Document:

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                                                                   EXHIBIT 10.64

                             STOCK PLEDGE AGREEMENT

             This STOCK PLEDGE AGREEMENT (this "Agreement"), dated as of
November 16, 2000, is entered into among FutureLink Corp., a Delaware
corporation ("Parent"), each of Parent's Subsidiaries identified on the
signature pages hereof (such Subsidiaries, together with Parent, each a
"Pledgor" and collectively, jointly and severally, the "Pledgors") and Foothill
Capital Corporation, a California corporation ("Secured Party"), with reference
to the following:

             WHEREAS, each Pledgor beneficially owns the specified Equity
Interests identified as Pledged Interests in the Persons identified as Issuers
on Schedule A attached hereto (or any addendum thereto);

             WHEREAS, contemporaneously herewith, Pledgors and Secured Party are
entering into that certain Loan and Security Agreement (the "Loan Agreement")
pursuant to which Secured Party will extend certain financial accommodations to
the Pledgors;

             WHEREAS, to induce Secured Party to make the financial
accommodations provided to the Pledgors pursuant to the Loan Agreement, each
Pledgor desires to pledge, grant, transfer, and assign to Secured Party a
security interest in the Collateral (as hereinafter defined) to secure the
Secured Obligations (as hereinafter defined), as provided herein.

             NOW, THEREFORE, in consideration of the mutual promises, covenants,
representations, and warranties set forth herein and for other good and valuable
consideration, the parties hereto agree as follows:

             1. Definitions And Construction.

             (a) Definitions. Capitalized terms used herein and not otherwise
defined herein shall have the meanings ascribed to them in the Loan Agreement.
The following terms, as used in this Agreement, shall have the following
meanings:

                    "Agreement" shall mean this Stock Pledge Agreement.

                    "Chief Executive Office" shall mean where a Pledgor is
        deemed located pursuant to Section 9103(3)(d) of the Code.

                    "Collateral" shall mean the Pledged Interests, the Future
        Rights, and the Proceeds, collectively.

                    "Designated Number" shall mean, with respect to the Foreign
        Issuer, the largest whole number of Equity Interests of the Foreign
        Issuer representing not greater than 66 2/3% of all of the fully diluted
        issued and outstanding Equity Interests of the Foreign Issuer (whether
        or not owned by any Pledgor).

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                    "Domestic Issuer" shall mean, individually and collectively,
        all Issuers other than the Foreign Issuer.

                    "Equity Interests" shall mean all shares, units, options,
        warrants, interests, participations, or other equivalents (regardless of
        how designated) of or in a corporation, partnership, limited liability
        company, or equivalent entity, whether voting or nonvoting, including
        general partner partnership interests, limited partner partnership
        interests, common stock, preferred stock, or any other "equity security"
        (as such term is defined in Rule 3a11-1 of the General Rules and
        Regulations promulgated by the SEC under the Exchange Act).

                    "Exchange Act" shall mean the Securities Exchange Act of
        1934, as amended, and any successor statute.

                    "Foreign Issuer" shall mean KNS Holdings Ltd, a company
        organized under the laws of England.

                    "Future Rights" shall mean:

                    (a) with respect to each Domestic Issuer, (i) all Equity
        Interests (other than Pledged Interests) of such Domestic Issuer, and
        all securities convertible or exchangeable into, and all warrants,
        options, or other rights to purchase, Equity Interests of such Domestic
        Issuer; (ii) to the extent of the Pledgor's interest therein, all shares
        of, all securities convertible or exchangeable into, and all warrants,
        options, or other rights of such Domestic Issuer to purchase Equity
        Interests of any Person in which a Pledgor, after the date of this
        Agreement, acquires a direct equity interest, irrespective of whether
        such Person is or becomes a Subsidiary of such Pledgor; and (iii) the
        certificates or instruments representing such additional Equity
        Interests, convertible or exchangeable securities, warrants, and other
        rights and all dividends, cash, options, warrants, rights, instruments,
        and other property or proceeds from time to time received, receivable,
        or otherwise distributed in respect of or in exchange for any or all of
        such Equity Interests; and

                    (b) with respect to the Foreign Issuer, (i) all Equity
        Interests (other than Pledged Interests) of the Foreign Issuer, and all
        securities convertible or exchangeable into, and all warrants, options,
        or other rights to purchase, Equity Interests of the Foreign Issuer;
        (ii) to the extent of Pledgor's interest therein, all shares of, all
        securities convertible or exchangeable into, and all warrants, options,
        or other rights of the Foreign Issuer to purchase Equity Interests of
        any Person in which a Pledgor, after the date of this Agreement,
        acquires a direct equity interest, irrespective of whether such Person
        is or becomes a Subsidiary of such Pledgor; and (iii) the certificates
        or instruments representing such additional Equity Interests,
        convertible or exchangeable securities, warrants, and other rights and
        all dividends, cash, options, warrants, rights, instruments, and other
        property or proceeds from time to time received, receivable, or
        otherwise distributed in respect of or in exchange for any or all of
        such Equity Interests, provided, however, that Future Rights under these
        clauses

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        (b)(i), (b)(ii), and (b)(iii) shall exclude any Future Rights to the
        extent and only to the extent that their inclusion would cause the
        number of Equity Interests pledged hereunder to exceed the Designated
        Number and giving effect to the issuance of such Future Rights and any
        related issuances.

                    "Holder" and "Holders" shall have the meanings set forth in
        Section 3 of this Agreement.

                    "Issuers" shall mean each of the Persons identified as an
        Issuer on Schedule A attached hereto (or any addendum thereto), and any
        successors thereto, whether by merger or otherwise.

                    "Loan Agreement" shall have the meaning set forth in the
        recitals to this Agreement.

                    "Parent" shall have the meaning set forth in the recitals to
        this Agreement.

                    "Pledged Interests" shall mean (a) with respect to each
        Domestic Issuer, all of the Equity Interests identified as Pledged
        Interests of such Domestic Issuer on Schedule A attached hereto (or any
        addendum thereto); and (b) with respect to the Foreign Issuer, the
        Designated Number of the Equity Interests identified as Pledged
        Interests of the Foreign Issuer on Schedule A attached hereto (or any
        addendum thereto); it being understood that it is the express intention
        of the parties hereto that the Lien granted by Parent in the Foreign
        Issuer shall at all times extend to not less than the Designated Number
        of all of the fully diluted issued and outstanding Equity Interests of
        the Foreign Issuer irrespective of any future equity issuances by
        Foreign Issuer to any Person or the sale by Parent of any portion of the
        Pledged Interests of Parent comprised of Equity Interests in the Foreign
        Issuer, in each case, to the extent permitted by the Loan Agreement.

                    "Pledgor" and "Pledgors" shall have the meaning set forth in
        the recitals to this Agreement.

                    "Proceeds" shall mean all proceeds (including proceeds of
        proceeds) of the Pledged Interests and Future Rights including all: (a)
        rights, benefits, distributions, premiums, profits, dividends, interest,
        cash, instruments, documents of title, accounts, contract rights,
        inventory, equipment, general intangibles, deposit accounts, chattel
        paper, and other property from time to time received, receivable, or
        otherwise distributed in respect of or in exchange for, or as a
        replacement of or a substitution for, any of the Pledged Interests,
        Future Rights, or proceeds thereof (including any cash, Equity
        Interests, or other securities or instruments issued after any
        recapitalization, readjustment, reclassification, merger or
        consolidation with respect to the Issuers and any security entitlements,
        as defined in Section 8102(a)(17) of the Code, with respect thereto);
        (b) "proceeds," as such term is used in Section 9306 of the Code; (c)
        proceeds of any insurance, indemnity, warranty, or guaranty (including

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        guaranties of delivery) payable from time to time with respect to any of
        the Pledged Interests, Future Rights, or proceeds thereof; (d) payments
        (in any form whatsoever) made or due and payable to a Pledgor from time
        to time in connection with any requisition, confiscation, condemnation,
        seizure or forfeiture of all or any part of the Pledged Interests,
        Future Rights, or proceeds thereof; and (e) other amounts from time to
        time paid or payable under or in connection with any of the Pledged
        Interests, Future Rights, or proceeds thereof.

                    "SEC" shall mean the United States Securities and Exchange
        Commission and any successor thereto.

                    "Secured Obligations" shall mean the Obligations.

                    "Secured Party" shall have the meaning set forth in the
        preamble to this Agreement.

                    "Securities Act" shall have the meaning set forth in Section
        9(c) of this Agreement.

             (b) Construction.

                         (i) Unless the context of this Agreement clearly
requires otherwise, references to the plural include the singular and to the
singular include the plural, the part includes the whole, the term "including"
is not limiting, and the term "or" has, except where otherwise indicated, the
inclusive meaning represented by the phrase "and/or." The words "hereof,"
"herein," "hereby," "hereunder," and other similar terms in this Agreement refer
to this Agreement as a whole and not exclusively to any particular provision of
this Agreement. Article, section, subsection, exhibit, and schedule references
are to this Agreement unless otherwise specified. All of the exhibits or
schedules attached to this Agreement shall be deemed incorporated herein by
reference. Any reference to any of the following documents includes any and all
alterations, amendments, restatements, extensions, modifications, renewals, or
supplements thereto or thereof, as applicable: this Agreement, the Loan
Agreement, or any of the other Loan Documents.

                         (ii) Neither this Agreement nor any uncertainty or
ambiguity herein shall be construed or resolved against Secured Party or a
Pledgor, whether under any rule of construction or otherwise. On the contrary,
this Agreement has been reviewed by each of the parties signatory hereto and
their respective counsel and shall be construed and interpreted according to the
ordinary meaning of the words used so as to fairly accomplish the purposes and
intentions of the parties hereto.

                         (iii) In the event of any direct conflict between the
express terms and provisions of this Agreement and of the Loan Agreement, the
terms and provisions of the Loan Agreement shall control.

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        2. Pledge. As security for the prompt payment and performance of the
Secured Obligations in full by each Pledgor when due, whether at stated
maturity, by acceleration or otherwise (including amounts that would become due
but for the operation of the provisions of the Bankruptcy Code), each Pledgor
hereby pledges, grants, transfers, and assigns to Secured Party a security
interest in all of such Pledgor's right, title, and interest in and to the
Collateral.

        3. Delivery and Registration of Collateral.

             (a) All certificates or instruments representing or evidencing the
Collateral shall be promptly delivered by the Pledgors to Secured Party or
Secured Party's designee pursuant hereto at a location designated by Secured
Party and shall be held by or on behalf of Secured Party pursuant hereto, and
shall be in suitable form for transfer by delivery, or shall be accompanied by
duly executed instruments of transfer or assignment in blank, all in form and
substance satisfactory to Secured Party.

             (b) Upon the occurrence and during the continuance of an Event of
Default, Secured Party shall have the right, at any time in its discretion and
without notice to Pledgor, to transfer to or to register on the books of the
Issuers (or of any other Person maintaining records with respect to the
Collateral) in the name of Secured Party or any of its nominees any or all of
the Collateral. In addition, Secured Party shall have the right at any time to
exchange certificates or instruments representing or evidencing Collateral for
certificates or instruments of smaller or larger denominations.

             (c) If, at any time and from time to time, any Collateral
(including any certificate or instrument representing or evidencing any
Collateral) is in the possession of a Person other than Secured Party or the
applicable Pledgor (a "Holder"), then such Pledgor shall immediately, at Secured
Party's option, either cause such Collateral to be delivered into Secured
Party's possession, or execute and deliver to such Holder a written
notification/instruction, and take all other steps necessary to perfect the
security interest of Secured Party in such Collateral, including obtaining from
such Holder a written acknowledgement that such Holder holds such Collateral for
Secured Party, all pursuant to Section 9115 of the Code or other applicable law
governing the perfection of Secured Party's security interest in the Collateral
in the possession of such Holder. Each such notification/instruction and
acknowledgement shall be in form and substance satisfactory to Secured Party.

             (d) Any and all Collateral (including dividends, interest, and
other cash distributions) at any time received or held by a Pledgor shall be so
received or held in trust for Secured Party, shall be segregated from other
funds and property of the applicable Pledgor and shall be forthwith delivered to
Secured Party in the same form as so received or held, with any necessary
endorsements; provided that cash dividends or distributions received by a
Pledgor, if and to the extent they are not prohibited by the Loan Agreement, may
be retained by the applicable Pledgor in accordance with Section 4 and used in
the ordinary course of such Pledgor's business.

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             (e) If at any time and from time to time any Collateral consists of
an uncertificated security or a security in book entry form, then the applicable
Pledgor shall immediately cause such Collateral to be registered or entered, as
the case may be, in the name of Secured Party or otherwise cause the security
interest held by Secured Party to be perfected in accordance with applicable
law.

             4. Voting Rights and Dividends.

             (a) So long as no Event of Default shall have occurred and be
continuing, each Pledgor shall be entitled to exercise any and all voting and
other consensual rights pertaining to the Collateral or any part thereof for any
purpose not inconsistent with the terms of the Loan Documents.

             (b) Upon the occurrence and during the continuance of an Event of
Default, all rights of each Pledgor to exercise the voting and other consensual
rights or receive and retain cash dividends or distributions that it would
otherwise be entitled to exercise or receive and retain, as applicable pursuant
to Section 4(a), shall cease, and all such rights shall thereupon become vested
in Secured Party, who shall thereupon have the sole right to exercise such
voting or other consensual rights and to receive and retain such cash dividends
and distributions. Each Pledgor shall execute and deliver (or cause to be
executed and delivered) to Secured Party all such proxies and other instruments
as Secured Party may reasonably request for the purpose of enabling Secured
Party to exercise the voting and other rights which it is entitled to exercise
and to receive the dividends and distributions that it is entitled to receive
and retain pursuant to the preceding sentence.

        5. Representations and Warranties. Each Pledgor represents, warrants,
and covenants as follows:

             (a) Such Pledgor has taken all steps it deems necessary or
appropriate to be informed on a continuing basis of changes or potential changes
affecting the Collateral (including rights of conversion and exchange, rights to
subscribe, payment of dividends, reorganizations or recapitalization, tender
offers and voting rights), and each Pledgor agrees that Secured Party shall have
no responsibility or liability whatsoever for informing any Pledgor of any such
changes or potential changes or for taking any action or omitting to take any
action with respect thereto;

             (b) All information herein or hereafter supplied to Secured Party
by or on behalf of such Pledgor in writing with respect to the Collateral is, or
in the case of information hereafter supplied will be, accurate and complete in
all material respects;

             (c) Such Pledgor is and will be the sole legal and beneficial owner
of the Collateral (including the Pledged Interests and all other Collateral
acquired by such Pledgor after the date hereof) free and clear of any adverse
claim, Lien, or other right, title, or interest of any party, other than the
Liens held by Secured Party;

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             (d) This Agreement, and the delivery to Secured Party of the
Pledged Interests representing Collateral (or the delivery to all Holders of the
Pledged Interests representing Collateral of the notification/instruction
referred to in Section 3 of this Agreement), creates a valid, perfected, and
first priority security interest in one hundred percent (100%) of the Pledged
Interests in favor of Secured Party securing payment of the Secured Obligations,
and all actions necessary to achieve such perfection have been duly taken;

             (e) Schedule A to this Agreement is true and correct and complete
in all material respects; without limiting the generality of the foregoing: (i)
except as set forth in Schedule A, all the Pledged Interests are in certificated
form, and, except to the extent registered in the name of Secured Party or its
nominee pursuant to the provisions of this Agreement, are registered in the name
of the applicable Pledgor; and (ii) the Pledged Interests as to each of the
Issuers constitute at least the percentage of all the fully diluted issued and
outstanding Equity Interests of such Issuer as set forth in Schedule A to this
Agreement;

             (f) There are no presently existing Future Rights or Proceeds owned
by any Pledgor;

             (g) The Pledged Interests have been duly authorized and validly
issued and are fully paid and nonassessable; and

             (h) Neither the pledge of the Collateral pursuant to this Agreement
nor the extensions of credit represented by the Secured Obligations violates
Regulation T, U or X of the Board of Governors of the Federal Reserve System.

             6. Further Assurances.

             (a) Each Pledgor agrees that from time to time, at the expense of
such Pledgor, that it will promptly execute and deliver all further instruments
and documents, and take all further action that may be necessary or reasonably
desirable, or that Secured Party may request, in order to perfect and protect
any security interest granted or purported to be granted hereby or to enable
Secured Party to exercise and enforce its rights and remedies hereunder with
respect to any Collateral. Without limiting the generality of the foregoing,
each Pledgor will: (i) at the request of Secured Party, mark conspicuously each
of its records pertaining to the Collateral with a legend, in form and substance
reasonably satisfactory to Secured Party, indicating that such Collateral is
subject to the security interest granted hereby; (ii) execute and file such
financing or continuation statements, or amendments thereto, and such other
instruments or notices, as may be necessary or reasonably desirable, or as
Secured Party may request, in order to perfect and preserve the security
interests granted or purported to be granted hereby; (iii) allow inspection of
the Collateral by Secured Party or Persons designated by Secured Party; and (iv)
appear in and defend any action or proceeding that may affect such Pledgor's
title to or Secured Party's security interest in the Collateral.

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             (b) Each Pledgor hereby authorizes Secured Party to file one or
more financing or continuation statements, and amendments thereto, relative to
all or any part of the Collateral without the signature of such Pledgor where
permitted by law. A carbon, photographic, or other reproduction of this
Agreement or any financing statement covering the Collateral or any part thereof
shall be sufficient as a financing statement where permitted by law.

             (c) Each Pledgor will furnish to Secured Party, upon the request of
Secured Party: (i) a certificate executed by an authorized officer of such
Pledgor, and dated as of the date of delivery to Secured Party, itemizing in
such detail as Secured Party may request, the Collateral which, as of the date
of such certificate, has been delivered to Secured Party by such Pledgor
pursuant to the provisions of this Agreement; and (ii) such statements and
schedules further identifying and describing the Collateral and such other
reports in connection with the Collateral as Secured Party may request.

        7. Covenants of Pledgor. Each Pledgor shall:

             (a) Perform each and every covenant in the Loan Documents
applicable to such Pledgor;

             (b) At all times keep at least one complete set of its records
concerning substantially all of the Collateral at its Chief Executive Office as
set forth in Schedule B hereto, and not change the location of its Chief
Executive Office or such records without giving Secured Party at least thirty
(30) days prior written notice thereof;

             (c) To the extent it may lawfully do so, use its best efforts to
prevent the Issuers from issuing Future Rights or Proceeds, except for cash
dividends and other distributions, if any, that are not prohibited by the terms
of the Loan Agreement to be paid by any Issuer to such Pledgor; and

             (d) Upon receipt by such Pledgor of any material notice, report, or
other communication from any of the Issuers or any Holder relating to all or any
part of the Collateral, deliver such notice, report or other communication to
Secured Party as soon as possible, but in no event later than five (5) days
following the receipt thereof by such Pledgor.

             8. Secured Party as Pledgor's Attorney-in-Fact.

             (a) Each Pledgor hereby irrevocably appoints Secured Party as such
Pledgor's attorney-in-fact, with full authority in the place and stead of such
Pledgor and in the name of such Pledgor, Secured Party or otherwise, from time
to time at Secured Party's discretion, to take any action and to execute any
instrument that Secured Party may reasonably deem necessary or advisable to
accomplish the purposes of this Agreement, including: (i) upon the occurrence
and during the continuance of an Event of Default, to receive, endorse, and
collect all instruments made payable to such Pledgor representing any dividend,
interest payment or other distribution in respect of the Collateral or any part
thereof

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to the extent permitted hereunder and to give full discharge for the same and to
execute and file governmental notifications and reporting forms; (ii) to issue
any notifications/instructions Secured Party deems necessary pursuant to Section
3 of this Agreement; or (iii) to arrange for the transfer of the Collateral on
the books of any of the Issuers or any other Person to the name of Secured Party
or to the name of Secured Party's nominee.

             (b) In addition to the designation of Secured Party as each
Pledgor's attorney-in-fact in subsection (a), each Pledgor hereby irrevocably
appoints Secured Party as such Pledgor's agent and attorney-in-fact to make,
execute and deliver any and all documents and writings which may be necessary or
appropriate for approval of, or be required by, any regulatory authority located
in any city, county, state or country where such Pledgor or any of the Issuers
engage in business, in order to transfer or to more effectively transfer any of
the Pledged Interests or otherwise enforce the rights granted hereunder to
Secured Party.

        9. Remedies upon Default. Upon the occurrence and during the continuance
of an Event of Default:

             (a) Secured Party may exercise in respect of the Collateral, in
addition to other rights and remedies provided for herein or otherwise available
to it, all the rights and remedies of a secured party on default under the Code
(irrespective of whether the Code applies to the affected items of Collateral),
and Secured Party may also without notice (except as specified below) sell the
Collateral or any part thereof in one or more parcels at public or private sale,
at any exchange, broker's board or at any of Secured Party's offices or
elsewhere, for cash, on credit or for future delivery, at such time or times and
at such price or prices and upon such other terms as Secured Party may deem
commercially reasonable, irrespective of the impact of any such sales on the
market price of the Collateral. To the maximum extent permitted by applicable
law, Secured Party may be the purchaser of any or all of the Collateral at any
such sale and shall be entitled, for the purpose of bidding and making
settlement or payment of the purchase price for all or any portion of the
Collateral sold at any such public sale, to use and apply all or any part of the
Secured Obligations as a credit on account of the purchase price of any
Collateral payable at such sale. Each purchaser at any such sale shall hold the
property sold absolutely free from any claim or right on the part of the
applicable Pledgor, and each Pledgor hereby waives (to the extent permitted by
law) all rights of redemption, stay, or appraisal that it now has or may at any
time in the future have under any rule of law or statute now existing or
hereafter enacted. Each Pledgor agrees that, to the extent notice of sale shall
be required by law, at least ten (10) calendar days notice to such Pledgor of
the time and place of any public sale or the time after which a private sale is
to be made shall constitute reasonable notification. Secured Party shall not be
obligated to make any sale of Collateral regardless of notice of sale having
been given. Secured Party may adjourn any public or private sale from time to
time by announcement at the time and place fixed therefor, and such sale may,
without further notice, be made at the time and place to which it was so
adjourned. To the maximum extent permitted by law, each Pledgor hereby waives
any claims against Secured Party arising because the price at which any
Collateral may have been sold at such a private sale was less

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than the price that might have been obtained at a public sale, even if Secured
Party accepts the first offer received and does not offer such Collateral to
more than one offeree.

             (b) Each Pledgor hereby agrees that any sale or other disposition
of the Collateral conducted in conformity with reasonable commercial practices
of banks, insurance companies, or other financial institutions in the City of
Los Angeles, California in disposing of property similar to the Collateral shall
be deemed to be commercially reasonable.

             (c) Each Pledgor hereby acknowledges that the sale by Secured Party
of any Collateral pursuant to the terms hereof in compliance with the Securities
Act of 1933 as now in effect or as hereafter amended, or any similar statute
hereafter adopted with similar purpose or effect (the "Securities Act"), as well
as applicable "Blue Sky" or other state securities laws may require strict
limitations as to the manner in which Secured Party or any subsequent transferee
of the Collateral may dispose thereof. Each Pledgor acknowledges and agrees that
in order to protect Secured Party's interest it may be necessary to sell the
Collateral at a price less than the maximum price attainable if a sale were
delayed or were made in another manner, such as a public offering under the
Securities Act. Each Pledgor has no objection to sale in such a manner and
agrees that Secured Party shall have no obligation to obtain the maximum
possible price for the Collateral. Without limiting the generality of the
foregoing, each Pledgor agrees that, upon the occurrence and during the
continuation of an Event of Default, Secured Party may, subject to applicable
law, from time to time attempt to sell all or any part of the Collateral by a
private placement, restricting the bidders and prospective purchasers to those
who will represent and agree that they are purchasing for investment only and
not for distribution. In so doing, Secured Party may solicit offers to buy the
Collateral or any part thereof for cash, from a limited number of investors
deemed by Secured Party, in its reasonable judgment, to be institutional
investors or other responsible parties who might be interested in purchasing the
Collateral. If Secured Party shall solicit such offers, then the acceptance by
Secured Party of one of the offers shall be deemed to be a commercially
reasonable method of disposition of the Collateral.

             (d) If Secured Party shall determine to exercise its right to sell
all or any portion of the Collateral pursuant to this Section, each Pledgor
agrees that, upon request of Secured Party, such Pledgor will, at its own
expense:

                    (i) use its best efforts to execute and deliver, and cause
the Issuers and the directors and officers thereof to execute and deliver, all
such instruments and documents, and to do or cause to be done all such other
acts and things, as may be necessary or, in the opinion of Secured Party,
advisable to register such Collateral under the provisions of the Securities
Act, and to cause the registration statement relating thereto to become
effective and to remain effective for such period as prospectuses are required
by law to be furnished, and to make all amendments and supplements thereto and
to the related prospectuses which, in the opinion of Secured Party, are
necessary or advisable, all in conformity with the requirements of the
Securities Act and the rules and regulations of the Securities and Exchange
Commission applicable thereto;

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                    (ii) use its best efforts to qualify the Collateral under
the state securities laws or "Blue Sky" laws and to obtain all necessary
governmental approvals for the sale of the Collateral, as requested by Secured
Party;

                    (iii) cause the Issuers to make available to their
respective security holders, as soon as practicable, an earnings statement which
will satisfy the provisions of Section 11(a) of the Securities Act;

                    (iv) execute and deliver, or cause the officers and
directors of the Issuers to execute and deliver, to any person, entity or
governmental authority as Secured Party may choose, any and all documents and
writings which, in Secured Party's reasonable judgment, may be necessary or
appropriate for approval, or be required by, any regulatory authority located in
any city, county, state or country where such Pledgor or the Issuers engage in
business, in order to transfer or to more effectively transfer the Pledged
Interests or otherwise enforce Secured Party's rights hereunder; and

                    (v) do or cause to be done all such other acts and things as
may be necessary to make such sale of the Collateral or any part thereof valid
and binding and in compliance with applicable law.

Each Pledgor acknowledges that there is no adequate remedy at law for failure by
it to comply with the provisions of this Section and that such failure would not
be adequately compensable in damages, and therefore agrees that its agreements
contained in this Section may be specifically enforced.

             (e) EACH PLEDGOR EXPRESSLY WAIVES TO THE MAXIMUM EXTENT PERMITTED
BY LAW: (i) ANY CONSTITUTIONAL OR OTHER RIGHT TO A JUDICIAL HEARING PRIOR TO THE
TIME SECURED PARTY DISPOSES OF ALL OR ANY PART OF THE COLLATERAL AS PROVIDED IN
THIS SECTION; (ii) ALL RIGHTS OF REDEMPTION, STAY, OR APPRAISAL THAT IT NOW HAS
OR MAY AT ANY TIME IN THE FUTURE HAVE UNDER ANY RULE OF LAW OR STATUTE NOW
EXISTING OR HEREAFTER ENACTED; AND (iii) EXCEPT AS SET FORTH IN SUBSECTION (a)
OF THIS SECTION, ANY REQUIREMENT OF NOTICE, DEMAND, OR ADVERTISEMENT FOR SALE.

        10. Application of Proceeds. Upon the occurrence and during the
continuance of an Event of Default, any cash held by Secured Party as Collateral
and all cash proceeds received by Secured Party in respect of any sale of,
collection from, or other realization upon all or any part of the Collateral
pursuant to the exercise by Secured Party of its remedies as a secured creditor
as provided in Section 9 shall be applied from time to time by Secured Party as
provided in the Loan Agreement.

        11. Duties of Secured Party. The powers conferred on Secured Party
hereunder are solely to protect its interests in the Collateral and shall not
impose on it any duty to exercise such powers. Except as provided in Section
9207 of the Code, Secured Party shall

                                     - 11 -
<PAGE>   12

have no duty with respect to the Collateral or any responsibility for taking any
necessary steps to preserve rights against any Persons with respect to any
Collateral.

        12. Choice of Law and Venue. THE VALIDITY OF THIS AGREEMENT, ITS
CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT, AND THE RIGHTS OF THE PARTIES
HERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF CALIFORNIA. THE PARTIES AGREE THAT ALL ACTIONS OR
PROCEEDINGS ARISING IN CONNECTION WITH THIS AGREEMENT SHALL BE TRIED AND
LITIGATED ONLY IN THE STATE AND FEDERAL COURTS LOCATED IN THE COUNTY OF LOS
ANGELES, STATE OF CALIFORNIA OR, AT THE SOLE OPTION OF SECURED PARTY, IN ANY
OTHER COURT IN WHICH SECURED PARTY SHALL INITIATE LEGAL OR EQUITABLE PROCEEDINGS
AND WHICH HAS SUBJECT MATTER JURISDICTION OVER THE MATTER IN CONTROVERSY. EACH
PLEDGOR AND SECURED PARTY WAIVES, TO THE EXTENT PERMITTED UNDER APPLICABLE LAW,
ANY RIGHT EACH MAY HAVE TO ASSERT THE DOCTRINE OF FORUM NON CONVENIENS OR TO
OBJECT TO VENUE TO THE EXTENT ANY PROCEEDING IS BROUGHT IN ACCORDANCE WITH THIS
SECTION 12.

        13. Amendments; Etc. No amendment or waiver of any provision of this
Agreement nor consent to any departure by any Pledgor herefrom shall in any
event be effective unless the same shall be in writing and signed by Secured
Party, and then such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given. No failure on the part of
Secured Party to exercise, and no delay in exercising any right under this
Agreement, any other Loan Document, or otherwise with respect to any of the
Secured Obligations, shall operate as a waiver thereof; nor shall any single or
partial exercise of any right under this Agreement, any other Loan Document, or
otherwise with respect to any of the Secured Obligations preclude any other or
further exercise thereof or the exercise of any other right. The remedies
provided for in this Agreement or otherwise with respect to any of the Secured
Obligations are cumulative and not exclusive of any remedies provided by law.

        14. Notices. Unless otherwise specifically provided herein, any notice
or other communication herein required or permitted to be given shall be in
writing and shall be delivered in the manner set forth in the Loan Agreement.

        15. Continuing Security Interest. This Agreement shall create a
continuing security interest in the Collateral and shall: (i) remain in full
force and effect until the indefeasible payment in full in cash of the Secured
Obligations, including the cash collateralization, expiration, or cancellation
of all Secured Obligations, if any, consisting of letters of credit, and the
full and final termination of any commitment to extend any financial
accommodations under the Loan Agreement; (ii) be binding upon each Pledgor and
its successors and assigns; and (iii) inure to the benefit of Secured Party and
its successors, transferees, and assigns. Upon the indefeasible payment in full
in cash of the Secured

                                     - 12 -
<PAGE>   13

Obligations, including the cash collateralization, expiration, or cancellation
of all Secured Obligations, if any, consisting of letters of credit, and the
full and final termination of any commitment to extend any financial
accommodations under the Loan Agreement, the security interests granted herein
shall automatically terminate and all rights to the Collateral shall revert to
the Pledgors. Upon any such termination, Secured Party will, at the Pledgors'
expense, execute and deliver to the applicable Pledgor such documents as the
Pledgors shall reasonably request to evidence such termination. Such documents
shall be prepared by the Pledgors and shall be in form and substance reasonably
satisfactory to Secured Party.

        16. Security Interest Absolute. To the maximum extent permitted by law,
all rights of Secured Party, all security interests hereunder, and all
obligations of the Pledgors hereunder, shall be absolute and unconditional
irrespective of:

             (a) any lack of validity or enforceability of any of the Secured
Obligations or any other agreement or instrument relating thereto, including any
of the Loan Documents;

             (b) any change in the time, manner, or place of payment of, or in
any other term of, all or any of the Secured Obligations, or any other amendment
or waiver of or any consent to any departure from any of the Loan Documents, or
any other agreement or instrument relating thereto;

             (c) any exchange, release, or non-perfection of any other
collateral, or any release or amendment or waiver of or consent to departure
from any guaranty for all or any of the Secured Obligations; or

             (d) any other circumstances that might otherwise constitute a
defense available to, or a discharge of, a Pledgor.

To the maximum extent permitted by law, each Pledgor hereby waives any right to
require Secured Party to: (A) proceed against or exhaust any security held from
such Pledgor; or (B) pursue any other remedy in Secured Party's power
whatsoever.

        17. Headings. Section and subsection headings in this Agreement are
included herein for convenience of reference only and shall not constitute a
part of this Agreement or be given any substantive effect.

        18. Severability. In case any provision in or obligation under this
Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the
validity, legality and enforceability of the remaining provisions or
obligations, or of such provision or obligation in any other jurisdiction, shall
not in any way be affected or impaired thereby.

        19. Counterparts; Telefacsimile Execution. This Agreement may be
executed in one or more counterparts, each of which shall be deemed an original
and all of which together shall constitute one and the same Agreement. Delivery
of an executed counterpart of this Agreement by telefacsimile shall be equally
as effective as delivery of an original executed counterpart of this Agreement.
Any party delivering an executed counterpart of

                                     - 13 -
<PAGE>   14

this Agreement by telefacsimile also shall deliver an original executed
counterpart of this Agreement but the failure to deliver an original executed
counterpart shall not affect the validity, enforceability, or binding effect
hereof.

        20. Waiver of Marshaling. Each Pledgor and Secured Party acknowledges
and agrees that in exercising any rights under or with respect to the
Collateral: (i) Secured Party is under no obligation to marshal any Collateral;
(ii) may, in its absolute discretion, realize upon the Collateral in any order
and in any manner it so elects; and (iii) may, in its absolute discretion, apply
the proceeds of any or all of the Collateral to the Secured Obligations in any
order and in any manner it so elects. Each Pledgor and Secured Party waive any
right to require the marshaling of any of the Collateral.

        21. Waiver of Jury Trial. EACH PLEDGOR AND SECURED PARTY HEREBY WAIVE
THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED
UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED
HEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL
OTHER COMMON LAW OR STATUTORY CLAIMS. EACH PLEDGOR AND SECURED PARTY REPRESENT
THAT EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS
JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. IN THE EVENT OF
LITIGATION, A COPY OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A
TRIAL BY THE COURT.

        22. Release of Security Interest. Upon the written request of Parent,
Secured Party shall promptly release its security interest in that portion of
the Equity Interests of the Foreign Issuer or 3045207 Nova Scotia Company that
are the subject of a Permitted Disposition permitted by the Loan Agreement and
take all further action that may be necessary or reasonably desireable to
evidence such termination. The foregoing notwithstanding, at no time shall
Secured Party be required to release its security interest in the Equity
Interests of the Foreign Issuer if after giving effect to the Permitted
Disposition Parent ceases to own and control less than 51% of the outstanding
Equity Interests of the Foreign Issuer.

                           [Signature page to follow.]

                                     - 14 -
<PAGE>   15

             IN WITNESS WHEREOF, each Pledgor and Secured Party have caused this
Agreement to be duly executed and delivered by their officers thereunto duly
authorized as of the date first written above.

                                      FUTURELINK CORP.,
                                      a Delaware corporation

                                      By: /s/ COREY E. FISCHER
                                         ---------------------------------------

                                      Title: Vice President
                                            ------------------------------------

                                      FUTURELINK MICRO VISIONS CORP., a Delaware
                                      corporation

                                      By: /s/ COREY E. FISCHER
                                         ---------------------------------------

                                      Title: Vice President
                                            ------------------------------------

                                      FUTURELINK ASYNC CORP.,
                                      a Delaware corporation

                                      By: /s/ COREY E. FISCHER
                                         ---------------------------------------

                                      Title: Vice President
                                            ------------------------------------

                                      FUTURELINK PLEASANTON CORP.,
                                      a Delaware corporation

                                      By: /s/ COREY E. FISCHER
                                         ---------------------------------------

                                      Title: Vice President
                                            ------------------------------------

                                      FUTURELINK MADISON CORP.,
                                      a Delaware corporation

                                      By: /s/ COREY E. FISCHER
                                         ---------------------------------------

                                      Title: Vice President
                                            ------------------------------------

                                      FUTURELINK VSI CORP.,
                                      a Maryland corporation

                                      By: /s/ COREY E. FISCHER
                                         ---------------------------------------

                                      Title: Vice President
                                            ------------------------------------

                                      S-1
<PAGE>   16

                                      FOOTHILL CAPITAL CORPORATION,
                                      a California corporation

                                      By: /s/ WILLIAM SHIAO
                                         ---------------------------------------

                                      Title: Vice President
                                            ------------------------------------

                                      S-2
<PAGE>   17

                                   SCHEDULE A

                                       TO

                             STOCK PLEDGE AGREEMENT

                            Pledgor: FutureLink Corp.

                                Pledged Interests

<TABLE>
<CAPTION>
                                                                               Former Name, if any,    Pledgor's
                                    Number                       Certificate   in which Certificate    Percentage   Jurisdiction of
Issuer                              of Shares       Class        Number(s)           Issued            Ownership     Incorporation
------                              ---------       -----        ---------     --------------------    ---------     -------------
<S>                                 <C>             <C>          <C>           <C>                     <C>          <C>
KNS Holdings Ltd. (FutureLink
Europe Ltd.)                        20,571,429      Ordinary         24                N/A               100%        United Kingdom

FutureLink Pleasanton Corp.
                                    500             Common            2                N/A               100%        Delaware
FutureLink Madison Corp.
                                    100             Common            1                N/A               100%        Delaware
FutureLink Micro Visions Corp
                                    500             Common            2                N/A               100%        Delaware
FutureLink ASYNC Corp.
                                    500             Common            2                N/A               100%        Delaware
</TABLE>

                                      A-1
<PAGE>   18

<TABLE>
<CAPTION>
                                                                               Former Name, if any,    Pledgor's
                                    Number                       Certificate   in which Certificate    Percentage   Jurisdiction of
Issuer                              of Shares       Class        Number(s)           Issued            Ownership     Incorporation
------                              ---------       -----        ---------     --------------------    ---------     -------------
<S>                                 <C>             <C>          <C>           <C>                     <C>          <C>
FutureLink VSI Corp.                100             Common            2                N/A               100%        Maryland

3045207 Nova Scotia Company
                                    100             Common            2                N/A               100%        Nova Scotia,
                                                                                                                       Canada
</TABLE>

                                      A-2
<PAGE>   19

                      Pledgor: FutureLink Pleasanton Corp.

                                Pledged Interests

<TABLE>
<CAPTION>
                                                                 Former Name, if any,
                                                                 in which Certificate      Pledgor's Percentage      Jurisdiction of
Issuer    Number of Shares    Class     Certificate Number(s)    Issued                    Ownership                  Incorporation
------    ----------------    -----     ---------------------    --------------------      --------------------       -------------
<S>       <C>                 <C>       <C>                      <C>                       <C>                       <C>
None                                                                                                                     Delaware
</TABLE>

                        Pledgor: FutureLink Madison Corp.

                                Pledged Interests

<TABLE>
<CAPTION>
                                                                 Former Name, if any,
                                                                 in which Certificate      Pledgor's Percentage      Jurisdiction of
Issuer    Number of Shares    Class     Certificate Number(s)    Issued                    Ownership                  Incorporation
------    ----------------    -----     ---------------------    --------------------      --------------------       -------------
<S>       <C>                 <C>       <C>                      <C>                       <C>                       <C>
None
</TABLE>

                     Pledgor: FutureLink Micro Visions Corp.

                                Pledged Interests

<TABLE>
<CAPTION>
                                                                 Former Name, if any,
                                                                 in which Certificate      Pledgor's Percentage      Jurisdiction of
Issuer    Number of Shares    Class     Certificate Number(s)    Issued                    Ownership                  Incorporation
------    ----------------    -----     ---------------------    --------------------      --------------------       -------------
<S>       <C>                 <C>       <C>                      <C>                       <C>                       <C>
None
</TABLE>

                                      A-3
<PAGE>   20

                         Pledgor: FutureLink ASYNC Corp.

                                Pledged Interests

<TABLE>
<CAPTION>
                                                                 Former Name, if any,
                                                                 in which Certificate      Pledgor's Percentage      Jurisdiction of
Issuer    Number of Shares    Class     Certificate Number(s)    Issued                    Ownership                  Incorporation
------    ----------------    -----     ---------------------    --------------------      --------------------       -------------
<S>       <C>                 <C>       <C>                      <C>                       <C>                       <C>
None
</TABLE>

                          Pledgor: FutureLink VSI Corp.

                                Pledged Interests

<TABLE>
<CAPTION>
                                                                 Former Name, if any,
                                                                 in which Certificate      Pledgor's Percentage      Jurisdiction of
Issuer    Number of Shares    Class     Certificate Number(s)    Issued                    Ownership                  Incorporation
------    ----------------    -----     ---------------------    --------------------      --------------------       -------------
<S>       <C>                 <C>       <C>                      <C>                       <C>                       <C>
None
</TABLE>

                                      A-4
<PAGE>   21

                                   SCHEDULE B

                                       TO

                             STOCK PLEDGE AGREEMENT

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
        NAME                                  STREET                                   CITY             STATE             ZIP
------------------------------------------------------------------------------------------------------------------------------
<S>                                  <C>                                            <C>                <C>               <C>
FutureLink Corp.                     2 South Pointe Drive                           Lake Forest        California        92630

FutureLink Micro Visions             2 South Pointe Drive                           Lake Forest        California        92630

FutureLink VSI Corp.                 6980 Muirkirk Meadows Drive                    Beltsville         Maryland          20705

FutureLink Async Corp.               2065 E West Maple Rd, Ste C-304                Walled Lake        Michigan          48390

FutureLink Madison Corp.             331 Madison Avenue, 6th Floor                  New York           New York          10017

FutureLink Pleasanton Corp.          5976 W Las Positas Blvd, Ste 122               Pleasanton         California        94588
</TABLE>

                                      B-1<PAGE>   1

                                                                   EXHIBIT 10.65

               G E N E R A L  S E C U R I T Y  A G R E E M E N T

                 Debtor:           FutureLink Canada Corp.

                 Secured Party:    Foothill Capital Corporation

<PAGE>   2

                           GENERAL SECURITY AGREEMENT
                                (Business Debtor)

PARTIES

        DEBTOR

Name:                Futurelink Canada Corp.
Address:             2 Gibbs Road

                     Toronto, Ontario   M9B 6L6
Fax No.              (949) 672-3117

        SECURED PARTY

Name:                Foothill Capital Corporation
Address:             2450 Colorado Avenue,
                     Suite 3000 West
                     Santa Monica, California
                     90404

Fax No.              (310) 453-7443

EFFECTIVE DATE

        December 14, 2000 (the "Effective Date")

1.      GRANT OF SECURITY INTEREST

        For valuable consideration (the receipt and sufficiency of which each of
the parties hereto hereby acknowledges) the Debtor hereby grants to the Secured
Party a security interest (to which the Personal Property Security Act (Ontario)
and the regulations thereto, as the same may be amended from time to time (the
"PPSA") applies) in and grants, mortgages and charges as and by way of a fixed
and specific mortgage and charge to and in favour of the Secured Party, all of
the Debtor's rights, title and interests in and to each and every property
described or referred to below (collectively, the "COLLATERAL"), all pursuant to
and in accordance with the provisions of this Agreement.

2.      DESCRIPTION OF COLLATERAL

        The Collateral includes all of the following personal property and
fixtures, and all of the leasehold interests and other property described in
paragraph 2.(j) below,

<PAGE>   3
                                       2

        (a)     all goods now or hereafter comprising part of the inventory of
                the Debtor and all interests, rights and benefits, both present
                and future of the Debtor in or to inventory including, without
                limitation, goods now or hereafter held for sale or lease or
                furnished or to be furnished under a contract of service or that
                are raw materials, work in process or materials used or consumed
                in a business or profession or finished goods;

        (b)     all equipment now or hereafter owned by the Debtor and all
                interests, rights and benefits, both present and future, of the
                Debtor in or to equipment including, without limitation, office,
                warehouse and other furniture, fixtures, machinery, tools,
                rolling stock, vehicles, accessories, spare parts, supplies and
                other tangible personal property;

        (c)     all fixtures now or hereafter owned by the Debtor and all
                interests, rights and benefits, both present and future, of the
                Debtor in or to fixtures;

        (d)     all chattel paper now or hereafter owned or held by the Debtor
                and all interests, rights and benefits, both present and future,
                of the Debtor in, under or to chattel paper;

        (e)     each and every document of title now or hereafter owned by the
                Debtor or of which the Debtor is or becomes a holder, whether
                negotiable or non-negotiable, including, without limitation,
                each and every warehouse receipt and bill of lading, and all
                interests, rights and benefits, both present and future, of the
                Debtor in, under or to each and every document of title;

        (f)     each and every instrument now or hereafter owned by the Debtor
                or of which the Debtor is or becomes a holder, and all
                interests, rights and benefits, both present and future, of the
                Debtor in, under or to each and every instrument;

        (g)     each and every security now or hereafter owned by the Debtor or
                of which the Debtor is or becomes a holder including, without
                limitation, all shares, stocks, warrants, bonds, debentures,
                debenture stock or the like issued by a corporation or other
                person, or a partnership, association or government, and all
                interests, rights and benefits, both present and future, of the
                Debtor in, under or to each and every security;

        (h)     all money of the Debtor and all money hereafter acquired by the
                Debtor and each and every account, debt, claim and demand of
                every nature and kind which is now due, owing or accruing due or
                which may hereafter become due, owing or accruing due to the
                Debtor, or which the Debtor now has or may hereafter have and
                all interests, rights and benefits, both present and future of
                the Debtor in or to each and every account, debt, claim and
                demand including, without limitation, claims against the Crown
                and claims under insurance policies;

        (i)     all patents, industrial designs, trade-marks, trade secrets and
                know-how including without limitation, environmental technology
                and biotechnology, confidential information, trade-names,
                goodwill, copyrights, personality rights, plant breeders'
                rights, integrated circuit topographies, software and all other
                forms of intellectual and industrial property, and any
                registrations and applications for registration of any of the
                foregoing (collectively, "INTELLECTUAL PROPERTY");

<PAGE>   4
                                       3

        (j)     each and every lease, agreement to lease and leasehold interest
                of the Debtor and all interests, rights and benefits, both
                present and future, of the Debtor, in, under or to the same,
                except the last day of any term of years reserved by any such
                lease or agreement therefor of which reversion of one day the
                Debtor shall stand possessed upon trust to assign and dispose of
                the same as the Secured Party shall direct;

        (k)     each and every intangible now or hereafter owned by the Debtor
                or of which the Debtor is or becomes a holder, and all
                interests, rights and benefits, both present and future, of the
                Debtor in, under or to each and every intangible;

        (l)     with respect to the property described in each of subparagraphs
                2.(a) to 2.(k) inclusive, all substitutions and replacements
                thereof, improvements, increases, additions and accessions
                thereto and all interests, rights and benefits, both present and
                future, of the Debtor in, under or to the same;

        (m)     with respect to the property described in each of subparagraphs
                2. (a) to 2.(l) inclusive, identifiable or traceable personal
                property in any form derived directly or indirectly from any
                dealing with such property or the proceeds therefrom and
                includes any payment representing indemnity or compensation for
                loss of or damage to such property or proceeds therefrom; and

        (n)     with respect to the property described in each of subparagraphs
                2.(a) to 2.(m) inclusive, all books, accounts, invoices,
                letters, deeds, contracts, security, securities, instruments,
                bills, notes, writings, papers, documents and records in any
                form evidencing or relating thereto, and all other rights and
                benefits to which the Debtor is now or may hereafter become
                entitled in respect thereof.

        In this Agreement, the words "goods", "inventory", "equipment", "chattel
paper", "document of title", "instrument", "security", "money", "account",
"motor vehicle", "proceeds", "intangible" and "accessions" shall have the same
meanings as their defined meanings in the PPSA. In this Agreement, each
reference to "Collateral" shall, unless the context otherwise requires, include
and be read as "Collateral or any part thereof".

        All of the Collateral, insofar as the same is not intangible property,
is now and will hereafter be kept at the address set out above and at the
locations listed on Schedule A attached hereto.

3.      SECURED OBLIGATIONS

        The security interests, mortgages and charges granted hereby secure all
of the following (collectively, the "OBLIGATIONS"): both the performance and the
payment to the Secured Party of all obligations, debts and liabilities
(including, without limitation, on account of damages) of the Debtor to the
Secured Party, present or future, direct or indirect, absolute or contingent,
liquidated or unliquidated, matured or not, wheresoever and howsoever incurred,

        (a)     whether arising under this or any other agreement (whether
                written or oral), instrument or writing;

        (b)     whether arising from dealings between the Secured Party and the
                Debtor or from other dealings or proceedings by which the
                Secured Party may be or become in any manner whatever a
                creditor, obligee or promisee of the Debtor;

<PAGE>   5
                                       4

        (c)     whether incurred by the Debtor alone or with another or others;

        (d)     whether incurred by the Debtor as principal, surety, indemnitor,
                obligor or promissor; and

        (e)     whether such obligations, debts and liabilities are from time to
                time reduced and thereafter increased or entirely extinguished
                and thereafter incurred again,

        all including, without limitation, all interest, commissions, legal and
other costs, charges and expenses payable in connection with any and all of the
foregoing and, in addition thereto, the Expenses (provided for and defined
below).

4.      ATTACHMENT

        Each of the Debtor and the Secured Party acknowledges and confirms that
the security interests, mortgages and charges granted hereby shall attach:

        (a)     forthwith upon the Effective Date with respect to each and every
                property included in the Collateral and in which the Debtor then
                has rights; and

        (b)     forthwith upon the Debtor first acquiring rights in each and
                every property included in the Collateral and in which the
                Debtor first acquires such rights subsequent to the Effective
                Date.

        For greater certainty, without in any way limiting the above, each of
the Debtor and the Secured Party acknowledges and confirms that they have not
agreed to postpone the time for attachment of the said security interests,
mortgages and charges.

5.      DEBTOR'S WARRANTIES

        The Debtor hereby represents and warrants to and covenants with the
Secured Party as follows and acknowledges that the Secured Party is, in part,
relying upon such representations, warranties and covenants in accepting the
security interests, mortgages and charges granted upon the terms of this
Agreement:

        (a)     Title to Collateral: The Debtor is the absolute and beneficial
                owner of the Collateral and none of the Collateral is held in
                the name of any person other than the Debtor, whether as agent,
                trustee or other nominee for the Debtor, and all registrations
                and filings which may be required to preserve the Debtor's
                title, rights or other interests in the Collateral vis-a-vis
                others have been made.

        (b)     No Encumbrances: The Collateral is and shall at all times be
                kept free and clear of any and all, mortgages, hypothecs,
                pledges, claims, adverse claims, demands, liens, charges,
                security interests, encumbrances, agreements, rights and
                equities of any kind whatsoever other than those given by the
                Debtor to or in favour of Secured Party.

        (c)     Due Authorization: The Debtor has the corporate power and
                capacity to enter into this Agreement and to do all acts and
                things as are required or contemplated hereunder to be done,
                observed and performed by it.

<PAGE>   6
                                       5

        (d)     Right to Grant: The Debtor has taken all necessary corporate
                action to authorize the execution, delivery and performance of
                this Agreement and the Debtor shall at all relevant times have
                the full right, power and authority to perform its obligations
                hereunder and to grant the security interests, mortgages and
                charges as herein provided.

        (e)     No Default: The entering into of this Agreement and the
                performance by the Debtor of its obligations hereunder does not
                and will not contravene, breach or result in any default under
                any agreement to which the Debtor is a party or by which the
                Debtor or any of its properties or assets may be bound and will
                not result in or permit the acceleration of the maturity of any
                indebtedness, liability or obligation of the Debtor under any
                such agreement.

        (f)     No Litigation: Except as disclosed in writing to the Secured
                Party, there is no court, administrative, regulatory or similar
                proceeding (whether civil, quasi-criminal or criminal),
                arbitration or other dispute settlement procedure, investigation
                or enquiry by any government body, or any similar matter or
                proceeding (collectively, "PROCEEDINGS") against or involving
                the Debtor (whether in progress or threatened) which, if
                determined adversely to the Debtor, would adversely affect its
                business, property, financial condition or prospects or its
                ability to perform any of the provisions of this Agreement. No
                event has occurred which might give rise to any proceedings and
                there is no judgment, decree, injunction, rule, award or order
                of any governmental body outstanding against the Debtor which
                has or may have an adverse effect on its business, property,
                financial condition or prospects.

        (g)     Re Intellectual Property: All Intellectual Property applications
                and registrations are valid and in good standing and the Debtor
                is the owner of each of such applications and registrations.

6.      DEBTOR'S COVENANTS

        The Debtor covenants and agrees with the Secured Party that:

        (a)     Obligations: The Debtor shall pay, perform, satisfy, fulfil and
                discharge the Obligations when due.

        (b)     Possession/Description: Forthwith upon request by the Secured
                Party, the Debtor shall deliver possession of the Collateral to
                the Secured Party and shall, if requested by the Secured Party,
                deliver forthwith to the Secured Party such further details
                respecting the Collateral and, if the Collateral includes
                fixtures or crops, or oil, gas or other minerals to be
                extracted, or timber to be cut, identification and legal
                description (in registerable form) of the lands concerned. Such
                further details and legal description so delivered shall be
                deemed to be contained in and form part of this Agreement.

7.      EVENTS OF DEFAULT

<PAGE>   7
                                       6

        Forthwith upon the occurrence of any of the following events (an "EVENT
OF DEFAULT"), the Obligations will, without the Secured Party being required to
give notice or demand, become due and payable in full and, to the extent
applicable, be required to be fully performed:

        (a)     the failure of the Debtor to pay when due any payment of any of
                the Obligations;

        (b)     the failure of the Debtor to perform any of the Obligations;

        (c)     any representation, warranty, statement or report which is false
                or incorrect in any respect having been made or given by the
                Debtor to the Secured Party, whether contained herein or in any
                other agreement (written or oral), instrument or writing;

        (d)     the failure or inability of the Debtor to pay any of its debts
                or liabilities as the same fall due;

        (e)     the occurrence of a default by the Debtor under any agreement,
                instrument or writing entered into by the Debtor with any
                person(s);

        (f)     the Debtor making or agreeing to make an assignment, disposition
                or conveyance, whether by way of sale or otherwise, of its
                assets in bulk;

        (g)     the abandonment by the Debtor of the Collateral or any part
                thereof;

        (h)     the Debtor ceasing or threatening to cease carrying on its
                business or any of its businesses;

        (i)     the Debtor taking any action or commencing any proceeding or any
                action or proceeding being taken or commenced by another person
                or persons against the Debtor in respect of the liquidation,
                dissolution or winding-up of the Debtor, including without
                limitation, any action or proceeding under the Winding Up and
                Restructuring Act, the Business Corporations Act (Ontario), the
                Canada Business Corporations Act or other similar legislation
                whether now or hereinafter in effect;

        (j)     the Debtor taking any action or commencing any proceeding or any
                action or proceeding being taken or commenced by another person
                or persons against the Debtor relating to the reorganization,
                readjustment, compromise or settlement of the debts owed by the
                Debtor to its creditors where such reorganization, readjustment,
                compromise or settlement shall affect a substantial portion of
                the Debtor's assets, including without limitation, the filing of
                a notice of intention to make a proposal or the filing of a
                proposal pursuant to the provisions of the Bankruptcy and
                Insolvency Act, the making of an order under the Companies'
                Creditors Arrangements Act or the commencement of any similar
                action or proceeding by the Debtor or such person or persons;

        (k)     the Debtor committing or threatening to commit any act of
                bankruptcy pursuant to or set out under the provisions of the
                Bankruptcy and Insolvency Act;

        (l)     the filing of a petition for a receiving order against the
                Debtor pursuant to the provisions of the Bankruptcy and
                Insolvency Act;

        (m)     any execution, sequestration or other process of any court or
                other tribunal becoming enforceable against the Debtor or a
                distress or analogous action or proceeding being taken,
                commenced or issued against the Debtor or levied upon

<PAGE>   8
                                       7

                or in respect of the Collateral or any part thereof, or any
                lien, trust claim or any other right or entitlement against or
                in respect of the Collateral or any part thereof becoming
                effective, including, without limitation, a warrant of distress
                of any rent in respect of any premises occupied by the Debtor or
                any premises in or upon which the Collateral or any part thereof
                may at any time be situate;

        (n)     a receiver, receiver and manager, agent, liquidator or other
                similar administrator being appointed in respect of the
                Collateral or any part thereof or the taking by a secured party,
                lien claimant, other encumbrancer, judgement creditor or a
                person asserting similar rights of possession of the Collateral
                or any part thereof;

        (o)     the loss, damage, destruction or confiscation of any part of the
                Collateral, unless upon such event, the Debtor pays to the
                Secured Party forthwith such amount as the Secured Party in its
                absolute and uncontrolled discretion determines is satisfactory;
                and

        (p)     the Secured Party in good faith and having commercially
                reasonable grounds for believing that the ability of the Debtor
                to pay any monies hereby secured or to perform any requirement
                of any provision contained in this Agreement or any other
                agreement (written or oral), instrument or writing heretofore or
                hereafter given by the Debtor to the Secured Party is impaired
                or that the Collateral is in danger of being lost, damaged,
                destroyed or confiscated.

8.      RIGHTS AND REMEDIES

        Forthwith upon the occurrence of an Event of Default, the security
interests, mortgages and charges granted herein shall be enforceable and the
Debtor and the Secured Party shall have, in addition to any other rights and
remedies provided by law, the rights and remedies of a debtor and a secured
party respectively under the PPSA and those provided by this Agreement. In
addition, the Secured Party may take possession of the Collateral and enforce
any rights of the Debtor in respect of the Collateral by any method available in
or permitted by law and may require the Debtor to assemble the Collateral and
deliver or make the Collateral available to the Secured Party at any place as
may be designated by the Secured Party.

9.      EXPENSES

        The reasonable costs and expenses of the Secured Party in the
preparation, execution and delivery of this Agreement, the registration of this
Agreement or of notices, financing statements or other filings in respect
thereof, the reasonable costs and expenses of the Secured Party in connection
with the preparation or review of waivers, consents, amendments, subordination
agreements or other matters pertaining to the subject matter of this Agreement,
the reasonable costs and expenses expressly provided for in the PPSA and, in
addition thereto, the cost of any insurance, taxes, solicitor's fees, costs and
other legal expenses and all other costs, charges and expenses of or incurred
(on a scale as between a solicitor and his own client) by the Secured Party in
respect of any of the foregoing and in respect of the enforcement of the
Obligations, including taking possession, custody, holding, preserving,
protecting, repairing, using or operating, collecting, realizing, processing,
preparing for disposition and disposing of the Collateral (collectively, the
"EXPENSES") shall be payable by the Debtor to the Secured Party forthwith upon
demand, shall be deemed advanced to the Debtor by the Secured Party, shall bear
interest at a

<PAGE>   9
                                       8

rate equal to the Prime Rate (defined below) plus 4% per annum calculated, both
before and after demand, maturity, default and judgment, from the date each of
the Expenses, respectively, was incurred until fully paid by the Debtor and
shall be secured by this Agreement.

        "PRIME RATE" means the annual rate of interest announced from time to
time by Royal Bank of Canada as a reference rate then in effect for determining
interest rates on Canadian dollar commercial loans in Canada.

        The Debtor authorizes the Secured Party to designate, in its sole
discretion, any number of years as the registration period in any financing
statement or financing change statement filed with respect to this Agreement or
any other agreement delivered by the Debtor to the Secured Party ("DESIGNATED
PERIOD").

        The Debtor acknowledges and confirms that:

        (a)     all registration costs in connection with the filing of the
                aforesaid financing statements or financing change statements
                are and shall be reasonable and shall form part of the Expenses;

        (b)     the designation of the number of years comprising the Designated
                Period shall not constitute an acknowledgement by or commitment
                or other obligation of the Secured Party to provide financial
                assistance (whether by loan, agreement or otherwise) to the
                Debtor at any time or from time to time during the Designated
                Period; and

        (c)     the Secured Party shall be entitled to exercise all of its
                rights and remedies provided for in this Agreement forthwith
                upon the occurrence of an Event of Default notwithstanding that
                such Event of Default may occur prior to the expiration of the
                Designated Period.

10.     NOTICE OF DISPOSITION

        Unless not required to do so by applicable law, the Secured Party shall
give to the Debtor at least 15 days written notice of the Secured Party's
intention to dispose of the Collateral. Such notice may be sent by registered
mail to the last known post office address of the Debtor.

11.     RECEIVER - APPOINTMENT

        The Secured Party may take proceedings in any court of competent
jurisdiction for the appointment of a receiver or a receiver and manager (the
"RECEIVER") of the Collateral or of any part thereof or may by instrument in
writing appoint any person to be a receiver of the Collateral or of any part
thereof and may remove any receiver so appointed by the Secured Party and
appoint another in his stead.

12.     RECEIVER - POWERS

        Any receiver appointed hereunder by instrument in writing shall have
power (a) to take possession of the Collateral or any part thereof and, without
liability or obligation to the Debtor,

<PAGE>   10
                                       9

to maintain, preserve and protect the same; (b) to carry on or concur in
carrying on all or any part of the business or businesses of the Debtor; (c) to
borrow money which such receiver, in its sole discretion, determines is required
in connection with either or both of the powers provided for in paragraph (a)
and (b); and (d) to dispose of the Collateral in whole or in part, and any such
disposition may be by public sale (whether by auction, tender or otherwise),
private sale, lease or otherwise, and at such time and place and on such terms
and for such price and manner of payment thereof, all as such receiver may, in
its sole discretion, determine; provided that any such receiver shall be and is
deemed to be the agent of the Debtor and the Secured Party shall not in any way
be responsible for any misconduct, negligence or nonfeasance of any such
receiver.

13.     PROCEEDS OF DISPOSITION/DEFICIENCY

        Any proceeds of any disposition of any of the Collateral shall be
applied by the Secured Party firstly on account of the Expenses, and any balance
of such proceeds shall be applied by the Secured Party on account of the
Obligations (other than the Expenses) in such order of application as the
Secured Party may from time to time effect and the same shall not be subject to
dispute by the Debtor. If such proceeds fail to satisfy the Obligations, the
Debtor shall be liable for the full amount of the deficiency resulting to the
Secured Party.

14.     GENERAL PROVISIONS

        (a)     Discharge: The Debtor shall not be discharged from the
                Obligations by any extension of time, additional advances,
                renewals, amendments or extensions to this Agreement, any waiver
                by or failure of the Secured Party to enforce any provision of
                this Agreement or any other agreement, the taking of further
                security, releasing security, extinguishment of the security
                interests, mortgages and charges as to all or any part of the
                Collateral, or any other act except a release or discharge by
                the Secured Party of the security interests, mortgages and
                charges granted hereby upon the full payment and performance of
                the Obligations, at which time the Secured Party shall, at the
                Debtor's expense, deliver to the Debtor all necessary discharges
                and releases of the security interests, mortgages and charges
                granted hereby.

        (b)     Other Security:

                (i)     The security constituted by this Agreement is in
                        addition to and not in substitution for any other
                        security, guarantee or right from time to time held by
                        the Secured Party;

                (ii)    The Secured Party may realize upon or enforce all or
                        part of any security, guarantee or right from time to
                        time held by it in any order it desires and any
                        realization by any means upon any security, guarantee or
                        right shall not bar realization upon any other security,
                        guarantee or right; and

                (iii)   The taking of any action or proceeding or refraining
                        from so doing or any other dealings with or in respect
                        of any other security, guarantee or right from time to
                        time held by the Secured Party shall not release or
                        affect the security provided for in this Agreement and
                        the taking of the security hereby granted or any
                        proceedings hereunder for the realization of the
                        security

<PAGE>   11
                                       10

                        hereby granted shall not release or affect any other
                        security, guarantee or right from time to time held by
                        the Secured Party.

        (c)     Waiver, etc.: No failure or delay on the part of the Secured
                Party to exercise any right provided for in or contemplated by
                this Agreement and no waiver as to an Event of Default hereunder
                shall operate as a waiver thereof unless made in writing and
                signed by the Secured Party and, in that event, such waiver
                shall operate only as a waiver of the right or Event of Default
                expressly referred to therein. Nothing in this Agreement and
                nothing referred to in the Obligations shall preclude any other
                remedy by action or otherwise for the enforcement of this
                Agreement or the payment and performance in full of the
                Obligations.

        (d)     Secured Party Assignment: All rights and obligations of the
                Secured Party hereunder shall be freely assignable in whole or
                in part without the consent of the Debtor and in any action
                brought by any assignee to enforce such rights, the Debtor shall
                not assert against such assignee any claim, defence, right of
                set-off, or the benefit of any equities which the Debtor now has
                or may hereafter have against the Secured Party.

        (e)     Entire Agreement: This Agreement sets forth the entire intent
                and understanding of the parties relating to the subject matter
                hereof and supersedes and replaces all prior agreements and
                commitments, whether written or oral, made between the parties
                and all earlier discussions and negotiations between them. The
                parties are not relying upon and there are no collateral or
                other representations, warranties, agreements or covenants made
                by any of the parties hereto which are not contained herein.

        (f)     Further Assurances: Each of the parties hereto shall and will,
                from time to time and at all times hereafter upon every
                reasonable written request so to do, make, do, execute and
                deliver, or cause to be made, done, executed and delivered, all
                such further papers, acts, deeds, assurances and things as may
                be necessary or desirable in the opinion of any party or counsel
                for any party, acting reasonably, for implementing and carrying
                out more effectually the true intent and meaning of this
                Agreement including, without limitation, to perfect or better
                perfect the security interests, mortgages and charges of the
                Secured Party in the Collateral or any part thereof.

        (g)     Severability: In the event that any covenant or provision
                contained in this Agreement is held to be invalid, illegal or
                unenforceable in whole or in part, the validity, legality and
                enforceability of the remaining covenants and provisions shall
                not be affected or impaired thereby and all such remaining
                covenants and provisions shall continue in full force and
                effect. All covenants and provisions hereof are declared to be
                separate and distinct covenants or provisions, as the case may
                be.

        (h)     Headings: All headings and titles in this Agreement are for
                convenience of reference only and shall not affect the
                interpretation of the terms hereof.

        (i)     Gender, etc.: In construing this Agreement, all words and
                personal pronouns relating thereto shall be read and construed
                as the number and gender of the party or parties referred to in
                each case require, and the verb agreeing therewith shall be
                construed as agreeing with the required word and pronoun. Words
                such as

<PAGE>   12
                                       11

                "hereunder", "hereto", "hereof", "herein" and other words
                commencing with "here" shall, unless the context clearly
                indicates the contrary, refer to the whole of this Agreement and
                not to any particular paragraph or part thereof.

        (j)     Binding Effect: All rights of the Secured Party hereunder shall
                enure to the benefit of its successors and assigns and all
                obligations of the Debtor hereunder shall bind the Debtor, its
                successors and assigns. Each reference to the Secured Party in
                this Agreement shall be deemed to include a reference to the
                Secured Party, its successors and assigns and each reference to
                the Debtor in this Agreement shall be deemed to include a
                reference to the Debtor, its successors and assigns.

        (k)     Re Liabilities: If more than one person executes this Agreement
                as Debtor, their obligations under this Agreement shall be joint
                and several.

        (l)     Governing Law: This Agreement shall be governed by, and
                interpreted and enforced in accordance with, the laws in force
                in the Province of Ontario and the laws of Canada applicable
                therein and shall be treated in all respects as an Ontario
                contract. Each party irrevocably submits to the non-exclusive
                jurisdiction of the courts of Ontario with respect to any matter
                arising hereunder or related hereto.

        (m)     Notice: Subject to the specific requirements of the PPSA, any
                demand, notice, request, consent, approval or other
                communication required or permitted to be made or given by any
                party hereto to any other party hereto in connection with this
                Agreement shall be in writing and may be made or given by
                personal delivery to such party or by transmittal by facsimile
                transmission or similar electronic means of communication which
                produces a paper record to such party at the fax number noted on
                page 1 of this Agreement or, if a corporation, to a director
                thereof or, if postal services and deliveries are then
                operating, by mailing the same by prepaid registered post to
                such party at its address noted on page 1 of this Agreement or
                at such other address which the party to whom such communication
                is being given may have designated by notice given in accordance
                with the provisions of this paragraph. Any communication so
                delivered or transmitted by electronic means of communication
                shall be deemed to have been given and received on the day of
                delivery or transmittal, if a business day, or if not a business
                day, on the business day next following the day of delivery or
                transmittal, and any communication so mailed shall be deemed to
                have been given and received on the fourth business day
                following and exclusive of the date of mailing. In this
                paragraph, "business day" means any day except a Saturday,
                Sunday or statutory holiday in the Province of Ontario. Either
                party may give notice in writing to the other in the manner
                provided in this paragraph of any change of fax number or
                address of the party giving such notice, and from and after the
                giving of such notice, the fax number or address therein
                specified shall be deemed to be the fax number or address of
                such party for purposes of this paragraph.

        (n)     Failure to Perfect: The Secured Party shall not be liable or
                accountable for any negligence or failure to perfect its
                security interests, mortgages and charges granted herein, seize,
                collect, realize, sell or obtain payment for the Collateral or
                any part thereof and shall not be bound to institute proceedings
                for the purpose of seizing, collecting, realizing or obtaining
                possession or payment of the same for the purpose of preserving
                the rights of the Debtor or any other person, firm or
                corporation in respect of same.

<PAGE>   13
                                       12

        (o)     No Amendment: This Agreement may not be amended, altered or
                qualified except by a memorandum in writing signed by all of the
                parties hereto and any amendment, alteration or qualification
                hereof shall be null and void and shall not be binding upon any
                party who has not signed such memorandum.

        (p)     Power of Attorney: The Secured Party, or any receiver appointed
                hereunder is hereby irrevocably constituted as the duly
                appointed lawful attorney of the Debtor in accordance with the
                Powers of Attorney Act (Ontario), with full power to make, do,
                execute and deliver all such documents, assignments, acts,
                matters or things on behalf of the Debtor with the right to use
                the name of the Debtor whenever and wherever it may be deemed
                necessary or expedient. The power of attorney hereby granted is
                a power coupled with an interest and shall survive the
                dissolution, liquidation, winding-up or other termination of
                existence of the Debtor. The Debtor agrees to and does hereby
                ratify all acts done and all documents executed and delivered by
                the Secured Party pursuant to the power of attorney hereby
                granted and the Debtor hereby confirms that the Secured Party
                and all third parties are entitled to rely upon such
                ratification.

        (q)     Time of Essence: Time shall be strictly of the essence of this
                Agreement and of every part thereof and no extension or
                variation of this Agreement shall operate as a waiver of this
                provision.

        (r)     Debtor's Receipt: The Debtor hereby acknowledges receipt of a
                fully signed copy of this Agreement.

             IN WITNESS WHEREOF the Debtor and the Secured Party have executed
this Agreement under their respective seals and agree to be bound thereby as of
the Effective Date set out above.

THE CORPORATE SEAL of                        )
FUTURELINK CANADA CORP. was                  )
hereunto affixed in the presence of:         )
                                             )    c/s
                                             )
/s/ COREY E. FISCHER                         )
-------------------------------------------- )
Authorized Signatory                         )
                                             )
-------------------------------------------- )
Authorized Signatory                         )

FOOTHILL CAPITAL CORPORATION by              )
its authorized signatories:                  )
                                             )
/s/ WILLIAM SHIAO                            )
-------------------------------------------- )
                                             )
Authorized Signatory                         )
                                             )
-------------------------------------------- )
Authorized Signatory                         )
                                             )

<PAGE>   14
                                       13

                                   SCHEDULE A

                               LOCATIONS IN CANADA

FutureLink Canada Corp.
450 - 4TH Floor, 300 - 3rd Floor,
570 - 5th Floor, 250 - 6th Avenue SW
Bow Valley Square 4
Calgary, AB T2P 3H7

2 Gibbs Road
Toronto, ON M9B 6L6

60 Meg Drive, Unit 11
London, ON N6E 3T6

8585 Decarie, Suite 301
Ville Mont Royal, Quebec
H4P 2J4

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