Document:

Exhibit 10w.

                               EMPLOYMENT AGREEMENT

               THIS AGREEMENT,  dated and effective this 14th day of September,
2000,  between FIRST BANCORP (a North Carolina  corporation) (the "Company") and
JOHN F. BURNS (the  "Employee").  References  to the  "Company"  herein shall be
deemed to refer to the Company and its subsidiaries taken as a whole, unless the
context requires or the Agreement provides otherwise.

               The Company desires to employ the Employee,  and Employee desires
to be  employed  by the  Company,  on the terms and  subject  to the  conditions
hereinafter  set  forth.  Accordingly,   in  consideration  of  employment,  the
compensation  the  Company  agrees to pay the  Employee,  the  mutual  covenants
contained herein, and for other good and valuable consideration,  the receipt of
which is hereby acknowledged, the parties mutually agree as follows:

               1. Employment and Term. The Company (or one of its  subsidiaries)
will employ Employee, and Employee will be employed by the Company for a term of
three (3) years,  initially as Executive Vice President,  commencing on the date
hereof,  unless sooner  terminated  as  hereinafter  provided.  The term of this
Agreement shall  automatically  be extended for an additional  period of one (1)
year on each anniversary of the date of this Agreement unless either party gives
the  other  written  notice  on or  prior to such  anniversary  date  that  such
extension will not occur.

               2. Duties.  Employee shall at all times faithfully and diligently
perform  Employee's  obligations  under  this  Agreement  and  act in  the  best
interests  of the  Company  and  its  affiliated  companies.  Employee's  duties
hereunder  shall be to act in such  office or capacity as the Company may direct
or change from time to time, and Employee shall perform all duties  necessary or
advisable in order to carry out such functions in an efficient manner.  Employee
shall,  during the term of Employee's  employment  hereunder,  devote Employee's
full time,  best efforts and ability,  skill,  and attention  exclusively to the
furtherance  of the  business  objectives  and  interests of the Company and its
affiliated  companies  during  such  hours and in such a manner as is  generally
customary for  employees of  Employee's  position in businesses of the Company's
type.  Employee shall not be required to have his primary  office  location more
than 50 miles from the city limits of Southern Pines, North Carolina.

               3.            Compensation.
                             ------------

                              (a)  Salary.  For  services  rendered  by Employee
hereunder,  the Company  shall pay  Employee  an annual  salary of not less than
$150,000 plus an amount equal to the

first year's  increase in Employee's  personal  cost of health  insurance at the
Company as compared to such cost with Employee's  employer  immediately prior to
the date of this  Agreement  payable in accordance  with the  customary  payroll
practices of the Company.  Employee's  salary shall be subject to increase  upon
annual  reviews of the Employee's  performance.  Employee will receive an annual
increase  that is at  least  as  much as any  percentage  increase  in the  U.S.
Consumer  Price Index during the twelve months  preceding the date of Employee's
annual  review.  Any  such  increase  will  be  considered  in  determining  the
Employee's  base salary for all  purposes  hereunder.  During the time  Employee
serves as a director of the Company or any of its  subsidiaries,  Employee shall
be paid the fees payable to non-employee directors of such entity.

                              (b)  Reimbursement of Expenses.  The Company shall
pay or reimburse  Employee for all  reasonable  and  necessary  travel and other
expenses  incurred by Employee in performing  Employee's  obligations under this
Agreement, provided that Employee shall present to the Company from time to time
an itemized  account of such expenses in any form  required by the Company.  The
Company  further  agrees to  furnish  Employee  with such other  assistance  and
accommodations as shall be suitable to the character of Employee's position with
the Company and adequate for the performance of Employee's duties hereunder.

                              (c) Fringe Benefits. Employee shall be entitled to
such insurance, pension, profit-sharing and other benefit plans as are or may be
available  generally  to  employees  of the Company to the extent  permitted  by
applicable  laws or government  regulations.  Employee will also be eligible for
participation  in the Company's  Supplemental  Employee  Retirement  Plan, Split
Dollar  Insurance  Plan and Stock Option Plan.  Employee will receive an initial
grant of  10,000  options  under the  Company's  Stock  Option  Plan on the date
hereof.

<PAGE>

                              (d)  Leave.   Employee   shall  be   entitled   to
reasonable time off for vacation,  sick leave,  bereavement leave, jury duty and
military  obligations as are or may become available to employees of the Company
in positions similar to those of Employee, as provided by the Company's policies
as they may be in effect from
time to time.

               4.  Termination.  In  addition  to the  termination  of the terms
specified in Section 1 hereunder,  employment may be terminated under any of the
following provisions:

                              (a) The  employment  of the  Employee  under  this
Agreement may be terminated immediately by the Company if the Company finds that
the Employee shall have (i) demonstrated  gross negligence or willful misconduct
in the execution of Employee's  duties,  (ii)  committed an act of dishonesty or
moral turpitude, or (iii) been convicted of a felony or other serious crime. All
future compensation and benefits, not then accrued, will automatically terminate
if Employee is terminated under this subparagraph (a).

                              (b) The  employment  of the  Employee  under  this
Agreement shall be automatically terminated on the date of the Employee's death.

                              (c) Employer may terminate  Employee's  employment
hereunder  for any reason other than as provided in  subparagraphs  (a) and (b),
but in such case Employer  shall be obligated to pay  Employee's  base salary to
Employee  for the  remainder  of the term  specified  in  Section 1 hereof  (the
"Remaining Term").

                              (d)   Employment   hereunder   may  be  terminated
voluntarily by Employee on forty-five (45) days' written notice to the Company's
Chief  Executive  Officer or Chairman of the Company's  Board of  Directors,  in
which case  Employee will receive his  compensation,  vested rights and employee
benefits accrued through the date of termination of employment.

               5. Other Obligations. All payments and benefits to Employee under
this  Agreement  shall be subject to  Employee's  compliance  with the following
provisions:

                              (a) Assistance in  Litigation.  During the term of
this  Agreement  and for three full years after the  expiration  or  termination
hereof,  Employee shall,  upon reasonable  notice,  furnish such information and
proper assistance to the Company as may reasonably be required by the Company in
connection  with  any  litigation  in  which  it or any of its  subsidiaries  or
affiliates is, or may become,  a party. In connection with such  assistance,  if
substantial  effort or expense is required of Employee after the  termination of
Employee's employment hereunder, the Company will pay reasonable compensation to
Employee and will reimburse him for reasonable out-of-pocket expenses.

                              (b)  Long-Term  Disability.  If the  Employee  has
become disabled as determined under the Company's  long-term  disability plan or
policy then in effect and is terminated  from active  employment,  any remaining
benefits  of this  contract  shall be reduced by any  benefits  received  by the
Employee under the Company's long-term disability plan or policy.  Additionally,
if such a  circumstance  occurs,  the Employee is under an  affirmative  duty to
actively   seek  and  accept   reasonable   alternative   employment   following
termination.  Any  compensation  received by Employee  following  termination or
compensation earnable with reasonable diligence will be deducted from any future
compensation  due the Employee under this  Agreement.  In the event the Employee
fails to seek reasonable alternative employment, the Company's obligation to pay
future compensation shall cease.

                              (c)     Confidential     Information.     Employee
acknowledges  that in the  course  of  Employee's  employment  he  will  acquire
knowledge  of trade and  business  secrets  and other  confidential  data of the
Company, its subsidiaries and any affiliated companies.  Such trade and business
secrets  and  other  confidential  data may  include,  but are not  limited  to,
confidential  product  information,  methods by which the  Company  proposes  to
compete with its business  competitors,  strategic plans,  confidential  reports
prepared  by business  consultant(s)  and  similar  information  relating to the
Company's,  its subsidiaries' or its affiliated companies' products,  customers,
and operations. Employee recognizes that the possible restrictions on Employee's
activities are required for the reasonable  protection of the Company.  Employee
covenants not to knowingly  disclose or reveal to any  unauthorized  person such
confidential business secrets or other confidential data both during the term of
this Agreement and for a period of two (2) years  following  termination of this
Agreement.  Upon  expiration  or  termination  of  Employee's  employment by the
Company,  Employee agrees to return to the Company all documents (both originals
and copies),  including without  limitation,  customer lists, books and records,
form  agreements,   manuals,  and  other  information  (in  whatever  form  such
information may exist,  whether written,  recorded,  in magnetic media, or other

<PAGE>

form) that  comes into  Employee's  possession  during,  by virtue of and in the
course of  Employee's  employment  and which  are in any way  connected  with or
related to the Company's business.

               It is further  understood and agreed that the Company's  right to
require Employee to keep confidential information secret shall not be in lieu of
the Company's  right to monetary  damages in the event  Employee is in breach of
any obligation contained in this Agreement,  and that in the event of any breach
or threatened breach of any of these covenants,  the Company may either, with or
without  pursuing  any action for  damages,  obtain  and  enforce an  injunction
prohibiting Employee from violating said covenants.

                              (d)  Noncompetition  Covenants and Other Covenants
For  Protection  of the  Company.  During  the  term  of  Employee's  employment
hereunder and during the period  following the  termination  of such  employment
specified below as the "Restricted  Period," Employee  separately  covenants for
the benefit of the Company as follows:

                              (i) Employee  shall not,  directly or  indirectly,
promote, be employed by, participate or engage in any activity or business which
is in competition  with the business of the Company,  or any of its subsidiaries
and affiliated companies, including acting, either singly or jointly or as agent
for, or as an employee of, any person or persons,  firm or  corporation  whether
directly or indirectly (as a director, shareholder or investor, partner, lessor,
lessee,  proprietor,  principal agent,  independent contractor,  representative,
consultant or otherwise),  in the  "Restricted  Territory"  (as defined  below).
Ownership  by Employee  of 5% or less of the  outstanding  capital  stock of any
corporation  which is actively  publicly  traded will not be a violation of this
covenant;

                              (ii)  Employee  covenants  that  Employee will not
employ or assist others by active  solicitation to recruit and employ  employees
of the Company or any of the Company's subsidiaries or affiliate companies; and

                              (iii)  Employee  agrees  that  Employee  will not,
directly or indirectly,  on behalf of himself or any third party, make any sales
contacts with, or actively  solicit business from any customer of the Company or
its  subsidiaries  or  affiliate   companies,   for  any  products  or  services
competitive  with those offered by the Company or its subsidiaries or affiliated
companies within the "Restricted Territory" (as defined below).

               The  "Restricted  Period"  following  termination  of  employment
during which Employee will observe the covenants  contained in this Section 5(d)
shall be (A) one year  following  termination  of employment  under Section 4(a)
hereof or if Employee  voluntarily  terminates his employment  hereunder and (B)
for the  Remaining  Term (as defined in Section  4(c) hereof) if  employment  is
terminated pursuant to Section 4(c) hereof.

               "Restricted  Territory"  is defined as the area located  within a
50-mile radius of Southern Pines, North Carolina.

               Notwithstanding  the  foregoing,  the  aforesaid  limitations  on
Employee  contained in this  Section  5(d) shall be null and void if  Employee's
employment hereunder is terminated within one year following a Change in Control
(as defined in Section 8 hereof).

                              (e) It is further  understood  and agreed that the
Company's right to require Employee to keep confidential  information  secret or
not to compete  against the  Company for the agreed upon period  shall not be in
lieu of the  Company's  right to  monetary  damages in the event  Employee is in
breach of any obligation  contained in this Agreement,  and that in the event of
any breach or  threatened  breach of any of these  covenants,  the  Company  may
either,  with or without pursuing any action for damages,  obtain and enforce an
injunction prohibiting Employee from violating said covenants.

                              (f) The parties hereby agree that all of the above
obligations  in this  Section 5 are  reasonable  in nature and are  designed  to
reasonably protect the Company's interests.

               6.  Source  of  Payment.  Subject  to the  terms of any  employee
benefit plan established by the Company and except as otherwise provided by law,
all  payments  provided  under  this  Agreement  shall be paid in cash  from the
general  funds  of the  Company,  and no  special  or  separate  fund  shall  be
established, and no other segregation of assets shall be made to assure payment.
Employee  shall  have  no  right,  title  or  interest  whatsoever  in or to any
investments  which  the  Company  may make to aid the  Company  in  meeting  its
obligations hereunder.  Nothing contained in this Agreement, and no action taken
pursuant to its  provisions,  shall  create or be construed to create a trust of
any kind for the benefit of the Employee. To the extent that any person acquires
a right to receive payments from the Company  hereunder,  such right shall be no
greater than the right of an unsecured creditor of the Company.

<PAGE>

               7. Payments by Company. If the Company shall find that any person
to whom any amount is or was payable  hereunder is unable to care for Employee's
affairs  because of illness or accident,  or is a minor,  or has died,  then the
Company,  if it so elects,  may direct that any  payment  due him or  Employee's
estate (unless a prior claim  therefor has been made by a duly  appointed  legal
representative)  or any part  thereof be paid or applied for the benefit of such
person or to or for the  benefit  of such  person's  spouse,  children  or other
dependents,  an institution  maintaining  or having custody of such person,  any
other  person  deemed by the Company to be a proper  recipient on behalf of such
person  otherwise  entitled  to  payment,  or any of  them in  such  manner  and
proportion as the Company may deem proper. Any such payment shall be in complete
discharge of the liability of the Company therefor.

               8. Change in Control.
                  ------------------

                              (a) If a "Change in Control" occurs while Employee
is employed by the Company,  and  Employee's  employment  is  terminated  by the
Company  or  Employee,  for any reason or no  reason,  other than a  termination
pursuant to Section 4(a) by the Company  herein,  within twelve months after the
Change in  Control,  the Company  shall pay the  Severance  Payment  provided in
Section 8(b) to Employee  within ten days of Employee's  date of  termination of
employment, provide benefits pursuant to Section 8(c) and cause the acceleration
of vesting of benefits described in Section 8(d) to occur.  Notwithstanding  the
foregoing,  Employee's  termination  of employment  shall not be deemed due to a
Change in Control if such  termination  is due to Employee's  death  pursuant to
Section  4(b),  Employee's  disability  pursuant  to  Section  5(b),  Employee's
retirement in accordance with the Company's  retirement  policy,  or pursuant to
Section 4(a).

               In the event of successive Changes of Control,  the provisions of
this Agreement shall apply with respect to each Change of Control.

                              (b)  Employee's  Severance  Payment  shall  be  an
amount equal to the lesser of (i) 2.9 times the amount of Employee's base salary
in effect on the date of the Change in Control  and (ii) the product of 2.99 and
the "base amount" as defined in Section  280G(b)(3) of the Internal Revenue Code
of 1986, as amended, and applicable rules and regulations thereunder.

                              (c) The  Company  shall  provide to  Employee  and
Employee's  spouse  or other  qualified  dependents,  at a cost to  Employee  no
greater than the cost of such  benefits to Employee at the time of the Change in
Control, such hospitalization,  health, medical and dental insurance benefits as
were  available to Employee  (and  Employee's  spouse or  qualified  dependents)
immediately prior to the Change in Control until the earlier to occur of (i) two
years  following  the date of the Change in Control or (ii)  Employee  accepting
employment  pursuant to which he is eligible  for  comparable  health  insurance
benefits.

                              (d) Any non-vested  option to purchase  securities
of the Company  will vest and become  immediately  exercisable  upon a Change in
Control.

                              (e)  "Control"   means  the  power,   directly  or
indirectly, to direct the management or policies of the Company or to vote forty
percent (40%) or more of any class of voting securities of the Company.  "Change
in  Control"  shall  mean a change in Control of the  Company,  except  that any
merger,  consolidation  or corporate  reorganization  in which the owners of the
capital stock entitled to vote ("Voting  Stock") in the election of directors of
the Company prior to said combination own sixty-one percent (61%) or more of the
resulting  entity's Voting Stock shall not be considered a change in control for
the purpose of this Agreement;  provided,  that, without limitation, a Change in
Control  shall be deemed to have  occurred if (i) any  "person" (as that term is
used in Sections  13(d) and  14(d)(2) of the  Securities  Exchange Act of 1934),
other than a trustee or other  fiduciary  holding  securities  under an employee
benefit plan of the Company, is or becomes the beneficial owner (as that term is
used in Section  13(d) of the  Securities  Exchange  Act of 1934),  directly  or
indirectly,  of  thirty-three  percent  (33%) or more of the Voting Stock of the
Company or its  successors;  (ii)  during any period of two  consecutive  years,
individuals  who at the  beginning  of such  period  constituted  the  Board  of
Directors of the Company or its successors (the "Incumbent Board") cease for any
reason to constitute at least a majority thereof;  provided, that any person who
becomes a director  of the Company  after the  beginning  of such  period  whose
election  was  approved by a vote of at least  three-quarters  of the  directors
comprising  the  Incumbent  Board shall be  considered a member of the Incumbent
Board; or (iii) there occurs the sale of all or substantially  all of the assets
of the Company.  Notwithstanding  the  foregoing,  no Change in Control shall be
deemed to occur by virtue of any  transaction  which  results in Employee,  or a
group  of  persons  including  Employee,   acquiring,  directly  or  indirectly,
thirty-three percent (33%) or more of the combined voting power of the Company's
outstanding securities. For purposes of this subparagraph (e), references to the
"Company"  shall  be  deemed  to refer to  First  Bancorp  only,  and not to its
subsidiaries.

<PAGE>

               9. Modification and Waiver.
                  ------------------------

                              (a) Amendment of Agreement. This Agreement may not
be modified or amended  except by an instrument in writing signed by the parties
hereto.

                              (b) Waiver. No term or condition of this Agreement
shall be deemed to have been waived, nor shall there be any estoppel against the
enforcement of any provision

of this Agreement,  except by written  instrument of the party charged with such
waiver or estoppel.  No such written waiver shall be deemed a continuing  waiver
unless specifically  stated therein,  and each such waiver shall operate only as
to the specific term and condition  waived and shall not  constitute a waiver of
such  term  or  condition  for  the  future  or as to any act  other  than  that
specifically waived.

               10.  Severability.  If, for any  reason,  any  provision  of this
Agreement is held invalid,  such invalidity shall not affect any other provision
of this Agreement not held so invalid,  and each such other  provision  shall to
the full extent  consistent  with law continue in full force and effect.  If any
provision of this Agreement shall be held invalid in part, such invalidity shall
in no way affect the rest of such provision not held so invalid, and the rest of
such provision,  together with all other provisions of this Agreement,  shall to
the full extent consistent with law continue in full force and effect.

               11. General Provisions.
                   -------------------

                              (a)  Nonassignability.  Neither this Agreement nor
any right or interest  hereunder  shall be  assignable  by Employee,  Employee's
beneficiaries,  or legal  representatives  without the  Company's  prior written
consent;  provided, that nothing in this paragraph shall preclude the executors,
administrators,  or other legal  representative of Employee or Employee's estate
from assigning any rights hereunder to the person or persons entitled thereto.

                              (b) No  Attachment.  Except as required by law, no
right to receive payments under this Agreement shall be subject to anticipation,
commutation,  alienation,  sale,  assignment,  encumbrance,  charge,  pledge  of
hypothecation or to execution, attachment, levy or similar process or assignment
by operation of law, and any attempt,  voluntary or  involuntary,  to effect any
such action shall be null, void
and of no effect.

                              (c)  Binding  Effect.   This  Agreement  shall  be
binding  upon,  and inure to the benefit of,  Employee and the Company and their
respective successors and assigns.

                              (d) Headings.  Headings in this  Agreement are for
convenience only and shall not be used to interpret or construe its provisions.

                              (e)  Notice.   For  purposes  of  this  Agreement,
written  notice  shall  be  effective  if  personally  delivered  or if  sent by
certified mail, return receipt requested,  to the following addresses or to such
other addresses as either may designate in writing to the other party:

                               Employee:     John F. Burns
                                             40 Highland View Drive
                                             Southern Pines, NC  28387

                               Company:      341 North Main Street
                                             Post Office Box 508
                                             Troy, North Carolina  27371
                                             Attention:  Chief Executive Officer

For purpose of computing time, all time  requirements  under this Agreement will
start on the date mailed or if personally delivered, when delivered.

               12. Governing Law. This Agreement has been executed and delivered
in the State of North Carolina,  and its validity,  interpretation,  performance
and enforcement shall be governed by the laws of such State.

<PAGE>

               13.  Effect of Prior  Agreements.  This  Agreement  contains  the
entire understanding between the parties with reference to the employment of the
Employee,  and  supersedes  any prior  employment  agreement,  understanding  or
arrangement   between  the  Employee  and  the  Company,   its  subsidiaries  or
affiliates.

<PAGE>

               IN  WITNESS  WHEREOF,  the  parties  hereto  have  executed  this
Agreement under seal as of the day and year first above stated.

                                                FIRST BANCORP

                                                By:     /s/ James H. Garner
                                                        ---------------------
                                                        James H. Garner
                                                Title:  President and CEO

                                                EMPLOYEE

                                                        /s/ John F. Burns (SEAL)
                                                        -----------------------
                                                        John F. BurnsExhibit 10.1

                              SHAREHOLDER AGREEMENT

         This SHAREHOLDER  AGREEMENT (the  "Agreement") is made and entered into
as of November  10,  2000,  among  Softlock.com,  Inc.,  a Delaware  corporation
("Company"),  and the  shareholders  of the Company  identified on the signature
page hereto (the "Shareholders")  representing 97% of the issued and outstanding
Series B Preferred Stock.

         WHEREAS,  the Company is in the  process of  obtaining  private  equity
financing  from  existing   shareholders  and  third  parties  in  the  form  of
convertible  preferred stock and with aggregate gross proceeds to the Company of
$7,000,000 (the "Financing");

         WHEREAS,   the   Shareholders,   certain  other   shareholders  of  the
Corporation and third parties have agreed to enter into good faith  negotiations
for the  consummation  of the Financing  conditioned  upon the execution of this
Agreement by the Shareholders; and

         WHEREAS,  each Shareholder owns of record and/or beneficially shares of
Series  B  Convertible   Preferred  Stock  ("Series  B  Preferred"),   Series  A
Convertible  Preferred Stock ("Series A Preferred") and/or Common Stock ("Common
Stock") of the Company  (such  classes  being  referred to  collectively  as the
"Stock").

         NOW,   THEREFORE,   in   consideration   of  the   promises   and   the
representations,  warranties and agreements  contained herein, the parties agree
as follows:

         1. Definition.  For purposes of this Agreement,  "Subject Shares" shall
mean all issued and  outstanding  shares of Series B Preferred and all Shares of
Common Stock issued upon conversion thereof, and all shares issued upon exercise
of the Warrants that are owned of record or beneficially by the  Shareholders or
their affiliates as of the date hereof or from time to time while this Agreement
is in effect. By signing this Agreement,  each Shareholder is binding itself and
its affiliates.

         2. Representations and Warranties of the Shareholders. The
Shareholders, severally as to themselves and not jointly,
hereby represent and warrant to the Company as of the date hereof as follows:

                  a) Authority.  Each Shareholder has all requisite  capacity to
         enter  into  this   Agreement  and  to  consummate   the   transactions
         contemplated   hereby.  This  Agreement  has  been  duly  executed  and
         delivered  by the  Shareholder  and  constitutes  a valid  and  binding
         obligation of the Shareholder,  enforceable  against the Shareholder in
         accordance with its terms.  Except for  informational  filings with the
         Securities and Exchange Commission ("SEC"),  the execution and delivery
         of this Agreement by the  Shareholder do not, and the  consummation  by
         the Shareholder of the transaction  contemplated  hereby and compliance
         by the Shareholder with the terms hereof will not (i) conflict with, or
         result in any violation of, or default (with or without notice or lapse
         of time or both) under any trust agreement,  loan or credit  agreement,
         note, bond, mortgage, indenture, lease or other agreement,  instrument,
         judgment,  order,  notice,  decree,  statute,  law, ordinance,  rule or
         regulation  applicable  to  the  Shareholder  or to  the  Shareholder's
         property  or assets,  (ii)  require  any filing by the  Shareholder  or
         require the Shareholder to obtain any permit, authorization, consent or
         approval  of,  any  Federal,  state or local  government  or any court,
         tribunal,  administrative agency or commission or other governmental or
         regulatory  authority or agency,  domestic or foreign, or (iii) violate
         any  order,  writ,  injunction,  decree,  statute,  rule or  regulation
         applicable to the Shareholder or the Subject Shares.

                  b)       The Subject Shares.  Each Shareholder is the record
         and beneficial owner of, and has good and valid title
         to, the Subject Shares, free and clear of any liens.

         3.       Covenants of the Shareholders and the Company.

                  a) For the period  commencing on the date hereof and ending on
         the earlier of June 1, 2001 or the date six (6) months from the closing
         date  of  the  Financing,  each  Shareholder,  agreeing  as  to  itself
         severally and not jointly, shall not (i) sell, transfer, pledge, assign
         or otherwise dispose of (including by gift) (collectively, "Transfer"),
         consent to any Transfer of, or enter into any contract, option or other
         arrangement  (including any profit sharing arrangement) with respect to
         the  Transfer  of, any or all of the  Subject  Shares (or any  interest
         therein) to any person and agrees not to commit or agree to take any of
         the foregoing  actions or (ii) convert any shares of Series B Preferred
         held by the  Shareholders  into Common Stock  pursuant to the terms and
         provisions of the Company's  Certificate of Incorporation,  as amended.
         Notwithstanding   anything  to  the  contrary  contained  herein,  each
         Shareholder may, without the consent of the Company or any other person
         but so long as it is done in compliance  with law,  Transfer any or all
         of the Subject  Shares (or any  interest  therein):  (x) to one or more
         members of such Shareholder's family, any trust for the benefit of such
         Shareholder or one or more members of such Shareholder's  family or any
         entity  controlled by the Shareholder so long as the Transferee of such
         Subject  Shares (or such interest  therein)  agrees to be bound by this
         Agreement; (y) in the event the Shareholder is a partnership or limited
         liability company,  to its members or partners in distribution from the
         Shareholder in accordance  with its governing  documents so long as the
         Transferees  of such Subject  Share (or interest  therein)  agree to be
         bound by this Agreement or (z) to any Affiliate or partnership which is
         controlled  by or under common  control with the  Shareholder  or by or
         among any Tudor Entity.  Notwithstanding the foregoing,  the provisions
         of this Section 3(a) shall terminate if the Company has not consummated
         the  Financing  on or prior to January 31, 2001.  For  purposes  hereof
         "Affiliate"  shall  mean,  as to  any  Shareholder,  any  other  person
         directly or indirectly  controlling,  controlled by, or under direct or
         indirect  common  control with the  Shareholder  and  includes  without
         limitation,  (i) any person who is an officer,  director,  or direct or
         indirect  beneficial  holder  of at least  5% of the  then  outstanding
         capital stock of the  Shareholder  and any of the Family Members of any
         such  person,  (ii) any  person of which  the  Shareholder  and/or  its
         Affiliates  (as defined in clause (i) above),  directly or  indirectly,
         either  beneficially  own(s) at least 5% of the then outstanding equity
         securities or constitute(s) at least a 5% equity participant,  (iii) in
         the case of a Shareholder who is an individual,  Family Members of such
         person,  and  (iv)  in the  case  of the  Preferred  Shareholders,  any
         entities  for  which a  Purchaser  or any of its  Affiliates  serve  as
         general partner and/or investment adviser or in a similar capacity, and
         all mutual funds or other pooled investment  vehicles or entities under
         the control or management of such Preferred  Shareholder or the general
         partner or investment adviser thereof, or any Affiliate of any of them,
         or any Affiliates of any of the foregoing. For purposes hereof, "Family
         Members"  means,  as applied to any  individual,  any  parent,  spouse,
         child, spouse of child, brother or sister of the individual sharing the
         same  household  as such  individual,  and each trust  created  for the
         benefit of one or more of such  persons and each  custodian of property
         of one or more such  persons  and the estate of any such  persons.  For
         purposes hereof "Tudor Entity" shall mean each of the following:  Tudor
         Private Equity Fund,  L.P., Tudor Arbitrage  Partners,  L.P., Tudor BVI
         Futures,  Ltd.,  Raptor Global Fund, L.P.,  Raptor Global Fund Ltd. and
         Raptor  Global  Portfolio,  Ltd.,  or any  funds  or  other  investment
         vehicles  or  entities  of  which  any of the  foregoing  entities  are
         Affiliates,  or any Affiliate or Affiliated  Group of Tudor  Investment
         Corporation and/or Tudor Global Trading, Inc.

                  b) Upon the  execution of this  Agreement,  the Company  shall
         issue to each Shareholder who owns Series B Preferred and who is listed
         on Exhibit A, Warrants (the "Warrants") to purchase Common Stock of the
         Company.  The Warrants  shall be in the amounts set forth opposite such
         Shareholder's name on Exhibit A, shall remain exercisable for two years
         from the date hereof,  shall have an exercise  price per share equal to
         the  greater of the Fair Market  Value (as  defined in the  Warrant) or
         $2.25, and shall be in the form of Exhibit C hereof.

                  c) Each Shareholder listed on Exhibit B hereto by signing this
         Agreement agrees, severally as to itself and not jointly, to invest the
         aggregate dollar amount set forth opposite such  Shareholder's  name on
         Exhibit B in the Financing;  provided that the Shareholders  shall only
         be  required  to invest  to the  extent  that the terms and  conditions
         (including but not limited to price, valuation and terms and conditions
         in all  documents  executed in  connection  with the  Financing) of the
         Financing  are  reasonably  acceptable to each such  Shareholder.  Such
         Shareholder's  investment  will be on the same terms and  conditions as
         other  investors  in the  Financing  and  shall be  contingent  upon an
         aggregate of $7,000,000 in gross proceeds being raised in the Financing
         including amounts listed on Exhibit B.

         4. No Voting Rights Conferred; Termination. The Shareholders retain all
voting  rights with respect to the Subject  Shares and this  Agreement  does not
obligate  the  Shareholders  to vote for or  against  a  Financing  or any other
matter.  This Agreement shall terminate upon the  announcement by the Company of
any  merger  or  consolidation  of  the  Company  or  of  the  sale  of  all  or
substantially  all  of its  assets  or any  other  comparable  change-in-control
transaction.

         5.  Further  Assurances.  The  Shareholders  will,  from  time to time,
execute and deliver,  or cause to be executed and delivered,  such additional or
further consents,  documents and other instruments as the Company may reasonably
request  for  the  purpose  of   effectively   carrying  out  the   transactions
contemplated by this Agreement.

         6. Certain Events.  The Shareholders  agree that this Agreement and the
obligations  hereunder  shall attach to the Subject  Shares and shall be binding
upon any person or entity to which legal or beneficial ownership of such Subject
Shares  shall pass,  whether by operation of law or  otherwise,  including  such
Shareholder's heirs,  guardians,  administrators or successors.  In the event of
any stock split, stock dividend,  merger,  reorganization,  recapitalization  or
other change in the capital structure of the Company affecting the Stock, or the
acquisition  of  additional  shares of Stock or other voting  securities  of the
Company by the  Shareholders,  the number of Subject  Shares  shall be  adjusted
appropriately  and this Agreement and the obligations  hereunder shall attach to
any additional  shares of Stock or other voting securities of the Company issued
to or acquired by the Shareholders.

         7.  Indemnification.  So  long  as  the  Shareholder's  representations
contained  in Section  2(a) above  remain true and  correct,  the Company  shall
indemnify and hold harmless the Shareholders and the  Shareholder's  Affiliates,
agents,  advisers,  representatives,  employees,  officers  and  directors  (the
"Indemnified   Parties")  against  and  from  any  costs,   expenses  (including
reasonable attorneys' fees), settlement payments,  claims,  demands,  judgments,
fines,  penalties,  losses,  damages and liabilities incurred in connection with
any claim, suit, action or proceeding that arises directly or indirectly from or
relates directly or indirectly to (a) the execution,  delivery or performance of
this Agreement, or (b) any of the transactions contemplated by this Agreement.

         8.  Assignment.  Except as  otherwise  provided  herein,  neither  this
Agreement nor any of the rights,  interests or  obligations  hereunder  shall be
assigned by the Shareholders,  without the prior written consent of the Company.
Subject to the preceding sentence, this Agreement will be binding upon, inure to
the  benefit  of  and  be  enforceable  by  the  parties  and  their  respective
representatives,   executors,  administrators,  estate,  heirs,  successors  and
assigns.

         9.       General Provisions.

                  a)       Amendments.  This Agreement may not be amended except
         by an instrument in writing signed by each of the
         parties hereto.

                  b) Notice.  All  notices  and other  communications  hereunder
         shall be in writing and shall be deemed given if  delivered  personally
         or sent by  overnight  courier  (providing  proof of  delivery)  to the
         Company at its principal  executive  offices and to the Shareholders at
         the  Shareholder's  address set forth on the  signature  page  attached
         hereto (or at such other  address for a party as shall be  specified by
         like notice).

                  c)  Interpretation.  The headings  contained in this Agreement
         are for  reference  purposes  only and shall not  affect in any way the
         meaning  or  interpretation  of  this  Agreement.  Wherever  the  words
         "include,"  "includes" or "including" are used in this Agreement,  they
         shall be deemed to be followed by the words "without limitation".

                  d)   Counterparts.   This   Agreement   may  be   executed  in
         counterparts,  all of which  shall be deemed to be a single  agreement,
         and shall be effective when one or more of the  counterparts  have been
         signed by each of the parties and delivered to the other party.

                  e) Entire  Agreement.  The Agreement  (including the documents
         and instruments  referred to herein)  constitutes the entire  agreement
         and supersedes all prior  agreements and  understandings,  both written
         and oral,  between  the  parties  with  respect to the  subject  matter
         hereof.

                  f) Governing  Law.  This  Agreement  shall be governed by, and
         construed  in  accordance   with,  the  laws  of  The  Commonwealth  of
         Massachusetts  regardless of the laws that might otherwise govern under
         applicable principles of conflicts of law thereof.

                  g) No  Limitations.  Nothing  in  this  Agreement  shall,  and
         nothing in this Agreement shall be deemed to, prevent the  Shareholders
         from acting in accordance with his fiduciary duties if he, she or it is
         a  director  of the  Company  or  otherwise  limit the  ability  of the
         Shareholders  to take  any  action  in his,  her or its  capacity  as a
         director or officer of the Company, if applicable.

                  h)  Non-Contravention.  Nothing  contained  in this  Agreement
         shall be deemed to limit or amend any of the  rights or  provisions  of
         the  Shareholders  pursuant to the  Shareholders  and Rights  Agreement
         dated February 10, 2000.

         10. Enforcement.  The parties agree that irreparable damage would occur
in the event of a breach of this  Agreement.  It is accordingly  agreed that the
parties  shall be  entitled  to  injunctive  relief to prevent  breaches of this
Agreement and to enforce specifically the terms and provisions of this Agreement
in any court of the United States located in The  Commonwealth of  Massachusetts
or in a Massachusetts state court, this being in addition to any other remedy to
which they are  entitled  at law or in equity.  Each party (i)  consents  to the
personal  jurisdiction of any court of the United States located in the State of
Delaware or any Delaware state court in the event any dispute arises out of this
Agreement or any of the transactions  contemplated hereby, (ii) agrees that such
party  will not  attempt to deny or defeat  such  personal  jurisdiction,  (iii)
agrees that such party will not bring any action  relating to this  Agreement or
the  transactions  contemplated  hereby in any court  other  than a court of the
United States located in The  Commonwealth of  Massachusetts  or a Massachusetts
state court and (iv) waives any right to trial by jury with respect to any claim
or  proceeding  related  to or  arising  out  of  this  Agreement  or any of the
transactions contemplated hereby.

         11.      Public Announcement.  Except to the extent required by law or
regulation, the Shareholders and the Company shall not issue any press release
or other public statement with respect to this Agreement without the prior
written consent of each party.

         12.  Severability.  If any term or other provision of this Agreement is
invalid,  illegal or  incapable  of being  enforced by any rule of law or public
policy, all other conditions and provisions of this Agreement shall nevertheless
remain in full force and effect.  Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties hereto
shall  negotiate  in good  faith to modify  this  Agreement  so as to effect the
original  intent of the parties as closely as  possible  to the  fullest  extent
permitted  by  applicable  law in an  acceptable  manner  to the  end  that  the
transactions contemplated hereby are fulfilled to the extent possible.

         IN WITNESS  WHEREOF,  the parties have signed this  Agreement as of the
date first written above.

                                       SOFTLOCK.COM, INC.

                                       By:
                                          Name:
                                          Title:

                                       SHAREHOLDERS:

                                       RAPTOR GLOBAL PORTFOLIO, LTD.

                                       By:  Tudor Investment Corporation,
                                            as Investment Advisor

                                       By:
                                          Name:
                                          Title:

                                       ALTAR ROCK FUND, L.P.

                                       By:  Tudor Investment Corporation,
                                            as General Partner

                                       By:
                                          Name:
                                          Title:

                                       RC CAPITAL, L.L.C.

                                       By:  Ritchie Capital Investments, L.L.C.,
                                            its manager

                                       By:  Ritchie Capital Management, L.L.C.,
                                            its manager

                                       By: THR, Inc.

                                       By:
                                           Name:
                                           Title:

                                       RAM TRADING, LTD.

                                       By:  Ritchie Capital Management, L.L.C.,
                                            its investment manager

                                       By: THR, Inc.

                                       By:
                                          Name:
                                          Title:

                                       RITCHIE CAPITAL MANAGEMENT, L.L.C.

                                       By:  THR, Inc.

                                       By:
                                          Name:
                                          Title:

                                       APEX INVESTMENT FUND IV, L.P.

                                       By: Apex Management IV, L.L.C.,
                                           its General Partner

                                       By:
                                          Name:

                                       APEX STRATEGIC PARTNERS IV, LLC

                                       By:  Apex Management IV, LLC, Manager

                                       By:
                                          Name:
                                          Title:

                                       SI VENTURE FUND II, L.P.

                                       By:  SI Venture Management II, L.L.C.,
                                            its General Partner

                                       By:
                                          Name:
                                          Title: its Managing Member

<PAGE>

                                    Exhibit A

Shareholder                                         Number of Warrant Shares

Raptor Global Portfolio, Ltd.                                746,760

Altar Rock Fund, L.P.                                        3,240

RC Capital, L.L.C.                                           100,000

Ram Trading, Ltd.                                            500,000

Ritchie Capital Management, L.L.C.                           100,000

Apex Investment Fund IV, L.P.                                181,880

Apex Strategic Partners IV, LLC                              5,640

SI Venture Fund II, L.P.                                     187,520

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