Document:

<PAGE>   1
                                                                    EXHIBIT 10.5

THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE OF THIS WARRANT HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"),
AND NEITHER THIS WARRANT NOR SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE
SOLD, TRANSFERRED, PLEDGED OR DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR
AN EXEMPTION UNDER SUCH ACT AND THE RULES AND REGULATIONS THEREUNDER.

                         VIASOURCE COMMUNICATIONS, INC.

                              COMMON STOCK WARRANT

                     THE TRANSFERABILITY OF THIS WARRANT IS

                      RESTRICTED AS PROVIDED IN SECTION 7.

Void after August 3, 2006                           Right to Purchase _______
                                                    shares of Common Stock
                                                    (subject to adjustment)

No.

<PAGE>   2

                                    PREAMBLE

                  VIASOURCE COMMUNICATIONS, INC. (the "Company"), a New Jersey
corporation, hereby certifies that, for value received, _____________________ .
("Holder") is entitled, subject to the terms set forth below, to purchase from
the Company at any time commencing on February 3, 2002 and ending at 5:00 P.M.
New York time, on August 3, 2006, _______ fully paid and nonassessable voting
shares of the Company's Common Stock, no par value per share, at the exercise
price per share of $.31, subject to adjustment as herein provided (the "Exercise
Price"). (Hereinafter, (i) said shares of Common Stock, together with any other
equity securities which may be issued by the Company with respect thereto or in
substitution therefor, are referred to as the "Common Stock", (ii) the shares of
the Common Stock purchasable hereunder or under any other Warrant (as
hereinafter defined) are referred to individually as a "Warrant Share" and
collectively as the "Warrant Shares", (iii) the price payable for each of the
Warrant Shares hereunder is referred to as the "Per Share Warrant Price", (iv)
this Warrant and all Warrants hereafter issued in exchange or substitution for
this Warrant or such similar Warrants are referred to as the "Warrants" and (v)
the holder of this Warrant, or registered assigns, is referred to as the
"Holder" and the holder of this Warrant and all other Warrants or Warrant Shares
issued upon the exercise of any Warrant are referred to as the "Holders".) The
Per Share Warrant Price and the number of Warrant Shares is subject to
adjustment as hereinafter provided. Capitalized terms used but not defined
herein shall have the respective meanings assigned to such terms in the Term B
Convertible Note and Warrant Purchase Agreement dated as of August 3, 2001 by
and among the Company and the purchasers signatory thereto.

                  1. EXERCISE OF WARRANT.

                           (a) PAYMENT OF EXERCISE PRICE. Exercise of this
 Warrant by the Holder shall be made in one or more parts in minimum blocks of
 20% of the Warrant Shares purchasable hereunder (other than the last block of
 Warrant Shares purchasable hereunder) by the surrender of this Warrant (with
 the subscription form at the end hereof, or a reasonable facsimile thereof,
 duly executed) at the Company's principal offices, together with proper payment
 of the Per Share Warrant Price, as adjusted from time to time pursuant to
 Section 3 hereof. Payment for Warrant Shares shall be made by certified or
 official bank check payable to the order of the Company. If this Warrant is
 exercised in part, this Warrant must be exercised for a number of whole shares
 of Common Stock, and the Holder is entitled to receive a new Warrant of like
 tenor covering the Warrant Shares for which this Warrant may then be exercised.
 Upon such surrender of this Warrant, the Company will (a) issue a certificate
 or certificates in the name of the Holder (or any permitted designee of the
 Holder to whom the Warrant is transferred in compliance with Section 7 hereof)
 for the largest number of whole shares of the Common Stock to which the Holder
 shall be entitled and, if this Warrant is exercised in whole, in lieu of any
 fractional share of the Common Stock to which the Holder shall be entitled, pay
 to the Holder cash in an amount equal to the fair market value of such
 fractional share (determined by reference to the closing price per share of
 Common Stock on the date immediately preceding the date of exercise hereof on
 the principal securities exchange on which shares of Common Stock are traded or

                                       2
<PAGE>   3

 in such reasonable manner as the members of the Board of Directors of the
 Company (other than any person who, directly or indirectly, has a beneficial
 ownership interest in this Warrant) shall determine), and (b) deliver the other
 securities and properties receivable upon the exercise of this Warrant, or the
 proportionate part thereof if this Warrant is exercised in part, pursuant to
 the provisions of this Warrant.

                           (b) "CASH-LESS" EXERCISE. Notwithstanding any
 provisions herein to the contrary, if the fair market value of one share of
 Common Stock is greater than the Per Share Warrant Price (at the date of
 calculation as set forth below), in lieu of exercising this Warrant for cash,
 the Holder may elect to receive shares of Common Stock equal to the value (as
 determined below) of this Warrant (or the portion thereof being canceled) by
 surrender of this Warrant at the principal office of the Company (with the
 subscription form at the end hereof, or a reasonable facsimile thereof, duly
 executed) in which event the Company shall issue to the Holder a number of
 shares of Common Stock computed using the following formula:

                  X=         Y(A-B)
                             ------
                               A

Where                   X           =       the number of shares of Common
                                            Stock to be issued to the Holder

                        Y           =       the number of shares of Common
                                            Stock purchasable under this Warrant
                                            or, if only a portion of this
                                            Warrant is being exercised, the
                                            portion of this Warrant being
                                            canceled (at the date of such
                                            calculation)

                        A           =       the fair market value of one share
                                            of the Company's Common Stock (at
                                            the date of such calculation)

                        B           =       Per Share Warrant Price (as adjusted
                                            to the date of such calculation)

For purposes of the above calculation, the fair market value of one share of
Common Stock shall be determined by the Company's Board of Directors in good
faith (other than any person who, directly or indirectly, has a beneficial
ownership interest in this Warrant); provided, however, that fair market value
shall be, if the Common Stock is listed or admitted for trading on a securities
exchange, the last reported sales price of such Common Stock on the principal
exchange on which the Common Stock is listed or admitted for trading (which
shall be for consolidated trading if applicable to such exchange), or if not
listed or admitted for trading, the last reported bid price of the applicable
security in the over-the-counter market.

                  2. RESERVATION OF WARRANT SHARES. The Company agrees that,
prior to the expiration of this Warrant, the Company will at all times have
authorized and in reserve, and will keep available, solely for issuance or
delivery upon the exercise of this Warrant, the shares of Common Stock and other
securities and properties as from time to time shall be receivable upon the
exercise of this Warrant, free and clear of all restrictions, except as provided
in applicable securities laws, on sale or transfer and free and clear of all
preemptive rights and rights of first refusal.

                                       3
<PAGE>   4

                  3. ADJUSTMENTS.

                           (a) STOCK DIVIDENDS, RECLASSIFICATIONS, CERTAIN
MERGERS, ETC. If the Company shall at any time prior to the expiration of this
Warrant and prior to the exercise thereof: (i) declare or pay to the holders of
Common Stock a dividend payable in any kind of shares of stock of the Company;
(ii) change, divide, combine or otherwise reclassify its Common Stock into the
same or different number of shares with or without par value, or into shares of
any class or classes; (iii) consolidate or merge with, or transfer all or
substantially all of its property to, any other affiliated corporation; or (iv)
make any distribution of its assets to holders of its Common Stock as a
liquidation or partial liquidation dividend or by way or return of capital;
then, upon the subsequent exercise of this Warrant, the Holder shall receive for
the Per Share Warrant Price, in addition to or in substitution for the Warrant
Shares which the Holder would otherwise then be entitled upon such exercise,
such additional shares of Common Stock or scrip of the Company, or such
reclassified shares of Common Stock of the Company, or such shares or securities
or assets of the entity resulting from such consolidation or merger or transfer
of such assets of the Company, which the Holder would have been entitled to
receive had the Holder exercised the Warrant prior to the happening of any of
the foregoing events.

                           (b) CHANGES IN CAPITAL STOCK. If, prior to the
expiration of this Warrant and prior to the exercise thereof, any capital
reorganization or reclassification of the capital stock of the Company, or
consolidation or merger of the Company with or into, or transfer of all or
substantially all of its property to, any Person, or sale, transfer or other
disposition of all or substantially all of its properties to any Person, shall
be effected, then, as a condition of such reorganization, reclassification,
consolidation, merger, sale, transfer or other disposition, lawful and adequate
provision shall be made whereby each Holder shall thereafter have the right to
purchase and receive upon the basis and upon terms and conditions herein
specified and in lieu of the shares of the Common Stock immediately theretofore
issuable upon the exercise of the Warrants, such shares of stock, securities or
properties, if any, as may be issuable or payable with respect to or in exchange
for a number of outstanding shares of such Common Stock equal to the number of
shares of such Common Stock immediately theretofore issuable upon the exercise
of the Warrants had such reorganization, reclassification, consolidation,
merger, sale, transfer or other disposition not taken place, and in any such
case appropriate provisions shall be made with respect to the rights and
interests of each Holder to the end that the provisions hereof (including
without limitation provisions for adjustment of the number of Warrant Shares)
shall thereafter be applicable, as nearly as equivalent as may be practicable in
relation to any shares of stock, securities or properties thereafter deliverable
upon the exercise thereof. The Company shall not effect any such reorganization,
reclassification, consolidation, merger, sale, transfer or other disposition,
unless prior to or simultaneously with the consummation thereof the successor
Person purchasing or otherwise acquiring such properties shall assume, by
written instrument executed and mailed or delivered to the Holders the
obligation to deliver such shares of stock, securities or properties as, in
accordance with the foregoing provisions, such Holders may be entitled to
acquire. The above provisions of this clause shall similarly apply to successive
reorganizations, reclassifications, consolidations, mergers, sales, transfers or
other dispositions.

                                       4
<PAGE>   5

                           (c) DE MINIMIS ADJUSTMENTS. No adjustments required
by this Section 3 in the number of Warrant Shares shall be required unless such
adjustment would require an increase or decrease of at least one tenth of one
percent (.1%) in the number of Warrant Shares; provided, however, that any
adjustments which by reason of this Section 3(c) are not required to be made
shall be carried forward and taken into account in any subsequent adjustment.
All calculations shall be made to the nearest full share.

                           (d) NON-CASH DIVIDENDS, DISTRIBUTION OF ADDITIONAL
SHARES, LIQUIDATION. If the Board of Directors of the Company shall (i) declare
any dividend or other distribution with respect to the Common Stock, other than
a cash dividend, (ii) offer to the holders of shares of Common Stock any
additional shares of Common Stock, any securities convertible into or
exercisable for shares of Common Stock or any rights to subscribe thereto, or
(iii) propose a dissolution, liquidation or winding up of the Company, the
Company shall mail notice thereof to the Holders of the Warrants not less than
fifteen (15) days prior to the record date fixed for determining shareholders
entitled to participate in such dividend, distribution, offer or subscription
right or to vote on such dissolution, liquidation or winding up.

                           (e) FURTHER ADJUSTMENTS BY THE BOARD. Notwithstanding
the foregoing, if at any time or from time to time the Company shall take any
action affecting its Common Stock or any other capital stock of the Company, not
otherwise described in any of the foregoing subsections of this Section 3, then,
if the failure to make any adjustment would, in the reasonable opinion of the
members of the Board of Directors of the Company (other than any person who,
directly or indirectly, has a beneficial ownership interest in this Warrant),
have a materially adverse effect upon the rights of the Holder of the Warrant,
the number of shares of Common Stock or other stock comprising a Warrant Share,
or the Per Share Warrant Price, shall be adjusted in such manner and at such
time as the members of the Board of Directors of the Company (other than any
person who, directly or indirectly, has a beneficial ownership interest in this
Warrant) may in good faith determine to be equitable under the circumstances.

                           (f) NOTICE OF ADJUSTMENT. Upon any adjustment or
modification of the rights of the Holder of this Warrant in accordance with this
Section 3, the Company shall promptly cause its Chief Financial Officer to
provide a notice to the Holder setting forth such adjustment or modification, a
brief statement of the facts requiring such adjustment or modification and the
manner of computing the same.

                           (g) FORM OF WARRANT CERTIFICATE. The form of this
Warrant Certificate need not be changed because of any adjustment made pursuant
to this Section 3 and any Warrant Certificate issued after such change may state
the same Exercise Price and the same number of shares of Common Stock as are
stated in this Warrant Certificate as initially issued. However, the Company may
at any time in its sole discretion (which shall be conclusive) make any change
in the form of this Warrant Certificate that it may deem appropriate and that
does not affect the substance thereof. Any Warrant Certificate thereafter issued
or countersigned, whether in exchange or substitution for an outstanding Warrant
Certificate or otherwise, may be in the form as so changed.

                                       5
<PAGE>   6

         4. REGISTRATION AND LISTING OF COMMON STOCK. If any shares of Common
Stock required to be reserved for purposes of exercise of the Warrants require
registration with or approval of any governmental authority under any Federal or
state law (other than the Securities Act of 1933, as amended (the "Securities
Act")), before such shares may be issued upon being exercised, the Company will,
at its expense and as expeditiously as possible, use its best efforts to cause
such shares to be duly registered or approved, as the case may be. If the shares
of Common Stock issuable upon exercise of the Warrants shall be registered by
the Company under the Securities Act or similar statute then in force upon being
exercised, then the registration rights described in Section 8 hereof shall no
longer be in full force and effect. If and so long as shares of Common Stock are
listed on any national securities exchange, the Company will, at its expense,
obtain promptly and maintain the approval for listing on each such exchange upon
official notice of issuance of shares of Common Stock issuable upon exercise of
the then outstanding Warrants and maintain the listing of such shares after
their issuance so long as the Company maintains the listing of the same class of
such shares; and the Company will also list on such national securities
exchange, will register under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), and will maintain such listing of, any other securities
that at any time are issuable upon exercise of the Warrants, if and at the time
that any securities of the same class shall be listed on such national
securities exchange by the Company.

         5. FULLY PAID STOCK; TAXES. The Company agrees that the shares of the
Common Stock, or any other capital stock, represented by each and every
certificate for Warrant Shares delivered on the exercise of this Warrant shall,
at the time of such delivery, be validly issued and outstanding, fully paid and
nonassessable, and not subject to preemptive rights or rights of first refusal,
and the Company will take all such actions as may be necessary to assure that
the par value or stated value, if any, per share of the Common Stock is at all
times equal to or less than the then Per Share Warrant Price. The Company
further covenants and agrees that it will pay, when due and payable, any and all
Federal and state stamp, original issue or similar taxes which may be payable in
respect of the issue of any Warrant Share or certificate therefor.

         6. WARRANT HOLDER NOT SHAREHOLDER. Except as otherwise provided herein,
this Warrant does not confer upon the Holder any right to vote or to consent to
or receive notice as a shareholder of the Company, as such, in respect of any
matters whatsoever, or any other rights or liabilities as a shareholder, prior
to the exercise hereof.

         7. TRANSFER RESTRICTIONS.

                  (a) The Holder of this Warrant by acceptance hereof agrees
that the transfer of this Warrant and the Warrant Shares are subject to certain
provisions of applicable securities laws, which include restrictions on transfer
of this Warrant and the Warrant Shares.

                  (b) Notwithstanding the foregoing, if, at the time of any
transfer or exchange of this Warrant or the Warrant Shares, this Warrant or the
Warrant Shares shall not be registered under the Securities Act, the Company may
require that (i) as a condition of allowing such transfer or exchange, the
Holder or transferee of this Warrant or the Warrant Shares, as the case may be,
furnish to the Company an opinion of counsel reasonably acceptable to the
Company and (ii) each Warrant Share bear a legend substantially in the following
form:

                                       6
<PAGE>   7

                  The securities represented by this certificate have not been
                  registered under the Securities Act of 1933, as amended, and
                  neither the securities nor any interest therein may be sold,
                  transferred, pledged or disposed of in the absence of such
                  registration or an exemption under such Act and the rules and
                  regulations thereunder.

                  (c) Subject to clauses (a) and (b) of this Section 7, title to
this Warrant may be transferred by endorsement (by the Holder executing the
Assignment Form annexed hereto) and delivery in the same manner as a negotiable
instrument transferable by endorsement and delivery.

         8. REGISTRATION RIGHTS. The Company grants to the Holder certain
customary registration rights as described in that certain Registration Rights
Agreement, dated as of the date hereof, by and among the Company and each of the
signatories thereto.

         9. INFORMATION TO HOLDER. The Company agrees that it shall deliver to
the Holder promptly after their becoming available copies of all financial
statements, reports and proxy statements which the Company shall have sent to
its shareholders generally.

         10. EXCHANGE OF WARRANTS. On surrender for exchange of any Warrant,
properly endorsed on the Assignment Form and subject to the provisions of this
Warrant, including Section 7 hereof, to the Company, the Company at its expense
will issue and deliver to or on the order of the holder thereof a new Warrant or
Warrants of like tenor, in the name of such holder or as such holder (on payment
by such holder or any applicable transfer taxes) may direct, calling in the
aggregate on the face or faces thereof for the number of shares of Common Stock
called for on the face or faces of the Warrant or Warrants so surrendered.

         11. REPLACEMENT OF WARRANTS. On receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of any
Warrant and, in the case of any such loss, theft or destruction of any Warrant,
on delivery of an indemnity agreement or security reasonably satisfactory in
form and amount to the Company or, in the case of any such mutilation, on
surrender and cancellation of such Warrant, the Company at its expense will
execute and deliver, in lieu thereof, a new Warrant of like tenor.

         12. NOTICE, ETC. All notices and other communications from the Company
to the Holder shall be mailed by first class registered or certified mail,
postage prepaid, at such address as may have been furnished to the Company in
writing by the Holder or, until the Holder furnishes to the Company an address,
then to, and at the address of, the last holder of this Warrant who has so
furnished an address to the Company.

         13. MISCELLANEOUS. This Warrant and any term hereof may be changed,
waived, discharged or terminated only by an instrument in writing signed by the
party against which enforcement of such change, waiver, discharge or termination
is sought. This Warrant is being delivered in the State of New York and shall be
construed and enforced in accordance with and governed by its laws. The headings
in this Warrant are for purposes of reference only, and shall not limit or
otherwise affect any of the terms hereof. All nouns and pronouns used herein
shall be deemed to refer to the masculine, feminine or neuter, as the identity
of the person or persons to whom reference is made herein may require.

                                       7
<PAGE>   8

Dated:   August __, 2001                 VIASOURCE COMMUNICATIONS, INC.

                                          By:
                                              --------------------------------
                                              Name:  Craig Russey
                                              Title:  Chief Executive Officer

                                       8
<PAGE>   9

                                SUBSCRIPTION FORM

         (To be executed upon exercise of Warrant pursuant to Section 1)

         The undersigned hereby irrevocably elects to exercise the right of
purchase represented by the within Warrant for, and to purchase thereunder,
_________ shares of Common Stock, no par value per share, of Viasource
Communications, Inc. as provided for in Section 1, and [tenders herewith payment
of the purchase price in full in the form of cash or a certified or official
bank check in the amount of $______________] [tenders herewith payment of the
purchase price in full by presentation of the within Warrant in accordance with
Section 1(b)].

         Please issue a certificate or certificates for such Common Stock in the
name of, and pay any cash for any fractional share to:

                  Name
                       -----------------------------------------------------
                       (Please Print Name, Address and Social Security No.)

                 Address
                       -----------------------------------------------------

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

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

                  NOTE:    The above name should correspond exactly with the
                           name on the first page of this Warrant or with the
                           name of the assignee appearing in the assignment form
                           below.

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

         And if said number of shares shall not be all the shares purchasable
under the within Warrant, a new Warrant is to be issued in the name of said
undersigned for the balance remaining of the shares purchasable thereunder.

<PAGE>   10

                                 ASSIGNMENT FORM

                  FOR VALUE RECEIVED, the undersigned registered owner of the
Warrant hereby sells, assigns and transfers unto the Assignee named below all of
the rights of the undersigned under the within Warrant, with respect to the
number of shares of Common Stock, no par value per share, set forth below:

Name of Assignee                   Address                      No. of Shares

and does hereby irrevocably constitute and appoint ________________________
Attorney to make such transfer on the books of Viasource Communications, Inc.,
maintained for the purpose, with full power of substitution in the premises.

         The undersigned Assignee acknowledges that this Warrant and the shares
of Common Stock to be issued upon exercise hereof are being acquired for
investment and that the Assignee will not offer, sell or otherwise dispose of
this Warrant or any shares of stock to be issued upon exercise hereof except
under circumstances which will not result in a violation of the Securities Act
of 1933, as amended, or any state securities laws. Further, the Assignee has
acknowledged that upon exercise of this Warrant, the Assignee shall, if
requested by the Company, confirm in writing, in a form satisfactory to the
Company, that the shares of Common Stock so purchased are being acquired for
investment and not with a view toward distribution or resale.

Dated:
        ----------------------            -------------------------------------
                                          Signature of Holder

Dated:
        ----------------------            -------------------------------------
                                          Signature of Assignee<PAGE>   1
                                                                    EXHIBIT 10.6

                         VIASOURCE COMMUNICATIONS, INC.

                          REGISTRATION RIGHTS AGREEMENT

                           DATED AS OF AUGUST 3, 2001

<PAGE>   2

                                TABLE OF CONTENTS
<TABLE>
<CAPTION>

                                                                                                       PAGE
                                                                                                       ----
<S>                                                                                                     <C>
VIASOURCE COMMUNICATIONS, INC............................................................................1

REGISTRATION RIGHTS AGREEMENT............................................................................1

Article I DEFINITIONS....................................................................................1

     Section 1.01.       Defined Terms...................................................................1

Article II REGISTRATION RIGHTS...........................................................................5

     Section 2.01.       Demand Registration.............................................................5
     Section 2.02.       Piggy-Back Registration.........................................................6
     Section 2.03.       Form S-3 Registration...........................................................7
     Section 2.04.       Registration Expenses...........................................................8
     Section 2.05.       Registration Procedures.........................................................9
     Section 2.06.       Indemnification................................................................10
     Section 2.07.       Information by the Holders.....................................................12
     Section 2.08.       Rule 144 Reporting.............................................................12
     Section 2.09.       Assignability..................................................................12

Article III CERTAIN REPRESENTATIONS AND COVENANTS.......................................................12

     Section 3.01.       Lender Representation..........................................................12
     Section 3.02.       Company Representations........................................................13
     Section 3.03.       Company Covenants..............................................................13

Article IV MISCELLANEOUS................................................................................13

     Section 4.01.       Injunctive Relief..............................................................13
     Section 4.02.       Further Assurances.............................................................14
     Section 4.03.       Governing Law..................................................................14
     Section 4.04.       Amendment; Waiver..............................................................14
     Section 4.05.       Binding Effect.................................................................14
     Section 4.06.       Invalidity of Provision........................................................14
     Section 4.07.       Counterparts...................................................................14
     Section 4.08.       Notices........................................................................14
     Section 4.09.       Headings.......................................................................14
     Section 4.10.       Expiration of Rights...........................................................14
     Section 4.11.       Entire Agreement...............................................................15

Schedule 1               Addresses for Notices
Schedule 2               Certain Lender Agreements Regarding Capital Stock
Schedule 3               Certain Company Agreements Regarding Capital Stock
Schedule 4               Certain Debt and Warrant Holders of the Company

</TABLE>

                                       i
<PAGE>   3

                         VIASOURCE COMMUNICATIONS, INC.

                          REGISTRATION RIGHTS AGREEMENT

                  This Registration Rights Agreement dated as of August 3, 2001
(this "Agreement") by and among Viasource Communications, Inc., a New Jersey
corporation (the "Company"), and each of the individuals or entities signatory
hereto (each a "Lender" and together the "Lenders").

                              W I T N E S S E T H:

                  WHEREAS, the Company, the Agent and the Lenders have entered
into a Second Amended and Restated Credit Agreement dated as of the date hereof
(the "Credit Agreement");

                  WHEREAS, pursuant to the terms and conditions of Amendment No.
7 to Amended and Restated Credit Agreement ("Amendment No. 7") dated as of July
5, 2001 among the Company, the Company's Subsidiaries and GECC, the Company has
agreed to issue the GECC Warrants;

                  WHEREAS, pursuant to the terms and conditions of the Term B
Convertible Note and Warrant Purchase Agreement (the "Note Purchase Agreement")
dated as of the date hereof among the Company and the Term B Lenders, each of
the Term B Lenders has agreed to purchase the Term B Notes and Lender Warrants;

                  WHEREAS, the Company and the Lenders desire to provide for
certain arrangements with respect to the registration of capital stock of the
Company under the Securities Act;

                  NOW, THEREFORE, in consideration of the premises and the
mutual covenants herein contained and other good and valuable consideration the
receipt and adequacy of which are hereby acknowledged, the parties hereto agree
as follows:

                                   Article I

                                   DEFINITIONS

                  Section 1.01. DEFINED TERMS. All terms capitalized but not
defined herein shall have the meanings attributable to such terms in the Note
Purchase Agreement, except where the context otherwise requires. The following
additional terms when used in this Agreement, including its preamble and
recitals, shall, except where the context otherwise requires, have the following
meanings, such meanings to be equally applicable to the singular and plural
forms thereof:

                  "AGENT" shall have the meaning ascribed to such term in the
Credit Agreement.

<PAGE>   4

                  "AFFILIATE" shall mean, with respect to any Person, any person
that, directly or indirectly, controls, is controlled by or is under common
control with such Person. For the purposes of this definition, "control"
(including, with correlative meanings, the terms "controlled by" and "under
common control with"), as used with respect to any Person, shall mean the
possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of such Person, whether through the
ownership of voting securities or by contract or otherwise.

                  "AMENDMENT NO. 7" shall have the meaning set forth in the
second recital to this Agreement.

                  "BANCBOSTON" shall mean BancBoston Investments Inc.

                  "BOARD OF DIRECTORS" shall mean the Board of Directors of the
Company.

                   "CAPITAL STOCK" means all of the (i) Common Stock and (ii)
other equity and debt securities of the Company, including Share Equivalents
and, where applicable, any obligation exercisable for, convertible into or
exchangeable for any equity securities of the Company.

                  "CLOSING DATE" shall mean August 3, 2001.

                  "COMMISSION" shall mean the Securities and Exchange
Commission.

                  "COMMON STOCK" shall mean the Company's common stock, no par
value per share as authorized on the date hereof and as increased or decreased
from time to time.

                  "CREDIT AGREEMENT" shall have the meaning set forth in the
first recital to this Agreement.

                  "CREST" shall mean Crest Communications Partners II LP and any
Affiliate thereof (but not including the Company or Communication Resources
Incorporated).

                  "EXPIRATION DATE" shall mean, subject to the Company remaining
a public reporting company under the Exchange Act, the two year anniversary of
the earlier of (i) the later of the date of the last issuance of (A) the Term B
Share Equivalents or (B) the Warrant Share Equivalents or (ii) the fifth
anniversary of the Closing Date.

                  "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934,
as amended.

                  "FULLY DILUTED COMMON STOCK" shall mean the shares of Common
Stock after giving effect to the exercise and conversion of any options, rights
and warrants to purchase shares of Common Stock and securities convertible into
shares of Common Stock.

                  "GATEWAY WARRANT" shall have the meaning set forth in Section
3.02.

                                       2
<PAGE>   5

                  "GECC" shall mean General Electric Capital Corporation.

                  "GECC SHARE EQUIVALENTS" shall mean those shares of Common
Stock issuable upon exercise of the GECC Warrants.

                  "GECC WARRANTS" shall mean the warrants issued to GECC
pursuant to Amendment No. 7.

                  "HOLDER" shall mean any Lender (or such Lender's assignee
pursuant to Section 2.09 hereof).

                  "LENDER INITIATING HOLDERS" shall have the meaning set forth
in Section 2.01(a).

                  "LENDER WARRANT SHARE EQUIVALENTS" shall mean those shares of
Common Stock issuable upon exercise of the Lender Warrants.

                  "LENDER WARRANTS" shall mean the warrants issued to the Term B
Lenders pursuant to the Note Purchase Agreement and the Credit Agreement.

                  "JACKSON" shall mean Jackson National Life Insurance Company
and its Affiliates, including, without limitation, Old Hickory Fund I, LLC.

                  "NOTE PUCHASE AGREEMENT" shall have the meaning set forth in
the third recital to this Agreement.

                  "ORIGINAL REGISTRABLE SECURITIES" shall have the meaning
ascribed to "Registrable Securities" in the Stockholders Agreement.

                  "PERSON" shall mean and include an individual, a corporation,
a limited liability company, an association, a partnership, a trust or estate, a
government or any department or agency thereof or any other legal entity.

                  "PNC" shall mean PNC Capital Corp. and Wood Street Partners,
II.

                  "PRIORITY HOLDERS" shall mean Jackson, BancBoston, GECC and
PNC.

                  "REGISTRABLE SECURITIES" shall mean at any time (i) the Common
Stock held by any Holder, (ii) Common Stock into which or for which any security
of the Company held by any Holder may be converted or exercised, including by
conversion of the Term B Notes or exercise of the Lender Warrants or GECC
Warrants and (iii) any Common Stock issued as a dividend or distribution with
respect to, or in exchange for or in replacement of, any Term B Notes or Common
Stock or such other security; PROVIDED, that any Common Stock sold to the public
under a registration statement filed with the Commission or pursuant to Rule 144
shall not be deemed Registrable Securities.

                  "REGISTRATION EXPENSES" shall mean all expenses incident to
the Company's performance of or compliance with its obligations under Sections
2.01, 2.02 and 2.03 hereof, including, without limitation, all Commission, NASD
and stock exchange or NASDAQ registration and filing fees and expenses, fees and
expenses of compliance with applicable state securities or "blue sky" laws

                                       3
<PAGE>   6

(including, without limitation, reasonable fees and disbursements of counsel for
the underwriters in connection with "blue sky" qualifications of the Registrable
Securities), printing expenses, messenger and delivery expenses, the fees and
expenses incurred in connection with the listing of the securities to be
registered in any public offering on each securities exchange or national market
system on which such securities are to be so listed and, following such public
offering, the fees and expenses incurred in connection with the listing of such
securities to be registered on each securities exchange or national market
system on which such securities are listed, fees and disbursements of counsel
for the Company and all independent certified public accountants (including the
expenses of any annual audit and "cold comfort" letters required by or incident
to such performance and compliance), the fees and disbursements of underwriters
customarily paid by issuers or sellers of securities (including the fees and
expenses of any "qualified independent underwriter" required by the NASD), the
reasonable fees and expenses of any special experts retained by the Company in
connection with such registration, fees and expenses of other Persons retained
by the Company and fees and expenses of one counsel for those Holders requesting
registration (such legal fees and expenses to be borne by the Company shall not
exceed $15,000), PROVIDED, HOWEVER, that Registration Expenses shall not include
any underwriting discounts or commission or transfer taxes, if any, attributable
to the sale of Registrable Securities by holders of such Registrable Securities
other than the Company.

                  "SECURITIES ACT" shall mean the Securities Act of 1933, as
amended.

                  "SHARE EQUIVALENTS" shall mean collectively, the Term B Share
Equivalents, the Lender Warrant Share Equivalents and the GECC Share
Equivalents.

                  "STOCKHOLDERS AGREEMENT" shall mean the Amended and Restated
Stockholders Agreement dated as of June 1, 2000, among the Company and certain
parties thereto.

                  "SUBSIDIARY" shall mean any Person of which the Company,
directly or indirectly, owns 50% or more of the outstanding voting securities or
has the power to elect or designate a majority of the board of directors (or
similar governing body) or otherwise controls.

                  "TERM B LENDERS" shall mean Crest Communications Partners II
LP, Jackson National Life Insurance Company, Old Hickory Fund I, LLC, Tully
Capital Partners, PNC Capital Corp. and Wood Street Partners, II.

                  "TERM B NOTES" shall have the meaning ascribed to "Term B
Notes" in the Credit Agreement.

                  "TERM B SHARE EQUIVALENTS" shall mean those shares of Common
Stock issuable upon conversion of the Term B Notes.

                                       4
<PAGE>   7

                                   Article II

                               REGISTRATION RIGHTS

                  Section 2.01. DEMAND REGISTRATION.

                  (a) (i) At any time, upon the written request the holders of
at least 20% of the Term B Notes and Term B Share Equivalents on an as converted
basis or the holders of the Term B Notes with a face value of at least
$1,000,000 (such holders and their Affiliates holding Term B Notes or Share
Equivalents, the "Lender Initiating Holders"), the Company shall use its best
efforts to effect the registration of all or part of such Lender Initiating
Holders' Registrable Securities under the Securities Act as described below;
PROVIDED, that each request of the Lender Initiating Holders shall cover 20% or
more of the Term B Notes and Term B Share Equivalents on as converted basis.
Such request shall state the intended method of disposition by such Holder of
the Registrable Securities and the Company will promptly give written notice of
such requested registration to all Holders of the Registrable Securities. The
Company will use its best efforts to effect such registration of (A) the
Registrable Securities which the Company has been so requested to register for
disposition in accordance with the intended method of disposition stated in such
request and (B) except as set forth in the next succeeding sentence, all other
Registrable Securities the Holders of which shall have, within 30 days after the
receipt of such written notice from the Company, made written request (stating
the intended method of disposition of such securities by such Holders) to the
Company for registration thereof, all to the extent required to permit the
disposition (in accordance with the intended method thereof as aforesaid) by all
such Holders of the Registrable Securities so to be registered; PROVIDED,
HOWEVER, that the Lender Initiating Holders shall not be deemed to have made a
demand request unless a registration statement shall have become effective with
respect to 100% of the shares requested to be included therein by the Lender
Initiating Holders; PROVIDED, FURTHER, HOWEVER, that the Company shall not be
required to effect any registration pursuant this Section 2.01 at any time after
the second such registration which shall not have been interfered with by any
order or requirement of the Commission or any other governmental agency or any
court. The Company, after consultation with the Lender Initiating Holders
requesting any registration pursuant to this paragraph, shall select the
underwriter or underwriters of recognized standing to be used in connection with
any public offering of securities registered pursuant to this paragraph.

                  (b) If a requested registration pursuant to this Section 2.01
involves an underwritten offering, and the managing underwriter shall advise the
Company in writing (with a copy to each Holder of Registrable Securities
requesting registration) that, in its opinion, the number of securities
requested to be included in such registration exceeds the number which can be
sold in such offering within a price range acceptable to the Lender Initiating
Holders, the Company will exclude from such registration, to the extent of the
number of securities which the Company is so advised cannot be sold in such
offering, first, on a pro rata basis in accordance with the amount of Fully
Diluted Common Stock held beneficially or of record, the Registrable Securities
requested to be registered for the account of any Person (including the Company)
other than the Lender Initiating Holders and Holders of Term B Notes or Share
Equivalents and second, on a pro rata basis in accordance with the amount of
Fully Diluted Common Stock held beneficially or of record, the Registrable
Securities requested to be registered for the account of the Lender Initiating

                                       5
<PAGE>   8

Holders and Holders of Term B Notes or Share Equivalents. Any Holder of
Registrable Securities to be included in any registration pursuant to this
Section 2.01 by written notice to the Company within 20 days after its receipt
of a copy of a notice from the managing underwriter delivered pursuant to this
Section 2.01(b) may rescind its request for registration of any Registrable
Securities held by it with respect to all or any part of such Registrable
Securities.

                  (c) The Company may delay for up to three months a request
pursuant to this Section 2.01 if the Board of Directors, in its good faith
judgment, shall determine that the filing of a registration statement would
adversely affect the interests of the Company and its stockholders, provided
that the Company may not exercise such right more than one time in any
twelve-month period. If the Company makes such determination, it shall give
written notice to each holder of Registrable Securities requesting registration.
Such delay shall be for the period the Company determines, on the basis provided
above, is in good faith necessary or desirable, but in no event greater than
three months. Following such delay, the Company shall promptly cause the
Registrable Securities to be registered unless, within 15 days of receipt of
notice from the Company, the Lender Initiating Holders withdraw the request
pursuant to Section 2.01(b), in which case such request will not be considered a
request for the purposes of Section 2.01(a).

                  Section 2.02. PIGGY-BACK REGISTRATION.

                  (a) If the Company at any time proposes to register any of its
equity securities (other than securities issued with respect to any acquisition
or any employee stock option, stock purchase, or similar plan or any other
securities to be registered pursuant to a special purpose registration) under
the Securities Act on Form S-1, Form S-2, Form S-3 or any other form of general
application for sale of securities to the public in an underwritten offering
upon which may be registered securities similar to the Registrable Securities,
it will each such time at least 30 days prior to the anticipated filing date of
such proposed registration statement give written notice to all Holders of all
Registrable Securities of its intention so to do and, upon the written request
of any such holder made within 15 days after the receipt of any such notice
(which request shall specify the Registrable Securities intended to be disposed
of by such Holder and state the intended method of disposition thereof), the
Company will use its best efforts to effect the registration under the
Securities Act of Registrable Securities which the Company has been so requested
to register, to the extent required to permit the disposition (in accordance
with the intended methods thereof as aforesaid) by such Holders of the
Registrable Securities to be so registered, subject to the discretion of the
managing underwriter to limit or exclude any of such equity securities from the
offering (subject to the priorities as set forth in Section 2.01(b) below) if it
determines that the inclusion thereof would adversely affect the marketing of
the securities to be sold by the Company therein; PROVIDED, HOWEVER, that if any

                                       6
<PAGE>   9

Registrable Securities are to be distributed pursuant to this Section 2.02
through a firm of underwriters to the public and Crest shall be participating in
such offering it shall have the right, after consultation with the Company, to
approve any underwriter.

                  (b) If a requested registration pursuant to this Section 2.02
involves an underwritten offering, and the managing underwriter shall advise the
Company in writing (with a copy to each Holder of Registrable Securities
requesting registration) that, in its opinion, the number of securities
requested to be included in such registration exceeds the number which can be
sold in such offering within a price range acceptable to the Lender Initiating
Holders and Priority Holders (pursuant to Section 5.02(b) of the Stockholders
Agreement), the Company will exclude from such registration, to the extent of
the number of securities which the Company is so advised cannot be sold in such
offering, first, on a pro rata basis in accordance with the amount of Fully
Diluted Common Stock held beneficially or of record, the Registrable Securities
or Original Registrable Securities, as applicable, requested to be registered
for the account of any Person other than the Holders of Term B Notes or Share
Equivalents or the Priority Holders (pursuant to Section 5.02(b) of the
Stockholders Agreement), as applicable, second, on a pro rata basis in
accordance with the amount of Fully Diluted Common Stock held beneficially or of
record, the Registrable Securities or Original Registrable Securities, as
applicable, requested to be registered for the account of the Holders of Term B
Notes or Share Equivalents and the Priority Holders (pursuant to Section 5.02(b)
of the Stockholders Agreement), as applicable, and third those Registrable
Securities requested to be registered for the account of the Company. Any Holder
of Registrable Securities or Priority Holder to be included in any registration
pursuant to this Section 2.02 by written notice to the Company within 20 days
after its receipt of a copy of a notice from the managing underwriter delivered
pursuant to this Section 2.02(b) may rescind its request for registration of any
Registrable Securities or Original Registrable Securities, as applicable, held
by it with respect to all or any part of such Registrable Securities or Original
Registrable Securities.

                  Section 2.03. FORM S-3 REGISTRATION.

                  (a) At any time after August 23, 2001 when the Company is
eligible to register securities on Form S-3, if the Company shall receive from
holders of at least 20% of the Term B Notes and Term B Share Equivalents on an
as converted basis or the holders of the Term B Notes with a face value of at
least $1,000,000 a written request or requests that the Company effect a
registration on Form S-3 with respect to all or a part of the Registrable
Securities owned by such Holder or Holders the Company will: (i) promptly give
written notice of the proposed registration, and any related qualification or
compliance, to all other Holders; (ii) as soon as practicable effect such
registration and all such qualification and compliance as may be so requested
and as would permit or facilitate the sale and distribution of all or such
portion of such Holder's or Holders' of Registrable Securities as are specified
in such request, together with all or such portion of the Registrable Securities
of any other Holder or Holders joining in such request as are specified in a
written request given within 15 days after receipt of written notice from the
Company; PROVIDED, HOWEVER, that the Company shall not be obligated to effect
any such registration, qualification or compliance, pursuant to this Section
2.03, (A) if Form S-3 is not available for such offering by the Holders; (B)
more than two times in any twelve-month period; (C) if the anticipated aggregate
price of all shares requested to be included in such registration is not at
least $500,000; or (D) if the Company shall furnish to the Holders a certificate

                                       7
<PAGE>   10

signed by the Chief Executive Officer of the Company to the effect that, in the
good faith judgment of the Board of Directors, the filing, the offering or the
disclosure required thereby would adversely affect a pending or contemplated
acquisition, financing or other material transaction of the Company and it is
therefore in the best interests of the Company to defer the filing of such
registration statement, then the Company shall have the right to defer such
filing or to block the sale of shares thereunder for a period of not more than
90 days after the date of furnishing such certificate; provided, HOWEVER, that
the Company may not exercise such right more than once in any twelve-month
period; and (iii) subject to the foregoing, the Company shall file a
registration statement covering the Registrable Securities and other securities
so requested to be registered as soon as practicable after receipt of the
request or requests of the Holders. No registration effected pursuant to this
Section 2.03 shall relieve the Company from its obligation to effect any
registration pursuant to Section 2.01 or 2.02.

                  (b) If a requested registration pursuant to this Section 2.03
involves an underwritten offering, and the managing underwriter shall advise the
Company in writing (with a copy to each Holder of Registrable Securities
requesting registration) that, in its opinion, the number of securities
requested to be included in such registration exceeds the number which can be
sold in such offering within a price range acceptable to the Holders of a
Majority of the Registrable Securities, the Company will exclude from such
registration, to the extent of the number of securities which the Company is so
advised cannot be sold in such offering, first, on a pro rata basis in
accordance with the amount of Fully Diluted Common Stock held beneficially or of
record, the Registrable Securities requested to be registered for the account of
any Person (including the Company) other than the initiating Holder or Holders
pursuant to Section 2.03(a) hereof and second, on a pro rata basis in accordance
with the amount of Fully Diluted Common Stock held beneficially or of record, if
applicable, the Registrable Securities requested to be registered for the
account of such initiating Holder or Holders. Any Holder of Registrable
Securities to be included in any registration pursuant to this Section 2.03 by
written notice to the Company within 20 days after its receipt of a copy of a
notice from the managing underwriter delivered pursuant to this Section 2.03(b)
may rescind its request for registration of any Registrable Securities held by
it with respect to all or any part of such Registrable Securities.

                  Section 2.04. REGISTRATION EXPENSES. The Registration Expenses
in connection with (i) any registration in which Registrable Securities shall be
included pursuant to Section 2.02, (ii) up to two registrations in which
Registrable Securities shall be included pursuant to Section 2.01 and (iii) up
to two registrations in which Registrable Securities shall be included pursuant
to Section 2.03 shall be borne by the Company.

                                       8
<PAGE>   11

                  Section 2.05. REGISTRATION PROCEDURES. If and whenever the
Company is required to use its best efforts to effect the registration of any
Registrable Securities under the Securities Act as provided in this Agreement,
the Company will as promptly as possible:

                  (i) prepare and (in any event within 120 days after the end of
the period within which requests for registration may be given to the Company)
file with the Commission a registration statement with respect to such
Registrable Securities and use its best efforts to cause such registration
statement to become effective; provided, HOWEVER, that before filing with the
Commission a registration statement or prospectus or any amendments or
supplements thereto, the Company will furnish to each Holder of Registrable
Securities included in such registration statement copies of such documents
proposed to be filed for such Holder's review;

                  (ii) prepare and file with the Commission such amendments and
supplements to such registration statement and the prospectus used in connection
therewith as may be necessary to keep such registration statement effective and
to comply with the provisions of the Securities Act with respect to the
disposition of all such Registrable Securities and other securities covered by
such registration statement until such time as all of such Registrable
Securities and other securities have been disposed of in accordance with the
intended methods of disposition by the seller or sellers thereof set forth in
such registration statement, but in no event for a period of less than 120 days
after such registration statement becomes effective;

                  (iii) furnish to each seller of such Registrable Securities
such number of 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), in conformity with the requirements of the Securities
Act, and such other documents, as such seller may reasonably request in order to
facilitate the disposition of the Registrable Securities owned by such seller;

                  (iv) use its best efforts to register or qualify such
Registrable Securities covered by such registration statement under such other
applicable securities or Blue Sky laws of such jurisdictions within the United
States of America (including territories and commonwealths thereof) as each
seller shall reasonably request, except that the Company shall not for any such
purpose be required to qualify generally to do business as a foreign corporation
in any jurisdiction wherein it is not so qualified, to subject itself to
taxation in any such jurisdiction, or to consent to general service of process
in any jurisdiction;

                  (v) notify each seller of any such Registrable Securities
covered by such registration statement, at any time when a prospectus relating
thereto is required to be delivered under the Securities Act within the period
mentioned in subdivision (ii) of this Section 2.05, 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 any material fact required to be stated therein or necessary to
make the statements therein not misleading in light of the circumstances under
which they were made (and upon receipt of such notice and until a supplemented
or amended prospectus as set forth below is available, each such seller shall

                                       9
<PAGE>   12

not offer or sell any securities covered by such registration statement and
shall return all copies of such prospectus to the Company if requested to do so
by it), and at the request of any such seller prepare and furnish to such seller
a reasonable number of copies of a supplement to or an amendment of such
prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such Registrable Securities such prospectus shall not include an
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein not misleading in
light of the circumstances under which they were made; and

                  (vi) furnish to each holder for which Registrable Securities
are registered or are to be registered at the time of the disposition of such
Registrable Securities by such holder, a signed copy of an opinion of counsel
dated the effective date of such registration statement reasonably satisfactory
in form and substance to the three largest such holders (based on their
percentage in interest of the Registrable Securities or the largest such holder
if such holder's percentage in interest of the Registrable Securities is equal
to or greater than 50%) covering substantially the matters with respect to such
registration statement (and the prospectus, included therein) as are customarily
covered in opinions of issuers' counsel delivered to underwriters in
underwritten public offerings of securities; it being understood that such
opinion may contain such qualifications and assumptions as are customary in the
rendering of similar opinions.

The Company may require each seller of any Registrable Securities as to which
any registration is being effected to furnish the Company such information
regarding such seller and the distribution of such Registrable Securities as the
Company may from time to time request in writing and as shall be required by law
to effect such registration.

                  Section 2.06. INDEMNIFICATION.

                  (a) In the event of any registration of any Registrable
Securities under the Securities Act pursuant to this Agreement, the Company will
indemnify and hold harmless the seller of such securities and its directors and
officers and partners and each underwriter of such securities and each other
person, if any, who controls such seller or underwriter within the meaning of
the Securities Act, against any losses, claims, damages or liabilities, joint or
several, to which such seller, director or officer or underwriter or controlling
person may become subject under the Securities Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions or proceedings in respect
thereof) arise out of or are based upon (i) any untrue statement or alleged
untrue statement of any material fact contained in any registration statement
under which such securities were registered under the Securities Act, any
preliminary prospectus or final prospectus contained therein, or any amendment
or supplement thereto, or (ii) any omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the
statements therein not misleading; and the Company will reimburse such seller
(including its employees and agents), each such director and officer, each such
underwriter and each such controlling person for any legal or any other expenses

                                       10
<PAGE>   13

reasonably incurred by them in connection with investigating or defending any
such loss, claim, damage, liability, action or proceeding; PROVIDED, HOWEVER,
that the Company shall not be liable in any such case to the extent that any
such loss, claim, damage or liability arises out of or is based upon any untrue
statement or omission made in such registration statement, any such preliminary
prospectus, final prospectus, amendment or supplement in reliance upon and in
conformity with written information furnished by any seller to the Company
specifically for use in the preparation thereof. Such indemnity shall remain in
full force and effect irrespective of any investigation by any person
indemnified above.

                  (b) In connection with any registration statement in which a
Holder of Registrable Securities is participating each such Holder shall
indemnify to the extent permitted by law in the same manner and to the same
extent as set forth in subdivision (a) of this Section 2.06 (but only up to an
amount, with respect to such prospective seller, not in excess of the gross
proceeds realized by such seller from the sale of Registrable Securities
registered pursuant to such registration statement), the Company, each director
of the Company, each officer of the Company who shall sign such registration
statement and any person who controls the Company within the meaning of the
Securities Act, with respect to any statement in or omission from such
registration statement, any preliminary prospectus or final prospectus contained
therein, or any amendment or supplement thereto, if such statement or omission
was made in reliance upon and in conformity with written information furnished
to the Company specifically for use in the preparation of such registration
statement, preliminary prospectus, final prospectus, amendment or supplement.

                  (c) Promptly after receipt by an indemnified party of notice
of the commencement of any action involving a claim referred to in the preceding
paragraphs of this Section 2.06, such indemnified party shall, if a claim in
respect thereof is to be made against an indemnifying party, give written notice
to the latter of the commencement of such action; PROVIDED, HOWEVER, that the
failure of any indemnified party to give notice as provided herein shall not
relieve the indemnifying party of its obligations under the preceding paragraphs
of this Section 2.06, except to the extent that the indemnifying party is
actually materially and irrevocably prejudiced by such failure to give notice.
In case any such action is brought against an indemnified party, unless in the
written opinion of counsel for such indemnified party a conflict of interest
between such indemnified and indemnifying parties may exist in respect of such
claim, the indemnifying party shall be entitled to participate in and to assume
the defense thereof, jointly with any other indemnifying party similarly
notified to the extent that it may wish, with counsel reasonably satisfactory to
such indemnified party, and after notice from the indemnifying party to such
indemnified party of its election so to assume the defense thereof, the
indemnifying party shall not be liable to such indemnified party for any legal
or other expense subsequently incurred by the latter in connection with the
defense thereof. No indemnifying party, in the defense of any such claim or
litigation, shall, except with the consent of each indemnified party, consent to
entry of any judgment or enter into any settlement which does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such
indemnified party of a release from all liability in respect to such claim or
litigation. An indemnifying party shall not be subject to any liability for any
settlement made without its consent, which shall not be unreasonably withheld.

                                       11
<PAGE>   14

                  If for any reason the foregoing indemnity is unavailable, then
the indemnifying party shall contribute to the amount paid or payable by the
indemnified party as a result of such losses, claims, damages, liabilities or
expenses in such proportion as is appropriate to reflect the relative benefits
received by the indemnifying party on the one hand and the indemnified party on
the other hand.

                  Section 2.07. INFORMATION BY THE HOLDERS. Each of the Holders
included in any registration shall furnish to the Company such information
regarding such Holder and the distribution proposed by such Holder as the
Company may reasonably request in writing and as shall be reasonably required in
connection with any registration, qualification or compliance referred to in
this Article II.

                  Section 2.08. RULE 144 REPORTING. With a view to making
available the benefits of certain rules and regulations of the Commission which
may permit the sale of the Registrable Securities to the public without
registration, the Company agrees to use all commercially reasonable efforts to:

                  (i) make and keep public information available, as those terms
are understood and defined in Rule 144 of the Securities Act;

                  (ii) file with the Commission in a timely manner all reports
and other documents required of the Company under the Exchange Act; and

                  (iii) so long as any Holder owns any Registrable Securities,
furnish to such Holder upon request a written statement by the Company as to its
compliance with the reporting requirements of Rule 144, and of the Exchange Act,
a copy of the most recent annual or quarterly report of the Company, and such
other reports and documents so filed as any Holder may reasonably request in
availing itself of any rule or regulation of the Commission allowing such Holder
to sell any such securities without registration.

                  Section 2.09. ASSIGNABILITY. The registration rights set forth
in this Article II shall be assignable by any Holder, in whole or in part, to
any transferee of Term B Notes, Lender Warrants or Registrable Securities,
provided such transferee agrees to be bound by all provisions of this Agreement.
Any such assignee of a Holder shall be deemed to be a Holder for purposes of
this Article II.

                                  Article III

                      CERTAIN REPRESENTATIONS AND COVENANTS

                  Section 3.01. LENDER REPRESENTATION. Each Lender represents
and warrants as to itself that as of the Closing Date (after giving effect to
all transactions occurring on or as of the Closing Date) such Lender is not a
party with any other Person to any other agreement with respect to the holding,
voting, acquisition or disposition of shares of Capital Stock, other than the
Note Purchase Agreement, the Stockholders Agreement and the agreements set forth
on Schedule 2 hereto.

                                       12
<PAGE>   15

                  Section 3.02. COMPANY REPRESENTATIONS. The Company represents
and warrants that as of the Closing Date (i) it is not a party with any other
Person to any other agreement with respect to the holding, voting, acquisition
or disposition of shares of Capital Stock other than the agreements set forth on
Schedule 3 hereto, (ii) except pursuant to the Stockholders Agreement and the
warrant to purchase shares of Common Stock issued to Gateway Companies, Inc. on
June 29, 2001 (the "Gateway Warrant"), it has not granted to any other Person
any other registration rights with respect to Capital Stock of the Company, and
no holder of any Capital Stock of the Company shall have as of the date hereof
any right to require registration of any Capital Stock of the Company under the
Securities Act or to include any security in any registration statement filed by
the Company under the Securities Act except pursuant to the Stockholders
Agreement and pursuant hereto and (iii) the only holders of Capital Stock
(excluding shares of Common Stock) are the parties hereto and the parties listed
on Schedule 4 hereto.

                  Section 3.03. COMPANY COVENANTS.

                  (a) The Company will comply with the reporting requirements of
Sections 13 and 15(d) of the Exchange Act applicable to it and shall use its
best efforts to comply with all other public information reporting requirements
of the Commission (including reporting requirements which serve as a condition
to utilization of Rule 144 promulgated by the Commission under the Securities
Act) applicable to it from time to time in effect and relating to the
availability of an exemption from the Securities Act for the sale of any
Registrable Securities. The Company will also cooperate with each holder of any
Registrable Securities in supplying such information and documentation as may be
necessary for such holder to complete and file any information reporting forms
presently or hereafter required by the Commission as a condition to the
availability of an exemption from the Securities Act for the sale of any
Registrable Securities.

                  (b) The Company covenants to each Lender that it will not
grant to any other party registration rights other than registration rights that
would not be senior or pari passu to those given to the Lenders in Section 2.02
hereof except pursuant to an amendment to this Agreement in accordance with the
terms hereof.

                                   Article IV

                                  MISCELLANEOUS

                  Section 4.01. INJUNCTIVE RELIEF. It is acknowledged that it
will be impossible to measure in money the damages that would be suffered if the
parties fail to comply with certain of the obligations imposed on them by this
Agreement and that in the event of any such failure, an aggrieved Person will be
irreparably damaged and will not have an adequate remedy at law. Any such Person
shall, therefore, be entitled to injunctive relief and/or specific performance
to enforce such obligations, and if any action should be brought in equity to
enforce any of such provisions of this Agreement, none of the parties hereto
shall raise the defense that there is an adequate remedy at law.

                                       13
<PAGE>   16

                  Section 4.02. FURTHER ASSURANCES. Each party hereto shall do
and perform or cause to be done and performed all such further acts and things
and shall execute and deliver all such other agreements, certificates,
instruments and documents as any other party hereto reasonably may request in
order to carry out the intent and accomplish the purposes of this Agreement and
the consummation of the transactions contemplated hereby.

                  Section 4.03. GOVERNING LAW. This Agreement shall be construed
and enforced in accordance with, and the rights of the parties shall be governed
by, the laws of the State of Florida.

                  Section 4.04. AMENDMENT; WAIVER. This Agreement (a) may be
amended or supplemented only by an instrument or counterparts thereof in writing
signed by the Company and the Lenders holding a majority of the Term B Notes and
Term B Share Equivalents on an as converted basis and (b) may not be discharged
except by such written instrument or by performance; PROVIDED, THAT, any
amendment that shall materially adversely affect the holders of the GECC Share
Equivalents shall require the consent of the Lenders holding a majority of the
GECC Share Equivalents.

                  Section 4.05. BINDING EFFECT. All covenants, agreements,
representations and undertakings in this Agreement shall be binding on and inure
to the benefit of the parties hereto and, subject to the terms and provisions
hereof, their respective legal representatives, successors and assigns.

                  Section 4.06. INVALIDITY OF PROVISION. The invalidity or
unenforceability of any provision of this Agreement in any jurisdiction shall
not affect the validity or enforceability of the remainder of this Agreement in
that jurisdiction or the validity or enforceability of this Agreement, including
that provision, in any other jurisdiction.

                  Section 4.07. COUNTERPARTS. This Agreement may be executed
simultaneously in two or more counterparts, all of which shall be deemed but one
and the same instrument and each of which shall be deemed an original.

                  Section 4.08. NOTICES. All notices and other communications
provided for or given or made hereunder shall be in writing (including delivery
by facsimile transmission) and, unless otherwise provided herein, shall be
deemed to have been given upon receipt if delivered by hand or upon delivery if
sent by overnight courier or two days following delivery if sent by first class
mail or registered mail by the party to whom such notice is to be given at its
address set forth on Schedule 1 hereto, or such other address for the party as
shall be specified by notice given pursuant hereto.

                  Section 4.09. HEADINGS. The descriptive headings of the
several paragraphs of this Agreement are inserted for convenience only and do
not constitute part of this Agreement.

                  Section 4.10. EXPIRATION OF RIGHTS. Notwithstanding any other
provision in this Agreement, the parties hereto agree that the rights and
obligations set forth in this Agreement (other than those concerning any breach,

                                       14
<PAGE>   17

misrepresentation, liability or indemnification obligation which arose or shall
arise in connection with actions or omissions by any party hereto prior to the
Expiration Date) and any provision necessary to effect such rights and
obligations, shall expire and be of no further force and effect as of the
Expiration Date.

                  Section 4.11. ENTIRE AGREEMENT. The rights set forth herein
are in addition to the registration rights set forth in the Stockholders
Agreement. This Agreement together with the Note Purchase Agreement, the Credit
Agreement, the Term B Notes, the Lender Warrants and the GECC Warrants contains
the entire agreement among the parties hereto with respect to the subject matter
hereof.

                                       15
<PAGE>   18

                  IN WITNESS WHEREOF, this Agreement has been executed by or on
behalf of each of the parties hereto as of the date first above written.

                       VIASOURCE COMMUNICATIONS, INC.

                       By: /s/ Craig Russey
                          ------------------------------------------
                            Name: Craig Russey
                            Title:  Chief Executive Officer

                       CREST COMMUNICATIONS PARTNERS II LP
                       By:  Crest Partners II LLC, its general partner
                             By:  WAT Capital LLC, its managing member

                             By: /s/ William W. Sprague
                                -----------------------------------
                                     Name:  William W. Sprague
                                     Title:  Managing Member

                       JACKSON NATIONAL LIFE INSURANCE COMPANY
                       By:   PPM America, Inc., as attorney in fact,
                             on behalf of Jackson National Life
                             Insurance Company

                             By:  signature illegible
                                ----------------------------------
                                Name:
                                Title:

                       OLD HICKORY FUND I, LLC

                       By:  PPM America, Inc., its Manager

                             By:  signature illegible
                                ----------------------------------
                                Name:
                                Title:

                       TULLY CAPITAL PARTNERS

                       By: /s/ Timothy J. Tully
                          ----------------------------------------
                            Name:  Timothy J. Tully
                            Title:

                                       16
<PAGE>   19

                                   PNC CAPITAL CORP.

                                   By: /s/ David McL. Hillman
                                      -----------------------------------------
                                        Name:  David McL. Hillman
                                        Title:  Executive Vice President

                                   WOOD STREET PARTNERS, II

                                   By: /s/ David McL. Hillman
                                      -----------------------------------------
                                        Name:  David McL. Hillman
                                        Title:  General Partner

                                      Bruce A. Nassau

                                      /s/ Bruce A. Nassau
                                      -----------------------------------------

                                      Lurie Nassau

                                      /s/ Lurie Nassau
                                      -----------------------------------------

                                       17

<PAGE>   20

                                  GENERAL ELECTRIC CAPITAL CORPORATION

                                  By: /s/ Stephen Hipp
                                     ------------------------------------------
                                       Name:  Stephen Hipp
                                       Title:

                                       18

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}]]