Document:

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                                                                  EXHIBIT 10.14

                                [ISS Letterhead]

July 10, 2000

Mr. Lawrence Costanza
444 Shelbourne Drive
Wyckoff, New Jersey  07481

Dear Larry:

I am pleased to make this offer for you to join our team at Internet Security
Systems. As Vice-President, America's Operation, your total compensation
package will be $480,000 annually at plan. The annual compensation will consist
of a base salary of $300,000 annually ($12,500 paid bi-monthly salary) plus
performances compensation paid quarterly at plan in the amount of $30,000 per
quarter. The actual performance compensation paid will be a function of
strategic business unit objectives, operational performance objectives and
revenue objectives as defined in the attached performance compensation plan. In
addition, you will be eligible for a $60,000 annual bonus based upon ISS
performance and ISS achievement of its 2000 sales and performance objectives.
You will be granted an option to purchase 200,000 shares of ISS Common Stock,
contingent upon the approval by the ISS Board of Directors, at an exercise
price equal to the closing price of ISS common stock at the date of the grant
by the Board of Directors at or after your date of employment. These options
will have our standard four-year annual vesting schedule. In addition, you will
be granted an additional 75,000 shares of ISS common stock at the same time
which vests as of October 1, 2000. These options shall be subject to all of the
terms and conditions set forth in ISS' Amended and Restated 1995 Stock Option
Plan. ISS also agrees to provide you with an additional bonus in the amount of
$40,000 per quarter gross for the first five quarters of your employment,
payable based on completion of employment for that quarter.

Additionally, if ISS terminates your employment without cause, ISS will
accelerate the vesting of your 200,000 share option grant to the same extent as
if you had remained employed by ISS for one (1) year following the date of the
termination. Vesting will not accelerate if your resign from your employment
with ISS or if your employment with ISS is terminated for Cause. As used
herein, "Cause" means a termination based on (i) your conviction of a felony or
any other offense evidencing fraud or moral turpitude, (ii) your failure or
refusal to follow the lawful and proper directives of the Company which is not
corrected within seven (7) days after your receipt written notice identifying
such failure or refusal, (iii) your willful malfeasance or gross misconduct
which discredits or damages the Company, (iv) any breach of your obligations to
maintain the confidentiality of ISS' confidential and proprietary information
and trade secrets, or (v) your chronic absence from work.

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In the event that the Company is party to a corporate transaction or a change
of control, as those terms are defined in the ISS' Restated 1995 Stock
Incentive Plan, in the first two years of your employment with ISS, then the
standard acceleration of vesting of one year under Article Two, Section III of
the stock option plan will be modified as follows for your 200,000 share option
grant. If the conditions under Article Two, Section III are met in the first 12
months after a corporate transaction or change in control such that you would
be eligible for acceleration of options, then your acceleration will be the
next two annual installments of option shares. All other conditions for this
acceleration to occur, including termination of your employment subsequent to
the acquisition, will remain a condition for such acceleration. A copy of the
Restated 1995 stock Incentive Plan is provided for your reference.

Your job responsibilities shall be as outlined in the attached job position
responsibilities. ISS agrees to provide for your health benefits in a
accordance with the ISS' benefits programs in effect from time to time. ISS
will provide for three weeks of paid vacation/sick leave during your first year
of employment as defined in ISS' benefits program. In addition, you will be
eligible to participate in the ISS 401 K program, the ISS Employee Stock
Purchase Program (ESPP), and the ISS Flexible Benefits Program (FLEX).

As I explained to you, this offer of employment is conditional upon the
following:

1)       Your execution of the standard form ISS Confidential Information. Work
         Product and Nonsolicitation Agreement which obligates you to protect
         ISS proprietary and confidential information and in addition,
         obligates you to refrain from using any confidential information from
         previous employers.

2)       Your providing proof of personal identity and employability. In
         connection with this contingency, please complete the top portion of
         the enclosed I-9 form. Bring this I-9 form, and substantiating
         documents as outlined on the form to provide personal identity and
         employment eligibility, to my office of your first day of work.

3)       ISS satisfactory review of personal and professional references and
         satisfactory results of the ISS background investigation that will
         require your completion of an application and authorization form
         allowing such investigation. This process is, by our policy, a
         condition of employment by ISS. This process can be coordinated
         through our Director of Human Resources, Terri Jones.

ISS is an at-will employer, which means that employment with ISS is for no
specific period of time and either your or ISS are free to terminate your
employment relationship at any time for any reason, with or without cause. This
is the full and complete agreement between us on the terms of your employment
and supercedes any prior representations or agreements, whether oral or
written. Although your job duties, title, compensation and benefits, as well as
ISS personnel policies and procedures, may change form time-to-time, the
"at-will" nature of your employment may only be changed in a document signed by
you and the President or the Vice President of Finance and Administration of
the Company.

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Larry, we would like for you to join us July 11, 2000. I look forward to having
you join the ISS team, to setting up shop in New Jersey and to building a
dynamic, successful enterprise with you.

                                             Sincerely,

                                             /s/ Thomas E. Noonan

                                             Thomas E. Noonan
                                             Chairman and CEO

                                             /s/ Ken Walters

                                             Ken Walters
                                             President & General Manager
                                             Enterprise Solutions Business

Accepted:

/s/ Larry Costanza
---------------------------
Larry Costanza

8/18/00
---------------------------
Date<PAGE>   1
                                                                    EXHIBIT 10.1

                             CREDIT AND SECURITY AGREEMENT

         THIS CREDIT AND SECURITY AGREEMENT is being executed and entered into
as of the 11th day of April, 2000, by and among BOYD BROS. TRANSPORTATION, INC.,
a Delaware corporation, which conducts its business at Route 1, Box 40, Clayton,
Alabama 36016 ("BORROWER", whether one or more) and COMPASS BANK, an Alabama
state banking corporation, 223 E. Broad Street, Eufaula, Alabama 36027 ("BANK").

                                    PREAMBLE

         BORROWER has applied to BANK for, and BANK has agreed, upon the terms
and subject to the conditions herein set forth, to extend to BORROWER, a loan
in the amount of up to THREE MILLION TWO HUNDRED SIXTY-SEVEN THOUSAND ONE
HUNDRED SIXTY AND NO/100 DOLLARS ($3,267,160.00) (the "LOAN") the proceeds of
which are to be made available to Borrower for use between the date hereof and
April 11, 2001 (the "ADVANCE PERIOD") for BORROWER to finance the purchase of
tractors and flatbed trailers to be used in BORROWER'S trucking business
(collectively, the "TRUCK EQUIPMENT").

                                    AGREEMENT

         NOW, THEREFORE, in consideration of the premises, the mutual
obligations of the parties as contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties, intending to be legally bound hereby, agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

         Section 1.01 "BORROWER'S LOAN ACCOUNT" means the account on the books
of BANK in which will be recorded loans and advances made by BANK to

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BORROWER pursuant to this Agreement, payments made on such loans and other
appropriate debits and credits as provided by this Agreement.

         Section 1.02 "COLLATERAL" means any and all property of BORROWER in
which BANK now has, by this Agreement, or by any other Loan Document acquires,
or hereafter acquires, a security interest.

         Section 1.03 "EQUIPMENT" means all tangible personal property
including, without limitation, machinery, furniture and furnishings now owned or
hereafter acquired for use primarily in the business of BORROWER.

         Section 1.04 "INDEBTEDNESS" means all indebtedness, liabilities and
obligations, matured or unmatured, liquidated or unliquidated, direct or
indirect, primary, secondary, absolute or contingent, and whether arising by
contract, operation of law or otherwise, including without limitation,
obligations to creditors (including without limitation BANK), for borrowed money
or the deferred purchase price of property or services, and all obligations
under real property leases and under leases of personal property.

         Section 1.05 "INSOLVENCY" of BORROWER or any other person means that
there shall have occurred with respect to that person one or more of the
following events: dissolution, termination of existence, insolvency, business
failure, appointment of a receiver of any part of the property of, assignment
for the benefit of creditors by, or the filing of a petition in bankruptcy or
the commencement of any proceedings under any bankruptcy or insolvency laws, or
any laws relating to the relief of debtors, readjustment of indebtedness,
reorganization, composition or extension, by or against such person, or if any
action shall be taken for the purpose of effecting any of the foregoing.

         Section 1.06 "LIABILITIES" means any and all liabilities of BORROWER
to BANK of every kind and description, direct or indirect, absolute or
contingent, due or to become due, now existing or hereafter arising, regardless
of how they arise or by what agreement or instrument they may be evidenced or
whether evidenced by any

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agreement or instrument. "Liabilities" includes obligations to perform acts and
refrain from taking action as well as obligations to pay money.

         Section 1.07 "LOAN DOCUMENTS" means this Agreement, the Note (as
defined in Section 2.04 hereof), the Security Agreement from BORROWER to BANK
dated as of the date hereof, and all other documents and instruments evidencing,
securing, guaranteeing, relating to, or executed or delivered in connection with
the Loan.

         Section 1.08 UNDEFINED TERMS. Except as otherwise defined in this
Agreement, whether in this Article 1, or in a parenthetical or other reference
in this Agreement, accounting terms used herein shall have the meanings given to
them under generally accepted accounting principles, and terms defined in the
Alabama Uniform Commercial Code, as the same may be amended from time to time,
shall have the meanings given them in the Code.

                                   ARTICLE II

                                    THE LOAN

          Section 2.01 LOAN. Subject to the terms and conditions hereof, during
the Advance Period provided that BANK has not demanded payment in full under the
Note and BORROWER shall not be in default hereunder or with respect to any other
Liability to BANK, the BANK will make advances under the Loan to BORROWER, or
directly to BORROWER'S suppliers, up to a maximum aggregate principal amount of
$3,267,160 to pay for BORROWER'S purchase of the Truck Equipment to be used as
Equipment in BORROWER'S business ("ADVANCES"). BANK may, but shall not have any
obligation to, make any Advances hereunder at any time after or during which an
Event of Default (as defined herein) shall have occurred or exists.

          Section 2.02 BORROWER'S LOAN ACCOUNT. All such Advances shall be
entered as debits in the BORROWER'S Loan Account. BANK may, if it so elects,
require each request for any Advance pursuant to this Agreement to be
accompanied by certification of the number, identity and continued use of Truck
Equipment

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purchased with the proceeds of the Loan, in form and substance satisfactory to
BANK. BANK shall also record in the BORROWER'S Loan Account, in accordance with
customary accounting practice, all other charges, expenses and other items
properly chargeable to BORROWER; all payments made by BORROWER on account of
Indebtedness evidenced by BORROWER'S Loan Account; and other appropriate debits
and credits. The debit balance of BORROWER'S Loan Account shall reflect the
amount of BORROWER'S Indebtedness to BANK from time to time by reason of
Advances and other appropriate charges hereunder.

         Section 2.03 USE OF LOAN PROCEEDS. The Loan proceeds shall be used by
BORROWER to finance its purchase of the Truck Equipment.

         Section 2.04 NOTE. Each Advance under the Loan shall be evidenced by a
separate promissory note (collectively, the "NOTE"), in form and substance
acceptable to BANK. Each Note shall bear interest from the date of the Advance
thereunder at the rate and calculated in the manner provided therein, and shall
be otherwise payable as set forth therein. Dates and amounts of Advances, and
payments received by BANK, shall be evidenced by entries upon the books and
records of BANK, and shall be reflected in monthly statements, which shall be
conclusive evidence of such dates and amounts of Advances, and payments.

         Section 2.05 DURATION; EXTENSION. Availability of funds under the Loan
shall terminate on the last day of the Advance Period; provided, however, that
the parties recognize that they may wish to extend the expiration date by mutual
agreement to be negotiated prior to such expiration date. It is understood that
any extension may require a revision of certain provisions of this Agreement.

                                   ARTICLE III

                                SECURITY FOR LOAN

         Section 3.01 SECURITY INTEREST OF BANK IN COLLATERAL. As security for
the payment and performance of all Liabilities, BANK shall have, and is hereby
granted a

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continuing security interest in the following Collateral, whether now owned or
existing or hereafter created, acquired or arising and wheresoever located:

                  (a) (i) The Truck Equipment described on Exhibit "A" hereto
and (ii) all Truck Equipment or other Equipment and other personal property of
BORROWER purchased with the proceeds of the Loan;

                  (b) All goods, instruments, certificates or other documents
of title, policies and certificates of insurance, securities, chattel paper,
deposits, cash or other property owned by BORROWER or in which BORROWER has an
interest which are now or may hereafter be in the possession of BANK or as to
which BANK may now or hereafter control possession by documents of title or
otherwise;

                  (c) Proceeds and products (including tort and insurance
claims) of all of the foregoing.

         Section 3.02 AFTER-ACQUIRED PROPERTY. No submission by BORROWER is
necessary to vest in BANK a security interest in hereafter created or acquired
Collateral, but, rather such title and security interest shall vest in BANK
immediately upon the creation or acquisition of any item of Collateral, without
the necessity for any other or further action by BORROWER or BANK.

         Section 3.03 OTHER APPLICABLE LAW. If, by reason of location of
Collateral or otherwise, the creation, validity or perfection of security
interests provided for herein are governed by the law of a jurisdiction other
than Alabama, BORROWER shall take such steps and execute and deliver such papers
as BANK may from time to time request to comply with the Uniform Commercial
Code, the Uniform Trust Receipts Act, the Factors Lien Act or other laws of
another state or states.

                                   ARTICLE IV

                          REPRESENTATIONS AND WARRANTIES

         To induce BANK to enter into this Agreement, BORROWER represents and
warrants as follows:

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          Section 4.01 ORGANIZATION AND AUTHORITY. Each BORROWER (a) is an
Alabama corporation which is duly organized, validly existing and in good
standing under the laws of the State of Alabama; (b) has all necessary corporate
power and authority, and possesses all licenses and permits as are required for
BORROWER to own its assets and conduct its business as now conducted or
presently proposed to be conducted; (c) has no subsidiaries other than Boyd
Brothers Truck and Tractor; and (d) is duly qualified and in good standing in
the State of Alabama and in every other jurisdiction wherein its ownership or
leasing of assets or conduct of its business makes such qualification necessary.

          Section 4.02 BORROWER'S AUTHORIZATION. The execution, delivery and
performance of this Agreement, the Note, the Security Agreement, and the other
Loan Documents, the granting of the power of attorney under Section 8.03 hereof,
and the borrowing hereunder and under the Note, are within BORROWER'S corporate
powers and authority, have been duly and validly authorized by all necessary
corporate and other action including, without limitation, any necessary
shareholder action, are not in contravention of law or the terms of BORROWER'S
Articles of Incorporation, By-Laws or other incorporation documents, or of any
indenture, agreement or undertaking or any law, regulation, or order to which
BORROWER is a party or by which it is bound.

          Section 4.03 ENFORCEABILITY. Upon execution and delivery hereof and
thereof, this Agreement, the Note, the Security Agreement, and the other Loan
Documents will constitute valid and binding obligations of the respective
parties thereto, enforceable in accordance with their respective terms.

          Section 4.04 OWNERSHIP OF COLLATERAL. Except for the security
interests granted in connection herewith, or heretofore granted to BANK,
BORROWER is, and as to assets to be acquired after the date hereof, shall be,
the owner of all Collateral with respect to which it grants a security interest
hereunder, free from any lien, security interest or encumbrance, and BORROWER
shall defend its assets against all claims and demands of all persons at any
time claiming the same or any interest therein.

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         Section 4.05 OTHER COLLATERAL. At the time BORROWER pledges, sells,
assigns, or transfers to BANK any instrument, document of title, security,
chattel paper or other property or any interest therein, BORROWER shall be the
lawful owner thereof and shall have good right to pledge, sell, assign or
transfer the same; none of such property shall have been pledged, sold, assigned
or transferred to any person other than BANK or in any way encumbered; and
BORROWER shall defend the same against the lawful claims and demands of all
persons.

         Section 4.06 FINANCIAL INFORMATION. Subject to any limitations stated
therein or in connection therewith, all financial statements which have been or
may hereafter be furnished to BANK to induce it to enter into this Agreement, to
extend credit from time to time hereunder, or otherwise in connection herewith,
do or shall fairly represent the financial condition of BORROWER or other person
or entity reported on therein, as of the dates and, in the case of BORROWER, the
results of its operations for the periods for which the same are furnished, in
accordance with generally accepted accounting principles consistently applied,
and all other information, reports and other papers and dates furnished to BANK
are or shall be, at the time the same are so furnished, accurate and correct in
all material respects and complete insofar as completeness may be necessary to
give BANK a true and accurate knowledge of the subject matter. There has been no
material adverse change in the business, properties, prospects, or condition
(financial or otherwise) of the BORROWER since the dates of the most recent
financial statements provided to the BANK. BORROWER has good and marketable
title to all the properties and assets reflected on its balance sheet furnished
to BANK, free and clear of mortgages, pledges, liens, charges and other
encumbrances, other than encumbrances in favor of BANK and encumbrances securing
indebtedness reflected on such balance sheet.

         Section 4.07 NO VIOLATIONS. BORROWER is not now in default under any
agreement evidencing an obligation for the payment of money, performance of a
service or delivery of goods, the demand for performance under which, or
acceleration

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of the maturity of which, would render BORROWER insolvent or unable to meet its
other debts as they become due or conduct its business as usual.

         Section 4.08 LITIGATION. There is no action, suit, or proceeding at law
or in equity or by or before any governmental instrumentality or other agency
now pending, or, to the knowledge of the BORROWER, threatened or in prospect
against or affecting the BORROWER or any properties or rights of the BORROWER,
which, if adversely determined, would (i) materially impair the right of the
BORROWER to carry on business substantially as now conducted or (ii) materially
and adversely affect the financial condition of the BORROWER. BORROWER is not
currently affected by any strike or other labor disturbance nor is BORROWER in
default in any material respect under any judgment, order, injunction, rule,
ruling, of any court or governmental commission, agency, or instrumentality.

                                    ARTICLE V

                              AFFIRMATIVE COVENANTS

         Section 5.01 FINANCIAL STATEMENTS. BORROWER shall furnish or cause to
be furnished to BANK, (a) on a quarterly basis, within sixty (60) days after the
end of each quarter, internally prepared profit and loss statements for
BORROWER; and (b) on an annual basis, audited year-end financial statements
prepared by a certified public accountant acceptable to BANK. Statements
required under Section 5.01(b) immediately preceding shall be provided as soon
as available after the end of the fiscal period reported on therein, but no
later than ninety (90) days after the end of such period. In addition, BORROWER
shall furnish BANK, on an annual basis, year-end financial statements on any
guarantor of the Loan in a form acceptable to BANK, as soon as available, but no
later than 60 days after the end of each year.

         Section 5.02 CERTIFICATIONS. All statements and reports required by
this Article V shall be certified as true and correct by the President or a
Vice-President of BORROWER, or in the case of Guarantor, by or on behalf of the
Guarantor.

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         Section 5.03 EXPENSES. BORROWER shall pay any and all taxes, charges
and expenses of every kind or description paid or incurred by BANK under or with
respect to the Loan or any Collateral therefor or the collection of or
realization upon the same. BORROWER hereby authorizes BANK to charge interest,
charges, taxes and expenses provided for herein to BORROWER'S Loan Account.

         Section 5.04 INSURANCE. BORROWER shall have and maintain at all times
liability insurance and, with respect to the Collateral and other assets of
BORROWER, insurance against risks of fire, so-called extended coverage, and
other risks customarily insured against by companies engaged in similar business
to that of BORROWER, in amounts, containing such terms, in such form, for such
periods and written by such companies as may be satisfactory to BANK. Where
insurance covers Collateral for loans to BORROWER from BANK, such insurance
shall be payable to BANK and to BORROWER as their interests may appear, pursuant
to a long-form New York standard non-contributory mortgagee clause or
endorsement. All policies of insurance shall provide for ten (10) days' written
minimum cancellation notice to BANK. In the event of BORROWER'S failure to
provide and maintain insurance as herein provided, BANK may, at its option,
provide such insurance and charge the amount thereof to the BORROWER'S Loan
Account or add the same to the principal balance of the Loan. BORROWER shall
furnish to BANK certificates or other evidence satisfactory to BANK of
compliance with the foregoing insurance provisions. Notwithstanding anything to
the contrary contained or implied herein, BORROWER may self-insure its fleet of
vehicles (including the Collateral) as to physical damage, but shall obtain
insurance against catastrophic loss (in excess of an aggregate of $500,000) of
Collateral and other assets. BORROWER shall provide BANK evidence satisfactory
to BANK the existence of such catastrophic insurance, which policy of insurance
shall name BANK as loss payee pursuant to a New York standard non-contributory
endorsement or clause. In the event of any loss with respect to any item of
Collateral, BORROWER will make an additional payment under the Loan in an amount
equal to the portion of

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the outstanding Loan balance representing the purchase money advanced against
the Collateral with respect to which such loss has occurred.

          Section 5.05 INFORMATION REGARDING COLLATERAL. BORROWER shall furnish
to BANK information adequate to identify and evaluate the Collateral at times
and in form and substance as may be requested by BANK.

          Section 5.06 REGISTRATION AND TITLING. BORROWER shall cause all
Collateral that is required to be registered, to be properly registered in
BORROWER'S name, and will cause the title certificates for all Collateral to
reflect BORROWER'S ownership and BANK'S lien.

          Section 5.07 RECORDS REGARDING COLLATERAL. BORROWER shall give BANK
written notice of each location at which Collateral and records regarding
Collateral are or will be kept other than for temporary processing, storage or
like purposes. Except as such notice is given, and except as Collateral is moved
from place to place in the ordinary course of BORROWER'S trucking business, all
Collateral and records are and shall be kept at BORROWER'S address as it appears
in Section 10.04 of this Agreement.

          Section 5.08 INSPECTION. BORROWER shall at all reasonable times and
from time to time allow BANK, by or through any of its officers, agents,
attorneys, or accountants, to examine, inspect or make extracts from BORROWER'S
books and records and to arrange for verification of Collateral, under
reasonable procedures and by reasonable methods, and shall do, make, execute and
deliver all such additional and further acts, things, deeds, assurances and
instruments as the BANK may require more completely to vest in and assure to the
BANK its rights hereunder or in any Collateral.

          Section 5.09 TAXES. BORROWER will promptly pay or cause to be paid all
taxes, customs fees, and freight charges on the Collateral and will at all times
keep the Collateral free and clear of all liens and claims whatsoever, other
than the security interests granted hereby. BORROWER agrees to do and cause to
be done all things that the BANK may request to establish and maintain a valid
title and security interest in the Collateral, free of all other liens and
claims whatsoever, to secure the payment

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of the Liabilities. If such taxes or other assessments remain unpaid after the
date fixed for the payment of the same, or if any lien shall be claimed which,
in the opinion of the BANK, could create a valid obligation having priority over
the rights of the BANK in the Collateral, the BANK may, without notice to the
BORROWER, pay such taxes, assessments, charges or claims, and the BORROWER
unconditionally promises to reimburse BANK for any amounts so paid upon demand.

         Section 5.10 CONTINUED EXISTENCE, PROTECTION OF PROPERTY, INSURANCE.
BORROWER shall do or cause to be done all that is necessary (a) to preserve its
existence and in keep in full force and effect all of its governmental permits,
licenses, charters, consents and franchises, and to comply with all applicable
laws; (b) to conduct and operate its business in a prudent and careful manner;
(c) to preserve its properties; and (d) subject to the limitation regarding
self-insurance in Section 6.04 hereof, to maintain adequate insurance with
insurance companies of recognized responsibility, including without limitation,
(i) insurance coverage to such extent and against such risks, including fire,
casualty, and theft, as is customary in BORROWER'S business, (ii) necessary
workmen's compensation insurance; (iii) such other insurance or bonds as may be
required by law or reasonably requested in writing by BANK; and (iv) pay all
taxes applicable to it or levied against any of its properties as and when the
same shall become due and payable.

         Section 5.11 RECORDS. BORROWER shall keep or cause to be kept accurate
records concerning its business and shall maintain or cause to be maintained a
system of accounting and proper books of record and account in accordance with
general accepted accounting principles applicable to the particular entity, and
will set aside an its books all proper and adequate reserves for taxes,
depreciation, depletion, obsolescence, loan losses, amortization, contract
cancellations, defaults, or other breaches of contract, and otherwise as may be
appropriate in accordance with said principles.

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<PAGE>   12

         Section 5.12 CERTIFICATES. On a quarterly basis, and at such other
times as BANK shall request, BORROWER shall supply to BANK a written certificate
as to the following:

               (i) that there does not exist any default or Event of Default, or
          any condition or event which, with the giving of notice or the passage
          of time, or both, would constitute such an Event of Default, under the
          Agreement, the Note, or any other Loan Documents;

               (ii) that all representations, warranties and covenants contained
          in this Agreement and the other Loan Documents remain true and
          accurate through the date of such certificate, except as may be noted
          and acceptable to BANK;

               (iii) that all conditions precedent to BANK'S obligation to make
          advances under the Loan have been and remain fully satisfied; and

               (iv) that all of the Collateral is in good repair and useful in
          BORROWER'S business.

         Section 5.13 NOTICE OF ADVERSE EVENTS. BORROWER shall promptly notify
BANK of the filing of any notice, suit, claim, action, proceeding, or
investigation in or by any court or by any governmental authority in which an
adverse decision reasonably could be expected to have a material adverse effect
upon the BORROWER, and shall promptly notify BANK of the occurrence of any
material adverse order, judgment, settlement, determination, or other adverse
event, or of any default or Event of Default or any condition or event which,
with the giving of notice or the passage of time, or both, would constitute such
an Event of Default, under this Agreement or under any of the other Loan
Documents. BORROWER also shall promptly notify BANK of the occurrence of any
other condition or event which could have a material adverse effect upon it.

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<PAGE>   13

                                   ARTICLE VI

                               NEGATIVE COVENANTS

         BORROWER covenants and agrees that from the date hereof until payment
in full of the Loan, and any other indebtedness and Liabilities, and the
termination of this Agreement, unless BANK shall otherwise consent in writing,
BORROWER will not either directly or indirectly:

         Section 6.01 CASH FLOWS-TO-CURRENT MATURITIES OF LONG-TERM DEBT. Cause
or allow the ratio of BORROWER'S cash flows-to-current maturities of long-term
debt to be less than 1.2:1. As used in this Section, "CASH FLOWS" means net
profits less dividends, plus lease expense and depreciation and any other
expenses which would be classified as non-cash expenses in accordance with
generally accepted accounting principles and "CURRENT MATURITIES OF LONG TERM
DEBT" means the outstanding principal balance of indebtedness and lease expense
due within twelve (12) months.

         Section 6.02 FINANCIAL RATIOS. All financial ratios in this Agreement
shall be determined on a combined basis in accordance with generally accepted
accounting principles applied on a consistent basis.

         Section 6.03 NO ENCUMBRANCES ON COLLATERAL. BORROWER shall not pledge,
mortgage, sell, assign or create, or suffer to exist a security interest in
Collateral in favor of any person other than BANK.

         Section 6.04 MANAGEMENT; OWNERSHIP. Cause or allow any material change
in the ownership or senior management of BORROWER, including without limitation
any change in the officers of the BORROWER at or above the level of its vice
president.

         Section 6.05 DEBT-TO-TANGIBLE NET WORTH. Cause or allow the BORROWER'S
ratio of total debt (defined as all of BORROWER'S Indebtedness and Liabilities
to whomsoever the same may be owing, whether now or hereafter existing, created
or arising, absolute or contingent, direct or indirect, joint or several,
including without limitation, all indebtedness under the Loan)-to-Consolidated
Tangible Net Worth (as defined in Section 6.02 hereof) to be greater than
2.75:1.

                                       13
<PAGE>   14

         Section 6.06 LOANS TO RELATED PARTIES. Cause or allow BORROWER'S loans
or other advances to BORROWER'S shareholders, officers, partnerships,
subsidiaries, affiliates, directors or other related entities to exceed
$2,000,000 at any time outstanding.

                                  ARTICLE VII

                                   CONDITIONS

         BANK'S obligation to make the Loan available to BORROWER, and to make
any advance thereunder, is subject to the full satisfaction of the following
conditions precedent:

         Section 7.01 NO DEFAULT. There shall not exist any default or Event of
Default, or any condition or event which, after notice or lapse of time or both,
would constitute such an Event of Default hereunder or under any other Loan
Documents.

         Section 7.02 OPINION OF COUNSEL. BANK shall have received from counsel
to BORROWER a favorable opinion in satisfactory scope and form as to all matters
reasonably requested by BANK.

         Section 7.03 DELIVERY OF DOCUMENTS. Delivery to BANK of the purchase
orders and Certificates of Title for the Collateral to be purchased with the
proceeds of the requested advance, the duly-executed Note and Guaranty, and all
other documents or instruments which BANK shall require in connection with
making the Loan.

         Section 7.04 TERMS AND CONDITIONS. Continued fulfillment and
satisfaction through the date hereof and as of the date of any requested advance
of all the terms, representations, warranties, conditions and covenants hereof.

         Section 7.05 OFFICER'S CERTIFICATE. BANK shall have received a
certificate of the President or other officer authorized by resolution of
BORROWER stating that all representations and warranties contained in this
Agreement and all other Loan Documents are and remain true and accurate as of
the date of such advance and that there exists no default or Event of Default
hereunder or under any other Loan Document, or any condition or event which,
with the giving of notice or the passage

                                       14
<PAGE>   15

of time, or both, would become an Event of Default hereunder or under any other
Loan Document.

                                  ARTICLE VIII

                         DEFAULT AND REMEDIES ON DEFAULT

         Section 8.01 EVENTS OF DEFAULT; ACCELERATION. At the option of BANK and
notwithstanding any time or credit allowed by any instrument evidencing any of
the Liabilities, any or all of the Liabilities of BORROWER or any other person
to BANK hereunder shall immediately become due and payable upon the occurrence
of any of the following events of default ("Events of Default"), without notice
or demand to BORROWER, Guarantor, or any other person: (a) default in the
payment or performance, when due or payable, of any of the Liabilities of
BORROWER or any other person or entity, or of any endorser or Guarantor for any
of the Liabilities of BORROWER or any other person or entity to BANK or the
occurrence of any Event of Default under any Loan Document; (b) failure of
BORROWER to pay any tax; (c) if any representation or warranty contained herein
is or becomes inaccurate or if BORROWER or Guarantor have made, or hereafter
make any misrepresentation to BANK for the purpose of obtaining credit or an
extension of credit; (d) failure of BORROWER to furnish or cause to be furnished
financial information or to permit or cause to be permitted the inspection of
books or records; (e) issuance of an injunction or attachment against property
of BORROWER or any Guarantor; (f) calling of a meeting of creditors, appointment
of a committee of creditors or liquidating agents, or offering of a composition
or extension to creditors by, for or of BORROWER or any endorser or Guarantor of
any of the Liabilities of BORROWER to BANK; (g) insolvency of BORROWER or any
endorser or Guarantor of any of the Liabilities of BORROWER to BANK; (h) such a
material change in the condition or affairs (financial or otherwise) of BORROWER
or of any endorser or Guarantor of any of the Liabilities of BORROWER to BANK as
in the opinion of BANK impairs BANK'S security or increases its risk; (i)
failure by BORROWER or any Guarantor to comply with any of the provisions of
this Agreement; (j) failure to make any payments required by this Agreement; (k)
default

                                       15
<PAGE>   16

shall be made with respect to any Indebtedness (other than the Note) of the
BORROWER or the Guarantor, when due, or the performance of the other obligation
incurred in connection with any Indebtedness for borrowed money of the BORROWER,
or the Guarantor, if the effect of such default is to accelerate the maturity of
such Indebtedness or to permit the holder thereof to cause such Indebtedness to
become due prior to its stated maturity, or any such Indebtedness shall not be
paid when due; or (l) if there shall occur any default or Event of Default, or
any condition or event which with the giving of notice or the passage of time,
or both, would become an Event of Default, under, pursuant to or with respect to
any Indebtedness or loan transaction or any document or instrument evidencing,
securing, guaranteeing, or relating to any Indebtedness or loan transaction of
BORROWER.

         Section 8.02 RIGHTS UPON DEFAULT. Upon the occurrence of any one or
more of the above Events of Default and at any time thereafter, such default not
having previously been cured, BANK shall have, in addition to all other rights
and remedies, the remedies of a secured party under the Alabama Uniform
Commercial Code, regardless whether the Code has been enacted in the
jurisdiction where rights or remedies are asserted, including without
limitation, the right to take possession of the Collateral, and for that purpose
BANK may, so far as BORROWER or Guarantor can give authority therefor, enter
upon any premises on which the Collateral may be situated and remove the same
therefrom or store the same on the premises pending disposition. Unless the
Collateral is perishable or threatens to decline speedily in value or is of a
type customarily sold on a recognized market, BANK shall give to BORROWER at
least five (5) days' prior written notice of the time and place of any public
sale of Collateral or of the time after which any private sale or any other
intended disposition is to be made. Upon fifteen (15) days' prior written notice
to BORROWER, BANK may at any time in its discretion transfer any securities or
other property constituting Collateral into its own name or that of its nominee
and receive the income thereon and hold the same as security for Liabilities or
apply it on principal or interest due on Liabilities. Insofar as Collateral
shall consist of insurance policies,

                                       16
<PAGE>   17

instruments, chattel paper, choices in action or the like, BANK may demand,
collect, receipt for, settle, compromise, adjust, sue for, foreclose or realize
upon Collateral, as BANK may determine, whether or not Liabilities or Collateral
are then due, and for the purpose of realizing BANK'S rights therein, BANK may
receive, open and dispose of mail addressed to BORROWER and endorse notes,
checks, drafts, money orders, documents of title or other evidences of payment,
shipment or storage or any form of Collateral on behalf of and in the name of
BORROWER. The enumeration of the foregoing rights is not intended to be
exhaustive, and the exercise of any right shall not preclude the exercise of any
other rights, all of which shall be cumulative. As against the obligations
secured hereby, BORROWER hereby expressly waives all claims and all rights to
claim any exemptions, both as to personal and real property, allowed or
allowable under the Constitution or laws of the United States, the State of
Alabama or any other jurisdiction. Any notice to BORROWER of sale, disposition
or other intended action by BANK, required by law to be given to BORROWER, sent
to BORROWER at the address of BORROWER shown hereinabove or at such other
address of BORROWER as may from time to time be shown on BANK'S records, at
least five days prior to such action, shall constitute reasonable notice to
BORROWER.

         Section 8.03 POWER OF ATTORNEY. BORROWER hereby requests, authorizes
and empowers Billy V. Houston, or any other officer or employee of BANK who may
be designated by BANK for that purpose to make, execute and file, any financing
statements, documents or certificates of title, or other documents, and to take
any and all such other steps as BANK deems necessary or desirable to perfect and
continue the perfection of BANK'S security interest in the Collateral. No
failure by BANK to exercise for any period the powers herein granted shall
operate or be construed as a waiver of BANKS rights thereafter to exercise such
authorizations and powers. The foregoing power of attorney is coupled with an
interest and shall be irrevocable so long as any Liabilities or Indebtedness
hereunder, under the Note, or under the other Loan Documents remain outstanding.

                                       17
<PAGE>   18

         Section 8.04 SET OFF. BANK hereby is given a continuing lien as
security for BORROWER'S obligations hereunder upon any and all moneys,
securities and other property of BORROWER, and the proceeds thereof, now or
hereafter held or received by or in transit to BANK from or for BORROWER,
whether for safekeeping, custody, pledge, transmission, collection or otherwise,
and also upon any and all deposit balances, general or special, and credits of
BORROWER with, and any and all claims of BORROWER against BANK at any time
existing, and upon an Event of Default hereunder, BANK may apply or set off the
same against the Liabilities hereby secured.

                                   ARTICLE IX

                                  MISCELLANEOUS

         Section 9.01 WAIVERS. BORROWER hereby waives demand, notice, protest,
notice of acceptance of this Agreement, notice of loans made, credit extended,
Collateral received or delivered or other action taken in reliance hereon and
all other demands and notices of any description. With respect both to
Liabilities and Collateral, BORROWER assents to any extension or postponement of
the time of payment or any other indulgence, to any substitution, exchange or
release of any Collateral which may now or hereafter secure Liabilities, to the
addition or release of any party or person primarily or secondarily liable, to
the acceptance of partial payments hereon and to the settlement, compromise or
adjustment of any thereof, all in such manner and at such time or times as BANK
may in its sole discretion deem advisable. BANK shall have no duty as to the
collection or protection of any Collateral or any income thereon, nor as to the
preservation of rights against prior parties, nor as to the preservation of any
rights pertaining thereto beyond the safe custody thereof. BANK may exercise its
rights with respect to any Collateral without resorting or regard to other
Collateral or sources of reimbursement for Liabilities. BANK shall not be deemed
to have waived any of its rights upon or under Liabilities or Collateral unless
such waiver is in writing and signed by BANK. No delay or omission on the part
of BANK in exercising any right shall operate as a waiver of such right or any
other right.

                                       18
<PAGE>   19

A waiver on any one occasion shall not be construed as a bar to or waiver of any
right on any future occasion. All rights and remedies of BANK with respect to
Liabilities or Collateral, whether evidenced hereby or by any other instrument,
shall be cumulative and may be exercised separately or concurrently.

          Section 9.02 EXPENSES; PROCEEDS OF COLLATERAL. BORROWER shall pay to
BANK on demand any and all expenses, including reasonable attorneys' fees,
incurred or paid by BANK in collecting or otherwise protecting or enforcing or
attempting to collect, protect or enforce its rights upon or under Liabilities
or Collateral. After deducting all of said expenses, the residue of any proceeds
of collection or sale of Liabilities or Collateral shall be applied to the
payment of principal or interest on Liabilities, in such order of preference as
BANK may determine with proper allowance for interest on Liabilities not then
due being made, and any excess shall be returned to BORROWER and BORROWER shall
remain liable for any deficiency.

          Section 9.03 AMENDMENT. No modification or amendment of this Agreement
shall be effective unless placed in writing and duly executed by the BORROWER
and the BANK. By guaranteeing the Liabilities described herein, Guarantor
expressly agrees that BORROWER and BANK may, without notice to or consent by
Guarantor, modify or amend this Agreement. Neither party shall be obligated in
any respect to extend the termination date hereof.

          Section 9.04 GENERAL. Any demand upon or notice that BANK may elect to
give to BORROWER and any notice required to be given to BANK shall be effective
three (3) days after the same has been deposited in the United States mail,
first class with postage prepaid and addressed to such party at the following
addresses, as applicable, if such party has notified BANK in writing of a change
of address, to the last address so notified:

         IF TO BORROWER:                   Boyd Bros. Transportation, Inc.
                                           Route 1, Box 40
                                           Clayton, Alabama 36016

                                       19
<PAGE>   20

         IF TO BANK:                       Compass Bank
                                           223 E. Broad Street
                                           Eufaula, Alabama 36027
                                           Attention: City Executive

         with a copy to:                   Don Owens
                                           Vice President - Loan Administration
                                           Compass Bank
                                           P. O. Box 10566
                                           Birmingham, Alabama 35296

Demands or notices addressed to BORROWER'S address at which BANK customarily
communicates with BORROWER, shall also be effective. If at any time or times by
assignment or otherwise BANK transfers any of the Liabilities or Collateral
therefor, such transfer shall include BANK'S power and rights under this
Agreement with respect to the Liabilities or Collateral transferred, and the
transferee shall become vested with said powers and rights whether or not they
are specifically referred to in the transfer. If and to the extent BANK retains
any of the Liabilities or Collateral, BANK will continue to have the rights and
powers herein set forth with respect thereto. This Agreement shall bind and
inure to the benefit of the parties hereto and their respective successors,
assigns, heirs, personal representatives, and estates; provided, however, that
BORROWER shall not assign or delegate any of its rights or obligations hereunder
without the express written consent of BANK. This Agreement may be executed in
two or more counterparts, each of which shall constitute an original, but when
taken together shall constitute one agreement. This Agreement is being executed
under the seal of the parties hereto and is intended to constitute and have
effect as a sealed instrument according to law.

         Section 9.05 GOVERNING LAW; JURISDICTION. This Agreement, the Note, the
Security Agreement and the other Loan Documents, and the rights and the
obligations of the parties hereunder and thereunder, shall be governed by and be
construed in accordance with the laws of the State of Alabama. BORROWER
acknowledges that the negotiation of the provisions of the Note, this Agreement,
the Security Agreement,

                                       20
<PAGE>   21

and all other Loan Documents took place in the State of Alabama; that all of
such documents were executed in Jefferson County, Alabama, or if executed
elsewhere, will be or were delivered to BANK in said county and state subject to
BANK'S acceptance thereof in Birmingham, Jefferson County, Alabama, and that all
of such documents were or will be executed and delivered to BANK to induce BANK
to extend the Loan to BORROWER. BANK shall be under no obligation to give
BORROWER notice of acceptance of any Loan Documents for said documents and
instruments to become effective. BORROWER acknowledges further that the
negotiation, execution and delivery of this Agreement, the Note, the Security
Agreement and the other Loan Documents constitutes the transaction of business
within the State of Alabama and that any cause of action arising under any of
said documents will be a cause of action arising from such transaction of
business. BORROWER hereby submits itself to jurisdiction in the State of Alabama
for any cause of action or action arising out of or in connection with this
Agreement, the Note, or any of the other Loan Documents, and agrees that venue
for any such action shall be in Jefferson County, Alabama, and waives any and
all rights under the laws of any state to object to jurisdiction or venue within
Jefferson County, Alabama. Notwithstanding the foregoing, nothing contained in
this Section 9.05 shall prevent BANK from bringing any action or exercising any
rights against BORROWER, any security for the Loan or against any of BORROWER'S
properties in any other state or jurisdiction. Initiating any such action or
proceeding or taking any such action in any other state shall in no event
constitute a waiver by BANK of any of the foregoing.

         Section 9.06 SURVIVAL OF REPRESENTATIONS AND WARRANTIES, ETC. All
covenants, agreements, representations, and warranties made herein and in the
certificates delivered pursuant hereto shall survive the making by the BANK of
the Loan herein contemplated and the execution and delivery to the BANK of the
Note evidencing such Loan and shall continue in full force and effect so long as
the Note is outstanding and unpaid. Whenever in this Agreement any of the
parties hereto is referred to, such reference shall be deemed to include the
successors and assigns of

                                       21
<PAGE>   22

such party; and all covenants, promises, and agreements by or on behalf of the
BORROWER which are contained in this Agreement shall bind the successors and
assigns of BORROWER and inure to the benefit of the successors and assigns of
the BANK; provided, however, that BORROWER shall not assign or delegate this
Agreement, the Loan, or its rights, duties, or obligations hereunder without the
written consent of BANK.

         Section 9.07 NO CONFLICT, ETC. No provision of this Agreement or of the
Note or the other Loan Documents shall be deemed in conflict with any other
provision thereof, and the BORROWER acknowledges that no such provisions or any
interpretation thereof shall be deemed to diminish the rights of the BANK, any
assignee, or the holder or holders of the Note under the terms and conditions or
any other provisions thereof. BANK may at its option exhaust its remedies
hereunder, under the Note, and under the other Loan Documents, either
concurrently or independently, and in such order as it may determine.

         Section 9.08 HEADINGS; UNDER SEAL; ENTIRE AGREEMENT; NO THIRD PARTY
BENEFICIARY. Article and section headings in this Agreement are included herein
for convenience of reference only and shall not constitute a part of this
Agreement or be used to construe any provision hereof or for any other purpose.
This Agreement is intended to be under the seal of all parties hereto and to
have the effect of a sealed instrument in accordance with the law. This
Agreement, together with the other Loan Documents, embodies the entire agreement
and understanding between the parties, supersedes all prior agreements and
understandings related to the Loan, and may not be amended except by written
agreement between BORROWER and BANK. This Agreement shall not benefit, and may
not be relied upon by, any person other than the persons who sign this
Agreement. There are no third party beneficiaries to this Agreement or any
negotiations, statements, or representations related to this Agreement.

         Section 9.09 NO PARTNERSHIP OR JOINT VENTURE. Notwithstanding anything
to the contrary herein contained or implied, BANK, by this Agreement, or by any
action

                                       22
<PAGE>   23

pursuant thereto or hereto, shall not be deemed a partner, joint venturer, or
participant in the venture with BORROWER, and BORROWER hereby indemnifies and
agrees to defend and hold BANK harmless (including the payment of reasonable
attorneys' fees) from any and all damages resulting from such a construction of
the parties' relationship. The requirements herein, and the restrictions imposed
in this Agreement, are for the sole protection and benefit of BANK.

         Section 9.10 INDEMNIFICATION. BORROWER shall indemnify and hold
harmless BANK from and against any and all claims, charges, losses, expenses and
costs, including reasonable attorneys' fees, resulting from any claims, actions
or proceedings in connection with the execution, delivery and performance of
this Agreement, the Note, and other Loan Documents. The indemnification provided
in this section shall survive the payment in full of the Loan.

         IN WITNESS WHEREOF, the parties hereto have executed or caused this
Agreement to be duly executed by their duly authorized officers as of the date
first set forth above.

                                         BORROWER:

WITNESS:                                 BOYD BROS. TRANSPORTATION, INC.

/s/ Ginger B. Tibbs                      By: /s/ Richard C. Bailey
-------------------------                    ----------------------------
                                                  Richard C. Bailey
                                                  -----------------------
                                             Its: CFO/Exec VP

                                         BANK:

WITNESS:                                 COMPASS BANK

/s/ Rosie M. Clark                       By: /s/ Billy V. Houston
-------------------------                    ----------------------------
                                                  Billy V. Houston
                                                  -----------------------
                                             Its: City President

                                       23
<PAGE>   24

                                    EXHIBIT A

                            DESCRIPTION OF COLLATERAL

       DEBTOR: Boyd Bros. Transportation Inc.
SECURED PARTY: Compass Bank

All of Debtor's trucks, tractors, trailers and other equipment and other
personal property financed with the proceeds of any loan from Secured Party,
whether now owned or existing or hereafter created or acquired; all goods,
instruments, documents of title, policies and certificates of insurance,
securities, chattel paper, deposits, cash or other property owned by Debtor or
in which Debtor has an interest which are now or may hereafter be in the
possession of Secured Party or as to which Secured party may now or hereafter
control by possession, by documents of tile or otherwise; and proceeds and
products (including tort and insurance claims) of the foregoing:

Without limiting the generality of the foregoing, the collateral shall include:

(15) New 2000 International Trucks Model 99001 SFA 6 x 4 Serial Numbers:

2HSCHAPR4YCO39802                           2HSCHAPR6YCO39803
2HSCHAPR8YCO39804                           2HSCHAPRXYCO39805
2HSCHAPRIYCO39806                           2HSCHAPR3YCO39807
2HSCHAPR5YCO39808                           2HSCHAPR7YCO39809
2HSCHAPR3YCO39810                           2HSCHAPR5YCO39811
2HSCHAPR7YCO39812                           2HSCHAPR9YCO39813
2HSCHAPROYCO39814                           2HSCHAPR2YCO39815
2HSCHAPR4YCO39816

         FOR VALUE RECEIVED, Debtor hereby grants to Secured Party a security
interest in all of the foregoing property.

Boyd Bros. Transportation Inc.

     /s/ Richard C. Bailey
----------------------------------
Richard C. Bailey Its: CFO/Exec VP

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