Document:

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                                                                    Exhibit 10.1

                        DYNACS ENGINEERING COMPANY, INC.

                          1999 LONG TERM INCENTIVE PLAN
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                        DYNACS ENGINEERING COMPANY, INC.

                          1999 LONG TERM INCENTIVE PLAN

SECTION 1.  Purpose.

      The purpose of Dynacs Engineering Company, Inc.'s 1999 Long Term Incentive
Plan (the "Plan") is to promote the interests of Dynacs, Inc. (the "Company")
and its Subsidiaries, Affiliates and shareholders by enabling the Company to
attract, retain and reward employees, officers and directors of the Company and
its Subsidiaries and Affiliates, and strengthening the mutuality of interests
between such employees, officers and directors and the Company's shareholders,
by permitting such employees, officers, directors, and independent consultants
to participate in the ownership of the Company. To accomplish such purposes, the
Plan provides that the Company may grant Incentive Stock Options, Non-Qualified
Stock Options, Stock Appreciation Rights, Restricted Stock, Deferred Stock,
Stock Purchase Rights or Other Stock-Based Awards (all as defined herein).

Certain terms used herein are defined in Section 16 of the Plan.

SECTION 2.  Stock Subject to the Plan.

      The maximum aggregate number of shares of Stock reserved and available for
distribution under the Plan shall be 770,000 shares of Stock, reduced by the
number of shares of Stock subject to being issued from time to time upon
exercise of outstanding awards granted under the Plan. Such shares may consist,
in whole or in part, of authorized and unissued shares, treasury shares or
shares reserved for issuance under the Plan.

      Subject to Section 6(b)(iv) below, if any shares of Stock that have been
optioned under the Plan cease to be subject to a Stock Option, or if any such
shares of Stock that are subject to any Restricted Stock or Deferred Stock
award, Stock Purchase Right or Other Stock-Based award granted hereunder are
forfeited or any such award otherwise terminates, without a payment being made
to the participant in the form of Stock, such shares shall be available for
distribution in connection with future awards under the Plan. Notwithstanding
any other provision of the Plan, shares issued under the Plan and later
repurchased by the Company shall not become available for future distribution
under the Plan.

      In the event of any recapitalization, dividend of stock or property other
than cash ("stock dividend"), Stock split, reclassification or other change in
corporate structure affecting the Stock, a corresponding substitution or
adjustment shall be made in the aggregate number of shares reserved for issuance
under the Plan, in the number and option price of shares subject to outstanding
Options granted under the Plan, in the number and purchase price of shares
subject to outstanding Stock Purchase Rights under the Plan, and in the number
of shares subject to other outstanding awards granted under the Plan as may be
determined to be appropriate by the Board, in its sole discretion, provided that
the number of shares subject to any award shall always be a whole number. Such
adjusted option price shall also be used to determine the amount payable by
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the Company upon the exercise of any Stock Appreciation Right associated with
any Stock Option.

      If all or any portion of an outstanding option issued hereunder is
exercised subsequent to any stock dividend, split-up, recapitalization,
combination or exchange of shares, merger, consolidation, acquisition of
property or stock, separation, reorganization, or liquidation, as a result of
which shares of any class of the Company or any other company shall be issued in
respect of outstanding shares of common stock of the Company or shares of common
stock of the Company shall be changed into the same or a different number of
shares of the same or another class or classes, the person or persons exercising
such an option shall receive, for the aggregate price payable upon such exercise
of the option, the aggregate number and class of shares which, if shares of the
class of Stock of the Company for which the option was originally exercisable
(as authorized at the date of the granting of such option) had been purchased at
the date of granting of the option for the same aggregate price (on the basis of
the price per share provided in the option) and had not been disposed of, such
person or persons would have received as a result of such purchase and any such
stock dividend, split-up, recapitalization, combination or exchange of shares,
merger, consolidation, acquisition of property or stock, separation,
reorganization or liquidation; provided, however, that no fractional share shall
be issued upon any such exercise, and the aggregate price paid shall be
appropriately reduced on account of any fractional share not issued. In the
event of any such change in the outstanding Stock of the Company, the aggregate
number and class of shares remaining available under the Plan shall be that
number and class which a person, to whom an option had been granted for all of
the available shares under the Plan on the date preceding such change, would be
entitled to receive as provided in the first sentence of this paragraph.

SECTION 3.  Eligibility.

      Employees, officers, directors and independent consultants of the Company
and its Subsidiaries and Affiliates who are responsible for or contribute to the
management, growth and/or profitability of the business of the Company and/or
its Subsidiaries and Affiliates are eligible to be granted awards under the
Plan; provided, however, that only Employees of the Company and its Subsidiaries
are eligible to be granted Incentive Stock Options under the Plan.

SECTION 4.  Administration.

      Subject to the following paragraph, the Board may appoint a Committee
consisting of not less than two members of the Board to administer the Plan on
behalf of the Board, subject to such terms and conditions as the Board may
prescribe. The Committee shall be composed of individuals who are Non Employee
Directors as that term is defined in Rule 166-3 of the Exchange Act of 1934, and
Outside Directors as defined in (Section) 162m of the Internal Revenue Code of
1986, as amended. Once appointed, the Committee shall continue to serve until
otherwise directed by the Board. Members of the Board who are either eligible or
have been granted awards may vote on any matters affecting the administration of
the Plan or the grant of any awards pursuant to the Plan, except that no such
member shall act upon the granting of an award to

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himself, but any such member may be counted in determining the existence of a
quorum at any meeting of the Board during which action is taken with respect to
the granting of award to him.

      Subject to the foregoing paragraphs, from time to time the Board may
increase the size of the Committee and appoint additional members thereof,
remove members (with or without cause) and appoint new members in substitution
therefor, fill vacancies however caused, or remove all members of the Committee
and thereafter directly administer the Plan; provided, however, that the
composition of the Committee shall be in accordance with Rule 16b-3 promulgated
under the Exchange Act.

      The Committee shall have full authority to grant, pursuant to the terms of
the Plan, to Employees eligible under Section 3: (i) Stock Options, (ii) Stock
Appreciation Rights, (iii) Restricted Stock, (iv) Deferred Stock, (v) Stock
Purchase Rights and/or (vi) Other Stock-Based Awards.

      In particular, the Committee shall have the authority:

      (i)   to select the Employees of the Company and its Subsidiaries and
            Affiliates to whom Stock Options, Stock Appreciation Rights,
            Restricted Stock, Deferred Stock, Stock Purchase Rights and/or Other
            Stock-Based Awards may from time
            to time be granted hereunder;

      (ii)  to determine whether and to what extent Incentive Stock Options,
            Non-Qualified Stock Options, Stock Appreciation Rights, Restricted
            Stock, Deferred Stock, Stock Purchase Rights and/or Other
            Stock-Based Awards, or any combination thereof, are to be granted
            hereunder to one or more eligible Employees;

      (iii) to determine the number of shares to be covered by each such award
            granted hereunder;

      (iv)  to determine the terms and conditions, not inconsistent with the
            terms of the Plan, of any award granted hereunder (including, but
            not limited to, the share price and any restriction or limitation,
            or any vesting, acceleration or waiver of forfeiture restrictions
            regarding any Stock Option or other award and/or Deferred Stock
            under Sections 5(k) or (1), as applicable, instead of Stock);

      (v)   to determine whether and under what circumstances a Stock Option may
            be settled in Stock, Restricted Stock and/or Deferred Stock under
            Sections 5(k) or (1), as applicable, instead of cash;

      (vi)  to determine whether, to what extent and under what circumstances
            grants and/or other awards under the Plan and/or other cash awards
            made by the Company are to be made, and operate, on a tandem basis
            vis-a-vis other awards under the Plan and/or cash awards made
            outside of the Plan, or on an additive basis;

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      (vii) to determine whether, to what extent and under what circumstances
            Stock and other amounts payable with respect to an award under this
            Plan shall be deferred either automatically or at the election of
            the participant (including providing for and determining the amount
            (if any) of any deemed earnings on any deferred amount during any
            deferral period); and

      (viii)to determine the terms and restrictions applicable to Stock Purchase
            Rights and the Stock purchased by exercising such rights.

      The Committee shall have the authority to adopt, alter and repeal such
rules, guidelines and practices governing the Plan as it shall, from time to
time, deem advisable; to interpret the terms and provisions of the Plan and any
award issued under the Plan (and any agreements relating thereto); and to
otherwise supervise the administration of the Plan.

      All decisions made by the Committee pursuant to the provisions of the Plan
shall be made in the Committee's sole discretion and shall be final and binding
on all persons, including the Company and Plan participants.

SECTION 5.  Stock Options.

      Stock Options may be granted alone, in addition to or in tandem with other
awards granted under the Plan and/or cash awards made outside of the Plan. Each
Stock Option granted under the Plan shall be in such form as the Committee may
from time to time approve.

      Stock Options granted under the Plan may be of two types: (i) Incentive
Stock Options, and (ii) Non-Qualified Stock Options.

      The Committee shall have the authority to grant to any optionee Incentive
Stock Options, Non-Qualified Stock Options, or both types of Stock Options (in
each case with or without Stock Appreciation Rights).

      Options granted under the Plan shall be subject to the following terms and
conditions and shall contain such additional terms and conditions, not
inconsistent with the terms of the Plan, as the Committee shall deem desirable:

      a.    EXERCISE PRICE. The exercise price per share of Stock purchasable
            under a Stock Option shall be determined by the Committee at the
            time of grant and may be equal to, greater than or less than one
            hundred percent (100%) of the Fair Market Value of the Stock at the
            date of grant (but not less than eighty-five percent (85%) of such
            Fair Market Value); provided, however, that the option price per
            share of Stock purchasable under an Incentive Stock Option shall not
            be less than one hundred percent (100%) of the Fair Market Value of
            the Stock at the date of grant; and provided further, however, that
            in the case of an Incentive Stock Option granted to an Employee who,
            at the time of grant, owns securities possessing more than ten
            percent (10%) of the total combined voting power of all securities
            of the

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            Company, its Subsidiaries or Affiliates, the option price per share
            of Stock shall not be less than one hundred ten percent (110%) of
            the Fair Market Value of the Stock at the date of grant.

      b.    OPTION TERM. The term of each Stock Option shall be fixed by the
            Committee, but no Stock Option shall be exercisable more than ten
            (10) years after the date the Option is granted, provided, however,
            that in the case of an Incentive Stock Option granted to an Employee
            who, at the time of grant, owns securities possessing more than ten
            percent (10%) of the total combined voting power of all securities
            of the Company, its Subsidiaries or Affiliates, no Incentive Stock
            Option shall be exercisable later than five years from the date of
            grant.

      c.    VESTING. Stock Options shall vest at such rates and subject to such
            terms and conditions as shall be determined by the Committee at or
            after grant; provided, however, that, except as provided in Sections
            2, 5(f) and 5(g), unless otherwise determined by the Committee at or
            after grant, no Stock Option shall first become exercisable prior to
            the first anniversary of the granting of the Option. If the
            Committee provides, in its sole discretion, that any Stock Option is
            exercisable only in installments, the Committee may waive such
            installment exercise provision at any time at or after grant in
            whole or in part, based on such factors as the Committee shall
            determine in its sole discretion.

      d.    METHOD OF EXERCISE. Subject to whatever installment exercise
            provisions apply under Section 5(c), Stock Options may be exercised
            in whole or in part at any time during the option period, by giving
            written notice of exercise to the Company specifying the number of
            shares to be purchased.

            Such notice shall be accompanied by payment in full of the purchase
            price, which shall be paid in cash or, subject to any rules
            promulgated by the Committee in its discretion, by the surrender at
            Fair Market Value of the Stock, or by any combination of cash and
            shares of the Stock, including, without limitation, cash, Stock,
            other Options, or other property (including notes or other
            contractual obligations of an optionee to make payment on a deferred
            basis, such as through "cashless exercise" arrangements, to the
            extent permitted by applicable law), or by such other instrument as
            the Committee may accept; provided, however, that an optionee shall
            not be permitted to surrender Stock in payment of the purchase price
            if such action would cause the Company to recognize compensation
            expense (or additional compensation expense) with respect to the
            Option for financial accounting purposes.

            No shares of Stock shall be issued until full payment (which may
            include a full recourse promissory note of the Employee) therefor
            has been made. Until the issuance (as evidenced by the appropriate
            entry on the books of the Company or of a duly authorized transfer
            agent of the Company) of the stock certificate evidencing such
            Stock, and compliance with the applicable requirements, if any,

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            of Section 13(a), no right to vote or receive dividends or any other
            rights as a shareholder shall exist with respect to such Stock
            Option.

      e.    NON-TRANSFERABILITY OF OPTIONS. No Stock Option shall be
            transferable by the optionee otherwise than by will or by the laws
            of descent and distribution, and all Stock Options shall be
            exercisable, during the optionee's lifetime, only by the optionee.

      f.    TERMINATION BY DEATH. Subject to Section 5(j), if an optionee's
            employment or a consultant's engagement by the Company and any
            Subsidiary or Affiliate terminates by reason of death, any Stock
            Option held by such optionee may thereafter be exercised, to the
            extent such option was exercisable at the time of death or on such
            accelerated basis as the Committee may determine at or after grant
            (or as may be determined in accordance with procedures established
            by the Committee), by the legal representative of the estate or by
            the legatee of the optionees under the will of the optionee, for a
            period of one year (or such other period as the Committee may
            specify at grant) from the date of such death or until the
            expiration of the stated term of such Stock Option, whichever period
            is the shorter.

      g.    TERMINATION BY REASON OF DISABILITY. Subject to Section 5(j), if an
            optionee's employment by the Company and any Subsidiary or Affiliate
            terminates by reason of Disability, any Stock Option held by such
            optionee may thereafter be exercised by the optionee or his legal
            representative, to the extent it was exercisable at the time of
            termination or on such accelerated basis as the Committee may
            determine at or after grant (or as may be determined in accordance
            with procedures established by the Committee), for a period of
            ninety (90) days (or such other period as the Committee may specify
            at grant) from the date of such termination of employment or until
            the expiration of the stated term of such Stock Option, whichever
            period is the shorter; provided, however, that, if the optionee dies
            within such ninety (90) day period (or such other period as the
            Committee shall specify at grant), any unexercised Stock Option held
            by such optionee shall thereafter be exercisable to the extent to
            which it was exercisable at the time of death for a period of twelve
            (12) months, from the date of such death or until the expiration of
            the stated term of such Stock Option, whichever period is the
            shorter. In the event of termination of employment by reason of
            Disability, if an Incentive Stock Option is exercisable after the
            expiration of the exercise periods that apply for purposes of
            Section 422 of the Code, such Stock Option will thereafter be
            treated as a Non-Qualified Stock Option.

      h.    TERMINATION BY REASON OF RETIREMENT. Subject to Section 5(j), if an
            optionee's employment by the Company and any Subsidiary or Affiliate
            terminates by reason of Normal or Early Retirement, any Stock Option
            held by such optionee may thereafter be exercised by the optionee,
            to the extent it was exercisable at the time of such Retirement or
            on such accelerated basis as the Committee may determine

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            at or after grant (or as may be determined in accordance with
            procedures established by the Committee), for a period of ninety
            (90) days (or such other period as the Committee may specify at
            grant) from the date of such termination of employment or the
            expiration of the stated term of such Stock Option, whichever period
            is the shorter; provided, however, that, if the optionee dies within
            such ninety (90) day period (or such other period as the Committee
            may specify at grant), any unexercised Stock Option held by such
            optionee shall thereafter be exercisable, to the extent to which it
            was exercisable at the time of death, for a period of twelve (12)
            months from the date of such death or until the expiration of the
            stated term of such Stock Option, whichever period is the shorter.
            In the event of termination of employment by reason of Retirement,
            if an Incentive Stock Option is exercised after the expiration of
            the exercise periods that apply for purposes of Section 422 of the
            Code, such Stock Option will thereafter be treated as a
            Non-Qualified Stock Option.

      i.    OTHER TERMINATION. Unless otherwise determined by the Committee (or
            pursuant to procedures established by the Committee) at or after
            grant, if an optionee's employment by the Company and any Subsidiary
            or Affiliate terminates pursuant to the terms of an employment
            agreement between the optionee and the Company or any Subsidiary, or
            for any reason other than death, Disability or Normal or Early
            Retirement, the Stock Option shall thereupon terminate, except that
            such Stock Option may be exercised, to the extent otherwise then
            exercisable, for the lesser of three (3) months or the balance of
            such Stock Option's term if the optionee is involuntarily terminated
            without Cause by the Company and any Subsidiary or Affiliate. For
            purposes of the Plan, "Cause" means a felony conviction of a
            participant or the failure of a participant to contest prosecution
            for a felony, or a participant's negligence, breach, willful
            misconduct or dishonesty, any of which is directly and materially
            harmful to the business or reputation of the Company or any
            Subsidiary or Affiliate.

      j.    INCENTIVE STOCK OPTIONS. Anything in the Plan to the contrary
            notwithstanding, no term of this Plan relating to Incentive Stock
            Options shall be interpreted, amended or altered, nor shall any
            discretion or authority granted under the Plan be so exercised, so
            as to disqualify the Plan under Section 422 of the Code, or, without
            the consent of the optionee(s) affected, to disqualify any Incentive
            Stock Option under such Section 422.

            Incentive Stock Options shall not be treated as "incentive stock
            options" to the extent that the aggregate Fair Market Value
            (determined at the time an Incentive Stock Option is granted) of
            Stock with respect to which Incentive Stock Options meeting the
            requirements of Section 422(b) of the Code are exercisable for the
            first time by any participant during any calendar year (under all
            plans of the Company and its Subsidiaries) exceeds $100,000, and
            such excess shall be treated as a Non-Qualified Stock Option.

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            To the extent permitted under Section 422 of the Code or the
            applicable regulations thereunder or any applicable Internal Revenue
            Service pronouncement:

            (i)   if a participant's employment is terminated by reason of
                  death, Disability or Normal or Early Retirement, the portion
                  of any Incentive Stock Option exercisable during the
                  post-termination period specified under Sections 5(f), (g) or
                  (h) that is greater than the portion of such option that is
                  exercisable as an "incentive stock option" during such
                  post-termination period under Section 422, if any, shall be
                  treated as a Non-Qualified Stock Option; and

            (ii)  if the exercise of an Incentive Stock Option is accelerated by
                  reason of a merger or consolidation of the Company with
                  another company whereby the Company is not the surviving
                  corporation, any portion of such option that is not
                  exercisable as an Incentive Stock Option by reason of the
                  $100,000 limitation contained in Section 422(d) of the Code
                  shall be treated as a Non-Qualified Stock Option.

      k.    BUYOUT PROVISIONS. The Committee may at any time offer to purchase
            an Option previously granted for a payment in cash, Stock, Deferred
            Stock or Restricted Stock, based on such terms and conditions as the
            Committee shall establish and communicate to the optionee at the
            time that such offer is made.

      l.    SETTLEMENT PROVISIONS. If the option agreement so provides at grant
            or is amended after grant and prior to exercise to so provide (with
            the optionee's consent), the Committee may require that all or part
            of the shares to be issued with respect to an exercised Option take
            the form of Deferred or Restricted Stock, which shall be valued on
            the date of exercise on the basis of the Fair Market Value (as
            determined by the Committee) of such Deferred or Restricted Stock
            determined without regard to the deferral limitations and/or
            forfeiture restrictions involved.

      m.    CONSULTANTS. Notwithstanding anything herein to the contrary, the
            Committee may, in its discretion, provide for such terms and
            conditions with respect to any Stock Option grant to a consultant as
            it deems appropriate.

SECTION 6.  Stock Appreciation Rights.

      a. GRANT AND EXERCISE. Stock Appreciation Rights may be granted in
conjunction with all or part of any Stock Option granted under the Plan. In the
case of a Non-Qualified Stock Option, such rights may be granted either at or
after the time of the grant of such Stock Option. In the case of an Incentive
Stock Option, such rights may be granted only at the time of the grant of such
Stock Option.

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      A Stock Appreciation Right or applicable portion thereof granted with
respect to a given Stock Option shall terminate and no longer be exercisable
upon the termination or exercise of the related Stock Option, subject to such
provisions as the Committee may specify at grant where a Stock Appreciation
Right is granted with respect to less than the full number of shares covered by
a related Stock Option.

      A Stock Appreciation Right may be exercised by an optionee, subject to
Section 6(b), in accordance with the procedures established by the Committee for
such purpose. Upon such exercise, the optionee shall be entitled to receive an
amount determined in the manner prescribed in Section 6(b). Stock Options
relating to exercised Stock Appreciation Rights shall no longer be exercisable
to the extent that the related Stock Appreciation Rights have been exercised.

      b. TERMS AND CONDITIONS. Stock Appreciation Rights shall be subject to
such terms and conditions, not inconsistent with the provisions of the Plan, as
shall be determined from time to time by the Committee, including the following:

            (i)   Stock Appreciation Rights shall be exercisable only at such
                  time or times and to the extent that Stock Options to which
                  they relate shall be exercisable in accordance with the
                  provisions of Section 5 and this Section 6 of the Plan;
                  provided, however, that any Stock Appreciation Right granted
                  to an optionee subject to Section 16(b) of the Exchange Act
                  subsequent to the grant of the related Stock Option shall not
                  be exercisable during the first six (6) months of its term,
                  except that this special limitation shall not apply in the
                  event of death or Disability of the optionee prior to the
                  expiration of the six-month period. The exercise of Stock
                  Appreciation Rights held by optionees who are subject to
                  Section 16(b) of the Exchange Act shall comply with Rule 16b-3
                  promulgated thereunder, to the extent applicable.

            (ii)  Upon the exercise of a Stock Appreciation Right, an optionee
                  shall be entitled to receive an amount in cash and/or shares
                  of Stock equal in value to the excess of the Fair Market Value
                  of one share of Stock over the exercise price per share
                  specified in the related Stock Option multiplied by the number
                  of shares in respect of which the Stock Appreciation Right
                  shall have been exercised, with the Committee having the right
                  to determine the form of payment. When payment is to be made
                  in shares of Stock, the number of shares to be paid shall be
                  calculated on the basis of the average of the last reported
                  closing bid and asked prices on the New York Stock Exchange,
                  or, if the Stock is not listed or admitted to trading on such
                  exchange, the last reported sales price, or in case no such
                  reported sales price is quoted on such day, the average of the
                  last reported closing bid and asked prices on the principal
                  national securities exchange (including, for purposes hereof,
                  the National Association of Securities Dealers, Inc. National
                  Market System) on which the Stock is listed or admitted to
                  trading, or, if it is not listed or admitted to trading on any

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                  national securities exchange, the average of the last high
                  closing bid price and the low closing asked price as reported
                  on an inter-dealer quotation system during the applicable
                  period referred to in Rule 16b-3(e) promulgated under the
                  Exchange Act. In the absence of any available public
                  quotations for the Stock, the Board shall determine in good
                  faith the fair value of the Stock during the applicable period
                  referred to in Rule 16b-3(e) promulgated under the Exchange
                  Act, which determination shall be set forth in a certificate
                  by the Secretary of the Company.

            (iii) Stock Appreciation Rights shall be transferable only when and
                  to the extent that the underlying Stock Option would be
                  transferable under Section 5(e) of the Plan.

            (iv)  Upon the exercise of a Stock Appreciation Right, the Stock
                  Option or part thereof to which such Stock Appreciation Right
                  is related shall be deemed to have been exercised for the
                  purpose of the limitation set forth in Section 2 of the Plan
                  on the number of shares of Stock to be issued under the Plan,
                  but only to the extent of the number of shares issued under
                  the Stock Appreciation Right at the time of exercise based on
                  the value of the Stock Appreciation Right at such time.

SECTION 7.  Restricted Stock.

      a. ADMINISTRATION. Shares of Restricted Stock may be issued either alone,
in addition to or in tandem with other awards granted under the Plan and/or cash
awards made outside the Plan. The Committee shall determine the eligible persons
to whom, and the time or times at which, grants of Restricted Stock will be
made, the number of shares to be awarded, the price (if any) to be paid by the
recipient of Restricted Stock (subject to Section 7(b)), the time or times
within which such awards may be subject to forfeiture, and all other terms and
conditions of the awards.

      The Committee may condition the grant of Restricted Stock upon the
attainment of specified performance goals or such other factors as the Committee
may determine, in its sole discretion.

      The provisions of Restricted Stock awards need not be the same with
respect to each recipient.

      b. AWARDS AND CERTIFICATES. The prospective recipient of a Restricted
Stock award shall not have any rights with respect to such award, unless and
until such recipient has executed an agreement evidencing the award and has
delivered a fully executed copy thereof to the Company, and has otherwise
complied with the applicable terms and conditions of such award.

            (i)   The purchase price for shares of Restricted Stock shall be
                  equal to, less than or greater than their par value and may be
                  zero.

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            (ii)  Awards of Restricted Stock must be accepted within a period of
                  sixty (60) days (or such shorter period as the Committee may
                  specify at grant) after the award date, by executing a
                  Restricted Stock award agreement and paying whatever price (if
                  any) is required under Section 7(b)(i).

            (iii) Each participant receiving a Restricted Stock award shall be
                  issued a stock certificate in respect of such shares of
                  Restricted Stock. Such certificate shall be registered in the
                  name of such participant, and shall bear an appropriate legend
                  referring to the terms, conditions, and restrictions
                  applicable to such award.

            (iv)  The Committee shall require that the stock certificates
                  evidencing such shares be held in custody by the Company until
                  the restrictions thereon shall have lapsed, and that, as a
                  condition of any Restricted Stock award, the participant shall
                  have delivered a stock power, endorsed in blank, relating to
                  the Stock covered by such award.

      c. RESTRICTIONS AND CONDITIONS. The shares of Restricted Stock awarded
pursuant to this Section 7 shall be subject to the following restrictions and
conditions:

            (i)   Subject to the provisions of the Plan and the award agreement,
                  during a period set by the Committee commencing with the date
                  of such award (the "Restricted Period"), the participant shall
                  not be permitted to sell, transfer, pledge or assign shares of
                  Restricted Stock awarded under the Plan. Within these limits,
                  the Committee, in its sole discretion, may provide for the
                  lapse of such restrictions in installments and may accelerate
                  or waive such restriction in whole or in part, based on
                  service, performance and/or such other factors or criteria as
                  the Committee may determine, in its sole discretion.

            (ii)  Except as provided in this paragraph (ii) and Section 7(c)(i),
                  the participant shall have, with respect to the shares of
                  Restricted Stock, all of the rights of a shareholder of the
                  Company, including the right to vote the shares, and the right
                  to receive any cash dividends. The Committee, in its sole
                  discretion, as determined at the time of award, may permit or
                  require the payment of cash dividends to be deferred and, if
                  the Committee so determines, reinvested, subject to Section
                  13(e), in additional Restricted Stock to the extent shares are
                  available under Section 2, or otherwise reinvested. Pursuant
                  to Section 2 above, Stock dividends issued with respect to
                  Restricted Stock shall be treated as additional shares of
                  Restricted Stock that are subject to the same restrictions and
                  other terms and conditions that apply to the shares with
                  respect to which such dividends are issued.

                                       11
<PAGE>   13
            (iii) Subject to the applicable provisions of the award agreement
                  and this Section 7, upon termination of a participant's
                  employment with the Company and any Subsidiary or Affiliate
                  for any reason during the Restriction Period, all shares still
                  subject to restriction will vest, or be forfeited, in
                  accordance with the terms and conditions established by the
                  Committee at or after grant.

            (iv)  If and when the Restriction Period expires without a prior
                  forfeiture of the Restricted Stock subject to such Restriction
                  Period, certificates for an appropriate number of unrestricted
                  shares shall be delivered to the participant promptly.

      d. MINIMUM VALUE PROVISION. In order to better ensure that award payments
actually reflect the performance of the Company and service of the participant,
the Committee may provide, in its sole discretion, for a tandem
performance-based or other award designed to guarantee a minimum value, payable
in cash or Stock to the recipient of a Restricted Stock award, subject to such
performance, future service deferral and other terms and conditions as may be
specified by the Committee.

SECTION 8.  Deferred Stock.

      a. ADMINISTRATION. Deferred Stock may be awarded either alone, in addition
to or in tandem with other awards granted under the Plan and/or cash awards made
outside the Plan. The Committee shall determine the eligible persons to whom and
the time or times at which Deferred Stock shall be awarded, the number of shares
of Deferred Stock to be awarded to any person, the duration of the period (the
"Deferral Period") during which, and the conditions under which, receipt of the
Stock will be deferred, and the other terms and conditions of the award in
addition to those set forth in Section 8(b).

      The Committee may condition the grant of Deferred Stock upon the
attainment of specified performance goals or such other factors or criteria as
the Committee shall determine, in its sole discretion.

      The provisions of Deferred Stock awards need not be the same with respect
to each recipient.

      b. TERMS AND CONDITIONS. The shares of Deferred Stock awarded pursuant to
this Section 8 shall be subject to the following terms and conditions:

            (i)   Subject to the provisions of the Plan and the award agreement
                  referred to in Section 8(b)(vi) below, Deferred Stock awards
                  may not be sold, assigned, transferred, pledged or otherwise
                  encumbered during the Deferral Period. At the expiration of
                  the Deferral Period (or the Elective Deferral Period referred
                  to in Section 8(b)(v), where applicable), share

                                       12
<PAGE>   14
                  certificates shall be delivered to the participant, or his
                  legal representative, in a number equal to the shares covered
                  by the Deferred Stock award.

            (ii)  Unless otherwise determined by the Committee at grant, amounts
                  equal to any dividends declared during the Deferral Period
                  with respect to the number of shares covered by a Deferred
                  Stock award will be paid to the participant currently, or
                  deferred and deemed to be reinvested in additional Deferred
                  Stock, or otherwise reinvested, all as determined at or after
                  the time of the award by the Committee, in its sole
                  discretion.

            (iii) Subject to the provision of the award agreement and this
                  Section 8, upon termination of a participant's employment with
                  the Company and any Subsidiary or Affiliate for any reason
                  during the Deferral Period for a given award, the Deferred
                  Stock in question will vest, or be forfeited, in accordance
                  with the terms and conditions established by the Committee at
                  or after grant.

            (iv)  Based on service, performance and/or such other factors or
                  criteria as the Committee may determine, the Committee may, at
                  or after grant, accelerate the vesting of all or any part of
                  any Deferred Stock award and/or waive the deferral limitations
                  for all or any part of such award.

            (v)   A participant may elect to further defer receipt of an award
                  (or an installment of an award) for a specified period or
                  until a specified event (the "Elective Deferral Period"),
                  subject in each case to the Committee's approval and to such
                  terms as are determined by the Committee, all in its sole
                  discretion. Subject to any exceptions adopted by the
                  Committee, such election must generally be made at least
                  twelve (12) months prior to completion of the Deferral Period
                  for such Deferred Stock award (or such installment).

            (vi)  Each award shall be confirmed by, and subject to the terms of,
                  a Deferred Stock agreement executed by the Company and the
                  participant.

      c. MINIMUM VALUE PROVISIONS. In order to better ensure that award payments
actually reflect the performance of the Company and service of the participant,
the Committee may provide, in its sole discretion, for a tandem
performance-based or other award designed to guarantee a minimum value, payable
in cash or Stock to the recipient of a Deferred Stock award, subject to such
performance, future service, deferral and other terms and conditions as may be
specified by the Committee.

SECTION 9.  Stock Purchase Rights.

                                       13
<PAGE>   15
      a. AWARDS AND ADMINISTRATION. Subject to Section 2 above, the Committee
may grant eligible participants Stock Purchase Rights which shall enable such
participants to purchase Stock (including Deferred Stock and Restricted Stock):

           (i)   at its Fair Market Value on the date of grant;

           (ii)  at fifty percent (50%) of such Fair Market Value on such date;

           (iii) at an amount equal to Book Value on such date; or

           (iv)  at an amount equal to the par value of such Stock on such date.

      The Committee shall also impose such deferral, forfeiture and/or other
terms and conditions as it shall determine, in its sole discretion, on such
Stock Purchase Rights or the exercise thereof.

      The terms of Stock Purchase Rights awards need not be the same with
respect to each participant.

      Each Stock Purchase Right award shall be confirmed by, and be subject to
the terms of, a Stock Purchase Rights Agreement.

      b. EXERCISABILITY. Stock Purchase Rights shall generally be exercisable
for such period after grant as is determined by the Committee not to exceed
thirty (30) days. However, the Committee may provide, in its sole discretion,
that the stock which may be purchased pursuant to Stock Purchase Rights of
persons potentially subject to Section 16(b) of the Exchange Act shall not be
sold until six (6) months and one (1) day after the grant date.

SECTION 10. Other Stock-Based Awards.

      a. ADMINISTRATION. Other awards of Stock and other awards that are valued
in whole or in part by reference to, or are otherwise based on, Stock ("Other
Stock-Based Awards"), including, without limitation, performance shares,
convertible preferred stock, convertible debentures, exchangeable securities and
Stock awards or options valued by reference to Book Value or Subsidiary
performance, may be granted alone, in addition to or in tandem with Stock
Options, Stock Appreciation Rights, Restricted Stock, Deferred Stock or Stock
Purchase Rights granted under the Plan and/or cash awards made outside of the
Plan.

      Subject to the provisions of the Plan, the Committee shall have authority
to determine the persons to whom and the time or times at which such awards
shall be made, the number of shares of Stock to be awarded pursuant to such
awards, and all other conditions of the awards. The Committee shall also provide
for the grant of Stock upon the completion of a specified performance period.

                                       14
<PAGE>   16
      The provisions of Other Stock-Based Awards need not be the same with
respect to each recipient.

      b. TERMS AND CONDITIONS. Other Stock-Based Awards made pursuant to this
Section 10 shall be subject to the following terms and conditions:

            (i)   Subject to the provisions of this Plan and the award agreement
                  referred to in Section 10(b)(v) below, shares subject to
                  awards made under this Section 10 may not be sold, assigned,
                  transferred, pledged or otherwise encumbered prior to the date
                  on which the shares are issued, or, if later, the date on
                  which any applicable restriction, performance or deferral
                  period lapses. The Committee may further provide, in its sole
                  discretion, that shares subject to awards under this Section
                  10 made to persons potentially subject to Section 16(b) of the
                  Exchange Act may not be sold until six (6) months and one (1)
                  day after the grant date.

            (ii)  Subject to the provisions of the Plan and the award agreement
                  and unless otherwise determined by the Committee at grant, the
                  recipient of an award under this Section 10 shall be entitled
                  to receive, currently or on a deferred basis, interest or
                  dividends or interest or dividend equivalents with respect to
                  the number of shares covered by an award, as determined at the
                  time of the award by the Committee, in its sole discretion,
                  and the Committee may provide that such amounts (if any) shall
                  be deemed to have been reinvested in additional Stock or
                  otherwise reinvested.

            (iii) Any award under this Section 10 and any Stock covered by any
                  such award shall vest or be forfeited to the extent so
                  provided in the award agreements, as determined by the
                  Committee, in its sole discretion.

            (iv)  In the event of the participant's Retirement, Disability or
                  death, or in cases of special circumstances, the Committee
                  may, in its sole discretion, waive in whole or in part any or
                  all of the remaining limitations imposed hereunder (if any)
                  with respect to any or all of an award under this Section 10.

            (v)   Each award under this Section 10 shall be confirmed by, and
                  subject to the terms of, an agreement or other instrument by
                  the Company and by the participant.

            (vi)  Stock (including securities convertible into Stock) issued on
                  a bonus basis under this Section 10 may be issued for no cash
                  consideration. Stock (including securities convertible into
                  Stock) purchased pursuant to purchase rights awarded under
                  this Section 10 shall be priced at least fifty percent (50%)
                  of the Fair Market Value of the Stock on the date of grant.

                                       15
<PAGE>   17
SECTION 11.  Amendment and Termination.

      The Committee may amend, alter, or discontinue the Plan, but no amendment,
alteration, or discontinuation shall be made which would impair the rights of an
optionee or participant under a Stock Option, Stock Appreciation Right,
Restricted or Deferred Stock award, Stock Purchase Right or Other Stock-Based
Award theretofore granted, without the optionee's or participant's consent, or
which, without the approval of the Company's shareholders, would:

      a.    except as generally provided in this Plan, increase the total number
of shares reserved for the purpose of the Plan;

      b.    change the pricing terms of Section 9(a);

      c.    change the Employees eligible to participate in the Plan; or

      d.    extend the maximum option period under Section 5(d) of the Plan.

      The Committee may amend the terms of any Stock Option or other award
theretofore granted, prospectively or retroactively, but, subject to Section 2
above, no such amendment shall impair the rights of any holder without the
holder's consent. The Committee may also substitute new Stock Options for
previously granted Stock Options (on a one for one or other basis), including
previously granted Stock Options having higher option exercise prices.

      Subject to the above provisions, the Committee shall have broad authority
to amend the Plan to take into account changes in applicable securities and tax
laws and accounting rules, as well as other developments.

SECTION 12. Unfunded Status of Plan.

      The Plan is intended to constitute an "unfunded" plan for incentive and
deferred compensation. With respect to any payments not yet made to a
participant or optionee by the Company, nothing contained herein shall give any
such participant or optionee any rights that are greater than those of a general
creditor of the Company. In its sole discretion, the Committee may authorize the
creation of trusts or other arrangements to meet the obligations created under
the Plan to deliver Stock or payments in lieu of or with respect to awards
hereunder, provided, however, that, unless the Committee determines otherwise
with the consent of the affected participant, the existence of such trusts or
other arrangements is consistent with the "unfunded" status of the Plan.

SECTION 13.  General Provisions.

      a. The Committee may require each person purchasing shares of Stock
pursuant to a Stock Option or other award under the Plan to represent to and
agree with the Company in writing that the optionee or participant is acquiring
the shares without a view to distribution thereof. The certificates for such
shares may include any legend which the Committee deems

                                       16
<PAGE>   18
appropriate to reflect any restrictions on transfer.

      All certificates for shares of Stock or other securities delivered under
the Plan shall be subject to compliance with such stock-transfer orders and
other restrictions as the Committee may deem advisable under the rules,
regulations, and other requirements of the Commission, any stock exchange upon
which the Stock is then listed, and any applicable Federal or state securities
law, and shall further be subject to the approval of counsel for the Company
with respect to such compliance. The Committee may cause a legend or legends to
be put on any such certificates to make appropriate reference to such
restrictions.

      b. Nothing contained in this Plan shall prevent the Committee from
adopting other or additional compensation arrangements, subject to shareholder
approval if such approval is required, and such arrangements may be either
generally applicable or applicable only in specific cases.

      c. The adoption of the Plan shall not confer upon any employee of the
Company or any Subsidiary or Affiliate any right to continue employment with the
Company or a Subsidiary or Affiliate, as the case may be, nor shall it interfere
in any way with the right of the Company or a Subsidiary or Affiliate to
terminate the employment of any of its employees at any time.

      d. No later than the date as of which an amount first becomes includible
in the gross income of the participant for Federal income tax purposes with
respect to any award under the Plan, the participant shall pay to the Company,
or make arrangements satisfactory to the Committee regarding the payment of, any
Federal, state, or local taxes of any kind required by law to be withheld with
respect to such amount. Unless otherwise determined by the Committee,
withholding obligations may be settled with Stock, including Stock that is part
of the award that gives rise to the withholding requirement. The obligations of
the Company under the Plan shall be conditional on such payment or arrangements
and the Company and its Subsidiaries or Affiliates shall, to the extent
permitted by law, have the right to deduct any such taxes from any payment of
any kind otherwise due to the participant.

      e. The actual or deemed reinvestment of dividends or dividend equivalents
in additional Restricted Stock (or in Deferred Stock or other types of Plan
awards) at the time of any dividend payment shall only be permissible if
sufficient shares of Stock are available under Section 2 for such reinvestment
(taking into account then outstanding Stock Options, Stock Purchase Rights and
other Plan awards).

      f. The Plan and all awards made and actions taken thereunder shall be
governed by, and construed in accordance with, the laws of the State of
Delaware.

SECTION 14. Stockholder Approval.

      a. Continuance of the Plan shall be subject to approval by a majority of
the shareholders of the Company entitled to vote thereon within twelve (12)
months after the date the Plan is adopted by the Board. If such shareholder
approval is obtained at a duly held

                                       17
<PAGE>   19
shareholders' meeting, it must be obtained by the affirmative vote of the
holders of a majority of the outstanding shares of the Company, or if such
shareholder approval is obtained by written consent, it must be obtained by the
written consent of the holders of a majority of the outstanding shares of the
Company; provided, however, that approval at a meeting or by written consent may
be obtained by a lesser degree of shareholder approval if the Board determines,
in its discretion after consultation with the Company's legal counsel, that such
a lesser degree of shareholder approval will comply with all applicable laws and
will not adversely affect the qualification of the Plan under Section 422 of the
Code.

      b. If and in the event that the Company registers any class of equity
securities pursuant to Section 12 of the Exchange Act, any required approval of
the shareholders of the Company obtained after such registration shall be
solicited substantially in accordance with Section 14(a) of the Exchange Act and
the rules and regulations promulgated thereunder.

      c. If any required approval by the shareholders of the Plan itself or of
any amendment thereto is solicited at any time otherwise than in the manner
described in Section 14(b) hereof, then the Company shall, at or prior to the
first annual meeting of shareholders held subsequent to the later of (1) the
first registration of any class of equity securities of the Company under
Section 12 of the Exchange Act or (2) the granting of an award hereunder to an
officer or director after such registration, do the following:

            (i)   furnish in writing to the holders entitled to vote for the
                  Plan substantially the same information which would be
                  required (if proxies to be voted with respect to approval or
                  disapproval of the Plan or amendment were then being
                  solicited) by the rules and regulations in effect under
                  Section 14(a) of the Exchange Act at the time such information
                  is furnished; and

            (ii)  file with, or mail for filing to, the Securities and Exchange
                  Commission four copies of the written information referred to
                  in subsection (i) hereof not later than the date on which such
                  information is first sent or given to shareholders.

SECTION 15.  Term of Plan.

      No Stock Option, Stock Appreciation Right, Restricted Stock award,
Deferred Stock award, Stock Purchase Right or Other Stock-Based Award shall be
granted pursuant to the Plan on or after the tenth anniversary of the date of
shareholder approval or Committee approval, whichever is earlier, but awards
granted prior to such tenth anniversary may extend beyond that date.

SECTION 16.  Definitions.

      For purposes of the Plan, the following terms shall be defined as set
forth below:

                                       18
<PAGE>   20
      a. "Affiliate" means any entity other than the Company and its
Subsidiaries that is designated by the Board as a participating employer under
the Plan, provided that the Company directly or indirectly owns at least twenty
percent (20%) of the combined voting power of all classes of stock of such
entity or at least twenty percent (20%) of the ownership interests in such
entity.

      b. "Board" means the Board of Directors of the Company.

      c. "Book Value" means, as of any given date, on a per share basis, (i) the
shareholders' equity in the Company as of the end of the immediately preceding
fiscal year as reflected in the Company's consolidated balance sheet, subject to
such adjustments as the Board shall specify at or after grant, divided by (ii)
the number of then outstanding shares of Stock as of such year-end date (as
adjusted by the Board for subsequent events).

      d. "Cause" shall have the meaning set forth in Section 5(i) above.

      e. "Code" means the Internal Revenue Code of 1986, as amended.

      f. "Commission" means the Securities and Exchange Commission.

      g. "Committee" means the Committee referred to in Section 4 of the Plan.

      h. "Company" means Dynacs, Inc., a Delaware corporation.

      i. "Deferral Period" shall have the meaning set forth in Section 8(a)
above.

      j. "Deferred Stock" means an award made pursuant to Section 8 above of the
right to receive Stock at the end of a specified deferral period.

      k. "Director" shall mean any director of the Company whether compensated
or such services or not; provided that if and in the event the Company registers
any class of any equity security pursuant to Section 12 of the Exchange Act, the
term Director shall thereafter not include directors who are not compensated for
their services or are paid only a director's fee by the Company.

      l. "Disability" means disability as determined under procedures
established by the Board for purposes of the Plan.

      m. "Disinterested Person" shall have the meaning set forth in Rule
16b-3(d)(3) as promulgated by the Commission under the Exchange Act, or any
successor definition adopted by the Commission.

      n. "Elective Deferral Period" shall have the meaning set forth in Section
8(b)(v) above.

                                       19
<PAGE>   21
      o. "Employee" means any person, including officers and directors, employed
by the Company or any Affiliate or Subsidiary of the Company. The payment of a
director's fee by the Company shall not be sufficient to constitute "employment"
by the Company.

      p. "Exchange Act" means the Securities Exchange Act of 1934, as amended.

      q. "Early Retirement" means retirement, with the express consent of the
Company at or before the time of such retirement, from active employment with
the Company and any Subsidiary or Affiliate pursuant to the early retirement
provisions of the applicable qualified retirement plan of such entity.

      r. "Fair Market Value" means the fair market value as determined by the
Committee in good faith in its discretion; provided, however, that where there
is a public market for the Stock, the fair market value per share shall be the
mean of the bid and asked prices (or the closing price per share if the Stock is
listed on the National Association of Securities Dealers Automated Quotation
("NASDAQ") National Market System) of the Stock for the date of grant, as
reported in The Wall Street Journal (or, if not so reported, as otherwise
reported by the NASDAQ System) or, in the event the Stock is listed on a stock
exchange, the fair market value per share shall be the closing price on such
exchange on the date of the grant of the option, as reported in The Wall Street
Journal.

      s. "Incentive Stock Option" means any Stock Option intended to qualify as
an "Incentive Stock Option" within the meaning of Section 422 of the Code.

      t. "Non-Qualified Stock Option" means any Stock Option that is not an
Incentive Stock Option.

      u. "Normal Retirement" means retirement from active employment with the
Company and any Subsidiary or Affiliate on or after age 65.

      v. "Other Stock-Based Award" means an award under Section 10 above that is
valued in whole or in part by reference to, or is otherwise based on, Stock.

      w. "Plan" means this Dynacs, Inc. 1999 Long Term Incentive Plan, as
amended from time to time.

      x. "Restricted Period" shall have the meaning set forth in Section 7(c)(i)
above.

      y. "Restricted Stock" means an award of shares of Stock that is subject to
restrictions under Section 7 above.

      z. "Retirement" means Normal or Early Retirement.

      aa. "Stock" means the Common Stock, $.01 par value, of the Company.

                                       20
<PAGE>   22
      bb. "Stock Appreciation Right" means the right pursuant to an award
granted under Section 6 above to surrender to the Company all (or a portion) of
a Stock Option in exchange for an amount equal to the difference between (i) the
Fair Market Value, as of the date such Stock Option (or portion thereof) is
surrendered, of the shares of Stock covered by such Stock Option (or such
portion thereof), subject, where applicable, to the pricing provisions in
Section 6(b)(ii), and (ii) the aggregate exercise price of such Stock Option (or
such portion thereof).

      cc. "Stock Option" or "Option" means any option to purchase shares of
Stock (including Restricted Stock and Deferred Stock, if the Committee so
determines) granted pursuant to Section 5 above.

      dd. "Stock Purchase Right" means the right to purchase Stock pursuant to
Section 9.

      ee. "Subsidiary" means a "subsidiary corporation," whether now or
hereafter existing, as defined in Section 424(f) of the Code.

                                       21
<PAGE>   23
                                   DYNACS INC.

                  FORM OF NON-QUALIFIED STOCK OPTION AGREEMENT

      Dynacs, Inc., a Delaware corporation (the "Company") hereby grants as of
this __ day of _____, ___ to __________, residing at ______________________ (the
"Option Holder") an option to purchase a maximum of _______ of its Common Stock,
$.01 par value per share (the "Stock"), at a price of $____ per share, on the
following terms and conditions:

      1. Grant Under 1999 Long Term Incentive Plan. This option is granted
pursuant to and subject to all of the terms and conditions of the Company's 1999
Long Term Incentive Plan (the "Plan") and, unless the context otherwise
requires, terms used herein shall have the same meaning as in the Plan.
Determinations made in connection with this option shall be governed by the Plan
as it exists on this date and, in the event of any inconsistency or conflict
between this Agreement and the Plan, the terms of the Plan shall govern. In
particular, without affecting the generality of the foregoing, it is understood
that for the purposes of Sections 2 and 4 hereof, employment by the Company
includes employment by a Subsidiary as defined in the Plan.

      2. Limitations on Exercise of Option if Relationship Continues. If the
Option Holder has been in continuous association, without interruption, with the
Company or its successor companies, as an employee, consultant, officer or
director from date hereof through the date of exercise, the Option Holder may
exercise this option to purchase up to the number of shares of Stock set forth
below opposite the applicable period and at the price provided for herein:

      ____ option shares on or after __________ __, ____
      ____ option shares on or after __________ __, ____
      ____ option shares on or after __________ __, ____
      ____ option shares on or after __________ __, ____
      ____ option shares on or after __________ __, ____

      The foregoing rights are cumulative and may be exercised up to and
including the date which is ten (10) years after the date hereof (the
"Termination Date"). Such rights are subject to Sections 3 and 4 (as
appropriate) if the Option Holder dies or ceases to be an employee, consultant,
officer or director of the Company, Section 12 if the Company merges or
consolidates with another corporation, and Section 14 if the Option Holder
exercises this option.

      3. Termination by Death, Disability or Retirement.

            3.1 Death. If the Option Holder dies before the Termination Date,
this option may be exercised by his personal representative, but only to the
extent it was exercisable by the Option Holder on the date of the Option
Holder's death and only during the period ending on the earlier to occur of one
year after such death and the Termination Date. At the end of such period, this
option shall expire and the estate, personal representative or beneficiary of
the Option Holder shall have no rights other than those of a stockholder
resulting from the exercise of this option before such expiration.

                                       22
<PAGE>   24
            3.2 Disability. If the Option Holder's employment by the Company
terminates by reason of Disability, this option may thereafter be exercised by
the Option Holder or his personal representative, but only to the extent it was
exercisable by the Option Holder at the time of such termination, during the
period ending on the earlier to occur of ninety (90) days from the date of such
termination of employment and the Termination Date; provided, however, that, if
the Option Holder dies within such ninety (90) day period, any unexercised
portion of this option shall thereafter be exercisable in accordance with
Section 3.1.

            3.3 Retirement. If the Option Holder's employment by the Company
terminates by reason of Normal or Early Retirement, this option may thereafter
be exercised by the Option Holder, but only to the extent it was exercisable at
the time of such Retirement, during the period ending on the earlier to occur of
ninety (90) days from the date of such termination of employment and the
Termination Date; provided, however, that, if the Option Holder dies within such
ninety (90) day period, any unexercised option shall thereafter be exercisable
in accordance with Section 3.1.

      4. Termination of Relationship. If the Option Holder ceases to be
associated with the Company as an employee, consultant, officer or director
other than by reason of Death, Disability or Retirement, this option shall
terminate, except that this option may be exercised by the Option Holder, only
to the extent otherwise then exercisable, during the period ending on the
earlier to occur of three (3) months from the date of such termination and the
Termination Date if the Option Holder is involuntarily terminated without Cause
by the Company or its successor companies. Whether authorized leave of absence
or absence for military service may constitute service as an employee,
consultant, officer or director for the purposes of this Agreement shall be
conclusively determined by the Board of Directors of the Company. Nothing in
this Agreement shall be deemed to give the Option Holder the right to be
retained by the Company for any period of time as an employee, consultant,
officer or director.

      5. Partial Exercise. Exercise of this option may be made in part at any
time and from time to time, provided such exercise is for a whole number of
shares of Stock. However, this option may not be exercised to purchase more than
the number of shares indicated in Section 2, as such number may be adjusted
pursuant to Section 12.

      6. Payment of Purchase Price; Withholding Taxes. The option purchase
price, together with any state or federal withholding taxes due as a result of
the exercise of this option, is payable upon exercise of this option either (i)
in United States dollars in cash or by check, or (ii) at the discretion of the
Board of Directors of the Company through delivery of shares of Stock of the
Company having a fair market value equal to the option purchase price as of the
date of exercise, or (iii) at the discretion of the Board of Directors of the
Company by a combination of (i) and (ii) above.

      7. Method of Exercising Option. Subject to the terms and conditions of
this Agreement, this option shall be exercised by written notice to the Company,
at its principal executive offices at 35111 U.S. Highway 19 North, Suite 300,
Palm Harbor, Florida 34684, or to such transfer agent or other address as the
Company shall designate. Such notice of exercise shall

                                       23
<PAGE>   25
state that this option is being exercised and the number of shares of Stock for
which it is being exercised, and shall be signed by the person or persons so
exercising this option. Such notice shall also be accompanied by payment of the
full purchase price of such shares of Stock (whether such payment is made in
cash or shares of Stock or a combination of both, as provided in Section 6
hereof) together with any state and federal withholding taxes due as a result of
the exercise of this option. The Company shall deliver a certificate or
certificates representing such shares of Stock after such notice and payment are
received. The certificate or certificates for the shares of Stock for which the
option shall have been so exercised shall be registered in the name of the
person or persons so exercising the option (or, if the option shall be exercised
by the Option Holder and if the Option Holder shall so request in the notice
pertaining to the exercise of the option, shall be registered in the name of the
Option Holder and another person jointly, with right of survivorship) and shall
be delivered as provided above to or upon the written order of the person or
persons exercising the option. In the event the option shall be exercised
pursuant to Section 3 hereof, by any person or persons other than the Option
Holder, such notice shall be accompanied by appropriate proof of the right of
such person or persons to exercise the option. All shares of Stock that shall be
purchased upon the exercise of the option as provided herein shall be fully paid
and nonassessable.

      8. Option Not Transferable. This option is not transferable or assignable
except by will or by the laws of descent and distribution. During the Option
Holder's lifetime, only the Option Holder may exercise this option.

      9. No Obligation to Exercise Option. The grant and acceptance of this
option impose no obligation on the Option Holder to exercise it.

      10. No Rights as Stockholder Until Exercise. The Option Holder shall have
no rights as a stockholder with respect to any shares of Stock issuable upon
exercise of this option until a stock certificate therefor has been issued to
him and is fully paid for. Except as expressly provided below with respect to
stock dividends, no adjustment shall be made for dividends or other rights for
which the record date precedes the date such stock certificate is issued.

      11. Tax Consequences. The Option Holder recognizes that this option is
being granted as a result of his performance of services for the Company and
that, under present federal income tax laws, the Option Holder shall include in
his gross income, for any year in which he exercises this option, the excess of
the fair market value of the Stock acquired over the amount paid for said Stock.
The Option Holder agrees to obtain his own tax advice.

      12. Capital Changes and Business Successions. It is the purpose of this
option to encourage the Option Holder to work for the best interests of the
Company and its stockholders. In order to avoid any conflict between the Option
Holder's interests and the Company's interests that might arise upon the
issuance of a stock dividend or a merger with another corporation (other than a
wholly-owned subsidiary of the Company), the Plan contains various provisions
for the adjustment of the number of shares of Stock subject to this option and
related provisions with respect to successors to the business of the Company and
with respect to the assumption and substitution of options. Such provisions of
the Plan, including, without limitation those

                                       24
<PAGE>   26
respecting the discretion of the Company's Board of Directors, are hereby made
applicable hereunder and are incorporated herein by reference in their entirety.

      13. Agreement to Purchase for Investment. By his acceptance of this option
the Option Holder agrees that if he purchases shares of Stock under this option
he will purchase them for investment and not with a view to their distribution,
as that term is used in the Securities Act of 1933, as amended (the "Securities
Act"), unless in the opinion of counsel to the Company, such distribution is in
compliance with or exempt from the registration and prospectus delivery
requirement of the Securities Act. The Option Holder agrees to sign a
certificate to that effect at such time or times he exercises this option. The
Company shall have no obligation to register the shares of Stock issuable upon
exercise of this option under the Securities Act or the securities laws of any
state. Furthermore, the Company may place a legend on any stock certificate
delivered upon exercise of this option to the effect that the shares represented
by such certificate were acquired pursuant to an investment representation and
without registration under the Securities Act or the securities laws of any
state.

      14. Governing Law. This Agreement shall be governed by, and interpreted in
accordance with, the laws of the State of New York.

                                    DYNACS ENGINEERING COMPANY, INC.

                                    By:__________________________________
                                          Name:
                                          Title:

                                       25<PAGE>   1
                                                                   Exhibit 10.17

                                PROMISSORY NOTE
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
  Principal     Loan Date   Maturity     Loan No    Call    Collateral   Account   Officer   Initials
<C>            <C>          <C>          <C>        <C>     <C>          <C>       <C>       <C>
$4,000,000.00  01-20-1999                                       07                    18
-----------------------------------------------------------------------------------------------------
     References in the shaded area are for Lender's use only and do not limit the applicability
                           of this document to any particular loan or item.
-----------------------------------------------------------------------------------------------------
</TABLE>

BORROWER: Dynacs Engineering Company, Inc.
          35111 U.S. 19 North
          Palm Harbor, Fl 34684

LENDER:   First National Bank of Florida
          1150 Cleveland Street
          Clearwater, Fl 33755

================================================================================

PRINCIPAL AMOUNT: $4,000,000.00

INITIAL RATE:    9.750%

DATE OF NOTE:     JANUARY 20, 1999

PROMISE TO PAY. Dynacs Engineering Company, Inc. ("Borrower") promises to pay to
First National Bank of Florida ("Lender"), or order, in lawful money of the
United States of America, on demand, the principal amount of Four Million &
00/100 Dollars ($4,000,000.00) or so much as may be outstanding, together with
interest on the unpaid outstanding principal balance of each advance. Interest
shall be calculated from the date of each advance until repayment of each
advance.

PAYMENT. Borrower will pay this loan immediately upon Lender's demand. In
addition, Borrower will pay regular monthly payments of all accrued unpaid
interest due as of each payment date, beginning February 20, 1999, with all
subsequent interest payments to be due on the same day of each month after
that. The annual interest rate for this Note is computed on 365/360 basis; that
is, by applying the ratio of the annual interest rate over a year of 360 days,
multiplied by the outstanding principal balance, multiplied by the actual
number of days the principal balance is outstanding. Borrower will pay Lender
at Lender's address shown above or at such other place as Lender may designate
in writing. Unless otherwise agreed or required by applicable law, payments
will be applied first to accrued unpaid interest, then to principal, and any
remaining amount to any unpaid collection costs and late charges.

VARIABLE INTEREST RATE. The interest rate on this Note is subject to change
from time to time based on changes in an index which is the "First National
Bank of Florida Base Rate" (the "Index"). The Index is not necessarily the
lowest rate charged by Lender on its loans and is set by Lender in its sole
discretion. If the Index becomes unavailable during the term of this loan,
Lender may designate a substitute index after notifying Borrower. Lender will
tell Borrower the current Index rate upon Borrower's request. Borrower
understands that Lender may make loans based on other rates as well. The
interest rate change will not occur more often than each day of index change.
The Index currently is 7.750% per annum. The interest rate to be applied to the
unpaid principal balance of this Note will be at a rate of 2,000 percentage
points over the Index, resulting in an initial rate of 9.750% per annum.
NOTICE: Under no circumstances will the effective rate of interest on this Note
be more than the maximum rate allowed by applicable law.

PREPAYMENT; MINIMUM INTEREST CHARGE. If any event, even upon full prepayment of
this Note, Borrower understands that Lender is entitled to a minimum interest
charge of $10.00. Other than Borrower's obligation to pay any minimum interest
charge, Borrower may pay without penalty all or a portion of the amount owed
earlier than it is due. Early payments will not, unless agreed to by Lender in
writing, relieve Borrower of Borrower's obligation to continue to make payments
of accrued unpaid interest. Rather, they will reduce the principal balance due.

LATE CHARGE.  If a regularly scheduled interest payment is 11 days or more
late, Borrower will be charged 5.000% of the unpaid portion of the regularly
scheduled payment. If Lender demands payment of this loan, and Borrower does
not pay the loan within 11 days after Lender's demand, Borrower also will be
charged 5.000% of the unpaid portion of the sum of the unpaid principal plus
accrued unpaid interest.

DEFAULT. Borrower will be in default if any of the following happens: (a)
Borrower fails to make any payment when due. (b) Borrower breaks any promise
Borrower has made to Lender, or Borrower fails to comply with or to perform
when due any other term, obligation, covenant, or condition contained in this
Note or any agreement related to this Note, or in any other agreement or loan
Borrower has with Lender. (c) Borrower defaults under any loan, extension of
credit, security agreement, purchase or sales agreement, or any other
agreement, in favor of any other creditor or person that may materially affect
any of Borrower's property or Borrower's ability to repay this Note or perform
Borrower's obligations under this Note or any of the Related Documents. (d) Any
representation or statement made or furnished to Lender by Borrower or on
Borrower's behalf is false or misleading in any material respect either now or
at the time made or furnished. (e) Borrower becomes insolvent, a receiver is
appointed for any part of Borrower's property, Borrower makes an assignment for
the benefit of creditors, or any proceeding is commenced either by Borrower or
against Borrower under any bankruptcy or insolvency laws. (f) Any creditor
tries to take any of Borrower's property on or in which Lender has a lien or
security interest. This includes a garnishment of any of Borrower's accounts
with Lender. (g) Any guarantor dies or any of the other events described in
this default section occurs with respect to any guarantor of this Note. (h) A
material adverse change occurs in Borrower's financial condition, or Lender
believes the prospect of payment or performance of the indebtedness is
impaired. (i) Failure to meet the deadlines required in the Year 2000
Compliance Agreement to be Year 2000 Compliant or a reasonable likelihood that
Borrower cannot be Year 2000 Compliant on or before December 31, 1999. (j)
Lender in good faith deems itself insecure.

LENDER'S RIGHTS. Upon default, Lender may declare the entire unpaid principal
balance on this Note and all accrued unpaid interest immediately due, without
notice, and then Borrower will pay that amount. Upon default, including failure
to pay upon final maturity, Lender, at its option, may also, if permitted under
applicable law, increase the variable interest rate on this Note to 18.000% per
annum, if and to the extent that the increase does not cause the interest rate
to exceed the maximum rate permitted by applicable law. Lender may hire or pay
someone else to help collect this Note if Borrower does not pay. Borrower also
will pay Lender the amount of these costs and expenses, which includes, subject
to any limits under applicable law, Lender's reasonable attorneys' fees and
Lender's legal expenses whether or not there is a lawsuit, including reasonable
attorneys' fees and legal expenses for bankruptcy proceedings (including
efforts to modify or vacate any automatic stay or injunction), appeals, and any
anticipated post-judgment collection services. If not prohibited by applicable
law, Borrower also will pay any court costs, in addition to all other sums
provided by law. THIS NOTE HAS BEEN DELIVERED TO LENDER AND ACCEPTED BY LENDER
IN THE STATE OF FLORIDA. IF THERE IS A LAWSUIT, BORROWER AGREES UPON LENDER'S
REQUEST TO SUBMIT TO THE JURISDICTION OF THE COURTS OF PINELLAS COUNTY, THE
STATE OF FLORIDA. LENDER AND BORROWER HEREBY WAIVE THE RIGHT TO ANY JURY TRIAL
IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM BROUGHT BY EITHER LENDER OR BORROWER
AGAINST THE OTHER. (INITIAL HERE [ILLEGIBLE]) THIS NOTE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA.

RIGHT OF SETOFF. Borrower grants to Lender a contractual security interest in,
and hereby assigns, conveys, delivers, pledges and transfers to Lender all
Borrower's right, title and interest in and to, Borrower's accounts with Lender
(whether checking, savings, or some other account), including without
limitation all accounts held jointly with someone else and all accounts
Borrower may open in the future, excluding however all IRA and Keogh accounts,
and all trust accounts for which the grant of a security interest would be
prohibited by law. Borrower authorizes Lender, to the extent permitted by
applicable law, to charge or setoff all sums owing on this Note against any and
all such accounts.

COLLATERAL. This Note is secured by an Assignment of specific NASA contract and
all business assets of Debtor as described in the Commercial Security Agreement
and Assignment of Claims under Government Contract dated 6/22/98.

LINE OF CREDIT. This Note evidences a revolving line of credit. Advances under
this Note may be requested either orally or in writing by Borrower or by an
authorized person. Lender may, but need not, require that all oral requests be
confirmed in writing. All communications, instructions or directions by
telephone or otherwise to Lender are to be directed to Lender's office shown
above. The following party or parties are authorized to request advances under
the line of credit until Lender receives from Borrower at Lender's Address
shown above written notice of revocation of their
<PAGE>   2
01-20-1999                      PROMISSORY NOTE                           PAGE 2
                                  (CONTINUED)

================================================================================

authority: RAMENDRA SINGH, PRESIDENT; AND RAVI VENUGOPAL, SECRETARY. Borrower
agrees to be liable for all sums either: (a) advanced in accordance with the
instructions of an authorized person or (b) credited to any of Borrower's
accounts with Lender. The unpaid principal balance owing on this Note at any
time may be evidenced by endorsements on this Note or by Lender's internal
records, including daily computer print-outs. Lender will have no obligation to
advance funds under this Note if: (a) Borrower or any guarantor is in default
under the terms of this Note or any agreement that Borrower or any guarantor has
with Lender, including any agreement made in connection with the signing of this
Note; (b) Borrower or any guarantor ceases doing business or is insolvent; (c)
any guarantor seeks, claims or otherwise attempts to limit, modify or revoke
such guarantor's guarantee of this Note or any other loan with Lender; (d)
Borrower has applied funds provided pursuant to this Note for purposes other
than those authorized by Lender; or (e) Lender in good faith deems itself
insecure under this Note or any other agreement between Lender and Borrower.

PRIOR NOTE. This is a modification of the Promissory Notes dated 6/22/98, in the
original amount of $3,000,000.00, with a current balance of $1,974,187.87, on
which documentary stamps were previously paid. The Promissory Note is hereby
increased by $1,000,000.00, on which documentary stamps in the amount of
$3,500.00 are affixed hereto.

GENERAL PROVISIONS. This Note is payable on demand. The inclusion of specific
default provisions or rights of Lender shall not preclude Lender's right to
declare payment of this Note on its demand. If any part of this Note cannot be
enforced, this fact will not affect the rest of the Note. Borrower does not
agree or intend to pay, and Lender does not agree or intend to contract for,
charge, collect, take, reserve or receive (collectively referred to herein as
"charge or collect"), any amount in the nature of interest or in the nature of a
fee for this loan, which would in any way or event (including demand,
prepayment, or acceleration) cause Lender to charge or collect more for this
loan than the maximum Lender would be permitted to charge or collect by federal
law or the law of the State of Florida (as applicable). Any such excess interest
or unauthorized fee shall, instead of anything stated to the contrary, be
applied first to reduce the principal balance of this loan, and when the
principal has been paid in full, be refunded to Borrower. Lender may delay or
forgo enforcing any of its rights or remedies under this Note without losing
them. Borrower and any other person who signs, guarantees or endorses this Note,
to the extent allowed by law, waive presentment, demand for payment, protest and
notice of dishonor. Upon any change in the terms of this Note, and unless
otherwise expressly stated in writing, no party who signs this Note, whether as
maker, guarantor, accommodation maker or endorser, shall be released from
liability. All such parties agree that Lender may renew or extend (repeatedly
and for any length of time) this loan, or release any party or guarantor or
collateral; or impair, fail to realize upon or perfect Lender's security
interest in the collateral; and take any other action deemed necessary by Lender
without the consent of or notice to anyone. All such parties also agree that
Lender may modify this loan without the consent of or notice to anyone other
than the party with whom the modification is made.

PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF
THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO
THE TERMS OF THE NOTE AND ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THE NOTE.

BORROWER:

Dynacs Engineering Company, Inc.

By: /s/ RP Singh
    ------------------------------
    Ramendra Singh, President

================================================================================

<PAGE>   3
                              COMMERCIAL GUARANTY

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------
Principal  Loan Date  Maturity  Loan No. Call Collateral  Account   Officer  Initial
<S>         <C>        <C>       <C>     <C>  <C>         <C>       <C>      <C>
                                                07                    18
------------------------------------------------------------------------------------
</TABLE>

References in the shaded area are for Lender's use only and do not limit the
applicability of this document to any particular loan or item.
________________________________________________________________________________

Borrower:  Dynacs Engineering Company, Inc.
           35111 U.S. 19 North
           Palm Harbor, FL 34684

Lender:    First National Bank of Florida
           1150 Cleveland Street
           Clearwater, FL 33755

Guarantor: Ramendra Singh
           118 Harbor Drive
           Palm Harbor, FL 34684

================================================================================

AMOUNT OF GUARANTY. The amount of this Guaranty is Unlimited.

CONTINUING UNLIMITED GUARANTY. For good and valuable consideration, Ramendra
Singh ("Guarantor") absolutely and unconditionally guarantees and promises to
pay to First National Bank of Florida ("Lender") or its order, on demand, in
legal tender of the United States of America, the Indebtedness (as that term is
defined below) of Dynacs Engineering Company, Inc. ("Borrower") to Lender on the
terms and conditions set forth in this Guaranty. Under this Guaranty, the
liability of Guarantor is unlimited and the obligations of Guarantor are
continuing.

DEFINITIONS. The following words shall have the following meanings when used in
this Guaranty:

     Borrower.  The word "Borrower" means Dynacs Engineering Company, Inc.

     Guarantor. The word "Guarantor" means Ramendra Singh.

     Guaranty.  The word "Guaranty" means this Guaranty made by Guarantor for
     the benefit of Lender dated January 20, 1999.

     Indebtedness. The word "Indebtedness" is used in its most comprehensive
     sense and means and includes any and all of Borrower's liabilities,
     obligations, debts, and indebtedness to Lender, now existing or hereinafter
     incurred or created, including, without limitation, all loans, advances,
     interest, costs, debts, overdraft indebtedness, credit card indebtedness,
     lease obligations, other obligations, and liabilities of Borrower, or any
     of them, and any present or future judgments against Borrower, or any of
     them; and whether any such Indebtedness is voluntarily or involuntarily
     incurred, due or not due, absolute or contingent, liquidated or
     unliquidated, determined or undetermined; whether Borrower may be liable
     individually or jointly with others, or primarily or secondarily, or as
     guarantor or surety; whether recovery on the Indebtedness may be or may
     become barred or unenforceable against Borrower for any reason whatsoever;
     and whether the Indebtedness arises from transactions which may be voidable
     on account of infancy, insanity, ultra vires, or otherwise.

     Lender. The word "Lender" means First National Bank of Florida, its
     successors and assigns.

     Related Documents. The words "Related Documents" mean and include without
     limitation all promissory notes, credit agreements, loan agreements,
     environmental agreements, guaranties, security agreements, mortgages, deeds
     of trust, and all other instruments, agreements and documents, whether now
     or hereafter existing, executed in connection with the Indebtedness.

NATURE OF GUARANTY. Guarantor's liability under this Guaranty shall be open and
continuous for so long as this Guaranty remains in force. Guarantor intends to
guarantee at all times the performance and prompt payment when due, whether at
maturity or earlier by reason of acceleration or otherwise, of all indebtedness.
Accordingly, no payments made upon the Indebtedness will discharge or diminish
the continuing liability of Guarantor in connection with any remaining portions
of the indebtedness or any of the Indebtedness which subsequently arises or is
thereafter incurred or contracted.

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender
without the necessity of any acceptance by Lender, or any notice to Guarantor or
to Borrower, and will continue in full force until all Indebtedness incurred or
contracted before receipt by Lender of any notice of revocation shall have been
fully and finally paid and satisfied and all other obligations of Guarantor
under this Guaranty shall have been performed in full. If Guarantor elects to
revoke this Guaranty, Guarantor may only do so in writing. Guarantor's written
notice of revocation must be mailed to Lender, by certified mail, at the address
of Lender listed above or such other place as Lender may designate in writing.
Written revocation of this Guaranty will apply only to advances or new
Indebtedness created after actual receipt by Lender of Guarantor's written
revocation. For this purpose and without limitation, the term "new Indebtedness"
does not include Indebtedness which at the time of notice of revocation is
contingent, unliquidated, undetermined or not due and which later becomes
absolute, liquidated, determined or due. This Guaranty will continue to bind
Guarantor for all Indebtedness incurred by Borrower or committed by Lender prior
to receipt of Guarantor's written notice of revocation, including any
extensions, renewals, substitutions or modifications of the Indebtedness. All
renewals, extensions, substitutions, and modifications of the Indebtedness
granted after Guarantor's revocation, are contemplated under this Guaranty and,
specifically will not be considered to be new Indebtedness. This Guaranty shall
bind the estate of Guarantor as to Indebtedness created both before and after
the death or incapacity of Guarantor, regardless of Lender's actual notice of
Guarantor's death. Subject to the foregoing, Guarantor's executor or
administrator or other legal representative may terminate this Guaranty in the
same manner in which Guarantor might have terminated it and with the same
effect. Release of any other guarantor or termination of any other guaranty of
the Indebtedness shall not affect the liability of Guarantor under this
Guaranty. A revocation received by Lender from any one or more Guarantors shall
not affect the liability of any remaining Guarantors under this Guaranty. It is
anticipated that fluctuations may occur in the aggregate amount of Indebtedness
covered by this Guaranty, and it is specifically acknowledged and agreed by
Guarantor that reductions in the amount of Indebtedness, even to zero dollars
($0.00), prior to written revocation of this Guaranty by Guarantor shall not
constitute a termination of this Guaranty. This Guaranty is binding upon
Guarantor and Guarantor's heirs, successors and assigns so long as any of the
guaranteed Indebtedness remains unpaid and even though the Indebtedness
guaranteed from time to time be zero dollars ($0.00).

GUARANTOR'S AUTHORIZATION TO LENDER. Guarantor authorizes Lender, either before
or after any revocation hereof, without notice or demand and without lessening
Guarantor's liability under this Guaranty, from time to time: (a) prior to
revocation as set forth above, to make one or more additional secured or
unsecured loans to Borrower, to lease equipment or other goods to Borrower, or
otherwise to extend additional credit to Borrower; (b) to alter, compromise,
renew, extend, accelerate, or otherwise change one or more times the time for
payment or other terms of the Indebtedness or any part of the Indebtedness,
including increases and decreases of the rate of interest on the Indebtedness;
extensions may be repeated and may be for longer than the original loan term;
(C) to take and hold security for the payment of this Guaranty or the
Indebtedness, and exchange, enforce, waive, subordinate, fail or decide not to
perfect, and release any such security, with or without the substitution of new
collateral; (d) to release, substitute, agree not to sue, or deal with any one
or more of Borrower's sureties, endorsers, or other guarantors on any terms or
in any manner Lender may choose; (e) to determine how, when and what application
of payments and credits shall be made on the Indebtedness; (f) to apply such
security and direct the order or manner of sale thereof, including without
limitation, any nonjudicial sale permitted by the terms of the controlling
security agreement or deed of trust, as Lender in its discretion may determine;
(g) to sell, transfer, assign, or grant participations in all or any part of the
Indebtedness; and (h) to assign or transfer this Guaranty in whole or in part.
<PAGE>   4
01-20-1999                    COMMERCIAL GUARANTY                         Page 2
                                  (CONTINUED)
================================================================================

GUARANTOR'S REPRESENTATIONS AND WARRANTIES.  Guarantor represents and warrants
to Lender that (a) no representations or agreements of any kind have been made
to Guarantor which would limit or qualify in any way the terms of this Guaranty;
(b) this Guaranty is executed at Borrower's request and not at the request of
Lender; (c) Guarantor has full power, right and authority to enter into this
Guaranty; (d) the provisions of this Guaranty do not conflict with or result in
a default under any agreement or other instrument binding upon Guarantor and do
not result in a violation of any law, regulation, court decree or order
applicable to Guarantor; (e) Guarantor has not and will not, without the prior
written consent of Lender, sell, lease, assign, encumber, hypothecate, transfer,
or otherwise dispose of all or substantially all of Guarantor's assets, or any
interest therein; (f) upon Lender's request, Guarantor will provide to Lender
financial and credit information in form acceptable to Lender, and all such
financial information which currently has been, and all future financial
information which will be provided to Lender is and will be true and correct in
all material respects and fairly present the financial condition of Guarantor as
of the dates the financial information is provided; (g) no material adverse
change has occurred in Guarantor's financial condition since the date of the
most recent financial statements provided to Lender and no event has occurred
which may materially adversely affect Guarantor's financial condition; (h) no
litigation, claim, investigation, administrative proceeding or similar action
(including those for unpaid taxes) against Guarantor is pending or threatened;
(i) Lender has made no representation to Guarantor as to the creditworthiness of
Borrower; and (j) Guarantor has established adequate means of obtaining from
Borrower on a continuing basis information regarding Borrower's financial
condition. Guarantor agrees to keep adequately informed from such means of any
facts, events, or circumstances which might in any way affect Guarantor's risks
under this Guaranty, and Guarantor further agrees that, absent a request for
information, Lender shall have no obligation to disclose to Guarantor any
information or documents acquired by Lender in the course of its relationship
with Borrower.

GUARANTOR'S WAIVERS.  Except as prohibited by applicable law, Guarantor waives
any right to require Lender (a) to continue lending money or to extend other
credit to Borrower; (b) to make any presentment, protest, demand, or notice of
any kind, including notice of any nonpayment of the Indebtedness or of any
nonpayment related to any collateral, or notice of any action or nonaction on
the part of Borrower, Lender, any surety, endorser, or other guarantor in
connection with the Indebtedness or in connection with the creation of new or
additional loans or obligations; (c) to resort for payment or to proceed
directly or at once against any person, including Borrower or any other
guarantor; (d) to proceed directly against or exhaust any collateral held by
Lender from Borrower, any other guarantor, or any other person; (e) to pursue
any other remedy within Lender's power; or (f) to commit any act or omission of
any kind, or at any time, with respect to any matter whatsoever.

If now or hereafter (a) Borrower shall be or become insolvent, and (b) the
Indebtedness shall not at all times until paid be fully secured by collateral
pledged by Borrower, Guarantor hereby forever waives and relinquishes in favor
of Lender and Borrower, and their respective successors, any claim or right to
payment Guarantor may not have or hereafter have or acquire against Borrower, by
subrogation or otherwise, so that at no time shall Guarantor be or become a
"creditor" of Borrower within the meaning of 11 U.S.C, section 547(b), or any
successor provision of the Federal bankruptcy laws.

Guarantor also waives any and all rights or defenses arising by reason of (a)
any "one action" or "anti-deficiency" law or any other law which may prevent
Lender from bringing any action, including a claim for deficiency, against
Guarantor, before or after Lender's commencement or completion of any
foreclosure action, either judicially or by exercise of a power of sale; (b) any
election of remedies by Lender which destroys or otherwise adversely affects
Guarantor's subrogation rights or Guarantor's rights to proceed against Borrower
for reimbursement, including without limitation, any loss of rights Guarantor
may suffer by reason of any law limiting, qualifying, or discharging the
Indebtedness; (c) any disability or other defense of Borrower, of any other
guarantor, or of any other person, or by reason of the cessation of Borrower's
liability from any cause whatsoever, other than payment in full in legal tender,
of the Indebtedness; (d) any right to claim discharge of the Indebtedness on the
basis of unjustified impairment of any collateral for the Indebtedness; (e)any
statute of limitations, if at any time any action or suit brought by Lender
against Guarantor is commenced there is outstanding Indebtedness of Borrower to
Lender which is not barred by any applicable statute of limitations; or (f) any
defenses given to guarantors at law or in equity other than actual payment and
performance of the Indebtedness. If payment is made by Borrower, whether
voluntarily or otherwise, or by any third party, on the Indebtedness and
thereafter Lender is forced to remit the amount of that payment to Borrower's
trustee in bankruptcy or to any similar person under any federal or state
bankruptcy law or law for the relief of debtors, the Indebtedness shall be
considered unpaid for the purpose of enforcement of this Guaranty.

Guarantor further waives and agrees not to assert or claim at any time any
deductions to the amount guaranteed under this Guaranty for any claim of setoff,
counterclaim, counter demand, recoupment or similar right, whether such claim,
demand or right may be asserted by the Borrower, the Guarantor, or both.

GUARANTOR'S UNDERSTANDING WITH RESPECT TO WAIVERS.  Guarantor warrants and
agrees that each of the waivers set forth above is made with Guarantor's full
knowledge of its significance and consequences and that, under the
circumstances, the waivers are reasonable and not contrary to public policy or
law. If any such waiver is determined to be contrary to any applicable law or
public policy, such waiver shall be effective only to the extent permitted by
law or public policy.

LENDER'S RIGHT OF SETOFF.  In addition to all liens upon and rights of setoff
against the moneys, securities or other property of Guarantor given to Lender by
law, Lender shall have, with respect to Guarantor's obligations to Lender under
this Guaranty and to the extent permitted by law, a contractual security
interest in and a right of setoff against, and Guarantor hereby assigns,
conveys, delivers, pledges, and transfers to Lender all of Guarantor's right,
title and interest in and to, all deposits, moneys, securities and other
property of Guarantor now or hereafter in the possession of or on deposit with
Lender, whether held in a general or special account or deposit, whether held
jointly with someone else, or whether held for safekeeping or otherwise,
excluding however all IRA, Keogh, and trust accounts. Every such security
interest and right of setoff may be exercised without demand upon or notice to
Guarantor. No security interest or right of setoff shall be deemed to have been
waived by any act or conduct on the part of Lender or by any neglect to exercise
such right of setoff or to enforce such security interest or by any delay in so
doing. Every right of setoff and security interest shall continue in full force
and effect until such right of setoff or security interest is specifically
waived or released by an instrument in writing executed by Lender.

SUBORDINATION OF BORROWER'S DEBTS TO GUARANTOR. Guarantor agrees that the
Indebtedness of Borrower to Lender, whether now existing or hereafter created,
shall be prior to any claim that Guarantor may now have or hereafter acquire
against Borrower, whether or not Borrower becomes insolvent. Guarantor hereby
expressly subordinates any claim Guarantor may have against Borrower, upon any
account whatsoever, to any claim that Lender may now or hereafter have against
Borrower. In the event of insolvency and consequent liquidation of the assets of
Borrower, through bankruptcy, by an assignment for the benefit of creditors, by
voluntary liquidation, or otherwise, the assets of Borrower applicable to the
payment of the claims of both Lender and Guarantor shall be paid to Lender and
shall be first applied by Lender to the Indebtedness of Borrower to Lender.
Guarantor does hereby assign to Lender all claims which it may have or acquire
against Borrower or against any assignee or trustee in bankruptcy of Borrower;
provided however, that such assignment shall be effective only for the purpose
of assuring to Lender full payment in legal tender of the Indebtedness. If
Lender so requests, any notes or credit agreements now or hereafter evidencing
any debts or obligations of Borrower to Guarantor shall be marked with a legend
that the same are subject to this Guaranty and shall be delivered to Lender.
Guarantor agrees, and Lender hereby is authorized, in the name of Guarantor,
from time to time to execute and file financing statements and continuation
statements and to execute such other documents and to take such other actions as
Lender deems necessary or appropriate to perfect, preserve and enforce its
rights under this Guaranty.

GARNISHMENT.  Guarantor consents to the issuance of a continuing writ of
garnishment or attachment against Guarantor's disposable earnings,in accordance
with Section 222.11, Florida Statutes, in order to satisfy, in whole or in part,
any money judgement entered in favor of Lender.

MISCELLANEOUS PROVISIONS.  The following miscellaneous provisions are a part of
this Guaranty:
<PAGE>   5
01-20-1999                      COMMERCIAL GUARANTY                     Page 3
                                    (CONTINUED)
===============================================================================
   AMENDMENTS. This Guaranty, together with any Related Documents, constitutes
   the entire understanding and agreement of the parties as to the matters set
   forth in this Guaranty. No alteration of or amendment to this Guaranty shall
   be effective unless given in writing and signed by the party or parties
   sought to be charged or bound by the alteration or amendment.

   APPLICABLE LAW. This Guaranty has been delivered to Lender and accepted by
   Lender in the State of Florida. If there is a lawsuit, Guarantor agrees upon
   Lender's request to submit to the jurisdiction of the courts of Pinellas
   County, State of Florida. Lender and Guarantor hereby waive the right to any
   jury trial in any action, proceeding, or counterclaim brought by either
   Lender or Guarantor against the other. (Initial Here /s/ R.S.) This Guaranty
   shall be governed by and construed in accordance with the laws of the State
   of Florida.

   ATTORNEYS' FEES; EXPENSES. Guarantor agrees to pay upon demand all of
   Lender's costs and expenses, including reasonable attorneys' fees and
   Lender's legal expenses, incurred in connection with the enforcement of this
   Guaranty. Lender may pay someone else to help enforce this Guaranty, and
   Guarantor shall pay the costs and expenses of such enforcement. Costs and
   expenses include Lender's reasonable attorneys' fees and legal expenses
   whether or not there is a lawsuit, including reasonable attorneys' fees and
   legal expenses for bankruptcy proceedings (and including efforts to modify or
   vacate any automatic stay or injunction), appeals, and any anticipated
   post-judgment collection services. Guarantor also shall pay all court costs
   and such additional fees as may be directed by the court.

   NOTICES. All notices required to be given by either party to the other under
   this Guaranty shall be in writing, may be sent by telefacsimile (unless
   otherwise required by law), and, except for revocation notices by Guarantor,
   shall be effective when actually delivered or when deposited with a
   nationally recognized overnight courier, or when deposited in the United
   States mail, first class postage prepaid, addressed to the party to whom the
   notice is to be given at the address shown above or to such other addresses
   as either party may designate to the other in writing. All revocation notices
   by Guarantor shall be in writing and shall be effective only upon delivery to
   Lender as provided above in the section titled "DURATION OF GUARANTY." If
   there is more than one Guarantor, notice to any Guarantor will constitute
   notice to all Guarantors. For notice purposes, Guarantor agrees to keep
   Lender informed at all times of Guarantor's current address.

   INTERPRETATION. In all cases where there is more than one Borrower or
   Guarantor, then all words used in this Guaranty in the singular shall be
   deemed to have been used in the plural where the context and construction so
   require; and where there is more than one Borrower named in this Guaranty or
   when this Guaranty is executed by more than one Guarantor, the words
   "Borrower" and "Guarantor" respectively shall mean all and any one or more of
   them. The words "Guarantor," "Borrower," and "Lender" include the heirs,
   successors, assigns, and transferees of each of them. Caption headings in
   this Guaranty are for convenience purposes only and are not to be used to
   interpret or define the provisions of this Guaranty. If a court of competent
   jurisdiction finds any provision of this Guaranty to be invalid or
   unenforceable as to any person or circumstance, such finding shall not render
   that provision invalid or unenforceable as to any other persons or
   circumstances, and all provisions of this Guaranty in all other respects
   shall remain valid and enforceable. If any one or more of Borrower or
   Guarantor are corporations or partnerships, it is not necessary for Lender to
   inquire into the powers of Borrower or Guarantor or of the officers,
   directors, partners, or agents acting or purporting to act on their behalf,
   and any Indebtedness made or created in reliance upon the professed exercise
   of such powers shall be guaranteed under this Guaranty.

   WAIVER. Lender shall not be deemed to have waived any rights under this
   Guaranty unless such waiver is given in writing and signed by Lender. No
   delay or omission on the part of Lender in exercising any right shall operate
   as a waiver of such right or any other right. A waiver by Lender of a
   provision of this Guaranty shall not prejudice or constitute a waiver of
   Lender's right otherwise to demand strict compliance with that provision or
   any other provision of this Guaranty. No prior waiver by Lender, not any
   course of dealing between Lender and Guarantor, shall constitute a waiver of
   any of Lender's rights or of any of Guarantor's obligations as to any future
   transactions. Whenever the consent of Lender is required under this Guaranty,
   the granting of such consent by Lender in any instance shall not constitute
   continuing consent to subsequent instances where such consent is required and
   in all cases such consent may be granted or withheld in the sole discretion
   of Lender.

EACH UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS
GUARANTY AND AGREES TO ITS TERMS. IN ADDITION, EACH GUARANTOR UNDERSTANDS THAT
THIS GUARANTY IS EFFECTIVE UPON GUARANTOR'S EXECUTION AND DELIVERY OF THIS
GUARANTY TO LENDER AND THAT THE GUARANTY WILL CONTINUE UNTIL TERMINATED IN THE
MANNER SET FORTH IN THE SECTION TITLED "DURATION OF GUARANTY." NO FORMAL
ACCEPTANCE BY LENDER IS NECESSARY TO MAKE THIS GUARANTY EFFECTIVE. THIS GUARANTY
IS DATED JANUARY 20, 1999.

GUARANTOR:
/S/ RAMENDRA SINGH
---------------------
Ramendra Singh

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