Document:

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                                                                   Exhibit 10.33

                           LIMITED GUARANTY AGREEMENT
                           --------------------------

     This LIMITED GUARANTY AGREEMENT (this "Guaranty") is made this 14th day of
March, 2000, by WILLIAM P. O'REILLY, an individual resident of the State of
Michigan ("Guarantor"), in favor of PNC BANK, NATIONAL ASSOCIATION, a national
association, in its capacity as collateral and administrative agent (together
with its successors in such capacity, "Agent"), for each of the lenders (the
"Lenders;" collectively with Agent, the "Guaranteed Parties") now or hereafter
parties to the Credit Agreement (as defined below).

                                    Recitals
                                    --------

     Agent and Lenders are parties with ELTRAX SYSTEMS, INC., a Minnesota
corporation, ELTRAX TECHNOLOGY SERVICES GROUP, INC., a Georgia  corporation,
ELTRAX ASP GROUP, LLC, a Georgia limited liability company, SQUIRREL SYSTEMS,
INC., a Georgia corporation, SENERCOMM, INC., a Florida corporation, ELTRAX
CUSTOMER CARE GROUP, INC., a Georgia corporation, ELTRAX INTERNATIONAL, INC., a
Pennsylvania corporation, and ELTRAX HOSPITALITY GROUP, INC., a Georgia
corporation (each a "Debtor" and collectively "Debtors"), to a Revolving Credit
and Security Agreement dated the date hereof (as at any time amended, the
"Credit Agreement"), pursuant to which Lenders have agreed to make loans and
other extensions of credit to or for the benefit of Debtors on the terms and
subject to all of the conditions set forth in the Credit Agreement. Capitalized
terms used in this Guaranty, unless otherwise defined herein, shall have the
meanings ascribed to them in the Credit Agreement.

     A condition to Lenders' extension of any credit to Debtors under the Credit
Agreement is the execution and delivery of this Guaranty by Guarantor.  To
induce Lenders to extend credit to Debtors under the Credit Agreement, Guarantor
has agreed to execute and deliver and be bound by the terms of this Guaranty.

                             Statement of Agreement
                             ----------------------

     FOR TEN DOLLARS ($10.00) in hand paid and in order to induce the Guaranteed
Parties to make loans or extend credit from time to time, to Debtors in
accordance with the terms of the Credit Agreement (as hereinafter defined), and
for other good and valuable consideration, Guarantor hereby unconditionally and
absolutely guarantees to each of the Guaranteed Parties and their respective
successors and assigns the due and punctual payment, performance and discharge
(whether upon stated maturity, demand, acceleration or otherwise in accordance
with the terms thereof) of all such loans and extensions of credit from any
Guaranteed Party to Debtors under the Credit Agreement and all other debts,
liabilities and obligations of Debtors to or held by any Guaranteed Party
(including any portion thereof nominally held by a Guaranteed Party on behalf of
others who have participations or interests therein granted or created by a
Guaranteed Party), whether direct or indirect, absolute or contingent, secured
or unsecured, due or to become due, liquidated or unliquidated, primary or
secondary, joint or several, now existing or hereafter arising, whether created
directly to or acquired by assignment or otherwise by any Guaranteed Party, and
whether any Debtor may be liable individually or jointly with others, and
regardless of whether recovery upon any of such loans or extensions of credit or
other debts, liabilities and obligations becomes barred by any statute of
limitations, is void or voidable under any law relating to fraudulent
obligations or otherwise, or is or becomes invalid or unenforceable for any
other reason (all such debts, liabilities and obligations being hereinafter
referred to collectively as the "Indebtedness"). Without limiting the generality
of the foregoing, the term "Indebtedness" as used herein shall include all
debts, liabilities and obligations incurred by any Debtor to any Guaranteed
Party, including reasonable attorneys' fees, in any bankruptcy case of any
Debtor and any interest, fees or
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other charges accrued in any such bankruptcy whether or not recoverable from
such Debtor or such Debtor's estate under 11 U.S.C. (S) 506. IN NO EVENT,
HOWEVER, SHALL GUARANTOR'S LIABILITY UNDER THIS GUARANTY EXCEED THE SUM OF (A)
$2,800,000, PLUS (B) INTEREST ON THE PRINCIPAL AMOUNT DUE HEREUNDER FROM AND
AFTER THE DATE ON WHICH PAYMENT OF SUCH AMOUNT IS DUE AT THE RATE OF INTEREST
APPLICABLE FROM TIME TO TIME UNDER THE CREDIT AGREEMENT, PLUS (C) THE COSTS AND
ATTORNEYS' FEES INCURRED BY ANY GUARANTEED PARTY IN ENFORCING THE TERMS HEREOF
AND IN COLLECTING THE INDEBTEDNESS OF GUARANTOR HEREUNDER.

     GUARANTOR HEREBY WAIVES: notice of acceptance hereof; notice of the
extension of credit from time to time given by any Guaranteed Party to any
Debtor and the creation, existence or acquisition of any Indebtedness; notice of
the amount of Indebtedness of Debtors to the Guaranteed Parties from time to
time, subject, however, to Guarantor's right to make inquiry of Agent to
ascertain the amount of Indebtedness at any reasonable time; notice of any
adverse change in any Debtor's financial condition or of any other fact which
might increase Guarantor's risk; notice of presentment for payment, demand,
protest and notice thereof as to any instrument; notice of default or
acceleration and all other notices and demands to which Guarantor might
otherwise be entitled; any right Guarantor may have, by statute or otherwise, to
require any Guaranteed Party to institute suit against any Debtor after notice
or demand from Guarantor or to seek recourse first against any Debtor or others,
or to realize upon any security for the Indebtedness, as a condition to
enforcing Guarantor's liability and obligations hereunder; any defense that any
Debtor may at any time assert based upon the statute of limitations, the statute
of frauds, failure of consideration, fraud, bankruptcy, lack of legal capacity,
usury, or accord and satisfaction; any defense that other indemnity, guaranty or
security was to be obtained; any defense or claim that any Person purporting to
bind any Debtor to the payment of Indebtedness did not have actual or apparent
authority to do so; and any right to contest the commercial reasonableness of
the disposition of any or all collateral (to the extent available under
applicable law).  Guarantor further waives any right Guarantor may have, by
statute or otherwise, to any right to appraisement, valuation, stay of
execution, or notice of election to declare due the amount of any indebtedness
of Debtors with regard to any Guaranteed Party's enforcement of any security
interest, lien, mortgage or other interest the Guaranteed Parties may hold in
any real or personal property of any Debtor.  Guarantor further waives and
renounces all homestead and exemption rights provided for by the Constitution
and the laws of the United States and of any state thereof.

     If an Event of Default under (and as defined in) the Credit Agreement shall
occur or if any Debtor should dissolve or become insolvent (within the meaning
of the Georgia Uniform Commercial Code), or if a petition for an order for
relief with respect to any Debtor should be filed by or against any Debtor under
any chapter of the Bankruptcy Code, or if Guarantor shall die, or if a receiver,
trustee or conservator should be appointed for any Debtor or Guarantor or any of
such Debtor's or Guarantor's property, or if any Debtor should default in the
observance or performance of any covenant or agreement with any Guaranteed Party
and such default shall not be cured within any cure period mutually agreed upon
in writing by such Debtor and such Guaranteed Party, or if Debtors shall fail to
pay any of the Indebtedness on the due date thereof (whether due on demand, at
stated maturity, upon acceleration or otherwise), or if Guarantor should revoke
or attempt to revoke this Guaranty or should dispute Guarantor's liability
hereunder, then, in any such event and whether or not any of the Indebtedness is
then due and payable or the maturity thereof has been accelerated or demand for
payment thereof from Debtors has been made, Agent may without notice to
Guarantor  (and shall at the direction of the Required Lenders) make the
Indebtedness immediately due and payable hereunder as to Guarantor and Agent
shall be entitled to enforce the obligations of Guarantor hereunder. Guarantor
agrees to pay all expenses incurred by any Guaranteed Party in connection with
enforcement of any Guaranteed Party's rights under the Guaranty, including court
costs, collection charges and reasonable attorneys' fees.

     Each Guaranteed Party shall have a lien upon or right of set-off to any and
all credits and any and all other property of Guarantor, now or at any time
whatsoever with or in the possession of such Guaranteed

                                      -2-
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Party or anyone holding for such Guaranteed Party as security for any and all
obligations of Guarantor to such Guaranteed Party, no matter how or when arising
and whether under this or any other instrument or agreement or otherwise.

     Guarantor consents and agrees that, without notice to or by Guarantor and
without affecting or impairing the liability or obligations of Guarantor
hereunder, the Guaranteed Parties  may:  compromise or settle, extend the period
of duration or the time for the payment, discharge or performance of any of the
Indebtedness or increase the amount of the Indebtedness; refuse to enforce, or
release any Persons liable for the payment of any of the Indebtedness; increase,
decrease or otherwise alter the rate of interest payable with respect to the
principal amount of any of the Indebtedness or grant other indulgences to any
Debtor in respect thereof; amend or modify in any manner, or terminate or
release, any documents or agreements evidencing, securing or otherwise relating
to the Indebtedness (other than this Guaranty); release, surrender, exchange,
modify or impair any and all collateral, deposits or other property at any time
securing (directly or indirectly) any of the Indebtedness or on which the
Guaranteed Parties at any time may have a lien; extend the time of payment of
any collateral consisting of accounts, notes, chattel paper or other rights to
the payment of money; refuse to enforce its rights or make any compromise or
settlement or agreement therefor, in respect of any and all of such collateral,
deposits and property, or with any party liable for the Indebtedness, or with
any other Person, whatsoever; or release or substitute any one or more of the
endorsers or guarantors of the Indebtedness, whether parties to this instrument
or not.

     Guarantor consents and agrees that the Guaranteed Parties shall be under no
obligation to marshal any assets in favor of Guarantor or against or in payment
of any or all of the Indebtedness.  Guarantor agrees to pay all expenses
incurred by the Guaranteed Parties  in connection with enforcement of the
Guaranteed Parties' rights under this Guaranty, including court costs,
collection charges and reasonable attorneys' fees.  Guarantor further agrees
that, if and to the extent any the Guaranteed Party receives any payment on
account of any of the Indebtedness (whether from any Debtor, Guarantor or a
third party obligor or from the sale or other disposition of any collateral) and
such payment or any part thereof is subsequently invalidated, declared to be
fraudulent or preferential, set aside or required to be repaid to a trustee,
receiver or any other party under any bankruptcy act, state or federal law,
common law or equitable cause, then the part of the Indebtedness intended to be
satisfied shall be revived and continued in full force and effect as if said
payment had not been made.  The foregoing provisions of this paragraph shall
survive the termination or revocation of this Guaranty.

     Guarantor represents, warrants and covenants to the Guaranteed Parties, as
an inducement to the Guaranteed Parties to grant credit to Debtors, that, as of
the date of this Guaranty, the fair saleable value of Guarantor's assets exceeds
Guarantor's liabilities; Guarantor is meeting current liabilities as they
mature; there are not now pending any material court or administrative
proceedings or undischarged judgments against Guarantor and no federal or state
tax liens have been filed or threatened against Guarantor nor is Guarantor in
default or claimed default under any agreement for borrowed money.  Guarantor
shall immediately give Agent written notice of any material adverse change in
Guarantor's financial condition, including litigation commenced, tax liens
filed, defaults claimed under Guarantor's indebtedness for borrowed money or
bankruptcy proceedings commenced against Guarantor or commenced by Guarantor or
by any third party.  Guarantor shall at such reasonable times as Agent requests
furnish Guarantor's current financial statements to Agent and permit Agent or
its representatives to inspect Guarantor's financial records and properties and
make extracts therefrom in order to evaluate the financial condition of
Guarantor.

     This Guaranty is a primary, immediate and original obligation of Guarantor
and is an absolute, unconditional and continuing guaranty of payment of the
Indebtedness and not of its collectibility only, is not contingent upon the
exercise or enforcement by the Guaranteed Parties of any remedies the Guaranteed
Parties may have against any Debtor or others, or the enforcement of any lien or
realization upon any security the Guaranteed Parties may at any time possess,
and shall remain in full force and effect without regard to future changes in
conditions, including change of law or any invalidity or irregularity with
respect

                                      -3-
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to the issuance of any obligations of any Debtor to any Guaranteed Party or with
respect to the execution and delivery of any agreement between Debtors and any
Guaranteed Party. This Guaranty shall be in addition to any other present or
future guaranty or other security for any of the Indebtedness, shall not be
prejudiced or unenforceable by the invalidity of any such other guaranty or
security and is not conditioned upon or subject to the execution by any other
Person of this Guaranty or any other guaranty or suretyship agreement.

     The Guaranteed Parties shall have the right to seek recourse against
Guarantor to the full extent provided for herein and in any other document or
instrument evidencing obligations of Guarantor to the Guaranteed Parties, and
against Debtors to the full extent provided for in any loan agreement among the
Guaranteed Parties and any Debtor.  No election to proceed in one form of action
or proceeding, or against any party, or on any obligation, shall constitute a
waiver of any Guaranteed Party's right to proceed in any other form of action or
proceeding or against other parties unless such Guaranteed Party has expressly
waived such right in writing.

     Guarantor is fully aware of the financial condition of each Debtor.
Guarantor delivers this Guaranty based solely upon Guarantor's own independent
investigation and in no part upon any representation or statement of any
Guaranteed Party with respect thereto.  Guarantor is in a position to and hereby
assumes full responsibility for obtaining any additional information concerning,
each Debtor's financial condition as Guarantor may deem material to Guarantor's
obligations hereunder and Guarantor is not relying upon, nor expecting any
Guaranteed Party to furnish it, any information in such Guaranteed Party's
possession concerning such Debtor's financial condition.  Guarantor hereby
knowingly accepts the full range of risks encompassed within a contract of
"Guaranty," which risks include, without limitation, the possibility that a
Debtor will contract additional indebtedness for which Guarantor may be liable
hereunder after a Debtor's financial condition or ability to pay its lawful
debts when they fall due has deteriorated.

     The books and records of Agent showing the account among the Guaranteed
Parties and Debtors shall be admissible in evidence in any action or proceeding
against or involving Guarantor as prima facie proof of the items therein set
forth, and the monthly statements of Agent rendered to Debtors, to the extent to
which no written objection is made within 30 days from the date of sending
thereof to Debtors, shall be deemed conclusively correct and shall constitute an
account stated between the Guaranteed Parties and Debtors and shall be binding
on Guarantor.

     Guarantor agrees that this Guaranty shall continue in full force and effect
until the date on which all of the Indebtedness has been fully paid and
discharged and all commitments of the Guaranteed Parties  under the Credit
Agreement have been terminated.  Notwithstanding the foregoing, each Guaranteed
Party agrees that Agent shall release Guarantor from this Guaranty and terminate
this Guaranty by delivering the original of this Guaranty to Guarantor marked
satisfied or terminated on any date on which the Guaranty Release Conditions
have been satisfied.  For purposes hereof the term "Guaranty Release Conditions"
shall mean the following conditions:  (i) Agent shall have received a written
request from Guarantor requesting that this Guaranty be released and terminated
by Agent, (ii) Debtors' Undrawn Availability (as defined and calculated in the
Credit Agreement) on the date of Agent's receipt of such written release and
termination request from Guarantor and for the period of fifteen (15)
consecutive days immediately preceding Agent's  receipt of such written release
and termination request from Guarantor shall be and shall have been equal to or
greater than $8,660,000, and (iii) immediately after giving effect to Agent's
release and termination of this Guaranty Debtors' Undrawn Availability (as
defined and calculated in the Credit Agreement) would not be less than
$6,000,000.

     If for any reason any Debtor has no legal existence or is under no legal
obligation to discharge any of the Indebtedness, or if any of the Indebtedness
have become unrecoverable from Debtors by reason of any Debtor's insolvency,
bankruptcy or reorganization or by other operation of law or for any other
reason, this Guaranty shall nevertheless be binding on Guarantor to the same
extent as if Guarantor had at all times been the principal obligor on all such
Indebtedness.  In the event that acceleration of the time for payment of any

                                      -4-
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of the Indebtedness is stayed upon the insolvency, bankruptcy or reorganization
of debt or for any other reason, all such amounts otherwise subject to
acceleration under the terms of any instrument or agreement evidencing or
securing the payment of the Indebtedness or otherwise executed in connection
therewith shall be immediately due and payable by Guarantor.

     If Guarantor shall have any right under applicable law to terminate or
revoke this Guaranty, which right cannot be waived by Guarantor, Guarantor
agrees that such termination or revocation shall not be effective until a
written notice of such termination or revocation, specifically referring to this
Guaranty and signed by Guarantor, is actually received by an officer of Agent
who is familiar with Debtors' account with the Guaranteed Parties and this
Guaranty; but any such termination or revocation shall not affect the right and
power of any Guaranteed Party to enforce rights arising, incurred or contracted
for prior to Agent's receipt of such written notice of termination or
revocation.  If any Guaranteed Party grants loans or other extensions of credit
to or for the benefit of any Debtor or takes other action after the termination
or revocation by Guarantor but prior to Agent's receipt of such written notice
of termination or revocation, then the rights of such Guaranteed Party with
respect thereto shall be the same as if such termination or revocation had not
occurred.

     Guarantor agrees that all the rights, benefits and privileges herein and
hereby conferred upon the Guaranteed Parties shall vest in and be enforceable by
each such Guaranteed Party and its successors and assigns.  Guarantor further
agrees that all obligations and duties herein shall be binding upon Guarantor
and upon Guarantor's heirs, personal representatives, executors, administrators
and assigns.

     To the extent any performance of this Guaranty would violate any applicable
usury statute or other applicable law, the obligation to be fulfilled shall be
reduced to the limit legally permitted, so that this Guaranty shall not require
any performance in excess of the limit legally permitted, but such obligations
shall be fulfilled to the limit of the legal validity.  The provisions of the
paragraph shall control every other provision of this Guaranty.

     This Guaranty is intended to take effect as a sealed instrument under the
laws of the State of Georgia. This Guaranty, all acts and transactions hereunder
and the rights and obligations of the parties hereto shall be governed,
construed and interpreted according to the internal laws of the State of
Georgia. As part of the consideration for the Guaranteed Party's granting credit
to Debtors, Guarantor hereby agrees that all actions, suits or proceedings
arising directly or indirectly hereunder may, at the option of the Guaranteed
Parties, be litigated in any court having situs within the State of Georgia, and
Guarantor hereby expressly consents to the jurisdiction of any state or federal
court located within said state, and consents that any service of process in
such action or proceedings may be made by personal service upon Guarantor
wherever Guarantor may be then located, or by certified or registered mail
directed to Guarantor at Guarantor's last known address.

     This Guaranty expresses the entire understanding of the parties hereto with
respect to the subject matter hereof and may not be changed orally, and no
obligation of Guarantor can be released or waived by the Guaranteed Parties or
any of their respective officers or agents, except by a writing signed by a duly
authorized officer of Agent.

     Until all of the Indebtedness has been paid in full and the Credit
Agreement has been terminated, Guarantor shall have no claim, right or remedy
(whether or not arising in equity, by contract or applicable law) against any
Debtor or any other Person by reason of Guarantor's payment or other performance
hereunder. Without limiting the generality of the foregoing, Guarantor hereby
subordinates to the full and final payment of the Indebtedness any and all legal
or equitable rights or claims that Guarantor may have to reimbursement,
subrogation, indemnity and exoneration and agrees that until all of the
Indebtedness has been paid in full and the Credit Agreement has been terminated,
Guarantor shall have no recourse to any assets or property of any Debtor
(including any assets securing any of the Indebtedness) and no right of recourse
against or contribution from any other Person in any way directly or
contingently liable for any of the

                                      -5-
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Indebtedness, whether any of such rights arise under contract, in equity or
under applicable law. The provisions of this Guaranty shall be supplemental to
and not in derogation of any rights and remedies of any Guaranteed Party or any
affiliate of any Guaranteed Party under any separate subordination agreement
that any Guaranteed Party or such affiliate may at any time or from time to time
enter into with Guarantor.

     As used herein, all references to the term "Guarantor" shall mean Guarantor
and Guarantor's personal representatives and assigns (including any receiver,
trustee or custodian for Guarantor or any of his assets or Guarantor in his
capacity as debtor or debtor-in-possession under the United States Bankruptcy
Code); all references to the term "Guaranteed Parties" shall mean the Guaranteed
Parties and their respective its successors and assigns; and all references to
the term "Debtor" shall mean any Debtor and its successors and assigns
(including any receiver, trustee or custodian for such Debtor or any of his
assets or such Debtor in his capacity as debtor or debtor-in-possession under
the United States Bankruptcy Code); all references to the term "Person" wherever
used herein shall mean any individual, sole proprietorship, partnership,
corporation, business trust, limited liability company, unincorporated
association, joint stock corporation, trust, joint venture or other form of
business entity or any government or any agency or instrumentality or political
subdivision thereof; all references to the plural shall also mean the singular,
and all references to the singular shall also mean the plural; and all
references to "include" or "including" shall mean "including, without
limitation."

     To the fullest extent permitted by applicable law, Guarantor and each
Guaranteed Party each hereby waives the right to a jury trial in any action,
suit, proceeding, or counterclaim arising out of or related to this guaranty,
and Guarantor further waives any rights arising under applicable statutes or
otherwise to require the Guaranteed Parties to institute suit against any Debtor
or any other Person liable for any of the Indebtedness or to exhaust the
Guaranteed Parties' rights and remedies against debtor or any other Person
liable for any of the Indebtedness, Guarantor being bound to the payment of any
and all Indebtedness to the extent provided herein.

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     IN WITNESS WHEREOF, Guarantor has executed this Guaranty, this 14th day of
March, 2000.

                                     /s/  William P. O'Reilly     (SEAL)
---------------------------         ------------------------------
Witness                             William P. O'Reilly ("Guarantor")
Name:
     ----------------------         Social Security No.

                                    Guarantor's Address:

                                      -7-<PAGE>

                                                                   EXHIBIT 10.34

                                PLEDGE AGREEMENT
                                (Bank Deposits)

     This PLEDGE AGREEMENT, dated this 14th day of March, 2000, is made by
WILLIAM P. O'REILLY, an individual resident of the State of Michigan (the
"Pledgor"), with an address at 9 Pine Gate Court, Bloomfield Hills, Michigan
48304, in favor of PNC BANK, NATIONAL ASSOCIATION, a national banking
association, as collateral and administrative agent for Lenders (as identified
below) (together with its successors in such capacity, the "Agent").

                                   Recitals:

     ELTRAX SYSTEMS, INC., a Minnesota corporation ("Eltrax"), various of its
subsidiaries (jointly and severally with Eltrax, the "Borrowers"), the various
financial institutions that are parties thereto from time to time as lenders
("Lenders"), and Agent have entered into a certain Revolving Credit and Security
Agreement dated of even date herewith (together with all amendments thereto, the
"Credit Agreement"), pursuant to which Lenders may from time to time make loans
or extend other financial accommodations to or for the benefit of Borrowers.

     Pursuant to that certain Limited Guaranty Agreement dated the date hereof
of in favor of Agent and Lenders (as at any time amended, the "Guaranty"),
Pledgor has guaranteed the payment and performance to Agent and Lenders of the
Obligations (as hereinafter defined).

     A condition to Lenders' willingness to fund any Loans is Pledgor's
execution and delivery of this Agreement.  To induce Lenders to make loans and
otherwise extend credit pursuant to the Credit Agreement, Pledgor has agreed to
grant a continuing security interest in and to the Collateral (as hereinafter
defined) as security for the timely payment and performance of the Obligations
(as hereinafter defined).

     NOW, THEREFORE, for Ten Dollars ($10.00) in hand paid to Pledgor and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and to secure the timely payment and performance of the Secured
Obligations (as defined below), Pledgor agrees as follows:

     1.   Pledge.  In order to induce the Lenders to extend the Obligations (as
          ------
defined below), the Pledgor hereby grants a security interest in and pledges to
Agent, for its benefit and the ratable benefit of Lenders, and to all other
direct or indirect subsidiaries of PNC Bank Corp., all of the Pledgor's right,
title and interest in and to the accounts, deposits, deposit accounts, and
certificates of deposit, whether negotiable or nonnegotiable, and all security
entitlements of the Pledgor with respect thereto, whether now owned or hereafter
acquired, including those entries on the records of the issuing institution, and
any and all renewals, substitutions, replacements and proceeds and all income,
interest and other distributions thereon maintained in the name of the Pledgor
by the issuing institution, as more fully described on Exhibit A attached hereto
                                                       ---------
and made a part hereof (the "Collateral").

     The Pledgor agrees that (i) Agent shall have the sole and exclusive right
of withdrawal of the Collateral, (ii) until the release of the Guaranty and the
satisfaction of Guaranty Release Conditions (as defined in the Guaranty), the
Pledgor shall have no right of withdrawal of the Collateral, and (iii) Agent may
make appropriate notations in its books and records (electronic or otherwise) to
effectuate the foregoing.

     2.   Obligations Secured.  The Collateral secures payment of all loans,
          -------------------
advances, debts, liabilities, obligations, covenants and duties owing to the
Agent or any Lender or to any other direct or
<PAGE>

indirect subsidiary of PNC Bank Corp. from the Pledgor and from any Borrower, of
any kind or nature, present or future (including any interest accruing thereon
after maturity, or after the filing of any petition in bankruptcy, or the
commencement of any insolvency, reorganization or like proceeding relating to
the Pledgor or any Borrower, whether or not a claim for post-filing or post-
petition interest is allowed in such proceeding), whether or not evidenced by
any note, guaranty or other instrument, whether arising under any agreement,
instrument or document, whether or not for the payment of money, whether arising
by reason of an extension of credit, opening of a letter of credit, loan,
equipment lease or guarantee, under any interest or currency swap, future,
option or other interest rate protection or similar agreement, or in any other
manner, whether arising out of overdrafts on deposit or other accounts or
electronic funds transfers (whether through automated clearing houses or
otherwise) or out of Agent's non-receipt of or inability to collect funds or
otherwise not being made whole in connection with depository transfer check or
other similar arrangements, whether direct or indirect (including those acquired
by assignment or participation), absolute or contingent, joint or several, due
or to become due, now existing or hereafter arising, and any amendments,
extensions, renewals or increases and all costs and expenses of Agent incurred
in the documentation, negotiation, modification, enforcement, collection or
otherwise in connection with any of the foregoing, including reasonable
attorneys' fees and expenses (collectively, the "Obligations").

     3.   Representations and Warranties.  The Pledgor represents and warrants
          ------------------------------
to Agent that (a) no prior lien or encumbrance exists on the Collateral, and the
Pledgor will not grant or suffer to exist any such lien or encumbrance in the
future, and (b) the Pledgor is the legal owner of the Collateral and has the
right to pledge and grant a security interest in the Collateral without the
consent of any other party other than the issuing institution, which the Pledgor
has caused or will cause to execute the Acknowledgment in substantially the form
attached hereto.

     4.   Default.
          -------

          4.1. If any of the following occur (each an "Event of Default"):  (i)
any Event of Default occurs under the Credit Agreement, (ii) any default under
any of the Obligations that does not have a defined set of "Events of Default"
and the lapse of any notice or cure period provided in such Obligations with
respect to such default, (iii) demand by the Agent or Lenders under any of the
Obligations that have a demand feature, (iv) the failure by the Pledgor to
perform any of its obligations hereunder, (v) the falsity, inaccuracy or
material breach by the Pledgor of any written warranty, representation or
statement made or furnished to Agent by or on behalf of the Pledgor, (vi) the
failure of Agent to have a perfected first priority security interest in the
Collateral, (vii) any restriction is imposed on the pledge or transfer of any of
the Collateral after the date of this Agreement without the prior written
consent of Agent, or (viii)  the breach of the Control Agreement (referred to in
Section 6 below), or receipt of notice of termination of the Control Agreement
if no successor custodian acceptable to Agent has executed a Control Agreement
in form and substance acceptable to Agent on or before 10 days prior to the
effective date of the termination, then Agent is authorized in its discretion to
declare any or all of the Obligations to be immediately due and payable without
demand or notice, which are expressly waived, and may exercise any one or more
of the rights and remedies granted pursuant to this Pledge Agreement or given to
a secured party under the Uniform Commercial Code of the applicable state, as it
may be amended from time to time, or otherwise at law or in equity, including
without limitation the right to sell or otherwise dispose of any or all of the
Collateral at public or private sale, with or without advertisement thereof,
upon such terms and conditions as it may deem advisable and at such prices as it
may deem best.

          4.2. Agent is authorized to draw the funds represented by the
Collateral, in whole or in part, and to do all acts necessary to draw such
funds, to apply to all Obligations secured hereby, whether declared immediately
due and payable or otherwise, and the officers of the issuing institution are
authorized and directed to pay the same to Agent on demand.

                                       2
<PAGE>

          4.3. The net proceeds arising from the disposition of the Collateral
after deducting expenses incurred by the Agent will be applied to the
Obligations in accordance with the Credit Agreement. If any excess remains after
the discharge of all of the Obligations, the same will be paid to the Pledgor.
If after exhausting all of the Collateral there is a deficiency, the Pledgor or,
if the Pledgor is not borrowing from Agent or Lenders or providing a guaranty of
the Borrowers' Obligations, the Borrowers will be liable therefor to Agent and
the Lenders; provided, however, that nothing contained herein will obligate
             --------  -------
Agent to proceed against any Borrower or any other party obligated under the
Obligations or against any other collateral for the Obligations prior to
proceeding against the Collateral.

          4.4. If any demand is made at any time upon Agent or any Lender for
the repayment or recovery of any amount received by it in payment or on account
of any of the Obligations and if Agent or such Lender repays all or any part of
such amount by reason of any judgment, decree or order of any court or
administrative body or by reason of any settlement or compromise of any such
demand, the Pledgor will be and remain liable for the amounts so repaid or
recovered to the same extent as if such amount had never been originally
received by Agent.  The provisions of this section will be and remain effective
notwithstanding the release of any of the Collateral by Agent in reliance upon
such payment (in which case the Pledgor's liability will be limited to an amount
equal to the fair market value of the Collateral determined as of the date such
Collateral was released) and any such release will be without prejudice to
Agent's rights hereunder and will be deemed to have been conditioned upon such
payment having become final and irrevocable.  This Section shall survive the
termination of this Pledge Agreement.

     5.   Interest and Premiums.  All interest and premiums declared or paid on
          ---------------------
the Collateral shall be the property of the Pledgor but shall remain as
Collateral, subject to the restrictions contained in this Agreement, unless
released by Agent, in its discretion, following a request from Pledgor.  At any
time after the occurrence of an Event of Default, Agent shall be entitled to
apply all interest and premiums declared or paid on the Collateral in accordance
with the provisions of Section 4 above.

     6.   Securities Account.  If the Collateral includes certificate(s) of
          ------------------
deposit maintained in a securities account, then the Pledgor agrees to cause the
securities intermediary on whose books and records the ownership interest of the
Pledgor in the Collateral appears (the "Custodian") to execute and deliver,
contemporaneously herewith, a notification and control agreement or other
agreement satisfactory to Agent (the "Control Agreement") in order to perfect
and protect Agent's security interest in the Collateral.

     7.   Further Assurances.  At any time and from time to time, upon demand of
          ------------------
Agent, the Pledgor will give, execute, file and record any notice, financing
statement, continuation statement, instrument, document or agreement that Agent
may consider necessary or desirable to create, preserve, continue, perfect or
validate any security interest granted hereunder or to enable Agent to exercise
or enforce its rights hereunder with respect to such security interest.  Without
limiting the generality of the foregoing, the Pledgor hereby irrevocably
appoints Agent as the Pledgor's attorney-in-fact to do all acts and things in
the Pledgor's name that Agent may deem necessary or desirable.  This power of
attorney is coupled with an interest with full power of substitution and is
irrevocable.  Agent is authorized to file financing statements, continuation
statements and other documents under the Uniform Commercial Code relating to the
Collateral without the Pledgor's signature, naming the Pledgor as debtor and
Agent as secured party.

     8.   Notices.  All notices, demands, requests, consents, approvals and
          -------
other communications required or permitted hereunder must be in writing and will
be effective upon receipt to the Pledgor or Agent. Such notices may be hand-
delivered, sent by facsimile transmission with confirmation of delivery and a
copy sent by first-class mail, or sent by nationally recognized overnight
courier service, to a party's address

                                       3
<PAGE>

set forth above or to such other address as either the Pledgor or Agent may give
to the other in writing for such purpose.

     9.   Preservation of Rights.  (a) No delay or omission on Agent's part to
          ----------------------
exercise any right or power arising hereunder will impair any such right or
power or be considered a waiver of any such right or power, nor will Agent's
action or inaction impair any such right or power.  Agent's rights and remedies
hereunder are cumulative and not exclusive of any other rights or remedies which
Agent may have under other agreements, at law or in equity.

          (b) Agent and Lenders may, at any time and from time to time, without
notice to or the consent of the Pledgor or any Borrower unless otherwise
expressly required pursuant to the terms of the Credit Agreement, and without
impairing or releasing, discharging or modifying the Pledgor's liabilities
hereunder, (i) change the manner, place, time or terms of payment or performance
of or interest rates on, or other terms relating to, any of the Obligations;
(ii) renew, substitute, modify, amend or alter, or grant consents or waivers
relating to any of the Obligations, any other pledge or security agreements, or
any security for any Obligations; (iii) apply any and all payments by whomever
paid or however realized including any proceeds of any collateral, to any
Obligations of the Pledgor or the Borrowers in such order, manner and amount as
Agent may determine in its sole discretion; (iv) deal with any other person with
respect to any Obligations in such manner as Agent deems appropriate in its sole
discretion; (v) substitute, exchange or release any security or guaranty; or
(vi) take such actions and exercise such remedies hereunder as provided herein.
The Pledgor and the Borrowers hereby waive (a) presentment, protest, notice of
dishonor and notice of non-payment, and (b) all defenses based on suretyship or
impairment of collateral.

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

     11.  Changes in Writing.  No modification, amendment or waiver of any
          ------------------
provision of this Pledge Agreement nor consent to any departure by the Pledgor
therefrom will be effective unless made in a writing signed by Agent, and then
such waiver or consent shall be effective only in the specific instance and for
the purpose for which given.  No notice to or demand on the Pledgor in any case
will entitle the Pledgor to any other or further notice or demand in the same,
similar or other circumstance.

     12.  Entire Agreement.  This Pledge Agreement (including the documents and
          ----------------
instruments referred to herein) constitutes the entire agreement and supersedes
all other prior agreements and understandings, both written and oral, between
the Pledgor and Agent with respect to the subject matter hereof.

     13.  Successors and Assigns.  This Pledge Agreement will be binding upon
          ----------------------
and inure to the benefit of the Pledgor and Agent and their respective heirs,
executors, administrators, successors and assigns; provided, however, that the
                                                   --------  -------
Pledgor may not assign this Pledge Agreement in whole or in part without Agent's
prior written consent and Agent at any time may assign this Pledge Agreement in
whole or in part.

     14.  Interpretation.  In this Pledge Agreement, unless Agent and the
          --------------
Pledgor otherwise agree in writing, the singular includes the plural and the
plural the singular; references to statutes are to be construed as including all
statutory provisions consolidating, amending or replacing the statute referred
to; the word "or" shall be deemed to include "and/or", the words "including",
"includes" and "include" shall be deemed to be followed by the words "without
limitation."  Section headings in this Pledge Agreement are included for
convenience of reference only and shall not constitute a part of this Pledge
Agreement for any other purpose.

                                       4
<PAGE>

If this Pledge Agreement is executed by more than one party as Pledgor, the
obligations of such persons or entities will be joint and several.

     15.  Indemnity.  The Pledgor agrees to indemnify each of Agent, Lenders,
          ---------
their respective directors, officers and employees and each legal entity, if
any, who controls Agent or any Lender (the "Indemnified Parties") and to hold
each Indemnified Party harmless from and against any and all claims, damages,
losses, liabilities and expenses (including all fees of counsel with whom any
Indemnified Party may consult and all expenses of litigation or preparation
therefor) which any Indemnified Party may incur or which may be asserted against
any Indemnified Party as a result of the execution of or performance under this
Pledge Agreement and under any Control Agreement; provided, however, that the
                                                  --------  -------
foregoing indemnity agreement shall not apply to claims, damages, losses,
liabilities and expenses solely attributable to an Indemnified Party's gross
negligence or willful misconduct.  The indemnity agreement contained in this
Section shall survive the termination of this Pledge Agreement.  The Pledgor may
participate at its expense in the defense of any such claim.

     16.  Governing Law and Jurisdiction.  This Pledge Agreement has been
          ------------------------------
delivered to and accepted by Agent and will be deemed to be made in the State of
Georgia.  This Pledge Agreement will be interpreted and the rights and
liabilities of the Pledgor and Agent determined in accordance with the laws of
the State of Georgia.  The Pledgor hereby irrevocably consents to the exclusive
jurisdiction of any state or federal court in the in the County of Cobb, State
of Georgia; provided that nothing contained in this Pledge Agreement will
prevent Agent from bringing any action, enforcing any award or judgment or
exercising any rights against the Pledgor individually, against any security or
against any property of the Pledgor within any other county, state or other
foreign or domestic jurisdiction.  The Pledgor acknowledges and agrees that the
venue provided above is the most convenient forum for both Agent and the
Pledgor.  The Pledgor waives any objection to venue and any objection based on a
more convenient forum in any action instituted under this Pledge Agreement.

     17.  WAIVER OF JURY TRIAL.  THE PLEDGOR IRREVOCABLY WAIVES ANY AND ALL
          --------------------
RIGHT THE PLEDGOR MAY HAVE TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR CLAIM
OF ANY NATURE RELATING TO THIS PLEDGE AGREEMENT, ANY DOCUMENTS EXECUTED IN
CONNECTION WITH THIS PLEDGE AGREEMENT OR ANY TRANSACTION CONTEMPLATED IN ANY OF
SUCH DOCUMENTS.  THE PLEDGOR ACKNOWLEDGES THAT THE FOREGOING WAIVER IS KNOWING
AND VOLUNTARY.

The Pledgor acknowledges that it has read and understood all the provisions of
this Pledge Agreement, including the waiver of jury trial, and has been advised
by counsel as necessary or appropriate.

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

Witness:

                                        /s/  William P. O'Reilly
---------------------------------   ----------------------------------------
                                    William P. O'Reilly               (SEAL)

Print Name:______________________

                                       5
<PAGE>

                                 ACKNOWLEDGMENT

     The issuing institution acknowledges notification of the foregoing Pledge
Agreement and represents that said assignment and security interest will be
recognized; that it has received no notice of, and has no knowledge of, any
other assignment of, or security interest in any or all of the Collateral that
are on the books and records of the undersigned and subject to the foregoing
Pledge Agreement; that it will not release the Collateral to the Pledgor until
notice of termination of the Pledge Agreement is received from Agent; and that
the Collateral is not subject to any claim for credits, allowance or adjustment
or any set off, defense or counterclaim.  The issuing institution hereby waives,
as against Agent, all such claims for credit, allowance or adjustment, set offs,
defenses and counterclaims, whether now existing or hereafter arising, hereby
subordinates in favor of Agent any other liens or security interests the issuing
institution may have in the Collateral, whether now existing or hereafter
arising, and hereby waives any right to require a court order or indemnity bond
as a condition to the recognition of the Pledge Agreement and payment to Agent.

WITNESS the due execution and sealing hereof this 14th day of March, 2000 with
the intent to be legally bound hereby.

WITNESS/ATTEST:                          ISSUING INSTITUTION:

                                         PNC BANK, NATIONAL ASSOCIATION

-------------------------------------    By:  /s/ Kurt V. Putkonen
                                             ---------------------------------

Print Name:                              Print Name:  Kurt V. Putkonen
           --------------------------               --------------------------

                                         Title:   Vice President
                                                ------------------------------
                                       6
<PAGE>

                                   EXHIBIT A
                              TO PLEDGE AGREEMENT

     Issuer              Dollar Amount             Account Title/Account No.
     ------              -------------             -------------------------

PNC Bank, National        $2,800,000               Certificate of Deposit
Association                                        No. 31900181454

                                       7

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