Document:

<PAGE>

                                                                     Exhibit 4.4

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO NCO GROUP, INC.
(THE "COMPANY") OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFER IN WHOLE, BUT NOT IN
PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S NOMINEE
AND TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO ON THE REVERSE HEREOF.

<PAGE>

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"). THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
AGREES FOR THE BENEFIT OF THE COMPANY THAT THIS SECURITY MAY NOT BE RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED (X) PRIOR TO THE EXPIRATION OF THE HOLDING
PERIOD UNDER RULE 144(k) (OR ANY SUCCESSOR THERETO) UNDER THE SECURITIES ACT
WHICH IS APPLICABLE TO THIS SECURITY OR (Y) BY ANY HOLDER THAT WAS AN
"AFFILIATE" (WITHIN THE MEANING OF RULE 144 UNDER THE SECURITIES ACT) OF THE
COMPANY AT ANY TIME DURING THE THREE MONTHS PRECEDING THE DATE OF SUCH TRANSFER,
IN EITHER CASE, OTHER THAN (1) TO THE COMPANY, (2) SO LONG AS THIS SECURITY IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT ("RULE
144A"), TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A, PURCHASING FOR ITS OWN
ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS
GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, (3) IN AN OFFSHORE TRANSACTION (AS DEFINED IN REGULATION S UNDER THE
SECURITIES ACT) IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT, (4) TO
AN INSTITUTION THAT IS AN "ACCREDITED INVESTOR" AS DEFINED IN RULE 501(a)(1),
(2), (3) OR (7) UNDER THE SECURITIES ACT ("INSTITUTIONAL ACCREDITED INVESTOR")
THAT IS ACQUIRING THIS SECURITY FOR INVESTMENT PURPOSES AND NOT FOR
DISTRIBUTION, AND THAT, PRIOR TO SUCH TRANSFER, DELIVERS TO THE COMPANY AND THE
TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS
RELATING TO THE RESTRICTIONS ON TRANSFER OF THE SECURITY EVIDENCED HEREBY (THE
FORM OF WHICH LETTER MAY BE OBTAINED FROM THE TRUSTEE), (5) PURSUANT TO AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 (IF
APPLICABLE) UNDER THE SECURITIES ACT OR (6) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH
ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. PRIOR TO A
TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (6) ABOVE),
THE HOLDER OF THIS SECURITY MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE COMPANY
AND THE TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AND, IN THE CASE
OF A TRANSFER PURSUANT TO CLAUSE (5) ABOVE, A LEGAL OPINION AS THEY MAY
REASONABLY REQUIRED TO CONFIRM THAT ANY TRANSFER BY IT OF THIS SECURITY COMPLIES
WITH THE FOREGOING RESTRICTIONS. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
REPRESENTS AND AGREES FOR THE BENEFIT OF THE COMPANY THAT IT IS (1) A QUALIFIED
INSTITUTIONAL BUYER, (2) AN INSTITUTIONAL ACCREDITED INVESTOR AND THAT IT IS
HOLDING THIS SECURITY FOR INVESTMENT PURPOSES AND NOT FOR DISTRIBUTION OR (3)
NOT A U.S. PERSON AND IS OUTSIDE THE UNITED STATES WITHIN THE MEANING OF (OR AN
ACCOUNT SATISFYING THE REQUIREMENTS OF PARAGRAPH (k)(2) OF RULE 902 UNDER)
REGULATION S UNDER THE SECURITIES ACT. IN ANY CASE THE HOLDER HEREOF WILL NOT,
DIRECTLY OR INDIRECTLY, ENGAGE IN ANY HEDGING TRANSACTION WITH REGARD TO THIS
SECURITY OR ANY COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY EXCEPT AS
PERMITTED BY THE SECURITIES ACT.

<PAGE>

                                 NCO GROUP, INC.

Number 1                                                       CUSIP 628858 AC 6

                  4.75% Convertible Subordinated Note Due 2006

         NCO Group, Inc., a Pennsylvania corporation (the "Company"), promises
to pay to Cede & Co. or registered assigns, the principal sum of One Hundred
Twenty Five Million Dollars ($125,000,000) on April 15, 2006 and to pay interest
on the principal amount of this Note beginning the most recent date to which
interest has been paid or, if no interest has been paid, beginning April 4, 2001
at the rate of 4.75% per annum.

Interest Payment Dates:    April 15 and October 15
Record Dates:              April 1 and October 1

         This Note is convertible at such times and as specified on the other
side of this Note. Additional provisions of this Note are set forth on the other
side of this Note.

<PAGE>

         IN WITNESS WHEREOF, the Company has caused this 4.75% Convertible
Subordinated Note due 2006 to be signed by its duly authorized officers.

Dated:  April 4, 2001                       NCO GROUP, INC.

                                            By:
                                                --------------------------------
                                                Name:
                                                Title:

                                            By:
                                                --------------------------------
                                                Name:
                                                Title:

Trustee's Certificate of
Authentication:

Dated:
      ------------------------------------

This is one of the Securities
referred to in the within mentioned
Indenture.

Bankers Trust Company,
  as Trustee

By:
   ---------------------------------------
         Authorized Signatory

<PAGE>

                                 NCO Group, Inc.

                  4.75% Convertible Subordinated Note Due 2006

1. Interest.
   --------

         NCO Group, Inc., a Pennsylvania corporation (the "Company"), promises
to pay interest on the principal amount of this Note at the rate per annum shown
above. The Company shall pay interest semi-annually on April 15 and October 15
of each year, commencing October 15, 2001. Interest on the Notes will accrue
from the most recent date to which interest has been paid or, if no interest has
been paid, from April 4, 2001. Interest will be computed on the basis of a
360-day year of twelve 30-day months.

         The Holder of this Note is entitled to the benefits of the Registration
Rights Agreement, dated April 4, 2001, between the Company and Deutsche Banc
Alex. Brown Inc.

2. Method of Payment.
   -----------------

         The Company will pay interest on this Note (except defaulted interest)
to the person who is the registered Holder of this Note at the close of business
on the April 1 and October 1 next preceding the interest payment date. The
Holder must surrender this Note to the Paying Agent to collect payment of
principal. The Company will pay principal and interest in money of the United
States that at the time of payment is legal tender for payment of public and
private debts. The Company, however, may pay principal and interest by its check
payable in such money. It may mail an interest check to the Holder's registered
address.

3. Paying Agent, Registrar and Conversion Agent.
   --------------------------------------------

         Initially, Bankers Trust Company (the "Trustee") will act as Paying
Agent, Registrar and Conversion Agent. The Company may change any Paying Agent,
Registrar or Conversion Agent without notice to the Holder. The Company or any
of its Subsidiaries may act as Paying Agent, Registrar or Conversion Agent.

4. Indenture; Limitations.
   ----------------------

         This Note is one of a duly authorized issue of Notes of the Company
designated as its 4.75% Convertible Subordinated Notes Due 2006 (the "Notes"),
issued under an Indenture dated as of April 4, 2001 (the "Indenture"), between
the Company and the Trustee. The terms of this Note include those stated in the
Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939 (15 U.S.C. ss.ss. 77aaa-77bbbb), as amended by the Trust
Indenture Reform Act of 1990, as in effect on the date hereof or, from and after
the date that the Indenture shall be qualified thereunder, as in effect on such
date. This Note is subject to all such terms, and the holder of this Note is
referred to the Indenture and said Act for a statement of them.
<PAGE>

         The Notes are subordinated unsecured obligations of the Company limited
to up to $125,000,000 aggregate principal amount.

5. Optional Redemption.
   -------------------

         The Notes may be redeemed at the Company's option, in whole or in part,
at any time and from time to time on and after April 22, 2004 (an "Optional
Redemption") if the Closing Price of the Company's Common Stock for 20 Trading
Days (as defined in the Indenture) in a period of 30 consecutive Trading Days
ending on the Trading Day prior to the date of mailing of the notice of
redemption exceeds 120% of the Conversion Price (as defined below) of the Notes.
The redemption price for the Notes, expressed as a percentage of the principal
amount, is as follows for the 12-month periods set forth below:

     --------------------------------------------------------------
     Redemption Period                                  Percentage
     --------------------------------------------------------------
     April 22, 2004 through April 14, 2005..................102.0%
     April 15, 2005 through April 14, 2006..................101.0%
     --------------------------------------------------------------

together in the case of any such redemption with accrued and unpaid interest to
the date of redemption, but any interest payment that is due and payable on or
prior to such date of redemption will be payable to the Holders of such Notes,
or one or more predecessor Notes, of record at the close of business on the
relevant record dates referred to on the face hereof, all as provided in the
Indenture.

6. Notice of Redemption.
   --------------------

         Notice of redemption will be mailed by first class mail at least 30
days prior to the redemption date in the case of an Optional Redemption to each
Holder of Notes to be redeemed at his registered address. Notes in denominations
larger than $1,000 may be redeemed in part, but only in whole multiples of
$1,000. On and after the redemption date, subject to the deposit with the Paying
Agent of funds sufficient to pay the redemption price, interest ceases to accrue
on Notes or portions of them called for redemption.

7. Repurchase of Notes at Option of Holder upon a Change in Control.
   ----------------------------------------------------------------

         If at any time that Notes remain outstanding there shall have occurred
a Change in Control (as defined in the Indenture), at the option of the Holder
and subject to the terms and conditions of the Indenture, the Company shall
become obligated to repurchase all or any part specified by the Holder (so long
as the principal amount of such part is $1,000 or an integral multiple thereof)
of the Notes held by such Holder on the Repurchase Date. The Holder shall have
the right to withdraw any Repurchase Notice by delivering a written notice of
withdrawal to the Paying Agent in accordance with the terms of the Indenture.
The Repurchase Price is payable in cash.
<PAGE>

8. Conversion.
   ----------

         At any time after 90 days following the latest date of original
issuance of the Notes and prior to the close of business on the Business Day
immediately preceding April 15, 2006, a Holder of a Note may convert such Note
into shares of Common Stock of the Company; provided, however, that if the Note
is called for redemption, the conversion right will terminate at the close of
business on the Business Day before the redemption date of such Note (unless the
Company shall default in making the redemption payment when due, in which case
the conversion right shall terminate at the close of business on the date such
default is cured and such Note is redeemed). The initial conversion price is
$32.92 per share, subject to adjustment under certain circumstances as described
in the Indenture (the "Conversion Price"). The number of shares issuable upon
conversion of a Note is determined by dividing the principal amount converted by
the Conversion Price in effect on the conversion date. Upon conversion, no
adjustment for interest or dividends will be made. No fractional shares will be
issued upon conversion; in lieu thereof, an amount will be paid in cash based
upon the current market price (as defined in the Indenture) of the Common Stock
on the last trading day prior to the date of conversion.

         To convert a Note, a Holder must (a) complete and sign the conversion
notice set forth below and deliver such notice to the Conversion Agent, (b)
surrender the Note to the Conversion Agent, (c) furnish appropriate endorsements
and transfer documents if required by the Registrar or the Conversion Agent, (d)
pay any transfer or similar tax, if required and (e) if the Note is held in
book-entry form, complete and deliver to the Depositary appropriate instructions
pursuant to the Depositary's book-entry conversion programs. If a Holder
surrenders a Note for conversion between the close of business on any record
date for the payment of an installment of interest and the opening of business
on the next interest payment date, the Note must be accompanied by payment of an
amount equal to the interest payable on such interest payment date on the
principal amount of the Note or portion thereof then converted; provided,
however, that no such payment shall be required if such Note has been called for
redemption on a redemption date within the period between and including such
record date and such interest payment date, or if such Note is surrendered for
conversion after the opening of business on the interest payment date. A Holder
may convert a portion of a Note equal to $1,000 or any integral multiple
thereof.

         A Note in respect of which a Holder had delivered a Repurchase Notice
exercising the option of such Holder to require the Company to repurchase such
Note may be converted only if the notice of exercise is withdrawn as provided
above and in accordance with the terms of the Indenture.

9. Subordination.
   -------------

         The indebtedness evidenced by the Notes is, to the extent and in the
manner provided in the Indenture, subordinate and junior in right of payment to
the prior payment in full of all Senior Indebtedness of the Company, as defined
in the Indenture. Any Holder by accepting this Note agrees to and shall be bound
by such subordination provisions and authorizes the Trustee to give them effect.

         In addition to all other rights of Senior Indebtedness described in the
Indenture, the Senior Indebtedness shall continue to be Senior Indebtedness and
entitled to the benefits of the subordination provisions irrespective of any
amendment, modification or waiver of any terms of any instrument relating to the
Senior Indebtedness or any extension or renewal of the Senior Indebtedness.
<PAGE>

10. Denominations, Transfer, Exchange.
    ---------------------------------

         The Notes are in registered form without coupons in denominations of
$1,000 and integral multiples thereof. A Holder may register the transfer of or
exchange Notes in accordance with the Indenture. The Registrar may require a
Holder, among other things, to furnish appropriate endorsements and transfer
documents and to pay any taxes or other governmental charges that may be imposed
by law or permitted by the Indenture.

         The aggregate principal amount of the Note in global form represented
hereby may from time to time be reduced to reflect conversions or redemptions of
a part of this Note in global form or cancellations of a part of this Note in
global form, in each case, and in any such case, by means of notations on the
Global Note Transfer Schedule on the last page hereof. Notwithstanding any
provision of this Note to the contrary, conversions or redemptions of a part of
this Note in global form and cancellations of a part of this Note in global
form, may be effected without the surrendering of this Note in global form,
provided that appropriate notations on the Schedule of Exchanges, Conversions,
Redemptions, Cancellations and Transfers are made by the Trustee, or the
Custodian at the direction of the Trustee, to reflect the appropriate reduction
or increase, as the case may be, in the aggregate principal amount of this Note
in a global form resulting therefrom or as a consequence thereof.

11. Persons Deemed Owners.
    ---------------------

         The registered holder of a Note may be treated as the owner of it for
all purposes.

12. Unclaimed Money.
    ---------------

         If money for the payment of principal, premium, if any, or interest
remains unclaimed for two years, the Trustee or Paying Agent will pay, subject
to applicable escheatment laws, the money back to the Company at its request.
After that, Holders entitled to money must look to the Company for payment
unless an abandoned property law designates another person.

13. Amendment, Supplement, Waiver.
    -----------------------------

         Subject to certain exceptions, the Indenture or the Notes may be
amended or supplemented with the consent of the Holders of a majority in
aggregate principal amount of the Notes then outstanding and any past default or
compliance with any provision may be waived in a particular instance with the
consent of the Holders of a majority in aggregate principal amount of the Notes
then outstanding. Without the consent of or notice to any Holder, the Company
and the Trustee may amend or supplement the Indenture or the Notes to, among
other things, cure any ambiguity, omission, defect or inconsistency or make any
other change that does not adversely affect the rights of any Holder.

14. Successor Corporation.
    ---------------------

         When a successor corporation assumes all the obligations of its
predecessor under the Notes and the Indenture, the predecessor corporation will
be released from those obligations.
<PAGE>

15. Defaults and Remedies.
    ---------------------

         An Event of Default is: default for 30 days in payment of interest on
the Notes; default in payment of principal on the Notes when due; failure by the
Company for 60 days after appropriate notice to it to comply with any of its
other agreements contained in the Indenture or the Notes; default by the Company
or any Subsidiary with respect to its obligation to pay principal of or interest
on indebtedness for borrowed money aggregating more than $20.0 million or the
acceleration of such indebtedness if not withdrawn within 15 days after the date
of appropriate notice to it; and certain events of bankruptcy, insolvency or
reorganization of the Company or any of its Significant Subsidiaries. If an
Event of Default (other than as a result of certain events of bankruptcy,
insolvency or reorganization) occurs and is continuing, the Trustee or the
Holders of at least 25% in principal amount of the Notes then outstanding may
declare all unpaid principal of and accrued interest to the date of acceleration
on the Notes then outstanding to be due and payable immediately, all as and to
the extent provided in the Indenture. If an Event of Default occurs as a result
of certain events of bankruptcy, insolvency or reorganization, all unpaid
principal of and accrued interest on the Notes then outstanding shall become due
and payable immediately without any declaration or other act on the part of the
Trustee or any Holder, all as and to the extent provided in the Indenture.
Holders may not enforce the Indenture or the Notes except as provided in the
Indenture. The Trustee may require indemnity satisfactory to it before it
enforces the Indenture or the Notes. Subject to certain limitations, Holders of
a majority in principal amount of the Notes then outstanding may direct the
Trustee in its exercise of any trust or power. The Trustee may withhold from
Holders notice of any continuing default (except a default in payment of
principal or interest) if it determines that withholding notice is in their
interests. The Company is required to file periodic reports with the Trustee as
to the absence of default.

16. Trustee Dealings with the Company.
    ---------------------------------

         Bankers Trust Company, the Trustee under the Indenture, in its
individual or any other capacity, may make loans to, accept deposits from, and
perform services for the Company or an Affiliate of the Company, and may
otherwise deal with the Company or an Affiliate of the Company, as if it were
not the Trustee.

17. No Recourse Against Others.
    --------------------------

         A director, officer, employee or stockholder, as such, of the Company
shall not have any liability for any obligations of the Company under the Notes
or the Indenture or for any claim based on, in respect or by reason of, such
obligations or their creation. The Holder of this Note by accepting this Note
waives and releases all such liability. The waiver and release are part of the
consideration for the issue of this Note.

18. Discharge Prior to Maturity.
    ---------------------------

         If the Company deposits with the Trustee or the Paying Agent money or
U.S. Government Obligations sufficient to pay the principal of and interest on
the Notes to maturity as provided in the Indenture, the Company will be
discharged from the Indenture except for certain Sections thereof.

<PAGE>

19. Authentication.
    --------------

         This Note shall not be valid until the Trustee or an authenticating
agent signs the certificate of authentication on the other side of this Note.

20. Abbreviations and Definitions.
    -----------------------------

         Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as
tenants in common), CUST (= Custodian) and U/G/M/A (= Uniform Gifts to Minors
Act).

         All capitalized terms used in this Note and not specifically defined
herein are defined in the Indenture and are used herein as so defined.

21. Indenture to Control.
    --------------------

         In the case of any conflict between the provisions of this Note and the
Indenture, the provisions of the Indenture shall control.

         The Company will furnish to any Holder, upon written request and
without charge, a copy of the Indenture. Requests may be made to: NCO Group,
Inc., 515 Pennsylvania Avenue, Fort Washington, Pennsylvania 19034, Attention:
General Counsel.

<PAGE>

                                 TRANSFER NOTICE

This Transfer Notice relates to $__________ principal amount of the 4.75%
Convertible Subordinated Notes Due 2006 of NCO Group, Inc., a Pennsylvania
corporation, held by _____________________ (the "Transferor").

         (I) or (we) assign and transfer this Convertible Note to

------------
              (Print or type assignee's name, address and zip code)

------------
               (Insert assignee's social security or tax I.D. no.)

and irrevocably appoint _______________________________ agent to transfer this
Note on the books of the Company. The agent may substitute another to act for
him.

Your Signature: ________________________________________________________________
 (Sign exactly as your name appears on the other side of this Convertible Note)

         Date: ______________

         Signature Guarantee(1) __________________________

In connection with any transfer of any of the Notes evidenced by this
certificate occurring prior to the date that is two years after the later of the
date of original issuance of such Notes and the last date, if any, on which such
Notes were owned by the Company or any Affiliate of the Company, the undersigned
confirms that such Notes are being transferred:

CHECK ONE BOX BELOW

    (1) / /  to NCO Group, Inc.; or

    (2) / /  pursuant to and in compliance with Rule 144A under the Securities
             Act of 1933, as amended; or

    (3) / /  pursuant to and in compliance with Regulation S under the
             Securities Act of 1933, as amended; or

    (4) / /  pursuant to another available exemption from the registration
             requirements of the Securities Act of 1933; or

    (5) / /  pursuant to an effective registration statement under the
             Securities Act of 1933.

--------
(1) Signature must be guaranteed by a commercial bank, trust company or member
firm of the New York Stock Exchange using the Medallion signature guarantee.
<PAGE>

          Unless one of the boxes is checked, the Trustee will refuse to
     register any of the Notes evidenced by this certificate in the name of any
     person other than the registered holder thereof; provided, however, that if
     box (2), (3) or (4) is checked, the Trustee may require, prior to
     registering any such transfer of the Notes such legal opinions,
     certifications and other information as the Company has reasonably
     requested to confirm that such transfer is being made pursuant to an
     exemption from, or in a transaction not subject to, the registration
     requirements of the Securities Act of 1933, such as the exemption provided
     by Rule 144 under such Act.

          Unless the box below is checked, the undersigned confirms that such
     Note is not being transferred to an "affiliate" of the Company as defined
     in Rule 144 under the Securities Act of 1933, as amended (an "Affiliate"):

    (6) / /  The transferee is an Affiliate of the Company.

                                    --------------------------------------------
                                    Signature

                                    --------------------------------------------
                                    Date

                                    --------------------------------------------
                                    Signature Guarantee(2)

              TO BE COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED.
--------
(2) Signature must be guaranteed by a commercial bank, trust company or member
firm of the New York Stock Exchange using the Medallion signature guarantee.

<PAGE>

         The undersigned represents and warrants that it is purchasing this Note
for its own account or an account with respect to which it exercises sole
investment discretion and that it and any such account is a "qualified
institutional buyer" within the meaning of Rule 144A under the Securities Act of
1933, and is aware that the sale to it is being made in reliance on Rule 144A
and acknowledges that it has received such information regarding the Company as
the undersigned has requested pursuant to Rule 144A or has determined not to
request such information and that it is aware that the transferor is relying
upon the undersigned's foregoing representations in order to claim the exemption
from registration provided by Rule 144A.

Dated:
      ----------------------------    ------------------------------------------
                                      Name:
                                      Title:

<PAGE>

                                CONVERSION NOTICE

To NCO Group, Inc.:

         The undersigned owner of this Note hereby irrevocably exercises the
option to convert this Note, or the portion below designated, into Common Stock
of NCO Group, Inc. in accordance with the terms of the Indenture referred to in
this Note, and directs that the shares issuable and deliverable upon conversion,
together with any check in payment for fractional shares, be issued in the name
of and delivered to the undersigned, unless a different name has been indicated
in the assignment below. If shares are to be issued in the name of a person
other than the undersigned, the undersigned will pay all transfer taxes payable
with respect thereto.

         Any holder of Notes, upon exercise of its conversion rights in
accordance with the terms of the Indenture and the Security, agrees to be bound
by the terms of the Registration Rights Agreement relating to the Common Stock
issuable upon conversion of the Notes.

/ / Convert whole                        / / Convert in part

                                             Amount of Note to be converted
                                             ($1,000 or integral multiples
                                             thereof):

                                             $
                                              ---------------

                                         ---------------------------------------
                                         Signature (sign exactly as name appears
                                         on the other side of this Note)

                                         ---------------------------------------
                                         Signature Guarantee:(3)

------
(3) Signature must be guaranteed by a commercial bank, trust company or member
firm of the New York Stock Exchange using the Medallion signature guarantee.
<PAGE>

         If you want the stock certificate made out in another person's name,
complete the following for such person:

--------------------------------------------------------
Name

--------------------------------------------------------
Social Security or Taxpayer Identification Number

--------------------------------------------------------
Street Address

--------------------------------------------------------
City, State and Zip Code

<PAGE>

                      OPTION OF HOLDER TO ELECT REPURCHASE

         If you want to elect to have this Note repurchased by the Company
pursuant to Section 3.9 of the Indenture, check the box:  |_|

         If you want to elect to have only part of this Note repurchased by the
Company pursuant to Section 3.9 of the Indenture, state the principal amount
(which shall be $1,000 or a multiple thereof) to be repurchased: $______________

Dated:
      -------------------------------    ---------------------------------------
                                         Signature (sign exactly as name appears
                                         on the other side of this Note)

-------------------------------------
Signature Guarantee:(4)

(4) Signature must be guaranteed by a commercial bank, trust company or member
firm of the New York Stock Exchange using the Medallion signature guarantee.

<PAGE>

                             Schedule A to Exhibit A

                          Global Note Transfer Schedule

                 Changes to Principal Amount of Global Security

<TABLE>
<CAPTION>

===================================================================================================================
                Principal Amount of Securities by     Remaining Principal Amount of this    Authorized Signature
                which this Global Security Is to                Global Security             of officer of Trustee
     Date       Be Reduced and Reason for Reduction           (following decrease)          or Note Custodian
-------------------------------------------------------------------------------------------------------------------
<S>             <C>                                   <C>                                   <C>
-------------------------------------------------------------------------------------------------------------------

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

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

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

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

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

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

===================================================================================================================
</TABLE>

      Schedule to be maintained by Depositary in cooperation with Trustee.<PAGE>

                                                                    EXHIBIT 10.1

                              EMPLOYMENT AGREEMENT

                  EMPLOYMENT AGREEMENT dated as of January 1, 2001, JUDGE.com,
Inc., a Pennsylvania corporation (the "Company") and Martin E. Judge, Jr. (the
"Executive").

                                   BACKGROUND

                  The Company is a Pennsylvania corporation engaged in the
business of contract and permanent placement and skills training in the IT
industry.

                  Executive is the founder of the Company and its subsidiaries,
and has substantial business experience and talents in the area of Employer's
business. The Company believes that Executive will contribute to the future
success of the Company, and wishes to employ Executive on the terms and
conditions set forth in this Agreement.

                  Pursuant to the foregoing, Company desires to employ
Executive, and Executive desires to enter into the employ of Company, on the
terms and conditions contained in this Agreement.

                  NOW THEREFORE, in consideration of the premises and the mutual
covenants and agreements contained herein and intending, to be legally bound
hereby, the parties hereto agree as follows:

SECTION 1.  CAPACITY AND DUTIES

                  1.1      Employment; Acceptance of Employment. Company hereby
employs Executive and Executive hereby accepts employment by Company for the
period and upon the terms and conditions hereinafter set forth.

                  1.2      Capacity and Duties.

                           (a)      Executive shall be principally employed by
Company as its CEO  and, subject to the supervision of the Board of Directors,
shall perform such duties and have such authority consistent with his position
as may from time to time be specified by the Board of Directors. Executive shall
report directly to the Board of Directors and shall perform his duties for
Company principally from Company's offices located in Bala Cynwyd, Pennsylvania,
except for periodic travel that may be necessary or appropriate in connection
with the performance of Executive's duties hereunder.

                           (b)      Executive shall devote his full working
time, energy, skill and best efforts to the performance of his duties hereunder,
in a manner which will faithfully and diligently further the business and
interests of Company and its affiliates (as defined below), and shall not be
employed by or participate or engage in or be a part of in any manner the
management or operation of any business enterprise other than Company and its
affiliates without the prior written consent of the Board of Directors. For the
purposes of this definition "affiliate" means any person or entity which is a
subsidiary of or controlled by, or under common control with the Company.

                                      - 1 -
<PAGE>

SECTION 2.  TERM OF EMPLOYMENT

                  2.1 Term. The initial term of Executive's employment hereunder
shall be two (2) years commencing on the date hereof and shall thereafter
automatically be renewed each year thereafter unless and until either party
shall give notice of his or its election to terminate Executive's employment at
least ninety (90) days prior to the end of the then-current term, or unless
earlier terminated as hereinafter provided.

SECTION 3.  COMPENSATION

                  3.1 Basic Compensation. As compensation for Executive's
services hereunder, Company shall pay to Executive a salary at the annual rate
of $520,000 (the "Base Salary"), payable in bi-weekly installments in accordance
with Company's regular payroll practices in effect from time to time for the
first year during the term of Executive's employment, and for each subsequent
year a salary at such higher annual rate as the Board shall from time to time
determine in its sole discretion.

                  3.2 Performance Bonus. During the Term of this Agreement, in
the sole discretion of the Board, Executive shall be entitled to receive an
annual performance bonus in accordance with the policies of Company in place
from time to time as administered by the Compensation Committee of the Board,
provided that Executive has met or exceeded net profit or other performance
goals established by such committee.

                  3.3      Stock Options.

                           (a)      Company agrees that, subject to the approval
of the Board, during the Term it will present to Executive on or about each
Anniversary Date of this Agreement, a stock option agreement that will enable
employee to purchase shares of the common stock of Company, subject to the
compliance of Executive with the terms and conditions of this Agreement.

                           (b)      The options referred to in Section 3.3(a)
above shall be granted pursuant to the Incentive Stock Option and Non-Qualified
Plan for Key Employees and Non-Employee Directors (the "Plan"). All options
shall be subject to the terms and conditions of the Plan, as applicable, and
applicable laws and regulations. To the extent permitted by Plan and applicable
law, options granted to Executive shall be Incentive Stock Options under Section
422(b) of the Internal Revenue Code of 1986, as amended. The exercise price per
share of common stock for options issued to Executive shall be the closing price
of the stock at the close of trading on the date the options are awarded. If the
stock is not traded on the date the options are awarded, the next succeeding day
of trading shall be utilized. Options granted pursuant to this paragraph shall
be fully vested in amounts and on the dates specified in the Stock Option
Agreement issued to the Executive shall at all times be subject to compliance
with the terms and conditions of this Agreement, the Stock Option Agreement and
the Plan. All such options shall become immediately vested upon change of
control, as defined herein, whether or not Executive is terminated or
constructively terminated pursuant to such change of control.

                  3.4 Executive Benefits. In addition to the compensation
provided for in Sections 3.1, 3.2 and 3.3, Executive shall be entitled during
the term of his employment to participate in Company's medical and 401(k) plans
and such other of Company's employee benefit plans and benefit programs as may
from time to time be provided for other employees of Company whose duties,
responsibilities, and compensation are reasonably comparable to those of
Executive.

                                      - 2 -
<PAGE>

                  3.5 Vacation. Executive shall be entitled all legal holidays
observed by the Company and to a vacation of five (5) weeks during each calendar
year during the term of his employment, during which time his compensation shall
be paid in full.

                  3.6 Expense Reimbursement. During the term of his employment,
Company shall reimburse Executive for all reasonable expenses incurred by him in
connection with the performance of his duties hereunder in accordance with its
regular reimbursement policies as in effect from time to time and upon receipt
of itemized vouchers therefor and such other supporting information as Company
may reasonably require.

                  3.7 Automobile. During the term of his employment, Company
shall provide Executive with an automobile and automobile insurance for use in
connection with the performance of his duties hereunder consistent with prior
practice and shall reimburse him for all expenses reasonably incurred by him for
the maintenance and operation, including fuel of such automobile in connection
with the performance of his duties hereunder in accordance with its regular
reimbursement policies as in effect from time to time upon receipt of itemized
vouchers therefor and such other supporting information as Company may
reasonably require.

                                      - 3 -
<PAGE>

SECTION 4.  TERMINATION OF EMPLOYMENT

                  4.1 Death of Executive. Executive's employment hereunder shall
immediately terminate upon his death, upon which Company shall not thereafter be
obligated to make any further payments hereunder other than amounts (including
salary, bonuses, expense reimbursement, etc.) accrued as of the date of
Executive's death in accordance with generally accepted accounting principles.
In the event of Executive's death, all vested stock options shall be exercisable
by Executive's beneficiaries pursuant to the Judge Group, Inc.'s Stock Option
Agreement.

                  4.2 Disability of Executive. If Executive, in the reasonable
opinion of the Board, is or has been unable, due to his physical, mental or
emotional illness or condition to perform his duties hereunder for a period of
ninety (90) consecutive days or oneh hundred twenty (120) days within twelve
consecutive months, then the Board shall have the right to terminate Executive's
employment upon ten (10) days' prior written notice to Executive at any time
during the continuation of such inability, in which event Company shall not
thereafter be obligated to make any further payments hereunder other than
amounts (including salary, bonuses, expense reimbursement, etc.) accrued under
this Agreement as of the date of such termination in accordance with generally
accepted accounting principles.

                  4.3 Termination for Cause. Executive's employment hereunder
shall terminate immediately upon notice that the Board is terminating Executive
for "cause" (as defined herein), in which event Company shall not thereafter be
obligated to make any further payments hereunder other than amounts (including
salary, bonuses, expense reimbursement, etc.) accrued under this Agreement as of
the date of such termination in accordance with generally accepted accounting
principles. As used herein, "cause" shall include, without limitation, the
following:

                                       (i)  dishonesty;

                                      (ii)  fraud committed in connection with
Executive's employment, theft or misappropriation or embezzlement of Company's
funds;

                                     (iii)  conviction of any felony, first
degree misdemeanor, crime involving fraud or misrepresentation, or of any other
crime (whether or not connected with his employment) the effect of which is
likely to adversely affect the Company or its affiliates;

                                     (iv)  material breach of Executive's
obligations under this Agreement not corrected after notice and a period of
fifteen (15) days to cure;

                                      (v)  repeated and consistent failure of
Executive to be present at work during normal business hours unless the absence
is because of one or more of the disabilities specified in Section 4.2;

                                     (vi)  willful violation of any express
direction or any rule or regulation established by the Chief Executive Officer
or the Board;

                                    (vii)  insubordination, gross incompetence
or misconduct in the performance of, or gross neglect of, Executive's duties
hereunder not corrected after notice and a period of fifteen (15) days to cure;

                                    (viii)  conduct contrary to the best
interests of Company not corrected after notice and a period of fifteen (15)
days to cure; or

                                     (ix)  illegal possession or use of any
controlled substance.

                                      - 4 -
<PAGE>

                  4.4 Termination without Cause. In the event Executive's
employment is terminated by Company prior to the expiration of the then current
term, for any reason other than Cause or the death or disability of Executive;
then Company shall pay Executive his base salary for eighteen (18) months from
date of termination. Additionally, all stock options granted to Executive
pursuant to Section 3.3 above shall become immediately vested and exercisable on
the date of such termination. Upon making such payments, Company shall have no
further obligation to Executive hereunder.

                  4.5 Termination Upon a Change in Control. If following a
Change in Control of Company (as defined herein), Executive's employment is
terminated without Cause or Executive is constructively terminated within one
year of change of control, then Executive shall be entitled to the following:

                           (a)      a lump sum payment equal to eighteen (18)
months of the base annual cash compensation plus pro rata share of bonus, if
earned; and

                           (b)      anything to the contrary contained in
Section 3.3 above notwithstanding, all outstanding stock options granted to
Executive pursuant to Section 3.3 shall become immediately vested and
exercisable on the date of such change of control; and

                           (c)      continuation of Executive's benefits
pursuant to Section 3.3 for the lesser of eighteen (18) months or such time as
Executive receives benefits from another employer.

                           (d)      Should Executive desire to terminate his
employment at his discretion upon a change of control, he shall be entitled to a
lump sum payment equal to one (1) year base compensation.

The above-listed payments only become effective upon termination upon a change
in control or constructive termination following a change of control. For
purposes of this Agreement, "Constructively Terminated Upon Change in Control"
shall mean the occurrence of any of the following events without Employee's
express consent:

                                 (i)    A substantial and adverse change in the
                                        Executive's duties, control, authority,
                                        status or position with the Company, or
                                        the assignment to the Executive of any
                                        duties or responsibilities that are
                                        materially inconsistent with such status
                                        or position, or a material reduction in
                                        the duties and responsibilities
                                        previously exercised by the Executive,
                                        or a loss of title, loss of office,
                                        relocation, loss of significant
                                        authority, power or control, or any
                                        removal of him from or any failure to
                                        reappoint or reelect him to such
                                        positions, except in connection with his
                                        termination of his employment for Cause
                                        or Disability, or as a result of
                                        Employee's death;
                                 (ii)   Any reduction by Company in Executive's
                                        base compensation unless such reduction
                                        shall also apply to similarly situated
                                        Executives of Company and does not
                                        exceed ten percent (10%) per year
                                        (unless otherwise agreed in writing by
                                        Executive);
                                 (iii)  Any material breach by Company of any
                                        provision of this Agreement;

                                      - 5 -
<PAGE>

                                 (iv)   A material increase in the amount of
                                        travel required by Company of Executive
                                        to perform Executive's duties; or

                                 (v)    A required relocation by Company of
                                        Executive outside of the Delaware
                                        Valley.

Anything in this Agreement to the contrary notwithstanding, in the event it
shall be determined that any payment or distribution by the Company to or for
the benefit of the Executive (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise) would be
subject to the excise tax imposed by Section 4999 of the Code (the "Excise
Tax"), then the benefits payable under this Agreement shall be reduced to the
extent necessary so that no such amounts are subject to the Excise Tax; provided
however, that no such reduction will be made if the Executive would retain a
greater amount by receiving all such amounts and paying the applicable Excise
Tax.

         All determinations required to be made under this Section and the
assumptions to be utilized in arriving at such determinations, shall be made by
the Company's certified public accounting firm (the "Accounting Firm"), which
shall provide detailed supporting calculations both to the Company and the
Executive within 10 business days of the receipt of notice from the Executive or
the Company that there will be a payment potentially subject to the excise tax
imposed by Section 4999 of the Code, or such earlier time as is requested by the
Company. All fees and expenses of the Accounting Firm shall be borne solely by
the Company. Any determination by the Accounting Firm shall be binding upon the
Company and the Executive.

SECTION 5.  RESTRICTIVE COVENANTS

                  5.1      Confidentiality.

                           (a)      Executive shall not, either during or after
his employment with Company, directly or indirectly use, publish or otherwise
disclose or divulge to any third party any trade secrets, confidential or
proprietary information of Company other than as required by law or in the
ordinary course of Company business (including, without limitation, any such
information concerning customers, clients, candidates, consultants, vendors,
services, products, processes, pricing policies, business plans or records, any
technical or financial information or data, or any information relating to the
history or prospects of Company, any of Company's affiliates, or any of
Company's shareholders). "Confidential" information includes, without
limitation, all unpublished information and all information and data which is
not generally known by the industry.

                           (b)      Executive shall not, either during or after
his employment with Company, directly or indirectly copy, reproduce or remove
from Company's premises, except in the ordinary course of Company business,
trade secrets, confidential or proprietary information of Company or COMPANY (in
any medium) or any Company or COMPANY documents, files or records (including
without limitation any invoices, customer correspondence, business cards,
orders, computer records or software, or mailing, telephone or customer lists).
All such documents, files and records, and all other memoranda, notes, files,
records, lists and other documents made, compiled or otherwise acquired by
Executive in the course of his employment with Company are and shall remain the
sole property of Company and all originals and copies thereof shall be delivered
to the Company upon termination of employment for whatever reason. Executive
acknowledges a duty of confidentiality owed to Company and shall not, at any
time during or after his employment by Company, retain in writing, use, divulge,
furnish, or make accessible to anyone, without the express authorization of the
Board, any trade secret, private or confidential information or knowledge of
Company or its parent or any of its parent's affiliates obtained or acquired by
him while so employed. All computer software, computer data, address books,
rolodexes, business cards, telephone lists, customer lists, price lists,
contract forms, catalogs, books, records, and files and know-how acquired while
an employee of Company, are acknowledged to be the property of Company and shall

                                      - 6 -
<PAGE>

not be duplicated, removed from Company's possession or made use of other than
in pursuit of Company's business and, upon termination of employment for any
reason, Executive shall deliver to Company, without further demand, all copies
thereof which are then in his possession or under his control.

5.2 Non-Competition and Non-Solicitation. (a) Executive further agrees that in
the event of termination of this Agreement for any reason whatsoever, he will
not, for a period of eighteen months from the date of such termination (such
period not to include any period(s) of violation or period(s) of time required
for litigation to enforce the covenants herein), either directly or indirectly,
on his own account or as agent, consultant, advisor, stockholder, employer,
employee or otherwise in conjunction with any other person or entity engage in
competition in a business similar to that of the Company or be employed by a
business in competition with the Company located within a radius of one hundred
(100) miles of any office where the Company had or planned to have an office
within the preceding year, nor will he solicit accounts, clients, personnel,
consultants, candidates or engage in any other competitive activities within
said area and/or work for business that is similar and is in competition with
the Company. Executive further agrees that regardless of geographic location, he
will not, during such time period, service any customers that the Company has
done any business with during the preceding year. Executive acknowledges that
doing so in any manner would interfere with, diminish and otherwise jeopardize
and damage the business and goodwill of the Company.

                           (b)      Executive further agrees that during the
duration of this agreement and for a period of eighteen months following
termination for any reason, he will not in any way solicit, divert, take away or
attempt to solicit, divert or take away any employee, temporary personnel,
consultants, applicants, clients, customers, trade, business or goodwill from
the Company or otherwise compete for accounts or personnel which became known to
him through his employment with the Company and agrees not to influence or
attempt to influence any of the Company's current or prospective customers,
technical personnel, or employees not to do business with the Company.

                  5.3 Inventions and Improvements. During the term of his
employment, Executive shall promptly communicate to Company all ideas,
discoveries and inventions which are or may be useful to Company or its
business. Executive acknowledges that all ideas, discoveries, inventions, and
improvements which are made, conceived, or reduced to practice by him and every
item of knowledge relating to Company's business interests (including potential
business interests) gained by him during his employment hereunder are the
property of Company, and Executive hereby irrevocably assigns all such ideas,
discoveries, inventions, improvements, and knowledge to Company for its sole use
and benefit, without additional compensation. The provisions of this Section
shall apply whether such ideas, discoveries, inventions, improvements or
knowledge are conceived, made or gained by him alone or with others, whether
during or after usual working hours, whether on or off the job, whether
applicable to matters directly or indirectly related to Company's business
interests (including potential business interests), and whether or not within
the specific realm of his duties. It shall be conclusively presumed that ideas,
inventions, and improvements relating to Company's business interests or
potential business interests conceived during the two (2) years following
termination of employment are, for the purposes of this Agreement, conceived
prior to termination of employment. Executive shall, upon request of Company,
but at no expense to Executive, at any time during or after his employment with
Company, sign all instruments and documents requested by Company and otherwise
cooperate with Company to protect its right to such ideas, discoveries,
inventions, improvements, and knowledge, including applying for, obtaining, and
enforcing patents and copyrights thereon in any and all countries.

                                      - 7 -
<PAGE>

                  5.3      Injunctive and Other Relief.

                           (a)      Executive acknowledges and agrees that the
covenants contained herein are fair and reasonable in light of the consideration
paid hereunder, and that damages alone shall not be an adequate remedy for any
breach by Executive of his covenants contained herein and accordingly expressly
agrees that, in addition to any other remedies which the Company may have, the
Company shall be entitled to injunctive relief in any court of competent
jurisdiction for any breach or threatened breach of any such covenants by
Executive. Nothing contained herein shall prevent or delay the Company from
seeking, in any court of competent jurisdiction, specific performance or other
equitable remedies in the event of any breach or intended breach by Executive of
any of its obligations hereunder.

                           (b)      Notwithstanding the equitable relief
available to the Company, the Executive, in the event of a breach of his
covenants contained in Section 5 hereof, understands and agrees that the
uncertainties and delay inherent in the legal process would result in a
continuing breach for some period of time, and therefore, continuing injury to
the Company until and unless the Company can obtain such equitable relief.
Therefore, in addition to such equitable relief, the Company shall be entitled
to monetary damages for any such period of breach until the termination of such
breach, in an amount deemed reasonable to cover all actual and consequential
losses, plus all monies received by Executive as a result of said breach and all
costs and attorneys' fees incurred by the Company in enforcing this Agreement.
If Executive should use or reveal to any other person or entity any confidential
information, this will be considered a continuing violation on a daily basis for
so long a period of time as such confidential information is made use of by
Executive or any such other person or entity.

SECTION 6.  MISCELLANEOUS

                  6.1 Severability. The invalidity or unenforceability of any
particular provision or part of any provision of this Agreement shall not affect
the other provisions or parts hereof. If any provision hereof is determined to
be invalid or unenforceable by a court of competent jurisdiction, by reason of
the duration or geographical scope of the covenants contained therein, such
duration or geographical scope, or both, shall be considered to be reduced to a
duration or geographical scope to the extent necessary to cure such invalidity.

                  6.2 Assignment. This Agreement shall not be assignable by
Executive, and shall be assignable by Company only to any person or entity which
may become a successor in interest (by purchase of assets or stock, or by
merger, or otherwise) to Company in the business or a portion of the business
presently operated by it. Subject to the foregoing, this Agreement and the
rights and obligations set forth herein shall inure to the benefit of, and be
binding upon, the parties hereto and each of their respective permitted
successors, assigns, heirs, executors and administrators.

                  6.3 Notices. All notices hereunder shall be in writing and
shall be sufficiently given if hand-delivered, sent by documented overnight
delivery service or registered or certified mail, postage prepaid, return
receipt requested or by telegram, fax or telecopy (confirmed by U.S. mail),
receipt acknowledged, addressed as set forth below or to such other person
and/or at such other address as may be furnished in writing by any party hereto
to the other. Any such notice shall be deemed to have been given as of the date
received, in the case of personal delivery, or on the date shown on the receipt
or confirmation therefor, in all other cases. Any and all service of process and
any other notice in any such action, suit or proceeding shall be effective
against any party if given as provided in this Agreement; provided that nothing
herein shall be deemed to affect the right of any party to serve process in any
other manner permitted by law.

                           (a)      If to Company:

                                    JUDGE.com, Inc.
                                    Two Bala Plaza, Suite 400
                                    Bala Cynwyd, PA  19004
                                    Tel:   (610) 667-7700
                                    Fax:  (610) 664-7090

                                    Attention: Amy E. Feldman.

                           (b)      If to Executive:

                                    Martin E. Judge, Jr.

                                      - 8 -
<PAGE>

                  6.4 Entire Agreement and Modification. This Agreement
constitutes the entire agreement between the parties hereto with respect to the
matters contemplated herein and supersedes all prior agreements and
understandings with respect thereto. Any amendment, modification, or waiver of
this Agreement shall not be effective unless in writing, signed by both parties.
Neither the failure nor any delay on the part of any party to exercise any
right, remedy, power or privilege hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise of any right, remedy, power or
privilege preclude any other or further exercise of the same or of any other
right, remedy, power, or privilege with respect to any occurrence be construed
as a waiver of any right, remedy, power, or privilege with respect to any other
occurrence.

                  6.5 Governing Law. This Agreement is made pursuant to, and
shall be construed and enforced in accordance with, the internal laws of the
Commonwealth of Pennsylvania (and United States federal law, to the extent
applicable), without giving effect to otherwise applicable principles of
conflicts of law.

                  6.6 Headings; Counterparts. The headings of paragraphs in this
Agreement are for convenience only and shall not affect its interpretation. This
Agreement may be executed in two or more counterparts, each of which shall be
deemed to be an original and all of which, when taken together, shall be deemed
to constitute but one and the same Agreement.

                  6.7 Further Assurances. Each of the parties hereto shall
execute such further instruments and take such other actions as any other party
shall reasonably request in order to effectuate the purposes of this Agreement.

                  IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first above written.

                                            THE COMPANY, INC.

                                                   By:
                                                   Martin E. Judge, Jr.
                                                   Chairman of the Board

                                                   Katharine Wiercinski,
                                                   Secretary, Board of Directors

                                     - 9 -

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