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                                                                 EXHIBIT 10.39

                                 AMENDMENT NO. 2
                                       TO
                                META GROUP, INC.
                       EMPLOYMENT AND MANAGEMENT AGREEMENT
                       -----------------------------------

This Amendment No. 2 ("Amendment") is entered into as of January 30, 2003 (the
"Amendment Effective Date") between HOWARD RUBIN, an individual residing at 450
Long Ridge Road, Pound Ridge, New York 10576 (the "Executive"), and META Group,
Inc. ("Company"), to amend the META GROUP, INC. EMPLOYMENT AND MANAGEMENT
AGREEMENT, dated as of October 27, 2000, as amended by Amendment No. 1 dated
July 31, 2002 (collectively, the "Employment Agreement") between them.

For good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the Executive and the Company (the "Parties") hereby agree
to amend the Employment Agreement as follows:

Capitalized terms not otherwise defined hereinbelow shall have the same meaning
ascribed to them in the Asset Purchase Agreement, as amended (the "AP
Agreement").

      1. Section 1 is deleted and replaced with the following:

"1. EMPLOYMENT BY THE COMPANY. The Company agrees to employ the Executive in the
position of Executive Vice President of the Company, and the Executive accepts
such employment and agrees to perform such duties as are customarily assigned to
an employee holding such positions, including without limitation management of
the Division; the parties acknowledge that all officers of the Company may by
law only be chosen, and with such titles, as determined by resolution of the
Company's Board of Directors, with authority and duties as prescribed in such
resolutions. The Executive agrees to devote his full business time and energies
to the business of the Company and/or its Subsidiaries and/or Affiliates and to
faithfully, diligently and competently perform his duties hereunder. In
furtherance of the foregoing, the Executive shall hold in trust for the benefit
of the Company, and promptly remit to the Company, any cash or in-kind income
received by the Executive during the Term (as defined below) from any source
other than (i) the Company and its Affiliates, (ii) passive investments made by
the Executive or for the Executive's benefit, and (iii) gifts to the Executive.
The Executive agrees to avoid using for business communication any personal
email address (other than the domain name metagroup.com), and shall use META
Group's email and sanctioned business cards and marketing logo(s). All staff
engaged in the support of MetricNet publications and services (Worldwide
Benchmark) business of the Division shall report to the Senior Vice President -
Data Services and Publications.

The Executive shall have direct management of the following MGC services (also
known as practice areas): SOP, PMP and OEP. For clarification, the Parties note
that, beginning February 28, 2002, PMP personnel were transferred to either SOP
or OEP; for accounting and performance purposes, PMP product codes shall remain
in effect to capture residual costs and residual Net Billings and Revenues,
until such time as the Chief Financial Officer of the Company determines
otherwise. The parties acknowledge that the configuration and names of the
practice areas are subject to change upon mutual agreement of the Company and
Executive in writing (where Email is an acceptable form of writing).

The Executive (for the performance of MM) will report to the Managing Director
of MGC, presently Michael Pedersen. For purposes of staff management, resource
management, consulting operations, accounting, bonus accrual and P&L reporting,
MM (except for purposes of staff management and resource management of
MetricNet) will be under and report directly to the

                                       1
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Managing Director of MGC. For purposes of marketing new products and leveraging
of MM intellectual property into the Company's research community, the Executive
will report directly to the Company's CEO. Existing staff engaged in the
Metricnet business shall report directly to the Senior Vice President - Data
Services and Publications. All MM staff hired after the date hereof to be
engaged in MM consulting (except for MetricNet), or support of MM (except for
MetricNet) operations in any capacity, shall report to the Executive. Changes in
reporting structure may be accomplished by mutual agreement of the parties
evidenced in written or electronic mail form."

2. In the event of any inconsistency between the terms of this Amendment and the
terms of the Employment Agreement, this Amendment shall take precedence.

3. Except as expressly amended as set forth herein, the Employment Agreement
shall remain in full force and effect in accordance with its terms.

4. This Amendment may be executed in several counterparts, all of which taken
together shall constitute one single agreement of the parties.

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by
their duly authorized representatives as of the date first written above.

                                 META GROUP, INC.

                                 By:   /s/ MIKE RIFFLE
                                       ----------------------------------------
                                      Name:  MIKE RIFFLE
                                      Title: Vice President, Global Affiliate
                                             Management

                                 HOWARD RUBIN

                                 /s/ HOWARD RUBIN
                                 ---------------------------------------------

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                                                                   EXHIBIT 10.40

                                  WAIVER NO. 2
                                       to
                                CREDIT AGREEMENT

     WAIVER NO. 2 (this "WAIVER NO. 2"), dated as of December 31, 2002, by and
between META GROUP, INC., a Delaware corporation (the "BORROWER") and THE BANK
OF NEW YORK (the "BANK").

                                    RECITALS

     A.   The Bank and the Borrower entered into that certain Amended and
Restated Credit Agreement, dated as of November 5, 2001, as amended by that
certain Amendment No. 1 and Waiver No. 1 to Credit Agreement between the Bank
and the Borrower, dated as of March 26, 2002 (as the same may be further amended
from time to time, the "CREDIT AGREEMENT"). Capitalized terms used herein which
are defined in the Credit Agreement shall have the meanings therein defined.

     B.   The Borrower has requested that the Bank waive violations of certain
covenants which have occurred prior to the date hereof.

     C.   Subject to the terms and conditions set forth herein, the Bank is
willing to agree to such waivers as more particularly hereinafter set forth.

          In consideration of the covenants, conditions and agreements
hereinafter set forth, and for other good and valuable consideration, the
receipt and adequacy of which are acknowledged, it is agreed as follows:

     I.   WAIVERS

          1.   Compliance with the provisions of subsections (a), (b), (c) and
(d) of Section 7.11 of the Credit Agreement, as in effect immediately on the
date hereof, is irrevocably waived with respect to the fiscal quarters ending on
September 30, 2002 and December 31, 2002.

     II.  REPRESENTATIONS

          1.   The Borrower has heretofore delivered to the Bank copies of the
audited consolidated balance sheets of the Borrower as of December 31, 2001 and
the related consolidated statements of operations, stockholder's equity and cash
flows for the fiscal years then ended (with the related notes and schedules, the
"FINANCIAL STATEMENTS"). The Financial Statements fairly present the
consolidated financial condition and results of the operations of the Borrower
and its Subsidiaries as of the dates and for the periods indicated therein and
have been prepared in conformity with GAAP. Except as reflected in the Financial
Statements or in the notes thereto, neither the Borrower nor any of its

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Subsidiaries has any obligation or liability of any kind (whether fixed,
accrued, Contingent, unmatured or otherwise) which, in accordance with GAAP,
should have been shown on the Financial Statements and was not. Since the date
of the Financial Statements, the Borrower has conducted its business only in the
ordinary course and there has been no Material Adverse Change.

          2.   All representations and warranties of the Borrower set forth in
Section 4 of the Credit Agreement are true and correct as of the date hereof.

     III. MISCELLANEOUS

          1.   The Borrower shall pay all of the Bank's expenses (including the
reasonable fees and disbursements of Special Counsel) in connection with this
Waiver No. 2.

          2.   In order to induce the Bank to execute this Waiver No. 2, the
Borrower hereby (i) certifies that, except for the events that are waived
herein, no Default or Event of Default exists under the Credit Agreement, (ii)
reaffirms and admits the validity and enforceability of the Loan Documents and
its obligations thereunder, and (iii) agrees and admits that it has no valid
defenses to or offsets against any of its obligations under the Loan Documents
as of the date hereof.

          3.   In all other respects, the Credit Agreement and the other Loan
Documents shall remain in full force and effect, and no waiver contained herein
with respect to any certain time period or any certain Section of the Credit
Agreement shall be deemed to be a waiver with respect to any other time period
or any other Section of the Credit Agreement.

          4.   This Waiver No. 2 may be executed in any number of counterparts,
each of which shall be an original and all of which shall constitute one
agreement. It shall not be necessary in making proof of this Waiver No. 2 to
produce or account for more than one counterpart containing the signature of the
party to be charged.

          5.   This Waiver No. 2 is being delivered in and is intended to be
performed in the State of New York and shall be construed and is enforceable in
accordance with, and shall be governed by, the internal laws of the State of New
York without regard to principles of conflict of laws.

          6.   This Waiver No. 2 shall be subject to such conditions and
limitations as are specified herein, and the rights of the parties under the
Credit Agreement and the other Loan Documents shall be otherwise unaffected.

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     IN WITNESS WHEREOF, the parties have caused this Waiver No. 2 to be duly
executed as of the date first written above.

                                        META GROUP, INC.

                                        By:   /s/ John A. Piontkowski
                                             ----------------------------------
                                             John A. Piontkowski
                                             Chief Financial Officer

                                        THE BANK OF NEW YORK

                                        By:   /s/ Richard L. Winkley
                                             ----------------------------------
                                             Richard L. Winkley
                                             Vice President

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