Document:

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                                                                    Exhibit 10.8

       Membership Investment Agreement (the "Agreement"), dated as
       of September 7, 1999, by and among Pharma Marketing, LLC, a
       Delaware limited liability company (the "Company") and
       Mediconsult.com, Inc., a Delaware corporation ("Investor").
       -----------------------------------------------------------

     Investor desires to purchase from the Company, and the Company desires to
sell and issue to Investor, a membership interest in the Company constituting
35% of the aggregate membership interests in the Company (the "Purchased
Interest"), on the terms and conditions set forth in this Agreement.

     NOW, THEREFORE, in consideration of the foregoing and of the mutual
promises, covenants and agreements herein contained, and of other good and
valuable consideration now contributed by Investor to the Company (the receipt
and sufficiency of which is hereby acknowledged), the parties hereto covenant
and agree as follows:

                                   ARTICLE I
                                   ---------

                                  INVESTMENT
                                  ----------

     1.1.  Investment.  On the terms and subject to the conditions set forth
           ----------
herein at the Closing (as defined below), the Company shall issue to Investor,
and Investor shall purchase from the Company, the Purchased Interest.

     1.2.  Contribution. In exchange for the Purchased Interest, Investor shall
           ------------
contribute to the Company (i) US$1,250,000 (the "Cash Contribution") and (ii)
cash equal to 200,000 multiplied by the closing price of the common stock of
Mediconsult.com, Inc. on September 7, 1999, as reported on the Nasdaq Market
System (the "Additional Cash Contribution").

     1.3.  Membership Interest.  The rights and obligations of Investor as a
           -------------------
member of the Company and the owner of the Purchased Interest shall be as set
forth in the Operating Agreement of the Company in, the form of Exhibit A
                                                                ---------
attached hereto (the "Operating Agreement").

                                   ARTICLE II
                                   ----------

                   CLOSING; DELIVERIES; CONDITIONS PRECEDENT

     2.1.   Closing.
            -------

           (a) The Closing.  The Closing under this Agreement (the "Closing")
               -----------
shall take place at the offices of Investor's counsel, Howard, Smith & Levin,
LLP, 1330 Avenue of the Americas, New York, New York, at 10:00 a.m., local time,
on September 7, 1999, or such other date, place or time as the parties hereto
shall mutually agree upon (the date of the Closing being called the "Closing
Date").
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           (b) Proceedings.  All proceedings to be taken and all documents to be
               -----------
executed and delivered by the parties at the Closing shall be deemed to have
been taken and executed simultaneously and no proceedings shall be deemed taken
nor any documents executed or delivered until all have been taken, executed and
delivered.

     2.2.  The Company's Deliveries.  At the Closing, the Company shall deliver
           ------------------------
to Investor:

           (a) Operating Agreement.  The Operating Agreement duly executed by
               -------------------
each member party thereto (other than Investor);

           (b) Service Agreement.  The Service Agreement, in the form of
               -----------------
Exhibit B attached hereto, duly executed by the Company (the "Service
---------
Agreement");

           (c) Employment Agreements.  The employment agreement between the
               ---------------------
Company and Timothy J. McIntyre (the "Employee"), in substantially the form of
Exhibit C attached hereto (the "Employment Agreement"), executed by the Company
---------
and the Employee;

           (d) Subscription Agreement.  The Subscription Agreement, in the
               ----------------------
form of Exhibit D attached hereto (the "Subscription Agreement"), duly executed
by the Company, subscribing to 200,000 shares (the "Investor Shares") of common
stock, par value $0.001 per share, of Investor (the "Common Stock");

           (e) Formation.  Certified copy of the Certificate of Formation for
               ---------
the Company, as filed with the appropriate officials of the State of Delaware;

           (f) Other.  All other documents required by the terms of this
               -----
Agreement to be delivered to Investor at the Closing.

     2.3.  Investor's Deliveries.  At the Closing, Investor will deliver to the
           ---------------------
Company:

          (a)  Cash Contribution.  The Cash Contribution and the Additional Cash
               -----------------
Contribution in immediately available funds by certified check or wire transfer
to an account specified by the Company, in writing, at least two days prior to
the Closing;

          (b)  Service Agreement.  The Service Agreement duly executed by
               -----------------
Mediconsult.com, Ltd. ("Limited");

          (c) Other.  All other documents required by the terms of this
              -----
Agreement to be delivered to the Company at the Closing.

     2.4.  Further Assurances.  At any time and from time to time after the
           ------------------
Closing, at Investor's request, and without further consideration, the Company
will execute and deliver such other instruments of sale, transfer, conveyance,
assignment and confirmation, and take such actions, as Investor may reasonably
deem necessary or desirable in order more effectively to transfer, convey and
assign to Investor, and to confirm Investor's title to the Purchased Interest,
and to assist Investor in exercising all rights with respect thereto.

     2.5.  Investor's Conditions Precedent.  The obligations of Investor under
           -------------------------------
this Agreement to proceed with the transactions contemplated hereby are, at the
option of Investor

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(unless waived in writing by Investor), in its sole discretion, subject to the
fulfillment of the following conditions at or prior to the Closing, and the
Company shall use commercially reasonable efforts to cause each such condition
to be fulfilled:

           (a) Representations and Warranties.  The representations and
               ------------------------------
warranties of the Company contained in this Agreement, any Schedules and
Exhibits hereto and/or any certificates or documents delivered in connection
with this Agreement shall be true and correct when made, and shall also be true
and correct at the time of Closing with the same force and effect as though such
representations and warranties were made at that time, except for changes
expressly permitted by this Agreement;

           (b) Covenants.  Each covenant, agreement, delivery (including,
               ---------
without limitation, all deliveries required to be made by the Company pursuant
to Section 2.2) and obligation required by the terms of this Agreement to be
complied with and performed by the Company at or prior to the Closing shall have
been duly and properly complied with and performed; and

           (c) Consents.  All consents necessary in connection with the
               --------
consummation of the transactions contemplated herein, or which have been
reasonably requested by Investor to be obtained prior to the Closing, shall have
been obtained by the Company, and there shall have been delivered to Investor
executed counterparts reasonably satisfactory in form and substance to Investor
of such consents.

     2.6.  The Company's Conditions Precedent.  The obligations of the Company
           ----------------------------------
under this Agreement to proceed with the transactions contemplated hereby are,
at the option of the Company, subject to the fulfillment of each of the
following conditions at or prior to the Closing, and Investor shall use
commercially reasonable efforts to cause each such condition to be fulfilled:

           (a) Representations and Warranties.  The representations and
               ------------------------------
warranties of Investor contained in this Agreement or any certificates or
documents delivered by it to the Company in connection with this Agreement shall
be true and correct when made, and shall also be true and correct at the time of
the Closing with the same force and effect as though such representations and
warranties were made at that time, except for changes expressly permitted by
this Agreement; and

           (b) Covenants.  Each covenant, agreement, delivery (including,
               ---------
without limitation, all deliveries required to be made by the Company pursuant
to Section 2.3) and obligation required by the terms of this Agreement to be
complied with and performed by Investor at or prior to the Closing shall have
been duly and properly complied with and performed.

     2.7.  Conditions Antecedent.  The obligations of Investor under this
           ---------------------
Agreement are, at the option of Investor (unless waived in writing by Investor),
in its sole discretion, subject to the payment by the Company of the
subscription price for the Investor Shares in accordance with the terms of the
Subscription Agreement.  The obligations of the Company under this Agreement
are, at the option of the Company (unless waived in writing by the Company), in
its sole discretion, subject to the issuance to the Company of a certificate or
certificates representing the Investor Shares; provided that the Company shall
have paid the subscription price therefor in accordance with the Subscription
Agreement.  If either party's condition antecedent has not

                                       3
<PAGE>

occurred by the close of business on the second business day following the
Closing Date, such party shall have the right to terminate this Agreement upon
notice to the other, in which event the Cash Contribution and (if the
subscription price has not been paid) the Additional Cash Contribution shall be
returned to the Investor and neither party shall have any further obligation
with respect to the Company Agreements (as defined).

                                  ARTICLE III

                 REPRESENTATIONS AND WARRANTIES OF THE COMPANY
                 ---------------------------------------------

     The Company represents and warrants to Investor as follows:

     3.1.  Organization; Standing and Power.    The Company is a limited
           --------------------------------
liability company duly organized, validly existing and in good standing under
the laws of the State of Delaware and  has all requisite power and authority to
own, lease and operate its properties and to carry on its business as now being
conducted.

     3.2. Authority.  The Company has all requisite company power and authority
          ---------
to enter into this Agreement (including each Exhibit and Schedule to this
Agreement), the Operating Agreement, the Employment Agreements and the Service
Agreement (collectively, the "Company Agreement") and to carry out the
transactions contemplated hereby and thereby.  The execution and delivery of the
Company Agreements, the performance by the Company of its obligations under such
agreements, and the issuance to Investor of the Purchased Interest have each
been duly and validly authorized by all necessary company action and no other
proceedings on the part of the Company are necessary to authorize the execution,
delivery or performance by the Company of the Company Agreements.  This
Agreement constitutes, and, when executed and delivered at the Closing, each
other Company Agreement, will constitute, the legal, valid and binding
obligation of the Company, enforceable against the Company in accordance with
its terms.

     3.3. No Conflicts.  The execution, delivery and performance of the Company
          ------------
Agreements, the issuance of the Purchased Interest and the consummation of the
transactions contemplated hereby and thereby, will not, with or without the
giving of notice or the passage of time, or both, (a) result in a breach of, or
violate, or be in conflict with, or constitute a default under, or permit the
termination of, or cause or permit acceleration under, any agreement or
instrument or any debt or obligation to which the Company is a party or to or by
which the Company or any of its assets or property is subject or bound, (b)
require the consent, authorization or approval of any other person or any party
to any agreement or commitment to which such the Company is a party, or to or by
which the Company is subject or bound, (c) result in the creation or imposition
of any security interests, liens, pledges, charges, escrows, options, rights of
first refusal, encumbrances, agreements, arrangements, commitments or other
claims of any kind or character (collectively, "Liens") upon the Company or any
asset of the Company, (d)  violate any law, rule or regulation or any order,
judgment, decree or award of any court, governmental authority or arbitrator to
or by which the Company is subject or bound or (e) violate the Articles of
Organization of the Company, the Operating Agreement or any other governing or
organizational document of the Company.

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     3.4. Subsidiaries and Other Ventures.  The Company does not own, directly
          -------------------------------
or indirectly, any equity interest in any corporation, partnership, joint
venture, limited liability company, association or other entity.

     3.5. Indebtedness of the Company.  The Company has no indebtedness or
          ---------------------------
liability other than as contemplated by the Company Agreements.

     3.6. Business Activities.  The Company has not engaged in any business,
          -------------------
other than as contemplated by the Company Agreements.

     3.7. Status of Purchased Interest.  The Purchased Interest has been duly
          ----------------------------
authorized by all necessary company action on the part of the Company and upon
issuance and sale thereof to Investor and payment of the Purchase Price therefor
in accordance with this Agreement, will be validly issued, fully paid and non-
assessable.  Upon payment of the Purchase Price, Investor shall acquire good and
valid title in and to the Purchase Interest, free and clear of all Liens.

     3.8. Capitalization.  As of the Closing and upon due execution by all
          --------------
members of the Operating Agreement, (i) the Purchased Interest shall represent
35% of the aggregate membership interests in the Company, (ii) Timothy McIntyre
shall own the remaining 65% of the membership interests in the Company and (iii)
the Company shall have no other members.

     3.9. Employees.  As of the Closing, the Company will not have any employees
          ---------
other than the Employee.

     3.10.  Title to Assets.  As of the Closing, the Company will have good and
            ---------------
marketable title to its assets, free and clear of all Liens, except as
contemplated in the Company Agreements.

     3.11.  Purchase of Membership Interest by McIntyre.  Prior to or at the
            -------------------------------------------
Closing, Timothy McIntyre has purchased from the Company, and the Company has
issued to him, a 65% membership interest therein.

     3.12.  Investment Representation.
            -------------------------

          (a) Each of the Company and its members (other than Investor) has such
knowledge and experience in financial and business matters so as to be capable
of evaluating the merits and risks of its investment in the Investor Shares to
be issued and delivered in connection herewith.  Each of the Company and its
members (other than Investor) is capable of bearing the economic risks of such
investment, has no present intention of distributing or selling any of the
Investor Shares in any manner inconsistent with the requirements of the
Securities Act of 1933, as amended (the "Securities Act"), and is aware that the
Investor Shares have not been registered under the Securities Act and that
offers, sales, transfers or other dispositions of the Investor Shares are
restricted by the Securities Act, applicable state securities laws and this
Agreement.  In this regard, each of the Company and its members are familiar
with Securities and Exchange Commission Rule 144 ("Rule 144"), as presently in
effect, and understands the resale limitations imposed thereby and by the
Securities Act.

          (b) Each of the Company's members (other than Investor) is an
"accredited investor" as defined for purposes of Regulation D under the
Securities Act.

                                       5
<PAGE>

          (c) The Investor Shares being acquired are being acquired by the
Company in good faith, solely for the Company's own account, for investment
purposes only, and are not being purchased with a view to or for resale,
distribution, subdivision or fractionalization thereof (other than by way of
distribution to its members); other than as provided in the Company Agreements,
the Company has no contract, undertaking, understanding, agreement or
arrangement, formal or informal, with any person or persons to sell, transfer or
pledge or to hold for any persons the Investor Shares, or any part thereof, and
the Company has no present plans to enter into any such contract, undertaking,
agreement or arrangement; and the Company understands that no federal or state
agency has passed upon or made any recommendation or endorsement of Investor or
its stock and that Investor is relying on the truth and accuracy of the
representations, declarations and warranties made herein by the Company in
offering the Investor Shares to the Company without having first registered the
same under the Securities Act;

          (d) Each of the Company and its members (other than Investor) has
received copies of Investor's recent filings with the United States Securities
and Exchange Commission (the "SEC"), including its annual report on Form 10-K
last filed with the SEC and quarterly reports on Form 10-Q filed thereafter.
The Company, its members or the Company's representative has had access to
information concerning Investor, and has had the opportunity to ask questions of
and receive answers from Investor and its appropriate officers concerning the
terms and conditions of the transactions contemplated hereby, including the
business and financial conditions of Investor and other matters pertaining to
the Investor Shares, and to obtain therefrom any additional information
necessary to make an informed decisions regarding investment in the Investor
Shares.

                                   ARTICLE IV
                                   ----------

                   REPRESENTATIONS AND WARRANTIES OF INVESTOR
                   ------------------------------------------

          4.1. Representations and Warranties.  Investor hereby warrants and
               -------------------------------
represents to the Company as follows:

            (a) Organization.  Investor is a corporation duly organized, validly
                ------------
existing and in good standing under the laws of the State of Delaware and has
all requisite power and authority and is entitled to own, lease and operate its
properties and to carry on its business as and in the places such properties are
now owned, leased or operated and where such business is presently conducted.

            (b) Authority.  Investor has full corporate power and corporate
                ---------
authority to enter into this Agreement, this Agreement has been duly authorized,
executed and delivered by Investor, and constitutes the legal, valid and binding
obligation of Investor, enforceable in accordance with its terms.

            (c) No Conflicts.  The execution, delivery and performance by
                ------------
Investor of this Agreement and the consummation of the transactions contemplated
hereby will not conflict with or violate any provision of the Certificate of
Incorporation or By-Laws of Investor, with or without the giving of notice or
the passage of time, or both, result in a breach of, or violate, or be in
conflict with, or constitute a default under, or permit the termination of, or
cause or permit acceleration under, any agreement or instrument or any debt or
obligation to which Investor is a party or to or by which it or any of its
assets is subject or bound, or result in the loss or adverse

                                       6
<PAGE>

modification of any lease, license, franchise, or other authorization granted to
or otherwise held by Investor, require the consent of any party to any agreement
or commitment to which Investor is a party, or to or by which it is subject or
bound, result in the creation or imposition of any Lien upon any of the assets
of Investor, or violate any law, rule or regulation or any order, judgment,
decree or award of any court, governmental authority or arbitrator to or by
which Investor is subject or bound.

            (d) Shares.  The Investor Shares have been duly authorized and, when
                ------
issued and delivered to the Company as provided in this Agreement at the time of
the Closing, will be validly issued and outstanding and fully paid and non-
assessable, free and clear of all Liens and restrictions on transfer, other than
the resale restrictions described in Article VI of this Agreement and in the
other Company Agreements, and arising under the securities laws and will have
been issued in compliance with all applicable federal and state securities laws;

                                   ARTICLE V

                                INDEMNIFICATION
                                ---------------

     5.1. Obligation to Indemnify.
          -----------------------

          (a) On the terms and subject to the limitations set forth herein,
Investor hereby assumes and agrees to save, indemnify, defend and hold harmless
the Company and its affiliates, members, managers, officers, employees and other
agents and representatives (collectively the "Company Indemnified Parties") from
and against, and shall on demand reimburse the Company Indemnified Parties for:

            (i)   any and all loss, liability, damage or deficiency suffered or
incurred by the Company Indemnified Parties by reason of any misrepresentation
or breach of warranty by Investor or nonfulfillment of any covenant or agreement
to be performed or complied with by Investor under this Agreement or in any
agreement, certificate, document or instrument executed by Investor and
delivered to the Company pursuant to or in connection with this Agreement; and

            (ii)  any and all actions, suits, proceedings, claims, demands,
assessments, judgments, costs and expenses, including reasonable attorneys'
fees, incident to any of the foregoing, or incurred in investigating or
attempting to avoid the same or to oppose the imposition thereof, or in
enforcing any of the obligations under this Section 5.1(a).

          (b) On the terms and subject to the limitations set forth herein, the
Company hereby assumes and agrees to save, indemnify and hold harmless Investor
and its affiliates, directors, officers, employees and other agents and
representatives (collectively, the "Investor Indemnified Parties") from, against
and in respect of, and shall on demand reimburse Investor Indemnified Parties
for:

            (i)  any and all loss, liability, damage or deficiency suffered or
incurred by the Investor Indemnified Parties or by reason of any
misrepresentation, breach of warranty or nonfulfillment of any covenant or
agreement to be performed or complied with by the Company (other than any
misrepresentation, breach of warranty or nonfulfillment of any covenant or
agreement arising solely from the act or omission of Investor) or any of its
members (other than

                                       7
<PAGE>

Investor) under this Agreement or any agreement, certificate, document or
instrument executed by any Company and delivered to Investor pursuant to or in
connection with this Agreement; and

            (ii)  any and all actions, suits, proceedings, claims, demands,
assessments, judgments, costs and expenses, including, without limitation,
reasonable attorneys' fees, incident to any of the foregoing or incurred in
investigating or attempting to avoid the same or to oppose the imposition
thereof, or in enforcing any of the obligations under this Section 5.1(b).

     5.2. Limitations.
          -----------

          (a) No party hereto shall have an indemnification obligation pursuant
to this Article V in respect of any representation, warranty or covenant unless
such party shall have received from the party seeking indemnification written
notice of the existence of the claim for or in respect of which indemnification
in respect of such representation, warranty or covenant is sought.  Such notice
shall set forth with reasonable specificity the basis under this Agreement, and
the facts that otherwise form the basis, of such claim, an estimate of the
amount of such claim (which estimate shall not be conclusive of the final amount
of such claim) and an explanation of the calculation of such estimate, including
a statement of any significant assumptions employed therein, and the date on and
manner in which the party delivering such notice became aware of the existence
of such claim.

          (b) Any payment under this Article V required to be made by the
Company may, in the discretion of the Company, be made at the option of the
Company in either cash or in Common Stock.  For purposes of making such payment,
the Common Stock shall be valued at the closing price on the Closing Date.

          (c) Notwithstanding anything to the contrary contained in this
Agreement, no party shall be required hereunder to indemnify or hold harmless
any other party against damages or other losses until such time as the aggregate
amount of all damages, or other losses shall exceed $50,000 (the "Liability
Threshold"), at which time the indemnifying party shall be responsible without
regard to such threshold; provided, further, however, that the maximum aggregate
liability of either party under this Agreement shall not exceed the total amount
of the initial investment.  All damage and losses shall be calculated on an
actual out-of-pocket basis net of actual insurance reimbursements, condemnation
proceeds, tax benefits and other offsetting payments or benefits associated with
the specific loss, liability or damage asserted with respect to such claim,
actually received by Investor, whether such receipt occurs before or after the
date the indemnification claim is made.  No party shall unreasonably refuse to
seek such insurance reimbursements or other offsetting payments or benefits.

     5.3. Investor's Option to Purchase Investor Shares. Upon the Company's
          ---------------------------------------------
failure to pay in full, in cash or in shares of Common Stock pursuant to Section
5.2(b), any obligation owed to any Investor Indemnified Party pursuant to
Section 5.1(b), which failure shall not have been cured by the Company within 10
days' written notice thereof, Investor shall have the option to purchase (each
an "Investor Option") from the Company, any party to whom the Company has
transferred any of the Investor Shares and any transferee therefrom, a number of
Investor Shares equal to the amount owed by the Company under Section 5.1(b) for
a purchase price of $0.001 per share of such Common Stock.  For purposes of
calculating the number of shares that Investor is entitled to so purchase, the
Investor Shares shall be valued at the last reported sale price as reported by
the Nasdaq Market of the Common Stock on the Closing Date.  Upon the exercise of
a Investor Option, each holder of such Investor Shares shall have the obligation
to sell, or to

                                       8
<PAGE>

cause any transferee thereof to sell, the requisite number of Investor Shares to
Investor at the purchase price specified above; provided that Investor shall use
commercially reasonable efforts to exercise the Investor Option on a pro rata
                                                                     --- ----
basis as among all holders such that the proportion of Common Stock so
purchased by Investor is proportionate to such holder's percentage of the total
Investor Shares. The Investor Option shall not apply to any Investor Shares that
are transferred by any holder pursuant to Sections 6.3(b), 6.4 or 6.15 hereof.
Prior to its transfer of any Investor Shares, the Company shall inform any
transferee (and any transferee shall be obligated to notify any successor
transferee) of Investor's rights under this Section 5.3.

                                   ARTICLE VI
                                   ----------

        RESTRICTIONS ON TRANSFER; REGISTRATION UNDER THE SECURITIES ACT
        ---------------------------------------------------------------

          6.1. Restrictions on Transfer.  The Investor Shares delivered pursuant
               ------------------------
hereto shall not be transferable except (a) pursuant to Section 5.4 hereof, (b)
by the Company as a distribution to a member of the Company or by a member of
the Company to another member, in each case pursuant to the terms of the
Operating Agreement and so long as such distribution or other transfer does not
require registration under the Securities Act, (c) pursuant to Rule 144, (d)
pursuant to an effective registration statement filed in accordance with this
Agreement, (e) to Limited pursuant to the Service Agreement and (f) as to not
more than 100,000 Investor Shares, provided that the events have occurred that
would permit the registration of such Investor Shares pursuant to Section 6.15,
and that the Company is in compliance with its obligations under the Service
Agreement and such agreement is in full force and effect, in a transaction not
requiring registration under the Securities Act.  Except as otherwise provided
therein, each transfer permitted under this Section 6.1 shall satisfy the
conditions specified in Section 6.3, which conditions are intended to ensure
compliance with the provisions of the Securities Act. The Company and each
permitted transferee of any Investor Shares, other than a transferee (an "Exempt
Transferee") who purchases (i) in accordance with the provisions of Section 6.4
or 6.15 pursuant to an effective registration statement satisfying the
requirements of the Securities Act or (ii) pursuant to Rule 144 under the
Securities Act, (the Company and each such transferee being referred to herein
as a "Holder") will cause any proposed transferee (other than an Exempt
Transferee) of any Investor Shares held by such Holder to agree to take and hold
such Investor Shares subject to the provisions and upon the conditions specified
in this Article.

          6.2. Restrictive Legend.  Each certificate for the Investor Shares
               ------------------
delivered pursuant hereto to the Company or as may be transferred by a Holder
pursuant to the terms hereof to a subsequent transferee shall (unless otherwise
permitted by the provisions of Section 6.3, 6.4 or 6.15) include a legend in
substantially the following form:

     THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
     THE SECURITIES ACT OF 1933, AS AMENDED AND MAY NOT BE SOLD, TRANSFERRED,
     PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR AN
     EXEMPTION THEREFROM UNDER SAID ACT AND THE RULES AND REGULATION THEREUNDER.
     BY ITS ACCEPTANCE HEREOF, THE HOLDER OF THIS CERTIFICATE AGREES TO COMPLY
     IN ALL RESPECTS WITH SECTION 5.3 AND ARTICLE VI OF THE MEMBERSHIP
     INVESTMENT AGREEMENT DATED AS OF SEPTEMBER 7, 1999, IN RELATION TO WHICH
     THESE SHARES WERE ISSUED.  COPIES OF SUCH PROVISIONS MAY BE

                                       9
<PAGE>

     OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS
     CERTIFICATE TO THE SECRETARY OF THIS COMPANY AT ITS PRINCIPAL EXECUTIVE
     OFFICES.

          6.3. Notice of Proposed Transfers; Rule 144.
               --------------------------------------

            (a) Each holder of Investor Shares agrees to comply in all respects
with the provisions of this Section.  Prior to any proposed sale, transfer or
other disposition of Investor Shares delivered pursuant hereto (except for
transfers by holders to their spouse or descendants or to trusts or
custodianships solely for the benefit of their spouse or descendants so long as
such transferee agrees to be bound by the provisions of this Article VI, and
other than under the circumstances described in subsection (b) below with
respect to termination of restrictions or transfer pursuant to Rule 144(k) under
the Securities Act, as amended from time to time ("Rule 144(k)") or in Section
6.4 or Section 6.15), the affected holder shall give written notice to Investor
of such holder's intention to effect such sale, transfer or other disposition.
Each such notice shall describe the manner and circumstances of the proposed
sale, transfer or other disposition in reasonable detail, and shall be
accompanied by either (i) an opinion of counsel, in form and substance
reasonably acceptable to Investor, addressed to Investor, to the effect that the
proposed sale, transfer or other disposition of such Investor Shares may be
effected without registration under the Securities Act, or (ii) a "no action"
letter, in form and substance reasonably acceptable to Investor, from the SEC to
the effect that such sale, transfer or other disposition of such Investor Shares
without registration will not result in a recommendation by the staff of the SEC
that action be taken with respect thereto, whereupon the holder of such Investor
Shares shall be entitled to transfer such Investor Shares in accordance with the
terms of the notice delivered by the holders to Investor; provided, however,
                                                          --------  -------
that no such notice or opinion of counsel shall be required for a transfer by
will or intestate succession from any holder to his spouse or family members, if
the transferee agrees in writing to be subject to the terms hereof to the same
extent as if such transferee were an original holder hereunder.

            (b) Notwithstanding the foregoing, no opinion of counsel shall be
required for any sale, transfer or other disposition of such Common Stock or the
removal of the above legend based upon the termination of restrictions on sales
of such stock pursuant to Rule 144(k), if the holder holding such shares of
Common Stock shall deliver to Investor in its stead a certificate stating that
such shares are (i) eligible for sale pursuant to Rule 144, as amended from time
to time, under the Securities Act and representing and warranting to Investor
that such sale will be made in accordance with such Rule, or (ii) eligible for
termination of restrictions on sale pursuant to Rule 144(k), as amended from
time to time, under the Securities Act and representing and warranting to
Investor that such shares are so eligible in accordance with such Rule, in each
case together with a summary of the basis for such statements, unless within
fifteen days after receipt of such a certificate Investor shall reasonably
determine in good faith that an opinion of counsel is required by the transfer
agent to ensure compliance with the Securities Act and shall so notify such
holders.

          6.4. Registration of Stock; Restriction on Sales.
               -------------------------------------------

          (a) Investor agrees to prepare and, subject to the Company and each
other Holder providing the requisite information pursuant to Section 6.6, file
on or before October 31, 1999 (the "Filing Date"), a registration statement (the
"Registration Statement"), including a prospectus (the "Prospectus"), with the
SEC under the Securities Act and satisfy such filing, registration and
qualification requirements of the relevant state securities (blue sky) laws of
such

                                       10
<PAGE>

states as the Holders may reasonably request, covering the sale of 100,000
Investor Shares; provided that Investor will not be required to (x) qualify
generally to do business in any such jurisdiction where it would not otherwise
be required to qualify but for this Agreement, (y) subject itself to taxation in
any such jurisdiction or (z) consent to general service of process in any such
jurisdiction (unless Investor is already subject to service of process in such
jurisdiction).  Investor further agrees to use its best efforts to cause the
Registration Statement and such registration and qualification to become
effective as soon as practicable after filing.  The Registration Statement shall
be on form S-3; provided that, if such form ceases at any time to be available
                --------
to Investor, the Registration Statement shall be on such other form for the
general registration of securities as Investor may deem appropriate.  Investor
shall furnish the Holders with an initial draft of the Registration Statement
not later than 25 days prior to the Filing Date, and prior to filing such
Registration Statement or any amendment or supplement thereto (other than any
documents incorporated by reference therein), furnish to the Holders copies
thereof.

          (b) If (but without any obligation to do so) at any time after the
date hereof Investor proposes to register (including for this purpose a
registration effected by Investor for stockholders other than the holders of the
Investor Shares) any of its stock or other securities under the Securities Act
in connection with the public offering of such securities solely for cash (other
than a registration relating solely to the sale of securities to participants in
a Investor stock plan, or a registration relating to shares to be issued in
connection with the acquisition of another company, or a registration on any
form that does not include substantially the same information as would be
required to be included in a registration of the Investor Shares), Investor
shall, at such time, promptly give each holder of Investor Shares written notice
of such registration.  Upon the written request of each holder of Investor
Shares given within twenty (20) days after the effectiveness of such notice by
Investor, Investor shall, subject to the provisions of Section 6.8, cause to be
registered under the Securities Act all of the Investor Shares that each such
holder of Investor Shares has requested to be registered.  Notwithstanding the
foregoing, Investor shall not be obligated to register the Investor Shares
described in Section 6.15 unless and until the events described in Section 6.15
have occurred with respect to such shares.

          (c) Except as provided in subsections (d) and (e), at any time during
the period the Registration Statement is effective, prior to any proposed sale,
transfer or other disposition of any Investor Shares delivered pursuant hereto,
the affected Holder shall give at least seven days' written notice to Investor
of such Holder's intention to effect such sale, transfer or other disposition.
Such notice shall state that such sale, transfer or other disposition is
intended to be made pursuant to such Registration Statement and the Prospectus
and that such Holder has a bona fide intention of making such sale, transfer or
other disposition.  Subject to the provisions of subsections (d) and (e) below,
such Holder shall be permitted to effect such sale, transfer or other
disposition without further notice to Investor during the fourteen-day period
following the expiration of such seven-day period.

          (d) Notwithstanding anything contained in subsection (c), if at any
time after receipt of any such notice from any Holder and prior to such sale,
transfer or other disposition, Investor shall furnish to such Holder a
certificate signed by its Chairman, Chief Executive Officer, President, Chief
Financial Officer or General Counsel stating that in his good faith judgment it
would be seriously detrimental to Investor or its shareholders for such sale,
transfer or other disposition to be made at such time (including, without
limitation, by reason of any disclosure which Investor may be required to make
for such purpose), such Holder shall not effect such sale, transfer or other
disposition except during the fourteen-day period following the expiration of
the sooner of (i) a period of 90 days from the date of receipt of such written
notice

                                       11
<PAGE>

from such officer of Investor or (ii) the receipt of written notice from
Investor stating that such Holder is permitted to effect such sale, transfer or
other disposition.  If prior to such 90-day period there shall no longer be any
basis for such a certificate to be issued, Investor shall promptly under the
circumstances notify such Holder to the effect provided in clause (ii) above.
Investor shall not be entitled to defer any such Holder sales during any such
fourteen-day period.  Each other Holder shall also be entitled to sell, transfer
or otherwise dispose of Investor Shares during any fourteen-day period referred
to in this subsection if such selling Holder gives notice to Investor of such
intended sale prior to the expiration of such fourteen-day period.

          (e) Notwithstanding anything contained in subsection (c) and (d), the
Holders shall be permitted, without notice to Investor and free from any right
of Investor to defer such sales as herein provided, to sell, transfer or
otherwise dispose of Investor Shares pursuant to the Registration Statement and
the Prospectus during the 60 days following the date the Registration Statement
first becomes effective.

          (f) Investor will, upon delivery to it or its agent of certificates
for the Investor Shares containing the legend set forth in Section 6.2 hereof by
a Holder for registration of the transfer of such stock in accordance with the
provisions of this Section, cause certificates without such legend representing
the number of shares of Investor Shares being transferred and new certificates
with such legend representing the number of remaining shares not being so
transferred, if any, to be issued in exchange for such legend certificates.

          (g) To the extent that 100,000 Investor Shares have not been
registered pursuant to a registration statement declared effective under the
Securities Act on or before December 31, 1999 (the shortfall in the number of
such Investor Shares that have not been registered being referred to herein as
the "Unregistered Shares"), then the Holders may elect (which election must be
unanimous) to (i) require Investor to use its reasonable efforts to cause one or
more registration statements covering the Unregistered Shares to be declared
effective under the Securities Act as soon as possible or (ii) require Investor
to repurchase the Unregistered Shares; provided that the Company shall be in
                                       --------
compliance with its obligations under the Service Agreement and such agreement
shall be in full force and effect at the time of such election.  Any such
repurchase shall be made at a price per share equal to the average closing price
of the Common Stock as reported by the Nasdaq Market for the 30 trading days
ending three days before the last business day of December 1999.  The Holders
shall give notice to Investor of their election (if any) on or before March 31,
2000.  In the case of an election under clause (ii), Investor shall repurchase
the Unregistered Shares within 30 days of its receipt of such notice.

     6.5. Registration Procedures and Expenses.  Investor agrees that after
          ------------------------------------
the filing of the Registration Statement it will:

          (a) prepare and file with the SEC such amendments and supplements to
the Registration Statement and the Prospectus as may be necessary to keep the
Registration Statement effective until the Investor Shares so registered and
qualified is no longer owned by any Holder or until the expiration of a period
of 12 months after the Closing Date, whichever is earlier; provided that, if as
result of the exercise by Investor of its rights pursuant to the first sentence
of Section 6.4(d), any such fourteen-day period shall end at anytime after such
12-month period, the period during which the Registration Statement shall remain
effective shall be extended to the end of such fourteen-day period;

                                       12
<PAGE>

          (b) if the Registration Statement ceases for any reason to be
effective during the period referred to in clause (a), take all reasonable
action to either make such Registration statement effective or to file another
registration statement (which for purposes of this Agreement shall be the
"Registration Statement" and the related prospectus shall be the "Prospectus")
and use reasonable efforts to cause such registration statement to become
effective as soon as practicable and remain effective for the period referred to
in clause (a);

          (c) deliver to each Holder, as soon as it is available, a conformed
copy of the Registration Statement (including any preliminary prospectus) as
originally filed and of each amendment thereto (including exhibits and documents
incorporated by reference therein);

          (d) furnish to each Holder selling Investor Shares so registered under
the Securities Act such number of copies of the Prospectus and any amendments or
supplements thereto (including all Exhibits thereto and all documents
incorporated by reference therein) and the Prospectus included in such
Registration Statement (including each preliminary prospectus) as the Holders
may reasonably request in order to effect the offering and sale of the shares of
Common Stock to be offered and sold);

          (e) pay all fees and expenses (including without limitation
registration and filing fees and legal, accounting and printing fees and
expenses but excluding selling fees, discounts and commissions with respect to
the sale of Investor Shares and any out-of-pocket expenses of the Holders) in
connection with such registration or qualification; and

          (f) if during the period that the Registration Statement is required
to be kept effective, any other shares of Common Stock shall be issued in
respect of the Common Stock delivered pursuant hereto (by reason of any stock
split, stock dividend, reclassification, recapitalization or similar event),
Investor agrees to use reasonable efforts to cause such additional shares of
Common Stock to be registered pursuant to the Registration Statement or another
registration statement (which other Registration Statement shall be deemed for
purposes of this Agreement to be a "Registration Statement" and the related
prospectus shall be a "Prospectus") and, except as provided in clauses (x), (y)
and (z) of Section 6.4(a), registered or qualified under the relevant state
securities laws.

     6.6. Accuracy of Information Relating to Holders.  Investor may
          -------------------------------------------
require each Holder promptly to furnish in writing to Investor such information
regarding such Holder, the plan of distribution of the Investor Shares and other
information as Investor may from time to time reasonably request or as may be
legally required in connection with such registration.

     6.7. Certain Notifications.  During the period of effectiveness of the
          ---------------------
Registration Statement, Investor shall promptly notify each Holder of:

          (a) the effectiveness of the Registration Statement, the receipt of
any comments from the SEC relating to statements set forth in the Registration
Statement that relate to the Holders, and the issuance (or any threatened
issuance of which Investor shall be aware) by the SEC of any stop order
suspending the effectiveness of the Registration Statement or of any amendment
thereto (in which case, the Holders will not sell, transfer or otherwise dispose
of any Investor Shares during the pendency of such stop order), and Investor
shall take all reasonable actions required to prevent the entry of such stop
order or to remove it if entered; and

                                       13
<PAGE>

          (b) its intention to file any amendment to the Registration Statement
(other than documents incorporated by reference therein) which shall amend the
statements referred to in Section 6.6.

     6.8. Underwriting Requirements.  In connection with any offering
          -------------------------
involving an underwriting of shares being issued by Investor, Investor shall not
be required under Section 6.4(b) to include any of the Holders' Investor Shares
in such underwriting unless the Holders accept the terms of the underwriting as
agreed upon between Investor and the underwriters selected by it, and then only
in such quantity as will not, in the opinion of the underwriters, jeopardize the
success of the offering by Investor.  If the total amount of securities,
including Investor Shares, requested by stockholders to be included in an
offering exceeds the amount of securities sold other than by Investor that the
underwriters reasonably believe compatible with the success of the offering,
then Investor shall be required to include in the offering only that number of
such securities, including Investor Shares, that the underwriters believe will
not jeopardize the success of the offering (the securities so included to be
apportioned pro rata among the selling stockholders according to the total
amount of securities entitled to be included therein owned by each selling
stockholder or in such other proportions as shall mutually be agreed to by such
selling stockholders).  The underwriters, pursuant to the preceding sentence,
may completely exclude the Investor Shares from such underwriting if no other
selling stockholders' securities are so included.  Further, the Investor Shares
are subject to cutback as a result of the superior and equal demand and piggy-
back registration rights granted to other holders of Common Stock and securities
of Investor convertible and exchangeable into Common Stock; provided however,
under no circumstances shall the Investor Shares be subject to cutback with
respect to the Registration Statement to be filed on or before October 31, 1999.

     If any person does not agree to the terms of any such underwriting,
such Holder shall be excluded therefrom by written notice from Investor or the
underwriter.  Any Investor Shares excluded or withdrawn from such underwriting
shall be withdrawn from such registration.  If shares are so withdrawn from the
registration, Investor shall then offer to all persons who have retained the
right to include securities in the registration the right to include additional
securities in the registration in an aggregate amount equal to the number of
shares so withdrawn, with such shares to be allocated among the persons
requesting additional inclusion pro rata according to the total amount of
securities entitled to be included in such registration owned by each such
person or in such other proportions as shall be mutually agreed by such selling
stockholders.

     For purposes of the immediately preceding provisions concerning
apportionment, in the case of any selling stockholder that is a partnership or
corporation, the partners, retired partners or stockholders, as the case may be,
of such Holder, or the estates and family members of any such partners and
retired partners, and any trusts for the benefit of any of the foregoing persons
shall be deemed to be a single "selling stockholder," and any pro rata reduction
with respect to such "selling stockholder" shall be based upon the aggregate
amount of shares carrying registration rights owned by all entities and
individuals included in such "selling stockholder," as defined in this sentence.

     6.9. Indemnification by Investor.  Investor shall indemnify, defend
          ---------------------------
and hold harmless each Holder from and against any and all losses, claims
expenses, damages and liabilities, joint or several, caused by (a) any untrue
statement or alleged untrue statement of a material fact contained in the
Registration Statement or the Prospectus (as amended or supplemented if Investor
shall have furnished any amendments or supplements thereto) or any preliminary
prospectus, (b) any omission or alleged omission to state therein a material
fact required to be

                                       14
<PAGE>

stated therein or necessary to make the statements therein not misleading, or
(c) any violation by Investor of the Securities Act, the Exchange Act, any state
securities laws or any rule or regulation promulgated under the Securities Act,
the Exchange Act or any state securities laws, in each case, except insofar as
such losses, claims, expenses, damages or liabilities (i) are caused by any such
untrue statement or omission or alleged untrue statement or omission based upon
information, relating to the Holders, the plan of distribution or any other
matter furnished in writing to Investor by or on behalf of any Holder expressly
for use therein and (ii) relate to any sale, transfer or other disposition that
is effected at a time or in any manner that is inconsistent with the provisions
of Section 6.4 or any applicable law, rule or regulation; provided that the
foregoing indemnity agreement with respect to any prospectus or preliminary
prospectus shall not inure to the benefit of a Holder if a copy of the most
current prospectus at the time of the delivery of the Common Stock was not
provided to the purchaser thereof and such current prospectus would have cured
the defect giving rise to such loss, claim, damage or liability.

     6.10.  Indemnification by the Holders.  The Company and each other
            ------------------------------
Holder shall indemnify and hold harmless Investor, its officers, directors,
affiliates, employees, agents and each person, if any, who controls Investor
within the meaning of either Section 15 of the Securities Act or Section 20 of
the Exchange Act to the same extent as the foregoing indemnity from Investor to
the Holders, but only with reference to (i) information relating to the Company
and such Holder, the plan of distribution or any other matter furnished in
writing by or on behalf of the Company and such Holder expressly for use in the
Registration Statement or Prospectus, or any amendment or supplement thereto, or
any preliminary prospectus and (ii) any sale, transfer or other disposition by
the Company and such Holder that is effected at a time or in a manner that is
inconsistent with the provisions of Section 6.4.

     6.11.  Conduct of Indemnification Proceedings.  In case any proceeding
            --------------------------------------
or claim (including any governmental investigation ) shall be instituted or
asserted involving any person in respect of which indemnity may be sought
pursuant to Section 6.9 or Section 6.10, such person (the "Indemnified Party")
shall promptly notify the person against whom such indemnity may be sought (the
"Indemnifying Party") in writing and the Indemnifying Party, upon the request of
the Indemnified Party, shall retain counsel reasonably satisfactory to such
Indemnified Party to represent such Indemnified Party and any others the
Indemnifying Party may designate in such proceeding and shall pay the fees and
disbursements of such counsel related to such proceeding.  In any such
proceeding, any Indemnified Party shall have the right to retain its own
counsel, but the fees and expenses of such counsel shall be at the expense of
such Indemnified Party unless (i) the Indemnifying Party and the Indemnified
Party shall have mutually agreed to the retention of such counsel or (ii) the
named parties to any such proceeding (including any impleaded parties) include
both the Indemnified Party and the Indemnifying Party and representation of both
parties by the same counsel would be inappropriate due to actual or potential
conflict between them.  It is understood that the Indemnifying Party shall not,
in connection with any proceeding or related proceedings in the same
jurisdiction, be liable for the fees and expenses of more than one separate firm
of attorneys (in addition to any local counsel) at any time for all such
Indemnified Parties, and that all such fees and expenses shall be reimbursed as
they are incurred.  In the case of any such separate firm for the Indemnified
Parties, such firm shall be designated in writing by the Indemnified Parties.
The Indemnified Party shall not be liable for any settlement of any proceeding
effected without its written consent, but if settled with such consent, or if
there be a final judgment for the plaintiff, the Indemnifying Party shall
indemnify and hold harmless such Indemnified Parties from and against any loss
or liability (to the extent stated above) by reason of such settlement or
judgment.

                                       15
<PAGE>

     6.12.  Contribution.  If the indemnification provided for in Section
            ------------
6.9 or Section 6.10 is unavailable to an Indemnified Party in respect of any
losses, claims, expenses, damages or liabilities referred to herein, then each
such Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall
contribute to the amount paid or payable by such Indemnified Party as a result
of such losses, claims, damages or liabilities in such proportion as is
appropriate to reflect the relative benefits received by Investor and each
Holder from the offering of the securities and the relative fault of Investor
and the Holder in  connection with the statements, omissions or transactions
that resulted in such losses, claims, expenses, damages or liabilities, as well
as any other relevant equitable considerations (including, without limitation,
the failure of any Holder to comply with the provisions of Section 6.4).  The
relative benefits received by Investor and each Holder shall be deemed to be in
the same respective proportions as the total proceeds from the offering (net of
underwriting discounts and commissions but before deducting expenses) received
by Investor and each Holder bear to the aggregate public offering price of the
securities.  The relative fault of Investor and each Holder shall be determined
by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by such party, the parties'
relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission and the observance of the provisions of this
Agreement.

          Investor and each Holder agree that it would not be just and equitable
if contribution pursuant to this Section were determined by pro rata allocation
or by any other method of allocation that does not take account of the equitable
considerations referred to in the immediately preceding paragraph.  The amount
paid or payable by an Indemnified Party as a result of the losses, claims,
damages or liabilities referred to in the immediately preceding paragraph shall
be deemed to include, subject to the limitations set forth above, any legal or
other expenses reasonably incurred by such Indemnified Party in connection with
investigating or defending any such action or claim.  No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation.

     6.13.  Availability of Rule 144.  Notwithstanding anything contained
            ------------------------
in this Article VI to the contrary, Investor shall have no obligations pursuant
to Article VI for the registration of shares of Common Stock held by any Holder
(i) where such Holder would then be entitled to sell under Rule 144 within any
three-month period (or such other unitary period prescribed under Rule 144 as
may be provided by amendment thereof) all of the shares of Common Stock then
held by such Holder, and (ii) the number of shares of Common Stock held by such
Holder is within the volume limitations under paragraph (e) of Rule 144
(calculated as if such Holder were an affiliate within the meaning of Rule 144).

     6.14.  Reports Under Exchange Act.  With a view to making available to
            --------------------------
the Holders the benefits of Rule 144 promulgated under the Securities Act and
any other rule or regulation of the SEC that may at any time permit the Holders
to sell securities of Investor to the public without registration, Investor
agrees to:

          (a) make and keep public information available, as those terms
are understood and defined in SEC Rule 144, at all times;

          (b) file with the SEC in a timely manner all reports and other
documents required of Investor under the Securities Act and the Exchange Act;
and

                                       16
<PAGE>

          (c) furnish to the Holders, so long as they own any Investor Shares,
forthwith upon request (i) a written statement by Investor that it has complied
with the reporting requirements of SEC Rule 144, the Securities Act and the
Exchange Act, and (ii) a copy of the most recent annual or quarterly report of
Investor and such other reports and documents so filed by Investor.

     6.15.  Additional Investor Shares Subject to Registration Rights.
            ---------------------------------------------------------
Investor agrees that, if requested by the Holders thereof, Investor will prepare
and, subject to the Holders providing the requisite information pursuant to
Section 6.6, file a Registration Statement with the SEC under the Securities Act
and satisfy such filing, registration and qualification requirements of the
relevant state securities (blue sky) laws of such states as the Holders may
reasonably request, covering the sale of the remaining 100,000 Investor Shares
(collectively, the "Remaining Shares"), in the amounts specified below and with
respect to the occurrence of the following events:

          (a) 25,000 shares upon Limited's recognition of an aggregate
cumulative amount of US$10,000,000 in revenue from third parties arising from
the provision of services by the Company pursuant to the Service Agreement;

          (b) 25,000 shares upon Limited's recognition of an aggregate
cumulative amount of US$20,000,000 in revenue from third parties arising from
the provision of services by the Company pursuant to the Service Agreement;

          (c) 25,000 shares upon Limited's recognition of an aggregate
cumulative amount of US$30,000,000 in revenue from third parties arising from
the provision of services by the Company pursuant to the Service Agreement; and

          (d) 25,000 shares upon Limited's recognition of an aggregate
cumulative amount of US$40,000,000 in revenue from third parties arising from
the provision of services by the Company pursuant to the Service Agreement.

Investor will cause to be delivered to the Holders a certificate from Limited
within 45 days after each fiscal quarter of Limited, certifying the cumulative
amount of revenue actually received by Limited through the end of such quarter
from third parties arising from the provision of services by the Company to
Investor pursuant to the Service Agreement.  The additional rights provided to
the Holders pursuant to this Section 6.15 shall (i) terminate upon the
termination or expiration of the Service Agreement (whichever occurs first) and
(ii) be subject to all Holders' obligations, and all conditions and limitations
applicable to the registration of the Investor Shares, as provided in Sections
6.4 through 6.14 hereof.

                                  ARTICLE VII

                                 MISCELLANEOUS
                                 -------------

     7.1. Binding Agreement; Assignment.  All the terms and provisions of
          -----------------------------
this Agreement shall be binding upon, inure to the benefit of, and be
enforceable by, the parties hereto and their respective heirs, legal
representatives, successors and assigns.  This Agreement may not be assigned by
a party without the prior written consent of the other parties hereto.

                                       17
<PAGE>

     7.2. Law To Govern.  Except as to matters governing the issuance of the
          -------------
Purchased Interest (which matters shall be governed by the internal laws of the
State of Delaware), this Agreement shall be construed and enforced in accordance
with the internal laws of the State of New York, in each case without regard to
principles of conflict of laws.  In the case of any dispute or litigation
arising out of, related to, or regarding the validity of, this Agreement, the
parties agree to submit to the nonexclusive jurisdiction of the United States
District Court for the Southern District of New York sitting in Manhattan and
the nonexclusive jurisdiction of the New York Supreme Court for New York County
sitting in Manhattan, and to waive all objections to venue therein.

     7.3. Notices.  All notices shall be in writing and shall be deemed to
          -------
have been duly given if delivered personally, sent by facsimile or three days
after being deposited in the mail if mailed via registered or certified mail,
return receipt requested, postage prepaid to the other party hereto at the
following addresses:

          (a)  if to the Company, to:

               Timothy J. McIntyre
               1735 York Avenue
               Apt. 35C
               New York, NY 10128

               with a copy to:

               Bruno W. Tabis, Jr., Esq.
               Schwartz & Freeman
               401 North Michigan Avenue
               Suite 1900
               Chicago IL 60611
               Telecopier: (312) 222-0818

                                       18
<PAGE>

          (b)  if to Investor, to:

               Mediconsult.com, Inc.
               1330 Avenue of the Americas
               New York, New York  10019
               Attention:  E. Michael Ingram, General Counsel
               and Chief Financial Officer
               Telecopier:  (212) 841-7310

               with a copy to:

               Kelly Vance, Esq.
               Howard, Smith & Levin LLP
               1330 Avenue of the Americas
               New York, New York  10019
               Telecopier:  (212) 841-1010

or to such other address as any such party may designate in writing in
accordance with this Section.

     7.4. Fees and Expenses.  Each of the parties shall pay its own fees
          -----------------
and expenses with respect to the transactions contemplated hereby.

     7.5. Entire Agreement.  This Agreement sets forth the entire
          ----------------
understanding of the parties hereto in respect of the subject matter hereof and
may not be modified, amended or terminated except by a written agreement
specifically referring to this Agreement signed by all of the parties hereto.
This Agreement supersedes all prior agreements and understandings among the
parties with respect to such subject matter.

     7.6. Waivers.  Any failure by any party to this Agreement to comply
          -------
with any of its obligations hereunder may be waived by the Company in the case
of a default by Investor and by Investor in case of a default by the Company.
No waiver shall be effective unless in writing and signed by the party granting
such waiver, and no such waiver shall be deemed a waiver of any subsequent
breach or default of the same or similar nature.

     7.7. No Third-Party Beneficiaries.  Except to the extent Article VI
          ----------------------------
provides certain registration rights to Holders, nothing herein, express or
implied, is intended or shall be construed to confer upon or give to any person,
firm, corporation or legal entity, other than the parties hereto, any rights,
remedies or other benefits under or by reason of this Agreement or any documents
executed in connection with this Agreement.

     7.8. Counterparts.  This Agreement may be executed in any number of
          ------------
counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same agreement.

     7.9. Headings.  The Section and paragraph headings contained herein
          --------
are for the purposes of convenience only and are not intended to define or limit
the contents of said Sections and paragraphs.

                                       19
<PAGE>

    7.10.  Legal and Tax Advice.  Each of the parties hereto covenants,
           --------------------
agrees and acknowledges that each of them was fully and plainly instructed to
seek and obtain independent legal and tax advice regarding the terms and
conditions and execution of this Agreement and each of them has sought and
obtained such legal and tax advice and acknowledges that each has executed this
Agreement voluntarily understanding the nature and effect of this Agreement
after receiving such advice.

    7.11.  Interpretation.  The following rules of interpretation apply to
           --------------
this Agreement:

          (a)  All references in this Agreement to "Sections" and other
subdivisions, unless otherwise expressly stated, are to the designated Sections
and other subdivisions of this Agreement .

          (b)   The words "herein," "hereof" and "hereunder" and other words of
similar import refer to this Agreement and not to any particular Section or
other subdivision.

          (c)   All references to "including" in this Agreement will mean
including without limitation and all references to "or" will not be exclusive.

          (d)   A reference to a law in this Agreement includes any amendment or
modification to such law and any rules or regulations issued thereunder as of
the time such reference is made.

          (e)   A reference to an entity in this Agreement includes its
successors and permitted assigns (if any).

          (f)   The singular includes the plural and vice versa; and the
masculine, feminine and neuter terms include each of the other forms.

    7.12.     Effective Date.  The parties have executed this Agreement on
              --------------
August 20, 1999, to take effect on September 7, 1999.  Except for this Section
7.12, no other provision of this Agreement shall be effective until September 7,
1999.

                                       20
<PAGE>

     IN WITNESS WHEREOF the parties have executed this Agreement as described in
Section 7.12.

<TABLE>
<CAPTION>
                                          <S>             <C>
                                          Investor:

                                                          MEDICONSULT.COM, INC.,
                                                          a Delaware corporation

                                                          By: /s/ E. Michael Ingram
                                                             -------------------------
                                                          E. Michael Ingram
                                                          Chief Financial Officer and General Counsel

                                          Company:

                                                          PHARMA MARKETING, LLC,
                                                          a Delaware limited liability company

                                                          By: /s/ Timothy J. McIntyre
                                                             -------------------------
                                                          Timothy J. McIntyre, President
</TABLE>

                       [Membership Investment Agreement]<PAGE>

                                                                   Exhibit 10.12

                      MEDICAL EDUCATION SERVICES AGREEMENT
                      ------------------------------------

THIS AGREEMENT, effective on September 30, 1999, (the "Effective Date"), is
between Bristol-Myers Squibb Company, having its offices at 345 Park Avenue, New
York, New York ("B-MS"), and Mediconsult.com Limited, with its head office at
Jardine House, 4th Floor, 33-35 Reid Street, Hamilton, Bermuda HM 12,
("Company").

WHEREAS, B-MS is engaged in the development, distribution and sale of
pharmaceutical products supported by innovative, serial, interactive medical
education programs delivered via the internet and facilitated by BMS
representatives;

WHEREAS, Company is engaged in providing internet-based solutions to
pharmaceutical companies, physicians and patients as well as other services to
third parties; and

WHEREAS, the parties desire that Company provide management and logistical
coordination services related to the delivery of live, interactive, B-MS
sponsored opinion leader led, internet delivered programs in conjunction with a
B-MS representative (facilitator) to B-MS in accordance with the terms and
conditions hereinafter specified.

NOW, THEREFORE, in consideration of the promises contained herein and intending
to be legally bound hereby, the parties hereto agree as follows:

1.      Definitions    When used in this Agreement, the following terms shall,
        -----------
        except where the context requires otherwise, have the meanings
        identified below:

        1.1.   Attendee - Any person or persons participating in a medical
               education Program or Meeting.

        1.2.   B-MS Relationship Reconciliation - A written summary of the
               status of all Projects performed during the previous contract
               year, as well as all active, ongoing Projects in the current
               contract year, using the forms provided in Schedule E of this
               Agreement.

                                       1
<PAGE>

        1.3.   B-MS Relationship Review - A meeting between a designated Company
               representative, as specified in a Project Order, and the
               appropriate representative from B-MS, the purpose of which is the
               review of the status of all Projects being performed, and those
               completed, under this Agreement. All meetings required hereunder
               shall be conducted in person, unless the Company's primary
               offices are more than 200 miles from B-MS's Plainsboro/Princeton
               area offices. In such event, teleconference or videoconference
               meetings are an acceptable substitute.

        1.4.   Concierge - An employee of the Company assigned to manage all
               logistics for executing a Program. The concierge will
               specifically manage communications and logistics related to the
               B-MS opinion leader.

        1.5.   Co-Pilot - An individual either from B-MS or the Company who will
               co-facilitate the production of individual Programs.

        1.6.   extraNet Website - An internet site which will allow employees
               from B-MS and the Company to access project management tools, a
               calendar of past and planned Programs, promotional information,
               training tools, and archived Programs.

        1.7.   Initial Term - The period of time commencing on the Effective
               Date and terminating December 31, 2000, unless or until
               terminated by either party in accordance with the terms of this
               Agreement. This period is also referred to as "Stage One".

        1.8.   Management Fee - The fee payable by B-MS to Company for the
               Services performed by Company related to any Meeting, Program or
               Project, assigned to Company under this Agreement.

        1.9.   Meeting - A live, interactive B-MS opinion leader led, internet
               delivered program in conjunction with a B-MS representative
               (facilitator) participation for which Services are provided by
               the Company hereunder. A Meeting may also be archived or
               transferred to cd-rom or any comparable format for subsequent
               viewing by a healthcare provider with or without a B-MS
               representative.

                                       2
<PAGE>

        1.10.  Milestone - A day set forth in each completed Project Order that
               represents a critical step in the completion of a project or
               service as defined in the project timeline.

        1.11.  Pass-Through Expenses - Those third party, and/or all other
               expenses not included in the Management Fee incurred by the
               Company on behalf of B-MS according to the procedures set forth
               herein, either paid by the Company and reimbursable by B-MS or
               directly billed to B-MS through preferred suppliers on behalf of
               the Company.

        1.12.  Program - A live, interactive B-MS opinion leader led, internet
               delivered program in conjunction with a B-MS representative
               (facilitator) participation for which Services are provided by
               the Company hereunder. A Program may also be archived or
               transferred to cd-rolm or any comparable format for subsequent
               viewing by a healthcare provider with or without a B-MS
               representative.

        1.13.  Project - Any Program or Meeting, or series of thereof, assigned
               to Company by BMS for the performance of Services related
               thereto, under the terms of a Project Order attached hereto as
               Schedule D, and hereby made a part hereof.

        1.14.  Project Reconciliation - A written summary of the status of each
               Project including, without limitation, fees paid to Company for
               each Project, and all expenses incurred by Company related to the
               Project.

        1.15.  Project Review - A person to person meeting between a designated
               Company representative, as specified in a Project Order, and the
               appropriate representative from B-MS, the purpose of which is the
               review of the status of any open Project or upon final completion
               of a Project.

        1.16.  Ramp Down Costs - Costs associated with this Agreement or
               Services provided pursuant to an active Project Order. These
               costs will be partially reimbursed in the event the Agreement
               expires after Stage One or Stage Two, terminates or is suspended.
               Such costs may include, but are not limited to, the salaries,
               fringe

                                       3
<PAGE>

               benefits and directly allocated overhead costs related to
               the 3 month ramp down period for any employees who have spent
               more than 80% of the prior 3 months working on B-MS projects
               under this Agreement. The amounts and payment methodologies for
               such Ramp Down Costs are to be negotiated within 30 days of the
               decision to allow the Agreement to expire after Stage One or
               Stage Two, or within 30 days after notification of early
               termination or suspension of this Agreement.

        1.17.  Services - The Meeting or Program services performed in
               accordance with a Project Order, subject to the performance
               standards set forth in Schedule A or as modified in a specific
               Project Order, to be provided by the Company to B-MS during the
               term of this Agreement.

        1.18.  Speaker - Any person requested to speak or present at any
               Meeting, Project or Program

        1.19.  Stage Two - A potential two-year renewal period from January 1,
               2001 through December 31, 2002.

        1.20.  Stage Three - A potential two-year renewal period from January 1,
               2003 through December 31, 2004.

2.      Agreement Term
        --------------

        2.1.   The term of this Agreement shall commence on the Effective Date
               and will continue in effect until December 31, 2000, unless or
               until terminated by either party in accordance with the terms of
               this Agreement. This initial term is also called Stage One of the
               Agreement.

        2.2.   Based on acceptable performance levels by the Company during
               Stage One as determined by B-MS, B-MS and the Company will enter
               into discussions regarding a two year renewal of this Agreement,
               Stage Two (January 1, 2001 through December 31, 2002), by
               September 1, 2000 with final agreement on contract language,
               exclusivity and payment methodologies for additional Programs by
               October 31, 2000. Subject to the parties reaching agreement on
               Stage

                                       4
<PAGE>

               Two, B-MS will employ reasonable best efforts to deploy
               3,000 Programs during Stage Two of the Agreement. Activity scale
               up in Stage Two will be contingent on anticipated reductions in
               the price per program to be provided by the Company. Exclusive of
               quality and/or technology issues and subject to B-MS's rights to
               terminate under Section 14.1., if the parties do not reach an
               agreement related to Stage 2 by October 31, 2000, Stage 1 and all
               open Project Orders will be extended to April 1, 2001 or Project
               completion whichever occurs last. Negotiations of any final Ramp
               Down Costs and related Company service utilization will be
               conducted and finalized between November 1, 2000 and November 30,
               2000.

        2.3.   Based on acceptable performance levels by the Company during
               Stage Two as determined by B-MS, B-MS and the Company will enter
               into discussions regarding a two year renewal of this Agreement,
               Stage Three (January 1, 2003 through December 31, 2004), by
               September 1, 2002 with final agreement on contract language,
               exclusivity and payment methodologies for additional programs by
               October 31, 2002. Exclusive of quality and/or technology issues
               and subject to B-MS's rights to terminate under Section 14.1., if
               the parties do not reach an agreement related to Stage 2 by
               October 31, 2002, Stage 2 and all open Project Orders will be
               extended to April 1, 2003 or Project completion whichever occurs
               last. Negotiations of any final Ramp Down Costs and related
               Company service utilization will be conducted and finalized
               between November 1, 2002 and November 30, 2002.

3.      Services
        --------

        3.1.   B-MS agrees to engage the Company in a minimum of three (3)
               Project Orders during Stage One of this Agreement. Subject to the
               initiation and successful completion, as determined by B-MS, of
               the Services set forth in each Project Order, B-MS agrees to
               compensate the Company up to a maximum of Five Million Dollars
               ($5,000,000) for Services provided under Project Orders 1 and 2.
               It is anticipated that Project Order 3 will cover Services
               provided by the Company

                                       5
<PAGE>

               in the preparation and facilitation of activities related to the
               initial 240 broadcasts to begin July 1, 2000. The detailed
               services, pricing and payment methodologies for Project Order 3
               will be negotiated no later than March 31, 2000 and this
               Agreement will be amended to include services, pricing and
               payment methodologies for Project Order 3.

               3.1.1.    Project Order 1 will include, at a minimum, and require
                         the delivery of full documentation to support the
                         development of the initial business model concept for
                         B-MS requested services, development of B-MS directed
                         customization of the initial business plan, development
                         of initial high level processes, work plans, required
                         components for the initial 240 Programs and all
                         presentations to B-MS and related consulting services.
                         In addition, Project Order 1 will cover all consulting
                         services and processes developed to date. The payment
                         schedule, complete scope of services and activities
                         will be specified in Project Order 1, which shall be
                         submitted by the Company, and if acceptable to B-MS,
                         approved in writing by B-MS prior to the final
                         execution of this Agreement. The maximum payment for
                         Project Order 1 will be One Million Dollars
                         ($1,000,000).

               3.1.2.    Project Order 2 will include, at a minimum, and require
                         delivery of documentation and prototypes for the design
                         and approval by B-MS of detailed process, work plans,
                         systems and organization structures for the opinion
                         leader recruitment and management system, the broadcast
                         scheduling and logistics system and the extranet
                         website. In addition, Project Order 2 will include and
                         provide full documentation of the design of detailed
                         processes and work plans for broadcast execution,
                         content management, training plans and curriculum
                         design for B-MS sales force, Co-Pilots, Concierges and
                         other necessary personnel related to the initial 240
                         programs, delivery of the database cross-match of the
                         POL membership to B-MS's T2001 database, services in
                         preparation and support for Neuroscience Opinion Leader
                         training and services related to the Plan of Action
                         meetings for the Neuroscience/Infectious
                         Disease/Dermatology (NID) sales force, as well as,
                         detailed work plans for

                                       6
<PAGE>

                         all activities related to the 240 programs and
                         execution of activities related to retaining staff to
                         implement the 240 Program roll-out. The payment
                         schedule, complete scope of Services and related
                         activities will be specified in Project Order 1, which
                         shall be submitted by the Company and if acceptable to
                         B-MS approved in writing by B-MS prior to the final
                         execution of this Agreement. The maximum payment for
                         Project Order 2 will be Four Million Dollars
                         ($4,000,000).

               3.1.3.    It is anticipated that Project Order 3 will cover
                         Services provided by the Company in the preparation and
                         facilitation of the initial 240 Programs to begin July
                         1, 2000. The detailed services, pricing and payment
                         methodologies for Project Order 3 will be negotiated no
                         later than March 31, 2000 and this Agreement will be
                         amended to include services, pricing and payment
                         methodologies for Project Order 3.

        3.2.   In addition to the initial 3 Project Orders, B-MS may, from time-
               to-time, engage the Company to provide additional services by
               submitting to the Company a written request for services which
               shall set forth, in sufficient detail, the specifications and
               such other project information as B-MS shall deem appropriate
               ("Additional services"). All Additional services performed by the
               Company for B-MS shall be governed by the terms of this
               Agreement.

        3.3.   Promptly after receipt of such request for Additional services,
               the Company will provide a written proposal containing a
               description of services and associated pricing for performance of
               the Additional services in accordance with said description and
               in accordance with Schedule C. The pricing for, and description
               of services, which shall include the specifications, scope and
               deliverables of the respective project, shall be submitted with a
               completed Project Order, in the format attached hereto as
               Schedule D.

        3.4.   In the event B-MS elects to have the Company perform such
               Additional services for a Project, B-MS shall accept such
               proposal in writing, signified by a completed Project Order,
               signed by a duly authorized representative of each of the

                                       7
<PAGE>

               parties, whereupon the Company shall perform the Additional
               services in accordance with the specifications for that project.

        3.5.   Any changes in specifications, deliverables, scope, or other
               aspects of a Project specified in any Project Order must be
               submitted in writing in a revised Project Order, approved and
               executed by the Company and B-MS prior to the commencement of any
               work related thereto, in accordance with Schedule C. Any
               additional work not directly related to such changes is not
               billable to B-MS.

        3.6.   For the purposes of this Agreement, scope changes include, but
               are not limited to, additions to, reductions in or changes in the
               type of work required for the Services set forth on the original
               Project Order. Additional work required as a result of such scope
               changes shall include hours that the Company will incur as a
               result of such scope changes, provided the additional work is
               approved by B-MS, in writing. Company will promptly submit the
               necessary Project Order schedule(s), attached as Schedules D.1,
               D.2 and D.3, to B-MS when there is a change of scope. The Project
               Order schedules will include costs applicable to each scope
               change, and shall reflect the new, total cost of the Project.

               3.6.1.    Additional work not resulting from scope changes
                         includes, among other things, (i) work required in
                         order to complete deliverables as outlined in the
                         Agreement or Project Order schedules, except where such
                         work is required due to the delay or failure of B-MS to
                         perform as required hereunder or in a Project Order and
                         (ii) work required in B-MS's reasonable discretion as a
                         result of poor quality, ineffective, incorrect, or
                         unsatisfactory work on the part of the Company.

        3.7.   Schedule D.1-D.3 will be attached to each completed Project
               Order, as necessary, and submitted for all Services performed by
               the Company. Estimated costs and hours for each Project will be
               submitted on a separate form (one form per Project). For all
               other Projects, pricing will be submitted in the Company's own
               format, unless B-MS chooses to supply a form for such Projects.

                                       8
<PAGE>

        3.8.   The Company represents and warrants that (i) it has sufficient
               experience and expertise to perform all Services and Projects to
               be performed hereunder, (ii) its personnel will perform all such
               Services and Projects in accordance with the provisions of this
               Agreement including the Confidentiality provisions, and (iii) it
               shall utilize only individuals with suitable professional
               training to perform such Services and Projects. The Company
               shall, at no cost to B-MS, re-perform any work in compliance with
               this warranty. In addition, all Services performed pursuant to
               this Agreement shall be rendered in accordance with all
               applicable industry standards and practices generally applicable
               to the Company's and B-MS' industry, including, without
               limitation, all relevant regulations, laws, guidelines and
               standards including those set forth by the American Medical
               Association ("AMA"), the U.S. Food and Drug Administration
               ("FDA"), the Accreditation Council for Continuing Medical
               Education (the "ACCME") and the performance standards specified
               in Schedule A.

               3.8.1.    Company agrees to provide logistical support consistent
                         with AMA, FDA and ACCME guidance for any medical
                         education program being developed by an independent
                         third party institution under an educational grant from
                         B-MS. The third party institution retains and is
                         responsible for exercising full control over the
                         structure and the content of any activity funded
                         through the grant by B-MS, including the selection of
                         instructors and presenters for any programs or
                         presentations. Generation of participants or audience
                         attendance for the funded independent medical education
                         program will be the responsibility of the third party
                         institution, however, Company may provide limited
                         assistance at the specific direction or request of the
                         third party institution.

        3.9.   Except as otherwise agreed in a Project Order the Company shall
               furnish all personnel, facilities, equipment, material, supplies,
               know-how and otherwise do all things necessary for, or incident
               to, the performance of Services related to each Project. In
               addition, the Company shall not charge B-MS for any Services

                                       9
<PAGE>

               including any Additional services performed by the Company's
               employees under this Agreement if said employees are (i)
               currently performing services for B-MS under a separate
               agreement, and (ii) Company is charging B-MS a full time rate for
               said employees under that separate agreement.

        3.10.  B-MS may, in its reasonable discretion, either reject personnel
               assigned by Company to a Project, or request the Company to
               remove an employee from any Project assigned to the Company
               hereunder. Such requests will be reviewed by the parties in
               advance of any personnel changes and will be considered under
               nondiscriminatory conditions. In the event of such rejection or
               removal, Company shall promptly identify a new person for
               assignment to the Project. To the extent reasonably possible, the
               Company must gain approval from B-MS at least two (2) months
               prior to adding or removing any employee from any Project
               assigned to the Company hereunder.

4.      Payment
        -------

        4.1.   For Services
               ------------

               4.1.1.    B-MS will pay the Company, as full and complete
                         compensation for satisfactorily providing the Services
                         and assuming all duties, responsibilities, and
                         obligations under this Agreement, a management fee and
                         pass through expenses in accordance with the rates and
                         pricing as specified in each Project Order as
                         negotiated and subject to the maximum amount set forth
                         in the Section 3 Services of this Agreement or as
                                          --------
                         amended. The Company shall not incur any expenses to be
                         billed to B-MS for any Services without the prior
                         written approval by an authorized representative of
                         B-MS.

               4.1.2.    For Services requested by B-MS of the Company, effected
                         through a Project Order and matching the service
                         description, B-MS will pay the Company, as full and
                         complete compensation for satisfactorily providing the
                         Services and assuming all duties, responsibilities, and
                         obligations

                                       10
<PAGE>

                         under this Agreement, a Management Fee not to exceed
                         that specified in each Project Order as negotiated.

               4.1.3.    Upon written approval by B-MS of each Project and the
                         related expenses, B-MS shall pay the Company a
                         Management Fee in accordance with the following
                         schedule UNLESS a separate payment schedule is
                         described as part of a completed Project Order:

                         4.1.3.1. One-third of the estimated budget net fifty-
                                  five (55) days following B-MS' receipt of the
                                  Company's invoice, in accordance with Section
                                  4.2 below;

                         4.1.3.2. One-third of the estimated budget net fifty
                                  five (55) days following B-MS' receipt of the
                                  Company's second invoice, in accordance with
                                  Section 4.2 below; and,

                         4.1.3.3. The remaining balance of actual costs related
                                  to the Management Fee incurred for the Project
                                  net fifty-five (55) days following receipt of
                                  the Company's final invoice for such costs.

        4.2.   Billing Procedure: Company shall bill B-MS for fees in
               -----------------
               accordance with the Invoicing Guidelines in Schedule F. If a
               separate payment schedule is NOT described in a specific Project
               Order, the billing shall occur as follows:

               4.2.1.    The Company shall bill B-MS, promptly upon commencement
                         of the Project, for an amount equal to one-third of the
                         Project Management Fee set forth in the Project Order
                         for the respective Project.

               4.2.2.    At the Midpoint of a Project or Program, the Company
                         shall bill B-MS for an amount equal to one-third of the
                         Project Management Fee set forth in the Project Order
                         for the respective Project.

                                       11
<PAGE>

                4.2.3.   Within thirty (30) days of completion of the proposed
                         Services and acceptance of deliverables for each
                         Project, the Company shall (i) submit to B-MS
                         reconciliation reports for the Project or Program,
                         which shall contain the information set forth in, and
                         in a form similar to those set forth on Schedule E, and
                         (ii) bill B-MS the remaining balance of the actual
                         charges, including Management Fee and Pass Through
                         Expenses, incurred for each Project.

                4.2.4.   Invoices shall be payable net fifty-five (55) days
                         following the receipt thereof by B-MS, provided Company
                         submits the reconciliation reports required above.

        4.3.    Pass-Through Expenses: In addition to the agreed upon
                ---------------------
                Management Fee for Services and excluding any Pass-Through
                Expenses which may be directly billed to B-MS by a third party
                on behalf of the Company, B-MS shall reimburse the Company for
                reasonable Pass-Through Expenses incurred in connection with a
                Project and specified in the estimate included within a proposal
                for such Project. Any individual Pass-Through Expense which is
                expected to, is budgeted to, or is likely to exceed $20,000 must
                be submitted to three (3) vendors for bids on the related work,
                or, when less than three (3) vendors are available, to the
                maximum number of vendors reasonably possible.

                4.3.1.  With the exception of expenses that are directly billed
                        to B-MS, Company may bill B-MS an amount equal to no
                        more than 50% of the estimate for Pass-Through Expenses
                        upon commencement of the Project. Company will reconcile
                        these expenses and make appropriate adjustments on the
                        final project invoice presented to B-MS. Invoicing for
                        Pass-Through Expenses will be submitted in accordance
                        with Schedule F.

                4.3.2.  B-MS shall reimburse the Company for the following
                        Pass-Through Expenses:

                                       12
<PAGE>

                        4.3.2.1.  All approved, actual project expenses,
                                  reasonable travel expenses (including
                                  transportation at coach class and hotels and
                                  meals of Company personnel in connection with
                                  necessary and customary servicing of the B-MS
                                  account), the production of materials (with
                                  prior written approval of B-MS) and special
                                  requests by B-MS. Travel to and from B-MS
                                  facilities in the Plainsboro/Princeton area
                                  will be at the Company expense, and time spent
                                  by employees of the Company for such travel
                                  will not be billed to B-MS. All travel outside
                                  the Company's offices directly related to B-MS
                                  Projects requested and approved by B-MS in
                                  advance of the travel period will be paid as
                                  an out-of-pocket expense. All travel
                                  arrangements for Company employees will comply
                                  with the B-MS Travel Policy for Medical
                                           ------------------------------
                                  Education Vendors.
                                  ------------------

                        4.3.2.2.  Facsimile, telexes, long-distance telephone,
                                  telegrams and similar means of communications,
                                  storing, customs, duties, sales and excise
                                  taxes and the like specifically related to
                                  Program Services.

                4.3.3.  The following are not reimbursable Pass-Through
                        Expenses: (i) Company employees' breakfast, snacks,
                        lunches and dinners during the course of normal work
                        days, excluding days in attendance at a Meeting or
                        Program; (ii) Company presentations for additional B-MS
                        products not previously incorporated into this Agreement
                        (unless with prior written approval of B-MS); (iii)
                        handling costs or commissions on honoraria charged by
                        the Company or third parties; and, (iv) Company hours
                        spent in Project Review or B-MS Relationship Review
                        meetings.

                4.3.4.  In no event shall the Company incur total Pass-Through
                        Expenses for any Project which exceed the estimates set
                        forth in the relevant Project Order by five percent
                        (5%), without prior written approval by B-MS. B-MS

                                       13
<PAGE>

                        shall not be obligated to pay Company for any such
                        excess expenses incurred without such prior written
                        approval.

                4.3.5.  Company will not submit an invoice to B-MS for
                        Pass-Through Expenses that will be directly billed to
                        B-MS through preferred suppliers.

                        4.3.5.1.  All documents and packages requiring shipping
                                  service shall be shipped by UPS or Fed Ex in
                                  accordance with the requirements specified in
                                  Schedule G.1.

                        4.3.5.2.  All printed materials, excluding reprographics
                                  and work with a cost under $1,000, shall be
                                  produced by a B-MS preferred printer in
                                  accordance with the requirements specified in
                                  Schedule G.2.

        4.4.    Subject to a specific Project Order, the Company may be
                responsible for handling payment of speaker honoraria and for
                all tax record preparation and reporting associated with Speaker
                honoraria. In addition, honoraria shall be paid to Speakers
                within ten (10) working days of the conclusion of the respective
                Program or Meeting. For the purposes of this Agreement,
                honoraria are considered to be Pass-Through Expenses.

        4.5.    The parties acknowledge that, from time to time, as Project,
                Program or Meeting logistics may require, the Company may
                request and B-MS shall make certain payments directly to a third
                party payee. All such requests by the Company must be submitted
                to B-MS in writing.

        4.6.    No commission.  The Company shall bill B-MS its actual costs
                --------------
                for any Pass-Through Expenses set out in Articles 4.4 and 4.5,
                net of any commissions.

        4.7.    During the term of this Agreement, and for a period of two (2)
                years thereafter, upon reasonable notice and at reasonable
                times, B-MS shall have the right to audit

                                       14
<PAGE>

                and examine all contracts, third party bids, documents,
                correspondence, time sheets, account records, and other material
                (except for individual payroll and personnel records) which
                relate to the B-MS account. Without limiting the generality of
                the foregoing, some examples of documents that may be requested
                include Fee Spending Summary by Project, Fee Spending Summary by
                Employee, Fee Spending Detail by Project, Fee Reconciliation,
                and receipts for expenses. This right may be exercised by any
                employee, agent, representative, attorney or accountant duly
                authorized by B-MS. The expense of such audit or examination
                shall be borne by B-MS.

        4.8.    Notwithstanding anything contained herein to the contrary, B-MS
                shall not be obligated to pay for, and the Company shall not
                invoice B-MS for, any time spent traveling in connection with
                this Agreement or management of employees of the Company with
                regard to such issues as skills, level of proficiency, work
                habits and other items necessary to ensure the high level of job
                performance required in connection with the rendering of
                Services to B-MS but not solely directed to the management or
                conduct of a Project.

5.      Company Performance Review/Reconciliation
        -----------------------------------------

        5.1.    B-MS acknowledges and agrees that B-MS's performance of its
                obligations under this Agreement and cooperation with the
                Company are essential to the Company's ability to provide
                Services in the manner and within the time periods specified in
                the Project Orders, and each party agrees to cooperate in good
                faith and maintain an appropriately high level of effort to meet
                the timetables outlined in the Project Orders and ensure
                effective communication and coordination in all matters
                requiring the joint efforts of B-MS and the Company. To this
                end, during the term of this Agreement B-MS and Company will
                hold monthly meetings on the third Tuesday of each month, or
                such other day as B-MS and Company may agree, attended by
                designated senior managers of both B-MS an Company. The purpose
                of such meetings will be to mutually assess the respective
                parties' level of activity and performance quality as measured
                by a predetermined reporting mechanism

                                       15
<PAGE>

                (Progress/QA/QC/Report Card) hereunder and to coordinate each
                party's role in achieving the goals of this Agreement.

        5.2.    From time to time during the term of this Agreement, but in no
                event less than once per year, B-MS may request, and the Company
                agrees to participate in, a performance evaluation with respect
                to the Company's performance of the Services, the working
                relationship between the Company and B-MS, and the
                implementation of this Agreement.

        5.3.    Within thirty (30) days after the end of each Program or
                Project, the Company will provide B-MS with a Project
                Reconciliation, and promptly thereafter, but no sooner than five
                (5) days after B-MS' receipt of the Project Reconciliation, the
                parties shall meet for a Project Review.

        5.4.    On an annual basis the Company will provide B-MS with the B-MS
                Relationship Reconciliation and promptly thereafter, but no
                sooner than five (5) days after B-MS' receipt of the B-MS
                Relationship Reconciliation, the parties shall meet for a B-MS
                Relationship Review.

6.      Confidential Information
        ------------------------

        6.1.    Company acknowledges and agrees that, while providing Services
                hereunder it may have access to, or become acquainted with,
                certain information that B-MS considers confidential and
                proprietary. For the purposes of this Agreement, "Confidential
                Information" shall include, without limitation, all information
                relating to B-MS' products, B-MS' past, present and future sales
                and marketing information, commercial and financial trade
                secrets, intellectual property, written documents, depictions,
                oral statements, art work, answer prints, and other similar
                information, which is revealed to Company as a result of
                entering into or performing its obligations under this
                Agreement. Confidential Information shall not include any
                information that:

                                       16
<PAGE>

                6.1.1. was known to Company prior to the date of this Agreement,
                       as evidenced by its written records;

                6.1.2. was lawfully obtained by Company from a third party
                       without any obligation of confidentiality;

                6.1.3. is or becomes part of the public domain except by
                       breach of this Agreement;

                6.1.4. is possessed or developed by Company independently and
                       apart from this Agreement; or

                6.1.5. is required to be disclosed pursuant to any statutory,
                       regulatory or judicial requirement or other legal
                       compulsion. In the event Company is compelled to disclose
                       Confidential Information as contemplated herein, Company
                       will provide advance written notice to B-MS prior to
                       making such disclosure, shall inform the receiving party
                       of the confidentiality requirements of this Agreement
                       prior to disclosing any such Confidential Information,
                       and limit any such disclosure to the scope required by
                       the statutory, regulatory, judicial or other legal
                       compulsion.

        6.2.    For a period of five (5) years from the expiration or
                termination of this Agreement, Company shall keep all
                Confidential Information in confidence and use the Confidential
                Information only in connection with the performance of its
                obligations hereunder and for no other purpose, and shall not
                disclose or otherwise make available, directly or indirectly,
                any item of Confidential Information to anyone other than
                Company employees and agents of Company who need to know the
                same in the performance of the Services. Company will require
                all its employees and/or agents having access to B-MS
                Confidential Information to treat such Confidential Information
                in the same manner as they treat Company Confidential
                Information and shall take all such necessary precautions to
                prevent unauthorized disclosure of such Confidential Information

                                       17
<PAGE>

                by its employees, directors, officers or agents. Company shall
                not duplicate any material containing Confidential Information,
                except in the direct performance of the Services under this
                Agreement. Upon request of B-MS, Company shall either return or
                destroy, at B-MS' sole discretion, all Confidential Information
                in its or its agents' possession within thirty (30) days
                following the expiration or termination of this Agreement.

        6.3.    The Company acknowledges that the unauthorized use or disclosure
                of Confidential Information by Company's employees or agents may
                give rise to irreparable injury and that such injury may not be
                adequately compensated by damages, and that, accordingly, B-MS
                may seek and obtain injunctive relief against the Company or any
                individual furnished Confidential Information by B-MS hereunder
                to prevent the breach or threatened breach of any promise made
                in this Agreement, in addition to any other legal remedies which
                may be available to B-MS. The rights of B-MS stated in this
                paragraph shall remain in full force and effect after
                termination of this Agreement.

        6.4.    To the extent B-MS is provided access to or becomes acquainted
                with Confidential Information of Company in connection with this
                Agreement, the foregoing provisions of this Article shall apply
                in a reciprocal manner to the Confidential Information of
                Company and the related obligations of B-MS. However, B-MS's
                obligation herein to the Company is limited to Confidential
                Information specifically identified by the Company as
                confidential, and the Company must reduce to writing and provide
                to B-MS marked as confidential a description of any Confidential
                Information disclosed to B-MS up through the date of execution
                of the Agreement within thirty (30) days of said execution.
                Moreover, all subsequent disclosures of Confidential Information
                by the Company to B-MS must be marked confidential or where oral
                or visual reduced to writing and provided to B-MS within thirty
                (30) days of such disclosure.

         6.5.   Any public announcements or similar publicity with respect to
                the existence and/or terms of this Agreement or any announcement
                or disclosure relating to the

                                       18
<PAGE>

                Services provided hereunder shall be made only upon prior
                written approval by Authorized representatives of the parties.
                Nothing herein shall prevent either party from making such
                disclosures as may be required pursuant to any statutory,
                regulatory or judicial requirement or other legal compulsion
                provided, however, the disclosing party will provide advance
                written notice to the other party prior to making such
                disclosure and limit any such disclosure to the scope required
                by statutory, regulatory or legal compulsion. B-MS acknowledges
                and agrees that the Company: (a) will be required to file this
                Agreement as a "material contract" with the U.S. Securities and
                Exchange Commission ("SEC"), and that the Company will request
                confidential treatment with respect to the Schedules to the
                Agreement and any other parts of the Agreement reasonably
                requested by B-MS; and (b) may include in its filings, reports
                and discussions with the SEC, its stockholders and other persons
                information regarding the Agreement upon written prior approval
                of B-MS. B-MS agrees to consider in good faith any request by
                the Company for consent to include in such filings and reports
                other information regarding the Agreement reasonably requested
                by the Company.

7.      Indemnification
        ---------------

        7.1.    Indemnification by the Company.  The Company shall defend,
                ------------------------------
                indemnify and hold harmless B-MS, its directors, officers,
                employees and agents, and any person or entity which controls
                any of them, from and against any and all claims, suits,
                actions, damages, liabilities, assessments, interest charges,
                penalties, costs or expenses (whether or not arising out of
                third-party claims and including all amounts owed by the parties
                in accordance with the terms of this Agreement), including
                reasonable attorney's fees (collectively, "Liabilities"),
                arising out of (i) the breach by the Company of any of its
                covenants or obligations under this Agreement and (ii) the
                Company's negligence or willful acts or omissions, (iii) libel,
                slander, or defamation, (iv) infringement of copyright or other
                intellectual property right of any kind whatsoever, (v) piracy,
                plagiarism, unfair competition or item misappropriation under
                any implied contract, and (vi) invasion of rights of privacy
                committed or alleged to have been committed in any work prepared
                by,

                                       19
<PAGE>

                for, or on behalf of B-MS hereunder. Indemnification under this
                provision shall survive termination of this Agreement.

        7.2.    Indemnification by B-MS.  B-MS shall defend, indemnify and hold
                ------------------------
                harmless the Company, its directors, officers, employees and
                agents, and any person or entity which controls any of them,
                from and against any and all liabilities arising out of (i) the
                breach by B-MS of any of its covenants or obligations under this
                Agreement; (ii) B-MS' negligence or willful acts or omissions;
                (iii) the manufacture, distribution, use, or sale of any
                products by B-MS or any product liability claim relating to
                products presented at a Meeting; (iv) material created by B-MS
                and provided to Company for the performance of services
                hereunder; (v) infringement of copyright or other intellectual
                property right arising from design requirements or product
                specifications provided in written instructions or materials
                from B-MS; and (vi) B-MS' failure to pay Pass-Through Expenses
                in accordance with Schedule G and Article 4. Indemnification
                under this provision shall survive termination of this
                Agreement.

        7.3.    Indemnification Procedures.  A person or entity (the
                --------------------------
                "Indemnitee") which intends to claim indemnification under this
                Article shall promptly notify the other party (the "Indemnitor")
                in writing, by Certified Mail, return receipt requested, of any
                action, claim or liability in respect of which the Indemnitee
                intends to claim such indemnification. Indemnitor shall
                diligently defend any such third-party action, claim or
                liability. Subject to Indemnitor's agreement to hold the
                Indemnitee harmless therefore and Indemnitor's compliance with
                indemnification obligations, the Indemnitee shall: (i) at the
                Indemnitor's expense, cooperate fully with the Indemnitor and
                its legal representatives in the investigation and defense of
                any action, claim or liability covered by this Agreement; and
                (ii) permit the Indemnitor to settle any such action, claim or
                liability and agrees to the control of such settlement by the
                Indemnitor (provided that such settlement does not adversely
                affect the Indemnitee's rights hereunder or impose any
                obligations on the Indemnitee in addition to those set forth
                herein). No action, claim or liability which does adversely
                affect the Indemnitee's rights hereunder or impose any

                                       20
<PAGE>

                obligations on the Indemnitee in addition to those set forth
                herein shall be settled without the prior written consent of the
                Indemnitee and the Indemnitor. The Indemnitee shall have the
                right, but not the obligation, to be represented by counsel of
                its own selection and at its own expense; provided, however,
                                                          ------------------
                that if the named parties to the action or proceeding include
                both the Indemnitor and the Indemnitee and representation of
                both parties by the same counsel would be inappropriate under
                applicable standards of professional conduct, the expense of
                separate counsel for the Indemnitee shall be paid by the
                Indemnitor.

8.      Additional Products and Projects
        --------------------------------

        8.1.    Additional costs and fees, if any, incurred in connection with
                brands or products not assigned to the Company by B-MS pursuant
                to this Agreement, but included in a subsequent Project Order,
                shall be agreed upon by the parties in writing prior to the
                commencement of any Services related thereto, and shall be
                included in this Agreement as such.

        8.2.    B-MS is under no obligation to employ the Company in connection
                with any projects other than the Projects incorporated herein by
                way of an executed Schedule D.

        8.3.    During the term of this Agreement and for a period of one (1)
                year after any expiration or termination hereof, Company shall
                not provide the same Services to any pharmaceutical, health care
                or biotechnology company, including its affiliates, subsidiaries
                and related companies. Prior to commencing work on any Program,
                Project or Meeting, Company shall inform B-MS of any current
                work it is performing which may be in violation of the foregoing
                terms and discontinue such work immediately.

                                       21
<PAGE>

9.      Change of Ownership
        -------------------

        9.1.    The Company must inform B-MS of any significant change in (i)
                Company ownership and (ii) Company's upper level management
                within five (5) days of such change in ownership by Certified
                Mail, return receipt requested.

10.     Ownership/Trademarks/Copyrights/Inventions
        ------------------------------------------

        10.1.   Intellectual Property/Ownership.  Subject to the rights of
                -------------------------------
                third parties in interest, which rights are disclosed in advance
                in writing to B-MS, and further subject to all applicable laws,
                regulations and guidances, all trademarks and trade names,
                logos, slogans, creative ideas, reports, speeches, computer
                programs and databases, advertisements, layouts, scripts,
                artwork, photographs, designs, slides, copyrights, inventions,
                trademarks or other works designed, compiled, developed or
                created by Company its agents, third party vendors or
                subcontractors for B-MS in connection with this Agreement or
                resulting in whole or in part from Services provided under this
                Agreement ("Intellectual Property"), shall be the sole and
                exclusive property of B-MS. B-MS shall have the full and free
                right to use any and all Intellectual Property wherever and
                whenever it chooses, in any way it deems necessary or advisable,
                without any additional payment of any compensation to Company.
                This Agreement shall be deemed a transfer of copyright of any
                copyrightable subject matter created by Company. Company shall
                execute any and all documents necessary to demonstrate or
                perfect such transfer. Company shall not at any time, in any
                manner, during or after this Agreement, under any circumstances,
                be entitled to or claim any right, title or interest herein or
                any commission, fee or other direct or indirect benefit from
                B-MS or B-MS' parent, subsidiary or affiliate companies, in
                respect of such Intellectual Property created by the Company
                hereunder.

                                       22
<PAGE>

        10.2.   The Company shall immediately (within 5 days) disclose to B-MS,
                in writing, any methodologies, modifications, enhancements,
                programs, tools, technologies, software (including source code,
                object code and documentation related thereto) other materials
                or inventions (each an "Invention") developed by the Company,
                any agents, third party vendors or subcontractors retained by
                the Company in the performance of any activities or services
                related to any Project Order hereunder. Title and license rights
                to all such Inventions shall be the exclusive property of B-MS.
                The Company shall assign, and shall take appropriate steps to
                ensure that all Company personnel and third party vendors are
                obligated to assign to B-MS all right, title and interest each
                may have in any such invention and will cooperate with the
                foregoing.

        10.3.   The Company represents and warrants that it shall execute, or
                cause its agents, third party vendors and/or subcontractors to
                execute any documents necessary or desirable to secure or
                perfect B-MS' legal rights and worldwide ownership in such
                Intellectual Property and Inventions, including, but not limited
                to documents relating to patent, trademark and copyright
                applications. B-MS may, in its sole determination, apply for
                registration of any patent(s), trademark(s), and copyright(s)
                worldwide. B-MS shall pay for any out-of-pocket expenses
                incurred in connection with such cooperation.

        10.4.   Any and all artwork, logos, graphics, video, text, data,
                images, audio, slides, trademarks, tradenames, copyrights,
                patents, intellectual property, proprietary property, and/or
                other materials supplied by or through B-MS to Company in
                connection with this Agreement, as well as the HTML formatting
                code of and domain name or names assigned to the web site, if
                any, shall remain the sole and exclusive property of B-MS (the
                "B-MS Content"). No rights shall be transferred from B-MS to
                Company with respect to any of the B-MS Content or any other
                copyrights, trademarks, trade secrets, patents or other
                intellectual property or proprietary rights provided hereunder,
                except to the extent necessary to perform the activities or
                services under any completed Project Order.

                                       23
<PAGE>

        10.5.   Intellectual Property/Company Duties.  The Company shall not
                ------------------------------------
                adopt, suggest, or recommend the use of any Intellectual
                Property of which the Company has actual knowledge or reason to
                know is identical, nearly identical to, or confusingly similar
                to that owned by or being used by a third party.

        10.6.   The Company agrees that any and all telephone lines, telephone
                numbers, or telephone access acquired by the Company for B-MS,
                under the terms of this Agreement, shall be the sole property of
                B-MS.

11.     Releases
        --------

        11.1.   Subject to all applicable laws, regulations and guidances, B-MS
                shall be responsible for obtaining all properly executed
                releases in connection with scientific or medical papers or
                scientific consultation required in connection with the services
                rendered by the Company, unless such papers and consultation are
                secured directly by the Company.

        11.2.   Any materials furnished by Company pursuant to this Agreement,
                which have not been created for B-MS and are subject to the
                rights of third parties shall be specifically identified to B-MS
                in writing in advance of their proposed use. The Company shall
                obtain (and deliver upon request to B-MS) releases for all
                names, photographs, illustrations, testimonials, and any and all
                other materials used in works which the Company prepares or
                uses. All such releases shall run to B-MS, its agents and
                employees where appropriate and customary. Except for works that
                have been secured by permission, the Company warrants and
                covenants that all works provided by the Company shall be
                original and shall not infringe any copyright or violate any
                rights of any persons or entities whatsoever, except that the
                Company shall not be responsible for any claim arising solely
                from the Company's adherence to B-MS' written instructions or
                directions which do not involve items of the Company's origin,
                design or selection. The rights and obligations of the parties
                under this paragraph shall at all times be subject to all
                applicable laws, regulations and guidances.

                                       24
<PAGE>

        11.3.   The Company shall secure from Speakers, a signed release which
                shall run to B-MS, and which Company will provide to B-MS upon
                request.

12.     Insurance
        ---------

        12.1.   Insurance.  The Company will at all times during the term of
                ---------
                this Agreement maintain appropriate insurance coverage with
                responsible carriers. The Company shall provide B-MS proof of
                such coverage within ten (10) days of the execution of this
                Agreement.

        12.2.   Required Coverage.  The Company shall maintain general liability
                -----------------
                insurance coverage that includes property damage and personal
                injury components. Such insurance coverage, at a minimum, shall
                include the following types and amounts:

                12.2.1.  Workers compensation and employers liability meeting
                         the statutory minimum in the states in which Services
                         are to be performed by Company employees;

                12.2.2.  Commercial general liability insurance including
                         premises and operations coverage with limits of not
                         less than $1,000,000 per occurrence and $2,000,000 per
                         accident; and,

                12.2.3.  Property damage liability insurance with limits of
                         not less than $500,000 per occurrence and $500,000 per
                         accident.

        12.3.   In the event a policy required by this Agreement is canceled
                or reduced to a level below the minimum liability limits
                prescribed hereinabove, the Company shall give B-MS fifteen (15)
                days prior written notice of such termination or reduction. In
                that event, B-MS shall have the right to terminate this
                Agreement if the Company is unable to secure the necessary
                coverage within fifteen (15) days of such notice.

                                       25
<PAGE>

13.     Force Majeure
        -------------

        13.1.   If either party shall be delayed, interrupted or prevented from
                the performance of any obligation hereunder by reason of an Act
                of God, fire, flood, war (declared or undeclared), public
                disaster, strike or labor dispute, governmental enactment, rule
                or regulation, or any other cause beyond such party's control,
                such party shall not be liable to the other and the time for
                performance of such obligation shall be extended for a period
                equal to the duration of the contingency which occasioned the
                delay, interruption or prevention. In relation to any specific
                Project relating to the Product, if such interruption lasts more
                than twenty (20) consecutive days, either party may terminate
                such Project in accordance with the provisions of Article 14.

14.     Termination
        -----------

        14.1.   With or Without Cause
                ---------------------

                14.1.1.   B-MS shall have the right to terminate this Agreement
                          in its entirety, at any time, without cause, upon
                          ninety (90) days' prior written notice, sent Certified
                          Mail, return receipt requested, to the Company. In
                          such event, the Company shall be paid the reasonable
                          and necessary Ramp Down Costs during a wind-down
                          period as mutually agreed by the parties.

                14.1.2.   Either party shall have the right to terminate this
                          Agreement in its entirety, effective immediately, at
                          any time, if the other party fails to perform any
                          material obligation or to cure a material breach,
                          subject to the breaching party receiving written
                          notice of the breach and provided further that such
                          breach is not cured, or (in the event the breach is
                          such that it cannot be cured within thirty (30) days)
                          the breaching party has not commenced to cure the
                          breach within thirty (30) days after written notice,
                          sent Certified Mail, return receipt requested. In such
                          event, the Company

                                       26
<PAGE>

                          shall be paid the reasonable and necessary Ramp Down
                          Costs during a wind-down period as mutually agreed by
                          the parties.

                14.1.3.   In the event B-MS determines that there are regulatory
                          or legal issues related to any Product such that
                          termination of the Agreement or a Project is
                          advisable, B-MS may cancel the Company's Services
                          relating to the Product upon written notice to the
                          Company. In such event, the Company shall be paid the
                          reasonable and necessary Ramp Down Costs during a
                          wind-down period as mutually agreed by the parties.
                          The Company shall not commence any new work upon
                          receipt of notice.

                14.1.4.   Either party shall notify the other in writing or by
                          telefax (confirmed by certified mail) of its intention
                          to terminate. All notices required by this Agreement
                          shall be made, or confirmed, by certified mail, return
                          receipt requested.

        14.2.   Duties of the Parties After Termination
                ---------------------------------------

                14.2.1.  Upon receipt of notice of termination for any reason,
                         the Company shall cease work on all Projects and shall
                         submit to B-MS a written report of the status of all
                         Services within 10 days of receipt of notice to
                         terminate. B-MS shall specify which Projects are to be
                         completed.

                14.2.2.  Upon receipt of notice of termination, the Company
                         shall not commence work on any new Projects, but it
                         shall, only upon B-MS' written direction, complete all
                         work previously approved by B-MS. If either the Company
                         or B-MS desires to terminate all or any portion of work
                         in progress on Projects commenced before receipt of
                         notice of termination, it may do so only upon the
                         parties' mutual determination of the compensation to be
                         received by the Company for partially completed work.

                                       27
<PAGE>

                14.2.3.  If any Project is terminated B-MS will pay the Company
                         the portion of the Management Fee equal in amount to
                         the proportion of work completed for that Project
                         through the effective date of such termination compared
                         to full completion of all work for said Project.

                14.2.4.  Upon termination of this Agreement and upon consent
                         of third party contractors, the Company shall assign to
                         B-MS all of its rights in contracts, agreements,
                         arrangements, or other transactions made with third
                         parties for B-MS' account, effective on the date of
                         termination or on such other date as may be agreed upon
                         by the parties. B-MS shall assume all obligations and
                         indemnify and hold the Company harmless from all
                         liability thereunder. If any contract is non-assignable
                         and consent to assignment is refused, or the Company
                         cannot obtain a release from its obligations, the
                         Company shall continue performance, and B-MS shall meet
                         its obligations, as to the unassigned or unreleased
                         contracts only, as though this Agreement had not been
                         terminated.

                14.2.5.  After the later of expiration of the period of notice
                         or upon completion of all Projects, all rights, duties
                         and responsibilities of both parties arising from this
                         Agreement shall cease, with the following exceptions:

                         14.2.5.1.  B-MS shall assume Company liability under,
                                    indemnify and hold Company harmless with
                                    respect to all outstanding contracts made by
                                    Company on behalf of B-MS pursuant to this
                                    Agreement, through the effective date of any
                                    such termination.

                         14.2.5.2.  All Intellectual Property, Inventions,
                                    B-MS Content and any electronic databases,
                                    property and/or materials either (a) in the
                                    possession or control of the Company, (b)
                                    previously paid for by B-MS, or (c) owned by
                                    B-MS, shall be transferred to B-MS in the
                                    form and in the method

                                       28
<PAGE>

                                    reasonably requested by B-MS, within 30 days
                                    of expiration or termination.

                         14.2.5.3.  All proposed marketing and publication
                                    plans and ideas prepared by and submitted by
                                    the Company and not paid for by B-MS shall
                                    remain in the possession of the Company
                                    unless and until B-MS pays the actual cost
                                    to the Company of such proposed marketing
                                    and publication plans and ideas.

                         14.2.5.4.  The Company agrees to give all reasonable
                                    cooperation toward transferring with
                                    approval of third parties in interest all
                                    reservations, contracts and arrangements
                                    with third parties for materials yet to be
                                    used and all rights and claims thereto and
                                    therein, upon being duly released from the
                                    obligation thereof.

                         14.2.5.5.  The obligation of the parties relating to
                                    Confidential Information shall continue for
                                    a period of five (5) years after any
                                    expiration or termination of this Agreement.

                14.2.6.  For a two (2) year period after termination, the
                         Company shall maintain complete records relating to
                         Services by individual and by project. Such records
                         shall be made available for audit or review by B-MS, at
                         B-MS' expense.

15.     Suspension
        ----------

        15.1.   B-MS shall have the right to suspend all or part of the Services
                by giving the Company ten (10) days prior written notice for
                legal or regulatory issues or thirty (30) days prior written
                notice for other issues, provided that B-MS pays the Company
                for all unavoidable Pass-Through Expenses and Ramp Down Costs
                and

                                       29
<PAGE>

                any uncancellable contracts entered into by the Company,
                pursuant to this Agreement, on behalf of B-MS prior to such
                notice of suspension and actually incurred by the Company during
                such suspension period. The Company shall use its best efforts
                to mitigate B-MS' liability for and shall set forth all such
                unavoidable Pass-Through Expenses and other costs in an
                estimated cost budget prepared by the Company and consented to
                in writing by B-MS. The Company and B-MS shall immediately
                confer concerning all matters related to said suspension. The
                Company shall use its best efforts to reassign Project team
                members and it shall obtain B-MS' written approval prior to
                reassigning any such members. All costs for any Company
                personnel whom the Company is not able to reassign shall be
                borne by B-MS during the term of suspension. Except as otherwise
                set forth in this paragraph, B-MS shall pay Company that portion
                of the Management Fee for suspended Services applicable to the
                work completed thereto. In the event B-MS has paid Company
                Management Fees and, as of the effective date of any such
                suspension, the Company has not performed Services to warrant
                such fees, Company shall promptly reimburse B-MS for such
                portion of the Management Fees attributable to such incomplete
                work.

16.     Assignability
        -------------

        16.1.  This Agreement is a personal service contract and is not
               assignable by the Company. This Agreement is assignable by B-MS
               in whole or in part with the Company's written consent, which
               shall not be unreasonably withheld.

17.     Governing Law
        -------------

        17.1.  This Agreement shall be construed in accordance with the laws
               of the State of New Jersey.

                                       30
<PAGE>

18.     Severability
        ------------

        18.1.   If any provision of this Agreement is declared legally invalid,
                such provision is to that extent omitted but the remainder of
                this Agreement shall continue to be binding upon both parties.

19.     No Waiver
        ---------

        19.1.   No covenant or condition of this Agreement shall be waived
                except by written consent of B-MS and the Company.

        19.2.   Forbearance or indulgence by either party in any regard
                whatsoever shall not constitute a waiver of any covenant or
                condition to be performed by the other party. Until complete
                performance of such covenant or condition, either party shall be
                entitled to invoke any remedy available to it, under this
                Agreement or in equity despite its forbearance or indulgence.

20.     Equal Opportunity Compliance
        ----------------------------

        20.1.  Equal Opportunity: When applicable, the Company agrees to
               ------------------
               comply with the provision of Executive Order 11246 of September
               24, 1965, and all rules, regulations and relevant orders of the
               Secretary of Labor, the provision of the Rehabilitation Act of
               1973, as amended, 29 U.S.C. 701 et seq., and the provision of the
                                               -- ----
               Vietnam Era Veterans Readjustment Assistance Act of 1974, as
               amended, 38 U.S.C. 2012.

21.     Year 2000 Compliance
        --------------------

        21.1.  Definition of "Year 2000 Compliant."  For purposes of this
               ----------------------------------
               Agreement, the phrase "Year 2000 Compliant" shall describe
               hardware, software, and/or firmware on chips, including
               manufacturing process control systems, such as PLC's and bar
               coding devices (collectively, "Computer Systems") which
               consistently

                                                31
<PAGE>

        and reliably have and demonstrate all of the following capabilities and
        operating functionality:

        21.1.1.  To handle information in date fields so as to distinguish dates
                 in the century beginning in 2000 from the same dates in the
                 century beginning in 1900, and also to recognize that the year
                 2000 is a leap year containing the date February 29;

        21.1.2.  To manipulate dates from more than one century without invalid
                 or incorrect results or abnormal program ending, whether the
                 time such manipulation occurs is prior to the year 2000 or
                 after the year 1999;

        21.1.3.  To accommodate and inter-operate adequately with the format or
                 formats of critical date data which the Computer Systems
                 customarily receive as input, and which the Computer Systems
                 customarily make available to other systems as output.

        21.1.4.  Regardless of the content or accuracy of the foregoing
                 disclosures, the Company further represents and warrants to B-
                 MS that there shall be no material and adverse effect upon the
                 Company's timely provision of quality goods and services to B-
                 MS which is attributable to the failure of the Company to
                 achieve Year 2000 Compliance for all of the Company's Systems;

        21.1.5.  In the event any of the goods and/or services provided by the
                 Company to B-MS consists of a license, sale or other transfer
                 of the right to use any items of hardware, software and/or
                 firmware in chips ("Computer System Supplied Item"), all such
                 Computer System Supplied Items are now, and will remain Year
                 2000 Compliant continuously, from the date hereof until June
                 30, 2000, in such a manner that the Computer System Supplied
                 Items will operate between January 1, 2000 and April 1, 2000
                 with substantially

                                       32
<PAGE>

                         the same functionality and performance as such items
                         operated prior to January 1, 2000.

        21.2.  Extension of Warranty Periods.  Notwithstanding any earlier
               ------------------------------
               expiration of warranty period provided hereunder or in any other
               applicable agreement between the parties, the warranty period and
               the period within which B-MS may submit warranty claims with
               respect to breach of the Year 2000 Warranties hereby provided
               shall begin on the date hereof and extend until July 1, 2000.

22.     Headings
        --------
        Article headings used in this Agreement are for convenience only and
        shall not affect the construction of this Agreement.

23.     Entire Agreement
        ----------------

        23.1.  This Agreement, any Schedules attached hereto, and any subsequent
               Project Orders attached hereto, represent the entire agreement
               between the parties with respect to the subject matter thereof,
               and shall not be altered by any oral agreement or representation.
               The terms of this Agreement supersede any existing agreement B-MS
               has with the Company related to the Services, any Projects,
               Programs or Meetings, and any prior or contemporaneous
               communications between the parties with respect to the subject
               matter of this Agreement. Any modification to this Agreement, the
               Schedules, and any future Project Order, must be in writing and
               executed by a duly authorized representative of each party.

24.     Notices
        -------

        24.1.  All notices required or permitted to be given under this
               Agreement shall be in writing and given pursuant to the
               provisions of Article 14.1.4 at the following address:

                         Bristol-Myers Squibb Company
                         777 Scudders Mill Road
                         Plainsboro, New Jersey 08536
                         Attention:  Andrew Abbott

               Mediconsult.com Limited
               Jardine House, 4th Floor

                                       33
<PAGE>

               33-35 Reid Street
               Hamilton, Bermuda HM LX
               Attention:  President

               With a copy to:
               Mediconsult.com, Limited
               1330 Avenue of the Americas
               17th Floor
               New York, New York  10019
               Attention:  General Counsel

                                       34
<PAGE>

IN WITNESS WHEREOF, the parties hereto have entered into this Agreement and
caused it to be executed by their duly authorized representatives.

Mediconsult.com,Limited                   Bristol-Myers Squibb Company

By:   /s/ Robert A. Jennings              By:  /s/ Peter R. Dolan
      ---------------------------              ---------------------------

Name:  Robert A. Jennings                 Name: Peter R. Dolan
       ---------------------------              ---------------------------

Title: Chairman & CEO                     Title: President - BMS
       ---------------------------               ---------------------------

Date: 2-8-00                             Date: 2-15-00
      ---------------------------              ---------------------------

By:                                      By:  /s/ Brian A. Markison
      ---------------------------             ---------------------------

Name:                                    Name: Brian A. Markison
      ---------------------------              ---------------------------

Title:                                   Title: President - NID
      ---------------------------               ---------------------------

Date:                                    Date: 2-15-00
      ---------------------------              ---------------------------

                                      35

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