Document:

PLEDGE AGREEMENT

     THIS PLEDGE  AGREEMENT  (this  "Agreement") is made as of July 26, 1996 and
effective as of July 31, 1996, between ENVIROMETRICS a Delaware corporation (the
"Creditor"), and Andrew C. Gillette, a South Carolina resident ("Gillette").

                                    RECITALS:

     A. Trico  Envirometrics,  Inc., a South Carolina corporation (the "Debtor")
is currently indebted to the Creditor in an approximate  aggregate amount of Six
Hundred  Thousand  Dollars  ($600,000.00  US), which  indebtedness is subject to
increase (as such may change from time to time, the  "Indebtedness")  and is now
evidenced  by a certain  Promissory  Note of even date  herewith in favor of the
Creditor (the "Note").

     B. Concurrent  herewith,  Gillette is purchasing from the Creditor pursuant
to a certain  Stock  Purchase  Agreement  of even date,  all of the  outstanding
shares of common  stock of the Debtor for a purchase  price of 45,000  shares of
Envirometrics, Inc. common stock. The Creditor has agreed to sell such stock for
such price to Gillette subject to, among other conditions,  Gillette's executing
and delivering this Agreement to the Creditor.

     C. To induce the Creditor to sell to Gillette all of the outstanding shares
of common stock of the Debtor for such purchase price, Gillette wishes to pledge
to the Creditor all of his interest in Trico Envirometrics, Inc.. and to options
to the  purchase of shares of common stock of the Creditor to secure (i) payment
of the  Indebtedness,  and (ii) performance of all of the respective  covenants,
obligations  and agreements of each of the Debtor and Gillette,  as set forth in
the documents  evidencing,  securing the  repayment  of,  executed in connection
with,  or otherwise  related to the  Indebtedness  or sale of stock to Gillette,
including without limitation,  the Stock Purchase  Agreement,  the Unconditional
Guarantee Agreement, the Promissory Note, this Agreement, the Security Agreement
and the  Accounting  Services  Agreement,  all of even  date  (collectively,  as
hereafter  amended,  modified,  extended  or  renewed  from  time to  time,  the
"Transaction  Documents") all according to the terms and conditions  hereinafter
set forth.

                                   AGREEMENT:

     NOW,  THEREFORE,  in consideration of the  representations,  warranties and
covenants  herein set  forth,  and other good and  valuable  consideration,  the
receipt and sufficiency of which are hereby  acknowledged,  and as an inducement
to the  Creditor to sell all of the issued and  outstanding  common stock of the
Debtor to Gillette, the parties hereby covenant and agree as follows:

     1.  Method  and Terms of Pledge.  To secure  (i) the  payment of all of the
Indebtedness,   and  (ii)  performance  of  all  of  the  respective  covenants,
obligations  and agreements of each of the Debtor and Gillette,  as set forth in
the Transaction Documents, or

     any of them  (collectively,  the  "Obligations"),  Gillette hereby pledges,
assigns  and  grants  a  security  interest  in  all of his  interest  in  Trico
Envirometrics  Inc.  stock and to options to purchase  shares of common stock of
the Creditor (together with any other securities  substituted therefor or issued
in  addition  thereto  as herein  provided,  the  "Pledged  Securities")  to the
Creditor. The term "Obligations" shall include all Obligations,  whether matured
or un-matured, or absolute or contingent, and whether they are from time to time
reduced, increased, or entirely extinguished and thereafter reincurred. The term
"Obligations" shall further include,  without  limitation,  all liability of the
Debtor to the  Creditor,  whether now or  hereafter  incurred;  whether  direct,
indirect,  or  contingent;  whether  incurred  as primary  debtor,  co-maker  or
guarantor; whether otherwise guaranteed or secured; and whether on open account,
evidenced  by an  instrument  or  otherwise.  Immediately  after  execution  and
delivery of this Agreement,  Gillette will deposit or cause to be deposited with
the  Creditor  a  certificate  in  Gillette's  name   representing  the  Pledged
Securities' or common stock  certificates  if pledged  options are exercised or,
with stock  powers duly  endorsed in blank,  and the Creditor  will  acknowledge
receipt thereof.

     2.  Representations  and  Warranties of Gillette.  Gillette  represents and
warrants that he owns the Pledged Securities and that the Pledged Securities are
not subject to any lien,  pledge,  charge,  encumbrance or security  interest or
right or option on the part of any third party to purchase or otherwise  acquire
the Pledged Securities or any part thereof.

     3.  Right  to  Vote  and to  Receive  Dividends  With  Respect  to  Pledged
Securities.  So long as a default in the  payment or  performance  of any of the
Obligations  shall not have occurred and be continuing,  (i) Gillette shall from
time to time be entitled  to receive  and collect for his own use all  dividends
paid in cash out of the earned  surplus or net profits of the Creditor on any of
the Pledged Securities, and (ii) Gillette shall from time to time have the right
to  vote  or to  execute  waivers  or  consents  with  respect  to  the  Pledged
Securities.   However,  all  stock  dividends,   stock  splits  or  other  stock
distributions  on any or all of the Pledged  Securities  shall be pledged to and
deposited with the Creditor as part of the Pledged  Securities  pursuant to this
Agreement.

     4. Reclassification,  Sale, Merger, and Consolidation. The capital stock of
the Creditor of Gillette may be sold or exchanged,  by merger or otherwise,  may
be increased or reduced or reclassified  and additional  shares may be issued to
Gillette,  provide that any  certificates  for such  additional or  reclassified
securities  shall be pledged to a  deposited  with the  Creditor  as part of the
Pledged Securities pursuant to this Agreement.  Gillette agrees to take all such
action,  including  without  limitation,  signing  such  stock  powers  and  UCC
financing  statements,  as may be  reasonably  requested  from  time  to time by
Creditor to perfect or maintain the security interest of Creditor in the Pledged
Securities.

     5. Rights and Remedies of Creditor; Exercise. j of Same.

     5.1.  Rights  and  Remedies  of  Creditor.  With  respect  to  the  Pledged
Securities,  the Creditor  shall have the rights and remedies of a secured party
under the Uniform  Commercial Code of South  Carolina.  Such rights and remedies
shall include, without limitation:

     (a) The right,  upon the  occurrence of any default  under the  Transaction
Documents or in the payment or performance of any of the  Obligations (an "Event
of Default"), to have the Pledged Securities,  or any part thereof,  transferred
to its name or in the name of its nominee(s);

     (b) The right, upon an Event of Default,  to sell,  assign,  give option or
options to purchase,  contract to sell or  otherwise  dispose of, and deliver as
much of the Pledged  Securities,  or any part thereof, in one or more parcels at
public or private  sale,  at any exchange or broker's  board as the Creditor may
elect,  either for cash or on credit,  and upon such terms and conditions and at
such prices as the Creditor deems best without assumption of any credit risk and
without demand or advertisement (unless otherwise required by law);

     (c) At any such  private  or public  sale of the  Pledged  Securities  then
remaining,  or part  thereof,  the Creditor may purchase and pay for the same by
cancellation of any amount due under the Note, or any other of the  Obligations,
equal to the purchase  price and free of any right of  redemption  on the pan of
Gillette, which right is hereby expressly waived.

     5.2 Exercise of Rights and Remedies by Creditor.  The Creditor may exercise
any and all of its  rights  hereunder  without  demand of  performance  or other
demand,  advertisement  or notice of any kind to or upon  Gillette  or any other
person or entity,  all of which demands,  advertisements  and notices are hereby
expressly waived by Gillette.  However,  notwithstanding the foregoing sentence,
the  Creditor  shall  give then  (10)  days  notice of the time and place of any
public  sale  hereunder  or of the  time  after  which a  private  sale or other
intended disposition may occur. In the event of any sale hereunder, the Creditor
shall apply the proceeds in the order set forth in Section 6 below. The Creditor
may have to resort to the  Pledged  Securities  or any portion  thereof  with no
requirement  on its part to proceed first  against any other  person,  entity or
property.

     6.  Application  of  Proceeds.  The  proceeds  from the sale of the Pledged
Securities  or any pan thereof shall be applied by the Creditor in the following
order:

     (a) First to the  payment of the  reasonable  costs and  expenses  of care,
safekeeping,  collection  and sale incurred by the Creditor,  including  without
limitation,  reasonable  attorneys'  fees  and all  other  reasonable  expenses,
liabilities and costs incurred by the Creditor in connection therewith;

     (b) Next to the  payment  of all  amounts  then owing and  unpaid,  whether
principal,  interest or otherwise, pursuant to the Obligations, in such order as
the Creditor may elect; and

     (c) finally to the payment to Gillette or as required by applicable  law of
any surplus then remaining from such proceeds.

     7. Anticipation and Release of Collateral.

     (a) The  Debtor  may  anticipate  payment  of the  Note in whole or in part
without penalty as specified in the Note.

     (b)  Upon  full  and  complete  payment  and  performance  of  all  of  the
Obligations and upon written notice by Gillette to the Note holder as defined in
the Note,  the Creditor  shall duly transfer and deliver to Gillette the Pledged
Securities deposited hereunder, and this Agreement shall terminate.

     8.  Payment of  Installments  and Release of  Collateral.  Beginning on the
second  anniversary  of this  Agreement,  and  continuing  on every  anniversary
thereafter,  the Creditor shall, at the request of Gillette, release and deliver
to Gillette a number of Trico  Envirometrics,  Inc. stock and options (or shares
if options have been exercised);  provided,  however,  that at no time shall the
Creditor be obligated to release any such options or shares  unless the value of
the shares  retained by the Creditor equals at least two (2) times the amount of
the Obligations then  outstanding.  For purposes of this Section 8, the value of
each option or share of the Pledged  Securities shall be deemed to equal (i) the
anniversary  date, if the security is then traded on a recognized public market,
or (ii) an amount agreed by the parties or  determined by a qualified  appraiser
(who shall be agreeable to the parties and paid for by Gillette) to be the value
of a share of such  security  as of the  applicable  anniversary  date,  if such
security  is not then traded on a  recognized  public  market.  Any shares to be
released to Gillette  pursuant to this Section 8 shall be released within thirty
(30) days of the determination of the value of the Pledged Securities.  Upon the
payment to the  Creditor of all  remaining  unpaid  principal,  interest and all
other  amounts  due  under  the  Note,  the  Creditor  shall  deliver  the stock
certificate or option agreement  evidencing the remaining Pledged  Securities to
Gillette.

     9.  Further  Assurances.  Gillette  agrees  that he will duly  execute  and
deliver  to the  Creditor  any  additional  documents  which  may be  reasonably
requested by Creditor to give effect fully to the security  interest  granted to
the Creditor hereunder.

     10.  Notices.  All notices,  requests and demands to or upon the respective
parties  shall be in writing and shall be deemed to have been given or made when
sent by certified mail, postage prepaid, addressed:

     In the case of Gillette to:

Andrew C. Gillette
4055 Faber Place Drive
Suite 201
Charleston, SC 29405

and
1085 Stonehenge Drive Hanahan, SC 29406

with a copy to:

Steveri L. Smith, Esquire
Smith, Collins & Dusenbury, P.A. 7455 Cross County Road
Suite 1
Charleston, SC 29423

In the case of the Creditor, to:

Envirometrics, Inc.
9229 University Boulevard
Charleston, South Carolina
Attn.: Richard D. Bennett, President

with a copy to:

Timothy D. Scrantom, Esquire
Ten State Street
Charleston, South Carolina

     or to such  other  address  as may be  specified  by any party in a written
notice given to the other parties.

     11.  Governing  Law.  This  Agreement,   and  the  respective   rights  and
obligations  of the  parties  hereunder,  shall be  interpreted,  governed,  and
enforced  according to the laws of South Carolina,  without regard to the choice
of law principles of it or any other jurisdiction.

     12. Venue and in Personam  Jurisdiction.  Any cause of action  arising from
the terms of this Agreement shall be brought only in a state or federal court in
the City of Charleston,  South  Carolina,  which shall be the exclusive and sole
venue for the  adjudication  of any  disputes  hereunder.  Gillette  consents to
exercise by the aforementioned  courts of in personam jurisdiction over him with
respect to any cause of action brought pursuant to this Agreement.

     13. .Parties In Interest. This Agreement shall be binding upon and inure to
the benefit of the successors and assigns of the parties hereto.

     1N WITNESS WHEREOF,  the parties have caused this Agreement  executed as of
the day and year first above written.

ENVIROMETRICS, INC.

By: Richard D. Bennett
President & CEO

By:

Elsie L. Rose, CPA Treasurer

     I, Deborah B. Gillette 1085 Stonehenge Drive, Hanahan, SC 29406 Gillette, a
South Carolina resident, hereby pledge and grant to Envirometrics, Inc. pursuant
to the terms of the foregoing  Pledge  Agreement any and all rights which I many
now or hereafter have in or to any of the Pledged Securities,  as defined in the
foregoing Pledge Agreement,  including without limitation, any and all fights in
or to the Pledged  Securities which may have arisen or at any time hereafter may
arise under the laws of any  jurisdictions  a result of my marital  relationship
with Andrew C. Gillette or otherwise

Deborah B. Gillette Jan 10, 1997$600,000.00 US

                                 PROMISSORY NOTE

Charleston, South Carolina July 26, 1996

     FOR VALUE RECEIVED, TRICO ENVIROMETRICS, INC., a South Carolina corporation
(the 'debtor"),  unconditionally  promises to pay to the order of ENVIROMETRICS,
INC.,  a  South  Carolina  corporation  (the  "Note holder") without  offset  or
deduction,  at its  office  at  9229  University  Boulevard,  Charleston,  South
Carolina  (29406),  or,  at such  other  place as the  holder  of this  Note may
designate, in lawful money of the United States of America, the principal sum of
SIX HUNDRED  THOUSAND  DOLLARS  ($600,000,00  US), or so much as may be advanced
hereunder and unpaid,  together with interest on the unpaid principal balance of
such sum from the date hereof at the rate and on the terms hereinafter  provided
in this Promissory Note (this "Note").

     The Debtor authorizes the Note holder to maintain in its customary manner a
computer  generated schedule of the amount of all disbursements of principal and
all payments of principal and interest.  In the absence of manifest  error,  the
endorsements  on the schedule shall be presumptive  evidence of the  outstanding
balance of this Note;  provided,  however,  the failure to maintain the schedule
shall not limit or affect the obligation of the Debtor on this Note.

     Principal. The principal balance shall be paid in 66 monthly installments.

     Interest.  Interest on the unpaid  principal  balance  hereof  shall accrue
monthly  and be  payable  monthly  on the  15th day of each  month.  The rate of
interest shall accrue monthly on the unpaid principal balance of this Note shall
be equal to 7.0 %. Such interest  shall be  compounded  monthly and paid for the
actual number of months elapsed.

     Adjusted  to  Principal  Amount,  The Debtor and the  initial  Note  holder
acknowledge and agree that the face principal  amount of this Note is their best
estimate of the net amount owed by the Debtor to the initial  Note holder on the
date of this Note.  The Debtor and the  initial  Note  holder  agree that within
thirty  days  after the date of this Note,  they will use their best  efforts to
determine the actual amount owed by the Debtor to the initial Note holder on the
date of this Note and to agree on such amount.  Upon the agreement of the Debtor
and initial Note holder or, if required,  determination by an arbitrator,  as to
the correct amount,  the principal  amount  outstanding  under the Note shall be
debited or credited as appropriate, effective as of the date of this Note.

     No Other Advances.  The Debtor  understands and agrees that the Note holder
is under no obligation to make any advances not specifically referenced herein.

     Security.  This Note is secured by a Stock Pledge Agreement  between Andrew
C. Gillette and the Note holder and a Security  Agreement between the Debtor and
the Note holder, both dated as of the date hereof,  reference to which is hereby
made for a description of the collateral  provided for thereunder and the rights
of the  parties  thereto  with  respect  to such  collateral.  This Note is also
secured by an Unconditional Guaranty Agreement of Andrew C. Gillette and Deborah
B. Gillette in favor of the Note holder,  dated as of the date hereof  Together,
the  Stock  Pledge  Agreement,  the  Security  Agreement  and the  Unconditional
Guaranty Agreement are hereinafter referred to as the "Security Documents".

     Default and Acceleration.  The happening of any one of the following events
shall  constitute a default under this Note:  (1) the failure of the Debtor,  or
any endorser or any guarantor "Party") to make within ten (10) days of the date
due, any installment or other payment  described  herein,  whether of principal,
interest, late charges or otherwise;  (2) the failure of any Party to observe or
perform any covenant,  condition or undertaking contained herein, subject to any
applicable notice and cure periods; (3) the occurrence of any uncured default or
event of  default  under  this Note or any of the  Security  Documents;  (4) the
suspension of payment by a Party of its obligations,  or an admission by a Party
in writing of its  inability to pay its debts  generally as they become due; (5)
the making of an assignment by a Party for the benefit of creditors or a trustee
or  receiver  of  the  Party;  (6)  the  commencement,  whether  voluntarily  or
involuntarily,  or any  proceeding  involving  a  Party  under  any  bankruptcy,
reorganization,  insolvency,  readjustment  of debt,  marshaling  of assets  and
liabilities,  dissolution or liquidation  law or statute of the United States or
of any state; (7) the sale or transfer of all or substantially  all of a Party's
assets or the merger or consolidation of a Party with any other entity;  (8) the
failure of Andrew C. Gillette to hold all of the issued and outstanding stock of
Debtor, (9) the payment,  without the Note holder written consent, to Andrew C.
Gillette,  of annual  compensation,  in aggregate  in excess of $120,000,  or to
Andrew C. Gillette, combined with any of his family members or other affiliates,
of annual  compensation,  in aggregate in excess of $200,000 (10) the payment by
the Debtor, without the Note holder written consent, of any dividend.

     Upon the happening of any such default,  the Note holder obligation to make
advances  shall  automatically  terminate,  the rate of  interest  on the unpaid
balance hereof shall be increased to the announced prime rate of BB&T plus three
percent,  and this Note  shall,  at the sole option of the Note  holder,  become
immediately  due and payable  without  further notice to or demand on any Party.
Thereupon,  the Note holder shall have the right, immediately and without notice
to any  Party  or  further  action  by it,  to  set-off  against  this  Note all
obligations  for money or money's  worth owed by the Note holder in any capacity
to any Party, whether or not due and to exercise all rights and remedies granted
under this Note, the Security Documents, or applicable law.

     Right of Anticipation.  The Debtor reserves the right to anticipate payment
hereof in whole or in part, at any time or times, without penalty.

     Covenants  and  Conditions.  In the event the Debtor fails to fully pay any
installment of principal or interest or otherwise  fails to make any payment due
under this Note within ten (10) days of its due date,  the Debtor  agrees to pay
the Note holder a late charge of five percent (5%) of such payment.

     The Parties,  individually  and  collectively  hereby:  waive  presentment,
demand,  protest and notice of dishonor;  waive the benefit of all homestead and
similar exemptions as to this Note; proceed against any other Party or person or
any property  securing this Note and agree that their liability  hereunder shall
not be affected or impaired by the release or  discharge of any other Party from
liability  hereunder,  the release or discharge of any collateral  securing this
Note or by any  failure,  neglect or omission of the Note holder to exercise any
remedies of set-off or otherwise that it may have or by any  determination  that
any  security  interest  or lien taken by the Note holder to secure this Note is
invalid or unperfected; subordinate any and all rights against the Debtor to the
payment of this Note, whether by subrogation, agreement or otherwise, until this
Note is paid in full; agree to pay all reasonable costs and expenses incurred by
the Note  holder  in  connection  with the  enforcement  of this  Note,  and the
collection  of the  indebtedness  evidence  hereby,  and the  collection  of any
judgment rendered hereon, and/or the preservation or disposition of any property
or  collateral  securing  the  payment  hereof,  and/or the defense of any claim
arising out of, or in any way  related  to, this Note or either of the  Security
Documents or any other instrument securing this Note or related to the making of
the obligations  evidenced hereby,  including,  without  limitation,  reasonable
attorney's  fees  if  this  Note is  placed  in the  hands  of an  attorney  for
collection,  or if the Note holder  finds it necessary to secure the services or
advice of an attorney with regard to collection  hereof or the  preservation  or
disposition of any property or collateral securing this Note,

     Any failure by the Note holder to exercise any right hereunder shall not be
construed  as a waiver of the right to exercise  the same or any other rights at
any time.

     Miscellaneous Provisions.  The term "Note holder" used herein shall include
any future holder of this Note.  This Note shall be governed by and construed in
accordance with the laws of South Carolina.  Whenever possible each provision of
this Note shall be  interpreted  in such a manner as to be  effective  and valid
under  applicable  law, but if any provision of this Note shall be prohibited by
or invalid under such law, such provision  shall be ineffective to the extent of
such  prohibition  or  invalidity,  without  invalidating  the remainder of such
provision or the remaining provisions of this Note. This Note shall apply to and
bind each Party's heirs,  personal  representatives,  successors and assigns and
shall inure to the benefit of the Note holder, successors and assigns.

     Substituted  Service of Process.  Should the Debtor ever fail to maintain a
registered  agent in the state of South Carolina the Debtor hereby  appoints the
clerk  of the  South  Carolina  Corporation  Commission  as its  agent  for  the
acceptance of  substituted  service of process upon it, and it is understood and
agreed that each Party hereby subjects itself to the in personam jurisdiction of
any duly  constituted  federal  or state  court  located  in  Charleston,  South
Carolina,  wherein  any action may be brought by the holder of this Note for the
enforcement thereof.

     IN WITNESS WHEREOF, the undersigned has caused this Note to be executed, in
its name and behalf by its duly authorized officer as of the day, month and year
first above written.

TRICO ENVIROMETRICS. INC.

By:

Seen and Agreed:
Andrew C. Gillette, Guarantor

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}]]