<PAGE>

                                                                   EXHIBIT 10.14

THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE
TRANSFERRED UNLESS THE COMPANY HAS RECEIVED A WRITTEN OPINION FROM COUNSEL IN
FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY STATING THAT SUCH TRANSFER IS
BEING MADE IN COMPLIANCE WITH ALL APPLICABLE FEDERAL AND STATE SECURITIES LAWS.
THE TRANSFER OF THE SECURITIES REPRESENTED BY THIS INSTRUMENT IS SUBJECT TO
TRANSFER RESTRICTIONS, OBLIGATIONS AND OTHER CONDITIONS SPECIFIED IN THE AMENDED
AND RESTATED SHAREHOLDER AGREEMENT DATED AS OF JUNE 2, 1997, AND AS AMENDED FROM
TIME TO TIME, AMONG THE COMPANY AND ITS SHAREHOLDERS.

No. W-__

                         COMMON STOCK PURCHASE WARRANT

                 To Subscribe for and Purchase Common Stock of

                                  TOTAL LTD.

     THIS CERTIFIES that, for value received, [_________________], or registered
permitted assigns, is the owner of _______ Warrants (subject to adjustment in
accordance with the provisions hereof), each of such Warrants entitling such
Holders to subscribe for and purchase from TOTAL LTD., a North Carolina
corporation (the "Company"), at the price of $0.01 per share (the "Exercise
                  -------                                          --------
Price"), at any time commencing on the date determined under Section 2(a) until
-----
5:00 p.m., Charlotte, North Carolina, time, on June 2, 2007, one fully paid and
nonassessable share (the "Exercise Rate") of the Company's Common Stock, par
                         ---------------
value $.001 per share (the "Common Stock") (subject to adjustment as noted
                            ------------
below) per each Warrant. This Common Stock Purchase Warrant shall be referred to
herein as the "Common Stock Purchase Warrant," and the Warrants represented by
               -----------------------------
this Common Stock Purchase Warrant shall be referred to herein as "Warrants."
This Common Stock Purchase Warrant is subject to the following provisions, terms
and conditions:

     Section 1. Definitions. Unless otherwise defined herein, capitalized terms
used herein shall have the meaning given such terms below. Capitalized terms
used herein and not defined shall have the meanings set forth in the Investment
Agreement (as defined below).

     "Additional Shares of Common Stock" shall mean the following but shall not
      ---------------------------------
include the Excluded Shares: (i) all Common Stock of the Company, (ii) any
additional class of stock having the right to dividends or distributions on
liquidation (other than preferred stock the redemption right of which is limited
to the repayment of the purchase price therefor and reasonable dividends
thereon), which may be authorized in the future by amendment to the Company's
articles of incorporation, (iii) any debt or equity security which has or may be
issued in lieu of or in substitution or exchange for any of the foregoing or
which has or may be issued upon the exercise, exchange or conversion of any of
the foregoing by its terms, and (iv) any debt or equity security which has or
may be issued by a third party in lieu of or in substitution for any of the
foregoing as a result of any merger of the Company into such third party.

     "Convertible Securities" shall mean evidences of indebtedness, shares of
      ----------------------
stock or other securities which are convertible into or exchangeable, with or
without payment of additional consideration, for Additional Shares of Common
Stock.
<PAGE>

     "Excluded Shares" shall mean shares of Common Stock issued or to be issued
      ---------------
upon exercise of the Warrants issued to each of the Holders and represented by a
Common Stock Purchase Warrant and shares of Common Stock issued or to be issued
upon exercise of options issued pursuant to the option plan in existence on the
date of closing or approved by the Board of Directors at any time subsequent
thereto.

     "Extraordinary Event" shall mean a reorganization, initial public offering,
      -------------------
merger, sale of all assets, or sale of substantially all assets of the Company.

     "Holder" or "Holders" shall mean Daniels and Piedmont and any registered
      ------      -------
permitted assignee thereof.

     "Investment Agreement" shall mean that certain Investment Agreement by and
      --------------------
among the Company, Piedmont and Daniels dated as of June 2, 1997.

     "Market Price" shall mean $3.42 per share as adjusted equitably by the
      ------------
Board of Directors in the event of a recapitalization, reclassification,
reorganization, consolidation, merger, split or comparable transaction.

     "Notice of Exercise" shall mean a notice which states (i) the number of
      ------------------
Warrants a Holder intends to exercise, (ii) the persons (who must be permitted
assigns) (the "Recipients") who shall receive the shares of stock represented by
               ----------
the Warrants to be exercised, (iii) the addresses of Recipients, and (iv) the
number of certificates to be issued to represent the shares of stock issued as a
result of the exercise of Warrants.

     "Person" shall mean an individual, a trust, an estate, a domestic
      ------
corporation, a foreign corporation, a partnership, a limited partnership, a
limited liability company, a foreign limited liability company, an
unincorporated association, or other entity.

     "Securities Act" shall mean the Securities Act of 1933, as amend the
      --------------
regulations promulgated thereunder.

Section 2. Exercise of Warrants.

     (a)  The Warrants may be exercised by the Holders, in whole or in part from
time to time after the Closing but not prior to the occurrence of an
Extraordinary Event nor subsequent to 5:00 P.M. ET, June 2, 2007 (the "Exercise
                                                                       --------
Period") and during the Exercise Period by the surrender of this Common Stock
------
Purchase Warrant at, and delivery of a Notice of Exercise to, the offices of the
Company at the address set forth in the Investment Agreement, or such other
office or agency of the Company in the United States as the Company may
designate by notice in writing at any time during the Exercise Period,
accompanied by payment to the Company of the Exercise Price for the number of
shares for which the Warrants are then being exercised. The Exercise Price shall
be payable, at the option of the Holder, (i) by certified or bank check, or (ii)
by the surrender of that certain number of Warrants having a Market Price equal
to the Exercise Price. The Company agrees that the shares so purchased shall be
deemed to be issued to the Holder as the record owner of such shares as of the
close of business on the date of exercise of the Warrants. Duly executed
certificates for the shares of stock so purchased shall be delivered to the
Holder hereof within five business days after such exercise. Unless this Common
Stock Purchase Warrant has expired or been exercised in full, a

                                       2
<PAGE>

notation on this Common Stock Purchase Warrant stating the number of shares
exercised shall be made by the Company and this Common Stock Purchase Warrant
shall then be returned to the Holder within five business days. The issuance of
certificates for shares of Common Stock upon the exercise of this Warrant shall
be made without charge to the Holder for any cost or expense (including any
original issue or transfer tax).

     (b) The Exercise Price and Exercise Rate shall be subject to the following
adjustments:

               (i)   If, at any time during the Exercise Period, the Company
          shall declare and pay on the Common Stock a dividend or other
          distribution payable in shares of Common Stock, the Exercise Rate in
          effect at the time of taking of a record for such dividend shall be
          proportionately increased so that the Holder shall be entitled to
          receive the number of shares of Common Stock which such Holder would
          have owned or been entitled to receive after the declaration and
          payment of such dividend or other distribution if the Warrants had
          been exercised immediately prior to the record date for the
          determination of stockholders entitled to receive such dividend or
          other distribution, and the Exercise Price shall be proportionately
          decreased so that the aggregate Exercise Price payable upon exercise
          in full of the Warrants shall remain the same.

               (ii)  If the Company shall subdivide the outstanding shares of
          Common Stock into a greater number of shares, or combine the
          outstanding shares of Common Stock into a lesser number of shares, or
          issue by reclassification of its shares of Common Stock any other
          shares of the Company's capital stock, the Exercise Rate in effect
          immediately prior thereto shall be proportionately adjusted so that
          the Holder shall be entitled to receive the number of shares of Common
          Stock or such other shares which such Holder would have owned or been
          entitled to receive after the happening of any of the events described
          above if the Warrants had been exercised immediately prior to the
          happening of such event on the day upon which such subdivision,
          combination or reclassification, as the case may be, becomes
          effective, and the Exercise Price shall be proportionately adjusted so
          that the aggregate Exercise Price payable upon exercise in full of the
          Warrants represented by this Common Stock Purchase Warrant shall
          remain the same.

               (iii) If the Company shall issue (other than as provided in
          subparagraph 2(b)(i) or 2(b)(ii) and other than Excluded Shares) or
          sell any Additional Shares of Common Stock for a consideration per
          share less than the Market Price, then at the time of such issuance or
          sale the Exercise Rate shall be adjusted to the number determined by
          multiplying the Exercise Rate in effect immediately prior to such
          issuance or sale by a fraction, the numerator of which shall be the
          number of shares of Common Stock outstanding (including Excluded
          Shares), whether issued or issuable upon conversion or exercise,
          immediately prior to the issuance or sale of such Additional Shares of
          Common Stock plus the number of such Additional Shares of Common Stock
          so issued or sold, and the denominator of which shall be the number of
          shares of Common Stock outstanding (including Excluded Shares),
          whether issued or issuable upon conversion or exercise, immediately
          prior to the issuance or sale of such Additional Shares of Common
          Stock plus the number of shares of Common Stock which the aggregate
          consideration for such Additional Shares of Common Stock so issued or
          sold would purchase at a consideration per

                                       3
<PAGE>

          share equal to the Market Price. The Exercise Price shall be
          appropriately adjusted by multiplying the Exercise Price at the close
          of business on the date of such issuance or sale by the reciprocal of
          the fraction described above.

               (iv) If the Company shall issue (other than as provided in
          subparagraph 2(b)(i) or 2(b)(ii) and other than Excluded Shares) or
          sell any warrants, options or other rights entitling the Holders
          thereof to subscribe for or purchase either Additional Shares of
          Common Stock or Convertible Securities, and the consideration per
          share for which Additional Shares of Common Stock may at any time
          thereafter be issuable pursuant to such warrants, options or other
          rights or such Convertible Securities (when added to the consideration
          per share of Common Stock, if any, received for such warrants, options
          or other rights), shall be less than the Market Price then in effect,
          then the Exercise Rate shall be adjusted to the number determined by
          multiplying the Exercise Rate in effect immediately prior to such
          issuance or sale by a fraction, the numerator of which shall be the
          number of shares of Common Stock outstanding (including Excluded
          Shares), whether issued or issuable upon conversion or exercise,
          immediately prior to the issuance or sale of such warrants, options or
          other rights plus the number of additional shares of Common Stock
          issuable upon the exercise of such warrants, options or other rights,
          and of which the denominator shall be the number of shares of Common
          Stock outstanding (including Excluded Shares), whether issued or
          issuable upon conversion or exercise, immediately prior to the
          issuance or sale of such warrants, options or other rights plus the
          number of shares which the aggregate offering price of the total
          number of Additional Shares of Common Stock so offered (when added to
          the consideration per share of Common Stock, if any, received for such
          warrants, options or other rights) would purchase at the Market Price
          then in effect. The Exercise Price shall be appropriately adjusted by
          multiplying the Exercise Price at the close of business on the date of
          such issuance or sale by the reciprocal of the fraction described
          above.

               (v) If the Company shall issue (other than as provided in
          subparagraph 2(b)(i) or 2(b)(ii) and other than Excluded Shares) or
          sell Convertible Securities and the consideration per share for which
          Additional Shares of Common Stock may at any time thereafter be
          issuable pursuant to the terms of such Convertible Securities shall be
          less than the Market Price then in effect, then the Exercise Rate
          shall be adjusted to the number determined by multiplying the Exercise
          Rate in effect immediately prior to such issuance or sale by a
          fraction, the numerator of which shall be the number of shares of
          Common Stock outstanding (including Excluded Shares), whether issued
          or issuable upon conversion or exercise, immediately prior to the
          issuance or sale of such Convertible Securities plus the number of
          Additional Shares of Common Stock issuable upon the exercise of such
          Convertible Securities, and of which the denominator shall be the
          number of shares of Common Stock outstanding (including Excluded
          Shares), whether issued or issuable upon conversion or exercise,
          immediately prior to the issuance or sale of such Convertible
          Securities plus the number of shares which the aggregate conversion or
          exercise price of the total number of Additional Shares of Common
          Stock so offered would purchase at the Market Price then in effect.
          The Exercise Price shall he appropriately adjusted by multiplying the
          Exercise Price at the close of business on the date of such issuance
          or sale by the reciprocal of the fraction described above. No
          adjustment of the Exercise

                                       4
<PAGE>

          Rate shall be made under this subparagraph 2(b)(v) upon the issuance
          of any Convertible Securities which are issued pursuant to the
          exercise of any warrants, options or other rights, if such adjustment
          shall previously have been made upon the issuance of such warrants,
          options or other rights pursuant to subparagraph 2(b)(iv).

               (vi) For the purposes of subparagraphs 2(b)(iii), 2(b)(iv) and
          2(b)(v), the date as of which the Market Price shall be computed shall
          be the earlier of (x) the date on which the Company shall enter into a
          firm contract for the issuance of such Additional Shares of Common
          Stock, warrants, options or other rights or Convertible Securities,
          and (y) the date of the actual issuance of such Additional Shares of
          Common Stock, warrants, options or other rights or Convertible
          Securities.

               (vii) No adjustment of the Exercise Rate shall be made under
          subparagraph 2(b)(iii) upon the issuance of any Additional Shares of
          Common Stock which are issued pursuant to the exercise of any
          warrants, options or other rights or pursuant to the conversion of
          Convertible Securities, if such adjustment shall previously have been
          made upon the issuance of such warrants, options or other rights or
          Convertible Securities, pursuant to subparagraphs 2(b)(iv) or 2(b)(v).

               (viii) If any warrants, options or other rights (or any portion
          thereof) which shall have given rise to an adjustment pursuant to
          subparagraph 2(b)(iv) or conversion or exchange rights pursuant to
          Convertible Securities which shall have given rise to an adjustment
          pursuant to subparagraph 2(b)(v) shall have expired or terminated
          without the exercise thereof, or if by reason of the terms of such
          warrants, options or other rights or Convertible Securities there
          shall have been an increase or increases, with the passage of time or
          otherwise, in the exercise or conversion price thereof, then the
          Exercise Rate hereunder shall be readjusted (but to no greater extent
          than originally adjusted) on the basis of (x) eliminating from the
          computation of any Additional Shares of Common Stock shares of Common
          Stock attributable to such warrants, options or other rights or
          conversion or exchange rights as shall have expired or terminated, and
          (y) treating the Additional Shares of Common Stock, if any, actually
          issued pursuant to the previous exercise of such warrants, options or
          other rights or conversion or exchange rights pursuant to any
          Convertible Securities as having been issued for the consideration
          actually received and receivable therefor. In the event of any such
          readjustment, an appropriate adjustment shall be made to the Exercise
          Price.

               (ix) (A) In any such case covered by this paragraph 2(b), in
          determining the amount of consideration received by the Company as a
          result of the issuance of Additional Shares of Common Stock,
          Convertible Securities or warrants, options or other rights to
          purchase any such Additional Shares of Common Stock, if the
          consideration is in whole or in part consideration other than cash,
          the amount of the consideration shall be deemed to be the fair value
          of such consideration as reasonably determined by the board of
          directors of the Company. If Additional Shares of Common Stock shall
          be issued as part of a unit with warrants, options or other rights,
          then the amount of consideration for the warrants, options or other
          rights shall be deemed to be the amount reasonably determined by the
          board of directors of the Company.

                                       5
<PAGE>

               (B)   In case any Additional Shares of Common Stock, Convertible
          Securities or any options, warrants or other rights to purchase such
          Additional Shares of Common Stock or Convertible Securities shall be
          issued in connection with any merger or consolidation in which the
          Company is the surviving corporation, the amount of consideration
          therefor shall be deemed to be the fair value, as reasonably
          determined by the board of directors of the Company, of such portion
          of the assets and business of the nonsurviving corporation or
          corporations as the board shall determine to be attributable to such
          Additional Shares of Common Stock, Convertible Securities or warrants,
          options or other rights to purchase such Additional Shares of Common
          Stock or Convertible Securities.

               (x)   In case the Company shall effect a reorganization, an
          initial public offering, shall merge with or consolidate into another
          corporation, or shall sell, transfer or otherwise dispose of all or
          substantially all its property, assets or business (an "Extraordinary
          Event") and, pursuant to the terms of such Extraordinary Event the
                                                     -------------------
          Holders shall have the right thereafter to receive, upon subsequent
          exercise of the Warrants the number of shares of stock or other
          securities, property or assets of the Company, successor or transferee
          or other third party thereof or cash receivable upon or as a result of
          such Extraordinary Event equal to the number of shares of Common Stock
          issuable to each of the Holders as if the Warrants had been exercised
          immediately prior to such event. The provisions of this subparagraph
          2(b)(x) shall similarly apply to successive reorganizations, mergers,
          consolidations or dispositions of assets.

               (xi)  If a purchase, tender or exchange offer is made to and
          accepted by a majority of the outstanding shares of Common Stock, the
          Company shall not effect any consolidation, merger or sale with the
          Person having made such offer or with any affiliate of such Person,
          unless prior to the consummation thereof the Holders shall have been
          given a reasonable opportunity to elect to receive, upon exercise or
          exchange of the Warrants either the stock, securities, cash or assets
          then issuable with respect to the Common Stock or the stock,
          securities, cash or assets issued to previous Holders of the Common
          Stock in accordance with such offer, or the equivalent thereof.

               (xii) If a state of facts shall occur which, without being
          specifically controlled by the provisions of this paragraph 2(b),
          would not fairly protect the exercise rights of the Holders in
          accordance with the essential intent and principles of such
          provisions, then the board of directors of the Company shall make an
          adjustment in the application of such provisions, in accordance with
          such essential intent and principles, so as to protect those Warrant
          rights.

               (xiii) Whenever the Exercise Rate and Exercise Price shall be
          adjusted pursuant to this paragraph 2(b), the Company shall deliver to
          each Holder a written notice setting forth in reasonable detail the
          event requiring the adjustment and the method by which such adjustment
          was calculated (including a description of the basis on which the
          board of directors of the Company determined the fair value of any
          consideration other than cash pursuant to subparagraph 2(b)(ix)) and
          specifying the new Exercise Rate and Exercise Price. All calculations
          under this paragraph 2(b) shall be made to the nearest one-one
          hundredth of a share. In the case referred to in

                                       6
<PAGE>

          subparagraph 2(b)(x), such notice shall be issued describing the
          amount and kind of stock, securities, property or assets or cash which
          shall be receivable upon exercise of this Warrant.

               (xiv) The Company shall at all times reserve and keep available,
          free from preemptive rights, out of its authorized but unissued shares
          of Common Stock, solely for the purpose of effecting the exercise of
          the Warrants, the full number of shares of Common Stock then
          deliverable upon the exercise of the Warrants. The Company shall take
          at all times such corporate action as shall be necessary in order that
          the Company may validly and legally issue fully paid and nonassessable
          shares of Common Stock upon the exercise of the Warrants in accordance
          with the provisions hereof, free from all taxes, liens, charges and
          security interests. The Company represents to the Holders that the
          shares of Common Stock issuable upon the exercise of the Warrants
          will, when issued, be duly authorized, validly issued, fully paid and
          nonassessable. The Company will, at its expense, use its best efforts
          to cause such shares to be listed (subject to issuance or notice of
          issuance) on all stock exchanges, if any, on which the Company's
          Common Stock may become listed.

     Section 3. Dividends and Distributions. For so long as any part of this
Common Stock Purchase Warrant remains outstanding and unexercised, the Company
will, upon the declaration of a cash dividend upon its Common Stock or other
distribution to the Holders of its Common Stock (except distributions pursuant
to subparagraph 2(b)(x) hereof) and at least 30 days prior to the record date,
notify the Holder hereof of such declaration, which notice will contain, at a
minimum, the following information: (a) the date of the declaration of the
dividend or distribution, (b) the amount of such dividend or distribution, (c)
the record date of such dividend or distribution, (d) the payment date or
distribution date of such dividend or distribution, and (e) the Company's best
estimate of the frequency and amount of cash dividends or other distributions to
be paid or made in each of the succeeding three years.

     Section 4. Transfer of Warrants. This Common Stock Purchase Warrant and all
rights hereunder are transferable to permitted assigns pursuant to the Amended
and Restated Shareholder Agreement and the Amended and Restated Articles of
Incorporation, in whole or in part, at the office or agency of the Company
referred to in paragraph 8 hereof, by the Holder hereof in person or his duly
authorized attorney, upon surrender of this Common Stock Purchase Warrant
properly endorsed.

     Section 5. Exchanges of Warrants. This Common Stock Purchase Warrant is
exchangeable, upon the surrender hereof by the Holder hereof at the office of
the Company, for   new Common Stock Purchase Warrants of like tenor representing
in the aggregate the right to subscribe for and purchase the number of shares
which may be subscribed for and purchased hereunder.

     Section 6. Expiration and Redemption of Warrants. This Common Stock
Purchase Warrant shall expire upon the occurrence of a Liquidating Event (as
defined in the Amended and Restated Articles of Incorporation of Total Ltd.
dated June 2, 1997). This Common Stock Purchase Warrant is subject to redemption
pursuant to the Amended and Restated Articles of Incorporation of Total Ltd.
dated June 2, 1997.

     Section 7. Remedies. In the event of any default or threatened default by
the Company in the performance of or compliance with any of the terms of this
Common Stock Purchase Warrant

                                       7
<PAGE>

remedies at law are not and will not be adequate for the Holders, and that such
terms may be specifically enforced by a decree for the specific performance of
any agreement contained herein or by an injunction against a violation of any of
the terms hereof or otherwise.

     Section 8. Notices. Except as otherwise provided herein, any notices
hereunder shall be deemed to have been received (a) when delivered, if
personally delivered or sent via facsimile, or (b) one day following delivery to
a nationally recognized overnight courier or (c) on the third business day
following the date on which the piece of mail containing such communication is
posted, if sent by certified or registered mail, return receipt requested, in
each case addressed, if given to the Company, to the principal office of the
Company, Attention: President, or, if given to a Holder, addressed to such
Holder at his address as the same shall appear on the books of the Company.

     Section 9. Governing Law. This Common Stock Purchase Warrant shall be
governed by and construed in accordance with the laws of the State of North
Carolina.

     Section 10. Headings. The headings of the Sections of this Common Stock
Purchase Warrant are inserted for convenience only and shall not be deemed to
constitute a part hereof.

     Section 11. Severability. If any provision or any portion of any provision
of this Common Stock Purchase Warrant shall be held to be void or unenforceable,
the remaining portions of this Common Stock Purchase Warrant shall continue in
full force and effect.

               [Remainder of this page intentionally left blank.]

                                       8
<PAGE>

     IN WITNESS WHEREOF, the Company has caused this Common Stock Purchase
Warrant to be signed by one of its duly authorized officers under its corporate
seal and attested, and this Common Stock Purchase Warrant to be dated as of June
2, 1997.

                              COMPANY:

ATTEST:                       TOTAL LTD.
                                    A North Carolina corporation


                              By:
_______________________             ____________________________________
Larry E. Robbins                    Frank A. Daniels, III
Assistant Secretary                 Chief Executive Officer

(Corporate Seal)

                                       9
<PAGE>

                                 PURCHASE FORM
                                 -------------

                                              Dated _________, 19___

     The undersigned hereby irrevocably elects to exercise the within Warrant in
order to purchase _____ shares of Common Stock issuable hereunder and hereby
(circle one):

     1.   makes payment of $ ____ in payment of the Exercise Price thereof;

     2.   elects to surrender the number of Warrants having a Market Price equal
          to the Exercise Price.

                                  __________

                                ASSIGNMENT FORM
                                ---------------

     FOR VALUE RECEIVED, __________________________ hereby sells, assigns and
transfers unto

Name:___________________________________________________________________________
                    (please type or print in block letters)

Address:________________________________________________________________________

its rights to purchase ____ shares of Common Stock as represented by this
Warrant and does hereby irrevocably constitute and appoint _____________,
Attorney, to transfer the same on the books of the Company, with full power of
substitution in the premises.


Date__________ , 19___

                                    Signature___________________________________

                                       10