Document:

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                                                                   EXHIBIT 10.25

                                                                  EXECUTION COPY
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                          SECURITIES PURCHASE AGREEMENT

                                      Among

                          DIGITAL COMMERCE CORPORATION,

                       WESTON PRESIDIO CAPITAL III, L.P.,

                 HIGHLAND CAPITAL PARTNERS V LIMITED PARTNERSHIP

                           AND CERTAIN OTHER INVESTORS

                            SERIES D PREFERRED STOCK

                              As of March 13, 2000

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                                TABLE OF CONTENTS

<TABLE>
<S>   <C>                                                                       <C>
1.    DEFINITIONS..................................................................1

2.    SALE AND PURCHASE OF SECURITIES..............................................7
      2.1.     Investor Securities.................................................7
      2.2.     Agreement to Sell and Purchase......................................8
      2.3.     Closing.............................................................8
      2.5.     Use of Proceeds.....................................................8

3.    CONDITIONS TO PURCHASE.......................................................8
      3.1.     Investor Agreements.................................................9
      3.2.     Investor Securities.................................................9
      3.3.     Legal Opinion.......................................................9
      3.4.     Representations and Warranties; Officer's Certificate...............9
      3.5.     Key Executive Insurance.............................................9
      3.6.     Legality; Governmental Authorization................................9
      3.7.     Amendment of Certificate of Incorporation; Series B and C Notes....10
      3.8.     General............................................................10

4.    CONDITIONS TO COMPANY'S OBLIGATIONS.........................................10
      4.1.     Representations and Warranties.....................................10
      4.2.     Legality, Governmental Authorization...............................10

5.    REPRESENTATIONS AND WARRANTIES..............................................10
      5.1.     Material Agreements................................................10
      5.2.     Organization and Subsidiaries; Business............................11
               5.2.1.  The Company................................................11
               5.2.2.  Subsidiaries...............................................12
      5.3.     Capitalization.....................................................12
               5.3.1.  Capital Stock of the Company...............................12
               5.3.2.  Options, etc...............................................12
               5.3.3.  Capital Stock of the Subsidiaries..........................12
               5.3.4.  Subsidiary Options, etc....................................12
      5.4.     Reports, Financial Statements and Other Documents..................13
      5.5.     Changes in Condition...............................................13
               5.5.1.  Material Adverse Effect....................................13
               5.5.2.  Extraordinary Transactions, etc............................13
      5.6.     Solvency...........................................................14
      5.7.     Taxes..............................................................14
      5.8.     Contractual Obligations, etc.......................................14
               5.8.1.  Certain Contracts..........................................14
               5.8.2.  Nature of Contracts........................................15
</TABLE>

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<TABLE>
<S>   <C>                                                                       <C>
               5.8.3.  Charter or By-Laws.........................................15
               5.8.4.  Insurance..................................................15
               5.8.5.  Transactions with Affiliates...............................16
      5.9.     Litigation.........................................................16
      5.10.    Violation of Other Instruments.....................................16
      5.11.    Consents...........................................................16
      5.12.    Operations in Conformity With Law, etc.............................16
      5.13.    Environmental Matters..............................................17
      5.14.    ERISA Matters......................................................18
      5.15.    Intellectual Property..............................................18
      5.16.    Labor Relations....................................................18
      5.17.    Filings, Broker's Fees, etc........................................19
      5.18.    Governmental Regulation............................................19
      5.19.    Margin Stock.......................................................19
      5.20.    Real Property Holding Corporation..................................19
      5.21.    Disclosure.........................................................19

6.    GENERAL COVENANTS...........................................................19
      6.1.     Covenants Relating to the Company's Board of Directors.............19
               6.1.1.  Board of Directors.........................................19
               6.1.2.  Directors Expenses.........................................19
               6.1.3.  Indemnity..................................................20
      6.2.     Information and Reports to be Furnished............................20
               6.2.1.  Annual Statements..........................................20
               6.2.2.  Quarterly Reports..........................................20
               6.2.3.  Monthly Reports............................................20
               6.2.4.  Annual Budgets.............................................21
               6.2.5.  Officers' Certificates.....................................21
               6.2.6.  Notice of Litigation, Defaults, etc........................21
               6.2.7.  Notices under Material Agreements..........................21
               6.2.8.  Information Provided to Stockholders.......................21
               6.2.9.  Other Information..........................................22
               6.2.10. Interview and Advisory Rights..............................22
               6.2.11. Annual Meeting.............................................22
      6.3.     Merger, Consolidation and Sale of Assets...........................22
      6.4.     Stock Issuance, etc................................................23
      6.5.     Transactions with Affiliates.......................................23
      6.6.     Closing Costs......................................................23
      6.7.     Subsidiaries Closures and Spin-offs................................23
               6.7.1.  Anceta.com.................................................23
               6.7.2.  FilmStuff.com, LLC.........................................24
               6.7.3.  Powertrust.com, Inc........................................24
               6.7.4.  Specific Enforcement.......................................24
</TABLE>

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<TABLE>
<S>   <C>                                                                       <C>
      6.8.     Series A Notes Conversion..........................................24
      6.9.     Employee Nondisclosure Agreements..................................24

7.    INVESTOR REPRESENTATIONS; RESTRICTIONS ON TRANSFER..........................25
      7.1.     Representations and Warranties of the Investors....................25
      7.2.     Home Office Payment................................................25
      7.3.     Replacement of Lost Securities.....................................25
      7.4.     Transfer, Exchange and Conversion of Investor Securities...........26
      7.5.     Restrictions on Transfer...........................................26
               7.5.1. Restrictive Legend..........................................26
               7.5.2. Notice of Proposed Transfer; Opinions of Counsel............27
               7.5.3. Termination of Restrictions.................................27

8.    EXPENSES, ETC...............................................................27
      8.1.     Expenses...........................................................27
      8.2.     Mutual Indemnification.............................................28
      8.3.     Survival...........................................................28

9.    NOTICES.....................................................................28

10.   CONFIDENTIALITY.............................................................29

11.   AMENDMENTS AND WAIVERS......................................................29

12.   SURVIVAL AND TERMINATION OF COVENANTS.......................................29

13.   SERVICE OF PROCESS..........................................................29

14.   WAIVER OF JURY TRIAL........................................................30

15.   GENERAL.....................................................................30
</TABLE>

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                                TABLE OF EXHIBITS

<TABLE>
<S>               <C>
1                 Investors, Preferred Stock and Purchase Price

2.1               Certificate of Designation

3.3               Opinion of Counsel to the Company

3.7A              Amendment to Certificate of Incorporation

3.7B              Amendments to Certificates of Designation

                                DISCLOSURE LETTER

5.1.1             Stock Option Plans

5.1.2             Employees Executing Non-Competes

5.2.2             Subsidiaries

5.3.1             Capitalization and Stock Ownership

5.3.2             Options

5.3.3             Capital Stock of Subsidiaries

5.3.4             Subsidiary Options, etc.

5.4               Pro Forma Balance Sheet

5.5.2             Extraordinary Transactions

5.7               Taxes

5.8               Contracts, etc.

5.9               Litigation

5.11              Consents

5.13              Hazardous Waste Sites
</TABLE>

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<TABLE>
<S>               <C>
5.14              Employee Benefit Plans

5.17              Broker's Fees
</TABLE>

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<PAGE>   7

                          SECURITIES PURCHASE AGREEMENT

                            Series D Preferred Stock

         This Agreement, dated as of March 13, 2000, is among Digital Commerce
Corporation, a Delaware corporation (the "Company"), Weston Presidio Capital
III, L.P., a Delaware limited partnership, Highland Capital Partners V Limited
Partnership, a Delaware limited partnership, and the other Investors set forth
in Exhibit 1 hereto. The parties agree as follows:

1.       DEFINITIONS. Certain capitalized terms are used in this Agreement as
specifically defined below in this Section 1. Except as the context otherwise
explicitly requires, (a) the capitalized term "Section" refers to sections of
this Agreement, (b) the capitalized term "Exhibit" refers to exhibits to this
Agreement, (c) references to a particular Section include all subsections
thereof, (d) the word "including" shall be construed as "including without
limitation", (e) accounting terms not otherwise defined herein have the meaning
provided under GAAP, (f) references to a particular statute or regulation
include all rules and regulations thereunder and any successor statute,
regulation or rules, in each case as from time to time in effect and (g)
references to a particular Person include such Person's successors and assigns
to the extent not prohibited by this Agreement and the other Investor
Agreements. References to "the date hereof" mean the date first set forth above.

         1.1.     "Adjustment Date" is defined in Section 6.7.3.

         1.2.     "Affiliate" means any Person directly or indirectly
controlling, controlled by or under direct or indirect common control with the
Company (or other specified Person) and shall include (a) any Person who is an
executive officer, director or beneficial holder of at least 10% of the
outstanding capital stock of the Company (or other specified Person), (b) any
Person of which the Company (or other specified Person) or an Affiliate (as
defined in clause (a) above) of the Company (or other specified Person) shall,
directly or indirectly, either beneficially own at least 10% of the outstanding
equity securities or constitute at least a 10% participant, and (c) in the case
of a specified Person who is an individual, Members of the Immediate Family of
such Person; provided, however, that the Investors shall not be Affiliates of
the Company for purposes of this Agreement.

         1.3.     "Balance Sheet" is defined in Section 5.4.

         1.4.     "Balance Sheet Date" is defined in Section 5.4.

         1.5.     "Board" shall mean the Board of Directors of the Company.

<PAGE>   8

         1.6.     "By-laws" means all written rules, regulations, procedures and
by-laws and all other similar documents, relating to the management, governance
or internal regulation of a Person other than an individual, each as from time
to time amended or modified.

         1.7.     "Certificate of Designation" is defined in Section 2.1.

         1.8.     "Charter" means the articles of organization, certificate of
incorporation, statute, constitution, joint venture or partnership agreement,
management agreement or other charter of any Person other than an individual,
each as from time to time amended or modified.

         1.9.     "Closings" is defined in Section 2.4.

         1.10.    "Closing Costs" means the sum of expenses recognized in the
Company's fiscal periods ending after the Balance Sheet Date for amortization of
transaction expenses, including investment banker's fees and legal fees and
expenses relating to the financings contemplated by the Investor Agreements and
the transactions contemplated by the Material Agreements.

         1.11.    "Closing Dates" is defined in Section 2.4.

         1.12.    "Code" means the federal Internal Revenue Code of 1986.

         1.13.    "Common Stock" means the common stock, $0.01 par value, of the
Company.

         1.14.    "Company" is defined in the Preamble.

         1.15.    "Company Indemnitees" is defined in Section 8.2.2.

         1.16.    "Consolidated", when used with reference to any term, means
that term as applied to the accounts of the Company or other indicated Person
and each of its respective Subsidiaries, consolidated or combined in accordance
with GAAP after eliminating all inter-company items and with appropriate
deductions for minority interests in Subsidiaries.

         1.17.    "Contractual Obligation" means, with respect to any Person,
any contracts, agreements, deeds, mortgages, leases, licenses, other
instruments, commitments, undertakings, arrangements or understandings, written
or oral, or other documents, including any Charter or By-law provisions and any
document or instrument evidencing indebtedness, to which any such Person is a
party or otherwise subject to or bound by or to which any asset of any such
Person is subject.

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         1.18.    "Disclosure Letter" means the letter provided by the Company
to the Investors which sets forth certain exceptions to the representations and
warranties set forth in Section 5.

         1.19.    "Distribution" means (a) the declaration or payment of any
dividend on or in respect of any shares of any class of capital stock of the
Company, any of its Subsidiaries or other specified Person, other than dividends
payable solely in shares of the common stock of the payor; (b) the purchase,
redemption or other retirement of any shares of any class of capital stock of
the Company, any of its Subsidiaries or other specified Person directly, or
indirectly through a Subsidiary or otherwise; or (c) any other distribution on
or in respect of any shares of any class of capital stock of the Company, any of
its Subsidiaries or other specified Person.

         1.20.    "Employee Benefit Plan" means each "employee benefit plan" as
defined in section 3(3) of ERISA, maintained or contributed to by the Company or
any member of an ERISA Group in which the Company is a member, or in which the
Company or any member of an ERISA Group in which the Company is a member
participates or participated and which provides benefits to employees of the
Company or their spouses or covered dependents or with respect to which the
Company has or may have a material liability, including (i) any such plans that
are "employee welfare plans" as defined in section 3(1) of ERISA and (ii) any
such plans that are "employee pension benefit plans" as defined in section 3(2)
of ERISA.

         1.21.    "Environmental Laws" means all applicable federal, state or
local statutes, laws, ordinances, codes, rules, regulations and guidelines
(including consent decrees and administrative orders) relating to public health
and safety and protection of the environment.

         1.22.    "ERISA" means the federal Employee Retirement Income Security
Act of 1974.

         1.23.    "ERISA Group", with respect to any entity, means any Person
which is a member of the same "controlled group" or under "common control",
within the meaning of section 414(b) or (c) of the Code or section 4001(b)(1) of
ERISA, with such entity.

         1.24.    "Exchange Act" means the federal Securities Exchange Act of
1934.

         1.25.    "GAAP" means generally accepted accounting principles,
promulgated by the Financial Accounting Standards Board as in effect from time
to time, applied on a basis consistent with that used in preparation of the
financial statements referred to in Section 4.4.

         1.26.    "Hazardous Material" is defined in Section 5.13.

         1.27.    "Highland" means Highland Capital Partners V Limited
Partnership, a Delaware limited partnership, Highland Capital Partners V-B
Limited Partnership, a Delaware

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limited partnership, and Highland Entrepreneurs' Fund V Limited Partnership, a
Delaware limited partnership.

         1.28.    "Highland Holders" means holders of Investor Securities
originally issued to Highland or issued upon conversion, exercise, transfer or
exchange of Investor Securities originally issued to Highland.

         1.29.    "Initial Closing" is defined in Section 2.3

         1.30.    "Initial Closing Date" is defined in Section 2.3

         1.31.    "Intellectual Property" means all patents and patent rights,
trademarks and trademark rights, trade names and trade name rights, service
marks and service mark rights, service names and service name rights, brand
names, inventions, processes, formulae, copyrights and copyright rights, trade
dress, business and product names, logos, slogans, trade secrets, industrial
models, designs, methodologies, data bases and computer programs (including all
source codes) and related documentation, technical information, manufacturing,
engineering and technical drawings, know-how and all pending applications for
and registration of patents, trademarks, service marks and copyrights.

         1.32.    "Investment" means, with respect to any entity or business,
(a) the acquisition for value of any share of capital stock, evidence of
Indebtedness or other security issued issued by such entity or business, (b) any
loan, advance, or extension of credit to, or contribution to the capital of, or
on behalf of such en or business, (c) any purchase or commitment to purchase
assets on behalf of such entity or business, (d) payment of any expenses,
obligations or liabilities on behalf of such entity or business whether or not
incurred in the ordinary course of business (including the payment of
obligations under leases and contracts to the extent the benefits of such leases
or contracts are enjoyed by such entity or business and (e) salaries and
benefits of and other expenses relating to employees performing services on
behalf of such entity or business, including benefits and advances to employees
for travel expenses, drawing accounts and similar expenditures.

         1.33.    "Investor Agreements" means this Agreement, the Certificate of
Designation, the Stockholders Agreement, the Registration Rights Agreement, any
other agreement or instrument entered into between the Company and the Investors
in connection with the transactions contemplated hereby and any amendment or
modification to any of the foregoing.

         1.34.    "Investor Indemnitees" is defined in Section 8.2.1.

         1.35.    "Investor Securities" is defined in Section 2.1.

         1.36.    "Investors" means the holders of Investor Securities, the
original holders of which are listed in Exhibit 1.

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         1.37.    "IPO" means the initial closing of the first registered,
underwritten public offering of equity securities of the Company on Form S-1 or
any successor form.

         1.38.    "Legal Requirement" means any federal, state, local or foreign
law, statute, ordinance, code, order, rule, regulation or any final order,
judgment or decree of any court, arbitrator, tribunal or governmental authority,
or any license, franchise, permit or similar right granted under any of the
foregoing.

         1.39.    "Lien" means (a) any mortgage, pledge, lien, charge, security
interest or other similar encumbrance upon any property or assets of any
character, or upon the income or profits therefrom; or (b) any conditional sale
or other title retention agreement or similar arrangement (including a
capitalized lease); or (c) any sale, assignment, pledge or other transfer for
security of any accounts, general intangibles or chattel paper, with or without
recourse.

         1.40.    "Margin Stock" means "margin stock" within the meaning of any
regulation, interpretation or ruling of the Board of Governors of the Federal
Reserve System, all as from time to time in effect.

         1.41.    "Material Adverse Effect" means a material adverse effect upon
the business, assets, financial condition, income or prospects of the Company
and its Subsidiaries on a Consolidated basis.

         1.42.    "Material Agreements" is defined in Section 5.1.

         1.43.    "Members of the Immediate Family," as applied to any
individual, means each parent, spouse, child, brother, sister or the spouse of a
child, brother or sister of the individual, and each trust or family limited
partnership created for the benefit of one or more of such persons.

         1.44.    "Pension Plan" means each pension plan (as defined in section
3(2) of ERISA) established or maintained, or to which contributions are or were
made, by the Company or any of its Subsidiaries or former Subsidiaries, or any
Person which is a member of the same ERISA Group with any of the foregoing.

         1.45.    "Person" means an individual, partnership, corporation,
company, association, trust, joint venture, unincorporated organization,
business trust, limited liability company and any governmental department or
agency or political subdivision.

         1.46.    "Powertrust Adjustment Event" is defined in Section 6.7.3.

         1.47.    "Preferred Director" is defined in Section 4 of the
Stockholders Agreement.

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         1.48.    "Preferred Stock" means the Series B Preferred Stock, the
Series C Preferred Stock and the Series D Preferred Stock.

         1.49.    "Principal Holder" means each original holder of Series D
Preferred Stock set forth on Exhibit 1 (and their Affiliates) so long as it
holds Investor Securities having an aggregate initial purchase price of at least
$6,000,000 and, for purposes only of Section 6.1.1, SAP Investments, Inc. so
long as it holds any Investor Securities.

         1.50.    "Qualified Public Offering" is defined in section 7.2 of the
Certificate of Designation.

         1.51.    "Registration Rights Agreement" is defined in Section 3.1.

         1.52.    "Required Holders" means the holders at the relevant time
(excluding the Company or any of its Subsidiaries) of at least a majority of the
voting power of all classes and types of Investor Securities (calculated to give
pro forma effect to the conversion of all Series D Preferred Stock), voting
together as a single class.

         1.53.    "Remedy Event" is defined in section 7 of the Certificate of
Designation.

         1.54.    "Second Closing" is defined in Section 2.4

         1.55.    "Second Closing Date" is defined in Section 2.4.

         1.56.    "Securities Act" means the federal Securities Act of 1933.

         1.57.    "Series B Preferred Stock" means the Series B Convertible
Preferred Stock, par value $0.01 per share of the Company.

         1.58.    "Series C Preferred Stock" means the Series C Convertible
Preferred Stock, par value $0.01 per share, of the Company.

         1.59.    "Series D Preferred Stock" means the Series D Redeemable
Convertible Preferred Stock, par value $0.01 per share, of the Company.

         1.60.    "Spin-Off" means with respect to any entity or business, the
distribution to the holders of capital stock of the Company of the equity
interests of such entity or assets comprising such business such that,
immediately after such distribution, such entity or business (or the assets and
liabilities relating thereto) would not be required to be disclosed on a balance
sheet of the Company in any manner (whether prepared on a consolidated basis or
otherwise) and the Company shall have no obligation to make any Investment in or
have any other obligation or liability with respect to, such entity or business
on or after the date of such Spin-Off, including payment of salaries and
benefits of employees performing services on behalf of such entity or

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business, obligations under contracts relating to or benefitting such entity or
business (e.g., payment of rent for office space or other real estate used by
such entity or business, and any trade payables or other current liabilities in
respect of goods, services or assets benefitting such entity or business, but
specifically excluding and permitting an administrative services agreement and
tax allocation agreement in customary form on arm's length terms approved by the
Board of Directors of the Company, including the Preferred Directors whose
approval will not be unreasonably withheld.

         1.61.    "Stockholders Agreement" is defined in Section 3.1.

         1.62.    "Stockholders' Equity" means, at any date, stockholders'
equity of the Company and its Subsidiaries determined in accordance with GAAP on
a Consolidated basis, excluding the effect of any foreign currency translation
adjustments.

         1.63.    "Stock Option Plans" is defined in Section 5.1.1.

         1.64.    "Subsidiary" means any Person of which the Company or other
specified Person now or hereafter shall at the time (a) own directly or
indirectly through a Subsidiary at least 50% of the outstanding capital stock
(or other shares of beneficial interest) entitled to vote generally or (b)
constitute a general partner.

         1.65.    "Welfare Plan" means each welfare plan as defined in section
3(1) of ERISA established or maintained, or to which any contributions are or
were made, by the Company or any of its Subsidiaries or any Person which is a
member of the same ERISA Group with any of the foregoing.

         1.66.    "WPC" means Weston Presidio Capital III, L.P., a Delaware
limited partnership, and Weston Presidio Entrepreneur Fund, L.P., a Delaware
limited partnership.

         1.67.    "WPC Holders" means holders of Investor Securities originally
issued to WPC or Investor Securities issued upon conversion, exercise, transfer
or exchange of Investor Securities originally issued to WPC.

2.       SALE AND PURCHASE OF SECURITIES.

         2.1.     Investor Securities. The Series D Preferred Stock being
purchased by the Investors hereunder, together with any securities issued with
respect thereto, upon exercise, conversion or transfer thereof or in exchange
therefor, including the Common Stock issuable upon conversion of the Series D
Preferred Stock, are collectively referred to as "Investor Securities";
provided, however, that once any such securities have been sold in a public
offering or pursuant to Rule 144 promulgated under the Securities Act, they
shall cease to be Investor Securities for all purposes of this Agreement. The
powers, preferences and rights of the Series D Preferred Stock are set forth in
the Company's Charter as amended through the date hereof,

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<PAGE>   14

including the Certificate of Designation, Preferences and Rights for the Series
D Preferred Stock in the form set forth in Exhibit 2.1 (the "Certificate of
Designation").

         2.2.     Agreement to Sell and Purchase. In reliance on the Investors'
representations and warranties contained in Section 7, and subject to all of the
terms and conditions hereof, the Company agrees to issue and sell to the
Investors and, subject to all of the terms and conditions hereof and in reliance
on the representations and warranties of the Company set forth or referred to
herein, the Investors severally, and not jointly or jointly and severally, agree
to purchase at the Closing the Investor Securities specified in Exhibit 1 for
each Investor at the purchase price, payable by wire transfer of immediately
available funds, so specified in such Exhibit. The Company shall have the right
to terminate this Agreement at the Closing without recourse or liability if the
total purchase price set forth in Exhibit 1 is not delivered at the Closing for
any reason.

         2.3.     Closing. The initial closing of the purchase and sale of
Investor Securities (the "Initial Closing") shall take place in Reston, Virginia
at the offices of Digital Commerce Corporation on March 13, 2000 (the "Initial
Closing Date") or at such other place and on such other date as the Company and
the Investors may agree upon. At the Initial Closing, the Company will deliver
to the Investors certificates evidencing the respective Investor Securities set
forth in Exhibit 1 for the Initial Closing against payment of the purchase price
therefor.

         2.4.     Second Closing. The second closing of the purchase and sale of
Investor Securities (the "Second Closing") shall take place in Boston,
Massachusetts at the offices of Ropes & Gray on or after March 22, 2000 (the
"Second Closing Date") or at such other time and place as the Company and the
Investors in the Second Closing may agree upon. At the Second Closing, the
Company will deliver to the Investors certificates evidencing the respective
Investor Securities set forth in Exhibit 1 for the Second Closing against
payment of the purchase price therefor (it being understood that the amount of
Investors Securities to be purchased at the Second Closing shall be either
$18,000,000 in the event CMGI, Inc. purchases Investor Securities at the Second
Closing or $3,500,000 in the event CMGI, Inc. does not purchase Investor
Securities at the Second Closing). The Initial Closing and the Second Closing
are referred to collectively as the "Closings" and the Initial Closing Date and
the Second Closing Date are referred to collectively as the "Closing Dates."

         2.5.     Use of Proceeds. The Company covenants that it will apply the
cash proceeds from the sale of the Investor Securities solely for the following
lawful purposes: (a) transaction costs and (b) working capital and capital
expenditures as provided for in the Company's business plan, approved from time
to time by the Board. No portion of such proceeds will be used to acquire or
maintain Margin Stock.

3.       CONDITIONS TO PURCHASE. The Investors' several obligations to purchase
the Investor Securities pursuant to this Agreement on the Closing Date are
subject to the satisfaction, on or prior to each Closing Date, of the following
conditions:

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         3.1.     Investor Agreements. The Company and its stockholders (other
than the Investors) party thereto shall have duly authorized, executed and
delivered to the Investors the following agreements:

                  (a) Stockholders Agreement dated as of the Initial Closing
         Date among the Company, the Investors and certain other stockholders of
         the Company (as from time to time in effect, the "Stockholders
         Agreement").

                  (b) Registration Rights Agreement dated as of the Initial
         Closing Date among the Company, the Investors and certain other
         stockholders of the Company (as from time to time in effect, the
         "Registration Rights Agreement").

         3.2.     Investor Securities. The Company shall have issued to the
Investors shown on Exhibit 1 the number of shares of Series D Preferred Stock
shown opposite their names in Exhibit 1 for the aggregate consideration as shown
in Exhibit 1.

         3.3.     Legal Opinion. On each Closing Date, the Investors shall have
received from Winstead Sechrest & Minick P.C., counsel to the Company and its
Subsidiaries, their opinion in substantially the form of Exhibit 3.3.

         3.4.     Representations and Warranties; Officer's Certificate. The
representations and warranties of the Company contained herein shall be true and
correct on and as of each Closing Date with the same force and effect as though
originally made on and as of such Closing Date; between the Balance Sheet Date
and the Closing Date, no Material Adverse Effect shall have occurred (in the
judgment of the Required Holders); the Company shall have performed all
obligations required to be performed by it under the Investor Agreements and the
Material Agreements; and the Investors shall have received on such Closing Date
a certificate to these effects signed by the President or Chief Financial
Officer of the Company.

         3.5.     Key Executive Insurance. The Company will have in full force
and effect as the owner thereof on each Closing Date a key executive life
insurance policy with a financially sound and reputable insurer in the aggregate
amount of $3,000,000 covering the life of Tony Bansal, the proceeds of which
shall be payable to the Company. Such policy shall not be cancelable without at
least 30 days' written notice from the insurer to WPC.

         3.6.     Legality; Governmental Authorization. The purchase of the
Investor Securities shall not be prohibited by any law or governmental order or
regulation, and shall not subject the Investors to any penalty or tax (other
than a penalty or tax that has been reimbursed by the Company). All necessary
consents, approvals, licenses, permits, orders and authorizations of, or
registrations, declarations or filings with, any governmental or administrative
agency or of any other Person, if any, with respect to any of the transactions
contemplated by this Agreement

                                      -9-
<PAGE>   16

or the other Investor Agreements, the absence of which could have a Material
Adverse Effect, shall have been duly obtained or made and shall be in full force
and effect.

         3.7. Amendment of Certificate of Incorporation; Series B and C Notes.
The Certificate of Incorporation of the Company shall have been amended as
provided for in Exhibit 3.7A and all issued and outstanding Series B and C Notes
shall have been paid in full or shall have been converted into Series B
Preferred Stock or Series C Preferred Stock, as applicable, having the powers,
rights and preference set forth in the amended Certificate of Designation
attached hereto as Exhibit 3.7B.

         3.8. General. All instruments and legal and corporate proceedings in
connection with the transactions contemplated by this Agreement, the other
Investor Agreements and the Material Agreements shall be reasonably satisfactory
in form and substance to the Required Holders, and the Investors shall have
received copies of all documents, including records of corporate proceedings and
officers certificates, which the Required Holders may have reasonably requested
in connection therewith.

4.       CONDITIONS TO COMPANY'S OBLIGATIONS. The Company's obligations pursuant
to this Agreement on each Closing Date are subject to the satisfaction, on or
prior to such Closing Date, of the following conditions:

         4.1. Representations and Warranties. The representations and warranties
of each of the Investors contained herein shall be true and correct on and as of
such Closing Date with the same force and effect as though originally made on
and as of such Closing Date; and each of the Investors shall have performed all
obligations required to be performed by each of them under the Investor
Agreements.

         4.2. Legality, Governmental Authorization. The purchase of the Investor
Securities shall not be prohibited by any law or governmental order or
regulation applicable to the Investors. The Investors shall have obtained or
made all necessary consents, approvals, licenses, permits, orders and
authorizations of, or registrations, declarations or filings with, any
governmental or administrative agency or of any other Person, if any, with
respect to any of the transactions contemplated by this Agreement or the other
Investor Agreements.

5.       REPRESENTATIONS AND WARRANTIES. In order to induce the Investors to
enter into this Agreement and to purchase the Investor Securities hereunder, the
Company represents and warrants to the Investors as follows:

         5.1.     Material Agreements. The Company has furnished to the
Investors correct and complete copies of the documents listed below, all of
which have been executed on or prior to the date hereof and any amendments
thereto, modifications thereof or waivers granted thereunder. The documents
listed below are referred to collectively as the "Material Agreements".
References to any of the Material Agreements mean the Material Agreements in

                                      -10-
<PAGE>   17

the form so furnished to the Investors, without regard to any amendment,
modification, waiver or termination of such document which is made or otherwise
becomes effective after the date hereof, and shall include other documents,
exhibits and schedules which are attached thereto or incorporated therein by
reference:

                  5.1.1. The Executive Retention Plan, the 1998 Stock Option
         Plan, the 1996 Stock Option Plan and the related forms of stock option
         agreements in substantially the forms attached to Section 5.1.1 of the
         Disclosure Letter (the "Stock Option Plans"), indicating the allocation
         of a total of 6,477,847 shares of Common Stock to be reserved for
         options to be granted to outside directors, directors selected by the
         Company's management (which directors are not also employees or
         officers of the Company), officers, executives or other employees
         approved by the Board of Directors.

                  5.1.2. Employment Agreements and non-competition agreements
         dated on or about the date hereof between the Company and each of the
         employees listed on Section 5.1.2 of the Disclosure Letter of this
         Agreement.

         Other than customary subscription agreements with respect to the
issuance of shares of Common Stock to the stockholders listed in Section 5.3.1
of the Disclosure Letter or as otherwise set forth in Section 5.3.1 of the
Disclosure Letter, neither the Company nor any of its Subsidiaries is a party to
or bound by any agreement or understanding affecting the capital stock of the
Company or its Subsidiaries or the voting thereof which is not a Material
Agreement or an Investor Agreement or specifically contemplated by or referred
to in the Material Agreements or the Investor Agreements.

         5.2.     Organization and Subsidiaries; Business.

                  5.2.1. The Company. The Company is a duly organized and
         validly existing corporation in good standing under the laws of
         Delaware. The Company has all necessary corporate power and authority
         to enter into and perform this Agreement and the other Investor
         Agreements and Material Agreements to which it is party, to issue and
         sell the Investor Securities to be issued and sold by it hereunder, and
         to carry on the businesses now conducted or presently proposed to be
         conducted by it. The Company has taken all corporate action necessary
         to authorize the Investor Agreements and Material Agreements to which
         it is party and the issuance of the Investor Securities to be issued
         and sold by it hereunder. The Investor Agreements and Material
         Agreements to which the Company is party and the Investor Securities to
         be issued and sold by the Company hereunder have been duly executed and
         delivered by the Company and are the legal, valid and binding
         obligations of the Company, enforceable in accordance with their
         respective terms except (i) as limited by applicable bankruptcy,
         insolvency, reorganization, moratorium, and other laws of general
         application affecting enforcement of creditors' rights generally, and
         (ii) as

                                     -11-
<PAGE>   18

         limited by equitable principles which may affect the availability of
         specific performance, injunctive relief or other equitable remedies.

                  5.2.2. Subsidiaries. The Company does not own or control,
         directly or indirectly, or have an interest in, any other corporation,
         partnership, association or business entity, except for the
         corporations, limited liability companies, partnerships or joint
         ventures described in Section 5.2.2 of the Disclosure Letter.

         5.3.     Capitalization.

                  5.3.1. Capital Stock of the Company. The authorized capital
         stock of the Company is set forth in Section 5.3.1 of the Disclosure
         Letter. On the Closing Date, after giving effect to the issuance of the
         Investor Securities and the consummation of the transactions
         contemplated by the Investor Agreements, the Company will have no
         outstanding capital stock except for the shares of Common Stock and
         Preferred Stock owned beneficially and of record as set forth in
         Section 5.3.1 of the Disclosure Letter, all of which will be validly
         issued, fully paid, nonassessable and, to the best knowledge of the
         Company, subject to no lien or restriction on transfer, except
         restrictions on transfer imposed by the Investor Agreements and
         applicable securities laws or as otherwise set forth in Section 5.3.1
         of the Disclosure Letter.

                  5.3.2. Options, etc. Other than as set forth in Section 5.3.2
         of the Disclosure Letter, or in the Investor Agreements or Material
         Agreements, the Company does not have outstanding (a) any rights
         (either preemptive or otherwise) or options to subscribe for or
         purchase, or any warrants or other agreements providing for or
         requiring the issuance of, any capital stock or any securities
         convertible into or exchangeable for its capital stock, (b) any
         obligation to repurchase or otherwise acquire or retire any of its
         capital stock, any securities convertible into or exchangeable for its
         capital stock or any rights, options or warrants with respect thereto,
         (c) any rights to require the Company to register the offering of any
         of its securities under the Securities Act or (d) any restrictions on
         voting any of the Company's securities.

                  5.3.3. Capital Stock of the Subsidiaries. The authorized
         capital stock of each Subsidiary of the Company is set forth in Section
         5.3.3 of the Disclosure Letter. Except as set forth in Section 5.3.3 of
         the Disclosure Letter, each such Subsidiary has no outstanding capital
         stock except for shares of capital stock owned beneficially and of
         record by the Company, all of which will be validly issued, fully paid,
         nonassessable and subject to no lien or restriction on transfer, except
         restrictions on transfer imposed by the Investor Agreements, the
         Material Agreements and applicable securities laws and Liens.

                  5.3.4. Subsidiary Options, etc. Except as set forth in Section
         5.3.4 of the Disclosure Letter, none of the Company's Subsidiaries has
         outstanding (a) any rights

                                      -12-
<PAGE>   19

         (either preemptive or otherwise) or options to subscribe for or
         purchase, or any warrants or other agreements providing for or
         requiring the issuance of, any capital stock or any securities
         convertible into or exchangeable for its capital stock, (b) any
         obligation to repurchase or otherwise acquire or retire any of its
         capital stock, any securities convertible into or exchangeable for its
         capital stock or any rights, options or warrants with respect thereto,
         (c) any rights to require the Subsidiary to register the offering of
         any of its securities under the Securities Act or (d) any restrictions
         on voting any of the Subsidiary's securities.

         5.4.     Reports, Financial Statements and Other Documents. The
Investors have been furnished with complete and correct copies of the following:

                  (a) Unaudited Consolidated balance sheet (the "Balance Sheet")
         of the Company and its Subsidiaries as of December 31, 1999 (the
         "Balance Sheet Date"), together with the related statements of income,
         cash flows and stockholders' equity for the year then ended.

                  (b) Unaudited Consolidated balance sheet of the Company and
         its Subsidiaries as of January 31, 2000, together with the related
         statement of income for the one-month period then ended.

         The financial statements referred to in clauses (a) and (b) above have
been prepared in accordance with GAAP and fairly present the financial condition
of the Company and its Subsidiaries at the dates thereof and the results of
their operations for the periods covered thereby, subject to normal year-end
adjustments and the addition of footnotes in the case of the financial
statements referred to in clause (b) above. Except as set forth in Section 5.4
of the Disclosure Letter, neither the Company nor any of its Subsidiaries has
any material liabilities, contingent or otherwise, which are not referred to in
the Balance Sheet.

         5.5.     Changes in Condition. Since the Balance Sheet Date:

                  5.5.1. Material Adverse Effect. No Material Adverse Effect has
         occurred.

                  5.5.2. Extraordinary Transactions, etc. Except as set forth in
         Section 5.5.2 of the Disclosure Letter, neither the Company nor any of
         its Subsidiaries has (a) declared any dividend or other distribution on
         any shares of its capital stock, (b) made any payment (other than
         compensation of its directors, officers and employees at rates in
         effect prior to the Balance Sheet Date or for bonuses accrued in
         accordance with normal practice prior to the Balance Sheet Date) to
         any of its Affiliates, (c) increased the compensation, including
         bonuses and benefits, payable or to be payable to any of its
         directors, officers, employees or Affiliates by more than 10%, or (d)
         entered into any Contractual Obligation, or entered into or performed
         any other transaction, not in

                                     -13-
<PAGE>   20

         the ordinary and usual course of business and consistent with
         past practice, other than as specifically contemplated by this
         Agreement.

         5.6.     Solvency. After giving effect to the financing contemplated
hereby, the Company is solvent (within the meaning contemplated by section 548
of Title 11 of the United States Code and any similar state statutes which may
be applicable).

         5.7.     Taxes. Except as set forth in Section 5.7 of the Disclosure
Letter, since March 1, 1995, each of the Company and its Subsidiaries has filed
all material tax returns and other tax information which are required to be
filed by it and has paid, or made adequate provision for the payment of, all
taxes which have or may become due pursuant to such returns or information or to
any assessment received by it. Neither the Company nor any of its Subsidiaries
has knowledge of any material additional assessments or any basis therefor. The
Company reasonably believes that the charges, accruals and reserves on the
Balance Sheet in respect of taxes or other governmental charges are adequate.

         5.8.     Contractual Obligations, etc.

                  5.8.1. Certain Contracts. Section 5.8 of the Disclosure Letter
         contains, together with a reference to the subparagraph pursuant to
         which each item is being disclosed, a correct and complete list of all
         material Contractual Obligations of the Company and its Subsidiaries of
         the types described below:

                           (a) All collective bargaining agreements; all
                  employment, profit sharing, profit participation, deferred
                  compensation, bonus, stock option, stock purchase, pension,
                  retainer, consulting, retirement, welfare or incentive plans
                  or agreements; and all plans, agreements or practices which
                  constitute "fringe benefits" to any of the employees of the
                  Company or its Subsidiaries, including vacation programs, sick
                  leave programs, group medical insurance, group life insurance,
                  disability insurance and related benefits.

                           (b) All Contractual Obligations under which the
                  Company or its Subsidiaries are restricted from carrying on
                  any business, venture or other activities anywhere in the
                  world.

                           (c) All Contractual Obligations (including options)
                  to sell or lease (as lessor) any of the properties or assets
                  of the Company or its Subsidiaries except in the ordinary
                  course of business.

                           (d) All Contractual Obligations pursuant to which the
                  Company or its Subsidiaries guarantees any liability of any
                  Person, or pursuant to which any Person guarantees any
                  liability of the Company or its Subsidiaries.

                                      -14-
<PAGE>   21

                           (e) All Contractual Obligations with any Affiliate of
                  the Company or its Subsidiaries.

                           (f) All Contractual Obligations constituting license
                  agreements.

                           (g) All Contractual Obligations under which the
                  Company or any of its Subsidiaries leases real property or is
                  obligated to lease or purchase real property.

                           (h) All Contractual Obligations of the Company or any
                  of its Subsidiaries relating to the borrowing of money or to
                  the mortgaging or pledging of, or otherwise placing a lien on,
                  any asset of the Company or any of its Subsidiaries (except
                  liens imposed by operation of law in favor of landlords,
                  suppliers, mechanics or others who provide services to the
                  Company).

                           (i) All Contractual Obligations pursuant to which the
                  Company or any of its Subsidiaries is committed to acquire a
                  business or the stock (or other equity interests) of any
                  Person or to merge or consolidate with any Person.

                  5.8.2. Nature of Contracts. All of the material Contractual
         Obligations of the Company and its Subsidiaries at the Closing are
         enforceable against the Company and, to its knowledge, the other
         parties thereto in accordance with their terms, except for Contractual
         Obligations the failure of which to be so enforceable has not resulted
         in and will not result in a Material Adverse Effect. To the Company's
         knowledge, neither the Company nor any of its Subsidiaries is now in
         default under, nor are there any liabilities arising from any breach or
         default by any Person prior to the date hereof of, any provision of any
         such Contractual Obligation other than breaches or defaults which,
         individually or in the aggregate, have not resulted, and are not
         reasonably likely to result, in a Material Adverse Effect.

                  5.8.3. Charter or By-Laws. Neither the Company nor any of its
         Subsidiaries is in violation of, or in default under, any provision of
         its Charter or By-Laws, other than violations or breaches which,
         individually or in the aggregate, have not resulted in and will not
         result in a Material Adverse Effect and the Investors have been
         furnished with copies of such Charter and By-Laws.

                  5.8.4. Insurance. Each of the Company and its Subsidiaries has
         insurance policies in full force and effect, written by reputable
         insurers licensed to write insurance in the states in which the Company
         and its Subsidiaries conduct their business, which insurance contracts
         provide for coverages which are customary in their respective
         businesses as to amount and scope.

                                      -15-
<PAGE>   22

                  5.8.5. Transactions with Affiliates. Other than as set forth
         in Section 5.8 of the Disclosure Letter, no Affiliate of the Company or
         its Subsidiaries is a competitor, customer or supplier of, or is party
         to any material Contractual Obligation with, the Company or any of its
         Subsidiaries.

         5.9.     Litigation. Except as set forth in Section 5.9 of the
Disclosure Letter, no litigation or proceeding before, or investigation by, any
foreign, federal, state or municipal board or other governmental or
administrative agency or any arbitrator, is pending or to the knowledge of the
Company threatened (or to the knowledge of the Company does any basis exist
therefor), against the Company or its Subsidiaries or, to the Company's
knowledge, any officer of the Company or its Subsidiaries, which in the
aggregate could result in any material liability or which may otherwise result
in a Material Adverse Effect, or which seeks rescission of, seeks to enjoin the
consummation of, or which questions the validity of, this Agreement or any other
Investor Agreement or any of the transactions contemplated hereby or thereby.
Neither the Company nor its Subsidiaries has been charged, nor to the Company's
knowledge is it threatened to be charged, with infringement of any trademark,
trade name, service mark, copyright, patent, patent right or other proprietary
right of any Person.

         5.10.    Violation of Other Instruments. Neither the execution and
delivery of this Agreement or any other Investor Agreement by the Company or its
Subsidiaries party thereto, nor the consummation of any of the transactions
contemplated hereby or thereby, will (a) constitute a breach of or a default
under any Contractual Obligation of the Company or any of its Subsidiaries or,
to the actual knowledge of the Company's Chief Executive Officer and Chief
Financial Officer, any officer of the Company or its Subsidiaries, (b) result in
acceleration in the time for performance of any obligation of the Company or any
of its Subsidiaries under any such Contractual Obligation, (c) result in the
creation of any Lien upon any asset of the Company or any of its Subsidiaries,
(d) require any consent, waiver or amendment to any such Contractual Obligation
that has not been obtained, (e) give rise to any severance payment, right of
termination, securities repurchase right or other right under any such
Contractual Obligation, or (f) violate or give rise to a default under any Legal
Requirement, except for events or conditions described in clauses (a) through
(f) above which will not in the aggregate be reasonably likely to result in a
Material Adverse Effect.

         5.11.    Consents. No approval, consent, authorization or other order
of, and no declaration, filing, registration, qualification or recording with,
any governmental authority or any other Person is required to be made by or on
behalf of the Company or any of its Subsidiaries in connection with the
execution, delivery or performance of this Agreement or any other Investor
Agreement, or any of the transactions contemplated hereby or thereby, other than
filings described in Section 5.11 of the Disclosure Letter.

         5.12.    Operations in Conformity With Law, etc. The operations of the
Company and its Subsidiaries as now conducted are not in violation of, nor is
the Company or any of its

                                      -16-
<PAGE>   23

Subsidiaries in default under, any Legal Requirements presently in effect,
except for such violations and defaults as do not and will not, in the
aggregate, have a Material Adverse Effect. The Company has received no notice of
any such violation or default and has no knowledge of any basis on which the
operations of the Company or its Subsidiaries, when conducted as currently
proposed to be conducted after the Closing Date, would be held so as to violate
or to give rise to any such violation or default. The Company and its
Subsidiaries have all franchises, licenses, permits or other authority presently
necessary for the conduct of their business as now conducted, except where the
failure to obtain such franchises, licenses, permits or authority has not had
nor would be reasonably likely to result in a Material Adverse Effect. Based on
the facts presently known to the Company, all future expenditures on the part of
the Company or its Subsidiaries required to meet the provisions of any presently
existing Legal Requirement (including Legal Requirements relating to employment
practices or to occupational or health standards or to environmental
considerations) will not, in the aggregate, have a Material Adverse Effect.

         5.13.    Environmental Matters. Each of the Company and its
Subsidiaries is in compliance in all material respects with all applicable
published rules and regulations of the United States Environmental Protection
Agency and similar agencies in states in which the Company or its Subsidiaries
conducts its business. No suit, claim, action or proceeding is now pending
before any court, governmental agency or board or other forum or threatened by
any Person for, and the Company and its Subsidiaries have received no written
correspondence from any federal, state or local governmental authority with
respect to, (a) noncompliance by the Company or its Subsidiaries with any
environmental law, rule or regulation, (b) personal injury, wrongful death or
other tortious conduct relating to materials, commodities or products used,
sold, transferred or manufactured by the Company or its Subsidiaries (including
products containing or incorporating asbestos, lead or other hazardous
materials) or (c) the release into the environment by the Company or its
Subsidiaries of any pollutant, toxic or hazardous material or waste (including
any "hazardous substance" or "pollutant" or "contaminant" as defined in section
101(14) of the Comprehensive Environmental Response, Compensation and Liability
Act, as amended) (collectively, "Hazardous Material") generated by the Company
or its Subsidiaries whether or not occurring at or on a site owned, leased or
operated by the Company or its Subsidiaries. Section 5.13 of the Disclosure
Letter lists all waste disposal or dump sites, if any, at which any material
amount of Hazardous Material generated by either the Company or its Subsidiaries
have been disposed of or finally came to be located or lists the hauler who has
taken such Hazardous Material from the Company for disposal, indicates all such
sites which have been included (including as a potential or suspect site) in any
published federal, state or local "superfund" or other list of hazardous or
toxic waste sites and lists any material amount of Hazardous Material present at
the Company's or any of its Subsidiaries' facilities. To the Company's
knowledge, but without having conducted special boring or drilling, no material
amount of Hazardous Material is present in any real property currently or
formerly owned or leased by it or its Subsidiaries.

                                      -17-
<PAGE>   24

         5.14.    ERISA Matters. Section 5.14 of the Disclosure Letter sets
forth a complete list of all Employee Benefit Plans and all Welfare Plans
applicable to the Company's and its Subsidiaries' employees. To the knowledge of
the Company, each Employee Benefit Plan and Welfare Plan has been administered
in substantial compliance with its terms and all applicable laws, including, the
Code and ERISA, to the extent that failure to do so would have a Material
Adverse Effect. The Company and its Subsidiaries have no obligation under any
Welfare Plan to provide for the continuation of benefits (other than disability
payments and medical benefits incurred for illness arising in the course of
employment) for more than one year after retirement or other termination of
employment, except as may be required pursuant to Code section 4980B regarding
continuation coverage of health insurance or other similar laws regarding such
continuation coverage. No "reportable events" within the meaning of section 4043
of ERISA have occurred with respect to any Employee Benefit Plan. No Pension
Plan is a "multiemployer plan" as defined in ERISA. The present value of
benefits liabilities as described in Title IV of ERISA of Employee Benefit Plans
does not exceed the current value of such Employee Benefit Plans assets
allocable to such benefits liabilities by more than $100,000, determined using
actuarial methods and assumptions consistently applied in the ongoing
administration of each such Employee Benefit Plan.

         5.15.    Intellectual Property. Except as set forth in Section 5.15 of
the Disclosure Letter, all protectable Intellectual Property rights of the
Company which are, individually or in the aggregate, material to the Company and
its Subsidiaries are valid and subsisting and are in full force and effect and
enforceable. Except as set forth in Section 5.15 of the Disclosure Letter,
neither the Company nor its Subsidiaries is party to or bound by any order,
judgment, decree or stipulation which materially restricts the use or licenses
of any Intellectual Property. Except as set forth in Section 5.15 of the
Disclosure Letter, neither the Company nor its Subsidiaries has entered into any
material agreement to indemnify any other person or entity against any charge of
infringement of any patent, trademark, trade name, service mark, copyright or
trade secret. Except as set forth in Section 5.15 of the Disclosure Letter,
neither the Company nor its Subsidiaries is in breach of any license agreement,
except for such breaches as have not had and could not reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect. To the
knowledge of the Company, the conduct of the business of the Company and its
Subsidiaries as presently conducted and as proposed to be conducted does not,
and will not, conflict with or infringe upon any Intellectual Property rights of
any other person.

         5.16.    Labor Relations. None of the employees of the Company or any
of its Subsidiaries is presently represented by a labor union, and, to the
Company's Knowledge, no petition has been filed or proceedings instituted by any
employee or group of employees with any labor relations board seeking
recognition of a bargaining representative. No controversies or disputes are
pending between the Company or any of its Subsidiaries and any of its employees,
except for such controversies and disputes as do not and will not, in the
aggregate, have a Material Adverse Effect.

                                      -18-
<PAGE>   25

         5.17.    Filings, Broker's Fees, etc. Except as set forth in Section
5.17 of the Disclosure Letter, neither the Company nor any of its Subsidiaries
is obligated to pay any broker's fee, finder's fee, investment banker's fee or
other similar transaction fee in connection with any Investor Agreement or the
transactions contemplated hereby or thereby.

         5.18.    Governmental Regulation. Neither the Company nor its
Subsidiaries is subject to regulation under the Investment Company Act of 1940,
or subject to any statute or regulation which regulates the incurring of
indebtedness by the Company for borrowed money.

         5.19.    Margin Stock. Neither the Company nor its Subsidiaries owns
any Margin Stock.

         5.20.    Real Property Holding Corporation. Neither the Company nor its
Subsidiaries is a "United States real property holding corporation," as defined
in section 897(c)(2) of the Code and Treasury Regulation section 1.897-2(b).

         5.21.    Disclosure. To the best knowledge of the Company, neither this
Agreement, nor any agreement, certificate, statement or document furnished in
writing by or on behalf of the Company to the Investors in connection herewith
or therewith (other than the Company's Private Placement Memorandum, dated 1999)
contains any untrue statement of material fact or omits to state a material fact
necessary in order to make the statements contained herein or therein not
misleading in any material respect. To the best knowledge of the Company, the
Company's Private Placement Memorandum, dated 1999, as of the date of such
preparation, does not contain any untrue statement of material fact or omit to
state a material fact necessary in order to make the statements contained
therein not misleading in any material respect.

6.       GENERAL COVENANTS. The Company covenants that, until the closing of a
Qualified Public Offering it will comply, and will cause each of its
Subsidiaries to comply, with the following provisions:

         6.1.     Covenants Relating to the Company's Board of Directors.

                  6.1.1. Board of Directors. The Board of Directors of the
         Company (a) shall meet at least once each fiscal quarter and each
         Principal Holder shall be notified at least 10 days in advance of such
         meetings of the Board of Directors and each Principal Holder (other
         than any such Principal Holder whom the Company has reasonably
         determined at the time of any such meeting is a competitor of the
         Company) shall have the right to have a representative attend all such
         meetings in a nonvoting observer capacity, and (b) shall establish and
         maintain an Audit Committee and a Compensation Committee, each of which
         committees shall include as a member a Preferred Director.

                  6.1.2. Directors Expenses. The Company will pay all direct
         out-of-pocket expenses reasonably incurred by any Preferred Director in
         attending each meeting of

                                      -19-
<PAGE>   26

         the Board of Directors, or any committee thereof. All director fees and
         incentives for directors who are not also employees or officers of the
         Company shall be payable at the same rate.

                  6.1.3. Indemnity. The Company and each of its Subsidiaries
         will adopt and maintain in their respective Charter or Bylaws
         provisions indemnifying the directors of each such Person to the
         fullest extent permitted by applicable law.

         6.2.     Information and Reports to be Furnished. The Company and its
Subsidiaries will maintain a system of accounting in which correct and complete
entries will be made of all dealings and transactions in relation to their
business and affairs in accordance with GAAP. Until a Qualified Public Offering
occurs (except as otherwise provided below), the Company will furnish the
following information to each holder of shares of Investor Securities holding
Investor Securities with an aggregate original purchase price of at least $2
million; provided, however, that the Company shall not be obligated to provide
to any such Principal Holder whom the Board reasonably determines is a
competitor of the Company any competitively sensitive information provided the
Company provides such Holder with written notice describing the nature of the
information not being disclosed:

                  6.2.1. Annual Statements. As soon as available, and in any
         event within 120 days after the end of each fiscal year of the Company,
         the audited Consolidated balance sheet of the Company and its
         Subsidiaries as of the end of such fiscal year and the audited
         Consolidated statements of income, stockholders' equity and cash flows
         for such year of the Company and its Subsidiaries, together with the
         consolidated figures for the preceding fiscal year, if any (all in
         reasonable detail) such statements being accompanied by the reports
         thereon of independent certified public accountants to the effect that
         such consolidated financial statements have been prepared in accordance
         with GAAP and present fairly in all material respects the financial
         position of the Company and its Subsidiaries as of the dates specified
         and the results of their operations and cash flows with respect to the
         periods specified.

                  6.2.2. Quarterly Reports. As soon as available, and in any
         event within 45 days after the end of each of the first three fiscal
         quarters in each fiscal year of the Company, the unaudited Consolidated
         balance sheets of the Company and its Subsidiaries as of the end of
         such quarter and the Consolidated statements of income, stockholders'
         equity and cash flows for such quarter and the portion of the fiscal
         year then ended of the Company and its Subsidiaries, together with
         comparative Consolidated figures for the corresponding periods of the
         preceding fiscal year (all in reasonable detail).

                  6.2.3. Monthly Reports. As soon as practicable, and in any
         event within 45 days after the end of each calendar month, the
         financial statements of the Company

                                      -20-
<PAGE>   27

         and its Subsidiaries as of the end of such month in the form
         customarily prepared by management for internal use.

                  6.2.4. Annual Budgets. Not later than the end of each fiscal
         year of the Company a proposed month by month operating and capital
         budget for the following fiscal year of the Company, including a
         monthly balance sheet, projected cash flows, and a monthly profit and
         loss statement.

                  6.2.5. Officers' Certificates. Together with delivery of
         financial statements of the Company and its Subsidiaries pursuant to
         Sections 6.2.1 and 6.2.2 above as of the end of each fiscal quarter of
         the Company, a certificate of the Chief Executive Officer or the Chief
         Financial Officer of the Company, that such statements have been
         prepared in accordance with GAAP and present fairly in all material
         respects the Consolidated financial position of the Company and its
         Subsidiaries as of the dates specified and the Consolidated results of
         their operations and cash flows with respect to the periods specified
         (subject in the case of interim financial statements only to normal
         year-end audit adjustments and the addition of footnotes).

                  6.2.6. Notice of Litigation, Defaults, etc. The Company will
         promptly, and in any event within 10 days after the Company has
         knowledge of such event, give written notice to each Principal Holder
         of (a) any litigation or any administrative proceeding to which it or
         any of its Subsidiaries may hereafter become a party which after giving
         effect to applicable insurance is reasonably likely to result in a
         charge against income in excess of $25,000, (b) any resignation of or
         other change in executive management of the Company or any serious
         illness of any member of such executive management, and (c) any offers
         to purchase a majority (or greater) interest in the Company (whether by
         means of purchase of securities or assets or otherwise). The Company
         will promptly, and in any event within three days after any executive
         officer of the Company or any of its Subsidiaries obtains knowledge of
         any Remedy Event or material default by the Company under this
         Agreement, any other Investor Agreement or any other Contractual
         Obligation, furnish notice to each Principal Holder specifying the
         nature of such Remedy Event or material default and stating the action
         the Company has taken or proposes to take with respect thereto.
         Promptly after the receipt thereof, the Company will furnish to each
         Principal Holder copies of any reports as to inadequacies in accounting
         controls submitted by independent accountants.

                  6.2.7. Notices under Material Agreements. Prior to an IPO, the
         Company will furnish to the Principal Holders copies of all amendments,
         modifications, notices of defaults, waivers and consents given to it or
         to any of its Subsidiaries pursuant to any Material Agreement.

                  6.2.8. Information Provided to Stockholders. To the extent not
         previously provided, within 10 days after its release to stockholders,
         the Company will furnish the

                                      -21-
<PAGE>   28

         holders of Investor Securities with copies of all information, proxy
         statements, notices, reports and other stockholder material mailed to
         stockholders.

                  6.2.9. Other Information. From time to time prior to an IPO,
         upon the reasonable request of any authorized officer of any Principal
         Holder, the Company will furnish to any such authorized officer such
         information regarding the business, assets or financial condition of
         the Company and its Subsidiaries as such officer may reasonably
         request. Each such officer shall have the right during normal business
         hours at reasonable intervals and upon reasonable notice to examine the
         books and records of the Company and its Subsidiaries, to make copies
         and notes therefrom, and to make an independent examination of the
         books and records of the Company and its Subsidiaries at the expense of
         such Principal Holder and in a manner that does not interfere with the
         business operations of the Company and its Subsidiaries. The Principal
         Holders shall coordinate any visits under this Section 6.2.9 through
         the Company's Chief Financial Officer so as to minimize the number of
         separate visits by the respective Principal Holders.

                  6.2.10. Interview and Advisory Rights. For the purpose of
         conducting independent investigations pursuant to Section 6.2.9, prior
         to an IPO the Company shall make available to an authorized officer of
         any Principal Holder upon reasonable notice and at reasonable times,
         but no more often than quarterly, (a) the Chief Financial Officer or
         the Chief Executive Officer of the Company, and (b) any other officers,
         accountants and internal control personnel of the Company. The Company
         shall use reasonable efforts to make available any directors of the
         Company who are not officers. In addition, prior to an IPO the
         Principal Holders shall be permitted to consult with and advise
         management of the Company on significant business issues, including
         proposed annual operating plans. The Principal Holders shall coordinate
         any visits under this Section 6.2.10 through the Company's Chief
         Financial Officer so as to minimize the number of separate visits by
         the respective Principal Holders.

                  6.2.11. Annual Meeting. Within 90 days after the Company's
         annual financial statements are required to be furnished in accordance
         with Section 6.2.1 and on not less than 10 days prior written notice,
         the Company will hold an annual meeting for the benefit of its
         stockholders, including the holders of Investor Securities. At such
         annual meeting the principal executive, financial and operations
         officers of the Company and its Subsidiaries will present a review of,
         and will discuss with those in attendance, in reasonable detail, the
         general affairs, management, financial condition, results of operations
         and business prospects of the Company and its Subsidiaries.

         6.3.     Merger, Consolidation and Sale of Assets. Without the consent
of the Required Holders, neither the Company nor any of its Subsidiaries will
become a party to or authorize any merger or consolidation, or sell, lease,
sublease or otherwise transfer or dispose of

                                      -22-
<PAGE>   29

all or substantially all of its assets, or enter into an agreement therefor, or
enter into or authorize any liquidation, dissolution or recapitalization, except
for:

                  6.3.1. The merger of a wholly owned Subsidiary of the Company
         into the Company or another wholly owned Subsidiary of the Company.

                  6.3.2. Sales of inventory in the normal course of business.

                  6.3.3. Other transactions receiving the prior written approval
         of the Required Investors.

         For purposes of this Section "all or substantially all of if its
assets" shall mean assets having an aggregate fair market value of at least 50%
of the total assets of the Company and its Subsidiaries as of the Balance Sheet
Date or more which are sold, leased, subleased, transferred or disposed of after
the date hereof.

         6.4.     Stock Issuance, etc. Except with the prior written consent of
the Required Holders, neither the Company nor any Subsidiary will (a) issue,
sell, give away, transfer, assign or otherwise dispose of, (b) grant any rights
(either preemptive or other) or options to subscribe for or purchase, or (c)
enter into any agreements or issue any warrant providing for the issuance of any
of the capital stock of the Company or any stock or securities convertible into
or exchangeable for any of the capital stock of the Company having rights,
privileges and preferences pari passu or senior to the Series D Preferred Stock,
other than as specifically contemplated by the Investor Agreements or the
Material Agreements.

         6.5.     Transactions with Affiliates. Except for transactions
expressly contemplated by the Investor Agreements or with respect to
transactions to which the Required Holders have given their prior written
consent, neither the Company nor any of its Subsidiaries shall effect any
transaction with any Affiliate or any Member of the Immediate Family of such
Affiliate other than the Company or any wholly owned subsidiary of the
Company (except on terms no less favorable to the Company or any of its
Subsidiaries than it could obtain in an arm's-length transaction with an
unrelated party).

         6.6.     Closing Costs. The fee paid to Prudential Securities in
connection with the transactions contemplated by this Agreement shall not exceed
the amount calculated in accordance with the letter agreement between the
Company and Prudential Securities referred to in the Disclosure Letter and as
previously furnished to the Investors.

         6.7.     Subsidiaries Closures and Spin-offs.

                  6.7.1. Anceta.com. Prior to the earlier of (a) May 15, 2000 or
         (b) a Qualified Public Offering, the Company shall have discontinued
         its Anceta.com operations and moved all Anceta.com personnel to its
         other operations. From March 1, 2000 to the

                                      -23-
<PAGE>   30

         earlier of (a) May 15, 2000 or (b) a Qualified Public Offering, the
         Company shall invest no more than $50,000 in its Anceta.com operations,
         whether to fund operations or otherwise.

                  6.7.2. FilmStuff.com, LLC. From March 1, 2000 to the earlier
         of (a) May 15, 2000 or (b) a Qualified Public Offering, the Company
         shall invest no more than $225,000 in its FilmStuff.com, LLC
         Subsidiary. Thereafter, the Company and its Subsidiaries shall make no
         further investments in FilmStuff.com, LLC and shall not contribute any
         employee services, office space, equipment, intellectual property or
         any other assets to FilmStuff.com, LLC.

                  6.7.3. Powertrust.com, Inc. On or prior to the earlier of (a)
         June 30, 2000 or (b) a Qualified Public Offering (the "Adjustment
         Date"), the Company shall Spin- Off its Powertrust.com, Inc. Subsidiary
         to its stockholders (including the Investors in respect of the Investor
         Securities) on terms reasonably satisfactory to the Required Holders.
         Prior to the Adjustment Date, the Company may make Investments in such
         Subsidiary up to an aggregate of $1,800,000 between March 1, 2000 and
         the Adjustment Date. If the Company has not accomplished the Spin-Off
         of Powertrust.com, Inc. on or prior to the Adjustment Date or the
         Company has made Investments in Powertrust.com, Inc. in excess of the
         amount provided in the previous sentence (a "Powertrust Adjustment
         Event"), then the Conversion Price shall be adjusted on the Adjustment
         Date as provided for in section 7.4.2 of the Certificate of
         Designation. Notwithstanding the foregoing adjustment, the Company
         shall remain obligated to immediately Spin-Off Powertrust.com, Inc. and
         in no event shall the Company make any further Investments in
         Powertrust.com, Inc. after the Adjustment Date.

                  6.7.4. Specific Enforcement. Without limiting any other rights
         under this Agreement or otherwise, the Investors shall have the right
         to specifically enforce their rights under this Section 6.7.

         6.8.     Series A Notes Conversion. Prior to April 30, 2000 the Company
shall have repaid its outstanding Series A Notes in an aggregate principal
amount not to exceed $240,000 and shall convert or exchange any remaining
outstanding Series A Notes into Common Stock.

         6.9.     Employee Nondisclosure Agreements. From and after April 30,
2000 all employees of the Company shall be subject to nondisclosure, proprietary
information, inventions and nonsolicitation agreements in favor of the Company.

                                      -24-
<PAGE>   31

7.       INVESTOR REPRESENTATIONS; RESTRICTIONS ON TRANSFER.

         7.1.     Representations and Warranties of the Investors. In order to
induce the Company to enter into this Agreement and to sell the Investor
Securities hereunder, each of the Investors severally represents and warrants to
the Company that:

                  (a) It is an "accredited investor" for purposes of Regulation
         D under the Securities Act and it is acquiring the Investor Securities
         at the Closing for investment for its own account, and not with a view
         to selling or otherwise distributing the Investor Securities in
         violation of the Securities Act; provided, however, that nothing shall
         prevent the Investors from transferring the Investor Securities in
         compliance with this Section 7.

                  (b) It has sufficient knowledge and experience in investing in
         companies similar to the Company in terms of the Company's stage of
         development so as to be able to evaluate the risks and merits of its
         investment in the Company and it is able financially to bear the risks
         thereof.

                  (c) It has had an opportunity to discuss the Company's
         business, management and financial affairs with the Company's
         management and has received (or had made available to it) any financial
         and business documents requested by it.

                  (d) It understands that (i) the Investor Securities purchased
         by it have not been registered under the Securities Act by reason of
         their issuance in a transaction exempt from the registration
         requirements of the Securities Act pursuant to section 4(2) thereof or
         Rules 505 or 506 under the Securities Act, (ii) such Investor
         Securities must be held indefinitely unless a subsequent disposition
         thereof is registered under the Securities Act or is exempt from such
         registration, (iii) such Investor Securities will bear a legend to such
         effect and (iv) the Company will make a notation on its transfer books
         to such effect.

                  (e) It has no contract, arrangement or understanding with any
         broker, finder or similar agent with respect to the transactions
         contemplated by this Agreement.

         7.2.     Home Office Payment. All payments made in respect of the
Investor Securities held by the Investors shall be paid by Company check or
wired to the address shown on Exhibit 1, accompanied by sufficient information
to identify the source and application thereof or by such other method or at
such other address as the Investors shall have from time to time given timely
notice of to the Company.

         7.3.     Replacement of Lost Securities. Upon receipt of evidence
reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of any Investor Security and, in the case of any such loss, theft or
destruction, upon delivery of an indemnity bond in such reasonable amount as the
Company may determine (or, in the case of a security held by any Investor or any
institutional holder meeting the definition of qualified institutional buyer
under

                                      -25-
<PAGE>   32

Rule 144A promulgated under the Securities Act or by such Investor's or such
institutional holder's nominee, of an unsecured indemnity agreement from such
Investor or such other holder reasonably satisfactory to the Company) or, in the
case of any such mutilation, upon the surrender of the Investor Security for
cancellation to the Company at its principal office, the Company at its expense
will execute and deliver in lieu thereof a new security of like tenor. Any
Investor Security in lieu of which any such new security has been so executed
and delivered by the Company shall not be deemed to be outstanding for any
purpose.

         7.4.     Transfer, Exchange and Conversion of Investor Securities. The
Company shall keep at its principal office a register in which shall be entered
the names and addresses of the holders of the capital stock and other Investor
Securities of the Company and particulars of the respective shares of Common
Stock, Preferred Stock (including the classes thereof) and other Investor
Securities held by them and of all transfers, exchanges, conversions and
redemptions of such securities. Upon surrender at such office or such other
place as shall be duly specified by the Company of any certificate representing
shares of capital stock or instrument evidencing any other Investor Securities
for exchange, conversion or (subject to compliance with the applicable
provisions of this Agreement, including the conditions set forth in Section 7.5)
transfer, the Company shall as appropriate issue, at its expense, one or more
new certificates or instruments in such denomination or denominations as may be
requested, and registered as such holder may request. Any certificate
representing shares of capital stock or instrument evidencing any other Investor
Securities surrendered for transfer shall be duly endorsed, or accompanied by a
written instrument of transfer duly executed by the holder of such certificate
or instruments or an attorney duly authorized in writing.

         7.5.     Restrictions on Transfer. Investor Securities shall be
transferable only upon satisfaction of the applicable conditions specified in
this Section 7.5 or unless sold in an
offering registered under the Securities Act or pursuant to an exemption from
the registration requirements of the Securities Act.

                  7.5.1. Restrictive Legend. Except as otherwise permitted by
         Section 7.5.3, each certificate or instrument representing Investor
         Securities shall bear a legend in substantially the following form:

                  "The securities represented by this certificate have not been
                  registered under the Securities Act of 1933, as amended, or
                  under the securities laws of any state, and may not be sold,
                  or otherwise transferred, in the absence of such registration
                  or an exemption therefrom under such Act and under any such
                  applicable state laws. In addition, the shares represented by
                  this certificate are subject to restrictions on transfer
                  contained in a Securities Purchase Agreement dated as of March
                  13, 2000, a copy of which is available at the issuer's office
                  and will be furnished free of charge to the holder hereof."

                                      -26-
<PAGE>   33

                  7.5.2. Notice of Proposed Transfer; Opinions of Counsel. Prior
         to any transfer of any Investor Securities other than pursuant to an
         effective registration statement under the Securities Act, the holder
         thereof will give written notice to the Company of such holder's
         intention to effect such transfer, describing in reasonable detail the
         manner of the proposed transfer. If any such holder delivers to the
         Company (a) an opinion of counsel in form and substance reasonably
         acceptable to the Company addressed to the Company to the effect that
         the proposed transfer may be effected without registration of such
         Investor Securities under the Securities Act or applicable state
         securities laws (or a certificate of an officer of such holder that the
         transfer is being made to a wholly owned Subsidiary of the holder's
         corporate parent) and (b) the written agreement of the proposed
         transferee to be bound by all of the terms and conditions of this
         Agreement (including this Section 7.5) applicable to the Investors,
         such holder shall thereupon be entitled, within 10 days thereafter, to
         transfer such Investor Securities in accordance with the terms of this
         Agreement and the notice delivered by such holder to the Company. Each
         certificate or instrument issued upon or in connection with such
         transfer shall bear the restrictive legend set forth in Section 7.5.1,
         in each case unless the restrictions on transfer provided for in
         Section 7.5 shall have terminated as to such Investor Securities
         pursuant to Section 7.5.3.

                  7.5.3. Termination of Restrictions. The restrictions imposed
         by Sections 7.5.1 and 7.5.2 upon the transferability of Investor
         Securities shall terminate as to any particular Investor Securities and
         any securities issued in exchange therefor or upon transfer thereof
         when, in the opinion of counsel reasonably acceptable to the Company,
         such restrictions are no longer required in order to assure compliance
         with the Securities Act. Whenever any of such restrictions shall
         terminate as to any Investor Securities, the holder thereof shall be
         entitled to receive from the Company, without expense, new certificates
         or instruments not bearing the legend set forth in Section 7.5.1.

8.       EXPENSES, ETC.

         8.1.     Expenses. If the Closing occurs, the Company hereby agrees to
pay (a) all reasonable out-of-pocket expenses incurred by the Investors in
connection with the transactions contemplated by this Agreement, including
without limitation travel expenses and the reasonable fees, expenses and
disbursements of the Investors' counsel and other advisers in connection with
the transactions contemplated by this Agreement, up to an aggregate of $75,000,
(b) all expenses incurred by any Investors in connection with any amendments or
waivers (whether or not the same become effective) hereof, and (c) all taxes
(other than taxes determined with respect to income), including any recording
fees and filing fees and documentary stamp and similar taxes, at any time
payable in respect of this Agreement, any other Investor Agreement or the
initial issuance of the Investor Securities. In the event (i) the Investors are
successful in a claim against the Company in connection with the enforcement in
good faith of any rights hereunder or under any other Investor Agreements, the
Company agrees to pay all expenses incurred by the Investors

                                      -27-
<PAGE>   34

in connection with such enforcement, and (ii) the Company is successful in a
claim initiated by the Investors against the Company in connection with the
enforcement in good faith of any rights hereunder or under any other Investor
Agreements, the Investors, severally, agree to pay all expenses incurred by the
Company in connection with such enforcement pro rata in accordance with the
relative number of Investor Securities held by each of them.

         8.2.     Mutual Indemnification.

                  8.2.1. The Company shall indemnify and hold the Investors and
         each of the Investors' partners, stockholders, officers, directors,
         employees, attorneys, accountants, consultants and agents
         (collectively, the "Investor Indemnitees") free and harmless from and
         against all actions, causes of action, suits, litigation, losses,
         liabilities and damages, investigations or proceedings instituted by
         any governmental agency or any other Person and expenses in connection
         therewith, including reasonable attorneys' fees and disbursements,
         incurred by any Investor Indemnitee as a result of, or arising out of,
         or relating to any claim for brokerage, finders, investment banking or
         similar fees incurred by the Company in connection with the
         transactions contemplated by this Agreement.

                  8.2.2. The Investors shall indemnify and hold the Company and
         each of the Company's partners, stockholders, officers, directors,
         employees, attorneys, accountants, consultants and agents
         (collectively, the "Company Indemnitees") free and harmless from and
         against all actions, causes of action, suits, litigation, losses,
         liabilities and damages, investigations or proceedings instituted by
         any governmental agency or any other Person and expenses in connection
         therewith, including reasonable attorneys' fees and disbursements,
         incurred by any Company Indemnitee as a result of, or arising out of,
         or relating to any claim for brokerage, finders, investment banking or
         similar fees incurred by the Investors in connection with the
         transactions contemplated by this Agreement.

         8.3.     Survival. The obligations of the Company under this Section 8
shall survive the redemption, conversion, repurchase or transfer of any or all
of the Investor Securities.

9.       NOTICES. Any notice or other communication in connection with this
Agreement or the Investor Securities shall be deemed to be delivered if in
writing addressed as provided below and if either (a) actually delivered at such
address, (b) in the case of a letter, seven business days shall have elapsed
after the same shall have been deposited in the United States mails, postage
prepaid and registered or certified, return receipt requested or (c) transmitted
to any address outside of the United States, by telecopy and confirmed by
overnight or two-day courier:

         If to the Company, to it at 11180 Sunrise Valley Drive, Suite 400,
Reston, Virginia 20191, telecopy: (703) 391-9589, telephone: (703) 391-6300, or
at such other address as the Company shall have specified by notice actually
received by the Principal Holders.

                                      -28-
<PAGE>   35

         If to the Investors, to the Investors' respective addresses set forth
on Exhibit 1, or at such other address as the Investors shall have specified by
notice actually received by the Company, in each case with a copy to WPC and
Highland.

         If to any other holder of record of any Investor Security, to it at its
address set forth in the securities registers of the Company.

10.      CONFIDENTIALITY. Each Investor will maintain the confidential nature of
information obtained from the Company concerning the Company and its
Subsidiaries and, except as contemplated by this Agreement, will not disclose or
use such information, provided, however, that such Investor shall not be
precluded from making disclosure regarding such information: (a) to counsel for
WPC, Highland or any such Investor, accountants or other professional advisors
on a need-to-know basis, (b) to any other Investor, (c) as required by law or
applicable regulation, (d) to any permitted assignee of any Investor Securities
after notice to the Company so long as such permitted assignee has agreed to be
bound by this Section 10 or (e) to the extent such information has become
publicly available other than as a result of the violation of this Section 10;
provided, further, that in no event may any Investor disclose any such
information which is competitively sensitive to any competitor of the Company.

11.      AMENDMENTS AND WAIVERS. Any term of this Agreement may be amended and
the observance of any term of this Agreement may be waived (either generally or
in a particular instance and either retroactively or prospectively) only with
the written consent of the Required Holders. Any amendment or waiver effected in
accordance with this Section 10 shall be binding upon each holder of any
Investor Securities and the Company and each of its Subsidiaries.

12.      SURVIVAL AND TERMINATION OF COVENANTS.  All covenants, agreements,
representations and warranties made herein or in any closing certificate or
other certificate or written report delivered to the Investors pursuant to an
express requirement hereof shall be deemed to have been material and relied on
by the Investors, notwithstanding any investigation made by the Investors or on
the Investors' behalf, shall survive the execution and delivery to the Investors
hereof of the Investor Securities and shall terminate upon the closing of a
Qualified Public Offering.

13.      SERVICE OF PROCESS. Each of the Company and the Investors (a)
irrevocably submits to the non-exclusive jurisdiction of the state courts of The
State of Delaware and to the non-exclusive jurisdiction of the United States
District Court for the District of Delaware, for the purpose of any suit, action
or other proceeding arising out of or based upon this Agreement, any other
Investor Agreement or the subject matter hereof or thereof brought by any party
hereto or such party's successors or assigns, and (b) waives to the extent not
prohibited by law that cannot be waived, and agrees not to assert, by way of
motion, as a defense, or otherwise, in any such proceeding, any claim that it is
not subject personally to the jurisdiction of the above-named courts, that its
property is exempt or immune from attachment or execution, that any such

                                      -29-
<PAGE>   36

proceeding brought in one of the above-named courts is improper, or that this
Agreement or the Investor Securities, or the subject matter hereof or thereof,
may not be enforced in or by such court.

14.      WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW
WHICH CANNOT BE WAIVED, THE INVESTORS AND THE COMPANY HEREBY WAIVE, AND COVENANT
THAT NEITHER THE COMPANY NOR THE INVESTORS WILL ASSERT, ANY RIGHT TO TRIAL BY
JURY ON ANY ISSUE IN ANY PROCEEDING, WHETHER AS PLAINTIFF, DEFENDANT OR
OTHERWISE, IN RESPECT OF ANY ISSUE, CLAIM, DEMAND, ACTION OR CAUSE OF ACTION
ARISING OUT OF OR BASED UPON THIS AGREEMENT, ANY OTHER INVESTOR AGREEMENT OR THE
SUBJECT MATTER HEREOF OR THEREOF OR IN ANY WAY CONNECTED WITH, RELATED OR
INCIDENTAL TO THE DEALINGS OF THE INVESTORS AND THE COMPANY HEREUNDER OR
THEREUNDER, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER
IN TORT OR CONTRACT OR OTHERWISE. The Company acknowledges that it has been
informed by WPC and Highland that the provisions of this Section 14 constitute a
material inducement upon which the Investors are relying and will rely in
entering into this Agreement and purchasing the Investor Securities pursuant
hereto. Any Investor or the Company may file
an original counterpart or a copy of this Section 14 with any court as written
evidence of the consent of the Investors and the Company to the waiver of its
right to trial by jury.

15.      GENERAL. If any provision of this Agreement is determined to be invalid
or unenforceable, it will be deemed to be modified to the minimum extent
necessary to be valid and enforceable. If it cannot be so modified, it will be
deleted and the deletion will not affect the validity or enforceability of any
other provision unless, as a result, the rights of any party are materially
diminished or the obligations and burdens of any party are materially increased
so as to be unjust or inequitable. The headings in this Agreement are for
convenience of reference only and shall not alter or otherwise affect the
meaning hereof. This Agreement, the other Investor Agreements and the other
items referred to herein or therein constitute the entire understanding of the
parties hereto with respect to the subject matter hereof and thereof and
supersede all present and prior agreements, whether written or oral. This
Agreement is intended to take effect as a sealed instrument and may be executed
in any number of counterparts which together shall constitute one instrument and
shall be governed by and construed in accordance with the laws (other than the
conflict of laws rules) of The State of Delaware, and shall bind and inure to
the benefit of the parties hereto and their respective successors and assigns.
Whether or not any express assignment has been made of this Agreement,
provisions of this Agreement that are for the Investors' benefit as the holder
of any Investor Securities are also for the benefit of, and enforceable by, all
subsequent holders of Investor Securities.

                                      -30-
<PAGE>   37

         The undersigned have executed this Agreement under seal as of the date
first above written.

                             DIGITAL COMMERCE CORPORATION

                             By   /s/ Tony Bansal
                                 ----------------------------
                                  Title: President

                             WESTON PRESIDIO CAPITAL III, L.P.

                             By:      WESTON PRESIDIO CAPITAL
                                      MANAGEMENT III, L.P., its General Partner

                                      By: /s/ Carlo A. von Schroeter
                                          --------------------------------------
                                          General Partner

                             WESTON PRESIDIO ENTREPRENEUR FUND, L.P.

                             By:      WESTON PRESIDIO CAPITAL
                                      MANAGEMENT III, L.P., its General Partner

                                      By: /s/ Carlo A. von Schroeter
                                          --------------------------------------
                                          General Partner

                             HIGHLAND CAPITAL PARTNERS V LIMITED
                             PARTNERSHIP

                             By:      HIGHLAND MANAGEMENT PARTNERS V
                                      LIMITED PARTNERSHIP, its General Partner

                             By:      HIGHLAND MANAGEMENT PARTNERS V,
                                      INC., its General Partner

                                      By: /s/ Illegible
                                          --------------------------------------
                                          Authorized Officer

                                      -31-
<PAGE>   38

                           HIGHLAND CAPITAL PARTNERS V-B LIMITED
                           PARTNERSHIP

                           By:      HIGHLAND MANAGEMENT PARTNERS V
                                    LIMITED PARTNERSHIP, its General Partner

                           By:      HIGHLAND MANAGEMENT PARTNERS V,
                                    INC., its General Partner

                                    By: /s/ Illegible
                                        ----------------------------------------
                                        Authorized Officer

                           HIGHLAND ENTREPRENEURS' FUND V
                           LIMITED PARTNERSHIP

                           By:      HEF V LIMITED PARTNERSHIP, its General
                                    Partner

                           By:      HIGHLAND MANAGEMENT PARTNERS V,
                                    INC., its General Partner

                                    By: /s/ Illegible
                                        ----------------------------------------
                                        Authorized Officer

                           eSENTINEL VENTURE CAPITAL, L.L.C.

                           By:  SENTINEL CAPITAL PARTNERS, L.P., its
                           member

                           By:  SENTINEL PARTNERS, L.P., its general
                           partner

                           By:  SENTINEL PARTNERS, INC., its general
                           partner

                                 By: /s/ Illegible
                                     -------------------------------------------
                                     Name:
                                     Title:

                                      -32-
<PAGE>   39

                            eSENTINEL VENTURE CAPITAL II, L.L.C.

                            By:  SENTINEL CAPITAL PARTNERS II, L.P., its
                            member

                            By:  SENTINEL PARTNERS II, L.P., its general
                            partner

                            By:  SENTINEL PARTNERS II, INC., its general
                            partner

                                     By: /s/ Illegible
                                         ---------------------------------------
                                         Name:
                                         Title:

                            FRANK E. RICHARDSON

                            /s/ Frank E. Richardson
                            ------------------------------------

                            MICHAEL J. MYERS

                            /s/ Michael J. Myers
                            ------------------------------------

                            SAP INVESTMENTS, INC.

                            By      /s/ Kevin S. McKay
                               ---------------------------------
                               Name:    Kevin S. McKay
                               Title:   Chief Executive Officer

                            ADAM SOLOMON

                            /s/ Adam Solomon
                            ------------------------------------

                                      -33-
<PAGE>   40

                               THE ROMAN ARCH FUND L.P.

                               By: /s/ Robert Willard
                                   ---------------------------------------------
                                   Robert Willard, its E.V.P.

                               THE ROMAN ARCH FUND II L.P.

                               By: /s/ Robert Willard
                                   ---------------------------------------------
                                   Robert Willard, its E.V.P.

                                      -34-
<PAGE>   41

                               CHELSEY CAPITAL CORP.

                               By: Stuart Feldman
                                   ---------------------------------------------
                                   Name:  Stuart Feldman
                                   Title: President

                                      -35-
<PAGE>   42

                                  RRE VENTURES II L.P.

                                  By: Andrew L. Zalasin
                                      ------------------------------------------
                                      Andrew L. Zalasin, its General Partner

                                  RRE VENTURES FUND II L.P.

                                  By: Andrew L. Zalasin
                                      ------------------------------------------
                                      Andrew L. Zalasin, its General Partner

                                      -36-
<PAGE>   43

                             EXHIBIT 1 TO SECURITIES
                               PURCHASE AGREEMENT

                                    Investors

<TABLE>
<CAPTION>
                                                 Number of Shares
Name and Address                            of Series D Preferred Stock                 Purchase Price
----------------                            ---------------------------                 --------------

<S>                                               <C>                                <C>
Weston Presidio Capital III, L.P.                    2,448,907                          $14,288,637.67
One Federal Street
Boston, MA 02210
    Telephone:     (617) 988-2500
    Telecopy:      (617) 988-2515

Weston Presidio Entrepreneur Fund, L.P.               121,902                           $   711,261.60
One Federal Street
Boston, MA 02210
Telephone:  (617) 988-2500
Telecopy:    (617) 988-2515

Highland Capital Partners V                          1,814,991                          $10,589,927.99
Limited Partnership
Two International Place
Boston, MA  02110
Telephone:  (617) 531-1500
Telecopy:  (617) 531-1550

Highland Capital Partners V-B                          467,887                          $ 2,729,980.28
Limited Partnership
Two International Place
Boston, MA  02110
Telephone:  (617) 531-1500
Telecopy:  (617) 531-1550

Highland Entrepreneurs' Fund V                         287,931                          $ 1,679,991.01
Limited Partnership
Two International Place
Boston, MA  02110
Telephone:  (617) 531-1500
Telecopy:  (617) 531-1550
</TABLE>

                                      -37-
<PAGE>   44

<TABLE>
<S>                                                   <C>                             <C>
eSentinel Venture Capital, L.L.C.                       51,373                          $   299,746.04
777 Third Avenue -- 32nd floor
New York, New York  10017
Telephone:  (212) 688-3100
Telecopy:    (212) 688-6513

eSentinel Venture Capital II, L.L.C.                   856,945                          $ 5,000,016.99
777 Third Avenue -- 32nd floor
New York, New York  10017
Telephone:  (212) 688-3100
Telecopy:    (212) 688-6513

Michael J. Myers                                        17,156                          $   100,100.11
First Century Partners
29 Airpark Road
Princeton, New Jersey  08540
Telephone:  (609) 683-8848
Telecopy:    (609) 683-8123

Frank E. Richardson                                     17,156                          $   100,100.11
F.E. Richardson & Co., Inc.
245 Park Avenue
New York, New York  10167
Telephone: (212) 490-9271
Telecopy:   (212) 490-0015

SAP Investments, Inc.                                  856,937                          $ 4,999,970.31
300 Delaware Avenue, Suite 1704
Wilmington, DE 19801
Telephone: (610) 661-1811
Telecopy:   (610) 661-3260

Adam Solomon                                           514,162                          $ 2,999,981.02
Shaker Investments
237 Park Avenue - Suite 801
New York, New York  10017
Telephone: (212) 692-3662
Telecopy:   (212) 692-3609

The Roman Arch Fund L.P.                                64,270                          $   374,996.17
One New York Plaza, 18th Floor
New York, NY  10021
</TABLE>

                                      -38-
<PAGE>   45

<TABLE>
<S>                                               <C>                             <C>
Roman Arch Funds                                        64,270                          $   374,996.17
One New York Plaza, 18th Floor
New York, NY  10021

Chelsey Capital Corp.                                   42,847                          $   249,999.39
1370 Avenue of the Americas
26th Floor
New York, NY  10019
Telephone: (212) 586-6479
Telecopy: (212) 765-3112

RRE Ventures II L.P.                                   434,182                          $  2,533,321.72
126 East 56th Street
New York, NY  10022

RRE Ventures Fund II L.P.                               79,980                          $    466,659.31
126 East 56th Street
New York, NY  10022

Individual Investors                                   569,006                          $  3,319,979.31
                                                     ---------                          ---------------

Total                                                8,709,902                          $ 50,819,665.21
                                                     ---------                          ---------------
</TABLE>

                                      -39-<PAGE>   1
                                                                   EXHIBIT 10.26

                                                                  EXECUTION COPY

                          REGISTRATION RIGHTS AGREEMENT

         This Agreement, dated as of March 13, 2000, is among Digital Commerce
Corporation, a Delaware corporation (the "Company"), Weston Presidio Capital
III, L.P., a Delaware limited partnership, Highland Capital Partners V Limited
Partnership, a Delaware limited partnership, and the other investors listed in
Schedule A (collectively, and together with their permitted successors and
assigns, the "Investors"), the holders of Preferred Stock listed on Schedule B
hereto (collectively, the "Other Preferred Holders") and the other security
holders of the Company listed in Schedule C from time to time in effect (the
"Management Stockholders" and collectively with the Investors and the Other
Preferred Holders, the "Holders"). The parties agree as follows:

1. DEFINITIONS. Certain capitalized terms are used in this Agreement as
specifically defined below in this Section 1. Except as the context otherwise
explicitly requires, (a) the capitalized term "Section" refers to sections of
this Agreement, (b) the capitalized term "Exhibit" refers to exhibits to this
Agreement, (c) references to a particular Section include all subsections
thereof, (d) the word "including" shall be construed as "including without
limitation", (e) accounting terms not otherwise defined herein have the meaning
provided under GAAP, (f) references to a particular statute or regulation
include all rules and regulations thereunder and any successor statute,
regulation or rules, in each case as from time to time in effect and (g)
references to a particular Person include such Person's successors and assigns
to the extent not prohibited by this Agreement and the other Investor
Agreements. References to "the date hereof" mean the date first set forth above.
Capitalized terms used and not otherwise defined herein are used herein as
defined in the Purchase Agreement.

       1.1. "Common Stock" means the common stock, $0.01 par value, of the
Company.

       1.2. "Company" is defined in the preamble.

       1.3. "Exchange Act" means the Securities and Exchange Act of 1934.

       1.4. "Form S-1", "Form S-2", "Form S-3", "Form S-4" and "Form S-8" mean
such respective forms under the Securities Act as in effect on the date hereof
or any successor registration forms under the Securities Act subsequently
adopted by the SEC.

       1.5. "Holder" is defined in the preamble.

       1.6. "Investors" is defined in the preamble.

       1.7. "Management Stockholders" is defined in the preamble.

       1.8. "Other Preferred Holder" is defined in the preamble.

                                       -1-

<PAGE>   2

       1.9. "Preferred Stock" means the Series B Preferred Stock, Series C
Preferred Stock and Series D Preferred Stock of the Company.

       1.10. "Purchase Agreement" means the Securities Purchase Agreement dated
as of the date hereof among the Company and the Investors.

       1.11. "Qualified Public Offering" is defined in section 7.2 of the
Certificate of Designation.

       1.12. "Register", "registered" and "registration" refer to a registration
effected by preparing and filing a registration statement or similar document in
compliance with the Securities Act.

       1.13. "Registrable Securities" means (a) the Common Stock issued or
issuable upon conversion, exchange or exercise of the Preferred Stock, (b) any
Common Stock issued (or issuable upon the conversion, exchange or exercise of
any warrant, right or other security which is issued) as a dividend or other
distribution with respect to, or in exchange for or in replacement of, either
such Preferred Stock, or the Common Stock issued or issuable upon conversion,
exchange or exercise of such Preferred Stock, and (c) any Common Stock issued to
the Management Stockholders, either directly or pursuant to options, warrants or
other rights under employee plans or hereafter issued or issuable as a dividend
or other distribution with respect thereto or in exchange therefor or
replacement thereof; provided, however, that any shares previously sold to the
public pursuant to a registered public offering or pursuant to Rule 144 under
the Securities Act shall cease to be Registrable Securities.

       1.14. "Registrable Securities then outstanding" means the sum of (a) the
number of shares of Common Stock outstanding which are Registrable Securities
plus (b) the number of shares of Common Stock issuable pursuant to then
exercisable, exchangeable or convertible securities which upon issuance would be
Registrable Securities.

       1.15. "Registration Period" means the period commencing on the date that
is 180 days after the effective date of the first Qualified Public Offering of
the Company and terminating on the date that is three and one half years after
the effective date of such Qualified Public Offering.

       1.16. "Required Investors" means those Investors who own at least a
majority of the Registrable Securities then outstanding (on an as converted,
exercised and/or exchanged basis) owned by all Investors.

       1.17. "Rule 144" is defined in Section 8.

       1.18. "SEC" means the Securities and Exchange Commission or any successor
agency.

       1.19. "Securities Act" means the Securities Act of 1933.

       1.20. "Series B Preferred Stock" means the Series B Convertible Preferred
Stock, par value $0.01 per share, of the Company.

                                       -2-

<PAGE>   3

       1.21. "Series C Preferred Stock" means the Series C Convertible Preferred
Stock, par value $0.01 per share, of the Company.

       1.22. "Series D Preferred Stock" means the Series D Redeemable
Convertible Preferred Stock, par value $0.01 per share, of the Company.

       1.23. "Violation" is defined in Section 7.1.

2. REQUEST FOR REGISTRATION.

       2.1. Long- Form Request Rights. If the Company shall receive at any time
during the Registration Period a written request from the Holders owning at
least a majority of the Registrable Securities then outstanding and owned by the
Holders that the Company effect the registration on Form S-1 or Form S-2 (or any
successor form) under the Securities Act of at least 10% of the Registrable
Securities issued pursuant to the Purchase Agreement, then the Company shall,
within five days after the receipt thereof, give written notice of such request
to all Holders. If the Holders initiating such registration intend to distribute
such shares by means of an underwritten offering, they shall so advise the
Company in such written request. Subject to the limitations of this Section 2,
the Company shall use its best efforts to effect such a registration as soon as
practicable, covering all the Registrable Securities which the Holders shall
request in writing within 20 days after receipt of such notice, all other shares
of Common Stock that the Company is contractually obligated, as of the date
hereof, to include in such a registration and all other shares of Common Stock
that the Company may wish to include, subject to any limitation imposed by the
lead underwriters as set forth in Section 2.3. The Company shall use its best
efforts to cause such registration statement to become effective.

       2.2. Short Form Request Rights. At any time after the Company becomes
eligible to file a Registration Statement on Form S-3 (or any such successor
form relating to secondary offerings), Holders holding a majority of the
Registrable Securities then outstanding and owned by the Holders may request the
Company, in writing, to effect the registration on Form S-3 (or such successor
form) and any related qualification or compliance with respect to all or a part
of the Registrable Securities held by such Holders; provided, however, that (a)
in the case of a request by Other Preferred Holders or the Management
Stockholders, such Other Preferred Holders and Management Stockholders shall
have requested to register a number of Registrable Securities equal to or
greater than 10% of the Registrable Securities held by such Other Preferred
Holders and Management Stockholders on the date hereof and (b) in the case of a
request by Investors, such Investors shall have requested to register a number
of Registrable Securities equal to or greater than 10% of the aggregate number
of Registrable Securities originally issued to all of the Investors pursuant to
the Purchase Agreement. Upon receipt of such notice, then the Company shall,
promptly after the receipt thereof, give written notice of such request to all
Holders. If the holders of Registrable Securities initiating such registration
intend to distribute such shares by means of an underwritten offering, they
shall so advise the Company in such written request. Subject to the limitations
of this Section 2, the Company shall use its best efforts to effect such a
registration as soon as practicable, covering all the Registrable Securities
which

                                      -3-
<PAGE>   4

the Holders shall request in writing within 20 days after receipt of such
notice, all other shares of Common Stock that the Company is contractually
obligated, as of the date hereof, to include in such a registration and all
other shares of Common Stock that the Company may wish to include, subject to
any limitation imposed by the lead underwriter as set forth in Section 2.3. The
Company shall use its best efforts to cause such registration statement to
become effective; provided, however, that the Company shall not be obligated to
effect any such registration, qualification or compliance pursuant to this
Section 2.2 if Form S-3 is not available for such offering by the Holders.

       2.3. Underwritten Offering. The lead underwriter for the proposed
offering to be registered under this Section 2 shall be selected by the Board of
Directors, subject to the approval of the holders of a majority of the
Registrable Securities initiating the request, whose approval shall not be
unreasonably withheld in the case of a nationally or regionally recognized firm.
The right of any Holder to include its Registrable Securities in such
registration shall be conditioned upon such Holder's participation in such
underwriting and the inclusion of the Registrable Securities to be sold by such
Holder in the underwriting. All Holders proposing to sell Registrable Securities
in such offering shall (together with the Company as provided in Section 4.5)
enter into an underwriting agreement in customary form with the lead underwriter
for such underwriting. Notwithstanding any other provision of this Section 2, if
the lead underwriter for the offering advises the Company in writing that
marketing factors require a limitation of the number of shares to be
underwritten, then the Company shall so advise all Holders of Registrable
Securities which would otherwise be so underwritten, and the number of shares of
Registrable Securities that may be included in the underwriting shall be
allocated as follows:

                  (a) First, to the holders of Registrable Securities initiating
         the registration and any holders of equity securities of the Company
         which carry registration rights applicable to such registration issued
         prior to the date of this Agreement, pro rata in accordance with the
         number of shares requested by the initiating holders of Registrable
         Securities and such other holders of securities to be included in such
         offering.

                  (b) Second, to all other Holders pro rata in accordance with
         the number of Registrable Securities requested by such Holders to be
         included in such offering; provided, however, that Registrable
         Securities held by Management Stockholders shall be included pursuant
         to this clause (b) only if the Company and the lead underwriter shall
         have furnished to the Holders requesting registration pursuant to this
         Section 3 a certificate signed by the President of the Company stating
         that in their good faith judgment, participation by such Management
         Stockholders in the registration will not negatively impact such
         offering.

                  (c) Third, to the Company for the shares requested to be sold
         by it in such offering.

       2.4. Number of Requests. The Company is obligated to effect only two
registrations on Form S-1 or Form S-2 pursuant to this Section 2. No limit
applies on the number of registrations the Company is obligated to effect on
Form S-3 pursuant to this Section 2.

                                      -4-
<PAGE>   5

       2.5. Deferral of Registration. Notwithstanding the foregoing provisions
of this Section 2, the Company shall not be obligated to effect the filing of a
registration statement pursuant to this Section 2 if the Company shall furnish
to the Holders requesting a registration statement pursuant to this Section 2 a
certificate signed by the President of the Company stating that in the good
faith judgment of the Board of Directors of the Company, the filing of such
registration statement would have an adverse affect upon the Company. The
Company shall have the right to defer such filing for a period of not more than
90 days after receipt of the request for a registration under this Section 2;
provided, however, that the Company may not utilize the right set forth in the
preceding sentence more than once in any 18-month period.

3. INCIDENTAL ("PIGGY-BACK") REGISTRATION. If the Company proposes to register
any of its capital stock or other securities under the Securities Act in
connection with the public offering of such securities solely for cash (other
than the initial public offering of securities of the Company or a registration
on Form S-8 or Form S-4 relating to an acquisition), the Company shall promptly
give each Holder written notice of such registration. Upon the written request
of any Holder given within 30 days after such notice, the Company shall, subject
to the further provisions of this Section 3, use its best efforts to include in
such registration all of the Registrable Securities that each such Holder has
requested to be registered to become effective under the Securities Act and all
other shares of Common Stock that the Company is contractually obligated, as of
the date hereof, to include in such a registration. The Company shall be under
no obligation to complete any offering of its securities it proposes to make
under this Section 3 and shall incur no liability to any Holder for its failure
to do so. Notwithstanding any other provisions of this Section 3, if the lead
underwriter for the offering advises the Company in writing that marketing
factors require a limitation of the number of shares to be underwritten, then
the Company shall so advise all Holders of Registrable Securities which would
otherwise be so underwritten, and the number of shares of Registrable Securities
that may be included in the underwriting shall be allocated as follows:

                  (a) First, to the Company and any holder of equity securities
         of the Company which carry registration rights granted prior to the
         date of this Agreement (unless such registration rights permit such
         equity securities to be cut back by the underwriters on a pari passu
         basis with the Registrable Securities) for shares requested to be sold
         by them in such offering.

                  (b) Second, to the Holders requesting registration in such
         offering pro rata in accordance with the number of Registrable
         Securities requested by the Holders to be included in such offering;
         provided, however, that Registrable Securities held by Management
         Stockholders shall be included pursuant to this clause (b) only if the
         Company and the lead underwriter shall have furnished to the Holders
         requesting registration pursuant to this Section 3 a certificate signed
         by the President of the Company stating that in their good faith
         judgment, participation by such Management Stockholders in the
         registration will not negatively impact such offering.

4. OBLIGATIONS OF THE COMPANY. In connection with any registration of
Registrable Securities pursuant to this Agreement, the Company shall take the
following actions, as expeditiously as reasonably possible:

                                      -5-
<PAGE>   6

       4.1. Effectiveness of Registration. In cooperation with the selling
Holders as contemplated by Section 5.2, the Company shall prepare and file with
the SEC a registration statement with respect to such Registrable Securities and
use its best efforts to cause such registration statement to become effective.
Upon the request of the Holders of a majority of the Registrable Securities
registered thereunder, the Company shall keep any registration statement filed
pursuant to Section 2 effective for up to one hundred eighty (180) days or until
the Holders have informed the Company in writing that the distribution of their
securities has been completed.

       4.2. Amendments. The Company shall prepare and file with the SEC such
amendments and supplements to such registration statement and the prospectus
used in connection with such registration statement, and use its best efforts to
cause each such amendment to become effective, as may be necessary to comply
with the Securities Act with respect to the disposition of all securities
covered by such registration statement; provided, however, that nothing
contained in this Section 4.2 will be deemed to increase the Company's
obligations pursuant to the last sentence of Section 4.1.

       4.3. Copies of Registration Statement. The Company shall furnish to each
Holder such number of conformed copies of such registration statement and of
each such amendment and supplement thereto (in each case including all
exhibits), such number of copies of the prospectus included in such registration
statement (including each preliminary prospectus and any summary prospectus), in
conformity with the requirements of the Securities Act, such documents
incorporated by reference in such registration statement or prospectus, and such
other documents, as such Holder may reasonably request in order to facilitate
the disposition of its Registrable Securities covered by such registration
statement.

       4.4. State Qualifications. The Company shall use its best efforts to
register or qualify such Registrable Securities under or exempt such Registrable
Securities from registration or qualification requirements of the securities or
blue sky laws of such jurisdictions as each Holder shall reasonably request, and
do all other acts which may be necessary or advisable to enable such Holder to
consummate the disposition in such jurisdictions of its Registrable Securities
covered by such registration statement; provided, however, that the Company
shall not be required to qualify as a foreign corporation in any state where it
is not then required to qualify.

       4.5. Underwriting Agreement. The Company shall enter into and perform its
obligations under an underwriting agreement, in customary form not inconsistent
with this Agreement, with the lead underwriter of such offering.

       4.6. Changes in Prospectus. The Company shall notify each Holder of
Registrable Securities covered by such registration statement, at any time when
a prospectus relating thereto covered by such registration statement is required
to be delivered under the Securities Act, of the happening of any event as a
result of which the prospectus included in such registration statement, as then
in effect, includes an untrue statement of a material fact or omits to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading in the light of the circumstances then existing. The
Company shall promptly file such

                                      -6-
<PAGE>   7

amendments and supplements which may be required pursuant to Section 4.2 on
account of such event and use its best efforts to cause each such amendment and
supplement to become effective. Upon receipt of such notice and pending the
effectiveness of such amendments and/or supplements, each Holder agrees not to
sell any Registrable Securities pursuant to such Registration.

       4.7. Opinions and Comfort Letters. The Company shall furnish on the date
that such Registrable Securities are delivered to the underwriters for sale in
connection with a registration pursuant to this Agreement (a) an opinion, dated
such date, of the counsel representing the Company for the purposes of such
registration, in form and substance as is customarily given by issuer's counsel
to the underwriters in an underwritten public offering, addressed to the
underwriters and to the Holders requesting registration of Registrable
Securities and (b) a letter dated such date, from the independent certified
public accountants of the Company, in form and substance as is customarily given
by the issuer's independent certified public accountants to underwriters in an
underwritten public offering, addressed to the underwriters and to the Holders
requesting registration of Registrable Securities.

       4.8. Transfer Agent. The Company shall provide a transfer agent and
registrar for such Registrable Securities not later than the effective date of
such registration statement.

       4.9. Listing Shares. The Company shall apply for listing and use its best
efforts to list the Registrable Securities being registered on any national
securities exchange on which a class of the Company's equity securities are
listed. If the Company does not have a class of equity securities listed on a
national securities exchange, but does have equity securities listed for trading
on the automated quotation system of the National Association of Securities
Dealers, Inc., the Company shall apply for qualification and use its best
efforts to qualify the Registrable Securities on such automated quotation
system.

5. PREPARATION OF REGISTRATION STATEMENT.

       5.1. Information by Selling Holders. The selling Holders shall furnish to
the Company such information regarding themselves, the Registrable Securities
held by them, and the intended method of disposition of such Registrable
Securities as shall be required to effect the registration of their Registrable
Securities.

       5.2. Participation in Preparation of Registration Statement. In
connection with the preparation and filing of each registration statement
registering Registrable Securities under the Securities Act, the Company will
give the selling Holders, their underwriters and one counsel selected by the
selling Holders and approved in writing by the Required Investors, the
opportunity to participate in the preparation of such registration statement,
each prospectus included therein or filed with the SEC, and each amendment
thereof or supplement thereto, and will give each of them such access to its
books and records and such opportunities to discuss the business of the Company
with its officers and the independent public accountants who have certified its
financial statements as shall be necessary, in the reasonable opinion of such
selling

                                      -7-
<PAGE>   8

Holder and such underwriters or their respective counsel, to conduct a
reasonable investigation within the meaning of the Securities Act to protect
themselves from liability thereunder.

       5.3. Underwriting Agreement. Each selling Holder shall enter into and
perform its obligations under an underwriting agreement with the lead
underwriter for such offering in customary form not inconsistent with this
Agreement, including furnishing any opinion of counsel and agreeing to
indemnification obligations reasonably requested by the lead underwriter, but in
no event will any holder be liable for indemnification obligations in excess of
the net offering proceeds received by such Holder.

6. EXPENSES OF REGISTRATION. All expenses other than underwriting discounts and
commissions relating to Registrable Securities incurred in connection with each
of the registrations, filings or qualifications pursuant to Sections 2 or 3,
including all registration, filing and qualification fees, all fees and expenses
in connection with compliance with state securities or blue sky laws, printing
and delivery expenses, fees and disbursements of counsel and independent public
accountants for the Company, and the reasonable fees and disbursements of one
law firm acting as counsel for the selling Holders (which are not anticipated to
exceed $20,000 barring unforeseen circumstances) shall be paid by the Company.
Underwriting discounts and commissions relating to Registrable Securities will
be paid ratably by the Holders of such Registrable Securities.

7. INDEMNIFICATION.

       7.1. Company Indemnification. To the extent permitted by law, the Company
will indemnify and hold harmless each Holder, the officers, directors, partners,
agents and employees of each Holder, any underwriter (as defined in the
Securities Act) for such Holder, and each person, if any, who controls such
Holder or underwriter within the meaning of the Securities Act or the Exchange
Act, against any losses, claims, damages or liabilities (joint or several) to
which any of them may become subject under the Securities Act, the Exchange Act,
other federal or state law or otherwise, and to reimburse them for any legal or
any other expenses reasonably incurred by them in connection with investigating
any claim, or defending any action or proceeding, insofar as such losses,
claims, damages or liabilities (or actions or proceedings in respect thereof)
arise out of or are based upon any of the following statements, omissions or
violations (a "Violation"): (a) any untrue statement or alleged untrue statement
of a material fact contained or incorporated by reference in any registration
statement under which Registrable Securities were registered, including any
preliminary prospectus or final prospectus contained therein or any amendments
or supplements thereto, (b) the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not
misleading, or (c) any violation or alleged violation by the Company of the
Securities Act, the Exchange Act, any state securities law or any rule or
regulation under the Securities Act, the Exchange Act or any state securities
law. The indemnity provisions in this Section 7.1 shall not apply to amounts
paid in settlement of any loss, claim, damage, liability or action if such
settlement is effected without the consent of the Company (which consent shall
not be unreasonably withheld), nor shall the Company be liable to a Holder in
any such case for any such loss, claim, damage, liability or action (i) to the

                                      -8-
<PAGE>   9

extent that it arises out of or is based upon a Violation which occurs in
reliance upon and in conformity with written information furnished expressly for
use in connection with such registration by or on behalf of such Holder,
underwriter or controlling person or (ii) in the case of a sale directly by a
Holder of Registrable Securities (including a sale of such Registrable
Securities through any underwriter retained by such Holder to engage in a
distribution solely on behalf of such Holder) such untrue statement or alleged
untrue statement or omission or alleged omission was contained in a preliminary
prospectus and corrected in a final or amended prospectus, and such Holder
failed to deliver a copy of the final or amended prospectus at or prior to the
confirmation of the sale of the Registrable Securities, as the case may be, to
the person asserting any such loss, claim, damage or liability in any case where
such delivery is required by the Securities Act.

       7.2. Holder Indemnification. To the extent permitted by law, each selling
Holder will indemnify and hold harmless the Company, each of its directors,
officers and employees, each person, if any, who controls the Company within the
meaning of the Securities Act, each agent and any underwriter for the Company,
and any other Holder selling securities in such registration statement or any of
its directors, officers, partners, agents or employees or any person who
controls such Holder or underwriter, against any losses, claims, damages or
liabilities (joint or several) to which any of them may become subject, under
the Securities Act, the Exchange Act or other federal or state law or otherwise,
and to reimburse them for any legal or any other expenses reasonably incurred by
them in connection with investigating any claim, or defending any action or
proceeding, insofar as such losses, claims, damages or liabilities (or actions
in respect thereto) arise out of or are based upon any Violation, in each case
to the extent (and only to the extent) that such Violation occurred in reliance
upon and in conformity with written information furnished by or on behalf of
such Holder expressly for use in connection with such registration; provided,
however, that the liability of any Holder hereunder shall be limited to the
amount of proceeds received by such Holder in the offering giving rise to the
Violation or if the offering is terminated, the amount such Holder would have
received; and provided, further, that the indemnity provisions in this Section
7.2 shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability or action if such settlement is effected without the consent
of the Holder (which consent shall not be unreasonably withheld).

       7.3. Notice, Defense and Counsel. Promptly after receipt by an
indemnified party under this Section 7 of notice of the commencement of any
action (including any governmental action), such indemnified party will, if a
claim in respect thereof is to be made against any indemnifying party under this
Section 7, deliver to the indemnifying party a written notice of the
commencement thereof and the indemnifying party shall have the right to
participate in, and, to the extent the indemnifying party so desires, jointly
with any other indemnifying party similarly noticed, to assume and control the
defense thereof with counsel mutually reasonably satisfactory to the parties;
provided, however, that an indemnified party shall have the right to retain its
own counsel, with the fees and expenses to be paid by the indemnifying party, if
representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing
interests between such indemnified party and any other party represented by such
counsel in such proceeding. The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such
action shall

                                      -9-
<PAGE>   10

relieve such indemnifying party of any liability to the indemnified party under
this Section 7 only to the extent the indemnifying party is actually prejudiced
in its ability to defend such action.

       7.4. Contribution in Lieu of Indemnification. If the indemnification
provided for in Sections 7.1 or 7.2 is unavailable, for any reason other than as
specified in the last sentence of Section 7.3, to a person that would have been
an indemnified party in respect of any losses, claims, damages or liabilities
(or actions in respect thereof) referred to therein, then each person that would
have been an indemnifying party thereunder shall, in lieu of indemnifying such
indemnified party, contribute to the amount paid or payable by such indemnified
party as a result of such losses, claims, damages or liabilities (or actions in
respect thereof) in such proportion as is appropriate to reflect the relative
fault of the indemnifying party on the one hand and such indemnified party on
the other in connection with the untrue or alleged untrue statements of a
material fact or omissions which resulted in such losses, claims, damages or
liabilities (or actions in respect thereof). The relative fault shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state
a material fact relates to information supplied by the indemnifying party or
such indemnified party and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.
The amount paid or payable by an indemnified party as a result of the losses,
claims, damages or liabilities (or actions in respect thereof) referred to above
in this Section 7.4 shall include any legal or other expenses in connection with
investigating or defending any such action or claim (which shall be limited as
provided in Section 7.3 if the indemnifying party has assumed the defense of any
such action in accordance with the provisions thereof). No person guilty of
fraudulent misrepresentation (within the meaning of section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation.

       7.5. Survival of Rights and Obligations. The obligations of the Company
and the Holders under this Section 7 shall survive the completion of any
offering of Registrable Securities.

8. REPORTS UNDER EXCHANGE ACT. In order to provide to the Holders the benefits
of Rule 144 under the Securities Act and any other rule or regulation of the SEC
that may at any time permit a Holder to sell securities of the Company to the
public without registration ("Rule 144"), and in order to make it possible for
Holders to register the sale of the Registrable Securities pursuant to a
registration on Form S-3, the Company agrees to:

       8.1. Public Information. Make and keep public information available, as
those terms are understood and defined in Rule 144, at all times after 90 days
after the effective date of the first registration statement filed by the
Company for the offering of its securities to the general public.

       8.2. Exchange Act Registration. Take such action, including the voluntary
registration of its Common Stock under section 12 of the Exchange Act, as is
necessary to enable the Holders to utilize Form S-3 for the sale of their
Registrable Securities, such action to be taken as soon as practicable (but not
later than 90 days) after the end of the fiscal year in which the first
registration statement filed by the Company for the offering of its securities
to the general public is declared effective.

                                      -10-
<PAGE>   11

       8.3. Timely Filing. File with the SEC in a timely manner all reports and
other documents required of the Company under the Securities Act and the
Exchange Act.

       8.4. Compliance; Information. Furnish to any Holder, so long as the
Holder owns any Registrable Securities, forthwith upon request (a) a written
statement by the Company whether it has complied with the reporting requirements
of Rule 144 (at any time after 90 days after the effective date of the first
registration statement filed by the Company), the Securities Act and the
Exchange Act (at any time after it has become subject to such reporting
requirements), or that it qualifies as a registrant whose securities may be
resold in a secondary offering pursuant to Form S-3 (at any time after it so
qualifies), (b) a copy of the most recent annual or quarterly report of the
Company and such other reports and documents so filed by the Company, and (c)
such other information as may be required by Rule 144 in order to permit the
selling of any such securities without registration.

9. LOCK-UP AGREEMENTS. If requested by the lead underwriter in connection with
an underwritten offering, whether under this Agreement or otherwise, the Holders
shall enter into lock-up agreements pursuant to which they will not, for a
period of seven days prior to, and 90 days following, the effective date of a
registration statement for the offering of the Company's securities, or any
other period reasonably requested by the lead underwriter not to exceed 180
days, publicly offer or sell any of the Registrable Securities without the prior
consent of the lead underwriter, provided that (a) the officers and directors of
the Company enter into lock-up agreements with terms at least as restrictive and
(b) the Holders shall be able to offer publicly and sell Registrable Securities
free from the lock-up provisions contemplated by this Section 9 for at least 90
consecutive days in each period of 360 consecutive days.

10. LIMITATIONS ON OTHER REGISTRATION RIGHTS. The Company shall not, without the
prior written consent of the Required Investors, enter into any agreement with
any holder or prospective holder of any securities of the Company which would
allow such holder or prospective holder to (a) require the Company to effect a
registration, or (b) include any securities in any registration filed under
Sections 2 or 3 unless, under the terms of such agreement, such holder or
prospective holder may include such securities in any such registration only to
the extent that the inclusion of such securities will not reduce the amount of
Registrable Securities to be included by the Holders or the Company.

11. GENERAL.

       11.1. Notices. Any notice or other communication in connection with this
Agreement shall be deemed to be delivered if in writing addressed as provided
below and if either (a) actually delivered at such address, whether by telecopy,
overnight or two-day courier (b) in the case of a letter, seven business days
shall have elapsed after the same shall have been deposited in the United States
mails, postage prepaid and registered or certified, return receipt requested or
(c) transmitted to any address outside of the United States, by telecopy and
confirmed by overnight or two-day courier:

                                      -11-
<PAGE>   12

       If to the Company, to it at 11180 Sunrise Valley Drive, Suite 400,
Reston, Virginia 20191, telecopy: (703) 391-9589, telephone: (703) 391-6300, or
at such other address as the Company shall have specified by notice actually
received by the Principal Holders.

       If to the Investors, to the Investors' respective addresses set forth on
Schedule A or B, or at such other address as the Investors shall have specified
by notice actually received by the Company, in each case with a copy to WPC and
Highland.

       If to any other Holder, to it at its address set forth in the securities
registers of the Company.

       11.2. Amendments, Waivers and Consents. Any provision in this Agreement
to the contrary notwithstanding, changes in or additions to this Agreement may
be made, and compliance with any covenant or provision herein set forth may be
omitted or waived, only by written agreement signed by (a) the Company and (b)
the Required Investors and if a copy of such modification shall be delivered to
any Holders who did not execute the same; provided, however, that any such
modification adversely affecting the Management Stockholders in a manner
distinct from the effect of such modification on the other Holders shall require
the written consent of the Management Stockholders holding a majority of the
Registrable Securities then outstanding owned by all Management Stockholders.

       11.3. Binding Effect; Assignment. This Agreement shall be binding upon
and inure to the benefit of the personal representatives, successors and assigns
of the respective parties hereto. The Company shall not have the right to assign
its rights or obligations hereunder or any interest herein without obtaining the
prior written consent of the Investors holding a majority of the Registrable
Securities then outstanding owned by the Investors. The Holders may assign or
transfer their rights and obligations under this Agreement to the extent (a) the
assignment or transfer of such Registrable Securities is permitted by the other
agreements between the respective Holders and the Company and (b) that such
assignee or transferee owns or obtains Registrable Securities having a fair
value of at least $250,000.

       11.4. Severability. If any provision of this Agreement shall be found by
any court of competent jurisdiction to be invalid or unenforceable, such
provision shall, to the maximum extent allowable by law, be modified by such
court so that it becomes enforceable and, as modified, shall be enforced as any
other provision hereof, all the other provisions hereof continuing in full force
and effect.

       11.5. Headings. The headings contained in this Agreement are for
reference purposes only and shall not in any way affect the meaning or
interpretation of this Agreement.

       11.6. Entire Agreement. This Agreement constitutes the entire agreement
of the parties with respect to the subject matter hereof and supersedes all
prior and contemporaneous understandings, whether written or oral.

       11.7. Counterparts. This Agreement may be executed in counterparts, all
of which together shall constitute the same instrument.

                                      -12-
<PAGE>   13

       11.8. Joinder of Additional Parties. Future holders of the Company's
capital stock (or of options, warrants, conversion rights or other rights to
acquire such capital stock) may become party hereto as a Holder by executing a
joinder hereto in a form reasonably satisfactory to the Company.

       11.9. Choice of Law. This Agreement shall be governed by and construed in
accordance with the laws (other than the conflict of laws rules) of the State of
Delaware.

               [the remainder of this page is intentionally blank]

                                      -13-
<PAGE>   14

       The parties have caused this Agreement to be duly executed under seal as
of the date first above written.

                                 DIGITAL COMMERCE CORPORATION

                                 By   /s/ Tony Bansal
                                   -----------------------------------------
                                      Title: President

                                 INVESTORS:

                                 WESTON PRESIDIO CAPITAL III, L.P.

                                 By:      WESTON PRESIDIO CAPITAL
                                          MANAGEMENT III, L.P.,
                                          its General Partner

                                 By    /s/ Carlo A. von Schroeter
                                   -----------------------------------------
                                       General Partner

                                 WESTON PRESIDIO ENTREPRENEUR FUND,
                                 L.P.

                                 By:      WESTON PRESIDIO CAPITAL
                                          MANAGEMENT III, L.P.,
                                          its General Partner

                                          By   /s/ Carlo A. von Schroeter
                                            --------------------------------
                                               Title:

                                 HIGHLAND CAPITAL PARTNERS V LIMITED
                                 PARTNERSHIP

                                 By:      HIGHLAND MANAGEMENT
                                          PARTNERS V LIMITED PARTNERSHIP,
                                          its General Partner

                                 By:      HIGHLAND MANAGEMENT
                                          PARTNERS V, INC.,
                                          its General Partner

                                          By /s/ Illegible
                                            --------------------------------
                                               Authorized Officer

<PAGE>   15

                                    HIGHLAND CAPITAL PARTNERS V-B
                                    LIMITED PARTNERSHIP

                                    By:      HIGHLAND MANAGEMENT
                                             PARTNERS V LIMITED PARTNERSHIP,
                                             its General Partner

                                    By:      HIGHLAND MANAGEMENT
                                             PARTNERS V, INC.,
                                             its General Partner

                                             By /s/ Illegible
                                               --------------------------------
                                                  Authorized Officer

                                    HIGHLAND ENTREPRENEURS' FUND V
                                    LIMITED PARTNERSHIP

                                    By:      HEF V LIMITED PARTNERSHIP, its
                                             General Partner

                                    By:      HIGHLAND MANAGEMENT
                                             PARTNERS V, INC.,
                                                      its General Partner

                                             By /s/ Illegible
                                               --------------------------------
                                                  Authorized Officer

                                    eSENTINEL VENTURE CAPITAL, L.L.C.

                                    By:  SENTINEL CAPITAL PARTNERS, L.P., its
                                    member

                                    By:  SENTINEL PARTNERS, L.P., its general
                                    partner

                                    By:  SENTINEL PARTNERS, INC., its general
                                    partner

                                    By /s/ Illegible
                                      -----------------------------------------
                                            Name:
                                            Title:

<PAGE>   16

                                  eSENTINEL VENTURE CAPITAL II, L.L.C.

                                  By:  SENTINEL CAPITAL PARTNERS II, L.P.,
                                  its member

                                  By:  SENTINEL PARTNERS II, L.P., its general
                                  partner

                                  By:  SENTINEL PARTNERS II, INC., its general
                                  partner

                                  By /s/ Illegible
                                     ------------------------------------------
                                          Name:
                                          Title:

                                  FRANK E. RICHARDSON

                                  /s/ Frank E. Richardson
                                  --------------------------------------------

                                  MICHAEL J. MYERS

                                  /s/ Michael J. Myers
                                  --------------------------------------------

<PAGE>   17

                              SAP INVESTMENTS, INC.

                              By     /s/  Kevin S. McKay
                                --------------------------------------------
                                   Name:  Kevin S. McKay
                                   Title: Chief Executive Officer

                              ADAM SOLOMON

                              /s/ Adam Solomon
                              -----------------------------------------------

                              THE ROMAN ARCH FUND L.P.

                              By  /s/ Robert Willard
                                --------------------------------------------
                                      Robert Willard, its E.V.P.

                              THE ROMAN ARCH FUND II L.P.

                              By  /s/ Robert Willard
                                --------------------------------------------
                                      Robert Willard, its E.V.P.

                              CHELSEY CAPITAL CORP.

                              By        /s/ Stuart Feldman
                                --------------------------------------------
                                      Name:  Stuart Feldman
                                      Title: President

<PAGE>   18

                              RRE VENTURES II L.P.

                              By  /s/ Andrew L. Zalasin
                                --------------------------------------------
                                      Andrew L. Zalasin, its General Partner

                              RRE VENTURES FUND II L.P.

                              By /s/ Andrew L. Zalasin
                                --------------------------------------------
                                     Andrew L. Zalasin, its General Partner

<PAGE>   19

                             MANAGEMENT STOCKHOLDERS

                             TONY BANSAL

                             /s/ Tony Bansal
                             ----------------------------------------------

                             WILLIAM H. SEIPPEL

                             /s/ William H. Seippel
                             ----------------------------------------------

                             ATOCHA, L.P.

                             By /s/ Thomas Cirrito
                               --------------------------------------------
                                    Thomas Cirrito, general partner

<PAGE>   20

                           SCHEDULE A TO REGISTRATION
                                RIGHTS AGREEMENT

                                    Investors

<TABLE>
<CAPTION>
                                                        Number of Common
Name and Address                                        Shares at Closing
                                                        (assuming conversion of
                                                        Series D Preferred)

<S>                                                  <C>
Weston Presidio Capital III, L.P.                       2,448,907
One Federal Street
Boston, MA 02210
Telephone:  (617) 988-2500
Telecopy:    (617) 988-2515

Weston Presidio Entrepreneur Fund, L.P.                   121,902
One Federal Street
Boston, MA 02210
Telephone:  (617) 988-2500
Telecopy:    (617) 988-2515

Highland Capital Partners V                             1,814,991
Limited Partnership
Two International Place
Boston, MA 02110
Telephone:  (617) 531-1500
Telecopy:  (617) 531-1550

Highland Capital Partners V -B                            467,887
Limited Partnership
Two International Place
Boston, MA 02110
Telephone:  (617) 531-1500
Telecopy: (617) 531-1550

Highland Entrepreneurs' Fund V                            287,931
Limited Partnership
Two International Place
Boston, MA 02110
Telephone: (617) 531-1500
Telecopy: (617) 531-1550
</TABLE>

<PAGE>   21

<TABLE>
<S>                                           <C>
eSentinel Venture Capital, L.L.C.                  51,373
777 Third Avenue -- 32nd floor
New York, New York  10017
Telephone:  (212) 688-3100
Telecopy:    (212) 688-6513

eSentinel Venture Capital II, L.L.C.              856,945
777 Third Avenue -- 32nd floor
New York, New York  10017
Telephone:  (212) 688-3100
Telecopy:    (212) 688-6513

Michael J. Myers                                   17,156
First Century Partners
29 Airpark Road
Princeton, New Jersey  08540
Telephone:  (609) 683-8848
Telecopy:    (609) 683-8123

Frank E. Richardson                                17,156
F.E. Richardson & Co., Inc.
245 Park Avenue
New York, New York  10167
Telephone: (212) 490-9271
Telecopy:   (212) 490-0015

SAP Investments, Inc.                             856,937
300 Delaware Avenue, Suite 1704
Wilmington, DE 19801
Telephone: (610) 661-1811
Telecopy:   (610) 661-3260
</TABLE>

                                       -2-

<PAGE>   22

<TABLE>
<S>                                           <C>
Adam Solomon                                      514,162
Shaker Investments
237 Park Avenue - Suite 801
New York, New York  10017
Telephone: (212) 692-3662
Telecopy:   (212) 692-3609

The Roman Arch Fund L.P.                           64,270
One New York Plaza, 18th Floor
New York, NY  10021

The Roman Arch Fund II L.P.                        64,270
One New York Plaza, 18th Floor
New York, NY 10021

Chelsey Capital Corp.                              42,847
1370 Avenue of the Americas
26th Floor
New York, NY  10019
Telephone: (212) 586-6479
Telecopy: (212) 765-3112

RRE Ventures II L.P.                              434,182
126 East 56th Street
New York, NY  10022
Telephone: (212) 418-5105
Telecopy: (212) 758-8369

RRE Ventures Fund II L.P.                          79,980
126 East 56th Street
New York, NY  10022
Telephone: (212) 418-5105
Telecopy: (212) 758-8369
                                                ---------
Total                                           8,140,896
</TABLE>

                                       -3-

<PAGE>   23

                           SCHEDULE B TO REGISTRATION
                                RIGHTS AGREEMENT

                             Other Preferred Holders

<TABLE>
<CAPTION>
Name and Address                             Number of Common Shares
                                             at Closing (assuming
                                             conversion of Series B and
                                             Series C Preferred)

<S>                                          <C>
Atocha, L.P                                  11,032,515
7716 Carleton Place
McLean, Virginia 22102

                                             ----------
Total                                        11,032,515
</TABLE>

<PAGE>   24

                           SCHEDULE C TO REGISTRATION
                                RIGHTS AGREEMENT

                             Management Stockholders

<TABLE>
<CAPTION>
                                                         Number of
Stockholders and Address                                 Shares of Common Stock
                                                         held at Closing

<S>                                                     <C>
Tony Bansal                                                25,000
Digital  Commerce Corporation
11180 Sunrise Valley Drive - Suite 400
Reston, Virginia 20191
Telephone:  (703) 391-6300
Telecopy:  (703) 391-9589

William H. Seippel                                       1,573,427
Digital  Commerce Corporation
11180 Sunrise Valley Drive - Suite 400
Reston, Virginia 20191
Telephone:  (703) 391-6300
Telecopy:  (703) 391-9589

                                                         ---------
TOTAL                                                    1,598,427
</TABLE>

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