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Forbearance Agreement

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EXHIBIT 10.1


FORBEARANCE AGREEMENT
(with Release Provision)


AGREEMENT effective the 28th day of August, 2001 by and between BERKSHIRE INDUSTRIAL CORPORATION, hereinafter referred to as "BERKSHIRE", and CYBERIAN OUTPOST, INC., hereinafter referred to as "OBLIGOR".


WHEREAS, BERKSHIRE is the owner of record of certain premises at 6 Berkshire Boulevard, a/k/a as 17,000 square feet space in Building Number 8, Berkshire Corporate Park, in the Town of Bethel, County of Farifield and State of Connecticut (the "demised premises");


WHEREAS, On or about September 9, 1999, by written lease (the "lease"), BERKSHIRE leased the demised premises to the OBLIGOR, CYBERIAN OUTPOST, INC.;


WHEREAS, the OBLIGOR entered into possession of the demised premises pursuant to the lease;


WHEREAS, the OBLIGOR in default of the lease;


WHEREAS, BERKSHIRE has commenced an action in summary process to recover possession of the demised premises, which action is pending in the Superior Court for the Judicial District of Danbury, G.A.#3.


WHEREAS, the OBLIGOR is liable to BERKSHIRE for damages under the lease.


WHEREAS, BERKSHIRE has exercised its right to recover possession of the demised premises, and has retained legal counsel to enforce its rights under the lease.


WHEREAS, BERKSHIRE is prepared to obtain judgment in said summary process action pending in the Superior Court for the Judicial District of Danbury, G.A.#3;


WHEREAS, BERKSHIRE has the right and is prepared to commence an action for money damages against the OBLIGOR for the OBLIGOR'S breach of the lease;


1


WHEREAS, OBLIGOR wishes BERKSHIRE to forestall any further legal action against OBLIGOR;


WHEREAS, BERKSHIRE is willing to forestall further legal action against OBLIGOR in return for OBLIGOR'S promises contained herein which are satisfactory and acceptable to BERKSHIRE; and


WHEREAS, the parties wish to confirm their agreements.


WHEREFORE, in consideration of the mutual promises, covenants and untakings contained herein, it is agreed that:


1. OBLIGOR shall vacate the demised premises for possession by BERKSHIRE on or before 12:00 o'clock p.m. on September 14, 2001, time being of the essence. Thereafter, the OBLIGOR shall have no further rights of possession under the lease or operation of law; and BERKSHIRE shall be released from any further performance or obligation under the lease.


2. Upon the execution of this Agreement by OBLIGOR, OBLIGOR shall tender to BERKSHIRE the sum of twenty thousand dollars ($20,000.00) in good funds.
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