Document:

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                                                                   EXHIBIT 10.17

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                          INVESTORS' RIGHTS AGREEMENT

                            DATED FEBRUARY 22, 2000

                                    BETWEEN

                        GROUP MAINTENANCE AMERICA CORP.

                                      AND

                                 BOSS II, LLC

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                               TABLE OF CONTENTS
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                                                      Page
                                                      ----

SECTION 1.       DEFINITIONS........................    1
SECTION 2.       RIGHTS TO SUBSCRIBE FOR SECURITIES.    7
SECTION 3.       BOARD OF DIRECTORS.................    8
SECTION 4.       INFORMATION RIGHTS; COVENANTS......   11
SECTION 5.       DEMAND REGISTRATION................   13
SECTION 6.       PIGGYBACK REGISTRATION.............   15
SECTION 7.       S-3 REGISTRATIONS..................   15
SECTION 8.       EXPENSES...........................   16
SECTION 9.       PREPARATION AND FILING.............   16
SECTION 10.      INDEMNIFICATION....................   19
SECTION 11.      UNDERWRITING AGREEMENT.............   21
SECTION 12.      INFORMATION BY HOLDERS.............   21
SECTION 13.      EXCHANGE ACT COMPLIANCE............   21
SECTION 14.      NO CONFLICT OF RIGHTS..............   22
SECTION 15.      PROTECTIVE PROVISIONS..............   22
SECTION 16.      STANDSTILL.........................   25
SECTION 17.      VOTING AGREEMENT...................   25
SECTION 18.      MISCELLANEOUS......................   26

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                                      INVESTOR'S RIGHTS AGREEMENT dated as of
                                February 22, 2000, between GROUP MAINTENANCE
                                AMERICA CORP., a Texas corporation (the
                                "Company"), and BOSS II, LLC, a Delaware limited
                                liability company (the "Investor").

          The Investor currently holds the Convertible Preferred Stock, which is
initially convertible into  _________ shares of Common Stock.  The parties
hereto deem it to be in their best interests to set forth their rights and
obligations in connection with public offerings, sales of shares of Common Stock
and certain other matters.  Accordingly, the parties agree as follows:

SECTION 1.  DEFINITIONS.

          As used in this Agreement, the following terms shall have the
following meanings:

          "Accountants" has the meaning assigned to such term in Section
4(b)(iii).

          "Affiliate" has the meaning assigned to such term in the Subscription
Agreement.

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

          "Business" shall mean the provision of all manner of facilities
services to the owners, lessees or operators of industrial, commercial,
institutional and residential plants, buildings, homes and other facilities and
the properties related thereto (collectively, "Facilities"), including, without
limitation (i) design, engineering, construction, project management, repair,
replacement, maintenance and service, performance contracting, energy management
and aggregation and project financing of all of the mechanical (heating,
ventilation, air conditioning; plumbing and piping; appliance repair; fire
suppression systems) and electrical (internal and external wiring; generators
and UPS systems; voice and data systems; fire and life safety systems;
temperature control, building automation and energy management) systems, (ii)
rigging, millwright and other industrial services, (iii) janitorial, specialty
cleaning and other services for the repair, maintenance and upkeep of
Facilities, including, without limitation, the provision of onsite maintenance
and support personnel and the outsourcing of the Facilities management function
by an owner, lessee or operator of any Facilities.

          "Capital Expenditure" means any expenditure by the Company and its
Subsidiaries for the acquisition, construction, or leasing (pursuant to a
capital lease) of fixed or capital assets or additions to equipment (including
replacements, capitalized repairs and improvements during such period) which
should be capitalized under generally accepted accounting principles on a
consolidated balance sheet of the Company and its Subsidiaries; provided,
however, this definition shall not include any acquisition of a business.

          "Capitalized Lease Obligation" means, as to any Person, the
obligations of such Person under a lease that are required to be classified and
accounted for as capital lease obligations under GAAP and, for purposes of this
definition, the amount of such obligations at
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any date shall be the capitalized amount of such obligations at such date,
determined in accordance with GAAP.

          "Closing" has the meaning assigned to such term in the Subscription
Agreement.

          "Closing Date" has the meaning assigned to such term in the
Subscription Agreement.

          "Commission" means the United States Securities and Exchange
Commission or any other Federal agency at the time administering the Securities
Act.

          "Common Stock" means the Common Stock, par value $.001 per share, of
the Company.

          "Common Stock Equivalent" means one share of Common Stock or the right
to acquire, whether or not immediately exercisable, one share of Common Stock,
whether evidenced by an option, warrant, convertible security or other
instrument or agreement, in each case, as adjusted to account for any stock
splits, reverse stock splits, stock dividends or other similar event.

          "Consolidated EBITDA" means, with respect to any Person, for any
period, the sum (without duplication) of (i) Consolidated Net Income and (ii) to
the extent Consolidated Net Income has been reduced thereby, (A) all income
taxes of such Person and Subsidiaries paid or accrued in accordance with GAAP
for such period (other than income taxes attributable to extraordinary, unusual
or nonrecurring gains or losses), (B) Consolidated Interest Expense and (C)
depreciation and amortization less any out of the ordinary course non-cash items
increasing Consolidated Net Income for such period, all as determined on a
consolidated basis for such Person and its Subsidiaries in accordance with GAAP.

          "Consolidated Indebtedness" means with respect to any Person, as of
the date of determination, the aggregate amount of all Indebtedness of such
Person and its Subsidiaries on a consolidated basis included on the face of the
balance sheet of such Person (determined in accordance with GAAP) plus any
Indebtedness included on the face of the balance sheet of any other Person
(determined in accordance with GAAP) as to which such Person and/or any of its
Subsidiaries has created a guarantee or other contingent obligation (to the
extent of such guarantee or other contingent obligation).

          "Consolidated Interest Expense" means, with respect to any Person for
any period, the sum of, without duplication (i) the aggregate of the interest
expense of such Person and its Subsidiaries for such period determined on a
consolidated basis in accordance with GAAP, including without limitation, (a)
any amortization of debt discount and amortization or write-off of deferred
financing costs (including the amortization of costs relating to interest rate
caps or other similar agreements, but excluding any write-off of debt discount
or deferred financing costs resulting from the Merger or any related financing),
(b) the net costs required by GAAP to be recorded as interest expense for
Interest Swap Obligations, and (c) the interest portion of any deferred payment
obligation; and (ii) the interest component of Capitalized Lease

                                      -2-
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Obligations paid or accrued by such Person and its Subsidiaries during such
period as determined on a consolidated basis in accordance with GAAP, minus
interest income for such period.

          "Consolidated Leverage Ratio" means, with respect to any Person, the
ratio of Consolidated Indebtedness of such Person on the date of the transaction
giving rise to the need to calculate the Consolidated Leverage Ratio (the
"Transaction Date") to Consolidated EBITDA of such Person for the four full
fiscal quarters (the "Four Quarter Period") most recently ending on or prior to
the Transaction Date for which quarterly consolidated financial statements of
the Company and its Subsidiaries have been distributed to Investor.  In addition
to and without limitation of the foregoing, for purposes of this definition,
"Consolidated EBITDA" and "Consolidated Indebtedness" shall be calculated after
giving effect on a pro forma basis, including appropriate adjustments determined
in accordance with Article XI of Regulation S-X promulgated by the Commission,
for the period of such calculation for any asset sales or asset acquisitions
(including, without limitation, any asset acquisition giving rise to the need to
make such calculation as a result of such Person or one of its  Subsidiaries
(including any Person who becomes a Subsidiary as a result of the asset
acquisition) incurring, assuming or otherwise being liable for acquired
Indebtedness and also including any Consolidated EBITDA attributable to the
assets which are the subject of the asset acquisition but excluding the
Consolidated EBITDA attributable to the assets which are the subject of the
asset sale) occurring during the Four Quarter Period or at any time subsequent
to the last day of the Four Quarter Period and on or prior to the Transaction
Date, as if such asset sale or asset acquisition (including the incurrence,
assumption or liability for any such acquired Indebtedness) occurred on the
first day of the Four Quarter Period. If such Person or any of its Subsidiaries
directly or indirectly guarantees Indebtedness of a third Person, the preceding
sentence shall give effect to the incurrence of such guaranteed Indebtedness as
if such Person or any Subsidiary of such Person had directly incurred or
otherwise assumed such guaranteed Indebtedness.

          "Consolidated Net Income" means, with respect to any Person, for any
period, the aggregate net income (or loss) of such Person and its Subsidiaries
for such period on a consolidated basis, determined in accordance with GAAP;
provided that there shall be excluded therefrom (a) out of the ordinary course
after-tax gains or losses from asset sales or abandonments or reserves relating
thereto, (b) after-tax items classified as extraordinary or nonrecurring gains
or losses, (c) the net income of any Person acquired in a "pooling of interests"
transaction accrued prior to the date it becomes a Subsidiary of the referent
Person or is merged or consolidated with the referent Person or any  Subsidiary
of the referent Person, (d) the net income (but not loss) of any  Subsidiary of
the referent Person to the extent that the declaration of dividends or similar
distributions by that  Subsidiary of that income is prohibited by a contract,
operation of law or otherwise, (e) the net income of any Person, other than a
Subsidiary of the referent Person, except to the extent of cash dividends or
distributions paid to the referent Person or to a wholly owned  Subsidiary of
the referent Person by such Person, (f) in the case of a successor to the
referent Person by consolidation or merger or as a transferee of the referent
Person's assets, any earnings of the successor corporation prior to such
consolidation, merger or transfer of assets, and (g) after tax charges
associated with consummating the Merger and related financing.

          "Conversion Shares" means the shares of Common Stock issuable upon
conversion of the Convertible Preferred Stock.

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          "Convertible Preferred Stock" means the Company's 7.25% convertible
preferred stock, $.001 par value share, governed by the Statement of
Designations.

          "Credit Agreement" means the Credit Agreement dated as of February 22,
2000 between the Corporation and Bank of America, N.A., as it may be amended
from time to time, other than amendments to the size of the facility.

          "Election Notice" has the meaning assigned to such term in Section
15(c).

          "Equity-Linked Plan" shall mean a benefit or compensation plan in
which benefits or awards are denominated or payable in capital stock of the
Company, valued in whole or in part by reference to, or otherwise based on, the
value of such capital stock.

          "Event of Non-Compliance" means the occurrence of any of the
following:

(i)    any material, intentional breach by the Company of this Agreement or the
       Subscription Agreement;

(ii)   the occurrence of a payment default, or any other default giving rise to
       a right of acceleration, under any Indebtedness of the Company that has
       an aggregate principal amount outstanding, as of the date of such default
       or acceleration, in excess of $10,000,000 (after giving effect to any
       notice or cure period relating to such Indebtedness); or

(iii)  the Company or any of its material Subsidiaries shall (A) voluntarily
       commence any proceeding or file any petition seeking relief under Title
       11 of the United States Code or any other federal, state or foreign
       bankruptcy, insolvency or similar law, (B) consent to the institution of,
       or fail to controvert in a timely and appropriate manner, any such
       proceeding or the filing of any such petition, (C) apply for or consent
       to the appointment of a receiver, trustee, custodian, sequestrator or
       similar official for any such Person or for any substantial part of its
       property or assets, (D) file an answer admitting the material allegations
       of a petition filed against it in any such proceeding, (E) make a general
       assignment for the benefit of creditors, (F) fail generally to pay its
       debts as they become due or (G) take any corporate or shareholder action
       in furtherance of any of the foregoing; or

(iv)   an involuntary proceeding shall be commenced or an involuntary petition
       shall be filed in a court of competent jurisdiction seeking (A) relief in
       respect of the Company or any of its material Subsidiaries, or of any
       substantial part of their respective property or assets, under Title 11
       of the United States Code or any other federal, state or foreign
       bankruptcy, insolvency or similar law, (B) the appointment of a receiver,
       trustee, custodian, sequestrator or similar official for any such Person
       or for any substantial part of its property or (C) the winding-up or
       liquidation of any such Person, and such proceeding, petition or order
       shall continue unstayed and in effect for a period of 60 consecutive
       days.

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          "Exchange Act" means the Securities Exchange Act of 1934, and the
rules and regulations of the Commission promulgated thereunder, all as the same
shall be in effect from time to time.

          "Excluded Stock" means (i) shares of Common Stock issuable upon
exercise of any warrants or options of the Company outstanding on the Closing
Date or issued under the Company's incentive plans approved by the Board, (ii)
shares of Common Stock issued pursuant to the conversion of the Convertible
Preferred Stock, (iii) shares of Common Stock issued as consideration pursuant
to any acquisition of any business, (iv) shares of Convertible Preferred Stock
issued as dividends to the Investors, (v) shares issued pursuant to earn out
arrangements in definitive, binding agreements in existence on the date hereof
relating to acquisitions by the Company and (vi) Securities issued in an
underwritten public offering that is registered under the Securities Act.

          "Fair Market Value" has the meaning assigned to such term in the
Statement of Designations.

          "GAAP" means United States generally accepted accounting principles.

          "Indebtedness" has the meaning assigned to such term in the Statement
of Designations.

          "Information" has the meaning assigned to such term in Section 9(i).

          "Inspectors" has the meaning assigned to such term in Section 9(i).

          "Interest Swap Obligations" means the obligations of any Person
pursuant to any arrangement with any other Person, whereby, directly or
indirectly, such Person is entitled to receive from time to time periodic
payments calculated by applying either a floating or a fixed rate of interest on
a stated notional amount in exchange for periodic payments made by such other
Person calculated by applying a fixed or a floating rate of interest on the same
notional amount and shall include, without limitation, interest rate swaps,
caps, floors, collars and similar agreements.

          "Investor" means BOSS II, LLC.

          "Liquidation" has the meaning assigned to such term in the Statement
of Designations.

          "Maturity Date" has the meaning assigned to such term in the Statement
of Designations.

          "Merger" has the meaning assigned to such term in the Subscription
Agreement.

          "NASDAQ" means the automated quotation system of the NASD.

          "Notice of Acceptance" has the meaning assigned to such term in
Section 2(b).

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          "NYSE" means the New York Stock Exchange.

          "Offer" has the meaning assigned to such term in Section 2(a).

          "Offer Period" has the meaning assigned to such term in Section 2(a).

          "Offered Securities" means (A) shares of Common Stock, (B) any other
equity security of the Company, (C) any debt security of the Company which by
its terms is convertible into or exchangeable for any equity security of the
Company or has any equity participation rights, (D) any security of the Company
that is a combination of debt and equity or (E) any option, warrant or other
right to subscribe for, purchase or otherwise acquire any equity security or any
such debt security of the Company, in each case other than Excluded Stock.

          "Other Shares" means at any time those shares of Common Stock that do
not constitute Primary Shares.

          "Person" shall be construed broadly and shall include, without
limitation, an individual, a partnership, an investment fund, a limited
liability corporation, a corporation, an association, a joint stock corporation,
a trust, a joint venture, an unincorporated organization and a governmental
entity or any department, agency or political subdivision thereof.

          "Preferred Directors" has the meaning assigned to such term in Section
3(c).

          "Primary Shares" means at any time the authorized but unissued shares
of Common Stock or shares of Common Stock held by the Company in its treasury.

          "Proposed Transaction" has the meaning assigned to such term in
Section 15(c).

          "Purchase Price" has the meaning assigned to such term in Section
15(c).

          "Recapitalization" means, with respect to any Person, any transaction,
other than a merger, consolidation, amalgamation or sale of all or substantially
all of the assets of such Person, in which holders of any class of securities of
such Person receive in exchange therefor some other security of such Person or
any other issuer and/or cash, other than the issuance of cash or securities in
accordance with the terms of the securities to be exchanged or Section 8(b)(v)
of the Statement of Designations.

          "Records" has the meaning assigned to such term in Section 9(i).

          "Refused Securities" has the meaning assigned to such term in Section
2(d).

          "Representatives" has the meaning assigned to such term in Section
4(a).

          "Restricted Shares" means at any time the shares of Common Stock held
by the Investor.

          "Retained Shares" has the meaning assigned to such term in Section
15(c).

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          "Rule 144" means Rule 144 promulgated under the Securities Act or any
successor rule thereto or any complementary rule thereto.

          "Securities" means "securities" as defined in Section 2(1) of the
Securities Act and includes capital stock or other equity interests or any
options, warrants or other securities that are directly or indirectly
convertible into, or exercisable or exchangeable for, capital stock or other
equity interests.  Whenever a reference herein to Securities is referring to any
derivative Securities, the rights of Investor shall apply to such derivative
Securities and all underlying Securities directly or indirectly issuable upon
conversion, exchange or exercise of such derivative Securities.

          "Securities Act" means the Securities Act of 1933, and the rules and
regulations of the Commission thereunder, all as the same shall be in effect
from time to time.

          "Selling Holder" shall have the meaning assigned to such term in
Section 9(b).

          "Selling Holders' Counsel" shall have the meaning assigned to such
term in Section 9(b).

          "Subscription Agreement" means the Subscription and Exchange Agreement
dated as of the date hereof between the Company and the Investor, as the same
may be amended or modified.

          "Statement of Designations" means the Statement of Designations
setting forth the preferences, limitations and relative rights of the
Convertible Preferred Stock.

          "Subsidiary" has the meaning assigned to such term in the Statement of
Designations.

          "Trigger Event" shall have the meaning assigned to such term in
Section 3(h).

          "Voting Stock" of a Person means any class or all classes of capital
stock or other interests (including partnership interests) of such Person then
outstanding and normally entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers or trustees thereof.

SECTION 2.  RIGHTS TO SUBSCRIBE FOR SECURITIES.

        (a) For so long as Investor and its Affiliates hold in the aggregate
Common Stock Equivalents representing at least 25% of the Conversion Shares
issuable upon conversion of the Convertible Preferred Stock acquired by the
Investor on the Closing Date, the Company shall not, prior to the Maturity Date
(assuming full payment and performance by the Company of all of its obligations
as of such date; if the Company has not fully paid and performed all of its
obligations as of such date, the Company's obligations under this section shall
survive until such obligations have been satisfied), issue, sell, or agree to
issue or sell, any Offered Securities for cash unless the Company shall have
first offered to sell the Offered Securities to the Investor, at a price and on
such other terms as shall have been specified by the Company in writing
delivered

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to the Investor (the "Offer"), which Offer by its terms shall remain open for a
period of 10 business days from the date it is delivered to the Investor (the
"Offer Period").

        (b) Notice of the Investor's intention to accept an Offer shall be
evidenced by a writing signed by the Investor and delivered to the Company prior
to the end of the Offer Period (the "Notice of Acceptance"). Within 20 days
after receipt by the Company of such Notice of Acceptance, the Company shall
sell and the Investor shall purchase the Offered Securities in respect of which
the Notice of Acceptance was delivered, upon the terms and conditions of the
Offer.

        (c) In the event the Company materially amends the terms of the Offer at
any time, the Offer Period shall be extended for a period of not less than 10
business days (or 48 hours if the amendment relates solely to the price of the
Offer or the number of shares to be sold in the Offer).

        (d) In the event that the Notice of Acceptance is not given by the
Investor, the Company shall have 90 days from the expiration of the Offer Period
to sell all of such Offered Securities (the "Refused Securities") to any other
Person(s), but only upon financial terms (e.g., price, interest rate, dividend
rate) at least as favorable to the Company in every respect as those set forth
in the Offer, and otherwise on general terms and conditions that are no more
favorable, in the aggregate, to such other Person(s) or less favorable, in the
aggregate, to the Company than those set forth in the Offer, provided, however,
that in the event that the Company sells all such Offered Securities to any
other Person(s), the Investor shall have the right to purchase the proportionate
number of such Offered Securities that represents its then ownership percentage
of the total outstanding Common Stock of the Company, determined in accordance
with Rule 13d-3 under the Exchange Act.

        (e) Any Offered Securities not purchased by the Investor or any other
Person(s) in accordance with Sections 2(b) and 2(d) may not be sold or otherwise
disposed of until they are again offered to the Investor under the procedures
specified in this Section 2.

        (f) The provisions of this Section 2 shall terminate on the first date
on which the Investor and its Affiliates fail to satisfy the Common Stock
Equivalents ownership requirements set forth in paragraph (a), such termination
to be effective with respect to the first Offer after such date.

SECTION 3.  BOARD OF DIRECTORS.

        (a) Investor shall be entitled to designate individuals for election to
the Board as follows until the Maturity Date (assuming full payment and
performance by the Company of all of its obligations as of such date; if the
Company has not fully paid and performed all of its obligations as of such date,
the Company's obligations under this section shall survive until such
obligations have been satisfied):

(i)  For so long as Investor and its Affiliates hold in the aggregate Common
     Stock Equivalents representing at least 50% of the number of Conversion
     Shares issuable upon conversion of the Convertible Preferred Stock issued
     on the Closing Date, the

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      Investor shall be entitled to designate a number of individuals for
      election to the Board equal to the greater of 3 directors or the number of
      directors that represents 30% of the Board, rounded up to the nearest
      whole director;

(ii)  For so long as Investor and its Affiliates hold in the aggregate Common
      Stock Equivalents representing at least 25% of the number of Conversion
      Shares issuable upon conversion of the Convertible Preferred Stock issued
      on the Closing Date, the Investor shall be entitled to designate a number
      of individuals for election to the Board equal to the number of directors
      that represents 22% of the Board, rounded up to the nearest whole
      director; and

(iii) For so long as Investor and its Affiliates hold in the aggregate Common
      Stock Equivalents representing at least 12.5% of the number of Conversion
      Shares issuable upon conversion of the Convertible Preferred Stock issued
      on the Closing Date, the Investor shall be entitled to designate a number
      of individuals for election to the Board equal to the number of directors
      that represents 15% of the Board, rounded up to the nearest whole
      director.

        (b) In the event the number of directors the Investor is entitled to
designate decreases in accordance with paragraph (a) above, then the number of
directors the Investor is entitled to designate pursuant to paragraph (a) shall
not thereafter be increased, irrespective of any subsequent acquisition of
Common Stock Equivalents by the Investor or its Affiliates. In determining the
number of directors the Investor shall be entitled to designate pursuant to
paragraph (a) above, the Investor shall be deemed to hold each Common Stock
Equivalent that is held of record by the Investor or any of its Affiliates, or,
as to which the Investor or any of its Affiliates retains the entire economic
interest.

        (c) Except as set forth in (c)(i) and (c)(ii) below, each committee of
the Board shall include directors designated by the Investor pursuant to the
provisions set forth above, (each, a "Preferred Director"), in the same
proportion, rounded up to the nearest whole director, as such representatives
comprise the Board. The Company shall provide each Preferred Director serving on
any committee of the Board with appropriate notice at least 48 hours prior to
any meeting of any committee that such person serves on:

(i)  The Executive Committee shall be comprised of five members as follows:  two
     Preferred Directors designated by the Investor (or, if the Investor is only
     entitled to designate one director to the Board, then only one Preferred
     Director), the Chairman of the Board of Directors, the Chief Executive
     Officer of the Company and one independent director to be selected by the
     Board of Directors.  The Preferred Directors designated by the Investor
     pursuant to this Section 3(c)(i) shall not be removed by subsequent action
     of the Board; and

(ii) The Acquisitions Committee shall be comprised of  one Preferred Director
     designated by the Investor, the Chairman of the Board of Directors and the
     Chief Executive Officer.  The Preferred Director designated by the Investor
     pursuant to this Section 3(c)(ii) shall not be removed by subsequent action
     of the Board.

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        (d) If the persons designated by the Investor as set forth in Section
3(a) above are not elected to the Board for any reason and the Investor owns at
least 25% of the shares of Common Stock that it owns on the Closing Date
(assuming the conversion of all the Convertible Preferred Stock), then the
Investor shall have the right to designate one representative to serve as an
observer at each meeting of the Board and each committee thereof. The Company
shall provide such observer with copies of all actions taken by written consent
of the Board or any committee thereof, advance notice of such meeting as if such
observer were a director and copies of all materials that are distributed to the
Board (in each case as if such observer was a director), provided, however, all
such information and materials shall be subject to a mutually agreeable
confidentiality agreement. The Company shall reimburse the observer for all out-
of-pocket expenses incurred in connection with attending any meetings of the
Board.

        (e) For so long as the Investor owns 5% or more of the Common Stock of
the Company outstanding (assuming the conversion of all the Convertible
Preferred Stock), then the Investor shall be entitled to designate one member to
the Board; provided, however, that the right provided in this Section 3(e) shall
not be in addition to the rights provided in Section 3(a) above.

        (f) The Company shall cause its bylaws to provide, at all times from and
after the Closing Date in which the Investor has the right to designate a
director, that meetings of the Board or any committee thereof may be conducted
by teleconference.

        (g) The Company shall deliver a notice to the Investors if an Event of
Non-Compliance shall occur or is reasonably likely to occur. Such notice shall
set forth in reasonable detail a description of the Event of Non-Compliance.

        (h) Prior to the earlier of the Maturity Date (assuming full payment and
performance by the Company of all of its obligations as of such date; it being
understood that if the Company has not fully paid and performed all of its
obligations as of such date, the Company's obligations under this Section 3
shall survive until such obligations have been satisfied) and the date on which
Sections 15(a) and 15(b) hereof have ceased to have any effect, if the Investor
concludes, either as a result of a notice delivered by the Company pursuant to
Section 3(g), or otherwise, that an Event of Non-Compliance has occurred or is
reasonably likely to occur, the Investor shall deliver a notice to the Company
to such effect. If an Event of Non-Compliance shall occur and shall be
continuing at the end of the one week period following delivery by the Investor
of the notice referred to in the preceding sentence (each, a "Trigger Event"),
the Investor shall have the special right to designate that number of
individuals to the Board that, when combined with the Preferred Directors, will
constitute a majority of the Board. The Company agrees to take all necessary and
desirable action within its control in connection with and in furtherance of the
execution of such special right. Such special right shall continue until such
time as there is no longer a Trigger Event in existence, at which time such
special right shall terminate, subject to revesting upon the subsequent
occurrence and continuation of any Trigger Event. After designees of the
Investor represent a majority of the Board, the directors of the Company shall
use commercially reasonable efforts promptly to cure the condition that
constituted the Event of Non-Compliance. After the expiration of such Trigger
Event, the term of office of such newly elected directors shall automatically
cease and the number of directors constituting the entire Board shall be reduced
accordingly.

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        (i) Whenever the Investor shall have the right to designate one or more
directors of the Board pursuant to this Section 3, the Company shall, to the
extent permitted by applicable law (a) increase as required the number of
directors constituting the entire Board, (b) fill the vacancies created by such
expansion with designees who are approved by the Company, which approval will
not be unreasonably withheld and (c) submit the name of each such designee to
the shareholders of the Company (together with a recommendation of his or her
election) at each meeting of the shareholders at which directors are elected and
which is held during the period which the Investor is entitled to designate one
or more directors. The Company shall take such actions as shall be within its
control and reasonably necessary to effectuate the provisions of this Section 3,
including, if required, the calling of a special or annual meeting of the
shareholders of the Company to fill vacancies created by any increase in the
size of the entire Board.

        (j) Notwithstanding any provision of this Agreement to the contrary, the
rights of the Investor to designate Board members pursuant to this Section 3
shall in no event be operative at any time when the holders of the Convertible
Preferred Stock shall have rights to elect directors pursuant to the Statement
of Designations.

SECTION 4.  INFORMATION RIGHTS; COVENANTS.

        (a)  Access to Records.

        The Company shall, and shall cause each Subsidiary to, afford to the
Investor, the Affiliates of the Investor and each of their respective officers,
employees, advisors, counsel and other authorized representatives (collectively
with the Affiliates of the Investor, the "Representatives"), during normal
business hours, at their expense, reasonable access, upon reasonable advance
notice, to all of the books, records and properties of the Company and such
Subsidiary and all officers and employees of the Company and such Subsidiary.
The Investor shall use its best efforts to maintain the confidentiality of any
information designated by the Company as confidential or proprietary; provided,
however, that the foregoing shall in no way limit or otherwise restrict the
ability of the Investor or any of its Representatives to disclose any such
information concerning the Company and each Subsidiary which it may be required
to disclose (i) to its partners or limited partners to the extent required to
satisfy its fiduciary obligations to such Persons, provided such Persons agree
in writing to be bound by the provisions of this Section, or (ii) otherwise
pursuant to or as required by law.

        (b)  Financial Reports.

        The Company shall furnish the Investor with the following:

(i)  Monthly Reports.  As soon as available, but not later than 30 days after
     the end of each fiscal month, a consolidated balance sheet of the Company
     as of the end of such period and consolidated statements of income of the
     Company for such period and for the period commencing at the end of the
     previous fiscal year and ending with the end of such period, setting forth
     in each case in comparative form the corresponding figures for the
     corresponding period of the preceding fiscal year, and including
     comparisons for income statements to the budget or business plan all
     prepared in

                                      -11-
<PAGE>

      accordance with generally accepted accounting principles consistently
      applied (except for the absence of footnotes and year-end adjustments);

(ii)  Quarterly Reports.  As soon as available, but not later than 50 days after
      the end of each quarterly accounting period, (A) a consolidated balance
      sheet of the Company as of the end of such period and consolidated
      statements of income and cash flows for such quarterly accounting period
      and/or for the period commencing at the end of the previous fiscal year
      and ending with the end of such period, setting forth in each case in
      comparative form the corresponding figures for the corresponding period of
      the preceding fiscal year, and including comparisons to the budget or
      business plan for the income statement only, all prepared in accordance
      with GAAP consistently applied and (B) a report by management of the
      Company in a format consistent with Form 10-Q of the operating and
      financial highlights of the Company and its Subsidiaries for such period;

(iii) Annual Audit. As soon as available, but not later than 100 days after the
      end of each fiscal year of the Company, audited consolidated financial
      statements of the Company, which shall include statements of income, cash
      flows and changes in shareholders' equity for such fiscal year and a
      balance sheet as of the last day thereof, each prepared in accordance with
      generally accepted accounting principles, consistently applied, and
      accompanied by the report of a "Big 5" firm of independent certified
      public accountants selected by the Board (the "Accountants"). The Company
      and its Subsidiaries shall maintain a system of accounting sufficient to
      enable its Accountants to render the report referred to in this Section 4;
      and

(iv)  Miscellaneous. Promptly upon becoming available, the Company shall provide
      to the Investor:

        (A)  copies of all financial statements, reports, press releases,
             notices, proxy statements and other documents sent by the Company
             or its Subsidiaries to its investors generally or released to the
             public and copies of all regular and periodic reports, if any,
             filed by the Company or its Subsidiaries with the Securities and
             Exchange Commission, any securities exchange or the NYSE;

        (B)  notification in writing of any litigation or governmental
             proceeding in which it or any of its Subsidiaries is involved and
             which could reasonably be expected to, materially and adversely
             affect the Company or any of its material Subsidiaries;

        (C)  notification in writing of the existence of any default under any
             material agreement or instrument to which the Company or any of its
             Subsidiaries is a party or by which any of their assets are bound;

        (D)  upon request, copies of all reports prepared for or delivered to
             the management of the Company or its Subsidiaries by its
             accountants;

                                      -12-
<PAGE>

        (E)  upon request, any other routinely collected financial or other
             information available to management of the Company or its
             subsidiaries (including, without limitation, routinely collected
             statistical data); and

        (F)  The provisions of this Section 4 shall terminate upon the earlier
             to occur of the twelfth anniversary of the Closing Date and the
             date on which the Investor shall no longer be entitled to elect any
             directors pursuant to Section 3(a) of this Agreement.

SECTION 5.  DEMAND REGISTRATION.

        (a) If the Company shall be requested by holders of at least 20% of the
total number of outstanding Restricted Shares (assuming conversion of all shares
of Convertible Preferred Stock) to effect a registration under the Securities
Act of all or a portion of Restricted Shares with an aggregate Fair Market Value
as of the date of such request equal to at least $25,000,000, or, if the
Restricted Shares have an aggregate Fair Market Value of less than $25,000,000,
all of the remaining Restricted Shares, in accordance with this Section, then
the Company shall promptly give written notice of such proposed registration to
all holders of Restricted Shares and shall offer to include in such proposed
registration any Restricted Shares requested to be included in such proposed
registration by such holders who respond in writing to the Company's notice
within 15 days after delivery of such notice (which response shall specify the
number of Restricted Shares proposed to be included in such registration and the
intended method of distribution, which may be pursuant to a shelf registration).
If a registration pursuant to Section 7 hereof is available, the holders of
Restricted Shares shall utilize such registration instead of making a request
pursuant to this Section 5, unless the holders of Restricted Shares reasonably
determine that it is advantageous to such holders of Restricted Shares to make a
request under this Section 5. The Company shall promptly use its best efforts to
effect such registration on an appropriate form under the Securities Act of the
Restricted Shares which the Company has been so requested to register; provided,
however, that the Company shall not be obligated to effect any registration
under the Securities Act except in accordance with the following provisions:

(i)  the Company shall not be obligated to file more than four registration
     statements in total pursuant to this Section, subject to paragraph (c)
     below;

(ii) the Company shall not be obligated to file any registration statement
     during any period in which (A) any other registration statement (other than
     on Form S-4 or Form S-8 promulgated under the Securities Act or any
     successor forms thereto) pursuant to which Primary Shares are to be or were
     sold has been filed and not withdrawn or has been declared effective within
     the prior 90 days or (B) the Company has determined in good faith that the
     filing of a registration statement would require the disclosure of material
     information that the Company has a bona fide business purpose for
     preserving as confidential, such filing to be delayed until the date which
     is 90 days after such request for registration pursuant to this Section
     5(a); provided that the Company may only so delay the filing or
     effectiveness of a registration statement pursuant to this Section
     5(a)(ii)(B) on one occasion during any twelve-month period; and

                                      -13-
<PAGE>

(iii) with respect to the registration pursuant to this Section, the Company may
      include in such registration any Primary Shares or Other Shares; provided,
      however, that if the managing underwriter advises the Company in writing
      that the inclusion of all Restricted Shares, Primary Shares and Other
      Shares proposed to be included in such registration would interfere with
      the successful marketing (including pricing) of all such securities, then
      the number of Restricted Shares, Primary Shares and Other Shares proposed
      to be included in such registration shall be included in the following
      order:

        (A)  First, the Restricted Shares, pro rata based upon the number of
             Restricted Shares owned by each holder at the time of such
             registration;

        (B)  Second, the Primary Shares; and

        (C)  Third, the Other Shares.

        (b) The holders of Restricted Shares requesting a registration pursuant
to this Section may, in the notice delivered pursuant to paragraph (a) above,
elect that such registration cover an underwritten offering. Upon such election,
such holders shall select one or more nationally recognized firms of investment
banks to act as the managing underwriters and shall select any additional
investment banks to be used in connection with such offering, provided that such
investment banks must be reasonably satisfactory to the Company. The Company
shall, together with all holders proposing to sell Restricted Shares in such
offering, enter into a customary underwriting agreement with such underwriters.

        (c) A requested registration under this Section may be rescinded by
written notice to the Company by the Persons holding a majority of the
Restricted Shares to be included in such registration with the following
consequences:

(i)   If such registration statement is rescinded prior to the filing date, such
      rescinded registration shall not count as a registration statement
      initiated pursuant to this Section for purposes of paragraph (a) above;

(ii)  If such registration statement is rescinded after the filing date but
      prior to its effective date, such rescinded registration shall not count
      as a registration statement initiated pursuant to this Section for
      purposes of paragraph (a) above if the participating holders (x) have
      reimbursed the Company for all out-of-pocket expenses incurred by the
      Company in connection with such rescinded registration or (y) (1)
      reasonably believed that the registration statement contained an untrue
      statement of material fact or omitted to state a material fact required to
      be stated therein or necessary to make the statements made therein not
      misleading, (2) notified the Company of such fact and requested that the
      Company correct such alleged misstatement or omission and (3) the Company
      has refused to correct such alleged misstatement or omission; and

(iii) A registration that becomes effective shall not count as a registration
      statement initiated pursuant to this Section for purposes of paragraph (a)
      above unless the participating holders are able to sell at least 80% of
      the Restricted Shares sought to be included in such registration
      statement.

                                      -14-
<PAGE>

SECTION 6.  PIGGYBACK REGISTRATION.

          If at any time the Company proposes for any reason to register Primary
Shares or Other Shares under the Securities Act (other than on Form S-4 or Form
S-8 promulgated under the Securities Act or any successor forms thereto, it
shall promptly give written notice to the holders of Restricted Shares of its
intention to so register the Primary Shares or Other Shares and, upon the
written request, given within 15 days after delivery of any such notice by the
Company, of any holders of Restricted Shares to include in such registration
Restricted Shares held by such holders (which request shall specify the number
of Restricted Shares proposed to be included in such registration), the Company
shall use its best efforts to cause all such Restricted Shares to be included in
such registration on the same terms and conditions as the securities otherwise
being sold in such registration; provided, however, that if the managing
underwriter advises the Company that the inclusion of all Restricted Shares or
Other Shares proposed to be included in such registration would interfere with
the successful marketing (including pricing) of the Primary Shares proposed to
be registered by the Company, then the number of Primary Shares, Restricted
Shares and Other Shares proposed to be included in such registration shall be
included in the following order:

        (a)  first, the Primary Shares;

        (b) second, Other Shares entitled to registration pursuant to the
Registration Rights Agreements set forth on Annex A;

        (c) third, Restricted Shares, pro rata based upon the number of
Restricted Shares owned by each holder at the time of such registration; and

        (d) fourth, the Other Shares (other than those shares of Common Stock
which are not subject to any registration rights agreement), pro rata based upon
the number of shares of Common Stock (based upon Common Stock Equivalents) owned
by each such seller at the time of such registration.

SECTION 7.  S-3 REGISTRATIONS.

          If at any time (i) the Persons holding at least 20% of the total
number of outstanding Restricted Shares (assuming conversion of all shares of
Convertible Preferred Stock) request that the Company file a registration
statement on Form S-3 or any successor thereto for a public offering of all or a
portion of Restricted Shares with an aggregate Fair Market Value as of the date
of such request equal to at least $25,000,000, or, if the aggregate Restricted
Shares have an aggregate Fair Market Value of less than $25,000,000, all of the
remaining Restricted Shares and (ii) the Company is a registrant entitled to use
Form S-3 or any successor thereto to register such shares, then the Company
shall use its best efforts to register under the Securities Act on Form S-3 or
any successor thereto, for public sale in accordance with the method of
disposition specified in such notice, the number of shares of Restricted Shares
specified in such notice.  Whenever the Company is required by this Section 7 to
use its best efforts to effect the registration of Restricted Shares, each of
the procedures and requirements of Section 5 (including but not limited to the
requirement that the Company notify all holders of Restricted Shares from whom
notice has not been received and provide them with the opportunity to
participate in the

                                      -15-
<PAGE>

offering) shall apply to such registration. Notwithstanding anything to the
contrary contained herein, no request may be made under this Section 7 within
three months after the effective date of a registration statement filed by the
Company covering a firm commitment underwritten public offering in which the
holders of Restricted Shares shall have been entitled to join pursuant to
Section 5 or 6 in which there shall have been effectively registered all
Restricted Shares as to which registration shall have been requested. There is
no limitation on the number of registrations pursuant to this Section 7 that the
Company is obligated to effect.

SECTION 8.  EXPENSES.

          The Company shall bear the expense of any registrations effected
pursuant to Sections 5, 6 and 7 including, without limitation, all registration
and filing fees (including all expenses incident to filing with the NYSE), fees
and expenses of complying with securities and blue sky laws, printing expenses,
and fees and expenses of the Company's counsel and accountants, and the fees and
expenses of the Selling Holders' Counsel (as defined below), but excluding any
underwriters' or brokers' discounts or commissions, transfer taxes (to the
extent that such taxes are required by law to be paid by the Selling Holders)
and the fees of any counsel to any Selling Holder, other than the Selling
Holders' Counsel (it being understood that the fees and expenses of any
underwriter and such underwriter's counsel shall be the responsibility of such
underwriter).

SECTION 9.  PREPARATION AND FILING.

          If and whenever the Company is under an obligation pursuant to the
provisions of this Agreement to use its best efforts to effect the registration
of any Restricted Shares, the Company shall, as expeditiously as practicable:

(a)  with respect to a registration under Sections 5, 6 and 7, use its best
     efforts to cause a registration statement that registers such Restricted
     Shares to become and remain effective for a period of 180 days or until all
     of such Restricted Shares have been disposed of (if earlier);

(b)  furnish, at least five business days before filing a registration statement
     that registers such Restricted Shares, a prospectus relating thereto or any
     amendments or supplements relating to such a registration statement or
     prospectus, to each holder of Restricted Shares, to any counsel to any
     seller of Restricted Shares (the "Selling Holder") and to one counsel
     selected by the holders of a majority of such Restricted Shares (the
     "Selling Holders' Counsel"), copies of all such documents proposed to be
     filed (it being understood that such five-business-day period need not
     apply to successive drafts of the same document proposed to be filed so
     long as such successive drafts are supplied to such counsel in advance of
     the proposed filing by a period of time that is customary and reasonable
     under the circumstances);

(c)  prepare and file with the Commission such amendments and supplements to
     such registration statement and the prospectus used in connection therewith
     as may be necessary to keep such registration statement effective for at
     least the periods set forth in Section 9(a) or until all of such Restricted
     Shares have been disposed of (if earlier) and to comply with the

                                      -16-
<PAGE>

     provisions of the Securities Act with respect to the sale or other
     disposition of such Restricted Shares;

(d)  notify in writing any counsel to any Selling Holder and the Selling
     Holders' Counsel promptly (i) of the receipt by the Company of any
     notification with respect to any comments by the Commission with respect to
     such registration statement or prospectus or any amendment or supplement
     thereto or any request by the Commission for the amending or supplementing
     thereof or for additional information with respect thereto, (ii) of the
     receipt by the Company of any notification with respect to the issuance by
     the Commission of any stop order suspending the effectiveness of such
     registration statement or prospectus or any amendment or supplement thereto
     or the initiation or threatening of any proceeding for that purpose and
     (iii) of the receipt by the Company of any notification with respect to the
     suspension of the qualification of such Restricted Shares for sale in any
     jurisdiction or the initiation or threatening of any proceeding for such
     purposes;

(e)  use its best efforts to register or qualify such Restricted Shares under
     such other securities or blue sky laws of such jurisdictions as any seller
     of Restricted Shares reasonably requests and do any and all other acts and
     things which may be reasonably necessary or advisable to enable such seller
     of Restricted Shares to consummate the disposition in such jurisdictions of
     the Restricted Shares owned by such seller; provided, however, that the
     Company will not be required to qualify generally to do business, subject
     itself to general taxation or consent to general service of process in any
     jurisdiction where it would not otherwise be required so to do but for this
     paragraph (e);

(f)  furnish to each seller of such Restricted Shares such number of copies of a
     summary prospectus or other prospectus, including a preliminary prospectus,
     in conformity with the requirements of the Securities Act, and such other
     documents as such seller of Restricted Shares may reasonably request in
     order to facilitate the public sale or other disposition of such Restricted
     Shares;

(g)  use its best efforts to cause such Restricted Shares to be registered with
     or approved by such other governmental agencies or authorities as may be
     necessary by virtue of the business and operations of the Company to enable
     the seller or sellers thereof to consummate the disposition of such
     Restricted Shares;

(h)  notify on a timely basis each seller of such Restricted Shares at any time
     when a prospectus relating to such Restricted Shares is required to be
     delivered under the Securities Act within the appropriate period mentioned
     in paragraph (a) of this Section, of the happening of any event as a result
     of which the prospectus included in such registration statement, as then in
     effect, includes an untrue statement of a material fact or omits to state a
     material fact required to be stated therein or necessary to make the
     statements therein not misleading in light of the circumstances then
     existing and, at the request of such seller, prepare and furnish to such
     seller a reasonable number of copies of a supplement to or an amendment of
     such prospectus as may be necessary so that, as thereafter delivered to the
     offerees of such shares, such prospectus shall not include an untrue
     statement of a material fact or omit to state a material fact required to
     be stated therein or necessary to make the statements therein not
     misleading in light of the circumstances then existing;

                                      -17-
<PAGE>

(i)  make available for inspection by any counsel to any Selling Holder and the
     Selling Holders' Counsel or any underwriter participating in any
     disposition pursuant to such registration statement and any attorney,
     accountant or other agent retained by any such underwriter (collectively,
     the "Inspectors"), all pertinent financial and other records, pertinent
     corporate documents and properties of the Company (collectively, the
     "Records"), as shall be reasonably necessary to enable them to exercise
     their due diligence responsibility, and cause the Company's officers,
     directors and employees to supply all information (together with the
     Records, the "Information") reasonably requested by any such Inspector in
     connection with such registration statement.  Any of the Information which
     the Company determines in good faith to be confidential, and of which
     determination the Inspectors are so notified, shall not be disclosed by the
     Inspectors unless (i) the disclosure of such Information is necessary to
     avoid or correct a misstatement or omission in the registration statement,
     (ii) the release of such Information is ordered pursuant to a subpoena or
     other order from a court of competent jurisdiction or (iii) such
     Information has been made generally available to the public.  The seller of
     Restricted Shares agrees that it will, upon learning that disclosure of
     such Information is sought in a court of competent jurisdiction, give
     notice to the Company and allow the Company, at the Company's expense, to
     undertake appropriate action to prevent disclosure of the Information
     deemed confidential;

(j)  in the case of an underwritten offering, use its best efforts to obtain
     from its independent certified public accountants "comfort" letters in
     customary form and at customary times and covering matters of the type
     customarily covered by comfort letters;

(k)  in the case of an underwritten offering, use its best efforts to obtain
     from its counsel an opinion or opinions in customary form;

(l)  provide a transfer agent and registrar (which may be the same entity and
     which may not be the Company) for such Restricted Shares;

(m)  issue to any underwriter to which any seller of Restricted Shares may sell
     shares in such offering certificates evidencing such Restricted Shares;
     provided, however, that the Company shall have the right to approve any
     such underwriter with such approval not to be unreasonably withheld;

(n)  list such Restricted Shares on any national securities exchange on which
     any shares of the Common Stock are listed or on NASDAQ if then included, or
     if the Common Stock is not listed on a national securities exchange, use
     its best efforts to qualify such Restricted Shares for inclusion on such
     national securities exchange or NASDAQ as the holders of a majority of such
     Restricted Shares shall request;

(o)  otherwise use its best efforts to comply with all applicable rules and
     regulations of the Commission and make available to its securityholders, as
     soon as reasonably practicable, earnings statements (which need not be
     audited) covering a period of 12 months beginning within three months after
     the effective date of the registration statement, which earnings statements
     shall satisfy the provisions of Section 11(a) of the Securities Act; and

                                      -18-
<PAGE>

(p)  use its best efforts to take all other steps necessary to effect the
     registration of such Restricted Shares contemplated hereby.

SECTION 10.  INDEMNIFICATION.

(a)  In connection with any registration of any Restricted Shares under the
     Securities Act pursuant to this Agreement, the Company shall indemnify and
     hold harmless the seller of such Restricted Shares, its officers and
     directors, each underwriter, broker or any other person acting on behalf of
     such seller and each other person, if any, who controls any of the
     foregoing persons within the meaning of the Securities Act against any
     losses, claims, damages or liabilities, joint or several, (or actions in
     respect thereof) to which any of the foregoing persons may become subject
     under the Securities Act or otherwise, insofar as such losses, claims,
     damages or liabilities (or actions in respect thereof) arise out of or are
     based upon an untrue statement or alleged untrue statement of a material
     fact contained in the registration statement under which such Restricted
     Shares were registered under the Securities Act, any preliminary prospectus
     or final prospectus contained therein or otherwise filed with the
     Commission, any amendment or supplement thereto or any document incident to
     registration or qualification of any Restricted Shares, or arise out of or
     are based upon the omission or alleged omission to state therein a material
     fact required to be stated therein or necessary to make the statements
     therein not misleading, and shall reimburse such seller, such officer or
     director, such underwriter, such broker or such other person acting on
     behalf of such seller and each such controlling person for any legal or
     other expenses reasonably incurred by any of them in connection with
     investigating or defending any such loss, claim, damage, liability or
     action; provided, however, that the Company shall not be liable in any such
     case to the extent that any such loss, claim, damage, liability or action
     arises out of or is based upon an untrue statement or alleged untrue
     statement or omission or alleged omission made in said registration
     statement, preliminary prospectus, final prospectus, amendment, supplement
     or document incident to registration or qualification of any Restricted
     Shares in reliance upon and in conformity with written information
     furnished to the Company through an instrument duly executed by such seller
     or underwriter specifically for use in the preparation thereof; provided,
     further, that with respect to any preliminary prospectus, the foregoing
     indemnity shall not inure to the benefit of (a) any underwriter or, in the
     case of a registration statement filed with respect to an offering which is
     not an underwritten offering, any Selling Holder, from whom the person
     asserting any losses, claims, damages and liabilities and judgments
     purchased Restricted Shares or (b) any person controlling such underwriter
     or Selling Holder, if (i) a copy of the prospectus (as then amended or
     supplemented if the Company shall have furnished any amendments or
     supplements thereto) was required by law to have been delivered by such
     underwriter or Selling Holder (as applicable), (ii) the prospectus had not
     been sent or given by or on behalf of such underwriter or Selling Holder
     (as applicable) to such person with or prior to a written confirmation of
     the sale of the Restricted Shares to such person, (iii) the prospectus (as
     so amended and supplemented) would have cured the defect giving rise to
     such loss, claim, damage, liability or judgment and (iv) such failure to
     deliver the prospectus (as so amended and supplemented) was not the result
     of noncompliance by the Company with Section 9(f) hereof.

(b)  In connection with any registration of Restricted Shares under the
     Securities Act pursuant to this Agreement, each seller of Restricted Shares
     shall indemnify and hold harmless (in the same manner and to the same
     extent as set forth in the preceding paragraph of

                                      -19-
<PAGE>

     this Section) the Company, each director of the Company, each officer of
     the Company, each underwriter, broker or other person acting on behalf of
     such seller, each person who controls any of the foregoing persons within
     the meaning of the Securities Act and each other seller of Restricted
     Shares under such registration statement with respect to any statement or
     omission from such registration statement, any preliminary prospectus or
     final prospectus contained therein or otherwise filed with the Commission,
     any amendment or supplement thereto or any document incident to
     registration or qualification of any Restricted Shares, if such statement
     or omission was made in reliance upon and in conformity with written
     information furnished to the Company or such underwriter through an
     instrument duly executed by such seller specifically for use in connection
     with the preparation of such registration statement, preliminary
     prospectus, final prospectus, amendment, supplement or document; provided,
     however, that the obligation to indemnify will be several, not joint and
     several, among such sellers of Restricted Shares, and the maximum amount of
     liability in respect of such indemnification shall be in proportion to and
     limited to, in the case of each seller of Restricted Shares, an amount
     equal to the net proceeds actually received by such seller from the sale of
     Restricted Shares effected pursuant to such registration.

(c)  The indemnification required by this Section 10 will be made by periodic
     payments during the course of the investigation or defense, as and when
     bills are received or expenses incurred, subject to prompt refund in the
     event any such payments are determined not to have been due and owing
     hereunder.

(d)  Promptly after receipt by an indemnified party of notice of the
     commencement of any action involving a claim referred to in the preceding
     paragraphs of this Section, such indemnified party will, if a claim in
     respect thereof is made against an indemnifying party, give written notice
     to the latter of the commencement of such action (it being understood that
     no delay in delivering or failure to deliver such notice shall relieve the
     indemnifying persons from any liability or obligation hereunder unless (and
     then solely to the extent that) the indemnifying person is prejudiced by
     such delay and/or failure).  In case any such action is brought against an
     indemnified party, the indemnifying party will be entitled to participate
     in and to assume the defense thereof, jointly with any other indemnifying
     party similarly notified to the extent that it may wish, with counsel
     reasonably satisfactory to such indemnified party, and after notice from
     the indemnifying party to such indemnified party of its election so to
     assume the defense thereof, the indemnifying party shall not be responsible
     for any legal or other expenses subsequently incurred by the latter in
     connection with the defense thereof; provided, however, that if any
     indemnified party shall have reasonably concluded that there may be one or
     more legal or equitable defenses available to such indemnified party which
     are additional to or conflict with those available to the indemnifying
     party, or that such claim or litigation involves or could have an effect
     upon matters beyond the scope of the indemnity agreement provided in this
     Section, the indemnifying party shall not have the right to assume the
     defense of such action on behalf of such indemnified party and such
     indemnifying party shall reimburse such indemnified party and any person
     controlling such indemnified party for that portion of the fees and
     expenses of any counsel retained by the indemnified party which is
     reasonably related to the matters covered by the indemnity agreement
     provided in this Section.

(e)  The indemnification provided for under this Agreement will remain in full
     force and effect regardless of any investigation made by or on behalf of
     the indemnified party or

                                      -20-
<PAGE>

     any officer, director or controlling person of such indemnified party and
     will survive the transfer of securities.

(f)  If the indemnification provided for in this Section 10 is held by a court
     of competent jurisdiction to be unavailable to an indemnified party with
     respect to any loss, claim, damage, liability or action referred to herein,
     then the indemnifying party, in lieu of indemnifying such indemnified party
     hereunder, shall contribute to the amounts paid or payable by such
     indemnified party as a result of such loss, claim, damage, liability or
     action in such proportion as is appropriate to reflect the relative fault
     of the indemnifying party on the one hand and of the indemnified party on
     the other in connection with the statements or omissions which resulted in
     such loss, claim, damage or liability as well as any other relevant
     equitable considerations.  The relative fault of the indemnifying party and
     of the indemnified party shall be determined by reference to, among other
     things, whether the untrue or alleged untrue statement of a material fact
     or the omission or alleged omission to state a material fact relates to
     information supplied by the indemnifying party or by the indemnified party
     and the parties' relative intent, knowledge, access to information and
     opportunity to correct or prevent such statement or omission.  The Company
     and the sellers of Restricted Shares agree that it would not be just and
     equitable if contributions pursuant to this paragraph were determined by
     pro rata allocation or by any other method of allocation which did not take
     into account the equitable considerations referred to herein.  The amount
     paid or payable to an indemnified party as a result of the losses, claims,
     damages, liabilities or expenses referred to above shall be deemed to
     include, subject to the limitation set forth in the fourth paragraph of
     this Section 10, any legal or other expenses reasonably incurred in
     connection with investigating or defending the same.  Notwithstanding the
     foregoing, in no event shall the amount contributed by a seller of
     Restricted Shares exceed the aggregate net offering proceeds received by
     such seller from the sale of its Restricted Shares.

SECTION 11.  UNDERWRITING AGREEMENT.

          Notwithstanding the provisions of Sections 9 and 10, to the extent
that the Company and the holders selling Restricted Shares in a proposed
registration shall enter into an underwriting or similar agreement, which
agreement contains provisions covering one or more issues addressed in such
Sections, the provisions contained in such Sections addressing such issue or
issues shall be superseded with respect to such registration by such other
agreement.

SECTION 12.  INFORMATION BY HOLDERS.

          The holders selling Restricted Shares in a proposed registration shall
furnish to the Company such written information regarding such holder and the
distribution proposed by such holder as the Company may reasonably request in
writing and as shall be reasonably required in connection with any registration,
qualification or compliance referred to in this Agreement.

SECTION 13.  EXCHANGE ACT COMPLIANCE.

          The Company shall comply with all of the reporting requirements of the
Exchange Act and with all other public information reporting requirements of the
Commission

                                      -21-
<PAGE>

which are conditions to the availability of Rule 144 for the sale of the Common
Stock. The Company shall cooperate with the Investor in supplying such
information as may be necessary for such Investor to complete and file any
information reporting forms presently or hereafter required by the Commission as
a condition to the availability of Rule 144.

SECTION 14.  NO CONFLICT OF RIGHTS.

          The Company represents and warrants to the Investors that the
registration rights granted to the Investors hereby do not conflict with any
other registration rights granted by the Company.  The Company shall not, after
the date hereof, grant any registration rights which conflict with the
registration rights granted hereby; provided, however, that such prohibition
shall not apply to the assumption by the Company of any registration right
obligations of Building One Services Corporation.

SECTION 15.  PROTECTIVE PROVISIONS.

(a)  Until the Maturity Date (assuming full payment and performance by the
     Company of all of its obligations as of such date, if the Company has not
     fully paid and performed all of its obligations as of such date, it being
     understood that the Company's obligations under this section shall survive
     until such obligations have been satisfied), and so long as (X) if the
     Convertible Preferred Stock has been converted into shares of Common Stock
     after the receipt by the holders of notice of the Company's intention to
     redeem the Convertible Preferred Stock pursuant to the Statement of
     Designations, then for two years from the date of such conversion, provided
     that, the Investor and its Affiliates hold in the aggregate Common Stock
     Equivalents representing at least 25% of the Conversion Shares issuable
     upon conversion of the Convertible Preferred Stock issued on the Closing
     Date, or (Y) the Investor and its Affiliates hold in the aggregate at least
     25% of the shares of Convertible Preferred Stock issued on the Closing
     Date, the Company shall not, and shall not permit any Subsidiary, without
     the prior written consent of the Investor, to take any of the following
     actions; provided, however, that nothing in this Section 15 shall prohibit
     any transaction between or among the Company and one or more wholly-owned
     Subsidiaries or between or among wholly-owned Subsidiaries:

(i)  merge, consolidate or amalgamate with any person or entity, or sell all or
     substantially all of the assets of the Company or such Subsidiary (other
     than in connection with an acquisition or disposition of any business or
     assets for which the consent of the Investor is not required under clauses
     (vi) or (vii) below), unless prior to the consummation of such merger,
     consolidation, amalgamation or sale, the Company has paid the amount
     provided for in Section 15(c) below;

(ii) enter into any transaction, including, without limitation, any purchase,
     sale, lease or exchange of property, the rendering of any service or the
     payment of any management, advisory or similar fees, with any Affiliate
     unless such transaction is (i) in the ordinary course of business of the
     Company and its Subsidiaries, and (ii) upon fair and reasonable terms no
     less favorable to the Company and its Subsidiaries than they would obtain
     in a comparable arm's length transaction with a Person which is not an
     Affiliate;

                                      -22-
<PAGE>

(iii)  engage in any business other than the Business;

(iv)   effect, approve or authorize any Liquidation, or any Recapitalization
       (other than any Liquidation or Recapitalization of any wholly-owned
       Subsidiary);

(v)    amend, supplement or waive any of the terms or conditions of any
       agreement between the Company and a shareholder of the Company with
       respect to the retention by the shareholder of shares of the Company's
       capital stock unless such amendment waiver or restatement pertains to an
       agreement with a non-employee of the Company and involves less than
       10,000 shares of Common Stock (adjusted for stock splits, stock dividends
       and similar events after the date hereof);

(vi)   dispose of any business or asset, (whether by merger, consolidation, sale
       of stock, share exchange or otherwise) in a single transaction or a
       series of related transactions with an aggregate value in such
       transaction or series of related transactions (including all assumed
       debt, all cash payments, and the fair market value of all securities or
       other property issued as consideration) in excess of 2.5% of the total
       assets of the Company;

(vii)  acquire any business or assets (whether by merger, consolidation, share
       exchange or otherwise) in a single transaction or a series of related
       transactions with an aggregate value in such transaction or series of
       related transactions (including all assumed debt, all cash payments, and
       the fair market value of all securities or other property issued as
       consideration) in excess of 2.0% of total assets of the Company;

(viii) hire or fire, or amend the employment terms of the Chairman of the Board
       or the Chief Executive Officer of the Company (or the top two executive
       officers of the Company, if different), other than amendments to the
       benefits to which such executives are entitled resulting solely from an
       amendment to any benefit plan or program in which employees of the
       Company participate generally;

(ix)   through any transaction or series of related transactions incur or
       refinance any Indebtedness; except that the Company and any of its
       Subsidiaries may incur or refinance any (x) Indebtedness under the Credit
       Agreement so long as at the time such Indebtedness is incurred and after
       giving effect to the incurrence thereof, the Consolidated Leverage Ratio
       of the Company is less than 4.0 to 1.0; (y) any other Indebtedness so
       long as at the time such Indebtedness is incurred and after giving effect
       to the incurrence thereof, the aggregate outstanding amount of all such
       Indebtedness shall not exceed 2 1/2% of the total assets of the Company;
       or (z) Indebtedness incurred to repurchase or redeem the Convertible
       Preferred Stock;

(x)    make any single Capital Expenditure exceeding $10,000,000, or make
       aggregate Capital Expenditures for the Company and its Subsidiaries in
       any year exceeding 1.75% of the aggregate consolidated net revenues, as
       reflected in a budget approved by the Board for such fiscal year;

                                      -23-
<PAGE>

(xi)   create or acquire any interest in any Subsidiary other than a wholly-
       owned Subsidiary unless, after giving effect to such acquisition, the
       Company's aggregate investment in non-wholly owned Subsidiaries does not
       exceed 1% of the Company's consolidated total assets as of the end of the
       last fiscal quarter;

(xii)  adopt or amend any Equity-Linked Plan or make any bonus payment to any
       (i) employee of the Company or (ii) any President of any Subsidiary in
       excess of $250,000 (except pursuant to the terms of the arrangements in
       effect on the Closing Date); or

(xiii) agree or otherwise commit to take any of the actions set forth above.

        (b) Until the Maturity Date (assuming full payment and performance by
the Company of all of its obligations as of such date, if the Company has not
fully paid and performed all of its obligations as of such date, it being
understood that the Company's obligations under this Section shall survive until
such obligations have been satisfied) in the event the Convertible Preferred
Stock has been converted into shares of Common Stock after the receipt by the
holders of notice of the Company's intention to redeem the Convertible Preferred
Stock pursuant to the Statement of Designations and two years has elapsed since
the date of such conversion, for so long as the Investor and its Affiliates hold
in the aggregate at least 10% of the outstanding Common Stock of the Company,
the Company shall not, and shall not permit any Subsidiary, without the prior
written consent of the Investor to take any of the following actions provided,
however, that nothing in this Section 15 shall prohibit any transaction between
the Company and one or more wholly owned Subsidiaries between or among wholly
owned Subsidiaries:

(i)   merge, consolidate or amalgamate with any person or entity, or sell all or
      substantially all of the assets of the Company or such Subsidiary (other
      than in connection with an acquisition or disposition of any business or
      assets for which the consent of the Investor is not required under clauses
      15(a)(vi) or (vii) above, unless prior to the consummation of such merger,
      consolidation, amalgamation or sale, the Company has paid the amount
      provided for in Section 15(c) below;

(ii)  enter into any transaction, including, without limitation, any purchase,
      sale, lease or exchange of property, the rendering of any service or the
      payment of any management, advisory or similar fees, with any Affiliate
      unless such transaction is (i) in the ordinary course of business of the
      Company and its Subsidiaries, and (ii) upon fair and reasonable terms no
      less favorable to the Company and its Subsidiaries than they would obtain
      in a comparable arm's length transaction with a Person which is not an
      Affiliate;

(iii) effect, approve or authorize any Liquidation (other than a Liquidation or
      Recapitalization of a wholly-owned Subsidiary);

(iv)  hire or fire, or amend the employment terms of the Chairman of the Board
      or the Chief Executive Officer of the Company (or the top two executive
      officers of the Company, if different), other than amendments to the
      benefits to which such

                                      -24-
<PAGE>

      executives are entitled resulting solely from an amendment to any benefit
      plan or program in which employees of the Company participate generally;
      or

(v)   agree or otherwise commit to take any of the actions set forth above.

        (c) If the Company requests that the Investor consent to a merger,
consolidation or amalgamation described in Section 15(a)(i) or 15(b)(i) (a
"Proposed Transaction") and the Investor fails to consent to such Proposed
Transaction within 15 days after delivery of such request, then the Company may
consummate the Proposed Transaction without the consent of the Investor,
provided the Company purchases from the Investor all of (i) the shares of
Convertible Preferred Stock and (ii) the shares of Common Stock of the Company
received upon conversion thereof, in each case that are held by the Investor as
of the date of the Election Notice (as defined below)((i) and (ii) together the
"Retained Shares"), on the terms specified herein. In the event the Company
elects to exercise the right of repurchase set forth herein, it shall deliver
written notice to the Investor (an "Election Notice") no less than 20 days prior
to the date of consummation of the Proposed Transaction. The purchase price of
the Retained Shares shall be a sum (the "Purchase Price") that would provide to
the Investor a 25% annual rate of return compounded quarterly, on the Original
Cost of the shares of Convertible Preferred Stock represented by the Retained
Shares, such return to be calculated from the Closing Date through the date of
consummation of the Proposed Transaction. The Investor shall and shall cause all
of its Affiliates to vote all their shares of capital stock of the Company (or
to execute one or more written consents) in favor of any Proposed Transaction as
to which it has received an Election Notice. The closing of the purchase of the
Retained Shares pursuant to this Section 15(c) shall take place on the date of
consummation of the Proposed Transaction at which time the Company shall pay to
the Investor the Purchase Price, and the Investor shall deliver or cause to be
delivered to the Company certificates representing the Retained Shares.

SECTION 16.  STANDSTILL.

          Except pursuant to Section 2 hereof, prior to the second anniversary
of the Closing Date, the Investor shall not purchase or agree to purchase or
otherwise acquire beneficial ownership of additional shares of Common Stock,
other than by conversion of the Convertible Preferred Stock in accordance with
the terms of the Statement of Designations or by exercise of its warrants to
purchase shares of common stock of Building One Services Corporation, if after
giving effect to such proposed purchase, the Investor and its Affiliates would
own in the aggregate Common Stock Equivalents equal to greater than 30% of the
outstanding Voting Stock of the Company on such date.

SECTION 17.  VOTING AGREEMENT.

          The Investor agrees to vote all shares of capital stock held by the
Investor (by proxy or in person) in favor of the slate of directors recommended
by the Board to the shareholders at the annual shareholders' meetings of the
Company to be held in 2000 and 2001 and to cause all other Affiliates of the
Investor to vote their shares of capital stock of the Company in such manner.
The Investor and its Affiliates shall not enter into any agreement or
arrangement that confers on any Person, other than an Affiliate of the Investor,
the right to vote

                                      -25-
<PAGE>

(or execute written consents with respect to) any shares of Convertible
Preferred Stock or Conversion Shares, while such securities are owned by the
Investor or its Affiliates.

SECTION 18.  MISCELLANEOUS.

        (a)  Restrictive Legends.

(i)   Each certificate for Restricted Shares (unless otherwise permitted by the
      provisions of Section 18(a) (ii)) shall include a legend in substantially
      the following form:

                 "THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
                 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
                 SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD EXCEPT IN
                 COMPLIANCE THEREWITH.  THESE SECURITIES ARE SUBJECT TO
                 RESTRICTIONS ON VOTING, TRANSFER AND OTHER MATTERS AS SET FORTH
                 IN THE INVESTOR'S RIGHTS AGREEMENT DATED AS OF FEBRUARY 22,
                 2000;"

(ii)  Subject to Section 18(a)(iii), any holders of Restricted Shares registered
      pursuant to the Securities Act and qualified under applicable state
      securities laws may exchange certificates representing such Restricted
      Shares on transfer for new certificates that shall not bear the legend set
      forth in paragraph (i) of this Section 18(a);

(iii) Compliance with Securities Laws. Upon any proposed transfer of Restricted
      Shares, the Company shall register the transfer of such Restricted Shares
      on the stock transfer books of the Company if the Company shall have
      received (A) to the extent required to ensure compliance with the
      Securities Act, an opinion of counsel reasonably satisfactory to the
      Company, to the effect that the proposed transfer of Restricted Shares may
      be effected without registration under the Securities Act, (B)
      representation letters in form and substance reasonably satisfactory to
      the Company to ensure compliance with the provisions of the Securities Act
      and (C) the agreement of the transferee to comply with the provisions of
      Section 16 and 17 of this Agreement. Each certificate evidencing
      Restricted Shares transferred as above provided shall bear the legend set
      forth in Section 18(a)(i), except that such certificate shall not bear
      such legend if neither such legend nor the restrictions on transfer in
      Section 18(a) are required in order to ensure compliance with the
      provisions of the Securities Act.

        (b) Severability. Whenever possible, each provision of this Agreement
will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be invalid, illegal or
unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability will not affect
any other provision or any other jurisdiction, and such invalid, void or
otherwise unenforceable provisions shall be null and void. It is the intent of
the parties, however, that any invalid, void or otherwise unenforceable
provisions be automatically replaced by other

                                      -26-
<PAGE>

provisions which are as similar as possible in terms to such invalid, void or
otherwise unenforceable provisions but are valid and enforceable to the fullest
extent permitted by law.

        (c) Entire Agreement. This Agreement, together with the Subscription
Agreement, contains the entire agreement among the parties with respect to the
subject matter hereof and supersedes all prior arrangements or understandings
with respect hereto.

        (d) Successors and Assigns. This Agreement shall bind and inure to the
benefit of the Company and the Investor and their respective successors and
permitted assigns; provided, however, that each such person or entity shall, as
a condition to the effectiveness of such assignment, be required to execute a
counterpart to this Agreement whereupon such person or entity shall have the
benefits of, and shall be subject to the restrictions contained in, this
Agreement with respect to such Restricted Shares, including the provisions of
Section 16 and 17; provided, further, that the Investor shall not be entitled to
assign its rights under Sections 2, 3, 4 or 15 without the consent of the
Company other than to an Affiliate of the Investor.

        (e) Counterparts. This Agreement may be executed simultaneously in two
or more counterparts, any one of which need not contain the signatures of more
than one party, but all such counterparts taken together will constitute one and
the same agreement. It shall not be necessary in making proof of this Agreement
to produce or account for more than one such counterpart. The failure of any
Investor to execute this Agreement does not make it invalid as against any other
Investor.

        (f) Remedies. The Investor shall have all rights and remedies reserved
for such Investor pursuant to this Agreement and the Articles of Incorporation
and the By-laws of the Company, as amended, and all rights and remedies which
such Investor has been granted at any time under any other agreement or contract
and all of the rights which such holder has under any law or equity. Any person
having any rights under any provision of this Agreement will be entitled to
enforce such rights specifically, to recover damages by reason of any breach of
any provision of this Agreement and to exercise all other rights granted by law
or equity.

(i)  The parties hereto agree that if any parties seek to resolve any dispute
     arising under this Agreement pursuant to a legal proceeding, the prevailing
     parties to such proceeding shall be entitled to receive reasonable fees and
     expenses (including reasonable attorneys' fees and expenses) incurred in
     connection with such proceedings.

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

        (g) Notices. All notices, requests, consents and other communications
hereunder to any party shall be deemed to be sufficient if contained in a
written instrument and shall be

                                      -27-
<PAGE>

deemed to have been duly given when delivered in person, by telecopy, by
nationally-recognized overnight courier, or by first class registered or
certified mail, postage prepaid, addressed to such party at the address set
forth below or such other address as may hereafter be designated in writing by
the addressee to the addressor:

            (i)  if to the Company, to:

                 Group Maintenance America Corp.
                 8 Greenway Plaza, Suite 1500
                 Houston, Texas  77046
                 Phone: (713) 860-0100
                 Fax: (713) 626-4766
                 Attention: Chief Executive Officer

                 with copies to:

                 Bracewell & Patterson
                 711 Louisiana, Suite 2900
                 Houston, Texas  77002
                 Phone: (713) 223-2900
                 Fax: (713) 221-1212
                 Attention:  John L. Bland, Esq.

           (ii)  and, if to the Investor, to:

                 BOSS II, LLC
                 c/o Apollo Management, L.P.
                 1301 Avenue of the Americas, 38th Floor
                 New York, New York  10019
                 Phone: (212) 515-3201
                 Fax:  (212) 515-3262
                 Attention:  Andrew Africk

                 with copies to:

                 O'Sullivan Graev & Karabell, LLP
                 30 Rockefeller Plaza, 24th Floor
                 New York, New York  10112
                 Phone:  (212) 408-2400
                 Fax: (212) 728-5950
                 Attention:   John M. Scott, Esq.

All such notices, requests, consents and other communications shall be deemed to
have been delivered when received, or if received after the close of business,
on the next business day.

        (h) Governing Law; Jurisdiction; Venue; Process. This Agreement shall be
governed by and construed in accordance with the laws of the State of New York
without regard

                                      -28-
<PAGE>

to any choice of law or conflict of law provision or rule that would cause the
application of the laws of any jurisdiction other than the State of New York.
Any legal action in a proceeding brought in accordance with this Section shall
be brought in the courts of the State of New York or of the United States
District Court for the Southern District of New York, and by execution and
delivery of this Agreement, the parties hereby irrevocably accept for themselves
and in respect of their property, generally and unconditionally, the exclusive
jurisdiction of the aforesaid courts. The parties hereby irrevocably waive any
objection which they may now or hereafter have to laying of venue of any actions
or proceedings arising out of or in connection with this Agreement brought in
the courts referred to above and hereby further irrevocably waive and agree, not
to plead or claim in any such court that any such action or proceeding has been
brought in an inconvenient forum. The parties further agree that the mailing by
certified or registered mail, return receipt requested, of any process required
by any such court shall constitute valid and lawful service of process against
them, without necessity for service by any other means provided by statute or
rule of court.

(i)  Further Assurances.  Each party hereto shall do and perform or cause to be
     done and performed all such further acts and things and shall execute and
     deliver all such other agreements, certificates, instruments, and documents
     as any other party hereto reasonably may request in order to carry out the
     provisions of this Agreement and the consummation of the transactions
     contemplated hereby.

(j)  Modifications; Amendments; Waivers.  The terms and provisions of this
     Agreement may not be modified, amended or waived, except pursuant to a
     writing signed by the Company and the Investor, provided, however, Sections
     10 through 14 may be amended pursuant to a writing signed by the Company
     and the holders of a majority of the Restricted Shares .

(k)  Headings.  The headings of the various sections of this Agreement have been
     inserted for convenience of reference only and shall not be deemed to be a
     part of this Agreement.

(l)  Waiver.  No course of dealing between the Company and the Investor or any
     delay in exercising any rights hereunder will operate as a waiver of any
     rights of any party to this Agreement.  The failure of any party to enforce
     any of the provisions of this Agreement will in no way be construed as a
     waiver of such provisions and will not affect the right of such party
     thereafter to enforce each and every provision of this Agreement in
     accordance with its terms.

(m)  Mutual Waiver of Jury Trial.  BECAUSE DISPUTES ARISING IN CONNECTION WITH
     COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED
     BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE
     AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES
     DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE
     LAWS.  THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE
     JUDICIAL SYSTEM AND OF ARBITRATION, THE PARTIES HERETO WAIVE ALL RIGHT TO
     TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING BROUGHT TO
     ENFORCE OR DEFEND ANY RIGHTS OR REMEDIES UNDER THIS AGREEMENT OR ANY
     DOCUMENTS RELATED HERETO.

                                      -29-
<PAGE>

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the date first written above.

                              GROUP MAINTENANCE AMERICA CORP.

                              By: /s/ DARREN B. MILLER
                                  ----------------------------------
                                   Name:  Darren B. Miller
                                   Title: Chief Financial Officer

                              BOSS II, LLC

                              By: /s/ ANDREW AFRICK
                                  ----------------------------------
                                  Name:   Andrew Africk
                                  Title:  Manager<PAGE>

                                                                   EXHIBIT 10.18

     WARRANT AGREEMENT dated as of November 25, 1997 between Consolidation
Capital Corporation, a Delaware corporation (the "Company"), and Friedman,
Billings, Ramsey & Co., Inc. (hereinafter referred to as the "Representative").

                              W I T N E S S E T H:

     WHEREAS, the Representative has agreed, pursuant to the underwriting
agreement (the "Underwriting Agreement") dated November 25, 1997 between the
Representative, as representative of the several Underwriters named in the
Underwriting Agreement (the "Underwriters") and the Company, to act as one of
the underwriters in connection with the Company's proposed initial public
offering (the "Public Offering") of 24,000,000 shares of Common Stock ("Public
Shares") at an initial public offering price of $20.00 per Public Share; and

     WHEREAS, the Company proposes to issue to the Representative, in its
individual capacity and not as representative of the several Underwriters
(defined below) warrants ("Warrants") to purchase up 1,130,000 shares of common
stock, par value $.001 per share ("Common Stock") (the shares of Common Stock
covered by the Warrants are referred to as "Shares"); and

     WHEREAS, the Warrants issued pursuant to this Agreement are being issued by
the Company to the Representative or officers or partners of the Representative
in consideration for, and as part of the Representative's compensation in
connection with, the Representative acting as one of the underwriters pursuant
to the Underwriting Agreement;

     NOW, THEREFORE, in consideration of the premises and the agreements herein
set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

     1.  GRANT.

     The Representative, and/or any of its designees who are officers or
partners of the Representative is hereby granted the right to purchase, at any
time from November 25, 1998 until 5:00 P.M., New York City time, on November 25,
2002 (the "Warrant Exercise Term"), up to 1,130,000 shares of Common Stock at an
initial exercise price (subject to adjustment as provided in Article 8 hereof)
of $20.00 per Share.  Except as provided in Section 13 hereof, the Shares are in
all respects identical to the Public Shares being sold to the public pursuant to
the terms and provisions of the Underwriting Agreement.
<PAGE>

     2.  WARRANT CERTIFICATES.

     The warrant certificates (the "Warrant Certificates") delivered and to be
delivered pursuant to this Agreement shall be in the form set forth as Exhibit
A, attached hereto and made a part hereof, with such appropriate insertions,
omissions, substitutions and other variations as required or permitted by this
Agreement.

     3.  EXERCISE OF WARRANTS.

     3.1  CASH EXERCISE.  The Warrants initially are exercisable at a price of
$20.00 per Share purchased, payable in cash or by check to the order of the
Company, or any combination of cash or check, subject to adjustment as provided
in Article 8 hereof.  Upon surrender of the Warrant Certificate with the annexed
Form of Election to Purchase duly executed, together with payment of the
Exercise Price (as hereinafter defined) for the Shares purchased, at the
principal office of the Company (presently located at 1747 Pennsylvania Avenue,
NW, Suite 900, Washington, DC 20006) or at the office of its transfer agent, the
registered holder(s) of a Warrant Certificate ("Holder" or "Holders") shall be
entitled to receive a certificate or certificates for the Shares so purchased.
The purchase rights represented by each Warrant Certificate are exercisable at
the option of the Holder hereof, in whole or in part (but not as to fractional
Shares).  In the case of the purchase of less than all of the Shares purchasable
under any Warrant Certificate, the Company shall cancel said Warrant Certificate
upon the surrender thereof and shall execute and deliver a new Warrant
Certificate of like tenor for the balance of the Shares purchasable thereunder.

     3.2  CASHLESS EXERCISE.  At any time during the Warrant Exercise Term, the
Holder may, at its option, exchange this Warrant, in whole or in part (a
"Warrant Exchange"), into the number of Shares determined in accordance with
this Section 3.2, by surrendering this Warrant at the principal office of the
Company or at the office of its transfer agent, accompanied by a notice stating
such Holder's intent to effect such exchange, the number of Shares to be
exchanged and the date on which the Holder requests that such Warrant Exchange
occur (the "Notice of Exchange").  The Warrant Exchange shall take place on the
date specified in the Notice of Exchange or, if later, the date the Notice of
Exchange is received by the Company (the "Exchange Date").  Certificates for the
Shares issuable upon such Warrant Exchange and, if applicable, a new warrant of
like tenor evidencing the balance of the Shares remaining subject to this
Warrant, shall be issued as of the Exchange Date and delivered to the Holder
within three (3) days following the Exchange Date.  In connection with any
Warrant Exchange, this Warrant shall represent the right to subscribe for and
acquire the number of Shares (rounded to the next highest integer) equal to (i)
the number of Shares specified by the Holder in its Notice of Exchange (the
"Total Number"), but in no case more than the number of shares equal to the
number of shares listed on the warrant certificate, less (ii) the number of
Shares equal to the quotient obtained by dividing (A) the product of the Total
Number and the existing Exercise Price (as hereinafter defined) by (B) the
current market value of a Public Share.
<PAGE>

     4.  ISSUANCE OF CERTIFICATES.

     Upon the exercise of the Warrants, the issuance of certificates for the
Shares purchased shall be made forthwith (and in any event within three business
days thereafter) without charge to the Holder thereof including, without
limitation, any tax which may be payable in respect of the issuance thereof, and
such certificates shall (subject to the provisions of Article 5 hereof) be
issued in the name of, or in such names as may be directed by, the Holder
thereof; provided, however, that the Company shall not be required to pay any
tax which may be payable in respect of any transfer involved in the issuance and
delivery of any such certificates in a name other than that of the Holder and
the Company shall not be required to issue or deliver such certificates unless
or until the person or persons requesting the issuance thereof shall have paid
to the Company the amount of such tax or shall have established to the
satisfaction of the Company that such tax has been paid.

     The Warrant Certificates and the certificates representing the Shares shall
be executed on behalf of the Company by the manual or facsimile signature of the
present or any future Chairman or Vice Chairman of the Board of Directors or
President or Vice President of the Company under its corporate seal reproduced
thereon, attested to by the manual or facsimile signature of the present or any
future Secretary or Assistant Secretary of the Company.  Warrant Certificates
shall be dated the date of execution by the Company upon initial issuance,
division, exchange, substitution or transfer.

     Upon exercise, in part or in whole, of the Warrants, certificates
representing the Shares shall bear a legend substantially similar to the
following:

     "The securities represented by this certificate and the other securities
     issuable upon exercise thereof have not been registered under the
     Securities Act of 1933, as amended (the "Act"), and may not be offered or
     sold except (i) pursuant to an effective registration statement under the
     Act, (ii), to the extent applicable, pursuant to Rule 144 under the Act (or
     any similar rule under such Act relating to the disposition of securities),
     or (iii) upon the delivery by the holder to the Company of an opinion of
     counsel, reasonably satisfactory to counsel to the Company, stating that an
     exemption from registration under such Act is available."

     5.   RESTRICTION ON TRANSFER OF WARRANTS.

     The Holder of a Warrant Certificate, by its acceptance thereof, covenants
and agrees that the Warrants are being acquired as an investment and not with a
view to the distribution thereof, and that the Warrants may not be sold,
transferred, assigned, hypothecated or otherwise disposed of, in whole or in
part, except (i) to officers, directors or affiliates of the Representative (ii)
to transferees whom in the opinion of counsel to the Company qualify for an
exemption from the Act pursuant to a section 4 (1 1/2) analysis.  The Warrant
Certificate may bear a legend substantially similar to the following: .
<PAGE>

     6.   PRICE.

     6.1  INITIAL AND ADJUSTED EXERCISE PRICE.  The initial exercise price of
each Warrant shall be $20.00 per Share.  The adjusted exercise price shall be
the price which shall result from time to time from any and all adjustments of
the initial exercise price in accordance with the provisions of Article 8
hereof.

     6.2  EXERCISE PRICE.  The term "Exercise Price" herein shall mean the
initial exercise price or the adjusted exercise price, depending upon the
context.

     7.   REGISTRATION RIGHTS.

     7.1  REGISTRATION UNDER THE SECURITIES ACT OF 1933.  None of the Warrants
nor the Shares have been registered for purposes of public distribution under
the Securities Act of 1933, as amended (the "Act").

     7.2  REGISTRABLE SECURITIES.  As used herein the term "Registrable
Security" means each of the Shares and any Common Stock issued upon any stock
split or stock dividend in respect of such Shares; provided, however, that with
respect to any particular Registrable Security, such security shall cease to be
a Registrable Security when, as of the date of determination, (i) it has been
effectively registered under the Act and disposed of pursuant thereto, (ii)
registration under the Act is no longer required for subsequent sale of such
security or (iii) it has ceased to be outstanding.  The term "Registrable
Securities" means any and/or all of the securities falling within the foregoing
definition of a "Registrable Security."  In the event of any merger,
reorganization, consolidation, recapitalization or other change in corporate
structure affecting the Common Stock, such adjustment shall be made in the
definition of "Registrable Security" as is appropriate in order to prevent any
dilution or enlargement of the rights granted pursuant to this Article 7.

     7.3  PIGGYBACK REGISTRATION.

          (a) If, at any time during the seven years following the date of this
Agreement, the Company proposes to prepare and file one or more registration
statement(s) filed in connection with a public offering covering equity
securities of the Company, or any such securities of the Company held by its
shareholders (other than in connection with an exchange offer, a "rights"
offering to shareholders, an offering relating to an employee benefit plan,
dividend reinvestment plan, an acquisition, a merger, the conversion of any
convertible securities, an exchange of a security, or a stand-by underwriting
with respect to the call of a warrant, option, right or convertible security for
redemption), (for purposes of this Article 7, collectively, a "Registration
Statement"), it will give written notice of its intention to do so by registered
mail ("Notice"), at least thirty (30) business days prior to the filing of each
such Registration Statement, to all holders of the Registrable Securities or, in
the event that the Company has not formulated its intent to file such
Registration
<PAGE>

Statement at least thirty (30) calendar days before the anticipated filing date
of the Registration Statement, as soon as practicable upon the formation by the
Company of such intent. However, no such Notice need be given if the
Registration Statement is for an underwritten offering of securities other than
equity securities or securities convertible into equity securities. Upon the
written request of such a holder (a "Requesting Holder"), made within twenty
(20) business days after receipt of the Notice, that the Company include any of
the Requesting Holder's Registrable Securities in the proposed Registration
Statement, the Company shall, as to each such Requesting Holder, use its best
efforts to effect the registration under the Act of the Registrable Securities
which it has been so requested to register ("Piggyback Registration"), at the
Company's sole cost and expense and at no cost or expense to the Requesting
Holders. The Company shall not be required to honor any such request (i) if, in
opinion of counsel to the Company reasonably acceptable to such Holder who
wishes to have such Registrable Securities included in such Registration
Statement, registration under the Act is not required for the transfer of the
Registrable Securities in the manner proposed by such Holder; or (ii) to
register in the aggregate fewer than 25,000 Shares held by the Holders. The
Company shall permit, or shall use its best efforts to cause the managing
underwriter of a proposed offering to permit, the Holders of Registrable
Securities requested to be included in the registration (the "Piggy-Back
Shares") to include such Piggy-Back Shares in the proposed offering on the same
terms and conditions as applicable to the shares of Common Stock offered by the
Company and for the account of any person other than the Company, as the case
may be.

          (b) Notwithstanding the foregoing, if any such managing underwriter
shall advise the Company in writing that, in its opinion, the distribution of
all or a portion of the Registrable Securities requested to be included in the
Registration Statement concurrently with the shares of Common Stock being
registered by the Company would materially adversely affect the distribution of
such securities by the Company for its own account, or for the account of any
person or persons other than the Company that have asserted, with respect to
such registration, demand registration rights under any other agreement, then
such inclusion of Registrable Securities shall be made pro rata among the
aggregate of the Registrable Securities for which a proper request was made
under this subsection 7.3 and any other securities properly requested to be
included in the registration by other holders pursuant to piggy-back or
incidental registration rights under any other agreement.

     7.4  DEMAND REGISTRATION.

          (a) At any time during the Warrant Exercise Term, any "Majority
Holder" (as such term is defined in Section 7.4(c) below) of the Registrable
Securities shall have the right (which right is in addition to the piggyback
registration rights provided for under Section 7.3 hereof), exercisable by
written notice to the Company (the "Demand Registration Request"), to have the
Company prepare and file with the Securities and Exchange Commission (the
"Commission"), on one occasion, at the sole expense of the Company, a
Registration Statement and such other documents, including a prospectus, as may
be necessary (in the opinion of both counsel for the Company and counsel for
such Majority Holder), in order to comply with the provisions of the Act, so as
to permit a public offering and sale of the Registrable Securities by the
holders thereof, for
<PAGE>

twelve (12) consecutive months. The Company shall not be required to file any
amendments to the Registration Statement required by this subsection 7.4(a)
except as is necessary to keep the disclosure about the Company current.

          (b) The Company covenants and agrees to give written notice of any
Demand Registration Request to all holders of the Registrable Securities within
ten (10) days from the date of the Company's receipt of any such Demand
Registration Request.  After receiving notice from the Company as provided in
this Section 7.4(b), holders of Registrable Securities may request the Company
to include their Registrable Securities in the Registration Statement to be
filed pursuant to Section 7.4(a) hereof by notifying the Company of their
decision to include such securities within ten (10) days of their receipt of the
Company's notice.

          (c) The term "Majority Holder" as used in this Section 7.4 shall mean
any holder or any combination of holders of Registrable Securities, if included
in such holders' Registrable Securities are that aggregate number of Shares
(including Shares already issued and Shares issuable pursuant to the exercise of
outstanding Warrants) as would constitute a majority of the aggregate number of
Shares (including Shares already issued and Shares issuable pursuant to the
exercise of outstanding Warrants) included in all of the Registrable Securities.

     7.5  COVENANTS OF THE COMPANY WITH RESPECT TO REGISTRATION.  The Company
covenants and agrees as follows:

          (a) In connection with any registration under Section 7.4 hereof, the
Company shall file the Registration Statement as expeditiously as possible, but
in no event later than thirty (30) days following receipt of any demand
therefor, shall use its best efforts to have any such Registration Statements
declared effective at the earliest possible time.  If a written request,
however, is received by the Company that would require the filing of a
Registration Statement between 45 and 105 days after the end of its fiscal year,
the deadline for the filing of the Registration Statement shall be extended
until the 106th day of such fiscal year.  The Company shall furnish each holder
of Registrable Securities such number of prospectuses as shall reasonably be
requested.  However, in connection with any registration under Sections 7.3 and
7.4 hereof, the Company shall have sole control in connection with the
preparation, filing, amending and supplementing of the Registration Statement,
including the right to withdraw the same or delay the effectiveness thereof
when, in the sole judgment of the Board of Directors of the Company, the filing
or pendency of such registration statement or the effectiveness thereof would
impose an undue burden upon the ability by the Company to proceed with any other
material financing for its own account or any material corporate transaction,
including, but not limited to, a reorganization, recapitalization, merger,
consolidation or material acquisition of the securities or assets of another
firm or corporation; provided, however, that the Company's exercise of any such
right of withdrawal or delay shall not be deemed a waiver of the rights of the
Holders, and the Company shall be required to file a new Registration Statement
or to proceed with such actions as reasonably may be required to cause the
Registration Statement to become effective within a reasonable time
<PAGE>

after the consummation of the event or transaction which required such
withdrawal or delay.

          (b) The Company shall pay all costs, fees and expenses in connection
with all Registration Statements filed pursuant to Sections 7.3 and 7.4(a)
hereof including, without limitation, the Company's legal and accounting fees,
printing expenses, and blue sky fees and expenses.  Each Holder, however, shall
pay the underwriting discount attributable to such Holder's Registrable
Securities, any transfer tax payable with respect thereto and the fees and
expenses of such Holder's counsel.

          (c) The Company will take all necessary action which may be required
in qualifying or registering the Registrable Securities included in a
Registration Statement for offering and sale under the securities or blue sky
laws of such states as are requested by the holders of such securities, provided
that the Company shall not be obligated to execute or file any general consent
to service of process or to qualify as a foreign corporation to do business
under the laws of any such jurisdiction.

          (d) The Company shall indemnify any holder of the Registrable
Securities to be sold pursuant to any Registration Statement and any underwriter
or person deemed to be an underwriter under the Act and each person, if any, who
controls such holder or underwriter or person deemed to be an underwriter within
the meaning of Section 15 of the Act or Section 20(a) of the Securities Exchange
Act of 1934, as amended ("Exchange Act"), against all loss, claim, damage,
expense or liability (including all expenses reasonably incurred in
investigating, preparing or defending against any claim whatsoever) to which any
of them may become subject under the Act, the Exchange Act or otherwise, arising
from such Registration Statement to the same extent and with the same effect as
the provisions pursuant to which the Company has agreed to indemnify the
Underwriters contained in Section 8 of the Underwriting Agreement and shall
provide for just and equitable contribution as set forth in Section 8 of the
Underwriting Agreement.

          (e) Any holder of Registrable Securities to be sold pursuant to a
Registration Statement, and its successors and assigns, shall severally, and not
jointly, indemnify the Company, its officers and directors and each person, if
any, who controls the Company within the meaning of Section 15 of the Act or
Section 20(a) of the Exchange Act, against all loss, claim, damage or expense or
liability (including all expenses reasonably incurred in investigating,
preparing or defending against any claim whatsoever) to which they may become
subject under the Act, the Exchange Act or otherwise, arising from information
furnished in writing by or on behalf of such holder, or its successors or
assigns, for specific inclusion in such Registration Statement to the same
extent and with the same effect as the provisions contained in Section 8 of the
Underwriting Agreement pursuant to which the Underwriters have agreed to
indemnify the Company and shall provide for just and equitable contribution as
set forth in Section 8 of the Underwriting Agreement.
<PAGE>

          (f) Nothing contained in this Agreement shall be construed as
requiring any Holder to exercise his Warrants prior to the initial filing of any
Registration Statement or the effectiveness thereof.

          (g) If the Company shall fail to comply with the provisions of this
Article 7, the Company shall, in addition to any other equitable or other relief
available to the holders of Registrable Securities, be liable for any or all
incidental, special and consequential damages sustained by the holders of
Registrable Securities that request registration of their Registrable
Securities.

          (h) Except as set forth in Section 7.5(j) hereof, the Company shall
not permit the inclusion of any securities other than the Registrable Securities
to be included in any Registration Statement filed pursuant to Section 7.4
hereof, or permit a Registration Statement relating to an underwritten offering
of the same securities as the Registrable Securities to be filed during an
underwritten offering of the Registrable Securities covered by a Registration
Statement filed pursuant to Section 7.4 hereof, without the prior written
consent of the Majority Holders, which consent shall not be unreasonably
withheld.

          (i) The Company shall deliver promptly to each holder of Registrable
Securities participating in the offering in which such Holder's shares are being
registered pursuant to Section 7.3 hereof and requesting the correspondence and
memoranda described in this Section 7.5(i) and to the managing underwriter, if
any, copies of all correspondence between the Commission and the Company, its
counsel or auditors and all memoranda relating to discussions with the
Commission or its staff with respect to the Registration Statement and permit
each holder of Registrable Securities and underwriters to do such investigation,
upon reasonable advance notice, with respect to information contained in or
omitted from the Registration Statement as it deems reasonably necessary to
comply with applicable securities laws or rules of the National Association of
Securities Dealers, Inc.  Such investigation shall include access to books,
records and properties and opportunities to discuss the business of the Company
with its officers and independent auditors, all to such reasonable extent and at
such reasonable times and as often as any such holder of Registrable Securities
or underwriter shall reasonably request.

          (j) Upon the written request therefor by any holders of Registrable
Securities, the Company shall include in the Registration Statement filed for an
underwritten offering covering any such holders Registrable Securities, any
additional shares of Common Stock of the Company held by such holders as of the
date of filing of such Registration Statement.  The holders shall pay any
additional costs, fees and expenses associated with the inclusion on such
Registration Statement of any of such holders shares of Common Stock that are
not Registerable Securities that are included on the Registration Statement.
Notwithstanding the foregoing, if any such managing underwriter shall advise the
Company in writing that, in its opinion, the distribution of all or a portion of
the Common Stock that are not Registrable Securities requested to be included in
the Registration Statement concurrently with the Registrable Securities being
registered by such
<PAGE>

holders would materially adversely affect the distribution of such offering then
such additional shares of Common Stock shall be excluded from the Registration
Statement.

          (k) Upon the written request therefor by any holders of Registrable
Securities, the Company shall include in the Registration Statement filed for a
non-underwritten offering covering any of the Registrable Securities, any other
securities of the Company held by such holders as of the date of filing of such
Registration Statement, including, without limitation, restricted shares of
Common Stock, options, warrants or any other securities convertible into shares
of Common Stock.  The holders shall pay any additional costs, fees and expenses
associated with the inclusion on such Registration Statement of any of such
holders other securities of the Company that are not Registerable Securities
that are included on the Registration Statement.

     8.   ADJUSTMENTS OF EXERCISE PRICE AND NUMBER OF SECURITIES.  The following
adjustments apply to the Exercise Price of the Warrants with respect to the
Shares and the number of Shares purchasable upon exercise of the Warrants.

     8.1  COMPUTATION OF ADJUSTED PRICE.  In case the Company shall at any time
after the date hereof pay a dividend in shares of Common Stock or make a
distribution in shares of Common Stock to its stockholders, then upon such
dividend or distribution the Exercise Price in effect immediately prior to such
dividend or distribution shall forthwith be reduced to a price determined by
dividing:

          (a) an amount equal to the total number of shares of Common Stock
outstanding immediately prior to such dividend or distribution multiplied by the
Exercise Price in effect immediately prior to such dividend or distribution, by

          (b) the total number of shares of Common Stock outstanding immediately
after such issuance or sale.

          For the purposes of any computation to be made in accordance with the
provisions of this Section 8.1, the shares of Common Stock issuable by way of a
dividend or other distribution on any shares of Common Stock of the Company
shall be deemed to have been issued immediately after the opening of business on
the date following the date fixed for the determination of stockholders entitled
to receive such dividend or other distribution.

     8.2  SUBDIVISION AND COMBINATION.  In case the Company shall at any time
subdivide or combine the outstanding shares of Common Stock, the Exercise Price
shall forthwith be proportionately decreased in the case of a subdivision or
increased in the case of a combination.

     8.3  ADJUSTMENT IN NUMBER OF SECURITIES.  Upon each adjustment of the
Exercise Price pursuant to the provisions of this Article 8, the number of
Shares issuable upon the exercise of each Warrant shall be adjusted to the
nearest full Share by multiplying a number equal
<PAGE>

to the Exercise Price in effect immediately prior to such adjustment by the
number of Shares issuable upon exercise of the Warrants immediately prior to
such adjustment and dividing the product so obtained by the adjusted Exercise
Price.

     8.4  RECLASSIFICATION, CONSOLIDATION, MERGER, ETC.  In case of any
reclassification or change of the outstanding shares of Common Stock (other than
a change in par value to no par value, or from no par value to par value, or as
a result of a subdivision or combination), or in the case of any consolidation
of the Company with, or merger of the Company into, another corporation (other
than a consolidation or merger in which the Company is the surviving corporation
and which does not result in any reclassification or change of the outstanding
shares of Common Stock, except a change as a result of a subdivision or
combination of such shares or a change in par value, as aforesaid), or in the
case of a sale or conveyance to another corporation of the property of the
Company as an entirety, the Holders shall thereafter have the right to purchase
the kind and number of shares of stock and other securities and property
receivable upon such reclassification, change, consolidation, merger, sale or
conveyance as if the Holders were the owners of the Shares immediately prior to
any such events and at an aggregate price equal to the product of (x) the number
of shares of Common Stock issuable upon exercise of the Holders' Warrants and
(y) the Exercise Price in effect immediately prior to the record date for such
reclassification, change, consolidation, merger, sale or conveyance as if such
Holders had exercised the Warrants.

     8.5  DETERMINATION OF OUTSTANDING COMMON STOCK.  The number of shares of
Common Stock at any one time outstanding shall include the aggregate number of
shares issued or issuable upon the exercise of options, rights, warrants and
upon the conversion or exchange of convertible or exchangeable securities.

     8.6  SUBSCRIPTION RIGHTS FOR COMMON STOCK OR OTHER SECURITIES.  In the case
that the Company or an affiliate of the Company shall at any time after the date
hereof and prior to the exercise of all of the Warrants issue any rights to
subscribe for shares of Common Stock or any other securities of the Company or
of such affiliate to all of the shareholders of the Company, the Holders of the
unexercised Warrants shall be entitled, in addition to the shares of Common
Stock or other securities receivable upon the exercise of the Warrants, to
receive at the time such rights as are distributed to the other shareholders of
the Company.

     9.   EXCHANGE AND REPLACEMENT OF WARRANT CERTIFICATES.

     Each Warrant Certificate is exchangeable without expense, upon the
surrender hereof by the registered Holder at the principal executive office of
the Company, for a new Warrant Certificate of like tenor and date representing
in the aggregate the right to purchase the same number of Shares in such
denominations as shall be designated by the Holder thereof at the time of such
surrender.
<PAGE>

     Upon receipt by the Company of evidence reasonably satisfactory to it of
the loss, theft, destruction or mutilation of any Warrant Certificate, and, in
case of loss, theft or destruction, of indemnity or security reasonably
satisfactory to it, and reimbursement to the Company of all reasonable expenses
incidental thereto, and upon surrender and cancellation of the Warrants, if
mutilated, the Company will make and deliver a new Warrant Certificate of like
tenor, in lieu thereof.

     10.  ELIMINATION OF FRACTIONAL INTERESTS.

     The Company shall not be required to issue certificates representing
fractions of Shares upon the exercise of the Warrants nor shall it be required
to issue scrip or pay cash in lieu of fractional interests, it being the intent
of the parties that all fractional interests shall be eliminated by rounding any
fraction up to the nearest whole number of Shares.

     11.  RESERVATION AND LISTING OF SECURITIES.

     The Company shall at all times reserve and keep available out of its
authorized Common Stock, solely for the purpose of issuance upon the exercise of
the Warrants, such number of shares of Common Stock as shall be issuable upon
the exercise thereof.  The Company covenants and agrees that, upon exercise of
the Warrants and payment of the Exercise Price therefor, all Shares issuable
upon such exercise shall be duly and validly issued, fully paid, non-assessable
and not subject to the preemptive rights of any shareholder.  As long as the
Warrants shall be outstanding, the Company shall use its best efforts to cause
all shares of Common Stock issuable upon the exercise of the Warrants to be
listed on or quoted by the Nasdaq National Market, or listed on such national
securities exchanges as requested by the Underwriter.

     12.  NOTICES TO WARRANT HOLDERS.

     Nothing contained in this Agreement shall be construed as conferring upon
the Holder or Holders the right to vote or to consent or to receive notice as a
stockholder in respect of any meetings of stockholders for the election of
directors or any other matter, or as having any rights whatsoever as a
stockholder of the Company.  If, however, at any time prior to the expiration of
the Warrants and their exercise, any of the following events shall occur:

          (a) the Company shall take a record of all of the holders of its
     shares of Common Stock for the purpose of entitling them to receive a
     dividend or distribution payable otherwise than in cash, or a cash dividend
     or distribution payable otherwise than out of current or retained earnings,
     as indicated by the accounting treatment of such dividend or distribution
     on the books of the Company; or

          (b) the Company shall offer to all of the holders of its shares of
     Common Stock any additional shares of capital stock of the Company or
     securities convertible into or
<PAGE>

     exchangeable for shares of capital stock of the Company, or any option,
     right or warrant to subscribe therefor; or

          (c) a dissolution, liquidation or winding up of the Company (other
     than in connection with a consolidation or merger) or a sale of all or
     substantially all of its property, assets and business as an entirety shall
     be proposed; or

          (d) reclassification or change of the outstanding shares of Common
     Stock (other than a change in par value to no par value, or from no par
     value to par value, or as a result of a subdivision or combination),
     consolidation of the Company with, or merger of the Company into, another
     corporation (other than a consolidation or merger in which the Company is
     the surviving corporation and which does not result in any reclassification
     or change of the shares of outstanding Common Stock, except a change as a
     result of a subdivision or combination of such shares or a change in par
     value, as aforesaid), or a sale or conveyance to another corporation of the
     property of the Company as an entirety is proposed; or

          (e) the Company or an affiliate of the Company shall propose to issue
     any rights to subscribe for shares of Common Stock or any other securities
     of the Company or of such affiliate to all the stockholders of the Company;

then, in any one or more of said events, the Company shall give written notice
of such event at least fifteen (15) days prior to the date fixed as a record
date or the date of closing the transfer books for the determination of the
shareholders entitled to such dividend, distribution, convertible or
exchangeable securities or subscription rights, options or warrants, or entitled
to vote on such proposed dissolution, liquidation, winding up or sale.  Such
notice shall specify such record date or the date of closing the transfer books,
as the case may be.  Failure to give such notice or any defect therein shall not
affect the validity of any action taken in connection with the declaration or
payment of any such dividend or distribution, or the issuance of any convertible
or exchangeable securities or subscription rights, options or warrants, or any
proposed dissolution, liquidation, winding up or sale.

     13.  NOTICES.

     All of notices, requests, consents and other communications hereunder shall
be in writing and shall be deemed to have been duly made when delivered, or
mailed by registered or certified mail, return receipt requested:

          (a)  If to a registered Holder of the Warrants, to the address of such
     Holder as shown on the books of the Company; or

          (b)  If to the Company, to the address set forth in Section 3 of this
     Agreement or to
<PAGE>

     such other address as the Company may designate by notice to the Holders.

     14.  SUPPLEMENTS AND AMENDMENTS.

     The Company and the Representative may from time to time supplement or
amend this Agreement without the approval of any Holders of Warrant Certificates
in order to cure any ambiguity, to correct or supplement any provision contained
herein which may be defective or inconsistent with any provisions herein, or to
make any other provisions in regard to matters or questions arising hereunder
which the Company and the Representative may deem necessary or desirable and
which the Company and the Representative deem not to adversely affect the
interests of the Holders of Warrant Certificates.

     15.  SUCCESSORS.

     All of the covenants and provisions of this Agreement by or for the benefit
of the Company and the Holders inure to the benefit of their respective
successors and assigns hereunder.

     16.  TERMINATION.

     This Agreement shall terminate at the close of business on November 25,
2005.   Notwithstanding the foregoing, this Agreement will terminate on any
earlier date when all Warrants have been exercised and all Shares have been
resold to the public.

     17.  GOVERNING LAW.

     This Agreement and each Warrant Certificate issued hereunder shall be
deemed to be a contract made under the laws of the State of Delaware and for all
purposes shall be construed in accordance with the laws of said State.

     18.  BENEFITS OF THIS AGREEMENT.

     Nothing in this Agreement shall be construed to give to any person or
corporation other than the Company and the Underwriter and any other registered
holder or holders of the Warrant Certificates, or Shares any legal or equitable
right, remedy or claim under this Agreement; and this Agreement shall be for the
sole and exclusive benefit of the Company and the Underwriter and any other
holder or holders of the Warrant Certificates, Warrants or the Shares.

     19.  COUNTERPARTS.

     This Agreement may be executed in any number of counterparts and each of
such counterparts shall for all purposes be deemed to be an original, and such
counterparts shall together constitute but one and the same instrument.
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed, as of the day and year first above written.

                              CONSOLIDATION CAPITAL CORPORATION

                              By: /s/ JOHATHAN J. LEDECKY
                                  --------------------------------
                                    Name:  Jonathan J. Ledecky
                                    Title: Chairman and Chief
                                             Executive Officer

Attest:

/s/ F. T. BECK
--------------------------

                              FRIEDMAN, BILLINGS, RAMSEY & CO., INC.

                              By: /s/ JAMES R. KLEEBLATT
                                  --------------------------------
                                    Name:  James R. Kleeblatt
                                    Title:  Managing Director
<PAGE>

                                   EXHIBIT A

THE WARRANTS REPRESENTED BY THIS CERTIFICATE AND THE OTHER SECURITIES ISSUABLE
UPON EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE "ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT (i) PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE,
PURSUANT TO RULE 144 UNDER SUCH ACT (OR ANY SIMILAR RULE UNDER SUCH ACT RELATING
TO THE DISPOSITION OF SECURITIES), OR (iii) UPON THE DELIVERY BY THE HOLDER TO
THE COMPANY OF AN OPINION OF COUNSEL, REASONABLY SATISFACTORY TO COUNSEL FOR THE
COMPANY, STATING THAT AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT IS
AVAILABLE.

THE TRANSFER OR EXCHANGE OF THE WARRANTS REPRESENTED BY THIS CERTIFICATE IS
RESTRICTED IN ACCORDANCE WITH THE WARRANT AGREEMENT REFERRED TO HEREIN.

  EXERCISABLE ON OR BEFORE 5:00 P.M., NEW YORK TIME, November 25, 2002

No. W-1                                            1,130,000 Warrants

                              WARRANT CERTIFICATE

     This Warrant Certificate certifies that Friedman, Billings, Ramsey & Co.,
Inc. or registered assigns, is the registered holder of 1,130,000 Warrants to
purchase, at any time from November 25, 1998 until 5:00 P.M. New York City time
on November 25, 2002 ("Expiration Date"), up to 1,130,000 fully paid and non-
assessable shares ("Shares") of the Common Stock, par value $.001 per share
("Common Stock"), of Consolidation Capital Corporation, a Delaware corporation
(the "Company"), at the initial exercise price, subject to adjustment in certain
events (the "Exercise Price"), of $20.00 per Share, upon surrender of this
Warrant Certificate and payment of the Exercise Price at an office or agency of
the Company, but subject to the conditions set forth herein and in the warrant
agreement dated as of November 25, 1997 between the Company and Friedman,
Billings, Ramsey & Co., Inc. (the "Warrant Agreement").  Payment of the Exercise
Price may be made in cash, or by check payable to the order of the Company, or
any combination of cash or check, or pursuant to Section 3.2 of the Warrant
Agreement.

     No Warrant may be exercised after 5:00 P.M., New York City time, on the
Expiration Date, at which time all Warrants evidenced hereby, unless exercised
prior thereto, shall thereafter be void.
<PAGE>

     The Warrants evidenced by this Warrant Certificate are part of a duly
authorized issue of Warrants issued pursuant to the Warrant Agreement, which
Warrant Agreement is hereby incorporated by reference in and made a part of this
instrument and is hereby referred to in a description of the rights, limitation
of rights, obligations, duties and immunities thereunder of the Company and the
holders (the words "holders" or "holder" meaning the registered holders or
registered holder) of the Warrants.

     The Warrant Agreement provides that upon the occurrence of certain events,
the Exercise Price and/or number of the Company's securities issuable thereupon
may, subject to certain conditions, be adjusted.  In such event, the Company
will, at the request of the holder, issue a new Warrant Certificate evidencing
the adjustment in the Exercise Price and the number and/or type of securities
issuable upon the exercise of the Warrants; provided, however, that the failure
of the Company to issue such new Warrant Certificates shall not in any way
change, alter, or otherwise impair, the rights of the holder as set forth in the
Warrant Agreement.

     Upon due presentment for registration of transfer of this Warrant
Certificate at an office or agency of the Company, a new Warrant Certificate or
Warrant Certificates of like tenor and evidencing in the aggregate a like number
of Warrants shall be issued to the transferee(s) in exchange for this Warrant
Certificate, subject to the limitations provided herein and in the Warrant
Agreement, without any charge except for any tax, or other governmental charge
imposed in connection therewith.

     Upon the exercise of less than all of the Warrants evidenced by this
Certificate, the Company shall forthwith issue to the holder hereof a new
Warrant Certificate representing such number of unexercised Warrants.

     The Company may deem and treat the registered holder(s) hereof as the
absolute owner(s) of this Warrant Certificate (notwithstanding any notation of
ownership or other writing hereon made by anyone), for the purpose of any
exercise hereof, and of any distribution to the holder(s) hereof, and for all
other purposes, and the Company shall not be affected by any notice to the
contrary.

     All terms used in this Warrant Certificate which are defined in the Warrant
Agreement shall have the meanings assigned to them in the Warrant Agreement.
<PAGE>

     IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be
duly executed under its corporate seal.

Dated:  December 2, 1997      CONSOLIDATION CAPITAL CORPORATION

[SEAL]                        By: /s/ JONATHAN J. LEDECKY
                                  ------------------------------------
                                    Name:  Jonathan J. Ledecky
                                    Title: Chairman and Chief Executive
                                             Officer

<PAGE>

                         [FORM OF ELECTION TO PURCHASE]

     The undersigned hereby irrevocably elects to exercise the right,
represented by this Warrant Certificate, to purchase _________ Shares and
herewith tenders in payment for such Shares cash or a certified or official bank
check payable in New York Clearing House Funds to the order of CONSOLIDATION
CAPITAL CORPORATION in the amount of $__________, all in accordance with the
terms hereof.  The undersigned requests that a certificate for such Shares be
registered in the name of ___________________, whose address is
__________________, and that such Certificate be delivered to
__________________, whose address is _____________.

Dated:              Signature:_______________________________________

                         (Signature must conform in all respects to name of
                         holder as specified on the face of the Warrant
                         Certificate.)

                         ________________________________

                         ________________________________
                         (Insert Social Security or Other
                         Identifying Number of Holder)
<PAGE>

                              [FORM OF ASSIGNMENT]

               (To be executed by the registered holder if such
             holder desires to transfer the Warrant Certificate.)

     FOR VALUE RECEIVED _________________________________________________

hereby sells, assigns and transfers unto

_____________________________________________________________________________
(Please print name and address of transferee)

this Warrant Certificate, together with all right, title and interest therein,
and does hereby irrevocably constitute and appoint _______________, Attorney, to
transfer the within Warrant Certificate on the books of the within-named
Company, with full power of substitution.

Dated:                   Signature:______________________________________

                         (Signature must conform in all respects to name of
                         holder as specified on the face of the Warrant
                         Certificate)

_______________________________

________________________________
Insert Social Security or Other
Identifying Number of Assignee)

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