Document:

Exhibit 4.6

                           ILLUMINET HOLDINGS, INC.
                      NON-QUALIFIED STOCK OPTION AGREEMENT
                                ROGER H. MOORE

     This Stock Option Agreement (the "Option Agreement"), made this 29th day of
October, 1997 evidences the grant, by Illuminet Holdings, Inc., (the "Company"),
of a stock option to Roger Moore (the "Grantee") on the date hereof (the "Date
of Grant"). Although this Option is not granted under the Illuminet Holdings,
Inc. 1997 Equity Incentive Plan (the "Plan"), any capitalized terms not defined
herein shall have the same meaning as defined in Section 2 of the Plan.

     1. Shares Optioned and Option Price. The Grantee shall have an option to
purchase 260,000 shares of the Company's Common Stock, $.01 par value (the
"Shares"), at an exercise price of $9.43 for each share (the "Option"), subject
to the terms and conditions of this Option Agreement. The Option is not, nor is
it intended to be, an Incentive Stock Option as described in section 422 of the
Internal Revenue Code of 1986.

     2. Exercise Period. The Option may be exercised, from time to time, with
respect to the following number of Shares subject to this Option: (a) prior to
December 31, 1998, 40% of such Shares; (b) from and after December 31, 1998, 60%
of such Shares (less any Shares as to which this Option shall have been
exercised prior to December 31, 1998); (c) from and after December 31, 1999, 80%
of such Shares (less any Shares as to which this Option shall have been
exercised prior to December 31, 1999); and (d) from and after December 31, 2000,
100% of such Shares (less any Shares as to which this Option shall have been
exercised prior to December 31, 2000). Provided, however, that the Grantee's
right to exercise the Option shall terminate on the earliest to occur of the
following dates:

          i.   December 31, 2007;

          ii.  the first anniversary of the date of the Grantee's Termination of
               Service on account of Disability or death;

          iii. the date sixty days following the date of the Grantee's
               Termination of Service for any reason other than Disability or
               death (the "Termination Date"); provided, however, that until
               there is a regular public trading market for the Shares, as
               determined by the committee appointed by the Board of Directors
               (pursuant to Section 11) to administer this Option Agreement (the
               "Committee") the Termination Date shall be the date one year
               following the date of the Grantee's Termination of Service for
               any reason other than Disability or death.

Provided further that, following the date of the Grantee's Termination of
Service for any reason other than Disability or death, that portion of the
Shares that was not exercisable on the date of the Grantee's Termination of
Service shall not become exercisable.

     3. Restriction on Exercise After Termination. Notwithstanding the foregoing
provisions of paragraph 2 or any other provision of this Option Agreement, the
Committee, in its sole discretion, may, only with respect to any unvested
portion of this Option, reduce the number of Shares subject to the Option or may
cancel the Option in its entirety if the Grantee (a) takes other employment or
renders services to others without the written consent of the Company; or (b)
conducts himself in a manner that the Committee, in its sole discretion, deems
has adversely affected or may adversely affect the Company. The Grantee will not
be entitled to any remuneration or compensation whatsoever for the loss of all
or a

                                       10
<PAGE>

portion of the Grantee's Option if the number of Shares subject to the Grantee's
Option are reduced, or if the Grantee's Option is canceled in its entirety,
pursuant to this paragraph.

     4. Exercise. To the extent that the Option is exercisable hereunder, it may
be exercised in full or in part by the Grantee or, in the event of the Grantee's
death, by the person or persons to whom the Option was transferred by will or
the laws of descent and distribution, by delivering or mailing written notice of
the exercise and full payment of the purchase price to the Secretary of the
Company. The written notice shall be signed by each person entitled to exercise
the Option and shall specify the address and social security number of each
person. If any person other than the Grantee purports to be entitled to exercise
all or any portion of the Option, the written notice shall be accompanied by
proof, satisfactory to the Secretary of the Company, of that entitlement. The
written notice shall be accompanied by full payment in cash (including personal
check), in Shares represented by certificates transferring ownership to the
Company and with an aggregate Fair Market Value, as determined by the Committee,
equal to the purchase price on the date the written notice is received by the
Secretary, or in any combination of cash and Shares, provided that payment in
full or part by the transfer of Shares shall be subject to approval by the
Committee. Payment may also be made in such other manner as may be permitted by
the Plan at the time of exercise, subject to approval by the Committee. The
written notice will be effective and the Option shall be deemed exercised to the
extent specified in the notice on the date that the written notice (together
with required accompaniments) is received by the Secretary of the Company at its
then executive offices during regular business hours.

     5. Issue of Shares Upon Exercise. As soon as practicable after receipt of
an effective written notice of exercise and full payment of the purchase price
as provided in paragraph 4, the Secretary of the Company shall cause ownership
of the appropriate number of Shares to be transferred to the person or persons
exercising the Option by having a certificate or certificates for those Shares
registered in the name of such person or persons and shall have each certificate
delivered to the appropriate person. Notwithstanding the foregoing, if the
Company or a Subsidiary requires reimbursement of any tax required by law to be
withheld with respect to Shares received upon exercise of an Option, the
Secretary shall not transfer ownership of those Shares until the required
payment is made.

     6. Transferability of Options. The Grantee may transfer the Option to (i)
the spouse, children, or grandchildren of the Grantee ("Immediate Family
Members"), (ii) a trust or trusts for the exclusive benefits of such Immediate
Family Members, or (iii) a partnership in which such Immediate Family Members
are the only partners, provided that (y) there may be no consideration for any
such transfer and (z) subsequent transfers of the Option shall be prohibited,
except by will or the laws of descent and distribution. Following transfer, the
Option shall continue to be subject to the same terms and conditions as were
applicable immediately prior to transfer, provided that for the purposes of the
Option Agreement, the term "Grantee" shall be deemed to refer to the transferee.
The event of a Termination of Service shall continue to be applied with respect
to the original Grantee, following which the Option shall be exercisable by the
transferee only to the extent, and for the periods, specified in Paragraph 2.
Neither the Committee nor the Company shall have any obligation to provide
notice to a transferee of termination of the Option under the terms of this
Option Agreement.

     6.01 Transferees of Stockholders. The Company shall not be required to
transfer any Shares on its books which shall have been sold, assigned or
otherwise transferred in violation of this Option Agreement, or to treat as
owner of such shares of stock, or to accord the right to vote as such owner or
to pay dividends to, any person or organization to which any such Shares shall
have been sold, assigned or otherwise transferred, from and after any sale,
assignment or transfer of any Share made in violation of this Option Agreement.
Any transfer in violation of the terms of this Option Agreement shall be deemed
null and void.

                                       11
<PAGE>

     7. Authorized Leave. For purposes hereof, an authorized leave of absence
(authorized by the Company or a Subsidiary to the Grantee in writing) shall not
be deemed a Termination of Service hereunder.

     8. Taxes. The Grantee will be solely responsible for any Federal, state or
local income taxes imposed in connection with the exercise of the Option or the
delivery of Shares incident thereto, and the Grantee authorizes the Company or
any Subsidiary to make any withholding for taxes which the Company deems
necessary or proper in connection therewith, from any amounts due to the Grantee
by the Company. Subject to approval by the Committee, the Grantee may satisfy
such withholding obligations, in whole or in part, by (a) electing to have the
Company withhold otherwise deliverable Shares or (b) delivering to the Company
Shares then owned by Grantee having a Fair Market Value, as determined by the
Committee, equal to the amount required to be withheld.

     9. Risk of Investment. It is expressly understood and agreed that the
Grantee assumes all risks incident to any change hereafter in the applicable
laws or regulations or incident to any change in the market value of the Shares
after the exercise of this Option in whole or in part. The Grantee has made a
detailed inquiry concerning the Company and its business, and the Grantee is
aware of the limited market available for resale of the Shares. The Grantee
agrees that the Shares acquired on exercise of this Option shall be acquired for
his own account for investment only and not with a view to, or for resale in
connection with, any distribution or public offering thereof within the meaning
of the Securities Act of 1933 (the "Securities Act") or other applicable
securities laws. If the Board of Directors or Committee so determines, any stock
certificates issued upon exercise of this Option shall bear a legend to the
effect that the Shares have been so acquired. The Company may, but in no event
shall be required to, bear any expenses of complying with the Securities Act,
other applicable securities laws or the rules and regulations of any national
securities exchange or other regulatory authority in connection with the
registration, qualification, or transfer, as the case may be, of this Option or
any Shares acquired upon the exercise thereof. The foregoing restrictions on the
transfer of the Shares shall be inoperative if (a) the Company previously shall
have been furnished with an opinion of counsel, satisfactory to it, to the
effect that such transfer will not involve any violation of the Securities Act
and other applicable securities laws or (b) the Shares shall have been duly
registered in compliance with the Securities Act and other applicable state or
federal securities laws. If this Option, or the Shares subject to this Option,
are so registered under the Securities Act, the Grantee agrees that he will not
make a public offering of the said Shares except on a national securities
exchange on which the stock of the Company is then listed.

      10.   Transferability of Shares; Company Repurchase Option.

          10.01 No Transfer. Except as otherwise provided herein, and until such
time as (i) there shall be a regular public trading market for the Shares; or
(ii) the Board shall approve a transaction in which all shareholders are
expressly granted the right to transfer their shares, the Grantee may not sell,
pledge, give, assign, distribute, hypothecate, mortgage or transfer (all
hereinafter referred to as "transfer") any Shares acquired pursuant to this
Option Agreement; provided, however, that the Grantee may transfer Shares
acquired pursuant to this Option Agreement if the Committee specifically
consents thereto in writing prior to the consummation of the transfer, which
consent shall not be unreasonably withheld.

          10.02 Repurchase Option. The Company shall have the exclusive option
to purchase all, but not less than all, of the Shares acquired by Grantee
pursuant to this Option Agreement at a purchase price per Share equal to the
Fair Market Value, as determined by the Committee, on the date of such
Termination of Service (the "Purchase Option"). The Purchase Option shall be
exercisable for a thirty day period following the later of (i) the date on which
the Grantee acquires the Shares pursuant to the Option Agreement; or (ii) the
date of the Grantee's Termination of Service.

                                       12
<PAGE>

          10.03 Payment. If the Company elects to exercise the Purchase Option,
the Company shall give notice of its intention to purchase the Shares and
deliver payment for such Shares within fifteen days after the date of such
notice. At the Company's option, the Company may designate another person or
entity to purchase any of the Shares on its behalf, on the terms provided
herein.

          10.04 No Disclosure Obligation. The Grantee acknowledges and agrees
that neither the Company nor any of its shareholders, board members and
officers, has any duty or obligation to disclose to the Grantee any material
information regarding the business of the Company or affecting the value of the
Shares before or at the time of a Grantee's Termination of Service, including,
without limitation, any information concerning plans for the Company to make a
public offering of its securities or to be acquired by or merged with or into
another firm or entity.

      11.   Administration.

          11.01 The Committee. This Option Agreement shall be administered by
the Committee. The Committee shall consist of the same persons sitting on the
Committee who administer the Plan pursuant to Section 3 of that Plan. The
members of the Committee shall be appointed from time-to-time by, and shall
serve at the pleasure of, the Board of Directors.

          11.02 Authority of the Committee. It shall be the duty of the
Committee to administer this Option Agreement in accordance with its provisions.
The Committee shall have all powers and discretion necessary or appropriate to
administer this Option Agreement and to control its operation, including, but
not limited to, the power to (a) interpret this Option Agreement, (b) adopt
rules for the administration, interpretation and application of this Option
Agreement as are consistent therewith, and (c) interpret, amend or revoke any
such rules.

          11.03 Delegation by the Committee. The Committee in its sole
discretion and on such terms and conditions as it may provide, may delegate all
or any part of its authority and power under this Option Agreement to one or
more Board Members or Officers of the Company. Provided, however, that the
Committee may not delegate its authority and powers in any way which would
jeopardize this Option Agreement's qualification under Rule 16b-3.

          11.04 Decisions Binding. All determinations and decisions made by the
Committee, the Board and any delegate of the Committee pursuant to Section 11.03
shall be final, conclusive, and binding on all persons, and shall be given the
maximum deference permitted by law.

     12. Adjustments and Awards and Authorized Shares. In the event of any
merger, reorganization, consolidation, recapitalization, separation,
liquidation, stock dividend, stock split, Share combination, or other change in
the corporate structure of the Company affecting the Shares, the Committee shall
adjust the number and class of Shares which may be delivered under this Option
Agreement, and the number, class and price of Shares subject to be awarded, in
such manner as the Committee shall determine to be advisable or appropriate to
prevent the dilution or diminution of such Shares awarded herein.
Notwithstanding the proceeding, the number of Shares subject to be awarded shall
always be a whole number.

     13. Indemnification. Each person who is or shall have been a member of the
Committee or the Board of Directors shall be indemnified and held harmless by
the Company against and from (a) any loss, cost, liability or expense (including
attorneys' fees) that may be imposed upon or reasonably incurred by him or her
in connection with or resulting from any claim, action, suit or proceeding to
which he or she may be a party or in which he or she may be involved by reason
of any action taken or failure to act under this Option Agreement, and (b) from
any and all amounts paid by him or her in settlement thereof, with Company's
prior written approval, or paid by him or her in satisfaction of any judgment in

                                       13
<PAGE>

any such claim, action, suit or proceeding against him or her; provided,
however, that he or she shall give the Company an opportunity, at its own
expense, to handle and defend the same before he or she under takes to handle
and defend it on his or her own behalf. The foregoing right of indemnification
shall not be exclusive or any other rights of indemnification to which such
persons may be entitled under the Company's Certificate of Incorporation or
Bylaws, by contract, as a matter of law or otherwise, or under any power that
the Company may have to indemnify them or hold them harmless.

     14. Successors. All obligations of the Company under this Option Agreement,
with respect to Options granted hereunder, shall be binding on any successor to
the Company, whether the existence of such successor is the result of a direct
or indirect purchase, merger, consolidation or otherwise, or substantially all
of the business assets of the Company.

     15. Change in Control.

          15.01 Change in Control Event. In the event of a Change in Control of
the Company, the portion of the Option granted under this Option Agreement that
is not then exercisable shall become immediately exercisable as of the first
date that the Change in Control has been deemed to have occurred, and shall
remain as such for the remaining life of the Option as provided herein.
Notwithstanding the preceding sentence, in the event that the Committee is
advised by the Company's independent auditors that the effect of the preceding
sentence would be to preclude the ability of the Company to account for an
acquisition or merger transaction as a pooling of interests, the Committee may
declare the preceding sentence to be inoperable to such extent as the Committee,
in its sole discretion, deems advisable.

          15.02 Definition. For purposes of Section 15.01 above, a Change in
Control of the Company shall be deemed to have occurred if the conditions set
forth in any one or more of the following shall have been satisfied, unless such
condition shall have received prior approval of a majority vote of the
Continuing Directors, as defined below, indicating that Section 15.01 shall not
apply thereto:

               (a) Any "person", as such term is used in Sections 13(d) and
14(d) of the 1934 Act (other than the Company, any trustee or other fiduciary
holding securities under an employee benefit plan of the Company or any
corporation owned, directly or indirectly, by the stockholders of the Company in
substantially the same proportions as their ownership of stock of the Company),
is or becomes the "beneficial owner" (as defined in Rule 13(d)(3) under the
Exchange Act), directly or indirectly, of securities of the Company representing
30% or more of the combined voting power of the Company's then outstanding
securities.

               (b) During any period of two consecutive years (not including any
period prior to the Effective Date of this Option Agreement), individuals
("Existing Directors") who at the beginning of such period constitute the Board
of Directors, and any new Board Member ( an "Approved Director") (other than a
Board Member) designated by a person who has entered into an agreement with the
company to effect a transaction described in paragraph (a), (b) or (c) of this
Section 15.02) whose election by the Board of Directors or nomination for
election by the Company's shareholders was approved by a vote of at least 2/3 of
the Board Members then still in office who either were Board Members at the
beginning of the period or whose election or nomination for election previously
was so approved (Existing Directors together with Approved Directors
constituting "Continuing Directors"), cease for any reason to constitute at
least a majority of the Board of Directors.

               (c) The Stockholders of the Company approve a merger or
consolidation of the Company with any other person, other than (i) a merger or
consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities for the
surviving entity) more than 50% of the combined voting power of the voting
securities of the Company or such surviving entity

                                       14
<PAGE>

outstanding immediately after such merger or consolidation, or (ii) a merger in
which no "person" (as defined in paragraph (a) of this Section 16.02) acquires
more than 30% of the combined voting power of the Company's then outstanding
securities.

               (d) The Stockholders of the Company approve a plan of complete
liquidation of the Company or an agreement for the sale or disposition by the
Company of all or substantially all of the Company's assets (or any transaction
having a similar effect).

     16. Adjustments upon Merger or Asset Sale. In the event of a merger of the
Company with or into another corporation, or the sale of substantially all of
the assets of the Company, the Board of Directors, in its discretion, may
require the successor corporation to either (i) assume this Option or (ii)
substitute an equivalent of this Option by the successor corporation or a Parent
or Subsidiary of the successor corporation. If this Option is not assumed or
substituted in the event of a merger or sale of assets, this Option shall fully
vest and become immediately exercisable and the Committee shall notify the
Grantee that this Option shall be exercisable for a period of fifteen (15) days
from the date of such notice, and this Option shall terminate upon the
expiration of such period unless exercised. For the purposes of this paragraph,
this Option shall be considered assumed if, following the merger or sale of
assets, this Option confers the right to purchase or receive, for each Share
subject to this Option immediately prior to the merger or sale of assets, equal
consideration (whether stock, cash, or other securities or property) as received
in the merger or sale of assets by holders of each Share of common stock held on
the effective date of the transaction (and if holders of Shares were offered a
choice of consideration, the type of consideration chosen by the holders of a
majority of the outstanding Shares); provided, however, that if such
consideration received in the merger or sale of assets was not solely common
stock of the successor corporation or its Parent, the Committee may, with the
consent of the successor corporation, provide for the consideration to be
received upon the exercise of this Option, for each Share subject to this
Option, to be solely common stock of the successor corporation or its Parent
equal in fair market value to the per share consideration received by holders of
common stock in the merger or sale of assets.

     17. Severability. In the event any provision of this Option Agreement shall
be held illegal or invalid for any reason, the illegality or invalidity shall
not affect the remaining parts of this Option Agreement, and this Option
Agreement shall be construed and enforced as if the illegal or invalid provision
had not been included.

     18. Governing Law. This Award shall be governed under the laws of the State
of Delaware.

                                    ILLUMINET HOLDINGS, INC.

                                    By: /s/ Richard A. Lumpkin
                                    Title:   Chairman

                                       15
<PAGE>

                                 ACKNOWLEDGMENT

      The undersigned Grantee acknowledges that he or she understands and agrees
to be bound by each of the terms and conditions of this Option Agreement.

                                            /s/ Roger H.Moore
                                                Roger H. Moore

                                       16<PAGE>

                                                                     Exhibit 4.2

                          REGISTRATION RIGHTS AGREEMENT

                                                               December 21, 1995

To the Purchasers named
 at the foot hereof

Dear Sirs:

     This will confirm that in consideration of the purchase (i) by you on the
date hereof of an aggregate 19,999,000 shares of Common Stock (as such term is
defined herein) of GKN Holdings, Inc., a Delaware corporation (the "Company"),
pursuant to the Securities Purchase Agreement dated as of the date hereof among
the Company and you (the "Purchase Agreement"), and (ii) by WCAS Information
Partners, L.P. of 1,000 shares of Common Stock in connection with the
organization of the Company, and as an inducement to you to consummate the
transactions contemplated by the Purchase Agreement, the Company hereby
covenants and agrees with each of you, and with each subsequent holder of
Restricted Stock (as such term is defined herein), as follows:

            1. Certain Definitions. As used herein, the following terms shall
      have the following respective meanings:

            "Commission" shall mean the Securities and Exchange Commission, or
      any other federal agency at the time administering the Securities Act.

            "Common Stock" shall mean the Common Stock of the Company, as
      constituted as of the date of this Agreement, subject to adjustment
      pursuant to the provisions of Section 10 hereof.

            "Exchange Act" shall mean the Securities Exchange Act of 1934 or any
      similar federal statute, and the rules and regulations of the Commission
      thereunder, all as the same shall be in effect at the time.

            "Registration Expenses" shall mean the expenses so described in
      Section 8 hereof. "Restricted Stock" shall mean any shares of capital
      stock of the Company, the certificates for which are required to bear the
      legend set forth in Section 2 hereof.
<PAGE>

            "Securities Act" shall mean the Securities Act of 1933 or any
      similar federal statute, and the rules and regulations of the Commission
      thereunder, all as the same shall be in effect at the time.

            "Selling Expenses" shall mean the expenses so described in Section 8
      hereof.

            2.    Restrictive Legend. Each certificate representing the Common
                  Stock and each certificate issued upon exchange or transfer of
                  the Common Stock other than in a public sale or as otherwise
                  permitted by the last paragraph of paragraph 3 hereof shall be
                  stamped or otherwise imprinted with a legend substantially in
                  the following form:

            "THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
            UNDER THE SECURITIES ACT OF 1933, AND MAY NOT BE SOLD, TRANSFERRED
            OR OTHERWISE DISPOSED OF UNLESS THEY HAVE BEEN REGISTERED UNDER THAT
            ACT OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE."

            3.    Notice of Proposed Transfer. Prior to any proposed transfer of
                  any Restricted Stock (other than under the circumstances
                  described in Section 4, 5 or 6 hereof), the holder thereof
                  shall give written notice to the Company of its intention to
                  effect such transfer. Each such notice shall describe the
                  manner of the proposed transfer and, if requested by the
                  Company, shall be accompanied by an opinion of counsel
                  reasonably satisfactory to the Company (it being agreed that
                  Reboul, MacMurray, Hewitt, Maynard & Kristol shall be
                  satisfactory) to the effect that the proposed transfer of the
                  Restricted Stock may be effected without registration under
                  the Securities Act, whereupon the holder of such Restricted
                  Stock shall be entitled to transfer such Restricted Stock in
                  accordance with the terms of its notice; provided, however,
                  that no such opinion or other documentation shall be required
                  if such notice shall cover a distribution by Welsh, Carson,
                  Anderson & Stowe VII, L.P. or WCAS Information Partners, L.P.
                  to its partners. Each certificate for Restricted Stock
                  transferred as above provided shall bear the legend set forth
                  in Section 2, unless (i) such transfer is in accordance with
                  the provisions of Rule 144 (or any other rule permitting
                  public sale without registration under the Securities Act) or
                  (ii) the opinion of counsel referred to above is to the
                  further effect that the transferee and any subsequent
                  transferee (other than an affiliate of the Company) would be
                  entitled to transfer such securities in a public sale without
                  registration under the Securities Act.

                                       2
<PAGE>

      The foregoing restrictions on transferability of Restricted Stock shall
terminate as to any particular shares of Restricted Stock when such shares shall
have been effectively registered under the Securities Act and sold or otherwise
disposed of in accordance with the intended method of disposition by the seller
or sellers thereof set forth in the registration statement concerning such
shares. Whenever a holder of Restricted Stock is able to demonstrate to the
Company (and its counsel) that the provisions of Rule 144(k) of the Securities
Act are available to such holder without limitation, such holder of Restricted
Stock shall be entitled to receive from the Company, without expense, a new
certificate not bearing the restrictive legend set forth in Section 2.

            4.    Required Registration.

                  (a)   At any time the holders of Restricted Stock constituting
                        at least a majority of the total Restricted Stock
                        outstanding at such time may request the Company to
                        register under the Securities Act all or any portion of
                        the Restricted Stock held by such requesting holder or
                        holders for sale in the manner specified in such notice;
                        provided, however, that the only securities which the
                        Company shall be required to register pursuant hereto
                        shall be shares of Common Stock.

                  (b)   Promptly following receipt of any notice under this
                        Section 4, the Company shall immediately notify any
                        holders of Restricted Stock from whom notice has not
                        been received and shall use its best efforts to register
                        under the Securities Act, for public sale in accordance
                        with the method of disposition specified in such notice
                        from requesting holders, the number of shares of
                        Restricted Stock specified in such notice (and in any

                                       3
<PAGE>

                        notices received from other holders within 20 days after
                        their receipt of such notice from the Company);
                        provided, however, that if the proposed method of
                        disposition specified by the requesting holders shall be
                        an underwritten public offering, the number of shares of
                        Restricted Stock to be included in such an offering may
                        be reduced (pro rata among the requesting holders based
                        on the number of shares of Restricted Stock so requested
                        to be registered) if and to the extent that the managing
                        underwriter shall be of the opinion that such inclusion
                        would adversely affect the marketing of the Restricted
                        Stock to be sold. If such method of disposition shall be
                        an underwritten public offering, the Company may
                        designate the managing underwriter of such offering,
                        subject to the approval of the selling holders of a
                        majority of the Restricted Stock included in the
                        offering, which approval shall not be unreasonably
                        withheld. The Company shall be obligated to register
                        Restricted Stock pursuant to this Section 4 on two
                        occasions only. Notwithstanding anything to the contrary
                        contained herein, the obligation of the Company under
                        this Section 4 shall be deemed satisfied only when a
                        registration statement covering all shares of Restricted
                        Stock specified in notices received as aforesaid, for
                        sale in accordance with the method of disposition
                        specified by the requesting holder, shall have become
                        effective and, if such method of disposition is a firm
                        commitment underwritten public offering, all such shares
                        shall have been sold pursuant thereto.

                  (c)   The Company shall be entitled to include in any
                        registration statement referred to in this Section 4,
                        for sale in accordance with the method of disposition
                        specified by the requesting holders, shares of Common
                        Stock to be sold by the Company for its own account,
                        except as and to the extent that, in the opinion of the
                        managing underwriter (if such method of disposition
                        shall be an underwritten public offering), such
                        inclusion would adversely affect the marketing of the
                        Restricted Stock to be sold. Except as provided in this
                        paragraph (c), the Company will not effect any other
                        registration of its Common Stock, whether for its own
                        account or that of other holders, from the date of
                        receipt of a notice from requesting holders pursuant to
                        this Section 4 until the completion of the period of
                        distribution of the registration contemplated thereby.

                                       4
<PAGE>

            5.    Form S-3 Registration.

                  (a)   If the Company shall receive from any holder or holders
                        of Restricted Stock, a written request or requests that
                        the Company effect a registration on Form S-3 and any
                        related qualification or compliance with respect to
                        Restricted Stock owned by such holder or holders, the
                        reasonably anticipated aggregate price to the public of
                        which would exceed $1,000,000, the Company will:

                        (i)   promptly give written notice of the proposed
                              registration, and any related qualification or
                              compliance, to all other holders of Restricted
                              Stock; and

                        (ii)  as soon as practicable, effect such registration
                              (including, without limitation, the execution of
                              an undertaking to file post-effective amendments,
                              appropriate qualifications under applicable blue
                              sky or other state securities laws and appropriate
                              compliance with applicable regulations issued
                              under the Securities Act and any other government
                              requirements or regulations) as may be so
                              requested and as would permit or facilitate the
                              sale and distribution of all or such portion of
                              such holder's or holders' Restricted Stock as are
                              specified in such request, together with all or
                              such portion of the Restricted Stock of any holder
                              or holders joining in such request as are
                              specified in a written request given within thirty
                              (30) days after receipt of such written notice
                              from the Company, provided that the Company shall
                              not be obligated to effect any such registration,
                              qualification or compliance pursuant to this
                              Section 5 (A) more than once in any 180-day
                              period, or (B) if the Company is not entitled to
                              use Form S-3. Subject to the foregoing, the
                              Company shall file a registration statement
                              covering the Restricted Stock so requested to be
                              registered as soon as practicable after receipt of
                              the request or requests of the holders of the
                              Restricted Stock.

                  (b)   Registrations effected pursuant to this Section 5 shall
                        not be counted as requests for registration effected
                        pursuant to Section 4.

            6.    Incidental Registration. If the Company at any time (other
                  than pursuant to Section 4 or 5 hereof) proposes to register
                  any of its Common Stock under the Securities Act for sale to
                  the public, whether for its own account or for the account of
                  other securityholders or both (except with respect to
                  registration statements on Form S-4 or S-8 or another form not
                  available for registering the Restricted Stock for sale to the
                  public), it will give written notice at such time to all
                  holders of outstanding Restricted Stock of its intention to do
                  so. Upon the written request of any such holder, given within
                  30 days after receipt of any such notice by the Company, to
                  register any of its Restricted Stock (which request shall
                  state the intended method of disposition thereof), the Company
                  will use its best efforts to cause the Restricted Stock as to
                  which registration shall have been so requested, to be
                  included in the securities to be covered by the registration
                  statement proposed to be filed by the Company, all to the
                  extent requisite to permit the sale or other disposition by
                  the holder (in accordance with its written request) of such
                  Restricted Stock so registered; provided that nothing herein
                  shall prevent the Company from abandoning or delaying such
                  registration at any time. In the event that any registration
                  pursuant to this Section 6 shall be, in whole or in part, an
                  underwritten public offering of Common Stock, any request by a
                  holder pursuant to this Section 6 to register Restricted Stock
                  shall specify that either (i) such Restricted Stock is to be
                  included in the underwriting on the same terms and conditions
                  as the shares of Common Stock otherwise being sold through
                  underwriters under such registration or (ii) such Restricted
                  Stock is to be sold in the open market without any
                  underwriting, on terms and conditions comparable to those

                                       5
<PAGE>

                  normally applicable to offerings of common stock in reasonably
                  similar circumstances. The number of shares of Restricted
                  Stock to be included in such an underwriting may be reduced
                  (pro rata among the requesting holders of Restricted Stock
                  based upon the number of shares of Restricted Stock so
                  requested to be registered) if and to the extent that the
                  managing underwriter shall be of the opinion that such
                  inclusion would adversely affect the marketing of the
                  securities to be sold by the Company therein; provided,
                  however, that such number of shares of Restricted Stock shall
                  not be reduced if any shares are to be included in such
                  underwriting for the account of any person other than the
                  Company.

      Notwithstanding anything to the contrary contained in this Section 6, in
the event that there is a firm commitment underwritten public offering of
securities of the Company pursuant to a registration covering Restricted Stock
and a holder of Restricted Stock does not elect to sell his Restricted Stock to
the underwriters of the Company's securities in connection with such offering,
such holder shall refrain from selling such Restricted Stock so registered
pursuant to this Section 6 during the period of distribution of the Company's
securities by such underwriters and the period in which the underwriting
syndicate participates in the after market; provided, however, that such holder
shall, in any event, be entitled to sell its Restricted Stock commencing on the
90th day after the effective date of such registration statement.

            7.    Registration Procedures and Expenses. If and whenever the
                  Company is required by the provisions of Section 4, 5 or 6
                  hereof to use its best efforts to effect the registration of
                  any of the Restricted Stock under the Securities Act, the
                  Company will, as expeditiously as possible:

                  (a)   prepare (and afford counsel for the selling holders
                        reasonable opportunity to review and comment thereon)
                        and file with the Commission a registration statement
                        (which, in the case of an underwritten public offering
                        pursuant to Section 4 hereof, shall be on Form S-1 or
                        another form of general applicability satisfactory to
                        the managing underwriter selected as therein provided)
                        with respect to such securities and use its best efforts
                        to cause such registration statement to become and
                        remain effective for the period of the distribution
                        contemplated thereby (determined as hereinafter
                        provided);

                  (b)   prepare (and afford counsel for the selling holders
                        reasonable opportunity to review and comment thereon)
                        and file with the Commission such amendments and
                        supplements to such registration statement and the
                        prospectus used in connection therewith as may be
                        necessary to keep such registration statement effective
                        for the period specified in paragraph (a) above and as
                        comply with the provisions of the Securities Act with
                        respect to the disposition of all Restricted Stock
                        covered by such registration statement in accordance
                        with the sellers' intended method of disposition set
                        forth in such registration statement for such period;

                                       6
<PAGE>

                  (c)   furnish to each seller and to each underwriter such
                        number of copies of the registration statement and the
                        prospectus included therein (including each preliminary
                        prospectus) as such persons may reasonably request in
                        order to facilitate the public sale or other disposition
                        of the Restricted Stock covered by such registration
                        statement;

                  (d)   use its best efforts to register or qualify the
                        Restricted Stock covered by such registration statement
                        under the securities or blue sky laws of such
                        jurisdictions as the sellers of Restricted Stock or, in
                        the case of an underwritten public offering, the
                        managing underwriter, shall reasonably request (provided
                        that the Company will not be required to (i) qualify
                        generally to do business in any jurisdiction where it
                        would not otherwise be required to qualify but for this
                        paragraph (d), (ii) subject itself to taxation in any
                        such jurisdiction or (iii) consent to general service of
                        process in any jurisdiction);

                  (e)   immediately notify each seller under such registration
                        statement and each underwriter, at any time when a
                        prospectus relating thereto is required to be delivered
                        under the Securities Act, of the happening of any event
                        as a result of which the prospectus contained in such
                        registration statement, as then in effect, includes an
                        untrue statement of a material fact or omits to state
                        any material fact required to be stated therein or
                        necessary to make the statements therein not misleading
                        in the light of the circumstances then existing;

                  (f)   use its best efforts (if the offering is under- written)
                        to furnish, at the request of any seller, on the date
                        that Restricted Stock is delivered to the underwriters
                        for sale pursuant to such registration: (i) an opinion
                        dated such date of counsel representing the Company for
                        the purposes of such registration, addressed to the
                        underwriters and to such seller, stating that such
                        registration statement has become effective under the
                        Securities Act and that (A) to the best knowledge of
                        such counsel, no stop order suspending the effectiveness
                        thereof has been issued and no proceedings for that
                        purpose have been instituted or are pending or
                        contemplated under the Securities Act, (B) the
                        registration statement, the related prospectus, and each
                        amendment or supplement thereof, comply as to form in
                        all material respects with the requirements of the
                        Securities Act and the applicable rules and regulations
                        of the Commission thereunder (except that such counsel
                        need express no opinion as to financial statements, the
                        notes thereto, and the financial schedules and other
                        financial and statistical data contained therein) and
                        (C) to such other effects as may reasonably be requested
                        by counsel for the underwriters or by such seller or its
                        counsel, and (ii) a letter dated such date from the
                        independent public accountants retained by the Company,
                        addressed to the underwriters, stating that they are
                        independent public accountants within the meaning of the
                        Securities Act and that, in the opinion of such
                        accountants, the financial statements of the Company
                        included in the registration statement or the
                        prospectus, or any amendment or supplement thereof,
                        comply as to form in all material respects with the
                        applicable accounting requirements of the Securities
                        Act, and such letter shall additionally cover such other
                        financial matters (including information as to the
                        period ending no more than five business days prior to
                        the date of such letter) with respect to the
                        registration in respect of which such letter is being
                        given as such underwriters or seller may reasonably
                        request; and

                                       7
<PAGE>

                  (g)   make available for inspection by each seller, any
                        underwriter participating in any distribution pursuant
                        to such registration statement, and any attorney,
                        accountant or other agent retained by such seller or
                        underwriter, all financial and other records, pertinent
                        corporate documents and properties of the Company, and
                        cause the Company's officers, directors and employees to
                        supply all information reasonably requested by any such
                        seller, underwriter, attorney, accountant or agent in
                        connection with such registration statement and permit
                        such seller, attorney, accountant or agent to
                        participate in the preparation of such registration
                        statement.

For purposes of paragraphs (a) and (b) above and of Section 4(c) hereof, the
period of distribution of Restricted Stock in a firm commitment underwritten
public offering shall be deemed to extend until each underwriter has completed
the distribution of all securities purchased by it, and the period of
distribution of Restricted Stock in any other registration shall be deemed to
extend until the earlier of the sale of all Restricted Stock covered thereby or
six months after the effective date thereof.

      In connection with each registration hereunder, the selling holders of
Restricted Stock will furnish to the Company in writing such information with
respect to themselves and the proposed distribution by them as shall be
reasonably necessary in order to assure compliance with federal and applicable
state securities laws.

      In connection with each registration pursuant to Sections 4, 5 and 6
hereof covering an underwritten public offering, the Company agrees to enter
into a written agreement with the managing underwriter selected in the manner
herein provided in such form and containing such provisions as are customary in
the securities business for such an arrangement between major underwriters and
companies of the Company's size and investment stature, provided, however, that
such agreement shall not contain any such provision applicable to the Company
which is inconsistent with the provisions hereof and provided, further, however,
that the time and place of the closing under said agreement shall be as mutually
agreed upon among the Company, such managing underwriter and the selling holders
of Restricted Stock.

            8.    Expenses. All expenses incurred by the Company in complying
                  with Sections 4, 5 and 6 hereof, including, without
                  limitation, all registration and filing fees, printing
                  expenses, fees and disbursements of counsel and independent
                  public accountants for the Company, fees of the National
                  Association of Securities Dealers, Inc., transfer taxes, fees
                  of transfer agents and registrars and fees and expenses of
                  counsel for the sellers of Restricted Stock but excluding any
                  Selling Expenses, are herein called "Registration Expenses".
                  All underwriting discounts and selling commissions applicable
                  to the sale of Restricted Stock are herein called "Selling
                  Expenses".

      The Company will pay all Registration Expenses in connection with each
registration statement filed pursuant to Section 4, 5 or 6 hereof. All Selling
Expenses in connection with any registration statement filed pursuant to Section
4, 5 or 6 hereof shall be borne by the participating sellers in proportion to
the number of shares sold by each, or by such persons other than the Company
(except to the extent the Company shall be a seller) as they may agree.

            9.    Indemnification. In the event of a registration of any of the
                  Restricted Stock under the Securities Act pursuant to Section
                  4, 5 or 6 hereof, the Company will indemnify and hold harmless
                  each seller of such Restricted Stock thereunder and each
                  underwriter of Restricted Stock thereunder and each other
                  person, if any, who controls such seller or underwriter within
                  the meaning of the Securities Act, against any losses, claims,
                  damages or liabilities, joint or several, to which such seller
                  or underwriter or controlling 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 any untrue statement or alleged
                  untrue statement of any material fact contained in any
                  registration statement under which such Restricted Stock was
                  registered under the Securities Act pursuant to Section 4,5 or
                  6, any preliminary prospectus or final prospectus contained
                  therein, or any amendment or supplement thereof, 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, and
                  will reimburse each such seller, each such underwriter and
                  each such controlling person for any legal or other expenses
                  reasonably incurred by them in connection with investigating
                  or defending any such loss, claim, damage, liability or
                  action; provided, however, that the Company will not be liable
                  in any such case if and 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 so made in conformity with information
                  furnished by such seller, such underwriter or such controlling
                  person in writing specifically for use in such registration
                  statement or prospectus.

                                       8
<PAGE>

      In the event of a registration of any of the Restricted Stock under the
Securities Act pursuant to Section 4, 5 or 6 hereof, each seller of such
Restricted Stock thereunder, severally and not jointly, will indemnify and hold
harmless the Company and each person, if any, who controls the Company within
the meaning of the Securities Act, each officer of the Company who signs the
registration statement, each director of the Company, each underwriter and each
person who controls any underwriter within the meaning of the Securities Act,
against all losses, claims, damages or liabilities, joint or several, to which
the Company or such officer or director or underwriter or controlling 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 any untrue statement or alleged untrue statement of any material
fact contained in the registration statement under which such Restricted Stock
was registered under the Securities Act pursuant to Section 4, 5 or 6, any
preliminary prospectus or final prospectus contained therein, or any amendment
or supplement thereof, 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, and will reimburse the
Company and each such officer, director, underwriter and controlling person for
any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action;
provided, however, that such seller will be liable hereunder in any such case if
and only 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 reliance upon and in conformity with information
pertaining to such seller, as such, furnished in writing to the Company by such
seller specifically for use in such registration statement or prospectus;
provided, further, however, that the liability of each seller hereunder shall be
limited to the proportion of any such loss, claim, damage, liability or expense
which is equal to the proportion that the public offering price of shares sold
by such seller under such registration statement bears to the total public
offering price of all securities sold thereunder, but not to exceed the proceeds
(net of underwriting discounts and commissions) received by such seller from the
sale of Restricted Stock covered by such registration statement.

      Promptly after receipt by an indemnified party hereunder of notice of the
commencement of any action, such indemnified party shall, if a claim in respect
thereof is to be made against the indemnifying party hereunder, notify the
indemnifying party in writing 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 other than under this Section 9. In case any such action
shall be brought against any indemnified party and it shall notify the
indemnifying party of the commencement thereof, the indemnifying party shall be
entitled to participate in and, to the extent it shall wish, to assume and
undertake the defense thereof with counsel satisfactory to such indemnified
party, and, after notice from the indemnifying party to such indemnified party
of its election so to assume and undertake the defense thereof, the indemnifying
party shall not be liable to such indemnified party under this Section 8 for any
legal expenses subsequently

                                       9
<PAGE>

incurred by such indemnified party in connection with the defense thereof other
than reasonable costs of investigation and of liaison with counsel so selected;
provided, however, that, if the defendants in any such action include both the
indemnified party and the indemnifying party and the indemnified party shall
have reasonably concluded that there may be reasonable defenses available to it
which are different from or additional to those available to the indemnifying
party, or if the interests of the indemnified party reasonably may be deemed to
conflict with the interests of the indemnifying party, the indemnified party
shall have the right to select a separate counsel and to assume such legal
defenses and otherwise to participate in the defense of such action, with the
expenses and fees of such separate counsel and other expenses related to such
participation to be reimbursed by the indemnifying party as incurred.

      Notwithstanding the foregoing, any indemnified party shall have the right
to retain its own counsel in any such action, but the fees and disbursements of
such counsel shall be at the expense of such indemnified party unless (i) the
indemnifying party shall have failed to retain counsel for the indemnified
person as aforesaid or (ii) the indemnifying party and such indemnified party
shall have mutually agreed to the retention of such counsel. It is understood
that the indemnifying party shall not, in connection with any action or related
actions in the same jurisdiction, be liable for the fees and disbursements of
more than one separate firm qualified in such jurisdiction to act as counsel for
the indemnified party. The indemnifying party shall not be liable for any
settlement of any proceeding effected without its written consent, but if
settled with such consent or if there be a final judgment for the plaintiff, the
indemnifying party agrees to indemnify the indemnified party from and against
any loss or liability by reason of such settlement or judgment.

      If the indemnification provided for in the first two paragraphs of this
Section 9 is unavailable or insufficient to hold harmless an indemnified party
under such paragraphs in respect of any losses, claims, damages or liabilities
or actions in respect thereof referred to therein, then each indemnifying party
shall in lieu of indemnifying such indemnified party contribute to the amount
paid or payable by such indemnified party as a result of such losses, claims,
damages, liabilities or actions in such proportion as appropriate to reflect the
relative fault of the Company, on the one hand, and the underwriters and the
sellers of such Restricted Stock on the other, in connection with the statements
or omissions which resulted in such losses, claims, damages, liabilities or
actions as well as any other relevant equitable considerations, including the
failure to give any notice under the third paragraph of this Section 9. The
relative fault shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact relates to information
supplied by the Company, on the one hand, or the underwriters and the sellers of
such Restricted Stock on the other, and to the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Company and each of you agree that it would not be
just and equitable if contributions pursuant to this paragraph were determined
by pro rata allocation (even if all of the sellers of such Restricted Stock were
treated as one entity for such purpose) or by any other method of allocation
which did not take account of the equitable considerations referred to above in
this paragraph. The amount paid or payable by an indemnified party as a result

                                       10
<PAGE>

of the losses, claims, damages, liabilities or action in respect thereof,
referred to above in this paragraph, shall be deemed to include any legal or
other expenses reasonably incurred by such indemnified party in connection with
investigating or defending any such action or claim. Notwithstanding the
provisions of this paragraph, the sellers of such Restricted Stock shall not be
required to contribute any amount in excess of the amount, if any, by which the
total price at which the Common Stock sold by each of them was offered to the
public exceeds the amount of any damages which they would have otherwise been
required to pay by reason of such untrue or alleged untrue statement or
omission. No person guilty of fraudulent misrepresentations (within the meaning
of Section 11(f) of the Securities Act), shall be entitled to contribution from
any person who is not guilty of such fraudulent misrepresentation.

      The indemnification of underwriters provided for in this Section 9 shall
be on such other terms and conditions as are at the time customary and
reasonably required by such underwriters. In that event the indemnification of
the sellers of Restricted Stock in such underwriting shall at the sellers'
request be modified to conform to such terms and conditions.

            10.   Changes in Common Stock. If, and as often as, there are any
                  changes in the Common Stock by way of stock split, stock
                  dividend, combination or reclassification, or through merger,
                  consolidation, reorganization or recapitalization, or by any
                  other means, appropriate adjustment shall be made in the
                  provisions hereof, as may be required, so that the rights and
                  privileges granted hereby shall continue with respect to the
                  Common Stock as so changed.

            11.   Representations and Warranties of the Company. The Company
                  represents and warrants to you as follows:

                  (a)   The execution, delivery and performance of this
                        Agreement by the Company have been duly authorized by
                        all requisite corporate action and will not violate any
                        provision of law, any order of any court or other agency
                        of government, the Certificate of Incorporation or
                        By-laws of the Company, or any provision of any
                        indenture, agreement or other instrument to which it or
                        any of its properties or assets is bound, or conflict
                        with, result in a breach of or constitute (with due
                        notice or lapse of time or both) a default under any
                        such indenture, agreement or other instrument, or result
                        in the creation or imposition of any lien, charge or
                        encumbrance of any nature whatsoever upon any of the
                        properties or assets of the Company.

                                       11
<PAGE>

                  (b)   This Agreement has been duly executed and delivered by
                        the Company and constitutes the legal, valid and binding
                        obligation of the Company, enforceable in accordance
                        with its terms, subject to considerations of public
                        policy in the case of the indemnification provisions
                        hereof.

            12.   Rule 144 Reporting. The Company agrees with you as follows:

                  (a)   The Company shall make and keep public information
                        available, as those terms are understood and defined in
                        Rule 144 under the Securities Act, at all times from and
                        after the date it is first required to do so.

                  (b)   The Company shall file with the Commission in a timely
                        manner all reports and other documents as the Commission
                        may prescribe under Section 13(a) or 15(d) of the
                        Exchange Act at any time after the Company has become
                        subject to such reporting requirements of the Exchange
                        Act.

                  (c)   The Company shall furnish to such holder of Restricted
                        Stock forthwith upon request (i) a written statement by
                        the Company as to its compliance with the reporting
                        requirements of Rule 144 (at any time from and after the
                        date it first becomes subject to such reporting
                        require-ments, and of the Securities Act and the
                        Exchange Act (at any time after it has become subject to
                        such reporting requirements), (ii) a copy of the most
                        recent annual or quarterly report of the Company, and
                        (iii) such other reports and documents so filed as a
                        holder may reasonably request to avail itself of any
                        rule or regulation of the Commission allowing a holder
                        of Restricted Stock to sell any such securities without
                        registration.

            13.   Miscellaneous.

                  (a)   All covenants and agreements contained in this Agreement
                        by or on behalf of any of the parties hereto shall bind
                        and inure to the benefit of the respective successors
                        and assigns of the parties hereto whether so expressed
                        or not. Without limiting the generality of the
                        foregoing, the registration rights conferred herein on
                        the holders of Restricted Stock shall inure to the
                        benefit of any and all subsequent holders from time to
                        time of the Restricted Stock for so long as the
                        certificates representing the Restricted Stock shall be
                        required to bear the legend specified in Section 2
                        hereof.

                                       12
<PAGE>

                  (b)   All notices, requests, consents and other communications
                        hereunder shall be in writing and shall be mailed by
                        first class registered mail, postage prepaid, addressed
                        as follows:

      if to the Company, to it

      c/o Welsh, Carson, Anderson & Stowe
      One World Financial Center
      New York, New York 10281
      Attention:  Robert A. Minicucci;

      if to any holder of Restricted Stock, at their addresses as set forth in
Annex I hereto;

      if to any subsequent holder of Restricted Stock to it at such address as
may have been furnished to the Company in writing by such holder;

or, in any case, at such other address or addresses as shall have been furnished
in writing to the Company (in the case of a holder of Restricted Stock) or to
the holders of Restricted Stock (in the case of the Company).

                  (c)   This Agreement shall be governed by and construed in
                        accordance with the laws of the State of New York.

                  (d)   This Agreement constitutes the entire agreement of the
                        parties with respect to the subject matter hereof and
                        may not be modified or amended except in writing signed
                        by the Company and the holders of not less than 66 2/3%
                        of the Restricted Stock then outstanding provided that
                        no such modification or amendment shall deprive any
                        holder of Restricted Stock of any material right under
                        this Agreement without such holder's consent. The
                        Company will not grant any registration rights to any
                        other person without your consent.

                  (e)   This Agreement may be executed in two or more
                        counterparts, each of which shall be deemed an original,
                        but all of which together shall constitute one and the
                        same instrument.

                                       13
<PAGE>

      Please indicate your acceptance of the foregoing by signing and returning
the enclosed counterpart of this letter, whereupon this letter (herein sometimes
called "this Agreement") shall be a binding agreement between the Company and
you.

                                                     Very truly yours,

                                                     GKN HOLDINGS, INC.

                                                     By /s/ ROBERT A. MINICUCCI
                                                        _______________________
                                                               President
AGREED TO AND ACCEPTED as of the date first above written.

WELSH, CARSON, ANDERSON & STOWE VII, L.P.
By WCAS VII Partners, L.P.,
   General Partner

By    /s/ LAURA VANBUREN
   _____________________________
         General Partner

WCAS INFORMATION PARTNERS, L.P.
By WCAS Info Partners,
   General Partner

By    /s/ PATRICK J. WELSH
   _____________________________
         General Partner

      /s/ PATRICK J. WELSH
________________________________
         Patrick J. Welsh

                                       14
<PAGE>

       /s/ RUSSELL L. CARSON
________________________________
         Russell L. Carson

       /s/ BRUCE K. ANDERSON
________________________________
         Bruce K. Anderson

       /s/ RICHARD H. STOWE
________________________________
         Richard H. Stowe

       /s/ ANDREW M. PAUL
________________________________
         Andrew M. Paul

     /s/ THOMAS E. MCINERNEY
________________________________
       Thomas E. McInerney

       /s/ LAURA VANBUREN
________________________________
         Laura VanBuren

       /s/ JAMES B. HOOVER
________________________________
         James B. Hoover

      /s/ ROBERT A. MINICUCCI
________________________________
        Robert A. Minicucci

    /s/ ANTHONY J. DE NICOLA
________________________________
      Anthony J. de Nicola

DLJSC AS CUSTODIAN
  FOR DAVID F. BELLET

By: /s/ BELINDA FAULKNER
    ______________________________

                                       15
<PAGE>

                                     ANNEX I

Purchaser

WELSH, CARSON, ANDERSON & STOWE VII, L.P.
One World Financial Center
200 Liberty Street, Suite 3601
New York, NY  10281

WCAS INFORMATION PARTNERS, L.P.
One World Financial Center
200 Liberty Street, Suite 3601
New York, NY  10281

Patrick J. Welsh
Russell L. Carson
Bruce K. Anderson
Richard H. Stowe
Andrew M. Paul
Thomas E. McInerney
Laura VanBuren
James B. Hoover
Robert A. Minicucci
Anthony J. de Nicola
  In care of WCA Management
    Corporation
One World Financial Center
200 Liberty Street, Suite 3601
New York, NY  10281

DLJSC as Custodian for David F. Bellet
  In care of Crown Advisors Ltd.
60 East 42nd Street, Ste. 3405
New York, NY  10165

                                       16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00015-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00015-of-00352.parquet"}]]