Document:

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EXHIBIT 10.1
                               SILICON VALLEY BANK
                            3003 Tasman Drive/HF 226
                              Santa Clara, CA 95054
                       (408) 654-1000 - Fax (408) 980-6410

     This NON-RECOURSE RECEIVABLES PURCHASE AGREEMENT (the "Agreement"), dated
as of September 26, 2000, is between SILICON VALLEY BANK, ("Buyer") and ALLAIRE
CORPORATION, a Delaware corporation, ("Seller"), with its chief executive office
at:

          Street Address:          275 Grove Street
          City:                    Newton
          County:
          State:                   Massachusetts
          Zip code:                02466
          Fax:                     (617) 219-2151

     1.   DEFINITIONS. In this Agreement:

          1.1  "Payment" is when Buyer has received payments equal to the Total
Purchased Receivables.

          1.2  "Purchased Receivables" is all accounts, receivables, chattel
paper, instruments, contract rights, documents, general intangibles, letters of
credit, drafts, bankers acceptances other rights to payment and all proceeds
arising from the invoices and other agreements on the Schedule.

          1.3  "Related Property" is all returned or rejected goods connected
with the Purchased Receivables or books and records about the Purchased
Receivables or returned or rejected goods; or proceeds from voluntary or
involuntary dispositions, including insurance proceeds.

          1.4  "Schedule" is the attached schedule showing the: Purchase Date,
Due Date, Total Purchased Receivables, Discount Rate, Purchase Price,
Administrative Fee and Interest Reserve amount.

     2.   PURCHASE AND SALE OF RECEIVABLES.

          2.1  SALE AND PURCHASE. On the Purchase Date, Seller sells and Buyer
buys Seller's right, title, and interest (but none of Sellers obligations) to
payment from any person liable on a Purchased Receivable, ("Account Debtors").

     Each purchase and sale is at Buyer's and Seller's discretion. Buyer will
not (i) pay Seller an aggregate outstanding amount exceeding Ten Million Dollars
($10,000,000.00) or (ii) buy any Purchased Receivable after September 26, 2001
(the "Maturity Date"). Each purchase and sale will be on an assignment form
acceptable to Buyer.

          2.2  PAYMENT OF PURCHASE PRICE AND LATE PAYMENT.

               (a)  Payment of Purchase Price. For each Purchased Receivable,
Buyer will pay Seller, on the Purchase Date, the Purchase Price, less the
Administrative Fee and legal fees (if any).

               (b)  Late Payment. If Payment is made after the Due Date, as
listed on the Schedule, then on the earlier of Payment or 90 days, Seller will
also pay Buyer the product of the Discount Rate and the average daily balance of
the unpaid Purchased Receivable multiplied by the

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number of days between the scheduled payment date or the earlier of the date of
actual payment or 90 days after the scheduled payment date, divided by 360.

          2.3  Seller may not sell or convey any interest in Related Property
without Buyer's prior written consent. Seller will sign UCC financing statements
and any other instruments or documents to evidence, perfect or protect Buyer's
interests in the Purchased Receivables and Related Property. Seller will deliver
to Buyer all original instruments, chattel paper and documents about Purchased
Receivables and Related Property.

     3.   COLLECTIONS, PAYMENTS AND REMITTANCES.

          3.1  APPLICATION OF PAYMENTS. All payments for any Purchased
Receivable, received by Seller or Buyer, are Buyer's property.

          3.2  COLLECTION BY SELLER.

               (a)  Buyer appoints Seller its attorney-in-fact to receive
payments and enforce its rights and designates Seller it's assignee for
collection. Seller will use diligence and commercially reasonable means to
collect Purchased Receivables. Buyer may revoke these appointments at any time.

               (b)  Seller will begin legal proceedings about Purchased
Receivables in its name (as Buyer's assignee for collection or enforcement) or,
with Buyer's prior written consent, in Buyer's name. Seller will not make Buyer
party to any litigation or arbitration without Buyer's written consent.

               (c)  Seller will hold in trust for and give Buyer: (i) all
payments made by Account Debtors, and (ii) all instruments, chattel paper and
other proceeds of the Purchased Receivables.

               (d)  Unless an Event of Repurchase occurs and continues Seller
will remit payments to Buyer on the last business day of each week ("Settlement
Date") starting the week after the Purchase Date. On each Settlement Date Seller
will deliver a report acceptable to Buyer of account activity (including dates
and amounts of payments) and changes for each Purchased Receivable.

          3.3  NO OBLIGATION TO TAKE ACTION. Buyer has a right, but no
obligation, to perform Seller's obligations or to take action on any Purchased
Receivable (including on defaulted Purchased Receivables).

     4.   NON-RECOURSE; REPURCHASE OBLIGATIONS.

          4.1  NON-RECOURSE AND SELLER'S AGREEMENT TO REPURCHASE. Buyer acquires
Purchased Receivables without recourse, except Seller will, at Buyer's option,
repurchase from Buyer any Purchased Receivable for a purchase price equal to the
unpaid portion of any Purchased Receivable:

               (a)  For which there has been any breach of warranty,
representation or covenant in this Agreement; or

               (b)  For which the Account Debtor asserts any discount,
allowance, return, dispute, defense, right of recoupment, right of return,
warranty claim, or short payment.

Seller will reimburse Buyer for Buyer's reasonable attorneys' and professional
fees and expenses and all court costs for collecting Purchased Receivables
and/or enforcing its rights under this Agreement.

          4.2  PAYMENT TO BUYER. Seller will pay Buyer in immediately available
funds.

     5.   REPRESENTATIONS, WARRANTIES AND COVENANTS.

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          5.1  PURCHASED RECEIVABLES - WARRANTIES, REPRESENTATIONS AND
COVENANTS. Seller represents, warrants and covenants for each Purchased
Receivable:

               (a)  It is the owner with legal right to sell, transfer and
assign it;

               (b)  The correct amount is on the Schedule and to the knowledge
of Seller is not disputed;

               (c)  No payment is contingent on any obligation or contract, and
it has fulfilled all its obligations as of the Purchase Date;

               (d)  It is based on actual sale and delivery of goods and/or
services rendered, due no later than its Due Date and owing to Seller, it is not
past due or in default, has not been previously sold, assigned, transferred, or
pledged, and is free of any liens, security interests and encumbrances;

               (e)  To the knowledge of Seller there are no defenses, offsets,
counterclaims or agreements in which the Account Debtor may claim any deduction
or discount;

               (f)  It reasonably believes no Account Debtor is insolvent as
defined in the United States Bankruptcy Code ("US Code") or the California
Uniform Commercial Code ("UCC") and to the knowledge of Seller no Account Debtor
has filed or had filed against it a voluntary or involuntary petition for relief
under the US Code.; and

               (g)  No Account Debtor has objected to payment for or the quality
or quantity of the subject of the Purchased Receivable.

          5.2  ADDITIONAL WARRANTIES, REPRESENTATIONS AND COVENANTS. Seller
represents, warrants and covenants:

               (a)  Its name, form of organization, chief executive office, and
the place where the records about all Purchased Receivables are kept is shown at
the beginning of this Agreement and it will give Buyer at least 10 days prior
written notice of changes to its name, organization, chief executive office or
location of records.

               (b)  It has not filed a voluntary petition or had filed against
it an involuntary petition under the US Code and does not anticipate any filing;

               (c)  If Payment of any Purchased Receivable does not occur by its
Due Date then Seller will provide a written report, within 10 days, of the
reasons for the delay.

               (d)  While any Purchased Receivable is outstanding, Seller will
give Buyer copies of all Forms 10-K, 10-Q and 8-K (or equivalents) within 5 days
of its filing with the Securities and Exchange Commission.

     6.   ADJUSTMENTS. If any Account Debtor asserts a discount, allowance,
return, offset, defense, warranty claim, or the like (an "Adjustment") Seller
will promptly advise Buyer and, with Buyer's approval, resolve the dispute.
Seller will resell any rejected, returned, or recovered personal property for
Buyer, at Seller's expense, with the proceeds payable to Buyer. While Seller has
returned goods that are Buyer's property, Seller will segregate and mark them
"property of Silicon Valley Bank." Buyer owns the Purchased Receivables and
until Payment has the right to take possession of any rejected, returned, or
recovered personal property.

     7.   INDEMNIFICATION.

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               (a)  If any Account Debtor is released from any payment
obligation for any Purchased Receivable because of: (i) Seller's act or
omission; or (ii) any of the documentation about the Purchased Receivables which
results in termination of any part of the Account Debtor's obligation for the
Purchased Receivables, then Seller will pay Buyer the lesser of the amount of
the Purchased Receivable not payable or the unpaid portion of the Purchased
Receivable.

               (b)  Seller indemnifies and holds Buyer harmless from any taxes
from this transaction (except Buyer's income taxes) and costs, expenses and
reasonable attorney fees if Buyer promptly notifies it of any taxes of which
Buyer has notice.

     8.   REPURCHASE EVENTS. Any of the following is an Event of Repurchase:

               (a)  Seller fails to pay Buyer any amount when due under Section
2.2(b), 3.2(c), 3.2(d), 4.1, 7 or 10;

               (b)  An involuntary lien, garnishment, attachment or the like is
issued against or attaches to the Purchased Receivables or Related Property; and

               (c)  Seller breaches a covenant, agreement, warranty, or
representation in this Agreement and the breach is not cured to Buyer's
satisfaction within 10 days after Buyer gives Seller oral or written notice. A
breach that cannot be cured is an immediate default.

     9.   REPURCHASE OPTION. When an Event of Repurchase occurs Buyer shall have
a right to require Seller to repurchase all of the affected Purchased
Receivables for a purchase price equal to the amount(s) specified in Section
4.1. Buyer shall also have all rights and remedies under this Agreement and the
law, including those of a secured party under the UCC, and the right to collect,
dispose of, sell, lease or use all Purchased Receivables and Related Property.

     10.  FEES, COSTS AND EXPENSES. Immediately on demand Seller will pay all
reasonable fees, costs and expenses (including attorney and professional fees)
that Buyer incurs from (a) preparing, negotiating, administering and enforcing
this Agreement or any other agreement, including amendments, waivers or
consents, (b) litigation or disputes relating to the Purchased Receivables, the
Related Property, this Agreement or any other agreement, (c) enforcing rights
against Seller, (d) protecting or enforcing its title to the Purchased
Receivables or its security interest in the Related Property, (e) collecting any
amounts due from Seller or for a Purchased Receivable under a breach of Seller's
representation, warranty or covenant and (f) any bankruptcy case or insolvency
proceeding involving Seller.

     11.  CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER. The Commonwealth of
Massachusetts law governs this Agreement. Seller and Buyer each submit to the
exclusive jurisdiction of the Commonwealth of Massachusetts.

SELLER AND BUYER EACH WAIVE ITS RIGHT TO A JURY TRIAL FROM ANY CAUSE OF ACTION
RELATED TO AGREEMENT, INCLUDING CONTRACT, TORT, BREACH OF DUTY OR OTHER CLAIM.
THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER THIS AGREEMENT.
EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

     12.  NOTICES. Notices or demands by either party about this Agreement must
be in writing and personally delivered or sent by an overnight delivery service,
by certified mail postage prepaid return receipt requested, or by FAX to the
addresses below:

     Seller: Allaire Corporation
             275 Grove Street
             Newton, Massachusetts 02466
             Attn: Chief Financial Officer

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             FAX: (617) 761-2007

     Buyer:  Silicon Valley Bank
             3003 Tasman Drive/HF 226
             Santa Clara, CA 95054
             Attn: Credit Manager
             FAX: (408) 980-6410

     A party may change notice address by written notice to the other party.

     13.  GENERAL PROVISIONS.

          13.1 SUCCESSORS AND ASSIGNS. This Agreement binds and is for the
benefit of successors and permitted assigns of each party. Seller may not assign
this Agreement or any rights under it without Buyer's prior written consent
which may be granted or withheld in Buyer's discretion. Buyer may, without the
consent of or notice to Seller, sell, transfer, or grant participation in any
part of Buyer's obligations, rights or benefits under this Agreement.

          13.2 INDEMNIFICATION. Seller will indemnify, defend and hold harmless
Buyer and its officers, employees, and agents against: (a) obligations, demands,
claims, and liabilities asserted by any other party in connection with the
transactions contemplated by this Agreement; and (b) losses or expenses
incurred, or paid by Seller from or consequential to transactions between Buyer
and Seller (including reasonable attorneys fees and expenses), except for losses
caused by Buyer's gross negligence or willful misconduct.

          13.3 TIME OF ESSENCE. Time is of the essence for performance of all
obligations in this Agreement.

          13.4 SEVERABILITY OF PROVISION. Each provision of this Agreement is
severable from every other provision in determining the enforceability of any
provision.

          13.5 AMENDMENTS IN WRITING, INTEGRATION. All amendments to this
Agreement must be in writing. This Agreement is the entire agreement about this
subject matter and supersedes prior negotiations or agreements.

          13.6 COUNTERPARTS. This Agreement may be executed in any number of
counterparts and by different parties on separate counterparts and when executed
and delivered are one Agreement.

          13.7 SURVIVAL. All covenants, representations and warranties made in
this Agreement continue in full force while any Purchased Receivable amount
remains outstanding. Seller's indemnification obligations survive until all
statutes of limitations for actions that may be brought against Buyer have run.

          13.8 CONFIDENTIAL INFORMATION. Buyer will use the same degree of care
in handling Seller's confidential information that it uses for its own
proprietary information, but may disclose information; (i) to its subsidiaries
or affiliates in connection with their business with Seller, (ii) to prospective
transferees or purchasers of any interest in the Agreement, (iii) as required by
law, regulation, subpoena, or other order, (iv) as required in connection with
an examination or audit and (v) as it considers appropriate exercising the
remedies under this Agreement. Confidential information does not include
information that is either: (a) in the public domain or in Buyer's possession
when disclosed, or becomes part of the public domain after disclosure to Buyer;
or (b) disclosed to Buyer by a third party, if Buyer does not know that the
third party is prohibited from disclosing the information.

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SELLER:   ALLAIRE CORPORATION,
          a Delaware corporation

By /s/ David A. Gerth
   -------------------------------------

Title CFO
      ----------------------------------

BUYER:    SILICON VALLEY BANK

By /s/ Mike Field
   -------------------------------------

Title Senior Vice President
      ----------------------------------

                                       6<PAGE>   1
                                                                   EXHIBIT 10.66

                         EXECUTIVE EMPLOYMENT AGREEMENT

                                     PARTIES

     This Employment Agreement (this "Agreement") dated as of the 1st day of
September, 2000, is entered into by and between PolyMedica Corporation, a
Massachusetts corporation having its principal place of business at 11 State
Street, Woburn, Massachusetts 01801 or any of its subsidiaries or affiliates
(collectively, the "Company") and Steven J. Lee, an individual with an address
at 112 Farm Road, Sherborn, Massachusetts 01770 (the "Executive").

                               TERMS OF AGREEMENT

     In consideration of this Agreement and the employment and/or continued
employment of the Executive by the Company, the parties agree as follows:

     1. EMPLOYMENT. The Company hereby employs Executive, on a full-time basis,
to act as an executive of the Company and to perform such acts and duties and
furnish such services to the Company as the Company's Chief Executive Officer or
Board of Directors (the "Board") shall from time to time reasonably direct.
Executive hereby accepts said employment. Executive shall use his best and most
diligent efforts to promote the interests of the Company; shall discharge his
duties in a highly competent manner; and shall devote his full business time and
his best business judgment, skill and knowledge to the performance of his duties
and responsibilities hereunder. Executive shall report directly to the Chief
Executive Officer of the Company or such officer of the Company as may be
designated by the Chief Executive Officer or the Board. Nothing contained herein
shall preclude Executive from devoting incidental and insubstantial amounts of
time to activities other than the business of the Company and which are not
inconsistent with the best interests of the Company.

     2. TERMS OF EMPLOYMENT. The Company agrees to employ the Executive for a
twelve (12) month period commencing on the date hereof (the "Employment
Period"). Notwithstanding the foregoing, both Executive and the Company shall
have the right to terminate the Executive's employment under this Agreement upon
thirty (30) days' written notice to the other party, subject to the Company's
obligation to pay severance benefits under certain circumstances as provided in
Section 3.6. If Executive shall remain in the employ of the Company beyond the
Employment Period, in the absence of any other express agreement between the
parties, this Agreement shall be deemed to continue on a month-to-month basis
(the "Extended Employment Period").

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     3. COMPENSATION AND BENEFITS; DISABILITY.

        3.1. SALARY. During Executive's employment, the Company shall pay
Executive an annualized base salary of $400,000 ("Base Salary") payable in equal
installments pursuant to the Company's customary payroll policies in force at
the time of payment (but in no event less frequently than monthly), less
required payroll deductions and state and federal withholdings. Executive's Base
Salary may be adjusted from time to time in the sole discretion of the Board or
the Compensation Committee of the Board (the "Compensation Committee") and shall
be reviewed annually by the Compensation Committee.

        3.2. BONUS PAYMENT. During the Employment Period, Executive may
receive, in the sole discretion of the Compensation Committee, an annual bonus
payment in an amount, if any, to be determined by the Compensation Committee.

        3.3. EXECUTIVE BENEFITS. During the Employment Period, Executive shall
be entitled to participate in all benefit programs that the Company establishes
and makes available to its other executives and employees, if any, in accordance
with the relevant plan documents and requirements, including but not limited to
the following benefits:

        (a) HEALTH INSURANCE. Health and dental insurance; and

        (b) LIFE INSURANCE. Life insurance on the life of Executive with an
Executive-directed beneficiary in the amount of 150% of Executive's Base Salary.

        (c) STOCK BASED COMPENSATION. Executives will be eligible to
participate in the Company's Employee Stock Purchase Plan and to be considered
by the Compensation Committee for grants or awards of stock options or other
stock-based compensation under the Company's Stock Incentive Plan or similar
plans from time to time in effect. All such grants or awards shall be governed
by the governing Plan and shall be evidenced by the Company's then standard form
of stock option, restricted stock or other applicable agreement.

        3.4. VACATION. Executive may take six weeks of paid vacation during
each year at such times as shall be consistent with the Company's vacation
policies and (in the Company's judgment) with the Company's vacation schedule
for executives and other employees.

        3.5. DISABILITY. If during the Employment Period Executive shall become
ill, disabled or otherwise incapacitated so as to be unable to perform the
essential functions of his position with or without reasonable accommodation, as
may be required by state law, (a) for a period in excess of ninety (90)
consecutive days or (b) for more than one hundred twenty (120) days in any
twelve (12) month period, then the Company shall have the right to terminate
this Agreement, in accordance with applicable laws, on thirty (30) days' notice
to Executive. A determination of disability shall be made by a physician
satisfactory to both the Executive and the Company, PROVIDED THAT if the
Executive and the Company do not agree on a physician, the Executive and the
Company shall each select a physician and these two together shall select a
third physician, whose determination shall be binding on all parties.

        3.6. SEVERANCE PAY. In the event that prior to any "Change of Control"

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as defined in the Executive Retention Agreement dated September 1, 2000, the
Company terminates this Agreement without cause (i.e., other than pursuant to
Section 3.5 or Section 4 hereof) at any time (including during the Extended
Employment Period), and subject to the Executive's execution and non-revocation
of a severance agreement and release drafted by and satisfactory to counsel for
the Company, the Company shall continue to pay Executive at his then current
Base Salary for the remainder of the Employment Period or for one year,
whichever is longer (the "Severance Period"). Neither party shall be entitled to
any compensation or claim for good will or other loss suffered by reason of
termination of this Agreement.

        3.7 BENEFITS DURING SEVERANCE PERIOD. Except as otherwise required by
law, the Executive shall not be entitled to any employee benefits provided under
Section 3.3 after termination of Executive's employment whether or not severance
pay is being provided, except that (i) the Company shall continue in full force
and effect, at its expense, the life insurance provided for in Section 3.3(b)
for a period of (1) year after termination of Executive's employment hereunder
or until Executive becomes employed, whichever first occurs, and (ii) during the
Severance Period, the Company shall offer continued health and dental insurance
as required under the Consolidated Omnibus Budget Reconciliation Act of 1985
("COBRA") or other law. If Executive elects not to maintain health insurance
pursuant to COBRA or other law, the Company is under no obligation to reimburse
Executive for his otherwise elected coverage. Executive shall be obligated to
give the Company prompt notice of his subsequent employment.

     4. DISCHARGE FOR CAUSE. The Company may discharge Executive and terminate
his employment under this Agreement for cause without further liability to the
Company. As used in this Section 4, "cause" shall mean any or all of the
following:

        (a) a good faith finding by the Company of failure of the Executive to
perform his assigned duties for the Company, including but not limited to
dishonesty, gross negligence, misconduct, theft or embezzlement from the
Company, the intentional provision of services to competitors of the Company, or
improper disclosure of proprietary information.

        (b) indictment, conviction (or the entry of a pleading of guilty or
nolo contendere by Executive) of a fraud or felony or any criminal offense
involving dishonesty, breach of trust or moral turpitude during Executive's
employment;

        (c) Executive's breach of any of the agreements executed in connection
herewith as enumerated in Section 10.1.

     In the event the Company exercises its right to terminate Executive's
employment under this Section 4, Executive shall not be entitled to receive any
severance pay or other termination benefits.

     5. TERMINATION WITHOUT CAUSE. The Company may terminate this Agreement
without cause without further liability to the Company except as set forth in
Section 3.6 and 3.7.

     6. EXPENSES. Pursuant to the Company's customary policies in force at the
time of payment, Executive shall be promptly reimbursed.

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     7. AGREEMENT NOT TO COMPETE. Executive acknowledges and confirms his
Agreement Not to Compete and his Confidentiality and Proprietary Information
Agreement, each dated May 16, 1990, (or under any similar later agreements) with
the Company (the "Additional Agreements"), which shall survive the termination
of this Agreement.

     8. ARBITRATION. The Employee agrees that any dispute or controversy arising
out of or relating in any way to the Employee's employment with and/or
termination from the Company (including, but not limited to, all claims, demands
or actions under any federal, state or local statute or regulation regarding
employment discrimination, and/or all claims, demands or actions concerning the
interpretation, construction, performance or breach of this Employment
Agreement) shall be settled by arbitration held in Boston, Massachusetts in
accordance with the Rules of the American Arbitration Association, before an
arbitrator who shall have experience in the area of the matter in dispute. (Each
party shall bear its own costs and attorneys' fees in connection with any
arbitration pursuant to this paragraph.) Provided, however, that this paragraph
shall not apply to any dispute or controversy arising out of or relating in any
way to the interpretation, construction, performance or breach of the
Non-Solicitation and Non-Competition Agreement contained at Paragraph 4 herein
or the Confidential Information and Non-Disclosure Agreement attached hereto as
Exhibit A, and no such dispute or controversy shall be deemed to be arbitrable
in the absence of the Corporation's written agreement.

     9. NOTICES. Any notice or communication given by any party hereto to the
other party or parties shall be in writing and personally delivered or mailed by
certified mail, return receipt requested, postage prepaid, to the addresses
provided above. All notices shall be deemed given when actually received. Any
person entitled to receive notice (or a copy thereof) may designate in writing,
by notice to the others, another address to which notices to such person shall
thereafter be sent.

    10. MISCELLANEOUS.

        10.1. ENTIRE AGREEMENT. This Agreement contains the entire
understanding of the parties in respect of its subject matter and supersedes all
prior agreements and understandings between the parties with respect to such
subject matter; provided that nothing in this Agreement shall affect Executive's
or the Company's obligations under the Additional Agreements.

        10.2 AMENDMENT; WAIVER. This Agreement may not be amended,
supplemented, cancelled or discharged, except by written instrument executed by
the party affected thereby. No failure to exercise, and no delay in exercising,
any right, power or privilege hereunder shall operate as a waiver thereof. No
waiver of any breach of any provision of this Agreement shall be deemed to be a
waiver of any preceding or succeeding breach of the same or any other provision.

        10.3. BINDING EFFECT; ASSIGNMENT. The rights and obligations of this
Agreement shall bind and inure to the benefit of any successor of the Company by
reorganization, merger or consolidation, or any assignee of all or substantially
all of the Company's business and properties. Executive's rights or obligations
under this Agreement may not be assigned by Executive; except that Executive's
right to compensation to the earlier of date of death or termination of actual
employment shall pass to Executive's executor or administrator.

<PAGE>   5

        10.4. HEADINGS. The headings contained in this Agreement are for
reference purposes only and shall not affect the meaning or interpretation of
this Agreement.

        10.5. APPLICABLE LAW. This Agreement shall be interpreted and construed
by the laws of the Commonwealth of Massachusetts, without regard to conflict of
laws provisions. Executive hereby irrevocably submits and acknowledges and
recognizes the jurisdiction of the courts of the Commonwealth of Massachusetts,
or if appropriate, a federal court located in Massachusetts (which courts, for
purposes of this Agreement, are the only courts of competent jurisdiction), over
any suit, action or other proceeding arising out of, under or in connection with
this letter agreement or the subject matter hereof.

        10.6 OTHER AGREEMENTS. Executive hereby represents that he is not bound
by the terms of any agreement with any previous employer or other party to
refrain from using or disclosing any trade secret or confidential or proprietary
information in the course of his employment with the Company, or to refrain from
competing, directly or indirectly, with the business of such previous employer
or any other party. Employee further represents that his performance of all the
terms of this Agreement and as an employee of the Company does not and will not
breach any agreement to keep in confidence proprietary information, knowledge or
data acquired by him in confidence or trust prior to his employment with the
Company.

        10.7. FURTHER ASSURANCES. Each of the parties agrees to execute,
acknowledge, deliver and perform, or cause to be executed, acknowledged,
delivered or performed, at any time, or from time to time, as the case may be,
all such further acts, deeds, assignments, transfers, conveyances, powers of
attorney and assurances as may be necessary or proper to carry out the
provisions or intent of this Agreement.

        10.8. SEVERABILITY. If any one or more of the terms, provisions,
covenants or restrictions of this Agreement shall be determined by a court of
competent jurisdiction to be invalid, void or unenforceable, the remainder of
the terms, provisions, covenants and restrictions of this Agreement shall remain
in full force and effect and shall in no way be affected, impaired or
invalidated. If, moreover, any one or more of the provisions contained in this
Agreement shall for any reason be determined by a court of competent
jurisdiction to be excessively broad as to duration, geographical scope,
activity or subject, it shall be construed by limiting or reducing it so as to
be enforceable to the extent compatible with then applicable law.

<PAGE>   6

                                    EXECUTION

     The parties executed this Agreement as a sealed instrument as of the date
first above written, whereupon it becomes binding in accordance with its terms.

                                         POLYMEDICA CORPORATION

                                         /s/ Arthur A. Siciliano
                                         --------------------------
                                         By:    Arthur A. Siciliano
                                         Title: President

AGREED TO AND ACCEPTED:

/s/ Steven J. Lee
--------------------------------
       Steven J. Lee

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