Document:

<PAGE>

                                                                    EXHIBIT 10.5

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "ACT"), OR ANY APPLICABLE STATE SECURITIES LAW AND MAY NOT BE TRANSFERRED
UNTIL (I) A REGISTRATION STATEMENT UNDER THE ACT OR SUCH APPLICABLE STATE
SECURITIES LAWS SHALL HAVE BECOME EFFECTIVE WITH REGARD THERETO, OR (II) IN THE
OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY, REGISTRATION UNDER SUCH SECURITIES
ACTS OR SUCH APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED IN CONNECTION WITH
SUCH PROPOSED TRANSFER.

                             SECURED COMMERCIAL NOTE

$154,697.45                                                 September 28, 2001
                                                               Norfolk, Virginia

      FOR VALUE RECEIVED, the undersigned, THE NETPLEX GROUP, INC., a New York
corporation ("Maker"), unconditionally promises to pay to the order of WATERSIDE
CAPITAL CORPORATION, a Virginia corporation ("Payee"; Payee and any subsequent
holder[s] hereof collectively "Holder"), without offset, abatement or deduction,
at the office of Payee at 300 E. Main Street, Suite 1380, Norfolk, Virginia
23510, or at such other place as Holder may designate to Maker in writing from
time to time, the principal sum of One Hundred Fifty-Four Thousand Six Hundred
Ninety-Seven and 45/100 Dollars ($154,697.45), together with interest on the
unpaid principal balance from the date hereof at the rate of ten percent (10%)
per annum (computed on the basis of a 360-day year).

      If not sooner paid, the entire unpaid principal balance, all accrued and
unpaid interest and any other sums due under this Note shall be paid in full on
the earlier of (a) the closing of the Systems Rights Offering, as defined in
that certain agreement between Maker and Netplex Systems, Inc. ("NSI") and Payee
(the "Master Agreement"), of even date, and (b) January 1, 2002.

      The indebtedness evidenced hereby may be prepaid in whole or in part, at
any time and from time to time, without premium or penalty. Any such prepayments
shall be credited first to any accrued and unpaid interest and then to the
outstanding principal balance hereof.

      Time is of the essence of this Note. On the occurrence, and during the
continuance, of any Event of Default as set forth herein, at the option of
Holder and without notice to Maker, all accrued and unpaid interest, if any,
shall be added to the outstanding principal balance hereof, and the entire
outstanding principal balance, as so adjusted, shall bear interest thereafter
until paid at an annual rate (the "Default Rate") equal to the lesser of (i) 19%
per annum, or (ii) the maximum rate of interest allowed to be charged under
applicable law (the "Maximum Rate"), regardless of whether or not there has been
an acceleration of the payment of principal as set forth herein. All such
interest shall be paid at the time of and as a condition precedent to the curing
of any such Event of Default.

                                       1
<PAGE>

      If Maker fails to pay any interest on or principal of this Note within 10
days of its due date, and after written notice from Holder, Maker shall pay the
holder on demand a late charge of 3% of the amount of interest or principal
which was not paid when due.

      If this Note is placed in the hands of an attorney for collection, or if
Holder incurs any costs incident to the collection of the indebtedness evidenced
hereby, Maker and any endorsers hereof shall pay to Holder an amount equal to
all such costs, including without limitation all reasonable attorneys' fees
(based on such attorneys normal hourly rates and actual time expended) actually
incurred and all court costs actually incurred.

       Each person liable on this Note in any capacity, whether as Maker,
endorser, surety, guarantor, or otherwise (an "Obligor"), waives the benefit of
the homestead exemption and of all other exemptions available to him and also
waives presentment, demand, protest, notice of dishonor and all other notices of
every kind and nature to which he would otherwise be entitled under the
applicable law, except notices expressly required in this Note. Each Obligor
agrees that Holder may take any one or more of the following actions, on one or
more occasions, whether before or after the maturity of this Note, without any
notice to such Obligor, without any further consent to such actions, and without
releasing or discharging such Obligor from liability on the Note:

            (a) Any extension or extensions of the time of payment of any
principal, interest or other amount due and payable under this Note;

            (b) Any renewal of this Note, in whole or in part;

            (c) Any full or partial release or discharge from liability under
this Note of any other Obligor;

            (d) Any waiver of any default under this Note, under any loan
commitment, loan agreement, guaranty, or other agreement between Holder and any
Obligor relating to the indebtedness evidenced by this Note;

            (e) Any failure or refusal of Holder to (i) institute any suit or
action against any Obligor under this Note, or (ii) exercise any other right or
remedy available to Holder under this Note or applicable law, or any delay by
Holder in instituting any such suit or action, or in exercising any other such
right or remedy; or

            (f) Any agreement with Maker changing the rate of interest or any
other term or condition of this Note.

To the fullest extent permitted by law, each Obligor waives the benefit of all
laws and rules of law intended for its protection or advantage as a person
liable on this Note or providing for his defense to, or release or discharge
from, liability on the failure or refusal of Holder to perform certain acts,
including, but not limited to, the provisions of Sections 49-25, 49-26 and
8.3A-605 of the Code of Virginia of 1950, as amended, or any law and any rule of
law requiring Holder to

                                       2
<PAGE>

institute any suit or action on this Note against any Obligor to preserve the
rights of Holder against another Obligor.

      If there shall occur for any reason whatsoever (whether such occurrence
shall be voluntary or involuntary or come about or be effected by operation of
law or pursuant to or in compliance with any judgment, decree, or order of any
court or any order, rule, or regulation of any administrative or governmental
body), an Event of Default by the Maker under the Master Agreement, then a
default (an "Event of Default") shall exist under this Note.

      Presentment for payment, demand, protest and notice of demand, protest and
nonpayment are hereby waived by Maker and all other parties hereto. No failure
to accelerate the indebtedness evidenced hereby by reason of an Event of Default
hereunder, acceptance of a past-due installment or other indulgences granted
from time to time, shall be construed as a novation of this Note or as a waiver
of such right of acceleration or of the right of Holder thereafter to insist
upon strict compliance with the terms of this Note or to prevent the exercise of
such right of acceleration or any other right granted hereunder or by applicable
law. No extension of the time for payment of the indebtedness evidenced hereby
or any installment due hereunder, made by agreement with any person now or
hereafter liable for payment of the indebtedness evidenced hereby, shall operate
to release, discharge, modify, change or affect the original liability of Maker
hereunder or that of any other person now or hereafter liable for payment of the
indebtedness evidenced hereby, either in whole or in part, unless Holder agrees
otherwise in writing. This Note may not be changed orally, but only by an
agreement in writing signed by the party against whom enforcement of any waiver,
change, modification or discharge is sought.

      All agreements herein made are expressly limited so that in no event
whatsoever, whether by reason of advancement of proceeds hereof, acceleration of
maturity of the unpaid balance hereof or otherwise, shall the amount paid or
agreed to be paid to Holder for the use of the money advanced or to be advanced
hereunder exceed the Maximum Rate. If, from any circumstances whatsoever, the
fulfillment of any provision of this Note or any other agreement or instrument
now or hereafter evidencing, securing or in any way relating to the indebtedness
evidenced hereby shall involve the payment of interest in excess of the Maximum
Rate, then, ipso facto, the obligation to pay interest hereunder shall be
reduced to the Maximum Rate; and if from any circumstance whatsoever, Holder
shall ever receive interest, the amount of which would exceed the amount
collectible at the Maximum Rate, such amount as would be excessive interest
shall be applied to the reduction of the principal balance remaining unpaid
hereunder and not to the payment of interest. This provision shall control every
other provision in any and all other agreements and instruments existing or
hereafter arising between Maker and Holder with respect to the indebtedness
evidenced hereby.

      This Note is intended as a contract under and shall be construed and
enforceable in accordance with the laws of the Commonwealth of Virginia, except
to the extent that federal law may be applicable to the determination of the
Maximum Rate.

      Maker hereby irrevocably consents to the jurisdiction of the United States
District Court for the Eastern District of Virginia, Norfolk Division, and of
all Virginia state courts sitting in Norfolk, Virginia, for the purpose of any
litigation to which Holder may be a party and which concerns this Note or the
indebtedness evidenced hereby. It is further agreed that venue for any

                                       3
<PAGE>

such action shall lie exclusively with courts sitting in Norfolk, Virginia,
unless Holder agrees to the contrary in writing.

      As used herein, the terms "Maker" and "Holder" shall be deemed to include
their respective successors, legal representatives and assigns, whether by
voluntary action of the parties or by operation of law.

      To the fullest extent possible, Maker waives in full the right to a trial
by jury in regard to any disputes, claims, causes of action, obligations,
damages, complaints, litigation or any matter whatsoever and of any type or
nature, whether in contract, tort or otherwise, which Maker may have now or in
the future may have relating to this Note or any matter relating to the
indebtedness evidenced by this Note. By execution of this Note, Maker represents
and warrants that Maker is represented by competent counsel who has fully and
completely advised Maker of the meaning and ramifications of the right of Maker
to a trial by jury or that Maker had the full and complete opportunity to
consult such counsel and chose not to do so, and, therefore, Maker freely and
voluntarily waives such right to trial by jury.

                                    NETPLEX GROUP, INC.

                                    By:
                                       ---------------------------------
                                       Gene F. Zaino, President

                                       4<PAGE>

                                                                    EXHIBIT 10.6

                            INVESTOR RIGHTS AGREEMENT

      THIS INVESTOR RIGHTS AGREEMENT (the "Agreement"), is made as of this ____
day of September, 2001, between NETPLEX SYSTEMS, INC., a Delaware corporation
("Systems"), and WATERSIDE CAPITAL CORPORATION, a Virginia corporation
(collectively, with its successors and assigns, the "Investor").

                                 R E C I T A L S
                                 ---------------

      A. The Netplex Group, Inc., New York corporation ("Group") has authorized
40,000,000 shares of common stock (the "Group Common Stock");

      B. Group has also authorized 6,000,000 shares of Preferred Stock, of which
1,500 shares are owned by the Investor and have been designated Class C
Preferred Stock (the "Investor Group Preferred Stock") with such terms as have
been set forth in the Group's Certificate of Incorporation, as amended (the
"Group Certificate of Incorporation");

      C. Group holds 1,000 shares of Preferred Stock of Systems, designated
Class A Preferred Stock (the "Systems Preferred Stock").

      D. The Investor holds a warrant (the "Investor Warrant") exercisable for
300,000 shares of Group Common Stock.

      E. The Investor has executed a limited guaranty of up to a maximum of
$400,000 of a $3,000,000 revolving credit facility extended to Systems.

      F. Contemporaneously with the execution and delivery of this Agreement,
pursuant to that certain Master Agreement between Group and Systems and the
Investor (the "Master Agreement"):

            (a) Group redeems from WSCC 1,500 shares of the Investor Group
Preferred Stock for $1,000,000 cash and two secured commercial promissory notes
in the original principal amounts of $900,000 and $154,697.45, respectively, and
Investor surrenders the Investor Warrant to Group; and

            (b) WSCC purchases from Group 1,000 shares of Systems Preferred
Stock for $1,000,000 cash.

      G. One of the conditions to the execution of and entry into the Master
Agreement and the Investor Guaranty by the Investor is the execution and
delivery of this Agreement by Systems.

      NOW, THEREFORE, in consideration of the following mutual covenants and
other good and valuable consideration, its receipt and sufficiency acknowledged,
Systems and the Investor agree:

                                       1
<PAGE>

                                    ARTICLE 1
                               BOARD OF DIRECTORS

      Section 1.1 Election of Board. Systems will cause the appointment of an
individual designated by the Investor to its Board of Directors. The director
designated by the Investor is referred to as the "Investor Director." In the
event the Investor's designee/nominee is not elected by Systems' shareholders at
any such meeting, the Investor shall have the right to appoint an individual
(reasonably acceptable to Systems) to receive notice of, attend and observe all
meetings of the Board of Directors. Any Investor Director who is not an employee
of Systems shall be entitled to receive those fees and benefits, including the
issuance of stock options, afforded the other non-employee members of the Board
of Directors, plus out-of-pocket expenses.

      Section 1.2 Removal of Investor Designee. Any Investor Director may be
removed during his or her term of office, without cause, by and only by the
written consent of the Investor.

      Section 1.3 Insurance. Systems shall maintain directors' and officers'
liability insurance coverage consistent with its current coverage.

                                    ARTICLE 2
                                 SPECIAL RIGHTS

      Section 2.1 General. In addition to such rights as are forth in the
Articles of Incorporation of Systems, the Investor shall have the rights set
forth in this Article 2.

      Section 2.2 Investor Put of Systems Preferred Stock. At any time after the
earliest of (a) a Change of Control (as defined below) and, (b) the occurrence
of an event of default by Systems under the Master Agreement or any documents
evidencing, guaranteeing, securing or executed by Systems in connection with the
execution of the Master Agreement and, (c) the failure of Systems to make timely
dividend payments on the Investor Systems Preferred Stock and (d) System
defaults in its payment or other material obligations under that certain credit
facility with American Commercial Financial Corporation, the Investor shall have
the right to require Systems to redeem or repurchase up to all of the shares of
the Investor Systems Preferred Stock for $1,000,000, plus accrued and unpaid
dividends. If a redemption has not occurred by December 31, 2003, the Investor
shall have the right to require Systems to convert up to all of the shares of
Systems Preferred Stock into shares of Systems Common Stock at the rate of 200
shares of Systems Common Stock for each share of Systems Preferred Stock.
Following such notice, Systems shall within 5 business days convert all of such
outstanding shares of Systems Preferred Stock held by the Investor by delivering
to the Investor a stock certificate in the appropriate amount of shares of
Systems Common Stock. A "Change of Control" shall be deemed to occur on (y) the
date Gene Zaino ("Zaino") shall cease to be the Chairman of the Board of
Systems, or (z) any consolidation, merger, reorganization, sale of substantially
all the assets of Systems or other similar transaction with or into any other
corporation or other entity or person, or any other corporate reorganization in
which the shareholders of Systems immediately before such consolidation, merger
or reorganization, or any transaction or series of related transactions do not
hold shares possessing a majority of votes in the election of directors

                                       2
<PAGE>

immediately after such consolidation, merger or reorganization, or any
transaction or series of transactions; provided, however, a Change of Control
caused by the Systems Rights Offering, as defined in the Master Agreement, shall
not be deemed a Change in Control under this Section 2.2. If Systems voluntarily
redeems the Investor Systems Preferred Stock on or before December 31, 2003,
Systems shall pay the Investor a $133,000 early redemption fee.

                                    ARTICLE 3
                                   TERMINATION

      This Agreement, and the respective rights and obligations of the parties,
shall terminate on the satisfaction by Systems, of all of the respective
Obligations, as defined in the Master Agreement, of each, this Agreement and any
other document entered by the parties in connection therewith.

                                    ARTICLE 4
                                  MISCELLANEOUS

      Section 4.1 Notices. All notices and other communications hereunder shall
be in writing and shall be deemed to have been given when delivered by hand or
mailed via a nationally recognized overnight delivery service, by first class
mail registered or certified mail (air mail if to or from outside the United
States), postage prepaid, facsimile transmission that is acknowledged as
received by the recipient, if to the Investor, at 300 East Main Street, Suite
1380, Norfolk Virginia 23510, if to Systems at 1800 Robert Fulton Drive, Suite
250, McLean, VA 20191, or to such other address as the addressee shall have
furnished to the other parties in the manner prescribed by this Section 4.1.

      Section 4.2 Specific Performance. The rights of the parties under this
Agreement are unique and, accordingly, the parties shall have the right, in
addition to such other remedies as may be available to any of them at law or in
equity, to enforce their rights hereunder by actions for specific performance in
addition to any other legal or equitable remedies they might have to the extent
permitted by law.

      Section 4.3 Entire Agreement. This Agreement, the Master Agreement and the
documents contemplated thereby, constitute the entire agreement between the
parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings between them or any of them as to such subject
matter.

      Section 4.4 Waivers and Further Agreements. Any of the provisions of this
Agreement may be waived by an instrument in writing with the consent of the
party or parties whose rights are being waived.

      Section 4.5 Amendments. This Agreement may be amended by and shall be
effective upon the receipt of the written consent of Systems and the Investor.

      Section 4.6 Assignment: Successors and Assigns. This Agreement shall be
binding upon and shall inure to the benefit of the parties and their respective
heirs, executors, legal

                                       3
<PAGE>

representatives, successors and permitted transferees, except as may be
expressly provided otherwise herein.

      Section 4.7 Severability. In case any one or more of the provisions
contained in this Agreement shall for any reason be held to be invalid, illegal
or unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision of this Agreement and such invalid, illegal
and unenforceable provision shall be reformed and construed so that it will be
valid, legal, and enforceable to the maximum extent permitted by law.

      Section 4.8 Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

      Section 4.9 Section Headings. The headings contained in this Agreement are
for reference purposes only and shall not in any way affect the meaning or
interpretation of this Agreement.

      Section 4.10 Governing Law. This Agreement shall be governed by and
construed in accordance with the substantive laws of the Commonwealth of
Virginia.

      Section 4.11 Jurisdiction and Venue. Systems consents to the jurisdiction
of the United States District Court for the Eastern District of Virginia,
Norfolk Division, and of all Virginia state courts sitting in Norfolk, Virginia,
for the purpose of any suit, action or other proceeding arising out of any of
its obligations arising under this Agreement or with respect to the transactions
contemplated hereby, and expressly waives any and all objections it may have as
to venue in such court.

      IN WITNESS, the undersigned have executed this Investor Rights Agreement
as of the day and year first above written.

                              NETPLEX SYSTEMS, INC.

                              By:
                                 ---------------------------------------
                                 Gene F. Zaino, Chief Executive Officer

                              WATERSIDE CAPITAL CORPORATION

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

                                       4
<PAGE>

                              AMENDED AND RESTATED
                            INVESTOR RIGHTS AGREEMENT

      THIS AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (the "Agreement"),
made as of this 28th day of September, 2001, between THE NETPLEX GROUP, INC., a
New York corporation ("Group"), and GENE F. ZAINO (the "Stockholder") and
WATERSIDE CAPITAL CORPORATION, a Virginia corporation (collectively, with its
successors and assigns, the "Investor"), amends and restates the Investor Rights
Agreement made as of September 30, 1998, between Group and the Investor. (Group,
the Stockholder and the Investor are each a "Party" and, collectively, the
"Parties".)

                                 R E C I T A L S
                                 ---------------

      A. Group has authorized 40,000,000 shares of common stock (the "Group
Common Stock");

      B. Group has also authorized 6,000,000 shares of Preferred Stock, of which
1,500 shares are owned by the Investor and have been designated Class C
Preferred Stock (the "Investor Group Preferred Stock") with such terms as have
been set forth in the Group's Certificate of Incorporation, as amended (the
"Group Certificate of Incorporation");

      C. Group holds 1,000 shares of Preferred Stock of Netplex Systems, Inc. a
Delaware corporation ("Systems"), designated Class A Preferred Stock (the
"Systems Preferred Stock").

      D. The Investor holds a warrant (the "Investor Warrant") exercisable for
300,000 shares of Group Common Stock.

      E. The Investor has executed a limited guaranty of up to a maximum of
$400,000 of a $3,000,000 revolving credit facility extended to Systems .

      F. Contemporaneously with the execution and delivery of this Agreement,
pursuant to that certain Master Agreement between Group and Systems and the
Investor (the "Master Agreement"):

            (a) Group redeems from WSCC 1,500 shares of the Investor Group
Preferred Stock for $1,000,000 cash and two secured commercial promissory notes
in the original principal amounts of $900,000 and $154,697.45, respectively, and
Investor surrenders the Investor Warrant to Group; and

            (b) WSCC purchases from Group 1,000 shares of Systems Preferred
Stock for $1,000,000 cash.

      G. The Stockholder is the record and beneficial owner of 1,938,350 shares
(including vested and unvested stock options) of Group Common Stock; and

                                       1
<PAGE>

      H. One of the conditions to the execution of and entry into the Master
Agreement and the Investor Guaranty by the Investor is the execution and
delivery of this Agreement by Group and the Stockholder.

      NOW, THEREFORE, in consideration of the following mutual covenants and
other good and valuable consideration, its receipt and sufficiency acknowledged,
Group and the Stockholder and the Investor agree:

                                    ARTICLE 1
                               BOARD OF DIRECTORS

      Section 1.1 Election of Board. Group has previously appointed an
individual designated by the Investor to its Board of Directors. The director
designated by the Investor is referred to as the "Investor Director." In
addition, so long as any Obligations of Group, as that term is defined in the
Master Agreement or other documents executed in connection herewith, remain
outstanding, the Board of Directors of Group shall nominate one individual
designated by the Investor (reasonably acceptable to Group) and two Directors,
who shall not be officers of Group (each an "Outside Director") for election as
a board member at any shareholder meeting called for the purpose of electing
directors. The Group Board will not nominate more nominees at any such election
than there are board seats up for election at such meeting. The Stockholder
shall vote as a shareholder at any such Group shareholder meeting for the
Investor's nominee. In the event the Investor's designees/nominees are not
elected by Group's shareholders at any such meeting, the Investor shall have the
right to appoint an individual (reasonably acceptable to Group) to receive
notice of, attend and observe all meetings of its Board of Directors. Any
Investor Director who is not an employee of Group shall be entitled to receive
those fees and benefits, including the issuance of stock options, afforded the
other non-employee members of the Board of Directors, plus out-of-pocket
expenses.

      Section 1.2 Removal of Investor Designee. Any Investor Director may be
removed during his or her term of office, without cause, by and only by the
written consent of the Investor.

      Section 1.3 Insurance. Group shall maintain directors' and officers'
liability insurance coverage consistent with its current coverage.

                                    ARTICLE 2
                                   TERMINATION

      This Agreement, and the respective rights and obligations of the parties,
shall terminate on the satisfaction by Group of all of the respective
Obligations, as defined in the Master Agreement, this Agreement and any other
document entered by the parties in connection therewith.

                                       2
<PAGE>

                                    ARTICLE 3
                                     LEGEND

      Any certificates representing shares of capital stock subject to this
Agreement shall bear on their face the following legend prominently displayed:

            THE SHARES REPRESENTED BY THIS CERTIFICATE, AND THE TRANSFER
            THEREOF, ARE SUBJECT TO THE PROVISIONS OF THAT CERTAIN INVESTOR
            RIGHTS AGREEMENT, DATED AS OF SEPTEMBER 28, 2001, BETWEEN THE
            CORPORATION AND WATERSIDE CAPITAL CORPORATION, A COPY OF WHICH IS ON
            FILE AND MAY BE EXAMINED AT, THE PRINCIPAL OFFICE OF THE
            CORPORATION.

All such shares hereafter issued to the Stockholder shall bear the same legend.

                                    ARTICLE 4
                                  MISCELLANEOUS

      Section 4.1 Notices. All notices and other communications hereunder shall
be in writing and shall be deemed to have been given when delivered by hand or
mailed via a nationally recognized overnight delivery service, by first class
mail registered or certified mail (air mail if to or from outside the United
States), postage prepaid, facsimile transmission that is acknowledged as
received by the recipient, if to the Investor, at 300 East Main Street, Suite
1380, Norfolk Virginia 23510 and if to Group, at 1800 Robert Fulton Drive, Suite
250, Reston, Virginia 20191, or to such other address as the addressee shall
have furnished to the other parties hereto in the manner prescribed by this
Section 4.1.

      Section 4.2 Specific Performance. The rights of the parties under this
Agreement are unique and, accordingly, the parties shall have the right, in
addition to such other remedies as may be available to any of them at law or in
equity, to enforce their rights hereunder by actions for specific performance in
addition to any other legal or equitable remedies they might have to the extent
permitted by law.

      Section 4.3 Entire Agreement. This Agreement and the Master Agreement and
the documents contemplated thereby, constitute the entire agreement between the
parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings between them or any of them as to such subject
matter.

      Section 4.4 Waivers and Further Agreements. Any of the provisions of this
Agreement may be waived by an instrument in writing with the consent of the
party or parties whose rights are being waived.

      Section 4.5 Assignment: Successors and Assigns. This Agreement shall be
binding upon and shall inure to the benefit of the parties and their respective
heirs, executors, legal

                                       3
<PAGE>

representatives, successors and permitted transferees, except as may be
expressly provided otherwise herein.

      Section 4.6 Severability. In case any one or more of the provisions
contained in this Agreement shall for any reason be held to be invalid, illegal
or unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision of this Agreement and such invalid, illegal
and unenforceable provision shall be reformed and construed so that it will be
valid, legal, and enforceable to the maximum extent permitted by law.

      Section 4.7 Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

      Section 4.8 Section Headings. The headings contained in this Agreement are
for reference purposes only and shall not in any way affect the meaning or
interpretation of this Agreement.

      Section 4.9 Governing Law. This Agreement shall be governed by and
construed in accordance with the substantive laws of the Commonwealth of
Virginia.

      Section 4.10 Jurisdiction and Venue. Group consents to the jurisdiction of
the United States District Court for the Eastern District of Virginia, Norfolk
Division, and of all Virginia state courts sitting in Norfolk, Virginia, for the
purpose of any suit, action or other proceeding arising out of any of its
obligations arising under this Agreement or with respect to the transactions
contemplated hereby, and expressly waives any and all objections it may have as
to venue in such court.

      IN WITNESS WHEREOF, the undersigned have executed this Amended and
Restated Investor Rights Agreement as of the day and year first above written.

                              THE NETPLEX GROUP, INC.

                              By:                                 (SEAL)
                                 ---------------------------------
                                    Gene F. Zaino, President

                              WATERSIDE CAPITAL CORPORATION

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

                                       4

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