Document:

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                                                                   EXHIBIT 10.73

                               FIRST AMENDMENT TO
                       LIMITED LIABILITY COMPANY AGREEMENT
                                       OF
                           @VENTURES PARTNERS III, LLC

         THIS FIRST AMENDMENT, dated as of the 15th day of October, 2000, to the
Limited Liability Company Agreement dated as of June 30, 1999 (the "Agreement"),
of @Ventures Partners III, LLC, a Delaware limited liability company (the
"LLC"), is by and among the persons named as Members on Schedule A to the
Agreement. Capitalized terms used herein, and not otherwise defined herein,
shall have the respective meanings ascribed to them in the Agreement.

         For good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Members hereby amend the Agreement as follows.

         1. Amendment to Section 4.02 to Allow Certain Hedging Activities.
Section 4.02 of the Agreement is hereby amended by adding, at the end thereof,
the following subsection (f):

                  "(f) The LLC may, at the request and on behalf of any Managing
         Member, engage in hedging activities with respect to securities held in
         the Vesting Escrow of such Managing Member, provided that (i) a
         Majority in Number of the Voting Managing Members approves in advance
         any such hedging activities; (ii) the Managing Member for whose benefit
         the hedging activities were undertaken bears all of the costs incurred
         in connection with such activities and indemnifies the LLC in writing
         with respect to any costs or losses incurred by the LLC in connection
         with any such activities; and (iii) the securities held in such
         Managing Member's Vesting Escrow may not be used to settle any "hedged"
         position until such time as such securities are released to such
         Managing Member from such Vesting Escrow.

                  The Voting Managing Members, by action of Two-thirds in Number
         thereof, may determine to engage in hedging activities with respect to
         all of the LLC's securities of a Portfolio Company which are held in
         Vesting Escrows, in which case all Managing Members for whom a Vesting
         Escrow which includes such Portfolio Company security shall be bound by
         such hedging arrangements. If the Managing Members determine to hedge
         Portfolio Company securities pursuant to the preceding sentence, the
         Managing Members shall bear all of the costs incurred in connection
         with such activities and indemnify the LLC in writing with respect to
         any costs or losses incurred by the LLC in connection with any such
         activities; and the securities held in the Managing Members' Vesting
         Escrows may not be used to settle any "hedged" position until such time
         as such securities are released to the Managing Members from such
         Vesting Escrow.

                  The Managing Members agree and acknowledge that, if the LLC
         has engaged in hedging activities with respect to securities held in a
         Vesting Escrow pursuant to and in accordance with this Section 4.02(f),
         and an Event of Forfeiture occurs with respect to a

                                       -1-

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         Member whose Vesting Escrow includes such hedged securities, then the
         Managing Members who are entitled to a share of the forfeited Vesting
         Escrow which includes such "hedged" securities will receive "hedged"
         securities upon such forfeiture. In no event shall the Capital Member
         or the LLC bear any of the costs associated with any hedging activities
         permitted by this Section. Except as permitted in this Section 4.02(f),
         the LLC shall not engage in any other hedging activities except with
         the prior approval of the Capital Member."

         2. No Other Amendments. In all other respects, the Agreement is hereby
ratified and confirmed.

                            [Signature pages follow.]

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         IN WITNESS WHEREOF, the undersigned have executed this Amendment as of
the date first above written.

                                    CAPITAL MEMBER:

                                    CMG @VENTURES CAPITAL CORP.

                                    By /s/ Illegible
                                       --------------------------------------

                                    Name
                                        -------------------------------------

                                    Title
                                         ------------------------------------

                                    MANAGING MEMBERS:

                                    /s Guy A. Bradley
                                    -----------------------------------------
                                    Guy A. Bradley

                                    /s/ Jonathan Callaghan
                                    -----------------------------------------
                                    Jonathan Callaghan

                                    /s/ Brad Garlinghouse
                                    -----------------------------------------
                                    Brad Garlinghouse

                                    /s/ Andrew J. Hajducky III
                                    -----------------------------------------
                                    Andrew J. Hajducky, III

                                    /s/ Denise W. Marks
                                    -----------------------------------------
                                    Denise W. Marks

                                    /s/ Peter H. Mills
                                    -----------------------------------------
                                    Peter H. Mills

                                    /s/ David J. Nerrow
                                    -----------------------------------------
                                    David J. Nerrow, Jr.

                                    /s/ Marc Poirier
                                    -----------------------------------------
                                    Marc Poirier

                                    /s/ David S. Wetherell
                                    -----------------------------------------
                                    David S. Wetherell

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                                                                   EXHIBIT 10.74

                     LIMITED LIABILITY COMPANY AGREEMENT OF
                            @ VENTURES INVESTORS, LLC

         THIS LIMITED LIABILITY COMPANY AGREEMENT of @ Ventures Investors, LLC
(the "LLC"), dated as of July 31, 1999, is by and among the persons named on
Schedule A attached hereto, each of whom is designated as either a Class A
Member or a Class B Member.

         WHEREAS, the LLC was formed as a limited liability company pursuant to
the Delaware Limited Liability Company Act, by the filing, on August 3, 1998, in
the Office of the Secretary of State of the State of Delaware, of a Certificate
of Formation for the LLC (the "Certificate"); and

         WHEREAS, the Members desire to enter into this Agreement to set forth
the agreements among the Members with respect to the LLC, all as more fully set
forth herein.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, and in consideration of the
agreements hereinafter set forth, the parties hereby agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

         The following capitalized terms used in this Agreement shall have the
respective meanings ascribed to them below:

         "Act" means the Delaware Limited Liability Company Act, in effect at
the time of the initial filing of the Certificate with the Office of the
Secretary of State of the State of Delaware, and as thereafter amended from time
to time.

         "Affiliate" shall mean, with respect to any specified person or entity,
(i) any person or entity that directly or indirectly controls, is controlled by,
or is under common control with such specified person or entity; (ii) any person
or entity that directly or indirectly controls 10% or more of the outstanding
equity securities of the specified entity or of which the specified person or
entity is directly or indirectly the owner of 10% or more of any class of equity
securities; (iii) any person or entity that is an officer of, director of,
manager of, partner in, or trustee of, or serves in a similar capacity with
respect to, the specified person or entity or of which the specified person or
entity is an officer, director, partner, manager or trustee, or with respect to
which the specified person or entity serves in a similar capacity; or (iv) any
person that is a spouse, mother, father, brother, sister or lineal descendant of
the specified person.

         "Agreement" means this Limited Liability Company Agreement as it may be
amended, supplemented, or restated from time to time.

         "Capital Account" means a separate account maintained for each Member
and adjusted in accordance with Treasury Regulations under Section 704 of the
Code. To the extent consistent with such Treasury Regulations, the adjustments
to such accounts shall include the following:

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                  (i) There shall be credited to each Member's Capital Account
         the amount of any cash actually contributed by such Member to the
         capital of the LLC, the fair market value of any property contributed
         by such Member to the capital of the LLC, the amount of liabilities of
         the LLC assumed by the Member or to which property distributed to the
         Member was subject and such Member's share of the Net Profits of the
         LLC and of any items in the nature of income or gain separately
         allocated to the Members; and there shall be charged against each
         Member's Capital Account the amount of all cash distributions to such
         Member, the fair market value of any property distributed to such
         Member by the LLC, the amount of liabilities of the Member assumed by
         the LLC or to which property contributed by the Member to the LLC was
         subject and such Member's share of the Net Losses of the LLC and of any
         items in the nature of losses or deductions separately allocated to the
         Members.

                  (ii) If the LLC at any time distributes any of its assets
         in-kind to any Member, the Capital Account of each Member shall be
         adjusted to account for that Member's allocable share of the Net
         Profits, Net Losses or items thereof that would be realized by the LLC
         if it sold the assets that were distributed at their respective fair
         market values (taking Code Section 7701(g) into account) immediately
         prior to their distribution.

                  (iii) If elected by the LLC in accordance with Section 6.01(b)
         hereof, at any time specified in Treasury Regulation Section
         1.704-1(b)(2)(iv)(f), the Capital Account balance of each Member shall
         be adjusted to the extent provided under such Treasury Regulation to
         reflect the Member's allocable share (as determined under Article V) of
         the items of Net Profits or Net Losses that would be realized by the
         LLC if it sold all of its property at its fair market value (taking
         Code Section 7701(g) into account) on the day of the adjustment.

         "Carrying Value" means, with respect to any asset, the asset's adjusted
basis for federal income tax purposes; provided, however, that (i) the initial
Carrying Value of any asset contributed to the LLC shall be adjusted to equal
its gross fair market value at the time of its contribution and (ii) the
Carrying Values of all assets held by the LLC shall be adjusted to equal their
respective gross fair market values (taking Code Section 7701(g) into account)
upon an adjustment to the Capital Accounts of the Members described in paragraph
(iii) of the definition of "Capital Account." The Carrying Value of any asset
whose Carrying Value was adjusted pursuant to the preceding sentence thereafter
shall be adjusted in accordance with the provisions of Treasury Regulation
Section 1.704-1(b)(2)(iv)(g).

         "Certificate" means the Certificate of Formation creating the LLC, as
it may, from time to time, be amended in accordance with the Act.

         "Class A Member" shall refer severally to any person named as a Class A
Member in this Agreement and any person who becomes an additional, substitute or
replacement Class A Member as permitted by this Agreement, in such person's
capacity as a Class A Member of the LLC. "Class A Members" shall refer
collectively to all such persons in their capacities as Class A Members.

         "Class B Member" shall refer severally to any person named as a Class B
Member in this Agreement and any person who becomes an additional, substitute or
replacement Class B Member as permitted by this Agreement, in such person's
capacity as a Class B Member of the LLC. "Class B Members" shall refer
collectively to all such persons in their capacities as Class B Members.

         "CMGI" means CMGI Inc., a Delaware corporation.

         "CMGI Fund" means CMG @ Ventures III, LLC, a Delaware limited liability
company.

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         "CMGI Fund Agreement" means the Limited Liability Company Agreement of
the CMGI Fund, as from time to time amended and in effect.

         "Code" means the Internal Revenue Code of 1986, as amended from time to
time.

         "Distributable Cash and Property", with respect to any particular
Investment shall mean, with respect to any fiscal period, the excess of all cash
receipts and property of the LLC from such Investment, including dividends or
distributions in respect of such Investment, proceeds from a capital transaction
relating to such Investment, and any and all other sources (but excluding
capital contributions of the Members) over the sum of:

                  (i) Any and all expenses of the LLC related directly or
         indirectly to such Investment (except to the extent such expenses are
         reattributed to one or more other Investments pursuant to clause (ii)
         below), including an allocable share of the following types of LLC
         expenses:

                           (A) cash disbursements for all items which are
                  customarily considered to be "operating expenses";

                           (B) payments of interest, principal and premium and
                  points and other costs of borrowing under any indebtedness of
                  the LLC;

                           (C) payments made to purchase or sell securities, and
                  brokerage commissions, finders fees and transaction costs;

                           (D) payments made to purchase inventory or capital
                  assets, and for capital construction, rehabilitation,
                  acquisitions, alterations and improvements; and

                           (E) amounts set aside as reserves for working
                  capital, contingent liabilities, replacements or for any of
                  the expenditures described in clauses (A), (B), (C) and (D)
                  above which are deemed by the Class B Members (in their
                  reasonable discretion) to be necessary to meet the current and
                  anticipated future needs of the LLC; and

                  (ii) The amount of expenses described in clause (i) above that
         (A) are attributable to another Investment (the "Other Investment"),
         (B) are not paid from the receipts of cash and property attributable to
         the Other Investment as a result of the total expenses attributable to
         the Other Investment for the fiscal period exceeding the total receipts
         of cash and property attributable to the Other Investment for the
         fiscal period and (C) are paid from the receipts of cash and property
         in respect of the Investment for which the computation of Distributable
         Cash and Property is being made (the "First Investment"); provided,
         however, that if Distributable Cash and Property with respect to the
         First Investment is reduced as a result of this clause (ii), a
         corresponding amount of the next amount of Distributable Cash and
         Property with respect to the Other Investment shall be treated as a
         receipt attributable to the First Investment.

For purposes of determining Distributable Cash or Property in respect of any
particular Investment, the Class B Members shall allocate all LLC expenses of
the types described in clauses (i) and (ii) above among all Investments and to
Other Cash Receipts in such manner as they may reasonably determine.

         "Distributable Other Cash" means, with respect to any fiscal period,
the excess of Other Cash Receipts over the sum of the types of expenses
described in clause (i) of the definition of "Distributable Cash and Property"
which the Class B Members reasonably allocate to Other Cash Receipts.

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         "Domestic Fund" means @ Ventures III, L.P., a Delaware limited
partnership.

         "Domestic Fund Agreement" means the Limited Partnership Agreement of
the Domestic Fund, as from time to time amended and in effect.

         "Employer" shall mean the LLC, the Management Company, any Fund, CMGI
or any Affiliate of any of them. For purposes of this Agreement, a Portfolio
Company shall not constitute an Affiliate of any of the LLC, any Fund or CMGI
(and a Member shall not be deemed to be employed by the Employer if such Member
is employed by a Portfolio Company), unless the Class B Members specifically
elect in writing treat a Portfolio Company as an Affiliate and such Portfolio
Company falls within the definition of "Affiliate" set forth above.

         "Foreign Fund" means @ Ventures Foreign Fund III, L.P., a Delaware
limited partnership.

         "Foreign Fund Agreement" means the Limited Partnership Agreement of the
Foreign Fund, as from time to time amended and in effect.

         "Funds" means the Domestic Fund, the Foreign Fund and the CMGI Fund,
and "Fund" means any one of the Funds.

         "Investment" means each investment (excluding short-term investments
made pending investments in securities in Portfolio Companies) made by the LLC.
The LLC will invest only in Portfolio Companies in which one or more of the
Funds invests (excluding short-term investments made by any Fund pending
investments in securities in Portfolio Companies), and only at substantially the
same times and upon substantially the same terms upon which the Funds invest in
such Portfolio Companies.

         "Investment Percentage Interest" means each Member's percentage
interest in an Investment, as specified on the Investment Schedule for such
Investment.

         "Investment Schedule" means, with respect to each Investment, a
Schedule which shall be attached to this Agreement at such time as the
Investment is made and shall reflect the information described in Section
3.03(a) hereof with respect to the Investment.

         "LLC" means the limited liability company formed pursuant to the
Certificate and this Agreement, as it may from time to time be constituted and
amended.

         "Majority in Number of the Class B Members" means, with respect to a
particular action or matter, a majority in number of the Class B Members then
entitled to vote on the action.

         "Management Company" means @Ventures Management, LLC, a Delaware
limited liability company which provides management services to the Funds.

         "Maximum Contribution Obligation" for any Class A Member means the
amount set forth opposite such Class A Member's name on Schedule A hereto, as
amended and in effect from time to time.

         "Member" shall refer severally to any person named as a Class A Member
or Class B Member in this Agreement and any person who becomes an additional,
substitute or replacement Class A Member or Class B Member as permitted by this
Agreement, in such person's capacity as a Member of the LLC. "Members" shall
refer collectively to all such persons in their capacities as Members.

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         "Net Profits" and "Net Losses" mean the taxable income or loss, as the
case may be, for a period as determined in accordance with Code Section 703(a),
but computed with the following adjustments:

                  (i) Items of gain, loss, and deduction shall be computed based
         upon the Carrying Values of the LLC's assets (in accordance with
         Treasury Regulation Sections 1.704(b)(2)(iv)(g) and/or 1.704-3(d))
         rather than upon the assets' adjusted bases for federal income tax
         purposes;

                  (ii) Any tax-exempt income received by the LLC shall be
         included as an item of gross income;

                  (iii) The amount of any adjustments to the Carrying Values of
         any assets of the LLC pursuant to Code Section 743 shall not be taken
         into account;

                  (iv) Any expenditure of the LLC described in Code Section
         705(a)(2)(B) (including any expenditures treated as being described in
         Section 705(a)(2)(B) pursuant to Treasury Regulations under Code
         Section 704(b)) shall be treated as a deductible expense; and

                  (v) The amount of any items of Net Profits or Net Losses
         deemed realized pursuant to paragraphs (ii) and (iii) of the definition
         of "Capital Account" shall be included in the computation.

         "Other Cash Receipts" means cash receipts of the LLC, exclusive of
capital contributions of the Members, which the Class B Members reasonably
determine are not allocable to Investments.

         "Percentage Interest" shall be the percentage interest of a Member set
forth in Schedule B, as amended from time to time, and subject to adjustment
pursuant to Sections 3.04, 8.02 and 8.03.

         "Permitted Transferee" means (A) any Member; (B) any spouse, parent,
lineal descendant, brother, sister, or spouse of a brother or sister of a
Member; (C) any trust, corporation or partnership or other entity in which any
Member and/or one of the persons designated in clause (B) is a principal,
beneficiary, majority stockholder, member or limited or general partner with an
aggregate interest in profits and losses of greater than fifty percent; (D)
grantors or beneficiaries of a trust which is (or of which the trustees thereof
are, in their capacities as trustees) a Member; or (E) charitable foundations
created or primarily endowed by a Member or a member of his or her family.

         "Portfolio Company" means the issuer of any security in which the LLC
invests other than issuers of short-term investments pending investment in
long-term investments. The LLC will invest only in Portfolio Companies in which
one or more Funds invests.

         "Securities Act" means the Securities Act of 1933, as amended.

         "Separation Event" shall mean and shall be deemed to have occurred in
the event that:

                  (x) a Member dies or becomes mentally or physically disabled
         (as determined by a physician licensed in the Commonwealth of
         Massachusetts, selected by the Class B Members (exclusive of any Class
         B Member as to whom the determination is being made) or a conservator
         or guardian is appointed for the benefit of any Class B Member or his
         property;

                  (y) the employment or other service relationship of such
         Member to the Employer is terminated with or without cause; or

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                  (z) a Member defaults in its obligation to make Capital
         Contributions to the LLC pursuant to Section 3.01 below.

                                   ARTICLE II

                               GENERAL PROVISIONS

         2.01 Formation of Limited Liability Company; Foreign Qualification. The
LLC was formed as a limited liability company under the Act on August 3, 1998,
by the filing on such date of the Certificate in the Office of the Secretary of
State of the State of Delaware.

         Prior to the LLC's conducting business in any jurisdiction other than
the State of Delaware, the LLC shall comply, to the extent procedures are
available, with all requirements necessary to qualify the LLC as a foreign
limited liability company in each such jurisdiction where foreign qualification
is either necessary or appropriate. Each Member shall execute, acknowledge,
swear to and deliver all certificates and other instruments conforming to this
Agreement that are necessary or appropriate to qualify, or, as appropriate, to
continue or terminate the foreign qualification of, the LLC as a limited
liability company in all such jurisdictions in which the LLC may conduct
business.

         2.02 Name of the LLC. The name of the LLC shall be @ Ventures
Investors, LLC.

         2.03 Business of the LLC. The general character of the business of the
LLC is to (a) invest in each company in which one or more of the Funds invests,
and (b) engage in any activities directly or indirectly related or incidental
thereto which may be lawfully conducted by a limited liability company formed
under the laws of the State of Delaware. Each investment made by the LLC shall
(i) be in an amount which, when added to the amounts invested by the Funds in
such company, will equal 2% of the aggregate amount invested in such company by
the Funds and the LLC, (ii) be made at substantially the same time at which such
Funds invest in such company, and (iii) be upon substantially the same terms
upon which such Funds invest in such company.

         2.04 Place of Business of the LLC; Resident Agent. The address of the
principal place of business of the LLC, and the office at which the LLC will
maintain its records is 100 Brickstone Square, Andover, Massachusetts 01810. the
LLC's registered office in Delaware is c/o Corporation Trust Company, 1209
Orange Street, Wilmington, Delaware, 19810, and the LLC's registered agent for
service of process in Delaware is Corporation Trust Company, 1209 Orange Street,
Wilmington, Delaware, 19810. The Class B Members may at any time and from time
to time change the LLC's principal place of business, establish additional
places of business, change the LLC's registered agent or registered office in
Delaware, and in each case shall promptly provide notice of any of such actions
(identifying all such offices and agents) to all Members.

         2.05 Duration of the LLC. The term of the LLC commenced on August 3,
1998, and the LLC shall have perpetual existence, unless earlier terminated in
accordance with Article IX hereof.

         2.06 Members' Names and Addresses. The name and address of each Member
are set forth on Schedule A. Additional Members may be admitted in accordance
with the procedures specified in Article VIII. A Member may not resign from the
LLC at any time.

         2.07 No Partnership. The LLC is not intended to be a general
partnership, limited partnership or joint venture, and no Member shall be
considered to be a partner or joint venturer of any other Member, for any
purposes other than foreign and domestic federal, state, provincial and local
income tax purposes, and this Agreement shall not be construed to suggest
otherwise.

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         2.08 Title to LLC Property. All property owned by the LLC, whether real
or personal, tangible or intangible, shall be deemed to be owned by the LLC as
an entity, and no Member, individually, shall have any ownership of such
property. The LLC may hold any of its assets in its own name or in the name of
its nominee, which nominee may be one or more trusts. Any property held by a
nominee trust for the benefit of the LLC shall, for purposes of this Agreement,
be treated as if such property were directly owned by the LLC.

         2.09 Nature of Member's Interest. The interests of all of the Members
in the LLC are personal property and shall not, under any circumstances, be
considered real property.

         2.10 Investment Representations. Each Member, by execution of this
Agreement or an amendment hereto reflecting such Member's admission to the LLC,
hereby represents and warrants to the LLC that:

              (a) It is acquiring an interest in the LLC for its own account for
investment only, and not with a view to, or for sale in connection with, any
distribution thereof in violation of the Securities Act or any rule or
regulation thereunder.

              (b) It understands that (i) the interest in the LLC it is
acquiring has not been registered under the Securities Act or applicable state
securities laws and cannot be resold unless subsequently registered under the
Securities Act and such laws or unless an exemption from such registration is
available, (ii) such registration under the Securities Act and such laws is
unlikely at any time in the future and neither the LLC nor the Members are
obligated to file a registration statement under the Securities Act or such
laws, and (iii) the assignment, sale, transfer, exchange, or other disposition
of the interests in the LLC is restricted in accordance with the terms of this
Agreement.

              (c) It has had such opportunity as it has deemed adequate to ask
questions of and receive answers from representatives of the LLC concerning the
LLC, and to obtain from representatives of the LLC such information which the
LLC possesses or can acquire without unreasonable effort or expense, as is
necessary to evaluate the merits and risks of an investment in the LLC.

              (d) It has, either alone or with its professional advisers,
sufficient experience in business, financial and investment matters to be able
to evaluate the merits and risks involved in investing in the LLC and to make an
informed investment decision with respect to such investment.

              (e) It can afford a complete loss of the value of its investment
in the LLC and is able to bear the economic risk of holding such investment for
an indefinite period.

              (f) If it is an entity, (i) it is duly organized, validly existing
and in good standing under the laws of its jurisdiction of organization, (ii) it
has full organizational power to execute and deliver this Agreement and to
perform its obligations hereunder, (iii) its execution, delivery and performance
of this Agreement has been authorized by all requisite action on behalf of the
entity, and (iv) it has duly executed and delivered this Agreement.

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                                   ARTICLE III

                              CAPITAL CONTRIBUTIONS

         3.01     Capital Contributions.

         (a) Each Member shall be required to contribute capital to the LLC in
accordance with this Section 3.01. In no event shall any Class A Member be
required or permitted to contribute to the LLC, in the aggregate, an amount
which exceeds such Class A Member's Maximum Contribution Obligation.

         (b) As and when the LLC determines to make an Investment, the Members
participating in such Investment, as more fully described below (the
"Participating Members") shall be required to contribute capital to the LLC in
an aggregate amount sufficient to enable the LLC to make such Investment. Each
Participating Member shall contribute to the LLC his or her proportionate share
of the amount required to enable the LLC to make such Investment determined in
the manner hereinafter provided. Each Participating Member's proportionate share
of the total amount required shall equal a fraction, the numerator of which
shall be such Participating Member's Percentage Interest on the date on which
the capital contribution is called for, and the denominator of which shall be
the aggregate Percentage Interests of all Participating Members on such date,
provided, however, (i) that in no event shall a Class A Member be required or
permitted to contribute to the LLC any amount if such amount, together with all
amounts previously contributed by such Class A Member to the LLC would exceed
such Class A Member's Maximum Contribution Obligation, and (ii) if, as a result
of the limitation contained in the preceding clause (i), a Class A Member's
proportionate share of a particular capital call is reduced, the amount of such
capital call to be made by the Participating Class B Members as a group shall be
correspondingly increased (such increase to be allocated among such
Participating Class B Members based on their respective Percentage Interests).
As used herein, "Participating Members" means all Members of the LLC, other than
(x) Members for whom a Separation Event has occurred and (y) Class A Members who
have made aggregate capital contributions to the LLC equal to their Maximum
Contribution Obligation.

         (c) Subject to the limitations on Class A Members specified in Section
3.01(a), the Class B Members may call for capital for other LLC purposes as they
may from time to time reasonably determine, and any capital called for pursuant
to this Section 3.01(c) shall be contributed by the Members exclusive of Members
for whom a Separation Event has occurred in proportion to their respective
Percentage Interests on the date on which such capital is called for.

         (d) The Class B Members shall call for capital from all Members for the
purposes specified in this Section 3.01 from time to time as needed. In
connection with any such call, the Class B Members shall provide to each Member
notice of a call for capital (which notice may be given in writing or by
electronic mail), which notice shall specify the aggregate amount called for by
the LLC, a general statement of the purposes for which such capital call is
being made, each Member's share of the total amount called for, and the date on
which the capital contribution is due (which shall, to the extent reasonably
practicable, be not less than 10 days after the date of the notice).

         (e) The LLC shall maintain written records indicating the amount of
capital contributed by each Member to the LLC.

         (f) The LLC may elect to withhold from any amounts which are otherwise
distributable to a Member in accordance with the terms of this Agreement any
amount which such Member may be required to contribute to the LLC pursuant to
this Section 3.01. In addition, the LLC may withhold from any amounts which are
otherwise distributable to a Member in accordance with this

                                       8

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Agreement, and pay over to the Management Company, any amount which such Member
may owe to the Management Company pursuant to certain promissory notes made by
such Member to the Management Company, which notes evidence loans made by the
Management Company to such Member in order to enable such Member to satisfy its
capital contribution obligations to the LLC.

         3.02 No Additional Capital. Except as provided in this Article III, no
Member shall be obligated or permitted to contribute any additional capital to
the LLC. No interest shall accrue on any contributions to the capital of the
LLC, and no Member shall have the right to withdraw or to be repaid any capital
contributed by it or to receive any other payment in respect of its interest in
the LLC, including without limitation as a result of the withdrawal or
resignation of such Member from the LLC, except as specifically provided in this
Agreement.

         3.03 Anticipated Operations of the LLC.

         (a) As and when any Fund determines to make an investment (other than a
short-term investment), the LLC shall make an Investment in the same issuer, in
the amounts and on the terms described in Section 2.03. In connection therewith,
the Class B Members shall call for capital in accordance with Section 3.01(b),
and after such capital contributions are made, the Class B Members shall create
an Investment Schedule for such Investment, which shall be attached to this
Agreement. The Investment Schedule for each Investment shall reflect (a) the
Portfolio Company issuing the securities, (b) the acquisition date, (c) the
number and class or series of shares of such securities, (d) the purchase price
and/or other consideration payable by the LLC therefor, (e) the Investment
Percentage Interest of each of Participating Member in such Investment
(determined in the manner hereinafter provided) and (f) such other information,
if any, as the Class B Members may deem appropriate.

         (b) The Investment Percentage Interest of each Member in each
Investment shall equal the amount of the capital contribution made by such
Participating Member to the LLC to enable the LLC to acquire such Investment
divided by the aggregate amount of the capital contributions made by all Members
to the LLC to enable the LLC to acquire such Investment.

         3.04 Separation Event.

         (a) Upon the occurrence of a Separation Event with respect to any
member:

                  (i) Such Member's Percentage Interest in the LLC shall, from
         and after the date of the Separation Event, be reduced to zero, and the
         Percentage Interest in the LLC of all Class B Members (exclusive of any
         Class B Member for whom a Separation Event has occurred) shall be
         increased by an aggregate amount equal to the amount of the Percentage
         Interest of the Member for whom the Separation Event has occurred (such
         increase to be allocated among them in proportion to their respective
         Percentage Interests immediately prior to the adjustment contemplated
         hereby).

                  (ii) Such Member shall not be entitled to participate in any
         Investment made by the LLC from and after the date of the Separation
         Event.

                  (iii) Such Member, if a Class B Member, shall have no right to
         vote on or participate in any decision or matter on or in which Class B
         Members are entitled to vote or participate and such Class B Member
         shall be disregarded for all purposes in determining the number of
         Class B Members which constitute a Majority in Number of the Class B
         Members.

                  (iv) Such Member shall not be required to make any capital
         contributions to the LLC from and after the date of the Separation
         Event.

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<PAGE>

                  (v) Such Member shall automatically and without any action on
         the part of the LLC, such Member or any other Member, be deemed to have
         withdrawn from the LLC on the first date on which the LLC no longer
         owns any Investment in which such Member has an Investment Percentage
         Interest.

         The Class B Members shall make all determinations under this Section
3.04 (including determinations as to when and whether a Separation Event has
occurred, and the adjustment of the Percentage Interests of the Members in
connection therewith), in their reasonable discretion.

         (b) Schedules A and B shall be amended as required to effectuate the
provisions of this Section 3.04(b), any such amendments to be approved by a
Majority in Number of the Class B Members and attached to this Agreement.

                                   ARTICLE IV

                                  DISTRIBUTIONS

         4.01 Distribution of Distributable Cash and Property and Distributable
Other Cash.

         (a) Distributable Cash and Property of the LLC shall be distributed on
an Investment by Investment basis, at such times and in such amounts as the
Class B Members may in their reasonable discretion determine. Any non-cash
distributions made to the Members shall be valued at their respective fair
market values, as determined by the Class B Members in good faith and in a
manner consistent with the valuation procedures established in the Domestic Fund
Agreement and the Foreign Fund Agreement. Distributable Other Cash shall be
distributed, in such amounts as the Class B Members may determine, not less
frequently than quarterly, within 30 days following the last day of each fiscal
quarter of the LLC.

         (b) Subject to the provisions of Section 9.02(b) below: (i)
Distributable Cash and Property related to an Investment shall be distributed to
the Members in proportion to their respective Investment Percentage Interests in
such Investment; and (ii) Distributable Other Cash shall be distributed to the
Members in proportion to their respective Percentage Interests on the date the
LLC makes such distribution.

         (c) The Class B Members will use reasonable efforts to cause the LLC to
distribute to each Member in each year the Tax Distribution Amount (as defined
below), which amount shall be treated as an advance against future distributions
to such Member pursuant to Section 4.01(b) above. The Tax Distribution Amount
shall equal an amount which, when added to all distributions previously made to
the Member pursuant to this Section 4.01 from the inception of the LLC, equals
the product of (i) the Member's allocable share of the net taxable income of the
LLC computed on an aggregate cumulative basis from the inception of the LLC and
(ii) the highest combined marginal rate of federal and Massachusetts state
income tax applicable to individuals for any year since the inception of the
LLC. Separate Tax Distribution Amounts shall be computed with respect to each
Investment, and, to the extent practicable, the required distribution of the Tax
Distribution Amount attributable to a particular Investment for a particular
period shall be satisfied by a distribution of Distributable Cash and Property
attributable to such Investment. To the extent that the required distribution of
the Tax Distribution Amount attributable to a particular Investment is satisfied
by a distribution of Distributable Cash and Property attributable to another
Investment, rules similar to those set forth in the parenthetical in clause (i)
and clause (ii) of the definition of "Distributable Cash and Property" shall
apply.

                                       10

<PAGE>

         4.02 Certain Payments to the Internal Revenue Service Treated as
Distributions.

         (a) For purposes of this Section 4.03, the Class B Members may assume
that any Member who fails to provide to the LLC satisfactory evidence of its tax
status for United States federal income tax purposes is a foreign person taxable
as corporation.

         (b) Notwithstanding anything to the contrary herein, to the extent that
the LLC is required, or elects, pursuant to applicable law, either (i) to pay
tax (including estimated tax) on a Member's allocable share of LLC items of
income or gain, whether or not distributed, or (ii) to withhold and pay over to
the tax authorities any portion of a distribution otherwise distributable to a
Member, the LLC may pay over such tax or such withheld amount to the tax
authorities, and such amount shall be treated as a distribution to such Member
at the time it is paid to the tax authorities. In the event that the amount paid
(or paid over) to the tax authorities on behalf of any Member exceeds the amount
which would have been distributed to such Member absent such tax obligation,
such excess shall be treated as a demand loan from the LLC to such Member, which
loan shall bear interest at the prime rate announced from time to time by The
Wall Street Journal, until paid in full.

         4.03 Distributions in Kind. A Member, regardless of the nature of his
contribution to the LLC, shall have no right to demand or receive any
distribution from the LLC in any form other than cash. The LLC may, at any time
and from time to time, make distributions in kind to the Members. Any Member
entitled to any interest in such assets shall, unless otherwise determined by
the Members, receive separate assets of the LLC and not an interest as a
tenant-in-common with other Members so entitled in any asset being distributed.

                                    ARTICLE V

                    ALLOCATION OF NET PROFITS AND NET LOSSES

         5.01 Basic Allocations.

         (a) Net Profits and Net Losses shall be computed on an Investment by
Investment basis as of the end of each fiscal year (or other relevant period).
Except as provided in Section 5.02 below (which shall be applied first), Net
Profits and Net Losses attributable to a particular Investment shall be
allocated among the Members in proportion to their respective Investment
Percentage Interests in such Investment. Net Profits and Net Losses attributable
to Other Cash Receipts shall be allocated among the Members in proportion to
their respective Percentage Interests.

         (b) For purposes of this Article V, the amount of the Net Profits or
Net Losses from any Investment (treating all sources of Other Cash Receipts as
one Investment) shall be determined by allocating expenses incurred by the LLC
among the Investments in the same manner that expenses are allocated pursuant to
the last sentence of the definition of "Distributable Cash and Property."

         (c) Allocations of Net Profits and Net Losses provided for in this
Section 5.01 shall generally be made as of the end of the fiscal year of the
LLC; provided, however, that allocations of items of Net Profits and Net Losses
described in clause (v) of the definition of "Net Profits" and "Net Losses"
shall be made at the time deemed realized as described in the definition of
"Capital Account."

         5.02 Regulatory Allocations. Notwithstanding the provisions of Section
5.01 above, the following allocations of Net Profits, Net Losses and items
thereof shall be made in the following order of priority:

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<PAGE>

         (a) Items of income or gain (computed with the adjustments contained in
paragraphs (i), (ii) and (iii) of the definition of "Net Profits and Net
Losses") for any taxable period shall be allocated to the Members in the manner
and to the minimum extent required by the "minimum gain chargeback" provisions
of Treasury Regulation Section 1.704-2(f) and Treasury Regulation Section
1.704-2(i)(4).

         (b) All "nonrecourse deductions" (as defined in Treasury Regulation
Section 1.704-2(b)(1)) of the LLC for any year shall be allocated to the Members
in the manner in which Net Profits and Net Losses are allocated; provided,
however, that nonrecourse deductions attributable to "partner nonrecourse debt"
(as defined in Treasury Regulation Section 1.704-2(b)(4)) shall be allocated to
the Members in accordance with the provisions of Treasury Regulation Section
1.704-2(i)(1).

         (c) Items of income or gain (computed with the adjustments contained in
paragraphs (i), (ii) and (iii) of the definition of "Net Profits and Net
Losses") for any taxable period shall be allocated to the Members in the manner
and to the extent required by the "qualified income offset" provisions of
Treasury Regulation Section 1.704-1(b)(2)(ii)(d).

         (d) In no event shall Net Losses of the LLC be allocated to a Member if
such allocation would cause or increase a negative balance in such Member's
Capital Account (determined for purposes of this Section 5.02(d) only, by
increasing the Member's Capital Account balance by (i) the amount the Member is
obligated to restore to the LLC pursuant to Treasury Regulation Section
1.704-1(b)(2)(ii)(c) and (ii) such Member's share of "minimum gain" and of
"partner nonrecourse debt minimum gain" as determined pursuant to Treasury
Regulation Sections 1.704-2(g) and 1.704-2(i)(5), respectively).

         (e) Except as otherwise provided herein or as required by Code Section
704, for tax purposes, all items of income, gain, loss, deduction or credit
shall be allocated to the Members in the same manner as are Net Profits and Net
Losses; provided, however, that if the Carrying Value of any property of the LLC
differs from its adjusted basis for tax purposes, then items of income, gain,
loss, deduction or credit related to such property for tax purposes shall be
allocated among the Members so as to take account of the variation between the
adjusted basis of the property for tax purposes and its Carrying Value in the
manner provided for under Code Section 704(c).

         (f) In the event that Net Profits, Net Losses or items thereof in
respect of any Investment are allocated to one or more Members pursuant to
subsections (a) through (d) above, subsequent Net Profit, Net Losses or items
thereof will first be allocated (subject to the provisions of subsections (a)
through (d)) to the Members in a manner designed to result in each Member having
been allocated an amount of Net Profits, Net Losses or items thereof
attributable to each Investment as such Member would have been allocated had
Section 5.02 not been contained in this Agreement.

                                   ARTICLE VI

                                   MANAGEMENT

         6.01 Management of the LLC. (a) Subject to the provisions of this
Agreement and the Act, all powers shall be exercised by or under the authority
of, and the business and affairs of the LLC shall be controlled by the Members.

         (b) Except to the extent that this Agreement specifically provides for
a higher or lower number or percentage of Members, all decisions respecting any
matter set forth herein or otherwise affecting or arising out of the conduct of
the business of the LLC shall be made by action of a Majority in Number of the
Class B Members; provided that, Class B Members with respect to whom a
Separation Event has occurred shall have no right to vote on or participate in
any matter or decision to be made by

                                       12

<PAGE>

the Class B Members and shall be disregarded for all purposes in determining the
number of Class B Members which constitute a Majority in Number of the Class B
Members. Subject to the foregoing, the Class B Members shall have the exclusive
right and full authority to manage, conduct and operate the LLC business.
Specifically, but not by way of limitation, the Class B Members (by action of
such Majority in Number) shall be authorized, for and on behalf of the LLC:

                  (i) to borrow money, to issue evidences of indebtedness and to
         guarantee the debts of others for whatever purposes they may specify,
         and, as security therefor, to pledge or otherwise encumber the assets
         of the LLC;

                  (ii) to cause to be paid on or before the due date thereof all
         amounts due and payable by the LLC to any person or entity;

                  (iii) to employ such agents, employees, managers, accountants,
         attorneys, consultants and other persons necessary or appropriate to
         carry out the business and affairs of the LLC, whether or not any such
         persons so employed are Members or are affiliated or related to any
         Member, and to pay such fees, expenses, salaries, wages and other
         compensation to such persons as the Members shall in their sole
         discretion determine;

                  (iv) to pay, extend, renew, modify, adjust, submit to
         arbitration, prosecute, defend or compromise, upon such terms as they
         may determine and upon such evidence as they may deem sufficient, any
         obligation, suit, liability, cause of action or claim, including taxes,
         either in favor of or against the LLC;

                  (v) to pay any and all fees and to make any and all
         expenditures which the Class B Members, in their discretion, deem
         necessary or appropriate in connection with the organization of the
         LLC, and the carrying out of its obligations and responsibilities under
         this or any other Agreement;

                  (vi) to invest the assets of the LLC, and to lease, sell,
         finance, refinance or dispose of all or any portion of the LLC's
         property;

                  (vii) to cause the LLC to make or revoke any of the elections
         referred to in Sections 108, 704, 709, 754 or 1017 of the Code or any
         similar provisions enacted in lieu thereof, or in any other Section of
         the Code;

                  (viii) to establish and maintain reserves for such purposes
         and in such amounts as they deem appropriate from time to time;

                  (ix) to pay all organizational expenses and general and
         administrative expenses of the LLC;

                  (x) to deal with, or otherwise engage in business with, or
         provide services to and receive compensation therefor from, any person
         who has provided or may in the future provide any services to, lend
         money to, sell property to, or purchase property from the LLC,
         including without limitation, a Member;

                  (xi) to engage in any kind of activity and to perform and
         carry out contracts of any kind necessary to, or in connection with, or
         incidental to the accomplishment of the purposes of the LLC;

                                       13

<PAGE>

                  (xii) to compromise the obligation of a Member to make a
         contribution to the capital of the LLC or to return to the LLC money or
         other property paid or distributed to such Member in violation of this
         Agreement or the Act;

                  (xiii) to cause to be paid any and all taxes, charges and
         assessments that may be levied, assessed or imposed upon any of the
         assets of the LLC, unless the same are contested by the Class B
         Members; and

                  (xiv) to exercise all powers and authority granted by the Act
         to members, except as otherwise specifically provided in this
         Agreement.

         (d) Any Class B Member is authorized to execute, deliver and file on
behalf of the LLC any documents to be filed with the Secretary of State of the
State of Delaware. The signature of one Class B Member on any agreement,
contract, instrument or other document shall be sufficient to bind the LLC in
respect thereof and conclusively evidence the authority of such Class B Member
and the LLC with respect thereto, and no third party need look to any other
evidence or require the joinder or consent of any other party.

         (e) Each Class B Member is authorized to use the title "Managing
Director" when acting on behalf of the LLC in the conduct of the LLC's business.

         (f) No Class A Member, in his or her capacity as such, shall be
authorized to act for or on behalf of or to bind the LLC.

         6.02 Tax Matters Partner. Andrew J. Hajducky, III shall be the tax
matters partner for the LLC pursuant to Code Sections 6221 through 6231.

         6.03 Liability of the Members; Indemnification.

         (a) No Member shall be liable to the LLC or any other Member for any
act or omission taken by the Member in good faith and in the belief that such
act or omission is in the best interests of the LLC; provided that such act or
omission is not in violation of this Agreement and does not constitute
negligence, misconduct, fraud or a willful violation of law by the Member. No
Member shall be liable to the LLC or any other Member for any action taken by
any other Member, nor shall any Member (in the absence of negligence,
misconduct, fraud or a willful violation of law by the Member) be liable to the
LLC or any other Member for any action of any employee or agent of the LLC
provided that the Member shall have exercised appropriate care in the selection
and supervision of such employee or agent.

                                       14

<PAGE>

         (b) Each Member and its respective partners, agents, employees and
Affiliates (the "Indemnitees") shall be and hereby are (i) indemnified and held
harmless by the LLC and (ii) released by the other Members from and against any
and all claims, demands, liabilities, costs, expenses, damages, losses, suits,
proceedings and actions for which such Indemnitee has not otherwise been
reimbursed (collectively, "Liabilities"), whether judicial, administrative,
investigative or otherwise, of any nature whatsoever, known or unknown,
liquidated or unliquidated, that may accrue to the LLC or any other Member or in
which any of the Indemnitees may become involved, as a party or otherwise,
arising out of the conduct of the business or affairs of the LLC by the
respective Indemnitee or otherwise relating to this Agreement, provided that an
Indemnitee shall not be entitled to indemnification or release hereunder if it
shall have been determined by a Majority in Number of the Class B Members that
(x) such person did not act in good faith and in a manner such person reasonably
believed to be in the best interests of the LLC and, in the case of a criminal
proceeding, did not have reasonable cause to believe that its conduct was
lawful, or (y) such Liabilities shall have arisen from a violation of this
Agreement or the negligence, misconduct, fraud or willful violation of law by
such Indemnitee, or actions of such Indemnitee outside the scope of and
unauthorized by this Agreement, and provided further that an Indemnitee shall
not be entitled to indemnification hereunder with respect to any liability
arising in connection with its activities performed for or on behalf of any
Portfolio Company, the securities of which have been sold or have been
distributed to the Members pursuant to Article IV, if such activities were
performed after the date on which such securities were sold or distributed. The
termination of any proceeding by settlement shall not, of itself, create a
presumption that the Indemnitee did not act in good faith and in a manner that
such person reasonably believed to be in the best interests of the LLC or that
the Indemnitee did not have reasonable cause to believe that its conduct was
lawful. The indemnification rights provided for in this Section 6.03 shall
survive the termination of the LLC and this Agreement.

         Expenses incurred by an Indemnitee in defense or settlement of any
claim that may be subject to a right of indemnification hereunder may be
advanced by the LLC prior to the final disposition thereof provided that the
following conditions are satisfied: (i) the claim relates to the performance of
duties or services by the Indemnitee on behalf of the LLC and (ii) the
Indemnitee undertakes to repay the advanced funds to the LLC if it is ultimately
determined that the Indemnitee is not entitled to be indemnified hereunder or
under applicable law. The right of any Indemnitee to indemnification provided
herein shall be cumulative of, and in addition to, any and all rights to which
such Indemnitee may otherwise be entitled by contract or as a matter of law or
equity and shall extend to such Indemnitee's successors, assigns and legal
representatives. The obligations of the Members under this Section 6.03(b) shall
be satisfied only after any applicable insurance proceeds have been exhausted
and then only out of LLC assets and, to the extent required by law,
distributions made by the LLC to the Members, and the Members shall have no
liability to fund any indemnification payment hereunder.

         6.04 Liability of Members. The liability of the Members for the losses,
debts and obligations of the LLC shall be limited to their capital
contributions; provided, however, that under applicable law, the Members may
under certain circumstances be liable to the LLC to the extent of previous
distributions made to them in the event that the LLC does not have sufficient
assets to discharge its liabilities.

         6.05 Certain Fees and Expenses. All out-of-pocket expenses reasonably
incurred by any Member in connection with the LLC's business (other than
overhead and similar expenses of any Member) shall be paid by the LLC or
reimbursed to the Member by the LLC.

                                       15

<PAGE>

         6.06 Other Activities.

         (a) Subject to Section 6.06(b) below, the Members and their respective
Affiliates may engage in and possess interests in other business ventures and
investment opportunities of every kind and description, independently or with
others, including serving as directors, officers, stockholders, managers,
members and general or limited partners of corporations, partnerships or other
limited liability companies with purposes similar to or the same as those of the
LLC. Neither the LLC nor any other Member shall have any rights in or to such
ventures or opportunities or the income or profits therefrom.

         (b) Each Member agrees that (I) during his or her employment by the
Employer, and (II) while he or she holds any interest in the LLC, such Member
will not, directly or indirectly:

                  (x) recruit, solicit or induce, or attempt to induce, any
         employee or consultant of the Employer or of any Portfolio Company or
         of any Affiliate of any of them to terminate his or her employment
         with, or otherwise cease any relationship with, the Employer or any
         Portfolio Company or any Affiliate of any of them; or

                  (y) solicit, divert, take away, or attempt to divert or take
         away, any investment opportunity with respect to any Portfolio Company
         or any investment opportunity with respect to any prospective
         investment or prospective portfolio company which the Employer
         contacted or solicited during such Member's employment relationship
         with the Employer.

If any restriction set forth herein is found by any court to be unenforceable
because it extends for too long a period of time, or over too great a range of
activities, or over too broad a geographic area, the restriction shall be
interpreted to extend only over the maximum period of time, range of activities,
or geographic area which the court finds to be enforceable. Each Member
acknowledges and agrees that the restrictions contained in this Section 6.06(b)
are necessary for the protection of the business and goodwill of the Employer,
the Portfolio Companies and the Affiliates of any of them and are considered by
such Member to be reasonable for such purpose and that his or her interest in
the LLC is being received partly in consideration for the foregoing covenant.

                                   ARTICLE VII

                        BOOKS, RECORDS AND BANK ACCOUNTS

         7.01 Books and Records. The Class B Members shall keep or cause to be
kept just and true books of account with respect to the operations of the LLC.
Such books shall be maintained at the LLC's principal place of business, or at
such other place as the Members shall determine, and all Members, and their duly
authorized representatives, shall at all reasonable times have access to such
books as well as any information required to be made available to the Members
under the Act. The Class B Members shall not be required to deliver or mail
copies of the LLC's Certificate of Formation or copies of certificates of
amendment thereto or cancellation thereof to the Members, although such
documents shall be available for review and/or copying by the Members at the
LLC's principal place of business.

         7.02 Accounting Basis and Fiscal Year. The LLC's books shall be kept on
the accrual method of accounting, or on such other method of accounting as the
Members may from time to time determine, and shall be closed and balanced at the
end of each fiscal year of the LLC. The fiscal year of the LLC shall be the
calendar year.

                                       16

<PAGE>

         7.03 Bank Accounts. The Class B Members shall be responsible for
causing one or more accounts to be maintained in a bank (or banks), which
accounts shall be used for the payment of the expenditures incurred by the Class
B Members in connection with the business of the LLC, and in which shall be
deposited any and all cash receipts of the LLC. All deposits and funds not
needed for the operations of the LLC may be invested in such short-term
investments as the Class B Members may determine. All such amounts shall be and
remain the property of the LLC, and shall be received, held and disbursed by the
Class B Members for the purposes specified in this Agreement. There shall not be
deposited in any of said accounts any funds other than funds belonging to the
LLC, and no other funds shall in any way be commingled with such funds.

         7.04 Reports to Members. Within 90 days after the end of each fiscal
year, the Class B Members shall cause the LLC to furnish to each Member (i) such
information as may be needed to enable the Members to file their federal income
tax returns and any required state income tax returns, and (ii) a balance sheet
of the LLC as of the last day of such fiscal year, and financial statements of
the LLC for such fiscal year, none of which need be audited. The cost of such
reporting shall be paid by the LLC as a LLC expense. Any Member may, at any
time, at its own expense, cause an audit of the LLC books to be made by a
certified public accountant of its own selection. All expenses incurred by such
accountant shall be borne by such Member.

                                  ARTICLE VIII

                        TRANSFERS OF INTERESTS OF MEMBERS

         8.01 Substitution and Assignment of Member's Interest.

         (a) Subject to Section 8.01(b) below, no Member may sell, transfer,
assign, pledge, hypothecate or otherwise dispose of all or any part of its
interest in the LLC (whether voluntarily, involuntarily or by operation of law),
unless a Majority in Number of the Class B Members shall have previously
consented to transfer, assignment, pledge, hypothecation or disposition in
writing, the granting or denying of which consent shall be in the Class B
Members' absolute discretion. The provisions of this Section 8.01(a) shall not
be applicable to any assignment of the interest of a Member to a Permitted
Transferee (provided that no such Permitted Transferee may be admitted to the
LLC as a substitute Member except as provided in Section 8.01(c) below).

         (b) No assignment of the interest of a Member shall be made if, in the
opinion of counsel to the LLC, such assignment (i) may not be effected without
registration under the Securities Act of 1933, as amended, (ii) would result in
the violation of any applicable state securities laws, (iii) would result in a
termination of the LLC under Section 708 of the Code, unless such a transfer is
consented to by a Majority in Number of the Class B Members, (iv) would result
in the treatment of the LLC as an association taxable as a corporation or as a
"publicly-traded limited partnership" for tax purposes, unless such a transfer
is consented to by a Majority in Number of the Class B Members or (v) would
require the LLC or any Fund to register as an investment company under the
Investment Company Act of 1940, as amended, or as an investment advisor under
the Investment Advisors Act of 1940, as amended. The LLC shall not be required
to recognize any assignment until the instrument conveying such interest has
been delivered to the LLC for recordation on the books of the LLC. Unless an
assignee becomes a substituted Member in accordance with the provisions of
Section 8.01(c), it shall not be entitled to any of the rights granted to a
Member hereunder, other than the right to receive all or part of the share of
the Net Profits, Net Losses, distributions of cash or property or returns of
capital to which his assignor would otherwise be entitled.

                                       17

<PAGE>

         (c) An assignee of the interest of a Member, or any portion thereof,
shall become a substituted Member entitled to all the rights of a Member if, and
only if:

                  (i) the assignor gives the assignee such right;

                  (ii) a Majority in Number of the Class B Members consent to
         such substitution, the granting or denying of which consent shall be in
         the Class B Members' absolute discretion;

                  (iii) the assignee or the assignor pays to the LLC all costs
         and expenses incurred in connection with such substitution, including
         specifically, without limitation, costs incurred in the review and
         processing of the assignment and in amending this Agreement; and

                  (iv) the assignee executes and delivers such instruments, in
         form and substance satisfactory to the LLC, as may be necessary or
         desirable to effect such substitution and to confirm the agreement of
         the assignee to be bound by all of the terms and provisions of this
         Agreement.

         (d) The LLC and the Class B Members shall be entitled to treat the
record owner of any interest in the LLC as the absolute owner thereof in all
respects, and shall incur no liability for distributions of cash or other
property made in good faith to such owner until such time as a written
assignment of such interest has been received and accepted by the Class B
Members and recorded on the books of the LLC. The Class B Members may refuse to
accept an assignment until the end of the next successive quarterly accounting
period. In no event shall any interest in the LLC, or any portion thereof, be
sold, transferred or assigned to a minor or incompetent, and any such attempted
sale, transfer or assignment shall be void and ineffectual and shall not bind
the LLC.

         (e) If a Member who is an individual dies or a court of competent
jurisdiction adjudges him to be incompetent to manage his person or his
property, the Member's executor, administrator, guardian, conservator or other
legal representative may exercise all of the Member's rights hereunder, but
solely for the purpose of settling his estate or administering his property, and
in no event shall such executor, administrator, guardian, conservator or legal
representative participate in any way in the conduct of the business of the LLC,
or in the making of any decision or the taking of any action provided for
hereunder (including without limitation, Section 6.01(a) or (b)) for any other
purpose. If a Member is a corporation, trust or other entity, and is dissolved
or terminated, the powers of that Member may be exercised by its legal
representative or successor.

         8.02 Additional Members.

         (a) Additional Class A Members may be admitted to the LLC at any time
and from time to time upon the written consent of a Majority in Number of the
Class B Members. Additional Class B Members may be admitted to the LLC at any
time and from time to time upon the written consent of a Majority in Number of
the Class B Members. Any such consent shall specify the Maximum Contribution
Obligation, if any, and/or the capital contribution, if any, and Percentage
Interest of the additional Member, and any other rights and obligations of such
additional Member. Any such approval shall bind all Members. In connection with
any such admission of an additional Member, this Agreement (including Schedules
A and B) shall be amended to reflect the additional Member, its capital
contribution, if any, its Percentage Interest, and any other rights and
obligations of the additional Member.

         (b) In connection with any such admission of an additional Member, the
Percentage Interest or other rights and interests of the Class A Members in the
LLC shall not be diluted or otherwise modified or adjusted. Unless all Class B
Members (exclusive of those with respect to whom a Separation

                                       18

<PAGE>

Event has occurred) otherwise agree in connection with the admission of any
additional Member to the LLC, the Percentage Interests of all Class B Members
(but not the Percentage Interests of the Class A Members) shall be diluted
proportionately based on their respective Percentage Interests immediately prior
to any such admission.

         (c) Each Member, and each person who is hereinafter admitted to the LLC
as a Class B Member, hereby consents to the admission to the LLC of any such
third party on such terms as may be approved by the Class B Members in
accordance with this Section 8.02, and to any amendment to this Agreement which
may be necessary or appropriate to reflect the admission of any such third party
and the terms of its interest in the LLC. Each Class B Member acknowledges that,
in connection with any admission of any such person, such Class B Member's
interest in allocations of Net Profits and Net Losses and distributions of cash
and property of the LLC, and net proceeds upon liquidation of the LLC, may be
diluted or otherwise altered (subject to the provisions of this Section 8.02).

         (d) Any amendment to this Agreement which shall be made in order to
effectuate the provisions of this Section 8.02 shall be executed by the number
of Class B Members required to approve the admission of the additional Member or
Members, as described in Section 8.02, and the Member being admitted to the LLC,
and any such amendment shall be binding upon all of the Members.

                                   ARTICLE IX

                           DISSOLUTION AND TERMINATION

         9.01 Events of Dissolution.

         (a) The LLC shall be dissolved:

                  (i) on a date designated in writing by a Majority in Number of
         the Class B Members;

                  (ii) upon the sale or other disposition of all of the LLC's
         assets; or

                  (iii) upon the entry of a decree of judicial dissolution under
         Section 18-802 of the Act.

         (b) Dissolution of the LLC shall be effective on the day on which the
event occurs giving rise to the dissolution, but the LLC shall not terminate
until the LLC's Certificate of Formation shall have been cancelled and the
assets of the LLC shall have been distributed as provided herein.
Notwithstanding the dissolution of the LLC, prior to the termination of the LLC,
as aforesaid, the business of the LLC and the affairs of the Members, as such,
shall continue to be governed by this Agreement. A liquidator appointed by the
Class B Members (who may be a Member), shall liquidate the assets of the LLC,
and distribute the proceeds thereof as contemplated by this Agreement and cause
the cancellation of the LLC's Certificate of Formation.

                                       19

<PAGE>

         9.02 Distributions Upon Liquidation.

         (a) After payment of liabilities owing to creditors, the liquidator
shall set up such reserves as it deems reasonably necessary for any contingent
or unforeseen liabilities or obligations of the LLC. Said reserves may be paid
over by such liquidator to a bank, to be held in escrow for the purpose of
paying any such contingent or unforeseen liabilities or obligations and, at the
expiration of such period as such liquidator may deem advisable, such reserves
shall be distributed to the Members or their assigns in the manner set forth in
paragraph (b) below.

         (b) After paying such liabilities and providing for such reserves, the
liquidator shall cause the remaining net assets of the LLC to be distributed to
all Members with positive Capital Account balances (after such balances have
been adjusted to reflect all debits and credits required by applicable Treasury
Regulations under Section 704(b) of the Code for all events through and
including the distribution in liquidation of the LLC), in proportion to and to
the extent of such positive balances. In the event that any part of such net
assets consists of notes or accounts receivable or other non-cash assets, the
liquidator may take whatever steps it deems appropriate to convert such assets
into cash or into any other form which would facilitate the distribution
thereof. If any assets of the LLC are to be distributed in kind, such assets
shall be distributed on the basis of their fair market value net of any
liabilities. No Member shall have any right or interest in or to the name "@
Ventures" and all rights and interest in such name shall, upon termination of
the LLC, be assigned and transferred to CMGI or an Affiliate designated by CMGI.

                                    ARTICLE X

                                  MISCELLANEOUS

         10.01 Notices. Except as otherwise specifically provided in this
Agreement, any and all notices, requests, elections, consents or demands
permitted or required to be made under this Agreement shall be in writing,
signed by the Member giving such notice, request, election, consent or demand,
and shall be delivered personally, or sent by registered or certified mail, or
by overnight mail, Federal Express or other similar commercial overnight
courier, to the other Member or Members at their addresses set forth in Schedule
A, and, in the case of a notice to the LLC, at the address of its principal
office as set forth in Article I hereof, or at such other address as may be
supplied by written notice given in conformity with the terms of this Section
10.01. The date of personal delivery, three days after the date of mailing, the
business day after delivery to an overnight courier, as the case may be, or the
date of actual delivery if sent by any other method (including electronic mail),
shall be the date of such notice.

         10.02 Successors and Assigns. Subject to the restrictions on transfer
set forth herein, this Agreement, and each and every provision hereof, shall be
binding upon and shall inure to the benefit of the Members, their respective
successors, successors-in-title, heirs and assigns, and each and every
successor-in-interest to any Member, whether such successor acquires such
interest by way of gift, purchase, foreclosure, or by any other method, shall
hold such interest subject to all of the terms and provisions of this Agreement.

         10.03 Amendments. Except as otherwise specifically provided in this
Agreement (including without limitation, Section 3.04 and Article VIII), this
Agreement may be amended or modified only by a Majority in Number of the Class B
Members; provided that (x) no such amendment shall increase the liability of,
increase the obligations of or adversely affect the interest of, any Member
without the specific approval of such Member (other than upon the occurrence of
a Separation Event, or upon admission of a Member in accordance with Section
8.02); (y) if any provision of this Agreement provides for the approval or
consent of a greater number of Members or of Members holding a higher percentage
of the total Percentage Interests of the Members, any amendment effectuated
pursuant to such provision, and

                                       20

<PAGE>

any amendment to such provision, shall require the approval or consent of such
greater number of Members or of Members holding such higher percentage of
Percentage Interests; and (z) subject to clauses (x) and (y) above, any
amendment to this Section 10.03 shall require the approval of Class B Members
holding not less than two-thirds of all Percentage Interests held by all Class B
Members.

         10.04 Partition. The Members hereby agree that no Member nor any
successor-in-interest to any Member, shall have the right while this Agreement
remains in effect to have the property of the LLC partitioned, or to file a
complaint or institute any proceeding at law or in equity to have the property
of the LLC partitioned, and each Member, on behalf of himself, his successors,
representatives, heirs and assigns, hereby waives any such right. It is the
intention of the Members that during the term of this Agreement, the rights of
the Members and their successors-in-interest, as among themselves, shall be
governed by the terms of this Agreement, and that the right of any Member or
successor-in-interest to assign, transfer, sell or otherwise dispose of his
interest in the LLC shall be subject to the limitations and restrictions of this
Agreement.

         10.05 No Waiver. The failure of any Member to insist upon strict
performance of a covenant hereunder or of any obligation hereunder, irrespective
of the length of time for which such failure continues, shall not be a waiver of
such Member's right to demand strict compliance in the future. No consent or
waiver, express or implied, to or of any breach or default in the performance of
any obligation hereunder, shall constitute a consent or waiver to or of any
other breach or default in the performance of the same or any other obligation
hereunder.

         10.06 Entire Agreement. This Agreement constitutes the full and
complete agreement of the parties hereto with respect to the subject matter
hereof.

         10.07 Captions. Titles or captions of Articles or sections contained in
this Agreement are inserted only as a matter of convenience and for reference,
and in no way define, limit, extend or describe the scope of this Agreement or
the intent of any provision hereof.

         10.08 Counterparts. This Agreement may be executed in a number of
counterparts, all of which together shall for all purposes constitute one
Agreement, binding on all the Members notwithstanding that all Members have not
signed the same counterpart.

         10.09 Applicable Law. This Agreement and the rights and obligations of
the parties hereunder shall be governed by and interpreted, construed and
enforced in accordance with the laws of the State of Delaware.

         10.10 Gender, Etc. In the case of all terms used in this Agreement, the
singular shall include the plural and the masculine gender shall include the
feminine and neuter, and vice versa, as the context requires.

         10.11 Creditors. None of the provisions of this Agreement shall be for
the benefit of or enforceable by any creditor of any Member or of the LLC other
than a Member who is such a creditor of the LLC.

                            [SIGNATURE PAGES FOLLOW.]

                                       21

<PAGE>

         IN WITNESS WHEREOF, the Members have signed and sworn to this Agreement
under penalties of perjury as of the date first above written.

                                    CLASS A MEMBER:

                                    /s/ Denise Ames
                                    --------------------------------
                                    Denise Ames

                                    /s/ Joshua Daniels
                                    --------------------------------
                                    Joshua Daniels

                                    /s/ Denise W. Marks
                                    --------------------------------
                                    Denise W. Marks

                                    /s/ Janet Veino
                                    --------------------------------
                                    Janet Veino

                                    CLASS B MEMBERS:

                                    /s/ David S. Wetherell
                                    --------------------------------
                                    David S. Wetherell

                                    /s/ Guy A. Bradley
                                    --------------------------------
                                    Guy A. Bradley

                                    /s/ Jonathan Callaghan
                                    --------------------------------
                                    Jonathan Callaghan

                                    /s/ Andrew J. Hajducky, III
                                    --------------------------------
                                    Andrew J. Hajducky, III

                                    /s/ Peter H. Mills
                                    --------------------------------
                                    Peter H. Mills

                                    /s/ Marc Poirier
                                    --------------------------------
                                    Marc Poirier

                                    /s/ Brad Garlinghouse
                                    --------------------------------
                                    Brad Garlinghouse

                                    /s/ David Nerrow
                                    --------------------------------
                                    David Nerrow

                                       22

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