Document:

MANAGED AGENCY ACCOUNT ASSIGNMENT AGREEMENT

This Managed Agency Account  Assignment  Agreement (the "Agreement") is made and
entered into by and between  Evans &  Sutherland  Computer  Corporation,  a Utah
corporation  ("Principal")  and Zions First  National  Bank, a national  banking
association ("Zions").

                                    RECITALS

         A. Principal has  established a managed agency account at the Trust and
Investment  Management  Department of Zions  ("Managed  Agent"),  managed agency
account  no.  2587850  (the  "Account"),  for  custody  and  control  of certain
securities,  financial assets,  and security  entitlements held thereunder,  and
other investments.  All such property,  including the Account, shall be referred
to herein as "Investment Property."

         B.  Principal has  committed to Zions to pledge as Investment  Property
certain fixed interest  investments with less than 90-day  maturities  (A1/P. or
higher)  held in the  Account  to  secure  amounts  which  may be owing to Zions
consisting of a revolving line of credit, business credit card obligations,  and
all letters of credit issued by Zions for the benefit of Principal together with
all modifications,  renewals,  and extensions of any such credit extensions (the
"Obligations").

         C. Pursuant to paragraph 2.6 of that certain Loan Agreement dated March
31,  2000,  Zions  provided a Letter of Credit  facility  to  Principal  whereby
Principal  could  obtain  the  issuance  of  Letters  of Credit up to a limit of
$7,000,000 (the "$7,000,000 Sublimit").

         D. Principal desired the ability to obtain additional Letters of Credit
in excess of the $7,000,000 Sublimit by as much as $3,000,000.

         E. As a  condition  to  allowing  the  issuance of letters of credit in
excess of the $7,000,000 Letter of Credit Facility,  Zions requires Principal to
assign the Investment  Property in the Account to Zions as collateral during the
term of the Obligations.

         F. Principal and  Zions desire  to enter  into this Agreement to assign
the Investment Property to Zions.

                                    AGREEMENT

         In exchange for good and valuable  consideration,  the  sufficiency and
receipt of which are hereby acknowledged, Principal and Zions agree as follows:

         1. Assignment of Investment Property. Principal hereby assigns to Zions
all of  Principal's  rights  in and to the  Account.  This  assignment  will  be
effective  until all amounts  owing to Zions under the  Obligations  are paid in
full and commitments  for any future  advances under the  Obligations  have been
terminated.   The  Investment  Property  specifically   includes,   but  without
limitation, the following:

<PAGE>

               a. All Investment Property held in the Account or for the benefit
               of  Principal,   including   financial  assets  in  the  name  of
               Principal,   together  with  any  and  all  notes,   instruments,
               certificates, and shares issued in renewal or replacement of such
               Investment Property.

               b. Any and all  Investment  Property  related  shares issued as a
               stock  dividend  or issued in  connection  with any  increase  or
               decrease of  capital,  reclassification,  merger,  consolidation,
               sale of assets,  combination of shares, stock split, spin-off, or
               split-off.

               c. Any and all Investment Property related options,  warrants, or
               rights, whether as an addition to, or in substitution or exchange
               for any of such stock or otherwise.

               d. Any and all  Investment  Property  related  income,  interest,
               profits, rents,  dividends, or distributions,  whether payable in
               cash or in property,  including, without limitation, stock issued
               by any corporation.

Principal  agrees to maintain the balance of Investment  Property in the Account
in a  sufficient  amount so as to be at least  105.26%  of the face value of all
Letters of Credit issued in excess of the $7,000,000  Sublimit up to the maximum
addition available Letters of Credit amount of $3,000,000.  Accordingly,  in the
event that there are no  outstanding  issued  Letters of Credit in excess of the
$7,000,000  Sublimit,  Principal  may  withdraw  some  or all of the  Investment
Property  from the Account  (which  withdrawal  will  decrease or eliminate  the
ability of Principal to obtain the  issuance  additional  Letters of Credit from
Zions in excess of the $7,000,000 Sublimit).

         2. Security Interest. Principal and Zions agree and acknowledge that it
is their intent to, and Principal  does hereby,  grant control of the Investment
Property to Zions under the Utah Uniform  Commercial  Code and create a security
interest in the  Investment  Property.  In  connection  with the granting of the
security  interest,  Principal  agrees to execute  and  deliver to Zions a UCC-1
financing  statement and that Zions may file such  financing  statement with the
Utah  Department of Commerce,  Division of  Corporations  and  Commercial  Code.
Principal  also  directs  and  authorizes  Managed  Agent to (a)  grant to Zions
control of and a security  interest in the Investment  Property and execute such
other agreements required by Zions to effect control,  including agreements with
custodians  of the  Investment  Property  and (b)  execute  and  deliver a UCC-1
financing statement, if the same are required by Zions of Managed Agent.

         3. No Delegation of Duties. Notwithstanding anything to the contrary in
this Agreement,  the assignment of Principal's rights under the Account does not
include, and it is the intent of the parties to this Agreement that Principal is
not delegating and assigning to Zions, any of its obligations  under the Account
and the agreement between Managed Agent and Principal regarding the Account.

                                       2
<PAGE>

         4. Assignment of Account to Principal. Upon the  payment in full of all
amounts owing under the  Obligations  and the termination of any commitments for
future  advances.  Zions agrees to assign back to Principal  all of  Principal's
rights in and to the Investment  Property which are assigned to Zions under this
Agreement.

         5.  Trading  Authority.  In the sole  and  absolute  discretion  of the
department of Zions originating the Loan (the "Lending  Department"),  Principal
may sell the Investment  Property and buy Investment  Property with the proceeds
of any such sales or additional money deposited by Principal into the Collateral
Account.  Trading  activity  shall  be  effected  through  and  by  the  Lending
Department.  As set  forth in  paragraph  no. 11  below,  Principal's  rights to
purchase and sell  Investment  Property held, or to be held, in the Account will
immediately terminate upon the occurrence of a default under this Agreement.

         6. Proceeds of Investment Property.  Principal and Zions agree that all
cash dividends,  stock dividends,  distributions,  interest payments, other cash
payments,  and any other proceeds or benefits received from Investment  Property
will be  retained  in the  Account  until all  amounts  owing to Zions under the
Obligations  are paid in full and any  commitments  for future  advances  of any
Obligations are terminated.  Zions has no obligation to collect any such amounts
owing to Principal or Managed Agent.

         7. |X| /s/ Michael Brough
            --------------------------------------
            Lending Department officer signature
            required for this optional provision

         Investment Property Income. If the preceding line is checked and signed
by an  officer  of the  Lending  Department,  Managed  Agent is  authorized  and
directed to pay to the order of  Principal  all  interest  and  dividend  income
received by Managed Agent on Investment Property.  Such income shall not include
stock  issued  upon  splits  of  Investment  Property,  stock or cash paid as an
extraordinary  dividend,  or  cash  paid  for  surrender  or  upon  maturity  of
Investment Property. Zions retains the right to terminate Principal's receipt of
income hereunder by written notice to Managed Agent and Principal,  which notice
may be hand delivered or sent by facsimile,  and shall be effective upon Managed
Agent's and Principal's receipt thereof.

         8. Further  Assurances.  Principal  agrees to execute and deliver,  and
directs  and  authorizes  Managed  Agent to execute  and  deliver,  to Zions all
documents  requested by Zions in  connection  with the  assignment of Investment
Property  and to  take  all  other  action  reasonably  requested  by  Zions  in
connection  with  such  assignment.  Zions is  authorized  to file,  record,  or
otherwise  utilize such  documents in order to perfect and maintain its security
interest or otherwise carry out the rights and obligations of the parties as set
forth in this Agreement.

         9.  Appointment  As  Attorney  in Fact.  Principal  does  hereby  make,
constitute,  and appoint Zions and its designees as Principal's  true and lawful
attorney  in fact,  with full power of  substitution,  to  transfer  any and all
Investment  Property on the books of issuing  corporations or any transfer agent
to the name of Zions or such other name as designated by Zions. Principal agrees
to give  full  cooperation  and to use its best  efforts  to cause  any  issuer,
transfer agent, or registrar of Investment Property to take all such actions and
to execute all such  documents as may be necessary or  appropriate to effect any
sale, transfer, or other disposition of such Investment Property.

                                       3
<PAGE>

         10. Representations and Warranties.  Principal represents and warrants
the following to Zions that the Investment Property has not  been  assigned, nor
has any interest therein been assigned or pledged to any person or entity other
than Zions.

         11.  Default.  Upon the occurrence of a default under this Agreement or
under any of the Obligations, then, in addition to all other rights and remedies
available to Zions at law, in equity, or by statute,  all of Principal's  rights
under this Agreement will immediately  terminate and Zions may immediately sell,
and direct Managed Agent to sell, all of the Investment  Property.  The proceeds
of the sale of the  Investment  Property will be applied first to the payment of
all expenses incurred by Zions in exercising its rights under this Agreement and
any documents  evidencing or relating to any of the  Obligations,  including all
expenses  incurred by Zions in selling the Investment  Property,  second, to the
payment of the Obligations,  third, to the payment of all other amounts owing by
Principal  to Zions in any manner,  and,  fourth,  the  balance  will be paid to
Principal.

         12.  Disclosure of Agreement.  Principal agrees that Zions may disclose
this Agreement and any and all of the terms and  conditions of this Agreement to
Managed Agent.

         13.  Indemnification.  Principal  agrees to indemnify and hold harmless
Zions, its affiliates (including Managed Agent), officers, directors, employees,
attorneys,  and other  agents from and  against  any and all  claims,  causes of
action, and judgments, of any nature, arising under, or in connection with, this
Agreement,  the assignment of Principal's rights under the Investment  Property,
the sale of any of the  Investment  Property by Zions or Managed Agent after the
occurrence  of a default  under this  Agreement,  or any other claim made by any
person or entity in connection with this Agreement  unless said claim was caused
by the gross negligence or intentional misconduct of Zions. This indemnification
specifically includes,  without limitation, the payment of all expenses incurred
by Zions, including reasonable attorneys fees and expenses.

         14.  Notices.  All notices or demands by any party  hereto  shall be in
writing and may be sent by regular mail.  Notices shall be deemed  received when
deposited  in a  United  States  post  office  box,  postage  prepaid,  properly
addressed to Principal,  Managed Agent, or Zions at the mailing addresses stated
below or to such other addresses as Principal,  Managed Agent, or Zions may from
time to time specify in writing.  Any notice otherwise delivered shall be deemed
to be given when actually received by the addressee.

        Principal:       Evans & Sutherland Computer Corporation
                         600 Komas Drive
                         Salt Lake City, UT  84108
                         Attn: Chief Financial Officer

                         Evans & Sutherland Computer Corporation
                         600 Komas Drive
                         Salt Lake City, UT  84108
                         Attn:  Treasurer

                                       4

<PAGE>

                         Managed Agent:   Trust and Investment Management
                         Zions First National Bank
                         One South Main Street, Suite 660
                         Salt Lake City, UT  84111
                         Attn: Stephen W. Koch

        Zions:           Zions First National Bank
                         Commercial Loan Department
                         P.O. Box 25822
                         One South Main Street, Suite 200
                         Salt Lake City, UT  84125
                         Attn:  Michael R. Brough

         15.  Arbitration Provision.

1.  ARBITRATION  IS FINAL AND  BINDING ON THE  PARTIES  AND SUBJECT TO ONLY VERY
LIMITED REVIEW BY A COURT.
2. IN  ARBITRATION  THE PARTIES  ARE  WAIVING  THEIR RIGHT TO LITIGATE IN COURT,
INCLUDING THEIR RIGHT TO A JURY TRIAL.
3. DISCOVERY IN ARBITRATION IS MORE LIMITED THAN DISCOVERY IN COURT.
4.  ARBITRATORS ARE NOT REQUIRED TO INCLUDE FACTUAL  FINDINGS OR LEGAL REASONING
IN THEIR AWARDS.  THE RIGHT TO APPEAL OR TO SEEK  MODIFICATION  OF  ARBITRATORS'
RULINGS IS VERY LIMITED.
5. A PANEL OF  ARBITRATORS  MIGHT INCLUDE AN ARBITRATOR WHO IS OR WAS AFFILIATED
WITH THE BANKING INDUSTRY.
6. IF YOU  HAVE  QUESTIONS  ABOUT  ARBITRATION,  CONSULT  YOUR  ATTORNEY  OR THE
AMERICAN ARBITRATION ASSOCIATION.

         (a) Any claim or controversy  ("Dispute")  between or among the parties
and their assigns,  including,  but not limited to,  Disputes  arising out of or
relating to this Agreement,  this arbitration provision  ("arbitration clause"),
or any  related  agreements  or  instruments  relating  hereto or  delivered  in
connection herewith ("Related Documents"),  and including, but not limited to, a
Dispute  based on or arising from an alleged  tort,  shall at the request of any
party be resolved  by binding  arbitration  in  accordance  with the  applicable
arbitration rules of the American Arbitration Association (the "Administrator").
The  provisions  of this  arbitration  clause  shall  survive  any  termination,
amendment, or expiration of this Agreement or Related Documents.  The provisions
of this  arbitration  clause shall  supersede  any prior  arbitration  agreement
between or among the parties. If any provision of this arbitration clause should
be  determined to be  unenforceable,  all other  provisions of this  arbitration
clause shall remain in full force and effect.

         (b) The arbitration  proceedings  shall be conducted in Salt Lake City,
Utah, at a place to be determined by the  Administrator.  The  Administrator and
the arbitrator(s) shall have the authority to the extent practicable to take any
action  to  require  the   arbitration   proceeding  to  be  completed  and  the
arbitrator(s)' award issued within one hundred fifty (150) days of the filing of
the Dispute with the Administrator.  The arbitrator(s)  shall have the authority

                                       5
<PAGE>

to impose  sanctions on any party that fails to comply with time periods imposed
by the Administrator or the  arbitrator(s),  including the sanction of summarily
dismissing any Dispute or defense with prejudice.  The arbitrator(s)  shall have
the authority to resolve any Dispute regarding the terms of this agreement, this
arbitration  clause,  or Related  Documents,  including any claim or controversy
regarding the arbitrability of any Dispute.  All limitations  periods applicable
to any Dispute or defense,  whether by statute or agreement,  shall apply to any
arbitration  proceeding hereunder and the arbitrator(s) shall have the authority
to decide whether any Dispute or defense is barred by a limitations  period and,
if so, to  summarily  enter an award  dismissing  any Dispute or defense on that
basis. The doctrines of compulsory  counterclaim,  res judicata,  and collateral
estoppel  shall apply to any  arbitration  proceeding  hereunder so that a party
must  state  as a  counterclaim  in the  arbitration  proceeding  any  claim  or
controversy  which  arises  out of the  transaction  or  occurrence  that is the
subject  matter of the  Dispute.  The  arbitrator(s)  may in the  arbitrator(s)'
discretion  and at the  request  of  any  party:  (1)  consolidate  in a  single
arbitration  proceeding any other claim or controversy  involving  another party
that is substantially  related to the Dispute where that other party is bound by
an arbitration clause with Lender, such as borrowers,  guarantors, sureties, and
owners of collateral;  (2)  consolidate in a single  arbitration  proceeding any
other claim or controversy that is substantially similar to the Dispute; and (3)
administer  multiple  arbitration  claims or  controversies  as class actions in
accordance  with  the  provisions  of  Rule 23 of the  Federal  Rules  of  Civil
Procedure.

         (c) The arbitrator(s) shall be selected in accordance with the rules of
the  Administrator  from  panels  maintained  by  the  Administrator.  A  single
arbitrator  shall have  expertise in the subject  matter of the  Dispute.  Where
three  arbitrators  conduct an  arbitration  proceeding,  the  Dispute  shall be
decided by a majority vote of the three  arbitrators,  at least one of whom must
have  expertise  in the  subject  matter of the Dispute and at least one of whom
must be a practicing  attorney.  The arbitrator(s) shall award to the prevailing
party  recovery  of all costs and fees  (including  attorneys'  fees and  costs,
arbitration  administration  fees  and  costs,  and  arbitrator(s)'  fees).  The
arbitrator(s),  either during the pendency of the  arbitration  proceeding or as
part of the arbitration  award, also may grant provisional or ancillary remedies
including  but not  limited  to an  award  of  injunctive  relief,  foreclosure,
sequestration,  attachment,  replevin,  garnishment,  or  the  appointment  of a
receiver.

         (d)  Judgment  upon an  arbitration  award may be  entered in any court
having jurisdiction,  subject to the following limitation: the arbitration award
is binding  upon the parties  only if the amount  does not exceed  Four  Million
Dollars  ($4,000,000.00);  if the award exceeds that limit, any party may demand
the right to a court trial.  Such a demand must be filed with the  Administrator
within thirty (30) days following the date of the  arbitration  award; if such a
demand is not made within that time period,  the amount of the arbitration award
shall be binding.  The  computation of the total amount of an arbitration  award
shall  include  amounts  awarded  for  attorneys'  fees and  costs,  arbitration
administration fees and costs, and arbitrator(s)' fees.

                                       6
<PAGE>

         (e) No provision of this  arbitration  clause,  nor the exercise of any
rights  hereunder,  shall  limit the right of any party to:  (1)  judicially  or
non-judicially  foreclose  against any real or personal  property  collateral or
other security;  (2) exercise self-help  remedies,  including but not limited to
repossession and setoff rights;  or (3) obtain from a court having  jurisdiction
there over any  provisional or ancillary  remedies  including but not limited to
injunctive   relief,   foreclosure,    sequestration,    attachment,   replevin,
garnishment,  or the appointment of a receiver.  Such rights can be exercised at
any time,  before or during initiation of an arbitration  proceeding,  except to
the extent such action is contrary to the  arbitration  award.  The  exercise of
such rights shall not  constitute a waiver of the right to submit any Dispute to
arbitration, and any claim or controversy related to the exercise of such rights
shall be a Dispute  to be  resolved  under the  provisions  of this  arbitration
clause. Any party may initiate  arbitration with the Administrator;  however, if
any party initiates litigation and another party disputes any allegation in that
litigation,  the disputing party--upon the request of the initiating party--must
file a demand for arbitration with the Administrator and pay the Administrator's
filing fee.  The parties may serve by mail a notice of an initial  motion for an
order of arbitration.

         (f)  Notwithstanding  the  applicability  of  any  other  law  to  this
agreement,  the arbitration  clause,  or  Related Documents between or among the
parties, the Federal  Arbitration  Act, 9 U.S.C.ss.1 et seq., shall apply to the
construction and interpretation of this arbitration clause.

     16. Entire  Agreement.  This  Agreement  constitutes  the entire  agreement
between  Principal and Zions with respect to the  assignment  of the  Investment
Property. This Agreement may not be modified or amended except in writing signed
by both  parties.  All prior and  contemporaneous  oral and  written  agreements
regarding the assignment of the Investment Property are merged herein.

     17. Utah Law Governs.  This Agreement shall be governed by and construed in
accordance with the laws of the state of Utah.

     18. No Third  Party  Beneficiaries.  This  Agreement  is for the benefit of
Zions,  Principal  and the Managed Agent only and is not intended to benefit any
third party.

     19.  Assignment of Agreement.  This Agreement may be assigned by Zions with
the prior consent of Principal. This Agreement may not be assigned by Principal.

         DATED: May 31, 2000.

                                            ZIONS FIRST NATIONAL BANK

                                            By: /s/ Michael Brough
                                               ---------------------------------
                                            Its:  Vice President
                                                 -------------------------------

                                      7

<PAGE>

                                            EVANS & SUTHERLAND COMPUTER
                                            CORPORATION

                                            By: /s/ Richard Gaynor
                                               ---------------------------------
                                            Its:  Vice President

Managed Agent acknowledges receipt of the foregoing and agrees to act consistent
with the foregoing directions of Principal.  Managed Agent will, among all other
acts requested of it, transfer the Investment Property to the Account and accept
entitlement  orders issued by the Loan  Department with regard to the Investment
Property.

                                                TRUST AND INVESTMENT MANAGEMENT
                                                DEPARTMENT OF ZIONS
                                                FIRST NATIONAL BANK

                                                By: /s/  Stephen Koch
                                                --------------------------------

                                                Its: Vice President

                                      8WHEN RECORDED, RETURN TO:

Zions First National Bank
Commercial Loan Department
P.O. Box 25822
One South Main Street
Salt Lake City, Utah  84125
Attention: Michael R. Brough

                       SECOND LOAN MODIFICATION AGREEMENT

     This Second  Loan  Modification  Agreement  (the  "Agreement")  is made and
entered into effective this 30th day of June,  2000 (the "Effective  Date"),  by
and between Evans & Sutherland Computer Corporation,  a Utah corporation,  whose
address is 600 Komas Drive,  Salt Lake City,  Utah 84108  ("Borrower");  Evans &
Sutherland,  GMBH, a German limited  company,  Evans & Sutherland,  Ltd., a U.K.
public limited  company,  and Evans & Sutherland  Graphics  Corporation,  a Utah
corporation  (collectively "Additional Obligors") and Zions First National Bank,
a national banking association,  whose address is P.O. Box 25822, One South Main
Street, Salt Lake City, Utah 84125 ("Lender").

                                    RECITALS

     A. Lender and Borrower  entered into a Loan Agreement  dated March 31, 2000
(the "Loan Agreement"),  whereby Lender agreed to make a loan to Borrower in the
original  principal  amount of Fifteen  Million  Dollars  ($15,000,000.00)  (the
"Loan"),  which Loan is further  evidenced by a Promissory  Note dated March 31,
2000 executed by Borrower for the benefit of Lender,  and which  Promissory Note
is in the original principal amount of $15,000,000.00 (the "Original Note").

     B.  Borrower's  obligations  under the  Original  Note are  secured  by the
collateral described in the following documents:

                  (1) A Trust Deed,  Assignment of Rents, Security Agreement and
Fixture  Filing dated March 31, 2000  executed by  Borrower,  as  "Trustor,"  to
Lender, as "Trustee", for the benefit of Lender, as "Beneficiary," and which was
recorded  in the office of the County  Recorder  of Salt Lake  County,  State of
Utah, on March 31, 2000, as Entry No. 7608227 (the "Trust Deed"). The Trust Deed
encumbers  Borrower's  leasehold  interest in real property located in Salt Lake
County,  State of Utah,  and more  particularly  described in Exhibit A attached
hereto and incorporated herein by this reference (the "Property");

<PAGE>

                  (2) An  Assignment of Leases dated March 31, 2000 entered into
between  Borrower,  as  "Assignor"  and  Lender,  as  "Assignee",  and which was
recorded  in the office of the County  Recorder  of Salt Lake  County,  State of
Utah, on March 31, 2000, as Entry No. 7608229 (the "Assignment of Leases"),  and
which encumbers the Property; and

                  (3) An  Assignment  of Tenant's  Interest in Ground  Lease for
Security dated March 31, 2000 entered into between  Borrower,  as "Borrower" and
Lender, as "Lender", and which was recorded in the office of the County Recorder
of Salt Lake County, State of Utah, on March 31, 2000, as Entry No. 7608228 (the
"Assignment of Ground Lease"), and which encumbers the Property.

     The Loan  Agreement,  Original  Note,  Trust  Deed,  Assignment  of Leases,
Assignment of Ground Lease, and all other documents defined as Loan Documents in
the Loan  Agreement,  are  hereinafter  collectively  referred  to as the  "Loan
Documents".

     C. On or about May 11, 2000,  Lender and Borrower entered into that certain
Modification Agreement and Consent, whereby Lender consented to a particular and
limited waiver of the provisions of Section 5.14 of the Loan Agreement.

     D. On or about May 31, 2000.  Lender and Borrower entered into that certain
Supplemental  Letter of Credit and Reimbursement  Agreement (the "LC Agreement")
and a Managed Agency Account Assignment (the "MAA Assignment"), whereby Borrower
could obtain the issuance of letters of credit beyond the amount  established in
the Loan Agreement,  securing said additional  letters of credit with investment
property held by Lender in the Managed Account  according to the terms set forth
in said documents.

     E. Lender and Borrower now again desire to modify the Loan Documents on the
terms set forth below,  which include among other things the assumption of joint
and several  liability of Borrower's  repayment  obligations  under the Original
Note (as hereby modified), by the Additional Obligors.

                                    AGREEMENT

     In  exchange  for good and  valuable  consideration,  the  sufficiency  and
receipt of which are hereby  acknowledged,  Borrower,  Additional  Obligors  and
Lender agree as follows:

     1.  Reaffirmation  of  the  Trust  Deed.  Borrower  and  Lender  agree  and
acknowledge  that it was their  intention  at the time of the  execution  of the
Trust Deed,  that the Trust Deed encumber the  Property,  and it continues to be
the  intention  of  all  parties   hereto  that  the  Trust  Deed,  as  amended,
supplemented  and  extended,  continue,  without  interruption,  to encumber the
Property.

                                       2
<PAGE>

     2. Renewal Note. In connection with this Agreement, Borrower and Additional
Obligors  agree to  execute  and  deliver  to  Lender a Renewal  and  Substitute
Promissory Note in a form and substance acceptable to Lender dated the Effective
Date,   in  the   original   principal   amount  of  Fifteen   Million   Dollars
($15,000,000.00)  (the "Renewal Note"), which Renewal Note replaces the Original
Note.

     3.  Amendment to Loan  Agreement.  The Loan  Agreement is hereby amended as
follows:

          (a)  Section  1.1.27 of the Loan  Agreement  shall be  deleted  in its
     entirety and replaced with the following:

          1.1.27 "Note" means the Renewal and Substitute  Promissory  Note dated
     June 30, 2000, and executed in connection with the Loan.

          (b) Section  2.2,  Interest  Rate and Payment,  of the Loan  Agreement
     shall be deleted in its entirety and replaced with the following:

               2.2 Interest  Rate and Payment.  The Loan shall be payable on the
          date and upon the terms and conditions set forth in the Note.

          (c) Section  2.3.2,  Quarterly  Fees, of the Loan  Agreement  shall be
     deleted  in its  entirety.  A  one-time  extension  fee  shall  be  paid in
     accordance with paragraph 8(a) below.

          (d) Section  2.6,  Letter of Credit  Facility,  of the Loan  Agreement
     shall be deleted in its entirety and replaced with the following:

               2.6 Letter of Credit Facility.  Borrower is authorized to utilize
          the Loan for the  purpose of  obtaining  the  issuance  of one or more
          letter(s)  of  credit  by  Lender,   up  to  Fifteen  Million  Dollars
          ($15,000,000),  the full original  principal  balance of the Loan, for
          use in Borrower's business operations.  Upon issuance of any letter of
          credit and continuing until the  cancellation or termination  thereof,
          Lender shall  reserve the amount of the letter of credit from the Loan
          proceeds,  which  reserved  amount  shall not be  available  for other
          Borrower draws or advances,  whether or not any claim is actually made
          against  the letter of credit.  Any  amount  reserved  for a letter of
          credit shall not bear interest  unless and until any amounts are drawn
          thereon and then only to the extent of said draws.  In addition to any
          fees assessed under the Letter of Credit Reimbursement Agreement to be
          executed by Borrower with  issuance of any letter of credit,  Borrower
          shall pay to Lender a fee upon the  issuance  of any  letter of credit
          which shall be calculated as follows:

                    (a) Upon the  issuance of any Letter of Credit  issued up to
               the  aggregate  amount of the Loan and  secured  pursuant  to the
               terms of this Loan  Agreement,  Borrower shall pay a fee equal to
               four  percent  (4%) per  annum of the  amount  of said  letter of
               credit.

                                       3
<PAGE>

                    (b) Upon the  issuance  of any  Letter of  Credit  issued by
               Lender in the  aggregate  amount of not more than  $6,000,000  in
               excess of the $15,000,000 Loan amount, which additional Letter of
               Credit is  secured by that  certain  Managed  Account  Assignment
               Agreement dated May 31, 2000 as amended, Borrower shall pay a fee
               equal to two percent  (2%) per annum of the amount of said Letter
               of Credit.

               The  maturity  of any letter of credit  issued  pursuant  to this
          Section  2.6 may extend at the  election of Borrower up to ninety (90)
          days beyond the maturity date of the Loan. However, any such extension
          shall not  effect any  extension  upon any other  obligation  or other
          covenant  under  taken by Borrower  in the Loan  Documents,  except as
          specifically   set   forth  in  those   certain   documents   executed
          concurrently with the issuance of the letter of credit.

          (e) Section 5.13,  Dividends and Loans, of the Loan Agreement shall be
     deleted in its entirety and replaced with the following:

               5.13  Dividends and Loans.  Borrower shall not (a) declare or pay
          any  dividends  except  as  are  mandatorily  required  on  Borrower's
          preferred stock, (b) purchase, redeem, retire or otherwise acquire for
          value any of its capital stock now or hereafter  outstanding in excess
          of $2,000,000.00  for any year, (c) make any distribution of assets to
          its  stockholders,  investors,  or equity  holders,  whether  in cash,
          assets,  or in obligations of Borrower,  (d) allocate or otherwise set
          apart any sum for the payment of any dividend or  distribution  on, or
          for the  purchase,  redemption,  or  retirement  of any  shares of its
          capital stock or equity interests in excess of  $2,000,000.00  for any
          year,  or (e) make any other  distribution  by reduction of capital or
          otherwise  in  respect of any  shares of its  capital  stock or equity
          interests,  in excess of  $250,000.00.  It is  expressly  agreed  upon
          between  Borrower and Lender that this  covenant does not apply to any
          distributions  or  loans  made by  Borrower  to any of the  Additional
          Obligors.

               Borrower  shall  not make any  loans or pay any  advances  of any
          nature  whatsoever  to any person or entity,  except  advances  in the
          ordinary course of business to vendors, suppliers, and contractors. It
          is  expressly  agreed  upon  between  Borrower  and  Lender  that this
          covenant does not apply to any distributions or loans made by Borrower
          to any of the Additional Obligors.

          (f) Based upon Borrower's projected  preliminary financial information
     which has been  disclosed  to Lender prior to and in an effort to avoid any
     event of default under the Loan Documents,  Section 5.15, Net Earnings,  of
     the Loan  Agreement  shall be deleted in its entirety and replaced with the
     following:

                                       4
<PAGE>

               5.15 Maximum Cumulative Year-to-Date Loss. Borrower shall provide
          Lender with evidence  satisfactory to Lender that  Borrower's  maximum
          cumulative   net  year  to  date   operating  loss  before  taxes  and
          extraordinary  gains or  other  income  as of (i) June 30,  2000 is no
          greater than  $38,500,000,  (ii) September 30, 2000 is no greater than
          $40,000,000,   and  (iii)   December  31,  2000  is  no  greater  than
          $40,000,000.

          (g) Based upon Borrower's projected  preliminary financial information
     which has been  disclosed  to lender prior to and in an effort to avoid any
     default under the Loan Documents,  Section 5.16 Net Working Capital, of the
     Loan  Agreement  shall be deleted in its  entirety  and  replaced  with the
     following:

     4. Net Working  Capital.  Borrower  shall achieve and maintain  minimum Net
Working Capital at the end of the second,  third and fourth calendar quarters of
the year  2000 in the  amount  of at least  $60,000,000.  For  purposes  of this
Section 5.16,  net working  capital is defined as adjusted  current  assets less
current  liabilities.  Adjusted current assets is defined as current assets less
that portion of unbilled costs which exceeds the maximum  unbilled costs allowed
in each quarter as shown below, and less all current portions of deferred income
taxes:

<TABLE>
<CAPTION>

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

                                     Second Quarter                Third Quarter              Fourth Quarter
                                          2000                         2000                        2000
------------------------------ ---------------------------- --------------------------- ----------------------------
------------------------------ ---------------------------- --------------------------- ----------------------------
<S>                                   <C>                          <C>                         <C>

Maximum Unbilled Costs                 $70,000,000                  $67,500,000                 $65,000,000
------------------------------ ---------------------------- --------------------------- ----------------------------
</TABLE>

     5. Inclusion of the Renewal Note in the  Indebtedness  Secured by the Trust
Deed. The Trust Deed is hereby amended to include in the indebtedness secured by
the Trust Deed, and any other  obligations of Borrower under and pursuant to the
Loan   Documents,   the  Renewal  Note  (which   replaces  the  Original  Note).
Specifically, the second paragraph on Page 1 of the Trust Deed is hereby amended
to read in its entirety as follows:

          Beneficiary  has  made a loan to  Trustor  in the  amount  of  Fifteen
     Million Dollars  ($15,000,000.00)  (the "Loan"). The Loan is evidenced by a
     Renewal and Substitute Promissory Note dated June 30, 2000, in the original
     principal  amount of the Loan (the "Note").  The Loan will be advanced from
     time to time under a Loan Agreement  between Trustor and Beneficiary  dated
     the Closing Date (the "Loan Agreement").

     6. Amendment to Assignment of Leases. Recital A of the Assignment of Leases
is hereby deleted in its entirety and replaced by the following:

                                       5
<PAGE>

          Pursuant to the Renewal and Substitute  Promissory Note dated June 30,
     2000,  in which  Assignor  appears as  "Borrower"  and Assignee  appears as
     "Lender" and which is in the original  principal  amount of Fifteen Million
     Dollars  ($15,000,000.00)  (the "Note"), and pursuant to the Loan Agreement
     dated the Closing Date wherein  Assignor appears as "Borrower" and Assignee
     appears  as  "Lender"  (the  "Loan  Agreement"),  Assignee  has  loaned the
     proceeds of the Note to Assignor.

     7. Amendment to Assignment of Ground Lease.  Recital A of the Assignment of
Ground Lease is hereby deleted in its entirety and replaced by the following:

          Pursuant to the Renewal and Substitute  Promissory Note dated June 30,
     2000,  in which  Borrower  appears  as  "Borrower"  and  Lender  appears as
     "Lender" and which is in the original  principal  amount of Fifteen Million
     Dollars  ($15,000,000.00)  (the "Note"), and pursuant to the Loan Agreement
     dated the Closing Date wherein  Borrower  appears as "Borrower"  and Lender
     appears  as  "Lender"  (the  "Loan  Agreement"),  Assignee  has  loaned the
     proceeds of the Note to Borrower.

     8.  Amendment to Loan  Documents.  The Loan Documents are hereby amended as
follows:

          (a)  Renewal  Note.  To the  extent  not  otherwise  provided  in this
     Agreement,  the  Loan  Documents  are  hereby  amended  to  include  in the
     indebtedness  secured by the  Collateral  for the Loan  Documents,  and any
     other obligations of Borrower under and pursuant to the Loan Documents, the
     Renewal  Note (which  replaces  the Original  Note).  Lender,  Borrower and
     Additional  Obligors agree and acknowledge that the Renewal Note is secured
     by the Trust Deed, as amended, supplemented and modified.

          (b)  Amendments.   To  the  extent  not  otherwise  provided  in  this
     Agreement,  the Loan Documents are hereby amended to be consistent with all
     of the terms and conditions of this Agreement.

     9. Conditions to Loan  Modification.  This Agreement shall become effective
from and after the satisfaction of each of the following  conditions to Lender's
satisfaction:

          (a) Prior to or  concurrently  with the  execution of this  Agreement,
     Borrower  shall have paid to Lender a loan  extension  fee in the amount of
     $320,000.00, and an amount equal to all legal fees and expenses incurred by
     Lender in connection with this Agreement.

          (b) Borrower  shall have provided  Lender an  endorsement to the Title
     Policy,  which endorsement must be acceptable in form and content to Lender
     and Lender's  counsel and must provide that (1) the Trust Deed continues to
     constitute a first lien against the Property subject only to the exceptions
     to title  listed on  Schedule B - Part I of the Title  Policy;  and (2) the
     Trust Deed, as amended,  supplemented and extended, continues to secure the
     Renewal Note pursuant to this Agreement.

                                       6
<PAGE>

          (c) Borrower and Additional Obligors shall have executed and delivered
     this  Agreement and the Renewal Note to Lender and this  Agreement has been
     recorded in the office of the County Recorder of Salt Lake County, State of
     Utah.

     10. Clarification of terms "Accounts" and "Inventory".  Borrower and Lender
agree and acknowledge  that any and all references to the word "accounts" in the
Trust Deed and other Loan  Documents  was intended and does include all accounts
as defined in the  Uniform  Commercial  Code,  including,  but not  limited  to,
accounts  receivable  of  Borrower.   Borrower  and  Lender  further  agree  and
acknowledge  that any and all  references to the word  "inventory"  in the Trust
Deed and other Loan  Documents  was intended  and does include all  inventory of
Borrower, as defined in the Uniform Commercial Code, including,  but not limited
to, all  inventory  which is not related to the  Property,  except to the extent
that certain inventory is expressly  exempted from the security interest created
in the Loan Documents.

     11. Waiver and Release of Claims. Borrower (i) represents that Borrower has
no defenses to or setoffs against any indebtedness or other  obligations  owning
to Lender  or  Lender's  affiliates,  nor  claims  against  Lender  or  Lender's
affiliates for any matter  whatsoever,  related or unrelated to any indebtedness
or other obligations owing to Lender or Lender's  affiliates,  and (ii) releases
Lender and Lender's affiliates from all claims,  causes of action, and costs, in
law or equity, existing as of the date of this Agreement,  which Borrower has or
may  have  by  reason  of  any  matter  of any  conceivable  kind  or  character
whatsoever,  related or unrelated to any indebtedness or other obligations owing
to  Lender  or  Lender's  affiliates,  including  the  subject  matter  of  this
Agreement.  This provision  shall not apply to claims for performance of express
contractual obligations owing to Borrower by Lender o Lender's affiliates.

     12.  Survival  of  Obligations;  Continuation  of Terms of Loan  Documents.
Lender and Borrower  agree that the Trust Deed,  together with all of Borrower's
obligations  thereunder,  shall, except to the extent expressly modified by this
Agreement,  remain in full force and effect and  survive the  execution  of this
Agreement.  Except  as  expressly  modified  by this  Agreement,  all  terms and
conditions of the Loan Documents shall continue in full force and effect.

     13. Execution of Additional Documents.  Borrower hereby agrees to sign such
further and additional  documents and  instruments as Lender may require to give
full effect to this Agreement.

                                       7
<PAGE>

     14.  Representations,   Warranties,   Covenants  and  Agreements.  Borrower
represents,  warrants,  and agrees that,  except as heretofore  communicated  to
Lender in writing, the representations,  warranties, covenants and agreements of
Borrower  contained in the Loan  Documents  as modified  herein (a) are true and
accurate as of the date of this Agreement,  (b) are hereby remade and reaffirmed
by  Borrower,  and (c) are in  full  force  and  effect  as of the  date of this
Agreement,   enforceable  in  accordance  with  their  terms.  Borrower  further
represents  and warrants  that Borrower is not in default under any of the terms
and conditions of the Loan Documents,  and no conditions  exist which,  with the
passage of time, the giving of notice, or both, would constitute a default under
the Loan Documents.

     15. Defined Terms. Unless otherwise defined in this Agreement,  capitalized
terms hereinafter used have the meaning given them in the Loan Agreement.

     16.  Governing  Law.  This  Agreement  and  all  matters  relating  to this
Agreement shall be governed  exclusively by and construed in accordance with the
applicable laws of the State of Utah.

     17. Integrated Agreement and Subsequent Amendment. This Agreement, the Loan
Documents, the Renewal Note, and the other agreements,  documents,  obligations,
and  transactions   contemplated  by  the  Loan  Agreement  and  this  Agreement
constitute the entire agreement  between Lender and Borrower with respect to the
subject  matter of the  agreements,  and may not be altered or amended except by
written  agreement signed by Lender and Borrower.  PURSUANT TO UTAH CODE SECTION
25-5-4, BORROWER IS NOTIFIED THAT THESE AGREEMENTS ARE A FINAL EXPRESSION OF THE
AGREEMENTS  BETWEEN  LENDER  AND  BORROWER  AND  THESE  AGREEMENTS  MAY  NOT  BE
CONTRADICTED BY EVIDENCE OF ANY ALLEGED ORAL AGREEMENT.

         DATED:   June 30, 2000.

                                     BORROWER

                                     EVANS & SUTHERLAND COMPUTER CORPORATION,
                                     a Utah corporation

                                     By: /s/ Richard J. Gaynor
                                        -----------------------
                                     Richard J. Gaynor
                                     Vice President and Chief Financial Officer

                                     ADDITIONAL OBLIGORS

                                     EVANS & SUTHERLAND, GMBH,
                                     a German limited company

                                     By: /s/ David Janke
                                        -----------------------
                                     David Janke
                                     Its: Managing Director

                                       8
<PAGE>

                                     EVANS & SUTHERLAND, LTD.,
                                     a U.K. public limited company

                                     By: /s/ Stuart Anderson
                                        -----------------------
                                     Stuart Anderson
                                     Its: Managing Director

                                     EVANS & SUTHERLAND GRAPHICS CORPORATION,
                                     a Utah corporation

                                     By: /s/ Mark McBride
                                        -----------------------
                                     Mark McBride
                                     Its: Secretary

                                     LENDER

                                     ZIONS FIRST NATIONAL BANK,
                                     a national banking association

                                     By: /s/ Michael R. Brough
                                        -----------------------
                                     Michael R. Brough
                                     Vice President

                                       9
<PAGE>

STATE OF UTAH                               )
                                            : ss.
COUNTY OF SALT LAKE                         )

     The foregoing instrument was acknowledged before me this day of July, 2000,
by Richard J. Gaynor,  Vice  President  and Chief  Financial  Officer of Evans &
Sutherland Computer Corporation, a Utah corporation.

                                                     NOTARY PUBLIC

My Commission Expires:                               Residing At:

STATE OF UTAH              )
                                    : ss.
COUNTY OF SALT LAKE        )

     The foregoing instrument was acknowledged before me this day of July, 2000,
by David Janke, Managing Director of Evans & Sutherland, GMBH, a German limited
company.

                                                     NOTARY PUBLIC

My Commission Expires:                               Residing At:

                                       10
<PAGE>

STATE OF UTAH              )
                                    : ss.
COUNTY OF SALT LAKE        )

     The foregoing instrument was acknowledged before me this day of July, 2000,
by Stuart Anderson, Managing Director of Evans & Sutherland, Ltd., a U.K. public
limited company.

                                                     NOTARY PUBLIC

My Commission Expires:                               Residing At:

STATE OF UTAH              )
                                    : ss.
COUNTY OF SALT LAKE        )

     The foregoing instrument was acknowledged before me this day of July, 2000,
by Mark McBride,  Secretary of Evans & Sutherland Graphics  Corporation,  a Utah
corporation.

                                                     NOTARY PUBLIC

My Commission Expires:                               Residing At:

                                       11
<PAGE>

STATE OF UTAH              )
                                    :  ss.
COUNTY OF SALT LAKE        )

     The foregoing instrument was acknowledged before me this day of July, 2000,
by Michael R. Brough,  Vice  President of Zions First  National Bank, a national
banking association.

                                                     NOTARY PUBLIC

My Commission Expires:                               Residing At:

                                       12
<PAGE>

                                    EXHIBIT A

                            REAL PROPERTY DESCRIPTION

     The real  property  located in Salt Lake  County,  State of Utah,  and more
particularly described as follows:

                                 [see attached]

                                       A-1

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