Document:

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[FLEET CAPITAL CORPORATION LOGO APPEARS HERE]

                                      MASTER EQUIPMENT LEASE AGREEMENT No. 35076
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LESSOR:  FLEET CAPITAL CORPORATION                   LESSEE:  NAVISITE, INC.
         a Rhode Island corporation                           a Delaware corporation

ADDRESS: 50 Kennedy Plaza                            ADDRESS: 400 Minuteman Road
         Providence, Rhode Island  02903-2305                 Andover, Massachusetts 01810

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1.  LEASE OF EQUIPMENT

  Subject to the terms and conditions set forth herein (the "MASTER LEASE") and
in any Lease Schedule incorporating the terms of this Master Lease (each, a
"LEASE SCHEDULE"), Lessor agrees to lease to Lessee, and Lessee agrees to lease
from Lessor, the items and units of personal property described in each such
Lease Schedule, together with all replacements, parts, additions, accessories
and substitutions therefor (collectively, the "EQUIPMENT").  As used in this
Lease, the term "ITEM OF EQUIPMENT" shall mean each functionally integrated and
separately marketable group or unit of Equipment subject to this Lease.  Each
Lease Schedule shall constitute a separate, distinct and independent lease of
Equipment and contractual obligation of Lessee.  References to "THE LEASE,"
"THIS LEASE" or "ANY LEASE" shall mean and refer to any Lease Schedule which
incorporates the terms of this Master Lease, together with all exhibits,
addenda, schedules, certificates, riders and other documents and instruments
executed and delivered in connection with such Lease Schedule or this Master
Lease, all as the same may be amended or modified from time to time.  The
Equipment is to be delivered and installed at the location specified or referred
to in the applicable Lease Schedule.  The Equipment shall be deemed to have been
accepted by Lessee for all purposes under this Lease upon Lessor's receipt of an
Acceptance Certificate with respect to such Equipment, executed by Lessee after
receipt of all other documentation required by Lessor with respect to such
Equipment.  Lessor shall not be liable or responsible for any failure or delay
in the delivery of the Equipment to Lessee for whatever reason.  As used in this
Lease, "ACQUISITION COST" shall mean (a) with respect to all Equipment subject
to a Lease Schedule, the amount set forth as the Acquisition Cost in the Lease
Schedule and the Acceptance Certificate applicable to such Equipment, provided
such amount is paid by Lessor; and (b) with respect to any item of Equipment,
the total amount of all vendor or seller invoices (including Lessee invoices, if
any) for such item of Equipment, together with all acquisition fees and costs of
delivery, installation, testing and related services, accessories, supplies or
attachments procured or financed by Lessor from vendors or suppliers thereof
(including items provided by Lessee) relating or allocable to such item of
Equipment ("RELATED EXPENSES").  As used in this Lease with respect to any
Equipment, the terms "ACCEPTANCE DATE," "RENTAL PAYMENT(S)," "RENTAL PAYMENT
DATE(S)," "RENTAL PAYMENT NUMBERS," "RENTAL PAYMENT COMMENCEMENT DATE," "LEASE
TERM" and "LEASE TERM COMMENCEMENT DATE" shall have the meanings and values
assigned to them in the Lease Schedule and the Acceptance Certificate applicable
to such Equipment.

2.  TERM AND RENT

  The Lease Term for any Equipment shall be as specified in the applicable Lease
Schedule. Rental Payments shall be in the amounts and shall be due and payable
as set forth in the applicable Lease Schedule. Lessee shall, in addition, pay
interim rent to Lessor on a pro-rata, per-diem basis from the Acceptance Date to
the Lease Term Commencement Date set forth in the applicable Acceptance
Certificate, payable on such Lease Term Commencement Date. If any rent or other
amount payable hereunder shall not be paid within 10 days of the date when due,
Lessee shall pay as an administrative and late charge an amount equal to 5% of
the amount of any such overdue payment.  All payments to be made to Lessor shall
be made to Lessor in immediately available funds at the address shown above, or
at such other place as Lessor shall specify in writing.  THIS IS A NON-
CANCELABLE, NON-TERMINABLE LEASE OF EQUIPMENT FOR THE ENTIRE LEASE TERM PROVIDED
IN EACH LEASE SCHEDULE HERETO.

3.  POSSESSION; PERSONAL PROPERTY

  No right, title or interest in the Equipment shall pass to Lessee other than
the right to maintain possession and use of the Equipment for the Lease Term
(provided no Event of Default has occurred) free from interference by any person
claiming by, through, or under Lessor. The Equipment shall always remain
personal property even though the Equipment may hereafter become attached or
affixed to real property.  Lessee agrees to give and record such notices and to
take such other action at its own expense as may be necessary to prevent any
third party (other than an assignee of Lessor) from acquiring or having the
right under any circumstances to acquire any interest in the Equipment or this
Lease.

4.  DISCLAIMER OF WARRANTIES

  LESSOR IS NOT THE MANUFACTURER OR SUPPLIER OF THE EQUIPMENT, NOR THE AGENT
THEREOF, AND MAKES NO EXPRESS OR IMPLIED REPRESENTATIONS  OR  WARRANTIES  AS  TO
ANY MATTER WHATSOEVER, INCLUDING WITHOUT LIMITATION, THE MERCHANTABILITY OF THE
EQUIPMENT, ITS FITNESS FOR A PARTICULAR PURPOSE, ITS DESIGN OR CONDITION, ITS
CAPACITY OR DURABILITY, THE QUALITY OF THE MATERIAL OR WORKMANSHIP IN THE
MANUFACTURE OR ASSEMBLY OF THE EQUIPMENT, OR THE CONFORMITY OF THE EQUIPMENT TO
THE PROVISIONS AND SPECIFICATIONS OF ANY PURCHASE ORDER RELATING THERETO, OR
PATENT INFRINGEMENTS, AND LESSOR HEREBY DISCLAIMS ANY SUCH WARRANTY.  LESSOR IS
NOT RESPONSIBLE FOR ANY REPAIRS OR SERVICE TO THE EQUIPMENT, DEFECTS THEREIN OR
FAILURES IN THE OPERATION THEREOF. Lessee has made the selection of each item of
Equipment and the manufacturer and/or supplier thereof based on its own judgment
and expressly disclaims any reliance upon any statements or representations made
by Lessor.  For so long as no Event of Default (or event or condition which,
with the passage of time or giving of notice, or both, would become such an
Event of Default) has occurred and is continuing, Lessee shall be the
beneficiary of, and shall be entitled to, all rights under any applicable
manufacturer's or vendor's warranties with respect to the Equipment, to the
extent permitted by law.

  If the Equipment is not delivered, is not properly installed, does not operate
as warranted, becomes obsolete, or is unsatisfactory for any reason whatsoever,
Lessee shall make all claims on account thereof solely against the manufacturer
or supplier and not against Lessor, and Lessee shall nevertheless pay all
rentals and other sums payable hereunder.  Lessee acknowledges that neither the
manufacturer or supplier of the Equipment, nor any sales representative or agent
thereof, is an agent of Lessor, and no agreement or representation as to the
Equipment or any other matter by any such sales representative or agent of the
manufacturer or supplier shall in any way affect Lessee's obligations hereunder.

5.  REPRESENTATIONS, WARRANTIES AND COVENANTS
  Lessee represents and warrants to and covenants with Lessor that:

  (a) Lessee has the form of business organization indicated above and is duly
organized and existing in good standing under the laws of the state listed in
the caption of this Master Lease and is duly qualified to do business wherever
necessary to carry on its present business and operations and to own its
property; (b) this Lease has been duly authorized by all necessary action on the
part of Lessee consistent with its form of organization, does not require any
further shareholder or partner approval, does not require the approval of, or
the giving notice to, any federal, state, local or foreign governmental
authority and does not contravene any law binding on Lessee or contravene any
certificate or articles of incorporation or by-laws or partnership certificate
or agreement, or any agreement, indenture, or other instrument to which Lessee
is a party or by which it may be bound; (c) this Lease has been duly executed
and delivered by authorized officers or partners of Lessee and constitutes a
legal, valid and binding obligation of Lessee enforceable in accordance with its
terms; (d) Lessee has not and will not, directly or indirectly, create, incur or
permit to exist any lien, encumbrance, mortgage, pledge, attachment or security
interest on or with respect to the

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Equipment or this Lease (except those of persons claiming by, through or under
Lessor); (e) the Equipment will be used solely in the conduct of Lessee's
business and will remain in the location shown on the applicable Lease Schedule
unless Lessor otherwise agrees in writing and Lessee has completed all
notifications, filings, recordings and other actions in such new location as
Lessor may reasonably request to protect Lessor's interest in the Equipment; (f)
there are no pending or threatened actions or proceedings before any court or
administrative agency which materially adversely affect Lessee's financial
condition or operations, and all credit, financial and other information
provided by Lessee or at Lessee's direction is, and all such information
hereafter furnished will be, true, correct and complete in all material
respects; and (g) Lessor has not selected, manufactured or supplied the
Equipment to Lessee and has acquired any Equipment subject hereto solely in
connection with this Lease and Lessee has received and approved the terms of any
purchase order or agreement with respect to the Equipment.

6.  INDEMNITY

  Lessee assumes the risk of liability for, and hereby agrees to indemnify and
hold safe and harmless, and covenants to defend, Lessor, its employees, servants
and agents from and against: (a) any and all liabilities, losses, damages,
claims and expenses (including legal expenses of every kind and nature) arising
out of the manufacture, purchase, shipment and delivery of the Equipment to
Lessee, acceptance or rejection, ownership, titling, registration, leasing,
possession, operation, use, return or other disposition of the Equipment,
including, without limitation, any liabilities that may arise from patent or
latent defects in the Equipment (whether or not discoverable by Lessee), any
claims based on absolute tort liability or warranty and any claims based on
patent, trademark or copyright infringement; (b) any and all loss or damage of
or to the Equipment; and (c) any obligation or liability to the manufacturer or
any supplier of the Equipment arising under any purchase orders issued by or
assigned to Lessor.

7.  TAXES AND OTHER CHARGES

  Lessee agrees to comply with all laws, regulations and governmental orders
related to this Lease and to the Equipment and its use or possession, and to pay
when due, and to defend and indemnify Lessor against liability for all license
fees, assessments, and sales, use, property, excise, privilege and other taxes
(including any related interest or penalties, except any such interest or
penalties incurred primarily due to any negligence or misconduct of Lessor) or
other charges or fees now or hereafter imposed by any governmental body or
agency upon any Equipment, or with respect to the manufacturing, ordering,
shipment, purchase, ownership, delivery, installation, leasing, operation,
possession, use, return, or other disposition thereof or the rentals hereunder
(other than taxes on or measured solely by the net income of Lessor).  Any fees,
taxes or other lawful charges paid by Lessor upon failure of Lessee to make such
payments shall at Lessor's option become immediately due from Lessee to Lessor.
Lessor shall file timely all necessary personal property returns or declarations
and pay all personal property taxes levied on or assessed against the Equipment
during the Basic Term and any Renewal Term of the applicable Schedule, before
such taxes become delinquent, without any proration whatsoever.  Lessor shall
(a) upon Lessee's request, provide evidence of the filing of the returns or
declarations and the payment of such taxes, or (b) notify Lessee, in sufficient
time for Lessee to file same timely, when by law or local regulation, Lessor
cannot file same.  Lessee, within 10 days of receipt of an invoice for the same,
shall pay to Lessor an amount equal to all such taxes paid by Lessor.  Lessor
shall use commercially reasonably efforts to notify Lessee of the proposed
assessments and/or valuations upon which such taxes are based prior to the due
date thereof, and if Lessor fails to do so and such assessments and/or
valuations are manifestly unreasonable, Lessee shall not be liable to reimburse
Lessor for personal property taxes paid to the extent such personal property
taxes are in excess of those that would be payable based on a reasonable
assessment and/or valuation, provided that Lessee cooperates with Lessor in any
appeal, refund or abatement proceeding Lessor may choose to pursue.

  If any Lease Schedule is denominated as a "TRUE LEASE SCHEDULE," then, with
respect to the Equipment set forth on such True Lease Schedule, Lessee and
Lessor anticipate that Lessor shall be entitled to the following tax benefits
(the "TAX BENEFITS"):  Lessor will be entitled to cost recovery deductions under
Section 168 of the Internal Revenue Code of 1986, as amended (the "CODE"), using
a 200% declining balance method of depreciation switching to the straight line
method for the first taxable year for which such method will yield larger
depreciation deductions, and assuming a half-year convention and zero salvage
value, for the applicable recovery period for such Equipment as set forth in the
True Lease Schedule with respect to such Equipment.  With respect to Equipment
set forth on any such True Lease Schedule, Lessee agrees that:  Lessee will not
claim that Lessee is the owner of the Equipment subject thereto or that Lessee
is otherwise entitled to all or any of the Tax Benefits;  Lessee will not take
any action inconsistent with Lessor's anticipated Tax Benefits;  and the
Equipment will not constitute "public utility property" or "tax-exempt use
property" within the meaning of Sections 168(i)(10) or 168(h) of the Code.  If,
as the result of any act, omission and/or misrepresentation of Lessee, there
shall be a loss, disallowance, recapture or delay in claiming all or any portion
of the Tax Benefits with respect to the Equipment, or there shall be included in
Lessor's gross income for Federal, state or local income tax purposes any amount
on account of any addition, modification or improvement to or in respect of any
of the Equipment made or paid for by Lessee (any loss, disallowance, recapture,
delay or inclusion being herein called a "TAX LOSS"), Lessee shall reimburse
Lessor for such Tax Loss in the manner provided for in this Section 7. Lessee
shall not have any liability to Lessor for indemnification hereunder for any Tax
Loss with respect to a Lease resulting from one or more of the following:  (i)
any voluntary transfer or other disposition by Lessor of any of its interests in
the Lease or the Equipment;  (ii) Lessor's failure to claim or follow the proper
procedure in claiming any Tax Benefit in a proper and timely manner;  and (iii)
Lessor's failure to have sufficient income to utilize any Tax Benefit.  A Tax
Loss shall be deemed to have occurred if either (a) a deficiency shall have been
proposed or a claim has been made that a Tax Loss has so occurred by the
Internal Revenue Service or other taxing authority having jurisdiction, or (b)
independent tax counsel  ("TAX COUNSEL") selected by Lessor and acceptable to
Lessee (which acceptance shall not be unreasonably withheld or delayed by
Lessee) has rendered an opinion to Lessor that such Tax Loss has so occurred.
Lessor shall use its best efforts to promptly provide written notice to Lessee
that a Tax Loss has occurred.  The foregoing indemnities and covenants set forth
in this Section 7 shall continue in full force and effect and shall survive the
expiration or earlier termination of the Lease.

8.  DEFAULT
  Lessee shall be in default of this Lease upon the occurrence of any one or
more of the following events (each an "EVENT OF DEFAULT"):

  (a) Lessee shall fail to make any payment, of rent or otherwise, under any
Lease within 10 days of the date when due, provided Lessee has received not less
than two days notice that such payments was not paid when due; or (b) Lessee
shall fail to obtain or maintain any of the insurance required under any Lease;
or (c) Lessee shall fail to perform or observe any covenant, condition or
agreement under any Lease, and such failure continued for 10 days after notice
thereof to Lessee; or (d) Lessee shall default in the payment or performance of
any indebtedness or obligation to Lessor or any affiliated person, firm or
entity controlling, controlled by or under common control with Lessor, under any
loan, note, security agreement, lease, guaranty, title retention or conditional
sales agreement or any other instrument or agreement evidencing such
indebtedness with Lessor or such other affiliated person, firm or entity
affiliated with Lessor; or (e) any representation or warranty made by Lessee
herein or in any certificate, agreement, statement or document hereto or
hereafter furnished to Lessor in connection herewith, including without
limitation, any financial information disclosed to Lessor, shall prove to be
false or incorrect in any material respect; or (f) death or judicial declaration
of incompetence of Lessee, if an individual; the commencement of any bankruptcy,
insolvency, arrangement, reorganization, receivership, liquidation or other
similar proceeding by or against Lessee or any of its properties or businesses,
or the appointment of a trustee, receiver, liquidator or custodian for Lessee or
any of its properties of business, or if Lessee suffers the entry of an order
for relief under Title 11 of the United States Code; or the making by Lessee of
a general assignment or deed of trust for the benefit of creditors, or (g)
Lessee shall default in any payment or other obligation to any third party and
any applicable grace or cure period with respect thereto has expired; or (h)
Lessee shall terminate its existence by merger, consolidation, sale of
substantially all of its assets or otherwise; or (i) if Lessee is a privately
held entity, and more than 50% of Lessee's voting capital stock or other
equivalent ownership interest, or effective control of such stock or interest in
Lessee, issued and outstanding from time to time, is not retained by the holders
of such stock or interest on the date of this Lease; or (j) if Lessee is a
publicly held corporation, there shall be a change in the ownership of Lessee's
stock such that Lessee is no longer subject to the reporting requirements of the
Securities Exchange Act of 1934, or no longer has a class of equity securities
registered under Section 12 of the Securities Act of 1933; or (k) where no
financial covenants exist in or apply to a Lease Schedule, Lessor shall
determine, in its sole discretion and in good faith, that there has been a
material adverse change in the financial condition of the Lessee since the date
of this Lease, or that Lessee's ability to make any payment hereunder promptly
when due or otherwise comply with the terms of this Lease or any other agreement
between Lessor and Lessee is impaired; or (l) any event or condition set forth

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in subsections (b) through (k) of this Section 8 shall occur with respect to any
guarantor or other person responsible, in whole or in part, for payment or
performance of this Lease; or (m) any event or condition set forth in
subsections (d) through (j) shall occur with respect to any affiliated person,
firm or entity controlling orcontrolled by Lessee. Lessee shall promptly notify
Lessor of the occurrence of any Event of Default or the occurrence or existence
of any event or condition which, upon the giving of notice of lapse of time, or
both, may become an Event of Default.

9.  REMEDIES; MANDATORY PREPAYMENT.

  Upon the occurrence of any Event of Default, Lessor may, at its sole option
and discretion, exercise one or more of the following remedies with respect to
any or all of the Equipment: (a) cause Lessee to promptly return, at Lessee's
expense, any or all Equipment to such location as Lessor may designate in
accordance with the terms of Section 18 of this Master Lease, or Lessor, at its
option, may enter upon the premises where the Equipment is located and take
immediate possession of and remove the same by summary proceedings or otherwise,
all without liability to Lessor for or by reason of damage to property or such
entry or taking possession except for Lessor's gross negligence or willful
misconduct; (b) sell any or all Equipment at public or private sale or otherwise
dispose of, hold, use, operate, lease to others or keep idle the Equipment, all
as Lessor in its sole discretion may determine and all free and clear of any
rights of Lessee; (c) remedy such default, including making repairs or
modifications to the Equipment, for the account and expense of Lessee, and
Lessee agrees to reimburse Lessor for all of Lessor's costs and expenses; (d) by
written notice to Lessee, terminate the Lease with respect to any or all Lease
Schedules and the Equipment subject thereto, as such notice shall specify, and,
with respect to such terminated Lease Schedules and Equipment, declare
immediately due and payable and recover from Lessee, as liquidated damages for
loss of Lessor's bargain and not as a penalty, an amount equal to the Stipulated
Loss Value, calculated as of the next following Rental Payment Date; (e) apply
any deposit or other cash collateral or sale or remarketing proceeds of the
Equipment at any time to reduce any amounts due to Lessor, and (f) exercise any
other right or remedy which may be available to Lessor under applicable law, or
proceed by appropriate court action to enforce the terms hereof or to recover
damages for the breach hereof, including reasonable attorneys' fees and court
costs.  Notice of Lessor's intention to accelerate, notice of acceleration,
notice of nonpayment, presentment, protest, notice of dishonor, or any other
notice whatsoever are hereby waived by Lessee and any endorser, guarantor,
surety or other party liable in any capacity for any of the Lessee's obligations
under or in respect of the Lease.  No remedy referred to in this Section 9 shall
be exclusive, but each shall be cumulative and in addition to any other remedy
referred to above or otherwise available to Lessor at law or in equity.

  The exercise or pursuit by Lessor of any one or more of such remedies shall
not preclude the simultaneous or later exercise or pursuit by Lessor of any or
all such other remedies, and all remedies hereunder shall survive termination of
this Lease.  At any sale of the Equipment pursuant to this Section 9, Lessor may
bid for the Equipment.  Notice required, if any, of any sale or other
disposition hereunder by Lessor shall be satisfied by the mailing of such notice
to Lessee at least seven (7) days prior to such sale or other disposition.  In
the event Lessor takes possession and disposes of the Equipment, the proceeds of
any such disposition shall be applied in the following order: (1) to all of
Lessor's costs, charges and expenses incurred in taking, removing, holding,
repairing and selling or leasing the Equipment; (2) to the extent not previously
paid by Lessee, to pay Lessor for any damages then remaining unpaid hereunder;
(3) to reimburse Lessee for any sums previously paid by Lessee as damages
hereunder; and (4) the balance, if any, shall be retained by Lessor.  A
termination shall occur only upon written notice by Lessor and only with respect
to such Equipment as Lessor shall specify in such notice.  Termination under
this Section 9 shall not affect Lessee's duty to perform Lessee's obligations
hereunder to Lessor in full.  Lessee agrees to reimburse Lessor on demand for
any and all costs and expenses incurred by Lessor in enforcing its rights and
remedies hereunder following the occurrence of an Event of Default, including,
without limitation, reasonable attorney's fees, and the costs of repossession,
storage, insuring, reletting, selling and disposing of any and all Equipment.

  The term "STIPULATED LOSS VALUE" with respect to any item of Equipment shall
mean the Stipulated Loss Value as set forth in any Schedule of Stipulated Loss
Values attached to and made a part of the applicable Lease Schedule. If there is
no such Schedule of Stipulated Loss Values, then the Stipulated Loss Value with
respect to any item of Equipment on any Rental Payment Date during the Lease
Term shall be an amount equal to the sum of:  (a) all Rental Payments and other
amounts then due and owing to Lessor under the Lease, together with all accrued
interest and late charges thereon calculated through and including the date of
payment; plus (b) the net present value of: (i) all Rental Payments then
remaining unpaid for the Lease Term, plus (ii) the amount of any purchase
obligation with respect to such item of Equipment or, if there is no such
obligation, then the fair market value of such item of Equipment at the end of
the Lease Term, as estimated by Lessor in its sole discretion (accounting for
the amount of any unpaid Related Expenses for such item of Equipment and, with
respect to any such item of Equipment that has been attached to or installed on
or in any other property leased or owned by Lessee, such value shall be
determined on an installed basis, in place and in use), all discounted to net
present value at a discount rate equal to the 1-year Treasury Constant Maturity
rate as published in the Selected Interest Rates table of the Federal Reserve
statistical release H.15(519) for the week ending immediately prior to the
original Acceptance Date for such Equipment.

  Lessee is or may become indebted under or in respect of one or more leases,
loans, notes, credit agreements, reimbursement agreements, security agreements,
title retention or conditional sales agreements, or other documents, instruments
or agreements, whether now existing or hereafter arising, evidencing Lessee's
obligations for the payment of borrowed money or other financial accommodations
("OBLIGATIONS") owing to FCC, or to one or more affiliated persons, firms or
entities controlling, controlled by or under common control with Lessor
("AFFILIATES").  If Lessee pays or prepays all or substantially all of its
Obligations owing to any Affiliate, and such payment or prepayment is
involuntarily made by Lessee after any default or acceleration of such
Obligations, then Lessee shall pay, at Lessor's option and immediately upon
notice from Lessor, all or any part of Lessee's Obligations owing to Lessor,
including but not limited to Lessee's payment of Stipulated Loss Value for all
or any Lease Schedules as set forth in such notice from Lessor.

10.  ADDITIONAL SECURITY

  For so long as any obligations of Lessee shall remain outstanding under any
Lease, Lessee hereby grants to Lessor a security interest in all of Lessee's
rights in and to Equipment subject to such Lease from time to time, to secure
the prompt payment and performance when due (by reason of acceleration or
otherwise) of each and every indebtedness, obligation or liability of Lessee, or
any affiliated person, firm, or entity controlled by Lessee, owing to Lessor,
whether now existing or hereafter arising, including but not limited to all of
such obligations under or in respect of any Lease.  The extent to which Lessor
shall have a purchase money security interest in any item of Equipment under a
Lease which is deemed to create a security interest under Section 1-201(37) of
the Uniform Commercial Code shall be determined by reference to the Acquisition
Cost of such item financed by Lessor.  In order to more fully secure its rental
payments and all other obligations to Lessor hereunder, Lessee hereby grants to
Lessor a security interest in any deposit of Lessee to Lessor under Section 3(d)
of any Lease Schedule hereto.  Such security deposit shall not bear interest,
may be commingled with other funds of Lessor and shall be immediately restored
by Lessee if applied under Section 9.  Upon expiration of the Lease Term of this
Lease and satisfaction of all of Lessee's obligations, the security deposit
shall be returned to Lessee.  The term "LESSOR" as used in this Section 10 shall
include any affiliated person, firm or entity controlling, controlled by or
under common control with Lessor.

11.  NOTICES

  Any notices or demands required or permitted to be given under this Lease
shall be given in writing and by certified mail or recognized overnight courier
and shall become effective upon receipt to Lessor to the attention of Customer
Accounts, and to Lessee at the address set forth above, or to such other address
as the party to receive notice hereafter designates by such written notice.

12.  USE; MAINTENANCE; INSPECTION; LOSS AND DAMAGE

  During the Lease Term for each item of Equipment, Lessee shall, unless Lessor
shall otherwise consent in writing: (a) permit each item of Equipment to be used
only within the continental United States by qualified personnel solely for
business purposes and the purpose for which it was designed and shall, at its
sole expense, service, repair, overhaul and maintain each item of Equipment in
the same condition as when received, ordinary wear and tear excepted, in good
operating order, consistent with prudent industry practice (but, in no event
less than the same extent to which Lessee maintains other similar equipment in
the prudent management of its assets and properties) and in compliance with all
applicable laws, ordinances, regulations, and conditions of all insurance
policies required to be maintained by Lessee under the Lease and all manuals,
orders, recommendations, instructions and other written requirements as to the
repair and maintenance of such item of Equipment issued at any time by the

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vendor and/or manufacturer thereof; (b) maintain conspicuously on any Equipment
such labels, plates, decals or other markings as Lessor may reasonably require,
stating that Lessor is owner of such Equipment; (c) furnish to Lessor such
information concerning the condition, location, use and operation of the
Equipment as Lessor may request; (d) permit any person designated by Lessor to
visit and inspect any Equipment and any records maintained in connection
therewith, provided, however, that the failure of Lessor to inspect the
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Equipment or to inform Lessee of any noncompliance shall not relieve Lessee of
any of its obligations hereunder; (e) if any Equipment does not comply with the
requirements of this Lease, Lessee shall, within 30 days of written notice from
Lessor, bring such Equipment into compliance; (f) not use any Equipment, nor
allow the same to be used, for any unlawful purpose, nor in connection with any
property or material that would subject the Lessor to any liability under any
state or federal statute or regulation pertaining to the production, transport,
storage, disposal or discharge of hazardous or toxic waste or materials; and (g)
make no additions, alterations, modifications or improvements (collectively,
"IMPROVEMENTS") to any item of Equipment that are not readily removable without
causing material damage to such item of Equipment or which will cause the value,
utility or useful life of such item of Equipment to materially decline. If any
such Improvement is made and cannot be removed without causing material damage
or decline in value, utility or useful life (a "NON-SEVERABLE IMPROVEMENT"),
then Lessee warrants that such Non-Severable Improvement shall immediately
become Lessor's property upon being installed and shall be free and clear of all
liens and encumbrances and shall become Equipment subject to all of the terms
and conditions of the Lease. All such Improvements that are not Non-Severable
Improvements shall be removed by Lessee prior to the return of the item of
Equipment hereunder or such Improvements shall also become the sole and absolute
property of Lessor without any further payment by Lessor to Lessee and shall be
free and clear of all liens and encumbrances whatsoever. Lessee shall repair all
damage to any item of Equipment caused by the removal of any Improvement so as
to restore such item of Equipment to the same condition which existed prior to
its installation and as required by this Lease.

  Lessee hereby assumes all risk of loss, damage or destruction for whatever
reason to the Equipment from and after the earlier of the date (i) on which the
Equipment is ordered or (ii) Lessor pays the purchase price of the Equipment,
and continuing until the Equipment has been returned to, and received by, Lessor
in the condition required by Section 18 hereof upon the expiration of the Lease
Term. If during the Lease Term all or any portion of an item of Equipment shall
become lost, stolen, destroyed, damaged beyond repair or rendered permanently
unfit for use for any reason, or in the event of any condemnation, confiscation,
theft or seizure or requisition of title to or use of such item, Lessee shall
immediately pay to Lessor an amount equal to the Stipulated Loss Value of such
item of Equipment, as of the next following Rental Payment Date.

13.  INSURANCE

  Lessee shall procure and maintain insurance in such amounts and upon such
terms and with such companies as Lessor may approve, during the entire Lease
Term and until the Equipment has been returned to, and received by, Lessor in
the condition required by Section 18 hereof, at Lessee's expense, provided that
in no event shall such insurance be less than the following coverages and
amounts: (a) Worker's Compensation and Employer's Liability Insurance, in the
full statutory amounts provided by law; (b) Comprehensive General Liability
Insurance including product/completed operations and contractual liability
coverage, with minimum limits of $1,000,000 each occurrence, and Combined Single
Limit Body Injury and Property Damage, $1,000,000 aggregate, where applicable;
and (c) All Risk Physical Damage Insurance, including earthquake and flood, on
each item of Equipment, in an amount not less than the greater of the Stipulated
Loss Value of the Equipment or (if available) its full replacement value. Lessor
will be included as an additional insured and loss payee as its interest may
appear. Such policies shall be endorsed to provide that the coverage afforded to
Lessor shall not be rescinded, impaired or invalidated by any act or neglect of
Lessee. Lessee agrees to waive Lessee's right and its insurance carrier's rights
of subrogation against Lessor for any and all loss or damage.

  In addition to the foregoing minimum insurance coverage, Lessee shall procure
and maintain such other insurance coverage as Lessor may require from time to
time during the Lease Term. All policies shall be endorsed or contain a clause
requiring the insurer to furnish Lessor with at least 30 days' prior written
notice of any material change, cancellation or non-renewal of coverage. Upon
execution of this Lease, Lessee shall furnish Lessor with a certificate of
insurance or other evidence satisfactory to Lessor that such insurance coverage
is in effect, provided, however, that Lessor shall be under no duty either to
ascertain the existence of or to examine such insurance coverage or to advise
Lessee in the event such insurance coverage should not comply with the
requirements hereof. In case of failure of Lessee to procure or maintain
insurance, Lessor may at its option obtain such insurance, the cost of which
will be paid by the Lessee as additional rentals. Lessee hereby irrevocably
appoints Lessor as Lessee's attorney-in-fact to file, settle or adjust, and
receive payment of claims under any such insurance policy and to endorse
Lessee's name on any checks, drafts or other instruments on payment of such
claims. Lessee further agrees to give Lessor prompt notice of any damage to or
loss of, the Equipment, or any part thereof.

14.  LIMITATION OF LIABILITY

  Lessor shall have no liability in connection with or arising out of the
ownership, leasing, furnishing, performance or use of the Equipment or any
special, indirect, incidental or consequential damages of any character,
including, without limitation, loss of use of production facilities or
equipment, loss of profits, property damage or lost production, whether suffered
by Lessee or any third party.

15.  FURTHER ASSURANCES

  Lessee shall promptly execute and deliver to Lessor such further documents and
take such further action as Lessor may require in order to more effectively
carry out the intent and purpose of this Lease.  Lessee shall provide to Lessor,
within 120 days after the close of each of Lessee's fiscal years, and, upon
Lessor's request, within 45 days of the end of each quarter of Lessee's fiscal
year, a copy of its financial statements prepared in accordance with generally
accepted accounting principles and, in the case of annual financial statements,
audited by independent certified public accountants, and in the case of
quarterly financial statements certified by Lessee's chief financial officer.
Lessee's timely filing of its financial statements with the Securities and
Exchange Commission on Form 10-K and Form 10-Q in compliance with the
requirements thereof will satisfy the preceding financial statement reporting
requirements.  Lessee shall also furnish Lessor an annual operating budget
within 45 days following the end of each of Lessee's fiscal years during the
Lease Term and any Renewal Term.  Lessee shall execute and deliver to Lessor
upon Lessor's request any and all schedules, forms and other reports and
information as Lessor may deem necessary or appropriate to respond to
requirements or regulations imposed by any governmental authorities.  Lessee
shall execute and deliver to Lessor upon Lessor's request such further and
additional documents, instruments and assurances as Lessor deems necessary (a)
to acknowledge and confirm, for the benefit of Lessor or any assignee or
transferee of any of Lessor's rights, title and interests hereunder (an
"ASSIGNEE"), all of the terms and conditions of all or any part of this Lease
and Lessor's or Assignee's rights with respect thereto, and Lessee's compliance
with all of the terms and provisions hereof and (b) to preserve, protect and
perfect Lessor's or Assignee's right, title or interest hereunder and in any
Equipment, including, without limitation, such UCC financing statements or
amendments, corporate resolutions, certificates of compliance, notices of
assignment or transfers of interests, and restatements and reaffirmations of
Lessee's obligations and its representations and warranties with respect thereto
as of the dates requested by Lessor from time to time.  In furtherance thereof,
Lessor may file or record this Lease or a memorandum or a photocopy hereof
(which for the purposes hereof shall be effective as a financing statement) so
as to give notice to third parties, and Lessee hereby appoints Lessor as its
attorney-in-fact to execute, sign, file and record UCC financing statements and
other lien recordation documents with respect to the Equipment where Lessee
fails or refuses to do so after Lessor's written request, and Lessee agrees to
pay or reimburse Lessor for any filing, recording or stamp fees or taxes arising
from any such filings.

16.  ASSIGNMENT

  This Lease and all rights of Lessor hereunder shall be assignable by Lessor,
at the sole cost of Lessor provided that such assignment is not made in
connection with an Event of Default, absolutely or as security, without notice
to Lessee, subject to the rights of Lessee hereunder for the use and possession
of the Equipment for so long as no Event of Default has occurred and is
continuing hereunder.  Any such assignment shall not relieve Lessor of its
obligations hereunder unless specifically assumed by the assignee, and LESSEE
AGREES IT SHALL NOT ASSERT ANY DEFENSE, RIGHTS OF SET-OFF OR COUNTERCLAIM
AGAINST ANY ASSIGNEE TO WHICH LESSOR SHALL HAVE ASSIGNED ITS RIGHTS AND
INTERESTS HEREUNDER, NOR HOLD OR ATTEMPT TO HOLD SUCH ASSIGNEE LIABLE FOR ANY OF
LESSOR'S OBLIGATIONS HEREUNDER.  No such assignment shall materially increase
Lessee's obligations hereunder.    LESSEE SHALL NOT ASSIGN OR DISPOSE OF ANY OF
ITS RIGHTS OR OBLIGATIONS UNDER THIS LEASE OR ENTER INTO ANY SUBLEASE WITH
RESPECT TO ANY OF THE EQUIPMENT WITHOUT THE EXPRESS PRIOR WRITTEN CONSENT OF
LESSOR.

                                       4
<PAGE>

17.  LESSEE'S OBLIGATION UNCONDITIONAL

  This Lease is a net lease and Lessee hereby agrees that it shall not be
entitled to any abatement of rents or of any other amounts payable hereunder by
Lessee, and that its obligation to pay all rent and any other amounts owing
hereunder shall be absolute and unconditional under all circumstances,
including, without limitation, the following circumstances: (i) any claim by
Lessee to any right of set-off, counterclaim, recoupment, defense or other right
which Lessee may have against Lessor, any seller or manufacturer of any
Equipment or anyone else for any reason whatsoever; (ii) the existence of any
liens, encumbrances or rights of others whatsoever with respect to any
Equipment, whether or not resulting from claims against Lessor not related to
the ownership of such Equipment; or (iii) any other event or circumstances
whatsoever.  Each Rental Payment or other amount paid by Lessee hereunder shall
be final and Lessee will not seek to recover all or any part of such payment
from Lessor for any reason whatsoever.

18.  RETURN OF EQUIPMENT

  Upon the expiration or earlier termination of the Lease Term with respect to
any Equipment, and provided that Lessee has not validly exercised any purchase
option with respect thereto, Lessee shall: (a) return the Equipment to a
location and in the manner designated by the Lessor within the continental
United States, including, as reasonably required by Lessor, securing
arrangements for the disassembly and packing for shipment by an authorized
representative of the manufacturer of the Equipment, shipment with all parts and
pieces on a carrier designated or approved by Lessor, and then reassembly
(including, if necessary, repair and overhaul) by such representative at the
return location in the condition the Equipment is required to be maintained by
the Lease and in such condition as will make the Equipment immediately able to
perform all functions for which the Equipment was originally designed (or as
upgraded during the Lease Term), and immediately qualified for the
manufacturer's (or other authorized servicing representative's) then-available
service contract or warranty; (b) cause the Equipment to qualify for all
applicable licenses or permits necessary for its operation for its intended
purpose and to comply with all specifications and requirements of applicable
federal, state and local laws, regulations and ordinances; (c) upon Lessor's
request, provide suitable storage, acceptable to Lessor, for the Equipment for a
period not to exceed 180 days from the date of return; (d) cooperate with Lessor
in attempting to remarket the Equipment, including display and demonstration of
the Equipment to prospective purchasers or lessees, and allowing Lessor to
conduct any private or public sale or auction of the Equipment on Lessee's
premises.  All costs incurred in connection with any of the foregoing shall be
the sole responsibility of the Lessee.  During any period of time from the
expiration or earlier termination of the Lease until the Equipment is returned
in accordance with the provisions hereof or until Lessor has been paid the
applicable purchase option price if any applicable purchase option is exercised,
Lessee agrees to pay to Lessor additional per diem rent ("HOLDOVER RENT"),
payable promptly on demand in an amount equal to average monthly Rental Payment
payable during the Lease Term divided by 30, provided, however, that nothing
                                             --------  -------
contained herein and no payment of Holdover Rent hereunder shall relieve Lessee
of its obligation to return the Equipment upon the expiration or earlier
termination of the Lease.

19.  RELATED LEASE SCHEDULES

  "RELATED LEASE SCHEDULES" means and refers to:  (i) Leases covering Equipment
intended to be or which otherwise becomes attached to, affixed to, or used in
connection with other Equipment subject to any other Lease hereunder, or (ii)
Leases entered into pursuant to or in respect of a single credit offering
memorandum or credit approval of Lessor.  Lessee agrees that if:  (a) if Lessee
elects to exercise any purchase option, early termination option, renewal
option, purchase obligation or early purchase option under any Related Lease
Schedule; or (b) Lessee elects to return the Equipment under any Related Lease
Schedule in accordance therewith, then, in either case, Lessor shall have the
                                  ----
right, in its sole discretion, to require Lessee to elect the same or similar
disposition for all Equipment subject and pursuant to the terms and provisions
of one or more other Related Lease Schedules.

20.  MISCELLANEOUS; ENFORCEABILITY AND GOVERNING LAW

  The term "LESSEE" as used in the Lease shall mean and include any and all
Lessees who sign below, each of whom shall be jointly and severally liable under
the Lease.  This Master Lease will not be binding on Lessor until accepted and
executed by Lessor, notice of which is hereby waived by Lessee.  Any waiver of
the terms hereof shall be effective only in the specific instance and for the
specific purpose given.  Time is of the essence in the payment and performance
of all of Lessee's obligations under the Lease.  The captions in this Lease are
for convenience only and shall not define or limit any of the terms hereof.

  Any provisions of this Lease which are unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such
unenforceability without invalidating the remaining provisions hereof, and any
such unenforceability in any jurisdiction shall not render unenforceable such
provisions in any other jurisdiction.  To the extent permitted by applicable
law, Lessee hereby waives; (a) any provisions of law which render any provision
hereof unenforceable in any respect; (b) all rights and remedies under Rhode
Island General Laws Sections 6A-2.1-508 through 522 or corresponding provisions
of the Uniform Commercial Code article or division pertaining to personal
property leasing in any jurisdiction in which enforcement of this Lease is
sought.

  THIS LEASE AND THE LEGAL RELATIONS OF THE PARTIES HERETO SHALL IN ALL RESPECTS
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF RHODE
ISLAND, WITHOUT REGARD TO PRINCIPLES REGARDING THE CHOICE OF LAW.  LESSEE HEREBY
CONSENTS AND SUBMITS TO THE JURISDICTION OF THE COURTS OF THE STATE OF RHODE
ISLAND AND THE FEDERAL DISTRICT COURT FOR THE DISTRICT OF RHODE ISLAND FOR THE
PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF ITS OBLIGATIONS
HEREUNDER, AND EXPRESSLY WAIVES ANY OBJECTIONS THAT IT MAY HAVE TO THE VENUE OF
SUCH COURTS.  LESSEE HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY
ACTION BROUGHT ON OR WITH RESPECT TO THIS LEASE.  Any action by Lessee against
Lessor for any cause of action relating to this Lease shall be brought within
one year after any such cause of action first arises.

  THIS LEASE REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES CONCERNING THE
LEASE OF THE EQUIPMENT AND CONSTITUTES THE ENTIRE AGREEMENT BETWEEN THE PARTIES
SUPERSEDING ANY AND ALL CONFLICTING TERMS OR PROVISIONS OF ANY PRIOR PROPOSALS,
COMMITMENT LETTERS, TERM SHEETS OR OTHER AGREEMENTS OR UNDERSTANDINGS BETWEEN
THE PARTIES.  THIS LEASE MAY NOT BE CONTRADICTED BY EVIDENCE OF (i) ANY PRIOR
WRITTEN OR ORAL AGREEMENTS OR UNDERSTANDINGS, OR (ii) ANY CONTEMPORANEOUS OR
SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS BETWEEN THE PARTIES, AND LESSEE
ACKNOWLEDGES AND CERTIFIES THAT NO SUCH ORAL OR WRITTEN AGREEMENTS OR
UNDERSTANDINGS EXIST AS OF THE DATE OF THIS LEASE.  THIS LEASE MAY NOT BE
AMENDED, NOR MAY ANY RIGHTS UNDER THE LEASE BE WAIVED, EXCEPT BY AN INSTRUMENT
IN WRITING SIGNED BY THE PARTY CHARGED WITH SUCH AMENDMENT OR WAIVER.

Executed and delivered by duly authorized representatives of the parties hereto
as of the date set forth below.

DATED AS OF: May 26, 2000

FLEET CAPITAL CORPORATION                       NAVISITE, INC.

By:  /s/ David W. Kellogg                       By:  /s/ Kenneth W. Hale
   ----------------------------                    ----------------------------
Name: David w. Kellogg                          Name: Kenneth W. Hale
     --------------------------                      --------------------------
Title: Vice President/Sr. Lender                Title: CFO
      ---------------------------                     -------------------------

                                       5
<PAGE>

[FLEET CAPITAL CORPORATION LOGO APPEARS HERE]

                                                  LEASE SCHEDULE NO. 35076-00001
                                                                     -----------

50 Kennedy Plaza
Providence, Rhode Island  02903-2305
                                            LESSEE:  NAVISITE, INC.
                                            ADDRESS: 400 MINUTEMAN DRIVE

                                                     ANDOVER, MA 01810

     1.  This Lease Schedule No. 35076 - 00001 dated as of MAY 26, 2000 is
                                 -------------             ------------
entered into pursuant to and incorporates by this reference, all of the terms
and provisions of that certain Master Equipment Lease Agreement No. 35076 dated
                                                                    -----
as of MAY 26, 2000 (the "MASTER LEASE"), for the lease of the Equipment
      ------------
described in Schedule A attached hereto.  This Lease Schedule shall constitute a
separate, distinct and independent lease of the Equipment and the contractual
obligation of Lessee.  References to the "THE LEASE" or "THIS LEASE" shall mean
and refer to this Lease Schedule, together with the Master Lease and all
exhibits, addenda, schedules, certificates, riders and other documents and
instruments executed and delivered in connection with this Lease Schedule, all
as the same may be amended or modified from time to time.  All capitalized terms
used herein and not defined herein shall have the meanings set forth or referred
to in the Master Lease. By its execution and delivery of this Lease Schedule,
Lessee hereby reaffirms all of the representations, warranties and covenants
contained in the Master Lease, as of the date hereof, and further represents and
warrants to Lessor that no Event of Default, and no event or condition which
with notice or the passage of time or both would constitute an Event of Default,
has occurred and is continuing as of the date hereof.

     2.  ACQUISITION COST.  The Acquisition Cost of the Equipment is:
$18,600,000.00.
--------------

     3.  (a) LEASE TERM.  The Lease Term shall commence on the date hereof and
shall continue for a period of 48 months after the Lease Term Commencement Date
                               --
set forth in the Acceptance Certificate to this Lease Schedule, plus any renewal
or extended term applicable in accordance with the terms of the Lease.

       (b) RENTAL PAYMENTS.  In addition to interim rent payable pursuant to
Section 2 of the Master Lease, Lessee shall pay Lessor 48 consecutive Rental
                                                       --
Payments in the amounts set forth in the schedule below, plus any applicable
sales/use taxes, commencing on the Rental Payment Commencement Date set forth in
the Acceptance Certificate and MONTHLY thereafter for the remaining Lease Term.
                               -------
Each Rental Payment shall be payable on the same day of the month as the Rental
Payment Date in each succeeding rental period during the remaining Lease Term
(each, a "RENTAL PAYMENT DATE"):

                                                AMOUNT OF EACH
            Number of Rental Payments           RENTAL PAYMENT
            -------------------------           --------------

                       48                         $464,226.05

       (c) ADVANCE RENTAL PAYMENT.  Lessee agrees to pay Lessor the first  0 and
last  0 Rental Payments, due and payable on the Acceptance Date.

       (d) SECURITY DEPOSIT.  Lessee agrees to make a payment in an amount equal
to 0% of the Acquisition Cost of the Equipment, due and payable on the
Acceptance Date, to be held by Lessor as a non-interest bearing deposit to
secure Lessee's performance under the Lease.

     4.  EQUIPMENT LOCATION(S).  The Equipment will be located at the
location(s) specified in Schedule A-1 hereto.

                                      6
<PAGE>

     5.  Lessor will invoice Lessee for all sales, use and/or personal property
taxes as and when due and payable in accordance with applicable law, unless
Lessee delivers to Lessor a valid exemption certificate with respect to such
taxes.  Delivery of such certificate shall constitute Lessee's representation
and warranty that no such taxes shall become due and payable with respect to the
Equipment, and Lessee shall indemnify and hold harmless Lessor from and against
any and all liability or damages, including late charges and interest which
Lessor may incur by reason of the assessment of such taxes.

     6.  The Rental Payments may change for Equipment accepted after  JUNE 12,
                                                                     ----------
2000.
-----

     7.  Section 12(f) of the Master Lease, the hazardous material covenant, is
hereby waived with respect to the use of diesel fuel by the data center
generators described in the Schedule A.

     8.  For purposes of Section 19 of the Master Lease ("Related Lease
Schedules"), the Equipment covered under this Lease is not related to the
Equipment covered under Lease Schedule No. 35076-00002.

Dated as of: MAY 26, 2000
             ------------

FLEET CAPITAL CORPORATION                       NAVISITE, INC.

By:  /s/ David W. Kellogg                       By:  /s/ Kenneth W. Hale
   ----------------------------                    ----------------------------
Name: David w. Kellogg                          Name: Kenneth W. Hale
     --------------------------                      --------------------------
Title: Vice President/Sr. Lender                Title: CFO
      ---------------------------                     -------------------------

                                       7
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#              Description                                           Serial#/Vin#
--------   -----    -----              -----------                                           ------------
<S>       <C>      <C>                <C>                                                   <C>
                                      LOC# (01)
                                      VENDOR: CDW COMPUTER CENTERS, INC.

   1                                  IBM TP 390E6/333 6.4GB 64MB 2

                                      VENDOR: PROJECT SCHEDULERS

   1                                  SureTrack system                                       73134176

                                      VENDOR: NECR

   1                                  Laptop bag & niccard

                                      VENDOR: BOISE CASCADE OFFICE PRODUCTS

 1 ct                                 Chair, folding 5/ct bge ALTSRC=U22 1 ct
   1                                  Table, fold DLX 36x96 wal req prod #E4FTD3696WA
                                      ALTSRC=U22 1 ea
   1                                  Table, crt folding wal/st req prod #E4FTD3696WA
                                      ALTSRC=U22 1 ea

                                      VENDOR: NEXTEL

   1     I1000 plus                   Cell phone with:
   1                                  Charger: wall/travel
   1     900MAH LI                    Battery: std
   1     I1000                        Case: plastic holder

                                      VENDOR: PRO TOOL & SUPPLY

   2                                  Item# WP60113; WAP sq 10 gal RDF vacuum
   2                                  Item# WP100377; WAP Hepa filter kit

                                      VENDOR: GE APPLIANCES

   1                                  ZDI15C BB ref-compact
   1                                  GSD5920D BB undctr D/W
   4                                  TCX22PAC BB refrigerator
   6                                  JE1640GB Micro Wave O
</TABLE>

                                       8
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#              Description                                           Serial#/Vin#
--------   -----    -----              -----------                                           ------------
<S>       <C>      <C>                <C>                                                   <C>

                                      VENDOR: WHITNEY VEIGAS

  19                                  LSI Life Safety ID signs

                                      VENDOR: WINBROOK ASSOCIATES, INC.

  54                                  Network cabinets
  54                                  Standard rack 7x9
  29                                  Single vertical cable management
  54                                  Wire relay racks
  34                                  Sun 450 29" customer cabinet
  190                                 One-door customer cabinet
  21                                  Two-door customer cabinet
  12                                  Three-door customer cabinet
  13                                  Sun 450 server cabinet 29x36x84
   6                                  E-450 rackmount kits
  12                                  Power strips

                                      VENDOR: RESOURCES FOR OFFICE INTERIORS

  27                                  Workstations
  308                                 AIS steelcase Avenir stations
  68                                  Offices; constructed
                                      Fabric: Newport
                                      Trim: Black
                                      Laminate: Chromatix

                                      ELECTICAL ITEMS, AS MORE FULLY DESCRIBED BELOW:

                                      VENDOR: SOUTHWORTH-MILTON POWER SYSTEMS

   4     3516BDI TA                   Outdoor Caterpillar Low Emissions Diesel Packaged
                                      Generator Sets. Each unit rated 2000KW, continuous
                                      standby power, 277/480 volt, 60 hertz, 1800 rpm, 3
                                      phase, 0.8 pf. Included is the following for each
                                      unit:
                                      3500 Gallon Fuel Tank Base Double Walled with Leak
                                      Detection
                                      Structural Steel Base
                                      Starting Batteries with Rack and Cables
                                      Battery Charger
                                      Charging Alternator

</TABLE>

                                       9
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#              Description                                           Serial#/Vin#
--------   -----    -----              -----------                                           ------------
<S>       <C>      <C>                <C>                                                   <C>

                                      Engine/Generator Unit Mounted Control Panel
                                      NFPA 99-Pre-Alarm Module
                                      Engine Gauge Panel
                                      3000 Amp Free Standing Circuit Breakers, 100%
                                      rated Mounted and Wired with Enclosure
                                      Jacket Water Heater, Two (2) at 6000 Watts each
                                      United Mounted Radiator, Stack Core Type, with
                                      Fuel Oil Coolers
                                      Permanent Magnet Generator
                                      Automatic Start/Stop Package
                                      Unit Mounted Control Panel, Caterpillar EMCPII+
                                      Critical Grade Silencer mounted and insulated
                                      within the Enclosure
                                      Stainless Steel Flexible Connector
                                      Flexible Fuel Connectors
                                      Vibration Isolators, Seismic Spring Type
                                      Lubricating Oil
                                      Ethylene Glycol
                                      Electronic Isochronous Governor with Load Share
                                      Module
                                      Remote Breakglass Shutdown Switch

   4                                  LEA Dynatech System 3 TVSS units
   1                                  4 Engine, NEMA 1 enclosed, wall mounted remote
                                      annunciator panel
                                      PDU distribution A & B panels

                                      VENDOR: RUSSELECTRIC INC.

                                      UTILITY PARALLELING/ GENERATOR CONTROL SYSTEM
                                      CONSISTING OF THE FOLLOWING:

   1                                  Generator Control Cubicle; including, but not
                                      limited to, (1) Programmable Logic Controller,
                                      General Electric Series 90-30
   4                                  Generator Control Cubicle
   1                                  Master Control Cubicle
   4                                  Utility Transfer Control Cubicle
   1                                  Mimic Display Cubicle

</TABLE>

                                       10
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#              Description                                           Serial#/Vin#
--------   -----    -----              -----------                                           ------------
<S>       <C>      <C>                <C>                                                   <C>

   1                                  Generator Circuit Breaker Switchgear consisting of
                                      the following:
   4                                  Generator Breaker Cubicle
   6                                  Distribution Circuit Breaker Cubicle
   1                                  Distribution Circuit Breaker Cubicle

   1                                  UPS Input Circuit Breaker Switchgear consisting of
                                      the following:
   2                                  Utility Main Breaker Cubicle
   2                                  Generator Main Breaker Cubicle
   1                                  Tie Circuit Breaker Cubicle
   4                                  Distribution Breaker Cubicle
   2                                  Distribution Circuit Breaker Cubicle

   1                                  Mechanical/House Circuit Breaker Switchgear
                                      consisting of the following:
   2                                  Utility Main Breaker Cubicle
   2                                  Generator Main Breaker Cubicle
   1                                  Tie Circuit Breaker Cubicle
   6                                  Distribution Breaker Cubicle
   1                                  Distribution Circuit Breaker Cubicle

   1                                  Russelectric SCADA Terminal consisting of the
                                      following:
   1                                  Master Display Unit; including, but not limited
                                      to, (1) Desktop Personal Computer with 450 MHz
                                      Pentium II Xeon Processor with 512K Cache, 256 MB
                                      SDRAM, 9GB, Harddrive, 3.5" diskette drive, 13X
                                      min / 32X max CD-ROM, Telepath modem w/x2
                                      technology, 3COM PCI 10/100 twisted pair Ethernet
                                      w/wol, 104+ keyboard and MS IntelliMouse, Gateway
                                      Model E-5250, (1) 21" color monitor by Vivitron
                                      model VX1100 (19.7" viewable), and (1) Hewlett
                                      Parkard 6Pse printer.

                                      VENDOR: LOAD TECHNOLOGY, INC.

   1                                  Model: OSL6-2000.1-480V33-0600-(6) 100 Resistive
                                      Load Bank, rating: 2000 KW, consisting of the
                                      following:
                                      An outdoor load enclosure containing the load
                                      resistors, power controls and cooling fan.
                                      An outdoor control enclosure containing the pilot
                                      control devices for remote mounting.

</TABLE>

                                       11
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#              Description                                           Serial#/Vin#
--------   -----    -----              -----------                                           ------------
<S>       <C>      <C>                <C>                                                   <C>

                                      VENDOR: PRITCHARD BROWN

   4                                  Sound Attenuated Enclosure; including, but not
                                      limited to the following:
                                      3500 Gallon Capacity Fuel Tank
                                      3850 Gallon Rupure Basin
                                      4-Point Base Lift Plates
                                      U.L. Listed Fuel Tank

                                      VENDOR: EXIDE

   5                                  750KVA Multi-Module Parallel UPS System with:
                                      Input Voltage of: 480 VAC, 3 Phase, 3-Wire, 60 Hz
                                      Output Voltage of: 480 VAC, 3 Phase, 3-Wire, 60 Hz
   5                                  System Battery
   5                                  2500AF/2000AT Battery Breaker with Aux. Contacts
                                      and Shunt Trip
   5                                  Manually Operated 2000 amp Fused Battery
                                      Disconnect Switch
   1                                  UPS Output Switchboard with System Bypass Control
                                      by General Electric Rated at 100KAIC
   1                                  Remote Monitor Panel

                                      HVAC, PLUMBING & FIRE PROTECTION
                                      ITEMS AS MORE FULLY DESCRIBED BELOW:

                                      VENDOR: ADVANCED SAFETY SYSTEMS, INC.

         FM-200                       Fire Detection/Suppression System with Fenwal's
                                      Smart-One Analog Intelligent Multizone System
                                      Technology for 3 zones.

                                      VENDOR: DELTA MECHANICAL OF NEW ENGLAND, INC.

                                      HVAC System; including, but not limited to, the
                                      following:
                                      Controls
</TABLE>

                                       12
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#              Description                                           Serial#/Vin#
--------   -----    -----              -----------                                           ------------
<S>       <C>      <C>                <C>                                                   <C>

                                      Chillers
                                      RTUs/AIIU
                                      Cooling Towers
                                      Pumps & Accessories
                                      RGDs
                                      Fans
                                      Electric Heat & Cabs
                                      Supply & Return Piping
                                      Liebert Units
                                      Fan Powered & VAV Boxes
                                      Fire Dampers/Access Damper
                                      Trailers
                                      Smoke Dampers

                                      AUDIO/VISUAL EQUIPMENT ITEMS AS MORE FULLY
                                      DESCRIBED BELOW:

                                      VENDOR: HB COMMUNICATIONS

   1     VPL-X1000                    Sony LCD Video Projector
   1     VPLCFM30                     Sony Short Focus Lens
   4     LMP-600                      Sony Lamps
   1     WRK-24SA-27                  MidAtlantic Equipment Rack
   1     MW-VT                        MidAtlantic Vented Top
   1     PD-1415C                     MidAtlantic Power Strip
   1     MD-KB                        MidAtlantic Keyboard Tray
  10     U317                         MidAtlantic Vented Shelves
   1     AS3-22                       MidAtlantic Video Rackshelf (computer monitor)
   1     AV-16B                       Cybex AutoView 16 input KVM Switcher
   9     CUFU-6                       Cybex CPC/VGA Cables
   2     RMK-33                       Cybex Rackmounts
   1     A-906                        TOA Mixer/Power Amplifier
   1     MB-25B                       TOA Rack Mount
   4     U21S                         TOA Input Module
   5     C803-AT47                    Soundolier 8" Coaxial Loudspeaker
   5     95-8-10                      Soundolier 8" Loudspeaker enclosures
   5     61-8W                        Soundolier Grille
</TABLE>

                                       13
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#              Description                                           Serial#/Vin#
--------   -----    -----              -----------                                           ------------
<S>       <C>      <C>                <C>                                                   <C>

   5     81-8                         Soundolier T Bar Support
  22     RGB 202x                     Extron Computer Interface
  22     MBC/VGA                      MBC Input Cable
   1     AV                           Creston Audiovisual Control System
   1     SAS-BS3                      Sony DSS Receiver & Dish
   1     IN1024                       Inline Video Scan Doubler
   1                                  Inline Rack Mount
   1     3200                         Extron RGBHV Matrix Switcher
   9     VPL-X1000U                   Sony LCD Video Projector
   9     VPLL-FM30                    Sony Short Focus Lens
   9                                  Trooper Rear Projection Screen
   9                                  Trooper RPM System (Video Projection Support)
   1     WRK-44SA                     MidAtlantic Equipment Rack
   1     RWL-1                        Soundolier Rack Work Light
   1     SB                           MidAtlantic Blank Panels
   1     VTF                          MidAtlantic Vented Panels
   1                                  Wiremold Power Strips
                                      Cable & Connectors

                                      SECURITY ITEMS AS MORE FULLY DESCRIBED BELOW:

                                      VENDOR: ADT SECURITY SERVICES, INC.

                                      Central Security & Access Control Systems;
                                      including, but not limited to, the following:
                                      Recessed Magnetic Door Switch
                                      Surface Mounted Door Switch
                                      Relay Alarm Interface
                                      Motion Detector (Passive Infrared)
                                      Magnetic Lock with Power Supply for Access
                                      Controlled Door
                                      Interior Intercom Station with speaker and Signal
                                      Button
                                      Weatherproof Intercom Station with speaker and
                                      Signal Button
                                      Inside Close Circuit Television Camera with all
                                      Accessories such as mounting brackets, bubble
</TABLE>

                                       14
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#              Description                                           Serial#/Vin#
--------   -----    -----              -----------                                           ------------
<S>       <C>      <C>                <C>                                                   <C>

                                      ceiling housing and lens
                                      Inside Close Circuit Television Camera with Pan
                                      Tilt and Zoom with all Accessories such as
                                      mounting brackets, bubble ceiling housing and lens
                                      Outside Close Circuit Television Camera with Pan
                                      Tilt and Zoom with Weatherproof Housing and
                                      Equipment (Speed Dome)
                                      Fixed Outside Close Circuit Television Camera with
                                      Weatherproof Housing and Equipment
                                      Assistance Button/Panic Alarm
                                      Glass Break Detector
                                      Proximity Reader Controlled Door with: Entrance
                                      Card Reader, Electric Door Strike, Exit Device
                                      (PIR), and Magnetic Switch
                                      Proximity Card Reader Controlled Door with:
                                      Entrance Card Reader, Exit Card Reader, Electric
                                      Door Strike, and Magnetic Switch
                                      Exterior Mounting for Card Reader
                                      Multiplex Panel, Base Panel with Power Supply with
                                      Battery Backup
                                      Report Printer
                                      Laser Printer
                                      Work Station
                                      Card Printing Supplies
                                      Portable Video ID Input Camera with Interface
                                      Cables
                                      Digital Recorder for 32 CCTV Cameras
                                      16 Camera Multiplexer
                                      Proximity Card Reader
                                      Visitor Printer Option (Printer and Software)

</TABLE>

WITH ALL STANDARD AND ACCESSORY EQUIPMENT

FLEET CAPITAL CORPORATION                    NAVISITE, INC.

By: David W. Kellogg                         By: Kenneth W. Hale
    -------------------------------              -------------------------------

Name: David W. Kellogg                       Name: Kenneth W. Hale
      -----------------------------                -----------------------------

Title: Vice President/Sr. Lender             Title: CFO
       ----------------------------                 ----------------------------

                                       15
<PAGE>
[FLEET CAPITAL CORPORATION LOGO APPEARS HERE]

                                                SCHEDULE A-1 EQUIPMENT LOCATION

Attached hereto and made part of the
following documents:                         Lease Schedule No. 35076-00001
                                             and Acceptance Certificate

With:  NAVISTE, INC.
<TABLE>
<CAPTION>
LOCATION#   EQUIPMENT LOCATION
------------------------------------------------------------------------------
<S>         <C>
     01     400 Minuteman Drive, Andover, MA 01810

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

FLEET CAPITAL CORPORATION               NAVISITE, INC.

By: /s/ David W. Kellogg                By: /s/ Kenneth W. Hale
    -----------------------------           ---------------------------
Name:   David W. Kellogg                Name:   Kenneth W. Hale
      ---------------------------             -------------------------
Title:  Vice President/Sr. Lender       Title:  CFO
      ---------------------------             -------------------------

                                       16
<PAGE>

                                                                      AMENDMENT
                                                            FINANCIAL COVENANTS
                                                         ______________________

This Amendment ("Amendment") is attached to and made a part of that certain
Lease Schedule No. 35076-00001 ("Schedule") to Master Equipment Lease Agreement
No. 35076 dated as of May 26, 2000 (the "MASTER LEASE") by and between FLEET
CAPITAL CORPORATION ("FCC") and NAVISITE, INC., a Delaware corporation
("LESSEE"). All capitalized terms used herein which are not defined herein shall
have the meanings set forth in the Master Lease.

For purposes of the Schedule, the Master Lease is hereby amended by adding the
following Section 5A after Section 5 thereof:

     "5A.  ADDITIONAL FINANCIAL COVENANTS.  Throughout the term of the Master
     Lease, Lessee shall comply with each of the following financial covenants:

          Affirmative Covenants:
          ---------------------

          1. Cash.  Lessee shall at all times maintain a balance of available
     cash and Cash Equivalents equal to not less than (a) $15,000,000.00 or (b)
     at all times after Lessee shall have raised an aggregate amount of not less
     than $300,000,000.00 of net proceeds from the issuance of any one or more
     of any form of convertible debt securities, high-yield debt financing
     instruments, or capital stock or other equity securities, $30,000,000.00.

          2. Market Capitalization. Lessee's common stock shall remain listed on
     the Nasdaq Stock Market or other nationally recognized United States stock
     exchange acceptable to Lessor and shall maintain thereon a market
     capitalization of not less than $1,000,000,000.00.

          Negative Covenants:
          ------------------

     1.   Indebtedness.  Lessee shall not, and shall not permit any of its
     Subsidiaries to, create, incur, assume, guarantee, or be or remain liable
     with respect to any Indebtedness other than the following: (a) Indebtedness
     to the Lessor; (b) Indebtedness existing as of the date of this Amendment
     and disclosed on Lessee's Form 10-Q for the period ended January 31, 2000
     and filed with the Securities and Exchange Commission ("SEC") on March 16,
     2000; (c) Indebtedness arising from the issuance by Lessee of convertible
     debt securities and of high-yield debt financing instruments; (d)  senior
     unsecured Indebtedness of the Lessee not exceeding in the aggregate
     outstanding principal amount at any time $15,000,000.00.

     2.   Sale and Leaseback.  Lessee shall not, and shall not permit any of its
     Subsidiaries to, enter into any arrangement, directly or indirectly,
     whereby it shall sell or transfer any property owned by it in order to
     lease such property or lease other property that the Lessee or such
     Subsidiary intends to use for substantially the same purpose as the
     property being sold or transferred, other than in the ordinary course of
     its business consistent with past practice.

     3.   Liens.  Lessee shall not, and shall not permit any of its Subsidiaries
     to, create, incur, assume or suffer to exist any mortgage, pledge, security
     interest, lien or other charge or encumbrance, including the lien or
     retained security title of a conditional vendor upon or with respect to any
     of its property or assets ("Liens"), or assign or otherwise convey any
     right to receive income, including the sale or discount of accounts
     receivable with or without recourse but excluding revenue sharing
     arrangements Lessee enters into with software vendors and service providers
     in the ordinary course of business consistent with past practice, except
     the following ("Permitted Liens"): (a) Liens in favor of the Lessor; (b)
     Liens existing as of the date of this Amendment and disclosed on Lessee's
     Form 10-Q for the period ended January 31, 2000 and filed with the SEC on
     March 16, 2000; (c) liens for taxes, fees, assessments and other
     governmental charges to the extent that payment of the same may be
     postponed; (d) landlords' and lessors' liens in respect of rent not in
     default or liens in respect of pledges or deposits under workmen's
     compensation, unemployment insurance, social security laws, or similar
     legislation (other than ERISA) or in connection with appeal and similar
     bonds

                                      17
<PAGE>

     incidental to litigation; mechanics', laborers' and materialmen's and
     similar liens, if the obligations secured by such liens are not then
     delinquent; liens securing the performance of bids, tenders, contracts
     (other than for the payment of money); and statutory obligations incidental
     to the conduct of its business consistent with past practice and that do
     not in the aggregate materially detract from the value of its property or
     materially impair the use thereof in the operation of its business; (e)
     rights of lessors under capitalized leases; (f) easements, rights of way,
     restrictions and other similar charges or Liens relating to real property
     and not interfering in a material way with the ordinary conduct of its
     business; (g) Liens on assets acquired after the date hereof as permitted
     by the terms of this Amendment (including liens on assets of Subsidiaries
     so acquired) if the indebtedness or obligation secured by such Lien is
     permitted by the terms of this Amendment and such Lien was created in
     contemplation of the acquisition of such asset or Subsidiary by the Lessee;
     and (h) Liens on its assets created in connection with the refinancing of
     Indebtedness secured by Permitted Liens on such assets, provided that the
     amount of Indebtedness secured by any such Lien shall not be increased as a
     result of such refinancing and no such Lien shall extend to property and
     assets of the Lessee or any such Subsidiary not encumbered prior to any
     such refinancing.

     4.   Merger; Consolidation.  Lessee shall not, and shall not permit any of
     its Subsidiaries to, sell, lease or otherwise dispose of assets (valued at
     the greater of cost or market), other than sales of inventory in the
     ordinary course of business consistent with past practice; or liquidate,
     merge or consolidate into or with any other person or entity or effect any
     stock or asset acquisition (other than in the ordinary course of business
     consistent with past practice), provided that any Subsidiary of the Lessee
     or of CMGI, Inc. ("CMGI") may merge or consolidate into or with (i) the
     Lessee if no Event of Default has occurred and is continuing or would
     result from such merger and if the Lessee is the surviving company, or (ii)
     any other wholly-owned Subsidiary of the Lessee.

     5.   Equity Distributions. Lessee shall not, and shall not permit any of
     its Subsidiaries to, pay any dividends on any class of its capital stock or
     make any other distribution or payment on account of or in redemption,
     retirement or purchase of such capital stock, except for (i) the issuance,
     delivery or distribution by the Lessee of shares of its common stock pro
     rata to its existing shareholders, (ii) the purchase or redemption by the
     Lessee of its capital stock with the proceeds of the issuance of additional
     shares of capital stock, and (iii) the issuance and repurchase of capital
     stock to employees under an employee stock purchase or similar program.

     6.   Investments. Neither the Lessee nor any of its Subsidiaries shall make
     or maintain any Investments other than existing Investments in Subsidiaries
     and new Investments in such Subsidiaries in the ordinary course of its
     business consistent with past practice, provided such new Subsidiaries are
     in the same line of business as Lessee or (with Lessor's prior written
     consent which shall not be unreasonably withheld) complementary lines of
     business.

     7.   Transactions with Affiliates. Lessee will not, and will not permit any
     of its Subsidiaries to, engage in any transaction with any Affiliate (other
     than for services as, or in connection with the employment of, employees,
     officers and directors), including any contract, agreement or other
     arrangement providing for the furnishing of services to or by, providing
     for rental of real or personal property to or from, or otherwise requiring
     payments to or from any such Affiliate or, to the knowledge of the Lessee,
     any corporation, partnership, trust or other entity in which any such
     Affiliate has a substantial interest or is an officer, director, trustee or
     partner, on terms more favorable to such Person than would have been
     obtainable on an arm's-length basis in the ordinary course of business.

     8.   Change of Control. Lessee shall not permit CMGI to maintain beneficial
     ownership (as defined in Rule 13d-3 under the Securities Exchange Act of
     1934, as amended, or any successor provision thereto) of less than 51% of
     the capital stock of Lessee ordinarily entitled to vote for the election of
     directors.

          Compliance Certificates.  Lessee will furnish to Lessor, immediately
     prior to Lessor's funding of the acquisition of the Equipment, and
     thereafter within 10 days of the end of each month during the Lease Term or
     any Renewal Term, a Compliance Certificate, substantially in the form of
     EXHIBIT A hereto, certified by

                                      18
<PAGE>

     Lessee's chief financial officer, as to Lessee's compliance with the
     financial covenants contained herein.

     DEFINITIONS.  For purposes of this section 5A, the following terms shall
     have the meanings set forth below. All other financial terms contained
     herein that are not specifically defined herein shall have meanings and
     values determined in accordance with United States generally accepted
     accounting principles, as defined by controlling pronouncements of the
     Financial Accounting Standards Board, as from time to time supplemented and
     amended, and consistently applied ("GAAP")

     "AFFILIATE" includes any corporation, partnership, association, joint
     venture, company, trust, individual or entity, which now or hereafter at
     any time controls, is controlled by, or is under common control with a
     Person, including without limitation, each person or entity who or which
     is, at any time, a shareholder, director or officer of such Person.

     "Cash Equivalents" shall mean time deposits, certificates of deposit,
     overnight bank deposits [and U.S. government securities and commercial
     paper of an issuer rated at least A-1 by Standard & Poor's Ratings Group or
     P-1 by Moody's Investors Services, Inc., in each case which have a maturity
     of less than three months.

     "ERISA" shall mean the Employee Retirement Income Security Act of 1974, and
     the rules and regulations thereunder, collectively, as amended and in
     effect from time to time.

     "INDEBTEDNESS" shall mean the total of all obligations, whether current or
     long-term, which in accordance with GAAP would be included as liabilities,
     contingent or otherwise, upon a balance sheet as at the date as of which
     Indebtedness is to be determined (but excluding trade payables incurred in
     the ordinary course of business and not overdue), and shall also include,
     without limitation, obligations for money borrowed, obligations evidenced
     by bonds, debentures, notes or similar instruments, reimbursement
     obligations with respect to letters of credit or bankers' acceptances,
     obligations issued or assumed as the deferred purchase price of property or
     services, obligations under capitalized leases and synthetic leases,
     guaranties, endorsements (other than for collection in the ordinary course
     of business) or other arrangements whereby responsibility is assumed for
     the obligations of others, whether by agreement to purchase or otherwise
     acquire the obligations of others, including any agreement, contingent or
     otherwise, to furnish funds through the purchase of goods, supplies or
     services for the purpose of payment of the obligations of others.

     "Investment" shall mean the purchase or acquisition of any share of capital
     stock, partnership interest, evidence of indebtedness or other equity
     security of any other person or entity, any loan, advance or extension of
     credit to, or contribution to the capital of, any other person or entity,
     any real estate held for sale or investment, any commodities futures
     contracts held other than in connection with bona fide hedging
     transactions, any other investment in any other person or entity, and the
     making of any commitment or acquisition of any option to make an
     Investment.

     "PERSON" shall mean an individual, a corporation, a limited liability
     company, a partnership, a limited liability partnership, a joint venture or
     adventure, a trust or estate or unincorporated organization, a joint stock
     company or other similar organization, a governmental or political
     subdivision, or any other legal entity, and shall include the Lessee and
     all Affiliates of Lessee.

                                      19
<PAGE>

Except as specifically set forth herein, all of the terms and conditions of the
Master Lease remain in full force and effect and are hereby ratified and
affirmed.  To the extent that the provisions of the Amendment conflict with any
provisions contained in the Master Lease, the provisions of this Amendment will
control.

Dated as of:  May 26, 2000

FLEET CAPITAL CORPORATION                 NAVISITE, INC.

By: /s/ David W. Kellogg                  By: /s/ Kenneth W. Hale
   ---------------------------------         --------------------------------
Name:   David W. Kellogg                  Name:   Kenneth W. Hale
      ------------------------------            -----------------------------
Title:  Vice President/Sr. Lender         Title:  CFO
      ------------------------------            -----------------------------

                                      20
<PAGE>

                                   EXHIBIT A

                         [NAVISITE, INC.'S LETTERHEAD]

TO:  FLEET CAPITAL CORPORATION                 FLEET NATIONAL BANK
     50 Kennedy Plaza                          100 Federal Street
     Providence, Rhode Island  02903-2305      Boston, Massachusetts 02110
     ATTN:  Portfolio Management Department    ATTN:  Lynn R. Schade

                Re:  Financial Covenants under Master Equipment Lease Agreement
                No. 35076 dated as of May 26, 2000 (the "LEASE").

     The undersigned hereby certifies that he/she is the chief financial officer
of NaviSite, Inc. ("LESSEE") and that as of the end of the month of ________,
200_, Lessee [is/is not] in compliance with the affirmative financial covenants
set forth below:

<TABLE>
<CAPTION>
REQUIRED COVENANT                                  REQUIRED AMOUNT               ACTUAL AMOUNT                COMPLIANCE
-------------------------------------------  ----------------------------  --------------------------  ------------------------
                                                                                                                (Y/N)
------------------------------------------------------------------------------------------------------------------------------
<S>                                          <C>                           <C>                         <C>
Minimum Balance Sheet Cash                   $15,000,000 ($30,000,000
                                             after certain equity
                                             raising thresholds are met)
------------------------------------------------------------------------------------------------------------------------------
Minimum Market Capitalization                $1,000,000,000
------------------------------------------------------------------------------------------------------------------------------
</TABLE>

     The undersigned hereby also certifies that Lessee is in compliance with all
negative financial and other covenants set forth in the Lease.

Dated as of: _______________________________

                                    NAVISITE, INC.

                                        By: _________________________________

                                        Name: _______________________________

                                        Title:  Chief Financial Officer

                                      21
<PAGE>

[FLEET CAPITAL CORPORATION LOGO APPEARS HERE]

                                              PROPERTY TAX INDEMNIFICATION RIDER

50 Kennedy Plaza
Providence, Rhode Island 02903-2305

     This Property Tax Indemnification Rider (this "RIDER") is attached to and
made a part of that certain Lease Schedule No. 35076-00001, dated as of MAY 26,
2000 (the "LEASE SCHEDULE"), by and between the undersigned parties.

     Notwithstanding any provision to the contrary in the Lease, Lessee shall
file directly with all appropriate taxing authorities all declarations, returns,
inventories and other documentation with respect to any personal property taxes
due or to become due with respect to the Equipment ("TAXES") and shall pay on or
before the date when due all such Taxes assessed, billed or otherwise payable
with respect to such Equipment directly to such taxing authorities. Upon request
by Lessor, Lessee shall provide Lessor with copies of satisfactory documentation
and proof of payment of such Taxes. Lessee shall indemnify and hold harmless
Lessor from and against any such Taxes, and any penalties and interest thereon,
and any other liabilities and damages that Lessor may incur arising out of the
failure of Lessee to pay when due such Taxes. The indemnity and covenants set
forth herein shall continue in full force and effect and shall survive the
expiration or earlier termination of the Lease.

     All capitalized terms used herein and not defined herein shall have the
meanings set forth or referred to in the Lease Schedule.  Except as specifically
set forth herein, all of the terms and conditions of the Lease shall remain in
full force and effect and are hereby ratified and affirmed.  To the extent that
the provisions of this Rider conflict with any provisions contained in the
Lease, the provisions of this Rider shall control.

Dated as of: MAY 26, 2000
             ------------

FLEET CAPITAL CORPORATION               NAVISITE, INC.

By: /s/ David W. Kellogg                By: /s/ Kenneth W. Hale
    -----------------------------           ---------------------------
Name:   David W. Kellogg                Name:   Kenneth W. Hale
      ---------------------------             -------------------------
Title:  Vice President/Sr. Lender       Title:  CFO
      ---------------------------             -------------------------

                                       22
<PAGE>

[FLEET CAPITAL CORPORATION LOGO APPEARS HERE]

                                                       PURCHASE OBLIGATION RIDER

50 Kennedy Plaza
Providence, Rhode Island 02903-2305

     This Purchase Obligation Rider (this "RIDER") is attached to and made a
part of that certain Lease Schedule No. 35076-00001, dated as of MAY 26, 2000
(the "LEASE SCHEDULE"), by and between the undersigned parties.

     Upon the expiration of the Lease Term, Lessor shall sell to Lessee and
Lessee shall purchase from Lessor all, but not less than all, of the Equipment
for an amount, payable in immediately available funds on the last day of the
Lease Term, equal to: (a) all Rental Payments, late charges and other amounts
due and owing under the Lease; plus (b) all taxes, assessments and other charges
due or payable in connection with the sale of the Equipment to Lessee; plus (c)
10.00000% of the Acquisition Cost of the Equipment.

     Upon receipt by Lessor of all amounts payable hereunder, Lessor shall
convey all of its right, title and interest in and to the Equipment to Lessee on
an "AS-IS," "WHERE-IS" BASIS, WITHOUT REPRESENTATION OR WARRANTY, EXPRESS OR
IMPLIED, and without recourse to Lessor, except that the Equipment shall be free
and clear of all liens created by Lessor.

     All capitalized terms used herein and not defined herein shall have the
meanings set forth or referred to in the Lease Schedule.  Except as specifically
set forth herein, all of the terms and conditions of the Lease shall remain in
full force and effect and are hereby ratified and affirmed.  To the extent that
the provisions of this Rider conflict with any provisions contained in the
Lease, the provisions of this Rider shall control.

Dated as of:  MAY 26, 2000
              ------------

FLEET CAPITAL CORPORATION               NAVISITE, INC.

By: /s/ David W. Kellogg                By: /s/ Kenneth W. Hale
    -----------------------------           ---------------------------
Name:   David W. Kellogg                Name:   Kenneth W. Hale
      ---------------------------             -------------------------
Title:  Vice President/Sr. Lender       Title:  CFO
      ---------------------------             -------------------------

                                       23
<PAGE>

[FLEET CAPITAL CORPORATION LOGO APPEARS HERE]

                                                          ACCEPTANCE CERTIFICATE
50 Kennedy Plaza
Providence, Rhode Island  02903-2305

  This Acceptance Certificate (this "ACCEPTANCE CERTIFICATE") is attached to and
made a part of that certain Lease Schedule No. 35076 - 00001, dated as of
                                               -------------
MAY 26, 2000 (the "LEASE SCHEDULE"), by and between the undersigned parties. All
------------
capitalized terms used herein and not defined herein shall have the meanings set
forth or referred to in the Lease Schedule. To the extent the terms set forth in
this Acceptance Certificate differ or conflict with any of the terms set forth
in the Lease, the terms set forth in this Acceptance Certificate shall control.

  1. Lessee acknowledges and agrees that each item of Equipment set forth on
Schedule A hereto (collectively, the "EQUIPMENT") is hereby unconditionally
accepted by Lessee for all purposes under the Lease at the locations specified
in Schedule A-1 hereto, and hereby agrees to faithfully perform all of its
obligations under the Lease as of the date hereof (the "ACCEPTANCE DATE").
Lessee hereby authorizes and directs Lessor to make payment to each vendor of
the Equipment pursuant to such vendor's invoice or any purchase order, purchase
agreement or supply contract with such vendor, receipt and approval of which are
hereby reaffirmed by Lessee.

  2. By its execution and delivery of this Acceptance Certificate, Lessee hereby
reaffirms all of the representations, warranties and covenants contained in the
Lease as of the date hereof, and further represents and warrants to Lessor that
no Event of Default, and no event or condition which with notice or the passage
of time or both would constitute an Event of Default, has occurred and is
continuing as of the date hereof.  Lessee further certifies to Lessor that
Lessee has selected the Equipment and has received and approved the purchase
order, purchase agreement or supply contract under which the Equipment will be
acquired for all purposes of the Lease.

  3. Lessee hereby represents and warrants that:  (a) the Equipment has been
delivered and is in an operating condition and performing the operation for
which it is intended to the satisfaction of the Lessee; and (b) if requested by
Lessor, the Equipment has been marked or labeled evidencing the Lessor's
interest therein.

  4. The LEASE TERM COMMENCEMENT DATE is the 10th day of June, 2000.

  5. The RENTAL PAYMENT COMMENCEMENT DATE is the 10th day of July, 2000.

  6. All terms and provisions of the Lease Schedule shall remain in full force
and effect, except as otherwise provided below:

     - ACQUISITION COST: $ N/A.

     - LEASE TERM: N/A months.

     - RENTAL PAYMENTS:  NUMBER OF RENTAL PAYMENTS  RENTAL PAYMENT AMOUNT
                         -------------------------  ---------------------
                                    N/A

     - ADVANCE RENTAL PAYMENT(S):  First N/A and last N/A.

     - SECURITY DEPOSIT: N/A%.

Dated:  June 7, 2000

Agreed and Accepted:

FLEET CAPITAL CORPORATION                       NAVISITE, INC.

By:  /s/ David W. Kellogg                       By:  /s/ Kenneth W. Hale
   ----------------------------                    ----------------------------
Name: David W. Kellogg                          Name: Kenneth W. Hale
     --------------------------                      --------------------------
Title: Vice President/Sr. Lender                Title: CFO
      ---------------------------                     -------------------------

                                      24
<PAGE>

[FLEET CAPITAL CORPORATION LOGO APPEARS HERE]

                                                  LEASE SCHEDULE NO. 35076-00002
                                                                     -----------

50 Kennedy Plaza
Providence, Rhode Island  02903-2305
                                        LESSEE:  NAVISITE, INC.
                                        ADDRESS: 400 MINUTEMAN DRIVE

                                                 ANDOVER, MA 01810

     1.   This Lease Schedule No. 35076 - 00002 dated as of MAY 26, 2000 is
entered into pursuant to and incorporates by this reference, all of the terms
and provisions of that certain Master Equipment Lease Agreement No. 35076 dated
as of MAY 26, 2000 (the "MASTER LEASE"), for the lease of the Equipment
described in Schedule A attached hereto.  This Lease Schedule shall constitute a
separate, distinct and independent lease of the Equipment and the contractual
obligation of Lessee.  References to the "THE LEASE" or "THIS LEASE" shall mean
and refer to this Lease Schedule, together with the Master Lease and all
exhibits, addenda, schedules, certificates, riders and other documents and
instruments executed and delivered in connection with this Lease Schedule, all
as the same may be amended or modified from time to time.  All capitalized terms
used herein and not defined herein shall have the meanings set forth or referred
to in the Master Lease. By its execution and delivery of this Lease Schedule,
Lessee hereby reaffirms all of the representations, warranties and covenants
contained in the Master Lease, as of the date hereof, and further represents and
warrants to Lessor that no Event of Default, and no event or condition which
with notice or the passage of time or both would constitute an Event of Default,
has occurred and is continuing as of the date hereof.

     2.   ACQUISITION COST.  The Acquisition Cost of the Equipment is:
$11,400,000.00.

     3.   (a) LEASE TERM.  The Lease Term shall commence on the date hereof and
shall continue for a period of  48 months after the Lease Term Commencement Date
set forth in the Acceptance Certificate to this Lease Schedule, plus any renewal
or extended term applicable in accordance with the terms of the Lease.

          (b) RENTAL PAYMENTS.  In addition to interim rent payable pursuant to
Section 2 of the Master Lease, Lessee shall pay Lessor   48 consecutive Rental
Payments in the amounts set forth in the schedule below, plus any applicable
sales/use taxes, commencing on the Rental Payment Commencement Date set forth in
the Acceptance Certificate and MONTHLY thereafter for the remaining Lease Term.
Each Rental Payment shall be payable on the same day of the month as the Rental
Payment Date in each succeeding rental period during the remaining Lease Term
(each, a "RENTAL PAYMENT DATE"):

                                                AMOUNT OF EACH
            Number of Rental Payments           RENTAL PAYMENT
            -------------------------           --------------

                     48                         $284,525.64

          (c) ADVANCE RENTAL PAYMENT. Lessee agrees to pay Lessor the first 0
and last 0 Rental Payments, due and payable on the Acceptance Date.

          (d) SECURITY DEPOSIT.  Lessee agrees to make a payment in an amount
equal to 0% of the Acquisition Cost of the Equipment, due and payable on the
Acceptance Date, to be held by Lessor as a non-interest bearing deposit to
secure Lessee's performance under the Lease.

     4.   EQUIPMENT LOCATION(S).  The Equipment will be located at the
location(s) specified in Schedule A-1 hereto.

                                       25
<PAGE>

     5.   Lessor will invoice Lessee for all sales, use and/or personal property
taxes as and when due and payable in accordance with applicable law, unless
Lessee delivers to Lessor a valid exemption certificate with respect to such
taxes.  Delivery of such certificate shall constitute Lessee's representation
and warranty that no such taxes shall become due and payable with respect to the
Equipment, and Lessee shall indemnify and hold harmless Lessor from and against
any and all liability or damages, including late charges and interest which
Lessor may incur by reason of the assessment of such taxes.

     6.   The Rental Payments may change for Equipment accepted after  JUNE 12,
2000.

     7.   Section 12(f) of the Master Lease, the hazardous material covenant, is
hereby waived with respect to the use of diesel fuel by the data center
generators described in the Schedule A.

     8.   For purposes of Section 19 of the Master Lease ("Related Lease
Schedules"), the Equipment covered under this Lease is not related to the
Equipment covered under Lease Schedule No. 35076-00001.

Dated as of: MAY 26, 2000

FLEET CAPITAL CORPORATION               NAVISITE, INC.

By: /s/ David W. Kellogg                By: /s/ Kenneth W. Hale
    -----------------------------           ---------------------------
Name:   David W. Kellogg                Name:   Kenneth W. Hale
      ---------------------------             -------------------------
Title:  Vice President/Sr. Lender       Title:  CFO
      ---------------------------             -------------------------

                                       26
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00002
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#             Description                                           Serial#/Vin
--------   -----    -----             -----------                                           -----------
<S>       <C>      <C>                <C>                                                   <C>
                                      LOC# (01)

                                      ELECTRICAL ITEMS AS MORE FULLY DESCRIBED BELOW:

                                      VENDOR: PETERSON POWER (CAT)

   3                                  3512 diesel engine generator systems; each
                                      including, but not limited to, the following:
                                      60hz 480 volts
                                      60 hertz
                                      Standby power application
                                      3512 1250 EKW 60 hz pgs-stby
                                      Electronic modular control PNL
                                      English display units
                                      CSA test and certification
                                      Neutral grounding connection
                                      Alarm module - NFPA 110
                                      Panel lights/auxiliary relay
                                      Coolant loss sensing
                                      Cust communications module-CCM
                                      2301A load sharing governor
                                      Generator conversion (PM Excitation)
                                      Space heater relay
                                      Radiator 46/CV
                                      Fan pulley 0.428 ratio
                                      Coolant level sensor
                                      Fuel priming pump, RH mounted
                                      Flexible fuel lines
                                      Fuel cooler
                                      Fumes disposal
                                      Jacket water heater - dual
                                      Oil pan drain valve
                                      24 volt battery set - dry
                                      Battery charger 10 AMP
                                      Charging Alternator 24V 35 AMP
                                      Circuit Breaker, 2000A, 100%
                                      Fuel/Water separator
                                      Double Battery Box, Group 4D
                                      Seismic Calculations
                                      Vibration Isolator
</TABLE>

                                       27
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#              Description                                           Serial#/Vin
--------   -----    -----              -----------                                           -----------
<S>       <C>      <C>                <C>                                                   <C>
                                      Critical Silencer, 14 inch
                                      Dimensions 9'W x 19' L

                                      VENDOR: RUSSELECTRIC INC.

   1                                  Generator Paralleling and Distribution Switchgear;
                                      including, but not limited to, the following:
   1                                  Master/Generator Control Cubicle CC
   5                                  Circuit Breaker Cubicle

                                      VENDOR: IEM

   1                                  Metal Clad Switchgear "PSG" - NEMA3R non walk-in 3
                                      phase 3 wire 21KV 1200 AMP BUS 125KV BIL CONS
   1                                  Switchgear "MHSB" - NEMA1 3 phase 3 wire 480V 2500
                                      AMP, Class III, CU bussing 100KA1C/braced for 100KA
   1                                  Switchgear "USB" - NEMA1 3 phase 4 wire 277/480V
                                      2500 AMP Class III, CU bussing 100KA1C/braced for
                                      100KA
   2                                  Balteau pad mounted transformers, 3000KVA, 3
                                      phase, mineral oil filed, designed for outdoor
                                      service. OA/FFA, 55/65 deg. C Rise, 30 deg.
                                      Average ambient, 60Hz, with AI windings, 7.0%
                                      impedance w/primary loop feed, dead front, no
                                      lightening arrestors, 21KV primary - 125KV BIL to
                                      277/480V secondary
   1                                  SWBD "Load Bank Breaker", NEMA1 enclosed, 480V 3
                                      phase 3 wire w/grd. Class III, 3000A, CU Bussing,
                                      100KA1C
   2                                  SWBD "UPSDPA", "UPSDPB", 2500A Bussing, 480V 3
                                      phase 3 wire w/grd. Class I, 100KA1C
   4                                  Dist. Panel "MDP11, MDP12, MDP21, MDP22", 600A CU
                                      Bussing, 480V 3 phase 3 wire w/grd. 65KA1C, wall
                                      mount
   1                                  SWBD "HD72" 800A Cu Bussing, 480V 3 phase 3 wire
                                      w/grd. 100KA1C, Class I
   1                                  SWBD "MBPSB", 2500A CU Bussing, 480V 3 phase 3
                                      wire w/grd. 65KA1C, Class I
</TABLE>

                                       28
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity   Model    Unit#              Description                                           Serial#/Vin
--------   -----    -----              -----------                                           -----------
<S>       <C>      <C>                <C>                                                   <C>
                                      VENDOR: POWERWARE

   3     625                          Powerware Plus 750; each including, but not
                                      limited to, the following:
                                      (1) UPS OUT
                                      (2) UPS System Cabinet
                                      (2) Battery Strings

                                      HVAC & FIRE PROTECTION SYSTEM ITEMS AS MORE FULLY
                                      DESCRIBED BELOW:

                                      VENDOR: N/A

   1                                  HVAC system

                                      VENDOR: VARIOUS

   1                FM200             Fire Detection/Suppression System with Fenwal's
                                      Smart One Analog Intelligent Multizone System
                                      Technology

                                      MECHANICAL & PLUMBING ITEMS AS MORE FULLY
                                      DESCRIBED BELOW:

                                      VENDOR: LIEBERT

  23                                  Computer Room A/C Units; each including, but not
                                      limited to, the following:
                                      Quiet Line Condenser Units (CDF415L)
                                      AHU (FH245A-ASOO)
                                      60% Filters
                                      Semi Hermetic Compressor
                                      4-step unloading
                                      Quiet Line Condenser Fan
                                      Dual Supply Fan
                                      Oversized Motor (7.5HP)
                                      Top Single Point of Connection
                                      Outdoor Unit Disconnect
</TABLE>

                                       29
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity  Model    Unit#              Description                                           Serial#/Vin
--------  -----    -----              -----------                                           -----------
<S>       <C>      <C>                <C>                                                   <C>
                                      Indoor Unit Disconnect
                                      Controls for Johnson front end interface, Modbus
                                      Hi Efficiency Motors
                                      Extended Condenser Legs 36"
                                      Leak detection kits, cable type

                                      NOC AV EQUIPMENT ITEMS AS MORE FULLY DESCRIBED
                                      BELOW:

                                      VENDOR: CEITRONICS

   1     A906MK2                      TOA 8 input, 60W mixer-amp
   1     MB25B                        TOA Rack Mount Kit
   4     B01S                         TOA Bridging Line Input Module
   5     409-4T                       Altec 8" Coax Speaker/Transformer
   5     LB-8-CP                      Lowell Tile Support Bridge
   5     XCP-810                      Lowell Ceiling Backbox
   5     WB-8                         Lowell Speaker Grille
  22     RGB202xi                     Extron Computer Interface
  22     U1                           MidAtlantic Mounting Shelf
  22     MCB                          Exide Interface Breakout Cable
   1     Axcent3PRO                   AMX Integrated Control Chassis
   1     AXB-VOL3                     AMX Volume Control Box
   4     AXC-232                      AMX Serial/RS232 Card
   1     AXT-CV10                     AMX Tilt Screen Control Panel
   1     SAS-BS3                      Sony DSS Receiver & Dish
   1     1N1024                       Inline Video to RGBHS Scan Converter
   1     4YDM                         Autopatch 200MHz RGBHV with stereo audio matrix
                                      switcher (32x16)
   9     VPL-X100U                    Sony LCD Video Projector
   9     VPLL-FM30                    Sony Short Focus Lens
   1                                  Trooper 1x5, 60", 1.2 gain screen, wedge frame
   2                                  Trooper 1x2, 60", 1.2 gain screen, wedge frame
   9     RPM                          Trooper Rear Screen Mounting /Mirror
   1     502-77B                      Soundolier Equipment Rack
</TABLE>

                                       30
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00001
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity  Model    Unit#              Description                                           Serial#/Vin
--------  -----    -----              -----------                                           -----------
<S>       <C>      <C>                <C>                                                   <C>
   2      542-77B                      Soundolier Side Panels
   2      RWL-1                        Soundolier Work Light
  A/R     SB series                    MidAtlantic Blank Panel
  A/R     VTF series                   MidAtlantic Vent Panel
  A/R                                  King BNC Connectors
  A/R     25292                        West Penn Plenum Line Cable
  A/R     25225                        West Penn Plenum Speaker Cable
  A/R     5C P/N                       Liberty Plenum RGBHV Cable

                                       MISCELLANEOUS ITEMS ARE MORE FULLY DESCRIBED BELOW:

                                       Vendor: ADT Security Services, Inc.

   1                                   Integrated Access Control System;
                                       including, but not limited to, the
                                       following:
   2                                   Pro-Watch-NT client workstation w/printer
   1                                   Pro-Watch-NT report printer
   1                                   Visitor badge printer with badging kit
   1                                   Digital camera with access control cards
   1                                   Pro-Watch-NT Communications converter
   4                                   LAN serial T interface with reader/controllers
   8                                   Pro-Watch-NT four reader control panel
   8                                   Power transformer for PW-2000 control panel with
                                       power supplies
   8                                   UL listed 12 VDC or 24 VDC, 4 AMP power supply
                                       with card readers
   7                                   HID proximity reader
   7                                   Supression kit for PW-2000 relays with: door
                                       contacts, rex motions, and local sounder
  20                                   Recessed door contact
  20                                   Request-to-exit motion detector - beige
   3                                   RX-7 remote sounder
   7                                   Armored door contact with CCTV exterior
   3                                   Color integrated camera w/PTZ and presets
   3                                   Exterior camera dome housing with heater & blower
   1                                   Exterior camera housing mounting bracket
   1                                   Exterior camera housing
   3                                   Corner mount adapter

</TABLE>

                                       31
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00002
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity  Model    Unit#              Description                                           Serial#/Vin
--------  -----    -----              -----------                                           -----------
<S>       <C>      <C>                <C>                                                   <C>
                                      VENDOR: N/A

                                      NOC Console

                                      VENDOR: N/A

   1                                  Projection Screen

                                      VENDOR: UNION PLANNING MILL

   1                                  Security Counter
   1                                  Reception Counter
                                      Personal Lockers

                                      VENDOR: WINBROOK ASSOCIATES, INC.

  15                                  Three door server cabinets
  100                                 One door server cabinets

                                      VENDOR: RESOURCES FOR OFFICE INTERIORS

   1                                  #76303 Rainbow chair w/arms in C.O.M. fabric
                                      #2461-60 sky w/black frame
   8                                  Dauphin Cosmos#CM5261 chair w/black/chrome fabric
                                      #2461-60 sky
   2                                  Patrician Fitzgerald table 39-1/4" diameter Tag:
                                      recp.
   2                                  Patrician end table Faulkner series
  14                                  Nevins 36" round laminate table w/vinyl edge and
                                      Atlantis Martini base/#4661-60 laminate
  44                                  Thonet #5005P chair w/black frame and finish in
                                      C.O.M. Vivaldi #AC63834 midnight #6
  46                                  #4001 swivel tilt chair in C.O.M. fabric AD Navy
                                      w/black frame and shell
   1                                  Patrician Faulkner table 27" x  37"
  23                                  BRCR 53-1/2" x 27" x 29" H training table in a
                                      #4661-60 laminate w/black edge and base
  60                                  Thornet #5002P chair w/out arms in a C.O.M. fabric
                                      midnight #6/black finish
   4                                  Nevins 48" round laminate table #4661-60/black
                                      w/vinyl edge and Atlantis Martini base finishes
  20                                  Thornet Reva #1700 chair stackable finish (7)
                                      black, (7) blue and (6) green

</TABLE>

                                       32
<PAGE>

                                                            SCHEDULE A EQUIPMENT

Attached hereto and made part                 Lease Schedule No. 35076-00002
of the following documents:                   Acceptance Certificate
                                              and UCC Financing Statement(s)
With: NAVISITE, INC.

<TABLE>
<CAPTION>
Quantity  Model    Unit#              Description                                           Serial#/Vin
--------  -----    -----              -----------                                           -----------
<S>       <C>      <C>                <C>                                                   <C>
   2                                  Patrician #1726F Fitzgerald 27-1/4"
   2                                  Rainbow task chairs in Authentic Cafe/black
  46                                  #4008 sled base chairs in a #90 navy fabric Tag:
                                      guest seating
                                      (131) AIS Steelcase Avenir stations and (23)
                                      offices
                                      Fabric: Newport
                                      Trim: Black
                                      Laminate: Chromatix
</TABLE>

WITH ALL STANDARD AND ACCESSORY EQUIPMENT

FLEET CAPITAL CORPORATION                    NAVISITE, INC.

By: David W. Kellogg                         By: Kenneth W. Hale
    --------------------------------             -------------------------------

Name: David W. Kellog                        Name: Kenneth W.Hale
      ------------------------------               -----------------------------

Title: Vice President/Sr. Lender             Title: CFO
       -----------------------------                ----------------------------

                                       33
<PAGE>

[FLEET CAPITAL CORPORATION LOGO APPEARS HERE]

                                                SCHEDULE A-1 EQUIPMENT LOCATION

Attached hereto and made part of the
following documents:                         Lease Schedule No. 35076-00002
                                             and Acceptance Certificate

With:  NAVISITE, INC.
<TABLE>
<CAPTION>
Location #  Equipment Location
------------------------------------------------------------------------------
<S>        <C>
    01      2720 Zanker Road in the Valley Technology Centre, Bldg 2,
            San Jose, CA 95134

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

FLEET CAPITAL CORPORATION               NAVISITE, INC.

By: /s/ David W. Kellogg                By: /s/ Kenneth W. Hale
    -----------------------------           ---------------------------
Name:   David W. Kellogg                Name:   Kenneth W. Hale
      ---------------------------             -------------------------
Title:  Vice President/Sr. Lender       Title:  CFO
      ---------------------------             -------------------------

                                       34
<PAGE>

                                                                       AMENDMENT
                                                             FINANCIAL COVENANTS
                                                             -------------------

This Amendment ("Amendment") is attached to and made a part of that certain
Lease Schedule No. 35076-00002 ("Schedule") to Master Equipment Lease Agreement
No. 35076 dated as of May 26, 2000 (the "MASTER LEASE") by and between FLEET
CAPITAL CORPORATION ("FCC") and NAVISITE, INC., a Delaware corporation
("LESSEE"). All capitalized terms used herein which are not defined herein shall
have the meanings set forth in the Master Lease.

For purposes of the Schedule, the Master Lease is hereby amended by adding the
following Section 5A after Section 5 thereof:

     "5A.  ADDITIONAL FINANCIAL COVENANTS.  Throughout the term of the Master
     Lease, Lessee shall comply with each of the following financial covenants:

         Affirmative Covenants:
         ---------------------

         1. Cash.  Lessee shall at all times maintain a balance of available
     cash and Cash Equivalents equal to not less than (a) $15,000,000.00 or (b)
     at all times after Lessee shall have raised an aggregate amount of not less
     than $300,000,000.00 of net proceeds from the issuance of any one or more
     of any form of convertible debt securities, high-yield debt financing
     instruments, or capital stock or other equity securities, $30,000,000.00.

         2. Market Capitalization.  Lessee's common stock shall remain listed on
     the Nasdaq Stock Market or other nationally recognized United States stock
     exchange acceptable to Lessor and shall maintain thereon a market
     capitalization of not less than $1,000,000,000.00.

         Negative Covenants:
         ------------------

     1.  Indebtedness.  Lessee shall not, and shall not permit any of its
     Subsidiaries to, create, incur, assume, guarantee, or be or remain liable
     with respect to any Indebtedness other than the following: (a) Indebtedness
     to the Lessor; (b) Indebtedness existing as of the date of this Amendment
     and disclosed on Lessee's Form 10-Q for the period ended January 31, 2000
     and filed with the Securities and Exchange Commission ("SEC") on March 16,
     2000; (c) Indebtedness arising from the issuance by Lessee of convertible
     debt securities and of high-yield debt financing instruments; (d)  senior
     unsecured Indebtedness of the Lessee not exceeding in the aggregate
     outstanding principal amount at any time $15,000,000.00.

     2.  Sale and Leaseback.  Lessee shall not, and shall not permit any of its
     Subsidiaries to, enter into any arrangement, directly or indirectly,
     whereby it shall sell or transfer any property owned by it in order to
     lease such property or lease other property that the Lessee or such
     Subsidiary intends to use for substantially the same purpose as the
     property being sold or transferred, other than in the ordinary course of
     its business consistent with past practice.

     3.  Liens.  Lessee shall not, and shall not permit any of its Subsidiaries
     to, create, incur, assume or suffer to exist any mortgage, pledge, security
     interest, lien or other charge or encumbrance, including the lien or
     retained security title of a conditional vendor upon or with respect to any
     of its property or assets ("Liens"), or assign or otherwise convey any
     right to receive income, including the sale or discount of accounts
     receivable with or without recourse but excluding revenue sharing
     arrangements Lessee enters into with software vendors and service providers
     in the ordinary course of business consistent with past practice, except
     the following ("Permitted Liens"): (a) Liens in favor of the Lessor; (b)
     Liens existing as of the date of this Amendment and disclosed on Lessee's
     Form 10-Q for the period ended January 31, 2000 and filed with the SEC on
     March 16, 2000; (c) liens for taxes, fees, assessments and other
     governmental charges to the extent that payment of the same may be
     postponed; (d) landlords' and lessors' liens in respect of rent not in
     default or liens in respect of pledges or deposits under workmen's
     compensation, unemployment insurance, social security laws, or similar
     legislation (other than ERISA) or in connection with appeal and similar
     bonds

                                       35
<PAGE>

     incidental to litigation; mechanics', laborers' and materialmen's and
     similar liens, if the obligations secured by such liens are not then
     delinquent; liens securing the performance of bids, tenders, contracts
     (other than for the payment of money); and statutory obligations incidental
     to the conduct of its business consistent with past practice and that do
     not in the aggregate materially detract from the value of its property or
     materially impair the use thereof in the operation of its business; (e)
     rights of lessors under capitalized leases; (f) easements, rights of way,
     restrictions and other similar charges or Liens relating to real property
     and not interfering in a material way with the ordinary conduct of its
     business; (g) Liens on assets acquired after the date hereof as permitted
     by the terms of this Amendment (including liens on assets of Subsidiaries
     so acquired) if the indebtedness or obligation secured by such Lien is
     permitted by the terms of this Amendment and such Lien was created in
     contemplation of the acquisition of such asset or Subsidiary by the Lessee;
     and (h) Liens on its assets created in connection with the refinancing of
     Indebtedness secured by Permitted Liens on such assets, provided that the
     amount of Indebtedness secured by any such Lien shall not be increased as a
     result of such refinancing and no such Lien shall extend to property and
     assets of the Lessee or any such Subsidiary not encumbered prior to any
     such refinancing.

     4.  Merger; Consolidation.  Lessee shall not, and shall not permit any of
     its Subsidiaries to, sell, lease or otherwise dispose of assets (valued at
     the greater of cost or market), other than sales of inventory in the
     ordinary course of business consistent with past practice; or liquidate,
     merge or consolidate into or with any other person or entity or effect any
     stock or asset acquisition (other than in the ordinary course of business
     consistent with past practice), provided that any Subsidiary of the Lessee
     or of CMGI, Inc. ("CMGI") may merge or consolidate into or with (i) the
     Lessee if no Event of Default has occurred and is continuing or would
     result from such merger and if the Lessee is the surviving company, or (ii)
     any other wholly-owned Subsidiary of the Lessee.

     5.  Equity Distributions.  Lessee shall not, and shall not permit any of
     its Subsidiaries to, pay any dividends on any class of its capital stock or
     make any other distribution or payment on account of or in redemption,
     retirement or purchase of such capital stock, except for (i) the issuance,
     delivery or distribution by the Lessee of shares of its common stock pro
     rata to its existing shareholders, (ii) the purchase or redemption by the
     Lessee of its capital stock with the proceeds of the issuance of additional
     shares of capital stock, and (iii) the issuance and repurchase of capital
     stock to employees under an employee stock purchase or similar program.

     6.  Investments.  Neither the Lessee nor any of its Subsidiaries shall make
     or maintain any Investments other than existing Investments in Subsidiaries
     and new Investments in such Subsidiaries in the ordinary course of its
     business consistent with past practice, provided such new Subsidiaries are
     in the same line of business as Lessee or (with Lessor's prior written
     consent which shall not be unreasonably withheld) complementary lines of
     business.

     7.  Transactions with Affiliates.  Lessee will not, and will not permit any
     of its Subsidiaries to, engage in any transaction with any Affiliate (other
     than for services as, or in connection with the employment of, employees,
     officers and directors), including any contract, agreement or other
     arrangement providing for the furnishing of services to or by, providing
     for rental of real or personal property to or from, or otherwise requiring
     payments to or from any such Affiliate or, to the knowledge of the Lessee,
     any corporation, partnership, trust or other entity in which any such
     Affiliate has a substantial interest or is an officer, director, trustee or
     partner, on terms more favorable to such Person than would have been
     obtainable on an arm's-length basis in the ordinary course of business.

     8.  Change of Control.  Lessee shall not permit CMGI to maintain beneficial
     ownership (as defined in Rule 13d-3 under the Securities Exchange Act of
     1934, as amended, or any successor provision thereto) of less than 51% of
     the capital stock of Lessee ordinarily entitled to vote for the election of
     directors.

         Compliance Certificates.  Lessee will furnish to Lessor, immediately
     prior to Lessor's funding of the acquisition of the Equipment, and
     thereafter within 10 days of the end of each month during the Lease Term or
     any Renewal Term, a Compliance Certificate, substantially in the form of
     EXHIBIT A hereto, certified by

                                       36
<PAGE>

     Lessee's chief financial officer, as to Lessee's compliance with the
     financial covenants contained herein.

     DEFINITIONS.  For purposes of this section 5A, the following terms shall
     have the meanings set forth below. All other financial terms contained
     herein that are not specifically defined herein shall have meanings and
     values determined in accordance with United States generally accepted
     accounting principles, as defined by controlling pronouncements of the
     Financial Accounting Standards Board, as from time to time supplemented and
     amended, and consistently applied ("GAAP")

     "AFFILIATE" includes any corporation, partnership, association, joint
     venture, company, trust, individual or entity, which now or hereafter at
     any time controls, is controlled by, or is under common control with a
     Person, including without limitation, each person or entity who or which
     is, at any time, a shareholder, director or officer of such Person.

     "Cash Equivalents" shall mean time deposits, certificates of deposit,
     overnight bank deposits [and U.S. government securities and commercial
     paper of an issuer rated at least A-1 by Standard & Poor's Ratings Group or
     P-1 by Moody's Investors Services, Inc., in each case which have a maturity
     of less than three months.

     "ERISA" shall mean the Employee Retirement Income Security Act of 1974, and
     the rules and regulations thereunder, collectively, as amended and in
     effect from time to time.

     "INDEBTEDNESS" shall mean the total of all obligations, whether current or
     long-term, which in accordance with GAAP would be included as liabilities,
     contingent or otherwise, upon a balance sheet as at the date as of which
     Indebtedness is to be determined (but excluding trade payables incurred in
     the ordinary course of business and not overdue), and shall also include,
     without limitation, obligations for money borrowed, obligations evidenced
     by bonds, debentures, notes or similar instruments, reimbursement
     obligations with respect to letters of credit or bankers' acceptances,
     obligations issued or assumed as the deferred purchase price of property or
     services, obligations under capitalized leases and synthetic leases,
     guaranties, endorsements (other than for collection in the ordinary course
     of business) or other arrangements whereby responsibility is assumed for
     the obligations of others, whether by agreement to purchase or otherwise
     acquire the obligations of others, including any agreement, contingent or
     otherwise, to furnish funds through the purchase of goods, supplies or
     services for the purpose of payment of the obligations of others.

     "Investment" shall mean the purchase or acquisition of any share of capital
     stock, partnership interest, evidence of indebtedness or other equity
     security of any other person or entity, any loan, advance or extension of
     credit to, or contribution to the capital of, any other person or entity,
     any real estate held for sale or investment, any commodities futures
     contracts held other than in connection with bona fide hedging
     transactions, any other investment in any other person or entity, and the
     making of any commitment or acquisition of any option to make an
     Investment.

     "PERSON" shall mean an individual, a corporation, a limited liability
     company, a partnership, a limited liability partnership, a joint venture or
     adventure, a trust or estate or unincorporated organization, a joint stock
     company or other similar organization, a governmental or political
     subdivision, or any other legal entity, and shall include the Lessee and
     all Affiliates of Lessee.

                                       37
<PAGE>

Except as specifically set forth herein, all of the terms and conditions of the
Master Lease remain in full force and effect and are hereby ratified and
affirmed.  To the extent that the provisions of the Amendment conflict with any
provisions contained in the Master Lease, the provisions of this Amendment will
control.

Dated as of:  May 26, 2000

FLEET CAPITAL CORPORATION                       NAVISITE, INC.

By: David W. Kellogg                            By: Kenneth W. Hale
    -------------------------------                 ----------------------------
Name: David W. Kellog                           Name: Kenneth W. Hale
      -----------------------------                   --------------------------
Title: Vice President/Sr. Lender                Title: CFO
       ----------------------------                    -------------------------

                                       38
<PAGE>

                                   EXHIBIT A

                         [NAVISITE, INC.'S LETTERHEAD]

TO:  FLEET CAPITAL CORPORATION                     FLEET NATIONAL BANK
     50 Kennedy Plaza                              100 Federal Street
     Providence, Rhode Island  02903-2305          Boston, Massachusetts 02110
     ATTN: Portfolio Management Department         ATTN:  Lynn R. Schade

                Re:  Financial Covenants under Master Equipment Lease Agreement
                No. 35076 dated as of May 26, 2000 (the "LEASE").

     The undersigned hereby certifies that he/she is the chief financial officer
of NaviSite, Inc. ("LESSEE") and that as of the end of the month of ________,
200_, Lessee [is/is not] in compliance with the affirmative financial covenants
set forth below:

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------
REQUIRED COVENANT                          REQUIRED AMOUNT               ACTUAL AMOUNT           COMPLIANCE
                                                                                                   (Y/N)
-----------------------------------------------------------------------------------------------------------
<S>                                    <C>                               <C>                     <C>
Minimum Balance Sheet Cash             $15,000,000 ($30,000,000
                                       after certain equity
                                       raising thresholds are met)
-----------------------------------------------------------------------------------------------------------
Minimum Market Capitalization          $1,000,000,000
-----------------------------------------------------------------------------------------------------------
</TABLE>

     The undersigned hereby also certifies that Lessee is in compliance with all
negative financial and other covenants set forth in the Lease.

Dated as of: _______________________________

                                    NAVISITE, INC.

                                        By: _________________________________

                                        Name: _______________________________

                                        Title: Chief Financial Officer

                                       39
<PAGE>

[FLEET CAPITAL CORPORATION LOGO APPEARS HERE]

                                              PROPERTY TAX INDEMNIFICATION RIDER

50 Kennedy Plaza
Providence, Rhode Island 02903-2305

     This Property Tax Indemnification Rider (this "RIDER") is attached to and
made a part of that certain Lease Schedule No. 35076-00002, dated as of MAY 26,
2000 (the "LEASE SCHEDULE"), by and between the undersigned parties.

     Notwithstanding any provision to the contrary in the Lease, Lessee shall
file directly with all appropriate taxing authorities all declarations, returns,
inventories and other documentation with respect to any personal property taxes
due or to become due with respect to the Equipment ("TAXES") and shall pay on or
before the date when due all such Taxes assessed, billed or otherwise payable
with respect to such Equipment directly to such taxing authorities. Upon request
by Lessor, Lessee shall provide Lessor with copies of satisfactory documentation
and proof of payment of such Taxes. Lessee shall indemnify and hold harmless
Lessor from and against any such Taxes, and any penalties and interest thereon,
and any other liabilities and damages that Lessor may incur arising out of the
failure of Lessee to pay when due such Taxes. The indemnity and covenants set
forth herein shall continue in full force and effect and shall survive the
expiration or earlier termination of the Lease.

     All capitalized terms used herein and not defined herein shall have the
meanings set forth or referred to in the Lease Schedule.  Except as specifically
set forth herein, all of the terms and conditions of the Lease shall remain in
full force and effect and are hereby ratified and affirmed.  To the extent that
the provisions of this Rider conflict with any provisions contained in the
Lease, the provisions of this Rider shall control.

Dated as of: MAY 26, 2000
             ------------

FLEET CAPITAL CORPORATION               NAVISITE, INC.

By: /s/ David W. Kellogg                By: /s/ Kenneth W. Hale
    -----------------------------           ---------------------------
Name:   David W. Kellogg                Name:   Kenneth W. Hale
      ---------------------------             -------------------------
Title:  Vice President/Sr. Lender       Title:  CFO
      ---------------------------             -------------------------

                                       40
<PAGE>

[FLEET CAPITAL CORPORATION LOGO APPEARS HERE]

                                                       PURCHASE OBLIGATION RIDER

50 Kennedy Plaza
Providence, Rhode Island 02903-2305

     This Purchase Obligation Rider (this "RIDER") is attached to and made a
part of that certain Lease Schedule No. 35076-00002, dated as of MAY 26, 2000
(the "LEASE SCHEDULE"), by and between the undersigned parties.

     Upon the expiration of the Lease Term, Lessor shall sell to Lessee and
Lessee shall purchase from Lessor all, but not less than all, of the Equipment
for an amount, payable in immediately available funds on the last day of the
Lease Term, equal to: (a) all Rental Payments, late charges and other amounts
due and owing under the Lease; plus (b) all taxes, assessments and other charges
due or payable in connection with the sale of the Equipment to Lessee; plus (c)
10.00000% of the Acquisition Cost of the Equipment.

     Upon receipt by Lessor of all amounts payable hereunder, Lessor shall
convey all of its right, title and interest in and to the Equipment to Lessee on
an "AS-IS," "WHERE-IS" BASIS, WITHOUT REPRESENTATION OR WARRANTY, EXPRESS OR
IMPLIED, and without recourse to Lessor, except that the Equipment shall be free
and clear of all liens created by Lessor.

     All capitalized terms used herein and not defined herein shall have the
meanings set forth or referred to in the Lease Schedule.  Except as specifically
set forth herein, all of the terms and conditions of the Lease shall remain in
full force and effect and are hereby ratified and affirmed.  To the extent that
the provisions of this Rider conflict with any provisions contained in the
Lease, the provisions of this Rider shall control.

Dated as of:  MAY 26, 2000
              ------------

FLEET CAPITAL CORPORATION               NAVISITE, INC.

By: /s/ David W. Kellogg                By: /s/ Kenneth W. Hale
    -----------------------------           ---------------------------
Name:   David W. Kellogg                Name:   Kenneth W. Hale
      ---------------------------             -------------------------
Title:  Vice President/Sr. Lender       Title:  CFO
      ---------------------------             -------------------------

                                       41
<PAGE>

[FLEET CAPITAL CORPORTION LOGO APPEARS HERE]

                                                          ACCEPTANCE CERTIFICATE
50 Kennedy Plaza
Providence, Rhode Island  02903-2305

  This Acceptance Certificate (this "ACCEPTANCE CERTIFICATE") is attached to and
made a part of that certain Lease Schedule No. 35076 - 00002, dated as of
                                               -------------
MAY 26, 2000 (the "LEASE SCHEDULE"), by and between the undersigned parties. All
------------
capitalized terms used herein and not defined herein shall have the meanings set
forth or referred to in the Lease Schedule.  To the extent the terms set forth
in this Acceptance Certificate differ or conflict with any of the terms set
forth in the Lease, the terms set forth in this Acceptance Certificate shall
control.

  1. Lessee acknowledges and agrees that each item of Equipment set forth on
Schedule A hereto (collectively, the "EQUIPMENT") is hereby unconditionally
accepted by Lessee for all purposes under the Lease at the locations specified
in Schedule A-1 hereto, and hereby agrees to faithfully perform all of its
obligations under the Lease as of the date hereof (the "ACCEPTANCE DATE").
Lessee hereby authorizes and directs Lessor to make payment to each vendor of
the Equipment pursuant to such vendor's invoice or any purchase order, purchase
agreement or supply contract with such vendor, receipt and approval of which are
hereby reaffirmed by Lessee.

  2. By its execution and delivery of this Acceptance Certificate, Lessee hereby
reaffirms all of the representations, warranties and covenants contained in the
Lease as of the date hereof, and further represents and warrants to Lessor that
no Event of Default, and no event or condition which with notice or the passage
of time or both would constitute an Event of Default, has occurred and is
continuing as of the date hereof.  Lessee further certifies to Lessor that
Lessee has selected the Equipment and has received and approved the purchase
order, purchase agreement or supply contract under which the Equipment will be
acquired for all purposes of the Lease.

  3. Lessee hereby represents and warrants that:  (a) the Equipment has been
delivered and is in an operating condition and performing the operation for
which it is intended to the satisfaction of the Lessee; and (b) if requested by
Lessor, the Equipment has been marked or labeled evidencing the Lessor's
interest therein.

  4. The LEASE TERM COMMENCEMENT DATE is the 10th day of June, 2000.

  5. The RENTAL PAYMENT COMMENCEMENT DATE is the 10th day of July, 2000.

  6. All terms and provisions of the Lease Schedule shall remain in full force
and effect, except as otherwise provided below:

     - ACQUISITION COST: $ N/A.

     - LEASE TERM: N/A months.

     - RENTAL PAYMENTS:  NUMBER OF RENTAL PAYMENTS  RENTAL PAYMENT AMOUNT
                         -------------------------  ---------------------
                                    N/A

     - ADVANCE RENTAL PAYMENT(S):  First N/A and last N/A.

     - SECURITY DEPOSIT: N/A%.

Dated:  June 7, 2000

Agreed and Accepted:

FLEET CAPITAL CORPORATION                       NAVISITE, INC.

By:  /s/ David W. Kellogg                       By:  /s/ Kenneth W. Hale
   ----------------------------                    ----------------------------
Name: David w. Kellogg                          Name: Kenneth W. Hale
     --------------------------                      --------------------------
Title: Vice President/Sr. Lender                Title: CFO
      ---------------------------                     -------------------------

                                      42
<PAGE>

[Fleet Capital Letterhead]

June 5, 2000                        via facsimile 978/946-8638

Mr. Christopher R. Guiod
Director of Leasing
NAVISITE, INC.
400 Minuteman Road
Andover, MA 01810

RE:  Treatment of sales tax due upfront on the data centers and leasehold
improvements to be financed under Lease Schedules 35076-00001 and 35076-00002 to
Master Equipment Lease Agreement No. 35076 dated May 26, 2000 (the "Schedules").

Dear Ms. Root:

This is written to confirm the understanding of Fleet Capital Corporation
("FCC") and NAVISITE, INC. ("NAVISITE") regarding the treatment of sales taxes
due on the above mentioned Schedules. NAVISITE currently has provided FCC with
proof that they have paid some of the sales taxes due on the Schedules, and
agree that they will provide the balance necessary within 90 days after the
funding of the Schedules. After the 90 days, FCC will bill NAVISITE for the
difference between the amount of sales taxes calculated as due and what proof
NAVISITE has been able to provide.

THE SALES TAXES HAVE BEEN CALCULATED AS FOLLOWS:

ANDOVER, MA  $372,583.60 (5% OF THE $7,451,672.00 EQUIPMENT COST)
FCC has received proof that $340,452.21 has been paid.

SAN JOSE, CA  $378,366.95 (8.25% OF THE $4,586,266.00 EQUIPMENT COST)
FCC has received proof that $36,667.00 has been paid.

Please indicate your agreement with the foregoing by signing and returning
the original copy of this agreement to Lisa A. Evora at the address noted
below.

                                                  Very Truly Yours,

                                                  BY: /s/ David W. Kellogg
                                                      -------------------------
                                                  NAME:  David W. Kellogg
                                                  TITLE:  Vice President

Acknowledged and Agreed:

NAVISITE, INC.

BY: /s/ Kenneth W. Hale
   -------------------------------

NAME:  Kenneth W. Hale
      ----------------------------

TITLE: CFO
      ----------------------------

DATE:  6/7/00
      ----------------------------

                                       43
<PAGE>

                           Fleet Capital Corporation
                               50 Kennedy Plaza
                          Providence, RI  02903-2305

                                 June 7, 2000

NaviSite, Inc.
400 Minuteman Road
Andover, MA  01810

     Re:  Waiver under Master Equipment Lease Agreement
          ---------------------------------------------

Ladies and Gentlemen:

     Reference is made to the Master Equipment Lease Agreement dated as of May
26, 2000 between Fleet Capital Corporation, as lessor ("Lessor") and NaviSite,
Inc., as lessee ("Lessee"), as amended by Amendment dated as of May 26, 2000
between Lessor and Lessee (as so amended, the "Master Lease"), together with all
lease schedules executed thereunder (collectively, the "Lease").  Capitalized
terms used herein without definition shall have the meanings assigned to such
terms in the Master Lease.

     The Lessee (a) has informed the Lessor that as of the date hereof the
Lessee will not be in compliance with the additional financial covenant set
forth in Section 5A of the Master Lease under the heading "Affirmative Covenants
- 1. Cash" (requiring the Lessee to maintain a balance of available cash and
Cash Equivalents of at least $15,000,000) (the "Cash Covenant") and (b) has
requested that the Lessor waive compliance with the Cash Covenant until the
Lessee completes a planned sale of $50 million of common stock to CMGI, Inc.
substantially in accordance with the draft term sheet attached hereto as Exhibit
A in order to raise the additional cash needed to achieve compliance.

     The Lessor hereby waives compliance with the Cash Covenant until June 14,
2000 in order to permit the Lessee more time to raise the additional cash from
such sale of common stock to CMGI, Inc. needed to comply with the Cash Covenant.
From and after June 15, 2000, the Lessee's failure to be in compliance with the
Cash Covenant for any reason (including failure to complete the planned sale of
common stock by such date) shall result in an Event of Default under the Master
Lease in accordance with Section 8 thereof.

                                       44
<PAGE>

     Except for those provisions of the Master Lease expressly waived hereby,
the Master Lease, all Lease Schedules executed thereunder and all documents,
instruments and agreements related thereto are hereby ratified and confirmed in
all respects and shall continue in full force and effect.  Nothing contained
herein shall in any way prejudice, impair or effect any rights or remedies of
the Lessor under the Master Lease and all Lease Schedules executed thereunder.
The Lessor's willingness to provide this waiver shall not constitute an
agreement or imply a willingness by the Lessor to provide any similar or other
waivers of any of the terms of the Master Lease in the future.

     THIS LETTER AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS (WITHOUT REFERENCE TO CONFLICTS OF
LAW).  This letter agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be original, but all of which
counterparts taken together shall be deemed to constitute one instrument.

     Please indicate your acceptance of the terms of this letter agreement by
signing and returning this letter.

                         Very truly yours,

                         FLEET CAPITAL CORPORATION

                         By: /s/ David W. Kellogg
                             ------------------------------------
                         Name:   David W. Kellogg
                               ----------------------------------
                         Title:  Vice President/Sr. Lender
                               ----------------------------------

AGREED AND ACCEPTED BY:

NAVISITE, INC.

By: /s/ Kenneth W. Hale
     ------------------------------------
Name:   Kenneth W. Hale
       ----------------------------------
Title:  CFO
       ----------------------------------

                                       45
<PAGE>

                       SUBORDINATION OF LANDLORD'S LIEN

     WHEREAS, CarrAmerica Realty Corporation ("Landlord") is the owner of
certain real property located at 2720 Zanker Road, San Jose, California (the
"Property"); and

     WHEREAS, Landlord and NaviSite, Inc. ("Tenant") have entered into a Lease
Agreement covering certain space at the Property (the "Leased Premises"); and

     WHEREAS, Tenant has placed, or may place on the Leased Premises, certain
personal property, goods, wares, equipment, fixtures, furniture, improvements or
other personal property owned by Tenant and identified on Exhibit A attached
hereto (collectively referred to as "Tenant's Personal Property"); and

     WHEREAS, Tenant has borrowed or will borrow certain sums of money (the
"Loan") from Fleet Capital Corporation ("Lender") and has given or may give as
security for the payment of such indebtedness a security interest or other lien
upon Tenant's Personal Property located on the Leased Premises; and

     WHEREAS, it is desire of Landlord and Tenant that any such security
interest or lien held by Lender shall be in all things first and prior to any
other lien or liens against Tenant's Personal Property held by Landlord.

     NOW THEREFORE, for and in consideration of good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, Landlord does
hereby agree that any and all presently existing or future liens that may exist
as a result of the lease or rental of the Leased Premises by Tenant from
Landlord, shall be and the same are hereby made subordinate, subject and
inferior to any security interest or liens now and hereafter held by Lender upon
any of the Tenant's Personal Property located on the Leased Premises, and
Landlord does hereby agree that in the event Lender lawfully becomes entitled to
possession of any of Tenant's Personal Property located on the Leased Premises,
Lender shall have the right to enter the Leased Premises in order to remove
Tenant's Personal Property, free of any liens or claims of Landlord. Landlord
has no obligation to give Lender any notice of default by Tenant, but shall use
commercially reasonable efforts to deliver written notice to Lender of the
approximate date on which Lender will have access to the Leased Premises to
remove Tenant's Personal Property (the "Availability Notice") at least ten (10)
days prior to the date set forth therein. The Availability Notice, which may be
updated from time to time by Landlord as more better information is available,
shall be delivered by Landlord to Lender via fax number 617-434-0112 to the
attention of the Legal--Leasing Division. This instrument will not be effective
unless Landlord receives from Lender an original counterpart of the Lender
Joinder attached hereto.

     Tenant hereby agrees that Landlord shall have no duty or obligation to
inquire into the accuracy or validity of any default by Tenant with respect to
the Loan, and Tenant hereby agrees that nothing cointained in this Subordination
of Landlord's Lien nor Landlord's acts or failures to act in connection with the
Lender's entry into, and possession of, the Leased Premises and the

                                      46
<PAGE>

Lender's removal of all or any portion of the Tenant's Personal Property shall
be deemed a default by Landlord under the Lease, and Tenant hereby waives all
claims of whatever nature or kind Tenant may have against Landlord in connection
with this Subordination of Landlord's Lien and/or Landlord's acts or failures to
act in connection with the Lender's entry into, and possession of, the Leased
Premises and/or the Lender's removal of all or any portion of the Tenant's
Personal Property.

     EXECUTED, this 7th day of June, 2000.

                                        "Landlord"
                                        CarrAmerica Realty Corporation

                                             by: its agent
                                             CarrAmerica Development, Inc.

                                             By: /s/ P. B. Wall Jr.
                                                -------------------------------
                                             Name:  P. B. Wall Jr.
                                             Title: Senior Vice President

                                        "Tenant"
                                        NaviSite, Inc.

                                             By: /s/ Kenneth W. Hale
                                                -------------------------------
                                             Name:  Kenneth W. Hale
                                             Title: CFO

                                      47
<PAGE>

                                LENDER JOINDER

     In consideration of the foregoing, Lender agrees that (a) Lender must, at
Lender's sole cost, repair any damage in or about the Leased Premises caused by
any entry or removal of Tenant's Personal Property by Lender or its agents; (b)
Lender must pay to Landlord all rent and other charges due under the Lease
during the period commencing on the date on which Lender has the right to access
the Leased Premises, as set forth in Landlord's Availability Notice to Lender
(the "Access Date") through the date of removal and repair; (c) Lender has no
right to change the locks or otherwise restrict Landlord's access to the Leased
Premises, without Landlord's prior written consent; (d) if Lender fails to
remove all of Tenant's Personal Property within the 30 day period following the
Accesss Date, Landlord may remove, dispose or otherwise store Tenant's Personal
Property outside the Leased Premises, at Lender's sole cost; (e) Lender has no
right to conduct any auction or other sale of Tenant's Personal Property at,
from or within the Leased Premises, except at such times and upon such terms as
Landlord may deem acceptable, in Landlord's reasonable discretion; (f) Landlord
or its agents may access and perform work within the Leased Premises during the
period in which the removal and repair work described above is being performed
by Lender (or its agents), so long as Landlord's work does not unreasonably
interfere with Lender's (or its agent's) work; and (g) nothing herein (other
than Landlord's agreement to subordinate) shall waive, modify or otherwise
restrict any of Landlord's rights, remedies and recourse under the Lease or
otherwise upon Tenant's default.

     EXECUTED this 7th day of June, 2000.

                                        LENDER:

                                        FLEET CAPITAL CORPORATION

                                        By:    /s/ David W. Kellogg
                                           --------------------------------
                                        Name:  David W. Kellogg
                                             ------------------------------
                                        Title: Vice President/Sr. Lender
                                             ------------------------------

                                      48
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Lease Schedule
                                                          No. 35076-00002
                                                          Acceptance Certificate
                                                          and UCC Financing
                                                          Statement(s)
With: NAVISITE, INC.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Quantity   Model  Unit#         Description                                               Serial#/Vin#
--------   -----  -----         -----------                                               ------------
<S>        <C>     <C>          <C>                                                       <C>
                                LOC# (01)

                                ELECTRICAL ITEMS AS MORE FULLY DESCRIBED BELOW:

                                VENDOR: PETERSON POWER (CAT)

   3                            3512 diesel engine generator systems; each
                                including, but not limited to, the following:
                                60hz 480 volts
                                60 hertz
                                Standby power application
                                3512 1250 EKW 60 hz pgs-stby
                                Electronic modular control PNL
                                English display units
                                CSA test and certification
                                Neutral grounding connection
                                Alarm module - NFPA 110
                                Panel lights/auxiliary relay
                                Coolant loss sensing
                                Cust communications module-CCM
                                2301A load sharing governor
                                Generator conversion (PM Excitation)
                                Space heater relay
                                Radiator 46/CV
                                Fan pulley 0.428 ratio
                                Coolant level sensor
                                Fuel priming pump, RH mounted
                                Flexible fuel lines
                                Fuel cooler
                                Fumes disposal
                                Jacket water heater - dual
                                Oil pan drain valve
                                24 volt battery set - dry
                                Battery charger 10 AMP
                                Charging Alternator 24V 35 AMP
                                Circuit Breaker, 2000A, 100%
                                Fuel/Water separator
                                Double Battery Box, Group 4D
                                Seismic Calculations
                                Vibration Isolator
                                Critical Silencer, 14 inch
                                Dimensions 9'W x 19' L
</TABLE>
--------------------------------------------------------------------------------

                                      49
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Lease Schedule
                                                          No. 35076-00002
                                                          Acceptance Certificate
                                                          and UCC Financing
                                                          Statement(s)
With: NAVISITE, INC.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Quantity   Model  Unit#         Description                                               Serial#/Vin#
--------   -----  -----         -----------                                               ------------
<S>        <C>     <C>          <C>                                                       <C>
                                VENDOR: RUSSELECTRIC INC.

   1                            Generator Paralleling and Distribution
                                Switchgear;
                                including, but not limited to, the following:
   1                            Master/Generator Control Cubicle CC
   5                            Circuit Breaker Cubicle

                                VENDOR: IEM

   1                            Metal Clad Switchgear "PSG" - NEMA3R non
                                walk-in 3
                                phase 3 wire 21KV 1200 AMP BUS 125KV BIL CONS
   1                            Switchgear "MHSB" - NEMA1 3 phase 3 wire 480V
                                2500
                                AMP, Class III, CU bussing 100KA1C/braced for
                                100KA
   1                            Switchgear "USB" - NEMA1 3 phase 4 wire 277/480V
                                2500 AMP Class III, CU bussing 100KA1C/braced
                                for 100KA
   2                            Balteau pad mounted transformers, 3000KVA, 3
                                phase, mineral oil filed, designed for outdoor
                                service. OA/FFA, 55/65 deg. C Rise, 30 deg.
                                Average ambient, 60Hz, with AI windings, 7.0%
                                impedance w/primary loop feed, dead front, no
                                lightening arrestors, 21KV primary - 125KV BIL
                                to 277/480V secondary
   1                            SWBD "Load Bank Breaker", NEMA1 enclosed, 480V 3
                                phase 3 wire w/grd. Class III, 3000A, CU
                                Bussing, 100KA1C
   2                            SWBD "UPSDPA", "UPSDPB", 2500A Bussing, 480V 3
                                phase 3 wire w/grd. Class I, 100KA1C
   4                            Dist. Panel "MDP11, MDP12, MDP21, MDP22", 600A
                                CU Bussing, 480V 3 phase 3 wire w/grd. 65KA1C,
                                wall mount
   1                            SWBD "HD72" 800A Cu Bussing, 480V 3 phase 3 wire
                                w/grd. 100KA1C, Class I
   1                            SWBD "MBPSB", 2500A CU Bussing, 480V 3 phase 3
                                wire w/grd. 65KA1C, Class I

                                VENDOR: POWERWARE

   3              625           Powerware Plus 750; each including, but not
                                limited to, the following:
                                (1) UPS OUT
                                (2) UPS System Cabinet
</TABLE>
--------------------------------------------------------------------------------

                                      50
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Lease Schedule
                                                          No. 35076-00002
                                                          Acceptance Certificate
                                                          and UCC Financing
                                                          Statement(s)
With: NAVISITE, INC.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Quantity   Model  Unit#         Description                                               Serial#/Vin#
--------   -----  -----         -----------                                               ------------
<S>        <C>     <C>          <C>                                                       <C>
                                (2) Battery Strings

                                HVAC & FIRE PROTECTION
                                SYSTEM ITEMS AS MORE FULLY
                                DESCRIBED BELOW:

                                VENDOR: N/A

   1                            HVAC system

                                VENDOR: VARIOUS

   1                   FM200    Fire Detection/Suppression System with Fenwal's
                                Smart One Analog Intelligent Multizone System
                                Technology

                                MECHANICAL & PLUMBING ITEMS AS MORE FULLY
                                DESCRIBED BELOW:

                                VENDOR: LIEBERT

  23                            Computer Room A/C Units; each including, but not
                                limited to, the following:
                                Quiet Line Condenser Units (CDF415L)
                                AHU (FH245A-ASOO)
                                60% Filters
                                Semi Hermetic Compressor
                                4-step unloading
                                Quiet Line Condenser Fan
                                Dual Supply Fan
                                Oversized Motor (7.5HP)
                                Top Single Point of Connection
                                Outdoor Unit Disconnect
                                Indoor Unit Disconnect
                                Controls for Johnson front end interface, Modbus
                                Hi Efficiency Motors
                                Extended Condenser Legs 36"
                                Leak detection kits, cable type

                                NOC AV EQUIPMENT ITEMS AS MORE FULLY DESCRIBED
                                BELOW:
</TABLE>
--------------------------------------------------------------------------------

                                      51
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Lease Schedule
                                                          No. 35076-00002
                                                          Acceptance Certificate
                                                          and UCC Financing
                                                          Statement(s)
with: NAVISITE, INC.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Quantity  Model  Unit#         Description                                               Serial#/Vin#
--------  -----  -----         -----------                                               ------------
<S>     <C>      <C>          <C>                                                       <C>
                                VENDOR: CEITRONICS

   1     A906MK2                TOA 8 input, 60W mixer-amp
   1     MB25B                  TOA Rack Mount Kit
   4     B01S                   TOA Bridging Line Input Module
   5     409-4T                 Altec 8" Coax Speaker/Transformer
   5     LB-8-CP                Lowell Tile Support Bridge
   5     XCP-810                Lowell Ceiling Backbox
   5     WB-8                   Lowell Speaker Grille
  22     RGB202xi               Extron Computer Interface
  22     U1                     MidAtlantic Mounting Shelf
  22     MCB                    Exide Interface Breakout Cable
   1     Axcent3PRO             AMX Integrated Control Chassis
   1     AXB-VOL3               AMX Volume Control Box
   4     AXC-232                AMX Serial/RS232 Card
   1     AXT-CV10               AMX Tilt Screen Control Panel
   1     SAS-BS3                Sony DSS Receiver & Dish
   1     1N1024                 Inline Video to RGBHS Scan Converter
   1     4YDM                   Autopatch 200MHz RGBHV with stereo audio matrix
                                switcher (32x16)
   9     VPL-X100U              Sony LCD Video Projector
   9     VPLL-FM30              Sony Short Focus Lens
   1                            Trooper 1x5, 60", 1.2 gain screen, wedge frame
   2                            Trooper 1x2, 60", 1.2 gain screen, wedge frame
   9     RPM                    Trooper Rear Screen Mounting /Mirror
   1     502-77B                Soundolier Equipment Rack
   2     542-77B                Soundolier Side Panels
   2     RWL-1                  Soundolier Work Light
  A/R    SB series              MidAtlantic Blank Panel
  A/R    VTF series             MidAtlantic Vent Panel
  A/R                           King BNC Connectors
  A/R    25292                  West Penn Plenum Line Cable
  A/R    25225                  West Penn Plenum Speaker Cable
  A/R    5C P/N                 Liberty Plenum RGBHV Cable

                                MISCELLANEOUS ITEMS ARE
</TABLE>
--------------------------------------------------------------------------------

                                      52
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Lease Schedule
                                                          No. 35076-00002
                                                          Acceptance Certificate
                                                          and UCC Financing
                                                          Statement(s)
With: NAVISITE, INC.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Quantity   Model  Unit#         Description                                               Serial#/Vin#
--------   -----  -----         -----------                                               ------------
<S>        <C>     <C>          <C>                                                       <C>
                                MORE FULLY DESCRIBED BELOW:

                                Vendor: ADT Security Services, Inc.

   1                            Integrated Access Control System; including, but
                                not limited to, the following:
   2                            Pro-Watch-NT client workstation w/printer
   1                            Pro-Watch-NT report printer
   1                            Visitor badge printer with badging kit
   1                            Digital camera with access control cards
   1                            Pro-Watch-NT Communications converter
   4                            LAN serial T interface with reader/controllers
   8                            Pro-Watch-NT four reader control panel
   8                            Power transformer for PW-2000 control panel with
                                power supplies
   8                            UL listed 12 VDC or 24 VDC, 4 AMP power supply
                                with card readers
   7                            HID proximity reader
   7                            Supression kit for PW-2000 relays with: door
                                contacts, rex motions, and local sounder
  20                            Recessed door contact
  20                            Request-to-exit motion detector - beige
   3                            RX-7 remote sounder
   7                            Armored door contact with CCTV exterior
   3                            Color integrated camera w/PTZ and presets
   3                            Exterior camera dome housing with heater &
                                blower
   1                            Exterior camera housing mounting bracket
   1                            Exterior camera housing
   3                            Corner mount adapter

                                VENDOR: N/A

                                NOC Console

                                VENDOR: N/A

   1                            Projection Screen

                                VENDOR: UNION PLANNING MILL

   1                            Security Counter
   1                            Reception Counter
                                Personal Lockers
</TABLE>
--------------------------------------------------------------------------------

                                      53

<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Lease Schedule
                                                          No. 35076-00002
                                                          Acceptance Certificate
                                                          and UCC Financing
                                                          Statement(s)
With: NAVISITE, INC.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Quantity   Model  Unit#         Description                                               Serial#/Vin#
--------   -----  -----         -----------                                               ------------
<S>        <C>     <C>          <C>                                                       <C>
                                VENDOR: WINBROOK ASSOCIATES, INC.

  15                            Three door server cabinets
  100                           One door server cabinets

                                VENDOR: RESOURCES FOR OFFICE INTERIORS

   1                            #76303 Rainbow chair w/arms in C.O.M. fabric
                                #2461-60 sky w/black frame
   8                            Dauphin Cosmos#CM5261 chair w/black/chrome
                                fabric #2461-60 sky
   2                            Patrician Fitzgerald table 39-1/4" diameter Tag:
                                recp.
   2                            Patrician end table Faulkner series
  14                            Nevins 36" round laminate table w/vinyl edge and
                                Atlantis Martini base/#4661-60 laminate
  44                            Thonet #5005P chair w/black frame and finish in
                                C.O.M. Vivaldi #AC63834 midnight #6
  46                            #4001 swivel tilt chair in C.O.M. fabric AD Navy
                                w/black frame and shell
   1                            Patrician Faulkner table 27" x  37"
  23                            BRCR 53-1/2" x 27" x 29" H training table in a
                                #4661-60 laminate w/black edge and base
  60                            Thornet #5002P chair w/out arms in a C.O.M.
                                fabric midnight #6/black finish
   4                            Nevins 48" round laminate table #4661-60/black
                                w/vinyl edge and Atlantis Martini base finishes
  20                            Thornet Reva #1700 chair stackable finish (7)
                                black, (7) blue and (6) green
   2                            Patrician #1726F Fitzgerald 27-1/4"
   2                            Rainbow task chairs in Authentic Cafe/black
  46                            #4008 sled base chairs in a #90 navy fabric Tag:
                                guest seating
                                (131) AIS Steelcase Avenir stations and (23)
                                offices
                                Fabric: Newport
                                Trim: Black
                                Laminate: Chromatix
</TABLE>
--------------------------------------------------------------------------------

WITH ALL STANDARD AND ACCESSORY EQUIPMENT

FLEET CAPITAL CORPORATION                       NAVISITE, INC.

By:  /s/ David W. Kellogg                       By:  /s/ Christopher R. Guiod
   ----------------------------                    ----------------------------
Name: David w. Kellogg                          Name: Christopher R. Guiod
     --------------------------                      --------------------------
Title: Vice President/Sr. Lender
      ---------------------------

                                      54
<PAGE>

[Fleet Capital Letterhead]

                                                              CONSENT AND WAIVER
                                   (OWNER, LANDLORD OR MORTGAGEE OF REAL ESTATE)

50 Kennedy Plaza
Providence, Rhode Island 02903

     The undersigned, 400 RIVER LIMITED PARTNERSHIP, of 200 Brickstone Square
                      -----------------------------     ----------------------
                           (print name)                   (street address)

Andover,  Massachusetts  01810          is the owner, landlord of the premises
--------------------------------------
(city or town)   (state and zip code)

located at      400 Minuteman Road                      Andover
           ---------------------------------- , ---------------------
             (street address)                      (city or town)

Massachusetts 01810       (the "Premises") which are occupied by NAVISITE, INC.
-------------------------
(state and zip code)

THE FOLLOWING IS SUBJECT IN ALL RESPECTS TO THE ADDENDUM ATTACHED TO THIS
CONSENT

     The undersigned acknowledges that Customer has leased or financed, or that
Customer expects to lease or finance from Fleet Capital Corporation ("FCC"), the
equipment set forth on Schedule A hereto, including any accessories, additions,
substitutions or replacements therefor (collectively, the Equipment), which may
from time to time be located at the Premises. To induce FCC to enter into a
lease or financing agreement with Customer, the undersigned agrees with FCC as
follows:

    *The undersigned waives any right, title or interest in or to the Equipment
     that it may now or hereafter have. *The undersigned irrevocably agrees and
     consents that it will refrain from taking any action to bar, restrain or
     otherwise prevent FCC, its agents, successors or assigns, from entering the
     Premises for the purpose of inspecting, removing or taking possession of
     the Equipment, and will grant FCC, its agents, successors or assigns the
     right of entry to the Premises to remove the Equipment at any reasonable
     time or times. FCC shall be responsible for any damage to the Premises that
     FCC causes in connection with its entry thereon and the removal of the
     Equipment therefrom. *The Equipment is and shall remain personal property,
     notwithstanding the manner in which it may be installed or affixed to the
     Premises.

     This Consent and Waiver shall inure to the benefit of the successors and
assigns of FCC and shall be binding upon the heirs, representatives, successors
and assigns of the undersigned. This Agreement shall be governed by and
construed in accordance with the laws of the state in which the Premises are
located, without reference to the principles of conflict of laws.

*to the extent set forth in the Addendum

                                      55
<PAGE>

                        ADDENDUM TO CONSENT AND WAIVER
                               (NaviSite, Inc.)

     This Addendum is attached to, incorporated into and amends the Consent and
Waiver, dated June 7, 2000 (as amended by this Addendum, the "Waiver
Certificate"), between Fleet Capital Corporation ("FCC") and 400 River Limited
Partnership ("Landlord"). If there is any conflict between the rest of the
Waiver Certificate and this Addendum, this Addendum will control in all
respects. Notwithstanding anything to the contrary in the Waiver Certificate or
otherwise, the parties agree as follows:

                (a) The installation and removal of the Equipment will be in
accordance with the terms of the lease of the Premises (with all amendments, the
"NaviSite Lease") between Landlord and NaviSite, Inc. ("Lessee"). FCC will
indemnify Landlord and its affiliates for and defend and hold them harmless from
all claims, costs, damages, injuries, liabilities and losses (including, without
limitation, attorneys' fees and costs) to the extent arising from FCC's and/or
its representatives' entry onto the Premises or the rest of the Project, the
removal of any Equipment, and any damage injuries or death caused thereby, and
at its cost FCC will promptly repair and restore any damage caused to the
Premises as a result thereof in accordance with applicable laws and codes and in
a commercially reasonable manner equivalent in quality and finish to the rest of
the Premises and so that the Premises and the systems and equipment therein
remain in good working order and condition despite the removal of the Equipment.

                (b) FCC will, if it wishes to, remove the Equipment from the
Premises on or before the earlier of the termination of the NaviSite Lease; or
within thirty (30) days after written notice (by overnight national courier,
telecopy or by certified mail, return receipt requested) from Landlord of an
uncured default under the NaviSite Lease, and in either case restore and repair
any damage to the Premises and/or the rest of the Project caused by such
removal. If FCC fails to remove all the of Equipment as and when required above,
all rights of FCC in and to the remaining Equipment irrevocably will be deemed
to have been waived and that Equipment will be deemed to have been abandoned by
FCC, and as between FCC and Landlord, Landlord may take any action with respect
to that Equipment that it deems advisable in its sole discretion without any
liability to FCC (all such liability being hereby waived), including, without
limitation, removing, selling, storing, destroying or using all or any portion
of the remaining Equipment. As between Landlord and Lessee, their respective
rights in and to the Equipment will be governed by the NaviSite Lease.

                (c) Landlord is not bound in any way by any leases, loan
documents or other agreements between FCC and Lessee. FCC has no rights or
claims with respect to the Premises except to enter the Premises for the sole
purpose or removing the Equipment, all in accordance with the terms hereof and
the terms of the NaviSite Lease, nor does Landlord have any obligations to FCC
except as specifically set forth herein. By its signature below, Lessee hereby
releases, and waives against Landlord and FCC and their respective affiliates,
any and all claims in connection with the matters described or referred to
herein, including, but not limited to, claims for breach of any covenant of
quiet enjoyment or other obligations or conditions under the NaviSite Lease
arising from FCC's entry onto the areas leased by Lessee and/or its removal of
the Equipment. Notwithstanding anything to the contrary, for purposes of this
Waiver Certificate, the Equipment will not be deemed to include, and Landlord
will not now or in the future be deemed to have waived or granted to FCC any
rights with respect to: Equipment, that was not Lessee's personal property paid
for by Lessee (although the manner of installation on the Premises will not, for
the purposes of this Waiver

                                      56
<PAGE>

Certificate only, be deemed to convert what was formerly Lessee's personal
property into "fixtures"); any items the removal of which would damage the
exterior or structure of the Premises or that are integral to or necessary for
the proper functioning of the base building systems and equipment therein; and
items listed under the "HVAC, Plumbing & Fire Protection" category in Schedule A
attached to this Waiver Certificate unless such items are dedicated solely to
the ground floor data center portion of the Premises.

     (d) Notwithstanding anything in this Waiver Certificate or elsewhere to the
contrary: FCC and Lessee will look solely to Landlord's interest in the Premises
to satisfy any claims, rights or remedies, and Landlord and its partners and
their respective affiliates (including any property managers), at every level of
ownership and interest, have no personal or individual liability of any type,
whether for breach of this Waiver Certificate or their negligence or otherwise
(and such liability is hereby waived by FCC and Lessee), their assets will not
be subject to lien or levy of any type, nor will they be named individually in
any suits, actions or proceedings of any type.

     (e) This Waiver Certificate is binding on and inures to the benefit of the
parties hereto and their respective successors, assigns and representatives, and
is an integrated agreement that may not be modified except by a written document
executed and delivered by Landlord and FCC.

     IN WITNESS WHEREOF, intending to be legally bound, the parties have
executed the Waiver Certificate as of June 7, 2000.

                                  LANDLORD

                                  400 River Limited Partnership, a Massachusetts
                                  limited partnership

                                  By:  Niuna-400 River, Inc.,
                                       general partner

                                       By: /s/ John Kusmiersky
                                           --------------------------------
                                           John Kusmiersky, President

FCC                               LESSEE

Fleet Capital Corporation         NaviSite, Inc.

By: /s/ David W. Kellogg          By: /s/ Kenneth W. Hale
    ------------------------          --------------------------
    Name:  David W. Kellogg           Name:  Kenneth W. Hale
    Title: Vice President/Sr.         Title: Chief Financial Officer
           Lender
    Authorized Signature              Authorized Signature

                                      57
<PAGE>

                                                                        No. 5907

CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT

--------------------------------------------------------------------------------

State of  CALIFORNIA
          ----------------------
County of LOS ANGELES
          ----------------------
On JUNE 7, 2000 before me, Mary A. Rocco, Notary Public
   ------------            -----------------------------------------------------
      DATE                 NAME, TITLE OF OFFICER, EG., JANE DOE, NOTARY PUBLIC
[X] personally known to me to be the person whose name is subscribed to the
within instrument and acknowledged to me that executed the same in his
authorized capacity, and that by his signature on the instrument, the entity
upon behalf of which the person acted, executed the instrument.
/NOTARY SEAL/
WITNESS my hand and official seal.

/s/ Mary A. Rocco
----------------------------------
      SIGNATURE OF NOTARY

----------------------------------OPTIONAL--------------------------------------

Though the data below is not required by law, it may prove valuable to persons
relying on the document and could prevent fraudulent reattachment of this form.

CAPACITY CLAIMED BY SIGNER
[ ] INDIVIDUAL
[X] CORPORATE OFFICER
    President
    -------------------------
           TITLE(S)
[x] PARTNER(S)   [ ] LIMITED
                 [x] GENERAL
[ ] ATTORNEY-IN-FACT
[ ] TRUSTEE(S)
[ ] GUARDIAN/CONSERVATOR
[ ] OTHER
          -------------------
    -------------------------
    -------------------------
SIGNER IS REPRESENTING:
NAME OF PERSON(S) OR ENTITY(IES)
Nuina-400 River, Inc., General Partner of
400 River Limited Partnership

DESCRIPTION OF ATTACHED DOCUMENT

   Consent and Waiver with
   Addendum to Consent and
   Waiver (NaviSite, Inc.)
--------------------------------
  TITLE OR TYPE OF DOCUMENT

       this page + 12
--------------------------------
       NUMBER OF PAGES

        June 7, 2000
--------------------------------
      DATE OF DOCUMENT

   Authorized Signatories of
  Fleet Capital Corporation &
        NaviSite, Inc.
--------------------------------
SIGNER(S) OTHER THAN NAMED ABOVE

   * The "Waiver Certificate"

--------------------------------------------------------------------------------

                                      58
<PAGE>

-------------------------------------------------------------------------------
                                 (CORPORATION)

STATE OF MASSACHUSETTS
         ------------------
                         ss.
COUNTY OF ESSEX
          -----------------

        I, Christopher R. Guiod, a Notary Public within and for said County, in
the State aforesaid, duly commissioned and acting, do hereby certify that on
this 7th day of June, ____, personally appeared before me Kenneth W. Hale (Name
of Signer for Undersigned), to me personally well known and known to me to be
the person who signed the foregoing Consent and Waiver, and known to me to be
and who, being by me duly sworn and being informed of the contents of said
Consent and Waiver, stated and acknowledged to me an oath that he was Chief
Financial Officer (Title) of NaviSite, Inc. the Corporation named in and which
executed the said Consent and Waiver, and that he knows the corporate seal of
said Corporation, and that the seal affixed to said Consent and Waiver is the
corporate seal of said Corporation, that he was duly authorized to execute said
Consent and Waiver, for, in the name of and on behalf of said Corporation, and
that same was signed, sealed, executed and delivered by him in the name of and
on behalf of said Corporation by authority of its Board of Directors and that
the execution of said Consent and Waiver was his free and voluntary act and deed
in his [sole] capacity and acknowledged to me that said Corporation executed the
same as its voluntary act and deed and was by him voluntarily executed, on
behalf of said corporation for the uses, purposes and considerations therein
mentioned and set forth.

        WITNESS my hand and seal as such Notary Public the day and year in this
certificate above witnessed.

My commission expires March 29, 2007                  Christopher R. Guiod
                                                      --------------------
                                                         (Notary Public)
                                                             (Seal)

                                      59
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Consent and Waiver
                                                          (Owner, Landlord or
                                                          Mortgagee of Real
                                                          Estate)
With: NaviSite, Inc. (35076-00001)
<TABLE>
<CAPTION>
QUANTITY     MODEL     UNIT#      DESCRIPTION                                SERIAL#/VIN#
-----------------------------------------------------------------------------------------
 <S>         <C>       <C>        <C>                                        <C>

                                  VENDOR: CDW COMPUTER CENTERS, INC.

   1                              IBM TP 390E6/333 6.4GB 64MB 2

                                  VENDOR: PROJECT SCHEDULERS

   1                              SureTrack system                            73134176

                                  VENDOR: NECR

   1                              Laptop bag & niccard

                                  VENDOR: BOISE CASCADE OFFICE PRODUCTS

 1 ct                             Chair, folding 5/ct bge ALTSRC=U22 1 ct
   1                              Table, fold DLX 36x96 wal req prod
                                  #E4FTD3696WA ALTSRC=U22 1 ea
   1                              Table, crt folding wal/st req prod
                                  #E4FTD3696WA ALTSRC=U22 1 ea

                                  VENDOR: NEXTEL

   1         I1000 plus           Cell phone with:
   1                              Charger: wall/travel
   1         900MAH LI            Battery: std
   1         I1000                Case: plastic holder

                                  VENDOR: PRO TOOL & SUPPLY

   2                              Item# WP60113; WAP sq 10 gal RDF vacuum
   2                              Item# WP100377; WAP Hepa filter kit

                                  VENDOR: GE APPLIANCES

   1                              ZDI15C BB ref-compact
   1                              GSD5920D BB undctr D/W
   4                              TCX22PAC BB refrigerator
   6                              JE1640GB Micro Wave O

                                  VENDOR: WHITNEY VEIGAS

  19                              LSI Life Safety ID signs

--------------------------------------------------------------------------------
</TABLE>
                                       60
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Consent and Waiver
                                                          (Owner, Landlord or
                                                          Mortgagee of Real
                                                          Estate)

With: NaviSite, Inc. (35076-00001)
<TABLE>
<CAPTION>
QUANTITY   MODEL   UNIT#    DESCRIPTION                                SERIAL#/VIN#
-----------------------------------------------------------------------------------------
 <S>       <C>     <C>      <C>                                        <C>

                            VENDOR: WINBROOK ASSOCIATES, INC.

  54                        Network cabinets
  54                        Standard rack 7x9
  29                        Single vertical cable management
  54                        Wire relay racks
  34                        Sun 450 29" customer cabinet
  190                       One-door customer cabinet
  21                        Two-door customer cabinet
  12                        Three-door customer cabinet
  13                        Sun 450 server cabinet 29x36x84
   6                        E-450 rackmount kits
  12                        Power strips

                            VENDOR: RESOURCES FOR OFFICE INTERIORS

  27                        Workstations
  308                       AIS steelcase Avenir stations
  68                        Offices; constructed
                            Fabric: Newport
                            Trim: Black
                            Laminate: Chromatix

                            ELECTICAL ITEMS, AS MORE FULLY DESCRIBED BELOW:

                            VENDOR: SOUTHWORTH-MILTON POWER SYSTEMS

   4       3516BDI          Outdoor Caterpillar Low Emissions Diesel Packaged
           TA               Generator Sets. Each unit rated 2000KW, continuous
                            standby power, 277/480 volt, 60 hertz, 1800 rpm, 3
                            phase, 0.8 pf. Included is the following for each
                            unit:
                            3500 Gallon Fuel Tank Base Double Walled with Leak
                            Detection
                            Structural Steel Base
                            Starting Batteries with Rack and Cables
                            Battery Charger
                            Charging Alternator
                            Engine/Generator Unit Mounted Control Panel
                            NFPA 99-Pre-Alarm Module
                            Engine Gauge Panel
                            3000 Amp Free Standing Circuit Breakers, 100%

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

                                      61
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Consent and Waiver
                                                          (Owner, Landlord or
                                                          Mortgagee of Real
                                                          Estate)

With: NaviSite, Inc. (35076-00001)
<TABLE>
<CAPTION>
QUANTITY     MODEL   UNIT   #DESCRIPTION                                     SERIAL#/VIN#
-----------------------------------------------------------------------------------------
 <S>         <C>     <C>    <C>                                              <C>

                            rated Mounted and Wired with Enclosure
                            Jacket Water Heater, Two (2) at 6000 Watts each
                            United Mounted Radiator, Stack Core Type, with
                            Fuel Oil Coolers
                            Permanent Magnet Generator
                            Automatic Start/Stop Package
                            Unit Mounted Control Panel, Caterpillar EMCPII+
                            Critical Grade Silencer mounted and insulated
                            within the Enclosure
                            Stainless Steel Flexible Connector
                            Flexible Fuel Connectors
                            Vibration Isolators, Seismic Spring Type
                            Lubricating Oil
                            Ethylene Glycol
                            Electronic Isochronous Governor with Load Share
                            Module
                            Remote Breakglass Shutdown Switch

   4                        LEA Dynatech System 3 TVSS units
   1                        4 Engine, NEMA 1 enclosed, wall mounted remote
                            annunciator panel
                            PDU distribution A & B panels

                            VENDOR: RUSSELECTRIC INC.

                            UTILITY PARALLELING/
                            GENERATOR CONTROL
                            SYSTEM CONSISTING OF THE
                            FOLLOWING:

   1                        Generator Control Cubicle; including, but not
                            limited to, (1) Programmable Logic Controller,
                            General Electric Series 90-30
   4                        Generator Control Cubicle
   1                        Master Control Cubicle
   4                        Utility Transfer Control Cubicle
   1                        Mimic Display Cubicle

   1                        Generator Circuit Breaker Switchgear consisting of
                            the following:
   4                        Generator Breaker Cubicle
   6                        Distribution Circuit Breaker Cubicle
   1                        Distribution Circuit Breaker Cubicle

--------------------------------------------------------------------------------
</TABLE>
                                      62
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Consent and Waiver
                                                          (Owner, Landlord or
                                                          Mortgagee of Real
                                                          Estate)

With: NaviSite, Inc. (35076-00001)
<TABLE>
<CAPTION>
QUANTITY     MODEL   UNIT#  DESCRIPTION                                            SERIAL#/VIN#
-----------------------------------------------------------------------------------------------
 <S>         <C>     <C>    <C>                                                    <C>

   1                        UPS Input Circuit Breaker Switchgear consisting of
                            the following:
   2                        Utility Main Breaker Cubicle
   2                        Generator Main Breaker Cubicle
   1                        Tie Circuit Breaker Cubicle
   4                        Distribution Breaker Cubicle
   2                        Distribution Circuit Breaker Cubicle

   1                        Mechanical/House Circuit Breaker Switchgear
                            consisting of the following:
   2                        Utility Main Breaker Cubicle
   2                        Generator Main Breaker Cubicle
   1                        Tie Circuit Breaker Cubicle
   6                        Distribution Breaker Cubicle
   1                        Distribution Circuit Breaker Cubicle

   1                        Russelectric SCADA Terminal consisting of the
                            following:
   1                        Master Display Unit; including, but not limited
                            to, (1) Desktop Personal Computer with 450 MHz
                            Pentium II Xeon Processor with 512K Cache, 256 MB
                            SDRAM, 9GB, Harddrive, 3.5" diskette drive, 13X
                            min / 32X max CD-ROM, Telepath modem w/x2
                            technology, 3COM PCI 10/100 twisted pair Ethernet
                            w/wol, 104+ keyboard and MS IntelliMouse, Gateway
                            Model E-5250, (1) 21" color monitor by Vivitron
                            model VX1100 (19.7" viewable), and (1) Hewlett
                            Parkard 6Pse printer.

                            VENDOR: LOAD TECHNOLOGY, INC.

   1                        Model: OSL6-2000.1-480V33-0600-(6) 100 Resistive
                            Load Bank, rating: 2000 KW, consisting of the
                            following:
                            An outdoor load enclosure containing the load
                            resistors, power controls and cooling fan.
                            An outdoor control enclosure containing the pilot
                            control devices for remote mounting.

                            VENDOR: PRITCHARD BROWN

   4                        Sound Attenuated Enclosure; including, but not
                            limited to the following:
                            3500 Gallon Capacity Fuel Tank

--------------------------------------------------------------------------------
</TABLE>
                                      63
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Consent and Waiver
                                                          (Owner, Landlord or
                                                          Mortgagee of Real
                                                          Estate)

With: NaviSite, Inc. (35076-00001)
<TABLE>
<CAPTION>
QUANTITY     MODEL   UNIT#  DESCRIPTION                                SERIAL#/VIN#
-----------------------------------------------------------------------------------------
 <S>         <C>     <C>    <C>                                        <C>

                            3850 Gallon Rupure Basin
                            4-Point Base Lift Plates
                            U.L. Listed Fuel Tank

                            VENDOR: EXIDE

   5                        750KVA Multi-Module Parallel UPS System with:
                            Input Voltage of: 480 VAC, 3 Phase, 3-Wire, 60 Hz
                            Output Voltage of: 480 VAC, 3 Phase, 3-Wire, 60 Hz
   5                        System Battery
   5                        2500AF/2000AT Battery Breaker with Aux. Contacts
                            and Shunt Trip
   5                        Manually Operated 2000 amp Fused Battery
                            Disconnect Switch
   1                        UPS Output Switchboard with System Bypass Control
                            by General Electric Rated at 100KAIC
   1                        Remote Monitor Panel

                            HVAC, PLUMBING & FIRE
                            PROTECTION
                            ITEMS AS MORE FULLY DESCRIBED
                            BELOW:

                            VENDOR: ADVANCED SAFETY SYSTEMS, INC.

             FM-200         Fire Detection/Suppression System with Fenwal's
                            Smart-One Analog Intelligent Multizone System
                            Technology for 3 zones.

                            VENDOR: DELTA MECHANICAL OF NEW ENGLAND, INC.

                            HVAC System; including, but not limited to, the
                            following:
                            Controls
                            Chillers
                            RTUs/AIIU
                            Cooling Towers
                            Pumps & Accessories
                            RGDs
                            Fans
                            Electric Heat & Cabs

--------------------------------------------------------------------------------
</TABLE>
                                       64
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Consent and Waiver
                                                          (Owner, Landlord or
                                                          Mortgagee of Real
                                                          Estate)

With: NaviSite, Inc. (35076-00001)
<TABLE>
<CAPTION>
QUANTITY     MODEL   UNIT#  DESCRIPTION                                SERIAL#/VIN#
-----------------------------------------------------------------------------------------
 <S>         <C>     <C>    <C>                                        <C>

                            Supply & Return Piping
                            Liebert Units
                            Fan Powered & VAV Boxes
                            Fire Dampers/Access Damper
                            Trailers
                            Smoke Dampers

                            AUDIO/VISUAL EQUIPMENT ITEMS AS MORE FULLY
                            DESCRIBED BELOW:

                            VENDOR: HB COMMUNICATIONS

   1         VPL-X1000      Sony LCD Video Projector
   1         VPLCFM30       Sony Short Focus Lens
   4         LMP-600        Sony Lamps
   1         WRK-24SA-27    MidAtlantic Equipment Rack
   1         MW-VT          MidAtlantic Vented Top
   1         PD-1415C       MidAtlantic Power Strip
   1         MD-KB          MidAtlantic Keyboard Tray
  10         U317           MidAtlantic Vented Shelves
   1         AS3-22         MidAtlantic Video Rackshelf (computer monitor)
   1         AV-16B         Cybex AutoView 16 input KVM Switcher
   9         CUFU-6         Cybex CPC/VGA Cables
   2         RMK-33         Cybex Rackmounts
   1         A-906          TOA Mixer/Power Amplifier
   1         MB-25B         TOA Rack Mount
   4         U21S           TOA Input Module
   5         C803-AT47      Soundolier 8" Coaxial Loudspeaker
   5         95-8-10        Soundolier 8" Loudspeaker enclosures
   5         61-8W          Soundolier Grille
   5         81-8           Soundolier T Bar Support
  22         RGB 202x       Extron Computer Interface
  22         MBC/VGA        MBC Input Cable
   1         AV             Creston Audiovisual Control System
   1         SAS-BS3        Sony DSS Receiver & Dish
   1         IN1024         Inline Video Scan Doubler

--------------------------------------------------------------------------------
</TABLE>
                                       65
<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Consent and Waiver
                                                          (Owner, Landlord or
                                                          Mortgagee of Real
                                                          Estate)

With: NaviSite, Inc. (35076-00001)
<TABLE>
<CAPTION>
QUANTITY     MODEL   UNIT#  DESCRIPTION                                SERIAL#/VIN#
-----------------------------------------------------------------------------------------
 <S>         <C>     <C>    <C>                                        <C>

   1                        Inline Rack Mount
   1         3200           Extron RGBHV Matrix Switcher
   9         VPL-X1000U     Sony LCD Video Projector
   9         VPLL-FM30      Sony Short Focus Lens
   9                        Trooper Rear Projection Screen
   9                        Trooper RPM System (Video Projection Support)
   1         WRK-44SA       MidAtlantic Equipment Rack
   1         RWL-1          Soundolier Rack Work Light
   1         SB             MidAtlantic Blank Panels
   1         VTF            MidAtlantic Vented Panels
   1                        Wiremold Power Strips
                            Cable & Connectors

                            SECURITY ITEMS AS MORE FULLY
                            DESCRIBED BELOW:

                            VENDOR: ADT SECURITY SERVICES, INC.

                            Central Security & Access Control Systems;
                            including, but not limited to, the following:
                            Recessed Magnetic Door Switch
                            Surface Mounted Door Switch
                            Relay Alarm Interface
                            Motion Detector (Passive Infrared)
                            Magnetic Lock with Power Supply for Access
                            Controlled Door
                            Interior Intercom Station with speaker and Signal
                            Button
                            Weatherproof Intercom Station with speaker and
                            Signal Button
                            Inside Close Circuit Television Camera with all
                            Accessories such as mounting brackets, bubble
                            ceiling housing and lens
                            Inside Close Circuit Television Camera with Pan
                            Tilt and Zoom with all Accessories such as
                            mounting brackets, bubble ceiling housing and lens
                            Outside Close Circuit Television Camera with Pan
                            Tilt and Zoom with Weatherproof Housing and
                            Equipment (Speed Dome)
                            Fixed Outside Close Circuit Television Camera

--------------------------------------------------------------------------------
</TABLE>
                                       66

<PAGE>

                              SCHEDULE A EQUIPMENT

Attached hereto and made part of the following documents: Consent and Waiver
                                                          (Owner, Landlord or
                                                          Mortgagee of Real
                                                          Estate)

With: NaviSite, Inc. (35076-00001)
<TABLE>
<CAPTION>
QUANTITY     MODEL   UNIT#  DESCRIPTION                                SERIAL#/VIN#
-----------------------------------------------------------------------------------------
 <S>         <C>     <C>    <C>                                        <C>

                            with Weatherproof Housing and Equipment
                            Assistance Button/Panic Alarm
                            Glass Break Detector
                            Proximity Reader Controlled Door with: Entrance
                            Card Reader, Electric Door Strike, Exit Device
                            (PIR), and Magnetic Switch
                            Proximity Card Reader Controlled Door with:
                            Entrance Card Reader, Exit Card Reader, Electric
                            Door Strike, and Magnetic Switch
                            Exterior Mounting for Card Reader
                            Multiplex Panel, Base Panel with Power Supply with
                            Battery Backup
                            Report Printer
                            Laser Printer
                            Work Station
                            Card Printing Supplies
                            Portable Video ID Input Camera with Interface
                            Cables
                            Digital Recorder for 32 CCTV Cameras
                            16 Camera Multiplexer
                            Proximity Card Reader
                            Visitor Printer Option (Printer and Software)

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

WITH ALL STANDARD AND ACCESSORY EQUIPMENT

                                       67<PAGE>
                                                                    EXHIBIT 10.3

                          REGISTRATION RIGHTS AGREEMENT

                            Dated as of May 31, 2000

                                  by and among

                       Prodigy Communications Corporation

                             SBC Communications Inc.

                                       and

                        SBC Internet Communications Inc.
<PAGE>

     This REGISTRATION RIGHTS AGREEMENT (the "Agreement") is made and entered
into as of May 31, 2000, by and among Prodigy Communications Corporation, a
Delaware corporation ("Prodigy"), SBC Communications Inc. a Delaware corporation
("SBC") and SBC Internet Communications, Inc., a Delaware corporation and an
indirect wholly owned subsidiary of SBC ("SBC Sub").

                                    RECITALS

     WHEREAS, Prodigy, Prodigy Transition Corporation, a Delaware corporation
and a wholly owned subsidiary of Prodigy, Prodigy Communications Limited
Partnership, a Delaware limited partnership, SBC and SBC Sub have entered into
an Investment, Issuance, Contribution and Assumption Agreement, dated as of
November 19, 1999 and amended as of April 19, 2000 (the "Investment Agreement");
and

     WHEREAS, pursuant to the Investment Agreement, SBC Sub received SBC Units
(as defined in the Investment Agreement), which are exchangeable into
Registrable Securities (as defined below) in accordance with the Restated
Certificate of Incorporation (as defined below), and the Investment Share (as
defined in the Investment Agreement), which is convertible into a Registrable
Security in accordance with the Restated Certificate of Incorporation; and

     WHEREAS, Prodigy has agreed to provide the registration rights set forth in
this Agreement;

     NOW THEREFORE, in consideration of the mutual covenants and undertakings
contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and subject to and on the terms
and conditions herein set forth, the parties hereto agree as follows:

1.  Definitions.
    -----------

     Capitalized terms used but not defined in this Agreement shall have the
respective meanings assigned to such terms in the Investment Agreement.  As used
in this Agreement, the following capitalized terms shall have the following
meanings:

     "Amended and Restated By-Laws" means the Amended and Restated By-Laws of
      ----------------------------
Prodigy as adopted on May 31, 2000.

     "Class A Common Shares" shall mean the shares of Class A Common Stock, par
      ---------------------
value $.01 per share, of Prodigy.

     "Demand Registration" shall have the meaning set forth in Section 2(a)
      -------------------
hereof.

     "Demand Registration Statement" shall have the meaning set forth in Section
      -----------------------------
2(a) hereof.
<PAGE>

     "Effective Time" shall mean the date on which the SEC declares a
      --------------
Registration Statement effective or on which such Registration Statement
otherwise becomes effective.

     "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended.
      ------------

     "Indemnified Person" shall have the meaning set forth in Section 6(a)
      ------------------
hereof.

     "Investment Agreement" shall have the meaning set forth in the Recitals.
      --------------------

     "NASD Rules" shall mean the Rules of the National Association of Securities
      ----------
Dealers, Inc., as amended from time to time.

     "Person" shall mean an individual, partnership, corporation, trust or
      ------
unincorporated organization, or a government or agency or political subdivision
thereof.

     "Piggyback Registration" shall have the meaning set forth in Section 3(a)
      ----------------------
hereof.

     "Prodigy" shall have the meaning set forth in the Preamble.
      -------

     "Proposed Registration" shall have the meaning set forth in Section 3(a)
      ---------------------
hereof.

     "Prospectus" shall mean the prospectus (including, without limitation, any
      ----------
preliminary prospectus, any final prospectus and any prospectus that discloses
information previously omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A under the Securities Act)
included in a Registration Statement, as amended or supplemented by any
prospectus supplement with respect to the terms of the offering of any portion
of the Registrable Securities covered by such Registration Statement and by all
other amendments and supplements to such prospectus, including all material
incorporated by reference in such prospectus and all documents filed after the
date of such prospectus by Prodigy under the Exchange Act and incorporated by
reference therein.

     "Registration Expenses" shall have the meaning set forth in Section 5(a)
      ---------------------
hereof.

     "Registrable Securities" shall mean the Class A Common Shares issued to
      ----------------------
SBC, SBC Sub or any direct or indirect transferee of SBC or SBC Sub upon
conversion of shares of Class B Common Stock or in exchange for Units, from time
to time, together with any other Class A Common Shares owned by SBC, SBC Sub or
such transferee, provided that a security ceases to be a Registrable Security
when it is no longer a Restricted Security.

     "Registration Statement" shall mean any registration statement of Prodigy
      ----------------------
which covers Registrable Securities pursuant to the provisions of this
Agreement, including the Prospectus, amendments and supplements to such
registration statement, including pre- and post-effective amendments, and all
exhibits and all material incorporated by reference in such registration
statement.

                                       2
<PAGE>

     "Restated Certificate of Incorporation" means the Restated Certificate of
      -------------------------------------
Incorporation of Prodigy as filed on May 31, 2000 with the Secretary of State of
the state of Delaware pursuant to the Delaware General Corporation Law.

     "Restricted Security" shall mean any security unless and until:
      -------------------

     (i) a registration statement with respect to the sale of such security
shall have been declared effective under the Securities Act and such security
shall have been disposed of in accordance with such registration statement,

     (ii) it is distributed to the public pursuant to Rule 144 (or any similar
provision then in force) under the Securities Act,

     (iii)  the provisions of Section 7(b) hereof apply, or

     (iv) such security shall have been otherwise transferred pursuant to an
applicable exemption under the Securities Act, new certificates for such
security not bearing a legend restricting further transfer shall have been
delivered by Prodigy and such security shall be freely transferable to the
public without registration under the Securities Act.

     "SBC" shall have the meaning set forth in the Preamble.
      ---

     "SBC Sub" shall have the meaning set forth in the Preamble.
      -------

     "Securities Act" shall mean the Securities Act of 1933, as amended.
      --------------

     "SEC" shall mean the Securities and Exchange Commission.
      ---

     "underwritten", "underwritten registration", "underwritten offering" or
      ------------    -------------------------    ---------------------
"underwritten registered offering" shall mean a registration in which securities
of Prodigy are sold to an underwriter for re-offering to the public pursuant to
an effective Registration Statement.

2.  Demand Registrations.
    --------------------

     (a) Notice.  SBC or SBC Sub may at any time make a written request to
Prodigy that Prodigy file a registration statement (a "Demand Registration
Statement") registering for offer and sale all or a part of its Registrable
Securities with the SEC under and in accordance with provisions of the
Securities Act (a "Demand Registration").  All requests made pursuant to this
paragraph will specify the aggregate number of the Registrable Securities to be
registered and will also specify the intended methods of disposition thereof.

     (b) Restrictions. Each Demand Registration Statement shall be filed as soon
as possible but in no event later than 30 days (which time period may be
extended at the option of Prodigy for up to one hundred twenty (120) days  no
more than one time in any calendar year if the Board of Directors of Prodigy
provides written notice (accompanied by a resolution of the

                                       3
<PAGE>

Board setting forth the following) to SBC and/or SBC Sub, as the case may be,
that it has determined that the filing of a Demand Registration Statement would
require Prodigy to disclose material non-public information, the disclosure of
which Prodigy's Board of Directors believes would be materially harmful to
Prodigy and its stockholders at that time) after the date SBC and/or SBC Sub, as
the case may be, makes the written request for registration under the preceding
paragraph, so long as Registrable Securities are still outstanding at each such
time. Prodigy shall not be required to effect more than two Demand Registrations
pursuant to this Section 2 in any calendar year.

     (c) Effectiveness.  Prodigy agrees to use its best efforts to cause each
such Demand Registration Statement to be declared effective by the SEC within 45
calendar days after filing,  and to keep it continuously effective for a period
of 120 days following the dates on which each such Demand Registration Statement
is declared effective or until all Registrable Securities included therein have
been sold, if earlier.

     (d) Priority of Securities in Demand Registrations.  In connection with any
underwritten Demand Registration, if the managing underwriter or underwriters
advise Prodigy in writing that, in its or their reasonable opinion, the
inclusion of the number of securities proposed to be registered exceeds the
number which can be sold in such offering, Prodigy will include in such
registration the number of securities which, in the opinion of such underwriter
or underwriters, can be sold as follows:  (i) first, the Registrable Securities
requested to be included in such Demand Registration by SBC and/or SBC Sub, as
the case may be; (ii) second, the Registrable Securities requested to be
included in such Demand Registration, pro rata among the holders of Registrable
Securities which have requested their Registrable Securities to be included
therein; (iii) third, any Class A Common Shares Prodigy proposes to sell; and
(iv) fourth, other Class A Common Shares requested to be included in such Demand
Registration.

     (e) Selection of Underwriters.  SBC and/or SBC Sub, as the case may be,
shall have the right, with respect to any Registration Statement to be filed as
a result of a Demand Registration, to determine whether such registration shall
be underwritten or not and to select any managing underwriter or underwriters to
administer the offering, which managing underwriter or underwriters will be of
nationally recognized standing and which will be reasonably acceptable to
Prodigy.

3.  Piggyback Registration Rights.
    -----------------------------

     (a) Rights to Piggyback.  Subject to the last sentence of this paragraph,
whenever Prodigy proposes to file a registration statement under the Securities
Act (a "Proposed Registration") with respect to any proposed public offering by
Prodigy or by any holders of Class A Common Shares  (or securities convertible
into or exchangeable or exercisable for Class A Common Shares) and the
registration form to be used may be used for the registration of the Registrable
Securities (a "Piggyback Registration"), Prodigy will give prompt written notice
to SBC and SBC Sub of its intention to effect such a registration and will,
subject to Section 3(b) below, include in such Piggyback Registration all
Registrable Securities with respect to which

                                       4
<PAGE>

Prodigy has received written request for inclusion therein within 15 days after
receipt of Prodigy's notice. Registrable Securities with respect to which such
requests for registration have been received will be registered by Prodigy and
offered to the public pursuant to this Section 3 on the same terms and subject
to the same conditions applicable to the registration in a Proposed Registration
of Class A Common Shares to be sold by Prodigy or by persons selling under such
Proposed Registration. Holders of Registrable Securities will not be entitled to
include Class A Common Shares pursuant to this Section 3(a) in any Registration
Statement pertaining to the registration of any securities of Prodigy in
connection with mergers, acquisitions, exchange offers, subscription offers,
dividend reinvestment plans or stock options or other employee benefit plans.

     (b) Priority on Piggyback Registrations.  In connection with an
underwritten Piggyback Registration, if the managing underwriter or underwriters
advise Prodigy in writing that, in its or their reasonable opinion, the
inclusion of the number of securities proposed to be registered exceeds the
number which can be sold in such offering, Prodigy will include in such
registration the number of securities which, in the opinion of such underwriter
or underwriters, can be sold as follows: (i) first, the Class A Common Shares
Prodigy proposes to sell or if the registration is in response to a demand
registration right of a Person (other than SBC or SBC Sub) whose registration
rights exist as of the date hereof and require such a priority, the securities
that the Person(s) demanding such registration propose or proposes to sell to
the extent of such a priority, (ii) second, the Registrable Securities requested
to be included in such registration and any securities requested to be included
in such registration by a Person who exercises its rights to have its securities
included in such registration, but only to the extent of such rights, pro rata
among the holders of Registrable Securities which have requested their
Registrable Securities to be included therein and such Persons which have
requested their securities to be included therein and (iii) third, other Class A
Common Shares requested to be included in such registration.

     (c) Selection of Underwriters.  If any Piggyback Registration is an
underwritten offering, Prodigy will select a managing underwriter or
underwriters to administer the offering, which managing underwriter or
underwriters will be of nationally recognized standing and which will be
reasonably acceptable to SBC.

4.  Registration Procedures.
    -----------------------

     In connection with Prodigy's obligation to file Registration Statements
pursuant to Sections 2 or 3 hereof, Prodigy shall use its best efforts to effect
such registration to permit the sale of such Registrable Securities in
accordance with the intended method or methods of disposition thereof, and
pursuant thereto Prodigy shall:

     (a) before filing a Registration Statement or Prospectus or any amendments
or supplements thereto, including documents incorporated by reference after the
initial filing of the Registration Statement, furnish to SBC and/or SBC Sub, as
the case may be, and the managing underwriters, if any, copies of all such
documents proposed to be filed, which documents will be

                                       5
<PAGE>

subject to the review of SBC and/or SBC Sub, as the case may be, and such
managing underwriters, and Prodigy shall not file any Registration Statement or
amendment thereto or any Prospectus or any supplement thereto (including such
documents incorporated by reference) to which SBC or the managing underwriters,
if any, shall reasonably object;

     (b) prepare and file with the SEC such amendments and post-effective
amendments to any Registration Statement, and such supplements to the
Prospectus, as may be reasonably requested by SBC and/or SBC Sub, as the case
may be, or any underwriter of Registrable Securities or as may be required by
the Securities Act or any rules or regulations promulgated thereunder or
otherwise necessary to keep the Registration Statement effective for the
applicable period;

     (c) cause the final Prospectus as supplemented to be filed pursuant to Rule
424 under the Securities Act if then required by the Securities Act;

     (d) comply with the provisions of the Securities Act with respect to the
disposition of all securities covered by such Registration Statement during the
applicable period in accordance with the intended methods of disposition by the
sellers thereof set forth in such Registration Statement or supplement to the
Prospectus;

     (e) notify SBC and/or SBC Sub, as the case may be, and the managing
underwriters, if any, promptly, and (if requested by any such Person) confirm
such notification in writing:

          (1) when the Prospectus or any Prospectus supplement or post-effective
     amendment has been filed, and, with respect to the Registration Statement
     or any post-effective amendment, when the same has become effective,

          (2) of any request by the SEC for amendments or supplements to the
     Registration Statement or the Prospectus or for additional information,

          (3) of the issuance by the SEC of any stop order suspending the
     effectiveness of the Registration Statement or the initiation of any
     proceedings for that purpose,

          (4) of the receipt by Prodigy of any notification with respect to the
     suspension of the qualification of the Registrable Securities for sale in
     any jurisdiction or the initiation or threatening of any proceeding for
     such purpose, and

          (5) of the happening of any event or the existence of any state of
     facts that requires the making of any changes in the Registration Statement
     or the Prospectus included therein so that, as of such date, such
     Registration Statement and Prospectus do not contain an untrue statement of
     a material fact and do not omit to state a material fact required to be
     stated therein or necessary to make the statements therein (in the case of
     the Prospectus, in light of the circumstances under which they were made)
     not misleading (which advice shall be accompanied by an instruction to SBC
     and SBC Sub to suspend the use of the Prospectus until the requisite
     changes have been made);

                                       6
<PAGE>

     (f) use its best efforts to prevent the issuance, and if issued to obtain
the withdrawal, of any order suspending the effectiveness of the Registration
Statement at the earliest possible time;

     (g) if reasonably requested by SBC and/or SBC Sub, as the case may be, or
the managing underwriter, immediately incorporate in a Prospectus supplement or
post-effective amendment such information as SBC and/or SBC Sub, as the case may
be, and the managing underwriters agree should be included therein relating to
the sale of the Registrable Securities, including, without limitation,
information with respect to the number of Registrable Securities being sold to
such underwriters, the purchase price being paid therefor by such underwriters
and with respect to any other terms of the underwritten (or best efforts
underwritten) offering of the Registrable Securities to be sold in such
offering, including the plan of distribution therefor; and make all required
filings of such Prospectus supplement or post-effective amendment as soon as
notified of the matters to be incorporated in such Prospectus supplement or
post-effective amendment;

     (h) promptly prior to the filing of any document which is to be
incorporated by reference into the Registration Statement or the Prospectus
(after initial filing of the Registration Statement) (i) provide copies of such
document to counsel to SBC and/or SBC Sub, as the case may be, and to the
managing underwriters, if any, and (ii) make Prodigy's representatives available
for discussion of such document and make such changes in such document prior to
the filing thereof as counsel for SBC and/or SBC Sub, as the case may be, or
underwriters may reasonably request;

     (i) furnish to SBC and/or SBC Sub, as the case may be, and each managing
underwriter, without charge, at least one signed copy of the Registration
Statement and any post-effective amendment thereto, including financial
statements and schedules, all documents incorporated therein by reference and
all exhibits (including those incorporated by reference);

     (j) deliver to SBC and/or SBC Sub, as the case may be, and the
underwriters, if any, without charge, as many copies of the Prospectus
(including each preliminary Prospectus) and any amendment or supplement thereto
as such Persons may reasonably request; Prodigy consents (except during the
continuance of any event described in Section 4(e)(5) above) to the use of the
Prospectus and any amendment or supplement thereto by SBC and/or SBC Sub, as the
case may be, and the underwriters, if any, in connection with the offering and
sale of the Registrable Securities covered by the Prospectus and any amendment
or supplement thereto;

     (k) prior to any offering of Registrable Securities pursuant to any
Registration Statement, (i) Prodigy shall register or qualify or cooperate with
SBC and/or SBC Sub, as the case may be, and its or their counsel in connection
with the registration or qualification of such Registrable Securities for offer
and sale under the securities or "blue sky" laws of such jurisdictions of or
within the United States of America as SBC or any underwriter reasonably
requests in writing, (ii) keep such registrations or qualifications in effect
and comply with such laws so as to permit the continuance of offers and sales in
such jurisdictions for so long as may

                                       7
<PAGE>

be necessary to enable SBC and/or SBC Sub, as the case may be, or the managing
underwriters, if any, to complete its distribution of Registrable Securities
pursuant to a Registration Statement, and (iii) take any and all other actions
necessary or advisable to enable the disposition in such jurisdictions of the
Registrable Securities covered by the Registration Statement; provided, however,
that in no event shall Prodigy be obligated to (i) qualify as a foreign
corporation or as a dealer in securities in any jurisdiction where it would not
otherwise be required to so qualify but for this Section 4(k) or (ii) file any
general consent to service of process in any such jurisdiction where it is not
as of the date hereof so subject;

     (l) cooperate with SBC and/or SBC Sub, as the case may be, and the managing
underwriters, if any, to facilitate the timely preparation and delivery of
certificates representing Registrable Securities to be sold pursuant to the
Registration Statement, which certificates, if so required by any securities
exchange upon which any Registrable Securities are listed, shall be penned,
lithographed or engraved, or produced by any combination of such methods, on
steel engraved borders, and which certificates shall be free of any restrictive
legends and in such denominations and registered in such names as SBC and/or SBC
Sub, as the case may be, or the managing underwriters may request at least two
business days prior to the sale of Registrable Securities pursuant to the
Registration Statement;

     (m) use its reasonable best efforts to cause the Registrable Securities
covered by the applicable Registration Statement to be registered with or
approved by such other governmental agencies or authorities of or within the
United States of America as may be necessary to enable SBC and/or SBC Sub, as
the case may be, or the managing underwriters, if any, to consummate the
disposition of such Registrable Securities;

     (n) if any fact contemplated by Section 4(e)(5) above shall exist, promptly
prepare a supplement or post-effective amendment to the Registration Statement
or the related Prospectus or any document incorporated therein by reference or
file any other required document so that, as thereafter delivered to the
purchasers of the Registrable Securities, the Prospectus will not contain an
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein not misleading;
provided, however, if the Board of Directors of Prodigy provides written notice
(accompanied by a resolution of the board setting forth the following) to SBC
and/or SBC Sub, as the case may be, that it has determined that it is advisable
to disclose in the Registration Statement material non-public information, the
disclosure of which Prodigy's Board of Directors believes would be materially
harmful to Prodigy and its stockholders at that time, Prodigy shall not be
required to prepare and file such amendment, supplement or document for such
period as the Board of Directors of Prodigy believes such disclosure would be
materially harmful to Prodigy; provided that such period shall be no more than
sixty calendar days.  If Prodigy notifies SBC and/or SBC Sub, as the case may
be, of the occurrence of any event contemplated by Section 4(e)(5) above, each
of SBC and SBC Sub agrees, as a consequence of the inclusion of any of SBC's or
SBC Sub's Registrable Securities in the Registration Statement, to suspend the
use of the Prospectus until the requisite changes to the Prospectus have been
made;

                                       8
<PAGE>

     (o) use all reasonable efforts to cause the Registrable Securities covered
by the Registration Statement to be listed for quotation on the Nasdaq National
Market or other stock exchange or trading system on which the Registrable
Securities primarily trade on or prior to the Effective Time of the Registration
Statement;

     (p) enter into such agreements (including an underwriting agreement in
form, scope and substance as is customary in underwritten offerings) and take
all such other actions in connection therewith as may be reasonably requested by
SBC and/or SBC Sub, as the case may be, and the managing underwriters, if any,
in order to expedite or facilitate the disposition of such Registrable
Securities and in such connection, whether or not an underwriting agreement is
entered into and whether or not the registration is an underwritten
registration:

          (1) make such representations and warranties to SBC and/or SBC Sub, as
     the case may be, and the underwriters, if any, in form, substance and scope
     as are customarily made by issuers to underwriters in underwritten
     offerings;

          (2) obtain opinions of counsel to Prodigy and bring-downs of such
     opinions (which counsel and opinions (in form, scope and substance) shall
     be reasonably satisfactory to SBC and to the managing underwriters, if any,
     and addressed to SBC and/or SBC Sub, as the case may be, and the
     underwriters, if any, covering:  (i) in the case of an underwritten
     offering, the matters customarily covered in opinions requested in
     underwritten offerings and such other matters as may be reasonably
     requested by SBC and/or SBC Sub, as the case may be, and the underwriters
     (it being agreed that the matters to be covered shall include, without
     limitation, as of the date of the opinion and as of the Effective Time of
     the Registration Statement or most recent post-effective amendment thereto,
     as the case may be, a statement as to the absence from the Registration
     Statement and the Prospectus, including the documents incorporated by
     reference therein, of an untrue statement of a material fact or the
     omission of a material fact required to be stated therein or necessary to
     make the statements therein not misleading), and (ii) in the case of
     offerings not involving an underwriter, the matters customarily covered in
     opinions requested in the type of offering involved, and, in the case of
     (i) or (ii), stating that the Registration Statement complies, as to form,
     with the requirements of the Securities Act;

          (3) obtain "cold comfort" letters and updates thereof from the
     independent public accountants of Prodigy (and, if necessary, from the
     independent public accountants of any Subsidiary of Prodigy or of any
     business acquired by Prodigy for which financial statements and financial
     data are, or are required to be, included in the Registration Statement)
     addressed to SBC and/or SBC Sub, as the case may be, and the underwriters,
     if any, such letters to be in customary form and covering matters of the
     type customarily covered in "cold comfort" letters by underwriters in
     connection with underwritten offerings;

                                       9
<PAGE>

          (4) if an underwriting agreement is entered into, the same shall set
     forth in full the indemnification and contribution provisions and
     procedures of Section 6 hereof with respect to all parties to be
     indemnified pursuant to Section 6 hereof; and

          (5) Prodigy shall deliver such documents and certificates as may be
     reasonably requested by SBC and/or SBC Sub, as the case may be, and the
     managing underwriters, if any, to evidence the continued validity of the
     representations and warranties made pursuant to Section 4(p)(1) above and
     to evidence compliance with any conditions contained in the underwriting
     agreement or other agreement entered into by Prodigy.

The above shall be done at each closing under such underwriting or similar
agreement or as and to the extent required thereunder;

     (q) make available for inspection by SBC and/or SBC Sub, as the case may
be, any underwriter participating in any disposition pursuant to such
Registration Statement, and any attorney or accountant retained by SBC and/or
SBC Sub, as the case may be, or such underwriter, all pertinent financial and
other records, pertinent corporate documents and properties of Prodigy and its
Subsidiaries, cause the officers, directors, agents and employees of Prodigy and
its Subsidiaries to supply all information in each case reasonably requested by
SBC and/or SBC Sub, as the case may be, or any such underwriter, attorney or
accountant in connection with the Registration Statement, provide SBC and/or SBC
Sub, as the case may be, and any such underwriter, attorney or accountant with
opportunities to discuss the business of Prodigy and its Subsidiaries with
Prodigy's officers and provide SBC and/or SBC Sub, as the case may be, and any
such underwriter, attorney or accountant with opportunities to discuss the
business of Prodigy and its Subsidiaries with the independent public accountants
who have certified Prodigy's most recent annual financial statements in each
case, as is customary for similar due diligence investigations; provided that
any records, information or documents that are designated in writing by Prodigy,
in good faith, as confidential shall be kept confidential by such Persons unless
disclosure is made in connection with a court proceeding or required by law, or
such records, information or documents become available to the public generally
or through a third party without an accompanying obligation of confidentiality;
and provided further that, if the foregoing inspection and information gathering
would otherwise disrupt Prodigy's conduct of its business, such inspection and
information gathering shall, to the greatest extent possible, be coordinated on
behalf of SBC and/or SBC Sub, as the case may be, and the other parties entitled
thereto by one counsel designated by and on behalf of SBC and/or SBC Sub, as the
case may be, and other parties;

     (r) otherwise use its best efforts to comply with all applicable rules and
regulations of the SEC, and make generally available to its securityholders as
soon as practicable, but in any event not later than eighteen months after the
effective date of the Registration Statement (as defined in Rule 158(c) under
the Securities Act), an earnings statement of Prodigy and its Subsidiaries
complying with Section 11(a) of the Securities Act and the rules and regulations
of the SEC thereunder (including, at the option of Prodigy, Rule 158);

                                       10
<PAGE>

     (s) in the event that any broker-dealer registered under the Exchange Act
shall be an "affiliate" (as defined in Rule 2720(b)(1) of the NASD Rules (or any
successor provision thereto)) of Prodigy or has a "conflict of interest" (as
defined in Rule 2720(b)(7) of the NASD Rules (or any successor provision
thereto)) and such broker-dealer shall underwrite, participate as a member of an
underwriting syndicate or selling group or assist in the distribution of any
Registrable Securities covered by a Registration Statement, whether as a holder
of such Registrable Securities or as an underwriter, a placement or sales agent
or a broker or dealer in respect thereof, or otherwise, Prodigy shall assist
such broker-dealer in complying with the requirements of the NASD Rules,
including, without limitation, by (A) engaging a "qualified independent
underwriter" (as defined in Rule 2720(b)(15) of the NASD Rules (or any successor
provision thereto)) to participate in the preparation of the registration
statement relating to such Registrable Securities, to exercise usual standards
of due diligence in respect thereto and to recommend the public offering price
of such Registrable Securities, (B) indemnifying such qualified independent
underwriter to the extent of the indemnification of underwriters provided in
Section 6 hereof, and (C) providing such information to such broker-dealer as
may be required in order for such broker-dealer to comply with the requirements
of the NASD Rules;

     (t) use its reasonable efforts to assist SBC and/or SBC Sub, as the case
may be, and the underwriters, if any, in marketing the Registrable Securities,
including causing its executive officers to participate in such "road show"
presentations and conference calls as may be customary in the marketing of
equity securities; provided, however, that SBC and/or SBC Sub, as the case may
be, shall cause the managing underwriters or placement agents of any Securities
to give such executives reasonable advance notice concerning the scheduling of
any such presentation or call; provided, further, that such presentations and
conference calls shall be scheduled with the understanding that the regular
responsibilities of such executive officers will take priority over any such
activities; and

     (u) take all other steps necessary to effect the registration, offering and
sale of the Registrable Securities covered by the Registration Statement
contemplated hereby.

     Prodigy may require SBC and/or SBC Sub, as the case may be, to furnish to
Prodigy such information regarding SBC and/or SBC Sub, as the case may be, and
the distribution of such securities as is required to be disclosed in the
Registration Statement.

     Each of SBC and SBC Sub agrees by acquisition of such Registrable
Securities that, upon receipt of any notice from Prodigy of the happening of any
event of the kind described in Section 4(e)(5) hereof, SBC and/or SBC Sub, as
the case may be, will forthwith discontinue disposition of Registrable
Securities pursuant to the Registration Statement until SBC's and/or SBC Sub's,
as the case may be, receipt of the copies of the supplemented or amended
Prospectus contemplated by Section 4(n) hereof, or until it is advised in
writing by Prodigy that the use of the Prospectus may be resumed, and has
received copies of any additional or supplemental filings which are incorporated
by reference in the Prospectus, and, if so directed by Prodigy, SBC and/or SBC
Sub, as the case may be, will deliver to Prodigy (at Prodigy's expense) all
copies, other than permanent file copies then in SBC's and/or SBC Sub's, as the
case may be,

                                       11
<PAGE>

possession, of the Prospectus covering such Registrable Securities current at
the time of receipt of such notice; provided that nothing in this paragraph
shall prohibit or restrict SBC and/or SBC Sub, as the case may be, from
effecting sales or transfers otherwise than under a Registration Statement. In
the event Prodigy shall give any such notice, the time periods mentioned in
Section 2(c) hereof shall be extended by the number of days during the period
from and including the date of the giving of such notice to and including the
date when SBC and/or SBC Sub, as the case may be, either receives the copies of
the supplemented or amended prospectus contemplated by Section 4(n) hereof or is
advised in writing by Prodigy that the use of the Prospectus may be resumed.

5.  Registration Expenses.
    ---------------------

     (a) All expenses incident to Prodigy's performance of, or compliance, with
this Agreement, including without limitation:

          (1) all registration and filing fees (including with respect to
     filings required to be made with the National Association of Securities
     Dealers);

          (2) fees and expenses of compliance with securities or blue sky laws
     of or within the United States of America (including fees and disbursements
     of counsel for the underwriters or selling holders in connection with blue
     sky qualifications of the Registrable Securities and determination of their
     eligibility for investment under the laws of such jurisdictions as the
     managing underwriters or SBC and/or SBC Sub, as the case may be, may
     designate);

          (3) printing, messenger, telephone, delivery, distribution and
     reproduction expenses;

          (4) fees and disbursements of counsel for Prodigy and up to $100,000
     of the fees and disbursements of counsel for SBC and/or SBC Sub, as the
     case may be, (including the expenses of any opinions required by or
     incident to such performance) and fees and disbursements for other advisors
     for SBC and/or SBC Sub, as the case may be;

          (5) fees and disbursements of all independent certified public
     accountants of Prodigy (including the expenses of any special audit and
     "cold comfort" letters required by or incident to such performance);

          (6) fees and disbursements of underwriters (excluding discounts,
     commissions or fees of underwriters, selling brokers, dealer managers or
     similar securities industry professionals relating to the distribution of
     the Registrable Securities or legal expenses of any person other than
     Prodigy, SBC and SBC Sub);

          (7) fees and expenses of other Persons retained by Prodigy; and

                                       12
<PAGE>

          (8) all out-of-pocket expenses and disbursements arising out of or
     related to any marketing efforts undertaken pursuant to Section 4(t) of
     this Agreement

(all such expenses being, herein called "Registration Expenses") will be borne
by Prodigy, regardless whether the Registration Statement becomes effective.

     To the extent that any Registration Expenses are incurred, assumed or paid
by SBC or SBC Sub, or any underwriter, Prodigy shall reimburse such Person for
the full amount of the Registration Expenses so incurred, assumed or paid
promptly after receipt of a written request therefor, which shall specify in
reasonable detail the nature and amount of the Registration Expenses.

     Prodigy will, in any event, pay its internal expenses (including, without
limitation, all salaries and expenses of its officers and employees performing
legal or accounting duties), the expense of any annual audit, rating agency
fees, the fees and expenses incurred in connection with the listing of the
securities to be registered on each securities exchange on which similar
securities issued by Prodigy are then listed and the fees and expenses of any
Person, including special experts, retained by Prodigy.

     (b) In connection with each Registration Statement required hereunder,
Prodigy shall not be responsible for the payment of any transfer taxes relating
to the sale or disposition of the Registrable Securities by SBC or SBC Sub or
for any underwriting discounts and commissions attributable to the sale of
Registrable Securities by or on behalf of SBC or SBC Sub.

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

     (a) Indemnification by Prodigy. In the event of any registration of
securities of Prodigy under the Securities Act, Prodigy shall indemnify and hold
harmless (i) in the case of any registration of Registrable Securities
hereunder, SBC and/or SBC Sub, as the case may be, and each underwriter, selling
agent or other securities professional, if any, which facilitates the
disposition of Registrable Securities, and each of their respective officers and
directors and each Person who controls SBC and/or SBC Sub, as the case may be,
or such underwriter, selling agent or other securities professional within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act,
and (ii) in the case of any registration statement of Prodigy, SBC, its
directors and officers and each Person who controls SBC within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act (each such
person being sometimes referred to as an "Indemnified Person") against any
losses, claims, damages or liabilities, joint or several, to which such
Indemnified Person may become subject under the Securities Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon (x) an untrue statement or alleged
untrue statement of a material fact contained in any Registration Statement
under which such Registrable Securities are to be registered under the
Securities Act, or any Prospectus contained therein or furnished by Prodigy to
any Indemnified Person, or any amendment or supplement thereto, or (y) the
omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make

                                       13
<PAGE>

the statements therein not misleading or (z) the failure of Prodigy to comply
with applicable law or the breach by Prodigy of this Agreement, and Prodigy
hereby agrees to reimburse such Indemnified Person for any legal or other
expenses reasonably incurred by them in connection with investigating or
defending any such action or claim as such expenses are incurred; provided,
however, that Prodigy shall not be liable to any such Indemnified Person in any
such case to the extent that any such loss, claim, damage or liability arises
out of or is based upon an untrue statement or alleged untrue statement or
omission or alleged omission made in such Registration Statement or Prospectus,
or amendment or supplement, in reliance upon and in conformity with written
information furnished to Prodigy by such Indemnified Person expressly for use
therein.

     (b) Indemnification by SBC and any Underwriters.  SBC agrees, as a
consequence of the inclusion of any of SBC's Registrable Securities in such
Registration Statement, SBC Sub agrees, as a consequence of the inclusion of any
of SBC Sub's Registrable Securities in such Registration Statement, and each
underwriter, selling agent or other securities professional, if any, which
facilitates the disposition of Registrable Securities shall agree, as a
consequence of facilitating such disposition of Registrable Securities,
severally and not jointly, to (i) indemnify and hold harmless Prodigy, its
directors, officers who sign the registration statement and each person, if any,
who controls Prodigy within the meaning of either Section 15 of the Securities
Act or Section 20 of the Exchange Act, against any losses, claims, damages or
liabilities to which Prodigy or such other persons may become subject, under the
Securities Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon an
untrue statement or alleged untrue statement of a material fact contained in
such Registration Statement or Prospectus, or any amendment or supplement, or
arise out of or are based upon the omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the
statements therein not misleading, in each case to the extent, but only to the
extent, that such untrue statement or alleged untrue statement or omission or
alleged omission was made in reliance upon and in conformity with written
information furnished to Prodigy by SBC and/or SBC Sub, as the case may be, or
such underwriter, selling agent or other securities professional expressly for
use therein, and (ii) reimburse Prodigy for any legal or other expenses
reasonably incurred by Prodigy in connection with investigating or defending any
such action or claim as such expenses are incurred.

     (c) Notices of Claims, Etc.  Promptly after receipt by an indemnified party
under subsection (a) or (b) above of notice of the commencement of any action,
such indemnified party shall, if a claim in respect thereof is to be made
against an indemnifying party under this Section 6 notify such indemnifying
party in writing of the commencement thereof; but the omission so to notify the
indemnifying party shall not relieve it from any liability which it may have to
any indemnified party otherwise than under this Section 6.  In case any such
action shall be brought against any indemnified party and it shall notify an
indemnifying party of the commencement thereof, such indemnifying party shall be
entitled to participate therein and, to the extent that it shall wish, jointly
with any other indemnifying party similarly notified, to assume the defense
thereof, with counsel reasonably satisfactory to such indemnified party (who
shall not, except with the consent of the indemnified party (which consent shall
not be unreasonably withheld or delayed), be counsel to the indemnifying party),
and, after notice from

                                       14
<PAGE>

the indemnifying party to such indemnified party of its election so to assume
the defense thereof, such indemnifying party shall not be liable to such
indemnified party under this Section 6 for any legal expenses of other counsel
or any other expenses, in each case subsequently incurred by such indemnified
party, in connection with the defense thereof other than reasonable costs of
investigation. No indemnifying party shall, without the written consent of the
indemnified party, effect the settlement or compromise of, or consent to the
entry of any judgment with respect to, any pending or threatened action or claim
in respect of which indemnification or contribution may be sought hereunder
(whether or not the indemnified party is an actual or potential party to such
action or claim) unless such settlement, compromise or judgment (i) includes an
unconditional release of the indemnified party from all liability arising out of
such action or claim and (ii) does not include a statement as to, or an
admission of, fault, culpability or a failure to act, by or on behalf of any
indemnified party.

     (d) Contribution.  If the indemnification provided for in this Section 6 is
unavailable to or insufficient to hold harmless an indemnified party under
subsection (a) or (b) above in respect of any losses, claims, damages or
liabilities (or actions in respect thereof) referred to therein, then each
indemnifying party shall contribute to the amount paid or payable by such
indemnified party as a result of such losses, claims, damages or liabilities (or
actions in respect thereof) in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party in connection
with the statements or omissions which resulted in such losses, claims, damages
or liabilities (or actions in respect thereof), as well as any other relevant
equitable considerations.  The relative fault of such indemnifying party and
indemnified party shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or omission or
alleged omission to state a material fact relates to information supplied by
such indemnifying party or by such indemnified party, and the parties' relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.  The parties hereto agree that it would not be just
and equitable if contribution pursuant to this Section 6(d) were determined by
pro rata allocation (even if SBC and/or SBC Sub, as the case may be, or any
underwriters, selling agents or other securities professionals or all of them
were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred
to in this Section 6(d).  The amount paid or payable by an indemnified party as
a result of the losses, claims, damages or liabilities (or actions in respect
thereof) referred to above shall be deemed to include any legal or other fees or
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.  The obligations of SBC and/or SBC
Sub, as the case may be, and any underwriters, selling agents or other
securities professionals in this Section 6(d) to contribute shall be several in
proportion to the percentage of Registrable Securities registered or
underwritten, as the case may be, by them and not joint.

     (e) Notwithstanding any other provision of this Section 6, in no event will
either (i) SBC or SBC Sub be required to undertake liability to any person under
this Section 6 for any

                                       15
<PAGE>

amounts in excess of the dollar amount of the proceeds to be received by SBC or
SBC Sub, respectively, from the sale of its Registrable Securities (after
deducting any fees, discounts and commissions applicable thereto) pursuant to
any Registration Statement under which such Registrable Securities are to be
registered under the Securities Act, or (ii) any underwriter, selling agent or
other securities professional be required to undertake liability to any person
hereunder for any amounts in excess of the discount, commission or other
compensation payable to such underwriter, selling agent or other securities
professional with respect to the Registrable Securities underwritten by it and
distributed to the public.

     (f) The obligations of Prodigy under this Section 6 shall be in addition to
any liability which Prodigy may otherwise have to any Indemnified Person and the
obligations of any Indemnified Person under this Section 6 shall be in addition
to any liability which such Indemnified Person may otherwise have to Prodigy.
The remedies provided in this Section 6 are not exclusive and shall not limit
any rights or remedies which may otherwise be available to an indemnified party
at law or in equity.

7.  Rule 144.
    --------

     (a) Prodigy covenants that it will timely file the reports required to be
filed by it under the Securities Act and the Exchange Act and the rules and
regulations adopted by the SEC thereunder (or, if Prodigy is not required to
file such reports, it will, upon the request of SBC make publicly available such
information as necessary to permit sales pursuant to Rule 144 under the
Securities Act), and it will take such further action as SBC and SBC Sub may
reasonably request, all to the extent required from time to time to enable SBC
and SBC Sub to sell Registrable Securities without registration under the
Securities Act within the limitation of the exemptions provided by (a) Rule 144
under the Securities Act, as such Rule may be amended from time to time, or (b)
any similar rule or regulation hereafter adopted by the SEC, including providing
any legal opinions.  Upon the request of SBC and/or SBC Sub, as the case may be,
Prodigy will deliver to SBC and/or SBC Sub, as the case may be, a written
statement as to whether it has complied with such information and requirements.

     (b) A security ceases to be a Restricted Security when SBC or SBC Sub, as
the case may be, is permitted to sell such security to the public without
restriction pursuant to Rule 144(k) (or any similar provisions then in force),
unless in SBC's or SBC Sub's, as the case may be, reasonable judgment, after
consultation with Prodigy, an underwritten registered offering is desirable to
distribute the security.  The determination as to whether SBC or SBC Sub, as the
case may be, is permitted to sell such security to the public without
restriction pursuant to Rule 144(k) (including, without limitation, the
determination as to whether SBC or SBC Sub, as the case may be, is an
"affiliate" of Prodigy, as such term is used in Rule 144), shall be made
promptly and in good faith by counsel to SBC or SBC Sub, as the case may be, and
counsel to Prodigy at such time as SBC or SBC Sub, as the case may be, seeks to
sell such security to the public pursuant to Rule 144(k).  In the event that an
underwritten registered offering is deemed to be desirable by SBC or SBC Sub, as
the case may be, to distribute a security, such security shall continue to be
deemed a Restricted Security hereunder.

                                       16
<PAGE>

8.  Approval for Listing.
    --------------------

     Promptly after the date hereof and after any subsequent increase in the
number of Registrable Securities, Prodigy shall take all necessary action to
cause all of the Registrable Securities to be approved for listing, subject to
official notice of issuance, on the Nasdaq National Market or other securities
exchange or dealer quotation system on which the Class A Common Shares may then
be listed or authorized for quotation.

9.  Term of Registration Rights.
    ---------------------------

     The rights of SBC and SBC Sub with respect to the registration rights
granted pursuant to this Agreement shall remain in effect, subject to the terms
hereof, so long as there are Registrable Securities or securities which are
convertible or exchangeable for Registrable Securities issued and outstanding.

10.  Further Agreements.
     ------------------

     (a) The parties agree that, subject to the advance notice requirements set
forth in the Restated Certificate of Incorporation, any conversion of Class B
Common Stock or exchange of Units for Class A Common Shares shall occur, at the
option of the exchanging or converting holder, contemporaneously with the
registration of the Class A Common Shares to be received, or the consummation of
the sale of such Class A Common Shares pursuant to such registration, or at such
other time as such holder shall request in writing.

     (b) Prodigy will not file any registration statement under the Securities
Act unless it shall first have given to SBC and/or SBC Sub, as the case may be,
for so long as SBC and/or SBC Sub, as the case may be, owns beneficially (as
such term is defined in the Exchange Act) 10% or more of the Common Stock (as
defined in the Restated Certificate of Incorporation) of Prodigy at the time
outstanding or is otherwise deemed to be a control person under the Securities
Act, at least 10 days' prior written notice thereof and, if so requested by SBC
and/or SBC Sub, as the case may be, within 10 days after such notice, SBC and/or
SBC Sub, as the case may be, shall have the right, at any time when, in the
reasonable judgment of SBC and/or SBC Sub, as the case may be,  SBC and/or SBC
Sub, as the case may be, is or might be deemed a controlling person of Prodigy
within the meaning of the Securities Act, (a) to participate in the preparation
and filing of each such registration statement to the extent provided in Section
4 hereof; (b) to receive the documents and notices specified in Section 4 hereof
and to make the requests specified in Section 4 hereof; (c) to receive signed
copies of the documents specified in Section 4 hereof addressed to SBC and/or
SBC Sub, as the case may be; and (d) to pay the fees and disbursements of
counsel to SBC and/or SBC Sub, as the case may be, which assists in such
participation.  If any such registration statement refers to SBC and/or SBC Sub,
as the case may be, by name or otherwise as the holder of any securities of
Prodigy, then SBC and/or SBC Sub, as the case may be, shall have the right (in
addition to any other rights it may have under this Agreement) to require, in
the event that such reference to SBC and/or SBC Sub, as the case may be, by name
or otherwise is not required by the Securities Act or any rules and regulations

                                       17
<PAGE>

promulgated thereunder, the deletion of the references to SBC and/or SBC Sub, as
the case may be.

11.  Miscellaneous.
     -------------

     (a) Remedies.  Each of SBC and SBC Sub, in addition to being entitled to
exercise all rights provided herein and granted by law, including recovery of
damages, will be entitled to specific performance of its rights under this
Agreement.  Prodigy agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions
of this Agreement and hereby agrees to waive the defense in any action for
specific performance that a remedy at law would be adequate.

     (b) Registration Rights of Other Persons.  Prodigy may grant to any Person
other than SBC and SBC Sub the right to request a registration of securities of
Prodigy under the Securities Act or the right to be included as a selling
stockholder in connection with any registration of Registrable Securities;
provided, however, that the granting of any such rights shall not conflict with
or otherwise alter any rights granted to SBC and SBC Sub hereunder.  The rights
granted to SBC and SBC Sub hereunder do not in any way conflict with and are not
inconsistent with the rights granted to the holders of Prodigy's securities
under any other agreements.

     (c) Adjustments Affecting Registrable Securities.  Prodigy will not take
any action, or permit any change to occur, with respect to the Registrable
Securities which would (i) adversely affect the ability of SBC or SBC Sub to
include such Registrable Securities in a registration undertaken pursuant to
this Agreement or (ii) adversely affect the marketability of such Registrable
Securities in any such registration.

     (d) Amendments and Waivers.  This Agreement, including this Section 11(d),
may be amended, and waivers or consents to departures from the provisions hereof
may be given, only by a written instrument duly executed by Prodigy, SBC and SBC
Sub.  Each holder of Registrable Securities outstanding at the time of any such
amendment, waiver or consent or thereafter shall be bound by any amendment,
waiver or consent effected pursuant to this Section 11(d), whether or not any
notice, writing or marking indicating such amendment, waiver or consent appears
on the Registrable Securities or is delivered to such holder.

     (e) Notices.  All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, registered first-
class mail, telex, telecopier, or air courier guaranteeing overnight delivery:

          (1) if to SBC or SBC Sub, initially at its address at SBC
     Communications Inc., 175 East Houston Street, San Antonio, Texas 78705,
     Facsimile:  210-351-5034, Attention: James S. Kahan, Senior Vice President
     -- Corporate Development, with a copy to General Counsel, and thereafter at
     such other address, notice of which is given in accordance with the
     provisions of this Section 11(e); and

                                       18
<PAGE>

          (2) if to Prodigy, initially at its address at Prodigy Communications
     Corporation, 44 South Broadway, White Plains, New York 10601, Facsimile:
     914-448-8198, Attention: Andrea S. Hirsch, and thereafter at such other
     address, notice of which is given in accordance with the provisions of this
     Section 11(e).

     All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; five business
days after being deposited in the mail, postage prepaid, if mailed; when
answered back, if telexed; when receipt acknowledged, if telecopied; and on the
next business day, if timely delivered to an air courier guaranteeing overnight
delivery.

     (f) Parties in Interest; Benefits of Registration Rights.  The parties to
this Agreement intend that each of SBC and SBC Sub shall be entitled to receive
the benefits of this Agreement and that each of SBC and SBC Sub shall be bound
by the terms and provisions of this Agreement by reason of its election with
respect to the Registrable Securities which are included in a Registration
Statement.  All the terms and provisions of this Agreement shall be binding
upon, shall inure to the benefit of and shall be enforceable by the respective
successors and assigns of the parties hereto.  In the event that any transferee
of SBC or SBC Sub shall acquire Registrable Securities, in any manner, whether
by gift, bequest, purchase, operation of law or otherwise, SBC, SBC Sub and such
transferee may, without any further writing or action of any kind, jointly
exercise the registration rights hereunder in such manner and in such proportion
as SBC and SBC Sub shall determine and, if such transferee jointly exercises
such registration rights with SBC and/or SBC Sub hereunder, such transferee
shall be conclusively deemed to have agreed to be bound by and to perform all of
the terms and provisions of this Agreement to the aforesaid extent.

     (g) Counterparts.  This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

     (h) Headings.  The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

     (i) Governing Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of New York, without giving effect to any
provisions relating to conflicts of laws.

     (j) Severability. In the event that any one or more of the provisions
contained herein, or the application thereof in any circumstances, is held
invalid, illegal or unenforceable in any respect for any reason, the validity,
legality and enforceability of any such provision in every other respect and of
the remaining provisions hereof shall not be in any way impaired or affected
thereby, it being intended that all of the rights and privileges of the parties
hereto shall be enforceable to the fullest extent permitted by law.

                                       19
<PAGE>

     (k) Survival.  The respective indemnities, agreements, representations,
warranties and other provisions set forth in this Agreement or made pursuant
hereto shall remain in full force and effect, regardless of any investigation
(or any statement as to the results thereof) made by or on behalf of SBC, SBC
Sub, any director or officer of SBC or SBC Sub, any agent or underwriter, any
director, officer or partner of such agent or underwriter, or any controlling
person of any of the foregoing, and shall survive the transfer and registration
of the Registrable Securities of SBC and SBC Sub.

     (l) Entire Agreement.  This Agreement is intended by the parties as a final
expression of their agreement and intended to be a complete and exclusive
statement of the agreement and understanding of the parties hereto in respect of
the subject matter contained herein.  There are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein
with respect to the registration rights granted by Prodigy with respect to the
Registrable Securities.  This Agreement supersedes all prior agreements and
understandings between the parties with respect to such subject matter.

                                       20
<PAGE>

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

                         PRODIGY COMMUNICATIONS CORPORATION

                         By: /s/ Andrea S. Hirsch
                             ---------------------------------------------------
                             Name:  Andrea S. Hirsch
                             Title: Executive Vice President and General Counsel

                         SBC COMMUNICATIONS INC.

                         By: /s/ James S. Kahan
                             ---------------------------------------------------
                              Name:  James S. Kahan
                              Title:  Senior Executive Vice President
                                          Corporate Development

                         SBC INTERNET COMMUNICATIONS INC.

                         By: /s/  Stephen A. McGaw
                             ---------------------------------------------------
                             Name:  Stephen A. McGaw
                             Title:  President

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