Document:

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                                                                    EXHIBIT 10.6

                    REDEMPTION AND NON-COMPETITION AGREEMENT

                                      AMONG

                               PwC CONSULTING SCA

                                  PwCC LIMITED,

                       THE MEMBER FIRM(S) SIGNATORY HERETO

                                       and

                      THE COVERED PERSONS SIGNATORY HERETO

                           Dated as of April 30, 2002

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                                Table of Contents

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                                                                                             Page

                                    ARTICLE 1
                          DEFINITIONS AND OTHER MATTERS

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Section 1.01.  Definitions......................................................................2
Section 1.02.  Gender...........................................................................6

                                    ARTICLE 2
     RECEIPT OF COMMON SHARES (AND CLASS X RIGHTS) OR CLASS A COMMON SHARES

Section 2.01.  Agreement to Take All Necessary Actions..........................................6
Section 2.02.  Covered Persons who Are Redeeming or Terminating Their Interests.................6
Section 2.03.  Covered Persons who Are Currently Employees (or who Have Other
                 Contractual Arrangements) .....................................................6
Section 2.04.  Covered Persons who Are Transferring Their Interests.............................7
Section 2.05.  Condition to Receipt of Shares...................................................7
Section 2.06.  Delivery of Certificates.........................................................8
Section 2.07.  Dividends and Distributions......................................................8
Section 2.08.  Retirement and Other Benefits....................................................9
Section 2.09.  Waiver of Restrictions...........................................................9
Section 2.10.  Amendment of Member Firm Documents...............................................9
Section 2.11.  Indemnification..................................................................9

                                    ARTICLE 3
                            NON-COMPETITION AGREEMENT

Section 3.01.  Non-Competition Covenants........................................................9
Section 3.02.  Remedies Upon Breach............................................................11

                                    ARTICLE 4
                                  MISCELLANEOUS

Section 4.01.  Governing Law...................................................................12
Section 4.02.  Resolution of Disputes..........................................................13
Section 4.03.  Amendment; Waiver...............................................................14
Section 4.04.  Notice..........................................................................15
Section 4.05.  Severability....................................................................16
Section 4.06.  Local Annexes...................................................................16
Section 4.07.  Amendments to Effect Reorganization.............................................17
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Section 4.08.  Section Headings................................................................17
Section 4.09.  Entire Agreement................................................................17
Section 4.10.  Further Assurances..............................................................17
Section 4.11.  Execution In Counterparts.......................................................17

Appendix A-1         -         Covered Persons (Redemption or Termination)
Appendix A-2         -         Covered Persons (Section 2.03 Covered Persons)
Appendix A-3         -         Covered Persons (Section 2.04 Covered Persons)
Appendix B           -         Competitive Enterprises
Appendix C-1         -         Form of Pledge Agreement (BermudaCo)
Appendix C-2         -         Form of Pledge Agreement (Luxco)

Exhibit I            -         Form of Joinder Agreement
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         This Redemption and Non-Competition Agreement, dated as of April 30,
2002 (as amended from time to time, and including any Local Annex, this
"AGREEMENT"), among PwC Consulting SCA, a Luxembourg partnership limited by
shares (societe en commandite par actions) ("LUXCO"), PwCC Limited, a Bermuda
holding company ("BERMUDACO"), the Member Firm(s) (as defined below) and the
Covered Persons (as defined below).

                                R E C I T A L S:

         In connection with the worldwide reorganization of the business and
operations of the entities and businesses comprising PricewaterhouseCoopers
Consulting ("PWC CONSULTING") into a unified holding company structure with
BermudaCo as the top-tier holding company and Luxco as the second-tier holding
company (the "TRANSACTION"), each Covered Person will (i) redeem or terminate
his ownership or membership interests in and withdraw as a partner from his
Member Firm(s), (ii) voluntarily enter into a new or different employment
relationship (or partnership, ownership or membership arrangement) with his
Member Firm(s) or BermudaCo or its affiliates or (iii) relinquish his membership
interests in his Member Firm(s), directly or indirectly, to Luxco or BermudaCo,
in each case as part of the Transaction involving the transfer to such Covered
Person of shares of Luxco or BermudaCo, as the case may be (including,
Exchangeable Shares (as defined in the Voting Agreement) which, for purposes of
this Agreement, shall be treated as shares of BermudaCo).

         Each Covered Person acknowledges and agrees that, in connection with
and as a result of the Transaction, such Covered Person will receive shares of
Luxco or BermudaCo, as the case may be, which will materially benefit the
Covered Person.

         Each Covered Person acknowledges and agrees that it is essential to the
success of the initial public offering by BermudaCo of its Class A Common Shares
and the enterprise in the future, and it will be so represented in connection
with such initial public offering, that the Consulting Business being
transferred to Luxco or BermudaCo, as the case may be, in connection with the
Transaction be protected by non-competition and related protective or
restrictive agreements.

         Each Covered Person acknowledges and agrees that in connection with the
Transaction, and in the course of such Covered Person's subsequent direct or
indirect engagement with, membership of or employment with his Member Firm(s) or
BermudaCo or its affiliates, the Covered Person has been and will be provided
with access to sensitive and proprietary information about the clients,
prospective clients, knowledge capital and business practices of BermudaCo or
its affiliates, and has been and will be provided with the opportunity to
develop relationships with clients, prospective clients, consultants, employees,
representatives and other agents of BermudaCo or its affiliates, and each
Covered

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Person further acknowledges that such proprietary information and relationships
are extremely valuable assets in which BermudaCo or its affiliates or any of
their predecessors (including, without limitation, his Member Firm(s) and their
affiliates) have invested and will continue to invest substantial time, effort
and expense and which represent a significant component of the value of the
Transaction to the other owners of BermudaCo and the owners of Luxco and of the
goodwill and other intangible assets of PwC Consulting.

         Each Covered Person acknowledges and agrees that Luxco, BermudaCo and
their respective shareholders would suffer significant and irreparable harm from
such Covered Person competing with BermudaCo and its affiliates for a period of
time after the Transaction or after the termination of the Covered Person's
engagement with, membership of or employment with BermudaCo and its affiliates.

         Each Covered Person agrees that he is willing to enter into this
Agreement on the basis of, and in consideration of, all or substantially all of
the other Covered Persons entering into this Agreement or similar agreements.

         It is a condition precedent to each Covered Person participating in the
Transaction and thereby benefiting from the value of BermudaCo and its
affiliates that such Covered Person agree to be bound by the covenants contained
in this Agreement.

         Accordingly, the parties agree to the following restrictions, which
each Covered Person acknowledges and agrees are reasonable and necessary for
Luxco and BermudaCo and for the other shareholders of Luxco and BermudaCo to
have and enjoy the full benefit of the business interests acquired in connection
with the Transaction and which will not unnecessarily or unreasonably restrict
the Covered Person's professional opportunities should his employment with
BermudaCo and its affiliates terminate:

                                   Article 1
                          Definitions And Other Matters

         Section 1.01. Definitions. The following words and phrases used in
this Agreement shall have the following meanings, except as otherwise expressly
provided or unless context otherwise requires:

         (a) This "AGREEMENT" shall have the meaning ascribed to such term in
the preamble.

         (b) "BERMUDACO" shall have the meaning ascribed to such term in the
preamble.

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         (c) "CAUSE", with respect to a Covered Person, (i) shall have the
definition ascribed to such term in his Employment Agreement or (ii) if not
defined in such agreement, or if there shall be no such agreement, shall have
the meaning ascribed to such term under applicable law.

         (d) "CLASS A COMMON SHARES" shall mean the Class A Common Shares of
BermudaCo.

         (e) "CLASS X COMMON SHARES" shall mean the Class X Common Shares of
BermudaCo.

         (f) "CLASS X RIGHT" shall mean a right to acquire one Class X Common
Share, to be exercisable at the election of the Covered Person holding such
right.

         (g) "CLIENT" shall mean any person whatsoever for whom BermudaCo or its
affiliates or any of their predecessors (including, without limitation, members
firms of PwC and their affiliates) provided services in the Consulting Business
within the 12-month period before or after the date on which the Covered
Person's engagement with, membership of or employment with BermudaCo and its
affiliates terminated.

         (h) "COMMON SHARES" shall mean the Class I Common Shares of Luxco.

         (i) "COMPETITIVE ENTERPRISE" shall mean a business enterprise that
engages in, or owns or controls a significant interest in any entity that
engages in, competition with the Consulting Business. A "COMPETITIVE ENTERPRISE"
shall include, without limitation, the entities set forth on Appendix B.
BermudaCo may publish to the Covered Persons from time to time a revised
Appendix B.

         (j) "CONSULTING BUSINESS" shall have the definition ascribed to such
term in the Rollup Agreement.

         (k) "COVERED PERSONS" (each, a "COVERED PERSON") shall mean those
persons, other than Luxco, BermudaCo and the Member Firms, who are from time to
time parties to this Agreement and whose names are, or are required to be,
listed on Appendix A, in each case in accordance with the terms of this
Agreement.

         (l) "EFFECTIVE DATE" shall mean the close of business on the date on
which the closing of a Redemption, Re-Employment or Exchange, as the case may
be, occurs, which shall be determined by the Partners Committee in its sole
discretion.

         (m) "EMPLOYMENT" shall mean employment by and/or engagement with
BermudaCo or its affiliates.

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         (n) "EMPLOYMENT AGREEMENT" shall mean the Employment Agreement, dated
as of April 30, 2002 (as amended from time to time), among BermudaCo or one of
its affiliates and the covered person signatory thereto (or, if applicable, the
consultancy agreement or other agreement under which a Covered Person directly
or indirectly agrees to provide services to BermudaCo and its affiliates).

         (o) "EXCHANGE" shall have the meaning ascribed to such term in Section
2.04.

         (p) "EXCHANGE ACT" shall mean the United States Securities Exchange Act
of 1934, as amended from time to time.

         (q) A reference to an "EXCHANGE ACT RULE" shall mean such rule or
regulation of the United States Securities and Exchange Commission under the
Exchange Act, as in effect from time to time or as replaced by a successor rule.

         (r) "IPO" shall mean the initial public offering of the Class A Common
Shares.

         (s) "LIQUIDATED DAMAGES" shall have the meaning ascribed to such term
in this Agreement.

         (t) "LOCAL ANNEX" shall have the meaning ascribed to such term in
Section 4.06.

         (u) "LUXCO" shall have the meaning ascribed to such term in the
preamble.

         (v) "MEMBER FIRMS" (each, a "MEMBER FIRM") shall mean the entities
comprising part of the PwCI global network that are party to this Agreement.

         (w) "PARTNERS COMMITTEE" shall have the meaning ascribed to such term
in the Transfer Rights Agreement.

         (x) "PERSON" shall include, as applicable, any individual, estate,
trust, corporation, partnership (with limited or unlimited liability), limited
liability company, unlimited liability company, foundation, association or other
entity.

         (y) "PERSON" shall mean a "person", as such term is used for purposes
of Section 13(d) or 14(d) of the Exchange Act.

         (z) "PLEDGE AGREEMENT" shall mean a pledge agreement dated as of the
date of this Agreement, a form of which is attached as Appendix C.

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         (aa) "PROSPECTIVE CLIENT" shall mean any person whatsoever with whom
BermudaCo or its affiliates or any of their predecessors (including, without
limitation, members firms of PwC and their affiliates) have had any negotiations
or discussions regarding the possible performance of services in the Consulting
Business within the 12-month period preceding the Covered Person's termination
of engagement with, membership of or employment with BermudaCo and its
affiliates.

         (bb) "PWC" shall mean the PricewaterhouseCoopers network of firms.

         (cc) "PWC CONSULTING" shall have the meaning ascribed to such term in
the recitals.

         (dd) "REDEMPTION" shall have the meaning ascribed to such term in
Section 2.02.

         (ee) "RE-EMPLOYMENT" shall have the meaning ascribed to such term in
Section 2.03.

         (ff) "RESTRICTED PERIOD" shall have the meaning ascribed to such term
in Section 3.01.

         (gg) "ROLLUP AGREEMENT" shall mean the Rollup Agreement, dated as April
11, 2002 (as amended from time to time), among the parties thereto.

         (hh) "SECTION 2.03 COVERED PERSON" shall have the meaning ascribed to
such term in Section 2.03.

         (ii) "SECTION 2.04 COVERED PERSON" shall have the meaning ascribed to
such term in Section 2.04.

         (jj) "SECURITIES ACT" shall mean the United States Securities Act of
1933, as amended to date and as further amended from time to time.

         (kk) "SOLICIT" shall mean to have any direct or indirect communication
of any kind whatsoever, regardless of by whom initiated, inviting, advising,
encouraging or requesting any person, in any manner, to take or refrain from
taking any action.

         (ll) "TRANSACTION" shall have the meaning ascribed to such term in the
recitals.

         (mm) "TRANSFER RIGHTS AGREEMENT" shall mean the Transfer Rights
Agreement, dated as of April 30, 2002 (as amended from time to time), among
Luxco and the covered persons signatory thereto.

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         (nn) "VOTING AGREEMENT" shall mean the Voting Agreement, dated as of
April 30, 2002 (as amended from time to time), among BermudaCo and the covered
persons signatory thereto.

         Section 1.02. Gender. For the purposes of this Agreement, the words
"he," "his" or "him" shall be interpreted to include the masculine, feminine and
corporate, other entity or trust form.

                                   Article 2
     RECEIPT OF COMMON SHARES (AND CLASS X RIGHTS) OR CLASS A COMMON SHARES

         Section 2.01. Agreement to Take All Necessary Actions. Each Covered
Person agrees that he shall take any and all actions necessary to complete the
Redemption, Re-Employment or Exchange, as the case may be, including any actions
set forth in this Article 2.

         Section 2.02. Covered Persons who Are Redeeming or Terminating Their
Interests. Each Covered Person agrees that, as of the Effective Date, without
any further action on the part of the Covered Person, the Member Firms,
BermudaCo or Luxco, the membership interests in his Member Firms(s) held by the
Covered Person immediately prior to the Effective Date shall be transferred to
the Covered Person's Member Firm(s) and redeemed or terminated solely in
exchange for such number of Common Shares (and Class X Rights) or Class A Common
Shares, as the case may be, as determined in accordance with the methodology
adopted by such Covered Person's Member Firm(s), as illustrated by his Partner
Personalized Statement and applicable local Partner Information Memorandum, if
any (such transfer and redemption, a "REDEMPTION") and such Covered Person shall
voluntarily withdraw from such Member Firm(s) and shall waive any and all claims
related to, or arising from, such withdrawal (in which connection he and his
Member Firm(s) shall execute a standard withdrawal agreement in the form
provided to him and to the extent not inconsistent with the terms of this
Agreement, if so requested by his Member Firm(s)). Upon such Redemption, each
Covered Person shall cease to have any ongoing rights with respect to his
ownership interests in his Member Firm(s) with effect from the Effective Date,
except the right to receive such Common Shares (and Class X Rights) or Class A
Common Shares.

         Section 2.03. Covered Persons who Are Currently Employees (or who Have
Other Contractual Arrangements). Notwithstanding the foregoing, the Covered
Persons designated as such on Appendix A (each a "SECTION 2.03 COVERED PERSON")
shall not be subject to Section 2.02 and shall instead be subject to this
Section 2.03. On the Effective Date, each Section 2.03 Covered Person shall
voluntarily terminate his existing employment contract or contract for

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services with his Member Firm(s) and shall waive any and all claims related to,
or arising from, such termination (or, as applicable, shall enter into a
different employment arrangement with his Member Firm(s) and shall waive any and
all claims related to, or arising from, any former arrangement), except for the
payment or provision of emoluments and other benefits or rights in respect of
any period prior to the Effective Time, in which connection, he shall execute a
standard waiver and release agreement in the form provided to him and to the
extent not inconsistent with the terms of this Agreement, if so requested by his
Member Firm(s). In consideration of such termination (or different arrangement)
and waiver, BermudaCo or one of its affiliates shall immediately employ such
Section 2.03 Covered Person pursuant to an Employment Agreement and such Section
2.03 Covered Person shall be entitled to receive from the Member Firm(s) such
number of Common Shares (and Class X Rights) or Class A Common Shares, as the
case may be, as determined in accordance with the methodology adopted by such
Section 2.03 Covered Person's Member Firm(s), as illustrated by his Partner
Personalized Statement and applicable local Partner Information Memorandum, if
any (such termination, waiver and employment, a "RE-EMPLOYMENT").

         Section 2.04. Covered Persons who Are Transferring Their Interests.
Notwithstanding the foregoing, the Covered Persons designated as such on
Appendix A (each a "SECTION 2.04 COVERED PERSON") shall not be subject to
Section 2.02 and shall instead be subject to this Section 2.04. On the Effective
Date, each Section 2.04 Covered Person shall transfer directly or indirectly to
Luxco or BermudaCo, as the case may be, the membership interests in his Member
Firms(s) held by the Section 2.04 Covered Person immediately prior to the
Effective Date solely in exchange for the number of Common Shares (and Class X
Rights) or Class A Common Shares, as the case may be, as determined in
accordance with the methodology adopted by Member Firm(s), as illustrated by his
Partner Personalized Statement and applicable local Partner Information
Memorandum, if any (such transfer and exchange, an "EXCHANGE") and such Section
2.04 Covered Person shall voluntarily withdraw from such Member Firms(s) and
shall waive any and all claims related to, or arising from, such withdrawal (in
which connection he and his Member Firm(s) shall execute a standard withdrawal
agreement in the form provided to him and to the extent not inconsistent with
the terms of this Agreement, if so requested by his Member Firm(s)). Upon such
Exchange, each Section 2.04 Covered Person shall cease to have any ongoing
rights with respect to his ownership interests in his Member Firm(s) with effect
from the Effective Date, except the right to receive such Common Shares (and
Class X Rights) or Class A Common Shares.

         Section 2.05. Condition to Receipt of Shares. As a condition to the
receipt of any Common Shares (and Class X Rights) or Class A Common Shares by a
Covered Person pursuant to a Redemption, Re-Employment or Exchange, as the case
may be, he shall have entered into the Voting Agreement, the Transfer

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Rights Agreement (to the extent such Covered Person receives any Common Shares),
an Employment Agreement, and, if so requested by his Member Firm(s), either a
withdrawal agreement (in the case of a Redemption or Exchange) or a waiver and
release agreement (in the case of a Re-Employment). In addition, by receipt of
any such Common Shares (and Class X Rights) or Class A Common Shares, he:

         (a) acknowledges that such Common Shares (and Class X Rights, as well
as the Class X Common Shares underlying such rights) or Class A Common Shares
have not been registered under the Securities Act or any securities laws and
that such Common Shares (and Class X Rights, as well as the Class X Common
Shares underlying such rights) or Class A Common Shares may not be offered or
sold other than under a registration statement under the Securities Act or
pursuant to an applicable exemption from the Securities Act; and

         (b) represents and warrants that he is (i) [an "accredited investor" as
defined in Regulation D promulgated under the Securities Act or an investor] OR
[an investor] with sufficient knowledge and experience in financial and business
matters so as to be capable of evaluating the merits and risks of his investment
in such Common Shares (and Class X Rights, as well as the Class X Common Shares
underlying such rights) or Class A Common Shares or (ii) not a "U.S. person" (as
defined in Regulation S) and that he is receiving such shares in an offshore
transaction pursuant to Regulation S, and acknowledges that he has delivered a
certificate with respect to such matters.

         Section 2.06. Delivery of Certificates. As soon as reasonably
practicable after the Redemption or Re-Employment or Exchange, as the case may
be, and subject to the terms of any other applicable agreement between the
Covered Person and BermudaCo or its affiliates, the Member Firm(s) (or, in the
case of an Exchange, Luxco or BermudaCo) shall deliver or cause to be delivered
to each Covered Person one or more certificates representing the aggregate
number of Common Shares (and, upon exercise of Class X Rights, Class X Common
Shares) or Class A Common Shares, as the case may be, deliverable pursuant to
Sections 2.02, 2.03 or 2.04 (or registered in the name of a nominee for such
Covered Person and/or held in the custody of a custodian pursuant to Section
2.04 of the Transfer Rights Agreement or Section 2.05 of the Voting Agreement).
Any share certificate representing such Common Shares (and such Class X Common
Shares) or Class A Common Shares may bear a legend as described in Section 2.04
of the Transfer Rights Agreement or Section 2.05 of the Voting Agreement.

         Section 2.07. Dividends and Distributions. Each Covered Person shall
be deemed a holder of record of Common Shares (and, upon exercise of Class X
Rights, Class X Common Shares) or Class A Common Shares, as the case may be, as
of the Effective Date for purposes of any dividend or other distribution paid in
respect of Luxco or BermudaCo, respectively, to holders of record, or the

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solicitation of any votes or consents, on or after the date of the Redemption,
Re-Employment or Exchange.

         Section 2.08. Retirement and Other Benefits. The Member Firm(s) shall
comply with their respective obligations under Section 7.12 and Section 7.16 of
the Rollup Agreement and any provision of the Local Structure Term Sheet
implementing such sections.

         Section 2.09. Waiver of Restrictions. Subject to the conditions
provided for in this Agreement (including, without limitation, a Covered
Person's execution of any withdrawal agreement or a waiver and release agreement
described in Article 2 at the request of his Member Firm(s)), each Member Firm
hereby waives any notice, non-competition, non-solicitation or other protective
or restrictive covenants imposed on a Covered Person as a result of his
execution and delivery of this Agreement and resulting withdrawal or other
departure from or termination by his Member Firm(s) (to the extent such
protections or restrictions would restrict his ability to engage in the
Consulting Business or any other business of PwC Consulting); provided that if a
Covered Person has terminated his employment with BermudaCo and its affiliates
and in connection with such termination, the Partners Committee has not waived
the non-competition and non-solicitation covenants in Section 3.01, then the
Member Firm(s)'s waiver contained in this Section 2.09 shall be null and void,
effective as of such termination..

         Section 2.10. Amendment of Member Firm Documents. Each Covered Person
consents and agrees to vote in favor of any amendment to his Member Firm's
organizational or constitutive document(s) to effect the terms of the Rollup
Agreement and this Agreement.

         Section 2.11. Indemnification. The provisions of Article XI of the
Rollup Agreement shall inure to the benefit of each Covered Person to the extent
stated therein.

                                   Article 3
                            NON-COMPETITION AGREEMENT

         Section 3.01. Non-Competition Covenants. (a) In order to maximize and
protect the value of the goodwill, proprietary information and relationships and
other intangible assets of the business being transferred by the Member Firm(s)
to (as applicable) BermudaCo or Luxco (or, in the case of Exchanges under
Section 2.04, in order to maximize the value of such assets of the Member Firm
being transferred) and in connection with the issuance of Common Shares (and
Class X Rights) or Class A Common Shares, as the case may be, by Luxco or
BermudaCo, respectively, in the Transaction, a portion of which are to be
received by Covered

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Persons pursuant to Redemptions, Re-Employments or Exchanges, as the case may
be, and a portion of which are to be retained by the Member Firm (or, in the
case of Exchanges under Section 2.04, by shareholders of such Firm who are not
Covered Persons), each Covered Person agrees that he shall not, for a period
ending on the later of 3 years following the Effective Date or 12 months
following the termination of such Covered Person's employment with BermudaCo and
its affiliates (the "RESTRICTED PERIOD"):

                  (i) associate (including, without limitation, association as a
         sole proprietor, owner, employer, director, partner, principal,
         investor, joint venturer, shareholder, associate, employee, member,
         consultant, contractor or otherwise) with any Competitive Enterprise or
         any of the affiliates, related entities, successors or assigns of any
         Competitive Enterprise or in connection with such association engage in
         competition with the Consulting Business; provided, however, that with
         respect to the equity of any Competitive Enterprise that is or becomes
         publicly traded, such Covered Person's ownership as a passive investor
         of less than 1% of the outstanding publicly traded stock of a
         Competitive Enterprise shall not be deemed a violation of Section
         3.01(a)(i) of this Agreement;

                  (ii) directly or indirectly (A) solicit, or assist any other
         person in soliciting, any Client or Prospective Client for the purpose
         of seeking an engagement to perform or provide any services in
         competition with the Consulting Business to such Client or Prospective
         Client; (B) perform or provide, or assist any other person in
         performing or providing, services in competition with the Consulting
         Business for any Client or Prospective Client; or (C) interfere with or
         damage (or attempt to interfere with or damage) any relationship and/or
         agreement between BermudaCo or its affiliates or this member Firm(s) or
         any of their predecessors and their affiliates and a Client or
         Prospective Client; or

                  (iii) directly or indirectly, solicit, hire, employ, engage or
         retain (or assist any other person in soliciting, hiring, employing,
         engaging or retaining) any employee or representative or other agent of
         BermudaCo or its affiliates, including, without limitation, any former
         employee or representative or other agent of BermudaCo or its
         affiliates or any of their predecessors (including, without limitation,
         PwC Consulting and its affiliates) who ceased working for BermudaCo and
         its affiliates or any of their predecessors (or any of their
         predecessors) within the 12-month period before or after the date on
         which such Covered Person's employment with BermudaCo or its affiliates
         terminated, in connection with or for the purpose of bringing about a
         termination of an existing employment or service relationship (or, in
         the case of former employees or representatives and/or other agents,
         seeking to engage such persons to perform or provide services in
         competition with the Consulting Business).

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         (b) Each Covered Person acknowledges that the Covered Person's
covenants under this Article 3 are a condition precedent to the delivery of
Common Shares (and Class X Rights) or Class A Common Shares, as the case may be,
under Article 2 and such Common Shares (and Class X Rights) or Class A Common
Shares would not have been delivered in the absence of such Covered Person's
covenants. In addition, in light of each Covered Person's education, skills,
abilities and financial resources, each Covered Person agrees that he will not
assert, and it should not be considered, that any provisions of this Article 3
prevent such Covered Person from earning a living or otherwise are void,
voidable or unenforceable or should be voided or held unenforceable.

         (c) The Partners Committee is authorized to waive any or all of the
foregoing restrictions, or any portion thereof; provided, however, that the
Partners Committee must first obtain the written consent to such waiver of the
Chief Executive Officer of BermudaCo (or his designee), who may grant or
withhold such consent in his sole and absolute discretion. Upon any such waiver
by the Partners Committee in connection with a Covered Person, the Member
Firm(s) of such Covered Person shall waive any remaining notice,
non-competition, non-solicitation or other protective or restrictive covenants
applicable to him; provided that BermudaCo or an affiliate provides such Member
Firm(s) with notice of such waiver within 15 days, in which case the waiver by
the Member Firm(s) shall be effective as of the effective date of the waiver by
the Partners Committee.

         Section 3.02. Remedies Upon Breach. (a) Damages.

                  (i) Each Covered Person agrees that if he were to breach any
         provision of this Article 3, Luxco and BermudaCo would suffer damages
         that are not readily ascertainable. Accordingly, in addition to and
         without limiting any remedies in law or in equity that may be available
         to Luxco and BermudaCo for the breach of this Article 3, including,
         without limitation, injunctive and other equitable relief, each Covered
         Person agrees that in the event of a breach of this Article 3 by such
         Covered Person prior to the third anniversary of the Effective Date, as
         reasonably determined by the Partners Committee, such Covered Person
         shall pay to BermudaCo (or a designated affiliate) immediately
         following such determination and a written demand therefor, a cash
         payment in an amount equal to such Covered Person's aggregate cash
         compensation paid by BermudaCo or its affiliates (and, where
         applicable, their predecessors) in such Covered Person's last full year
         of employment with BermudaCo and its affiliates (or, where applicable,
         employment or service with PwC) (or such lesser amount as may be
         designated by the Partners Committee in its sole and absolute
         discretion), as and for liquidated damages ("LIQUIDATED Damages"). Each

                                       11

<PAGE>

         Covered Person acknowledges and agrees that the payment required by
         this Section 3.02 is a reasonable forecast of the damages likely to
         result from such breach and is not a penalty of any kind.
         Notwithstanding the foregoing, a Covered Person's covenant to pay
         Liquidated Damages shall terminate upon his termination of employment
         without Cause by BermudaCo and its affiliates; provided, however, that
         in the avoidance of doubt, all other covenants contained in Article 3,
         including those in Section 3.01, and any other relief available to
         Luxco and BermudaCo for breach of this Article 3 shall not terminate at
         such time.

                  (ii) Each Covered Person agrees that the Liquidated Damages
         shall be secured by the Shares received by such Covered Person pursuant
         to Article 2, pursuant to a Pledge Agreement, which is incorporated in
         this Agreement by reference and made a part of this Agreement.

                  (iii) Each Covered Person further agrees that the payment of
         Liquidated Damages shall not be construed as a release or waiver by
         Luxco or BermudaCo of the right to prevent the continuation of any such
         breach of this Article 3 in equity or otherwise and shall not preclude
         or be construed to preclude Luxco or BermudaCo from making a showing of
         irreparable injury or any other element that may be necessary to secure
         injunctive relief.

         (b) Injunctive Relief. Each Covered Person acknowledges and agrees that
Luxco's and BermudaCo's remedy at law for any breach of the covenants contained
in this Article 3 would be inadequate and that for any breach of such covenants,
Luxco and BermudaCo shall, in addition to other remedies as may be available to
it at law or in equity, or as provided for in this Agreement, be entitled to an
injunction, restraining order or other equitable relief, without the necessity
of posting a bond, restraining the Covered Person from committing or continuing
to commit any violation of the covenants. Each Covered Person agrees that proof
shall not be required that monetary damages for breach of the provisions of this
Agreement would be difficult to calculate and that remedies at law would be
inadequate.

                                   Article 4
                                  MISCELLANEOUS

         Section 4.01. Governing Law. This Agreement shall be governed by and
construed and enforced in accordance with the laws of [ ], without regard to
principles of conflicts of laws.

                                       12

<PAGE>

         Section 4.02. Resolution of Disputes. Any and all disputes which
cannot be settled amicably, including any ancillary claims of any party, arising
out of, relating to or in connection with the validity, negotiation, execution,
interpretation, performance or non-performance of this Agreement or the Pledge
Agreement (including the validity, scope and enforceability of this arbitration
provision) shall be finally settled by arbitration conducted in accordance with
the then-existing Rules of Arbitration of the International Chamber of Commerce
before a single arbitrator, subject to the following. The seat of arbitration
shall be England. However, hearings may be held in New York, London or Geneva,
as the party against whom the arbitration is sought shall specify or agree or,
in the absence of such specification or agreement within 15 days of the request
for arbitration, as the arbitrator shall decide. The parties may select an
arbitrator who is a national of the same country as one of the parties. If the
parties to the dispute fail to agree on the selection of an arbitrator within 15
days of the receipt of the request for arbitration, the International Chamber of
Commerce shall make the appointment. The arbitrator shall be a lawyer and shall
conduct the proceedings in the English language.

         Performance under the Agreements shall continue if reasonably possible
during any arbitration proceedings.

         (b) Notwithstanding the provisions of Section 4.02(a), BermudaCo may
bring an action or special proceeding in any court of competent jurisdiction for
the purpose of compelling a Covered Person to arbitrate, seeking temporary or
preliminary relief pending resolution of a dispute between the Parties and/or
enforcing an arbitration award, and, for the purposes of this Section 4.02(b),
each Covered Person (i) expressly consents to the application of Section 4.02(c)
to any such action or proceeding, (ii) agrees that proof shall not be required
that monetary damages for breach of the provisions of the Agreements would be
difficult to calculate and that remedies at law would be inadequate, and (iii)
irrevocably appoints the General Counsel of BermudaCo, PwCC Limited, c/o PwC
Consulting, 1301 Avenue of the Americas, New York, NY 10019 (or, if different,
the then-current principal business address of the duly appointed General
Counsel of BermudaCo) as such Covered Person's agent for service of process in
connection with any such action or proceeding and agrees that service of process
upon such agent, who shall promptly advise such Covered Person of any such
service of process, shall be deemed in every respect effective service of
process upon the Covered Person in any such action or proceeding.

         (c) EACH OF THE PARTIES HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION
OF STATE AND FEDERAL COURTS LOCATED IN THE STATE AND CITY OF NEW YORK, BOROUGH
OF MANHATTAN, UNITED STATES OF AMERICA FOR THE PURPOSE OF ANY JUDICIAL
PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF SECTION 4.02(b), OR ANY
JUDICIAL PROCEEDING

                                       13

<PAGE>

ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR
RELATING TO OR CONCERNING THIS AGREEMENT OR THE PLEDGE AGREEMENT. Such ancillary
judicial proceedings include any suit, action or proceeding to compel
arbitration, to obtain temporary or preliminary judicial relief in aid of
arbitration, or to confirm an arbitration award. The Parties acknowledge that
the fora designated by this Section 4.02(c) have a reasonable relation to this
Agreement and the Pledge Agreement and to the Parties' relationship with one
another.

                  (ii) The Parties hereby waive, to the fullest extent permitted
         by applicable law, any objection which they now or hereafter may have
         to personal jurisdiction or to the laying of venue of any such
         ancillary suit, action or proceeding brought in any court referred to
         in Section 4.02(c)(i), and the Parties agree not to plead or claim the
         same.

         (d) Each Covered Person shall be responsible for all expenses of such
Covered Person incurred in connection with the compliance by such Covered Person
with his obligations under this Agreement, including expenses incurred by Luxco
or BermudaCo in enforcing the provisions of this Agreement relating to such
obligations.

         Section 4.03. Amendment; Waiver. (a) Except as provided for in Section
3.01(c), this Agreement may not be modified, other than by a written agreement
executed by the Covered Person, Luxco and BermudaCo, nor may any provision of
this Agreement be waived other than by a writing executed by Luxco and
BermudaCo.

         (b) The waiver by Luxco and BermudaCo of any particular default by a
Covered Person shall not affect or impair the rights of Luxco and BermudaCo with
respect to any subsequent default of the same or of a different kind by such
Covered Person or a different Covered Person; nor shall any delay or omission by
Luxco or BermudaCo to exercise any right arising from any default by a Covered
Person affect or impair any rights that Luxco or BermudaCo may have with respect
to the same or any future default by such Covered Person or a different Covered
Person.

         (c) Each party hereto understands that from time to time certain other
persons may become Covered Persons by executing and delivering a joinder
agreement in the form of Exhibit I hereto, and certain Covered Persons will
cease to be bound by the provisions of this Agreement pursuant to the terms
hereof. Accordingly, this Agreement may be amended by the Partners Committee
from time to time and without the approval of any other person, but solely for
the purposes of (i) adding to Appendix A such persons as shall be made party to
this Agreement by executing and delivering a joinder agreement and (ii) removing
from Appendix A such persons as shall cease to be bound by the provisions of

                                       14

<PAGE>

this Agreement pursuant to the terms hereof, which additions and removals shall
be given effect from time to time by appropriate changes to Appendix A.

         Section 4.04. Notice. (a) Any communication, demand or notice to be
given under this Agreement will be duly given (and shall be deemed to be
received) when delivered in writing by hand or first class mail or by facsimile
to a party at its address as indicated below:

         If to a Covered Person,

                  c/o PwCC Limited
                  c/o PwC Consulting
                  1301 Avenue of the Americas
                  New York, NY 10019
                  Facsimile: 646-394-6772
                  Attention: General Counsel
                  (or, if different, the then-current principal business address
                  of the duly appointed General Counsel of BermudaCo)

         If to a Member Firm,

                  c/o PricewaterhouseCoopers LLP
                  1301 Avenue of the Americas
                  New York, NY 10019
                  Facsimile: 646-394-6772
                  Attention: General Counsel

         If to BermudaCo,

                  PwCC Limited
                  c/o PwC Consulting
                  1301 Avenue of the Americas
                  New York, NY 10019
                  Facsimile: 646-394-6772
                  Attention: General Counsel
                  (or, if different, the then-current principal business address
                  of the duly appointed General Counsel of BermudaCo)

                                       15

<PAGE>

         If to Luxco,

                  PwC Consulting SCA
                  c/o PwC Consulting
                  1301 Avenue of the Americas
                  New York, NY 10019
                  Facsimile: 646-394-6772
                  Attention: General Counsel
                  (or, if different, the then-current principal business address
                  of the duly appointed General Counsel of BermudaCo)

         (b) Luxco or BermudaCo shall be responsible for notifying each Covered
Person of the receipt of a communication, demand or notice under this Agreement
relevant to such Covered Person, in writing, at the address of such Covered
Person then in the records of Luxco or BermudaCo (and each Covered Person shall
notify Luxco and BermudaCo of any change in such address for communications,
demands and notices) or by electronic mail to the principal electronic address
of such person maintained by BermudaCo.

         (c) Unless otherwise provided to the contrary in this Agreement, any
notice which is required to be given in writing pursuant to the terms of this
Agreement may be given by facsimile or electronic mail.

         Section 4.05. Severability. If any provision of this Agreement shall
be held or deemed to be invalid, illegal or unenforceable in any jurisdiction,
for any reason, the invalidity of that provision shall not have the effect of
rendering the provision in question unenforceable in any other jurisdiction or
in any other case or of rendering any other provision in this Agreement
unenforceable, but the invalid provision shall be substituted with a valid
provision which most closely approximates the intent and the economic effect of
the invalid provision and which would be enforceable to the maximum extent
permitted in such jurisdiction or in such case.

         Section 4.06. Local Annexes. To the extent necessary to comply with
the applicable law of a relevant jurisdiction or in order to ensure that the
provisions of this Agreement reflect the structure and terms agreed in relation
to the transactions contemplated by the Rollup Agreement for a jurisdiction,
this Agreement may be supplemented with an annex (an "LOCAL ANNEX"), which Local
Annex shall set forth certain terms and conditions applicable to the
enforceability of this Agreement in such jurisdiction or in relation to the
application of this Agreement to the structure and terms of the transactions
contemplated by the Rollup Agreement for such jurisdiction. If there is a
conflict between the provisions of this Agreement (absent such supplementation)
and the provisions contained in an Local Annex, the provisions of such Local
Annex shall govern.

                                       16

<PAGE>

         Section 4.07. Amendments to Effect Reorganization. The parties
understand that there may be restructuring of the proposed roll-up transactions
to occur on the date of the closing of the IPO that may result in BermudaCo
being reorganized as (or its rights and liabilities assumed by) a corporation
organized under the laws of any of the United States of America. Notwithstanding
anything to the contrary contained herein, the Partners Committee may, without
the consent of any Covered Person under this Agreement, make such amendments or
modifications to this Agreement in connection with any such restructuring
(including the assignment of the rights and liabilities granted to BermudaCo
hereunder to such new United States corporation) as it deems necessary or
desirable to carry out the intent of the provisions hereof.

         Section 4.08. Section Headings. The headings of sections of this
Agreement are provided for convenience only and will not affect its construction
or interpretation.

         Section 4.09. Entire Agreement. This Agreement and the agreements
specifically named in this Agreement (i.e., the Pledge Agreement, the Rollup
Agreement, the Transfer Rights Agreement, the Voting Agreement and the
Employment Agreement and any withdrawal agreement or waiver and release
agreement described in Article 2) contain the entire agreement between the
Parties with respect to the subject matter therein and supersede all prior oral
and written agreements between the Parties pertaining to such matters.

         Section 4.10. Further Assurances. Each Covered Person agrees to
execute all such further instruments and documents and to take all such further
action as may be reasonably necessary to effect the terms and purposes of this
Agreement.

         Section 4.11. Execution In Counterparts. This Agreement may be
executed in any number of counterparts, each of which shall be deemed an
original, but all such counterparts shall together constitute one agreement.

                                       17

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have duly executed or caused to
be duly executed this Redemption and Non-Competition Agreement as of the date
first above written.

                                 PwCC LIMITED
                                 By:

                                     -------------------------------------------
                                     Name:
                                     Title:

                                 PwC CONSULTING SCA
                                 By:

                                     -------------------------------------------
                                     Name:
                                     Title:

[Signature blocks of Member Firms set forth separately.]

[Signature blocks of Covered Persons set forth separately.]

<PAGE>

                                  [NAME OF MEMBER FIRM]
                                  By:
                                      ------------------------------------------
                                      Name:
                                      Title:

<PAGE>

                                  By:
                                     -------------------------------------------
                                     Name:

<PAGE>

                                                                    APPENDIX A-1

                   COVERED PERSONS (REDEMPTION OR TERMINATION)

                                      A1-1
<PAGE>

                                                                    APPENDIX A-2

                 COVERED PERSONS (SECTION 2.03 COVERED PERSONS)

                                      A2-1
<PAGE>

                                                                    APPENDIX A-3

                 COVERED PERSONS (SECTION 2.04 COVERED PERSONS)

                                      A3-1
<PAGE>

                                                                      APPENDIX B

                             COMPETITIVE ENTERPRISES

                            [TAILORED PER TERRITORY]

                                      B-1
<PAGE>

                                                                    APPENDIX C-1

                                PLEDGE AGREEMENT

         PLEDGE AGREEMENT, dated as of April 30, 2002 (this "AGREEMENT"), among
PwCC Limited, a Bermuda holding company ("BERMUDACO"), and (the "PLEDGOR").
Terms used in this Agreement and not otherwise defined shall have the meanings
ascribed to them in the Redemption and Non-Competition Agreement (referred to
below).

                              W I T N E S S E T H:

         WHEREAS, in connection with the Pledgor's participation in the
Transaction, each Covered Person and BermudaCo have entered into the Redemption
and Non-Competition Agreement attached hereto (the "REDEMPTION AGREEMENT"), into
which this Agreement is incorporated by reference and of which this Agreement is
a part, in respect of, inter alia, each Covered Person's obligations not to
engage in the activities described in Section 3.01 of the Redemption Agreement
for the Restricted Period (the "OBLIGATIONS"). In addition, each Covered Person
has agreed under the Redemption Agreement to certain provisions regarding choice
of law, dispute resolution, injunctive relief and submission to jurisdiction
with respect to the enforcement of the Obligations.

         WHEREAS, pursuant to the Redemption Agreement, each Covered Person has
agreed to pay a certain amount of liquidated damages (with respect to any
Covered Person, such Covered Person's "LIQUIDATED DAMAGES") to BermudaCo in
respect of any breach by such Covered Person of the Obligations set forth in the
Redemption Agreement. As security for the timely payment of the Liquidated
Damages, the Pledgor has agreed to pledge to BermudaCo all of such Pledgor's
Covered Shares, as such term is defined in the Voting Agreement (as may be
reduced for the payment of any taxes in accordance with Section 2.02(e) of the
Voting Agreement).

         NOW, THEREFORE, in consideration of the promises contained in this
Agreement and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows:

         1. Pledge. As collateral security for the full and timely payment of
Liquidated Damages, the Pledgor hereby pledges to BermudaCo and creates for the
benefit of BermudaCo a perfected first priority security interest in the Covered
Shares (as may be reduced for the payment of any taxes in accordance with
Section 2.02(e) of the Voting Agreement) in which such Pledgor now has or at any
time in the future may acquire any right, title or interest (and all
certificates or other instruments or documents evidencing the Covered Shares, if
any, and all securities entitlements in the Covered Shares if such Pledgor holds
his interest in

                                      C1-1

<PAGE>

the Covered Shares through a securities intermediary) and, except as set forth
in Section 2(a), all proceeds thereof (together with any securities, securities
entitlements or property to be delivered to BermudaCo pursuant to Section 2(b))
and, upon substitution or delivery in accordance with Section 1(b), any
Substitute Collateral (as defined in Section 1(b)) and all proceeds thereof
(collectively, the "PLEDGED SECURITIES"). Notwithstanding the foregoing, at the
request of the Pledgor and upon the prior written consent of BermudaCo (which
consent shall be granted in the sole discretion of BermudaCo), such Pledgor may
grant a first priority security interest in the Pledged Securities to another
entity (a "PERMITTED PRIOR PLEDGEE"), in which case, the pledge by such Pledgor
under this Agreement shall be a second priority security interest in the Pledged
Securities. The Pledgor confirms that the Covered Shares are certificated
securities within the meaning of the UCC (as defined below).

                  (b) During the term of this Agreement, the Pledgor may
         substitute for Pledged Securities readily marketable direct obligations
         of the United States, any agency thereof, or any triple-A rated
         sovereign, or other collateral acceptable to BermudaCo in its sole and
         absolute discretion (such collateral, other than Covered Shares, the
         "SUBSTITUTE COLLATERAL") with a Fair Market Value on the date of
         substitution equal to or greater than the Fair Market Value on such
         date of the Pledged Securities to be released in exchange therefor.
         Upon such substitution, the Pledged Securities replaced by such
         Substitute Collateral shall be released from the pledge under this
         Agreement. The Pledgor agrees to deliver to BermudaCo such documents
         and to take such action deemed necessary or appropriate by BermudaCo to
         give BermudaCo a first priority perfected security interest in the
         Substitute Collateral, provided that in cases where a security interest
         in the Pledged Securities has been granted to a Permitted Prior
         Pledgee, BermudaCo shall receive a second priority perfected security
         interest in the Substitute Collateral.

                  (c) If the Pledgor is not prohibited from doing so by the
         terms of the Voting Agreement or any other written agreement with
         BermudaCo, or any law or regulation or BermudaCo policy (collectively,
         the "RESTRICTIONS") and, if at the time of the transfer, no Payment
         Event (as defined below) has occurred or is continuing with respect to
         such Pledgor (or the Covered Person who controls such Pledgor), this
         Agreement shall not prohibit such Pledgor from disposing of Covered
         Shares and receiving the proceeds thereof (such disposition, a
         "PERMITTED DISPOSITION").

                  (d) For purposes of this Agreement, the "FAIR MARKET VALUE" of
         any Pledged Security means, as of any date (i) in the case of Pledged
         Securities that are Class A Common Shares or Exchangeable Shares (as
         such term is defined in the Voting Agreement), the average of the daily
         closing prices for Class A Common Shares on the principal securities

                                      C1-2
<PAGE>

         exchange or market on which such Class A Common Shares are traded for
         the 20 consecutive business days before the date in question (the
         "AVERAGE CLOSING PRICE"); provided, however, that the Fair Market Value
         of Class A Common Shares or Exchangeable Shares for purposes of
         determining the amount of Substitute Collateral necessary to deliver in
         lieu of the Covered Shares during the first 20 business days following
         the closing date of the IPO shall be deemed to be the initial public
         offering price in the IPO; and provided further, that in connection
         with any enforcement of the security interest granted under this
         Agreement by BermudaCo in respect of the Class A Common Shares or
         Exchangeable Shares under Section 3, the Average Closing Price shall be
         determined as the average of the daily closing prices for Class A
         Common Shares on the principal securities exchange or market on which
         such Class A Common Shares are traded for the 20 consecutive business
         days before the date the Enforcement Notice (as defined below) was
         given, and (ii) otherwise, the fair market value thereof as determined
         in good faith by the board of directors of BermudaCo. Any good faith
         determination by the board of directors of BermudaCo of the Fair Market
         Value of any Pledged Security will be binding on the Pledgor.

                  (e) The Pledgor shall deliver to BermudaCo, promptly upon
         receipt thereof, all certificates or other instruments or documents, if
         any, evidencing the Pledged Securities together with such other
         documents deemed necessary or appropriate by BermudaCo to give
         BermudaCo control (as defined in the Uniform Commercial Code of the
         State of New York (the "UCC")) or otherwise to perfect and maintain the
         first priority security interest granted under this Agreement (such
         transfer powers and other appropriate documents, the "PERFECTION
         DOCUMENTS") in respect of Pledged Securities, free and clear of any
         liens or adverse claims, and will deliver Perfection Documents for all
         Pledged Securities to be pledged under this Agreement from time to
         time. The Pledgor hereby authorizes the issuer of any Covered Shares
         issued to such Pledgor and any transfer agent in respect of such
         Covered Shares to deliver any certificate or other instruments or
         documents, if any, evidencing such Covered Shares to BermudaCo or its
         delegate and agrees that he shall cause any securities intermediary
         through which such Pledgor holds its interest in any Covered Shares or
         Substitute Collateral to enter into a control agreement with BermudaCo.

         2. Administration of Security. The following provisions shall govern
the administration of Pledged Securities:

                  (a) (i) So long as no Payment Event has occurred and is
         continuing with respect to the Pledgor (or the Covered Person who
         controls such Pledgor), such Pledgor shall (subject to the terms of the

                                      C1-3
<PAGE>

         Voting Agreement) be entitled to vote Pledged Securities and to
         exercise all of such Pledgor's rights in respect of the Pledged
         Securities (subject to the terms of the Voting Agreement), and to
         receive and retain all cash dividends and distributions or interest in
         respect of Pledged Securities and, except as set forth in Section 2(b)
         other distributions thereon and to give consents, waivers and, if
         applicable, ratifications in respect thereof. As used in this
         Agreement, a "PAYMENT EVENT", shall mean the failure by such Pledgor
         (or the Covered Person who controls such Pledgor) to make any payment
         of Liquidated Damages upon demand by BermudaCo therefor as provided in
         the Redemption Agreement.

                           (ii) Notwithstanding the other provisions contained
                  in this Agreement, so long as no Payment Event has occurred
                  and is continuing with respect to the Pledgor (or the Covered
                  Person who controls such Pledgor), such Pledgor shall be
                  entitled to receive the proceeds from Permitted Dispositions
                  of Pledged Securities pursuant to and subject to Section 1(c).

                  (b) If the Pledgor becomes entitled to receive, or receives,
         any certificate representing Pledged Securities (or other share or
         security that may succeed Pledged Securities or any share or security
         issued as a dividend or distribution in respect of Pledged Securities)
         in respect of any stock dividend, stock split, reverse stock split,
         spin-off, split-up, combination, exchange or distribution of shares or
         increase or reduction of capital, in each case, with respect to Pledged
         Securities, or as a result of any business combination, amalgamation,
         restructuring, recapitalization or other extraordinary transaction
         directly or indirectly involving BermudaCo, its subsidiaries or any of
         their respective securities or assets, then such Pledgor agrees to
         deliver to BermudaCo such documents and to take such action deemed
         necessary or appropriate by BermudaCo to give BermudaCo a first
         priority perfected security interest in such certificates, as
         additional collateral security for Liquidated Damages, provided that in
         cases where a security interest in the Pledged Securities has been
         granted to a Permitted Prior Pledgee, BermudaCo shall receive a second
         priority perfected security interest in such collateral.

                  (c) The Pledgor hereby agrees that BermudaCo is authorized to
         hold (other than, in relation to shares in BermudaCo ("BERMUDACO
         SHARES"), if any, owned by such Pledgor, to the extent prohibited by
         Bermuda law) Pledged Securities through one or more custodians or, in
         relation to any Pledged Securities, to engage any agent or agents to
         enforce its rights under this Agreement in respect of the Pledged
         Securities, in which case the identity of such custodian or agent shall
         be made known to the Pledgor if and when required by applicable law.
         BermudaCo and its agents (and its and their assigns) shall have no

                                      C1-4
<PAGE>

         obligation in respect of Pledged Securities, except to hold (other
         than, in relation to BermudaCo Shares, to the extent prohibited by
         Bermuda law) and dispose, or direct the disposition of, or purchase the
         Pledged Shares in accordance with the terms of this Agreement. In the
         event that the Pledgor substitutes cash for Pledged Securities as
         provided in Section 1(b), BermudaCo shall determine in its sole
         discretion the manner in which such cash shall be invested during the
         term of this Agreement.

                  (d) The Pledgor agrees with BermudaCo that: (i) such Pledgor
         will not, and will not purport to, grant or suffer liens or
         encumbrances against (excluding for such purpose the Voting Agreement
         and such liens and encumbrances granted to or in favor of Permitted
         Prior Pledgees and BermudaCo), or except as provided in Section 1(c),
         sell, transfer or dispose of, any Pledged Securities other than to or
         in favor of a Permitted Prior Pledgee or BermudaCo; (ii) BermudaCo is
         authorized, at any time and from time to time, to file financing
         statements and other recording instruments and give notice to third
         parties regarding Pledged Securities without such Pledgor's signature
         to the extent permitted by applicable law, to transfer all or any part
         of the Pledged Securities (other than the BermudaCo Shares, to the
         extent prohibited by Bermuda law) to BermudaCo's name or that of its
         nominee, and, subject to the provisions of Section 2(a), to exercise
         all rights as if the absolute owner thereof; and (iii) the Pledgor
         shall, promptly upon request by BermudaCo, provide BermudaCo with such
         Pledgor's true legal name and principal residence or chief executive
         office and jurisdiction of organization, and, thereafter, such Pledgor
         will not change such Pledgor's name or address or chief executive
         office or jurisdiction of organization without 30 days' prior written
         notice to BermudaCo.

                  (e) Subject to the earlier disposition and application of
         Pledged Securities pursuant to this Agreement following a Payment Event
         in respect of the Pledgor (or the Covered Person who controls such
         Pledgor), Pledged Securities pledged by the Pledgor under this
         Agreement shall be released from the pledge under this Agreement, and
         the lien hereby created in such Pledged Securities shall simultaneously
         be released, upon the earliest to occur of (i) such Pledgor's death or
         the death of the Covered Person who controls such Pledgor, (ii) the
         expiration of the Restricted Period, (iii) payment in cash or other
         satisfaction by such Pledgor of all Liquidated Damages or (iv) the
         Permitted Disposition of such Pledged Securities. Notwithstanding the
         foregoing, no Pledged Securities pledged by the Pledgor pursuant to
         this Agreement shall be released from the pledge under this Agreement
         pursuant to this Section 2(e), if a Payment Event has occurred and is
         continuing with respect to such Pledgor (or the Covered Person who
         controls such Pledgor) or if there are one or more pending disputes
         between such Pledgor and BermudaCo as to the

                                      C1-5
<PAGE>

         occurrence of a Payment Event or as to the right of BermudaCo to
         exercise its remedies under this Agreement or the Redemption Agreement,
         including realization against Pledged Securities in accordance with
         Section 3, and this Agreement shall not terminate until the resolution
         of all such disputes.

                  (f) BermudaCo shall immediately upon request by the Pledgor
         execute and deliver to such Pledgor such instruments, deeds, transfers,
         assurances and agreements, in form and substance as such Pledgor shall
         reasonably request, including the withdrawal or termination of any
         financing statements and amendments thereto, or the filing, withdrawal,
         termination or amendment of any other document required under
         applicable law to evidence the termination of the security interest
         created under this Agreement with respect to any securities that are
         released from the pledge under this Agreement in accordance with the
         provisions of this Agreement.

         3. Remedies in Case of a Payment Event. (a) If a Payment Event has
occurred and is continuing with respect to the Pledgor (or the Covered Person
who controls such Pledgor), BermudaCo shall have the rights and remedies of a
secured party under Article 9 of the UCC to the extent permitted by applicable
law with respect to such Pledgor.

                  (b) If BermudaCo elects to sell the Pledged Securities pledged
         by the Pledgor as a remedy under this Agreement, to the extent required
         and permitted by applicable law, BermudaCo will give such Pledgor
         notice of the time and place of any public sale or of the time after
         which any private sale or other disposition of such Pledged Securities
         is to be made, by sending notice at least three days before the time of
         sale or disposition, which the Pledgor hereby agrees is reasonable.
         BermudaCo need not give such notice if not required by the UCC or other
         applicable law. The Pledgor acknowledges the possibility that the
         public sale of some or all Pledged Securities by BermudaCo may not be
         made without a then existing and effective registration statement under
         the Securities Act. The Pledgor acknowledges and agrees with BermudaCo
         that BermudaCo has no affirmative obligation to prepare or keep
         effective any such registration statement and agrees that at any
         private sale Pledged Securities pledged by the Pledgor may be sold at a
         price that is less than the price which might have been obtained at a
         public sale or that is less than the aggregate outstanding amount of
         Liquidated Damages of such Pledgor (or the Covered Person who controls
         such Pledgor). Any proceeds from the sale of such Pledged Securities in
         excess of the then outstanding Liquidated Damages of such Pledgor (or
         the Covered Person who controls such Pledgor) will continue to be held
         as Pledged Securities under this Agreement until returned in accordance
         with Section 2(e).

                                      C1-6
<PAGE>

                  (c) BermudaCo may, as a remedy under this Agreement and to the
         extent permitted by applicable law, (i) take ownership of or (ii)
         purchase in accordance with S42A of the Companies Act 1981 of Bermuda,
         in each case, such number of Pledged Securities which are BermudaCo
         Shares pledged by the Pledgor as have a value (based upon the Fair
         Market Value thereof) equal to, or as near as possible equal to, the
         then unpaid portion of Liquidated Damages of such Pledgor (or the
         Covered Person who controls such Pledgor) (in either case, without
         payment of any cash consideration to the Pledgor) by giving written
         notice to the applicable Pledgor (the "ENFORCEMENT NOTICE"). Effective
         upon the giving of the Enforcement Notice, and without further action
         on the part of the parties to this Agreement, BermudaCo shall be deemed
         to have (A) taken ownership (to the extent permitted by applicable law)
         or purchased, and disposed of the lesser of (1) all such Pledged
         Securities or (2) such whole number of such Pledged Securities as has a
         Fair Market Value equal to, or as near as possible equal to, the then
         unpaid Liquidated Damages of such Pledgor (or the Covered Person who
         controls such Pledgor); and (B) received proceeds in the amount of the
         Fair Market Value of such Pledged Securities and applied such proceeds
         to the payment of any then unpaid Liquidated Damages of the Pledgor (or
         the Covered Person who controls such Pledgor). Any proceeds from the
         deemed sale of such Pledged Securities in excess of the then
         outstanding Liquidated Damages of the Pledgor (or the Covered Person
         who controls such Pledgor) will continue to be held as Pledged
         Securities under this Agreement until returned in accordance with
         Section 2(e). Nothing in this Agreement, however, shall require
         BermudaCo to take ownership of or to purchase Pledged Securities in
         accordance with this Section 3 in order to satisfy an obligation of the
         Pledgor (or the Covered Person who controls such Pledgor) to pay
         Liquidated Damages.

                  (d) If a Payment Event has occurred and is continuing with
         respect to the Pledgor (or the Covered Person who controls such
         Pledgor), (i) with respect to such Pledgor's Pledged Securities which
         are not BermudaCo Shares, BermudaCo (except to the extent subject to
         the terms of the Voting Agreement) shall be entitled to vote such
         Pledged Securities and to exercise all of such Pledgor's rights in
         respect of such Pledged Securities and to receive and retain all cash
         dividends and distributions in respect of such Pledged Securities, and
         other distributions thereon and to give consents, waivers and, if
         applicable, ratifications in respect thereof, and (ii) with respect to
         such Pledgor's Pledged Securities which are BermudaCo Shares, such
         Pledgor shall issue a proxy in a form acceptable to BermudaCo to such
         person as BermudaCo directs which proxy shall give such person all
         voting rights, the right to give consents, waivers and, if applicable,
         ratifications, and the right to exercise all of such Pledgor's

                                      C1-7
<PAGE>
         other rights, in each case in respect of such Pledgor's BermudaCo
         Shares (subject to the terms of the Voting Agreement), and BermudaCo
         shall be permitted to withhold all cash dividends and distributions and
         other distributions in respect of such BermudaCo Shares and all such
         withheld cash dividends and distributions and other distributions shall
         become part of the Pledged Securities.

         4. Pledgor's Obligations Not Affected. Except as provided in Section
10(b), the obligations of the Pledgor under this Agreement shall remain in full
force and effect without regard to, and shall not be impaired or affected by (a)
any subordination, amendment or modification of or addition or supplement to
this Agreement, the Redemption Agreement or any assignment or transfer thereof;
(b) any exercise or non-exercise by BermudaCo of any right, remedy, power or
privilege under or in respect of this Agreement, the Redemption Agreement or any
waiver of any such right, remedy, power or privilege; (c) any waiver, consent,
extension, indulgence or other action or inaction in respect of this Agreement,
the Redemption Agreement, or any assignment or transfer of any thereof; (d) any
bankruptcy, insolvency, reorganization, arrangement, readjustment, composition,
liquidation or the like, of BermudaCo, whether or not any Pledgor shall have
notice or knowledge of any of the foregoing; (e) any substitution of collateral
pursuant to Section 1(b); or (f) any other act or omission to act or delay of
any kind by any Pledgor, BermudaCo or any other person or any other circumstance
whatsoever which might, but for the provisions of this clause (f), constitute a
legal and equitable discharge of any Pledgor's obligations under this Agreement.

         5. Attorneys-in-Fact. Without prejudice to the terms of Section 1(a),
each of BermudaCo, and the General Counsel of BermudaCo from time to time,
acting separately, are hereby appointed the attorneys-in-fact of the Pledgor for
the purpose of carrying out the provisions of this Agreement and taking any
action and executing any instrument that BermudaCo reasonably may deem necessary
or advisable to accomplish the purposes of this Agreement, which appointments as
attorneys-in-fact are irrevocable as ones coupled with an interest. Without
limiting the foregoing, the Pledgor specifically authorizes and appoints as
attorney-in-fact each of BermudaCo and the General Counsel of BermudaCo from
time to time, acting separately, to execute and deliver any undated share
transfer powers and control agreements in respect of any certificates or other
instruments or documents evidencing the Pledge Securities pledged under this
Agreement by such Pledgor.

         6. Notices. All notices or other communication required or permitted to
be given under this Agreement shall be delivered as provided in the Redemption
Agreement.

                                      C1-8
<PAGE>

         7. No Third Party Beneficiaries. Except as expressly provided in this
Agreement, this Agreement shall not confer on any person other than BermudaCo
and the Pledgor any rights or remedies under this Agreement.

         8. Governing Law. This Agreement and the rights and duties of the
parties under this Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of New York, without regard to principles
of conflict of laws, and except to the extent that the validity or perfection of
a security interest created hereby or remedies under this Agreement are governed
by the law of a jurisdiction other than the State of New York as provided in
this Agreement or in the UCC.

         9. Dispute Resolution. This Agreement shall be subject to the
provisions of Section 3.02 and Section 4.02 of the Redemption Agreement, which
are incorporated in this Agreement by reference and made a part of this
Agreement. Any and all disputes arising out of, relating to or in connection
with this Agreement, including, without limitation, disputes relating to the
validity, negotiation, execution, interpretation, performance or non-performance
of this Agreement (including the validity, scope and enforceability of the
dispute resolution provision), shall be finally settled by arbitration in
accordance with Section 4.02 of the Redemption Agreement.

         10. Miscellaneous. (a) This Agreement and the Redemption Agreement
contain the entire understanding and agreement between the Pledgor and BermudaCo
with respect to the matters expressly covered in this Agreement and therein and
supersede any other agreement, written or oral, pertaining to such matters.

                  (b) This Agreement may not be amended or modified with respect
         to the Pledgor other than by a written agreement executed by such
         Pledgor and BermudaCo or its successors, nor may any provision of this
         Agreement be waived other than by a document in writing by the party
         granting such waiver; provided that BermudaCo may amend or modify this
         Agreement with respect to the Pledgor without the written consent of
         such Pledgor if such amendment or modification is not materially
         adverse to the Pledgor and (ii) is necessary or desirable in the
         judgment of a Permitted Prior Pledgee in order to create or perfect the
         security interest in the Pledged Securities granted to such Permitted
         Prior Pledgee. The Pledgor may not, directly or indirectly, assign such
         Pledgor's rights or obligations under this Agreement without the prior
         written consent of BermudaCo or its successors, or such individual's
         designee, and any such assignment by such Pledgor in violation of this
         Agreement shall be void. This Agreement shall be binding upon the
         Pledgor's permitted successors and assigns. Without impairing the
         Pledgor's obligations under this Agreement, BermudaCo may at any time
         and from time to time assign its

                                      C1-9
<PAGE>

         rights and obligations under this Agreement to any of its subsidiaries
         or affiliates (and have such rights and obligations reassigned to it or
         to any other subsidiary or affiliate). This Agreement shall be binding
         upon and inure to the benefit of BermudaCo and its successors and
         assigns.

                  (c) If any provision of this Agreement is finally held to be
         invalid, illegal or unenforceable (whether in whole or in part), such
         provision shall be deemed modified to the extent, but only to the
         extent, of such invalidity, illegality or unenforceability and the
         remaining provisions shall not be affected thereby.

                  (d) The captions in this Agreement are for convenience of
         reference only and shall not define or limit the provisions of this
         Agreement.

                  (e) Notwithstanding anything in this Agreement to the
         contrary, nothing in this Agreement shall be deemed to transfer a
         beneficial ownership interest in the Class A Common Shares or Class X
         Common Shares of BermudaCo to BermudaCo, other than to the extent
         permitted by Bermuda law.

                  (f) BermudaCo, as issuer of the Covered Shares pledged under
         this Agreement by the Pledgor, agrees that it will comply with any
         instruction received by it from it, as pledgee under this Agreement,
         with respect to the Covered Shares pledged under this Agreement by the
         Pledgor, without further consent by such Pledgor.

                                     C1-10
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed and delivered on the date first above written.

                                  PwCC LIMITED
                                  By:

                                      ------------------------------------------
                                      Name:
                                      Title:

                                      ------------------------------------------
                                  Name:                             , as pledgor

                                     C1-11
<PAGE>

                                                                    APPENDIX C-2

                                PLEDGE AGREEMENT

         PLEDGE AGREEMENT, dated as of April 30, 2002 (this "AGREEMENT"), among
PwC Consulting SCA, a Luxembourg partnership limited by shares (societe en
commandite par actions) ("LUXCO"), and the undersigned (the "PLEDGOR"). Terms
used in this Agreement and not otherwise defined shall have the meanings
ascribed to them in the Redemption and Non-Competition Agreement (referred to
below).

                              W I T N E S S E T H:

         WHEREAS, in connection with the Pledgor's participation in the
Transaction, each Covered Person and Luxco have entered into the Redemption and
Non-Competition Agreement attached hereto (the "REDEMPTION AGREEMENT"), into
which this Agreement is incorporated by reference and of which this Agreement is
a part, in respect of, inter alia, each Covered Person's obligations not to
engage in the activities described in Section 3.02 of the Redemption Agreement
for the Restricted Period (the "OBLIGATIONS"). In addition, each Covered Person
has agreed under the Redemption Agreement to certain provisions regarding choice
of law, dispute resolution, injunctive relief and submission to jurisdiction
with respect to the enforcement of the Obligations.

         WHEREAS, pursuant to the Redemption Agreement, each Covered Person has
agreed to pay a certain amount of liquidated damages (with respect to any
Covered Person, such Covered Person's "LIQUIDATED DAMAGES") to BermudaCo (or it
designated affiliate) in respect of any breach by such Covered Person of the
Obligations set forth in the Redemption Agreement. As security for the timely
payment of the Liquidated Damages, the Pledgor has agreed to pledge to Luxco all
of such Pledgor's Covered Shares, as such term is defined in the Transfer Rights
Agreement (as may be reduced for the payment of any taxes in accordance with
Section 2.02(e) of the Transfer Rights Agreement).

         NOW, THEREFORE, in consideration of the promises contained in this
Agreement and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows:

         1. Pledge. (a) As collateral security for the full and timely payment
of Liquidated Damages, the Pledgor hereby pledges to Luxco and creates for the
benefit of Luxco a perfected first priority security interest in the Covered
Shares (as may be reduced for the payment of any taxes in accordance with
Section 2.02(e) of the Transfer Rights Agreement) in which such Pledgor now has
or at any time in the future may acquire any right, title or interest (and all
certificates or other instruments or documents evidencing the Covered Shares, if
any, and all

                                      C2-1
<PAGE>

securities entitlements in the Covered Shares if such Pledgor holds his interest
in the Covered Shares through a securities intermediary) and, except as set
forth in Section 2(a), all proceeds thereof (together with any securities,
securities entitlements or property to be delivered to Luxco pursuant to Section
2(b)) and, upon substitution or delivery in accordance with Section 1(b), any
Substitute Collateral (as defined in Section 1(b)) and all proceeds thereof
(collectively, the "PLEDGED SECURITIES"). Notwithstanding the foregoing, at the
request of the Pledgor and upon the prior written consent of Luxco (which
consent shall be granted in the sole discretion of Luxco), such Pledgor may
grant a first priority security interest in the Pledged Securities to another
entity (a "PERMITTED PRIOR PLEDGEE"), in which case, the pledge by such Pledgor
under this Agreement shall be a second priority security interest in the Pledged
Securities. The Pledgor confirms that the Covered Shares are certificated
securities within the meaning of the UCC (as defined below).

                  (b) During the term of this Agreement, the Pledgor may
         substitute for Pledged Securities readily marketable direct obligations
         of the United States, any agency thereof, or any triple-A rated
         sovereign, or other collateral acceptable to Luxco in its sole and
         absolute discretion (such collateral, other than Covered Shares, the
         "SUBSTITUTE COLLATERAL") with a Fair Market Value on the date of
         substitution equal to or greater than the Fair Market Value on such
         date of the Pledged Securities to be released in exchange therefor.
         Upon such substitution, the Pledged Securities replaced by such
         Substitute Collateral shall be released from the pledge under this
         Agreement. The Pledgor agrees to deliver to Luxco such documents and to
         take such action deemed necessary or appropriate by Luxco to give Luxco
         a first priority perfected security interest in the Substitute
         Collateral, provided that in cases where a security interest in the
         Pledged Securities has been granted to a Permitted Prior Pledgee, Luxco
         shall receive a second priority perfected security interest in the
         Substitute Collateral.

                  (c) If the Pledgor is not prohibited from doing so by the
         terms of the Transfer Rights Agreement or any other written agreement
         with Luxco, or any law or regulation or Luxco policy (collectively, the
         "RESTRICTIONS") and, if at the time of the transfer, no Payment Event
         (as defined below) has occurred or is continuing with respect to such
         Pledgor (or the Covered Person who controls such Pledgor), this
         Agreement shall not prohibit such Pledgor from disposing of Covered
         Shares and receiving the proceeds thereof (such disposition, a
         "PERMITTED DISPOSITION").

                  (d) For purposes of this Agreement, the "FAIR MARKET VALUE" of
         any Pledged Security means, as of any date (i) in the case of Pledged
         Securities that are Common Shares, the average of the daily closing
         prices for Class A Common Shares on the principal securities exchange
         or

                                      C2-2
<PAGE>
         market on which such Class A Common Shares are traded for the 20
         consecutive business days before the date in question (the "AVERAGE
         CLOSING PRICE"); provided, however, that the Fair Market Value of
         Common Shares for purposes of determining the amount of Substitute
         Collateral necessary to deliver in lieu of the Covered Shares during
         the first 20 business days following the closing date of the IPO shall
         be deemed to be the initial public offering price in the IPO; and
         provided further, that in connection with any enforcement of the
         security interest granted under this Agreement by Luxco in respect of
         the Common Shares under Section 3, the Average Closing Price shall be
         determined as the average of the daily closing prices for Class A
         Common Shares on the principal securities exchange or market on which
         such Class A Common Shares are traded for the 20 consecutive business
         days before the date the Enforcement Notice (as defined below) was
         given, and (ii) otherwise, the fair market value thereof as determined
         in good faith by the board of directors of Luxco. Any good faith
         determination by the board of directors of Luxco of the Fair Market
         Value of any Pledged Security will be binding on the Pledgor.

                  (e) The Pledgor shall deliver to Luxco, promptly upon receipt
         thereof, all certificates or other instruments or documents, if any,
         evidencing the Pledged Securities together with such other documents
         deemed necessary or appropriate by Luxco to give Luxco control (as
         defined in the Uniform Commercial Code of the State of New York (the
         "UCC")) or otherwise to perfect and maintain the first priority
         security interest granted under this Agreement (such transfer powers
         and other appropriate documents, the "PERFECTION DOCUMENTS") in respect
         of Pledged Securities, free and clear of any liens or adverse claims,
         and will deliver Perfection Documents for all Pledged Securities to be
         pledged under this Agreement from time to time. The Pledgor hereby
         authorizes the issuer of any Covered Shares issued to such Pledgor and
         any transfer agent in respect of such Covered Shares to deliver any
         certificate or other instruments or documents, if any, evidencing such
         Covered Shares to Luxco or its delegate and agrees that he shall cause
         any securities intermediary through which such Pledgor holds its
         interest in any Covered Shares or Substitute Collateral to enter into a
         control agreement with Luxco.

         2. Administration of Security. The following provisions shall govern
the administration of Pledged Securities:

                  (a) (i) So long as no Payment Event has occurred and is
         continuing with respect to the Pledgor (or the Covered Person who
         controls such Pledgor), such Pledgor shall (subject to the terms of the
         Transfer Rights Agreement) be entitled to vote Pledged Securities and
         to

                                      C2-3
<PAGE>

         exercise all of such Pledgor's rights in respect of the Pledged
         Securities (subject to the terms of the Transfer Rights Agreement), and
         to receive and retain all cash dividends and distributions or interest
         in respect of Pledged Securities and, except as set forth in Section
         2(b) in this Agreement, other distributions thereon and to give
         consents, waivers and, if applicable, ratifications in respect thereof.
         As used in this Agreement, a "PAYMENT EVENT" shall mean the failure by
         such Pledgor (or the Covered Person who controls such Pledgor) to make
         any payment of Liquidated Damages upon demand by Luxco therefor as
         provided in the Redemption Agreement.

                           (ii) Notwithstanding the other provisions contained
                  in this Agreement, so long as no Payment Event has occurred
                  and is continuing with respect to the Pledgor (or the Covered
                  Person who controls such Pledgor), such Pledgor shall be
                  entitled to receive the proceeds from Permitted Dispositions
                  of Pledged Securities pursuant to and subject to Section 1(c).

                  (b) If the Pledgor becomes entitled to receive, or receives,
         any certificate representing Pledged Securities (or other share or
         security that may succeed Pledged Securities or any share or security
         issued as a dividend or distribution in respect of Pledged Securities)
         in respect of any stock dividend, stock split, reverse stock split,
         spin-off, split-up, combination, exchange or distribution of shares or
         increase or reduction of capital, in each case, with respect to Pledged
         Securities, or as a result of any business combination, amalgamation,
         restructuring, recapitalization or other extraordinary transaction
         directly or indirectly involving BermudaCo, Luxco or any of their
         respective subsidiaries, securities or assets, then such Pledgor agrees
         to deliver to Luxco such documents and to take such action deemed
         necessary or appropriate by Luxco to give Luxco a first priority
         perfected security interest in such certificates, as additional
         collateral security for Liquidated Damages, provided that in cases
         where a security interest in the Pledged Securities has been granted to
         a Permitted Prior Pledgee, Luxco shall receive a second priority
         perfected security interest in such collateral.

                  (c) The Pledgor hereby agrees that Luxco is authorized to hold
         (other than, in relation to shares in Luxco ("LUXCO SHARES"), if any,
         owned by such Pledgor, to the extent prohibited by Luxembourg law)
         Pledged Securities through one or more custodians or, in relation to
         any Pledged Securities, to engage any agent or agents to enforce its
         rights under this Agreement in respect of the Pledged Securities, in
         which case the identity of such custodian or agent shall be made known
         to the relevant Pledgor if and when required by applicable law. Luxco
         and its agents (and its and their assigns) shall have no obligation in
         respect of Pledged

                                      C2-4
<PAGE>

         Securities, except to hold (other than, in relation to Luxco Shares, to
         the extent prohibited by Luxembourg law) and dispose, or direct the
         disposition of, or purchase the Pledged Shares in accordance with the
         terms of this Agreement. In the event that the Pledgor substitutes cash
         for Pledged Securities as provided in Section 1(b), Luxco shall
         determine in its sole discretion the manner in which such cash shall be
         invested during the term of this Agreement.

                  (d) The Pledgor agrees with Luxco that: (i) such Pledgor will
         not, and will not purport to, grant or suffer liens or encumbrances
         against (excluding for such purpose the Transfer Rights Agreement and
         such liens and encumbrances granted to or in favor of Permitted Prior
         Pledgees and Luxco), or except as provided in Section 1(c), sell,
         transfer or dispose of, any Pledged Securities other than to or in
         favor of a Permitted Prior Pledgee or Luxco; (ii) Luxco is authorized,
         at any time and from time to time, to file financing statements and
         other recording instruments and give notice to third parties regarding
         Pledged Securities without such Pledgor's signature to the extent
         permitted by applicable law, to transfer all or any part of the Pledged
         Securities (other than the Luxco Shares, to the extent prohibited by
         Luxembourg law) to Luxco's name or that of its nominee, and, subject to
         the provisions of Section 2(a), to exercise all rights as if the
         absolute owner thereof; and (iii) the Pledgor shall, promptly upon
         request by Luxco, provide Luxco with such Pledgor's true legal name and
         principal residence or chief executive office and jurisdiction of
         organization, and, thereafter, such Pledgor will not change such
         Pledgor's name or address or chief executive office or jurisdiction of
         organization without 30 days' prior written notice to Luxco.

                  (e) Subject to the earlier disposition and application of
         Pledged Securities pursuant to this Agreement following a Payment Event
         in respect of the Pledgor (or the Covered Person who controls such
         Pledgor), Pledged Securities pledged by the Pledgor under this
         Agreement shall be released from the pledge under this Agreement, and
         the lien hereby created in such Pledged Securities shall simultaneously
         be released, upon the earliest to occur of (i) such Pledgor's death or
         the death of the Covered Person who controls such Pledgor, (ii) the
         expiration of the Restricted Period, (iii) payment in cash or other
         satisfaction by such Pledgor of all Liquidated Damages or (iv) the
         Permitted Disposition of such Pledged Securities. Notwithstanding the
         foregoing, no Pledged Securities pledged by the Pledgor pursuant to
         this Agreement shall be released from the pledge under this Agreement
         pursuant to this Section 2(e), if a Payment Event has occurred and is
         continuing with respect to such Pledgor (or the Covered Person who
         controls such Pledgor) or if there are one or more pending disputes
         between such Pledgor and Luxco as to the occurrence of a Payment Event
         or as to the right of Luxco to exercise its remedies under

                                      C2-5
<PAGE>

         this Agreement or the Redemption Agreement, including realization
         against Pledged Securities in accordance with Section 3, and this
         Agreement shall not terminate until the resolution of all such
         disputes.

                  (f) Luxco shall immediately upon request by the Pledgor
         execute and deliver to such Pledgor such instruments, deeds, transfers,
         assurances and agreements, in form and substance as such Pledgor shall
         reasonably request, including the withdrawal or termination of any
         financing statements and amendments thereto, or the filing, withdrawal,
         termination or amendment of any other document required under
         applicable law to evidence the termination of the security interest
         created under this Agreement with respect to any securities that are
         released from the pledge under this Agreement in accordance with the
         provisions of this Agreement.

         3. Remedies in Case of a Payment Event. (a) If a Payment Event has
occurred and is continuing with respect to the Pledgor (or the Covered Person
who controls such Pledgor), Luxco shall have the rights and remedies of a
secured party under Article 9 of the UCC to the extent permitted by applicable
law with respect to such Pledgor.

                  (b) If Luxco elects to sell the Pledged Securities pledged by
         the Pledgor as a remedy under this Agreement, to the extent required
         and permitted by applicable law, Luxco will give such Pledgor notice of
         the time and place of any public sale or of the time after which any
         private sale or other disposition of such Pledged Securities is to be
         made, by sending notice at least three days before the time of sale or
         disposition, which the Pledgor hereby agrees is reasonable. Luxco need
         not give such notice if not required by the UCC or other applicable
         law. The Pledgor acknowledges the possibility that the public sale of
         some or all Pledged Securities by Luxco may not be made without a then
         existing and effective registration statement under the Securities Act.
         The Pledgor acknowledges and agrees with Luxco that Luxco has no
         affirmative obligation to prepare or keep effective any such
         registration statement and agrees that at any private sale Pledged
         Securities pledged by the Pledgor may be sold at a price that is less
         than the price which might have been obtained at a public sale or that
         is less than the aggregate outstanding amount of Liquidated Damages of
         such Pledgor (or the Covered Person who controls such Pledgor). Any
         proceeds from the sale of such Pledged Securities in excess of the then
         outstanding Liquidated Damages of such Pledgor (or the Covered Person
         who controls such Pledgor) will continue to be held as Pledged
         Securities under this Agreement until returned in accordance with
         Section 2(e).

                                      C2-6
<PAGE>

                  (c) Luxco may, as a remedy under this Agreement and to the
         extent permitted by applicable law, (i) take ownership of or (ii)
         purchase in accordance with applicable Luxembourg law, in each case,
         such number of Pledged Securities which are Luxco Shares pledged by the
         Pledgor as have a value (based upon the Fair Market Value thereof)
         equal to, or as near as possible equal to, the then unpaid portion of
         Liquidated Damages of such Pledgor (or the Covered Person who controls
         such Pledgor) (in either case, without payment of any cash
         consideration to the Pledgor) by giving written notice to the
         applicable Pledgor (the "ENFORCEMENT NOTICE"). Effective upon the
         giving of the Enforcement Notice, and without further action on the
         part of the parties to this Agreement, Luxco shall be deemed to have
         (A) taken ownership (to the extent permitted by applicable law) or
         purchased, and disposed of the lesser of (1) all such Pledged
         Securities or (2) such whole number of such Pledged Securities as has a
         Fair Market Value equal to, or as near as possible equal to, the then
         unpaid Liquidated Damages of such Pledgor (or the Covered Person who
         controls such Pledgor); and (B) received proceeds in the amount of the
         Fair Market Value of such Pledged Securities and applied such proceeds
         to the payment of any then unpaid Liquidated Damages of the Pledgor (or
         the Covered Person who controls such Pledgor). Any proceeds from the
         deemed sale of such Pledged Securities in excess of the then
         outstanding Liquidated Damages of the Pledgor (or the Covered Person
         who controls such Pledgor) will continue to be held as Pledged
         Securities under this Agreement until returned in accordance with
         Section 2(e). Nothing in this Agreement, however, shall require Luxco
         to take ownership of or to purchase Pledged Securities in accordance
         with this Section 3 in order to satisfy an obligation of the Pledgor
         (or the Covered Person who controls such Pledgor) to pay Liquidated
         Damages.

                  (d) If a Payment Event has occurred and is continuing with
         respect to the Pledgor (or the Covered Person who controls such
         Pledgor), (i) with respect to such Pledgor's Pledged Securities which
         are not Luxco Shares, Luxco (except to the extent subject to the terms
         of the Transfer Rights Agreement) shall be entitled to vote such
         Pledged Securities and to exercise all of such Pledgor's rights in
         respect of such Pledged Securities and to receive and retain all cash
         dividends and distributions in respect of such Pledged Securities, and
         other distributions thereon and to give consents, waivers and, if
         applicable, ratifications in respect thereof, and (ii) with respect to
         such Pledgor's Pledged Securities which are Luxco Shares, such Pledgor
         shall issue a proxy in a form acceptable to Luxco to such person as
         Luxco directs which proxy shall give such person all voting rights, the
         right to give consents, waivers and, if applicable, ratifications, and
         the right to exercise all of such Pledgor's other rights, in each case
         in respect of such Pledgor's Luxco Shares (subject to the terms of the

                                      C2-7
<PAGE>

         Transfer Rights Agreement), and Luxco shall be permitted to withhold
         all cash dividends and distributions and other distributions in respect
         of such Luxco Shares and all such withheld cash dividends and
         distributions and other distributions shall become part of the Pledged
         Securities.

         4. Pledgor's Obligations Not Affected. Except as provided in Section
10(b), the obligations of the Pledgor under this Agreement shall remain in full
force and effect without regard to, and shall not be impaired or affected by (a)
any subordination, amendment or modification of or addition or supplement to
this Agreement, the Redemption Agreement, or any assignment or transfer thereof;
(b) any exercise or non-exercise by Luxco of any right, remedy, power or
privilege under or in respect of this Agreement, the Redemption Agreement or any
waiver of any such right, remedy, power or privilege; (c) any waiver, consent,
extension, indulgence or other action or inaction in respect of this Agreement,
the Redemption Agreement, or any assignment or transfer of any thereof; (d) any
bankruptcy, insolvency, reorganization, arrangement, readjustment, composition,
liquidation or the like, of Luxco, whether or not any Pledgor shall have notice
or knowledge of any of the foregoing; (e) any substitution of collateral
pursuant to Section 1(b); or (f) any other act or omission to act or delay of
any kind by any Pledgor, Luxco or any other person or any other circumstance
whatsoever which might, but for the provisions of this clause (f), constitute a
legal and equitable discharge of any Pledgor's obligations under this Agreement.

         5. Attorneys-in-Fact. Without prejudice to the terms of Section 1(a),
each of Luxco, BermudaCo and the General Counsel of BermudaCo from time to time,
acting separately, are hereby appointed the attorneys-in-fact of the Pledgor for
the purpose of carrying out the provisions of this Agreement and taking any
action and executing any instrument that Luxco reasonably may deem necessary or
advisable to accomplish the purposes of this Agreement, which appointments as
attorneys-in-fact are irrevocable as ones coupled with an interest. Without
limiting the foregoing, the Pledgor specifically authorizes and appoints as
attorney-in-fact each of Luxco, BermudaCo and the General Counsel of BermudaCo
from time to time, acting separately, to execute and deliver any undated share
transfer powers and control agreements in respect of any certificates or other
instruments or documents evidencing the Pledge Securities pledged under this
Agreement by such Pledgor.

         6. Notices. All notices or other communication required or permitted to
be given under this Agreement shall be delivered as provided in the Redemption
Agreement.

         7. No Third Party Beneficiaries. Except as expressly provided in this
Agreement, this Agreement shall not confer on any person other than Luxco and
the Pledgors any rights or remedies under this Agreement.

                                      C2-8
<PAGE>

         8. Governing Law. This Agreement and the rights and duties of the
parties under this Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of New York, without regard to principles
of conflict of laws, and except to the extent that the validity or perfection of
a security interest created hereby or remedies under this Agreement are governed
by the law of a jurisdiction other than the State of New York as provided in
this Agreement or in the UCC.

         9. Dispute Resolution. This Agreement shall be subject to the
provisions of Section 3.02 and Section 4.02 of the Redemption Agreement, which
are incorporated in this Agreement by reference and made a part of this
Agreement. Any and all disputes arising out of, relating to or in connection
with this Agreement, including, without limitation, disputes relating to the
validity, negotiation, execution, interpretation, performance or non-performance
of this Agreement (including the validity, scope and enforceability of the
dispute resolution provision), shall be finally settled by arbitration in
accordance with Section 4.02 of the Redemption Agreement.

         10. Miscellaneous. (a) This Agreement and the Redemption Agreement
contain the entire understanding and agreement between the Pledgor and Luxco
with respect to the matters expressly covered in this Agreement and therein and
supersede any other agreement, written or oral, pertaining to such matters.

                  (b) This Agreement may not be amended or modified with respect
         to the Pledgor other than by a written agreement executed by such
         Pledgor and Luxco or its successors, nor may any provision of this
         Agreement be waived other than by a document in writing by the party
         granting such waiver; provided that Luxco may amend or modify this
         Agreement with respect to the Pledgor without the written consent of
         such Pledgor if such amendment or modification (i) is not materially
         adverse to such Pledgor and (ii) is necessary or desirable in the
         judgment of a Permitted Prior Pledgee in order to create or perfect the
         security interest in the Pledged Securities granted to such Permitted
         Prior Pledgee. The Pledgor may not, directly or indirectly, assign such
         Pledgor's rights or obligations under this Agreement without the prior
         written consent of Luxco or its successors, or such individual's
         designee, and any such assignment by such Pledgor in violation of this
         Agreement shall be null and void. This Agreement shall be binding upon
         the Pledgor permitted successors and assigns. Without impairing the
         Pledgor's obligations under this Agreement, Luxco may at any time and
         from time to time assign its rights and obligations under this
         Agreement to any of its subsidiaries or affiliates (and have such
         rights and obligations reassigned to it or to any other subsidiary or
         affiliate). This Agreement shall be binding upon and inure to the
         benefit of Luxco and its successors and assigns.

                                      C2-9
<PAGE>

                  (c) If any provision of this Agreement is finally held to be
         invalid, illegal or unenforceable (whether in whole or in part), such
         provision shall be deemed modified to the extent, but only to the
         extent, of such invalidity, illegality or unenforceability and the
         remaining provisions shall not be affected thereby.

                  (d) The captions in this Agreement are for convenience of
         reference only and shall not define or limit the provisions of this
         Agreement.

                  (e) Notwithstanding anything in this Agreement to the
         contrary, nothing in this Agreement shall be deemed to transfer a
         beneficial ownership interest in the Common Shares of Luxco to Luxco,
         other than to the extent permitted by Luxembourg law.

                  (f) Luxco, as issuer of the Covered Shares pledged under this
         Agreement by the Pledgor, agrees that it will comply with any
         instruction received by it from it, as pledgee under this Agreement,
         with respect to the Covered Shares pledged under this Agreement by the
         Pledgor, without further consent by such Pledgor.

                                     C2-10
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed and delivered on the date first above written.

                                  PwC CONSULTING SCA
                                  By:

                                    --------------------------------------------
                                    Name:
                                    Title:

                                    --------------------------------------------
                                  Name:                             , as pledgor

                                     C2-11
<PAGE>

                                                                       EXHIBIT I

                                JOINDER AGREEMENT

         This Joinder Agreement (this "JOINDER AGREEMENT") is made as of the
date written below by the undersigned (the "JOINING PARTY") in accordance with
the Redemption and Non-Competition Agreement dated as of _________, 2002 (the
"AGREEMENT") among the parties thereto, as the same may be amended from time to
time. Capitalized terms used, but not defined, in this Joinder Agreement shall
have the meaning ascribed to such terms in the Agreement.

         The undersigned Joining Party hereby acknowledges, agrees and confirms
that, by execution of this Joinder Agreement, the Joining Party shall be deemed
to be a Covered Person party to the Agreement as of the date hereof and shall
have all of the rights and obligations of a "Covered Person" thereunder as if
the undersigned had executed the Agreement. The Joining Party hereby agrees to
be bound by, all of the terms, provisions and conditions contained in the
Agreement.

         IN WITNESS WHEREOF, the undersigned has executed this Joinder Agreement
as of the date written below.

Date: ___________ ___, ______

                                  [NAME OF JOINING PARTY]

                                  ____________________<PAGE>
                                                                    EXHIBIT 10.7

                        TRANSITION SERVICES AGREEMENT(1)

                  This is a TRANSITION SERVICES AGREEMENT (this "Agreement")
dated as of [CLOSING DATE OF THE IPO], 2002 (the "Closing Date"), between [PwC
Firm in local jurisdiction] ("PwC Firm") and [Bermudaco, Luxco or the Bermudaco
subsidiary conducting the consulting business in local jurisdiction] ("PwCC").
PwC Firm and PwCC are sometimes hereinafter referred to as a "Party" and
collectively as the "Parties."

                  WHEREAS, during the period preceding this Agreement, the
consulting business, which is now PwCC, had been allocated certain costs
relating to the services described in the Memorandum of Understanding Framework
and Key Assumptions for Support Services, dated 6/11/2001 ("MOU") and the
Supplemental Memoranda of Understanding attached thereto, and related
agreements, if any, described in the Local Term Sheet ("SMOU");

                  WHEREAS, each PwC Member Firm and [Bermudaco or Luxco] or one
of Bermudaco's Subsidiaries have entered into a "Rollup Agreement" relating to
the contribution by each such PwC Member Firm of certain Assets relating to the
PwCC Business;

                  WHEREAS, PwC Firm has entered into a Rollup Agreement with
PwCC as of [April 5, 2002] (the "Rollup Agreement");

                  WHEREAS, PwCC is interested in purchasing certain services
from PwC Firm, including certain financial information services necessary for
Bermudaco to operate as a reporting company whose shares are listed on the New
York Stock Exchange, and PwC Firm and PwC Member Firms are interested in
providing such services to PwCC and its Affiliates and Subsidiaries during a
transition period commencing on the Closing Date and expiring or terminating in
accordance with Article VI below;

                  WHEREAS, PwCC and PwC Member Firms share a common interest in
the success of PwCC as an independent, public company with a first-class
reputation, and intend to cooperate with PwCC and each other so that PwCC
receives the necessary support to continue and grow its business while it plans
for and executes a timely migration from reliance on PwC Member Firms as service
providers; and

                  WHEREAS, the Services provided to PwCC will be provided
pursuant to this Agreement as may be modified by the Local Term Sheet executed
in accordance with this Agreement;

                  NOW, THEREFORE, the Parties hereby agree as follows:

--------

(1)  This Agreement is local in nature and assumes an agreement between local
     entities.
<PAGE>
                                   ARTICLE I

                                   DEFINITIONS

         The terms listed below shall have the meanings ascribed to them in this
         Article I. Any capitalized terms used but not defined in this Agreement
         shall have the meanings ascribed to them in the Rollup Agreement.

         "Additional Services" means services which are not Basic Services (as
         set forth on SCHEDULE A) or Differing Services.

         "Agreement" has the meaning given in the introductory paragraph.

         "Assets" means infrastructure, personnel, Facilities, systems,
         equipment, documentation, processes and tools, or other assets, as
         applicable.

         "Basic Service" has the meaning set forth in Section 3.1(a).

         "Bermudaco" has the meaning given in the introductory paragraph.

         "Closing Date" has the meaning given in the introductory paragraph.

         "Confidential Information" has the meaning set forth in Section 8.1(b).

         "Confidential Materials" has the meaning set forth in Section 8.1(c).

         "Costs" means the actual PwC Firm costs (net of any credits and similar
         items) to provide the Services payable by PwCC hereunder, which
         includes Operating Costs, Service Investment Costs, Termination Costs
         and Stranded Costs, as applicable (e.g., "Costs" will not be deemed to
         include Service Investment Costs to the extent they are funded directly
         by PwCC rather than PwC Firm). In all cases, "Costs" shall only include
         those portions of costs which are allocable to PwCC pursuant to
         SCHEDULE D, SCHEDULE E or as otherwise agreed to in writing.

         "Cost Driver" has the meaning set forth in Section 4.1(c).

         "Differing Services" means Services provided with greater or lesser
         levels of service quality or priority than the Services provided to
         PwCC by PwC Firm at the time of a Service Change Request.

         "Disabling Code" has the meaning set forth in Section 3.12.

         "Disclosing Party" has the meaning set forth in Section 8.1(a).

         "Dispute Resolution Process" means the process described in Section
         12.12(b).

         "Documentation" means all available, material documentation not subject
         to third party confidentiality restrictions concerning all materials
         (i) provided to PwCC by PwC Firm (including Software, PwC Firm
         Developed Intellectual Property, PwCC Developed

                                       2
<PAGE>
         Intellectual Property and Third Party Intellectual Property or
         equipment) or (ii) used by PwC Firm in providing the Services,
         including user and technical manuals, plans, schematics and sales
         materials.

         "Escrow Account" has the meaning set forth in Section 4.2(d).

         "Exploitation License" means a license to any Intellectual Property on
         the terms set forth in Section 9.11(a) or Section 9.11(b) of the Rollup
         Agreement, as applicable depending on identity of the licensing Party.

         "Extensions" means any upgrades, updates, new versions, improvements,
         modifications or enhancements to Intellectual Property, including
         Software.

         "Facilities" means any real property premises owned or leased by a
         Party, including buildings, structures and offices thereon.

         "Global Default Cost Driver" has the meaning set forth in Section
         4.1(c).

         "Global Governance MOU" has the meaning set forth in Section 5.2.

         "Global Project Manager" of a Party means the project manager appointed
         by a Party hereto who is responsible for coordination of the global
         relationship between PwCC's Affiliates and the PwC Member Firms.

         "Inadvertently Omitted Tasks" has the meaning given in Section 3.1(a).

         "Incremental" in connection with Costs incurred due (i) to a Service
         Change Request, as applicable, or (ii) to a PwC Firm planned increase
         or decrease in Service, (iii) to a termination by PwCC with less than
         the required notice hereunder, or (iv) to Transition Assistance to be
         provided by PwC Firm to PwCC arising from material breach by PwC Firm
         (pursuant to Section 6.5(a)), means any additional Costs actually
         incurred less (i) any reductions in Costs actually realized in
         connection with implementing such Service Change Request or such
         increase or decrease in Service or (ii) the Costs that would otherwise
         have been actually incurred in connection with implementing such
         termination or such Transition Assistance.

         "Indemnified Party" and "Indemnifying Party" have the meanings set
         forth in Section 10.1.

         "Itself" means, in connection with a Service provided to PwCC by PwC
         Firm or a third party Service provider, either (i) if such Service is
         also used by PwC Firm, PwC Firm; or (ii) if such Service is not
         provided to PwC Firm, and is provided to PwCC at such a level of
         service as had been provided to the consulting business under the SMOU.

         "Key Personnel" has the meaning set forth in Section 3.5(a).

         "Laws" means all laws, rules and regulations.

                                       3
<PAGE>
         "Local Cost Drivers" has the meaning set forth in Section 4.1(c).

         "Local Project Manager" means a project manager designated by PwC Firm
         or PwCC, respectively, with responsibility for providing or receiving
         Services hereunder.

         "Local Term Sheet" means the schedule executed by PwC Firm and PwCC,
         which is attached hereto and incorporated herein.

         "Luxco" has the meaning set forth in the introductory paragraph.

         "Mandatory Differing Service" means a Differing or Additional Service
         which, if requested by PwCC, shall be provided by PwC Firm.

         "MOU" has the meaning given in the first recital.

         "Non-Organic Growth" means growth in the PwCC Business after the
         Closing Date that is obtained solely through mergers, acquisitions,
         changes in lines of business and additions of new service offerings,
         and any growth of such entities, businesses or offerings, any of which
         would have a material impact on the costs or methods and processes of
         service delivery by PwC Firm to PwCC or other similar transactions or
         organizational changes.

         "Operating Costs" are the actual direct costs, including costs of goods
         and services purchased on behalf of PwCC where such costs are passed
         through directly to PwCC, net of recoverable value-added taxes,
         actually incurred by PwC Firm in connection with a Service rendered
         under this Agreement, including reasonable overhead costs used and/or
         consumed in connection with support activities and Services by the
         business function providing Services to PwCC, and consistent with the
         past practices under the MOU and SMOU (which may include recurring
         payments according to an amortization or depreciation schedule for
         PwCC's allocable share of PwC Firm's Service Investment Costs).

         "Organic Growth" means any growth in the PwCC Business after the
         Closing Date that is not Non-Organic Growth.

         "Oversight Council" means the council consisting of four (4) people
         appointed by the chief executive officer of PwCC and four (4) people
         appointed by the executive responsible on the global level for PwC
         Firm.

         "Party" or "Parties" has the meaning given in the introductory
         paragraph.

         "Procedures Manual" has the meaning set forth in Section 5.6.

         "Project Manager" means a Local Project Manager or a Global Project
         Manager.

         "Public Company F&A Information Services" means the Services so
         described in SCHEDULE A-3.

                                       4
<PAGE>
         "PwCC" has the meaning given in the introductory paragraph.

         "PwCC Business" means the business that PwCC and its Subsidiaries or
         Affiliates operate as of the Closing Date, and includes any changes or
         growth to that business undertaken by PwCC (including any by current or
         future Subsidiaries and Affiliates) supported by the Services.

         "PwCC Data" means all data and information in written, electronic or
         oral form that is (i) Acquired Assets transferred or required to be
         transferred under the Rollup Agreement, and (ii) owned by PwCC, its
         Affiliates and Subsidiaries and its and their suppliers, employees,
         agents, customers, and other third parties, including information
         relating to PwCC's (or PwCC's Subsidiaries' or Affiliates') customers,
         employees, technology, operations, Facilities, markets, products,
         capacities, procedures, security practices, research, development, and
         business affairs and finances, obtained, developed, stored, generated
         or produced by or on behalf of PwCC or in connection with the Services.

         "PwCC Developed Intellectual Property" has the meaning set forth in
         Section 7.2(a).

         "PwC Firm" means PwC Firm as set forth in the introductory paragraph,
         and, as the context requires, its or their Subsidiaries, if any, and
         other entities under common Control with PwC Firm which provide the
         applicable Services to PwCC.

         "PwC Firm Data" means all data and information in written, electronic
         or oral form owned by PwC Firm, its Affiliates and Subsidiaries, and
         its and their suppliers, employees, agents, customers and other third
         parties, including information relating to PwC Firm's employees,
         technology, operations, Facilities, markets, products, capacities,
         procedures, security practices, research, development, and business
         affairs and finances, to which PwCC has been given access under this
         Agreement.

         "PwC Firm Developed Intellectual Property" has the meaning set forth in
         Section 7.2(c).

         "PwC Firm Intellectual Property" means all Intellectual Property listed
         on the Global IP Schedule which is noted as "Shared Use," and any and
         all Intellectual Property not listed on the Global IP Schedule but used
         in the Consulting Business on or prior to the Closing Date which, if
         such Intellectual Property had been listed on such schedule, would have
         been noted thereon as "Shared Use" based on an application of the
         principles that governed the preparation of the Global IP Schedule.

         "PwC Member Firm" means any member firm of the PricewaterhouseCoopers
         global network of firms that is a party to a Rollup Agreement.

         "Receiving Party" has the meaning set forth in Section 8.1(a).

         "Reimbursable Taxes" has meaning set forth in Section 4.3(a).

         "Rollup Agreement" has the meaning set forth in the second recital.

         "Rollup Agreement Date" means the execution date of the Rollup
         Agreement.

                                       5
<PAGE>
         "Segregable" or "Segregation" means, with respect to the Services,
         Assets, Intellectual Property, or goods or services used to supply a
         Service provided to PwCC hereunder, those that can readily be
         segregated using PwC Firm's then-current systems, processes and
         resources from the goods or services that PwC Firm provides to Itself.

         "Service Change Estimate" means an estimate of Costs, if any,
         associated with increasing, reducing or maintaining a level of Service,
         as applicable; an estimate of the Costs, if any, for achieving
         Segregation; an estimate of the Costs, if any, of obtaining third party
         consents; if the change in level of Service is proposed by PwC Firm, a
         description of any improvement or degradation in Services; and all
         other relevant information in connection with the foregoing.

         "Service Change Request" means a request in writing from PwCC for
         Differing Services or Additional Services.

         "Service Investment Costs" of a Party means such Party's allocable
         share of one-time or non-recurring direct initial charges for Assets,
         or other investments or capital expenditures (excluding any
         amortization or depreciation of such investments or capital
         expenditures) and start-up costs including for upgrading or expanding
         infrastructure or systems and the initial costs of any hiring of
         personnel, actually incurred in connection with a Service.

         "Service Levels" has the meaning set forth in Section 3.2(a).

         "Services" has the meaning set forth in Section 3.1(a).

         "Stranded Costs" means a Party's allocable share of unrecovered Service
         Investment Costs.

         "SMOU" has the meaning given to it in the first recital.

         "Term" has the meaning set forth in Section 6.1(a).

         "Termination Costs" of a Party means such Party's allocable share of
         one-time or non-recurring direct costs (other than "Service Investment
         Costs") actually incurred by PwC Firm in connection with the
         termination or expiration of a Service rendered pursuant to this
         Agreement (e.g., severance and other employee termination costs or
         buy-out or termination costs associated with a long-term operating
         agreement or lease).

         "Third Party Claim" has the meaning set forth in Section 10.3(a).

         "Third Party Information" has the meaning set forth in Section
         3.1(h)(iii).

         "Third Party Intellectual Property" means all Intellectual Property
         owned by persons or entities other than the Parties.

         "Transition Assistance" has the meaning set forth in Section 6.5.

                                       6
<PAGE>
         "Trouble" means any material disruption, degradation or non-conformance
         of the Services or any Service.

         "True-Up" has the meaning set forth in Section 4.1(d).

         "Undue Burden" means implementation and operation of a Service or
         change of a Service or related activity would not be commercially
         feasible or would have a material impact on PwC Firm's business,
         systems, procedures or resources.

         "Virus" means any "back door," "time bomb," "Trojan horse," "worm,"
         "drop dead device," "virus," "malicious logic," software routines,
         devices, computer codes, programs or hardware components or other
         undisclosed feature or file which (i) is designed to permit
         unauthorized access to software, hardware or data; (ii) intentionally
         may disrupt, disable, harm, erase or otherwise impede in any manner,
         including aesthetic disruptions or distortions, the operation of the
         foregoing features or files, any portion thereof or any other software,
         firmware, hardware, computer system or network; or (iii) intentionally
         would disable such software or technology, or PwCC, or its designee's,
         other software or systems or technology, or impair in any way their
         operation based on the elapsing of a period of time, exceeding an
         authorized number of copies or advancement to a particular date or
         other numeral.

                                   ARTICLE II

                          INTERPRETATION OF AGREEMENTS

SECTION 2.1. LOCAL TERM SHEET.

         In connection with this Agreement, PwC Firm and PwCC attach hereto the
Local Term Sheet, together with all Exhibits and Schedules thereto, as EXHIBIT
A. In the event of a conflict between the terms of this Agreement and the Local
Term Sheet, the terms of the Local Term Sheet shall prevail.(2)

SECTION 2.2. TERMINATION OF MOU AND SMOU.

         As of the Closing Date, the MOU and SMOU applicable to the Parties,
including any provision thereof intended to survive termination or expiration of
such MOU or SMOU, is hereby deemed terminated and superseded by this Agreement.

--------

(2) The Local Term Sheet may include modifications necessary to achieve the
commercial intent of the Parties taking into account local law and regulations,
but any amendments inconsistent with the commercial intent of these terms and
conditions are not permitted.

                                       7
<PAGE>
                                   ARTICLE III

                                    SERVICES

SECTION 3.1. SERVICES AND CHANGE OF SERVICES.

         (a) Services. Subject to the terms and conditions contained in this
Agreement and during the Term hereof, beginning on the Closing Date, PwC Firm
will provide PwCC and its Subsidiaries and Affiliates the services which were
provided by or on behalf of PwC Firm or its Subsidiaries or Affiliates as of the
Closing Date to the consulting business (these Services to set forth on SCHEDULE
A ("Basic Services")), together with any Additional Services or Differing
Services requested by PwCC, and agreed to by PwC Firm in accordance with the
terms hereof (the "Services"). PwCC shall pay for the Basic Services in
accordance with the provisions set forth in Section 4.1. On and after the
Closing Date, and unless otherwise agreed pursuant to the terms hereof, PwC Firm
will provide, and PwCC will receive, the following Basic Services, each as
further described in SCHEDULE A: Infrastructure (including real estate services,
office services, travel, procurement and physical security), Finance (including
transaction processing), Technology Solutions (including telecommunications,
network services and electronic security), Knowledge Management (including
document retention as required to comply with applicable Laws as instructed by
PwCC), Human Resources, and Learning and Education. Except as expressly stated
on SCHEDULE A-1 as not being provided by PwC Firm or except as contained in
SCHEDULE A-2 as a responsibility of PwCC, Basic Services include all services,
functions, responsibilities or tasks not specifically described in SCHEDULE A
which are required for the proper performance and provision of, or are an
inherent part or a necessary subpart of, the Services. If after the Closing
Date, PwCC identifies a service that was provided under the MOU or SMOU but was
inadvertently omitted from such SCHEDULE A ("Inadvertently Omitted Tasks"), then
if PwCC so notifies PwC Firm in writing within thirty (30) days of the Closing
Date, such Inadvertently Omitted Tasks shall be deemed to be implied by and
included within the scope of the Basic Services to the same extent and in the
same manner as if specifically described herein; however, should PwCC fail to so
notify PwC Firm of such Inadvertently Omitted Tasks within such thirty (30) day
period, PwCC shall have up to six (6) months after the Closing Date to request
the provision by PwC Firm of such Inadvertently Omitted Tasks as a Mandatory
Differing Service and PwCC shall pay to PwC Firm the associated Costs as set
forth in Section 4.1. Upon PwCC's prior written notice, PwC Firm shall provide
Basic Services in connection with the Organic Growth of PwCC as a Mandatory
Differing Service and PwCC shall pay to PwC Firm the associated Costs as set
forth in Section 4.1.

         (b) Public Company F&A Information Services. After the Closing Date,
PwC Firm shall provide, as a Mandatory Differing Service, Public Company F&A
Information Services as set forth in SCHEDULE A-3 and PwCC shall pay the Costs
therefor in accordance with Section 4.1.

         (c) Differing Services and Additional Services.

                  (i) PwCC may from time to time request Differing Services or
Additional Services by submitting a Service Change Request. A Differing Service
which (A) is required to comply with SEC or other Laws, or (B) PwCC cannot
obtain in a commercially

                                       8
<PAGE>
reasonable manner in the marketplace because of interdependencies with other
Services provided by PwC Firm, and which, if not provided, would result in an
material adverse impact to the PwCC Business shall be a Mandatory Differing
Service. Notwithstanding the above, in connection with any Service Change
Request made pursuant to (B) above, PwC Firm shall not be required to provide
such Mandatory Differing Service if it would have an Undue Burden. For the
avoidance of doubt, PwCC hereby agrees to pay all Incremental Costs, including
Incremental Service Investment Costs, Incremental Operating Costs and
Incremental Termination Costs, in connection with any Differing Service or
Additional Service. Any payment of Costs associated with Differing Services or
Additional Services will be determined in accordance with Section 4.1.

                  (ii) In the event PwCC moves to a new location, unless such
move causes an Undue Burden on PwC Firm, PwC Firm shall provide Services to PwCC
in its new location, as a Mandatory Differing Service. If PwCC's move to a new
location is an Undue Burden on PwC Firm, then PwC Firm may, at its option,
provide Services to PwCC in its new location as a Differing Service. PwCC shall
provide one hundred eighty (180) days notice prior to the planned move, which
notice may be delivered prior to or after the Closing Date, of any such move and
any payment of Costs therefor shall be in accordance with Section 6.1. The Local
Term Sheet lists the planned moves and the dates upon which PwC Firm received
notice of such moves as set forth above as of the Closing Date.

         (d) PwC Firm Increase in Levels of Services. Except for routine
upgrades and replacements which are common to PwC Firm, if PwC Firm plans to
implement increased (including higher quality or priority) levels of Services
for Itself and therefore for PwCC hereunder, PwC Firm shall promptly notify PwCC
once PwC Firm begins to plan to increase such level of Service, including in
such notice a Service Change Estimate and the date of proposed implementation.

                  (i) If such Service is Segregable, PwCC may at its option
decline the proposed increase in level of Service by notifying PwC Firm in
writing, and shall pay all Costs for achieving Segregation and PwCC shall
continue to receive such Services at the level provided prior to Segregation. If
PwCC does not provide such written notification to PwC Firm within sixty (60)
days of receipt of a Service Change Estimate, PwCC shall be deemed to have
approved the Service Change Estimate and shall be responsible to pay all
Incremental Costs associated with such increased Service level.

                  (ii) If such Service is not Segregable, unless PwCC terminates
such Service in accordance with Section 6.1(b) herein, PwCC shall receive such
increased level of Service and pay the associated Incremental Operating Costs
therefor, but shall not be responsible for any Incremental Costs (other than
such Incremental Operating Costs) associated with such Service.

         (e) PwC Firm Reduction in Levels of Services. PwC Firm shall promptly
notify PwCC once PwC Firm begins to plan to implement reduced (including lesser
quality or priority) levels of Service for Itself and therefore PwCC, and, if
the reduction would have a material impact on the PwCC Business, shall provide
such notice at least one hundred eighty

                                       9
<PAGE>
(180) days before implementation thereof. In each instance, PwC Firm's notice to
PwCC shall include a Service Change Estimate and the date of proposed
implementation.

                  (i) If such Service is Segregable, PwCC may at its option
require PwC Firm to continue to provide the existing level of such Service as a
Mandatory Differing Service by providing PwC Firm with prior written notice in
the form of a Service Change Request, and shall pay all Costs for achieving
Segregation and the Operating Costs to operate such separate process or system
and PwCC shall continue to receive such Services at the level provided prior to
Segregation. If PwCC does not provide such written notification within sixty
(60) days of receipt of a Service Change Estimate, PwCC shall be deemed to have
accepted the Service Change Estimate and shall be responsible to pay all
Incremental Costs associated with such change in Services.

                  (ii) If such Service is not Segregable, unless PwCC terminates
such Service in accordance with Section 6.1(b) herein, PwCC shall receive such
non-Segregable Service at the reduced level of Service and shall pay for such
Service in accordance with Section 4.1.

         (f) Service Change Request. If PwCC submits a Service Change Request to
PwC Firm, then: (i) if in the reasonable judgment of PwC Firm the Service Change
Request may be evaluated using existing resources and is otherwise consistent
with the Parties' past practices under the MOU and SMOU, PwC Firm shall within a
reasonable time provide a Service Change Estimate; or (ii) otherwise, PwC Firm
shall promptly discuss with PwCC its reasonable concerns regarding (A) obtaining
or using material resources reasonably necessary to provide a Service Change
Estimate to PwCC, or (B) the Undue Burden that PwC Firm reasonably believes
would be caused by implementing the Service Change Request. In the event of a
situation described in (ii) above, the Parties shall reasonably cooperate to
discuss alternatives. PwCC may, after such discussion submit a modified Service
Change Request and PwC Firm may thereafter, at Cost, prepare and deliver a
Service Change Estimate. Except in connection with a Mandatory Differing
Service, unless and until agreement is reached by the Parties on a Service
Change Estimate, PwC Firm shall have no obligation to provide Differing Services
or Additional Services. Except as expressly set forth in Sections 3.1(c), 3.1(d)
and 3.1(e), each Service Change Estimate must be approved in writing by PwCC or
its authorized designee prior to PwC Firm's holding PwCC responsible for Costs
for implementation of any Service Change Request.

         (g) Roles and Responsibilities. SCHEDULE A-2 to this Agreement shall
include the Parties' roles and responsibilities with respect to the Services.

         (h) Certain PwCC Obligations.

                  (i) PwCC shall (i) reasonably cooperate with PwC Firm as
necessary to facilitate PwC Firm's provision of Services, (ii) perform such
tasks necessary for the provision of the Services that PwC Firm shall reasonably
request, and (iii) make available to PwC Firm on a timely basis all reliable and
accurate information and materials required by PwC Firm to enable PwC Firm to
provide the Services. SCHEDULE A-2 contains a description of the cooperation,
tasks, materials and information contemplated by this Subsection.

                                       10
<PAGE>
                  (ii) Except to the extent an error otherwise becomes actually
known to PwC Firm or PwC Firm otherwise has express verification obligations in
connection with performance of the Service: (i) PwC Firm may accept as correct,
accurate, and reliable, without any further inquiry, all information, data,
documents, and other records delivered, supplied, or made available to PwC Firm
hereunder by PwCC or at the direction or under the authority of PwCC in
connection with the performance by PwC Firm of the Services, and may assume that
PwCC has provided it with all information in the possession or control of PwCC
which is necessary for the performance of the Services; and (ii) PwC Firm shall
have no responsibility or liability for any error, inadequacy, or omission which
results from untimely, inaccurate or incomplete information, data, documents, or
other records delivered, supplied, or made available to PwC Firm by PwCC or at
the direction or under the authority of PwCC, except to the extent such
liability is caused by PwC Firm's failure to perform Services in accordance with
the terms of this Agreement.

                  (iii) PwCC acknowledges that PwC Firm's ability to perform
certain of the Services may be dependent on the receipt of information by PwC
Firm from third parties not affiliated with PwC Firm ("Third Party
Information"). PwCC agrees that PwC Firm shall not be liable for errors as a
result of untimely, inaccurate or incomplete Third Party Information and that,
except as may be expressly provided herein, PwC Firm shall have no obligation to
verify or confirm any Third Party Information.

                  (iv) To the extent performance of any obligation by a Party
hereto is conditioned on the other Party's acts (or acts of a third party
related to such other Party) and that Party (or third party) fails to act, the
obligation of such Party shall be suspended until such time as the other Party
(or third party) acts as required.

                  (v) If consent of a third party is required as a condition to
a Party's performance of any obligation hereunder, and such consent has not been
obtained:

                           (A) If such consent should have been obtained
pursuant to Section 9.1 of the Rollup Agreement, and the Parties continue to use
reasonable best efforts to obtain such consent (in accordance with their
obligations under the Rollup Agreement), the obligated Party shall be excused
from performance of its related obligation for so long as, and to the extent
that, such consent is not obtained, or an alternative arrangement in the form of
a license, sublease or operating agreement cannot be reasonably arranged.

                           (B) If such consent is required due to an act of
PwCC, PwC Firm shall use commercially reasonable efforts to obtain such consent
at Cost, and shall be excused from performance of its related obligation for so
long as, and to the extent that, such consent is not obtained, or an alternative
arrangement in the form of a license, sublease or operating agreement cannot be
reasonably arranged.

                           (C) If such consent is required relating to a plan of
PwC Firm to change a Service for Itself, and therefore for PwCC, then PwC Firm
shall provide notice to PwCC upon initiating action in connection with such plan
and use reasonable best efforts to obtain such consent at its expense. If PwC
Firm reasonably concludes it will be unable to obtain such consent despite using
reasonable best efforts, it will notify PwCC pursuant to Section

                                       11
<PAGE>
3.1(e). If the Service is Segregable, the Parties shall treat such notice as a
notice pursuant to Section 3.1(e). PwCC shall have up to one hundred eighty
(180) days to discontinue the affected Service before the change is implemented.

                           (D) If such consent is required due to any other act
of PwC Firm, then PwC Firm shall use reasonable best efforts to obtain such
consent at its expense.

                           (E) If such consent is required for reasons other
than as set forth above, the Parties shall use commercially reasonable efforts
to obtain such consent, at Cost, and if such consent is not obtained, the
obligated Party shall be excused from performance of its related obligation for
so long as, and to the extent that, such consent is not obtained, or alternative
arrangement, license, sublease or operating agreement cannot be reasonably
arranged.

                  (i) Unless the Parties agree otherwise in writing, PwC Firm
shall provide Services hereunder as and to the extent required by PwCC to meet
its obligations in connection with contracts assigned to PwCC in the Rollup
Agreement. If Services were provided in such manner during the term of the MOU
or SMOU, such Services shall be deemed to be Basic Services, and if not provided
in such manner during the term of the MOU or SMOU, such Services shall be deemed
to be Mandatory Differing Services.

SECTION 3.2. SERVICE LEVELS.

         (a) Service Levels. SCHEDULE B attached hereto sets forth acceptable
performance levels ("Service Levels") associated with the Public Company F&A
Information Services. For each Public Company F&A Information Service, PwCC and
PwC Firm shall measure and report on the measures of performance and achievement
of Service Levels in accordance with SCHEDULE B. PwC Firm shall meet the Service
Levels for each Public Company F&A Information Service. On or before each
anniversary of the Closing Date, the Parties shall conduct an annual review for
the purposes of assessing whether the current Service Levels for the Public
Company F&A Information Services and performance are at appropriate levels for
the Public Company F&A Information Services provided by PwC Firm to PwCC.

         (b) Performance Standards. PwC Firm shall perform each Basic Service
with a level of accuracy, quality, completeness, timeliness, priority, and
responsiveness that meets the level of performance by Itself at such time to
Itself, except as otherwise expressly agreed in writing by the Parties. The
Parties may agree on the level of accuracy, quality, completeness, timeliness,
priority and responsiveness at which any Additional or Differing Service will be
performed. By way of illustration, and not limitation, if the network serving
PwC Firm and PwCC is unavailable for any period of time, and PwC Firm is using
the same amount of effort and time attempting to restore network service to
Itself as with respect to PwCC, then, except if a specific Differing Service or
Additional Service with respect to levels of network availability is in effect,
PwC Firm shall be performing in accordance with its obligations hereunder.

         (c) Certain Remedies. If PwC Firm fails to perform in accordance with
the obligations set forth in Sections 3.2(a) and 3.2(b) and provided that PwCC
is in compliance with its obligations under Section 3.1(h), then PwC Firm shall
use reasonable efforts to prevent such failure from recurring. In addition, if
the effects of a failure to perform can be remedied by

                                       12
<PAGE>
reperformance, and if PwC Firm reperforms as required by this Subsection at no
cost to PwCC, then, except as set forth in the preceding sentence, such
reperformance shall be PwCC's sole remedy in connection with the effects of the
performance failure. Notwithstanding anything herein to the contrary, to the
extent the failure of PwC Firm to perform in accordance with the obligations set
forth herein is caused by or results from a problem or event that affects not
only PwCC but also Itself, then, unless a different standard applies with
respect to a specific Differing Service or Additional Service, the reperformance
obligations set forth in this Section shall remain the sole and exclusive remedy
available for PwCC against PwC Firm and no damages associated therewith shall be
recoverable by PwCC against PwC Firm. For avoidance of doubt, by way of
illustration and not limitation, in the event that for a material period of time
PwC Firm provides PwCC with less network availability than it provides for
Itself, such unavailability shall be deemed a failure unremediable by
reperformance.

         (d) Cost-Efficiency. Regardless of whether there exists an associated
Service Level, PwC Firm will be no less efficient in its use of the resources or
services necessary to provide the Services than it is in its use of resources
and services to provide similar services in similar circumstances for Itself.

         (e) Measurement and Monitoring Tools. As part of the Services, subject
to any confidentiality restrictions imposed by a third party, PwC Firm shall
provide PwCC, all measurements and reports of service quality and performance
actually generated by PwC Firm for Itself that are relevant to determining
whether PwC Firm is performing its obligations hereunder.

         (f) Trouble Resolution. So long as it is not due to any failure of PwCC
to perform its obligations and does not result in Undue Burden, PwC Firm will,
at Cost, reasonably cooperate with and assist PwCC in connection with diagnosing
and resolving complex problems involving the Services, PwCC, and one or more
third parties receiving services from PwCC and PwC Firm's responsibility to
reasonably cooperate will terminate once it is determined that the causes of the
problems likely are caused by failures of the third party's performance, systems
or processes.

SECTION 3.3. MAINTENANCE.

         In the event of any scheduled maintenance of any systems used in the
provisioning of the Services, PwCC shall receive the same amount of prior notice
that PwC Firm provides to Itself relating to systems maintenance, and the length
of time to repair such systems relating to the Services shall not exceed the
period PwC Firm takes to repair its like systems. Notwithstanding the prior
sentence, PwC Firm shall obtain the prior written approval of PwCC, such
approval not to be unreasonably withheld, in connection with maintenance
directly affecting Public Company F&A Information Services. Notwithstanding the
foregoing, PwC Firm may perform emergency maintenance at any time if in the
reasonable judgment of PwC Firm the non-performance of such emergency
maintenance would have a material adverse impact on any Service, the business of
Itself or the PwCC Business; provided that PwC Firm shall immediately notify
PwCC as required under any applicable notification and escalation procedures, if
any, and shall use its best efforts to restore service as soon as practicable.

                                       13
<PAGE>
SECTION 3.4. OTHER PROVISIONS RELATED TO SERVICES.

         (a) Independent Contractors. PwC Firm and any of its permitted
designees under this Agreement shall perform solely as independent contractors
and not as agents of PwCC except as provided under certain circumstances under
applicable provisions of the Local Term Sheet.

         (b) Subcontractors. PwC Firm shall not delegate or subcontract any of
its material obligations under this Agreement to a third party without PwCC's
prior written consent, unless PwC Firm delegates or subcontracts services it
uses internally for Itself to the same third party. PwC Firm shall remain liable
for obligations performed by subcontractors and other agents to the same extent
as if a PwC Firm employee had performed such obligations, and for purposes of
this Agreement such work shall be deemed to be work performed by PwC Firm.

         (c) Procurement Information. PwC Firm shall give PwCC notice on a
quarterly basis of PwC Firm's initiation of the preparation of procurement
actions for the purpose of allowing PwCC to make Service termination decisions.

         (d) Cooperation with Third Parties. If PwCC requires services from a
third party which are reasonably required to interoperate or interface with the
Services, and PwCC requires PwC Firm's cooperation in connection therewith, PwCC
shall notify PwC Firm within a reasonable time in advance of the date such third
party or PwCC will begin to provide such Services. As part of the Services, and
at Cost, PwC Firm shall cooperate with PwCC and its contractors to allow the
proper performance of any services (whether or not included within the
definition of Services) being provided internally by PwCC or by such third party
contractors; provided that such cooperation does not result in Undue Burden,
further provided that such third parties contractors meet PwC Firm's reasonable
confidentiality requirements, and further provided that PwCC shall use
commercially reasonable efforts to reduce its need within a reasonable time for
PwC Firm's cooperation with any such third party service provider.

         (e) No Resale. PwC Firm shall be required to provide Services to PwCC
only to support the needs of the PwCC Business, which shall not include resale
or supply of the Services to third parties; provided that the Local Term Sheet
shall set forth any accommodations agreed upon by the Parties, including with
respect to existing and future customers.

         (f) Staffing. PwC Firm shall not purposefully cause any degradation of
the quality or continuity of PwC Firm's staffing in connection with the Services
except to the extent PwC Firm does so for Itself, and such degradation could
reasonably result in performance degradation, PwC Firm shall provide notice in
accordance with Section 3.1(e).

SECTION 3.5. KEY PERSONNEL.

         (a) Key Personnel. "Key Personnel" shall consist of one person from
each Party who will be a point of contact for Technology Solutions Services and
one person from each Party who will be a point of contact for Public Company F&A
Information Services. SCHEDULE C sets forth the Parties' respective Key
Personnel. The Parties shall cause the Key Personnel to devote the time and
effort to the provision of the Services as is set forth on SCHEDULE C.

                                       14
<PAGE>
         (b) Approval of Decisions Affecting Key Personnel. For the twelve (12)
month period after the Closing Date, each Party shall (i) notify the other Party
reasonably in advance, consult with the other Party and obtain the other Party's
written consent prior to implementing any decision to terminate the employment
of any Key Personnel except for reasonable cause, and (ii) promptly notify the
other Party upon the death, disability or resignation of any of Party's Key
Personnel and consult with the other Party and obtain its written consent prior
to replacing such Key Personnel. After the twelve (12) month period following
the Closing Date, PwCC and PwC Firm shall discuss continuity of staffing and Key
Personnel positions, and implement appropriate procedures to assure continuity
of service and communications between PwCC and PwC Firm.

         (c) Approval of Key Personnel. During the twelve (12) month period
after the Closing Date, before assigning an individual to be or replace any
Party's Key Personnel, each Party shall notify the other Party of the proposed
assignment, shall introduce the individual to appropriate representatives as
designated by the other Party's Project Manager, and shall provide the other
Party with such information regarding such individual as such other Party may
reasonably request.

SECTION 3.6. ACCESS.

         (a) Performance Information. For purposes reasonably related to the
quality and priority of the Services, PwCC shall have the right to access all
data, information, Facilities, systems or personnel relevant to the delivery of
the Services for a reasonable duration at any two (2) occasions during the first
twelve (12) months from the Closing Date and one (1) occasion thereafter per
PwCC fiscal year, the timing of which shall be mutually coordinated. In
addition, (i) if, except as may be reasonably anticipated pursuant to a notice
received pursuant to Section 3.1(e), PwCC has a reasonable basis to believe that
any of the Services has materially degraded; or (ii) if the information
reflected in any report made available to PwCC indicates that any of the
Services has materially degraded or PwC Firm is not meeting its obligations
pursuant to Section 3.2, then PwCC shall have the right to access all data,
information and personnel relevant to such Service.

         (b) Access by Regulators and Others. For purposes of compliance with
audit, litigation, or PwCC's compliance with Laws, PwCC's authorized agents and
representatives, shall have access to such records or information and Facilities
as necessary (including personnel as reasonably necessary) for any period during
which records are required to be maintained in accordance with this Agreement.
Solely for purposes of this Section 3.6(b) and Article X, the term "access"
shall include installation of audit software on PwC Firm's systems, provided
that with respect to any software installation PwC Firm shall have an
opportunity to review such software, and may refuse to allow its installation to
the extent that it may reasonably have a material adverse impact on PwC Firm's
systems. To the extent that any software installed on PwC Firm's systems by a
third party acting with PwCC's prior written authorization causes damages to PwC
Firm's systems, such acts by such third party shall be deemed to be acts of PwCC
hereunder.

                  (i) After the Closing Date, customers of PwCC which are
identified on an attachment to the Local Term Sheet shall have access to the
same extent and purpose that

                                       15
<PAGE>
they had access prior to the Closing Date. Access (including the extent and
purpose), if any, by new customers of PwCC (which customers shall be of a
similar nature as those customers identified in the Local Term Sheet) after the
Closing Date shall be added to such attachment. The number of additional
customers shall not exceed the number of PwCC customers as of the Closing Date.

                  (ii) PwC Firm hereby approves provision of access in
accordance with this Section 3.6 to employees or designated agents of Deloitte
Touche Tohmatsu or any PwCC external auditor to the extent such access is
required for performance, on behalf of PwCC, of such required audits and related
work.

         (c) Office Facilities. PwC Firm shall provide to PwCC and such
authorized persons as PwCC may reasonably designate in writing, who are working
on PwC Firm's premises, reasonable work space to the extent available and as
reasonably required to perform the audits, reviews and inspections described
herein.

         (d) Costs for Access. All Costs associated with PwC Firm's compliance
under this Section 3.6 which are not otherwise recovered by PwC Firm shall be
chargeable to PwCC.

         (e) Access to PwC Firm Facilities by PwCC Employees and Agents. In
addition to such access specified in Subsections 3.6(a) through (c) and Section
6.5(b) and as specified in the Local Term Sheet, specifically designated
employees of PwCC, its Affiliates and Subsidiaries approved by PwC Firm
(including those designated and approved after the Closing Date) with a good
faith specified need for access in connection with the Services shall have
reasonable access to, and ability to interface with and use specifically
designated PwC Firm's systems, Facilities and data provided that, with respect
to any software installation, PwC Firm shall have an opportunity to review such
software, and may refuse to allow its installation to the extent that it may
reasonably have a material adverse impact on PwC Firm's systems.

         (f) Access to PwCC Information and Facilities. PwCC will make available
on a timely basis to PwC Firm all information, materials and personnel
reasonably requested by PwC Firm and required by it to enable it to provide the
Services. PwCC will provide to PwC Firm (and its agents and contractors)
reasonable access to PwCC's Facilities to the extent necessary for the purpose
of providing the Services.

         (g) Access Restrictions. Any access provided under this Section 3.6 (i)
shall be upon reasonable notification under the circumstances to each Party's
agreed upon Key Personnel or other personnel designated in writing; (ii) shall
be during normal business hours; (iii) shall not materially interrupt the normal
business operations of the Party providing access, as determined by such Party
in its reasonable discretion; (iv) except as expressly provided herein, shall
not permit or include, in connection with access to information and data
hereunder, PwCC's interface or overlay of any of its systems with or on the
systems of PwC Firm unless such interface or overlay is in place as of the
Closing Date; (v) may require that individuals shall be accompanied by a
representative of a Party at all times when on the Party's premises; (vi) shall
at all times be qualified by the Parties, mutual agreement hereunder to use
commercially reasonable efforts to minimize requests for and the extent and
duration of access hereunder; (vii) shall be

                                       16
<PAGE>
subject to the confidentiality restrictions of third parties and (viii) shall be
subject to applicable Laws relating to such access.

SECTION 3.7. FORCE MAJEURE.

         Subject to PwC Firm's performance of its obligations pursuant to
Section 3.9 hereunder, PwC Firm shall not be liable for any interruption of
Service or delay or failure to perform under this Agreement due to acts of God,
acts of a public enemy, acts of terrorism, acts of a nation or any state,
territory, province or other political division thereof, insurrection, war,
rebellion, storm, strike, invasion, fires, floods, epidemics, riots, hurricane,
earthquake, theft, quarantine restrictions, freight embargoes or other causes
beyond the control of PwC Firm. In any such event, PwC Firm's obligations shall
be postponed for such time as its performance is suspended or delayed on account
thereof. Each Party will promptly notify the other Party, either orally or in
writing, upon learning of the occurrence of such force majeure event and use
reasonable efforts to identify alternative providers. Upon the cessation of the
force majeure event, unless otherwise agreed, PwC Firm will resume its
performance with the least practicable delay. PwCC may terminate any Service (or
bundle of Services which would be required to be terminated together pursuant to
Section 6.1(b)(i)) affected by a force majeure event, such termination effective
at any time indicated on written notice delivered to PwC Firm during the event.
If PwCC so terminates, PwCC shall be responsible for fifty percent (50%) of the
Incremental Termination Costs which would otherwise be payable had PwCC given
notice pursuant to Section 6.1(b) in the absence of a force majeure event. In
all instances of force majeure, PwCC shall continue to pay Operating Costs until
the affected Service is terminated, except that PwCC shall benefit from and be
entitled to the proceeds of any insurance coverage of PwC Firm or PwCC to the
extent of any Costs paid by PwCC. PwCC and PwC Firm shall use all reasonable
efforts to pursue any available insurance claim. PwC Firm shall promptly pay
over to PwCC its allocable share of any such proceeds to such extent when
received.

SECTION 3.8. REQUIRED INSURANCE COVERAGES.

         The Parties shall arrange for and maintain certain insurance coverages
as set forth on SCHEDULE F hereto.

SECTION 3.9. DISASTER RECOVERY.

         PwC Firm shall maintain disaster recovery plans for PwCC which are
substantially similar to the disaster recovery plans, as updated from time to
time, in place for services (e.g., recovery of data, operating environment,
telecommunications infrastructure and other Facilities) provided to Itself which
are similar to the Services provided to PwCC. PwC Firm shall update and test the
operability of its disaster recovery plans for PwCC with the same frequency and
testing mechanisms as it uses for similar disaster recovery plans for Itself.
PwC Firm shall make available to PwCC any disaster recovery policies and
procedures in effect for PwCC during the Term, and the results of any disaster
recovery tests performed during the Term with respect to the Services or under
such disaster recovery plans. In the event of a disaster, PwC Firm shall
implement all applicable disaster recovery plans and procedures for Services
provided to PwCC as it implements for similar services performed for Itself.

                                       17
<PAGE>
SECTION 3.10. SECURITY.

         (a) Each Party will comply with the written security procedures, if
any, that are in effect during the Term for the security of the other Party's
Facilities, systems and data, including any written security procedures
necessary to comply with SEC or other relevant Laws, as such procedures are
created or modified by the other Party from time to time.

         (b) As personnel involved in providing Services hereunder may have the
ability to defeat systems security provisions on devices containing PwCC Data,
which could lead to violations of securities, exchange or other Laws governing
public companies, with respect to any such personnel, PwC Firm will utilize the
same procedures as are used by it in connection with confidentiality,
independence, compliance with insider trading Laws for its public company
customers, and all other relevant Laws.

         (c) If PwC Firm proposes after the Closing Date to provide the Services
to PwCC in a manner that is shared with a third party (or with any part of the
business of PwC Firm or PwC Member Firms which is now or in the future is
reasonably likely to be competitive with the PwCC Business), subject to PwCC's
approval, PwC Firm shall develop a process consistent with customary practices
in the industry and, if accepted by PwCC, PwCC shall pay the Costs associated
therewith, to restrict access in any such shared environment to PwCC's
Confidential Information, including PwCC Data, so that such third party (or
potentially competitive business of PwC Firm or PwC Member Firms) shall have no
access to PwCC's Confidential Information including PwCC Data. PwC Firm shall
use reasonable efforts to implement the foregoing process and shall promptly
notify PwCC of any material failures in connection with such process.

SECTION 3.11. VIRUSES.

         Each Party hereto hereby agrees to the regular use of virus protection
software programs which meet the standards that PwC Firm uses for Itself and
PwCC uses for itself, respectively, to prevent Viruses from being coded or
introduced into the systems used to provide the Services, including any of PwC
Firm's or PwCC's proprietary systems. If a Virus is found to have been
introduced into the systems or software used to provide the Services, including
any of PwC Firm's or PwCC's proprietary systems or software, or third party
software, the Parties shall reasonably cooperate to eradicate and reduce the
effects of such Virus and, if the Virus causes a loss of operational efficiency
or loss of data, reasonably cooperate to mitigate any losses of operational
efficiency or data caused by the Virus, with PwC Firm controlling such
remediation efforts.

SECTION 3.12. DISABLING CODE.

         Unless in connection with the termination of a Service or this
Agreement, each Party hereto hereby agrees not to modify any software to insert
or invoke any code that would have the effect of disabling or otherwise
negatively impacting the provision of Services ("Disabling Code"), without the
other Party's prior written consent. If at any time the licensor of any third
party software shall invoke or threaten to invoke any Disabling Code in third
party software licensed to a Party hereunder that could adversely affect the
Services, such Party shall

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<PAGE>
use its commercially reasonable efforts to preclude such action on the part of
such licensor. Each Party acknowledges that "commercially reasonable efforts" in
this case may include provision of a temporary work-around for up to sixty (60)
days to be implemented at Cost to PwCC.

SECTION 3.13. COMPLIANCE WITH LAWS.

         Throughout the Term, in connection with providing and receiving the
Services, PwC Firm and PwCC shall reasonably cooperate to comply with all
material applicable Laws with respect to or affecting the Services, including,
to the extent required for PwC Firm to perform its obligations under this
Agreement, any SEC or other relevant Laws made known to PwC Firm by notice,
required to maintain the status of PwCC as a public company trading on a United
States national securities exchange with a similar market capitalization.

                                   ARTICLE IV
                                      COSTS

SECTION 4.1. COSTS.

         (a) Line Items and Allocation. SCHEDULE D hereto sets forth a separate
line item for the determination of Costs for each Basic Service under this
Agreement. SCHEDULE D also includes the allocation mechanisms and Global Default
Cost Drivers agreed upon by the Parties as of the Closing Date. SCHEDULE E
hereto sets forth separate line items for Costs for Additional Services or
Differing Services. SCHEDULE D and SCHEDULE E shall be amended as necessary.

         (b) Cost-Based Pricing. PwC Firm will charge PwCC for Operating Costs,
and for such other Costs as expressly provided for under this Agreement. The
structure for Operating Costs and other Costs must comply with Section 6 and
other relevant provisions of the SEC No-Action Letter, which specifies that the
charges will be determined as part of an arm's length transaction and, for
Services rendered in accordance with this Agreement, that PwC Firm and the PwC
Member Firms will not make a profit or a loss on providing such Services.

         (c) Cost Drivers. Actual Costs, net of recoverable value-added taxes,
will be used to the extent known, based on the then-current systems and
processes of PwC Firm and PwC Member Firms, as required by Section 6 of the SEC
No-Action Letter. If actual Costs cannot be determined as described herein, Cost
Drivers will be used until such time as PwC Firm develops systems and processes
to determine actual Costs, if ever. "Cost Driver" means the best basis for
approximation of actual Costs which is readily available and determinable from
current practices and processes that measure the Costs of providing a service
(e.g., headcount or square footage for occupancy). "Global Default Cost Drivers"
have been developed for each major Service category, and are attached hereto as
part of SCHEDULE D. The Parties are required to use such Global Default Cost
Drivers unless the Parties have a method for determining costs that is a better
approximation of actual Costs. Where such local alternative Cost Drivers ("Local
Cost Drivers") are used, they are described in the Local Term Sheet. If there
are no Local Cost Drivers or Global Default Cost Drivers which are applicable to
or compatible with the systems then in use by PwC Firm, the Parties will agree
upon appropriate estimations and will use

                                       19
<PAGE>
commercially reasonable efforts to develop Cost Drivers for PwC Firm. The Global
Default Cost Drivers set forth on SCHEDULE D, the Local Cost Drivers and
appropriate estimations developed due to the absence of Local Cost Drivers will
be reviewed at least once each year, and any changes thereto which will result
in the allocation of Costs on a basis closer to actual will be implemented
promptly after such review.

         (d) Budget and True-Up. PwC Firm will perform a true-up for all
Services comparing the actual Costs of the Services performed to the budgeted
costs (a "True-Up") and comparing the budgeted estimates of Cost Drivers with
the actual Cost Drivers, as required under this Agreement. PwCC will have the
right to participate in and review such True-Ups. In connection with budgeting
for the PwCC 2003 fiscal year, the True-Up for the immediately preceding year
will be completed by the earlier of July 1, 2002 or the Closing Date, but may be
performed as of an earlier month end in order to meet such schedule. During the
first twelve (12) months after the Closing Date, on a quarterly basis the
Parties' representatives will meet to review the Costs and, without performing a
True-Up, determine whether any adjustments are necessary so that PwCC has
reasonable assurance that no material adjustment would be required to the PwCC
reported quarterly expenditures in connection with this Agreement. On a
quarterly basis, the Parties shall review anticipated Service Investment Costs,
for at least the next quarter, which may be required to support the Services.
During the Term, the Parties will conduct True-Ups, at such times as PwCC
determines is required for financial reporting purposes, but limited to two (2)
times per year until two (2) consecutive True-Ups confirm that no material
adjustment is required as a result of using the quarterly reviews in place of an
actual True-Up at such times, and thereafter limited to one time per year, and a
final time upon termination or expiration of the Agreement. The budget shall be
adjusted prospectively throughout the year as appropriate to reflect any changes
in Costs associated with a Differing Service or Additional Service or other
changes to Services implemented in accordance with Section 3.1 above. In
preparation of each year's annual budget, the Parties shall convene an annual
budget review meeting, which will include a discussion of any of PwCC's plans
for transitioning any of the Services away from PwC Firm. Each such annual
budget review meeting will also include an assessment of the Organic Growth for
the upcoming year. In addition, at least annually and otherwise in connection
with budgeting hereunder, the Parties shall discuss procurement and other
activities that affect Costs. Notwithstanding the foregoing, in addition to
discussions between the Parties during the above process, PwC Firm shall
promptly notify PwCC at any time that PwC Firm becomes aware of an anticipated
or actual material change in Costs.

         (e) Service Investment Costs, Stranded Costs and Termination Costs. In
connection with any Basic Services as of the Closing Date, unless otherwise
agreed in connection with a Service Change Request, PwCC shall not be obligated
to pay (a) any Service Investment Costs, or (b) any Stranded Costs or
Termination Costs, except as set forth in Section 6.1(b)(iii). In connection
with all other Services, unless otherwise expressly set forth in this Agreement,
including those provided in connection with Organic Growth, PwCC shall be
obligated to pay any Service Investment Costs, Stranded Costs and Termination
Costs. Any such Cost shall become payable as it becomes due, including in
connection with termination of any Service or this Agreement, and a separate
invoice shall be sent therefor. PwC Firm and PwCC shall use reasonable
commercial efforts to reduce Service Investment Costs, Stranded Costs and
Termination Costs.

                                       20
<PAGE>
SECTION 4.2. PAYMENT PROCEDURES.

         (a) Invoices and Payment. On the first of each month, PwC Firm will
deliver to PwCC invoices describing the Services budgeted for such month and the
monthly charges therefor. In accordance with Section 4.1(d), PwC Firm will
perform reviews and True-Ups, and will promptly thereafter invoice or credit any
resulting adjustments in charges if PwC Firm reasonably believes that such
review will result in a material difference for the full term for the budget and
forecast based on the most recently quarterly review. PwCC will pay all amounts
within fifteen (15) days after receipt of an invoice therefor. All disputes
regarding payment shall be governed by Section 12.12(b)(viii). Any
reconciliation will occur no later than thirty (30) days after completion of the
True-Up, and the results thereof shall be set forth on an invoice and, if PwC
Firm owes amounts to PwCC, such amounts shall be reflected as a credit on the
next invoice or, upon termination or expiration of this Agreement, provided to
PwCC by check.

         (b) Payment of Pass-Through Costs. As part of Operating Costs, PwCC
shall pay to PwC Firm costs of goods and services purchased on behalf of PwCC
where such costs are not capitalized or expensed by PwC Firm, but are passed
through directly to PwCC. Such pass-through costs will be separately invoiced to
PwCC based on the actual costs thereof to the extent that such costs are not
addressed in the applicable budget. Payment will be due as stated in the Local
Term Sheet.

         (c) Invoices and Payment by Local Entities. PwCC will pay PwC Firm in
local currency, unless otherwise set forth in the Local Term Sheet.

         (d) Interest. To the extent that PwCC fails to pay (i) to PwC Firm (A)
Costs when due in accordance with the terms herein or (B) any other amounts due
to PwC Firm or (ii) into an escrow account pursuant to Section 12.12(b)(viii),
any disputed Costs when due pursuant to Section 4.2(a) hereof, and such Costs
are disputed by PwCC and finally determined in accordance with the Dispute
Resolution Process to be owing to PwC Firm, in each case, PwC Firm shall receive
interest on such Costs calculated from the due date at the rate equal to PwC
Firm's cost of funds, as set forth on the Local Term Sheet. To the extent that
(A) PwC Firm fails to apply a credit which under this Agreement should have been
applied on the next invoice, or fails to make a payment when due, or (B) PwCC
pays to PwC Firm Costs which are disputed by PwCC and finally determined in
accordance with the Dispute Resolution Process to be owing to PwCC, PwCC shall
receive interest on any such amounts calculated from the date such credits,
Costs or amounts, as applicable, were due or the date of the overpayment, as
applicable, at the rate equal to PwCC's cost of funds, as set forth on the Local
Term Sheet.

SECTION 4.3. REIMBURSABLE TAXES.

         (a) Payment of Taxes. PwCC shall, in addition to the other amounts
payable under this Agreement, pay, or reimburse PwC Firm for the gross amount
of, any present or future sales, use, excise, occupation, privilege,
value-added, gross receipts or other similar Taxes, however designated,
applicable to the sale or provision of any category of Services provided in
connection with this Agreement, except for any income, profits, franchise or
other similar taxes on or measured by income or profits payable by PwC Firm on
amounts it earned, if any, in connection with such Services, and any taxes
applicable to the receipt by PwC Firm of any

                                       21
<PAGE>
payments made pursuant to this Section 4.3 ("Reimbursable Taxes"). Upon request
of PwCC, PwC Firm will provide reasonable written detail regarding any
Reimbursable Taxes for which PwC Firm seeks reimbursement from PwCC.

         (b) Calculation of Reimbursable Taxes. PwCC hereby authorizes PwC Firm
to calculate the total amount of any Reimbursable Taxes and remit the amount of
such Reimbursable Taxes to the appropriate Taxing Authority on behalf of PwCC.
PwC Firm's remittance of any such Reimbursable Taxes on behalf of PwCC shall be
computed by PwC Firm on the basis of the information available to PwC Firm.

         (c) Minimization and Reduction of Taxes. The Parties will use all
commercially reasonable efforts to cooperate to minimize or reduce any taxes
payable in connection with this Agreement.

SECTION 4.4. DOCUMENT RETENTION

         PwC Firm shall maintain appropriate documentation of and for (i) all
financial transactions (including amounts charged to and amounts paid by PwCC)
under this Agreement; (ii) all budgets developed under this Agreement; and (iii)
all True-Ups performed under this Agreement, to the same extent that PwC Firm
maintains for Itself, except upon written notice by PwCC to PwC Firm that higher
level document retention is necessary to comply with SEC, IRS or other
applicable Laws, in which case PwC Firm shall adopt such higher level of
document retention and such Service shall be treated as a Mandatory Differing
Service. Such records shall include data and documentation of third party
charges invoiced to and paid by PwC Firm relevant to this Agreement. PwC Firm
shall retain such records (including any records received by PwC Firm from PwCC
prior to the Closing Date) in accordance with PwC Firm's normal retention
period, and prior to the expiration of such period, notify PwCC and, if PwCC
requests, transfer such records and documentation to PwCC at PwCC's expense. PwC
Firm shall provide access in accordance with Section 3.6 for any period during
which any documents are required to be retained hereunder. Upon termination or
expiration of this Agreement, PwCC and PwC Firm shall mutually agree as to any
records or documentation of which PwC Firm may retain one archive copy and the
appropriate disposal methods for any other records and documentation.

                                   ARTICLE V
                                   GOVERNANCE

SECTION 5.1. PROJECT MANAGERS.

         For purposes of the Services provided in connection with this
Agreement, the Local Project Managers will be supervised by the respective chief
operations officer or other person of similar role for PwC Firm and PwCC.
Project Managers will meet once each PwCC fiscal quarter and otherwise as
reasonably requested by either PwCC or PwC Firm to review performance and the
costs of the Services during such quarter and for the year to date.

                                       22
<PAGE>
SECTION 5.2. OVERSIGHT COUNCIL.

         The Parties hereby agree that the Oversight Council will be responsible
for global coordination of the Services, and assuring the global cooperation
required to achieve the objectives of PwCC and PwC Member Firms, all as set
forth in a memorandum of understanding attached hereto as EXHIBIT B (the "Global
Governance MOU").

SECTION 5.3. IDENTIFICATION OF INDIVIDUALS.

         The individuals and their respective governing roles that constitute
the Project Managers and Oversight Council are identified on SCHEDULE C hereto.

SECTION 5.4. AUTHORITY.

         Upon receipt of a written designation of a representative, a Party will
be entitled to treat an act or communication by the designated representative of
the other Party as a binding act of such other Party. Any Party may replace or
remove a designated representative by providing written notification to the
other Party in the same manner and to the same recipient as the original
designation was provided, unless the Party to receive the notification agrees in
writing to other notification procedures.

SECTION 5.5. COOPERATION.

         The Parties will use good faith efforts to reasonably cooperate with
each other in all matters relating to the provision and receipt of Services, and
shall carry out all obligations hereunder in accordance with principles of good
faith and fair dealing. Such cooperation shall include cooperating to obtain all
applicable governmental or regulatory licenses, authorizations, and permits
required in connection with the performance of Services consistent with past
practices of PwC Firm and to otherwise carry out the obligations under this
Agreement. PwCC shall pay all fees associated with such licenses, authorizations
and permits that solely benefit PwCC, and, as to all other such fees, the
Parties shall agree upon a reasonable allocation of financial responsibility.

SECTION 5.6. PROCEDURES MANUAL.

         Within the time period after the Closing Date specified in the Local
Term Sheet or otherwise within thirty (30) days of the Closing Date, and subject
to the Confidentiality provisions hereof, PwC Firm shall deliver to the PwCC
Project Manager any existing final or draft notes, manuals or other materials
(the "Procedures Manual") known to individuals responsible for providing the
Services or requested by PwCC describing any information regarding the Services,
such as an overview of any Service Levels for Public Company F&A Information
Services and processes and procedures related to the Services, including all
relevant interface, communications, notification and escalation procedures. PwC
Firm shall provide Procedures Manuals to PwCC no less frequently and which are
no less thorough than any similar materials provided to Itself in connection
with services substantially similar to the Services. PwCC may request for PwC
Firm to provide Procedures Manuals to PwCC with respect to any Service selected
by PwCC and containing content reasonably selected by PwCC, as an Additional
Service for which PwCC will pay associated Costs. The Procedures Manual shall
not

                                       23
<PAGE>
constitute a contractual document and shall not be legally binding, and PwC Firm
makes no representation of the accuracy and completeness of its contents. The
provisions of this Agreement shall control and PwCC's acceptance of the
Procedures Manual shall not be deemed a waiver of any rights of PwCC.

                                   ARTICLE VI

                              TERM AND TERMINATION

SECTION 6.1. TERM AND TERMINATION.

         (a) Expiration or Termination of this Agreement. This Agreement will
expire or terminate, and the obligation of PwC Firm to provide or cause to be
provided any Service will cease, on the earliest to occur of (i) the last date
indicated in a notice for the termination of all categories of Services
hereunder, (ii) the date on which the provision of all categories of Services
has terminated or been canceled pursuant to Section 6.2 below, or PwCC's notice
of termination of all Services pursuant to Section 3.7 (Force Majeure), (iii)
three (3) years after the Closing Date for all Services, (iv) upon the
bankruptcy or insolvency of the other Party, or (v) to the extent required by
any Law as soon as reasonably practicable after a Party learns of such Law, and
shall notify the other Party regarding any such requirement as soon as
reasonably possible. The period during which this Agreement is in effect shall
be deemed to be the "Term."

         (b) Termination of Service.

                  (i) If PwCC seeks to terminate a particular Service, to the
extent that such Service is not Segregable from other related Services, PwCC
shall terminate all such related Services at the same time.

                  (ii) Upon one hundred eighty (180) days notice (or such
shorter period for certain Services identified on the Local Term Sheet as to
which notice has been provided prior to the Closing Date), PwCC may terminate or
reduce the volume of a particular Service, or bundle of Services in accordance
with Section 6.1(b)(i), without additional Costs to PwCC, except as expressly
set forth in Section 4.1. Notwithstanding the foregoing, if notice of
termination of any Service was given under the SMOU, the number of days between
the date on which such notice was delivered to PwC Firm and the Closing Date
shall be credited toward the one hundred eighty (180) day notice period for the
termination of such Service.

                  (iii) If PwCC requests to or effectively does terminate or
reduce the volume of a particular Service on less than one hundred eighty (180)
days notice, PwCC shall reimburse PwC Firm for any Incremental Costs, including
Incremental Stranded Costs, Incremental Termination Costs or other Incremental
Costs, actually incurred by PwC Firm as a direct result of the shorter notice
period.

         (c) Payment Obligations. Any obligation of PwCC to make payment of
Costs of any Services previously rendered in accordance with this Agreement, or
of PwC Firm to provide credit for refunds or other adjustments, shall not be
affected by the expiration of the Term or the termination of this Agreement and
shall continue until full payment is made.

                                       24
<PAGE>
         (d) Termination Efforts. PwCC intends to use reasonable best efforts to
terminate the Services hereunder as soon as is reasonably practicable.

SECTION 6.2. BREACH OF AGREEMENT.

         If either Party, its Affiliate or Subsidiary shall cause or suffer to
exist any material breach of any of such entity's material obligations under
this Agreement, and that entity does not cure such default in all material
respects within thirty (30) days after receiving written notice thereof from the
non-breaching party, the non-breaching party shall have the right to terminate
(i) if such breach affects Services whose Operating Costs constitute not more
than fifty percent (50%) of all Operating Costs, only the affected Service or
Services (in the case of a Service, subject to termination of related Services
as set forth in Section 6.1(b)(i)), or (ii) if such breach affects Services
whose Operating Costs constitute fifty percent (50%) or more of all Operating
Costs, this Agreement, in whole or in part, at the option of the non-breaching
Party, in each case such termination to be effective with respect to the
terminated Service or Services, immediately upon provision of written notice of
termination, and the non-breaching Party shall have no further obligations
except as expressly provided hereunder. Upon such termination of this Agreement,
in whole or in part, as applicable, PwCC shall be liable for payment of Costs as
set forth in Section 4.1 and Section 6.1(b)(iii), except, if such termination is
due to PwC Firm's material breach which is not cured within the above period,
PwCC shall not be responsible for any Costs that are Incremental and directly
attributable to the termination of a Service resulting from a breach.

SECTION 6.3. SAVINGS CLAUSE.

         Notwithstanding any provision herein to the contrary, PwC Firm shall
have the right to terminate this Agreement and cease providing Services only in
the event that: (a) PwCC fails to pay any undisputed amounts for Services in
excess of 2.5% of the aggregate amount of the first year's budget for more than
ten (10) Business Days after receiving notice of PwC Firm's intent to terminate,
based on PwCC's material breach of the payment provisions and failure to timely
cure; or (b) PwCC has materially breached its confidentiality obligations
hereunder and, within thirty (30) days of PwC Firm's notice alleging such
breach, has not provided reasonable evidence that it has taken all necessary
corrective actions to prevent recurrence; or (c): PwCC has materially breached
its obligations under Section 3.4(e) above (No Resale) (e.g., material
violations would include PwCC's receiving material compensation from resale by
PwCC to its clients of network capacity provided by PwC Firm) and, within thirty
(30) days of PwC Firm's notice alleging such breach, has not provided reasonable
evidence that it has taken all necessary corrective actions to prevent
recurrence.

SECTION 6.4. TERMINATION/EXPIRATION RIGHTS.

         (a) Property. Upon termination or expiration of this Agreement for any
reason, or upon PwCC's notice of termination of any Service, (i) if PwCC desires
to assume ownership, leasehold interest or other applicable control over real
estate, Facilities, equipment and other property, or to become the assignee of
third party contracts or assignable warranties, that were wholly dedicated to
providing such Service or Services, PwC Firm shall provide reasonable
cooperation and shall not interfere with PwCC's efforts (PwCC acknowledges that

                                       25
<PAGE>
third party contracts may require approval by such third parties prior to the
assignment being effective) and (ii) PwC Firm shall provide PwCC with one (1)
copy of all PwC Firm Developed Intellectual Property and PwCC Developed
Intellectual Property (including any source code for Software and related
documentation) and, provided that all third party consents required upon such
termination or expiration are obtained at PwCC's expense, Third Party
Intellectual Property used in providing the Services (including any source code
for Software and related Documentation) not previously transferred to PwCC by
PwC Firm. Reasonable assistance shall include providing all relevant
documentation and information necessary for PwCC to make a reasonably informed
assessment of the financial and other relevant facts, and all contact
information and introductions necessary for PwCC to undertake negotiations, if
any, necessary for PwCC to assume control over the relevant property.

         (b) Certain Assets. Upon termination of a Service, or termination or
expiration of this Agreement, PwC Firm shall (i) transfer to PwCC title and
possession to Assets used for providing any such terminated Services and for
which PwCC pays Stranded Costs pursuant to Section 4.1(e), and which are (A)
wholly dedicated to PwCC or (B) Segregable and for which PwCC agrees to pay any
Costs for achieving Segregation; and (ii) assign to PwCC all rights and
obligations under leases for Assets (e.g., personal computers and vehicles)
wholly dedicated to PwCC's use; provided that PwC Firm shall pay costs, if any,
of obtaining consents to such assignments.

SECTION 6.5. TRANSITION ASSISTANCE.

         (a) Performance. Upon or prior to the expiration or termination of this
Agreement or any Service hereunder for any reason, PwC Firm shall provide
reasonable termination assistance (at Cost except as set forth below) to PwCC or
its designee, including commercially reasonable cooperation with third parties
to facilitate the orderly transfer of Services to another provider or PwCC;
provision of data in formats which PwC Firm maintains or, if PwC Firm cannot
provide data in such formats, in formats reasonably required by PwCC; access to
the personnel providing Services; noninterference with PwCC's exercise of its
termination rights as described in this Agreement; provision of written
documentation used in providing the Services; and such other transition
assistance as may be specified in the applicable Local Term Sheet (collectively,
the "Transition Assistance"). PwCC shall not be responsible for any Incremental
Costs for Transition Assistance which result from a breach by PwC Firm or the
timing of any such breach. If this Agreement is terminated as a result of PwCC's
material breach, PwC Firm may demand that any performance of Transition
Assistance be conditioned upon pre-payment into an escrow account of reasonable
anticipated costs therefor. PwCC has the option to request that PwC Firm begin
providing Transition Assistance for any Service or part thereof at any time;
provided that if such request is made, in the case of expiration, more than six
(6) months prior to the expiration of the Term, or in case of termination, prior
to any notice of termination as required hereunder, PwC Firm shall have the
option to decline. PwCC shall use its reasonable efforts to minimize the extent
of requested Transition Assistance.

         (b) Measurement and Monitoring Tools. In connection with a bona fide
plan for transitioning a Service away from PwC Firm, if PwCC requires specific
historical performance measurements, reasonably consistent with industry
practices, PwC Firm shall provide, as a Mandatory Differing Service, at PwC
Firm's option, either: (i) such specific

                                       26
<PAGE>
historical measurements and reports reasonably consistent with industry
practices, or (ii) PwCC reasonable access, subject to the restrictions contained
in Section 3.6(b) and Section 3.6(g), to personnel, information and Facilities
to enable PwCC to implement the necessary measurement and monitoring tools and
procedures required to measure and report PwC Firm's performance of the
Services; in either case, so as to develop benchmarks of the Services for use in
obtaining services from others.

                                  ARTICLE VII

                         INTELLECTUAL PROPERTY AND DATA

SECTION 7.1. INTELLECTUAL PROPERTY.

         (a) Acquired Intellectual Property. PwCC grants (or shall cause its
Affiliates or Subsidiaries, as applicable to grant) to PwC Firm a limited,
royalty-free, world-wide, non-transferable, non-exclusive license in the
Acquired Intellectual Property solely to the extent required to perform the
Services during the Term.

         (b) PwC Firm Intellectual Property. PwC Firm grants (or shall cause its
Affiliates or Subsidiaries, as applicable, to grant) to PwCC a license to PwC
Firm Intellectual Property to the extent required to receive the Services during
the Term. If so requested by another PwC Member Firm to consent, and/or grant a
license to PwCC (or its Affiliates or Subsidiaries) for any PwC Firm
Intellectual Property to the extent required for such other PwC Member Firm to
provide Services to PwCC (or its Affiliates or Subsidiaries), PwC Firm hereby
agrees to so consent to such license and/or to grant to PwCC (or its Affiliates
or Subsidiaries) such license to the extent that PwCC (or its Affiliates or
Subsidiaries) requires such consent or license.

         (c) Third Party Intellectual Property. PwC Firm shall, to the extent
necessary to provide the Services use its reasonable commercial efforts to: (i)
maintain licenses and maintenance agreements for Third Party Intellectual
Property required for provision of the Services, (ii) for all new Third Party
Intellectual Property, obtain licensed authorization for use and disclosure by
and to PwC Firm's employees or agents; (iii) implement Extensions of Third Party
Intellectual Property, (A) for Software used by or for Itself, as required for
the provision of Services at the same time to PwCC, to be the same release as
releases used by or for Itself, and (B) for Software wholly dedicated to PwCC,
to be no more than one release behind the current publicly available release,
unless PwCC approves a delay in installation, which approval shall not be
unreasonably withheld; and (iii) if requested by PwCC, replace or add (to the
extent that PwC Firm is permitted by, and subject to, all applicable terms and
conditions of agreements pertaining to such Third Party Intellectual Property)
to such Third Party Intellectual Property required to be used by or for PwCC in
connection with Differing Services or Additional Services implemented in
accordance with Section 3.1(c). PwCC shall pay all Costs associated with the
foregoing Services. In providing the Services, a Party hereto shall not violate
Third Party Intellectual Property rights; provided that the sole remedy for
breach of this Subsection shall be to seek indemnification pursuant to Article X
and further provided that breach of this Subsection shall not provide a basis
for termination of this Agreement or any Service hereunder.

                                       27
<PAGE>
         (d) Extensions to Third Party Intellectual Property. With respect to
any Extensions to Third Party Intellectual Property used hereunder, each Party
shall obtain for the other Party rights to such Extensions to the extent allowed
by the relevant third party and to the extent required to provide or receive the
Services hereunder.

SECTION 7.2. OWNERSHIP OF DEVELOPED INTELLECTUAL PROPERTY.

         (a) PwCC Developed Intellectual Property. "PwCC Developed Intellectual
Property" shall mean (i) any Extensions to Acquired Intellectual Property made
or created by PwC Firm during the Term in connection with the Services; and (ii)
any Software written during the Term by PwC Firm in connection with any
Additional Service for the sole use of PwCC, provided that PwC Firm and PwCC may
agree in writing that such Software shall be excluded and shall not be deemed to
be PwCC Developed Intellectual Property.

         (b) Rights in PwCC Developed Intellectual Property. As between PwCC and
PwC Firm, PwCC shall be the sole and exclusive owner of PwCC Developed
Intellectual Property. All PwCC Developed Intellectual Property shall be
considered works for hire owned by PwCC. If any such PwCC Developed Intellectual
Property is not considered a work made for hire under applicable law, PwC Firm
hereby irrevocably assigns, transfers and conveys to PwCC, without further
consideration, all of PwC Firm's right, title and interest in and to such PwCC
Developed Intellectual Property, including all rights of patent, copyright,
trade secret or other proprietary rights in such materials. PwC Firm
acknowledges that PwCC and the assigns of PwCC shall have the right to obtain
and hold in their own name any Intellectual Property rights in and to the PwCC
Developed Intellectual Property. PwC Firm shall execute any documents and take
any other actions reasonably requested by PwCC to accomplish the purposes of
this Section 7.2(b). If for any reason PwCC fails to obtain ownership of the
PwCC Developed Intellectual Property and such ownership is vested in PwC Firm or
its employees or agents, PwC Firm agrees to (i) promptly and legally transfer
such PwCC Developed Intellectual Property to PwCC wherever possible and (ii)
wherever not possible, promptly grant to PwCC a license as broad as the
Exploitation License, but without any restrictions whatsoever. Except as may
otherwise be agreed upon in writing, PwCC grants to PwC Firm an Exploitation
License in the PwCC Developed Intellectual Property, except for any and all
Extensions to any Intellectual Property listed on the Global IP Schedule which
are noted as "Exclusive Use," and any and all Extensions to any Intellectual
Property not listed on the Global IP Schedule but used in the Consulting
Business on or prior to the Closing Date which, if such Intellectual Property
had been listed on such schedule, would have been noted thereon as "Exclusive
Use" based on an application of the principles that governed the preparation of
the Global IP Schedule.

         (c) PwC Firm Developed Intellectual Property. Except as may otherwise
be agreed upon in writing, PwC Firm grants to PwCC in connection with the
Services, an Exploitation License to the following, which shall be defined as
"PwC Firm Developed Intellectual Property": (i) all Extensions to the PwC Firm
Intellectual Property (not subject to a consent which is not available to PwC
Firm) used to provide the Services, and (ii) all other Intellectual Property
proprietary to PwC Firm for which PwCC pays Service Investment Costs.

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<PAGE>
SECTION 7.3. RESERVATION OF RIGHTS.

         (a) Intellectual Property. Except as expressly set forth in this
Agreement: (i) each Party shall retain all right, title and interest to its
Intellectual Property; (ii) neither Party shall, by virtue of this Agreement or
otherwise, acquire any proprietary rights in the other Party's Intellectual
Property; and (iii) the provisions of this Agreement shall not be deemed to
grant a Party a license, either express or implied, to any of the other Party's
Intellectual Property rights or Confidential Information.

         (b) Residuals. Nothing contained in this Agreement shall restrict
either Party from the use of any ideas, concepts, know-how, methodologies,
processes, technologies, algorithms, techniques, arrangements, depictions or
presentations relating to the Services, which such Party, individually or
jointly with the other Party hereto, develops or discloses under this Agreement
or obtains from third parties, except to the extent that such use infringes the
other Party's Intellectual Property rights or involves a disclosure or use of
the other Party's Confidential Information. Notwithstanding the foregoing, all
Confidential Information of each Party belong exclusively to such Party, but
shall be used only for archival purposes or as otherwise expressly agreed
hereunder, all subject to the confidentiality provisions of Article VIII.

SECTION 7.4. PWCC OWNERSHIP OF DATA.

         (a) Ownership of Data. All PwCC Data shall remain the sole and
exclusive property of PwCC (subject to any PwC Firm rights retained under the
Rollup Agreement) and shall be deemed Confidential Information of PwCC. PwCC
Data shall not be: (i) used by PwC Firm other than in connection with providing
the Services; (ii) disclosed, sold, assigned, leased or otherwise provided to
third parties by PwC Firm other than as required in connection with providing
the Services; or (iii) commercially exploited by or on behalf of PwC Firm, or
their respective employees or agents. All PwC Firm Data shall remain the sole
and exclusive property of PwC Firm and shall be deemed Confidential Information
of PwC Firm. PwC Firm Data shall not be (i) used by PwCC other than in
connection with receiving the Services; (ii) disclosed sold, assigned, leased or
otherwise provided to third parties by PwCC other than as required in connection
with receiving the Services; or (iii) commercially exploited by or on behalf of
PwCC, or its respective employees or agents.

         (b) Return of PwCC Data. PwC Firm shall upon request by PwCC during
Transition Assistance, promptly return to PwCC, in the format and on the media
in use as of the date of request, all or any requested portion of the PwCC Data,
and, upon termination of all Transition Assistance, erase or destroy all PwCC
Data in PwC Firm's possession; provided that as may be required to comply with
Section 4.4, PwC Firm may retain one (1) copy of PwCC Data for archival
purposes, subject to mutually agreed upon security and confidentiality measures
to be implemented by PwC Firm. PwCC shall reimburse PwC Firm for additional
costs, if any, actually incurred by PwC Firm in providing as a Differing Service
the PwCC Data in the format and media requested by PwCC.

         (c) Destroyed or Lost PwCC Data. To the extent PwCC Data is Segregable,
PwC Firm shall use commercially reasonable efforts to separate PwCC Data from
all other data so that only PwCC authorized persons (including PwC Firm
personnel providing Services with a

                                       29
<PAGE>
need to access) have access to such PwCC Data at Cost. To the extent that PwCC
Data is Segregable from other data, PwC Firm shall (i) adequately mark or
otherwise identify the PwCC Data as PwCC's property; and (ii) provided the
Parties agree on an Additional Service, store the PwCC Data separately from PwC
Firm's property including PwC Firm's data. In the event any material PwCC Data
is lost or destroyed due to any negligent act or omission of PwC Firm, then PwC
Firm shall be responsible for the prompt regeneration or replacement of such
PwCC Data. PwC Firm shall use commercially reasonable efforts and act promptly
to ensure that the loss of PwCC Data does not have an adverse effect upon PwCC's
business or the Services. PwCC agrees to cooperate with PwC Firm to provide any
available information, files or raw data needed for the regeneration of the
material PwCC Data. If PwC Firm fails to regenerate the lost or destroyed PwCC
Data within the time reasonably set by PwCC, then PwCC may obtain data
reconstruction services from a third party, and PwC Firm shall reasonably
cooperate with such third party as requested by PwCC. PwC Firm will be
responsible for the reasonable actual costs incurred by PwCC for the
reconstruction of PwCC Data by a third party subject to the limitations of
Article XI with respect to claims.

                                  ARTICLE VIII

                                 CONFIDENTIALITY

SECTION 8.1. DEFINITIONS.

         (a) "Disclosing Party" means the Party furnishing Confidential
Information and "Receiving Party" means the Party receiving the Confidential
Information disclosed by the Disclosing Party.

         (b) "Confidential Information" means non-public material information of
either Party or of a third party, including information:

                  (i) relating to the Disclosing Party's software or hardware
products or services, or to its research and development projects or plans;

                  (ii) relating to the Disclosing Party's business, policies,
strategies, operations, finances, plans or opportunities, including the identity
of, or particulars about, the Disclosing Party's clients; and

                  (iii) marked or otherwise identified as confidential,
restricted, secret or proprietary, including, without limiting the generality of
the foregoing, information acquired by inspection or oral disclosure provided
such information was identified as confidential at the time of disclosure or
inspection and is confirmed in writing within ten (10) Business Days after the
disclosure or inspection;

         Notwithstanding the foregoing, Confidential Information does not
include information that the Receiving Party can establish:

                           (A) has become generally available to the public or
commonly known in either Party's business other than as a result of a breach by
the Receiving Party of any obligation to the Disclosing Party;

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<PAGE>
                           (B) was disclosed to the Receiving Party on a
non-confidential basis by a third party who had a lawful right to disclose the
information to the Receiving Party without any obligation to restrict its
further use or disclosure;

                           (C) was independently developed by the Receiving
Party without any recourse to any part of the Confidential Information as
evidenced by a contemporaneous writing;

                           (D) is published incident to patent application
prosecution;

                           (E) that the Parties agree in writing will not be
treated as Confidential Information; or

                           (F) was generated, produced or became available to
PwC Firm before the Closing Date; provided that the Rollup Agreement shall
govern if inconsistent with the effect of this Subsection 8.1(vi).

         (c) "Confidential Materials" means the part of any tangible media upon
or within which any part of the Confidential Information is recorded or
reproduced in any form, excluding any storage device which forms a part of
computer hardware.

SECTION 8.2. RIGHTS, RESTRICTIONS AND OBLIGATIONS OF THE RECEIVING PARTY.

         (a) During the Term, the Receiving Party may:

                  (i) disclose Confidential Information received from the
Disclosing Party only to its subcontractors, agents, representatives, advisors,
partners, principals, employees, officers and directors and affiliates who have
a need to know such information exclusively for the purpose of executing its
obligations or exercising its rights under this Agreement and, in the case of
third parties, provided that, prior to disclosure to any such third party, the
Disclosing Party applies its current internal practices with regard to
disclosure and protection of its own Confidential Information to third parties.

                  (ii) reproduce the Confidential Information received from the
Disclosing Party only as required to execute its obligations or exercise its
rights under this Agreement; and

                  (iii) disclose Confidential Information as legally required by
any Law, order of a court of competent jurisdiction or in connection with
governmental regulatory or disciplinary proceedings by governmental entity with
competent jurisdiction, provided that the Receiving Party where permissible
gives the Disclosing Party prompt notice and reasonable cooperation prior to
such disclosure to allow the Disclosing Party to make a reasonable effort to
obtain a protective order or otherwise protect the confidentiality of such
information and limit the scope and effect of such order.

         (b) Except as otherwise specifically provided in this Agreement, the
Receiving Party shall not during the Term and after expiration or earlier
termination of this Agreement:

                                       31
<PAGE>
                  (i) disclose, in whole or in part, any Confidential
Information received directly or indirectly from the Disclosing Party; or

                  (ii) sell, rent, lease, transfer, encumber, pledge, reproduce,
publish, transmit, translate, modify, reverse engineer, compile, disassemble,
reconfigure, market, distribute or otherwise use the Confidential Information in
whole or in part.

         (c) The Receiving Party shall exercise the same care in preventing
unauthorized disclosure or use of the Confidential Information that it takes to
avoid unauthorized disclosure, publication or dissemination of its own
information of a similar nature. Notwithstanding any provision herein, as to
PwCC Confidential Information used or obtained in connection with Public Company
F&A Information Services, PwC Firm shall use care which in no event is less than
the care required under the policies and procedures of PwC Firm and PwC Member
Firms to protect the Confidential Information of clients for whom PwC Member
Firms perform audits.

         (d) The Receiving Party acknowledges that:

                  (i) the Disclosing Party possesses and will continue to
possess Confidential Information that has been created, discovered or developed
by or on behalf of the Disclosing Party, or otherwise provided to the Disclosing
Party by third parties, which information has commercial value and is not in the
public domain;

                  (ii) unauthorized use or disclosure of Confidential
Information is likely to cause injury not readily measurable in monetary
damages, and therefore is irreparable;

                  (iii) in the event of an unauthorized use or disclosure of
Confidential Information, the Disclosing Party shall be entitled, without
waiving any other rights or remedies, to such injunctive or equitable relief as
may be deemed proper by a court of competent jurisdiction; and

                  (iv) subject to the rights expressly granted to the Receiving
Party in this Agreement, the Disclosing Party and its licensors retain all
right, title and interest in and to the Confidential Information, including
title to all Confidential Materials regardless of whether provided by or on
behalf of the Disclosing Party or created by the Receiving Party.

SECTION 8.3. RETURN OF CONFIDENTIAL MATERIALS.

         Except as set forth in Section 7.4(b) with respect to retention for
archive purposes, and subject to any rights retained by PwC Firm under the
Rollup Agreement, immediately upon the request by the other Party, and at the
expiration or earlier termination of this Agreement, a Party shall use
commercially reasonable efforts to: (i) return or destroy all Confidential
Materials of the other Party and any third party to which such Party has a duty
or obligation related to the Confidential Information to be returned or
destroyed, including all originals, copies, reproductions and summaries of such
other Party's Confidential Information; and (ii) destroy all copies of such
other Party's Confidential Information in its possession, power or control,
which are present on magnetic media, optical disk, volatile memory or other
storage device, in a manner that assures such Confidential Information is
rendered reasonably unrecoverable, or

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<PAGE>
otherwise dispose of all copies of such other Party's Confidential Information
as directed by the other Party. Upon completion of those tasks an officer of the
Party with the obligation to return or destroy Confidential Materials shall
provide written confirmation to the other Party of its compliance with the
requirements of this Section 8.3.

                                   ARTICLE IX

                   REPRESENTATIONS AND WARRANTIES; DISCLAIMER

SECTION 9.1. MUTUAL REPRESENTATIONS AND WARRANTIES.

         Each Party represents and warrants that, on the Closing Date:

         (a) it has reviewed the services that were provided under the SMOU, has
cooperated to clarify any outstanding issues regarding identification of
services which were provided under the SMOU, and, in the finalization of the
Schedules attached hereto, has cooperated to expressly identify those Services
which had been provided pursuant to the SMOU which will no longer be required
after the Closing Date on SCHEDULE A-1;

         (b) as to PwCC, it has conducted, and, as to PwC Firm, it has assisted
PwCC in its conduct of, a PwCC global project to define the Public Company F&A
Information Services and to include the resulting description of such Public
Company F&A Information Services applicable to this Agreement, including
appropriate service level metrics, performance standards, and required levels of
remediation, in SCHEDULE A-3 and SCHEDULE B hereto and in connection with such
Services, PwCC shall have sole responsibility for public company reporting and
compliance with SEC Laws, and PwCC acknowledges that, PwC Firm shall have no
such responsibility; notwithstanding the foregoing, PwC Firm shall have the
obligation to perform the Public Company F&A Information Services as provided
for in SCHEDULE A-3 and SCHEDULE B and in accordance with Section 3.1(c)(i)(A);

         (c) it has designated in writing one person to be a point of contact
for Public Company F&A Information Services, one person to be a point of contact
for Technology Solutions Services, one person to be Local Project Manager, and
other Key Personnel, and such individuals are designated in SCHEDULE C hereto;

         (d) it has requested the chief executive of its global organization to
appoint four (4) individuals to serve on an Oversight Council responsible for
coordination of the Services under all Rollup Agreements, and to manage the
global relationship of the PwCC Affiliates and the PwC Member Firms in
connection with this Agreement and similar agreements and to mediate disputes
arising under the Rollup Agreement;

         (e) it has requested the Oversight Council to create a global
governance memorandum of understanding to assure the global cooperation and
coordination required to achieve the objectives of the parties to this Agreement
and similar agreements and such global memorandum of understanding is attached
hereto and made a part hereof as EXHIBIT B, and it accepts and ratifies the
authority of the Oversight Council as set forth in such EXHIBIT B;

                                       33
<PAGE>
         (f) it has requested the chief executive of its global organization to
appoint a Global Project Manager to be responsible for the coordination of the
global relationship between PwCC's Affiliates and the PwC Member Firms, and it
accepts and ratifies the authority of such Global Project Manager to address
global issues arising from or relating to this Agreement as described in EXHIBIT
B; and

         (g) it has reviewed and agreed to the pricing mechanism for the
Services to be provided under the Agreement (including (i) a determination of
the allocation formulas for Service Investment Costs, Operating Costs,
Termination Costs and Stranded Costs and (ii) establishment of Cost Drivers) and
has described the Cost of each Service to be provided as of the Closing Date by
line item in SCHEDULE D hereto.

SECTION 9.2. PWC FIRM BUDGETS.

         PwC Firm represents and warrants that by the earlier of July 1, 2002 or
the Closing Date, and covenants that, no later than thirty (30) days prior to
the end of each PwCC fiscal year during the Term, PwC Firm shall formulate, at
such level of accounting detail as is reasonable and practicable, a budget
estimating the actual Costs (including, if applicable, any Cost Drivers) that
constitute the monthly charges for Services, and PwCC represents, warrants and
covenants, as applicable to cooperate with PwC Firm in connection therewith.

SECTION 9.3. DISCLAIMER.

         TO THE EXTENT PERMITTED BY LAW, AND EXCEPT AS EXPRESSLY SET FORTH IN
THIS AGREEMENT, AND ANY EXHIBIT OR SCHEDULE HERETO, THE SERVICES WILL BE
PROVIDED WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF
MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.

                                   ARTICLE X

                                 INDEMNIFICATION

SECTION 10.1. MUTUAL INDEMNIFICATION.

         Subject to the limitation set forth in Article XI, each Party (the
"Indemnifying Party") shall indemnify, defend and hold harmless the other Party
and any partner, principal, director, officer, employee, successor and permitted
assign of the other Party (each, an "Indemnified Party") from and against any
and all Losses, incurred or suffered by any Indemnified Party to the extent that
the Losses arise by reason of, or result from claims by third parties arising
from, relating to or in connection with the breach of the provisions of this
Agreement by the Indemnifying Party or negligence causing death, personal injury
or damage to real or tangible personal property, gross negligence, fraud or
reckless or willful misconduct of the Indemnifying Party. Notwithstanding the
above, this Section 10.1 shall not apply to a claim to the extent caused by
breach, negligence or other fault of the Indemnified Party and/or any contract
personnel or any other agents who are managed and directed by the Indemnified
Party.

                                       34
<PAGE>
SECTION 10.2. LOSSES NET OF INSURANCE.

         The amount of any Loss for which indemnification is provided under this
Article X shall be net of any amounts actually recovered by the Indemnified
Party under insurance policies with respect to such Loss and any such amounts
actually recovered by any Indemnified Party to the extent relating to any Loss
previously paid by any Indemnifying Party hereunder shall be paid over promptly
to such Indemnifying Party.

SECTION 10.3. PROCEDURES RELATING TO THIRD PARTY CLAIMS.

         (a) Notice of Third Party Claim. In order for the Indemnified Party to
be entitled to any indemnification pursuant to this Article X in respect of,
arising out of or involving a claim or demand made by any person other than a
party hereto against the Indemnified Party (a "Third Party Claim"), such
Indemnified Party must notify the Indemnifying Party in writing of the Third
Party Claim promptly, and in any event within twenty (20) Business Days, after
receipt by such Indemnified Party of notice of the Third Party Claim; provided
that failure to give such notification shall not affect the indemnification
provided under this Agreement except to the extent the Indemnifying Party shall
have been actually and materially prejudiced as a result of such failure.
Thereafter, the Indemnified Party shall deliver to the Indemnifying Party
promptly, and in any event within ten (10) Business Days, after the Indemnified
Party's receipt thereof, copies of all notices and documents (including court
papers) received by the Indemnified Party relating to the Third Party Claim,
subject to third party confidentiality restrictions; provided that failure to
make such delivery shall not affect the indemnification provided under this
Agreement except to the extent the Indemnifying Party shall have been actually
and materially prejudiced as a result of such failure.

         (b) Defense of Third Party Claim. If a Third Party Claim is made
against an Indemnified Party, the Indemnifying Party shall be entitled to
participate in the defense thereof and, if it so chooses and acknowledges its
obligation to fully indemnify the Indemnified Party therefore in accordance with
this Agreement, to assume and control the defense thereof with counsel selected
by the Indemnifying Party and reasonably acceptable to the Indemnified Party
(which acceptance shall not be unreasonably withheld, delayed or conditioned).
Should the Indemnifying Party so elect to assume the defense of a Third Party
Claim, the Indemnifying Party shall not be liable to the Indemnified Party for
legal expenses subsequently incurred by the Indemnified Party in connection with
the defense thereof. Except as set forth in the Local Term Sheet, if the
Indemnifying Party assumes such defense, the Indemnified Party shall have the
right to participate in the defense thereof and to employ at its own expense
counsel separate from the counsel employed by the Indemnifying Party, it being
understood that the Indemnifying Party shall control such defense, subject to
the remaining terms of this Section. The Indemnifying Party shall be liable for
the reasonable fees and expenses of one primary counsel, and to the extent
reasonably required in connection with such Third Party Claim, one or more local
counsel, and such other counsel as may be reasonably required due to a conflict
among indemnified parties, in each case employed by the Indemnified Party for
any period during which the Indemnifying Party has not assumed the defense
thereof. If the Indemnifying Party chooses to defend or prosecute any Third
Party Claim, PwCC and PwC Firm shall cooperate and shall cause its Affiliates or
PwC Member Firms, respectively, to cooperate in the defense or prosecution
thereof. Such cooperation shall include the retention and (upon the Indemnifying
Party's

                                       35
<PAGE>
request) the provision to the Indemnifying Party of records and information that
are reasonably relevant to such Third Party Claim, and making employees
available on a mutually convenient basis to provide additional information and
explanation of any material provided hereunder. Whether or not the Indemnifying
Party assumes the defense of a Third Party Claim, the Indemnified Party shall
not admit any liability with respect to, or settle, compromise or discharge,
such Third Party Claim without the Indemnifying Party's prior written consent
(which consent shall not be unreasonably withheld, delayed or conditioned). If
the Indemnifying Party assumes the defense of a Third Party Claim, the
Indemnified Party shall agree to any settlement, compromise or discharge of such
Third Party Claim that the Indemnifying Party may recommend and that by its
terms (or pursuant to a binding commitment of the Indemnifying Party) obligates
the Indemnifying Party to pay the full amount, which releases the Indemnified
Party completely in connection with such Third Party Claim. Notwithstanding the
foregoing, the Indemnifying Party shall not be entitled to assume the defense of
any Third Party Claim (and shall be liable for the reasonable fees and expenses
of one primary counsel, and to the extent reasonably required in connection with
such Third Party Claim, one or more local counsel, and such other counsel as may
be reasonably required due to a conflict among indemnified parties, incurred by
the Indemnified Party in defending such Third Party Claim) if the Third Party
Claim seeks an order, injunction or other equitable relief or relief for other
than money damages against the Indemnified Party that the Indemnified Party
reasonably determines, after conferring with its outside counsel, cannot be
separated from any related claim for money damages. If such equitable relief or
other relief portion of the Third Party Claim can be so separated from that for
money damages, the Indemnifying Party shall be entitled to assume the defense of
the portion relating to money damages.

                                   ARTICLE XI

                                   LIABILITIES

SECTION 11.1. LIMITATION OF LIABILITY.

         (a) Limitation of Liability. IN NO EVENT SHALL EITHER PARTY'S AGGREGATE
LIABILITY TO THE OTHER PARTY ARISING OUT OF, BASED UPON OR IN CONNECTION WITH
THIS AGREEMENT EXCEED THE AGGREGATE FEES (I.E., "COSTS" AS DEFINED HEREIN) PAID
OR PAYABLE FOR THE SERVICES UNDER THIS AGREEMENT DURING THE SIX (6) MONTHS
IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM (OR, IF THE FIRST SUCH
EVENT GIVING RISE TO LIABILITY OCCURS DURING THE FIRST SIX (6) MONTHS AFTER THE
CLOSING DATE, THE AGGREGATE FEES BUDGETED PURSUANT TO SCHEDULE D HERETO TO BE
PAYABLE UNDER THIS AGREEMENT DURING SUCH SIX (6) MONTH PERIOD). NOTWITHSTANDING
THE FOREGOING, THE LIMITATION OF LIABILITY WITH RESPECT TO (I) SECTION 10.1
(INDEMNIFICATION) AND (II) breach by A PARTY OF ITS obligations with respect to
Confidential INFORMATION IF, WITHIN THIRTY (30) DAYS OF NOTICE ALLEGING SUCH
BREACH, SUCH PARTY HAS NOT PROVIDED REASONABLE EVIDENCE THAT IT HAS TAKEN
NECESSARY CORRECTIVE ACTIONS TO PREVENT RECURRENCE, each SHALL BE CALCULATED
BASED ON A TWELVE (12) MONTH RATHER THAN A SIX (6) MONTH PERIOD.

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<PAGE>
         (b) Exceptions. THE FOREGOING LIMITATIONS SHALL NOT APPLY TO: (I)
LOSSES CAUSED BY A PARTY'S GROSS NEGLIGENCE OR INTENTIONAL MISCONDUCT; OR (II)
AMOUNTS DUE AND OWING FOR SERVICES RENDERED IN ACCORDANCE WITH THIS AGREEMENT OR
CREDITS OR REPAYMENTS DUE AND OWING BY PWC FIRM TO PWCC IN ACCORDANCE WITH THIS
AGREEMENT.

SECTION 11.2. CONSEQUENTIAL AND OTHER DAMAGES.

         NEITHER PWC FIRM NOR PWCC SHALL BE LIABLE, WHETHER IN CONTRACT, TORT OR
OTHERWISE, BUT EXCLUDING WILLFUL MISCONDUCT, FOR ANY SPECIAL, PUNITIVE,
INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES (OR DAMAGES DUE TO LOSS OF
BUSINESS OR PROFITS) WHATSOEVER WHICH ARISE OUT OF THIS AGREEMENT, EVEN IF
ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

                                  ARTICLE XII

                                  MISCELLANEOUS

SECTION 12.1. ASSIGNMENT.

         This Agreement shall be binding upon and enforceable by, and shall
inure to the benefit of, the Parties hereto and their respective successors and
permitted assigns. Neither this Agreement nor any rights or obligations
hereunder may be assigned or otherwise transferred by PwCC without the prior
written consent of PwC Firm, which, except for assignment to a Subsidiary
receiving services under the MOU or SMOU in existence on the Closing Date
(provided that such Subsidiary shall discontinue any such right or obligation if
there is a change in Control of such Subsidiary), may be withheld in its sole
discretion. PwC Firm may assign this Agreement or any rights or obligations
hereunder to any entity without the prior consent of PwCC, provided that (i)
such assignment shall not relieve PwC Firm of its obligations hereunder without
the consent of PwCC, which shall not be unreasonably withheld; (ii) if, as a
result of such assignment, there is an increase in taxes which would otherwise
be payable by PwCC hereunder, such increased taxes shall be payable by PwC Firm
rather than PwCC; (iii) to the extent PwCC has increased Costs resulting from
such assignment, compared to costs PwC Firm experiences for Itself, PwCC shall
not be charged for such increased Costs and (iv) PwC Firm shall obtain all
required consents from third parties at its expense. The provision of Services
hereunder to any assignee in connection with this Section 12.1 is subject to the
receipt of any applicable third party consents. PwC Firm hereby agrees to use
commercially reasonable efforts to obtain any such consents and PwCC agrees
hereby to pay all Costs associated therewith. No such delegation by a Party
hereto will in any way affect any rights and obligations of the Parties under
this Agreement. Upon a Change of Control of [Bermudaco], PwCC shall promptly
notify PwC Firm of such Change of Control (as defined in Exhibit C), but in no
event shall such notice be delivered more than five (5) Business Days after such
Change of Control. Any purported assignment or transfer in violation of this
Section will be null and void and of no effect. Unless waived by PwC Firm, the
continued provision of Services hereunder shall be conditioned on (A) the
modification of the Term to be the lesser of the then-remaining Term and one
year from the date of such notice; and (B) provided that the terms of the
No-Action Letter shall permit, the

                                       37
<PAGE>
payment by PwCC, in addition to Costs, of a reasonable gross profit consistent
with gross profits obtained by commercial providers of services similar to the
Services.

SECTION 12.2. NO THIRD PARTY BENEFICIARIES.

         Except as specifically provided herein, this Agreement is for the sole
benefit of the Parties hereto and their permitted assigns and nothing herein
expressed or implied shall give or be construed to give to any person, other
than the Parties hereto and such permitted assigns, any legal or equitable
rights hereunder, whether as third party beneficiaries or otherwise.

SECTION 12.3. AMENDMENTS.

         No amendment to this Agreement will be effective unless it is in
writing and signed by an authorized representative of each Party.

SECTION 12.4. CONSENTS AND APPROVALS.

         For any matter under this Agreement requiring the consent or approval
of any Party to be valid and binding on the Parties hereto, such consent or
approval must be in writing, and, unless otherwise expressly provided herein,
such consent or approval shall not be unreasonably withheld or delayed.

SECTION 12.5. WAIVERS.

         No failure or delay of any Party in exercising any right or remedy
hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any such right or power, or any abandonment or discontinuance of
steps to enforce such a right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The rights and remedies of
the Parties hereunder are cumulative and are not exclusive of any rights or
remedies which they would otherwise have hereunder. No provision of this
Agreement may be waived except pursuant to a writing executed by the waiving
Party.

SECTION 12.6. NOTICES.

         All notices or other communications required or permitted to be given
hereunder shall be in writing and shall be delivered by email, hand or sent by
facsimile or sent, postage prepaid, by registered, certified or express mail or
reputable overnight courier service and shall be deemed given when so delivered
by hand or facsimile, or if mailed, three days after mailing (one Business Day
in the case of express mail or email, facsimile or by hand or overnight courier
service), as set forth in the Local Term Sheet (or at such other address for a
Party as will be specified by notice given in accordance with this Section).

SECTION 12.7. EXHIBITS AND SCHEDULES; INTERPRETATION.

         The headings contained in this Agreement or in any Exhibit or Schedule
hereto and in the table of contents to this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this
Agreement. All Exhibits and Schedules annexed hereto or referred to herein are
hereby incorporated in and made a part of this Agreement. When

                                       38
<PAGE>
a reference is made in this Agreement to a Section, Article, Exhibit or
Schedule, such reference shall be to a Section or Article of, or an Exhibit or
Schedule to, this Agreement unless otherwise indicated. For all purposes hereof,
the terms "include" and "including" will be deemed followed by the words
"without limitation". The words "hereof", "herein" and "hereunder" and words of
similar import when used in this Agreement will refer to this Agreement as a
whole and not to any particular provision of this Agreement. The term
"commercially reasonable" shall be construed in the context of a cost-based
transaction.

SECTION 12.8. COUNTERPARTS.

         This Agreement may be executed in one or more counterparts (including
by facsimile), all of which shall be considered one and the same agreement, and
shall become effective when one or more such counterparts have been signed by
each of the parties and delivered to the other parties.

SECTION 12.9. ENTIRE AGREEMENT.

         This Agreement, including the schedules, exhibits, annexes and
attachments hereto, contains the entire agreement and understanding between the
Parties hereto with respect to the subject matter hereof and supersedes all
prior agreements and understandings relating to such subject matter.

SECTION 12.10. SEVERABILITY.

         If any provision of this Agreement or the application of any such
provision to any person or circumstance will be held invalid, illegal or
unenforceable in any respect by a court of competent jurisdiction, such
invalidity, illegality or unenforceability shall not affect any other provision
hereof provided, however, the principal purposes of this Agreement shall be
preserved and shall not be affected.

SECTION 12.11. SURVIVAL.

         The following Articles and Sections of this Agreement shall survive any
termination or expiration of this Agreement: Article I, Sections 3.2(c), 3.6(b),
3.6(g), 3.7, 3.8, 4.1(d), 4.1(e), 4.2, 4.3, 4.4, 5.2, 5.4, 6.1(b)(iii), 6.1(c),
6.2, 6.4, 6.5, 7.2(a), 7.2(b), 7.3, 7.4, Article VIII, Sections 9.1(e), 9.1(f),
Articles X, XI and this Article XII.

SECTION 12.12. CONSENT TO JURISDICTION; REFERENCE TO ARBITRATION.

         (a) Each of the Parties irrevocably submits, and agrees to cause each
of their respective Subsidiaries to irrevocably submit to the exclusive
jurisdiction (i) the state courts of New York, and (ii) the Federal courts
located in the State of New York, or any other jurisdiction agreed upon by the
Parties in connection with the dispute, for the purposes of any suit, action or
other proceeding to compel arbitration pursuant to paragraph (b) below or to
enforce any award determined in accordance with paragraph (b) below (and each
agrees that no such action, suit or proceeding relating to the foregoing shall
be brought by it or any of its Subsidiaries except in such courts). Each of the
Parties further agrees, and agrees to cause their respective Subsidiaries to
agree, that service of any process, summons, notice or document by notice in the
form

                                       39
<PAGE>
acceptable under the Rollup Agreement to such person's respective address set
forth above shall be effective service of process for any action, suit or
proceeding in the Rollup Jurisdiction with respect to any matters to which it
has submitted to jurisdiction as set forth above in the immediately preceding
sentence. Each of the Parties irrevocably and unconditionally waives (and agrees
not to plead or claim), and agrees to cause their respective Subsidiaries to
irrevocably waive, any objection to the laying of venue of any action, suit or
proceeding arising out of this Agreement or the transactions contemplated herein
in (A) the state courts of New York located in the Borough of Manhattan or (B)
the Federal courts located in the State of New York in the Borough of Manhattan,
or that any such action, suit or proceeding brought in any such court has been
brought in an inconvenient forum.

         (b) If a dispute among the Parties hereto arises out of or arises in
connection with this Agreement or the Services, including a claim of
deficiencies in the quality of the Services, the PwC Firm and PwCC Local Project
Managers will notify the Global Project Managers of the existence and details of
the dispute, and will meet in person within the number of days specified in the
Local Term Sheet, or otherwise within thirty (30) days. Notwithstanding the
preceding sentence, the Parties may specify different levels and time frames for
the resolution of disputes in a Local Term Sheet, provided that the aggregate
time frame of such dispute resolution is no greater than thirty (30) days from
the date a Party is notified of a dispute. If the Parties' Local Project
Managers are unable to resolve the dispute, the Parties' Global Project Managers
will address the dispute and will meet in person within thirty (30) days unless
otherwise agreed. If the dispute is not resolved pursuant to the foregoing
procedures within thirty (30) days, the dispute will be referred to the
Oversight Council for mediation to occur within thirty (30) days.
(Notwithstanding the foregoing, the Parties will abide by the non-binding
mediation and coordination process of the Oversight Council in accordance with
EXHIBIT B.) If any dispute arising out of or in connection with this Agreement
(including the validity, scope and enforceability of this Section 12.12(b)) is
not resolved within thirty (30) days after referral to the Oversight Council for
resolution, such dispute shall be finally settled by arbitration pursuant to the
then-existing Rules of Arbitration of the International Chamber of Commerce
before a single arbitrator, subject to the procedures set forth in items (i)
through (viii) below. Notwithstanding the immediately preceding sentence, the
Parties shall defer until termination or expiration of this Agreement
arbitration of claims involving solely monetary amounts for past performance
which in the aggregate do not equal or exceed the threshold amount set forth on
the Local Term Sheet (which in no event shall be more than twenty-five thousand
United States dollars (US$25,000)); provided that upon expiration or termination
of this Agreement, the Parties may pursue arbitration for any remaining claims
regardless of their value. Any disputes among the Parties relating to Public
Company F&A Information Services of this Agreement shall also be subject to the
"fast track" arbitration provisions described in the Local Term Sheet, in which
case the time periods above shall be fifteen (15) days rather than thirty (30)
days. Each thirty (30) day or fifteen (15) day period described above shall be
deemed to commence on the date of a notice from any Party describing the
particular dispute.

                  (i) The seat of the arbitration shall be London, England, or
any other jurisdiction agreed upon by the Parties in connection with the
arbitration, as set forth in the Rollup Agreement. However, hearings may be held
in New York, London or Geneva, as the party or parties against whom the
arbitration is sought shall specify or agree (as the case may be)

                                       40
<PAGE>
or, in the absence of such specification or agreement within 15 days of the
request for arbitration, the arbitrator shall decide.

                  (ii) The Parties to the dispute may select an arbitrator who
is a national of the same country as one of the parties. If the parties to the
dispute fail to agree on the selection of an arbitrator within 15 days from the
date on which the request for arbitration was notified to the other parties to
the dispute, any party to the dispute may apply to the International Chamber of
Commerce to make the appointment.

                  (iii) The Parties shall use reasonable best efforts to ensure
that such arbitration proceedings are conducted expeditiously and acknowledge
that the arbitrator appointed shall have the power to issue procedural
directions for such purposes.

                  (iv) In the event that the International Chamber of Commerce
appoints an arbitrator pursuant to paragraph (ii) above, any party to the
arbitration shall have the right to challenge the individual appointed on the
grounds that such individual is a competitor of any of the parties, provided
that such challenge is made within fifteen (15) days of the International
Chamber of Commerce notifying such appointment. The challenging Party shall give
reasons for its challenge to the proposed arbitrator. The International Chamber
of Commerce Court shall have the final decision as to whether the individual
concerned is in fact a competitor.

                  (v) The arbitrator shall conduct the proceedings in the
English language or such other language as agreed upon by the Parties in
connection with the arbitration. The arbitrator shall decide in accordance with
the terms of this Agreement, after taking into account the customs and usage of
the profession applicable to the transaction.

                  (vi) The arbitrator shall have the power, if requested by any
party to any arbitral proceedings under this Section 12.12(b), to order those
proceedings to be consolidated with any other arbitral proceedings arising out
of or in connection with this Agreement. The arbitrator may also order that
concurrent hearings of such proceedings be held. The Parties shall comply with
any such order for consolidation or joinder and the arbitrator shall have the
power to make a single award in respect of any number of arbitral proceedings
which have been so consolidated or joined. The Parties shall not seek to
challenge any award so rendered on the grounds that they were not a Party to the
arbitration or arbitrations under which the award was made.

                  (vii) Other than with respect to compelling arbitration
pursuant to this Section 12.12(b) or with respect to enforcing any award
determined in accordance with this Section 12.12(b), the parties hereto renounce
all recourse to litigation to the extent not inconsistent with applicable law
and acknowledge that the award of the arbitrator shall be final and that neither
the procedures followed by the arbitrator nor the award shall be subject to
review by any court (including on any question of law arising out of the award),
except as may otherwise be required by applicable law. Judgment with respect to
any award may be entered in any court having jurisdiction over the parties
hereto or their assets.

                  (viii) Performance by the Parties hereto under this Agreement
shall continue if reasonably possible during any disagreement or arbitration
proceedings and no

                                       41
<PAGE>
amounts payable to any party thereunder shall be withheld on account of such
disagreement or proceedings, provided that if the payment of any such amounts
exceeding such amount as set forth in the Local Term Sheet in the aggregate is
the subject of disagreement or arbitration, any of such parties may discharge
their obligations hereunder or thereunder by making payment into an
interest-bearing escrow account to be established for such purpose. Upon the
resolution of the dispute, such escrowed amounts, plus the applicable
proportionate amount of accrued interest, shall be disbursed in accordance with
the decision of the arbitrator or as otherwise resolved.

SECTION 12.13. GOVERNING LAW.

         This Agreement will be governed by, and construed in accordance with,
the internal laws of the State of New York, without regard to the laws that
might otherwise govern under applicable principles of conflict of laws thereof.

SECTION 12.14. REMEDIES.

         Unless otherwise specified in this Agreement, each Party's rights and
remedies are cumulative and not exclusive, are in addition to any other rights
and remedies provided at law, in equity, or under this Agreement, and may be
pursued separately or concurrently as such Party determines.

                                       42
<PAGE>
                  IN WITNESS WHEREOF, the Parties have caused this Agreement to
be executed by their duly authorized officers as of the date first written
above.

                                   [PWC FIRM]

                                        By:

                                             -----------------------------------
                                             Name:
                                             Title:

                                   [BermudaCo] or [Luxco] or [Bermudaco's local
                                   affiliate]

                                        By:

                                             -----------------------------------
                                             Name:
                                             Title:

                                       43
<PAGE>
                         LIST OF EXHIBITS AND SCHEDULES

Exhibit A         Local Term Sheet

Exhibit B         Global Governance Memorandum of Understanding

Exhibit C         Change of Control

Schedule A        Description of Services

         Schedule A-1     List of Omitted Services Provided Under SMOU or MOU

         Schedule A-2     Obligations of PwCC

         Schedule A-3     Description of Public Company F&A Information Services

Schedule B        Service Levels

Schedule C        Key Personnel

Schedule D        Costs, Allocation Mechanisms and Cost Drivers

Schedule E        Costs for Differing Services and Additional Services

Schedule F        Required Insurance

                                       44
<PAGE>
                                                                       EXHIBIT C
                                                                   TO TRANSITION
                                                              SERVICES AGREEMENT

"CHANGE OF CONTROL" means:

         (1) any event resulting in any "person" or "group" (as such terms are
         used in Section 13(d) and 14(d) of the Exchange Act), other than one or
         more Permitted Holders or their Related Parties, becoming the
         beneficial owner (as defined in Rules 13d-3 and 13d-5 under the
         Exchange Act), directly or indirectly, of more than 25% of the total
         voting power of the Voting Stock of [Bermudaco] (or its successor by
         merger, consolidation or purchase of all or substantially all of its
         assets) and (B) the Permitted Holders or their Related Parties
         "beneficially own" (as defined in said Rules 13d-3 and 13d-5), directly
         or indirectly, in the aggregate a lesser percentage of the total voting
         power of the Voting Stock of [Bermudaco] (or its successor by merger,
         consolidation or purchase of all or substantially all of its assets)
         than such other person and do not have the right or ability by voting
         power, contract or otherwise to elect or designate for election a
         majority of the board of directors of [Bermudaco] or such successor;

         (2) any event resulting in the sale, lease, exchange, transfer,
         conveyance or other disposition (other than by way of merger or
         consolidation), in one or a series of related transactions, of all or
         substantially all of the assets of [Bermudaco] taken as a whole to any
         "person" or "group" (as such terms are used in Sections 13(d) and 14(d)
         of the Exchange Act) other than one or more Permitted Holders or their
         Related Parties; or

         (3) any event resulting in [Bermudaco] consolidating with, or merging
         with or into, any Person, or an event resulting in any Person
         consolidating with, or merging with or into, [Bermudaco], in any such
         event pursuant to a transaction in which any of the outstanding Voting
         Stock of [Bermudaco] is converted into or exchanged for cash,
         securities or other property, other than any such transaction where the
         Voting Stock of [Bermudaco] outstanding immediately prior to such
         transaction is converted into or exchanged for Voting Stock of the
         surviving or transferee Person constituting a majority of the
         outstanding shares of such Voting Stock of such surviving or transferee
         Person immediately after giving effect to such transaction;

provided that the ownership of Voting Stock of [Bermudaco] by persons or groups
underwriting the IPO shall not be deemed a Change of Control.

"PERMITTED HOLDERS" means [the partners of the PwC Member Firms one day prior to
the Closing Date who are no longer partners of the PwC Member Firms one day
after the Closing Date, the [LHS pension trusts] and the [RHS voting trust],
Bermudaco and any Affiliate or Related Person thereof.]
<PAGE>
"PERSON" means any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, limited
liability company, government or any agency or political subdivision thereof or
any other entity.

"RELATED PARTY" with respect to any Permitted Holder means:

         (1) the stockholder of all of the equity securities of or the
         wholly-owned subsidiary of such Permitted Holder or, in the case of an
         individual, any spouse or immediate family member of such Permitted
         Holder, any trust created for the sole benefit of such individual or
         such individual's estate, executor, administrator, or other personal
         representatives or beneficiaries;

         (2) any trust, partnership or other entity, all of the whose
         beneficiaries, partners or, owners are Permitted Holders and/or such
         other Persons referred to in the immediately preceding clause (1); or

         (3) any entity whose shares or interests are beneficially owned in
         whole by a Permitted Holder and/or such other Persons referred to in
         clause (1).

"VOTING STOCK" of a corporation means any and all classes of capital stock of
such corporation then outstanding and entitled to vote in the election of
directors, or excluding such shares which are not voted in accordance with the
No-Action Letter.
<PAGE>
                                    EXHIBIT A

                                LOCAL TERM SHEET

                  This Local Term Sheet is an exhibit to that certain Transition
Services Agreement, dated as of ______________, 2002, between _________ and
__________.

<TABLE>
<CAPTION>
ITEM AND REFERENCE TO TRANSITION                            TERM
SERVICES AGREEMENT, IF APPLICABLE
<S>                                          <C>
Local law requirement(s) (and any            As a result of requirement(s) of
resulting clarification(s)):                 local law, the following section(s)
                                             of the Transition Service Agreement
                                             shall be modified as follows (the
                                             Parties may also provide for any
                                             rights or obligations in connection
                                             with such requirement(s) of local
                                             law, provided that the principal
                                             purposes, and the benefits and
                                             burdens, of the Transition Services
                                             Agreement are not changed):

                                             For example, the commercial
                                             agreement between the Parties
                                             requires PwCC Firm to pay
                                             termination costs of PwC Firm
                                             employees providing Basic Services
                                             as of the Closing Date. If under
                                             local law, such employees are
                                             deemed to be transferred to PwCC,
                                             and therefore PwCC must pay
                                             termination costs, the Parties
                                             should negotiate an indemnity from
                                             PwC Firm for such costs (and
                                             exclude these costs from the
                                             overall liability cap) in order to
                                             achieve the same intended
                                             commercial result.
</TABLE>
<PAGE>
<TABLE>
<S>                                          <C>
Time periods (general):                      The following time period(s),
                                             except as related to Public F&A
                                             Information Services, shall be
                                             modified from what is stated in the
                                             terms and conditions of the
                                             Transition Services as follows:

                                             Examples of the above are:

                                             Timing of payment of pass through
                                             costs. Section 4.2(b)

                                             Time (less than 180 day(s)) for
                                             termination notice for certain
                                             ancillary services. Section
                                             6.1(b)(ii).

                                             Cure periods after written notice
                                             of breach. Section 6.2.

                                             Local Project Manager periodic
                                             meeting. Section 12.12(b).

Moves to new locations (Section              The following moves to a new
3.1(c)(ii)):                                 location are planned by PwCC:

                                             Parties will update this Local Term
                                             Sheet to reflect the date the
                                             notice required under Section
                                             3.1(c)(ii) is received by PwC Firm.

Exceptions to independent                    The following are circumstances in
contractor status (Section 3.4(a)):          which PwC Firm and any of its
                                             permitted designees shall perform
                                             as agents, not independent
                                             contractors, of PwCC:

Resale and existing and future               The following accommodations for
customers (Section 3.4(e)):                  certain existing customers and
                                             future customers shall be made:
                                             The following accommodations for
                                             certain existing customers and
                                             future customers shall be made:

Access for certain types of                  The following access to records and
customers (Section 3.6(b)):                  information is agreed to for the
                                             PwCC customers identified on an
                                             attachment hereto:
</TABLE>

                                       2
<PAGE>
<TABLE>
<S>                                          <C>
Access for PwCC employees and                The following are additional
agents (Section 3.6(e)):                     provisions relating to access of
                                             specifically-designated PwCC
                                             employees and agents of PwC Firm
                                             and PwC Member Firms' systems,
                                             Facilities and data:

Local Cost Drivers (Section                  The following are local
4.1(c)):                                     alternatives to Global Cost
                                             Drivers:

Additional True-Ups (Section                 The following are additional time
4.1(d)):                                     periods during which True-Ups will
                                             be performed:

Payment and interest (Sections               Amounts shall be paid in the
4.2(c) and (d)):                             following currency (only if other
                                             than local currency):

                                             The following time period is the
                                             period after which late payment
                                             charges apply:

                                             The following interest rate charge
                                             shall apply for late payments:

Procedures Manual (Section 5.6)              The following shall be the time
                                             period (if other than within thirty
                                             (30) days of Closing Date) in which
                                             PwC Firm will deliver the
                                             Procedures Manual to the PwCC
                                             Project Manager:

Notice periods for termination of            The following is the date that
Service (Section 6.1(b)(ii)):                notice of termination of a Service
                                             was provided prior to the Closing
                                             Date, for each applicable Service:
</TABLE>

                                       3
<PAGE>
<TABLE>
<S>                                          <C>
Additional Transition Assistance             PwC Firm shall provide the
(Section 6.5(a)):                            following transition assistance:

Participation and control of                 The following are the terms for
defense (Section 10.3(b)):                   participation, including retention
                                             of separate counsel, by the
                                             Indemnified Party and control of
                                             defense by the Indemnifying Party:

Notices (Section 12.6):                      The notices under Section 12.6 of
                                             the Agreement will be provided as
                                             follows:

                                             if to PwC firm, ___________________

                                             with a copy to:____________________

                                             if to PwCC, _______________________

                                             with a copy to:____________________

Informal dispute resolution levels           In addition to the Local Project
and time periods for resolution              Manager process for the initial
(12.12(b))                                   resolution of disputes under the
                                             Agreement, the following additional
                                             levels of processes will be made
                                             part of the initial dispute
                                             resolution process in the following
                                             timeframes (with the aggregate
                                             timeframe for such initial
                                             resolution process (i.e. before
                                             reference to the Global Project
                                             Managers) not to exceed thirty (30)
                                             days from the date a Party is
                                             notified of a dispute pursuant to
                                             Section 12.12 (b) of the
                                             Agreement):
</TABLE>

                                       4
<PAGE>
<TABLE>
<S>                                          <C>
Minimum threshold amount for                 The Parties shall defer until
arbitration (12.12(b)):                      termination or expiration of the
                                             Agreement arbitration of claims
                                             solely involving monetary amounts
                                             for past performance which in the
                                             aggregate do not equal or exceed
                                             (amount to be specified shall not
                                             exceed US$25,000):

Fast track arbitration (Section              The following "Fast track"
12.12(b)):                                   arbitration provisions for Public
                                             Company F&A Information Services
                                             shall be in effect:

Escrow for payments in dispute               Minimum aggregated disputed amounts
(12.12(b)(viii)):                            for purposes of discharging
                                             obligations under. Section 12.12(b)
                                             (viii).

Service schedules:                           The attached Schedules, which
                                             include service levels, are
                                             incorporated by reference as part
                                             of the Transition Services
                                             Agreement as if fully set forth
                                             therein.

                                             Joint venture(s) affiliated with a
                                             Party may be addressed in
                                             connection with the Services.

Related agreements and                       The following additional agreements
understandings:                              and understandings (in addition to
                                             the Supplemental Memorandum of
                                             Understanding) that relate to the
                                             Services have been entered into by
                                             the Parties:

Transitional services provided by            The following services will be
PwCC to PwC Firm:                            provided by PwCC to PwC Firm on a
                                             transitional basis as of the
                                             Closing Date and in conformance
                                             with the SEC No Action Letter:

                                             The Parties may agree to apply all,
                                             some or none of the terms and
                                             conditions of the form of Agreement
                                             to such services.
</TABLE>

                                       5

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