Document:

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                                                                    EXHIBIT 10.7

                             SUBORDINATION AGREEMENT

      THIS SUBORDINATION AGREEMENT (this "AGREEMENT") is entered into as of the
11th day of October, 2002, by and among KELTIC FINANCIAL PARTNERS, LP (the
"LENDER"), MMAC COMMUNICATIONS CORP. (the "BORROWER"), and VIEWCAST.COM, INC.
(the "CREDITOR").

                                    RECITALS

      The Lender has established or is establishing certain credit facilities
with the Borrower, as evidenced by certain documents, instruments and agreements
all between the Lender and the Borrower (collectively, the "LOAN DOCUMENTS").
Unless otherwise defined herein, the capitalized terms used herein shall have
the same meaning ascribed thereto in the Loan Documents.

      The Creditor has extended or is extending or may in the future extend to
the Borrower certain loans, advances and extensions of credit, as evidenced by a
certain note or notes (collectively, the "CREDITOR DOCUMENTS").

      The Lender and the Creditor hereby desire to set forth the respective
rights and obligations each has as against the other with respect to the
Borrower.

      NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby
agree as follows:

      1. DEFINITIONS.

            "OBLIGATIONS" means all the following: (a) all principal of and
interest on the Revolving Loans and all other sums payable by Borrower or any
Affiliate under the terms of the Loan Documents; (b) all other indebtedness,
liabilities, obligations and agreements of every kind and nature of Borrower to
or with Lender or any Affiliate of Lender whether pursuant to the Loan
Documents, any of the other Loan Documents or otherwise, whether in the form of
refinancing, letters of credit, bankers acceptances, interest rate agreements,
hedge or currency contracts, guaranties, loans, interest, overdrafts, charges,
fees, expenses or otherwise, whether direct or indirect, whether acquired
outright, conditionally or as collateral security from another, whether absolute
or contingent, joint or several, liquidated or unliquidated, secured or
unsecured, and whether arising by operation of law or otherwise; (c) any
participation or interest of Lender or any Affiliate of Lender in any
indebtedness, liabilities, obligations or agreements of Borrower, or any
Guarantor to or with others; and (d) all out-of-pocket costs and expenses
incurred by Lender in connection with the Loan Documents at any time, including,
but not limited to, the expenses and reasonable fees of Lender's counsel,
whether of outside counsel or the allocated cost of Lender's in-house counsel;
in each case whether now existing or hereafter created, whether now or hereafter
contemplated, and including without limitation any future advances, renewals,
extensions

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modifications or changes in form of, or substitutions for, any of the items
described in the preceding clauses (a) through (d).

            "COLLATERAL" means any collateral now or in the future securing the
Obligations, including but not limited to claims against any guarantors of the
Obligations and any collateral securing such guarantees.

            "SUBORDINATED DEBT" means any loans, advances, debts, liabilities,
obligations, covenants and duties owing by the Borrower to the Creditor of any
kind or nature, present or future, whether or not evidenced by any note,
guaranty or other instrument, whether arising under any agreement, instrument or
document, whether or not for the payment of money, whether arising by reason of
an extension of credit, loan or guarantee or in any other manner, whether direct
or indirect, absolute or contingent, joint or several, due or to become due, now
existing or hereafter arising (including any such obligations purchased or
otherwise acquired by Creditor), whether consisting of principal, interest,
expense payments, management and consulting fees, liquidation costs, attorneys'
fees and costs or otherwise, and all whether arising or created pursuant to the
Creditor Documents or otherwise.

      2. SUBORDINATION.

            (a) Subject to Section 3 hereof, the Creditor hereby irrevocably
subordinates and postpones the payment and the time of payment of all the
Subordinated Debt and all claims and demands arising therefrom to the
Obligations and directs that the Obligations be paid in full before the
Subordinated Debt.

            (b) Creditor shall: (i) make notations on the books of the Creditor
beside all accounts or on such other statements evidencing or recording any
Subordinated Debt to the effect that such Subordinated Debt is subject to the
provisions of this Agreement, (ii) furnish the Lender, upon Lender's request
from time to time, a statement of the account between the Creditor and the
Borrower representing the Subordinated Debt and copies of each of the Creditor
Documents, and (iii) give the Lender, upon its request, full and free access to
the Creditor's books pertaining only to such accounts with the right to make
copies thereof. Each and every Creditor Document shall bear a legend as set
forth in paragraph 13(c) hereof.

      3. PAYMENTS TO CREDITOR. Notwithstanding any other provision of this
Agreement, the Borrower shall be entitled to pay and the Creditor shall be
entitled to receive, so long as no Default or Event of Default has occurred
under the Loan Documents or would result from such payment, any payments owed by
the Borrower to the Guarantor resulting from the Guarantor's providing products
or services to the Borrower in the ordinary course of the Guarantor's business,
provided such arrangements are on terms at least as favorable as in an arm's
length transaction. Notwithstanding any other provision of this Agreement, the
Borrower shall be entitled to pay and the creditor shall be entitled to receive,
so long as no Default or Event of Default has occurred under the Loan Documents
or would result from such payment, and provided further that both before and
after such payment there is a minimum excess availability under the Revolving
Loan of $150,000 after giving effect to such payment and the payment of Accounts
Payable that are in

                                      -2-
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excess of ninety (90) days past due, only all scheduled payments of interest (at
the current rate set forth in the Creditor Documents) and scheduled payments of
principal under the Subordinated Debt, and only when due. No prepayments of
principal on the Subordinated Debt or default interest thereon or costs and
expenses shall be permitted or made without the Lender's prior written consent.
After the occurrence of a Default or Event of Default under the Loan Documents
and receipt by the Creditor of written notice thereof from the Lender to the
Creditor, the Borrower shall not make, and the Creditor shall not receive, any
direct or indirect payments of principal, interest, costs or expenses under the
Subordinated Debt.

      4. SECURITY. The Borrower shall not grant and the Creditor shall not take
any lien on or security interest in any of the Borrower's property, now owned or
hereafter acquired or created, without the prior written consent of the Lender.

      5. STANDBY LIMITATION. Notwithstanding any breach or default by the
Borrower under the Creditor Documents, the Creditor shall not at any time or in
any manner: (a) foreclose upon, take possession of, or attempt to realize on any
Collateral, or proceed in any way to enforce any claims it has or may have
against the Borrower under the Subordinated Debt or otherwise, or (b) contest,
protest or object to any action taken by Lender under the Loan Documents or
otherwise, unless and until the Obligations have been fully and indefeasibly
paid and satisfied in full.

      6. BANKRUPTCY/PROBATE OF BORROWER. In the event a petition or action for
relief shall be filed by or against the Borrower under any federal bankruptcy
statute in effect from time to time, or under any other law relating to
bankruptcy, insolvency, reorganization, receivership, general assignment for the
benefit of creditors, moratorium, creditor composition, arrangement or other
relief for debtors, the Lender's claim (secured or unsecured) against the assets
or estate of the Borrower for repayment of the Obligations shall be indefeasibly
paid in full before any payment is made to the Creditor on the Subordinated
Debt, whether such payment is in cash, securities or any other form of property
or rights. The Lender may, in its discretion, file a proof of claim for or
collect the Creditor's claim first for the benefit of the Lender to the extent
of the unpaid Obligations and then for the benefit of the Creditor (but without
creating any duty or liability to the Creditor other than to remit to the
Creditor distributions, if any, actually received in such proceedings after the
Obligations have been paid and satisfied in full) directly from the receiver,
trustee, custodian, liquidator or representative of the Borrower's estate in
such proceeding. The Borrower and the Creditor shall furnish all assignments,
powers or other documents requested by the Lender to facilitate such direct
collection by the Lender.

      7. RECEIPT OF PAYMENTS BY CREDITOR. Should the Creditor directly or
indirectly receive any payment or distribution not permitted by the provisions
of this Agreement or any Collateral or proceeds thereof, prior to the full and
indefeasible payment and satisfaction of the Obligations and the termination of
all financing arrangements between the Lender and the Borrower, the Creditor
will deliver the same to the Lender in the form received (except for the
endorsement or assignment of the Creditor where necessary), for application to
the Obligations in such order and manner as the Lender may elect. Until so
delivered, the Creditor shall hold the same, in trust, for the Lender as

                                      -3-
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property of the Lender, and shall not commingle such property of the Lender with
any other property held by the Creditor. In the event the Creditor fails to make
any such endorsement or assignment, the Lender, or any of its officers or
employees on behalf of the Lender, is hereby irrevocably authorized in its own
name or in the name of the Creditor to make such endorsement or assignment and
is hereby irrevocably appointed as the Creditor's attorney-in-fact for those
purposes.

      8. LENDER'S RIGHTS.

            a) The Creditor hereby consents that at any time and from time to
time, without further consent of or notice to the Creditor and without in any
manner affecting, impairing, lessening or releasing any of the provisions of
this Agreement, the Lender may, in its sole discretion: (i) renew, compromise,
extend, expand, postpone, waive, accelerate, terminate, change the payment terms
of, or otherwise modify the Obligations or amend, renew, replace or terminate
the Loan Documents or any and all other agreements now or hereafter related to
the Obligations; (ii) extend credit to the Borrower in whatever amount on a
secured or unsecured basis or take other support for the Obligations and
exchange, enforce, waive, sell, transfer, collect, adjust or release any such
security or other support or any part thereof; (iii) apply any and all payments
or proceeds of such security or other support and in any order or manner as the
Lender, in its discretion, may determine; and (iv) release or substitute any
party liable on the Obligations, any guarantor of the Obligations, or any other
party providing support for the Obligations.

            b) This Agreement will not be affected, impaired or released by any
delay or failure of the Lender to exercise any of its rights and remedies
against the Borrower or any guarantor or under any of the Obligations or against
any Collateral, by any failure of the Lender to take steps to perfect or
maintain its lien on, or to preserve any rights to, any Collateral by any
irregularity, unenforceability or invalidity of any of the Obligations or any
part thereof or any security or guarantee therefor, or by any other event or
circumstance which otherwise might constitute a defense available to, or a
discharge of, the Borrower or a subordinated creditor. The Creditor hereby
waives demand, presentment for performance, protest, notice of dishonor and of
protest with respect to the Subordinated Debt and the Collateral, notice of
acceptance of this Agreement, notice of the making of any of the Obligations and
notice of default under any of the Obligations.

            c) NOTHING IN THIS AGREEMENT WILL OBLIGATE THE LENDER TO GRANT
CREDIT TO, OR CONTINUE FINANCING ARRANGEMENTS WITH, THE BORROWER.

      9. CONTINUING AGREEMENT. This is a continuing agreement and will remain in
full force and effect until all of the Obligations and all of the Creditor's
obligations and undertakings to the Lender have been fully performed and
indefeasibly satisfied and until all the Loan Documents have been terminated.
This Agreement will continue to be effective or will be automatically
reinstated, as the case may be, if at any time payment of all or any part of the
Obligations is rescinded or must

                                      -4-
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otherwise be returned by the Lender upon insolvency, bankruptcy, or
reorganization of the Borrower or otherwise, all as though such payment had not
been made.

      10. NO CHALLENGE TO LIENS. The Creditor agrees that it will not make any
assertion, claim or argument in any action, suit or proceeding of any nature
whatsoever in any way challenging the priority, validity or effectiveness of the
liens and security interests granted to the Lender.

      11. DISPOSITION OR RELEASE OF COLLATERAL.

            a) If at any time or from time to time the Collateral, or any
portion thereof, is in any manner sold or otherwise transferred, the Creditor's
consent to such disposition shall be automatically and irrevocably given if the
Lender, in its sole discretion and for any reason, consents to such disposition,
and in any event the Creditor shall not be entitled to receive any proceeds
(cash or non-cash) of such disposition unless and until the Obligations have
been indefeasibly paid in full.

            b) If, at any time and for any reason, the Lender releases its lien
on the Collateral, or any portion thereof, the Creditor shall likewise release
its lien on the property so released from the Lender's lien, if the Creditor has
obtained such a lien. In the event the Creditor fails to release its lien on
such property as aforesaid, the Lender, or any of its officers or employees on
behalf of the Lender, is hereby irrevocably authorized in its own name or in the
name of the Creditor to execute and deliver such releases and is hereby
irrevocably appointed as the Creditor's attorney-in-fact for said purpose.

      12. ORDER OF PROCEEDINGS. Nothing in this Agreement is intended to compel
the Lender or the Creditor at any time to declare the Borrower in default or
compel the Lender to proceed against or refrain from proceeding against any
Collateral in any order or manner. All rights and remedies of the Lender with
respect to the Collateral, the Borrower, and any other obligors concerning the
Obligations are cumulative and not alternative.

      13. REPLACEMENT FINANCING; ASSIGNMENT OF SUBORDINATED DEBT.

            a) The provisions hereof shall inure to the benefit of any financial
institution obtained by the Borrower or the Lender to provide replacement
working capital or other financing for the Borrower in place of the Lender,
regardless of whether any such replacement lender provides its own financing or
succeeds to the Lender's financing by assignment. If requested by such
replacement lender, the Creditor shall execute with such replacement lender a
subordination agreement substantially similar to this Agreement.

                                      -5-
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            b) The Creditor also agrees that as a prior condition of any
assignment of any of its interests under any of the Creditor Documents, the
Creditor shall require the assignee to acknowledge this Agreement and agree, in
writing, to be bound by the terms and conditions hereof.

            (c) Each and every Creditor Document shall bear the following
legend, or a similar legend acceptable to Lender, in boldface type:

            This Note is subject to the terms of a Subordination Agreement in
            favor of Keltic Financial Partners, LP. Notwithstanding any contrary
            statement contained in the within instrument, no payment on account
            of any obligation arising from or in connection with the within
            instrument or any related agreement (whether of principal, interest
            or otherwise) shall be made, paid, received or accepted except in
            accordance with the terms of said Subordination Agreement.

      14. FINANCING OF FIDUCIARY. In the event of a bankruptcy, reorganization,
other insolvency or court proceeding for the Borrower commences, the Lender
shall have the option (in its sole and absolute discretion) to continue to
provide financing (on terms acceptable to the Lender) of the trustee, other
fiduciary, or of the Borrower as a debtor-in-possession, if the Lender deems
such financing to be in its best interests. The subordination and lien priority
provisions of this Agreement shall continue to apply to all advances made during
the pendency of such court proceedings, so that the Lender shall have a prior
lien on all Collateral, created before or during such court proceeding, to
secure all Obligations, whether created before or during such court proceeding.
The Creditor hereby waives any right it may have to object to financing by the
Lender during the pendency of such court proceeding and the Creditor's consent
to such financing shall not be required regardless of whether the court
supervising such proceeding approves, grants or allows adequate protection to
the Creditor.

      15. INVESTIGATION OF PARTIES. The Creditor has entered into the Creditor
Documents with the Borrower and the Lender has entered into the Loan Documents
with the Borrower and the Creditor and the Lender have entered into this
Agreement each upon its own independent investigation, and each makes no
warranty or representation as to each other with respect to the financial
condition of the Borrower, or its ability to repay its loans to the Creditor or
the Lender in the future. Nothing in this Agreement shall be deemed to
constitute this Agreement as a security or create a joint venture or partnership
between the Creditor and the Lender for any purpose.

      16. IMPROPER ACTION BY CREDITOR. If the Creditor, the Borrower or both,
contrary to this Agreement, make, attempt to or threaten to allow the Creditor
to exercise its remedies against the Borrower under the Creditor Documents, or
make any payment or take any action contrary to this Agreement, the Lender may
restrain or enjoin the Creditor and the Borrower from so doing, it being
expressly understood and agreed by the Creditor and the Borrower that: (i) the
Lender's damages from their actions may at that time be difficult to ascertain
and may be irreparable, and (ii) the Creditor and the Borrower waive any defense
or claim that the Lender or the Borrower cannot demonstrate damages or can be
made whole by the awarding of damages.

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      17. INDEMNIFICATION OF LENDER. The Creditor agrees to indemnify and to
hold the Lender, its officers, directors, agents and employees harmless for any
and all losses, damages, liabilities, expenses and obligations, including
reasonable attorneys' fees and expenses, as they arise, relating to actions of
the Creditor taken contrary to this Agreement.

      18. NOTICES. All notices, demands, requests, consents, approvals and other
communications required or permitted hereunder must be in writing and will be
effective upon receipt. Such notices and other communications may be
hand-delivered, sent by facsimile transmission with confirmation of delivery
with a copy sent by first-class mail, or sent by nationally recognized overnight
courier service, to a party's address set forth below or to such other address
as any party may give to the other in writing for such purpose:

To the Lender:                       Keltic Financial Partners, LP
                                     555 Theodore Fremd Avenue
                                     Suite C-207
                                     Rye, New York 10580
                                     Attention: John P. Reilly, Managing Partner
                                     Telephone No.: (914) 921-3555, Ext. 208
                                     Facsimile No.: (914) 921-1154

To the Borrower:                     MMAC Communications Corp.
                                     Attn: Alex Roque, Chief Financial Officer
                                     900 Huyler Street
                                     Teterboro, New Jersey 07608
                                     Telephone No.: (201) 440-8585
                                     Facsimile No.: (201) 440-1311

To the Creditor:                     ViewCast.com, Inc.
                                     Attn: Chief Financial Officer
                                     17300 Dallas Parkway, Suite 2000
                                     Dallas, Texas 75248
                                     Telephone No.: (972) 488-7200
                                     Facsimile No.: (972) 488-7299

With a copy to:                      Haynes and Boone, LLP
                                     Attn: Janice V. Sharry, Esq.
                                     901 Main Street, Suite 3100
                                     Dallas, Texas 75202
                                     Telephone No.: (214) 651-5562
                                     Facsimile No.: (214) 200-0676

      19. PRESERVATION OF RIGHTS. No delay or omission on the Lender's part to
exercise any right or power arising hereunder will impair any such right or
power or be considered a waiver of any

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such right or power, nor will the Lender's action or inaction impair any such
right or power. The Lender's rights and remedies hereunder are cumulative and
not exclusive of any other rights or remedies which the Lender may have under
other agreements, at law or in equity. Nothing in this Agreement is intended to
modify, alter, reduce or impair any rights which the Lender or the Creditor may
have against the Borrower under the Loan Documents or the Creditor Documents,
respectively, or under any other agreement between them, or either of them, and
the Borrower.

      20. ILLEGALITY. In case any one or more of the provisions contained in
this Agreement should be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein shall not in any way be affected or impaired thereby.

      21. CHANGES IN WRITING. No modification, amendment or waiver of any
provision of this Agreement nor consent to any departure by the Borrower or the
Creditor therefrom, will be effective unless made in a writing and signed by the
Lender, and then such waiver or consent shall be effective only in the specific
instance and for the purpose for which given.

      22. ENTIRE AGREEMENT. This Agreement (including the documents and
instruments referred to herein) constitutes the entire agreement and supersedes
all other prior agreements and understandings, both written and oral, among the
parties with respect to the subject matter hereof.

      23. COUNTERPARTS. This Agreement may be signed in any number of
counterpart copies and by the parties hereto on separate counterparts, but all
such copies shall constitute one and the same instrument. Delivery of an
executed counterpart of a signature page to this Agreement by facsimile
transmission shall be effective as delivery of a manually executed counterpart.
Any party so executing this Agreement by facsimile transmission shall promptly
deliver a manually executed counterpart, provided that any failure to do so
shall not affect the validity of the counterpart executed by facsimile
transmission.

      24. SUCCESSORS AND ASSIGNS. This Agreement will be binding upon and inure
to the benefit of the Borrower, the Creditor and the Lender and their respective
heirs, executors, administrators, successors and assigns; provided, however,
that neither the Borrower nor the Creditor may assign this Agreement in whole or
in part without the Lender's prior written consent and the Lender at any time
may assign this Agreement in whole or in part. No claims or rights are intended
to be created hereunder for the benefit of the Borrower or any alleged third
party beneficiary hereof.

      25. INTERPRETATION. In this Agreement, unless the parties otherwise agree
in writing, the singular includes the plural and the plural the singular; words
importing any gender include the other genders; the word "or" shall be deemed to
include "and/or", the words "including", "includes" and "include" shall be
deemed to be followed by the words "without limitation"; references to articles,
sections (or subdivisions of sections) or exhibits are to those of this
Agreement unless otherwise indicated; and references to agreements and other
contractual instruments shall be

                                      -8-
<PAGE>

deemed to include all subsequent amendments and other modifications to such
instruments, but only to the extent such amendments and other modifications are
not prohibited by the terms of this Agreement. Section headings in this
Agreement are included for convenience of reference only and shall not
constitute a part of this Agreement for any other purpose. If this Agreement is
executed by more than one party as Borrower or by more than one party as
Creditor, the obligations of such persons or entities hereunder will be joint
and several.

      26. GOVERNING LAW AND JURISDICTION. This Agreement has been delivered to
and accepted by the Lender and will be deemed to be made in the State where the
Lender's office indicated above is located. THIS AGREEMENT WILL BE INTERPRETED
AND THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO DETERMINED IN ACCORDANCE
WITH THE LAWS OF THE STATE WHERE THE LENDER'S OFFICE INDICATED ABOVE IS LOCATED,
EXCLUDING ITS CONFLICT OF LAWS RULES. Each of the Borrower and the Creditor
hereby irrevocably consents to the exclusive jurisdiction of any state or
federal court in the county or judicial district where the Lender's office
indicated above is located; provided that nothing contained in this Agreement
will prevent the Lender from bringing any action, enforcing any award or
judgment or exercising any rights against the Borrower or the Creditor
individually, against any security or against any property of the Borrower
within any other county, state or other foreign or domestic jurisdiction. The
parties hereto agree that the venue provided above is the most convenient forum
for each of the parties. Each of the Borrower and the Creditor waives any
objection to venue and any objection based on a more convenient forum in any
action instituted under this Agreement.

      27. WAIVER OF JURY TRIAL. EACH OF THE BORROWER, THE CREDITOR AND THE
LENDER IRREVOCABLY WAIVES ANY AND ALL RIGHT IT MAY HAVE TO A TRIAL BY JURY IN
ANY ACTION, PROCEEDING OR CLAIM OF ANY NATURE RELATING TO THIS AGREEMENT, ANY
DOCUMENTS EXECUTED IN CONNECTION WITH THIS AGREEMENT OR ANY TRANSACTION
CONTEMPLATED IN ANY OF SUCH DOCUMENTS. THE BORROWER, THE CREDITOR AND THE LENDER
ACKNOWLEDGE THAT THE FOREGOING WAIVER IS KNOWING AND VOLUNTARY.

                     [END OF TEXT - SIGNATURE PAGE FOLLOWS]

                                      -9-
<PAGE>

      WITNESS the due execution hereof as a document under seal, as of the date
first written above.

                                       BORROWER:

WITNESS/ATTEST:                        MMAC COMMUNICATIONS CORP.

/s/ FREDERICK B. COWEN                 By: /s/ LAURIE L. LATHAM
----------------------------------        --------------------------------------
Name: Frederick B. Cowen                  Laurie L. Latham
Title: Secretary                          Chief Financial Officer

                                       CREDITOR:
WITNESS/ATTEST:
                                       ViewCast.com, Inc.

/s/ FREDERICK B. COWEN                 By: /s/ LAURIE L. LATHAM
----------------------------------        --------------------------------------
Name: Frederick B. Cowen                  Laurie L. Latham
Title: Secretary                          Chief Financial Officer

                                       LENDER:

                                       KELTIC FINANCIAL PARTNERS, LP
                                       By:  Keltic Financial Services LLC,
                                            General Partner

                                       By: /s/ JOHN P. REILLY
                                          --------------------------------------
                                          Name: John P. Reilly
                                          Title: Managing Partner

                                      -10-<PAGE>
                                                                    EXHIBIT 10.8

                           GENERAL SECURITY AGREEMENT

                  This General Security Agreement ("Agreement") is made as of
this 11th day of October, 2002, between MMAC Communications Corp. ("Debtor"), a
corporation organized and existing pursuant to the laws of the State of
Delaware, having an address at 900 Huyler Street, Teterboro, New Jersey 07608
and KELTIC FINANCIAL PARTNERS, LP ("the Lender"), a Delaware limited
partnership, with a place of business at 555 Theodore Fremd Avenue, Suite C-207,
Rye, New York 10580.

                                    ARTICLE I
                                   DEFINITIONS

                  All words and terms used in this Agreement shall have the
meanings as set forth herein and where not otherwise defined herein shall be
deemed to have the meanings as accorded to them in the Uniform Commercial Code
as in effect from time to time ("UCC").

                  SECTION 1.1 "Account Debtor" shall mean any Person who is or
may become obligated under or on account of any Receivable.

                  SECTION 1.2 "Agreement" shall mean this General Security
Agreement.

                  SECTION 1.3 "Collateral" shall have the meaning given to such
term in Section 2.1 hereof.

                  SECTION 1.4 "Credit Agreement" shall mean the Revolving Loan
Agreement dated the date hereof between Debtor and the Lender, as the same may
be modified, amended, restated or replaced from time to time.

                  SECTION 1.5 "Deposit Accounts" shall have the meaning given to
such term in the UCC.

                  SECTION 1.6 "Equipment" shall mean all machinery, equipment,
office machinery, furniture, fixtures, conveyors, tools, materials storage and
handling equipment, molds, dies, stamps and other equipment of every kind and
nature and wherever situated now or hereafter owned by Debtor or in which Debtor
may have any interest (to the extent of such interest), together with all
additions and accessions thereto, all replacements and all accessories and parts
therefor, all manuals, blueprints, know-how, warranties and records in
connection therewith, all rights against suppliers, warrantors, manufacturers,
sellers or others in connection therewith, and together with all substitutes for
any of the foregoing.

                  SECTION 1.7 "General Intangibles" shall mean all general
intangibles, including, without limitation, all choses in action, causes of
action, payment intangibles, corporate or other business records, deposit
accounts, inventions, blueprints, designs, patents, patent applications,
trademarks, trademark applications, trade names, trade secrets, good will, brand
names, copyrights, registrations, licenses, franchises, customer lists, tax
refund claims, computer

                                       1
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programs and software, operational manuals, capitalized finance costs,
origination fees, all equipment formulations, manufacturing procedures, quality
control procedures and product specifications relating to products sold under
patents, trademarks or copyrights owned by Debtor or in which Debtor has an
interest, the right to sue for all past, present and future infringements of
such patents, trademarks and copyrights, all claims under guaranties, security
interests or other security held by or granted to Debtor to secure payment of
any of the Receivables by an Account Debtor, all rights to indemnification and
all other intangible property of every kind and nature (other than Receivables).

                  SECTION 1.8 "Guaranty" shall mean the Guaranty of Payment and
Performance by Debtor to the Lender dated of even date herewith, as the same may
be modified, amended, restated or replaced from time to time.

                  SECTION 1.9 "Inventory" shall have the meaning given to such
term in the UCC.

                  SECTION 1.10 "Investment Property" shall have the meaning
given to such term in the UCC.

                  SECTION 1.11 "Instruments" shall have the meaning given to
such term in the UCC.

                  SECTION 1.12 "Loan Documents" shall mean the Revolving Note
(as defined in the Credit Agreement), the Credit Agreement, the Guaranty,
together with this Agreement and any and all other documents, instruments or
agreements executed in connection therewith as the same may be modified,
amended, restated or replaced from time to time.

                  SECTION 1.13 "Letter-of-Credit Rights" shall have the meaning
given to such term in the UCC.

                  SECTION 1.14 "Obligations" shall mean and include all loans,
advances, debts, liabilities, obligations, covenants and duties owing by Debtor
to the Lender of any kind or nature, present or future, whether or not evidenced
by any note, guaranty or other instrument, whether arising under this Agreement,
the other Loan Documents or under any other agreement or by operation of law,
whether or not for the payment of money, whether arising by reason of an
extension of credit, opening, guaranteeing or confirming of a letter of credit,
loan, guaranty, indemnification or in any other manner, whether direct or
indirect (including those acquired by assignment), absolute or contingent, due
or to become due, now due or hereafter arising and however acquired, including,
without limitation, all interest, charges, expenses, commitment, facility,
collateral management or other fees, attorneys' fees and expenses, and any other
sum chargeable to Debtor under this Agreement, the other Loan Documents or any
other agreement with the Lender.

                  SECTION 1.15 "Person" shall mean an individual, partnership,
limited liability company, limited liability partnership, corporation, joint
venture, joint stock company, land trust, business trust or unincorporated
organization, or a government agency or political subdivision thereof,

                                       2
<PAGE>

                  SECTION 1.16 "Property" shall mean any interest in any kind of
property or asset, whether real, personal or mixed, or tangible or intangible.

                  SECTION 1.17 "Receivables" shall mean and include all present
and future Accounts, including, without limitation, healthcare receivables,
credit card receivables, software and license fees, contract rights, promissory
notes, Chattel Paper, Electronic Chattel Paper, Instruments and Documents, all
tax refunds and rights to receive tax refunds, bonds, certificates, rights to
payment for the sale, lease or license of equipment and policies of insurance
and insurance proceeds, investment securities, notes and instruments, deposit
accounts, book accounts, credits and reserves and all forms of obligations
whatsoever owing, together with all instruments, all documents of title
representing any of the foregoing, and all rights in any merchandise or goods
which any of the same may represent, all files and records with respect to any
collateral or security given by Debtor to the Lender, together with all right,
title, security and guaranties with respect to each Receivable, including any
right of stoppage in transit, whether now owned or hereafter created or acquired
by Debtor or in which Debtor now has or hereafter acquires any interest.

                                   ARTICLE II
                                SECURITY INTEREST

                  SECTION 2.1 SECURITY INTEREST. To secure the prompt payment
and performance of all of the Obligations to the Lender, Debtor hereby grants to
the Lender a first priority lien and security interest in all of the following
property and interests in Property of Debtor, whether now owned or existing or
hereafter created, acquired or arising and wheresoever located (collectively
"Collateral"):

                  (a) All Receivables;

                  (b) All Inventory;

                  (c) All Equipment;

                  (d) All General Intangibles;

                  (e) All Investment Property;

                  (f) All Deposit Accounts;

                  (g) Letter-of-Credit Rights;

                  (h) Money (of every jurisdiction whatsoever);

                  (i) All monies or other Property of any kind, now or at any
time or times hereafter, in the possession or under the control of the Lender or
any affiliate of the Lender or any representative, agent or correspondent of the
Lender;

                                       3
<PAGE>

                  (j) All accessions to, substitutions for and all replacements,
products and cash and non-cash proceeds of (a), (b), (c), (d), (e), (f), (g),
(h) and (i) above, including, without limitation, proceeds of and unearned
premiums with respect to insurance policies insuring any of the Collateral and
claims against any Person for loss of, damage to, or destruction of any or all
of the Collateral; and

                  (k) All books and records (including, without limitation,
customer lists, credit files, computer programs, printouts and other computer
materials and records) of Debtor pertaining to any of (a), (b), (c), (d), (e),
(f), (g), (h), (i) or (j) above.

                  Notwithstanding any of the foregoing, Collateral shall not
include the ViewCast Obligation (as defined in the Credit Agreement).

                  SECTION 2.2 PERFECTION. Debtor will execute and deliver to the
Lender such security agreements, assignments (including, without limitation,
assignments of specific Accounts, Chattel Paper and General Intangibles), and
other papers as the Lender may at any time or from time to time reasonably
request that are required to perfect or protect the security interest granted
hereby. Debtor shall also cooperate with the Lender in obtaining appropriate
waivers or subordinations of interests from such third parties in any Collateral
and Debtor shall cooperate with the Lender in obtaining control of Collateral
consisting of Deposit Accounts, Investment Property, Letter-of-Credit Rights or
Electronic Chattel Paper. In the event that the Lender requests, during the
existence of a Default or an Event of Default (as defined in the Credit
Agreement), Debtor shall instruct its Account Debtors to remit payments directly
to the Lender or to the Lender's designee, which may be a Lockbox. Debtor
authorizes the Lender to execute alone any financing statements or other
documents or instruments that the Lender may require to perfect, protect or
establish any lien or security interest granted to the Lender by Debtor and
further authorizes the Lender to sign Debtor's name on the same and\or to file
or record the same without Debtor's signature thereon. Debtor will perform any
and all steps that the Lender may request to perfect the Lender's security
interest in Inventory, including, but without limitation, placing and
maintaining signs, appointing custodians, executing and filing financing or
continuation statements in form and substance satisfactory to the Lender,
maintaining stock records and transferring of Inventory to warehouses. If any
Inventory is in the possession or control of any third party other than a
purchaser in the ordinary course of business or a public warehouseman where the
warehouse receipt is in the name of or held by the Debtor, Debtor shall notify
such person of the Lender's security interest therein and, instruct such person
or persons to hold all such Inventory for the account and benefit of the Lender
and subject to the Lender's instructions. Debtor will deliver to the Lender
warehouse receipts covering any Inventory located in warehouses showing the
Lender as the beneficiary thereof and will also deliver to the warehouseman such
agreements relating to the release of warehouse Inventory as the Lender may
request. If the Collateral is a motor vehicle or any other personal property
required to be titled under applicable law, Debtor warrants that the Lender's
security interest will be recorded on the title certificates covering the
Collateral and will deliver such certificates or other evidence of ownership to
the Lender as the Lender requests. Debtor hereby appoints the Lender as its
attorney in fact to execute and deliver notices of lien, financing statements,
assignments, and any other documents, notices, and agreements necessary for the
perfection of

                                       4
<PAGE>

the Lender's security interests in the Collateral. Debtor appoints such person
or persons as the Lender may designate as Debtor's attorney-in-fact to endorse
the name of Debtor on any checks, notes, drafts or other forms of payment or
security that may come into the possession of the Lender or any Affiliate of the
Lender, to sign Debtor's name on invoices or bills of lading, drafts against
customers, notice of assignment, verifications and schedules and, generally, to
do all things necessary to carry out this Agreement. Upon the occurrence of a
Default or Event of Default and during the continuation therein, such
attorney-in-fact may notify the Post Office authorities to change the address of
delivery of mail to an address designated by the Lender, and open and dispose of
mail addressed to Debtor. The powers granted herein, being coupled with an
interest, are irrevocable, and Debtor approves and ratifies all acts of the
attorney-in-fact. Neither the Lender nor the attorney-in-fact shall be liable
for any act or omission, error in judgment or mistake of law so long as the same
is not willful or grossly negligent. Debtor agrees to pay the costs of the
continuation of the Lender's security interests and releases or assignments of
the Lender's interests.

                  Debtor shall provide written notice to Lender of any
commercial tort claim to which Debtor is or becomes a party or which otherwise
inures to the benefit of Debtor. Such notice shall contain a sufficient
description of such commercial tort claim including the parties, the court in
which the claim is commenced (if applicable), the docket number assigned to the
case (if applicable) and a detailed explanation of the events giving rise to
such claim. Debtor shall grant Lender a security interest in such commercial
tort claim to secure payment of the Obligations. Debtor shall execute and
deliver such instruments, documents and agreements as Lender may reasonably
require in order to obtain and perfect such security interest including, without
limitation, a security agreement or amendment to this Agreement all in form and
substance satisfactory to Lender. Debtor authorizes Lender to file financing
statements or amendments to existing financing statements as Lender deems
necessary to perfect the security interest. Debtor shall provide Lender with
written notice of any letters of credit for which Debtor is the beneficiary.
Debtor shall execute and deliver such instruments, documents and agreements and
take such actions as Lender may reasonably require in order to obtain and
perfect its security interest in such Letter of Credit Rights.

                                   ARTICLE III
                    REPRESENTATIONS, WARRANTIES AND COVENANTS

                  Debtor represents, warrants and covenants to the Lender, and
shall be deemed to continually do so, as long as this Agreement shall remain in
force, that:

                  SECTION 3.1 INVENTORY.

                  (a) WARRANTIES WITH RESPECT TO INVENTORY. Debtor represents
and warrants to the Lender that (i) all representations made by Debtor to the
Lender and all documents and schedules given by Debtor to the Lender, relating
to the description, quantity, quality, condition and valuation of Inventory are
true and correct in all material respects, and (ii) Debtor has not received any
Inventory on consignment or approval unless Debtor has notified the Lender
thereof in a Record, has marked such Inventory on consignment or approval or has
segregated it

                                       5
<PAGE>

from all other Inventory, and has appropriately marked its records to reflect
that such Inventory is held on consignment or approval.

                  (b) LENDER'S RIGHTS IN INVENTORY. The Lender's security
interests in the Inventory shall continue through all steps of manufacture and
sale and attach without further act to raw materials, work in process, finished
goods, returned goods, documents of title, warehouse receipts, and to proceeds
resulting from sale or disposition of Inventory. Until all Obligations of Debtor
to the Lender have been satisfied, the Lender's security interest in Inventory
and in all proceeds thereof shall continue in full force and effect. Upon the
occurrence of an Event of Default (as defined below), the Lender shall have, in
its discretion and at any time, the right to take physical possession of the
Inventory and to maintain it on Debtor's premises, in a public warehouse, or at
such place as the Lender may remove the Inventory or any part thereof. If the
Lender exercises its right to take possession of Inventory, Debtor will, upon
demand, and at Debtor's own cost and expense assemble the Inventory and make it
available to the Lender at a place or places reasonably convenient to the
Lender.

                  (c) DEBTOR'S OBLIGATION WITH RESPECT TO INVENTORY. All
Inventory is and shall be maintained at the locations shown on Schedule 3.1(c)
hereof. Other than Inventory that has become obsolete, no Inventory shall be
removed therefrom, except for the purpose of sale or in the ordinary course of
Debtor's business, and except for such sales, Debtor will not sell, encumber,
grant a security interest in, dispose of or permit the sale, encumbrance, or
disposal of any Inventory without the Lender's prior consent contained in an
Authenticated Record. If sales are made for cash, Debtor shall immediately
deliver to the Lender the identical checks or other forms of payment, which it
receives. In the event that Inventory is stored with the manufacturer thereof,
Debtor shall use its best efforts to cause such manufacturer to enter into a no
offset agreement with the Lender which agreement is in form and substance
satisfactory to the Lender.

                  (d) FURTHER OBLIGATIONS OF DEBTOR WITH RESPECT TO INVENTORY.
From time to time, and at least once every month in any event, Debtor shall
execute and deliver to the Lender, a confirmatory Record, in form and substance
satisfactory to the Lender, listing Debtor's Inventory, but any failure to
execute or deliver the same shall not affect or limit the Lender's security
interest in and to the Inventory.

                  (e) MAINTENANCE OF INVENTORY RECORDS. Debtor shall maintain
accurate and complete records respecting Inventory, including a perpetual
inventory, and all other Collateral at all times. Debtor will pay all costs to
be paid on taxes, assessments, governmental charges or private encumbrances
levied, assessed, imposed or payable upon or with respect to the Inventory,
Equipment or other Collateral or any part thereof.

                  (f) INVENTORY REPORT. A physical verification of all Inventory
wherever located will be taken by Debtor annually at the end of each year and as
often as reasonably required by the Lender, and a copy of such physical
verification shall be submitted to the Lender.

                                       6
<PAGE>

                  SECTION 3.2 RECEIVABLES.

                  (a) Debtor represents and warrants to the Lender that each
Receivable created by it (i) will cover a bona fide sale and delivery of
merchandise usually dealt in by Debtor in the ordinary course of its business or
will cover the rendition of services by Debtor to customers of a kind ordinarily
rendered in the ordinary course of Debtor's business, (ii) will be for a
liquidated amount from a customer competent to contract therefor, (iii) except
as otherwise provided in the Credit Agreement, is not subject to renegotiation,
(iv) is not subject to any prepayment or credit and will not be subject to any
deduction, offset, counterclaim, lien or other condition other than in the
ordinary course of Debtor's business, and (v) is generally enforceable in
accordance with its terms. Debtor further represents and warrants that all
services to be performed by Debtor in connection with each Receivable have been
performed or will be performed under a service contract.

                  (b) CONFIRMATORY WRITTEN ASSIGNMENTS. Promptly after the
creation of any Receivable, if the Lender shall so request, Debtor shall execute
and deliver confirmatory written assignments to the Lender of Receivables, but
the failure to execute or deliver any schedule or assignment shall not affect or
limit any lien or other right of the Lender in and to any Receivable. Debtor
shall cause all of its invoices to be printed and to bear consecutive numbers,
and to issue its invoices in such consecutive numerical order. On the Lender's
request therefor, Debtor shall also furnish to the Lender copies of invoices to
customers and shipping and delivery receipts or warehouse receipts thereof.
Debtor will also furnish the Lender with such other documents and instruments as
the Lender may request in connection with any Receivables, including detailed
monthly agings. Debtor shall deliver to the Lender the originals of all letters
of credit, notes, and instruments in its favor and such endorsements or
assignments as the Lender may request.

                  (c) NOTICE OF CERTAIN EVENTS. Debtor will notify the Lender of
all returns and recoveries of merchandise and of all claims asserted with
respect to merchandise which such returns, recoveries or claims exceed
$25,000.00 per occurrence. Debtor shall promptly report each such return,
repossession or recovery of merchandise to the Lender, advising it of the
location thereof and providing it with a description of such goods and its
location. Debtor shall not settle or adjust any dispute or claim, or grant any
discount (except ordinary trade discounts), credit or allowance or accept any
return of merchandise (except in the ordinary course of Debtor's business,
provided that, such credit, allowance or return does not exceed $25,000.00),
without the Lender's consent. Upon the occurrence of an Event of Default, the
Lender may settle or adjust disputes or claims directly with customers or
Account Debtors of Debtor for amounts and upon terms which it considers
advisable. Where Debtor receives Collateral of any kind or nature by reason of
transactions between itself and its customers or Account Debtors, it will hold
the same on the Lender's behalf, subject to the Lender's instructions, and as
property forming part of the Receivables. Where Debtor sells to a customer or
Account Debtor which also sells to it or which may have other claims against it,
Debtor will so advise the Lender, promptly upon being notified of such order.

                  (d) COMMUNICATION WITH ACCOUNT DEBTORS. Debtor authorizes the
Lender, before or after and during the occurrence of an Event of Default,
without notice to or the consent of Debtor, to communicate directly with
customers or Account Debtors by whatever means the

                                       7
<PAGE>

Lender shall elect for the purpose of verifying the information supplied by
Debtor to the Lender with respect to Receivables. Upon the Lender's request,
before or after the occurrence of an Event of Default, Debtor shall provide the
Lender with a list of the addresses of its Account Debtors.

                  SECTION 3.3

                  (a) EQUIPMENT. Attached hereto as Schedule 3.3(a) is a list
describing the location where the Debtor's Equipment is kept. Such list
indicates whether such premises are owned or leased by Borrower or whether the
premises are the premises of another Person, and if leased, the name and address
of such other Person. All Equipment hereafter acquired will be kept at the
location or locations shown on the Schedule unless Debtor shall have first
advised the Lender of its intention to maintain any Equipment at some other
location and obtained the Lender's prior consent contained in an Authenticated
Record. Notwithstanding anything contained herein to the contrary, certain of
Debtor's Equipment may, from time to time, be located at Debtor's customers'
locations. Debtor shall not be required to obtain Lender's prior consent to
locate any such Equipment at its customers' locations, provided such practice is
done in the ordinary course of Debtor's business. Debtor shall furnish updates
to Schedule 3.3(a) upon Lender's request.

                  (b) DEBTOR'S OBLIGATIONS WITH RESPECT TO EQUIPMENT. Debtor
shall keep all of its Equipment in a good state of repair, and will make all
repairs and replacements when and where necessary, will not waste or destroy
Equipment or any part thereof, and will not be negligent in the care, or use,
thereof. Debtor shall keep accurate lists and records reflecting its Equipment
and shall retain copies of all warranties, manuals and manufacturers or vendors'
requirements with respect thereto. All Equipment shall be used in accordance
with law and prudent business practice and the manufacturer's instructions and
shall be kept separate from and shall not be annexed or affixed to or become
part of the realty except where the Lender first consents in an Authenticated
Record.

                  SECTION 3.4 OWNERSHIP OF COLLATERAL. Debtor is the owner of
the Collateral with good, marketable and indefeasible title thereto, free and
clear of all liabilities, mortgages, security interests, leases, liens, pledges,
encumbrances, restrictions, charges, claims or imperfections of title (other
than those listed on Schedule 5.17 of the Credit Agreement) whatsoever.

                  SECTION 3.5 MAINTENANCE OF COLLATERAL. Debtor shall
continually take such steps as are necessary and prudent to protect the interest
of the Lender in the Collateral including, but not limited to, the following:

                  (a) Maintain books and records relating to the Collateral
satisfactory to the Lender and shall allow the Lender or its representatives
access to such records and the Collateral at all reasonable times for the
purpose of examination, inspection, verification, copying, extracting and other
reasonable purposes as the Lender may require;

                                       8
<PAGE>

                  (b) Maintain the Collateral and the books and records relating
to the Collateral at Debtor's address indicated above, at any address listed on
Schedule A or at such other address as the Lender shall permit, in its sole
discretion, upon the request to the Lender contained in an Authenticated Record
from Debtor;

                  (c) Execute and deliver to the Lender such other and further
documentation necessary to evidence, effectuate or perfect its security interest
in the Collateral;

                  (d) Defend the Collateral against all claims and demands of
third parties at any time claiming the same or any interest therein, except
buyers of Inventory in the ordinary course of Debtor's business;

                  (e) Keep the Collateral free of all liens and encumbrances,
except for the security interest of the Lender, and Debtor will not, without
prior consent of the Lender contained in an Authenticated Record, sell, transfer
or otherwise dispose of the Collateral or any interest therein, in bulk or
otherwise, except in the ordinary course of business;

                  (f) Notify the Lender in the event of material loss or damage
to the Collateral or of any material adverse change in Debtor's business or the
Collateral, or of any other occurrences which could materially and adversely
affect the security of the Lender;

                  (g) Pay all expenses incurred in the manufacture, delivery,
storage or other handling of the Collateral and all taxes which are or may
become a lien on the Collateral, promptly when due, and in any event reimburse
the Lender, on demand, for any expenses which the Lender might incur following
the occurrence of an Event of Default, in satisfying such expenses or taxes,
which the Lender, in its sole discretion, deems necessary in order to protect
the Collateral;

                  (h) Maintain insurance on the Collateral from carriers
acceptable to Lender of such types, coverage, form and amount as is usually
carried on similar goods by similar enterprises. In the event Debtor fails to
maintain such insurance, the same may be maintained by the Lender, at its
option, and Debtor shall reimburse the Lender for the cost thereof, on demand;
and

                  (i) If requested by the Lender: (i) mark its records
evidencing the Collateral in a manner satisfactory to the Lender so as to
indicate the security interest of the Lender hereunder; (ii) furnish to the
Lender any Chattel Paper, invoices, documents, schedules, purchase orders,
delivery receipts, contracts or other documents representing or relating to any
of the Collateral; (iii) promptly reflect in its books, records, and reports to
the Lender the rejection of goods, delay in delivery or performance, or claims
made, in regard to any Collateral and after an Event of Default inform the
Lender immediately of any of the same; (iv) prior to an Event of Default, with
respect to material debtors and obligors, and thereafter with respect to all
debtors and obligors, furnish to the Lender all information received by Debtor
indicating a material adverse change in the financial standing of any Account
Debtor, debtor under any General Intangible, or obligor under any Chattel Paper;
(v) immediately notify the Lender if any of the Collateral arises out of
contracts for the improvement of real property, deals with a public improvement
or is with the United States, any state, or any department, agency or
instrumentality

                                       9
<PAGE>

thereof, and execute any instruments and take any steps required by the Lender
in order that all moneys due or to become due under any such contract shall be
assigned to the Lender and notice thereof be given as required by law; (vi)
furnish to the Lender such financial statements, reports, certificates, lists of
Account Debtors (showing names, addresses, telephone and facsimile numbers, and
amounts owing) and other data concerning the Collateral and other matters as the
Lender may, from time to time, request; and (vii) fully cooperate with the
Lender in the exercising of its rights and methods for verification of the
Collateral.

                  SECTION 3.6 AUTHORITY. Debtor is authorized to enter into and
implement this Agreement and has taken all necessary actions, corporate or
otherwise, in relation to such authorization.

                  SECTION 3.7 FIXTURES/LANDLORDS. The Collateral will remain
personalty and will not be permanently affixed to real estate without the prior
consent of the Lender contained in an Authenticated Record. If any of the
Collateral is or will be a fixture, Debtor will provide legal descriptions and
the names of record owners of the premises to which the Collateral will be
affixed sufficient for perfection of the security interests of the Lender.
Debtor will provide disclaimers of interest and removal agreements, in form
satisfactory to the Lender.

                                   ARTICLE IV
                                EVENTS OF DEFAULT

                  Any of the following events or occurrences shall constitute an
"Event of Default" under this Agreement: the occurrence of any Event of Default
under any of the Loan Documents.

                                    ARTICLE V
                              RIGHTS OF THE LENDER

                  SECTION 5.1 GENERAL RIGHTS. The rights of the Lender shall at
all times be those of a secured party under the UCC. Without limiting the
generality of the foregoing, the Lender shall have the additional rights set
forth in this Agreement.

                  SECTION 5.2 LENDER'S RIGHT TO PERFORM DEBTOR'S OBLIGATIONS. In
the event that Debtor shall fail to purchase or maintain insurance, or to pay
any tax, assessment, government charge or levy, except as the same may be
otherwise permitted hereunder, or in the event that any lien, encumbrance or
security interest prohibited hereby shall not be paid in full or discharged, or
in the event that Debtor shall fail to perform or comply with any other
covenant, promise or Obligation to the Lender hereunder or under any other Loan
Document, the Lender may, but shall not be required to, perform, pay, satisfy,
discharge or bond the same for the account of Debtor, and all monies so paid by
the Lender, including actual attorneys' fees and expenses, shall be treated as
part of the Obligations.

                  SECTION 5.3 COLLECTIONS; MODIFICATION OF TERMS. Without
limiting any rights the Lender may have pursuant to this Agreement or otherwise,
upon the occurrence and during the continuance of an Event of Default, the
Lender may demand, sue for, collect and give receipts for any money, Instruments
or property payable or receivable on account of or in

                                       10
<PAGE>

exchange for any of the Collateral, or make any compromises it deems necessary
or proper, including without limitation, extending the time of payment,
permitting payment in installments, or otherwise modifying the terms or rights
relating to any of the Collateral, all of which may be effected without notice
to or consent by Debtor and without otherwise discharging or affecting the
Obligations, the Collateral or the security interest granted under this
Agreement or any of the Loan Documents.

                  SECTION 5.4 NOTIFICATION OF ACCOUNT DEBTORS. Without limiting
any rights of pursuant to this Agreement or under applicable law, after an Event
of Default has occurred, (i) Debtor, at the request of the Lender, shall notify
the Account Debtors of the Lender's security interest in Debtor's Receivables;
and (ii) the Lender may notify the Account Debtors on any of the Receivables to
make payment directly to the Lender, and the Lender may endorse all items of
payment received by it that are payable to Debtor. Debtor authorizes such
parties to make such payments directly to the Lender and to rely on notice from
the Lender without further inquiry. The Lender may demand and take all necessary
or desirable steps to collect such Collateral in either its or Debtor's, name,
with the right to enforce, compromise, settle, or discharge any of the
foregoing.

                  SECTION 5.5 INSURANCE. Without limiting any rights of the
Lender pursuant to this Agreement or under applicable law, after a Default or
Event of Default has occurred and during the continuation thereof, the Lender
may file proofs of loss and claim with respect to any of the Collateral with the
appropriate insurer, and may endorse in its own and Debtor's name any checks or
drafts constituting insurance proceeds. Any insurance proceeds received by the
Lender may be applied by it against Debtor's obligations under the Loan
Documents.

                  SECTION 5.6 WAIVER OF RIGHTS BY DEBTOR. Except as may be
otherwise specifically provided herein, Debtor waives, to the extent permitted
by law, any bonds, security or sureties required by any statute, rule or
otherwise by law as an incident to any taking of possession by the Lender of any
Collateral. Debtor authorizes the Lender, upon the occurrence of an Event of
Default, to enter upon any premises owned by or leased to Debtor where the
Collateral is kept, without obligation to pay rent or for use and occupancy,
through self help, without judicial process and without having first given
notice to Debtor or obtained an order of any court, and peacefully retake
possession thereof by securing at or removing same from such premises.

                  SECTION 5.7 LENDER'S RIGHTS. Debtor agrees that the Lender
shall not have any obligation to preserve rights to any Collateral against prior
parties or to marshall any Collateral of any kind for the benefit of any other
creditor of Debtor or any other Person. After the occurrence of an Event of
Default, the Lender is hereby granted a license or other right to use, without
charge, Debtor's labels, patents, copyrights, rights of use of any name, trade
secrets, trade names, trademarks and advertising matter, or any property of a
similar nature, as it pertains to the Collateral, in completing production of,
advertising for sale, and selling any Collateral and Debtor's rights under all
licenses and any franchise, sales or distribution agreements shall inure to the
Lender's benefit for such purpose.

                                       11
<PAGE>

                  SECTION 5.8 RIGHTS ON DEFAULT. Upon the occurrence of any
Event of Default, and after giving effect to any applicable grace period, in
addition to and without limiting any rights the Lender may have under any
agreement, document or instrument evidencing or representing any obligation of
Debtor to the Lender or executed in connection with any such obligation, the
Lender is hereby authorized to declare any or all of the Obligations to be
immediately due and payable, and the rights and remedies of the Lender with
respect to the Collateral shall be as set forth herein, in the UCC and as
otherwise available under applicable law.

                  The Lender may, without demand, advertising or notice, all of
which Debtor hereby waives (except as the same may be required by law), sell,
lease, license, dispose of, deliver and grant options to a third party to
purchase, lease or otherwise dispose of any and all Collateral held by it or for
its account at any time or times in one or more public or private sales or other
dispositions, for cash, on credit or otherwise, as such prices and upon such
terms as the Lender, in its sole discretion, deems advisable. Without requiring
notice to Debtor, all requirements of reasonable notice under this section shall
be met if such notice is mailed, postage prepaid, to Debtor at its address set
forth herein or such other address as Debtor may have provided to the Lender, in
a Record, at least ten (10) days before the time of such sale or disposition.
The Lender may, if it deems it reasonable, postpone or adjourn any sale of any
Collateral from time to time by an announcement at the time and place of the
sale to be so postponed or adjourned without being required to give a new notice
of sale, provided, however, that the Lender shall provide Debtor with written
notice of the time and place of such postponed or adjourned sale. The Lender may
be the purchaser at any such sale, and payment may be made, in whole or in part,
in respect of such purchase price by the application of Obligations due from
Debtor to the Lender. Debtor shall be obligated for, and the proceeds of sale
shall be applied first to, the costs of retaking, refurbishing, storing,
guarding, insuring, preparing for sale, and selling the Collateral, including
the reasonable fees and disbursements of attorneys, auctioneers, appraisers,
consultants and accountants employed by the Lender. Proceeds from the Sale or
other disposition or Collateral shall be applied to the payment, in whatever
order the Lender may elect, of all Obligations of Debtor. The Lender shall
return any excess to Debtor and Debtor shall remain liable for any deficiency.
Collateral securing purchase money security interests also secures non-purchase
money security interests. To the extent Debtor uses an advance under the Loan
Documents to purchase Collateral, Debtor's repayment of such advance shall apply
on a "first-in-first-out" basis so that the portion of the advance used to
purchase a particular item of Collateral shall be paid in the chronological
order the Debtor purchased the Collateral. Upon request of the Lender, Debtor
will assemble and make the Collateral available to the Lender, at a reasonable
place and time designated by the Lender. Debtor's failure to take possession of
any Collateral at any time and place reasonably specified by the Lender in a
Record to the Debtor shall constitute an abandonment of such Property.

                  The Lender shall not be responsible to Debtor for loss or
damage resulting from the Lender's failure to enforce or collect any Collateral
or any monies due or to become due under any liability of Debtor to the Lender.

                  After an Event of Default, Debtor (i) will make no change in
any Receivable or General Intangible, and (ii) shall receive as the sole
property of the Lender and hold in trust for

                                       12
<PAGE>

the Lender all monies, checks, notes, drafts, and other property (collectively
called "items of payment") representing the proceeds of any Collateral. During
the existence of an Event of Default, the Lender may but shall be under no
obligation to: (a) notify all appropriate parties that the Collateral, or any
part thereof, has been assigned to the Lender; (b) collect any Receivables or
General Intangibles in its or Debtor's name, and apply any such collections
against such obligations of Debtor to the Lender as the Lender may select; (c)
take control of any cash or non-cash proceeds of any item of the Collateral; (d)
compromise, extend or renew any Receivables, General Intangible, or Document, or
deal with the same as it may deem advisable; and (e) make exchanges,
substitutions or surrender of items comprising the Collateral.

                  SECTION 5.9 LENDER'S RIGHT OF SET-OFF. The Lender may, at any
time upon the occurrence of an Event of Default exists hereunder and without any
further notice to Debtor (such notice being expressly waived), set-off or apply
any and all deposits (general or special, time or demand, provisional or final)
at any time held by, or any other Indebtedness at any time owing by the Lender
or any participant in the Lender's loans, to Debtor to or for the credit or the
account of Debtor against any Obligation irrespective of whether any demand has
been made hereunder or whether such Obligation is mature.

                  SECTION 5.10 EXPENSE OF COLLECTION AND SALE. Debtor agrees to
pay all costs and expenses incurred by the Lender in connection with the
negotiation and preparation of this Agreement or any other document, or any
other Loan Documents executed in connection herewith, in determining the
Lender's rights under, and in enforcing and collecting the indebtedness
represented by the guaranty and in determining its rights under and enforcing
the security interests created by this Agreement, including, without limitation,
costs and expenses relating to taking, holding, insuring, preparing for sale,
appraising, selling or otherwise realizing on the Collateral, and reasonable
attorneys' fees and expenses in connection with any of the foregoing. All such
reasonable costs and expenses shall be payable on demand, and shall bear
interest, payable on demand, from the date of the Lender's payment of such costs
and expenses until payment in full is made by Debtor, at the highest rate of
interest permitted by law.

                  SECTION 5.11 COMPLIANCE WITH OTHER LAWS. The Lender may comply
with any applicable law requirements in connection with a disposition of the
Collateral, and compliance will not be considered adversely to effect the
commercial reasonableness of any sale of the Collateral.

                  SECTION 5.12 WARRANTIES. The Lender may sell the Collateral
without giving any warranties. Lender may specifically disclaim any warranties
of title or the like. This procedure will not be considered adversely to affect
the commercial reasonableness of any sale of the Collateral.

                  SECTION 5.13 SALES ON CREDIT. If the Lender sells any of the
Collateral on credit, Debtor will be credited only with payments actually made
by the purchaser, received by Lender and applied to the Obligations. If the
purchaser fails to pay for the Collateral, Lender may resell the Collateral, and
Debtor shall be credited with the proceeds of the sale.

                                       13
<PAGE>

                                   ARTICLE VI
                                  MISCELLANEOUS

                  SECTION 6.1 WAIVERS. Debtor expressly waives notice of
nonpayment, demand, presentment, protest or notice of protest in relation to the
Loan Documents or the Collateral. No delay or omission of the Lender in
exercising or enforcing any of its rights, powers, privileges, options or
remedies under this Agreement shall constitute a waiver thereof, and no waiver
by the Lender of any default by Debtor shall operate as a waiver of any other
default.

                  SECTION 6.2 REMEDIES NOT EXCLUSIVE. All rights and remedies of
the Lender under this Agreement shall be cumulative and not alternative or
exclusive, irrespective of any other collateral guaranty, right or remedy and
may be exercised by the Lender at such time or times and in such order as the
Lender, in its sole discretion, may determine, and are for the sole benefit of
the Lender. The exercise or failure to exercise such rights and remedies shall
not result in liability to Lender or others except in the event of willful
misconduct or bad faith by the Lender, and in no event shall the Lender be
liable for more than it actually receives as a result of the exercise or failure
to exercise such rights and remedies.

                  SECTION 6.3 SUCCESSORS AND SURVIVAL. This Agreement is entered
into for the benefit of the parties hereto and their successors and assigns. It
shall be binding upon and shall inure to the benefit of said parties, their
successors and assigns, and shall remain in force and effect until terminated as
to future transactions by a Record Authenticated by the parties. Lender shall
have the right, without the necessity of any further consent or authorization by
Debtor, to sell, assign, securitize or grant participation in all, or any
portion of, Lender's interest in the Loans, to other financial institutions of
the Lender's choice along such terms as are acceptable to Lender in its sole
discretion.

                  SECTION 6.4 NOTICES. Wherever this Agreement provides for
notice to any party (except as expressly provided to the contrary), it shall be
given by messenger, facsimile, certified U.S. mail with return receipt
requested, or nationally recognized overnight courier with receipt requested,
effective when received by the party to whom addressed, and shall be addressed
as follows, or to such other address as the party affected may hereafter
designate:

          If to the Lender:         Keltic Financial Partners, LP
                                    Attn:  John P. Reilly, Managing Partner
                                    555 Theodore Fremd Avenue, Suite C-207
                                    Rye, New York 10580
                                    Tel:  (914) 921-3555 (ext. 208)
                                    Fax: (914) 921-1154

          With a copy to:           Pitney, Hardin, Kipp & Szuch LLP
                                    Attn:  Michael P. Turner, Esq.
                                    200 Campus Drive
                                    Florham Park, New Jersey 07932
                                    Tel:  (973) 966-8432
                                    Fax:  (973) 966-1550

                                       14
<PAGE>

          If to Debtor:             MMAC Communications Corp.
                                    Attn:  President
                                    900 Huyler Street
                                    Teterboro, New Jersey 07608
                                    Tel:  (201) 440-8585
                                    Fax:  (201) 440-6726

          With a copy to:           ViewCast.com, Inc.
                                    Attn:  Chief Financial Officer
                                    17300 Dallas Parkway, Suite 2000
                                    Dallas, Texas 75248
                                    Tel:  (972) 488-7200
                                    Fax:  (972) 488-7299

                                    and to:

                                    Haynes and Boone, LLP
                                    Attn: Janice V. Sharry
                                    901 Main Street, Suite 3100
                                    Dallas, Texas 75202
                                    Tel: (214) 651-5562
                                    Fax: (214) 200-0676

                  SECTION 6.5 ENTIRE AGREEMENT; AMENDMENTS; LENDER'S CONSENT.
This Agreement (including the Exhibits and Schedules thereto) and the other Loan
Documents supersede, with respect to their subject matter, all prior and
contemporaneous agreements, understandings, inducements or conditions between
the respective parties, whether express or implied, oral or written. No
amendment or waiver of any provision of this Agreement or any of the Loan
Documents, nor consent to any departure by Debtor therefrom, shall in any event
be effective unless the same shall be in a Record Authenticated by the Lender,
and then such waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given.

                  SECTION 6.6 CROSS DEFAULT; CROSS COLLATERAL. Debtor hereby
agrees that (a) all other agreements between Debtor and the Lender are hereby
amended so that a default under this Agreement is a default under all such other
agreements and a default under any of such other agreements is a default under
this Agreement, and (b) the Collateral under this Agreement secures the
Obligations now or hereafter outstanding under all other agreements between
Debtor and the Lender and the Collateral pledged under any other agreement with
the Lender secures the Obligations under this Agreement.

                  SECTION 6.7 EXECUTION IN COUNTERPARTS. This Agreement may be
executed in any number of counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute but
one and the same agreement.

                                       15
<PAGE>

                  SECTION 6.8 SEVERABILITY OF PROVISIONS. Any provision of this
Agreement or any of the other Loan Documents that is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such prohibition or unenforceability without invalidating the remaining
provisions of this Agreement or the other Loan Documents or affecting the
validity or enforceability of such provision in any other jurisdiction.

                  SECTION 6.9 TABLE OF CONTENTS; HEADINGS. The table of contents
and headings preceding the text of this Agreement are inserted solely for
convenience of reference and shall not constitute a part of this Agreement or
affect its meaning, construction or effect.

                  SECTION 6.10 EXHIBITS AND SCHEDULES. All of the Exhibits and
Schedules to this Agreement are hereby incorporated by reference herein and made
a part hereof.

                  SECTION 6.11 CONFLICTS OF LAW. This Agreement shall be
governed by and construed in accordance with the internal laws of the State of
New York; provided, however, that if any of the Collateral shall be located in
any jurisdiction other than New York, the laws of such jurisdiction shall govern
the method, manner and procedure for foreclosure of the Lenders' lien upon such
Collateral and the enforcement of the Lender's other remedies in respect of such
Collateral to the extent that the laws of such jurisdiction are different from
or inconsistent with the laws of New York. Notwithstanding the location where
this Agreement is executed and delivered by the Debtor, the location of the
execution and delivery of this Agreement shall be deemed to be in the State of
New York.

                  SECTION 6.12 WAIVER OF RIGHT TO JURY TRIAL. DEBTOR WAIVES THE
RIGHT TO TRIAL BY JURY IN THE EVENT OF ANY ACTION, SUIT, PROCEEDING,
COUNTERCLAIM OR OTHER LITIGATION TO WHICH LENDER AND DEBTOR ARE PARTIES IN
RESPECT OF ANY MATTER ARISING UNDER THIS AGREEMENT OR ANY OTHER MATTER INVOLVING
DEBTOR AND LENDER, WHETHER OR NOT OTHER PERSONS ARE ALSO PARTIES THERETO. DEBTOR
ACKNOWLEDGES THAT THE FOREGOING WAIVER IS A MATERIAL INDUCEMENT TO LENDER'S
ENTERING INTO THIS AGREEMENT AND THAT LENDER IS RELYING ON THE FOREGOING WAIVER
IN ITS FUTURE DEALINGS WITH DEBTOR. DEBTOR REPRESENTS AND WARRANTS THAT DEBTOR
REVIEWED THIS JURY WAIVER PROVISION WITH ITS LEGAL COUNSEL, AND HAS MADE THIS
WAIVER KNOWINGLY AND VOLUNTARILY.

                  SECTION 6.13 CONSENT TO JURISDICTION. AS PART OF THE
CONSIDERATION FOR NEW VALUE RECEIVED, AND REGARDLESS OF ANY PRESENT OR FUTURE
DOMICILE OR PRINCIPAL PLACE OF BUSINESS OF DEBTOR OR THE LENDER, DEBTOR HEREBY
CONSENTS AND AGREES THAT ANY FEDERAL OR STATE COURT LOCATED IN ANY COUNTY IN NEW
YORK STATE, SHALL HAVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES
BETWEEN DEBTOR AND THE LENDER PERTAINING TO THIS AGREEMENT OR TO ANY MATTER
ARISING OUT OF OR RELATED TO THIS AGREEMENT; PROVIDED, HOWEVER, THE LENDER MAY,
AT ITS OPTION, COMMENCE ANY ACTION, SUIT OR PROCEEDING IN ANY OTHER

                                       16
<PAGE>

APPROPRIATE FORUM OR JURISDICTION TO OBTAIN POSSESSION OF OR FORECLOSE UPON ANY
COLLATERAL, TO OBTAIN EQUITABLE RELIEF OR TO ENFORCE ANY JUDGMENT OR ORDER
OBTAINED BY THE LENDER AGAINST DEBTOR OR WITH RESPECT TO ANY COLLATERAL, TO
ENFORCE ANY OTHER RIGHT OR REMEDY UNDER THIS AGREEMENT OR TO OBTAIN ANY OTHER
RELIEF DEEMED APPROPRIATE BY THE LENDER. DEBTOR EXPRESSLY SUBMITS AND CONSENTS
IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH
COURT, AND DEBTOR HEREBY WAIVES ANY OBJECTION WHICH DEBTOR MAY HAVE BASED UPON
LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY
CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED
APPROPRIATE BY SUCH COURT. DEBTOR REPRESENTS AND WARRANTS THAT IT HAS REVIEWED
THIS CONSENT TO JURISDICTION PROVISION WITH ITS LEGAL COUNSEL, AND HAS MADE THIS
WAIVER KNOWINGLY AND VOLUNTARILY.

                      [END OF TEXT; SIGNATURE PAGE FOLLOWS]

                                       17
<PAGE>

                  IN WITNESS WHEREOF, this Agreement has been executed as of the
day and year first above written.

                                         MMAC COMMUNICATIONS CORP.

                                         By: /s/ LAURIE L. LATHAM
                                             ----------------------------------
                                          Name:  Laurie L. Latham
                                          Title: Chief Financial Officer

                                       18
<PAGE>

                                   SCHEDULE A
                              COLLATERAL LOCATIONS

                 900 Huyler Street, Teterboro, New Jersey 07608

                                       19
<PAGE>

                                SCHEDULE 3.1 (a)
                               INVENTORY LOCATIONS

                 900 Huyler Street, Teterboro, New Jersey 07608

                                       20
<PAGE>

                                 SCHEDULE 3.3(a)
                               EQUIPMENT LOCATIONS

                 900 Huyler Street, Teterboro, New Jersey 07608

                    See List of Additional Locations Attached

                                       21

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