Document:

<PAGE>
                                                                    Exhibit 4.2

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 4% Subordinated Convertible Debenture

                              Due October 26, 2002

No.0001                                                              $ 15,000.00

         This Debenture is issued by Celerity Systems, Inc., (The "Company") to
John Bridges (the "Debenture holder") pursuant to exemptions from registration
under the U.S. Securities Act of 1933.

                                    ARTICLE I

         1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby
confers the right upon Debenture holder to convert the sum of Fifteen Thousand
dollars ($ 15,000.00) into the common stock of the Company (the "Common Stock")
on or before October 26, 2002 ("Maturity Date") as set forth herein, and upon
the Maturity Date to pay interest thereon from the date of issue at the rate of
four percent (4%) per annum. The Company shall pay such interest on the
outstanding principal amount of the Debenture from the date of issue until the
Maturity Date or conversion; the Company shall pay interest only upon the
outstanding balance of the Debenture at the rate of four percent (4%) per annum.
Interest will be computed based on a 365 day year.

         1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized, but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Seventy Five cents (.75 )
per share.

         The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or stock at the Company's option.

         Furthermore, the Company has on deposit at the May Davis Group free
trading shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares

<PAGE>

to the Debenture holder as necessary on an appropriate basis to honor
Conversions.

         Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions.

         1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five (135%)
percent of the Principal plus accrued interest.

         1.04 INTEREST PAYMENTS. The interest so payable will be paid at the
time of Conversion to the person in whose name this Debenture is registered. At
the time such interest is payable, the Company, in its sole discretion, may
elect to pay interest in cash (via wire transfer or certified funds) or in the
form of Common Stock. If paid in the form of Common Stock, the amount of stock
to be issued will be calculated as follows: the value of the stock shall be the
Bid Price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar,
or Company-registrar without notice. The Company may act in any such capacity.

         1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

         (a) upon the maturity of any Company Debt, or any installment thereof
then due by lapse of time, acceleration or otherwise, all Company Debt then due
shall first be paid in full (or provision made for payment in full thereof)
before any additional payment on account of principal or interest is made on
this Debenture; and

         (b) in the event of any insolvency or bankruptcy proceedings affecting
the Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Company, whether
or not involving insolvency or bankruptcy, then the holders of Company Debt
shall be entitled to receive payment in full of all principal of and interest on
all Company Debt before the holder of this Debenture is entitled to receive any
payment on account of principal, interest or premium on this Debenture.

         The provisions of the preceding paragraphs are solely for the purpose
of defining the relative rights of the holders of Company Debt on the one hand
and the holder of this Debenture on the other hand and nothing herein shall
impair, as between the Company and the holder of this Debenture, the obligation
of the Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

<PAGE>

         For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

         2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended
with the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

         3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows:
failure by the Company to pay amounts due hereunder within two (2) days of the
Maturity Date failure by the Company to advise its transfer agent to issue
Common Stock to the Debenture holder within two (2) business days of the
Company's receipt of the Notice of Conversion from Debenture holder; or failure
by the Company for thirty (30) days after notice to it to comply with any of its
other agreements in the Debenture; and events of bankruptcy or insolvency. The
Debenture holder may not enforce the Debenture except as provided herein.

         3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

         3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders,
as such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. The Debenture holder, by accepting
a Debenture waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Debenture.

                                   ARTICLE IV

         4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in
part, may be converted at any time beginning ninety (90) days following the date
of closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Seventy Five cents (.75) per share.

         In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

<PAGE>

         4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to
convert a part of the Debenture, then the Company shall reissue a new Debenture
in the same form as this Debenture to reflect the new principal amount.

         4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on October 26, 2002 and shall be automatically converted on that
date in accordance with the formula set forth in Section 4.01 hereof, and the
appropriate shares of common stock and amount of interest shall be issued to the
Debenture holder.

         4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

         5.01 NOTICE. Notices regarding this Debenture shall be sent to the
parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

            If to the Company:          CELERITY SYSTEMS, INC.
                                        1400 Centerpoint Blvd.
                                        Knoxville, Tennessee 37932.
                                        Attention: President

            If to Debenture holder:     JOHN BRIDGES
                                        501 Scott Street
                                        Dainbridge, GA 31717

         5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law, any
objection, including

<PAGE>

any objection based on FORUM NON CONVENIENS to the bringing of any such
proceeding in such jurisdictions.

         5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

         5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the
entire agreement between the parties hereto with respect to the subject matter
hereof and there are no representations, warranties or commitments, except as
set forth herein. This Debenture may be amended only by an instrument in writing
executed by the parties hereto.

         5.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute on instrument.

         5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor
or the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

         IN WITNESS WHEREOF, with the intent to be legally bound hereby, the
parties hereto have executed this Debenture as of October 26, 1999.

ATTEST:

 ----------------------------------

                                               CELERITY SYSTEMS, INC.

                                               /s/ Kenneth Van Meter
                                               --------------------------------

                                               Kenneth Van Meter

                                               Title: President/CEO

                                               JOHN BRIDGES

                                               /s/ John Bridges
                                               --------------------------------

                                               Debenture Holder

<PAGE>

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 4% Subordinated Convertible Debenture

                              Due October 28, 2002

No.0002
                                                                     $ 15,000.00

         This Debenture is issued by Celerity Systems, Inc., (The "Company") to
John P. Faure (the "Debenture holder") pursuant to exemptions from registration
under the U.S. Securities Act of 1933.

                                    ARTICLE I

         1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby
confers the right upon Debenture holder to convert the sum of Fifteen Thousand
dollars ($ 15,000.00) into the common stock of the Company (the "Common Stock")
on or before October 28, 2002("Maturity Date") as set forth herein, and upon the
Maturity Date to pay interest thereon from the date of issue at the rate of four
percent (4%) per annum. The Company shall pay such interest on the outstanding
principal amount of the Debenture from the date of issue until the Maturity Date
or conversion; the Company shall pay interest only upon the outstanding balance
of the Debenture at the rate of four percent (4%) per annum. Interest will be
computed based on a 365 day year.

         1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Seventy Five cents (.75 )
per share.

         The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or stock at the Company's option.

         Furthermore, the Company has on deposit at the May Davis Group free
trading shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.

<PAGE>

         Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions.

         1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five (135%)
percent of the Principal plus accrued interest.

         1.04 INTEREST PAYMENTS. The interest so payable will be paid at the
time of Conversion to the person in whose name this Debenture is registered. At
the time such interest is payable, the Company, in its sole discretion, may
elect to pay interest in cash (via wire transfer or certified funds) or in the
form of Common Stock. If paid in the form of Common Stock, the amount of stock
to be issued will be calculated as follows: the value of the stock shall be the
Bid Price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar,
or Company-registrar without notice. The Company may act in any such capacity.

         1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

         (a) upon the maturity of any Company Debt, or any installment thereof
then due by lapse of time, acceleration or otherwise, all Company Debt then due
shall first be paid in full (or provision made for payment in full thereof)
before any additional payment on account of principal or interest is made on
this Debenture; and

         (b) in the event of any insolvency or bankruptcy proceedings affecting
the Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Company, whether
or not involving insolvency or bankruptcy, then the holders of Company Debt
shall be entitled to receive payment in full of all principal of and interest on
all Company Debt before the holder of this Debenture is entitled to receive any
payment on account of principal, interest or premium on this Debenture.

         The provisions of the preceding paragraphs are solely for the purpose
of defining the relative rights of the holders of Company Debt on the one hand
and the holder of this Debenture on the other hand and nothing herein shall
impair, as between the Company and the holder of this Debenture, the obligation
of the Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

<PAGE>

         For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

         2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended
with the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

         3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows:
failure by the Company to pay amounts due hereunder within two (2) days of the
Maturity Date failure by the Company to advise its transfer agent to issue
Common Stock to the Debenture holder within two (2) business days of the
Company's receipt of the Notice of Conversion from Debenture holder; or failure
by the Company for thirty (30) days after notice to it to comply with any of its
other agreements in the Debenture; and events of bankruptcy or insolvency. The
Debenture holder may not enforce the Debenture except as provided herein.

         3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

         3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders,
as such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. The Debenture holder, by accepting
a Debenture waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Debenture.

                                   ARTICLE IV

         4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in
part, may be converted at any time beginning ninety (90) days following the date
of closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Seventy Five cents (.75) per share.

         In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

         4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to
convert a part of the Debenture,

<PAGE>

then the Company shall reissue a new Debenture in the same form as this
Debenture to reflect the new principal amount.

         4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on October 28, 2002 and shall be automatically converted on that
date in accordance with the formula set forth in Section 4.01 hereof, and the
appropriate shares of common stock and amount of interest shall be issued to the
Debenture holder.

         4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

         5.01 NOTICE. Notices regarding this Debenture shall be sent to the
parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

            If to the Company:           CELERITY SYSTEMS, INC.
                                         1400 Centerpoint Blvd.
                                         Knoxville, Tennessee 37932.
                                         Attention: President

            If to Debenture holder:      JOHN P. FAURE
                                         59 Blue Canyon Trail
                                         Santa Fe, NM 87504

         5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law any
objection, including

<PAGE>

any objection based on FORUM NON CONVENIENS to the bringing of any such
proceeding in such jurisdictions.

         5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

         5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the
entire agreement between the parties hereto with respect to the subject matter
hereof and there are no representations, warranties or commitments, except as
set forth herein. This Debenture may be amended only by an instrument in writing
executed by the parties hereto.

         5.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute on instrument.

         5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor
or the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

         IN WITNESS WHEREOF, with the intent to be legally bound hereby, the
parties hereto have executed this Debenture as of October 28, 1999.

ATTEST:

 ----------------------------------

                                         CELERITY SYSTEMS, INC.

                                         /s/ Kenneth Van Meter
                                         -----------------------------------

                                            Kenneth Van Meter

                                         Title: President/CEO

                                         JOHN P. FAURE

                                         /s/ John P. Faure
                                         -----------------------------------
                                         Debenture Holder

<PAGE>

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 4% Subordinated Convertible Debenture

                              Due October 29, 2002

No.0003                                                             $ 10,000.00

         This Debenture is issued by Celerity Systems, Inc., (The "Company") to
Loni Spurkeland (the "Debenture holder") pursuant to exemptions from
registration under the U.S. Securities Act of 1933.

                                    ARTICLE I

         1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby
confers the right upon Debenture holder to convert the sum of Ten Thousand
dollars ($ 10,000.00) into the common stock of the Company (the "Common Stock")
on or before October 29, 2002 ("Maturity Date") as set forth herein, and upon
the Maturity Date to pay interest thereon from the date of issue at the rate of
four percent (4%) per annum. The Company shall pay such interest on the
outstanding principal amount of the Debenture from the date of issue until the
Maturity Date or conversion; the Company shall pay interest only upon the
outstanding balance of the Debenture at the rate of four percent (4%) per annum.
Interest will be computed based on a 365 day year.

         1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized, but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Seventy Five cents (.75 )
per share.

         The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or stock at the Company's option.

         Furthermore, the Company has on deposit at the May Davis Group free
trading shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.

<PAGE>

         Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions.

         1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five
(135%) percent of the Principal plus accrued interest.

         1.04 INTEREST PAYMENTS. The interest so payable will be paid at the
time of Conversion to the person in whose name this Debenture is registered. At
the time such interest is payable, the Company, in its sole discretion, may
elect to pay interest in cash (via wire transfer or certified funds) or in the
form of Common Stock. If paid in the form of Common Stock, the amount of stock
to be issued will be calculated as follows: the value of the stock shall be the
Bid Price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar,
or Company-registrar without notice. The Company may act in any such capacity.

         1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

         (a) upon the maturity of any Company Debt, or any installment thereof
then due by lapse of time, acceleration or otherwise, all Company Debt then due
shall first be paid in full (or provision made for payment in full thereof)
before any additional payment on account of principal or interest is made on
this Debenture; and

         (b) in the event of any insolvency or bankruptcy proceedings affecting
the Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Company, whether
or not involving insolvency or bankruptcy, then the holders of Company Debt
shall be entitled to receive payment in full of all principal of and interest on
all Company Debt before the holder of this Debenture is entitled to receive any
payment on account of principal, interest or premium on this Debenture.

         The provisions of the preceding paragraphs are solely for the purpose
of defining the relative rights of the holders of Company Debt on the one hand
and the holder of this Debenture on the other hand and nothing herein shall
impair, as between the Company and the holder of this Debenture, the obligation
of the Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

<PAGE>

         For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

         2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended
with the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

         3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows:
failure by the Company to pay amounts due hereunder within two (2) days of the
Maturity Date failure by the Company to advise its transfer agent to issue
Common Stock to the Debenture holder within two (2) business days of the
Company's receipt of the Notice of Conversion from Debenture holder; or failure
by the Company for thirty (30) days after notice to it to comply with any of its
other agreements in the Debenture; and events of bankruptcy or insolvency. The
Debenture holder may not enforce the Debenture except as provided herein.

         3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

         3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders,
as such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. The Debenture holder, by accepting
a Debenture waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Debenture.

                                   ARTICLE IV

         4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in
part, may be converted at any time beginning ninety (90) days following the date
of closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Seventy Five cents (.75) per share.

         In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

         4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to
convert a part of the Debenture,

<PAGE>

then the Company shall reissue a new Debenture in the same form as this
Debenture to reflect the new principal amount.

         4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on October 29, 2002 and shall be automatically converted on that
date in accordance with the formula set forth in Section 4.01 hereof, and the
appropriate shares of common stock and amount of interest shall be issued to the
Debenture holder.

         4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

         5.01 NOTICE. Notices regarding this Debenture shall be sent to the
parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

              If to the Company:            CELERITY SYSTEMS, INC.
                                            1400 Centerpoint Blvd.
                                            Knoxville, Tennessee 37932.
                                            Attention: President

              If to Debenture holder:       LONI SPURKELAND
                                            2080 Mummasburg Road
                                            Gettysburg, PA 17325

         5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law, any
objection, including any objection based on FORUM NON CONVENIENS to the bringing
of any such proceeding in such jurisdictions.

         5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

<PAGE>

         5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the
entire agreement between the parties hereto with respect to the subject matter
hereof and there are no representations, warranties or commitments, except as
set forth herein. This Debenture may be amended only by an instrument in writing
executed by the parties hereto.

         5.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute on instrument.

         5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor
or the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

         IN WITNESS WHEREOF, with the intent to be legally bound hereby, the
parties hereto have executed this Debenture as of October 29, 1999.

ATTEST:

 ---------------------

                                            CELERITY SYSTEMS, INC.

                                            /s/ Kenneth Van Meter
                                            -----------------------------

                                            Kenneth Van Meter

                                            Title: President/CEO

                                            LONI SPURKELAND

                                            /s/ Loni Spurkeland
                                            -----------------------------

                                            Debenture Holder

<PAGE>

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 4% Subordinated Convertible Debenture

                              Due November 1, 2002

No.0004                                                             $ 25,000.00

         This Debenture is issued by Celerity Systems, Inc., (The "Company") to
Robert E. Dettle (the "Debenture holder") pursuant to exemptions from
registration under the U.S. Securities Act of 1933.

                                    ARTICLE I

         1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby
confers the right upon Debenture holder to convert the sum of Twenty Five
Thousand dollars ($ 25,000.00) into the common stock of the Company (the "Common
Stock") on or before November 1, 2002 ("Maturity Date") as set forth herein, and
upon the Maturity Date to pay interest thereon from the date of issue at the
rate of four percent (4%) per annum. The Company shall pay such interest on the
outstanding principal amount of the Debenture from the date of issue until the
Maturity Date or conversion; the Company shall pay interest only upon the
outstanding balance of the Debenture at the rate of four percent (4%) per annum.
Interest will be computed based on a 365 day year.

         1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Seventy Five cents (.75 )
per share.

         The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or stock at the Company's option.

         Furthermore, the Company has on deposit at the May Davis Group free
trading shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.

<PAGE>

         Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions

         1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five (135%)
percent of the Principal plus accrued interest.

         1.04 INTEREST PAYMENTS. The interest so payable will be paid at the
time of Conversion to the person in whose name this Debenture is registered. At
the time such interest is payable, the Company, in its sole discretion, may
elect to pay interest in cash (via wire transfer or certified funds) or in the
form of Common Stock. If paid in the form of Common Stock, the amount of stock
to be issued will be calculated as follows: the value of the stock shall be the
Bid Price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar,
or Company-registrar without notice. The Company may act in any such capacity.

         1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

         (a) upon the maturity of any Company Debt, or any installment thereof
then due by lapse of time, acceleration or otherwise, all Company Debt then due
shall first be paid in full (or provision made for payment in full thereof)
before any additional payment on account of principal or interest is made on
this Debenture; and

         (b) in the event of any insolvency or bankruptcy proceedings affecting
the Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Company, whether
or not involving insolvency or bankruptcy, then the holders of Company Debt
shall be entitled to receive payment in full of all principal of and interest on
all Company Debt before the holder of this Debenture is entitled to receive any
payment on account of principal, interest or premium on this Debenture.

         The provisions of the preceding paragraphs are solely for the purpose
of defining the relative rights of the holders of Company Debt on the one hand
and the holder of this Debenture on the other hand and nothing herein shall
impair, as between the Company and the holder of this Debenture, the obligation
of the Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from

<PAGE>

exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

         For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

         2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended
with the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

         3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows:
failure by the Company to pay amounts due hereunder within two (2) days of the
Maturity Date failure by the Company to advise its transfer agent to issue
Common Stock to the Debenture holder within two (2) business days of the
Company's receipt of the Notice of Conversion from Debenture holder; or failure
by the Company for thirty (30) days after notice to it to comply with any of its
other agreements in the Debenture; and events of bankruptcy or insolvency. The
Debenture holder may not enforce the Debenture except as provided herein.

         3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

         3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders,
as such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. The Debenture holder, by accepting
a Debenture waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Debenture.

                                   ARTICLE IV

         4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in
part, may be converted at any time beginning ninety (90) days following the date
of closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Seventy Five cents (.75) per share.

         In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company

<PAGE>

will pay the balance in cash.

         4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to
convert a part of the Debenture, then the Company shall reissue a new Debenture
in the same form as this Debenture to reflect the new principal amount.

         4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on November 1, 2002 and shall be automatically converted on that
date in accordance with the formula set forth in Section 4.01 hereof, and the
appropriate shares of common stock and amount of interest shall be issued to the
Debenture holder.

         4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

         5.01 NOTICE. Notices regarding this Debenture shall be sent to the
parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

               If to the Company:              CELERITY SYSTEMS, INC.
                                               1400 Centerpoint Blvd.
                                               Knoxville, Tennessee 37932.
                                               Attention: President

               If to Debenture holder:         ROBERT E. DETTLE
                                               227 Segre Place
                                               Santa Cruz, CA 95060

         5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law, any
objections, including any objection based on FORUM NON CONVENIENS to the
bringing of any such proceeding in such jurisdictions.

<PAGE>

         5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

         5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the
entire agreement between the parties hereto with respect to the subject matter
hereof and there are no representations, warranties or commitments, except as
set forth herein. This Debenture may be amended only by an instrument in writing
executed by the parties hereto.

         5.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute on instrument.

         5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor
or the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

         IN WITNESS WHEREOF, with the intent to be legally bound hereby, the
parties hereto have executed this Debenture as of November 1, 1999.

ATTEST:

 ----------------------

                                       CELERITY SYSTEMS, INC.

                                       /s/ Kenneth Van Meter
                                       -------------------------------

                                       Kenneth Van Meter

                                       Title: President/CEO

                                       ROBERT E. DETTLE

                                       /s/ Robert E. Dettle
                                       -------------------------------

                                       Debenture Holder

<PAGE>

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 4% Subordinated Convertible Debenture

                              Due November 1, 2002

No.0006                                                             $ 20,000.00

         This Debenture is issued by Celerity Systems, Inc., (The "Company") to
Lennart Dallgren (the "Debenture holder") pursuant to exemptions from
registration under the U.S. Securities Act of 1933.

                                    ARTICLE I

         1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby
confers the right upon Debenture holder to convert the sum of Twenty Thousand
dollars ($ 20,000.00) into the common stock of the Company (the "Common Stock")
on or before November 1, 2002 ("Maturity Date") as set forth herein, and upon
the Maturity Date to pay interest thereon from the date of issue at the rate of
four percent (4%) per annum. The Company shall pay such interest on the
outstanding principal amount of the Debenture from the date of issue until the
Maturity Date or conversion; the Company shall pay interest only upon the
outstanding balance of the Debenture at the rate of four percent (4%) per annum.
Interest will be computed based on a 365 day year.

         1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized, but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Seventy Five cents (.75 )
per share.

         The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or stock at the Company's option.

         Furthermore, the Company has on deposit at the May Davis Group free
trading shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.

<PAGE>

         Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions.

         1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five (135
%) percent of the Principal plus accrued interest.

         1.04 INTEREST PAYMENTS. The interest so payable will be paid at the
time of Conversion to the person in whose name this Debenture is registered. At
the time such interest is payable, the Company, in its sole discretion, may
elect to pay interest in cash (via wire transfer or certified funds) or in the
form of Common Stock. If paid in the form of Common Stock, the amount of stock
to be issued will be calculated as follows: the value of the stock shall be the
Bid Price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar,
or Company-registrar without notice. The Company may act in any such capacity.

         1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

         (a) upon the maturity of any Company Debt, or any installment thereof
then due by lapse of time, acceleration or otherwise, all Company Debt then due
shall first be paid in full (or provision made for payment in full thereof)
before any additional payment on account of principal or interest is made on
this Debenture; and

         (b) in the event of any insolvency or bankruptcy proceedings affecting
the Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Company, whether
or not involving insolvency or bankruptcy, then the holders of Company Debt
shall be entitled to receive payment in full of all principal of and interest on
all Company Debt before the holder of this Debenture is entitled to receive any
payment on account of principal, interest or premium on this Debenture.

         The provisions of the preceding paragraphs are solely for the purpose
of defining the relative rights of the holders of Company Debt on the one hand
and the holder of this Debenture on the other hand and nothing herein shall
impair, as between the Company and the holder of this Debenture, the obligation
of the Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

<PAGE>

         For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

         2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended
with the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

         3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows:
failure by the Company to pay amounts due hereunder within two (2) days of the
Maturity Date failure by the Company to advise its transfer agent to issue
Common Stock to the Debenture holder within two (2) business days of the
Company's receipt of the Notice of Conversion from Debenture holder; or failure
by the Company for thirty (30) days after notice to it to comply with any of its
other agreements in the Debenture; and events of bankruptcy or insolvency. The
Debenture holder may not enforce the Debenture except as provided herein.

         3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

         3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders,
as such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. The Debenture holder, by accepting
a Debenture waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Debenture.

                                   ARTICLE IV

         4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in
part, may be converted at any time beginning ninety (90) days following the date
of closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Seventy Five cents (.75) per share.

         In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

         4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to
convert a part of the Debenture,

<PAGE>

then the Company shall reissue a new Debenture in the same form as this
Debenture to reflect the new principal amount.

         4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on November 1, 2002 and shall be automatically converted on that
date in accordance with the formula set forth in Section 4.01 hereof, and the
appropriate shares of common stock and amount of interest shall be issued to the
Debenture holder.

         4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

         5.01 NOTICE. Notices regarding this Debenture shall be sent to the
parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

              If to the Company:             CELERITY SYSTEMS, INC.
                                             1400 Centerpoint Blvd.
                                             Knoxville, Tennessee 37932.
                                             Attention: President

              If to Debenture holder:        LENNART DALLGREN
                                             1810 Venice Park Drive, Apt #212
                                             North Miami, FL 33181

         5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law, any
objection, including any objection based on FORUM NON CONVENIENS to the bringing
of any such proceeding in such jurisdictions.

         5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

<PAGE>

         5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the
entire agreement between the parties hereto with respect to the subject matter
hereof and there are no representations, warranties or commitments, except as
set forth herein. This Debenture may be amended only by an instrument in writing
executed by the parties hereto.

         5.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute on instrument.

         5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor
or the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

         IN WITNESS WHEREOF, with the intent to be legally bound hereby, the
parties hereto have executed this Debenture as of November 1, 1999.

ATTEST:

 -------------------------

                                          CELERITY SYSTEMS, INC.

                                          /s/ Kenneth Van Meter
                                          --------------------------------

                                          Kenneth Van Meter

                                          Title: President/CEO

                                          LENNART DALLGREN

                                          /s/ Lennart Dallgren
                                          --------------------------------

                                          Debenture Holder

<PAGE>

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 4% Subordinated Convertible Debenture

                              Due November 8, 2002

No.0007                                                             $ 15,000.00

         This Debenture is issued by Celerity Systems, Inc., (The "Company") to
John P. Faure (the "Debenture holder") pursuant to exemptions from registration
under the U.S. Securities Act of 1933.

                                    ARTICLE I

         1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby
confers the right upon Debenture holder to convert the sum of Fifteen Thousand
dollars ($ 15,000.00) into the common stock of the Company (the "Common Stock")
on or before November 8, 2002 ("Maturity Date") as set forth herein, and upon
the Maturity Date to pay interest thereon from the date of issue at the rate of
four percent (4%) per annum. The Company shall pay such interest on the
outstanding principal amount of the Debenture from the date of issue until the
Maturity Date or conversion; the Company shall pay interest only upon the
outstanding balance of the Debenture at the rate of four percent (4%) per annum.
Interest will be computed based on a 365 day year.

         1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Seventy Five cents (.75 )
per share.

         The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or stock at the Company's option.

         Furthermore, the Company has on deposit at the May Davis Group free
trading shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.

<PAGE>

         Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions.

         1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five (135%)
percent of the Principal plus accrued interest.

         1.04 INTEREST PAYMENTS. The interest so payable will be paid at the
time of Conversion to the person in whose name this Debenture is registered. At
the time such interest is payable, the Company, in its sole discretion, may
elect to pay interest in cash (via wire transfer or certified funds) or in the
form of Common Stock. If paid in the form of Common Stock, the amount of stock
to be issued will be calculated as follows: the value of the stock shall be the
Bid Price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar,
or Company-registrar without notice. The Company may act in any such capacity.

         1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

         (a) upon the maturity of any Company Debt, or any installment thereof
then due by lapse of time, acceleration or otherwise, all Company Debt then due
shall first be paid in full (or provision made for payment in full thereof)
before any additional payment on account of principal or interest is made on
this Debenture; and

         (b) in the event of any insolvency or bankruptcy proceedings affecting
the Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Company, whether
or not involving insolvency or bankruptcy, then the holders of Company Debt
shall be entitled to receive payment in full of all principal of and interest on
all Company Debt before the holder of this Debenture is entitled to receive any
payment on account of principal, interest or premium on this Debenture.

         The provisions of the preceding paragraphs are solely for the purpose
of defining the relative rights of the holders of Company Debt on the one hand
and the holder of this Debenture on the other hand and nothing herein shall
impair, as between the Company and the holder of this Debenture, the obligation
of the Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

<PAGE>

         For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

         2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended
with the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

         3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows:
failure by the Company to pay amounts due hereunder within two (2) days of the
Maturity Date failure by the Company to advise its transfer agent to issue
Common Stock to the Debenture holder within two (2) business days of the
Company's receipt of the Notice of Conversion from Debenture holder; or failure
by the Company for thirty (30) days after notice to it to comply with any of its
other agreements in the Debenture; and events of bankruptcy or insolvency. The
Debenture holder may not enforce the Debenture except as provided herein.

         3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

         3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders,
as such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. The Debenture holder, by accepting
a Debenture waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Debenture.

                                   ARTICLE IV

         4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in
part, may be converted at any time beginning ninety (90) days following the date
of closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Seventy Five cents (.75) per share.

         In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

         4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to
convert a part of the Debenture,

<PAGE>

then the Company shall reissue a new Debenture in the same form as this
Debenture to reflect the new principal amount.

         4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on November 8, 2002 and shall be automatically converted on that
date in accordance with the formula set forth in Section 4.01 hereof, and the
appropriate shares of common stock and amount of interest shall be issued to the
Debenture holder.

         4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

         5.01 NOTICE. Notices regarding this Debenture shall be sent to the
parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

               If to the Company:          CELERITY SYSTEMS, INC.
                                           1400 Centerpoint Blvd.
                                           Knoxville, Tennessee 37932.
                                           Attention: President

               If to Debenture holder:     JOHN P. FAURE
                                           59 Blue Canyon Trail
                                           Santa Fe, NM 87504

         5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law any
objection, including any objection based on FORUM NON CONVENIENS to the bringing
of any such proceeding in

<PAGE>

such jurisdictions.

         5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

         5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the
entire agreement between the parties hereto with respect to the subject matter
hereof and there are no representations, warranties or commitments, except as
set forth herein. This Debenture may be amended only by an instrument in writing
executed by the parties hereto.

         5.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute on instrument.

         5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor
or the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

         IN WITNESS WHEREOF, with the intent to be legally bound hereby, the
parties hereto have executed this Debenture as of November 8, 1999.

ATTEST:

 -----------------------

                                        CELERITY SYSTEMS, INC.

                                        /s/ Kenneth Van Meter
                                        -----------------------------------

                                        Kenneth Van Meter

                                        Title: President/CEO

                                        JOHN P. FAURE

                                        /s/ John P. Faure
                                        -----------------------------------
                                        Debenture Holder

<PAGE>

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 4% Subordinated Convertible Debenture

                              Due November 5, 2002

No.0005                                                              $ 10,000.00

         This Debenture is issued by Celerity Systems, Inc., (The "Company") to
Michael Genta (the "Debenture holder") pursuant to exemptions from registration
under the U.S. Securities Act of 1933.

                                    ARTICLE I

         1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby
confers the right upon Debenture holder to convert the sum of Ten Thousand
dollars ($ 10,000.00) into the common stock of the Company (the "Common Stock")
on or before November 5, 2002 ("Maturity Date") as set forth herein, and upon
the Maturity Date to pay interest thereon from the date of issue at the rate of
four percent (4%) per annum. The Company shall pay such interest on the
outstanding principal amount of the Debenture from the date of issue until the
Maturity Date or conversion; the Company shall pay interest only upon the
outstanding balance of the Debenture at the rate of four percent (4%) per annum.
Interest will be computed based on a 365 day year.

         1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized, but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Seventy Five cents (.75 )
per share.

         The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or stock at the Company's option.

         Furthermore, the Company has on deposit at the May Davis Group free
trading shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.

         Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90)
<PAGE>

days the Company and Glenn West authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.

         1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five (135
%) percent of the Principal plus accrued interest.

         1.04 INTEREST PAYMENTS. The interest so payable will be paid at the
time of Conversion to the person in whose name this Debenture is registered. At
the time such interest is payable, the Company, in its sole discretion, may
elect to pay interest in cash (via wire transfer or certified funds) or in the
form of Common Stock. If paid in the form of Common Stock, the amount of stock
to be issued will be calculated as follows: the value of the stock shall be the
Bid Price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar,
or Company-registrar without notice. The Company may act in any such capacity.

         1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

         (a) upon the maturity of any Company Debt, or any installment thereof
then due by lapse of time, acceleration or otherwise, all Company Debt then due
shall first be paid in full (or provision made for payment in full thereof)
before any additional payment on account of principal or interest is made on
this Debenture; and

         (b) in the event of any insolvency or bankruptcy proceedings affecting
the Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Company, whether
or not involving insolvency or bankruptcy, then the holders of Company Debt
shall be entitled to receive payment in full of all principal of and interest on
all Company Debt before the holder of this Debenture is entitled to receive any
payment on account of principal, interest or premium on this Debenture.

         The provisions of the preceding paragraphs are solely for the purpose
of defining the relative rights of the holders of Company Debt on the one hand
and the holder of this Debenture on the other hand and nothing herein shall
impair, as between the Company and the holder of this Debenture, the obligation
of the Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

         For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer,
<PAGE>

director or other person who has beneficial ownership of ten percent (10%) or
more of the Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

         2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended
with the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

         3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows:
failure by the Company to pay amounts due hereunder within two (2) days of the
Maturity Date failure by the Company to advise its transfer agent to issue
Common Stock to the Debenture holder within two (2) business days of the
Company's receipt of the Notice of Conversion from Debenture holder; or failure
by the Company for thirty (30) days after notice to it to comply with any of its
other agreements in the Debenture; and events of bankruptcy or insolvency. The
Debenture holder may not enforce the Debenture except as provided herein.

         3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

         3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders,
as such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. The Debenture holder, by accepting
a Debenture waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Debenture.

                                   ARTICLE IV

         4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in
part, may be converted at any time beginning ninety (90) days following the date
of closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Seventy Five cents (.75) per share.

         In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

         4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to
convert a part of the Debenture, then the Company shall reissue a new Debenture
in the same form as this Debenture to reflect the new principal amount.
<PAGE>

         4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on November 5, 2002 and shall be automatically converted on that
date in accordance with the formula set forth in Section 4.01 hereof, and the
appropriate shares of common stock and amount of interest shall be issued to the
Debenture holder.

         4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

         5.01 NOTICE. Notices regarding this Debenture shall be sent to the
parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

                  If to the Company:        CELERITY SYSTEMS, INC.
                                            1400 Centerpoint Blvd.
                                            Knoxville, Tennessee 37932.
                                            Attention: President

                  If to Debenture holder:   MICHAEL GENTA
                                            24-19 23rd Street
                                            Astoria, NY  11102

         5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law, any
objection, including any objection based on FORUM NON conveniens to the bringing
of any such proceeding in such jurisdictions.

         5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

         5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the
entire agreement between the parties hereto with respect to the subject matter
hereof and there are no representations, warranties or commitments, except as
set forth herein. This Debenture may be amended only by an instrument in writing
executed by the parties hereto.
<PAGE>

         5.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute on instrument.

         5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor
or the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

         IN WITNESS WHEREOF, with the intent to be legally bound hereby, the
parties hereto have executed this Debenture as of October 29, 1999.

ATTEST:

________________________________

                                         CELERITY SYSTEMS, INC.

                                         /s/ Kenneth Van Meter
                                         -------------------------------------
                                         Kenneth Van Meter
                                         Title: President/CEO

                                         MICHAEL GENTA

                                         /s/ Michael Genta
                                         -------------------------------------
                                         Debenture Holder<PAGE>
                                                                    Exhibit 4.3

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 8% Subordinated Convertible Debenture

                              Due November 30, 2002

No.0008
                                                                     $100,000.00

         This Debenture is issued by Celerity Systems, Inc., (The "Company") to
Richard T. Garrett (the "Debenture holder") pursuant to exemptions from
registration under the U.S. Securities Act of 1933.

                                    ARTICLE I

         1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby
confers the right upon Debenture holder to convert the sum of One Hundred
Thousand dollars ($ 100,000.00) into the common stock of the Company (the
"Common Stock") on or before November 30, 2002 ("Maturity Date") as set forth
herein, and upon the Maturity Date to pay interest thereon from the date of
issue at the rate of eight percent (8%) per annum. The Company shall pay such
interest on the outstanding principal amount of the Debenture from the date of
issue until the Maturity Date or conversion; the Company shall pay interest only
upon the outstanding balance of the Debenture at the rate of eight percent (8%)
per annum. Interest will be computed based on a 365 day year.

         1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized, but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Fifty cents (.50 ) per
share.

         The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or stock at the Company's option.

         Furthermore, the Company has on deposit at the May Davis Group free
trading shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.

<PAGE>

         Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions.

         1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five (135
%) percent of the Principal plus accrued interest.

         1.04 INTEREST PAYMENTS. The interest so payable will be paid at the
time of Conversion to the person in whose name this Debenture is registered. At
the time such interest is payable, the Company, in its sole discretion, may
elect to pay interest in cash (via wire transfer or certified funds) or in the
form of Common Stock. If paid in the form of Common Stock, the amount of stock
to be issued will be calculated as follows: the value of the stock shall be the
Bid Price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar,
or Company-registrar without notice. The Company may act in any such capacity.

         1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

         (a) upon the maturity of any Company Debt, or any installment thereof
then due by lapse of time, acceleration or otherwise, all Company Debt then due
shall first be paid in full (or provision made for payment in full thereof)
before any additional payment on account of principal or interest is made on
this Debenture; and

         (b) in the event of any insolvency or bankruptcy proceedings affecting
the Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Company, whether
or not involving insolvency or bankruptcy, then the holders of Company Debt
shall be entitled to receive payment in full of all principal of and interest on
all Company Debt before the holder of this Debenture is entitled to receive any
payment on account of principal, interest or premium on this Debenture.

         The provisions of the preceding paragraphs are solely for the purpose
of defining the relative rights of the holders of Company Debt on the one hand
and the holder of this Debenture on the other hand and nothing herein shall
impair, as between the Company and the holder of this Debenture, the obligation
of the Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

<PAGE>

         For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

         2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended
with the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

         3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows:
failure by the Company to pay amounts due hereunder within two (2) days of the
Maturity Date failure by the Company to advise its transfer agent to issue
Common Stock to the Debenture holder within two (2) business days of the
Company's receipt of the Notice of Conversion from Debenture holder; or failure
by the Company for thirty (30) days after notice to it to comply with any of its
other agreements in the Debenture; and events of bankruptcy or insolvency. The
Debenture holder may not enforce the Debenture except as provided herein.

         3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

         3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders,
as such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. The Debenture holder, by accepting
a Debenture waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Debenture.

                                   ARTICLE IV

         4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in
part, may be converted at any time beginning ninety (90) days following the date
of closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Fifty cents (.50) per share.

         In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

<PAGE>

         4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to
convert a part of the Debenture, then the Company shall reissue a new Debenture
in the same form as this Debenture to reflect the new principal amount.

         4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on November 30, 2002 and shall be automatically converted on
that date in accordance with the formula set forth in Section 4.01 hereof, and
the appropriate shares of common stock and amount of interest shall be issued to
the Debenture holder.

         4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

         5.01 NOTICE. Notices regarding this Debenture shall be sent to the
parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

            If to the Company:          CELERITY SYSTEMS, INC.
                                        1400 Centerpoint Blvd.
                                        Knoxville, Tennessee 37932.
                                        Attention: President

            If to Debenture holder:     RICHARD T. GARRETT
                                        2030 W. 19th Street
                                        Cleveland, Ohio 44113

         5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law, any
objection, including any objection based on FORUM NON CONVENIENS to the bringing
of any such proceeding in such jurisdictions.

         5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

<PAGE>

         5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the
entire agreement between the parties hereto with respect to the subject matter
hereof and there are no representations, warranties or commitments, except as
set forth herein. This Debenture may be amended only by an instrument in writing
executed by the parties hereto.

         5.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute an instrument.

         5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor
or the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

         IN WITNESS WHEREOF, with the intent to be legally bound hereby, the
parties hereto have executed this Debenture as of November 30, 1999.

ATTEST:

 ----------------------------------

                                          CELERITY SYSTEMS, INC.

                                          /s/ Kenneth Van Meter
                                          -------------------------------------

                                          Kenneth Van Meter

                                          Title: President/CEO

                                          RICHARD T. GARRETT

                                          /s/ Richard T. Garrett
                                          -------------------------------------

                                          Debenture Holder

<PAGE>

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 8% Subordinated Convertible Debenture

                              Due November 30, 2002

No.0009
                                                                      $30,000.00

         This Debenture is issued by Celerity Systems, Inc., (The "Company") to
W. David McCoy (the "Debenture holder") pursuant to exemptions from registration
under the U.S. Securities Act of 1933.

                                    ARTICLE I

         1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby
confers the right upon Debenture holder to convert the sum of Thirty Thousand
dollars ($ 30,000.00) into the common stock of the Company (the "Common Stock")
on or before November 30, 2002 ("Maturity Date") as set forth herein, and upon
the Maturity Date to pay interest thereon from the date of issue at the rate of
eight percent (8%) per annum. The Company shall pay such interest on the
outstanding principal amount of the Debenture from the date of issue until the
Maturity Date or conversion; the Company shall pay interest only upon the
outstanding balance of the Debenture at the rate of eight percent (8%) per
annum. Interest will be computed based on a 365 day year.

         1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized, but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Fifty cents (.50 ) per
share.

         The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or stock at the Company's option.

         Furthermore, the Company has on deposit at the May Davis Group free
trading shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.

<PAGE>

         Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions.

         1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five (135
%) percent of the Principal plus accrued interest.

         1.04 INTEREST PAYMENTS. The interest so payable will be paid at the
time of Conversion to the person in whose name this Debenture is registered. At
the time such interest is payable, the Company, in its sole discretion, may
elect to pay interest in cash (via wire transfer or certified funds) or in the
form of Common Stock. If paid in the form of Common Stock, the amount of stock
to be issued will be calculated as follows: the value of the stock shall be the
Bid Price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar,
or Company-registrar without notice. The Company may act in any such capacity.

         1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

         (a) upon the maturity of any Company Debt, or any installment thereof
then due by lapse of time, acceleration or otherwise, all Company Debt then due
shall first be paid in full (or provision made for payment in full thereof)
before any additional payment on account of principal or interest is made on
this Debenture; and

         (b) in the event of any insolvency or bankruptcy proceedings affecting
the Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Company, whether
or not involving insolvency or bankruptcy, then the holders of Company Debt
shall be entitled to receive payment in full of all principal of and interest on
all Company Debt before the holder of this Debenture is entitled to receive any
payment on account of principal, interest or premium on this Debenture.

         The provisions of the preceding paragraphs are solely for the purpose
of defining the relative rights of the holders of Company Debt on the one hand
and the holder of this Debenture on the other hand and nothing herein shall
impair, as between the Company and the holder of this Debenture, the obligation
of the Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative

<PAGE>

rights of the holders of Company Debt expressed in the preceding paragraphs.

         For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

         2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended
with the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

         3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows:
failure by the Company to pay amounts due hereunder within two (2) days of the
Maturity Date failure by the Company to advise its transfer agent to issue
Common Stock to the Debenture holder within two (2) business days of the
Company's receipt of the Notice of Conversion from Debenture holder; or failure
by the Company for thirty (30) days after notice to it to comply with any of its
other agreements in the Debenture; and events of bankruptcy or insolvency. The
Debenture holder may not enforce the Debenture except as provided herein.

         3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

         3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders,
as such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. The Debenture holder, by accepting
a Debenture waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Debenture.

                                   ARTICLE IV

         4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in
part, may be converted at any time beginning ninety (90) days following the date
of closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Fifty cents (.50) per share.

         In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

<PAGE>

         4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to
convert a part of the Debenture, then the Company shall reissue a new Debenture
in the same form as this Debenture to reflect the new principal amount.

         4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on November 30, 2002 and shall be automatically converted on
that date in accordance with the formula set forth in Section 4.01 hereof, and
the appropriate shares of common stock and amount of interest shall be issued to
the Debenture holder.

         4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

         5.01 NOTICE. Notices regarding this Debenture shall be sent to the
parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

            If to the Company:           CELERITY SYSTEMS, INC.
                                         1400 Centerpoint Blvd.
                                         Knoxville, Tennessee 37932.
                                         Attention: President

            If to Debenture holder:      W. DAVID MCCOY
                                         1165 5th Avenue
                                         New York, NY  10029

         5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law, any
objection, including any objection based on FORUM NON CONVENIENS to the bringing
of any such proceeding in such jurisdictions.

         5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or

<PAGE>

otherwise affect any of the other provisions of this Debenture, which shall
remain in full force and effect.

         5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the
entire agreement between the parties hereto with respect to the subject matter
hereof and there are no representations, warranties or commitments, except as
set forth herein. This Debenture may be amended only by an instrument in writing
executed by the parties hereto.

         5.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute an instrument.

         5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor
or the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

         IN WITNESS WHEREOF, with the intent to be legally bound hereby, the
parties hereto have executed this Debenture as of November 30, 1999.

ATTEST:

 ----------------------------------

                                            CELERITY SYSTEMS, INC.

                                            /s/ KENNETH VAN METER
                                            ----------------------------------

                                            Kenneth Van Meter

                                            Title: President/CEO

                                            W. DAVID MCCOY

                                            /s/ W. DAVID MCCOY
                                            ----------------------------------

                                            Debenture Holder

<PAGE>

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 8% Subordinated Convertible Debenture

                              Due November 30, 2002

No.0010
                                                                      $15,000.00

This Debenture is issued by Celerity Systems, Inc., (The "Company") to Dominick
Chirarisi and Gilda R. Chirarisi (the "Debenture holder") pursuant to exemptions
from registration under the U.S. Securities Act of 1933.

                                    ARTICLE I

         1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby
confers the right upon Debenture holder to convert the sum of Fifteen Thousand
dollars ($ 15,000.00) into the common stock of the Company (the "Common Stock")
on or before November 30, 2002 ("Maturity Date") as set forth herein, and upon
the Maturity Date to pay interest thereon from the date of issue at the rate of
eight percent (8%) per annum. The Company shall pay such interest on the
outstanding principal amount of the Debenture from the date of issue until the
Maturity Date or conversion; the Company shall pay interest only upon the
outstanding balance of the Debenture at the rate of eight percent (8%) per
annum. Interest will be computed based on a 365 day year.

         1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized, but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Fifty cents (.50 ) per
share.

         The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or stock at the Company's option.

         Furthermore, the Company has on deposit at the May Davis Group free
trading shares in

<PAGE>

the name of Dr. Fenton Scruggs. In the event the Registration Statement is not
declared effective within a period of ninety (90) days the Company and Dr.
Fenton Scruggs authorize the May Davis Group to deliver these free trading
shares to the Debenture holder as necessary on an appropriate basis to honor
Conversions.

         Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions.

         1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five (135
%) percent of the Principal plus accrued interest.

         1.04 INTEREST PAYMENTS. The interest so payable will be paid at the
time of Conversion to the person in whose name this Debenture is registered. At
the time such interest is payable, the Company, in its sole discretion, may
elect to pay interest in cash (via wire transfer or certified funds) or in the
form of Common Stock. If paid in the form of Common Stock, the amount of stock
to be issued will be calculated as follows: the value of the stock shall be the
Bid Price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar,
or Company-registrar without notice. The Company may act in any such capacity.

         1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

         (a) upon the maturity of any Company Debt, or any installment thereof
then due by lapse of time, acceleration or otherwise, all Company Debt then due
shall first be paid in full (or provision made for payment in full thereof)
before any additional payment on account of principal or interest is made on
this Debenture; and

         (b) in the event of any insolvency or bankruptcy proceedings affecting
the Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Company, whether
or not involving insolvency or bankruptcy, then the holders of Company Debt
shall be entitled to receive payment in full of all principal of and interest on
all

<PAGE>

Company Debt before the holder of this Debenture is entitled to receive any
payment on account of principal, interest or premium on this Debenture.

         The provisions of the preceding paragraphs are solely for the purpose
of defining the relative rights of the holders of Company Debt on the one hand
and the holder of this Debenture on the other hand and nothing herein shall
impair, as between the Company and the holder of this Debenture, the obligation
of the Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

         For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

         2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended
with the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

         3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows:
failure by the Company to pay amounts due hereunder within two (2) days of the
Maturity Date failure by the Company to advise its transfer agent to issue
Common Stock to the Debenture holder within two (2) business days of the
Company's receipt of the Notice of Conversion from Debenture holder; or failure
by the Company for thirty (30) days after notice to it to comply with any of its
other agreements in the Debenture; and events of bankruptcy or insolvency. The
Debenture holder may not enforce the Debenture except as provided herein.

         3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

         3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders,
as such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. The Debenture holder, by accepting
a Debenture waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Debenture.

<PAGE>

                                   ARTICLE IV

         4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in
part, may be converted at any time beginning ninety (90) days following the date
of closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Fifty cents (.50) per share.

         In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

         4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to
convert a part of the Debenture, then the Company shall reissue a new Debenture
in the same form as this Debenture to reflect the new principal amount.

         4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on November 30, 2002 and shall be automatically converted on
that date in accordance with the formula set forth in Section 4.01 hereof, and
the appropriate shares of common stock and amount of interest shall be issued to
the Debenture holder.

         4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

         5.01 NOTICE. Notices regarding this Debenture shall be sent to the
parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

<PAGE>

          If to the Company:           CELERITY SYSTEMS, INC.
                                       1400 Centerpoint Blvd.
                                       Knoxville, Tennessee 37932.
                                       Attention: President

          If to Debenture holder:      DOMINICK CHIRARISI
                                       AND GILDA R. CHIRARISI
                                       2500 Johnson Avenue
                                       Apt # 12D
                                       Bronx, NY  10463

         5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law, any
objection, including any objection based on FORUM NON CONVENIENS to the bringing
of any such proceeding in such jurisdictions.

         5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

         5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the
entire agreement between the parties hereto with respect to the subject matter
hereof and there are no representations, warranties or commitments, except as
set forth herein. This Debenture may be amended only by an instrument in writing
executed by the parties hereto.

         5.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute an instrument.

         5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor
or the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

<PAGE>

IN WITNESS WHEREOF, with the intent to be legally bound hereby, the parties
hereto have executed this Debenture as of November 30, 1999.

ATTEST:

----------------------------------

                                            CELERITY SYSTEMS, INC.

                                            /s/ KENNETH VAN METER
                                            -----------------------------------

                                            Kenneth Van Meter
                                            Title: President/CEO

                                            DOMINICK CHIRARISI

                                            /s/ DOMINICK CHIRARISI
                                            -----------------------------------

                                            Debenture Holder

                                            GILDA R. CHIRARISI

                                            /s/ GILDA R. CHIRARISI
                                            -----------------------------------

                                            Debenture Holder

<PAGE>

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 8% Subordinated Convertible Debenture

                              Due November 30, 2002

No.0011                                                              $10,000.00

     This Debenture is issued by Celerity Systems, Inc., (The "Company") to
Joseph C. Cardella (the "Debenture holder") pursuant to exemptions from
registration under the U.S. Securities Act of 1933.

                                    ARTICLE I

     1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby confers
the right upon Debenture holder to convert the sum of Ten Thousand dollars
($10,000.00) into the common stock of the Company (the "Common Stock") on or
before November 30, 2002 ("Maturity Date") as set forth herein, and upon the
Maturity Date to pay interest thereon from the date of issue at the rate of
eight percent (8%) per annum. The Company shall pay such interest on the
outstanding principal amount of the Debenture from the date of issue until the
Maturity Date or conversion; the Company shall pay interest only upon the
outstanding balance of the Debenture at the rate of eight percent (8%) per
annum. Interest will be computed based on a 365 day year.

     1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized, but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Fifty cents (.50 ) per
share.

     The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or

<PAGE>

stock at the Company's option.

     Furthermore, the Company has on deposit at the May Davis Group free trading
shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.
     Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions.

     1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five
(135%) percent of the Principal plus accrued interest.

     1.04 INTEREST PAYMENTS. The interest so payable will be paid at the time of
Conversion to the person in whose name this Debenture is registered. At the time
such interest is payable, the Company, in its sole discretion, may elect to pay
interest in cash (via wire transfer or certified funds) or in the form of Common
Stock. If paid in the form of Common Stock, the amount of stock to be issued
will be calculated as follows: the value of the stock shall be the Bid Price on:
(i) the date the interest payment is due; or (ii) if the interest payment is not
made when due, the date the interest payment is made. A number of shares of
Common Stock with a value equal to the amount of interest due shall be issued.
No fractional shares will be issued; therefore, in the event that the value of
the Common Stock per share does not equal the total interest due, the Company
will pay the balance in cash.

     1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as Paying
Agent and Registrar. The Company may change any Paying Agent, Registrar, or
Company-registrar without notice. The Company may act in any such capacity.

     1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

     (a) upon the maturity of any Company Debt, or any installment thereof then
due by lapse of time, acceleration or otherwise, all Company Debt then due shall
first be paid in full (or provision made for payment in full thereof) before any
additional payment on account of principal or interest is made on this
Debenture; and

     (b) in the event of any insolvency or bankruptcy proceedings affecting the
Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other

<PAGE>

winding up of the Company, whether or not involving insolvency or bankruptcy,
then the holders of Company Debt shall be entitled to receive payment in full of
all principal of and interest on all Company Debt before the holder of this
Debenture is entitled to receive any payment on account of principal, interest
or premium on this Debenture.

     The provisions of the preceding paragraphs are solely for the purpose of
defining the relative rights of the holders of Company Debt on the one hand and
the holder of this Debenture on the other hand and nothing herein shall impair,
as between the Company and the holder of this Debenture, the obligation of the
Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

     For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

     2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended with
the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

     3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows: failure
by the Company to pay amounts due hereunder within two (2) days of the Maturity
Date failure by the Company to advise its transfer agent to issue Common Stock
to the Debenture holder within two (2) business days of the Company's receipt of
the Notice of Conversion from Debenture holder; or failure by the Company for
thirty (30) days after notice to it to comply with any of its other agreements
in the Debenture; and events of bankruptcy or insolvency. The Debenture holder
may not enforce the Debenture except as provided herein.

     3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

     3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders, as
such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or

<PAGE>

for any claim based on, in respect of, or by reason of such obligations or their
creation. The Debenture holder, by accepting a Debenture waives and releases all
such liability. The waiver and release are part of the consideration for the
issue of the Debenture.

                                   ARTICLE IV

     4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in part,
may be converted at any time beginning ninety (90) days following the date of
closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Fifty cents (.50) per share.

     In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

     4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to convert a
part of the Debenture, then the Company shall reissue a new Debenture in the
same form as this Debenture to reflect the new principal amount.

     4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on November 30, 2002 and shall be automatically converted on
that date in accordance with the formula set forth in Section 4.01 hereof, and
the appropriate shares of common stock and amount of interest shall be issued to
the Debenture holder.

     4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

     5.01 NOTICE. Notices regarding this Debenture shall be sent to the parties
at the following addresses, unless a party notifies the other parties, in
writing, of a change of address:

<PAGE>

           If to the Company:                 CELERITY SYSTEMS, INC.
                                              1400 Centerpoint Blvd.
                                              Knoxville, Tennessee 37932.
                                              Attention: President

           If to Debenture holder:           JOSEPH C. CARDELLA
                                             9303 Tecumseh-Clinton Road
                                             Tecumseh, MI 49286

     5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law, any
objection, including any objection based on FORUM NON CONVENIENS to the bringing
of any such proceeding in such jurisdictions.

     5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

     5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the entire
agreement between the parties hereto with respect to the subject matter hereof
and there are no representations, warranties or commitments, except as set forth
herein. This Debenture may be amended only by an instrument in writing executed
by the parties hereto.

     5.05 COUNTERPARTS. This Debenture may be executed in multiple counterparts,
each of which shall be an original, but all of which shall be deemed to
constitute an instrument.

     5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor or
the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

<PAGE>

     IN WITNESS WHEREOF, with the intent to be legally bound hereby, the parties
hereto have executed this Debenture as of November 30, 1999.

ATTEST:

  ---------------------

                                         CELERITY SYSTEMS, INC.

                                         /s/ Kenneth Van Meter
                                         ---------------------------------------

                                         Kenneth Van Meter
                                         Title: President/CEO

                                         JOSEPH C. CARDELLA

                                         /s/ Joseph C. Cardella
                                         ---------------------------------------

                                         Debenture Holder

<PAGE>

                                    DEBENTURE

                             CELERITY SYSTEMS, INC.

                   1999 8% Subordinated Convertible Debenture

                              Due November 30, 2002

No.0012                                                               $49,980.00

     This Debenture is issued by Celerity Systems, Inc., (The "Company") to Carl
Hoehner (the "Debenture holder") pursuant to exemptions from registration under
the U.S. Securities Act of 1933.

                                    ARTICLE I

     1.01 PRINCIPAL AND INTEREST. The Company, for value received hereby confers
the right upon Debenture holder to convert the sum of Forty Nine Thousand Nine
Hundred and Eighty dollars ($ 49,980.00) into the common stock of the Company
(the "Common Stock") on or before November 30, 2002 ("Maturity Date") as set
forth herein, and upon the Maturity Date to pay interest thereon from the date
of issue at the rate of eight percent (8%) per annum. The Company shall pay such
interest on the outstanding principal amount of the Debenture from the date of
issue until the Maturity Date or conversion; the Company shall pay interest only
upon the outstanding balance of the Debenture at the rate of eight percent (8%)
per annum. Interest will be computed based on a 365 day year.

     1.02 RESERVATION OF COMMON STOCK. The Company shall reserve and keep
available out of its authorized, but unissued shares of Common Stock, solely for
the purpose of effecting the conversion of this Debenture, such number of shares
of Common Stock as shall from time to time be sufficient to effect such
conversion, at the Debenture holders option, either, sixty five percent (65%) of
the Bid Price, (Bid Price shall mean on any date the closing bid price (as
reported by Bloomberg L.P.) of the Common Stock on the Principal Market, or if
the Common Stock is not traded on a Principal Market, the highest reported bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the five (5) trading days immediately preceding
such date of the Common Stock, or, at a fixed price of Fifty cents (.50 ) per
share.

     The Company shall use its best efforts to file a Registration Statement
within thirty (30) days form the Closing Date, furthermore, the Company shall
use its best efforts to assure that the Registration Statement is effective
within ninety (90) days of the Closing Date. In the event that the Registration
Statement is not effective within ninety (90) days the Company will pay damages
to the Debenture holder in the amount of two percent (2%) a month payable in
cash or

<PAGE>

stock at the Company's option.

     Furthermore, the Company has on deposit at the May Davis Group free trading
shares in the name of Dr. Fenton Scruggs. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Dr. Fenton Scruggs authorize the May Davis Group to deliver these
free trading shares to the Debenture holder as necessary on an appropriate basis
to honor Conversions.

     Additionally, the Company will deposit with the May Davis Group free
trading shares currently held by Glenn West. In the event the Registration
Statement is not declared effective within a period of ninety (90) days the
Company and Glenn West authorize the May Davis Group to deliver these free
trading shares to the Debenture holder as necessary on an appropriate basis to
honor Conversions.

     1.03 RIGHT OF REDEMPTION. The Company shall have the right to redeem in
part or in full any outstanding Debentures at one hundred and thirty five
(135%) percent of the Principal plus accrued interest.

     1.04 INTEREST PAYMENTS. The interest so payable will be paid at the time of
Conversion to the person in whose name this Debenture is registered. At the time
such interest is payable, the Company, in its sole discretion, may elect to pay
interest in cash (via wire transfer or certified funds) or in the form of Common
Stock. If paid in the form of Common Stock, the amount of stock to be issued
will be calculated as follows: the value of the stock shall be the Bid Price on:
(i) the date the interest payment is due; or (ii) if the interest payment is not
made when due, the date the interest payment is made. A number of shares of
Common Stock with a value equal to the amount of interest due shall be issued.
No fractional shares will be issued; therefore, in the event that the value of
the Common Stock per share does not equal the total interest due, the Company
will pay the balance in cash.

     1.05 PAYING AGENT AND REGISTRAR. Initially, the Company will act as Paying
Agent and Registrar. The Company may change any Paying Agent, Registrar, or
Company-registrar without notice. The Company may act in any such capacity.

     1.06 SUBORDINATED NATURE OF DEBENTURE. This Debenture and all payments
hereon, including principal or interest, shall be subordinate and junior in
right of payment to all Company Debt (as defined hereinafter), but only to the
extent set forth as follows:

     (a) upon the maturity of any Company Debt, or any installment thereof then
due by lapse of time, acceleration or otherwise, all Company Debt then due shall
first be paid in full (or provision made for payment in full thereof) before any
additional payment on account of principal or interest is made on this
Debenture; and

     (b) in the event of any insolvency or bankruptcy proceedings affecting the
Company, or any receivership, liquidation, reorganization or other similar
proceedings affecting the Company, and, in the event of any proceedings for
voluntary liquidation, dissolution or other

<PAGE>

winding up of the Company, whether or not involving insolvency or bankruptcy,
then the holders of Company Debt shall be entitled to receive payment in full of
all principal of and interest on all Company Debt before the holder of this
Debenture is entitled to receive any payment on account of principal, interest
or premium on this Debenture.

     The provisions of the preceding paragraphs are solely for the purpose of
defining the relative rights of the holders of Company Debt on the one hand and
the holder of this Debenture on the other hand and nothing herein shall impair,
as between the Company and the holder of this Debenture, the obligation of the
Company, which is unconditional and absolute, to pay the holder of this
Debenture the principal, interest and premiums hereon in accordance with its
terms, nor shall anything herein prevent the holder of this Debenture from
exercising all remedies otherwise permitted by law or hereunder upon default
hereunder, subject to the relative rights of the holders of Company Debt
expressed in the preceding paragraphs.

     For the purpose of this Notice, the term "Company Debt" shall mean and
include current bank debt and all indebtedness acquired by the Company
subsequent to the date hereof, other than indebtedness to any officer, director
or other person who has beneficial ownership of ten percent (10%) or more of the
Company's issued and outstanding shares of Common Stock.

                                   ARTICLE II

     2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may be amended with
the consent of the Debenture holder. Without the consent of the Debenture
holder, the Debenture may be amended to cure any ambiguity, defect or
inconsistency, to provide for assumption of the Company obligations to the
Debenture holder or to make any change that does not adversely affect the rights
of the Debenture holder.

                                   ARTICLE III

     3.01 EVENTS OF DEFAULT. An Event of Default is defined as follows: failure
by the Company to pay amounts due hereunder within two (2) days of the Maturity
Date failure by the Company to advise its transfer agent to issue Common Stock
to the Debenture holder within two (2) business days of the Company's receipt of
the Notice of Conversion from Debenture holder; or failure by the Company for
thirty (30) days after notice to it to comply with any of its other agreements
in the Debenture; and events of bankruptcy or insolvency. The Debenture holder
may not enforce the Debenture except as provided herein.

     3.02 SUCCESSOR CORPORATION. If a successor corporation assumes all the
obligations of this predecessor, Celerity Systems, Inc., the predecessor
corporation will be released from those obligations under the Debenture.

     3.03 WAIVER AND RELEASE. A director, officer, employee or stockholders, as
such, of the Company shall not have any liability for any obligations of the
Company under the Debenture or

<PAGE>

for any claim based on, in respect of, or by reason of such obligations or their
creation. The Debenture holder, by accepting a Debenture waives and releases all
such liability. The waiver and release are part of the consideration for the
issue of the Debenture.

                                   ARTICLE IV

     4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole or in part,
may be converted at any time beginning ninety (90) days following the date of
closing, into shares of Common Stock at a price equal to the following
Conversion: at the Debenture holders option, either, sixty five percent (65%) of
the average closing Bid Price for the five (5) trading days immediately
preceding conversion, or, Fifty cents (.50) per share.

     In lieu of any fractional share to which the Debenture holder would
otherwise be entitled, the Company will pay the balance in cash.

     4.02 REISSUANCE OF DEBENTURE. When the Debenture holder elects to convert a
part of the Debenture, then the Company shall reissue a new Debenture in the
same form as this Debenture to reflect the new principal amount.

     4.03 TERMINATION OF CONVERSION RIGHTS. The Debenture holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on November 30, 2002 and shall be automatically converted on
that date in accordance with the formula set forth in Section 4.01 hereof, and
the appropriate shares of common stock and amount of interest shall be issued to
the Debenture holder.

     4.04. Notwithstanding any other provision contained herein, the parties
agree that in no event shall the Company be required to issue (i) an aggregate
number of shares constituting more than 19.99% of the number of shares of Common
Stock outstanding on the date of such issuance or (ii) a number of shares that
would result in a change of control of the Company, unless the shareholders of
the Company approve such issuance of additional Common Shares or NASDAQ waives
the applicable requirements of Market Place Rule 4310(H)(i). The Company agrees
to use commercially reasonable efforts to obtain such approval or waiver on or
prior to the 90th day following the date that more than 19.99% of the Common
Stock would otherwise be issuable pursuant to outstanding Debentures or that an
issuance would otherwise result in a change of control by scheduling a
shareholders meeting as soon as practicable after such date.

                                    ARTICLE V

     5.01 NOTICE. Notices regarding this Debenture shall be sent to the parties
at the following addresses, unless a party notifies the other parties, in
writing, of a change of address:

<PAGE>

          If to the Company:                 CELERITY SYSTEMS, INC.
                                             1400 Centerpoint Blvd.
                                             Knoxville, Tennessee 37932.
                                             Attention: President

          If to Debenture holder:            CARL HOEHNER
                                             7052 Running Iron Lane
                                             Pocatello, Idaho 83204

     5.02 GOVERNING LAW. This Debenture shall be deemed to be made under and
shall be construed in accordance with the laws of the Commonwealth of Delaware
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
Southern District of the State of New York or the state courts of the State of
New York sitting in Manhattan in connection with any dispute arising under this
Debenture and hereby waives, to the maximum extent permitted by law, any
objection, including any objection based on FORUM NON CONVENIENS to the bringing
of any such proceeding in such jurisdictions.

     5.03 SEVERABILITY. The invalidity of any of the provisions of this
Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

     5.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents the entire
agreement between the parties hereto with respect to the subject matter hereof
and there are no representations, warranties or commitments, except as set forth
herein. This Debenture may be amended only by an instrument in writing executed
by the parties hereto.

     5.05 COUNTERPARTS. This Debenture may be executed in multiple counterparts,
each of which shall be an original, but all of which shall be deemed to
constitute an instrument.

     5.06 ASSIGNMENT. Neither this Debenture nor any rights of the Investor or
the Company hereunder may be assigned by either party to any other person.
Notwithstanding the foregoing, (a) the provisions of this Debenture shall insure
to the benefit of, and be enforceable by, any permitted transferee of any of the
Debentures purchased or acquired by the Investor hereunder with respect to the
Common Stock held by such person, and (b) upon the prior written consent of the
Company, which consent shall not unreasonably be withheld, the Investor's
interest in this Debenture may be assigned at any time, in whole or in part, to
any other person or entity (including any affiliate of the Investor).

<PAGE>

     IN WITNESS WHEREOF, with the intent to be legally bound hereby, the parties
hereto have executed this Debenture as of November 30, 1999.

ATTEST:

  ----------------------

                                         CELERITY SYSTEMS, INC.

                                         /s/ Kenneth Van Meter
                                         ---------------------------------------

                                         Kenneth Van Meter
                                         Title: President/CEO

                                         CARL HOEHNER

                                         /s/ Carl Hoehner
                                         ---------------------------------------

                                         Debenture Holder

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