Document:

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                                                                   Exhibit 10.20

                     ACCOUNTS RECEIVABLE FINANCING AGREEMENT

      This ACCOUNTS RECEIVABLE FINANCING AGREEMENT is entered into this 9th day
of August, 2001 by and between SILICON VALLEY BANK, a California-chartered bank,
with its principal place of business at 3003 Tasman Drive, Santa Clara,
California 95054 and with a loan production office located at One Newton
Executive Park, Suite 200, 2221 Washington Street, Newton, Massachusetts 02462,
doing business under the name "Silicon Valley East" (FAX 617-969-5965) ("Bank")
and GREENFIELD ONLINE, INC., a Delaware corporation with its principal place of
business at 21 River Road, Wilton, Connecticut 06897 (FAX 203-838-8686)
("Borrower") and provides the terms on which Bank shall lend to Borrower and
Borrower shall repay Bank. The parties agree as follows:

1.    DEFINITIONS. In this Agreement:

      "ACCOUNTS" are all existing and later arising accounts, contract rights,
and other obligations owed Borrower in connection with its sale or lease of
goods (including licensing software and other technology) or provision of
services, all credit insurance, guaranties, other security and all merchandise
returned or reclaimed by Borrower and Borrower's Books relating to any of the
foregoing.

      "ACCOUNT BALANCE" is the aggregate outstanding Advances made hereunder.

      "ACCOUNT DEBTOR" is as defined in the Code and shall include, without
limitation, any person liable on any Financed Receivable, such as, a guarantor
of the Financed Receivable and any issuer of a letter of credit or banker's
acceptance.

      "ADJUSTED QUICK RATIO" is the ratio of Quick Assets to Current Liabilities
minus Deferred Revenue.

      "ADJUSTMENTS" are all discounts, allowances, returns, disputes,
counterclaims, offsets, defenses, rights of recoupment, rights of return,
warranty claims, or short payments, asserted by or on behalf of any Account
Debtor for any Financed Receivable.

      "ADVANCE" is defined in Section 2.2.

      "ADVANCE RATE" is eighty percent (80.0%), net of any offsets related to
each specific Account Debtor, or such other percentage as Bank establishes under
Section 2.2; provided however, if the Borrower is unable to maintain a Adjusted
Quick Ratio of at least 1.25 to 1.0, then the Advance Rate will be 80% net of
Deferred Revenue and offsets related to each specific Account Debtor.

      "APPLICABLE RATE" is a per annum rate equal to the "Prime Rate" plus one
and three-quarters percent (1.75%).

      "BORROWER'S BOOKS" are all Borrower's books and records including ledgers,
records regarding Borrower's assets or liabilities, the Collateral, business
operations or financial condition and all computer programs or discs or any
equipment containing the information.

      "CODE" is the Uniform Commercial Code as adopted by The Commonwealth of
Massachusetts (presently, Mass. Gen. Laws, Ch. 106), as may be amended and in
effect from time to time.

      "COLLATERAL" is attached as EXHIBIT "A".

      "COLLATERAL HANDLING FEE" is defined in Section 3.4.

      "COLLECTIONS" are all funds received by Bank from or on behalf of an
Account Debtor for Financed Receivables.

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      "COMPLIANCE CERTIFICATE" is attached as EXHIBIT "B".

      "CONTINGENT OBLIGATION" is, for any Person, any direct or indirect
liability, contingent or not, of that Person for (i) any indebtedness, lease,
dividend, letter of credit or other obligation of another such as an obligation
directly or indirectly guaranteed, endorsed, co-made, discounted or sold with
recourse by that Person, or for which that Person is directly or indirectly
liable; (ii) any obligations for undrawn letters of credit for the account of
that Person; and (iii) all obligations from any interest rate, currency or
commodity swap agreement, interest rate cap or collar agreement, or other
agreement or arrangement designated to protect a Person against fluctuation in
interest rates, currency exchange rates or commodity prices; but "Contingent
Obligation" does not include endorsements in the ordinary course of business.
The amount of a Contingent Obligation is the stated or determined amount of the
primary obligation for which the Contingent Obligation is made or, if not
determinable, the maximum reasonably anticipated liability for it determined by
the Person in good faith; but the amount may not exceed the maximum of the
obligations under the guarantee or other support arrangement.

      "CURRENT LIABILITIES" are the aggregate amount of Borrower's Total
Liabilities which mature within one (1) year.

      "DEFERRED REVENUE" is all amounts received in advance of performance under
contracts and not yet recognized as revenue.

      "EARLY TERMINATION FEE" is defined in Section 4.3.

      "EBITDA" means earnings before interest, taxes, depreciation and
amortization in accordance with GAAP.

      "EVENT OF DEFAULT" is defined in Section 9.

      "FACILITY" is an extension of credit by Bank to Borrower in order to
finance Receivables with an aggregate Account Balance not exceeding the Facility
Amount.

      "FACILITY AMOUNT" is Four Million Dollars ($4,000,000.00).

      "FACILITY FEE" is defined in Section 3.3.

      "FACILITY PERIOD" is the period beginning on this date and continuing
until one year from the date of this Agreement, unless the period is terminated
sooner by Bank with notice to Borrower or by Borrower pursuant to Section 4.3.

      "FINANCE CHARGES" is defined in Section 3.2.

      "FINANCED RECEIVABLES" are all those accounts, receivables, chattel paper,
instruments, contract rights, documents, general intangibles, letters of credit,
drafts, bankers acceptances, and rights to payment, and all proceeds, including
their proceeds (collectively "receivables"), which Bank finances and make an
Advance. A Financed Receivable stops being a Financed Receivable (but remains
Collateral) when the Advance made for the Financed Receivable has been finally
paid.

      "FINANCED RECEIVABLE BALANCE" is the total outstanding amount, at any
time, of all Financed Receivables.

      "GAAP" is generally accepted accounting principles as adopted by the
Financial Accounting Standards Board.

      "GOOD FAITH DEPOSIT" is described in Section 3.8.

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      "INDEBTEDNESS" is (a) indebtedness for borrowed money or the deferred
price of property or services, such as reimbursement and other obligations for
surety bonds and letters of credit, (b) obligations evidenced by notes, bonds,
debentures or similar instruments, (c) capital lease obligations and (d)
Contingent Obligations.

      "INELIGIBLE RECEIVABLE" is any accounts receivable:

            (a)   that is unpaid (90) calendar days after the invoice date; or

            (b)   that is owed by an Account Debtor that has filed, or has had
                  filed against it, any bankruptcy case, assignment for the
                  benefit of creditors, receivership, or Insolvency Proceeding
                  or who has become insolvent (as defined in the United States
                  Bankruptcy Code) or who is generally not paying its debts as
                  they become due; or

            (c)   for which there has been any breach of warranty or
                  representation in Section 6 or any breach of any covenant in
                  this Agreement; or

            (d)   for which the Account Debtor asserts any discount, allowance,
                  return, dispute, counterclaim, offset, defense, right of
                  recoupment, right of return, warranty claim, or short payment.

      "INSOLVENCY PROCEEDING" are proceedings by or against any person under the
United States Bankruptcy Code, or any other bankruptcy or insolvency law,
including assignments for the benefit of creditors, compositions, extensions
generally with its creditors, or proceedings seeking reorganization,
arrangement, or other similar relief.

      "INVOICE TRANSMITTAL" shows accounts receivable which Bank may finance
and, for each receivable, includes the Account Debtor's, name, address, invoice
amount, invoice date and invoice number and is signed by Borrower's authorized
representative.

      "LOCKBOX" is described in Section 6.3(J).

      "MINIMUM FINANCE CHARGE" is a minimum monthly Finance Charge of $7,500.00
payable to the Bank.

      "OBLIGATIONS" are all advances, liabilities, obligations, covenants and
duties owing, arising, due or payable by Borrower to Bank now or later under
this Agreement or any other document, instrument or agreement, account
(including those acquired by assignment) primary or secondary, such as all
Advances, Finance Charges, Facility Fee, Early Termination Fee, Collateral
Handling Fee, interest, fees, expenses, professional fees and attorneys' fees,
or other amounts now or hereafter owing by Borrower to Bank.

      "PERMITTED INDEBTEDNESS" is: (i) Borrower's Indebtedness to Bank under
this Agreement; (ii) Indebtedness existing on the Closing Date and shown on the
Schedule entitled "permitted indebtedness"; (iii) Indebtedness to trade
creditors incurred in the ordinary course of business; (iv) Indebtedness secured
by Permitted Liens; (v) Subordinated Debt; and (v) reimbursement obligations not
to exceed $200,000 regarding letters of credit issued on behalf of Borrower for
the benefit of Borrower's landlords.

      "PERMITTED LIENS" are: (i) Liens existing on the Closing Date and shown on
the Schedule entitled "permitted liens" or arising under this Agreement; and
(ii)Purchase money Liens securing Indebtedness not to exceed $750,000 (A) on
Equipment acquired or held by Borrower incurred for financing the acquisition of
the Equipment, or (B) existing on Equipment when acquired, if the Lien is
confined to the property and improvements and the proceeds of such specific
Equipment.

      "PERSON" is any individual, sole proprietorship, partnership, limited
liability company, joint venture, company, trust, unincorporated organization,
association, corporation, institution, public benefit corporation, firm, joint
stock company, estate, entity or government agency.

      "PRIME RATE" is Bank's most recently announced "Prime Rate," even if it is
not Bank's lowest rate.

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      "QUICK ASSETS" is, on any date, the Borrower's consolidated, unrestricted
cash, cash equivalents, net accounts receivable and investments with maturities
of fewer than 12 months determined according to GAAP.

      "RECONCILIATION DAY" is the last calendar day of each month.

      "RECONCILIATION PERIOD" is each calendar month.

      "SUBORDINATED DEBT" is debt incurred by Borrower subordinated to
Borrower's debt to Bank (and identified as subordinated by Borrower and Bank,
pursuant to a subordination agreement entered into between the Bank, the
Borrower and the subordinated creditor), on terms acceptable to Bank.

      "SUBSIDIARY" is for any Person, joint venture, or any other business
entity of which more than 50% of the voting stock or other equity interests is
owned or controlled, directly or indirectly, by the Person or one or more
Affiliates of the Person.

      "TOTAL LIABILITIES" is on any day, obligations that should, under GAAP, be
classified as liabilities on Borrower's consolidated balance sheet, including
all Indebtedness, and current portion Subordinated Debt allowed to be paid, but
excluding all other Subordinated Debt.

2.    FINANCING OF ACCOUNTS RECEIVABLE.

      2.1. REQUEST FOR ADVANCES. During the Facility Period, Borrower may offer
accounts receivable to Bank and request that the Bank finance such accounts
receivables, if there is not an Event of Default. Borrower will deliver an
Invoice Transmittal for each accounts receivable it offers. Bank may rely on
information on or with the Invoice Transmittal.

      2.2. ACCEPTANCE OF ACCOUNTS RECEIVABLE. Bank is not obligated to finance
any accounts receivable. Bank may approve any Account Debtor's credit before
agreeing to finance any accounts receivable. When Bank agrees to finance a
receivable, it will extend credit to Borrower in an amount up to the result of
the Advance Rate multiplied by the face amount of the receivable (the
"Advance"). Bank may, in its discretion, change the percentage of the Advance
Rate. When Bank makes an Advance, the receivable becomes a "Financed
Receivable." All representations and warranties in Section 6 must be true as of
the date of the Invoice Transmittal and of the Advance and no Event of Default
exists would occur as a result of the Advance. The aggregate amount of all
Financed Receivables outstanding at any time may not exceed the Facility Amount.

3. COLLECTIONS, FINANCE CHARGES, REMITTANCES AND FEES. The Obligations shall be
subject to the following fees and Finance Charges. Fees and Finance Charges may,
in Bank's discretion, be charged as an Advance, and shall thereafter accrue fees
and Finance Charges as described below. Bank may, in its discretion, charge fees
and Finance Charges to Borrower's deposit account maintained with Bank.

      3.1. COLLECTIONS. Collections will be credited to the Financed Receivables
Balance, but if there is an Event of Default, Bank may apply Collections to the
Obligations in any order it chooses. If Bank receives a payment for both a
Financed Receivable and a non Financed Receivable, the funds will first be
applied to the Financed Receivable and, if there is not an Event of Default, the
excess will be remitted to the Borrower, subject to Section 3.7.

      3.2. FINANCE CHARGES. In computing Finance Charges on the Obligations, all
Collections received by Bank shall be deemed applied by Bank on account of the
Obligations three (3) Business Days after receipt of the Collections. Borrower
will pay a finance charge (the "Finance Charge"), which is equal to the greater
of (i) the Applicable Rate multiplied by the number of days in the
Reconciliation Period multiplied by the outstanding average daily Financed
Receivable Balance for that Reconciliation Period, or (ii) the Minimum Finance
Charge, as and when same may be applicable. After an Event of Default,
Obligations accrue interest at five percent (5%) above the Applicable Rate
effective immediately before the Event of Default.

      3.3. FACILITY FEE. A fully earned, non-refundable facility fee of Forty
Thousand Dollars ($40,000.00) is due upon execution of this Agreement.

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      3.4. COLLATERAL HANDLING FEE. On each Reconciliation Day, Borrower will
pay to Bank a collateral handling fee, equal to 0.375% per month of the average
daily Financed Receivable Balance outstanding during the applicable
Reconciliation Period. After an Event of Default, the Collateral Handling Fee
will increase an additional 0.50% effective immediately before the Event of
Default.

      3.5. ACCOUNTING. After each Reconciliation Period, Bank will provide an
accounting of the transactions for that Reconciliation Period, including the
amount of all Financed Receivables, all Collections, Adjustments, Finance
Charges, Collateral Handling Fee and the Facility Fee. If Borrower does not
object to the accounting in writing within thirty (30) days it is considered
correct. All Finance Charges and other interest and fees are calculated on the
basis of a 360 day year and actual days elapsed.

      3.6. DEDUCTIONS. Bank may deduct fees, Finance Charges and other amounts
due pursuant to this Agreement from any Advances made or Collections received by
Bank.

      3.7. ACCOUNT COLLECTION SERVICES. All Borrower's receivables are to be
paid to the same address/or party and Borrower and Bank must agree on such
address. If Bank collects all receivables and there is not an Event of Default
or an event that with notice or lapse of time will be an Event of Default,
within three (3) days of receipt of those collections, Bank will give Borrower
the receivables collections it receives for receivables other than Financed
Receivables and/or amount in excess of the amount for which Bank has made an
Advance to Borrower, less any amount due to Bank, such as the Finance Charge,
the Facility Fee, other fees and expenses, or otherwise. This Section 3.7 does
not impose any affirmative duty on Bank to do any act other than to turn over
amounts. All receivables and collections are Collateral and if an Event of
Default occurs, Bank need not remit collections of Collateral and may apply them
to the Obligations.

      3.8. GOOD FAITH DEPOSIT. Borrower has paid to Bank a Good Faith Deposit of
$20,000.00 to initiate Bank's due diligence review process. Any portion of the
deposit not utilized to pay expenses will be applied to the Facility Fee.

4.    REPAYMENT OF OBLIGATIONS.

      4.1. REPAYMENT ON MATURITY. Borrower will repay each Advance on the
earliest of: (a) payment of the Financed Receivable in respect which the Advance
was made, (b) the Financed Receivable becomes an Ineligible Receivable, (c) when
any Adjustment is made to the Financed Receivable (but only to the extent of the
Adjustment if the Financed Receivable is not otherwise an Ineligible
Receivable), or (d) the last day of the Facility Period (including any early
termination). Each payment will also include all accrued Finance Charges on the
Advance and all other amounts due hereunder.

      4.2. REPAYMENT ON EVENT OF DEFAULT. Upon the occurrence of an Event of
Default which has not been cured (if such default is capable of being cured),
Borrower will, if Bank demands (or, in an Event of Default under Section 9(B),
immediately without notice or demand from Bank) repay all of the Advances. The
demand may, at Bank's option, include the Advance for each Financed Receivable
then outstanding and all accrued Finance Charges, the Early Termination Fee,
Collateral Handling Fee, attorneys and professional fees, court costs and
expenses, and any other Obligations.

      4.3. EARLY TERMINATION OF AGREEMENT. This Agreement may be terminated
prior to the last day of the Facility Period as follows: (i) by Borrower,
effective three (3) Business Days after written notice of termination is given
to Bank; or (ii) by Bank at any time after the occurrence of an Event of
Default, without notice, effective immediately. If this Agreement is terminated
by Borrower or by Bank, Borrower shall pay to Bank a termination fee in an
amount equal to Sixty Thousand Dollars ($60,000.00) (the "Early Termination
Fee"). The termination fee shall be due and payable on the effective date of
termination and thereafter shall bear interest at a rate equal to the highest
rate applicable to any of the Obligations. Notwithstanding the foregoing, Bank
agrees to waive the Early Termination Fee if Bank agrees to refinance the
Obligations (in its sole and exclusive discretion) prior to the last day of the
Facility Period.

5. POWER OF ATTORNEY. Borrower irrevocably appoints Bank and its successors and
assigns it attorney-in-fact and authorizes Bank to:

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                  (A) following the occurrence of an Event of Default which has
            not been cured, sell, assign, transfer, pledge, compromise, or
            discharge all or any part of the Financed Receivables:

                  (B) following the occurrence of an Event of Default which has
            not been cured, demand, collect, sue, and give releases to any
            Account Debtor for monies due and compromise, prosecute, or defend
            any action, claim, case or proceeding about the Financed
            Receivables, including filing a claim or voting a claim in any
            bankruptcy case in Bank's or Borrower's name, as Bank chooses:

                  (C) following the occurrence of an Event of Default which has
            not been cured, prepare, file and sign Borrower's name on any
            notice, claim, assignment, demand, draft, or notice of or
            satisfaction of lien or mechanics' lien or similar document;

                  (D) regardless of whether there has been an Event of Default,
            notify all Account Debtors to pay Bank directly;

                  (E) regardless of whether there has been an Event of Default,
            receive, open, and dispose of mail addressed to Borrower;

                  (F) regardless of whether there has been an Event of Default,
            endorse Borrower's name on check or other instruments (to the extent
            necessary to pay amounts owed pursuant to this Agreement); and

                  (G) regardless of whether there has been an Event of Default,
            execute on Borrower's behalf any instruments, documents, financing
            statements to perfect Bank's interests in the Financed Receivables
            and Collateral and do all acts and things necessary or expedient, as
            determined solely and exclusively by the Bank, to protect, preserve,
            and otherwise enforce the Bank's rights and remedies under this
            Agreement, as directed by the Bank.

6.    REPRESENTATIONS, WARRANTIES AND COVENANTS.

      6.1. REPRESENTATIONS AND WARRANTIES. Borrower represents and warrants for
each Financed Receivable:

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

                  (B) The correct amount is on the Invoice Transmittal and is
            not disputed;

                  (C) Payment is not contingent on any obligation or contract
            and it has fulfilled all its obligations as of the Invoice
            Transmittal date;

                  (D) It is based on an actual sale and delivery of goods and/or
            services rendered, due to Borrower, 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) There are no defenses, offsets, counterclaims or
            agreements for which the Account Debtor may claim any deduction or
            discount;

                  (F) Borrower reasonably believes no Account Debtor is
            insolvent or subject to any Insolvency Proceedings;

                  (G) Borrower has not filed or had filed against it Insolvency
            Proceedings and does not anticipate any filing;

                  (H) Bank has the right to endorse and/ or require Borrower to
            endorse all payments received on Financed Receivables and all
            proceeds of Collateral; and

                  (I) No representation, warranty or other statement of Borrower
            in any certificate or written

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            statement given to Bank contains any untrue statement of a material
            fact or omits to state a material fact necessary to make the
            statement contained in the certificates or statement not misleading.

6.2. ADDITIONAL REPRESENTATIONS AND WARRANTIES. Borrower represents and warrants
as follows:

                  (A) Borrower is duly existing and in good standing in its
            state of formation and qualified and licensed to do business in, and
            in good standing in, any state in which the conduct of its business
            or its ownership of property requires that it be qualified. The
            execution, delivery and performance of this Agreement has been duly
            authorized, and does not conflict with Borrower's organizational
            documents or constitute an Event of Default under any material
            agreement by which Borrower is bound. Borrower is not in default
            under any agreement to which or by which it is bound.

                  (B) Borrower has good title to the Collateral. All inventory
            is in all material respects of good and marketable quality, free
            from material defects.

                  (C) Other than as shown on Schedule 6.2(c), there are no
            actions or proceedings pending or, to Borrower's knowledge,
            threatened by or against Borrower or any Subsidiary.

                  (D) All consolidated financial statements for Borrower and any
            Subsidiary delivered to Bank fairly present in all material respects
            Borrower's consolidated financial condition and Borrower's
            consolidated results of operations. There has not been any material
            deterioration in Borrower's consolidated financial condition since
            the date of the most recent financial statements submitted to Bank.

                  (E) Borrower is able to pay its debts (including trade debts)
            as they mature.

                  (F) No representation, warranty or other statement of Borrower
            in any certificate or written statement given to Bank contains any
            untrue statement of a material fact or omits to state a material
            fact necessary to make the statements contained in the certificates
            or statements not misleading.

                  (G) Borrower is not an "investment company" or a company
            "controlled" by an "investment company" under the Investment Company
            Act. Borrower is not engaged as one of its important activities in
            extending credit for margin stock (under Regulations X, T and U of
            the Federal Reserve Board of Governors). Borrower has complied with
            the Federal Fair Labor Standards Act. Borrower has not violated any
            laws, ordinances or rules. None of Borrower's properties or assets
            has been used by Borrower, to the best of Borrower's knowledge, by
            previous persons, in disposing, producing, storing, treating, or
            transporting any hazardous substance other than legally. Borrower
            has timely filed all required tax returns and paid, or made adequate
            provision to pay, all taxes. Borrower has obtained all consents,
            approvals and authorizations of, made all declarations or filings
            with, and given all notices to, all government authorities that are
            necessary to continue its business as currently conducted.

6.3. AFFIRMATIVE COVENANTS. Borrower will do all of the following:

                  (A) Maintain its corporate existence and good standing in its
            jurisdictions of incorporation and maintain its qualification in
            each jurisdiction necessary to Borrower's business or operations.

                  (B) Pay all its taxes including gross payroll, withholding and
            sales taxes when due and will deliver satisfactory evidence of
            payment if requested.

                  (C) Provide a written report within sixty (60) days after the
            invoice date respecting any Financed Receivable (or as and when
            otherwise directed by the Bank), if payment of any Financed
            Receivable does not occur by its due date and include the reasons
            for the delay.

                  (D) Borrower shall deliver to Bank: (i) as soon as available,
            but no later than thirty(30) days

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            after the last day of each month, a company prepared consolidated
            balance sheet and income statement covering Borrower's consolidated
            operations during the period, in a form acceptable to Bank and
            certified Borrower; (ii) as soon as available, but no later than one
            hundred twenty (120) days after the end of Borrower's fiscal year,
            audited consolidated financial statements prepared under GAAP,
            consistently applied, together with an unqualified opinion an
            opinion which is unqualified or otherwise consented to by Bank on
            the financial statements from an independent certified public
            accounting firm acceptable to Bank; (iii) in the event that
            Borrower's stock becomes publicly held, within five (5) days of
            filing, copies of all statements, reports and notices made available
            to Borrower's security holders or to any holders of Subordinated
            Debt and all reports on Form 10-K, 10-Q and 8-K filed with the
            Securities and Exchange Commission; and (vi) budgets, sales
            projections, operating plans or other financial information Bank
            requests.

                  (E) Borrower shall keep its business and the Collateral
            insured for risks and in amounts, as Bank requests. Insurance
            policies shall be in a form, with companies, and in amounts that are
            reasonably satisfactory to Bank. All property policies shall have a
            lender's loss payable endorsement showing Bank as an additional loss
            payee and all liability policies shall show the Bank as an
            additional insured and all policies shall provide that the insurer
            must give Bank at least twenty (20) days notice before canceling its
            policy. At Bank's request, Borrower shall deliver certified copies
            of policies and evidence of all premium payments. Proceeds payable
            under any policy shall, at Bank's option, be payable to Bank on
            account of the Obligations.

                  (F) Execute any further instruments and take further action as
            Bank reasonably requests to perfect or continue Bank's security
            interest in the Collateral or to effect the purposes of this
            Agreement.

                  (G) Provide Bank with a Compliance Certificate no later than
            forty-five (45) days following each quarter end or as requested by
            Bank.

                  (H) Provide Bank with, as soon as available, but no later than
            thirty (30) days following each Reconciliation Period, a company
            prepared balance sheet and income statement, prepared under GAAP,
            consistently applied, covering Borrower's operations during the
            period together with an aged listing of accounts receivables and
            accounts payable, along with a deferred revenue report. All of the
            foregoing shall be in form and substance satisfactory to the Bank.

                  (I) Immediately notify, transfer and deliver to Bank all
            collections Borrower receives for Financed Receivables (and, as and
            when required hereunder, for all receivables).

                  (J) Borrower shall direct each Account Debtor (and each
            depository institution where proceeds of accounts receivable are on
            deposit) to make payments with respect to all receivables to a
            lockbox account established with the Bank ("Lockbox") or to wire
            transfer payments to a cash collateral account that Bank controls,
            as and when directed by the Bank from time to time, at its option
            and at the sole and exclusive discretion of the Bank. Until such
            Lockbox can be established, the Borrower shall remit all receivable
            cash payments and remittances to the Bank at least weekly (at the
            close of business on each Friday) along with a detailed cash
            receipts journal . It will be considered an immediate Event of
            Default if the Lockbox is not set-up and operational within 60 days
            from the date of this Agreement.

                  (K) Borrower will allow Bank to audit Borrower's Collateral,
            including, but not limited to, Borrower's Accounts and accounts
            receivable, at Borrower's expense, on a quarterly basis, upon
            reasonable notice. Provided, however, if an Event of Default has
            occurred, Bank may audit Borrower's Collateral, including, but not
            limited to, Borrower's Accounts and accounts receivable at Bank's
            sole and exclusive discretion and without notification and
            authorization from Borrower. Notwithstanding the foregoing, Bank
            will not make any Advances hereunder until it has conducted an
            initial audit of Borrower's Collateral and is satisfied with the
            results thereof.

                  (L) Maintain at all times after August 1, 2001 an Adjusted
            Quick Ratio of at least 1.25 to 1.0, which Adjusted Quick Ratio will
            be tested by Bank on a monthly basis.

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                  (M) Sustain EBITDA losses of not more than: (i) $400,000 for
            the month ending June 30, 2001, and (ii) $300,000 for the months
            ending July 31, 2001 and August 31, 2001. Borrower shall have EBITDA
            of not less than $1.00 for the month ending September 30, 2001 and
            each month thereafter.

                  (N) Maintain its primary operating and depository accounts
            with Bank. All necessary account transfers shall take place no later
            than 30 days from the date of this Agreement.

6.4. NEGATIVE COVENANTS. Borrower will not do any of the following without
Bank's prior written consent:

                  (A) Assign, transfer, sell or grant, or permit any lien or
            security interest in the Collateral, other than Permitted Liens.

                  (B) Convey, sell, lease, transfer or otherwise dispose of the
            Collateral other than the sale or license of Borrower's inventory in
            the ordinary course of business and the sale, transfer, or other
            disposal of obsolete Equipment.

                  (C) Create, incur, assume, or be liable for any Indebtedness,
            other than Permitted Indebtedness.

                  (D) Directly or indirectly enter into or permit to exist any
            material transaction with any affiliate or subsidiary of Borrower or
            make any distributions to any affiliate or subsidiary, except for
            (i) transactions that are in the ordinary course of Borrower's
            business, upon fair and reasonable terms that are no less favorable
            to Borrower than would be obtained in an arm's length transaction
            with a nonaffiliated person or (ii) the affliated transactions
            described on Schedule 6.4(D) hereto

                  (E) Merge or consolidate, or permit any of its Subsidiaries to
            merge or consolidate, with any other Person, or acquire, or permit
            any of its Subsidiaries to acquire, all or substantially all of the
            capital stock or property of another Person.

                  (F) Become an "investment company" or a company controlled by
            an "investment company," under the Investment Company Act of 1940 or
            undertake as one of its important activities extending credit to
            purchase or carry margin stock, or use the proceeds of any Advance
            for that purpose; fail to meet the minimum funding requirements of
            ERISA, permit a Reportable Event or Prohibited Transaction, as
            defined in ERISA, to occur; fail to comply with the Federal Fair
            Labor Standards Act or violate any other law or regulation, or
            permit any of its subsidiaries to do so.

                  (G) Borrower shall not, without at least thirty (30) days
            prior written notice to Bank: (i) relocate its chief executive
            office, or add any new offices or business locations, or (ii) change
            its jurisdiction of organization, or (iii) change its organizational
            structure or type, or (iv) change its legal name, or (v) change any
            organizational number (if any) assigned by its jurisdiction of
            organization.

                  (H) Keep any Collateral in the possession of any third party
            bailee (such as at a warehouse). In the event that Borrower, after
            the date hereof, intends to store or otherwise deliver any
            Collateral to such a bailee, then Borrower shall receive the prior
            written consent of Bank and such bailee must acknowledge in writing
            that the bailee is holding such Collateral for the benefit of Bank.

7. ADJUSTMENTS. If any Account Debtor asserts a discount, allowance, return,
offset, defense, warranty claim, or the like on a Financed Receivable (an
"Adjustment") or if Borrower breaches any of the representations, warranties or
covenants set forth in Section 6, Borrower will promptly advise Bank. Borrower
will resell any rejected, returned, or recovered personal property for Bank, at
Borrower's expense, and pay proceeds to Bank. While Borrower has returned goods
that are Borrower property, Borrower will segregate and mark them "Subject to

<PAGE>

a Security Interest on behalf of Silicon Valley Bank." Bank has a security
interest in the Financed Receivables and until receipt of payment, has the right
to take possession of any rejected, returned, or recovered personal property.

8. SECURITY INTEREST. Borrower grants Bank a continuing security interest in all
presently existing and later acquired Collateral to secure all Obligations and
performance of each of Borrower's duties under this Agreement. Any security
interest shall be a first priority security interest in the Collateral. Bank may
place a "hold" on any deposit account pledged as Collateral.

9. EVENTS OF DEFAULT. Any one or more of the following is an Event of Default.

                  (A) Borrower fails to pay any amount owed to Bank when due;

                  (B) Borrower files or has filed against it any Insolvency
            Proceedings or any assignment for the benefit of creditors, or
            appointment of a receiver or custodian for any of its assets;

                  (C) Borrower becomes insolvent or is generally not paying its
            debts as they become due;

                  (D) Any involuntary lien, garnishment, attachment attaches to
            the Financed Receivables or any Collateral or the service of process
            upon Bank seeking to attach, by mesne or trustee process any funds
            of Borrower on deposit with Bank;

                  (E) Borrower breaches any covenant, agreement, warranty, or
            representation set forth in this Agreement or any other agreement
            between Borrower and Bank is an immediate Event of Default;

                  (F) Borrower is in default, after the expiration of all
            applicable notice and cure periods, under any document, instrument
            or agreement evidencing any debt, obligation or liability in favor
            of Bank its affiliates or vendors regardless of whether the debt,
            obligation or liability is direct or indirect, primary or secondary,
            or fixed or contingent;

                  (G) An event of default occurs and continues after the
            expiration of all applicable notice and cure periods under any
            guaranty of the Obligations or any material provision of any
            guaranty is not valid or enforceable or a guaranty is repudiated or
            terminated;

                  (H) A material default or Event of Default occurs under any
            agreement between Borrower and any creditor of Borrower that signed
            a subordination agreement with Bank, insofar as Borrower has had
            opportunity to cure such default and has failed to do so;

                  (I) Any creditor that has signed a subordination agreement
            with Bank breaches any terms of the subordination agreement; or

                  (J) Any of the following occurs:(i) A material impairment in
            the perfection or priority of Bank's security interest in the
            Collateral or in the value of such Collateral; (ii) a material
            adverse change in the business, operations, or condition (financial
            or otherwise) of the Borrower occurs; or (iii) a material impairment
            of the prospect of repayment of any portion of the Obligations; or
            (iv) Bank determines, based upon information available to it and in
            its reasonable judgment, that there is a reasonable likelihood that
            Borrower shall fail to comply with one or more of the financial
            covenants in Section 6.3 during the next succeeding financial
            reporting period.

10. REMEDIES.

      10.1. REMEDIES UPON DEFAULT. When an Event of Default occurs and for so
long as such Event of Default has not been cured, (1) Bank may stop financing
receivables or extending credit to Borrower; (2) at Bank's option and on demand,
all or a portion of the Obligations (or, for to an Event of Default described in
Section 9(B), automatically and without demand) are due and payable in full; (3)
the Bank may apply to the Obligations any (i) balances and deposits of Borrower
it holds, or (ii) any amount held by Bank owing to or for the credit or the
account of Borrower; (4) Bank may exercise all rights and remedies under this
Agreement and applicable law, including those of a secured party under the Code,
power of attorney rights in Section 5 for the Collateral, and the

<PAGE>

right to ship, reclaim, recover, store, finish, maintain, repair, prepare for
sale, advertise for sale, collect, dispose of, sell, lease, use, and realize
upon all Financed Receivables and Collateral in any commercial manner; and (5)
Bank may make any payments and do any acts that are reasonably necessary to
protect its security interest in the Collateral. Borrower shall assemble the
Collateral if Bank requests and make it available as Bank designates. Bank may
enter premises where the Collateral is located, take and maintain possession of
any part of the Collateral, and pay, purchase, contest, or compromise any lien
which appears to be prior or superior to its security interest and pay all
expenses incurred. Borrower grants Bank a license to enter and occupy any of its
premises, without charge, to exercise any of Bank's rights or remedies. Borrower
agrees that any notice of sale required to be given to Borrower is deemed given
if at least five (5) days before the sale may be held.

      10.2. DEMAND WAIVER. Borrower waives demand, notice of default or
dishonor, notice of payment and nonpayment, notice of any default, nonpayment at
maturity, release, compromise, settlement, extension, or renewal of accounts,
documents, instruments, chattel paper, and guaranties held by Bank on which
Borrower is liable.

      10.3. DEFAULT RATE. If any amount is not paid when due, the amount bears
interest at the Applicable Rate plus five percent until the earlier of (a)
payment in good funds or (b) entry of a final judgment when the principal amount
of any money judgment will accrue interest at the highest rate allowed by law.

11. FEES, COSTS AND EXPENSES. The Borrower will pay on demand all fees, costs
and expenses (including attorneys' and professionals fees with costs and
expenses) that Bank incurs from: (a) preparing, negotiating, administering, and
enforcing this Agreement or related agreement, including any amendments, waivers
or consents, (b) any litigation or dispute relating to the Financed Receivables,
the Collateral, this Agreement or any other agreement, (c) enforcing any rights
against Borrower or any guarantor, or any Account Debtor, (d) protecting or
enforcing its interest in the Financed Receivables or other Collateral, (e)
collecting the Financed Receivables and the Obligations, and (f) any bankruptcy
case or insolvency proceeding involving Borrower, any Financed Receivable, the
Collateral, any Account Debtor.

12. CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER. This Agreement shall be
construed, governed, and enforced pursuant to the laws (without regard to
conflict of law principles) of The Commonwealth of Massachusetts. Borrower and
Bank each submits to the exclusive jurisdiction of the State and Federal courts
in Suffolk County, Massachusetts.

      BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR ANY CONTEMPLATED
TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS
WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT.
EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

13. 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 listed at the beginning of this Agreement. A party may change notice
address by written notice to the other party.

14. GENERAL PROVISIONS.

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

      14.2. INDEMNIFICATION. Borrower will indemnify, defend and hold harmless
Bank 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 Bank from or consequential to transactions between Bank and
Borrower (including reasonable attorneys fees and expenses), except for losses
caused by Bank's gross negligence or willful misconduct.

<PAGE>

      14.3. RIGHT OF SET-OFF. Borrower and any guarantor hereby grant to Bank, a
lien, security interest and right of setoff as security for all Obligations to
Bank, whether now existing or hereafter arising upon and against all deposits,
credits, collateral and property, now or hereafter in the possession, custody,
safekeeping or control of Bank or any entity under the control of Silicon Valley
Bank or in transit to any of them. At any time after the occurrence and during
the continuance of an Event of Default, without demand or notice, Bank may set
off the same or any part thereof and apply the same to any liability or
obligation of Borrower and any guarantor even though unmatured and regardless of
the adequacy of any other collateral securing the loan. ANY AND ALL RIGHTS TO
REQUIRE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER
COLLATERAL WHICH SECURES THE LOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH
RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY
GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

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

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

      14.6. 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.

      14.7. 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.

      14.8. REMEDIES CUMULATIVE. Bank's rights and remedies under this
Agreement, or any other documents, instruments and agreement by and between
Borrower and Bank are cumulative. Bank has all rights and remedies provided
under the Code, by law, or in equity. Bank's exercise of one right or remedy is
not an election, and Bank's waiver of any Event of Default is not a continuing
waiver. Bank's delay is not a waiver, election, or acquiescence. No waiver
hereunder shall be effective unless signed by Bank and then is only effective
for the specific instance and purpose for which it was given.

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

      14.10. CONFIDENTIALITY. Bank will use the same degree of care handling
Borrower's confidential information that it uses for its own confidential
information, but may disclose information; (i) to its subsidiaries or affiliates
in connection with their business with Borrower, (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 Bank's possession when disclosed, or
becomes part of the public domain after disclosure to Bank; or (b) disclosed to
Bank by a third party, if Bank does not know that the third party is prohibited
from disclosing the information.

      14.11. OTHER AGREEMENTS. This Agreement may not adversely affect Banks
rights under any other document or agreement. If there is a conflict between
this Agreement and any agreement between Borrower and Bank, Bank may determine
in its sole discretion which provision applies. Borrower acknowledges that any
security agreements, liens and/or security interests securing payment of
Borrower's Obligations also secure Borrower's Obligations under this Agreement
and are not adversely affected by this Agreement. Additionally, (a) any
Collateral under other agreements or documents between Borrower and Bank secures
Borrowers Obligations under this Agreement and (b) a default by Borrower under
this Agreement is a default under agreements between Borrower and Bank.

<PAGE>

      EXECUTED under seal as of the date first written above.

GREENFIELD ONLINE, INC.

By ___________________________________

Title ________________________________

SILICON VALLEY BANK

By____________________________________

Title ________________________________

<PAGE>

                                    EXHIBIT A

      The Collateral consists of all of Borrower's right, title and interest in
and to the following:

            All goods, equipment, inventory, contract rights or rights to
payment of money, leases, license agreements, franchise agreements, general
intangibles (including payment intangibles), accounts (including health-care
receivables), documents, instruments (including any promissory notes), chattel
paper (whether tangible or electronic), cash, deposit accounts, fixtures,
letters of credit rights (whether or not the letter of credit is evidenced by a
writing), commercial tort claims, securities, and all other investment property
supporting obligations, and financial assets, whether now owned or hereafter
acquired, wherever located; and

            Any copyright rights, copyright applications, copyright
registrations and like protections in each work of authorship and derivative
work, whether published or unpublished, now owned or later acquired; any
patents, trademarks, service marks and applications therefor; trade styles,
trade names, any trade secret rights, including any rights to unpatented
inventions, know-how, operating manuals, license rights and agreements and
confidential information, now owned or hereafter acquired; or any claims for
damages by way of any past, present and future infringement of any of the
foregoing; and

            All Borrower's Books relating to the foregoing and any and all
claims, rights and interests in any of the above and all substitutions for,
additions, attachments, accessories, accessions and improvements to and
replacements, products, proceeds and insurance proceeds of any or all of the
foregoing.
<PAGE>
                                   EXHIBIT "B"

                           (SILICON VALLEY BANK LOGO)
                               SILICON VALLEY BANK
                           SPECIALTY FINANCE DIVISION

1.    Compliance Certificate

I, as authorized officer of Greenfield Online, Inc. ("Borrower") certify under
the Accounts Receivable Financing Agreement (the "Agreement") between Borrower
and Silicon Valley Bank ("Bank") as follows.

BORROWER REPRESENTS AND WARRANTS FOR EACH FINANCED RECEIVABLE:

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

      The correct amount is on the Invoice Transmittal and is not disputed;

      Payment is not contingent on any obligation or contract and it has
fulfilled all its obligations as of the Invoice Transmittal date;

      It is based on an actual sale and delivery of goods and/or services
rendered, due to Borrower, 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;

      There are no defenses, offsets, counterclaims or agreements for which the
Account Debtor may claim any deduction or discount;

      It reasonably believes no Account Debtor is insolvent or subject to any
Insolvency Proceedings;

      It has not filed or had filed against it proceedings and does not
anticipate any filing;

      Bank has the right to endorse and/ or require Borrower to endorse all
payments received on Financed Receivables and all proceeds of Collateral.

      No representation, warranty or other statement of Borrower in any
certificate or written statement given to Bank contains any untrue statement of
a material fact or omits to state a material fact necessary to make the
statement contained in the certificates or statement not misleading.

      ADDITIONALLY, BORROWER REPRESENTS AND WARRANTS AS FOLLOWS:

      Borrower is duly existing and in good standing in its state of formation
and qualified and licensed to do business in, and in good standing in, any state
in which the conduct of its business or its ownership of property requires that
it be qualified. The execution, delivery and performance of this Agreement has
been duly authorized, and do not conflict with Borrower's formations documents,
nor constitute an Event of Default under any material agreement by which
Borrower is bound. Borrower is not in default under any agreement to which or by
which it is bound.

      Borrower has good title to the Collateral. All inventory is in all
material respects of good and marketable quality, free from material defects.

      Borrower is not an "investment company" or a company "controlled" by an
"investment company"
<PAGE>
under the Investment Company Act. Borrower is not engaged as one of its
important activities in extending credit for margin stock (under Regulations X,
T and U of the Federal Reserve Board of Governors). Borrower has complied with
the Federal Fair Labor Standards Act. Borrower has not violated any laws,
ordinances or rules. None of Borrower's properties or assets has been used by
Borrower, to the best of Borrower's knowledge, by previous persons, in
disposing, producing, storing, treating, or transporting any hazardous substance
other than legally. Borrower has timely filed all required tax returns and paid,
or made adequate provision to pay, all taxes. Borrower has obtained all
consents, approvals and authorizations of, made all declarations or filings
with, and given all notices to, all government authorities that are necessary to
continue its business as currently conducted.

      All representations and warranties in the Agreement are true and correct
in all material respects on this date.

Sincerely,

SIGNATURE

TITLE

DATE
<PAGE>
                       Schedule of Permitted Indebtedness

                                     (none)

<PAGE>

                           Schedule of Permitted Liens

(See Equipment Schedules No. 39 and No. 44 to the Lease Agreement dated
September 15, 1999 between Somerset Capital Group, Ltd. and Greenfield Online,
Inc.)

<PAGE>
                                 Schedule 6.2(c)

      On September 29, 2000, Greenfield Online entered into a license with Onyx
Software (the "Onyx License") to license CRM software with license and
maintenance fees of $394,836.75. The Company has determined that the Onyx
Software does not contain the functionality represented and has requested via
letter dated January 15, 2001, that Onyx agree to a rescission of the Onyx
License. By letter dated January 9, 2001, (received by the Company on January
16, 2001) Onyx made demand for the payment of the Onyx License in full on or
before February 9, 2001, or it will "pursue all remedies afforded to it under
law". On June 8, 2001, Onyx served the Company with a complaint in the Superior
Court of Washington for Kings County alleging breach of contract and unjust
enrichment and demanded recovery of $439,206.41 for products and professional
services rendered. The Company believes it has meritorious defenses to this
action and has filed an Answer with Special Defenses as well as a Counterclaim

      On August 28, 2000, NPD Group, Inc., notified Greenfield Online, Inc.,
that it believed that Greenfield Online had violated its patent number
6,070,145, issued to NPD on May 30, 2000. NPD claims that the patent covers the
solicitation of persons over the Internet to take surveys via a pop-up window.
Although a license agreement has been proposed by NPD, Greenfield Online
maintains the position that the patent is unenforceable and continues to
investigate prior art.

By Complaint dated August 6, 1999 and Amended on September 23, 1999, and filed
in the U.S. District Court for the Western district of New York, Harris
Interactive, Inc., filed a 5 count complaint against Greenfield Online, Inc. The
Amended Complaint seeks to have Greenfield Online, Inc.'s Service Mark "Research
Revolution" cancelled and seeks a declaratory judgment that Harris Interactive
is not infringing the mark (Count One), seeks monetary damages for alleged
defamatory statements made by an officer of Greenfield Online concerning Harris
Interactive's business practices (Count Two), seeks monetary damages for
allegedly disparaging remarks made by a Greenfield Online Officer concerning
Harris Interactive's business practices (Count Three), seeks monetary damages
for Greenfield Online's allegedly intentional interference with contractual
relationships (Count Four) and seeks monetary damages for Greenfield Online's
allegedly unfair competition. The parties are in the process of substantive
settlement negotiations, and have exchanged draft settlement agreements. No
anticipated settlement will result in any monetary payment from Borrower. On
December 7, 2000, the District Court, acting on its own motion, dismissed the
case without prejudice.

      On June 19, 2001 the Company was notified by counsel for a former
employee, Eric Stabell, that Mr. Stabell intended to assert claims against the
Company for his alleged "constructive discharge" due to the Company's failure to
make reasonable accommodations for disabilities suffered by Mr. Stabell. The
Company is alleged to have violated Connecticut General Statute 46a-60 and the
American's With Disabilities Act. The Company believes that these claims are
without merit and has replied to Mr. Stabell's attorney denying each and every
claim.
<PAGE>
      On June 21, 2001 the Company was notified by counsel for a former
employee, Mark Hardy, that Mr. Hardy intends to pursue claims in the California
courts for damages allegedly suffered by Mr. Hardy in connection with his
termination from employment. Mr. Hardy alleges that (i) he was induced to incur
relocation expenses to initiate a move of his personal residence from California
to Connecticut, and that the Company promised to compensate Mr. Hardy for these
expenses, (ii) that he was not paid accrued vacation pay in violation of
California law, (iii) that his wife, relying on his continued employment with
the Company reduced her work hours to prepare for the move and start a family
resulting in lost family income. Mr. Hardy claims a cash payment of $32,000 plus
6 months salary and an extension of the time in which he may exercise his vested
Company stock options. The Company has yet to form an opinion regarding the
validity of such claims.

      On July 17, 2001 the Company was contacted by the law firm of Bressler,
Amery & Ross on behalf of Ruder Fin, Inc., a public relations firm which the
Company had engaged to render public relations services in 2000. Ruder Fin
claims an outstanding balance due of $25,000 as a monthly retainer due under a
written contract for the month of January, 2001, as well as $6,024 in expenses.
The Company disputes the claim on the basis that Ruder Fin and the Company
agreed that when the Company terminated Ruder Fin's engagement, Ruder Fin agreed
that the Company would be released from its obligations under the contract if it
paid its $25,000 retainer fee for the months of November and December of 2000.
The Company paid these amounts. The Company disputes the expenses claimed on the
basis that some were not pre-approved and that others were for ineffective
services. The Company has paid $2,855.65 of expenses it deems to be valid.

      On July 13, 2001, the Company received a claim from Neopets.com, Inc.,
("Neopets"), that it was owed $25,000 as a fee for recruiting individuals to
become panelists in the Greenfield Online panel. It is the Company's position
that it does not owe Neopets any fees for the recruiting it did between 1/1/01
and 3/21/01, due to the fact that the vast majority of the recruits it received
from Neopets were received on March 17, 2001 and were the creation of a hacker.
The remaining recruits are also invalid as they have not activated their
accounts.

      In May, 1998, Cybergold notified Greenfield Online that it believed that
Greenfield Online had violated its patent number 5,749,210, issued to Cybergold
for negatively induced solicitations, claiming that this patent covered paying
people to participate in surveys online. Although Cybergold proposed a license
agreement, Greenfield Online took the position that it did not infringe this
patent, and took no further action with respect to Cybergold. Since March of
1999 there has been no contact between Cybergold and Greenfield Online.
<PAGE>
                                 SCHEDULE 6.4(D)

                             AFFILIATED TRANSACTIONS

MANAGEMENT BUYOUT AND LEVERAGED RECAPITALIZATION TRANSACTION

On May 17, 1999, our management team and a group of new investors executed a
management buyout of our company in which approximately 97% of our outstanding
common stock at the time was acquired by Greenfield Holdings, a company formed
specifically to execute the management buyout, and other investors. The
transaction involved a series of agreements:

-    Stock Purchase, Sale and Redemption Agreement. Under this agreement,
     Greenfield Holdings purchased securities for a purchase price of
     $8,863,548, which, adjusted for stock splits and reflecting the conversion
     to common, gave them 21,855,150 shares of our common stock.

-    Promissory Note. Under this note, Greenfield Holdings loaned us $14,136,452
     that we used in part to redeem 94.5% of outstanding stock then owned by one
     of our founders, Andrew Greenfield. This note is still outstanding as of
     July 31, 2001, and is due on the earlier of its stated Maturity of May 17,
     2009 or the occurrence of certain mandatory prepayment events as stated in
     the note.

-    Stock Purchase, Consent and Waiver Agreement. We used a portion of the
     proceeds of the loan granted to us by Greenfield Holdings to loan Mr.
     Nadilo, our Chairman, President and Chief Executive Officer, and Mr. Davis,
     our Chief Technology Officer, $425,075 and $75,013, respectively, to allow
     them to purchase Mr. Greenfield's remaining shares of common stock.
     Adjusted for stock splits and reflecting the conversion to common, the
     purchase gave them 1,048,050 and 184,950 shares, respectively, of our
     common stock as of March 3, 2000. We have the right to repurchase this
     stock for its original purchase price from either one of Mr. Nadilo or Mr.
     Davis if his employment terminates for any reason. The restrictions on the
     stock lapse and the stock becomes vested 25% one year after the management
     buyout and 12.5% each six-month period thereafter until four years have
     expired. For Mr. Davis, the expiration of these restrictions will
     accelerate on 50% of his stock if we sell the stock or all or substantially
     all of the assets of our company. The stock purchased by Messrs. Nadilo and
     Davis is pledged to us to secure the repayment of their loans.

-    Amendment to Davis and Nadilo Promissory Note / Stock Redemption. In March
     of 2000, the Company and Messrs. Nadilo and Davis agreed to convert the
     promissory notes described above from non-recourse notes to recourse notes.
     Simultaneously with the closing of the Silicon Valley Facility, the Company
     intends to convert both such notes back from recourse notes into
     non-recourse notes. On April 30, 2001, Rudy Nadilo resigned his position of
     Chairman, president and CEO of Greenfield Online, Inc., and agreed to
     transfer and convey all of the shares of the
<PAGE>
     Company's stock held by him in consideration for the Company's forgiveness
     of the debt evidenced by the note. The Company intends to redeem Mr.
     Nadilo's stock via the forgiveness of this debt immediately following the
     closing of the Silicon Valley Bank Facility and the amendment of Mr.
     Nadilo's note.

NEW OFFICER LOANS

     In March of 2001, the Company advanced additional loans to Mr. Davis in an
     amount up to $56,285. The proceeds of this loan were to be used by Mr.
     Davis solely to purchase member units of Greenfield Holdings, LLC. The
     proceeds of the sale of member units by Greenfield Holdings, LLC (including
     the proceeds from the sale of the member units to Mr. Davis) were used to
     purchase Greenfield Holding's pro-rata portion of the Company's Series A
     Preferred Stock offering. As security for the repayment of the loans, Mr.
     Davis will pledge the member units purchased with the loan proceeds.

AGREEMENTS WITH ANDREW GREENFIELD AND AFFILIATED ENTITIES

We are party to a number of agreements with Andrew Greenfield, a founder of our
company, and with Greenfield Consulting Group, Digital Idea, Inc. and Strategic
Focus, Inc., all entities controlled by Mr. Greenfield. The agreements are:

-    Forfeiture Agreement. Under this agreement, made as part of our Stock
     Purchase, Sale and Redemption Agreement with Greenfield Holdings when we
     redeemed 94.5% of Mr. Greenfield's stock, he agreed that if Greenfield
     Consulting Group did not refer a minimum of $2,500,000 of online research
     business to us by May 17, 2001, he would be subject to forfeiting up to
     493,200 shares of common stock determined on a sliding scale based on the
     actual business referred.

-    Non-competition Agreement. Under this agreement, made as part of our Stock
     Purchase, Sale and Redemption Agreement with Greenfield Holdings, Mr.
     Greenfield agreed that, until March 17, 2002, he will not be employed by,
     own an interest in, or finance any company that provides quantitative or
     qualitative research over the Internet. Mr. Greenfield was granted the
     individual right to conduct qualitative marketing research over the
     Internet as long as he used our services exclusively, provided our services
     were available on fair and reasonable terms as measured by industry custom.

-    Greenfield Consulting Group Agreement. In December 1999, we entered into a
     two-year agreement in which Digital Idea agreed to purchase, at reduced
     rates, qualitative and quantitative market research data from us. Under
     this agreement, we agreed not to enter into any exclusive provider
     arrangement with any other Internet-focused strategic consulting services
     company in the marketing services category.
<PAGE>
STOCK OPTION GRANT TO DIRECTOR

On September 17, 1999, as compensation for a speaking engagement, we granted to
Mr. Manning, one of our directors, an option to purchase 10,500 shares of our
common stock at $0.51 per share. These options vested immediately upon issuance
and have been exercised.

NOTE AND WARRANT PURCHASE AGREEMENT WITH GREENFIELD HOLDINGS

On March 3, 2000, we entered into a Note and Warrant Purchase Agreement with
Greenfield Holdings, our largest shareholder. Greenfield Holdings agreed to loan
us up to $5 million at an interest rate of 10% per year for working capital
purposes. This loan matured on August 23, 2000 and was retired by conversion
into Class B Stock of the Company.

NOTE PURCHASE AGREEMENTS WITH AFFILIATED ENTITIES

On January 18, 2001 the Company entered into a Note Purchase Agreement with the
Purchasers listed therein to sell up to $1,500,000 of the Company's 10%
Convertible Notes. These Notes were amended by Amendment No. 1 dated February 1,
2001 to extend their maturity dates. The Purchasers are affiliated entities

On February 7, 2001 the Company entered into a Note Purchase Agreement with the
Purchasers listed therein to sell up to $1,500,000 of the Company's 10%
Convertible Notes. The Purchasers are affiliated entities

On June 28, 2001 the Company entered into a Note Purchase Agreement with the
Purchasers listed therein to sell up to $2,500,000 of the Company's June 2001
10% Notes. These Notes were amended by Amendment No. 1 dated September 17, 2001
to add an optional conversion feature and a provisional extension of their
maturity dates. The Purchasers are affiliated entities.

On September 17, 2001 the Company entered into a Note Purchase Agreement with
the Purchasers listed therein to sell up to $2,500,000 of the Company's
September 2001 10% Notes. These Notes contain and optional conversion feature as
well as provisional extension of their maturity dates. The Purchasers are
affiliated entities.

SALE OF SERIES A PREFERRED STOCK

On March 1, 2001 the Company entered into a Series A Preferred Stock Purchase
Agreement and related agreements for the sale of up to $12,000,000 of the
Company's Series A Preferred Stock. The Company's 10% Convertible Notes issued
in January and February of 2001 were used as partial consideration. Some of the
Investors under the Purchase Agreement were affiliated entities.

<PAGE>
                        FIRST LOAN MODIFICATION AGREEMENT

      This First Loan Modification Agreement (this "Loan Modification
Agreement") is entered into as of September 24, 2001, by and between SILICON
VALLEY BANK, a California-chartered bank, with its principal place of business
at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan production
office located at One Newton Executive Park, Suite 200, 2221 Washington Street,
Newton, Massachusetts 02462, doing business under the name "Silicon Valley East"
("Bank") and GREENFIELD ONLINE, INC., a Delaware corporation with its principal
place of business at 21 River Road, Wilton, Connecticut 06897 ("Borrower").

1. DESCRIPTION OF EXISTING INDEBTEDNESS. Among other obligations and
indebtedness which may be owing by Borrower to Bank, Borrower is indebted to
Bank pursuant to a loan arrangement dated as of August 9, 2001, evidenced by,
among other documents, a certain Accounts Receivable Financing Agreement dated
as of August 9, 2001 (as amended, the "Loan Agreement"). Capitalized terms used
but not otherwise defined herein shall have the same meaning as in the Loan
Agreement.

Hereinafter, all indebtedness owing by Borrower to Bank shall be referred to as
the "Obligations".

2. DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by the
Collateral as described in the Loan Agreement and a certain Intellectual
Property Security Agreement dated August 9, 2001 (the "IP Agreement") (the
"Security Documents").

Hereinafter, the Security Documents, together with all other documents
evidencing or securing the Obligations shall be referred to as the "Existing
Loan Documents".

3. DESCRIPTION OF CHANGE IN TERMS.

            Modifications to Loan Agreement.

The Loan Agreement shall be amended by deleting the following definition
appearing in Section 1 thereof:

                  ""FACILITY AMOUNT" is Four Million Dollars ($4,000,000.00)."

            and inserting in lieu thereof the following:

                  ""FACILITY AMOUNT" is (i) prior to the occurrence of an Audit
                  Event, One Million Eight Hundred Seventy-Five Thousand Dollars
                  ($1,875,000.00) or (ii) after the occurrence of an Audit
                  Event, Four Million Dollars ($4,000,000.00)."

The Loan Agreement shall be amended by adding the following definition
alphabetically in Section 1 thereof:

                  ""AUDIT EVENT" is the receipt by Bank of an audit of
                  Borrower's Collateral satisfactory to Bank (in its sole
                  discretion) in all respects."

The Loan Agreement shall be amended by deleting Section 6.3 (L) and (M) thereof
and inserting in lieu thereof the following:

            "(L)  INTENTIONALLY OMITTED.
<PAGE>
            (M)   Borrower shall have EBITDA of not less than $1.00 for the
                  month ending September 30, 2001 and each month thereafter.
                  Notwithstanding the foregoing, Borrower may have one (1) month
                  thereafter of EBITDA losses not to exceed $50,000.00."

4. COLLATERAL AUDIT. Borrower acknowledges and agrees that in accordance with
Bank's right to audit Borrower's Collateral as set forth in Section 6.3(K) of
the Loan Agreement, Borrower will provide Bank access to its financial records
so that Bank may audit Borrower's Collateral on or before December 1, 2001.

5. FEES. Borrower shall reimburse Bank for all legal fees and expenses incurred
in connection with this amendment to the Existing Loan Documents.

6. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever
necessary to reflect the changes described above.

7. RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and
reaffirms all terms and conditions of all security or other collateral granted
to the Bank, and confirms that the indebtedness secured thereby includes,
without limitation, the Obligations.

8. NO DEFENSES OF BORROWER. Borrower agrees that, as of this date, it has no
defenses against the obligations to pay any amounts under the Obligations.

9. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the
existing Obligations, Bank is relying upon Borrower's representations,
warranties, and agreements, as set forth in the Existing Loan Documents. Except
as expressly modified pursuant to this Loan Modification Agreement, the terms of
the Existing Loan Documents remain unchanged and in full force and effect.
Bank's agreement to modifications to the existing Obligations pursuant to this
Loan Modification Agreement in no way shall obligate Bank to make any future
modifications to the Obligations. Nothing in this Loan Modification Agreement
shall constitute a satisfaction of the Obligations. It is the intention of Bank
and Borrower to retain as liable parties all makers of Existing Loan Documents,
unless the party is expressly released by Bank in writing. No maker will be
released by virtue of this Loan Modification Agreement.

10. JURISDICTION/VENUE. Borrower accepts for itself and in connection with its
properties, unconditionally, the non-exclusive jurisdiction of any state or
federal court of competent jurisdiction in the Commonwealth of Massachusetts in
any action, suit, or proceeding of any kind against it which arises out of or by
reason of this Loan Modification Agreement; provided, however, that if for any
reason Bank cannot avail itself of the courts of the Commonwealth of
Massachusetts, then venue shall lie in Santa Clara County, California.
NOTWITHSTANDING THE FOREGOING, THE BANK SHALL HAVE THE RIGHT TO BRING ANY ACTION
OR PROCEEDING AGAINST THE BORROWER OR ITS PROPERTY IN THE COURTS OF ANY OTHER
JURISDICTION WHICH THE BANK DEEMS NECESSARY OR APPROPRIATE IN ORDER TO REALIZE
ON THE COLLATERAL OR TO OTHERWISE ENFORCE THE BANK'S RIGHTS AGAINST THE BORROWER
OR ITS PROPERTY.

11. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective
only when it shall have been executed by Borrower and Bank (provided, however,
in no event shall this Loan Modification Agreement become effective until signed
by an officer of Bank in California).

            [The remainder of this page is intentionally left blank]
<PAGE>
      This Loan Modification Agreement is executed as a sealed instrument under
the laws of the Commonwealth of Massachusetts as of the date first written
above.

GREENFIELD ONLINE, INC.                      SILICON VALLEY BANK

By:                                          By:
   ------------------------------------         --------------------------------

Name:  Jonathan A. Flatow                    Name:
     ----------------------------------           ------------------------------

Title:  Secretary                            Title:
      ---------------------------------            -----------------------------

<PAGE>

                       SECOND LOAN MODIFICATION AGREEMENT

      This Second Loan Modification Agreement (this "Loan Modification
Agreement") is entered into as of September 24, 2001, by and between SILICON
VALLEY BANK, a California-chartered bank, with its principal place of business
at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan production
office located at One Newton Executive Park, Suite 200, 2221 Washington Street,
Newton, Massachusetts 02462, doing business under the name "Silicon Valley East"
("Bank") and GREENFIELD ONLINE, INC., a Delaware corporation with its principal
place of business at 21 River Road, Wilton, Connecticut 06897 ("Borrower").

1. DESCRIPTION OF EXISTING INDEBTEDNESS. Among other obligations and
indebtedness which may be owing by Borrower to Bank, Borrower is indebted to
Bank pursuant to a loan arrangement dated as of August 9, 2001, evidenced by,
among other documents, a certain Accounts Receivable Financing Agreement dated
as of August 9, 2001 (as amended, the "Loan Agreement"). Capitalized terms used
but not otherwise defined herein shall have the same meaning as in the Loan
Agreement.

Hereinafter, all indebtedness owing by Borrower to Bank shall be referred to as
the "Obligations".

2. DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by the
Collateral as described in the Loan Agreement and a certain Intellectual
Property Security Agreement dated August 9, 2001 (the "IP Agreement") (the
"Security Documents").

Hereinafter, the Security Documents, together with all other documents
evidencing or securing the Obligations shall be referred to as the "Existing
Loan Documents".

3. DESCRIPTION OF CHANGE IN TERMS.

      Modifications to Loan Agreement.

            The Loan Agreement shall be amended by adding the following
                  definitions alphabetically in Section 1 thereof:

                        ""CONTINGENT GUARANTEE" is a guarantee of all
                        Obligations to the Bank remaining due under the Facility
                        after Bank has exercised all of its rights in and
                        recourse to the Collateral."

                        ""INVESTORS" are all holders of the June 2001 10% Notes
                        and the September 2001 10% Notes and their respective
                        subsidiaries and affiliates."

                        ""JUNE 2001 10% NOTES" are those certain promissory
                        notes issued pursuant to a Note Purchase Agreement dated
                        June 28, 2001 between the Company and the Purchasers
                        listed therein.)."

                        ""SEPTEMBER 2001 10% NOTES" are those certain promissory
                        notes issued pursuant to a Note Purchase Agreement dated
                        September 18, 2001 between the Company and the
                        Purchasers listed therein."

            The Loan Agreement shall be amended by adding Section 9 (K):

                        "(K) The Borrower fails to deliver a Contingent
                        Guarantee in such form and content, and executed by such
                        Investors, as may be satisfactory to the Bank on or
                        before November 1, 2001."

<PAGE>

4. FEES. Borrower shall reimburse Bank for all legal fees and expenses incurred
in connection with this amendment to the Existing Loan Documents.

5. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever
necessary to reflect the changes described above.

6. RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and
reaffirms all terms and conditions of all security or other collateral granted
to the Bank, and confirms that the indebtedness secured thereby includes,
without limitation, the Obligations.

7. NO DEFENSES OF BORROWER. Borrower agrees that, as of this date, it has no
defenses against the obligations to pay any amounts under the Obligations.

8. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the
existing Obligations, Bank is relying upon Borrower's representations,
warranties, and agreements, as set forth in the Existing Loan Documents. Except
as expressly modified pursuant to this Loan Modification Agreement, the terms of
the Existing Loan Documents remain unchanged and in full force and effect.
Bank's agreement to modifications to the existing Obligations pursuant to this
Loan Modification Agreement in no way shall obligate Bank to make any future
modifications to the Obligations. Nothing in this Loan Modification Agreement
shall constitute a satisfaction of the Obligations. It is the intention of Bank
and Borrower to retain as liable parties all makers of Existing Loan Documents,
unless the party is expressly released by Bank in writing. No maker will be
released by virtue of this Loan Modification Agreement.

9. JURISDICTION/VENUE. Borrower accepts for itself and in connection with its
properties, unconditionally, the non-exclusive jurisdiction of any state or
federal court of competent jurisdiction in the Commonwealth of Massachusetts in
any action, suit, or proceeding of any kind against it which arises out of or by
reason of this Loan Modification Agreement; provided, however, that if for any
reason Bank cannot avail itself of the courts of the Commonwealth of
Massachusetts, then venue shall lie in Santa Clara County, California.
NOTWITHSTANDING THE FOREGOING, THE BANK SHALL HAVE THE RIGHT TO BRING ANY ACTION
OR PROCEEDING AGAINST THE BORROWER OR ITS PROPERTY IN THE COURTS OF ANY OTHER
JURISDICTION WHICH THE BANK DEEMS NECESSARY OR APPROPRIATE IN ORDER TO REALIZE
ON THE COLLATERAL OR TO OTHERWISE ENFORCE THE BANK'S RIGHTS AGAINST THE BORROWER
OR ITS PROPERTY.

10. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective
only when it shall have been executed by Borrower and Bank (provided, however,
in no event shall this Loan Modification Agreement become effective until signed
by an officer of Bank in California).

            [The remainder of this page is intentionally left blank]

<PAGE>

         This Loan Modification Agreement is executed as a sealed instrument
under the laws of the Commonwealth of Massachusetts as of the date first written
above.

GREENFIELD ONLINE, INC.                  SILICON VALLEY BANK

By:___________________________________   By:____________________________________

Name:__Jonathan A. Flatow_____________   Name:__________________________________

Title:___Secretary____________________   Title:_________________________________

<PAGE>

                        THIRD LOAN MODIFICATION AGREEMENT

      This Third Loan Modification Agreement (this "Loan Modification
Agreement") is entered into as of ___________, 2002, by and between SILICON
VALLEY BANK, a California-chartered bank, with its principal place of business
at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan production
office located at One Newton Executive Park, Suite 200, 2221 Washington Street,
Newton, Massachusetts 02462, doing business under the name "Silicon Valley East"
("Bank") and GREENFIELD ONLINE, INC., a Delaware corporation with its principal
place of business at 21 River Road, Wilton, Connecticut 06897 ("Borrower").

1. DESCRIPTION OF EXISTING INDEBTEDNESS. Among other obligations and
indebtedness which may be owing by Borrower to Bank, Borrower is indebted to
Bank pursuant to a loan arrangement dated as of August 9, 2001, evidenced by,
among other documents, a certain Accounts Receivable Financing Agreement dated
as of August 9, 2001, as amended by a certain First Loan Modification Agreement
dated as of September 24, 2001, as affected by a certain Consent and Partial
Release dated December 21, 2001 and a certain Consent dated January 30, 2002, as
further amended by a certain Second Loan Modification Agreement dated as of
January 31, 2002 (as amended, the "Loan Agreement"). Capitalized terms used but
not otherwise defined herein shall have the same meaning as in the Loan
Agreement.

2. DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by the
Collateral as described in the Loan Agreement and a certain Intellectual
Property Security Agreement dated August 9, 2001 (the "IP Agreement") (the
"Security Documents").

Hereinafter, the Security Documents, together with all other documents
evidencing or securing the Obligations shall be referred to as the "Existing
Loan Documents".

3. DESCRIPTION OF CHANGE IN TERMS.

      Modifications to Loan Agreement.

            The Loan Agreement shall be amended by deleting the following
                  definition appearing in Section 1 thereof:

                        ""FACILITY PERIOD" is the period beginning on this date
                        and continuing until one year from the date of this
                        Agreement, unless the period is terminated sooner by
                        Bank with notice to Borrower or by Borrower pursuant to
                        Section 4.3."

                  and inserting in lieu thereof the following:

                        ""FACILITY PERIOD" is the period beginning on this date
                        and August 22, 2003, unless the period is terminated
                        sooner by Bank with notice to Borrower or by Borrower
                        pursuant to Section 4.3."

            The Loan Agreement shall be amended by deleting Section 6.3 (M)
                  thereof and inserting in lieu thereof the following:

                        "(M) Borrower shall have EBITDA of not less than $1.00
                        for the month ending September 30, 2002 and each month
                        thereafter."

<PAGE>

4. COLLATERAL AUDIT. Borrower acknowledges and agrees that in accordance with
Bank's right to audit Borrower's Collateral as set forth in Section 6.3(K) of
the Loan Agreement, Borrower will provide Bank access to its financial records
so that Bank may audit Borrower's Collateral on or before December 1, 2002.

5. FEES. Borrower shall pay to Bank a modification fee equal to Twenty Thousand
Dollars ($20,000.00), which fee shall be due on the date hereof and shall be
deemed fully earned as of the date hereof. Borrower shall also reimburse Bank
for all legal fees and expenses incurred in connection with this amendment to
the Existing Loan Documents.

6. RATIFICATION OF INTELLECTUAL PROPERTY SECURITY AGREEMENT. Borrower hereby
ratifies, confirms and reaffirms, all and singular, the terms and conditions of
the IP Agreement, and acknowledges, confirms and agrees that the IP Agreement
contains an accurate and complete listing of all Intellectual Property
Collateral as defined in said Intellectual Property Security Agreement.

7. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever
necessary to reflect the changes described above.

8. RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and
reaffirms all terms and conditions of all security or other collateral granted
to the Bank, and confirms that the indebtedness secured thereby includes,
without limitation, the Obligations.

9. NO DEFENSES OF BORROWER. Borrower agrees that, as of this date, it has no
defenses against the obligations to pay any amounts under the Obligations.

10. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the
existing Obligations, Bank is relying upon Borrower's representations,
warranties, and agreements, as set forth in the Existing Loan Documents. Except
as expressly modified pursuant to this Loan Modification Agreement, the terms of
the Existing Loan Documents remain unchanged and in full force and effect.
Bank's agreement to modifications to the existing Obligations pursuant to this
Loan Modification Agreement in no way shall obligate Bank to make any future
modifications to the Obligations. Nothing in this Loan Modification Agreement
shall constitute a satisfaction of the Obligations. It is the intention of Bank
and Borrower to retain as liable parties all makers of Existing Loan Documents,
unless the party is expressly released by Bank in writing. No maker will be
released by virtue of this Loan Modification Agreement.

11. JURISDICTION/VENUE. Borrower accepts for itself and in connection with its
properties, unconditionally, the non-exclusive jurisdiction of any state or
federal court of competent jurisdiction in the Commonwealth of Massachusetts in
any action, suit, or proceeding of any kind against it which arises out of or by
reason of this Loan Modification Agreement; provided, however, that if for any
reason Bank cannot avail itself of the courts of the Commonwealth of
Massachusetts, then venue shall lie in Santa Clara County, California.
NOTWITHSTANDING THE FOREGOING, THE BANK SHALL HAVE THE RIGHT TO BRING ANY ACTION
OR PROCEEDING AGAINST THE BORROWER OR ITS PROPERTY IN THE COURTS OF ANY OTHER
JURISDICTION WHICH THE BANK DEEMS NECESSARY OR APPROPRIATE IN ORDER TO REALIZE
ON THE COLLATERAL OR TO OTHERWISE ENFORCE THE BANK'S RIGHTS AGAINST THE BORROWER
OR ITS PROPERTY.

12. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective
only when it shall have been executed by Borrower and Bank (provided, however,
in no event shall this Loan Modification Agreement become effective until signed
by an officer of Bank in California).

            [The remainder of this page is intentionally left blank]

<PAGE>

      This Loan Modification Agreement is executed as a sealed instrument under
the laws of the Commonwealth of Massachusetts as of the date first written
above.

GREENFIELD ONLINE, INC.                  SILICON VALLEY BANK

By:___________________________________   By:____________________________________

Name:_________________________________   Name:__________________________________

Title:________________________________   Title:_________________________________

<PAGE>

                       FOURTH LOAN MODIFICATION AGREEMENT

      This Fourth Loan Modification Agreement (this "Loan Modification
Agreement") is entered into as of August 22, 2003, by and between SILICON VALLEY
BANK, a California-chartered bank, with its principal place of business at 3003
Tasman Drive, Santa Clara, California 95054 and with a loan production office
located at One Newton Executive Park, Suite 200, 2221 Washington Street, Newton,
Massachusetts 02462, doing business under the name "Silicon Valley East"
("Bank") and GREENFIELD ONLINE, INC., a Delaware corporation with its principal
place of business at 21 River Road, Wilton, Connecticut 06897 ("Borrower").

1. DESCRIPTION OF EXISTING INDEBTEDNESS. Among other obligations and
indebtedness which may be owing by Borrower to Bank, Borrower is indebted to
Bank pursuant to a loan arrangement dated as of August 9, 2001, evidenced by,
among other documents, a certain Accounts Receivable Financing Agreement dated
as of August 9, 2001, as amended by a certain First Loan Modification Agreement
dated as of September 24, 2001, as affected by a certain Consent and Partial
Release dated December 21, 2001 and a certain Consent dated January 30, 2002, as
further amended by a certain Second Loan Modification Agreement dated as of
January 31, 2002, as further amended by a certain Third Loan Modification
Agreement dated September 26, 2002, as further affected by a certain Limited
Waiver dated August 6, 2003 (as amended, the "Loan Agreement"). Capitalized
terms used but not otherwise defined herein shall have the same meaning as in
the Loan Agreement

2. DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by the
Collateral as described in the Loan Agreement and a certain Intellectual
Property Security Agreements dated August 9, 2001 and September 26, 2002
(collectively, the "IP Agreement") (hereinafter, collectively, the "Security
Documents").

Hereinafter, the Security Documents, together with all other documents
evidencing or securing the Obligations shall be referred to as the "Existing
Loan Documents".

3. DESCRIPTION OF CHANGE IN TERMS.

      Modifications to Loan Agreement.

            Effective as of the date hereof, the Loan Agreement shall be amended
                  by deleting the definition of "Applicable Rate" appearing in
                  Section 1 thereof and inserting in lieu thereof the following:

                        ""APPLICABLE RATE" is a per annum rate equal to the
                        Prime Rate plus one percent (1.00%)."

            The Loan Agreement shall be amended by deleting the definition of
                  "Facility Period" appearing in Section 1 thereof and inserting
                  in lieu thereof the following:

                        ""FACILITY PERIOD" is the period beginning on this date
                        and ending on August 22, 2005, unless the period is
                        terminated sooner by Bank with notice to Borrower or by
                        Borrower pursuant to Section 4.3."

            The Loan Agreement shall be amended by deleting the definition of
                  "Minimum Finance Charge" appearing in Section 1 thereof and
                  inserting in lieu thereof the following:

                        ""MINIMUM FINANCE CHARGE" is a minimum monthly Finance
                        Charge of $5,000.00 payable by Borrower to Bank."

<PAGE>

            The Loan Agreement shall be amended by deleting Section 4.3 thereof
                  and inserting in lieu thereof the following:

                        "4.3 EARLY TERMINATION OF AGREEMENT. This Agreement may
                        be terminated prior to the last day of the Facility
                        Period as follows: (i) by Borrower, effective three (3)
                        Business Days after written notice of termination is
                        given to Bank; or (ii) by Bank at any time after the
                        occurrence of an Event of Default, without notice,
                        effective immediately. If this Agreement is terminated
                        by Borrower or by Bank on or before the last day of the
                        Facility Period, Borrower shall pay to Bank a
                        termination fee in an amount equal to Ten Thousand
                        Dollars ($10,000.00). The termination fee (the "Early
                        Termination Fee") shall be due and payable on the
                        effective date of termination and thereafter shall bear
                        interest at a rate equal to the highest rate applicable
                        to any of the Obligations. Notwithstanding the
                        foregoing, Bank agrees to waive the Early Termination
                        Fee if Bank agrees to refinance and redocument this
                        Agreement under this or another division of Bank (in its
                        sole and exclusive discretion) prior to the last day of
                        the Facility Period."

            The Loan Agreement shall be amended by deleting Section 6.3(D)(ii)
                  thereof and inserting in lieu thereof the following:

                        "(ii) audited consolidated financial statements prepared
                        under GAAP, consistently applied, together with an
                        unqualified opinion an opinion which is unqualified or
                        otherwise consented to by Bank on the financial
                        statements from an independent certified public
                        accounting firm acceptable to Bank, to be delivered to
                        Bank as soon as available, but no later than: (x)
                        September 30, 2003 for Borrower's fiscal year 2001
                        audited statements, (y) March 31, 2004 for Borrower's
                        fiscal year 2002 audited statements, and (z) one hundred
                        eighty (180) days after the end of Borrower's fiscal
                        year for each fiscal year thereafter.

            The Loan Agreement shall be amended by deleting Section 6.3(K)
                  thereof and inserting in lieu thereof the following:

                        "(K) Borrower will allow Bank to audit the Collateral,
                        including, but not limited to, Borrower's Accounts, at
                        Borrower's expense, annually upon reasonable notice.
                        Provided, however, if an Event of Default has occurred,
                        Bank may audit the Collateral, including, but not
                        limited to, Borrower's Accounts, at Bank's sole and
                        exclusive discretion and without notification and
                        authorization from Borrower."

4. FEES. Borrower shall pay to Bank a modification fee equal to Fifteen Thousand
Dollars ($15,000.00) (the "Modification Fee"), which Modification Fee shall be
due on the date hereof and shall be deemed fully earned as of the date hereof.
Borrower shall also reimburse Bank for all legal fees and expenses incurred in
connection with this amendment to the Existing Loan Documents.

5. ACQUISITION FINANCING. Borrower and Bank acknowledge and agree that Borrower
is considering acquiring one or more entities or assets (the "Potential
Acquisitions") prior to the end of the Facility Period. Borrower has indicated
to Bank that it may seek to finance all or portions of any such Potential
Acquisitions with Bank (the "Acquisition Financing"). Bank agrees that in the
event that Bank is unwilling to provide to Borrower the Acquisition Financing
with respect to any Potential Acquisition proposed by Borrower during the
Facility Period, on terms reasonably acceptable to Borrower and Borrower elects
to terminate the Loan Agreement solely as a result of same, Bank will agree to
waive the Early Termination Fee and will refund a pro-rata portion of the
Modification Fee, up to $10,000, based upon the date of termination (for
example, termination after one year (August 22, 2004) would result in a
$7,500.00 refund of the Modification Fee and termination after 23 months (July
22, 2005) would result in a $625.00 refund of the Modification Fee). Nothing
contained herein shall be deemed to waive any rights

<PAGE>

Bank has to consent to any such Potential Acquisition which is otherwise
prohibited by the terms of the Loan Agreement.

6. RATIFICATION OF INTELLECTUAL PROPERTY SECURITY AGREEMENT. Borrower hereby
ratifies, confirms and reaffirms, all and singular, the terms and conditions of
the IP Agreement, and acknowledges, confirms and agrees that, IP Agreement
contains an accurate and complete listing of all Intellectual Property
Collateral as defined in the IP Agreement.

7. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever
necessary to reflect the changes described above.

8. RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and
reaffirms all terms and conditions of all security or other collateral granted
to the Bank, and confirms that the indebtedness secured thereby includes,
without limitation, the Obligations.

9. NO DEFENSES OF BORROWER. Borrower hereby acknowledges and agrees that
Borrower has no offsets, defenses, claims, or counterclaims against Bank with
respect to the Obligations, or otherwise, and that if Borrower now has, or ever
did have, any offsets, defenses, claims, or counterclaims against Bank, whether
known or unknown, at law or in equity, all of them are hereby expressly WAIVED
and Borrower hereby RELEASES Bank from any liability thereunder.

10. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the
existing Obligations, Bank is relying upon Borrower's representations,
warranties, and agreements, as set forth in the Existing Loan Documents. Except
as expressly modified pursuant to this Loan Modification Agreement, the terms of
the Existing Loan Documents remain unchanged and in full force and effect.
Bank's agreement to modifications to the existing Obligations pursuant to this
Loan Modification Agreement in no way shall obligate Bank to make any future
modifications to the Obligations. Nothing in this Loan Modification Agreement
shall constitute a satisfaction of the Obligations. It is the intention of Bank
and Borrower to retain as liable parties all makers of Existing Loan Documents,
unless the party is expressly released by Bank in writing. No maker will be
released by virtue of this Loan Modification Agreement.

11. JURISDICTION/VENUE. Borrower accepts for itself and in connection with its
properties, unconditionally, the non-exclusive jurisdiction of any state or
federal court of competent jurisdiction in the Commonwealth of Massachusetts in
any action, suit, or proceeding of any kind against it which arises out of or by
reason of this Loan Modification Agreement; provided, however, that if for any
reason Bank cannot avail itself of the courts of the Commonwealth of
Massachusetts, then venue shall lie in Santa Clara County, California.
NOTWITHSTANDING THE FOREGOING, THE BANK SHALL HAVE THE RIGHT TO BRING ANY ACTION
OR PROCEEDING AGAINST THE BORROWER OR ITS PROPERTY IN THE COURTS OF ANY OTHER
JURISDICTION WHICH THE BANK DEEMS NECESSARY OR APPROPRIATE IN ORDER TO REALIZE
ON THE COLLATERAL OR TO OTHERWISE ENFORCE THE BANK'S RIGHTS AGAINST THE BORROWER
OR ITS PROPERTY.

12. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective
only when it shall have been executed by Borrower and Bank.

            [The remainder of this page is intentionally left blank]

<PAGE>

      This Loan Modification Agreement is executed as a sealed instrument under
the laws of the Commonwealth of Massachusetts as of the date first written
above.

GREENFIELD ONLINE, INC.                  SILICON VALLEY BANK

By:___________________________________   By:____________________________________

Name:_________________________________   Name:__________________________________

Title:________________________________   Title:_________________________________<PAGE>
                                                                   EXHIBIT 10.21

                                      LEASE

                                     between

                   WILTON CAMPUS PROPERTIES, LLC, as Landlord

                                       and

                       GREENFIELD ONLINE, INC., as Tenant

                                  15 RIVER ROAD
                                   WILTON, CT

                                October 20, 1999
<PAGE>
                                      LEASE

                                TABLE OF CONTENTS
<TABLE>
<S>         <C>                                                                                              <C>
ARTICLE 1.  GRANT.........................................................................................    1
ARTICLE 2.  TERM..........................................................................................    1
ARTICLE 3.  COMPLETION AND OCCUPANCY OF THE PREMISES......................................................    2
ARTICLE 4.  RENT AND SECURITY.............................................................................    3
ARTICLE 5.  ADDITIONAL RENT FOR ESCALATIONS IN REAL ESTATE TAXES..........................................    5
ARTICLE 6.  SERVICES AND UTILITIES........................................................................    9
ARTICLE 7.  CONDUCT OF BUSINESS BY TENANT.................................................................   10
ARTICLE 8.  ALTERATIONS, IMPROVEMENTS AND SIGNAGE.........................................................   12
ARTICLE 9.  INSURANCE.....................................................................................   13
ARTICLE 10. CASUALTY......................................................................................   15
ARTICLE 11. CONDEMNATION..................................................................................   16
ARTICLE 12. ASSIGNMENT AND SUBLETTING.....................................................................   17
ARTICLE 13. DEFAULTS AND REMEDIES.........................................................................   19
ARTICLE 14. NONDISTURBANCE AND RIGHTS OF MORTGAGE HOLDERS.................................................   22
ARTICLE 15. NOTICES.......................................................................................   23
ARTICLE 16. MISCELLANEOUS.................................................................................   23
ARTICLE 17. OPTION TO RENEW...............................................................................   25
ARTICLE 18. RIGHT TO CANCEL...............................................................................   25
ARTICLE 19. GROUND LEASE..................................................................................   26
</TABLE>

                                LIST OF EXHIBITS

Exhibit A     Premises
Exhibit B     Site Description
Exhibit C     Base Building Improvements
Exhibit D     Rules and Regulations Attached to and Made a Part of this Lease
Exhibit E     Ground Lease
<PAGE>
                                      LEASE

         This Lease is made and entered into as of this 20th day of October,
1999, by and between WILTON CAMPUS PROPERTIES, LLC, a Connecticut Limited
Liability Company, with its principal place of business at 1300 Post Road East,
Westport, Connecticut (the "LANDLORD") and GREENFIELD ONLINE, INC., a
Connecticut Corporation with its principal place of business at 274 Riverside
Avenue, Westport, Connecticut (the "TENANT").

                                 ARTICLE 1.GRANT

1.01 PREMISES. Landlord, for and in consideration of the rents herein reserved
and of the covenants and agreements herein contained on the part of Tenant to be
performed, hereby leases to Tenant and Tenant accepts from Landlord, certain
space shown on Exhibit A attached hereto and made a part hereof, containing
approximately 30,500 rentable square feet of second floor offices (hereinafter
referred to as the "PREMISES"), situated in a building to be constructed on the
property located at 11-15 River Road, Wilton, Connecticut, (the "BUILDING"). The
Premises, Building, the "COMMON AREAS" (defined below) and the land upon which
the same are located, which is legally described in Exhibit B (the "SITE"),
together with all other improvements thereon and thereunder are collectively
referred to as the "PROJECT". The actual rentable square footage of the Premises
will be determined by a measurement conducted by a third party architect
selected by Landlord and Tenant using the Building Owners and Managers
Association ("BOMA") standards and methodology. Such measurement shall be in
connection with the Premises on the second floor of the Building only. Any
adjustment to the 30,500 rentable square feet demised by this Lease, greater or
lesser, shall be based on the assumption that the second floor rentable square
footage is 29,732. The rentable square footage for the Premises (30,500) shall
be increased or decreased based on the difference between 29,732 and the
measurement undertaken pursuant to this Section. The results of such measurement
shall be set forth in the recordable certificate of the Commencement Date
executed by the parties pursuant to this Lease upon completion of construction.

         1.02 COMMON AREAS. Landlord hereby grants to Tenant during the term of
this Lease, a license to use, in common with the others entitled to such use,
the Common Areas as they from time to time exist, subject to the rights, powers
and privileges herein reserved to Landlord. The term "Common Areas" as used
herein will include the first floor lobby as shown on Exhibit A-1 which shall be
available only to the second floor tenants in the Building and for emergency
ingress and egress in favor of the adjacent first floor tenant together with all
areas and facilities outside the Premises that are provided and designated by
Landlord for general use and convenience of Tenant and other tenants including,
but not limited to the hallways, lobbies, stairways, elevators, pedestrian
sidewalks, landscaped areas, loading areas, roadways, parking areas, rights of
way, walking and jogging paths, if any.

         1.03 PARKING. Tenant shall be entitled to use the parking facilities at
the Building in common with other tenants, but such right shall be limited to
approximately four (4) non-exclusive tenant parking spaces for each 1,000
rentable square feet of Premises, rounded to the nearest whole digit. Tenant
agrees not to overburden the parking facilities and agrees to cooperate with
Landlord and other tenants in the use of parking facilities. Landlord reserves
the right, at any time, to designate parking spaces in the Common Areas for the
handicapped and visitors to the Building and all tenants. For the term of this
Lease, Landlord agrees to reserve six (6) parking spaces in a reasonable
location of which two (2) spaces shall be as close to the entrance of the
Premises as possible, to be determined by Landlord.

                                 ARTICLE 2. TERM

         2.01 LEASE TERM.

            (a) The Premises are leased for a term to commence on the
"Commencement Date" (as defined in Section 3.01(b)) and shall end on the date
(the "EXPIRATION DATE") that is nine (9) "Lease Years" (defined below) after the
Commencement Date unless sooner terminated as herein provided (including any
option terms, the "TERM"). If Landlord gives and Tenant accepts possession prior
to the Commencement Date, such occupancy shall be subject to all the terms and
conditions of this Lease and rent and other charges shall be prorated to the
date that Tenant takes possession of the Premises.

            (b) The first "LEASE YEAR" shall begin on the date hereof and shall
end on the last day of the twelfth (12th) full calendar month following the
Commencement Date. Each Lease Year thereafter shall consist of twelve (12)
consecutive calendar months following the end of the immediately preceding Lease
Year except that the final Lease Year shall end on the Expiration Date.

         2.02 HOLDOVER TENANCY. Tenant acknowledges that if it fails to deliver
possession of the Premises to Landlord upon the expiration or sooner termination
of this Lease, Landlord shall incur substantial economic loss. In the event that
Tenant shall hold the Premises, or any part thereof, after the expiration of the
Lease Term without the prior written consent of the Landlord, such holding shall

                                       1
<PAGE>
constitute and be construed as a tenancy at will only and for the first six (6)
months of such holding over carry a daily rental equal to 125% of the daily
Annual Base Rent payable during the last month, and for all periods after said
six (6) months a daily rental equal to 150% of the daily Annual Base Rent
payable during the last month of the Lease Term, plus 100% of the daily rate of
Additional Rent and other sums due under this Lease during the last month of the
Lease Term. In addition to such increased rental payment and any other
liabilities to Landlord accruing therefrom, Tenant shall indemnify and hold
Landlord harmless from loss or liability resulting from such failure, including,
without limiting the generality of the foregoing, both direct and consequential
liabilities and damages of Landlord arising from claims made by any succeeding
tenant arising due to such failure. Nothing contained herein shall be construed
as Landlord's consent for Tenant's holdover.

               ARTICLE 3.COMPLETION AND OCCUPANCY OF THE PREMISES

DELIVERY OF THE PREMISES. (A)Landlord shall construct the base building
improvements ("BASE BUILDING IMPROVEMENTS") described on Exhibit C attached
hereto. Landlord shall complete the Base Building Improvements no later than
August 15, 2000 .Landlord's obligation to deliver the Premises to Tenant with
the Base Building Improvements substantially completed on or before August 15,
2000 shall be extended by the number of days of delay resulting from any "FORCE
MAJEURE DELAY" as defined in Section 16.12 hereof. Landlord represents and
warrants to Tenant (i) that as of the date of this Lease it has obtained all
required permits and approvals from all relevant municipal, state and federal
agencies and departments with jurisdiction over the Project, authorizing and
permitting the Landlord to begin construction of the Base Building Improvements;
and, (ii) that during the construction of the Base Building Improvements
Landlord will comply with all terms and conditions of all permits and approvals
issued in connection with the Project and the construction of the Base Building
Improvements. For the purposes of this Section 3.01, the term "SUBSTANTIALLY
COMPLETE" shall mean Landlord has sufficiently completed the Base Building
Improvements in accordance with this Lease ( except minor punchlist items which
Landlord shall thereafter promptly complete) so that Tenant can proceed to
construct the Leasehold Improvements continuously and without interruption.

            (a) As soon as reasonably possible after the execution of this
Lease, the parties and their respective architects shall work cooperatively and
diligently to prepare and approve the space plan for the Premises which shows
Tenant's leasehold improvements and installations (the "LEASEHOLD IMPROVEMENTS")
and thereafter, architectural and construction plans and drawings prepared for
the Leasehold Improvements (the "FINAL PLANS"). Tenant's architect, VanSummern
Group Architects, will cooperate with Landlord's architect to arrive at mutually
agreed upon space plans and building features. Tenant shall be responsible for
the selection of a general contractor to complete the Leasehold Improvements,
subject to the reasonable approval of Landlord. Landlord shall contribute an
allowance ("LANDLORD'S ALLOWANCE") of not greater than $25 per rentable square
feet to be fully applied toward the cost of Leasehold Improvements. Landlord
shall pay the Landlord's Allowance to the Tenant as billed by Tenant commencing
with the first expenditures for the Leasehold Improvements. Tenant shall provide
Landlord with reasonable documentation as to expenditures.

            (b) Tenant shall substantially complete the Leasehold Improvements
in accordance with the Final Plans and obtain the issuance of a final
certificate of occupancy no later than November 15, 2000..However, this period
to obtain a final certificate of occupancy shall be extended by twice the number
of days past August 15, 2000 that the Landlord completes the Base Building
Improvements and delivers the Base Building to the Tenant. The term of this
Lease and the obligations of the parties hereto shall commence on a date which
shall be the sooner of (a) the date Tenant commences operation of its business
in all or any portion of the Premises; or (b) A date which is determined by
counting past November 15, 2000 a number of days equal to twice the number of
days from August 15, 2000 that the Landlord completes the Base building
Improvements and delivers the Base Building to Tenant. For every day beyond
September 1, 2000 that the Landlord fails to complete the Base Building
Improvements the Landlord shall grant Tenant a rent credit equal to two days of
the Daily Annual Base Rent for the first Lease Year, such credit to be used by
the Tenant starting with the Commencement Date. In the event that the Landlord
fails to complete the Base Building Improvements on or before September 1, 2000,
and Tenant receives the rent credits provided for in this section, the Term of
this Lease shall not be extended by the number of free rent days to which Tenant
is entitled, but shall terminate on a date calculated according to the terms of
this Lease under the assumption that the Landlord had completed the Base
Building Improvements on September 1, 2000.

            (c) The term "Commencement Date" shall mean and refer to the date
the later of November 15, 2000 or the extended date determined in accordance
with Section 3.01(b) above, whichever is applicable.

         3.02 TENANT'S COMMUNICATIONS SYSTEMS. Tenant shall be responsible for
the design, installation and construction of Tenant's data, telephone and video
systems and wiring and payment of all cost and expense related thereto.

                                       2
<PAGE>
         3.03 CONFIRMATORY AMENDMENTS. When the Commencement Date and Expiration
Date hereof have been determined in accordance with the provisions set forth in
this Lease, the parties hereto shall execute a document, setting forth said
dates and said document shall be deemed a supplement to and part of this Lease.
The parties hereto agree to execute such confirmatory document not later than
thirty (30) days following the Commencement Date.

                          ARTICLE 4.RENT AND SECURITY

         4.01 ANNUAL BASE RENT. Beginning with the Commencement Date and
continuing throughout the Term, Tenant shall pay to or upon the order of
Landlord an annual rental (the "ANNUAL BASE RENT") as set forth below which
shall be payable in consecutive monthly installments on or before the first day
of each calendar month in advance in the monthly amount set forth below, as
adjusted by the measurement required by Section 1.01:

<TABLE>
<CAPTION>
                                                             ANNUAL BASE RENT PER
PERIOD                               ANNUAL BASE RENT        RENTABLE SQUARE FOOT              MONTHLY BASE RENT
------                               ----------------        --------------------              -----------------
<S>                                  <C>                     <C>                               <C>
Lease Years 1-3                         $823,500.00                    $27.00                     $68,625.00
Lease Years 4-6                         $884,500.00                    $29.00                     $73,708.33
Lease Years 7-9                         $945,500.00                    $31.00                     $78,791.67
</TABLE>

         All payments of rent shall be made without demand, deduction,
counterclaim, set-off, discount or abatement in lawful money of the United
States of America. If the Commencement Date should occur on a day other than the
first day of a calendar month, or the Expiration Date should occur on a day
other than the last day of a calendar month, then the monthly installment of
Annual Base Rent for such fractional month shall be prorated upon a daily basis
based upon a thirty (30) day month.

         4.02 ADDITIONAL RENT. Tenant shall pay to Landlord all charges and
other amounts required under this Lease and the same shall constitute additional
rent hereunder (herein called "ADDITIONAL RENT"), including, without limitation,
any sums due resulting from the provisions of Article 5 hereof. All such amounts
and charges shall be payable to Landlord at the place where the Annual Base Rent
is payable. Landlord shall have the same remedies for a default in the payment
of Additional Rent as for a default in the payment of Annual Base Rent. The term
"RENT" as used in this Lease shall mean the Annual Base Rent and the Additional
Rent.

         4.03 PLACE OF PAYMENT. The Annual Base Rent and all other sums payable
to Landlord under this Lease shall be paid to Landlord at P.O. Box 703,
Westport, Connecticut 06881, or at such other place as Landlord shall designate
in writing to Tenant from time to time.

         4.04 TERMS OF PAYMENT. Tenant shall pay to Landlord all Annual Base
Rent as provided in Section 4.01 above and Tenant shall pay all Additional Rent
payable under Articles 5 and 6 on the terms provided therein. Except as provided
in this Article 4 and as may otherwise be expressly provided by the terms of
this Lease, Tenant shall pay to Landlord, within fifteen (15) days after
delivery by Landlord to Tenant of bills or statements therefor: (a) sums equal
to all expenditures made and monetary obligations incurred by Landlord under
this Lease for Tenant's account including, without limitation, expenditures made
and obligations incurred in connection with the remedying by Landlord any of
Tenant's defaults pursuant to the provisions of this Lease; (b) sums equal to
all expenditures made and monetary obligations incurred by Landlord for
reasonable counsel fees, in collecting or attempting to collect the Rent or any
other sum of money accruing under this Lease or in enforcing or attempting to
enforce any rights of Landlord under this Lease or pursuant to law; and (c) all
other sums of money accruing from Tenant to Landlord under the provisions of
this Lease.

         4.05 LATE CHARGES. If Tenant shall fail to pay any Annual Base Rent or
Additional Rent within ten (10) days after the date same is due and payable,
Tenant shall pay to Landlord (a) an administrative fee equal to five percent
(5%) of the amount due to cover Landlord's additional administrative costs and
cost of funds resulting from Tenant's failure, and (b) interest on the amount
due from its due date until paid at the lesser of 12% per annum or the maximum
legal rate that Landlord may charge Tenant; provided that, no such charges or
interest shall be payable with respect to any delinquent payment if such payment
is received by Landlord within five (5) days following written notice of such
failure. Such charges shall be paid to Landlord together with such unpaid
amounts. Such late payment charge shall not diminish or impair any other
remedies available to Landlord.

         4.06 SECURITY DEPOSIT.

                  (a) For the faithful performance of all terms, covenants and
                  conditions of this Lease, Tenant shall pay to and deposit with
                  Landlord, a security deposit in the amount of Five Hundred
                  Thousand Dollars and 00/100 ($500,000.00) as follows (the
                  "SECURITY DEPOSIT"): the sum of Two Hundred Thousand Dollars
                  and 00/100 ($200,000.00) payable

                                       3
<PAGE>
                  upon the execution of this Lease; One Hundred Thousand Dollars
                  and 00/100 ($100,000.00) payable on March 1, 2000 and, upon
                  Landlord's completion of the Base Building Improvements, an
                  unconditional, clean, letter of credit (the "L-C") in the
                  initial amount of Two Hundred Thousand Dollars ($200,000.00),
                  which L-C shall be issued by a money-center bank (a bank which
                  accepts deposits, maintains accounts, has a local Fairfield
                  County office which will negotiate a letter of credit, and
                  whose deposits are insured by the FDIC) reasonably acceptable
                  to Landlord, and which L-C shall be in a form and content
                  reasonably acceptable to Landlord. Tenant shall pay all
                  expenses, points and/or fees incurred by Tenant in obtaining
                  the L-C.

         (b) The L-C shall not be mortgaged, assigned or encumbered in any
manner whatsoever by Tenant without the prior written consent of Landlord. If
Tenant defaults with respect to any provisions of this Lease, including, but not
limited to, the provisions relating to the payment of Rent, or if Tenant fails
to renew the L-C at least thirty (30) days before its expiration, Landlord may,
but shall not be required to, draw upon all or any portion of the L-C for
payment of any Rent or any other sum in default, or for the payment of any
amount that Landlord may reasonably spend or may become obligated to spend by
reason of Tenant's default, or to compensate Landlord for any other loss or
damage that Landlord may suffer by reason of Tenant's default. The use,
application or retention of the L-C, or any portion thereof, by Landlord shall
not prevent Landlord from exercising any other right or remedy provided by this
Lease or by law, it being intended that Landlord shall not first be required to
proceed against the L-C and shall not operate as a limitation on any recovery to
which Landlord may otherwise be entitled. Any amount of the L-C which is drawn
upon by Landlord, but is not used or applied by Landlord, shall be held by
Landlord and deemed a security deposit (the "L-C Security Deposit"). If any
portion of the L-C is drawn upon, Tenant shall, within five (5) days after
written demand therefor, either (i) deposit cash with Landlord (which cash shall
be applied by Landlord to the L-C Security Deposit) in an amount sufficient to
cause the sum of the L-C Security Deposit and the amount of the remaining L-C to
be equivalent to the amount of the L-C then required under this Lease or (ii)
reinstate the L-C to the amount then required under this Lease, and if any
portion of the L-C Security Deposit is used or applied, Tenant shall, within
five (5) days after written demand therefor, deposit cash with Landlord (which
cash shall be applied by Landlord to the L-C Security Deposit) in an amount
sufficient to restore the L-C Security Deposit to the amount then required under
this Lease, and Tenant's failure to do so shall be a default under this Lease.
Tenant acknowledges that Landlord has the right to transfer or mortgage its
interest in the Project and the Building and in this Lease and Tenant agrees
that in the event of any such transfer or mortgage, Landlord shall have the
right to transfer or assign the L-C Security Deposit and/or the L-C to the
transferee or mortgagee, and in the event of such transfer and the assumption by
the transferee of all of the Landlord's obligations under this Lease, Tenant
shall look solely to such transferee or mortgagee for the return of the L-C
Security Deposit and/or the L-C.

         (c) Provided Tenant is not in default of any of the terms, provisions
and/or conditions of this Lease, Landlord shall return a portion of the Security
Deposit to Tenant as follows: One Hundred Thousand Dollars ($100,000.00) within
sixty (60) days following the end of the first Lease Year and, One Hundred
Thousand Dollars ($100,000.00) within sixty (60) days following the end of the
second Lease Year.

         (d) Tenant agrees that Landlord may, without waiving any of Landlord's
other rights and remedies under this Lease upon the occurrence of any of the
Events of Default described in Article 13 hereof, apply the Security Deposit (i)
to remedy any failure by Tenant to repair or maintain the Premises or to perform
any other terms, covenants or conditions contained herein, or (ii) to compensate
Landlord for damages incurred, or to reimburse Landlord as provided herein, in
connection with any such Event of Default. Should Landlord use any portion of
the Security Deposit to cure any Event of Default by Tenant hereunder, Tenant
shall forthwith replenish the Security Deposit to the original amount. Landlord
shall not be required to keep the Security Deposit separate from its general
funds, and Tenant shall not be entitled to interest on any such deposit.

         (e) In the event of a sale or leasing of the Building, Landlord shall
have the right to transfer the balance of the Security Deposit to the new owner
or to tenant. Landlord shall thereupon be released by Tenant from all liability
for the return of the Security Deposit; and Tenant agrees to look to the new
landlord. If any mortgagee, including Landlord's Mortgagee (defined in Section
14.01(a) below) should succeed to Landlord's interests hereunder, such mortgagee
should only be liable to Tenant for any security deposited by Tenant hereunder
to the extent such security was actually transferred to such mortgagee.

         (f) If Tenant performs all of Tenant's obligations hereunder, Landlord
will, within 30 days after the expiration or earlier termination of the Lease,
return the remainder of the Security Deposit, or so much as has not been applied
by Landlord, to Tenant or the last permitted assignee of Tenant's interest
hereunder

                                       4
<PAGE>
         ARTICLE 5. ADDITIONAL RENT FOR ESCALATIONS IN REAL ESTATE TAXES

                             AND OPERATING EXPENSES

         5.01 DEFINITIONS. Annual Base Rent does not anticipate any increase in
the amount of taxes on the Building, or in the cost of the operation and
maintenance thereof. In order that the rent payable hereunder shall reflect any
such increases, Tenant agrees to pay as Additional Rent, an amount calculated as
hereinafter set forth. For purposes of this Article 5, the following definitions
shall apply:

            "TAX YEAR": means the fiscal year of the Town of Wilton (July 1 -
June 30) or other applicable governmental authority for real estate tax purposes
or such other twelve (12) month period as may be duly adopted in place thereof.

            "BASE TAXES": shall mean the amount of Building Taxes as assessed by
the Town of Wilton during the Grand List Year of the issuance of a Certificate
of Occupancy for the Building, and the amount of LandTaxes assessed against the
land constituting the Site on the Grand List of October 1, 2000.

            . "BUILDING TAXES": shall mean all Taxes assessed against the
Building.

            " LAND TAXES" : shall mean all Taxes assessed against the land
constituting the Site, against those improvements to the land which are part of
the Common Areas of the Site, and against the signs, if any on the Site, but the
Land Tax shall not include any Taxes assessed against any buildings at the
Project.

            "TAXES": All taxes, assessments and charges of every kind and nature
levied, assessed or imposed at any time by any governmental authority upon or
against the Project or any improvements, fixtures and equipment of Landlord or
the owner of the Project used in the operation thereof whether such taxes and
assessments are general or special, ordinary or extraordinary, foreseen or
unforeseen in respect of each Tax Year following wholly or partially within the
Term. Taxes shall include, without limitation, all general real property taxes
and general and special assessments, charges, fees or assessments for all
governmental services or purported benefits to the Project, service payments in
lieu of taxes, all business privilege taxes, and any tax, fee or excise on the
act of entering into this Lease or any other lease of space in the Building, or
on the use or occupancy of the Building or any part thereof, or on the rent
payable under any lease or in connection with the business of renting space
under any lease or in connection with the business of renting space in the
Building, that are now or hereafter levied or assessed against Landlord by the
United States of America, the State of Connecticut, or any political
subdivision, public corporation, district or other political or public entity,
including legal fees, experts' and other witnesses' fees, costs and
disbursements incurred in connection with proceedings to contest, determine or
reduce Taxes. In the event that the Town of Wilton levies real property taxes on
the Project based on an assessment of the Project's value in a manner that
differentiates between rentable square footage at the Project used for retail
purposes as opposed to rentable square footage used for office purposes, Tenant
shall be responsible only for Additional Rent payments based on the increases in
real estate taxes levied on the rentable square footage devoted to office uses
multiplied by the Tenant's proportionate share of the rentable square footage at
the Project devoted to office use. Taxes shall also include any other tax, fee
or other excise, however described, that may be levied or assessed as a
substitute for, or as an addition to, in whole or in part, any other Taxes
(including, without limitation, any municipal income tax) and any license fees,
tax measured or imposed upon rents, or other tax or charge upon Landlord's
business of leasing the Building, whether or not now customary or in the
contemplation of the parties on the date of this Lease.

            Taxes shall not include: (i) franchise, transfer, gift excise,
capital stock, estate, succession and inheritance taxes, and federal and state
income taxes measured by the net income of Landlord from all sources, unless due
to a change in the method of taxation such tax is levied or assessed against
Landlord as a substitute for, or as an addition to, in whole or in part, any
other Tax that would constitute a Tax; or (ii) penalties or interest for late
payment of Taxes.

            "BASE EXPENSE YEAR": shall mean the calendar year 2001.

            "EXPENSE YEAR": shall mean the first and full calendar year
following the Base Expense Year and each calendar year thereafter.

            "BASE EXPENSES": shall mean the Operating Expenses for the Base
Expense Year equitably adjusted to the amount such Operating Expenses would have
been if ninety-five percent (95%) of the rentable area in the Building had been
occupied during the Base Expense Year if there is less than ninety-five percent
(95%) occupancy in the Base Expense Year. Only those component expenses that are
affected by variation in occupancy levels shall be "grossed-up". For purposes of
determining Tenant's Proportionate Share of increases in the Operating Expenses,
the Base Expenses shall be deemed to have been incurred by Landlord during the
Base Expense Year.

                                       5
<PAGE>
            "EXPENSE INCREASES": attributable to an Expense Year, shall mean the
excess, if any, of the Operating Expenses incurred during such Expense Year
equitably adjusted, if less than ninety-five percent (95%) occupancy, to the
amount such Operating Expenses would have been if ninety-five percent (95%) of
the rentable area in the Building had been occupied during the Expense Year over
the Base Expenses. Only those component expenses that are affected by variation
in occupancy levels shall be "grossed-up".

            "OPERATING EXPENSES": all costs and expenses (and taxes, if any,
thereon) paid or incurred on behalf of Landlord (whether directly through the
Ground Lease or through independent contractors) in connection with the
ownership, management, operation, maintenance and repair of the Building and
Common Areas and the Building's equitable share of any facilities or amenities
benefiting the Building or Site (including any sales or other taxes thereon)
during the Term as a first-class building, including, without limitation:

            (a) Charges of independent contractors for expenses otherwise
includable in Operating Expenses, including, without limitation, charges for
window washing and other cleaning and janitorial services, snow and ice removal
services, exterior and interior landscaping, pest extermination services and
services for the maintenance and repair of the parking facilities, roadways and
light poles;

            (b) All heating, ventilating, air conditioning, plumbing,
electrical, mechanical, sewer, fire detection, life safety and security systems,
telecommunications facilities, elevators and escalators, tenant directories,
emergency generator, sprinkler systems, and other equipment used in common by,
or for the benefit of, the Common Areas, occupants of the Building; and Utility
Expenses (excluding electricity supplied to the Premises and billed to Tenant
pursuant to Section 5.04 and electricity used by other tenants of the Building
within their leased space and billed directly to such tenants);

            (c) The premiums for fire, extended coverage, loss of rents, boiler,
machinery, sprinkler, public liability, property damage, earthquake, flood, and
all other insurance relative to the Project and the operation and maintenance
thereof plus the cost of the deductible payments made by Landlord in connection
therewith;

            (d) All supplies, tools, materials, equipment and maintenance and
service contracts in connection therewith; telephone, stationery, office
supplies and other office costs of administration; consulting fees, legal fees
and accounting fees and other expenses of maintaining and auditing Project
accounting records and preparing Landlord's Statements;

            (e) Replacing, repairing, and/or adding any equipment, device,
improvement in order to reduce (or avoid an increase in) operation or
maintenance expenses with respect to the Project, or to comply with laws or
governmental orders or the requirements of Landlord's insurers, and any repairs
or removals necessitated thereby, amortized over their useful life as determined
in the reasonable judgment of Landlord's accountant (including interest at the
rate of 12% per annum or such higher rate as may have been paid by Landlord on
funds borrowed for the purpose of constructing such improvements);

            (f) Salaries, wages, compensation, out-of-pocket expenses, union
benefits and labor costs (including the amount of any taxes, social security
taxes, unemployment insurance contributions, insurance, retirement, medical,
workers' compensation and other employee benefits) of janitors, janitresses,
engineers and other employees of Landlord, and any on-site employees (below the
executive level) of Landlord's property management agent;

            (g) Fees for management services whether rendered by Landlord (or
affiliate) or a third-party property manager which shall be limited to an amount
no greater than 4% of the gross rents of the Building ;

            Operating Expenses shall not include: (a) utility expenses that are
separately metered for any individual tenant in the Building; (b) any expense
for which Landlord is reimbursed by a specific tenant by reason of a special
agreement or requirement of the occupancy of the Building by such tenant; (c)
expenses for services provided by Landlord for the exclusive benefit of a given
tenant or tenants for which Landlord is directly reimbursed by such tenant or
tenants; (d) all costs, fees and disbursements relating to activities for the
solicitation, negotiation and execution of leases for space in the Building
(including but not limited to attorneys' fees therefor); (e) the costs of
alterations to, or the decorating or the redecorating of, space in the Building
leased to other tenants; (f) except as stated in subparagraph (g) of the
definition of Operating Expenses, the costs associated with the operation of the
business of the ownership or entity which constitutes "Landlord", including
costs of selling, syndicating, financing or mortgaging any of Landlord's
interest in the Project; (g) depreciation, interest and principal payments on
mortgages and other debt costs, if any; (h) repairs or other work required due
to fire or other casualty to the extent of insurance proceeds received by
Landlord; (i) capital expenses for items that are not included

                                       6
<PAGE>
in the definition of "Operating Expenses; (j) all payments of Base Rent made by
Landlord pursuant to the Ground Lease .

            "TENANT'S PROPORTIONATE SHARE": On the Commencement Date, Tenant's
Proportionate Share shall be (i) 41.89%) percent for Building Taxes and
Operating Expenses which are solely related to the Building , (ii) 16.08%
percent for Land Taxes and Operating Expenses incurred for the benefit of all of
the rentable square footage at the Project .

            "LANDLORD'S STATEMENT": Shall mean an instrument containing a
computation of any Additional Rent due pursuant to the provisions of this
Article 5.

            "UTILITY EXPENSES": All expenses paid or incurred on behalf of
Landlord for utility or utility services for the Common Areas of the Project,
including, but not limited to, water, sewer, electric, gas, steam, fuel oil and
chilled water, together with any taxes on said costs.

         5.02 PAYMENT OF TAXES. Tenant shall pay, as Additional Rent, Tenant's
Proportionate Share of all Land Taxes and all Building Taxes in respect of any
Tax Year falling wholly or partially within the Term, to the extent that Taxes
for any such period shall exceed the Base Taxes (which payment shall be adjusted
by proration with respect to any partial Tax Year. Landlord shall submit to
Tenant a copy of the bill for Taxes payable by Landlord under the Ground Lease
and a copy of the bill for Building Taxes together with Landlord's Statement and
Tenant shall pay the Additional Rent set forth on such Landlord's Statement
(less the amount of estimated payments paid by Tenant on account thereof) as set
forth herein. Landlord, at its option, may require Tenant to make monthly
payments on account of Tenant's Proportionate Share of Taxes in excess of the
Base Taxes. The monthly payments shall be one-twelfth (1/12th) of the amount of
Tenant's Proportionate Share of Taxes in excess of the Base Taxes and shall be
payable on or before the first day of each month during the Term, in advance, in
an amount estimated by Landlord and billed by Landlord to Tenant; provided that
Landlord shall have the right initially to determine such monthly estimates and
to revise such estimates from time to time. With reasonable promptness after
Landlord has received the tax bills for any Tax Year, Landlord shall furnish
Tenant with Landlord's Statement with respect thereto. If the actual amount of
Tenant's Proportionate Share of Taxes exceeds the estimated amount of Tenant's
Proportionate Share of Taxes paid by Tenant for any Tax Year, then Tenant shall
pay to Landlord as Additional Rent the difference between the amount of
estimated Tenant's Proportionate Share of Taxes paid by Tenant and the actual
amount of Tenant's Proportionate Share of Taxes. This Additional Rent payment
shall be due and payable within thirty (30) days after delivery of Landlord's
Statement. If the total amount of estimated payments made by Tenant in respect
of Tenant's Proportionate Share of Taxes paid by Tenant for any Tax Year shall
exceed the actual amount of Tenant's Proportionate Share of Taxes for such Tax
Year, then such excess amount shall be credited against the monthly installments
of Additional Rent due and payable from Tenant to Landlord hereunder with
respect to Taxes, until such amount shall have been refunded in full to Tenant.

         5.03 PAYMENT OF OPERATING EXPENSES. Tenant shall pay to Landlord on
account of Tenant's Proportionate Share of Expense Increase and as Additional
Rent, a sum equal to one-twelfth (1/12) of the amount of Tenant's Proportionate
Share of Expense Increases for each Expense Year on or before the first day of
each month of such Expense Year, in advance, in an amount estimated by Landlord
and billed by Landlord to Tenant; provided that Landlord shall have the right
initially to determine such monthly estimates and to revise such estimates from
time to time. After the expiration of the Base Expense Year and each Expense
Year, Landlord shall prepare and furnish Tenant with Landlord's Statement
showing the Base Expenses or the Operating Expenses incurred during such Expense
Year. Within thirty (30) days after receipt of Landlord's Statement for any
Expense Year setting forth Tenant's Proportionate Share of any Expense Increase
attributable to such Expense Year, Tenant shall pay Tenant's Proportionate Share
of such Expense Increase (less the amount of estimated payments paid by Tenant
on account thereof) to Landlord as Additional Rent. If the actual amount of
Tenant's Proportionate Share of the Expense Increase for such Expense Year
exceeds the estimated amount of Tenant's Proportionate Share of Expense
Increases paid by Tenant for such Expense Year, then Tenant shall pay to
Landlord the difference between the estimated amount of Tenant's Proportionate
Share of Expense Increases paid by Tenant and the actual amount of Tenant's
Proportionate Share of Expense Increases. This Additional Rent payment shall be
due and payable within thirty (30) days following delivery of Landlord's
Statement. If the total amount of estimated payments made by Tenant in respect
of Tenant's Proportionate Share of Expense Increases for such Expense Year shall
exceed the actual amount of Tenant's Proportionate Share of Expense Increases
for such Expense Year, then such excess amount shall be credited against the
monthly installments of Additional Rent due and payable from Tenant to Landlord
hereunder with respect to Expense Increases until such amount shall have been
refunded in full to Tenant. Notwithstanding anything to the contrary herein, in
no event shall the aggregate credits allowable to Tenant, in any Expense Year
pursuant to this Article 5 exceed the aggregate of the Additional Rent payments
payable by Tenant pursuant to this Article 5; provided, however, any excess
payments made by Tenant during the Term that have not been so applied and are
outstanding at the end of the Term shall be paid to Tenant promptly following
Landlord's final accounting for the final Expense Year.

                                       7
<PAGE>
         5.04 PAYMENT OF ELECTRIC EXPENSE. Tenant shall pay for a portion of the
electric energy consumed within the Premises (the "Electric Expense") subject to
the provisions of this Section 5.04. During the first Lease Year Tenant shall
pay to Landlord, monthly in advance, an Electric Expense at the per annum rate
of $2.25 per rentable square foot of the Premises. During the remainder of the
term of this Lease, Tenant shall pay to Landlord an annual Electric Expense
equal to the sum of (x) $2.25 per rentable square feet plus a portion of the
increase of the actual per rentable square foot electric expense calculated as
follows: The actual per rentable square foot electrical expense for the first
Lease Year shall be subtracted from the actual per rentable square foot
electrical expense for the second Lease Year. The resulting number shall be
multiplied by a fraction, the numerator of which is the said result and the
denominator is the actual per rentable square foot electrical expense for the
first Lease Year. This same calculation shall be made from year to year.

For example, if the actual per rentable square foot electrical expense for the
first Lease Year is $3.00, and the actual per rentable square foot electrical
expense for the second Lease Year is $3.10, the Tenant would owe a per rentable
square foot electric expense for the second Lease Year of $2.25 plus an amount
equal to $3.10 - 3.00 = .10, with the resulting figure of .10 being multiplied
by the quotient of .10/3.00 or 0.033, which equals 3.3 cents, for a total per
rentable square footage electrical payment in the second year of $2.25 plus
3.3cents or $2.28.3. This same calculation would be applied in subsequent years
by substituting Lease Year two for Year one and Lease Year three for Lease Year
two and so on.

The Electric Expense payable in respect of the Premises shall constitute
Additional Rent under this Lease (but shall not be included as an Operating
Expense), and shall be due and payable quarterly in arrears beginning on the
Commencement Date and continuing on the first day of each calendar month during
the Term.

         5.05 LANDLORD'S STATEMENTS AND TENANT'S INSPECTION RIGHTS.

            (a) Landlord's Statements shall be rendered to Tenant, but
Landlord's failure to render Landlord's Statement with respect to the Base
Expense Year, any Expense Year or any Tax Year or Landlord's delay in rendering
said Statement beyond a date specified herein shall not prejudice Landlord's
right to render a Landlord's Statement with respect to that or any subsequent
Expense Year or Tax Year. The obligations of Landlord and Tenant under the
provisions of this Article with respect to any Additional Rent incurred during
the Term shall survive the expiration or any sooner termination of the Term. If
Landlord fails to give Tenant a statement of projected Operating Expenses prior
to the commencement of any Expense Year, Tenant shall continue to pay Operating
Expenses in accordance with the previous statement, until Tenant receives a new
statement from Landlord.

            (b) During the thirty (30) day period after receipt of any
Landlord's Statement (the "REVIEW PERIOD"), Tenant may inspect and audit
Landlord's records relevant to the cost and expense items reflected in such
Landlord's Statement at a reasonable time mutually agreeable to Landlord and
Tenant during Landlord's usual business hours. In the absence of recklessness or
fraud, each Landlord's Statement shall be conclusive and binding upon Tenant
unless within thirty (30) days after receipt of such Landlord's Statement Tenant
shall notify Landlord that it disputes the correctness of Landlord's Statement,
specifying the respects in which Landlord's Statement is claimed to be
incorrect. If, after such inspection, Tenant disputes the amount of its
Proportionate Share of Operating Expenses or Taxes, Tenant shall be entitled to
retain an independent company or certified public accountant reasonably
acceptable to Landlord to review Landlord's records to determine the proper
amount of such Additional Rent. If such audit or review reveals that Landlord
has overcharged Tenant, then within thirty (30) days after the results of such
audit are made available to Landlord, Landlord shall reimburse Tenant the amount
of such overcharge. If the audit reveals that Tenant was undercharged, then
within thirty (30) days after the results of the audit are made available to
Tenant, Tenant shall reimburse Landlord the amount of such undercharge. If
Landlord desires to contest such audit results, Landlord may do so by submitting
the results of the audit to arbitration pursuant to Section 13.06 of the Lease
within thirty (30) days of receipt of the results of the audit, and the
arbitration shall be final and binding upon Landlord and Tenant. Tenant agrees
to pay the cost of such audit, however, should the audit determine that the
applicable Landlord's statement overcharged the Tenant by 15% or more, Landlord
shall pay all of Tenant's reasonable expenses, including accountant's and
attorney's fees, incurred in connection with the audit. Pending the
determination of such dispute as hereinafter provided, Tenant shall pay
Additional Rent in accordance with the applicable Landlord's Statement, and such
payment shall be without prejudice to Tenant's position. All inspections and
audits of Landlord's books and records and any arbitration shall be subject to a
confidentiality agreement reasonably acceptable to Landlord.

         5.06 ADDITIONAL RENT ADJUSTMENTS. If the Term shall expire on a date
other than December 31st, any Additional Rent for the Lease Year in which the
expiration date shall occur shall be apportioned (based upon the immediately
preceding 12 month period) in that percentage which the number of days in the
period from January 1st of such Lease Year to such date of expiration, both
inclusive, shall bear to the total number of days in the calendar year in which
such expiration occurs.

                                       8
<PAGE>
                       ARTICLE 6. SERVICES AND UTILITIES

         6.01 SERVICES. Landlord shall provide the following services to the
Building and Premises (subject to Tenant's reimbursement and payment obligations
therefor in accordance with the operation of Article 5 hereof):

            (a) Janitor services for the Common Areas, including garbage
removal, excluding Saturdays, Sundays and union and state and federal government
holidays (the "HOLIDAYS").

            (b) Heat and air-conditioning as required to maintain comfortable
temperature throughout the Premises (excluding specialized temperature and
humidity control for computers, printers and other equipment) daily from 8:00
a.m. to 7:00 p.m. Monday through Friday and Saturdays from 8:00 a.m. to 12:00
noon ("NORMAL BUSINESS HOURS").

            (c) Hot and cold running water for cleaning, landscaping, grounds
maintenance, fire protection, drinking, lavatory and toilet purposes drawn
through fixtures installed by Landlord or by Tenant with Landlord's written
consent. If Tenant's water use increases beyond customary office user levels,
Landlord shall have the right to install a water meter at Tenant's expense and
to charge Tenant as Additional Rent for its water consumption in the Premises in
accordance with readings from such meter.

            (d) Electric current only, in amounts required for normal lighting
by building standard lighting overhead fixtures and for Tenant's normal business
operations, including without limitation, personal computers, copiers,
facsimiles and other ordinary business, subject, however, to Landlord's approval
of Tenant's final electrical plan for the Premises (but specifically excluding
electric current surge protection).

            (e) Window washing of all windows in the Premises both inside and
out, weather permitting at intervals established by Landlord.

            (f) Maintenance of the Common Areas so that they are clean and free
from accumulations of snow, debris, filth, rubbish and garbage.

            (g) Access by Tenant to the Premises and use of designated elevator
service 24 hours per day, seven (7) days per week, 52 weeks per year, subject to
the operation of Landlord's computerized access system at the Building's
entrances and to Landlord's Rules and Regulations. Overtime HVAC and other
services shall be available as provided in Section 6.02 hereof, if applicable.

         6.02 ADDITIONAL SERVICES. Landlord shall impose reasonable charges and
may establish reasonable rules and regulations for the following: (a) the use of
any heating, air-conditioning, ventilation, electric current or other utility
services or equipment by Tenant at any time other than during the hours set
forth in Section 6.01(b) above ("OVERTIME HVAC"); (b) the usage of any
additional or unusual janitorial services required because of any non-building
standard improvements in the Premises, the carelessness of Tenant, the nature of
Tenant's business (including the operation of Tenant's business other than
during the hours set forth in Section 6.01(b); and (c) the removal of any refuse
and rubbish left outside the Building or in the Common Areas. The expense
charged by Landlord to Tenant for any Overtime HVAC shall be based on Landlord's
actual cost for such utility services as charged to Landlord by the utility
companies providing such services over and above the cost to Landlord for the
usual Building temperature maintained by Landlord after Normal Business Hours
This amount shall constitute Additional Rent and shall be payable in accordance
with Section 4.04.

         6.03 EXCESSIVE CURRENT. Tenant shall comply with the conditions of
occupancy and connected electrical load reasonably established by Landlord for
the Building and Tenant shall not use utilities or other services in excess of
the services described above in Section 6.01 or in a manner which exceeds or
interferes with any Building systems or Landlord's ability to provide services
to other tenants in the Building. To avoid possible adverse effects upon the
Building's electrical and mechanical systems, Tenant shall not, without
Landlord's prior consent in each instance (which shall not be unreasonably
withheld), connect air conditioning equipment, computers, (excluding personal
computers and printers and office copiers and facsimile machines), major
appliances (excluding coffee makers, microwave ovens and other similar food
preparation appliances) or heavy duty equipment ("HIGH USAGE EQUIPMENT") to the
Building's electrical system. Landlord may survey Tenant's use of services from
time to time. Tenant shall pay Landlord all costs arising out of any excess use
or other connection of High Usage Equipment, including the cost of all repairs
and alterations to the Building's mechanical and electrical systems (including
the installation of meters) and the cost of additional electricity made
available to Tenant, if any. Such costs shall constitute Additional Rent and
Tenant shall pay such costs pursuant to Section 4.04.

         6.04 MAINTENANCE OF COMMON AREAS. The manner in which the Common Areas
are maintained and operated and the expenditures therefor shall be at the sole
discretion of Landlord and in accordance with the standards of comparable first
class buildings in Fairfield County. Landlord reserves

                                       9
<PAGE>
the right from time to time to (a) make changes in the shape, size, location and
appearance of the land and improvements which constitute the Common Areas,
provided that Landlord shall not materially impair the Tenant's ability to
operate its business or reduce the parking allotted to Tenant below the parking
available as of the Commencement Date, except temporary impairments required by
said changes; (b) make such improvements, alterations and repairs to the Common
Areas as may be required by governmental authorities or by utility companies
servicing the Building; (c) construct, maintain and operate lighting and other
facilities on all said areas and improvements; and (d) to add or remove
improvements and facilities to or from the Common Areas. The use of the Common
Areas shall be subject to such reasonable regulations and changes therein as
Landlord shall make from time to time, including (but not by way of limitation)
the right to close from time to time, if necessary, all or any portion of the
Common Areas to such extent as may be legally sufficient, in the opinion of
Landlord's counsel, to prevent a dedication thereof or the accrual of rights of
any person or of the public therein; provided, however, Landlord shall do so at
such times and in such manner as shall minimize any disruption to Tenant to the
extent reasonably possible.

         6.05 ACCESS TO PREMISES. Landlord shall have the right to enter the
Premises without abatement of Rent at all reasonable times upon twenty-four (24)
hours prior notice to Tenant (except in emergencies when no notice shall be
required), (i) to supply any service to be provided by Landlord to Tenant
hereunder, (ii) to show the Premises to Landlord's Mortgagee and to prospective
purchasers, mortgagees and tenants, and (iii) to inspect, alter, improve or
repair the Premises and any portion of the Building. For each of the purposes
stated above in this Section 6.05, Landlord shall at all times have and retain a
key with which to unlock all of the doors in, upon and about the Premises,
excluding Tenant's vaults and safes, or special security areas (designated in
advance), and Landlord shall have the right to use any and all means that
Landlord may deem necessary or proper to open said doors in an emergency, in
order to obtain entry to any portion of the Premises. Landlord and its agents
and representatives shall have the right to enter upon the Premises for any and
all of the purposes set forth in this Article and may exercise any and all of
the foregoing rights without being deemed guilty of a forcible or unlawful entry
into, or a detainer of, the Premises, or an eviction, actual or constructive of
Tenant from the Premises, or any portion thereof, if reasonably necessary to
comply with any governmental statute, ordinance or building, fire or other code.

         6.06 INTERRUPTION OF SERVICES. There shall be no abatement of Rent and
Landlord shall not be liable in any respect whatsoever for the inadequacy,
stoppage, interruption, or discontinuance of any utility or service due to riot,
strike, labor dispute, government request or direction, breakdown, accident,
repair, or other cause. The foregoing notwithstanding, in the event of any
interruption or stoppage of any essential utility service which Landlord is
required to provide, if such interruption or stoppage is for more than five (5)
consecutive days or more than ten (10) total days in any calendar year, and is
of a nature which materially interferes with the Tenant's use of the Premises
for the conduct of its business, is not rendered necessary by the negligence or
misconduct of Tenant or any Tenant Parties, and is within Landlord's reasonable
control, then the Rent shall be abated at the rate of one (1) day for each day
of interruption and stoppage after said fifth (5th) consecutive day or tenth
(10th)after notice by Tenant to Landlord of such interruption or stoppage until
such service is restored.

                    ARTICLE 7. CONDUCT OF BUSINESS BY TENANT

         7.01 PERMITTED USE. The Premises shall be used and occupied for general
office purposes and ancillary uses related thereto including the conduct of
"focus groups". Tenant shall not use or occupy, or permit the use or occupancy
of, the Premises or any part thereof for any use other than the sole use
specifically set forth above or in any illegal manner, or in any manner that, in
Landlord's judgment, would adversely affect or interfere with any services
required to be furnished by Landlord to Tenant or to any other tenant or
occupant of the Building, or with the proper and economical rendition of any
such service, or with the use and enjoyment of any part of the Building by any
other tenant or occupant. Tenant agrees that it will not exceed the maximum
floor bearing capacity for the Premises.

         7.02 COMPLIANCE WITH LAWS.

            (a) Tenant, at Tenant's expense, shall comply promptly with the
      laws, ordinances, rules, regulations and orders of all governmental
      authorities in effect from time to time during the Term that shall impose
      any duty on Tenant with respect to the Premises or the use, occupancy and
      operation thereof, including, without limitation, the Americans with
      Disabilities Act ("ADA"), and all applicable zoning, fire and health
      codes. Tenant will obtain and maintain in full force and effect any and
      all licenses and permits necessary for its use. Tenant shall make any
      Alterations in or to the Premises in order to comply with the foregoing,
      which are necessitated or occasioned, in whole or in part by the use or
      occupancy or manner of use, occupancy or operation of the Premises by
      Tenant or any of its officers, employees, agents, contractors, invitees,
      licensees or subtenants (the "TENANT PARTIES").

                                       10
<PAGE>
            (b) Landlord shall comply with all laws, ordinances, rules,
      regulations and orders of all governmental authorities in effect from time
      to time during the Term that shall impose any duty on Landlord with
      respect to the Common Areas of the Building, and excluding any matters
      that arise from the acts or omissions of Tenant or other tenants of the
      Building or that are Tenant's responsibility under this Lease or the
      responsibility of other tenants of the Building. The Leasehold
      Improvements designed and constructed by Landlord will conform upon
      completion to all applicable legal requirements, including, without
      limitation, the requirements of Title III of the ADA. Notwithstanding
      anything to the contrary contained herein, Tenant shall be responsible for
      legal compliance, including the requirements of the ADA, with respect to
      (i) any and all requirements on account of Tenant's use of or operations
      in the Premises, and (ii) all Alterations designed or constructed by
      Tenant or its contractors or agents.

         7.03 LANDLORD'S RULES AND REGULATIONS. Tenant shall faithfully observe
and comply with the rules and regulations attached to this Lease as Exhibit C,
and all reasonable modifications thereof and additions thereto from time to time
put into effect by Landlord (the "RULES AND REGULATIONS"). Tenant shall not use
or permit the use of the Premises in any manner that will tend to create waste
or a nuisance, or which shall tend to unreasonably disturb other tenants of the
Building. Landlord shall not be responsible to Tenant for the nonperformance of
any of the Rules and Regulations by any other tenants or occupants on the
Building. Landlord shall use reasonable efforts to enforce the Rules and
Regulations in a fair and non-discriminatory manner. In the event of an express
and direct conflict between the terms, covenants, agreements and conditions of
this Lease and the terms, covenants, agreements and conditions of such rules and
regulations, as modified and amended from time to time by Landlord, this Lease
shall control.

         7.04 NO LIENS. Tenant shall keep the Premises and Project free from any
liens or encumbrances arising out of any work performed, material furnished or
obligations incurred by or for Tenant or any person or entity claiming through
or under Tenant. Prior to Tenant performing any construction or other work on or
about the Premises for which a lien could be filed against the Premises or the
Project, Tenant shall obtain satisfactory lien waiver agreements with each
contractor who is to perform such work or furnish any material. Any claim to, or
lien upon, the Premises or the Building arising from any act or omission of
Tenant shall accrue only against the leasehold estate of Tenant and shall be
subject and subordinate to the paramount title and rights of Landlord in and to
the Premises and the Project. If any mechanics' or other lien shall be filed
against the Premises or the Project purporting to be for labor or material
furnished or to be furnished at the request of the Tenant, then Tenant shall at
its expense cause such lien to be discharged of record by payment, bond or
otherwise, within thirty (30) days after the filing thereof, or shall within
thirty (30) days after filing commence an action in the Superior Court to have
the Lien discharged and diligently prosecute said action.

         7.05 HAZARDOUS SUBSTANCES.

            (a) Tenant shall not generate, store (except for small quantities of
substances ordinarily stored and used in connection with general office use if
stored, used and disposed of, in accordance with all laws relating thereto),
dispose of or release, or permit the storage, use, disposal or release of, any
"HAZARDOUS SUBSTANCES" (as hereinafter defined), in, above, on or under the
Premises or the Project. Tenant shall remove, clean-up and remedy any Hazardous
Substance on the Premises or in accordance with applicable law, provided that
the presence of such Hazardous Substance resulted from the action or inaction of
Tenant, or any Tenant Parties and Tenant shall be obligated to continue to pay
Rent hereunder until such removal, clean-up or remedy is completed in accordance
with applicable laws, whether or not the Term shall terminate or expire.

            (b) Tenant shall not take or permit any action that would cause the
Premises or Project to become an "establishment" (as defined in the Connecticut
Transfer Act, C.G.S. Section 22a-134). Tenant hereby grants LandloRd the right
to inspect the Premises on not less than twenty-four (24) hours notice to Tenant
(except in the event of an emergency in which case Landlord will use reasonable
efforts commensurate with the nature of the emergency condition to give Tenant
prior notice) throughout the Term, to determine that Tenant is in compliance
with applicable laws and Tenant agrees to provide Landlord with all information
necessary to ascertain that Tenant is in compliance with applicable laws. Tenant
shall cooperate with Landlord in satisfying any legal requirements imposed upon
Landlord relating to Tenant's operations, and, upon Landlord's written request,
shall furnish complete information to Landlord with regard to its operations. In
connection with any transfer of the Premises or Project, Tenant shall comply
with the Connecticut Transfer Act and any other applicable laws relative to its
operations.

            (c) "Hazardous Substances" shall mean any petroleum, petroleum
products, fuel oil, waste oil, explosives, reactive materials, ignitable
materials, corrosive materials, hazardous chemicals, hazardous wastes, hazardous
substances, extremely hazardous substances, toxic substances, toxic chemicals,
radioactive materials, medical waste, pollutants, herbicides, fungicides,
rodenticides, insecticides, contaminant, or pesticides and including, but not
limited to any other element, compound,

                                       11
<PAGE>
mixture, solution or substance which may pose a present or potential hazard to
human health or the environment. Tenant shall comply with all laws applicable to
the generation, storage, use, disposal or release of Hazardous Substances,
including but not limited to, obtaining and maintaining any permits from, or
making any filings or registrations with, by any governmental authority as
required under any applicable law.

            (d) Tenant shall indemnify, defend with counsel reasonably
acceptable to Landlord, and hold Landlord fully harmless and any mortgagee of
the Project, from and against any and all liability, loss, suits, claims,
actions, causes of action, remediation orders, proceedings, demands, costs,
penalties, damages, fines and expenses, including, without limitation,
attorneys' fees, consultants' fees, laboratory fees and clean-up costs, and the
costs and expenses of investigating and defending any claims or proceedings,
resulting from, or attributable to, (i) the presence of any Hazardous Substance
on the Premises or the Project arising from the action, inaction or negligence
of Tenant, its officers, employees, contractors, agents, subtenants or invitees,
or arising out the generation, storage, treatment, handling, transportation,
disposal or release by Tenant of any Hazardous Substance at or near the Premises
or the Project, and (ii) any violation(s) by Tenant of any applicable law
regarding Hazardous Substances, and (iii) default of any of its agreements under
Section 7.05 of this Lease.

         7.06 TENANT'S FAILURE TO MAINTAIN. If Landlord gives Tenant written
notice of the necessity of any repairs or replacements required to be made under
Section 8.02 and Tenant fails to commence diligently to cure the same within
thirty (30) days thereafter (except that no notice will be required in case of
any emergency repair or replacement necessary to prevent substantial damage or
deterioration), Landlord, at its option and in addition to any other remedies,
may proceed to make such repairs or replacements and the expenses incurred by
Landlord in connection therewith plus 10% thereof for Landlord's supervision,
shall be due and payable from Tenant in accordance with Section 4.04 hereof, as
Additional Rent; provided, that Landlord's making any such repairs or
replacements shall not be deemed a waiver of Tenant's default in failing to make
the same.

         7.07 SURRENDER. Upon the expiration or sooner termination of the Term,
Tenant will quietly and peacefully surrender to Landlord the Premises in as good
condition as when Tenant took possession, ordinary wear and tear excepted, and
otherwise as is required in Article 8. In addition, at such time Tenant shall
remove all Hazardous Substances stored, or disposed of, or generated by Tenant
in its use or operation of the Premises and all equipment and materials
contaminated or affected by such Hazardous Substances in conformity with the
Hazardous Substance laws. Tenant shall surrender the Premises to Landlord at the
end of the Term hereof, without notice of any kind, and Tenant waives all right
to any such notice as may be provided under any laws now or hereafter in effect
in Connecticut.

                ARTICLE 8. ALTERATIONS, IMPROVEMENTS AND SIGNAGE

         8.01 LANDLORD'S OBLIGATIONS. Landlord will maintain all structural
components of the Building, including, without limitation, the roof, foundation,
exterior and load-bearing walls (including exterior windows and doors), the
structural floor slabs and all other structural elements of the Premises, as
well as the Common Areas of the Building, in good repair, reasonable wear and
use, casualty and condemnation excepted. Maintenance and repair expenses caused
by Tenant's willful misconduct or negligent acts or omissions shall be paid
directly to Landlord by Tenant in accordance with Section 4.04, and shall not
constitute an Operating Expense. Landlord shall not be liable for and there
shall be no abatement of Rent with respect to any injury to or interference with
Tenant's business arising from any repairs, maintenance, alteration or
improvement in or to any portion of the Project, including the Premises, or in
or to the fixtures, appurtenances and equipment therein unless caused by the
negligent or intentional acts or omissions of the Landlord, the Landlord Parties
or their respective contractors, agents, servants and employees.

            (A) TENANT'S OBLIGATIONS. Tenant shall take good care of the
Premises, and at Tenant's cost and expense, shall make all repairs and
replacements necessary to preserve the Premises in good working order and in a
clean, safe and sanitary condition, and will suffer no waste. Interior cleaning
of the Premises shall be contracted and paid for by Tenant. Tenant shall
maintain, at its own expense, in good order, condition and repair to Landlord's
reasonable satisfaction, all plumbing facilities and electrical fixtures and
devices (including replacement of all lamps, starters and ballasts) located
within the Premises. Tenant shall repair, at its cost, all deteriorations or
damages to the Project occasioned by its negligent acts or omissions or willful
misconduct. If Tenant does not make such repairs to the Building within thirty
(30) days following notice from Landlord, Landlord may, but need not, make such
repairs, and Tenant shall pay the cost thereof as provided in Section 7.06
hereof. All repairs and replacements made by or on behalf of Tenant shall be
made and performed in accordance with the "Construction Standards" (as defined
in Section 8.03).

         8.02 TENANT'S ALTERATIONS.

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<PAGE>
            (a) Tenant shall not make or permit any improvements, installations,
alterations or additions ("ALTERATIONS") in or to the Premises, the Building or
the Project; provided, however, Tenant may, with Landlord's advance written
consent, which consent shall not be unreasonably withheld, make Alterations to
the Premises that do not involve or affect either structural portions of the
Premises or the Building or any of the Building's HVAC, mechanical, electrical,
plumbing or other systems or equipment (the "BUILDING SYSTEMS"). At the
expiration of the Term, Landlord may require the removal of any or all of said
Alterations and the restoration of the Premises and the Project to their prior
condition, at Tenant's expense in accordance with Section 8.05.

            (b) All Alterations permitted by Landlord and made by or on behalf
of Tenant shall be made and performed: (a) at Tenant's cost and expense and at
such time and in such manner as Landlord may reasonably designate, (b) by
contractors or mechanics approved by Landlord, who shall carry liability
insurance of a type and in such amounts as Landlord shall reasonably require,
naming Landlord and Tenant as additional insureds, (c) in a good and workmanlike
manner, (d) so that same shall be at least equal in quality, value, and utility
to the original work or installation, (e) in accordance with the Rules and
Regulations for the Building adopted by Landlord from time to time and in
accordance with all applicable Laws, and (f) pursuant to plans, drawings and
specifications ("TENANT'S PLANS") which have been reviewed and approved by
Landlord prior to the commencement of the repairs or replacements and approved
by, and filed with, all applicable governmental authorities, and subject to all
other terms and conditions of this Lease, including, but not limited to, Section
7.05 (collectively the "CONSTRUCTION STANDARDS"). All Alterations made by Tenant
shall become, upon installation, the property of Landlord and remain upon and be
surrendered with the Premises at the expiration of the Lease term, unless
Landlord requires their removal pursuant to Section 8.03(a). Landlord agrees not
to unreasonably withhold any approvals requested under this Section 8.03(b).
Landlord agrees to review all Tenant's Plans and provide written notice of its
approval within 10 business days of receipt, or such Plans will be deemed
approved.

         8.03 TENANT'S PROPERTY. Any trade fixtures, furnishings, equipment and
personal property placed in the Premises that are removable without damage to
the Building or the Premises, whether the property of Tenant or leased by
Tenant, are herein sometimes called "TENANT'S PROPERTY". Any of Tenant's
Property remaining on the Premises at the expiration of the Term shall be
removed by Tenant at Tenant's cost and expense, and Tenant shall, at its cost
and expense, repair any damage to the Premises or the Building caused by such
removal. Any of Tenant's Property not removed from the Premises prior to the
Expiration Date shall, at Landlord's option, become the property of Landlord or
Landlord may remove such Tenant's Property, and Tenant shall pay to Landlord,
Landlord's cost of removal and of any repairs in connection therewith in
accordance with Section 4.04(b) hereof.

         8.04 OWNERSHIP AND REMOVAL. All appurtenances, additions, fixtures and
improvements attached to or installed in or upon the Premises, whether placed
there by Tenant or by Landlord, shall be Landlord's property and shall remain
upon the Premises at the termination of this Lease by lapse of time or otherwise
without compensation or allowance or credit to Tenant. Landlord may require, in
its discretion, the removal by Tenant of any Tenant's Property or Alterations
which have been attached to or installed in the Premises (excluding the initial
Leasehold Improvements) unless Landlord consents to a written request from
Tenant at the time of its approval of the Tenant's Plans that an installation
need not be so removed. On or before the Expiration Date, or the sooner date of
termination of this Lease, Tenant shall pay to Landlord the cost of repairs of
any damage to the Premises or Building and losses caused by the removal of such
property.

         8.05 SIGNAGE. Landlord shall provide building standard signage
identifying Tenant by name on the Building multi-tenant signage in the main
Building lobby directory and will also provide building standard entry signage
at the main entry to the Premises Subject to local zoning regulations, Tenant
shall have the right to Tenant specific signage on the exterior Building subject
to Landlord's prior written approval (which shall not be unreasonably withheld
or delayed). Except as set forth above, Tenant has no right to any Tenant
signage, monuments, graphics or advertising on the exterior of the Premises or
any other location in or at the Project. Landlord shall have the absolute and
exclusive right to approve or disapprove the content, design, size and location
of any and all proposed Tenant signage and monuments proposed to be erected
and/or maintained at the Premises or Project.

                              ARTICLE 9. INSURANCE

         9.01 TENANT'S INSURANCE. Tenant, at its own expense, shall provide and
keep in force with companies acceptable to Landlord during the Term: (a)
comprehensive general liability insurance insuring against liability for bodily
injury and property damage, including contractual liability, in the amount of
$6,000,000 maximum combined single limit; (b) "Special Form" property insurance,
including standard fire and extended coverage insurance, in amounts necessary to
provide replacement cost coverage, for Tenant's Property, trade fixtures,
machinery, equipment, furniture, furnishings and any Alterations in which Tenant
has an insurable property interest, including, without limitation, vandalism and
malicious mischief and sprinkler leakage coverage, and "all risk" Builder's Risk
insurance, completed value, non-

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<PAGE>
reporting form at any time that Tenant has commenced construction of any
leasehold improvements or any Alterations, and at any time any other
construction activities are underway at the Premises; (c) plate glass insurance
for the Premises; (d) Workers' Compensation Insurance in statutory limits as
required by applicable law; and (e) any other insurance reasonably required by
Landlord.

         9.02 DELIVERY OF POLICIES. The aforesaid insurance shall be provided by
companies and in form, substance and amounts (where not above stated)
satisfactory to Landlord and to Landlord's Mortgagee by companies rated A-/VII
or better by A.M. Best Company. Such insurance shall name Landlord as an
additional insured, shall specifically include the liability assumed hereunder
by Tenant (provided that the amount of such insurance shall not be construed to
limit the liability of Tenant hereunder), and shall provide that it is primary
insurance, and not excess over or contributory with any other valid, existing
and applicable insurance in force for or on behalf of Landlord, and shall
provide that Landlord shall receive thirty (30) days' written notice from the
insurer prior to any cancellation or change of coverage. With respect to
Tenant's comprehensive general liability insurance, Landlord shall be named as
an additional insured with respect to its liability relative to this Lease and
the Building. Tenant shall deliver policies of such insurance or certificates
thereof to Landlord on or before the Commencement Date, and thereafter at least
thirty (30) days before the expiration dates of expiring policies; and, in the
event Tenant shall fail to procure such insurance, or to deliver such policies
or certificates, Landlord may, at its option, procure same for the account of
Tenant, and the cost thereof shall be paid to Landlord as Additional Rent within
five (5) days after delivery to Tenant of bills therefor. Tenant's compliance
with the provisions of this Article 9 shall in no way limit Tenant's liability
under any of the other provisions of this Lease.

         9.03 INCREASED INSURANCE RISK. Tenant shall not do or permit anything
to be done, or keep or permit anything to be kept in the Premises, which would:
(a) be in violation of any governmental law, regulation or requirement, (b)
invalidate or be in conflict with the provision of any fire or other insurance
policies covering the Building or any property located therein, (c) result in a
refusal by fire insurance companies of good standing to insure the Building or
any such property in amounts required by Landlord's Mortgagee (as hereinafter
defined) or reasonably satisfactory to Landlord, (d) subject Landlord to any
liability or responsibility for injury to any person or property by reason of
any business operation being conducted in the Premises, or (e) cause any
increase in the fire insurance rates applicable to the Project or property
located therein at the beginning of the Term or at any time thereafter. Tenant,
at Tenant's expense, shall comply with all rules, orders, regulations or
requirements of the American Insurance Association (formerly the National Board
of Fire Underwriters) and with any similar body that shall hereafter perform the
function of such Association. In the event that any use of the Premises by
Tenant increases such cost of insurance, Landlord shall give Tenant written
notice of such increase and a reasonable opportunity to cure its use to prevent
such increase; provided, however, if Tenant fails to do so, Tenant shall pay
such increased cost to Landlord in accordance with Section 4.04 hereof.
Acceptance of such payment shall not be construed as consent by Landlord to
Tenant's such use or limit Landlord's remedies under this Lease.

         9.04 CROSS-INDEMNIFICATION.

            (a) Tenant agrees to protect, indemnify and save harmless Landlord,
from and against any and all loss, cost, liability, damage and expense
including, without limitation, claims, demands, penalties, causes of action,
costs and expenses and attorneys' fees imposed upon and incurred by or asserted
against Landlord from any cause in, on, or about the Premises, including,
without limitation, those relating to the following: (i) Tenant's default in its
observance or performance of any of the terms, covenants or conditions of this
Lease, (ii) the use or occupancy or manner of use or occupancy of the Premises
by Tenant or of any Tenant Parties, (iii) any acts, omissions or negligence of
Tenant or any Tenant Parties, in, on or about the Premises or the Project,
either prior to, during, or after the expiration of, the Term including, without
limitation, any acts, omissions or negligence in the making or performing of any
Alterations in or to the Premises, or (iv) for personal injury, including
without limitation, bodily injury, death or property damage, occasioned by any
use, occupancy, condition, occurrence, omission or negligence referred to in the
preceding clauses. In case any action, suit or proceeding is brought against
Landlord by reason of any such occurrence, Tenant will, at Tenant's expense,
resist and defend such action, suit or proceeding or cause the same to be
resisted or defended by counsel reasonably approved by Landlord.

            (b) Landlord agrees to protect, indemnify and save harmless Tenant
from and against any and all loss, cost, liability, damage and expense
including, without limitation, claims, demands, penalties, causes of action,
costs and expenses and attorneys' fees imposed upon and incurred by or asserted
against Tenant that result from the conduct of Landlord or its employees, agents
or contractors (the "LANDLORD PARTIES") at, on or about the Project, including,
without limitation, those relating to the following: (a) for personal injury,
death or property damage arising from the negligence or willful misconduct of
Landlord or any Landlord Parties, (b) Landlord's default in its observance or
performance of any of the terms, covenants or conditions of this Lease or (c)
any acts, omissions or negligence of Landlord or any Landlord Parties, in, on or
about the Premises or the Project, either prior to, during, or

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<PAGE>
after the expiration of, the Term including, without limitation, any acts,
omissions or negligence in the construction of the Base Building Improvements,
the Leasehold Improvement or the making or performing of any repairs or capital
improvements in or to the Premises or the Project. In case any action, suit or
proceeding is brought against Tenant by reason of any such occurrence, Landlord
will, at Landlord's expense, resist and defend such action, suit or proceeding
or cause the same to be resisted or defended by counsel reasonably approved by
Tenant.

         9.05 LIMITATION ON LANDLORD'S LIABILITY. Landlord shall not be
responsible or liable to Tenant for any loss or damage to Tenant, or its
business (including any loss of income therefrom) or its property occasioned by
or through the acts or omissions of persons occupying adjoining premises or any
part of the premises adjacent to or connected with the Premises or any part of
the Project, or for any loss or damage resulting to Tenant, or its business
(including any loss of income therefrom), or its property from smoke, fire,
electricity, steam, gas, vapor, water or rain, or other airborne contaminants,
or from the breakage, leakage, obstruction or other defects of pipes, wires,
appliances, plumbing, heating, air-conditioning or lighting fixtures, or from
any other cause, whether the said damage or injury results from conditions
arising from or upon Premises or upon other portions of the Project, or from
other sources or places, including theft, except to the extent that any such
damage or loss is occasioned by the intentional or negligent act or omission of
the Landlord or any Landlord Parties.

         9.06 WAIVER OF CLAIMS.

            (a) Landlord and Tenant hereby agree and hereby waive any and all
rights of recovery against each other for loss or damage occurring to the
Premises or the Project or any of Landlord's or Tenant's Property contained
therein regardless of the cause of such loss or damage to the extent that the
loss or damage is covered by the injured party's insurance or the insurance the
injured party is required to carry under this Lease, whichever is greater
(without regard to any deductible provision in any policy). This waiver does not
apply to claims caused by a party's willful misconduct. This waiver also applies
to each party's directors, officers, employees, shareholders, and agents.

            (b) Each party will assure that its insurance permits waiver of
liability and contains a waiver of subrogation. Each party shall secure an
appropriate clause in, or an endorsement to, each insurance policy obtained by
or required to be obtained by Landlord or Tenant, as the case may be, under this
Lease, pursuant to which the insurance company: (i) waives any right of
subrogation against Landlord or Tenant as the same may be applicable, or (ii)
permits Landlord or Tenant, prior to any loss to agree to waive any claim it
might have against the other without invalidating the coverage under the
insurance policy. If, at any time, the insurance carrier of either party refuses
to write (and no other insurance carrier licensed in Connecticut will write)
insurance policies which consent to or permit such release of liability, then
such party shall notify the other party and upon the giving of such notice, this
Section shall be void and of no effect.

         9.07 LANDLORD'S INSURANCE. Landlord shall maintain and keep in effect
during the entire Term the following insurance coverage (together with such
other coverages as Landlord may reasonably elect to carry for the benefit of the
Project):

            (a) Standard Commercial General Liability Insurance with a Broad
Form Comprehensive General Liability endorsement. The limits of liability of
such insurance shall be an amount not less than $6,000,000 per occurrence,
bodily injury including death, and $3,000,000 per occurrence, property damage
liability or $6,000,000 combined single limit for bodily injury and property
damage liability;

            (b) "Special Form" fire and extended coverage insurance on the
Project insuring the guaranteed replacement value thereof, excluding Tenant's
Property and Tenant's Alterations. The insurance shall include, but not be
limited to, fire and extended coverage perils and shall be placed with companies
licensed to sell insurance in Connecticut.

                              ARTICLE 10. CASUALTY

         10.01 DAMAGE OR DESTRUCTION. Tenant shall give prompt notice to
Landlord of any damage by fire or other casualty to the Premises or any portion
thereof. In the event that the Premises, or any part thereof, or access thereto,
shall be so damaged or destroyed by fire or other insured casualty (a
"CASUALTY") that the Tenant shall not have reasonably convenient access to the
Premises or any portion of the Premises shall thereby be otherwise rendered
unfit for use and occupancy by the Tenant for the purposes set forth in Section
7.01, and if in the judgment of the Landlord the damage or destruction may be
repaired within one hundred and eighty (180) days with available insurance
proceeds, then the Landlord shall so notify the Tenant within sixty (60) days
after the occurrence of the damage or destruction (the "NOTICE PERIOD") and
shall repair such damage or destruction (except damage or destruction to
Tenant's Property or Tenant's Alterations) with reasonable diligence. In the
event that the Landlord shall not complete such repairs within one hundred and
eighty (180) days after the elapse of the

                                       15
<PAGE>
Notice Period, then the Tenant shall have the right to terminate the term of
this lease by giving written notice of such termination to the Landlord within
twenty (20) days after the end of such one hundred and eighty (180) day period;
provided, however, that in the event that the completion of repairs shall be
delayed by causes beyond the Landlord's control, including those events
described in Section 16.11 hereof, the time for completion shall be extended by
the period of such delay. If in the judgment of the Landlord the Premises, or
means of access thereto, cannot be repaired within one hundred and eighty twenty
(180) days after the elapse of the Notice Period with available insurance
proceeds and the Landlord does not deliver the Tenant notice of its decision to
repair such damage within sixty (60) days after the occurrence of the Casualty,
then either party shall have the right to terminate the term of this Lease by
giving written notice of such termination to the other party within the period
of sixty (60) to seventy-five (75) days after the occurrence of the Casualty.

         10.02 ABATEMENT OF RENT. Annual Base Rent and Additional Rent shall not
be abated or suspended if, following any Casualty, Tenant shall continue to have
reasonably convenient access to the entire Premises and no portion of the
Premises are rendered unfit for use and occupancy. If Tenant shall not have
reasonably convenient access to the entire Premises or any portion of the
Premises shall be otherwise rendered unfit for use and occupancy by the Tenant
for the purposes set forth in Section 7.01 by reason of such Casualty, then Rent
shall be equitably suspended or abated relative to the portion of the Premises
that cannot be used by Tenant for any of its business operations, effective as
of the date of the Casualty until Landlord has (i) substantially completed the
repair of the Premises and the means of access thereto, and (ii) has delivered
notice thereof to Tenant. If such damage or destruction was caused by the
negligence or willful act or omission of the Tenant or any of its officers,
employees, contractors, agents or invitees, then there shall be no abatement of
Rent; an election by Landlord to carry rental loss insurance shall not affect
the provisions of this Article 10.

         10.03 EVENTS OF TERMINATION. In addition to the foregoing termination
rights provided in Section 10.01 hereof, in the event of a Casualty, the
following termination rights shall apply:

            (a) If more than 25% of the gross rentable area of the Premises
shall be wholly or substantially damaged or destroyed by Casualty at any time
during the last six (6) months of the Term, either Landlord or Tenant may
terminate this Lease by delivery of written notice of such termination to the
other party within thirty (30) days after the occurrence of such damage.

            (b) Notwithstanding the provisions of this Article 10, if, prior to
or during the Term the Building shall be so damaged by Casualty that, in
Landlord's reasonable estimate, the cost to repair the damage will be more than
25% of the replacement value of the Building immediately prior to the occurrence
of the Casualty (whether or not the Premises shall have been damaged or rendered
untenantable), then, in any of such events, Landlord, at Landlord's option, and
with the written consent of Landlord's Mortgagee, may give to Tenant, within
ninety (90) days after such Casualty, a thirty (30) days' notice of the
termination of this Lease and, in the event such notice is given, this Lease and
the term shall terminate upon the expiration of such thirty (30) days with the
same effect as if such date were the Expiration Date; and the Rent shall be
apportioned as of such date and any prepaid portion of Rent for any period after
such date shall be refunded by Landlord to Tenant within thirty (30) days
following the Expiration Date. In the event that Landlord chooses to terminate
the Lease pursuant to this Section 10.03 it shall pay to Tenant an amount equal
to the Unamortized Cost of the Tenant's Leasehold Improvements, less any amounts
received by Tenant on account of insurance covering the same and less the amount
of payments made by Landlord in accordance with Section 3.10(b). For the
purposes of this Section the term Unamortized Cost shall mean Costs incurred by
the Tenant, amortized on a nine year schedule beginning on the Commencement Date
and assuming equal monthly payments of principal and interest, with interest at
a rate equal to one percent (1%) over the prime rate of Citibank, N.A. on the
Commencement Date. The Term "Costs" shall mean and refer to all actual
expenditures of the Tenant, for its Leasehold Improvements.

         10.04 INSURANCE PROCEEDS UPON TERMINATION. If this Lease is terminated
pursuant to any right granted or reserved to Landlord under this Section, all
insurance proceeds payable with respect to the damage giving rise to such right
of termination shall be paid to Landlord, and Tenant shall have no claim
therefor. No damages, compensation or claim shall be payable by the Landlord to
Tenant, or any other person, by reason of inconvenience, loss of business or
annoyance arising from any damage or destruction, or any repair thereof, as is
referred to in this Article 10.

         10.05 SCOPE OF LANDLORD'S REPAIRS. In the event Landlord elects or
shall be obligated to repair or restore any damage or destruction as aforesaid,
the scope of work shall be limited to the original Leasehold Improvements that
were constructed by Landlord at its expense, and Landlord shall have no
obligation to restore or replace Tenant's Property or Tenant's Alterations.

                            ARTICLE 11. CONDEMNATION

                                       16
<PAGE>

         11.01 ENTIRE CONDEMNATION. In the event that the whole of the Premises
shall be taken under the power of eminent domain, this Lease and the term and
estate hereby granted shall automatically terminate as of the earlier of the
date of the vesting of title or the date of dispossession of Tenant as a result
of such taking.

         11.02 PARTIAL CONDEMNATION.

            (a) In the event that only a part of the Premises shall be taken by
Condemnation and Tenant shall have reasonable, convenient access to and from the
Premises, the Term shall expire as to that portion of the Premises condemned
effective as of the date of the vesting of title in the condemning authority,
and this Lease shall continue in full force and effect as to the part of the
Premises not so taken.

            (b) In the event that a part of the Project shall be subject to
Condemnation (whether or not the Premises are affected), Landlord may, at its
option, terminate this Lease as of the date of such vesting of title, by
notifying Tenant in writing of such termination within ninety (90) days
following the date on which Landlord shall have received notice of the vesting
of title in the condemning authority if in Landlord's reasonable opinion: (i) a
substantial alteration or reconstruction of the Project (or any portion thereof)
shall be necessary or appropriate, or (ii) the portion of the Project so
condemned has the effect of rendering the remainder of the Project uneconomic to
maintain.

            (c) In the event that this Lease is not terminated in accordance
with subsection (b) hereof, Landlord shall, upon receipt of the award in
condemnation, make all necessary repairs or alterations to the Building in which
the Premises are located so as to constitute the remaining Premises a complete
architectural unit to the extent feasible, but Landlord shall not be required to
spend for such work an amount in excess of the amount received by Landlord as
damages for the part of the Premises so taken. "Amount received by Landlord"
shall mean that part of the award in condemnation which is free and clear to
Landlord of any collection by mortgagees and after payment of all costs involved
in collection, including but not limited to attorney's fees. Tenant, at is own
cost and expense shall, restore all exterior signs, trade fixtures, equipment,
furniture, furnishings and other installations of personalty of Tenant which are
not taken to as near its former condition as the circumstances will permit. In
the event of a partial taking, all provisions of this Lease shall remain in full
force and effect.

         11.03 TEMPORARY TAKING. If there is a taking of the Premises for
temporary use arising out of a temporary emergency or other temporary situation,
this Lease shall continue in full force and effect, and Tenant shall continue to
comply with Tenant's obligations under this Lease, except to the extent
compliance shall be rendered impossible or impracticable by reason of the
taking, and Tenant shall be entitled to the award for its interest.

         11.04 CONDEMNATION AWARDS. Except as provided in the preceding Section
11.03, Landlord shall be entitled to the entire award in any condemnation
proceeding or other proceeding for taking for public or quasi-public use,
including, without limitation, any award made for the value of the leasehold
estate created by this Lease. No award for any partial or entire taking shall be
apportioned, and Tenant hereby assigns to Landlord any award that may be made in
such condemnation or other taking, together with any and all rights of Tenant
now or hereafter arising in or to same or any part thereof; provided, however,
that nothing contained herein shall be deemed to give Landlord any interest in
or to require Tenant to assign to Landlord any award made to Tenant specifically
for its relocation expenses or the taking of Tenant's Property or the loss of
Tenant's Leasehold Improvements, provided that such award does not diminish or
reduce the amount of the award payable to Landlord.

         11.05 PRORATION. In the event of a partial condemnation or other taking
that does not result in a termination of this Lease as to the entire Premises,
then the Annual Base Rent and Tenant's Proportionate Share shall be adjusted in
proportion to that portion of the Premises taken by such condemnation or other
taking and Tenant's Proportionate Share.

                     ARTICLE 12. ASSIGNMENT AND SUBLETTING

         12.01 ASSIGNMENT AND SUBLETTING. Tenant shall not, without the prior
written consent of the Landlord, which consent shall not be unreasonably
withheld, assign, mortgage, encumber or otherwise transfer this Lease or any
interest herein directly or indirectly, by operation of law or otherwise, or
sublet the Premises or any part thereof, or permit the use or occupancy of the
Premises by any party other than Tenant (any such action, a "TRANSFER"). If at
any time or from time to time during the Term, when no Event of Default has
occurred and is continuing, Tenant desires to effect a Transfer, Tenant shall
deliver to Landlord written notice ("TRANSFER NOTICE") setting forth the terms
of the proposed Transfer and the identity of the proposed assignee, sublessee or
other transferee (each a "TRANSFEREE"). Tenant shall also deliver to Landlord
with the Transfer Notice an acceptable assumption agreement for Tenant's
obligations under this Lease together with all relevant information requested by
Landlord concerning the proposed Transferee to assist Landlord in making an
informed judgment regarding the financial responsibility,

                                       17
<PAGE>
creditworthiness, reputation, and business experience of the Transferee. Tenant
shall reimburse Landlord promptly for all reasonable out-of-pocket expenses
incurred by Landlord including reasonable attorneys' fees in connection with the
review of Tenant's request for Landlord's approval of any Transfer. The
provisions of this Section 12.01 shall apply to a transfer (by one or more
Transfers) of fifty percent (50%) or more of the interest in the stock or
partnership or membership interests or other evidences of equity interests of
Tenant as if such Transfer were an assignment of this Lease; provided that if
equity interests in Tenant at any time are or become traded on a public stock
exchange, the transfer of equity interests in Tenant on a public stock exchange
shall not be deemed an assignment within the meaning of this Section.

         12.02 LANDLORD'S OPTIONS. Landlord shall have the option, exercisable
by written notice delivered to Tenant within thirty (30) days after Landlord's
receipt of a Transfer Notice accompanied by the other information described in
Section 12.01, to: (a) permit Tenant to Transfer the Premises; or (b) disapprove
the Tenant's Transfer of the Premises and to continue the Lease in full force
and effect as to the entire Premises. (c) if the Tenant proposes to sublease
more than fifty (50%) percent of the rentable square footage, terminate the
Lease as to the portion of the Premises affected by the Transfer as of the date
set forth in Landlord's notice of exercise of such option, which date shall not
be less than thirty (30) days nor more than ninety (90) days following the
giving of such notice. If Landlord exercises its option to terminate this Lease
(or in the case of a partial sublet to release Tenant with respect to a portion
of the Premises), Tenant shall surrender possession of such Premises on the date
set forth in Landlord's notice, and thereafter neither Landlord nor Tenant shall
have any further liability with respect thereto. If this Lease shall be
terminated as to a portion of the Premises only, Rent and Tenant's parking
allocation shall be readjusted proportionately according to the ratio that the
number of square feet and the portion of the space surrendered compares to the
floor area of Tenant's Premises during the Term of the proposed sublet. The
provisions of this section shall not apply to a sublease or assignment of all or
any portion of the Premises to an entity affiliated with and under the common
control of Tenant ("Affiliated Entity").

         12.03 ADDITIONAL CONDITIONS.

            (a) Tenant shall not offer to make, or enter into negotiations with
respect to any Transfer to: (i) any tenant of the Building or Project or any
entity owned by, or under the common control of, whether directly or indirectly,
a tenant in the Building or Project unless there is no competing space then
available for leases therein; or (ii) any party with whom Landlord (or its
affiliate) is then negotiating with respect to other space in the Building or
Project unless there is no competing space then available for leases therein; or
(iii) any party which would be of such type, character, or condition as to be
inappropriate as a tenant for the Building. It shall not be unreasonable for
Landlord to disapprove any proposed assignment, sublet or transfer to any of the
foregoing entities.

            (b) If Landlord approves of the proposed Transfer pursuant to
Section 12.01 above, Tenant may enter into the proposed Transfer with such
proposed Transferee subject to the following further conditions: (i) the
Transfer shall be on the same terms set forth in the Transfer Notice, and (ii)
no Transfer shall be valid and no Transferee shall take possession of the
Premises until an executed counterpart of the assignment, sublease or other
instrument effecting the Transfer (in the form approved by Landlord) has been
delivered to Landlord pursuant to which the Transferee shall expressly assume
all of Tenant's obligations under this Lease; and (iii) Tenant shall provide
Landlord with a written ratification agreement from each guarantor of this Lease
in form and substance satisfactory to Landlord.

         12.04 NO RELEASE. No Transfer shall be effective unless approved in
writing by Landlord. Landlord's consent to a Transfer shall not release Tenant
of Tenant's obligations under this Lease and this Lease and all of the
obligations of Tenant under this Lease shall continue in full force and effect
as the obligations of a principal (and not as the obligations of a guarantor or
surety). From and after any Transfer, the Lease obligations of the Transferee
and of the original Tenant named in this Lease shall be joint and several. No
acceptance of Rent by Landlord from or recognition in any way of the occupancy
of the Premises by a Transferee shall be deemed a consent to such Transfer, or a
release of Tenant from direct and primary liability for the further performance
of Tenant's covenants hereunder. The consent by Landlord to a particular
Transfer shall not relieve Tenant from the requirement of obtaining the consent
of Landlord to any further Transfer. Each violation of any of the covenants,
agreements, terms or conditions of this Lease, whether by act or omission, by
any of Tenant's permitted Transferees, shall constitute a violation thereof by
Tenant. In the event of default by any Transferee of Tenant or any successor of
Tenant in the performance of any of the terms hereof, Landlord may proceed
directly against Tenant without the necessity of exhausting remedies against
such Transferee or successor.

         12.05 TRANSFER PROFIT. Fifty percent (50%) of any rent and other
economic consideration received by Tenant as a result of such Transfer to an
entity other than an Affiliated Entity in which case the Tenant shall keep all
excess rent, which exceeds, in the aggregate, (a) the total of the remaining
rent which Tenant is obligated to pay Landlord under this Lease (prorated to
reflect obligations allocable to any portion of the Premises subleased) plus (b)
any reasonable tenant fit-up costs, brokerage commissions and attorneys' fees
actually paid by Tenant in connection with such Transfer (specifically excluding
moving or relocation costs paid to the Transferee), shall be paid to Landlord on
a monthly basis within ten

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<PAGE>
(10) days after receipt thereof as Additional Rent under this Lease, without
affecting or reducing any other obligations of Tenant hereunder. Each such
payment shall be sent with a detailed statement. Landlord shall have the right
to audit Tenant's books and records to verify the accuracy of the detailed
statement.

                       ARTICLE 13. DEFAULTS AND REMEDIES

         13.01 EVENTS OF DEFAULT. The occurrence of any one or more of the
following events shall constitute an event of default (each an "EVENT OF
DEFAULT") hereunder:

            (a) NONPAYMENT OF ANNUAL BASE RENT OR ADDITIONAL RENT. Failure by
Tenant to pay any installment of Annual Base Rent or Additional Rent due and
payable hereunder, upon the date when said payment is due; provided, however, on
two(2) occasions only during any Lease Year, Landlord shall permit Tenant a
5-day grace period from the date when said payment is due to cure such failure.

            (b) CERTAIN OBLIGATIONS. Failure by Tenant to perform, observe or
comply with any obligation, agreement or covenant contained in Sections 7.05
("HAZARDOUS SUBSTANCES"), 8.02 ("ALTERATIONS"), Section 9.01 ("TENANT'S
INSURANCE") and Article 12 ("ASSIGNMENT AND SUBLETTING") of this Lease or
failure by Tenant to perform observe or comply with any obligation, agreement or
covenant, after the expiration of all applicable notice and cure periods,
contained in a certain Lease dated October 20, 1999 for approximately 3083
rentable square feet at the Project ____________by and between Wilton Executive
Campus Associates, as Landlord__________and Tenant ( the "Data Center Lease") or
a certain Lease dated_October 20, 1999 for approximately 20,058 rentable square
feet at the Project by and between Landlord and Tenant.

            (c) OTHER OBLIGATIONS. Failure by Tenant to perform any obligation,
agreement or covenant under this Lease other than those matters specified in
subparagraph (a) or (b) of this Section 13.01, such failure continuing for
thirty (30) days after written notice by Landlord to Tenant of such failure;
provided, however, that if the nature of Tenant's obligation is such that more
than thirty (30) days are required for performance, then Tenant shall not be in
default if Tenant commences performance within such thirty (30) day period and
thereafter diligently and continuously prosecutes the same to completion within
sixty (60) days following the date of Landlord's written notice with respect to
such failure.

            (d) ABANDONMENT. Abandonment of the Premises by Tenant for a
continuous period in excess of twenty (20) business days.

            (e) ASSIGNMENT; RECEIVERSHIP; ATTACHMENT. (i) The making by Tenant
of any arrangement or assignment for the benefit of creditors; (ii) the
appointment of a trustee or receiver to take possession of substantially all of
Tenant's assets located at the Premises or of Tenant's interest in this Lease,
where possession is not restored to Tenant within thirty (30) days; or (iii) the
attachment, execution, or other judicial seizure of substantially all of
Tenant's assets located at the Premises or of Tenant's interest in this Lease,
where such seizure is not discharged within thirty (30) days.

            (f) BANKRUPTCY. The admission by Tenant or Tenant's guarantor (if
any) in writing of its inability to pay its debts as they become due, the filing
by Tenant or Tenant's guarantor (if any) of a petition in bankruptcy seeking any
reorganization, arrangement, composition, readjustment, liquidation, dissolution
or similar relief under any present or future statute, law or regulation, the
filing by Tenant or Tenant's guarantor (if any) of an answer admitting or
failing timely to contest a material allegation of a petition filed against
Tenant or Tenant's guarantor (if any) in any such proceeding or, if within
forty-five (45) days after the commencement of any proceeding against Tenant or
Tenant's guarantor (if any) seeking any involuntary reorganization, or
arrangement, composition, readjustment, liquidation, dissolution or similar
relief under any present or future statute, law or regulation by any of Tenant's
creditors or such guarantor's creditors, such proceeding shall not have been
dismissed.

         13.02 REMEDIES. Upon the occurrence of any Events of Default by Tenant
which is not cured by Tenant within the grace periods specified in Section 13.01
hereof, if any, Landlord shall have the following rights and remedies, in
addition to all other rights or remedies available to Landlord in law or equity:

            (a) Landlord may give written notice to Tenant specifying such Event
of Default or Events of Default and stating that this Lease and the Term hereby
demised shall expire and terminate on the date specified in such notice, and
upon the date specified in such notice, this Lease and the Term hereby demised,
and all rights of Tenant under this Lease shall expire and terminate. Upon any
termination of this Lease, Tenant shall quit and peaceably surrender the
Premises, and all portions thereof, to Landlord. Following any such termination,
Landlord may, without further notice, enter the Premises, and any portions
thereof, and take possession thereof by summary proceeding, ejectment or
otherwise,

                                       19
<PAGE>
and may dispossess Tenant and remove Tenant and all other persons and property
from the Premises and Landlord shall have the right to receive all rental and
other income of and from the same.

            (b) At Landlord's election, without terminating this Lease, Landlord
may, without re-entry, recover possession of the Premises in the manner
prescribed by any statute relating to summary process, and any demand for the
Rent, re-entry for condition broken, and any and all notices to quit, or other
formalities of any nature, to which Tenant may be entitled, are hereby
specifically waived. Landlord may relet the Premises for the account of Tenant.
No such termination of Tenant's right to possess the Premises under this Section
13.02(b) shall relieve Tenant of its liabilities and obligations under this
Lease (as if such right of possession had not been so terminated or expired),
and such liabilities and obligations shall survive any such termination of
Tenant's possessory interest. In the event of any such termination of this Lease
or Tenant's right of possession, whether or not the Premises, or any portion
thereof, shall have been relet, Tenant shall pay the Landlord a sum equal to the
Rent and any other charges required to be paid by Tenant up to the time of such
termination of such right of possession and thereafter Tenant, until the end of
the Term, shall be liable to Landlord for and shall pay to Landlord: (i) the
equivalent of the amount of the Rent payable under this Lease, less (ii) the net
proceeds of any reletting effected pursuant to the provisions hereof after
deducting all of Landlord's "Reletting Expenses" (as defined in Section 13.02).
Tenant shall pay such amounts in accordance with the terms of this Section
13.02(b) as set forth in a written statement thereof from Landlord to Tenant
(hereinafter, the "DEFICIENCY") to Landlord in monthly installments on the days
on which the Annual Base Rent is payable under this Lease, and Landlord shall be
entitled to recover from Tenant each monthly installment of the Deficiency as
the same shall arise. Tenant shall also pay to Landlord upon demand the costs
incurred by Landlord in curing Tenant's defaults existing at or prior to the
date of such termination and the cost of recovering possession of the Premises.
Tenant agrees that Landlord may file suit to recover any sums that become due
under the terms of this Section from time to time, and all reasonable costs and
expenses of Landlord, including attorneys' fees and costs incurred in connection
with such suits shall be payable by Tenant on demand.

            (c) At any time after an Event of Default and termination of the
Lease by Landlord, whether or not Landlord shall have collected any monthly
Deficiency as set forth in Section 13.02(b), Landlord shall be entitled to
recover from Tenant, and Tenant shall pay to Landlord, on demand, as and for
final damages for Tenant's default and in lieu of any subsequent Deficiency (but
without limitation of the provisions of subsection (f) hereof):

                        (i) all Rent and other sums due and payable by Tenant on
            the date of termination; plus

                        (ii) the costs of curing Tenant's defaults existing at
            or prior to the date of termination; plus

                        (iii) the cost of recovering possession of the Premises
            and the Reletting Expenses; plus

                        (iv) an amount equal to the difference between the then
            present worth of the aggregate of the Rent and any other charges to
            be paid by Tenant hereunder for the then unexpired term of this
            Lease (assuming this Lease had not been so terminated), and the then
            present worth of the then aggregate fair market rent of the Premises
            for the same period (taking into account rentals received by
            Landlord under a replacement Lease of the Premises). In the
            computation of present worth, a discount at the then market discount
            rate as reasonably determined by Landlord shall be employed.

            (d) In connection with any reletting of the Premises following an
Event of Default, Landlord shall be entitled to grant such rental and economic
concessions and other incentives as may be customary for similar space in
eastern Fairfield County.

            (e) Any and all property belonging to Tenant or to which Tenant is
or may be entitled which may be removed from the Premises by Landlord pursuant
to the authority of this Lease or applicable law, may be handled, removed or
stored in a commercial warehouse or otherwise by Landlord at Tenant's risk and
expense and Landlord shall in no event be responsible for the value,
preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand,
any and all expenses incurred in such removal and all storage charges for such
property so long as the same shall be in Landlord's possession or under
Landlord's control.

            (f) Landlord shall have the right of injunction, in the event of a
breach or threatened breach by Tenant of any of the agreements, conditions,
covenants or terms hereof, to restrain the same and the right to invoke any
remedy allowed by law or in equity, whether or not other remedies, indemnity or
reimbursements are herein provided. The rights and remedies given to Landlord in
this Lease are

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<PAGE>
distinct, separate and cumulative remedies; and no one of them, whether or not
exercised by Landlord, shall be deemed exclusive of any of the others.

            (g) For purposes of this Section 13.02, "RELETTING ALTERATIONS"
shall mean all repairs, made by Landlord in or to the Premises to the extent
deemed reasonably necessary by Landlord to prepare the Premises for the
re-leasing following an Event of Default; and "RELETTING EXPENSES" shall mean
the reasonable expenses paid or incurred by Landlord in connection with any
re-leasing of the Premises following an Event of Default, including, without
limitation, marketing expenses, brokerage commissions, management fees,
attorneys' fees, the costs of Reletting Alterations, operating expenses and rent
and other economic concessions reasonable and customary in Fairfield County at
the time, provided to the new tenant.

         13.03 LANDLORD'S RIGHT TO CURE DEFAULTS. If the Tenant shall default in
the observance or performance of any condition or covenant on Tenant's part to
be observed or performed under or by virtue of any of the provisions of this
Lease, and such default continues beyond any applicable notice and cure period
or Landlord reasonably determines that an emergency exists, the Landlord,
without being under any obligation to do so and without thereby waiving such
default, may remedy such default for the account and at the expense of the
Tenant. If the Landlord makes any expenditures or incurs any obligations for the
payment of money in connection therewith, including but not limited to
reasonable attorney's fees in instituting, prosecuting or defending any action
or proceeding, such sums paid or obligation incurred and costs, shall be paid
upon demand to the Landlord by the Tenant as Additional Rent pursuant to Section
4.04 hereof and if not so paid with interest from its due date until paid at the
lesser of eighteen (18%) percent per annum or the maximum legal rate that
Landlord may charge Tenant.

         13.04 NO ACCORD AND SATISFACTION. Landlord may collect and receive any
rent due from Tenant, and the payment thereof shall not constitute a waiver of
or affect any notice or demand given, suit instituted or judgment obtained by
Landlord, or be held to waive, affect, change, modify or alter the rights or
remedies that Landlord has against Tenant in equity, at law, or by virtue of
this Lease. No receipt or acceptance by Landlord from Tenant of less than the
monthly rent herein stipulated shall be deemed to be other than a partial
payment on account for any due and unpaid stipulated rent; no endorsement or
statement on any check or any letter or other writing accompanying any check or
payment of rent to Landlord shall be deemed an accord and satisfaction, and
Landlord may accept and negotiate such check or payment without prejudice to
Landlord's rights to (i) recover the remaining balance of such unpaid rent, or
(ii) pursue any other remedy provided in this Lease.

         13.05 ARBITRATION. Any dispute arising out of or relating to Article 5
of this Lease (with respect to the issues expressly stated therein) shall be
submitted to and determined in binding arbitration under the Commercial
Arbitration Rules of the American Arbitration Association. The arbitration shall
be conducted before and by a single arbitrator selected by the parties. If the
parties have not selected an arbitrator within 30 days of written demand for
arbitration, the arbitrator shall be selected by the American Arbitration
Association pursuant to the then current rules of that Association on
application by either party. The arbitrator shall have authority to fashion such
just, equitable and legal relief as he, in his sole discretion, may determine.
The parties agree that the arbitration hearing shall be held within thirty (30)
business days following notification to the parties of the appointment of such
arbitration, and that the arbitration proceedings shall be concluded within
thirty (30) business days following the first scheduled arbitration hearing.
Each party shall bear all its own expenses of arbitration and shall bear equally
the costs and expenses of the arbitrator. All arbitration proceedings shall be
conducted in the City of Stamford, State of Connecticut. Landlord and Tenant
further agree that they will faithfully observe this agreement and rules, and
that they will abide by and perform any award rendered by the arbitrator and
that a judgment of the court having jurisdiction may be entered upon the award.
The duty to arbitrate shall survive the cancellation or termination of this
Lease. Landlord and Tenant further agree that in addition to the discovery
rights available to them under the Commercial Arbitration Rules they shall have
all rights of discovery available to litigants pursuant to the Connecticut Rules
of Court then appertaining.

         13.06 INDIRECT DAMAGES. Notwithstanding any provision of this Lease to
the contrary (except Section 2.02), none of the provisions of this Lease shall
cause either party to be liable to the other party, or anyone claiming through
or on behalf of such other party, for any special, indirect or consequential
damages, including, without limitation, lost profits or revenues.

         13.07 Waivers. TENANT HEREBY REPRESENTS, COVENANTS AND AGREES THAT IT
IS ENGAGED PRIMARILY IN COMMERCIAL PURSUITS, AND THAT THE LEASE IS A "COMMERCIAL
TRANSACTION" WITHIN THE MEANING OF SECTION 52-278a(a) OF THE CONNECTICUT GENERAL
STATUTES (REV. 1958), AS AMENDED. TENANT HEREBY WAIVES ALL RIGHTS TO NOTICE,
PRIOR JUDICIAL HEARING OR COURT ORDER UNDER SECTION 52-278a ET SEQ. OF THE
CONNECTICUT GENERAL STATUTES (REV. 1958) AS AMENDED OR UNDER ANY OTHER STATE OR
FEDERAL LAW WITH RESPECT TO ANY PREJUDGMENT REMEDIES THE LANDLORD MAY EMPLOY TO
ENFORCE ITS RIGHTS AND REMEDIES HEREUNDER.

                                       21
<PAGE>
      13.08 CLAIMS IN BANKRUPTCY. Nothing herein shall limit or prejudice the
right of Landlord to prove for and obtain in proceedings for bankruptcy or
insolvency by reason of any such termination, an amount equal to the maximum
allowed by any statute or rule of law in effect at the time when, and governing
the proceedings in which, the damages are to be proved, whether or not the
amount be greater, equal to or less than the amount of the loss or damage
referred to above. Without limiting any of the provisions of this Article 13, if
pursuant to the Bankruptcy Code, as the same may be amended, Tenant is permitted
to assign this Lease in disregard of the restrictions contained in Article 12,
Tenant agrees that adequate assurance of future performance by the assignee
permitted under the Bankruptcy Code shall mean the deposit of cash security with
Landlord in any amount equal to all Rent payable under this Lease for the
calendar year preceding the year in which such assignment is intended to become
effective, which deposit shall be held by Landlord, without interest, for the
balance of the term as security for the full and faithful performance of all of
the obligations under this Lease on the part of Tenant yet to be performed. If
Tenant receives or is to receive any valuable consideration for such an
assignment of this Lease, such consideration, after deducting therefrom (a) the
brokerage commissions, if any, and other expenses reasonably designated by the
assignee as paid for the purchase of Tenant's property in the Premises, shall be
and become the sole exclusive property of Landlord and shall be paid over to
Landlord directly by such assignee. In addition, adequate assurance shall mean
that any such assignee of this Lease shall have a net worth indicating said
assignee's reasonable ability to pay the Rent, and abide by the terms of this
Lease for the remaining portion thereof applying commercially reasonable
standards.

      ARTICLE 14. NONDISTURBANCE AND RIGHTS OF MORTGAGE HOLDERS

      14.01 SUBORDINATION.

            (a) Subject to the provisions of this Section 14.01, without the
necessity of any additional document being executed by Tenant for the purpose of
effecting a subordination, Tenant agrees that this Lease and Tenant's tenancy
hereunder are and shall be automatically subject and subordinate at all times to
(a) the lien (and the terms and conditions) of any mortgage that may now exist
or hereafter be executed in any amount for which the Site, the Building, or
Landlord's interest or estate in any of said items is specified as security; and
(b) renewals, modifications, consolidations, replacements, and extensions of any
of the foregoing. Landlord agrees to obtain from the holders of any mortgage
lien on the Site and the Building or Site (collectively, "LANDLORD'S MORTGAGEE")
a recordable instrument by which Landlord's Mortgagee shall agree not to disturb
Tenant's possession and occupancy of the Premises or join Tenant in any such
action as a party defendant so long as Tenant is not in default in the
performance or observance of any of the terms, covenants or conditions contained
in the Lease.

            (b) In the event that any such first mortgage is foreclosed or a
conveyance in lieu of foreclosure is made for any reason, Tenant shall, at the
option of Landlord's Mortgagee or the grantee or purchaser in foreclosure,
notwithstanding any subordination of any such lien to this Lease, attorn to and
become the Tenant of the successor in interest to Landlord at the option of such
successor in interest. Tenant covenants and agrees to execute and deliver,
within ten (10) days following delivery of request by Landlord, Landlord's
Mortgagee, or by Landlord's successor in interest and in the form requested by
Landlord, Landlord's Mortgagee, or by Landlord's successor in interest, any
additional documents evidencing the priority or subordination of this Lease with
respect to the lien of any such first mortgage, which additional documents shall
be satisfactory to Landlord, Landlord's Mortgagee, and Landlord's successors in
interest.

            (c) If Landlord's Mortgagee shall succeed to the interest of
Landlord under this Lease, Landlord's Mortgagee shall assume and perform
Landlord's obligations under this Lease only while it is the fee owner of the
Building and shall not be (i) liable for any breach, act or omission of any
prior landlord, including Landlord; (ii) subject to offsets, claims or defenses
which Tenant might have against prior landlords; (iii) bound by the payment of
Annual Base Rent or Additional Rent or other payment in lieu of rent which
Tenant may have paid to any prior landlord for more than thirty (30) days in
advance of its due date; (iv) bound by any assignment, surrender, termination,
waiver, lease amendment or modification of or affecting this Lease made without
its consent; or (v) bound by any of the construction obligations of Landlord
under this Lease.

      14.02 NOTICES. If Tenant is given written notice of the identity and
address of Landlord's Mortgagee, then Tenant shall give to such Landlord's
Mortgagee written notice of any default by Landlord under the terms of this
Lease by registered or certified mail, and such Landlord's Mortgagee shall be
given the opportunity to cure Landlord's default within the thirty (30) days
following such written notice; provided, however, that said thirty (30) day
period shall be extended so long as within said thirty (30) day period such
party has commenced to cure the default and such party is proceeding with due
diligence (including the exercise of its remedies against Landlord if necessary
to obtain possession of the Premises) to effect such cure.

      14.03 ESTOPPEL CERTIFICATES. Tenant shall at any time, and from time to
time, upon not less than five (5) days prior written notice from Landlord
execute, acknowledge and deliver to Landlord, to

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<PAGE>
any prospective purchaser, or Landlord's Mortgagee, a written certificate of
Tenant in form and substance reasonably satisfactory to Landlord, or Landlord's
Mortgagee stating, in part: (a) whether Tenant has accepted the Premises and the
commencement date and termination date of this Lease; (b) that this Lease is
unmodified and in full force and effect (or if there have been modifications,
that the same is in full force and effect as modified and stating the
modifications), and has not been assigned; (c) that there are not, to Tenant's
best knowledge, any uncured defaults on the part of the Landlord or Tenant
hereunder, or specifying any defaults that may exist; (d) whether or not there
are then existing any defenses against the enforcement of any of the obligations
of Tenant under this Lease (and, if so, specifying same); (e) whether Tenant has
received all required contributions from Landlord on account of Tenant's
improvements; (f) the dates, if any, to which the Annual Base Rent and
Additional Rent and other charges under this Lease have been paid and the
amounts of said Annual Base Rent and Additional Rent, and that no Annual Base
Rent, Additional Rent, or security deposit has been paid in advance of its due
date, and (g) any other information that may reasonably be required by any of
such persons. It is intended that any such certificate of Tenant delivered
pursuant to this Section 14.03 may be relied upon by Landlord and any
prospective purchaser or Landlord's Mortgagee of any part of the Building.

      14.04 QUIET ENJOYMENT. Upon Tenant paying the Annual Base Rent and
Additional Rent and performing all of Tenant's obligations under this Lease,
Tenant may peacefully and quietly enjoy the Premises during the Term as against
all persons or entities lawfully claiming by or through Landlord; subject,
however, to the provisions of this Lease and to the rights of Landlord's
Mortgagee.

                               ARTICLE 15. NOTICES

      15.01 MANNER OF NOTICE.

            (a) All notices, demands and other communications ("NOTICES")
permitted or required to be given under this Lease shall be in writing and sent
by personal service, telecopy transmission (if a copy thereof is also sent on
the same day by a nationally recognized overnight courier service), certified
mail (postage prepaid) return receipt requested or by a nationally recognized
overnight courier service, (a) to Tenant (i) at 274 Riverside Avenue, Westport,
Connecticut 06880, if sent prior to Tenant's taking possession of the Premises,
or (ii) at the Building if sent subsequent to Tenant's taking possession of the
Premises, or (iii) at any place where Tenant or any agent or employee of Tenant
may be found if sent subsequent to Tenant's vacating, abandoning or surrendering
the Premises, with a copy of all notices to be sent to Jonathan A. Flatow, Esq.,
Wake, See, Dimes & Bryniczka, 27 Imperial Ave., Westport, CT 06880 and (b) to
Landlord at P.O. Box 703, Westport, Connecticut 06881 or (c) to such other
address as either Landlord or Tenant may designate as its new address for such
purpose by notice given to the other in accordance with the provisions of this
Section 15.01.

            (b) Notices shall be deemed to have been given (i) when hand
delivered (provided that delivery shall be evidenced by a receipt executed by or
on behalf of the addressee if delivered by personal service) if personal service
is used, (ii) on the date of transmission if sent before 4:00 p.m. (Hartford
time) on a business day when telecopy transmission is used, (iii) the sooner of
the date of receipt or the date that is three (3) days after the date of mailing
thereof if sent by postage pre-paid registered or certified mail, return receipt
requested, and (iv) one (1) day after being sent by Federal Express or other
reputable overnight courier service (with delivery evidenced by written receipt)
if overnight courier service is used.

                            ARTICLE 16. MISCELLANEOUS

      16.01 BROKERS. Landlord and Tenant warrant to each other that they have
had no dealings with any broker, agent or finder in connection with this Lease
except Reliance Property Group and Cushman & Wakefield of CT. Landlord agrees to
pay the commissions due to such brokerage companies pursuant to separate
agreements. Both parties hereto agree to protect, indemnify and hold harmless
the other from and against any final judgment relating to compensation,
commissions and charges claimed by any other broker, agent or finder not
identified above with respect to this Lease or the negotiation thereof that is
made by reason of any action or agreement by such party.

      16.02 ATTORNEY'S FEES. If on account of any default by Tenant in Tenant's
obligations under the terms of this Lease, it becomes necessary or appropriate
for Landlord to employ attorneys to enforce any of Landlord's rights or remedies
hereunder, Tenant shall pay as Additional Rent hereunder all reasonable fees of
such attorneys incurred in connection with any action to enforce such rights and
remedies in which the landlord prevails and all reasonable costs so incurred. If
on account of any default by Landlord of Landlord's obligations under this
Lease, it becomes necessary or appropriate for Tenant to employ attorneys to
enforce Tenant's rights and remedies hereunder, Landlord shall pay Tenant all
reasonable attorney's fees incurred in connection with any action to enforce
such rights and remedies in which the Tenants prevails and all reasonable costs
so incurred.

                                       23
<PAGE>
      16.03 SITE DEVELOPMENT. Landlord reserves the right to design, develop and
operate an additional building and related improvements adjacent to the
Building. Landlord reserves the right to enter into agreements necessary for
shared parking and other shared amenities. Landlord shall use all reasonable
efforts to avoid disturbing or impairing Tenant's right to quite possession by
virtue of any site development reserved hereunder

      16.04 NO MERGER. There shall be no merger of this Lease or of the
leasehold estate hereby created with the fee estate in the Premises or any part
thereof by reason of the fact that the same person may acquire or hold, directly
or indirectly, this Lease or the leasehold estate hereby created or any interest
in this Lease or in such leasehold estate as well as the fee estate in the
leasehold Premises or any interest in such fee estate.

      16.05 EASEMENTS. Landlord reserves the right, from time to time, to grant
easements and rights, make dedications, agree to restrictions and record maps
affecting the Project as Landlord may deem necessary or desirable, so long as
such easements, rights, dedications, restrictions, and maps do not unreasonably
interfere with the use of the Premises by Tenant; and this Lease shall be
subordinate to such instruments.

      16.06 SEVERABILITY. If any provision of this Lease or the application
thereof to any person or circumstance shall, to any extent, be invalid or
unenforceable, the remainder of this Lease, or the application of such provision
to persons or circumstances other than those as to which it is invalid or
unenforceable, shall not be affected thereby, and each provision of this Lease
shall be valid and enforceable to the full extent permitted by law. No remedy or
election hereunder shall be deemed exclusive, but shall wherever possible, be
cumulative with all other remedies at law or in equity. Neither this Lease nor
any term or provision hereof may be changed, waived, discharged or terminated
orally, and no breach thereof shall be waived, altered or modified, except by a
written instrument signed by the party against which the enforcement of the
change, waiver, discharge or termination is sought. Any right to change, waive,
discharge, alter or modify, or terminate this Lease shall be subject to the
prior express written consent of Landlord's Mortgagee.

      16.07 NO WAIVER. No waiver of any provision hereof shall be deemed a
waiver of any other provision hereof or of any subsequent breach of the same or
any other provision. No waiver of any breach shall affect or alter this Lease,
but each and every term, covenant and condition of this Lease shall continue in
full force and effect with respect to any other then existing or subsequent
breach thereof. No reference to any specific right or remedy shall preclude the
exercise of any other right or remedy permitted hereunder or that may be
available at law or in equity. No failure by Landlord to insist upon the strict
performance of any agreement, term, covenant or condition hereof, or to exercise
any right or remedy consequent upon a breach thereof, and no acceptance of full
or partial rent during the continuance of any such breach, shall constitute a
waiver of any such breach, agreement, term, covenant or condition.

      16.08 BIND AND INURE. The terms, provisions, covenants and conditions
contained in this Lease shall bind and inure to the benefit of Landlord and
Tenant, and, except as otherwise provided herein, their respective heirs, legal
representatives, successors and assigns.

      16.09 LANDLORD'S LIABILITY.

            (a) The term "Landlord" as used herein and throughout the Lease
shall mean only the owner or owners at the time in question of Landlord's
interest in this Lease. Upon any transfer of such interest, from and after the
date of such transfer, Landlord herein named (and in case of any subsequent
transfers the then transferor) and each of its partners, principals,
shareholders, beneficiaries or co-tenants, as the case may be, ("LANDLORD'S
CONSTITUENT PARTIES") shall be relieved of all liability for the performance of
any obligations on the part of the Landlord contained in this Lease, provided
that any monies in the hands of Landlord or the then transferor at the time of
such transfer, in which Tenant has an interest, shall be delivered to the
transferee.

            (b) The obligations contained in this Lease to be performed by
Landlord shall be binding on Landlord's successors and assigns, only during
their respective periods of ownership, provided, however, that Landlord and each
of Landlord's Constituent Parties shall be under no personal liability with
respect to any of the provisions, covenants or agreements of this Lease. If
Landlord becomes obligated to pay Tenant a money judgment arising out of any
failure by Landlord to perform any of its obligations under this Lease, Tenant
shall be limited for the satisfaction of the money judgment solely to Landlord's
interest in the Building and no other property or assets of Landlord or
Landlord's Constituent Parties shall be subject to levy, execution or other
enforcement procedure whatsoever for the satisfaction of the money judgment.

      16.10 INTERPRETATION. The words "Landlord" and "Tenant" as used herein
shall include the plural as well as the singular. The words used in neuter
gender include the masculine and feminine. If there is more than one Tenant, the
obligations under this Lease imposed on Tenant shall be joint and

                                       24
<PAGE>
several. The captions preceding the articles of this Lease have been inserted
solely as a matter of convenience and such captions in no way define or limit
the scope or intent of any provision of this Lease.

      16.11 FORCE MAJEURE. Landlord shall be excused for the period of any delay
in the performance of any obligations hereunder, when prevented from so doing by
cause or causes beyond Landlord's control including, without limitation, civil
commotion, war, labor disputes or strikes, governmental regulations or controls,
inspection delays by governmental authorities, delays in obtaining governmental
permits not occasioned by Landlord's delays, mistakes, errors or omissions,
inability to obtain any material or services, casualty, acts of God, or the
elements. Tenant shall similarly be excused for delay in the performance of
obligations hereunder provided: (a) nothing contained in this Section or
elsewhere in this Lease shall be deemed to excuse or permit any delay in the
payment of any sums of money required hereunder, or any delay in the cure of any
default which may be cured by the payment of money; (b) no reliance by Tenant
upon this Section shall limit or restrict in any way Landlord's right of
self-help as provided in this Lease; and (c) Tenant shall not be entitled to
rely upon this Section unless it shall advise Landlord in writing, of the
existence of any force majeure preventing the performance of an obligation of
Tenant promptly after the commencement of the force majeure.

      16.12 JOINT AND SEVERAL. If two or more individuals, corporations,
partnerships or other business associations (or any combination of two or more
thereof) shall sign this Lease as Tenant, the liability of each such individual,
corporation, partnership or other business association to pay Rent and perform
all other obligations hereunder shall be deemed to be joint and several.

      16.13 ENTIRE AGREEMENT. This Lease, including the Exhibits hereto, which
are made part of this Lease, contain the entire agreement of the parties and all
prior negotiations and agreements are merged herein. Neither Landlord nor
Landlord's agents have made any representations or warranties with respect to
the Premises, the Building or this Lease except as expressly set forth herein,
and no rights, easements or licenses are or shall be acquired by Tenant by
implication or otherwise unless expressly set forth herein. Tenant covenants and
agrees that no diminution of light, air or view by any structure that may
hereafter be erected (whether or not by Landlord) shall entitle Tenant to any
reduction of Annual Base Rent or Additional Rent under this Lease, result in any
liability of Landlord or Tenant, or in any other way affect this Lease or
Tenant's obligations hereunder.

      16.14 AUTHORITY. If Tenant signs as a corporation or a partnership, each
person executing this Lease on behalf of Tenant hereby covenants and warrants
that Tenant is a duly authorized and existing entity, that Tenant is duly
qualified to do business in Connecticut, that Tenant has full right and
authority to enter into this Lease, and that each person signing on behalf of
Tenant is duly authorized to do so and that no other signatures are necessary.
Upon Landlord's request, Tenant shall provide Landlord with evidence reasonably
satisfactory to Landlord confirming the foregoing covenants and warranties.

      16.15 GOVERNING LAW. This Lease and the rights and obligations of the
parties hereunder shall be construed and enforced in accordance with the laws of
the State of Connecticut.

      16.16 SURVIVAL. All agreements, covenants and indemnifications contained
herein or made in writing pursuant to the terms of this Lease by or on behalf of
Tenant shall be deemed material and shall survive expiration or sooner
termination of this Lease.

      16.17 BUILDING NAME. The Building and the Project may be known by such
name as Landlord, in its sole discretion, may elect, and Landlord shall have the
right from time to time to change such designation or name without Tenant's
consent upon thirty (30) days prior written notice to Tenant.

      16.18 SUBMISSION. Submission of this instrument for examination does not
constitute a reservation of or option for lease of the Premises, and it is not
effective as a lease or otherwise until this Lease has been executed by both
Landlord and Tenant and a fully executed copy has been delivered to each.

                           ARTICLE 17. OPTION TO RENEW

      17.01 OPTION (a) In the event, but only in the event, that a) Tenant
complies with all provisions of this entire Article as and when required, and b)
at the time of the expiration of the then current term ("current term"), 1)
Tenant, has not been in material default of the terms and provisions of this
Lease during the last 18 months of the Current Term, and 2) this Lease shall
then be in full force and effect, Tenant shall have the option to extend the
term of this Lease for two (2) successive five (5) year terms (each an "option
term") commencing at midnight on the date on which the then current term
terminates. In the event Tenant elects to exercise its option, Tenant shall so
notify Landlord by giving Landlord written notice ("Notice to Landlord")
received by Landlord no later than nine (9) months prior to the expiration of
the then current term. Each option term shall be on the same terms, covenants
and conditions as the initial term except for the amount of the Annual Base Rent
and further except that there shall be absolutely no option whatsoever to extend
the term of this Lease beyond such option terms.

                                       25
<PAGE>
      (b) The Annual Base Rent payable during each Lease Year of each option
term shall be equal to the prevailing market rental rate for office space
located within Landlord's buildings at the Project or within the local market at
the time of commencement of each option term, as determined by agreement between
Landlord and Tenant. If Tenant exercises its option as provided above, it shall
specify in such notice its evaluation of the fair rental value of the Demised
Premises ("Tenant's Rent") for the option term . Within one (1) month
thereafter, Landlord shall send to Tenant a notice stating either (i) Landlord's
agreement with Tenant's Rent, in which event such amount shall be fixed as the
rent payable by Tenant for the option term or (ii) Landlord's evaluation of such
fair rental value ("Landlord's Rent"). If Landlord and Tenant are unable to
agree upon such fair rental value within three months from the date of sending
the notice described in (ii)) above, the matter shall be determined by
arbitration under this Lease. The arbitrator's determination of the fair rental
value of the Demised Premises for the option term may not, in any event, be less
than Tenant's Rent nor more the Landlord's Rent. In no event, however, shall the
Annual Base Rent due and payable during each option term be less than the Annual
Base Rent payable for the immediately preceding Lease Year. Tenant shall
continue to pay Landlord the Annual Base Rent (and any Additional Rent) due
under this Lease at the rate being paid during the immediately preceding Lease
Year until such time as the Annual Base Rent for the option term has been
determined pursuant to this Section. All adjustments to said Annual Base Rent
shall be due and payable in full on the first day of the month following such
determination.

                            ARTICLE 18. CANCELLATION

      18.01 CANCELLATION. In the event, but only in the event that (a) Tenant
complies with all provisions of this entire Article, as and when required, and
at the time of Tenant's exercise of its right to cancel Tenant is not in default
of all terms and/or provisions of this Lease, Tenant is hereby granted the right
to cancel this Lease at any time and for any reason after the end of the 84th
month after the Commencement Date of this Lease provided that:

            (a) Tenant shall have notified Landlord by giving Landlord written
notice ("Termination Notice") received by Landlord no later than nine (9) months
prior to the date Tenant proposes to surrender the Premises to the Landlord (the
"Termination Date");

            (b) Tenant actually surrenders the Premises on the Termination Date;
and

            (c) Tenant pays to Landlord at the time Tenant delivers the
Termination Notice to Landlord a Termination Fee equal to one hundred percent
(100%) of the Landlord's unamortized costs defined herein. The term "unamortized
costs" shall mean Costs incurred by the Landlord, amortized on a nine year
schedule beginning on the Commencement Date and assuming equal monthly payments
of principal and interest, with interest at a rate equal to one percent (1%)
over the prime rate of Citibank, N.A. on the Commencement Date. The Term "Costs"
shall mean and refer to all actual expenditures of the Landlord, for alterations
and improvements in connection with this Lease , all leasing commissions paid by
Landlord, legal fees actually paid by Landlord in connection with the
preparation, execution and delivery of the Leases and any documents or
instruments delivered to Landlord or Tenant in connection with the Leases,
architectural fees, and all other fees and expenses of whatever kind or nature
related to the entering into, the execution and delivery of these Leases and the
performance of Landlord's obligations pursuant to the Leases which do not and
did not constitute Additional Rent and which were not otherwise paid by Tenant
or others..

                            ARTICLE 19. GROUND LEASE

      19.01 Tenant acknowledges that Landlord has entered into a certain ground
lease (the "Ground Lease") (a copy of which (with basic rent provisions deleted)
is attached hereto as Exhibit "E") wherein Landlord has agreed to lease a
portion of the site upon which the Building is located from Wilton Executive
Campus Associates for an initial term of seventy-five (75) years. Landlord
warrants and represents to Tenant that the Ground Lease is in full force and
effect and that Landlord is not in default thereof and knows of no facts or
circumstances that would give rise to a default if such facts or circumstances
came to the attention on the Ground Lease Landlord. Landlord further warrants
and represents to Tenant that it will, for the entire Term and any extensions
and renewals thereof fully perform all of the covenants and agreements contained
in the Ground Lease and will provide Tenant prompt written notice of any
Landlord default thereunder, including but not limited to copying Tenant with
any notice of default received by Landlord from the Ground Lease Landlord. In
the event that Landlord is in default of the Ground Lease and fails to cure such
default within the cure periods provided in the Ground Lease, Tenant may, at its
option, and after ten (10) days written notice to Landlord of its intention to
do so, cure Landlord's default and deduct the total cost of such cure from the
Base Rent next coming due until the cost of cure is recovered.

                                       26
<PAGE>
      19.02 Tenant agrees that this Lease and its interest hereunder shall be
subordinate to the Ground Lease, any first mortgage, deed of trust and/or other
security instrument hereafter placed upon the Ground Lease, the Building or the
Demised Premises and/or on any portion of the Executive Campus by Wilton
Executive Campus Associates or the Landlord, and to any and all advances made or
to be made thereunder, to the interest thereof, and all renewals, replacements
and extensions thereof. Landlord shall provide Tenant with a non-disturbance
agreement from the Ground Lease Landlord and non-disturbance agreements from all
mortgagees holding a mortgage covering the ground subject to the Ground
LeaseTenant shall have the right to file a Notice of Lease on the Wilton Land
Records in accordance with C.G.S.A. Section 47-19.

      IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease the day
and year first above written.

WITNESSESS                                LANDLORD:

                                          WILTON CAMPUS PROPERTIES, LLC

-------------------------------

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

                                          TENANT:

                                          GREENFIELD ONLINE, INC.

--------------------------------

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

                                       27
<PAGE>
                                    EXHIBIT A

                                    Premises
<PAGE>
                                    EXHIBIT B

                                Legal Description

All that certain tract, piece or parcel of land situated, lying and being in the
Town of Wilton, County of Fairfield and State of Connecticut, said parcel being
made particularly bounded and described as follows:

Beginning at a point on a westerly street line of River Road, said point located
an arc distance of 47.48 feet measured southerly along said street line from the
intersection of the division line between land of Wilton Shopping Center Limited
Partnership and land of Wilton Executive Campus Associates, then running
southerly along said westerly street line the following courses:

      An arc length of 45.31 feet along a circular curve to the left having a
radius of 560.00 feet.

      South 1(degree)59'36" East, a distance of 278.87 feet.

then turning and running through land of Wilton Executive Campus Associates the
following courses:

      North 88(degree)00'24" West, a distance of 125.00 feet,
      North  1(degree)56'36" West, a distance of 258.22 feet,
      North 66(degree)53'00" West, a distance of 88.65 feet,
      North 23(degree)07'00" East, a distance of 8.50 feet,
      North 66(degree)53'00" West, a distance of 16.00 feet,
      North 23(degree)07'00" East, a distance of 1.50 feet,
      North 66(degree)53'00" West, a distance of 55.83 feet,
      South 23(degree)07'00" West, a distance of 1.50 feet,
      North 66(degree)53'00" West, a distance of 16.00 feet,
      North 23(degree)07'00" East, a distance of 105.00 feet,
      South 66(degree)53'00" West, a distance of 263.36

to the point or place of beginning, containing 1.3888 Acres, more or less,

including a License to Use in common with others subject to Landlord's
designation of restrictions, rules and regulations (which may be promulgated
from time to time) over and on Parking License Area X, Parking Easement Y and
License Parking Area Z as shown on Map No. 4409 on file in the Wilton Land
Records. Subject to all easements, covenants, restrictions, mortgages and
related liens, now or in the future of record, and Landlord's reservation of the
right to construct structures, underground utility lines, pipes, wires, ducts,
conduits, sewer lines and other facilities on said premises and to grant
easements, rights of way, licenses, etc., for any and all purposes as Landlord
may require.
<PAGE>
                                    EXHIBIT C

                           Base Building Improvements

      At no cost to Tenant, Landlord either has, or shall, supply, furnish,
install and finish the following items in full compliance with all applicable
laws (including, without limitation, the ADA), regulations and building codes,
all at Landlord's sole cost and expense, which shall not be deducted from
Landlord's Allowance, and which shall comprise, and are hereby defined as, the
"Base Building":

1)    Service Core.

      a)    Stairways in compliance with code, the base building plans delivered
            to Tenant's architect (the "Base Building Plans"), and Tenant's type
            of occupancy and use.

      b)    Electrical, telephone, janitorial and mechanical rooms to the extent
            located on the floor as specified by Tenant's architect in
            consultation with Landlord.

      c)    Men's and women's washrooms in the Demised Premises in compliance
            with the Base Building Plans, all applicable laws (including,
            without limitation, the ADA) and codes and finished with:

            i)    Ceramic tile floors and wainscot to four foot above finish
                  floor.

            ii)   Other walls and ceilings finished;

            iii)  Counter sink, accessories, fixtures, trim lighting and all
                  mechanical and plumbing services completed; and

            iv)   Other lighting sufficient for first class washrooms.

            v)    Tenant to be consulted on type of tile, fixtures, coverings
                  and finishes, all to building standard.

      d)    Water and drainage.

            i)    Three water coolers installed in compliance with all
                  applicable laws (including, without limitation, the ADA) and
                  codes.

      e)    Two (2) elevators installed and operational as designed to operate
            at 100 FPM. Lower level lobby complete with marble floor, HVAC and
            wall covering to building standard.
<PAGE>
2)    Core Doors.

      a)    Building Standard solid core doors for stairwells, mechanical and
            janitorial and washrooms all installed, primed, sanded, and ready to
            receive paint or other Tenant finish.

      b)    Doors furnished and complete with frame, hardware, locking devices
            and closers.

3)    Walls and Windows.

      a)    Exterior windows installed and sealed.

      b)    Insulation where applicable (from slab-to-slab), installed and
            sealed.

      c)    Perimeter walls, lower level elevator lobby walls, all installed,
            clad with sheetrock, taped, sanded and ready to receive paint or
            other Tenant finish.

4)    Floors.

      a)    Smooth and level concrete floors with troweled finish.

      b)    Design to support a minimum live load of 50 lbs. per square foot and
            an additional partition load of 20 lbs per square foot.

      c)    Smooth, level and ready to receive carpeting, tile, marble or wood.

5)    HVAC.

      a)    HVAC systems in place, each with its own main trunk, but excluding
            distribution within the Premises.

      b)    Landlord will supply an HVAC system to provide one ton of cooling
            per 375 sq. ft. of gross premises area, all with up to 12 split
            system heat pumps.

6)    General Exhaust.

      a)    An installed general exhaust system for washrooms.

7)    Electrical/Power.

      a)    Electric provided to one electrical closet in the Demised Premises,
            to be located by Tenant's Architects in consultation with Landlord's
            Architect and terminated in a distribution panel with transformer.
<PAGE>
      b)    Landlord to provide 480\277 V three phase current and sufficient
            amperage that may be required for a first class office building with
            minimum of 500 amps all in accordance with standards of National
            Electric Code.

8)    Life Safety.

      a)    A sprinkler system installed in compliance with code, including main
            loop connected to core and drops in place with heads" installed per
            code for an unimproved (non-occupied) floor.

      b)    Exit signs and emergency lighting at all stairwells.

      c)    Smoke detectors as required by code.

      d)    Fire horns as required by code for core construction.

9)    Conduit Communications System.

      a)    Landlord will supply three 4 inch PVC conduits, installed
            underground, that will connect main lower level electrical room in
            the Building to Data Center in the Wilton Executive Campus building.
            The conduits will contain "Pull Ropes" and will be configured to
            accept the installation of fiber optic cable. Installation and all
            material in conduit all at Tenant's sole cost.

      b)    Tenant shall be responsible for any cabling and wiring within the
            conduit.

10) Landlord will consult with Tenant and Tenant's Architect to discuss location
of core washroom configurations and pipe chases at the Demised Premises.
<PAGE>
                                    EXHIBIT D

                        Rules and Regulations Attached to

                          and Made a Part of this Lease

      1. Tenant shall not display, inscribe, print, paint, maintain or affix on
any place or in or about the Building any sign, notice, legend, direction,
figure or advertisement, except on the doors of the Premises and on the
Directory Boards, and then only such name or names and matter, and in such
color, size, style, place and materials, as shall first have been approved in
writing by Landlord.

      2. Tenant shall not advertise the business, profession or activities of
Tenant conducted in the Building in any manner which violates the letter or
spirit of any code of ethics adopted by any recognized association or
organization pertaining to such business, profession or activities or, which in
Landlord's reasonable judgment, tends to impair the reputation of the Building
or its desirability as a building for offices, and shall not use the name of the
Building for any purpose other than as the business address of Tenant, and
Tenant shall not use any picture or likeness of the Building in any circulars,
notices, advertisements or correspondence without Landlord's prior written
consent.

      3. Tenant shall not use the Premises for housing accommodations or lodging
or sleeping purposes, or do any cooking therein (except any convenience
kitchen), or use any illumination other than electric light, or use or permit to
be brought into the Building any flammable oils or fluids such as gasoline,
kerosene, naptha, and benzine, or any explosives, radioactive materials or other
articles deemed hazardous to life, limb or property.

      4. Tenant shall not contract for any work or service which might involve
the employment of labor incompatible with the Building employees or employees of
contractors doing work or performing services by or on behalf of Landlord or
with the terms and conditions of any collective bargaining agreement to which
Landlord or Landlord's agents or contractors may be a party.

      5. Tenant shall not place anything or allow anything to be placed near the
glass of any window, door, partition or wall which may appear unsightly from
outside the Premises, and Tenant shall not cover or obstruct the sashes, sash
doors, skylights, windows and doors that reflect or admit light and air into the
public places in the Building.

      6.    No Tenant shall have any property stored outside, except with the
prior consent of Landlord.

      7. All sidewalks, halls, passages, exits, entrances, elevators, lobbies
and stairways of the Building, if any, shall not be obstructed by any Tenant or
used by him for any purpose other than for ingress to and egress from his
respective Premises no shall any door be locked during normal business hours. No
Tenant and no employees or invitees of Tenant shall go upon the roof of the
Building.

      8. Tenant shall not alter any lock nor install any new or additional locks
or any bolts on any door of the Premises, except with the prior consent of
Landlord, which consent shall not be unreasonably withheld.
<PAGE>
      9. Tenant shall not overload the floor of the Premises or mark, drive
nails, screw or drill into the partitions, woodwork or plaster or in any way
deface the Premises or any part thereof.

      10. Tenant shall not use, keep or permit to be used or kept any foul or
noxious gas or substance in the Premises, or permit or suffer the Premises to be
occupied or used in a manner offensive or objectionable to Landlord or other
occupants of the Building by reason of noise, odors and/or vibrations, or
interfere in any way with other tenants or those having business therein, nor
shall any animals, fish or birds, bicycles or other vehicles be brought in or
kept in or about the Premises or the Building. All bicycles shall be parked in
areas designated by Landlord at the Building.

      11. Tenant shall not use or keep in the Premises or the Building any
kerosene, gasoline or inflammable or combustible fluid or material, or use any
method of heating or air-conditioning other than that supplied by Landlord.

      12. Landlord will direct Tenant as to where and how telephone and
telegraph wire are to be introduced. No boring or cutting for wires will be
allowed without the consent of Landlord. The location of telephones, call boxes
and other office equipment affixed to the Premises shall be subject to the
approval of Landlord.

      13. Each Tenant, upon the termination of his tenancy, shall deliver to
Landlord the keys of offices, rooms and toilet rooms which shall have been
furnished Tenant or which Tenant shall have had made, and in the event of loss
of any keys so furnished, shall pay the Landlord therefor.

      14. Landlord reserves the right to exclude or expel from the Building any
person who, in the judgment of Landlord, is intoxicated or under the influence
of liquor or drugs, or who shall in any manner do any act in violation of any of
the Rules and Regulations of the Building.

      15. No vending machine or machines of any description shall be installed,
maintained or operated outside the Premises without the written consent of
Landlord. Should tenants desire vending machines of any type within their
Premises, such vending machines shall be provided, maintained and serviced by
Landlord or Landlord's designee.

      16.   Tenant shall not disturb, solicit, or canvass any occupant of the
Building and shall cooperate to prevent same.

      17. Any permitted corrosive, flammable or other special wastes shall be
handled for disposal as directed by Landlord and strictly in accordance with all
applicable law.

      18. Tenant's use of the Common Areas shall be limited to access and
parking purposes and under no circumstances shall Tenant be permitted to store
any goods or equipment, conduct any operations or construct or place any
improvements, barriers or obstructions in the Common Areas, or otherwise
adversely affect the appearance thereof, without the prior consent of Landlord.

      19. Tenant agrees to handle and dispose of all rubbish, garbage, and waste
from Tenant's operations in accordance with regulations established by Landlord
and not permit the accumulation or burning of any rubbish or garbage in, or
about any part of the Building.
<PAGE>
      20. Tenant shall not change (whether by alteration, replacement,
rebuilding or otherwise) the exterior color and/or architectural treatment of
the Premises or of the Building in which the same are located, or any part
thereof.

      21. Tenant shall not use the plumbing facilities for any purpose other
than for which they were constructed, or dispose of any garbage or other foreign
substance therein, whether through the utilization of so-called "disposal" or
similar units, or otherwise.

      22. Tenant shall not subject any fixtures, furnishings or equipment in or
on the Premises and affixed to the realty, to any mortgages, liens, conditional
sales agreements or encumbrances without the Landlord's prior written consent,
which shall not be unreasonably withheld.

      23. Tenant shall not install any awnings or curtains, blinds, shades or
screens in, on or outside the Premises which are visible to public view outside
the Premises without the Landlord's prior written consent, which shall not be
unreasonably withheld.

      24. Tenant shall not permit window cleaning or other exterior maintenance
and janitorial services in and for the Premises to be performed except by such
person(s) as shall be approved by Landlord and except during reasonable hours
designated for such purposes by Landlord.

      25. Tenant shall not install, operate or maintain in the Premises any
electrical equipment which will overload the electrical system therein, or any
part thereof, beyond its reasonable capacity for proper and safe operation as
determined by Landlord in light of the over-all system and requirements therefor
in the Building, or which does not bear underwriters' approval.

      26. Landlord reserves the right to make such other and further
nondiscriminatory Rules and Regulations as in its judgment may be necessary or
desirable for the safety, care and cleanliness of the Premises and the Building
and for the preservation of good order therein. Tenant agrees to abide by all
such Rules and Regulations hereinabove stated and any additional Rules and
Regulations which are adopted.

      27. Heating, lighting and plumbing: The Landlord or his agent should be
notified at once of any trouble with heating, lighting or plumbing fixtures.
Tenants must not leave doors of the Premises unlocked at night.

      28. All freight, furniture, etc. must be received and delivered through
entrances to the Building designated for such purpose unless otherwise
authorized by the Landlord, and only during such hours and in such elevators as
Landlord may reasonably determine from time to time.

      29. Nothing shall be thrown from or taken in through the windows, nor
shall anything be left outside the building on the window sills of the Premises.

      30. No person shall loiter in the halls, corridors or lavatories.

      31. The Landlord, its agents and employees shall have access at reasonable
times to perform their duties in the maintenance and operation of the Premises.
<PAGE>
      32. No Tenant shall use any method of heating other than that provided for
in the Tenant's lease without the consent of the Landlord.

      33. Any damage caused to the Building or the Premises or to any person or
party herein as a result of any breach of any of the rules and regulations by
the Tenant shall be borne by the Tenant.

      34. Landlord reserves the right to inspect all objects and matter to be
brought into the Building and to exclude from the Building all objects and
matter which violate any of these Rules and Regulations or the Lease. Landlord
may require any person leaving the Building with any package or other object or
matter to submit a pass, listing such package or object or matter, from the
tenant from whose premises the package or object or matter is being removed, but
the establishment and enforcement of such requirement shall not impose any
responsibility on Landlord for the protection of any tenant against the removal
of property from the premises of such tenant. Landlord shall in no way be liable
to Tenant for damages or loss arising from the admission, exclusion or ejection
of any person to or from the Premises or the Building under the provisions of
this Rule or the following Rule.

      35. Tenant shall not occupy or permit any portion of the Premises to be
occupied as an office for a public stenographer or public typist, or for the
warehousing, manufacture or sale to the general public of beer, wine, liquor, or
drugs; for rendition of medical, dental or other diagnostic or therapeutic
services; as a barber, beauty or manicure shop; as an employment bureau; or for
the preparation, dispensing or consumption of food and beverages in any manner
not consistent with office use, unless specifically approved and agreed to in
writing by Landlord and only for the exclusive use of Tenant, its employees and
visitors. Tenant shall not use the Premises or any part thereof, or permit the
Premises or any part thereof to be used, for sale at retail or auction of
merchandise, goods or property of any kind, except for promotional purposes, or
for manufacturing, printing, except for the operation of normal business office
reproducing or printing equipment and other business machines for Tenant's own
requirements at the Premises; provided that such use shall not exceed that
portion of the mechanical or electrical capabilities of the Building equipment
allocable to the Premises.

      36. Tenant shall not take or permit any action which would impair or
interfere with any of the Building services or the proper and economic heating,
cleaning, air conditioning or other servicing of the Building or the Demised
Premises, or impair or interfere with or tend to impair or interfere with the
use of any of the other areas of the Building by occasion or discomfort,
annoyance or inconvenience to, Landlord or any other tenants or occupants of the
Building. Tenant shall cooperate with Landlord in obtaining maximum
effectiveness of the cooling system and if requested by Landlord shall lower and
close drapes and curtains when the sun's rays fall directly on the windows of
the Premises.

      37. Tenant shall comply with such rules and regulations governing parking
as may be promulgated from time to time by Landlord, including, without
limitation, rules and regulations requiring the parking of vehicles in
designated spaces or areas or regarding the exclusion of other spaces or areas.

      38. If any governmental license or permit shall be required for the
property and lawful conduct of Tenant's business in the Premises, or any part
thereof, and if failure to secure such license or permit would in any affect
Landlord, then Tenant, at its expense, shall duly procure and thereafter
maintain such license or permit and submit the same inspection by Landlord.
Tenant shall at all times comply with the terms and conditions of each such
license or
<PAGE>
permit, and failure to procure and maintain same by Tenant shall not affect
Tenant's obligations hereunder.

      39. Business machines and mechanical equipment shall be placed and
maintained by Tenant at Tenant's expense, in such a manner as shall be
sufficient in Landlord's judgment to absorb and prevent vibration, noise and
annoyance.

      40. In the moving, delivery of receipt of safes, freight, furniture,
packages, boxes, crates, paper, office material, or any other matter or thing,
Tenant shall use and shall cause its employees and contractors and any others
making deliveries to the Premises to use hand trucks equipped with rubber tires,
side guards and such other safeguards as Landlord shall reasonably require. No
hand trucks shall be used in passenger elevators, and no such passenger
elevators shall be used for moving, delivery or receipt of the aforementioned
articles.

      41. Landlord shall have the right to prohibit any advertising by any
Tenant which, in Landlord's opinion, tends to impair the reputation of the
building or its desirability as a building for offices, and upon written notice
from Landlord, Tenant shall refrain from or discontinue such advertising. Tenant
shall not use the name of the building or its owner in any advertising without
the express prior written consent of the Landlord.

Landlord's Initials:                      Tenant's Initials:
                    ---------------                         ------------

<PAGE>
                                    EXHIBIT E

                                  Ground Lease

     THIS AMENDED AND RESTATED GROUND LEASE ("Lease"), dated as of February 3,
1998, by and between WILTON EXECUTIVE CAMPUS ASSOCIATES, a Connecticut general
partnership acting herein by Albert ft. Kleban, a general partner, duly
authorized, having an office at 1300 Post Road East Westport, Connecticut 068800
(herein called the "Landlord"), and WILTON CAMPUS PROPERTIES, LLC, a Connecticut
limited liability corporation, having an office at 1300 Post Road East,
Westport, Connecticut 06880 (herein called the "Tenant");

                                    ARTICLE I
                                Demised premises

     Section 1.01 Landlord, does lease, rent, let and demise unto Tenant, and
Tenant does hereby take and hire, that real property described in Exhibit A
attached hereto ("Demised Premises", "Premises", "'demised premises or
premises") consisting of a portion of the land situated on the property known as
Wilton Executive Campus, 11-15 River Road; Wilton, Connecticut ("land.", "Land"
or "entire property") as described in Exhibit" B attached hereto. The legal
description of the Demised Premises is subject to the preparation and approval
of a Class A-2 survey of the Demised Premises. Upon such approval, the parties
shall execute an amendment to this Lease confining the legal description of the
Premises. The Premises. the "Common Areas" (defined below) and the Land upon
which the same are located: together with all other improvements thereon and
thereunder are collectively referred to as the "Project".

     Section. 1.02: Common Areas. Landlord hereby grants to Tenant during the
term of this Lease, a license to use, in Common with the others entitled to
roach use, the Common Areas as they from time to time exist, subject to the
rights, powers and privileges herein reserved to Landlord. The term "'Common
Areas" as used herein will include all pedestrian sidewalks, landscaped areas,
loading are~, roadways, parking areas, rights of way, walking and jogging paths,
if my located at the Project that are provided and designated by Landlord for
the non-exclusive general use and Convenience of all tenants.

                                   ARTICLE II
                                 Term of Lease

     Section 2.01 (a) The initial lease term ('" Initial Term") is and shall be
for the period from January 1, 1999 and expire on December 31, 2074 Mess said
Initial Term shall sooner cease and expire pursuant to the provisions of this
Lease (the Initial Term together with any option terms is collectively referred
to as the "Term").

               (b)  The first "'Lease Year" shall begin on January 1, 1999 ( the
"Commencement Date" ) and shall end on December 31, 1999. Each Lease Year
thereafter shall consist of twelve (12) consecutive calendar months following
the end of

<PAGE>

the immediately preceding Lease Year.

                                   ARTICLE III
                                      Rent

     Section 3.01: Beginning with the Commencement Date and continuing
throughout the Term, Tenant shall pay to or upon the order of Landlord an annual
base rental (the .... base rent") as set forth below which shall be payable in
consecutive monthly installments on or before the first day of each calendar
month ha advance in the monthly amount set forth below, as adjusted by Section
3.02:

<TABLE>
<CAPTION>
Period                       Annual Base gem               Monthly Base Rent
------                       ---------------               -----------------

<S>                          <C>                           <C>
Lease Years 1-3              $60,000.00                    $5000.00

Lease Years 4-75             $60,000.00 plus               $5,000.00 plus
                             Section 3.02                  Section 3.02
                             adjustment                    adjustment
</TABLE>

     Section 3.02 On each three (3) year anniversm2cents of the Commencement
Date, the base rent shall be increased from the base rent for the previous Lease
Year by a percentage equal to the percentage increase in the CPI (as defined
below) from the Commencement Date to such anniversary date of the base rent for
the previous Lease Year period multiplied by a fraction, the numerator of which
shall be the index number of the CPI (as hereinafter defined) for the month in
which the subject Lease year commences, and the denominator of which shall be
the index number of the CPI for the product.

     The Term "'CPI'" shall mean the Consumer Price Index for All Urban
Consumers, All Items (1982-84~ 100) for the New York area and issued by the
Bureau of Labor Statistics of the United States Department of Labor. ha the
event the Index shall hereafter be converted to a different standard reference
base or otherwise revised, the determination of the base rent increase set forth
above shall be made with the use-of such conversion factor, formula or table for
converting the Index as may be published by the Bureau of Labor Statistics or,
if said Bureau shall not publish the same, then with the use of such conversion
factor, formula or table as may be published by Prentice Hall, Inc., or, failing
such publication, by any other nationally recognized publisher of similar
statistical information.

     Section 3.03: Payment of Rent- All payments of rent shall be made without
demand, deduction, counterclaim, set-off, discount or abatement in lawful money
of the United States of America.

     Section 3.0.4: Delinquency Charge: If Tenant shall fail to pay any base
rent or Additional Rent within ten (10) days after the date same is due and
payable, Tenant shall pay to Landlord (a) an administrative fee equal to five
percent (5%) of the amount due to cover Landlord's additional administrative
costs and cost of funds resulting from Tenant's failure, and (b) interest on the
amount due from its due date until paid at the lesser of 12% per annum or the
maximum legal rate that Landlord may charge Tenant. Such

<PAGE>

charges shall be paid to Landlord together with such unpaid amounts. Such late
payment charge shall not diminish or impair any other remedies available to
Landlord.

                                   ARTICLE IV
                Additional Rent for Taxes and Operating Expenses

     Section 4.02: Additional Rent: Tenant shall pay to Landlord all charges and
other amounts required under this Lease and the same shall constitute additional
rent hereunder (herein called "Additional Rent"), including, without limitation,
any sums due resulting from the provisions of this Article IV. All such amounts
and charges shall be payable to Landlord at the place where the base rent is
payable. Landlord shall have the same remedies for a default in the payment of
Additional Rent as for a default in the payment of base rent. The term "Rent" as
used in this Lease shall mean the base rent and the Additional Rent.

     Section 4.03: Definitions: (a) As used herein, the term "Taxes" shall mean
all general real property taxes and general and special assessments, charges,
fees or assessments for all governmental services or purported benefits to the
Land or building and improvements hereafter constructed on the Demised Premises
(the "'Building"), that are now or hereafter levied or assessed against Landlord
by the United States of America, the State of Connecticut, or any political
subdivision, public corporation, district or other political or public entity,
including legal fees. experts: and other witnesses' fees, costs and
disbursements incurred in connection with proceedings to contest, determine or
reduce Taxes. If any tax fiscal year occurs partially within and without the
Term hereof, then, within a reasonable time after the expiration date of this
Lease, Landlord and Tenant shall adjust Taxes with respect to any such tax
fiscal year no that Tenant shall pay the Taxes which are attributable to/he Term
hereof. Nothing herein contained shall require Tenant to pay municipal, state or
Federal income taxes assessed against Landlord, municipal, state or Federal
capital levy, estate, succession, inheritance or transfer taxes of Landlord, nor
corporation franchise taxes imposed upon any corporate owner of the fee of the
Demised Premises. Tenant may, by appropriate proceeding, in the Landlord's name,
contest, at its sole expense, the amount or validity of any real estate taxes
imposed on said Land and Building and the improvements thereon, but pending the
outcome of such proceeding, Tenant shall continue to be liable to Landlord for
Additional Rent hereunder. In the event Tenant is successful in its contest of
taxes, the Additional Rent shall be recomputed and Landlord shall refund to
Tenant any excess paid by Tenant. Landlord shall cooperate with Tenant in any
such proceeding and execute all documents necessary for the preceding within ten
(10) days after Tenant delivers them to Landlord.

(b)  As used herein, the term "Land Taxes": shall mean all Taxes assessed
     against the Land, against the Common Areas of the Project, and against the
     signs, if any on the Land, but the Land Tax shall not include any Taxes
     assessed against any buildings at the Project.

(c)  As used herein, the term "Building Taxes": shall mean all Taxes assessed
     against the Building or any other improvements constructed on the Demised
     Premises.

<PAGE>

(d)  Operating Expenses: (a) "'Operating Expenses": all costs and expenses (and
     taxes, if any, thereon) paid or incurred on behalf of Landlord in
     connection with the ownership, management, operation, maintenance and
     repair of the Common Areas and Building during the Term, including, without
     limitation:

     (i)  Charges of independent contractors for expenses otherwise includable
          in Operating Expenses, including, without limitation, snow and ice
          removal services, exterior landscaping, pest. extermination services
          and services for the maintenance and repair of the parking facilities,
          roadways and light poles;

     (ii) Charges relating to all costs, of electrical, mechanical, sewer, fire
          detection, life safety mad security systems, telecommunications
          facilities, tenant directories, emergency generator, sprinkler
          systems, and other equipment .used in common by, or for the benefit
          of, the Common Areas, and occupants of the Building;

     (iii) The premiums for fire, extended coverage, machinery, sprinkler,
          public liability, property damage, earthquake, flood, and all other
          insurance relative to the Common Areas and the operation and
          maintenance thereof plus the cost of the deductible payments made by
          Landlord in connection therewith;

     (iv) All supplies, tools, materials, equipment and maintenance and service
          contracts in connection therewith; telephone, and other office costs
          of administration; consulting fees, legal fees and accounting fees and
          other expenses of maintaining and auditing Project accounting records
          and preparing Landlord's Statements;

     (v)  Replacing, repairing, and/or adding any equipment, device, improvement
          in order to reduce (or avoid an increase in) operation or maintenance
          expenses with respect to the Project, or to comply with laws or
          governmental orders or the requirements of Landlord's insurers, and
          any repairs or removals necessitated thereby, amortized over their
          useful life as determined in the reasonable judgment of Landlord's
          accountant (including interest at the rate of 12% per annum or such
          higher rate as may have been paid by Landlord on funds borrowed for
          the purpose of constructing such improvements);

     (vi) Salaries, wages, compensation, out-of-pocket expenses, union benefits
          and labor costs (including the mount of any taxes, social security
          taxes, unemployment insurance contributions, insurance, retirement,
          medical, worker" compensation and other employee benefits) of
          janitors, waitresses, engineers and other employees of Landlord,
          utilized in connection with the operation and management of the Common
          Areas;

     (vii) Reasonable fees for management services whether rendered by Landlord
          (or affiliate) or a third-party property manager;

<PAGE>

Operating Expenses shall not include- (a) utility expenses that are separately
metered for any individual tenant in the Building; (b) any expense for which
Landlord is reimbursed by a specific tenant by reason of a special agreement or
requirement of the occupancy of the Building by such tenant; (c) expenses for
services provided by Landlord for the exclusive benefit of a given tenant or
tenants for which Landlord is directly reimbursed by such tenant or tenants; (d)
all costs,, fees and disbursements relating to activities for the solicitation,
negotiation and execution of leases for space in the Building (including but not
limited to attorneys'" fees therefore); (e) the costs of alterations to, or the
decorating or the redecorating of, space in the Building leased to other
tenants; (f) except as stated m subparagraph (g) of the definition of Operating
Expenses, the costs associated with the operation of the business of the
ownership or entity which constitutes "Landlord", including costs of selling,
syndicating, financing or mortgaging any of Landlord's interest in the Project;
(g) depreciation, interest and principal payments on mortgages and other debt
costs, if may; (h) repairs or other work required due to fire or other casualty
to the extent of insurance proceeds received by Landlord; and (i) capital
expenses for items that are not included in the definition of "Operating
Expenses."

     (e) As used herein, the term "Common Area Operating Expenses" - shall mean
all Operating Expenses assessed against the Land, against the Common Areas of
the Project, and against the signs, if any on the Land, but the Operating
Expenses shall not include any Operating Expenses assessed against any buildings
at the Project.

     (f) As used herein, the germ "Building Operating Expenses ": shah mean all
Operating Expenses Taxes assessed against may buildings or other improvements
constructed on the Demised Premises including the Building.

     Section 4.05: Tenant's Pro-Rata Share: The terms "Tenant's pro rata share,"
"proportionate share" and/or the like, as used herein, shall mean: (i) with
respect to Land Taxes, 38.396% (ii) with respect to Building Taxes, 100% (iii)
with respect to Common Area Operating Expenses, 38.396% and (iv) with respect to
Building Operating Expenses, 100%.

     Section. 4.06: Books and Records: Landlord shall maintain complete and
accurate books and records in accordance with generally recognized and
acceptable accounting principals and practices consistently applied showing in
reasonable detail all Taxes and Operating Expenses.

     Section 4.07: Statements of Tax Payments and Operating Expenses: Annually,
Landlord shall have prepared an audit by an independent certified public
accountant, chosen by Landlord, showing, in reasonable detail, all Tax Payments
and Operating Expenses for the immediately preceding Lease Year. The statements
shall be prepared in accordance with generally accepted auditing principles and
certified within ninety (90) days following the end of the immediately preceding
Lease Year. Such statements shall be made available for Tenant's inspection
during normal working hours or, in the alternative, Landlord may deliver a copy
thereof to Tenant. Tenant shall have the right to audit all of said statements
at its sole Cost and expense.

<PAGE>

     Section 4.08: Timing of Payments of Additional Rent: Commencing January 1,
1999, Tenant stmI1 pay to Landlord monthly, in advance, one-twelfth (1/12) of
Tenant's estimated annual expenses for Taxes and Operating Expenses according to
Landlord's projections therefor. As soon as practical, after the end of each
Lease Year Landlord shall deliver to Tenant the statement referred to in 4.07
above for the previous Lease Year, as well as the projected increase ha said
expenses for the next Lease Year. In the event all sums paid by Tenant on
account for Operating Expenses and Taxes during the previous Lease Year is less
than the actual expenses shown on such statement, Tenant shall pay Landlord the
difference within ten (10) days of its receipt of said statement. In the event
Tenant's payments exceed the actual amount of the expenses shown on such
statement, such excess sum shall be credited against the payments due by Tenant
for Operating Expenses and Taxes during the then current Lease Year. If such
excess shall occur during the last Lease Year of the term hereof, then Landlord
shall promptly reimburse same to Tenant within ten (10) days of Landlord's
determination thereof and, Likewise, if Landlord determines that Tenant owes
Landlord any sum due to a difference in Tenant's payments for such expenses
during the last Lease Year of the term hereof and the actual increase shown on a
statement for such period, then Tenant shall pay Landlord such difference within
ten (10) days of its receipt of a demand therefore, together with a copy of the
statement evidencing Tenant's underpayment of such expenses. Tenant may continue
to contest the amount or applicability of an item of Additional Rent by paying
the amount under protest. The payment shall not be deemed a waiver of the
Tenant's right to contest the amount or applicability of the item of Additional
Rent. Thereafter, Tenant shall have the fight to contest the mount or
applicability oPound Sterling an item of Additional Rent and, if the parties
cannot resolve the issue, Tenant may pursue the contest by legal proceedings (or
if appropriate, arbitration proceedings). If a court or arbitrator determines
that Tenant is not obligated to pay the amount of Additional Rent claimed,
Landlord, in addition to reimbursing Tenant for the over payment shall reimburse
the Tenant for the loss of interest and for the cost of the contest- If the
Tenant is obligated to pay the mount of Additional Roar claimed, Tenant, in
addition to payment of such Additional Rent, shall reimburse Landlord for the
loss of interest and for the costs of the contest. Until Tenant receives any
such statement and projection as herein provided, Tenant shall continue to pay
the monthly Additional Rent hereunder for the prior Lease Year. Within thirty
(30) days of the delivery of such statement and projection of expense increases,
Tenant shall pay-Landlord, for each month in the then current Lease Year that
commenced prior to Tenant's receipt of such statement and projection, an amount
equal to the excesses, if any, of one-twelfth (1/12) of such Additional Rent
over the monthly payment theretofore made by Tenant for such months pursuant to
the provisions of this Lease. In the event the Landlord actually receives
Additional Rent from Tenant in excess of that necessary to pay the Taxes and
Operating Expense attributable to the Demised Premises, Landlord shall give
Tenant a credit for Tenant's pro rata share of such excess payments against
future Additional Rent payments due hereunder.

                                    ARTICLE V
                          Uses of Premises, Signs. Etc
<PAGE>

     Section 5:01: The Tenant may use the Premises for any use permitted by laws
and regulations relating to or governing the use of the Premises. Tenant shall
not use or permit Demised Premises or any building or buildings constituted
thereon, or any part thereof to be used or occupied for any unlawful purpose.

                                   ARTICLE VI
            Assignments Mortgages and. Subleases of Tenant's Interest

     Section 6.01.

          (a)  Except, as hereafter provided in section 6.01 (b) Tenant shall
               not assign this lease or Tenant's interest therein without
               Landlord's prior written consent.

          (b)  Notwithstanding the foregoing provisions of Section 6.01 (a),
               Tenant shall have the right, without Landlord's consent, to
               assign this lease to:

               (i)  Any Affiliate of Tenant. For purposes of this Article VI,
                    the term "Affiliate" shall mean nay one of the following: a
                    limited partnership of which the general partner of Tenant
                    is the general partner, an entity, more than 50% of whose
                    controlling interests are owned by Tenant, or an entity
                    which owns more than 50% of the voting interests of Tenant;

               (ii) A "'Leasehold Mortgagee" (as hereafter defined);

               (iii) In connection with a merger, consolidation or other
                    reorganization of Tenant, including the sale of all or a
                    major portion of its assets, to the entity emerging from
                    such process owning a major portion of such assets.

          (c)  Notwithstanding anything to the contrary contained in subsections
               6.01 (a) and 0b) above, (I) no assignment of this lease or
               Tenant's interest therein shall relieve or release Tenant from
               its obligations to Landlord under this lease, and (ii) no
               assignment of this lease or Tenant's interest therein to anyone
               other than to a Leasehold Mortgagee (the terms of an assignment
               to a Leasehold Mortgagee are governed by Article VII below) shall
               be effective unless the assignee has expressly and in writing
               unconditionally agreed to assume all of Tenant's obligations
               Under this lease, and an executed original of such assumption has
               been received by Landlord.

     Section 6.02. Tenant shall have the unrestricted right to sublet the
Demised Premises and lease space in any building(s) or improvements located on
the Demised Premises in whole or in part without Landlord's consent so long as
(a) a fully executed copy of each sublease or lease is delivered to Landlord,
and (b) such subleases or leases, or any of them, shall not violate any use,
exclusive or restricted covenant contained in any other lease or agreement
affecting the Project.

<PAGE>

     Section 6.03. Tenant, and its successors and assigns, shall have the
unrestricted right to mortgage and pledge this lease, subject however; to the
limitations that (a) any such mortgage or pledge shall be subject and
subordinate to the rights of Landlord hereunder, (b) such mortgage shall be
subject to the terms, conditions and limitations set forth in Article VI hereof.

     Section 6.04. Landlord agrees not unreasonably to refuse to execute an
agreement, hereinafter referred to as a "non-disturbance agreement" and
containing such provision regarding attorment and subordination reasonably
acceptable to Landlord, with subtenants of Tenant and who shall first have
executed the non-disturbance agreement. The term of any such sublease shall not
extend beyond the then current or renewed term of this lease.

                                   ARTICLE VII
                          Rights of Leasehold Mortgages

     Section 7.01 Notwithstanding anything contained in this Lease to the
contrary, Tenant shall have the right at any time and from time to time, without
Landlord's consent, to mortgage or otherwise encumber Tenant's Leasehold estate
and Tenant' s rights under this Lease together with Tenant's interest in any or
all improvements appurtenant thereto pursuant to one or more leasehold mortgages
or deeds of trust ("Leasehold Mortgages"); provided, however, that (i) no more
than one (1) Leasehold Mortgage shall encumber Tenant's leasehold estate at any
time, and (ii) the Leasehold Mortgagee is a bank, savings bank, insurance
company, real estate investment trust, mortgage investment trust, mortgage
banking company, investment banking company, trust company, or other
institutional type lender. Any Leasehold Mortgage shall always recognize
Landlord's interest in this Lease.

     Section 7.02 Landlord agrees to send copies of all notices given to Tenant
simultaneously to each leasehold mortgagee notice of whose name and address has
been given to Landlord (a "'Leasehold Mortgagee")

     Section 7.03 Landlord may terminate this Lease or exercise any remedies
under this Lease upon a default hereunder only after Landlord shall have given
Leasehold Mortgagee (i) copy of any notice of default delivered to Tenant (the
"Default Notice") specifying such default, and (ii) the opportunity to cure such
default(s), as follows. Leasehold Mortgagee shall be entitled to cure any stated
monetary default for a period of thirty (30) days after receipt of such Default
Notice. If Leasehold Mortgagee notifies Landlord of its intent to Cure
("Leasehold Mortgagee's Notice") within thirty (30) days of receipt of the
Default Notice, Leasehold Mortgagee shall be entitled to cure any stated
non-monetary default for a period of thirty (30) days after receipt of such
Default Notice; provided, however, that all Rent and due to Landlord is timely
paid and if Leasehold Mortgagee requires additional time to complete the curing
of any such non-monetary default, then, provided Leasehold Mortgagee has
commenced to cure such default within such 30-day period and thereafter
prosecutes the same to completion with reasonable

<PAGE>

diligence, Leasehold Mortgagee shall be entitled to such additional time as is
reasonably necessary to cure such default. If Leasehold Mortgagee cures all
mated defaults in accordance with the foregoing provisions, then both the notice
of default given to Tenant (with a copy to Leasehold Mortgagee) and the Default
Notice shah be null and void and of no effect. Landlord agrees to accept
performance of Tenant's obligations hereunder by Leasehold Mortgagee with the
same force and effect as though observed or performed by Tenant.

     Section 7.04 If Leasehold Mortgagee reasonably determines that, in order to
cure any default, possession of, or title to, the leasehold estate is required,
or if the default is of such a nature that it is not reasonably susceptible of
cure by Leasehold Mortgagee, then Landlord shall not be entitled to terminate
this Lease, provided that: (i) Leasehold Mortgagee notifies Landlord within the
30-day cure period afforded Leasehold Mortgagee pursuant to Section 7.03 above
that is intends to acquire possession of, or title to, the leasehold estate;
(ii) Leasehold Mortgagee cures may defaults and performs any of Tenant's
obligations under this Lease which are reasonably susceptible of being cured or
performed by Leasehold Mortgagee prior to having gained possession of, or title
to, the leasehold estate; and (iii) Leasehold Mortgagee takes steps promptly to
acquire Tenant's interest in this Lease by foreclosure or otherwise and
prosecutes the same to completion with reasonable diligence, exempt to the
extent enjoined or stayed. Upon completion of the conveyance of Tenant's
leasehold interest hereunder by foreclosure or otherwise, this Lease shall
continue in full force and effect as a lease between Landlord and Leasehold
Mortgagee, its designee or the purchaser of the leasehold estate in any
foreclosure proceedings, and Leasehold Mortgagee; its designee or purchaser
shall with due diligence cure any remaining default which is reasonably
susceptible of being cured. Upon the completion of any such conveyance, Landlord
agrees to entered into an agreement with Leasehold Mortgagee to document the
tenants of this Lease, which agreement shall be effective for the remainder of
the Term of this Lease, and aha/l contain the same terms and provisions as
contained in this Lease, including (without limitation) the base rent mad
Additional Rent terms provided for in this Lease. Leasehold Mortgagee shall not
be required, as a condition to its exercise of any of its rights hereunder, to
cure any default not reasonably susceptible of being cured by Leasehold
Mortgagee, including but not limited to a default based upon the bankruptcy or
insolvency of Tenant. Any such default shall be deemed waived by Landlord upon
completion of such foreclosure or other steps in the event that the stated
default is cured. If the stated default is cured and Leasehold Mortgagee
discontinues such foreclosure or other steps, this Lease shall continue in full
force and effect as if Tenant had not defaulted under this Lease.
Notwithstanding the foregoing or anything in this Lease to the contrary, any
Leasehold Mortgagee or its designee or purchaser of the leasehold estate at any
foreclosure proceeding or other successor to Tenant's interest hereunder shall
be bound by the terms set forth in this Lease herein, and the failure by any
such successor to Tenant's interest hereunder to comply with all of the
requirements of such Lease shall constitute a default under this Lease.

     Section 7.05 Under no circumstances shall Leasehold Mortgagee be liable for
the performance of Tenant's obligations hereunder unless and until Leasehold
Mortgagee

<PAGE>

acquires Tenant" s rights and interest by foreclosure or other assignment or
transfer in lieu thereof, but if Leasehold Mortgagee gives Leasehold Mortgagee's
Notice, Leasehold Mortgagee shall be responsible for all Rent owed to Landlord
from the date of Landlord's Default Notice. In the event that Leasehold
Mortgagee so acquires Tenant's rights and interest, the liability of Leasehold
Mortgagee, its successors and assigns shall be limited to its leasehold interest
in this Lease. Neither Leasehold Mortgagee, its successors or assigns, nor any
agent, partner, officer, trustee, director, shareholder or principal (disclosed
or undisclosed) of Leasehold Mortgagee, its successors or assigns, shall have
any personal liability hereunder.

     Section 7.06 All notices from Landlord to Leasehold Mortgagee and from
Leasehold Mortgagee to Landlord hereunder shall be in writing and given in the
manner specified in Article 23 hereof. The address for notices to Leasehold
Mortgagee shall be the address furnished to Landlord pursuant to this Section 7.

     Section 7.07 Leasehold Mortgagee shall not be bound by any modification or
amendment to the Lease made after notice to Landlord that Tenant has executed a
Leasehold Mortgage and without the prior written consent of Leasehold Mortgagee.

     Section 7.08 The Terms and provisions of this Section 7 shall survive the
termination, rejection or disaffirmance of this Lease.

                                  ARTICLE VIII
                      Compliance With Laws Ordinances, Etc.

     Section 8.01: Throughout the term of this Lease, Tenant, at its sole cost
and expense, shall comply with all a) present and future laws, ordinances,
orders, rules, regulations, requirements and Historic Standards of all federal,
state and municipal governments, courts, departments, commissions, boards and
officers, applicable to Tenant's use of the Premises and b) the Rules and
Regulations reasonably promulgated by Landlord with respect to the Common Areas.

                                   ARTICLE IX
                  Indemnification and Non-Liability of Landlord

     Section 9.01: Tenant covenants and agrees, at Tenants sole cost and
expense, to indemnify and save harmless Landlord against and from any and all
personal injury and/or personal property claims suffered by any person, firm,
corporation or governmental authority on the Demised Premises during the term of
this Lease. Landlord Covenants and agrees, at Landlord s sole cost and expense
to indemnify and save harmless Tenant against and from may and all personal
injury and/or personal property claims suffered by any person, firm, corporation
or governmental authority on the Land, other than in the Demised Premises and in
the Demised Premises if caused by the Landlord, its agents, servants or
employees, during the term of this Lease.

         Section 9.02: Tenant and Landlord mutually covenant and agree to pay
and to

<PAGE>

indemnify each other against, all costs and charges, in eluding reasonable
counsel fees, in enforcing any covenant or agreement of Tenant and Landlord
contained in this Lease.

     Section 9.03: Tenant agrees to pay all costs and charges, including counsel
fees, lawfully and reasonably incurred in obtaining possession of the Demised
Premises after default of Tenant or upon expiration or earlier termination of
this Lease. Landlord agrees to pay all costs and charges, including reasonable
attorney fees, if it is found that early termination by Landlord of this Lease
had not been reasonable.

                                    ARTICLE X
                               Discharge of Liens

     Section 10.01: Tenant and Landlord shall not suffer or permit any
mechanic's, laborer's or materialman' s liens to stand against the Demised
Premises, or arty part thereof, or against the interest of Tenant or Landlord in
the Demised Premises by reason of any work, labor, services or materials done
for, or supplied to, or claimed to have been done for, or supplied to, Tenant,
Landlord or anyone holding the Demised Premises or any part thereof through or
under Tenant or Landlord. If any such lien shall at any time be filed against
the Demised Premises or any part thereof, or against the interest of Tenant or
Landlord therein, Tenant or Landlord, as the ease may be, shall cause the name
to be discharged of record within thirty (30).days after the .date of the filing
of the same or the date Tenant or Landlord has actual notice of same, (whichever
is later) by either deposit or bond. If Tenant or Landlord shall fail to
discharge any such lien within such period, then, in addition to any other right
or remedy of Tenant or Landlord, Tenant or Landlord may, as the case may be, but
shaI1 not be obligated to, procure the discharge of the same by bonding. Any
amount paid or deposited by Landlord or Tenant for may of the aforesaid
purposes, and all costs and other expenses of Landlord or Tenant, including
reasonable counsel fees, in defending may such action or in or about procuring
the discharge of such lien, with all necessary disbursements in connection
therewith, shall be payable as Additional Rent or credited against the
installment of base rent, as the case may be, on the next succeeding rent
payment date.

     Section 10.02: Nothing in this Lease shall be deemed to be, or shall be
construed in any way as constituting the consent or request of Landlord,
expressed or implied, by inference or otherwise, to any person, firm or
corporation for the performance of any labor the furnishing of any materials for
may construction, rebuilding, alteration or repair of or to the Demised
Premises, or any part thereof, nor as giving Tenant any right, power or
authority to contract for or permit the rendering of any services or the
furnishing of any materials which might in any way give rise to the fight to
file any lien against Landlord's interest in the Demised Premises. Landlord
shall have the right to post and keep posted at all reasonable times on the
Demised Premises any notices which Landlord shall be required so to post for the
protection of Landlord and the Demised Premises from any such lien.

                                   ARTICLE XI
                              Insurance and Damage

<PAGE>

     Section 11.01: Tenant shall, at Tenant's sole cost .and expense and naming
Landlord and the holder of any mortgage to which this Lease is subject and
subordinate (hereinafter referred to as Mortgagee), as their interests may
appear, maintain: general liability insurance protecting Tenant and Landlord
against claims of any and all persons, firms and corporations for personal
injury, death or property damage occurring in, upon, adjacent or connected with
the premises or any part thereof, such insurance to afford protection in the
amount that Landlord shall determine. Landlord shall carry liability insurance
in limits to be determined naming Tenant as an additional insured.

                                   ARTICLE XII
                                  Condemnation

     Section 12.01: Eminent Domain. (a) In the event the whole of the premises
shall be acquired or condemned by eminent domain for any public or quasi-public
me or purpose, then and in that event, the terms of this Lease shall cease and
terminate from the date of title vesting in such Proceeding or the termination
of the right to possession, whichever is earlier. In the event may substantial
part thereof, or of Landlord's land or building is so required or condemned as
to render the premises untenantable, including, but not limited to the parking
lot, and in Tenant's sole opinion it cannot adequately use the premises, then
the Tenant may terminate this Lease and the term and the estate hereby granted
by notifying Landlord in writing of such termination and this Lease shall expire
on the date specified in the notice of termination, but not less than 30 days
after the giving of such notice and the rent hereunder shall be apportioned as
of said date. In the event any part of the premises shall be so taken and this
Lease shall not terminate or be terminated under the provisions of this
subsection, then the monthly vase rent and additional rent shall be equitably
apportioned according to the area so taken.

                                   ARTICLE XII
                               Default Provisions

         Section 13.01: The occurrence of any one or more of the following
events shall constitute an event of default (each an "Event of Default")
hereunder: (a) If Tenant shall fail to pay any item of base rent mad/or
Additional Rent or any other charge or sum required to be paid by Tenant under
this Lease, and such failure shall continue for fifteen (15) days after notice
thereof from Landlord to Tenant; (b) if Tenant shall fail to perform or observe
any other requirement of this Lease on the part of the Tenant to be performed or
observed, and such failure shall continue for thirty (30) days after notice
thereof from Landlord or (c) the admission by Tenant in writing of its inability
to pay its debts as they become due, the filing by Tenant of a petition in
bankruptcy seeking any reorganization, arrangement, composition, readjustment,
liquidation, dissolution or similar relief under, any present or future statute,
law or regulation, the filing by Tenant of an answer admitting or failing timely
to contest et material allegation of a petition filed against Tenant in any such
proceeding and the failure, if within forty five (45) days after the
commencement of any such proceeding against Tenant seeking any involuntary
reorganization, or arrangement, composition, readjustment, liquidation,
dissolution or

<PAGE>

similar relief under any present or future statute, law or regulation by any of
Tenant's creditors or such guarantor's creditors, to have such proceeding
dismissed.

     Section 13.02 Remedies. Upon the occurrence of any Events of Default by
Tenant which is not cured by Tenant within the grace periods specified in
Section 13.01 hereof, if any, Landlord shall have the following rights and
remedies, in addition to all other rights or remedies available to Landlord in
law or equity:

     (a) Landlord may give written notice to Tenant specifying such Event of
Default or Events of Default and stating that this Lease and the Term hereby
demised shall expire and terminate on the date specified in such notice, and
upon the date specified in such notice, this Lease and the Term hereby demised,
and all fights of Tenant under this Lease shall expire and terminate. Upon any
termination of this Lease, Tenant shall quit and peaceably surrender the Demised
Premises, and all portions thereof, to Landlord. Following any such termination,
Landlord may, without further notice, enter the Demised Premises, and any
portions thereof, and take possession thereof by summary;proceeding, ejectment
or otherwise, and may dispossess Tenant and remove Tenant and all other persons
and property from the Demised Premises and Landlord shall have the right to
receive all rental and other income of and from the same.

     (b) At Landlord's election, without terminating this Lease, Landlord may,
without re-entry, recover possession of the Demised Premises in the manner
prescribed by any statute relating to summary process, and any demand for the
Rent, re-entry for condition broken, and any and all notices to quit, or other
formalities of any nature, to which Tenant may be entitled, are hereby
specifically waived. Landlord may relet the Demised Premises for the account of
Tenant. No such termination of Tenant's fight to possess the Demised Premises
under this Section 13.02(b) shall relieve Tenant of its liabilities and
obligations under this Lease (as if such fight .of possession had not been so
terminated or expired), and such liabilities and obligations shall survive any
such termination of Tenant's possessory interest- In the event of any such
termination of this Lease or Tenant's fight of possession, whether or Dot the
Demised Premises, or any portion thereof, shall .have been relet, Tenant shall
pay the Landlord a sum equal, to the Rent mad any other charges required to be
paid by Tenant lap to the time of such termination of such right of possession
and thereafter Tenant. until the end of the Term, shall be liable to Landlord
for and shall pay to Landlord: (i) the equivalent of the amount of the Rent
payable under this Lease, less (ii) the net pros of any reletting effected
pursuant to the provisions hereof after deducting all of Landlord's "Reletting
Expenses" (as defined in Section 13.2). Tenant shall pay such amounts in
accordance with the terms of this Section 13.02) as set forth in a written
statement thereof from Landlord to Tenant (hereinafter, the "Deficiency") to
Landlord in monthly installments on the days on which the base rent is payable
under this Lease, and Landlord shall be entitled to recover from Tenant each
monthly installment of the Deficiently, as the same shall arise. Tenant shall
also pay to Landlord upon demand the costs incurred by Landlord in curing
Tenant's defaults existing at or prior to the date of such termination and the
cost of recovering possession of the Demised Premises. Tenant agrees that
Landlord may file suit to recover any sums that become due under the terms of
this Section from time to time, and all reasonable

<PAGE>

costs and expenses of Landlord including attorneys' fees and costs incurred in
connection with such suits shall be payable by Tenant on demand.

     (c) At any time after an Event of Default and termination of the Lease by
Landlord, whether or not Landlord shall have collected any monthly Deficiently
as set forth in Section 13.02(b), Landlord shall be entitled to recover from
Tenant, and Tenant shall pay to Landlord on demand, as and for final damages for
Tenant's default and in lieu of any subsequent Deficiency (but without
limitation of the provisions of subsection (f) hereof):

               all Rent and other minas due and payable by Tenant on the date of
          termination;

               plus the costs of curing Tenant's defaults existing at or prior
          to the date of termination;

               plus the cost of recovering possession of the Demised Premises
          and the Reletting Expenses; plus

               an amount equal to the difference between the then present worth
          of the aggregate of the Rent and any other charges to be paid by
          Tenant hereunder for the then unexpired term of this Lease (assuming
          this Lease had not been so terminated), and the then present worth of
          the then aggregate fair market rent of the Demised Premises for the
          same period (taking into account rentals received by Landlord under a
          replacement Lease of the Demised Premises) in the computation of
          present worth, a discount at the then market discount rate as
          reasonably determined by Landlord shall be employed.

     (d) In connection with any reletting of the Demised Premises following an
Event of Default, Landlord shall be entitled to grant such rental and economic
concessions and other incentives as may be customary for similar space in
eastern Fairfield County.

     (e) Any and M1 property belonging to Tenant or to which Tenant is or may be
entitled which may be removed from .the Demised Premises by Landlord pursuant to
the authority of this Lease or applicable law, may be handled, removed or stored
in a commercial warehouse or otherwise by Landlord at Tenant's risk and expense
and Landlord shall in no event be responsible for the value, preservation or
safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all
expenses incurred in such removal and all storage charges for such property so
long as the same shall be in Landlord's possession or under Landlord's control.

     (f) Landlord shall have the right of injunction, in the event of a breach
or threatened breach by Tenant of any of the agreements, conditions, covenants
or terms hereof, to restrain the same and the right to invoke any remedy allowed
by law or in equity, whether or not other remedies, indemnity or reimbursements
are herein

<PAGE>

provided. The fights and remedies given to Landlord in this Lease are distinct,
separate and cumulative remedies; and no one of them, whether or not exercised
by Landlord, shall be deemed exclusive of any of the others.

     (g) For purposes of this Section 13.02, "Reletting Alterations" shall mean
all repairs, made by Landlord in or to the Demised Premises to the extent deemed
reasonably necessary by Landlord to prepare the Demised Premises for the
releasing following an Event of Default; and "Reletting Expenses" shall mean the
reasonable expenses paid or incurred by Landlord in connection with any
re-leasing of the Demised Premises following an Event of Default, including,
without limitation, marketing expenses, brokerage commissions, management fees,
attorneys' fees, the costs of Reletting Alterations, operating expenses and rent
and other economic concessions reasonable and customary in Fairfield County at
the time, provided to the new tenant.

     Section 13.03 Landlord's Right to Cure Defaults. If the Tenant shall
default in the observance or performance of any condition or covenant on
Tenant's part to be observed or performed under or by virtue of any of the
provisions of this Lease, and such default continues beyond any applicable
notice and cure period or Landlord reasonably determines that an emergency
exists, the Landlord, without being under any obligation to do so and without
thereby waiving such default, may remedy such default for the account and at the
expense of the Tenant. If the Landlord makes any expenditures or incurs any
obligations for the payment of money in connection therewith, including but not
limited to reasonable attorney's fees in instituting, prosecuting or defending
any action or proceeding, such sums paid or obligation incurred and Costs, shall
be paid upon demand to the Landlord by the Tenant as Additional Rent hereof and
if not so paid with interest from its due date until paid at the lesser of
eighteen (18%) percent per annum or the maximum legal rate that Landlord may
charge Tenant.

     Section 13.04 No Accord and Satisfaction. Landlord may collect and receive
any rent due from Tenant, and the payment thereof shall not constitute a waiver
of or affect any notice or demand given, suit instituted or judgment obtained by
Landlord, or be held to waive, affect, change, modify or alter the rights or
remedies that Landlord has against Tenant in equity, at law, or by virtue of
this Lease. No receipt or acceptance by Landlord from Tenant of less than the
monthly rent herein stipulated shall be deemed to be other than a partial
payment on account for any due and unpaid stipulated rent; no endorsement or
statement on any check or any letter or other writing accompanying any check or
payment of rent to Landlord shall be deemed an accord and satisfaction, and
Landlord may accept and negotiate such check or payment without prejudice to
Landlord's rights to (i) recover the remaining balance of such unpaid rent, or
(ii) pursue any other remedy provided in this Lease.

     Section 13.05 Arbitration. Any dispute arising out of or relating to this
Lease (with respect to the issues expressly stated therein) shall be submitted
to and determined in binding arbitration under the Commercial Arbitration Rules
of the American Arbitration Association. The arbitration shall be conducted
before and by a single

<PAGE>

arbitrator selected by the parties. If the parties have not selected an
arbitrator within 30 days of written demand for "arbitration, the arbitrator
shall be selected by the American Arbitration Association pursuant to the then
current rules of that Association on application by either party. The arbitrator
shall have authority to fashion such just, equitable and legal relief as he, in
his sole discretion, may determine. The parties agree that the arbitration
hearing shall be held within thirty (30) business days following notification to
the parties of the appointment of such arbitration, and that the arbitration
proceedings shall be concluded within thirty (30) business days following the
first scheduled arbitration hearing. Each party shall bear all its own expenses
of arbitration and shall bear equally the costs and expenses of the arbitrator.
All arbitration proceedings shall be conducted in the City of Stamford, State of
Connecticut. Landlord and Tenant further agree that they will faithfully observe
this agreement and rules, and that they will abide by and perform any award
rewarded by the arbitrator and that a judgment of the court having jurisdiction
may be entered upon the award. The duty to arbitrate shall survive the
cancellation or termination of this Lease. Landlord and Tenant further agree
that in addition to the discovery rights available to them under the Commercial
Arbitration Rules they shall have all fights of discovery available to litigants
pursuant to the Connecticut Rules of Court then appertaining.

     Section 13.06 Indirect Damages. Notwithstanding any provision of this Lease
to the contrary (except Section 2.02), none of the provisions of this Lease
shall cause either party to be Liable to the other party, or anyone claiming
through or on behalf of such other party, for any special, indirect or
consequential damages, including, without limitation, lost profits or revenues.

     Section 13.07 Waiver. TENANT HEREBY REPRESENTS, COVENANTS AND AGREES THAT
IT IS ENGAGED PRIMLY IN COMMERCIAL PURSUITS, AND THAT THE LEASE IS A "COMMERCIAL
TRANSACTION" WITHIN THE MEANING OF SECTION 52-278a(a) OF THE CONNECTICUT GENERAL
STATUTES (REV. 1958), AS AMENDED. TENANT HEREBY WAIVES ALL RIGHTS TO NOTICE,
PRIOR JUDICIAL HEARING OR COURT ORDER UNDER SECTION 52-278a ET SEQ. OF
CONNECTICUT GENERAL STATUTES (REV. 1958) AS AMENDED OR UNDER ANY OTHER STATE OR
FEDERAL LAW WITH RESPECT TO ANY PREJUDGMENT REMEDIES THE LANDLORD MAY EMPLOY TO
ENFORCE ITS RIGHTS AND REMEDIES HEREUNDER.

     Section 13.08 Claims in Bankruptcy. Nothing herein shall limit or prejudice
the right of Landlord to prove for and obtain in proceedings for bankruptcy or
insolvency by reason of any such termination, an amount equal to the maximum
allowed by any statute or rule of law in effect at the time when, and governing
the proceedings in which, the damages are to be proved, whether or not the
amount be greater, equal to or less than the amount of the loss or damage
referred to above. Without limiting any of the provisions of this Article 13, if
pursuant to the Bankruptcy Code, as the same may be mended, Tenant is permitted
to assign this Lease in disregard of the restrictions contained in Article 12,
Tenant agrees that adequate assurance of future performance by the assignee
permitted

<PAGE>

under the Bankruptcy Code shall mean the deposit of such security with Landlord
in any amount equal to all Rent payable under this Lease for the calendar year
preceding the year in which such assignment is intended to become effective,
which deposit shall be held by Landlord, without interest, for the balance of
the term as security for the full and faithful performance of all of the
obligations under this Lease on the part of Tenant yet to be performed. If
Tenant receives or is to receive any valuable consideration for such an
assignment of this Lease, such consideration, after deducting therefrom (a) the
brokerage commissions, if any, and other expenses reasonably designated by the
assignee as paid for the purchase of Tenant's property in the Demised Premises,
shall be and become the sole exclusive property of Landlord and shall be paid
over to Landlord directly by such assignee, in addition adequate assurance shall
mean that any Such assignee of this Lease shall have a net worth indicating said
assignee's reasonable ability to pay the Rent, and abide by the terms of this
Lease for the remaining portion there, of applying commercially reasonable
standards.

                                   ARTICLE XIV
                                 Quite Enjoyment

     Section 14:01: Landlord covenants that Tenant shall and may reasonably and
quietly have, hold and enjoy the premises and the easements granted under this
Lease for the term of this Lease free from Landlord or those claiming through or
under Landlord, subject, however, to the terms of this Lease. This covenant
shall be construed as running with the land to and against subsequent owners and
successors in interest and is not, nor shall it operate or be construed as, a
personal covenant of Landlord, its successors and assigns, except to the extent
of Landlord's interest in said premises and only so long as such interest shall
continue, and thereafter this covenant shall be binding only upon such
subsequent owners and. successors in interest to the extent of their respective
interest as and when they shall acquire the same, and only so long as they shall
retain such interest.

                                   ARTICLE XV
                                  Subordination

     Section 15.01: This Lease is and shall be subject and subordinate to all
present and/or future mortgages which may now or hereafter be placed on the
entire property and affect such Leases, premises, buildings or land, and to all
renewals, modifications, consolidations, replacements and extensions thereof.
Landlord shall obtain a nondisturbance agreement from any present or future
mortgagee. This clause shall be self-operative and no further instrument of
subordination shall be required by any mortgagee. In confirmation of such
subordination, Tenant shall promptly execute any certificate that Landlord may
request. Neither the termination of the foreclosure of Landlord's leasehold
interest in the premises, other buildings or land nor the institution of may
suit and/or proceedings by the Landlord or by the holder of any such mortgage,
shall by operation of law and/or otherwise result in the cancellation and/or,
termination of this Lease and/or the obligations of Tenant hereunder, and Tenant
agrees, after receiving written notice to attorn to and recognize the Landlord,
and/or the holder of any such Landlord and/or mortgagee shall succeed to
Landlord's interest in the premises, provided

<PAGE>

however, that said successor in interest sham not by bound by:

(a) any payment of base rent, Additional Rent and/or other sums due pursuant to
this Lease for more than one month in advance, except prepayments in the nature
of security for the performance by Tenant of Tenant's obligations under this
Lease.

(b) any amendment and/or modification of this Lease made without consent of the
holder of any such mortgage or such successor in interest.

                                   ARTICLE XVI
                       Sale or Assignment by Landlord, Etc

     Section 16.01: The Landlord shall have the right to sell and/or transfer,
without consent of the Tenant, all or any part of the entire property or land,
or all or any part of the premises, and/or co assign and/or transfer all or any
portion of this Lease and thereupon all or any portion of the benefits accruing
to the Landlord hereunder, including, but not limited to, all or any portion
oPound Sterling any rent which shall accrue to and be payable to the Landlord
and provided that and so long as Tenant is in full compliance With all of its
obligations pursuant to this entire Lease its possession of the premises shall
not be disturbed.

                                  ARTICLE XVII
                                  Force Majeure

     Section- 17.01- The Landlord and Tenant respectively, shall not be in
default hereunder if either party is unable to fulfill or is delayed in
fulfilling any of its obligations hereunder, including, without limitation on s,
any obligations to supply any service hereunder or any obligation to make
repairs or replacements hereunder if Landlord, or Tenant as the case may be, is
prevented from fulfilling or is delayed in fulfilling such obligations by reason
of fire or other casualty, strikes or labor troubles, governmental preemption in
connection with a national emergency, shortage of supplies or materials, or by
reason of any rule, order or regulation of any governmental authority, or by
reason of the condition of supply and demand affected by war or other emergency,
or any other cause beyond its control. Such inability or delay by Landlord or
Tenant in fulfilling any of their respective obligations hereunder shall not
affect, impair or excuse the other party hereto from the performance of any of
the terms, covenants, conditions, limitations, provisions or agreements
hereunder on its part to be performed, except that if Tenant is unable to occupy
any portion of the premises and vacates same due to Landlord's inability to
fulfill any of its obligations hereunder due to a cause beyond its reasonable
control as herein provided, then the base rent shall be equitably abated after
Tenant has given Landlord notice of such condition and vacated any such space
for a period of 5 weekdays from the day following such 5 day period to the day
that such space is tenantable.

                                   ARTICLE II
                                    Services

<PAGE>

     Section 18.01: Landlord shall furnish, or cause to be furnished to Tenant
the following:

     (a) Access to the Land twenty-four (24) hours a day, seven (7) days a week.

     (b) Landlord shall provide removal of ice and snow from the Common Areas.

     (c) Landlord shall repair, replace, maintain and insure the Common Areas of
the Land.

     (d) Landlord shall adequately light the Common Areas of the Land.

                                   ARTICLE XIX
                       Invalidity of Particular Provisions

     Section 19.01: If any term or provision of this Lease or the application
thereof to any person or circumstance shall to any extent be invalid or
unenforceable, the remainder of this Lease, or the application of such term or
provision to persons or circumstance, other than those as to which it is invalid
or unenforceable, shall not be affected thereby, and each term of this Lease
shall be valid and be enforced to the fullest extent permitted by law.

                                   ARTICLE XX
                Covenants to Bind and Benefit Respective Parties

     Section.20.01: The terms, conditions, covenants, provisions and agreements
herein contained shall be binding upon and inure to the benefit of Landlord, and
Landlord's successors and assigns, and Tenant, Tenant's successor and assigns.

                                   ARTICLE XXI
                                     Renewal

     Section 21.01: Provided this Lease is in full force and effect and Tenant
shall not be in default hereunder beyond any applicable notice and grace period
as of the date the Initial Term expires, then Tenant shall have the right to
extend this Lease for two (2) successive twenty-five (25) year terms upon the
same terms and conditions as those of the Initial Term. Tenant shall notify
Landlord of its intention to renew not less than [nine (9) months] prior to the
expiration of the Initial Term.

                                  ARTICLE XXII
                                     Deposit

     INTENTIONALLY DELETED

                                  ARTICLE XXIII
                                  Miscellaneous

     Section 23.01. Failure on the part of other party to complain of any action
or non-

<PAGE>

action on the part of the other party, no matter how long the same may continue,
shall never be construed as a waiver either party of any of its rights
hereunder. No waiver at any of any of the provisions hereof by either party
shall be construed as a waiver of any of the other provisions hereunder and a
waiver at any time of any of the provisions hereof shall not be construed as a
waiver at any subsequent time of the same provisions.

     Section 23.02. It is agreed that if at any time a dispute shall arise as to
any, amount or sum of money to be paid by one party to the other under the
provisions hereof, the party against. whom the obligations to pay the money is
asserted shall have the right to make payment "under protest" and such payment
shah not be regarded as a voluntary payment and there shall survive the fight on
the part of said party to institute suit for the recovery of such and if it
shall be adjudged that there was no legal obligation the part of said party to
pay such sum or any part thereof, said party shall be entitled to recover such
sum or so much thereof it was not legally required to pay under the provisions,
of this Lease; if at any time a dispute shall arise between the parties hereto
as to any work to be performed by either of them under the provisions hereof,
the party against whom the obligation to perform the work is asserted may
perform such work and pay the cost thereof under protest and the performance of
such work shall in no event be regarded as a voluntary performance and there
shall survive the right on the part of said party to institute suit for the
recovery of the cost of such work, and if it shall be adjudged that there was no
legal obligation on the part of said party to perform the same or any part
thereof; said party shall be entitled to recover the cost of such work or the
cost of So much thereof as said party was not legally required to perform under
the provisions of this Lease.

     Section 23.03. Whenever by the terms of this Lease notice shall or may be
given either to Landlord or to Tenant, such notice shall be in writing mad shall
be sent by registered or certified mail, postage prepaid, or by recognized
overnight delivery service: If intended for Landlord, addressed to it at 1300
Post Road East, Westport, Connecticut 06880 (or to such other address or
addresses as may from time to time hereafter be designated by Landlord by like
notice). If intended for Tenant, addressed to it at: 1300 Post Road East,
Westport, Connecticut 06880 (or to such other address or addresses as may from
time to time hereafter be designated by Tenant by like notice). All such notices
shah be effective when deposited in the United States mail within the
Continental United States or with such recognized overnight delivery service,
provided that the same are received in the ordinary course at the address to
which the same were sent. Notice from an attorney acting or purporting to act on
behalf of a party shall be deemed to be notice from such party provided that
such attorney is authorized to act on behalf of such party.

     Section 23.04: This Lease shall be governed exclusively by the provisions
hereof and by the laws of the State of Connecticut.

     Section 24.02: Brokers. Landlord and Tenant warrant to each other that they
have had no dealings with any broker, agent or finder in connection with this
Lease. Both parties hereto agree to protect, indemnify and hold harmless the
other from and against any final judgment relating to compensation, commissions
and charges claimed

<PAGE>

by any broker, agent or finder not identified above with respect to this Lease
or the negotiation thereof that is made by reason of any action or agreement by
such party.

     Section 24.03. Attorney' s Fees. If on account of any default by Tenant in
Tenant's obligations under the terms of this Lease, it becomes necessary or
appropriate for Landlord to employ attorneys to enforce any of Landlord's rights
or remedies hereunder, Tenant shall pay as Additional Rent hereunder all
reasonable fees of such attorneys incurred in connection with any action to
enforce such rights and remedies in which the landlord prevails and all
reasonable costs so incurred. If on account of any default by Landlord of
Landlord' s obligations under this Lease, it becomes necessary or appropriate
for Tenant to employ attorneys to enforce Tenant's rights and remedies
hereunder, Landlord shall pay Tenant all reasonable attorney's fees incurred in
connection with any action to enforce such rights and remedies in which the
Tenant prevails and all reasonable costs so incurred.

     Section 24.04: Site Development. Landlord reserves the right to enter into
agreements necessary for shared parking and other shared amenities. Landlord
shall use all reasonable efforts to avoid disturbing or impairing Tenant's right
to quiet possession by virtue of any site development reserved hereunder.

     Section 24.05: No Merger. There shall be no merger of this Lease or of the
leasehold estate hereby created with the fee estate in the Premises or any part
thereof by reason of the fact that the same person may acquire or hold, directly
or indirectly, this Lease or the leasehold estate hereby created or any interest
in this Lease Or in such leasehold estate as well as the fee estate in the
leasehold Premises or any interest in such fee estate.

     Section 24.06: Severability. If any provision of this Lease or the
application thereof to any person or circumstance shall, to any extent, be
invalid or unenforceable, the remainder of this Lease, or the application of
such provision to persons or circumstances other than those as to which it is
invalid or unenforceable, shall not be affected thereby, and each provision of
this Lease shall be valid and enforceable to the full extent permitted by law.
No remedy or election hereunder shall be deemed exclusive, but shall wherever
possible, be cumulative with all other remedies at law or in equity. Neither
this Lease nor any term or provision hereof may be changed, waived, discharged
or. terminated orally, and no breach thereof shall be waived, altered or
modified, except by a written instrument signed by the party, against which the
enforcement of the change, waiver, discharge or termination is sought. Any fight
to change, waive, discharge, alter or modify, or terminate this Lease shall be
subject to the prior express written consent of Landlord's Mortgagee.

     Section 24.07: No Waiver. No waiver of any provision hereof shall be deemed
a waiver of any other provision hereof or of any subsequent breach of the same
or any other provision- No waiver of any breach shah affect or alter this Lease
but each and every term, covenant and condition of this Lease shall continue ha
full force and effect with respect to any other then existing or subsequent
breach thereof. No reference to any

<PAGE>

specific fight or remedy shall preclude the exercise of any other right or
remedy permitted hereunder or that may be available at law or in equity. No
failure by Landlord to insist upon the strict performance of any agreement,
term, covenant or condition hereof, or to exercise arty right or remedy
consequent upon a breach thereof, and no acceptance of full or partial rent
during the Continuance of any such breach, shall constitute a waiver of any such
breach, agreement, term, covenant or condition.

     Section 24.08: Bind and Inure. The terms, provisions, covenants and
conditions contained in this Lease shall bind and inure to the benefit of
Landlord and Tenant, and, except as otherwise provided herein, their respective
heirs, legal representatives, successors and assigns.

     Section 24.09: Landlord's Liability. The term "Landlord" as used herein and
throughout the Lease shall mean only the owner or owners at the time in question
of Landlord's interest in this Lease: Upon any transfer of such interest, from
and after the date of such transfer, Landlord herein named (and in case Of any
subsequent transfers the .then transferor) and each of its partners, principals,
shareholders, beneficiaries or co-tenants, as the case may be. ("Landlord's
Constituent Parties") shall be relieved of all liability for the performance of
any obligation on the part of the Landlord contained in this Lease, provided
that any monies in the hands of Landlord or the then transferor at the time of
such transfer, in which Tenant has an interest, shall be delivered to the
transferee.

     The obligations contained in this Lease .to be performed by Landlord shall
be binding on Landlord's successors .and assigns, only during their respective
periods of ownership, provided, however, that Landlord and each of Landlord's
Constituent Parties shall be under no personal liability with respect to any of
the provisions, covenants or agreements of this Lease. If Landlord becomes
obligated to pay Tenant a money judgment arising out of any failure by Landlord
to perform any of its obligations under this Lease, Tenant shall be limited, for
the satisfaction of the money judgment solely to Landlord's interest in the
Building and no other property or assets of Landlord or Landlord's Constituent
Parties shall be subject to levy, ex0oution or other .enforcement procedure
whatsoever for the satisfaction of the money judgment.

     Section 24.10: Interpretation. The words "Landlord" and "Tenant" as used
herein shall include the plural as well as the singular. The words used in
neuter gender include the masculine and feminine. If there is more than one
Tenant, the obligations under this Lease imposed on Tenant shall be joint and
several. The captions preceding the articles of this Lease have been inserted
solely as a matter of convenience and such captions in no way define or limit
the scope or intent of any provision of this Lease.

     Section 24.11. Force Majeure. Landlord shall be excused for the period of
any delay in the performance of any obligations hereunder, when prevented from
so doing by cause or causes beyond Landlord's control including, without
limitation, civil commotion, war, labor disputes or strikes, governmental
regulations or controls, inspection delays by governmental authorities, delays
in obtaining governmental permits not occasioned by Landlord's delays, mistakes,
errors or omissions, inability to obtain may material or

<PAGE>

services, casualty, acts of God, or the elements. Tenant shall similarly be
excused for delay in the performance of obligations hereunder provided: (a)
nothing contained in this Section or elsewhere in this Lease shall be deemed to
excuse or permit arty delay in the payment of any sums of money required
hereunder, or any delay in the cure of any default which may be cured by the
payment of money; (b) no reliance by Tenant upon this Section shall limit or
restrict in any way Landlord's .right of self-help as provided in this Lease;
and (e) Tenant shall not be entitled to rely upon this Section unless ,it shall
advise Landlord in writing, of the existence of any force majeure preventing the
performance of an obligation of Tenant promptly after the commencement of the
force majeure.

     Seefi0n 24.12: Joint and Several. If two or more individuals, corporations,
partnerships or other business associations (or any combination of two or more
thereof) shall sign this Lease as Tenant, the liability of each such individual,
corporation, partnership or other business association to pay Rent mad perform
all other obligations hereunder shall be deemed to be joint and several.

     Section 24.13: Entire Agreement. This Lease, including the Exhibits hereto,
which are made part of this Lease, contain the entire agreement of the parties
and all prior negotiations and agreements are merged herein. Neither Landlord
nor Landlord's agents have made any representations or warranties with respect
to the Premises, the Building or this Lease except as expressly set forth
herein, and no rights, easements or licenses are or shall be acquired by Tenant
by implication or otherwise unless expressly set forth herein. Tenant covenants
and agrees that no diminution of light, air or view by any structure that may
hereafter be erected (whether or not by Landlord) shall entitle Tenant to any
reduction of Annual Base Rent or Additional Rent under this Lease, result in any
liability of Landlord or Tenant, or in any other way affect this Lease or
Tenant's obligations hereunder.

     Section 24.14: Authority. If Tenant signs as a corporation or a
partnership, or a limited liability company each person executing this Lease on
behalf of Tenant hereby covenants and warrants that Tenant is a duly authorized,
and existing entity, that Tenant is duly qualified to do businesses Connecticut,
that Tenant has full right and authority to enter into this Lease, and that each
person signing on behalf of Tenant is duly authorized to do so and that no other
signatures are necessary. Upon Landlord's request, Tenant shall provide Landlord
with evidence reasonably satisfactory to Landlord confirming the foregoing
covenants and warranties.

     Section 24.15. Memorandum of Lease. This Lease shall not be recorded, but,
the parties shall simultaneously with the execution of this Lease, enter into a
short form memorandum of lease in the form of Exhibit__ attached hereto (the
"'Memorandum of Lease"), which may be recorded by either, party at its expense.

     IN WITNESS WHEREOF, the parties hereto have caused their hands and seals to
be set on the date first above written.

<PAGE>

Signed, sealed and delivered in the presence of:

                                            WILTON EXECUTIVE CAMPUS ASSOCIATES

                                            By:
                                            Stephen J. Saft
                                            Its General Partner
                                            Hereunto Duly Authorized

                                            WILTON CAMPUS PROPERTIES, LLC

                                            By:
                                            Albert J. Kleban
                                            Its Manager
                                            Hereunto Duly Authorized

STATE OF CONNECTICUT)
                    ) SS-
COUNTY OF FAIRFIELD )

Personally appeared Stephen J. Saft, a General Partner of WILTON EXECUTIVE
ASSOCIATES, signer and sealer of the foregoing instrument who acknowledged the
same to be his free act and deed as such General Partner, and the free act and
deed of said WILTON EXECUTIVE CAMPUS ASSOCIATES, before me.

STATE OF CONNECTICUT)
                    ) SS-
COUNTY OF FAIRFIELD )

     Personally appeared Albert A. Kleban, Manager of WILTON CAMPUS PROPERTIES,
LLC, signer and sealer of the foregoing instrument who acknowledged the same to
be his free act and deed as such General Partner, and the free act and deed of
said WILTON CAMPUS PROPERTIES LLC, before me.
<PAGE>

                                    EXHIBIT A

All that certain tract, piece or parcel of land situated, lying and being in the
Town of Wilton, County of Fairfield and State of Connecticut, said parcel being
made particularly bounded and described as follows:

Beginning at a point on a westerly street line of River Road, said point located
an arc distance of 47.48 feet measured southerly along said street line from the
intersection of the division line between land of Wilton Shopping Center Limited
Partnership and land of Wilton Executive Campus Associates, then running
southerly along said westerly street line the following courses:

      An arc length of 45.31 feet along a circular curve to the left having a
radius of 560.00 feet.

      South 1(degree)59'36" East, a distance of 278.87 feet.

then turning and running through land of Wilton Executive Campus Associates the
following courses:

      North 89(degree)17'31" West, a distance of 125.14 feet,
      North 1(degree)56'36" West, a distance of 252.32 feet,
      North 66(degree)53'00" West, a distance of 88.48 feet,
      North 23(degree)07'00" East, a distance of 10.00 feet,
      North 66(degree)53'00" West, a distance of 93.00 feet,
      North 23(degree)07'00" East, a distance of 103.50 feet,
      South 66(degree)53'00" East, a distance of 268.36 feet

to the point or place of beginning, containing 1.3911 Acres, more or less.

<PAGE>

                                    EXHIBIT B

ALL THAT CERTAIN piece, parcel or tract of land, together with the buildings and
improvements thereon, situated in the Town of Wilton, County of Fairfield and
State of Connecticut, shown and designated as "Wilton Executive Campus
Associates Parcel "A" 12.1986 Acres" on that certain map entitled "Map Showing
Property Survey in Wilton, Connecticut Prepared For Wilton Executive Campus
Associates Wilton Shopping Center, Limited Partnership" by Rocco V. D'Andrea,
Inc. and dated January 8, 1998, January 27, 1998, October 26, 1998 and November
5, 1998, which map is on file in the Office of the Town Clerk of the Town of
Wilton as map numbered 5158.

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