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                                                                   EXHIBIT 10.34

                                PLEDGE AGREEMENT

             THIS PLEDGE AGREEMENT (this "Pledge Agreement"), dated as of
    October 11, 1999, is executed by Lee Waters ("Pledgor"), in favor of
    ClientLogic Corporation, a Delaware corporation ("Lender").

                                    RECITALS

         A. Pledgor has requested that Lender make a loan to Pledgor in the
    principal amount of $65,000.00 (the "Loan") pursuant to that certain
    Promissory Notes, dated as of even date herewith, made by Pledgor in favor
    of Lender (the "Note") in connection with Lender's relocation of Pledgor to
    Nashville, Tennessee, and other reasons.

         B. It is a condition precedent to the obligations of Lender to make the
    Loan under the Note that Pledger shall have executed and delivered this
    Pledge Agreement.

                                    AGREEMENT

             NOW, THEREFORE, in consideration of the above recitals and for
    other good and valuable consideration, the receipt and adequacy of which are
    hereby acknowledged, Pledgor hereby agrees with Lender as follows:

             1. Definitions and Interpretation. All terms defined in the New
    York Uniform Commercial Code (the "UCC") shall have the respective meanings
    given to those terms in the UCC.

             2. The Pledge. To secure the payment when due of all obligations
    and liabilities of Pledger under the Note, including all principal and
    interest (the "Obligation"), Pledgor hereby pledges and assigns to Lender,
    and grants to Lender a security interest in, all of Pledgor's right, title
    and interest, whether now existing or hereafter arising, in the following
    property (the "Collateral"):

                (a) all right, title and interest of Pledgor in and to _______
    shares (the "Pledged Shares") of common stock, par value $0.01 per share
    ("Common Stock"), of ClientLogic Holding Corporation presently owned or
    hereafter acquired by Pledgor;

                (b) all dividends, other distributions or other property,
    securities or instruments in respect of or in exchange for the Pledged
    Shares, whether by way of recapitalization, mergers, consolidations,
    split-ups, combinations or exchanges of shares or otherwise; and

                (c) all proceeds of the foregoing.

             3. Delivery of Pledged Shares.

                (a) In furtherance of the pledge provided for herein, concurrent
    with the execution of this Pledge Agreement, Pledgor has delivered to Lender
    each and

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    every certificate representing Pledged Shares presently owned by Pledgor,
    together with any and all documentation of such delivery that Lender may
    reasonably request.

                (b) With respect to certificates (each an "After-Acquired
    Certificate") for any Pledged Shares hereafter acquired by Pledgor from
    Lender or any third party, Pledgor shall immediately deliver, or cause to be
    delivered, to Lender each and every After-Acquircd Certificate, together
    with any and all documentation of such delivery that Lender may reasonably
    request. ClientLogic Holding Corporation shall not be obligated to deliver
    any After Acquired Certificates representing the Pledged Shares to Pledgor
    but may instead deliver such Lender.

                (c) Notwithstanding anything to the contrary herein or elsewhere
    contained, during any such time as Pledgor comes into possession of any
    certificates for Pledged Shares, such possession shall be deemed to be in
    trust for the benefit of Lender, and Pledgor shall immediately, upon coming
    into possession of any certificates for Pledged Shares, submit written
    notification to Lender of Pledger's possession of such certificates and
    shall immediately deliver, or cause to be delivered, to Lender such
    certificates, together with any and all documentation of such delivery that
    Lender may reasonably request.

             4. Representations and Warranties. Pledgor hereby represents and
    warrants as follows:

                (a) The Pledged Shares owned by Pledgor on the date hereof have
    been duly authorized and validly issued and are fully paid and
    non-assessable.

                (b) Pledgor is the legal and beneficial owner of the Pledged
    Shares, free and clear of any lien, security interest, option or other
    charge or encumbrance except for the security interest created by this
    Pledge Agreement.

                (c) The pledge of the Pledged Shares hereby does not require the
    consent of any person, and no filing or registration with, or notice to any
    governmental body is necessary for the validity, enforceability or
    perfection of such pledge.

             5. Further Assurances. Pledgor agrees that at any time and from
    time to time, at Pledgor's expense, Pledgor will promptly execute and
    deliver all further instruments and documents, and take all further action,
    that Lender may reasonably request, in order to perfect and protect any
    security interest granted or purported to be granted hereby or to enable
    Lender to exercise and enforce its rights and remedies hereunder with
    respect to the Collateral.

             6. Rights on Default.

                (a) Remedies. Upon (i) any failure by Pledgor to pay any of the
    Obligations within five (5) days of the date when due, (ii) a sale, transfer
    or other conveyance of the Collateral or (iii) a breach of this Pledge
    Agreement by the Pledgor (a "Default"), Lender may, subject to any necessary
    consent by any governmental body, exercise all rights and remedies of a
    secured party under the UCC or otherwise by law.

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    The proceeds of any sale or other disposition of Collateral shall be applied
    in accordance with the provisions of the Note.

                (b) Voting. Unless a Default has occurred and is continuing,
    Pledgor shall have and retain all right to vote the Pledged Shares which
    Pledgor owns at any given time.

             7. Miscellaneous.

                (a) Notices. All notices and communications under this Pledge
    Agreement shall be delivered in accordance with the provisions set forth in
    the Note.

                (b) Nonwaiver. No failure or delay on Lender's part in
    exercising any right hereunder shall operate as a waiver thereof or of any
    other right nor shall any single or partial exercise of any such right
    preclude any other further exercise thereof or of any other right.

                (e) Amendments and Waivers. This Pledge Agreement may not be
    amended or modified, nor may any of its terms be waived, except by written
    instruments signed by Pledgor and Lender. Each waiver or consent under any
    provision hereof shall be effective only in the specific instances for the
    purpose for which given.

                (d) Binding Effect. This Pledge Agreement shall be binding upon
    and inure to the benefit of Lender and Pledgor and their respective
    successors and assigns.

                (e) Cumulative Rights. The rights, powers and remedies of Lender
    under this Pledge Agreement shall be in addition to all rights, powers and
    remedies given to Lender by law, or in equity, all of which rights, powers,
    and remedies shall be cumulative and may be exercised successively or
    concurrently without impairing Lender's rights hereunder.

                (f) Partial Invalidity. If any time any provision of this Pledge
    Agreement is or becomes illegal, invalid or unenforceable in any respect
    under the law or any jurisdiction in any respect, neither the legality,
    validity or enforceability of the remaining provisions of this Pledge
    Agreement nor the legality, validity or enforceability of such provision
    under the law of any other jurisdiction shall in any way be affected or
    impaired thereby.

                (g) Expenses. Pledgor shall pay on demand all reasonable
    out-of-pocket fees and expenses, including reasonable attorneys' fees and
    expenses, incurred by Lender in connection with custody, preservation or
    sale of, or other realization on, any of the Pledged Shares.

                (h) APPLICABLE LAW. THIS PLEDGE AGREEMENT SHALL BE GOVERNED BY
    AND CONSTRUED IN ACCORDANCE WITH THE LAWS (BUT NOT THE RULES GOVERNING
    CONFLICTS OF LAWS) OF THE STATE OF NEW YORK.

                (i) Submission to Jurisdiction; Waivers. (i) The Pledgor hereby
    irrevocably submits for himself and his property in any legal action or
    proceeding

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    relating to this Pledge Agreement, the Note or any other document executed
    in connection herewith or therewith to the exclusive jurisdiction of the
    state courts located in the city of Buffalo, State of New York, the courts
    of the United States of America for the Western District of New York, and
    appellate courts from any thereof, Pledgor irrevocably waives, to the
    fullest extent permitted by law, any objection which it may now or hereafter
    have to the laying of venue of any suit, action or proceeding arising out of
    or relating to this Pledge Agreement or any other instruments executed in
    connection herewith brought in any such court, and hereby further
    irrevocably waives any claims that any such suit, action or proceeding
    brought in any such court has been brought in an inconvenient forum.

                (ii) The Pledgor hereby expressly and unconditionally waives, in
    connection with any suit, action or proceeding brought by the Lender on this
    Pledge Agreement, the Note or any other document executed in connection
    herewith or therewith, any and every right he may have to (i) injunctive
    relief, (ii) a trial by jury, (iii) interpose any counterclaim therein and
    (iv) have the same consolidated with any other or separate suit, action or
    proceeding.

                (j) Return of Collateral. Upon satisfaction in full of the
    Obligations, Lender shall promptly return to Pledgor the Collateral.

             IN WITNESS WHEREOF, Pledgor has caused this Pledge Agreement to be
    executed as of the day and year first above written.

                                               ------------------------------
                                               Signature of Pledgor

                                               Lee Waters
                                               ------------------------------
                                               Name of Pledgor (Please Print)

    ACKNOWLEDGED AND ACCEPTED

    CLIENTLOGIC CORPORATION

    By:
       ------------------------------
    Name:
         ------------------------------
    Title:
          ------------------------------<PAGE>   1

                                                                   EXHIBIT 10.35

                                 PROMISSORY NOTE

                                                       Buffalo, New York, U.S.A.

                AMOUNT;  FOR VALUE RECEIVED, the undersigned, Lee Waters
               INTEREST  ("BORROWER"), residing at 451 Autumn Lake Trail,
                   RATE  Franklin, TN 37067, promises to pay to the order of
                         ClientLogic Corporation (ClientLogic), a corporation
                         organized and existing under the laws of Delaware, with
                         offices at 699 Hertel Avenue, Buffalo, New York 14207,
                         the principal sum Three hundred seventy-four thousand
                         two hundred seventy dollars and fifty-seven cents
                         ($374,270.57). This note will bear interest from the
                         date hereof at the rate of eight percent (8%) per
                         annum, unless otherwise stated herein.

                PAYMENT  The principal amount of this Note shall be payable to
               SCHEDULE  ClientLogic upon the securing of a mortgage for the
                         Borrower's residence located in Nashville, Tennessee,
                         but for a period not to exceed the date of February 28,
                         2000

                DEFAULT  If any of the following events shall occur, the entire
                         unpaid outstanding principal balance or this Note
                         shall, on demand by the holder of this Note, be
                         immediately due and payable: (a) nonpayment of any sum
                         due under this Note; (b) a default under any other
                         provision of this Note; (c) a breach of any
                         representation or warranty under this Note; (d) the
                         making of any assignment for the benefit of creditors
                         by the undersigned; (e) the filing of a petition under
                         any bankruptcy, insolvency or similar law against the
                         undersigned and such petition not being dismissed
                         within a period of thirty (30) days of the filing, or
                         (f) the authorization of BORROWER for the dissolution
                         of BORROWER. Acceptance of payments of arrears or while
                         BORROWER is in default shall not waive or affect any
                         prior acceleration of this Note.

        ACCELERATION ON  In the event BORROWER is separated from employment with
                PAYMENT  the holder or this note, the outstanding balance shall
                         be immediately due and owing. The holder of this note
                         is authorized by BORROWER, upon separation from
                         employment to deduct from wages, vacation pay or any
                         other amounts due to BORROWER, the outstanding balance
                         due and owing on this note, if any.

             COLLATERAL  In addition, if any outstanding balance is due on this
                         note and BORROWER desires to exercise vested stock
                         options, BORROWER agrees to execute a stock pledge
                         agreement and stock power and deliver to holder in good
                         transferable form the full number of shares of common
                         stock which are purchased pursuant to such options
                         ("Collateral"), as continuing collateral security for
                         the payment of all indebtedness, the BORROWER agrees to
                         pledge and assign to holder, and grants to the holder a
                         lien upon and security interest in, the Collateral.

                DEFAULT  The outstanding balance of any amount owing under this
               INTEREST  Note which is not paid when due shall bear interest at
                         the rate of eighteen percent (18%) per annum.

           USURY CLAUSE  Notwithstanding any other provision of this Note,
                         interest under this Note shall not exceed the maximum
                         rate permitted by law; and if any amount is paid under
                         this Note as interest in excess of such maximum rate,
                         then the amount so paid will not constitute interest
                         but will constitute a prepayment on account of the
                         principal amount of this Note.

                    TAX  All payments under this Note shall be made without
                         defense, set-off or counterclaim, free and clear of and
                         without deduction for any taxes of any nature now or
                         hereafter imposed. Should any such payment be subject
                         to any tax, the undersigned shall pay to the holder of
                         this Note such additional amounts as may be necessary
                         to enable the holder to receive a net amount equal to
                         the full amount payable hereunder. As used in this
                         paragraph, the term "tax" means any tax, levy, impost,
                         duty, charge, fee, deduction, withholding,
                         turnover tax, stamp tax and any restriction or
                         condition resulting in a charge imposed in any
                         jurisdiction upon the payment or receipt of any amount
                         specified herein, other than taxes on the overall net
                         income of the holder under the laws of New York.

                           CONFIDENTIAL & PROPRIETARY
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               EXPENSES  The undersigned agrees to pay on demand all expenses of
                         collecting and enforcing this Note including, without
                         limitation, expenses and fees of legal counsel, court
                         costs and the cost of appellate proceedings.

         GOVERNING LAW;  This Note and the obligations of the undersigned shall
      AGENT FOR SERVICE  be governed by and construed in accordance with the
             OF PROCESS  laws of the State of New York. For purposes of any
                         proceeding involving this Note or any of the
                         obligations of the undersigned, the undersigned hereby
                         submits to the non-exclusive jurisdiction of the courts
                         of the State of New York and of the United States
                         having jurisdiction in the County of Erie State of New
                         York, and agrees not to raise and waives any objection
                         to or defense based upon the jurisdiction or venue of
                         any such court based. The undersigned agrees not to
                         bring any action or other proceeding with respect to
                         this Note, or with respect to any of its obligations,
                         in any other court unless such courts of the State of
                         New York and of the United States determine that they
                         do not have jurisdiction in the matter.

              WAIVER OF  The undersigned waives presentment for payment, demand,
       PRESENTMENT, ETC. protest and notice of protest and of non-payment and
                         any or all notices or demands in connection with the
                         delivery, acceptance, performance or default of
                         enforcement of this Note.

          DELAY; WAIVER  The failure or delay by the holder of this Note
                         exercising any of its rights hereunder in any instance
                         shall not constitute a waiver thereof in that or any
                         other instance. The holder of this Note may not waive
                         any of its rights except by an instrument in writing
                         signed by the holder.

             PREPAYMENT  The undersigned may prepay all or any portion of the
                         principal of this Note at any time and from time to
                         time without premium or penalty.

              AMENDMENT  This Note may not be amended without the written
                         approval of the holder.

    This Note may not be changed or modified orally, but only by agreement in
    writing signed by the party against whom enforcement of such change or
    termination is sought.

    BORROWER hereby knowingly, voluntarily and intentionally waives any right it
    may have to a trial by jury in respect of any litigation based hereon, or
    arising out of, under or in connection with this Note or any document
    executed in connection herewith, or any course of conduct, course of
    dealing, statements (whether written or oral) or actions of the parties.

    IN WITNESS WHEREOF, the BORROWER has duly executed this Note the day and
    year above written.

                                                     /s/ LEE WATERS
                                                    -----------------------

                                                    By: LEE WATERS

    Sworn to and subscribed before me this 12th day

    day of October, 1999.

                                       CARLEEN A. DUNNE
    /s/ CARLEEN A. DUNNE          Notary Public State of New York
    --------------------              Qualified in Erie County
    Notary Public               My Commission Expires July 26, 2001

                           CONFIDENTIAL & PROPRIETARY

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