Document:

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           AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF
                     BALENTINE DELAWARE HOLDING COMPANY, LLC

                                  EXHIBIT 10.52
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                              AMENDED AND RESTATED

                       LIMITED LIABILITY COMPANY AGREEMENT

                                       OF

                     BALENTINE DELAWARE HOLDING COMPANY, LLC
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                                TABLE OF CONTENTS

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                                                                                                             Page
<S>                                                                                                          <C>
ARTICLE 1 DEFINED TERMS....................................................................................   2

ARTICLE 2 GENERAL PROVISIONS...............................................................................  14
     Section 2.1.      Formation, Name and Continuation....................................................  14
     Section 2.2.      Term................................................................................  14
     Section 2.3.      Registered Agent and Office; Principal Place of Business............................  14
     Section 2.4.      Fiscal Year.........................................................................  15

ARTICLE 3 PURPOSE AND POWERS OF THE LLC....................................................................  15
     Section 3.1.      Purpose.............................................................................  15
     Section 3.2.      Powers of the LLC...................................................................  15

ARTICLE 4 MEMBERS..........................................................................................  15
     Section 4.1.      Voting..............................................................................  15
     Section 4.2.      Meetings of Members.................................................................  15
     Section 4.3.      Quorum..............................................................................  16
     Section 4.4.      Action by Consent...................................................................  16
     Section 4.5.      Telephonic Meetings.................................................................  16
     Section 4.6.      Non-Voting Members..................................................................  16

ARTICLE 5 MANAGERS AND OFFICERS............................................................................  16
     Section 5.1.      Managers............................................................................  16
     Section 5.2.      Designated Managers.................................................................  17
     Section 5.3.      Resignation or Removal of a Manager.................................................  17
     Section 5.4.      Vacancies...........................................................................  17
     Section 5.5.      Meetings............................................................................  17
     Section 5.6.      Quorum..............................................................................  18
     Section 5.7.      Action By Consent...................................................................  18
     Section 5.8.      Telephonic Meetings.................................................................  18
     Section 5.9.      Managers as Agents; Limitation on Power of Members..................................  18
     Section 5.10.     Duty of Managers....................................................................  18
     Section 5.11.     Approval of Annual Budget...........................................................  18
     Section 5.12.     Officers ...........................................................................  18
     Section 5.13.     Powers of the Board; Powers of Officers.............................................  19
     Section 5.14.     Reimbursement.......................................................................  21

ARTICLE 6 CAPITAL CONTRIBUTIONS, CAPITAL ACCOUNTS, DISTRIBUTIONS AND ALLOCATIONS...........................  21
     Section 6.1.      Capital Contributions...............................................................  21
     Section 6.2.      Capital Accounts....................................................................  22
     Section 6.3.      Distributions of Cash...............................................................  22
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<S>                    <C>                                                                                   <C>
     Section 6.4.      Allocations of Profits and Losses for Tax Purposes..................................  23
     Section 6.5.      Special Allocations.................................................................  24
     Section 6.6.      Allocations under Code Section 704(c)...............................................  24
     Section 6.7.      Transfer of LLC Interests...........................................................  24

ARTICLE 7 TRANSFER OF LLC INTERESTS, PUT AND CALL OPTIONS, CHANGE OF CONTROL AND ADMISSION OF
ADDITIONAL MEMBERS.........................................................................................  25
     Section 7.1.      Assignability of Interests..........................................................  25
     Section 7.2.      Put Options.........................................................................  25
     Section 7.3.      Call Options........................................................................  27
     Section 7.4.      Right of First Refusal..............................................................  31
     Section 7.5.      Change of Control...................................................................  33
     Section 7.6.      Substitute Members..................................................................  33
     Section 7.7.      Recognition of Transfer by LLC......................................................  34
     Section 7.8.      Order of Puts and Calls and Right of First Refusal..................................  34
     Section 7.9.      Indemnification.....................................................................  34
     Section 7.10.     Issuance of Additional LLC Interests................................................  34
     Section 7.11.     Assignment of Balentine's Rights and Obligations....................................  35
     Section 7.12.     Guarantee of Performance............................................................  35

ARTICLE 8 BOOKS AND RECORDS................................................................................  35
     Section 8.1.      Books, Records and Financial Statements.............................................  35
     Section 8.2.      Accounting Method...................................................................  35
     Section 8.3.      LLC's Independent Accounting Firm...................................................  36

ARTICLE 9 TAX MATTERS......................................................................................  36
     Section 9.1.      Tax Matters Member..................................................................  36
     Section 9.2.      Right to Make Tax Elections; Tax Classification.....................................  36

ARTICLE 10 LIABILITY, EXCULPATION AND INDEMNIFICATION......................................................  37
     Section 10.1.     Liability...........................................................................  37
     Section 10.2.     Exculpation.........................................................................  37
     Section 10.3.     Indemnification.....................................................................  38
     Section 10.4.     Expenses ...........................................................................  38

ARTICLE 11 NON-COMPETITION; CONFIDENTIALITY................................................................  38
     Section 11.1.     Confidential Information............................................................  38
     Section 11.2.     Non-Competition.....................................................................  40
     Section 11.3.     Non-Solicitation....................................................................  41
     Section 11.4.     Use of Performance Information......................................................  42
     Section 11.5.     Specific Performance................................................................  42

ARTICLE 12 CERTAIN COVENANTS...............................................................................  43
     Section 12.1.     Compliance with Laws; Maintenance...................................................  43
     Section 12.2.     Business Agreements.................................................................  43
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<S>                    <C>                                                                                   <C>
ARTICLE 13 DISSOLUTION, LIQUIDATION AND TERMINATION........................................................  45
     Section 13.1.     No Dissolution......................................................................  45
     Section 13.2.     Events Causing Dissolution..........................................................  45
     Section 13.3.     Notice of Dissolution...............................................................  46
     Section 13.4.     Liquidation.........................................................................  46
     Section 13.5.     Termination.........................................................................  46
     Section 13.6.     Claims of the Members...............................................................  46

ARTICLE 14 REPRESENTATIONS AND WARRANTIES..................................................................  47
     Section 14.1.     Representations and Warranties of Natural Person Principals.........................  47
     Section 14.2.     Representations and Warranties of Balentine, WTI and WTC............................  47
     Section 14.3.     Representations and Warranties of the Family Trust and the Insurance Trust..........  48
     Section 14.4.     Representations and Warranties of All Members.......................................  48

ARTICLE 15 MISCELLANEOUS...................................................................................  48
     Section 15.1.     Amendments..........................................................................  49
     Section 15.2.     Power of Attorney and Other Authorizations..........................................  49
     Section 15.3.     Notices.............................................................................  49
     Section 15.4.     Waivers.............................................................................  51
     Section 15.5.     Binding Effect......................................................................  51
     Section 15.6.     Severability........................................................................  51
     Section 15.7.     Counterparts........................................................................  52
     Section 15.8.     Governing Law.......................................................................  52
     Section 15.9.     Captions............................................................................  52
     Section 15.10.    Gender..............................................................................  52
     Section 15.11.    Third Party Beneficiaries...........................................................  52
     Section 15.12.    Remedies Cumulative.................................................................  52
     Section 15.13.    Integration.........................................................................  52
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                              AMENDED AND RESTATED
                       LIMITED LIABILITY COMPANY AGREEMENT
                                       OF
                     BALENTINE DELAWARE HOLDING COMPANY, LLC

         This Amended and Restated Limited Liability Company Agreement (the
"Agreement") of Balentine Delaware Holding Company, LLC (the "LLC") is made as
of January 2, 2002, among Balentine Holdings, Inc., a Georgia corporation
("Balentine"), WT Investments, Inc., a Delaware corporation ("WTI"), Wilmington
Trust Corporation, a Delaware corporation ("WTC"), Robert M. Balentine
("Robert"), B. Clayton Rolader ("Rolader"), Jeffrey P. Adams ("Adams"), Robert
E. Reiser, Jr. ("Reiser"), Gary B. Martin ("Martin"), Wesley A. French
("French"), Michael E. Wolf ("Wolf"), The 1999 Balentine Family Trust (the
"Family Trust") and The Robert M. Balentine Insurance Trust (the "Insurance
Trust") (Robert, Rolader, Adams, Reiser, Martin, French, Wolf, the Family Trust,
the Insurance Trust and other employees of the LLC subsequently admitted to the
LLC as members in accordance herewith hereinafter are sometimes collectively
referred to as the "Principals"). This Agreement amends and restates in its
entirety the LLC's Operating Agreement dated as of October 23, 2001 (the
"Original LLC Agreement"), executed by Balentine and, pursuant to certain
Joinder Agreements dated as of January 2, 2002, by the Principals (collectively,
the "Second LLC Agreement").

                                   BACKGROUND

         A. Immediately prior to the Merger (as hereinafter defined), the
Principals owned all of the outstanding shares of capital stock in Balentine.

         B. Immediately prior to the Merger, Balentine owned all of the issued
and outstanding shares of capital stock of Balentine & Company, a Georgia
corporation ("BC"), all of the limited liability company interests of Balentine
General Partner, LLC, a Georgia limited liability company ("GP"), and 47.2% of
the limited liability company interests in Balentine & Company of Tennessee,
L.L.C. ("BCT").

         C. The LLC has heretofore been formed as a limited liability company
under the Delaware Limited Liability Company Act, 6 Del. C.[sec][sec] 18-101 et
seq., as amended from time to time (the "Delaware Act"), by filing a Certificate
of Formation of the LLC with the Office of the Secretary of State of Delaware on
October 18, 2001 (the "Certificate").

         D. Immediately before the events described in Recital E below, BC was
converted into a Georgia limited liability company.

         E. Pursuant to a Contribution Agreement dated January 2, 2002,
Balentine, immediately before the Merger, contributed all of its assets to the
LLC (which assumed all of Balentine's liabilities) (the value of such assets net
of such liabilities being $[*] (the "Initial Capital Contribution"), in
exchange for which the LLC issued a 100% capital interest and 100% profits
interest to Balentine, and executed the Original LLC Agreement. Immediately
after the foregoing contribution and before the Merger, Balentine distributed to
the Principals, as its shareholders, an aggregate 20% profits interest and a
partially subordinated capital interest in the LLC (collectively valued at
$[*]), retaining the remaining capital interest and an 80% profits interest
therein (the "Distribution"), and the LLC and the Principals executed the
Joinder

* CONFIDENTIAL TREATMENT REQUESTED
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Agreements, constituting, together with the Original LLC Agreement, the
Second LLC Agreement.

         F. WTC Merger Subsidiary, Inc., a wholly owned subsidiary of WTC
("Merger Subsidiary"), has heretofore been formed as a corporation under the
Delaware General Corporation Law, 8 Del. C.[sec][sec] 101 et seq., by filing a
Certificate of Incorporation of Merger Subsidiary with the Office of the
Secretary of State of Delaware on October 17, 2001.

         G. Subject to the terms and conditions of the Merger Agreement dated
October 23, 2001, WTC and the Principals effected the merger of Merger
Subsidiary with and into Balentine (the "Merger"), with Balentine surviving the
Merger.

         H. Immediately following the Merger, WTC contributed all of the
outstanding shares of capital stock of Balentine to WTI.

         I. WTC is entering into this Agreement solely for the purpose of
guaranteeing the performance of Balentine hereunder pursuant to Section 7.12 and
committing to the undertakings in Section 12.2.

         J. The parties desire to amend and restate the Original LLC Agreement
in its entirety and to operate the LLC as a limited liability company under the
Delaware Act on the terms and conditions herein.

         NOW, THEREFORE, in consideration of the foregoing, the mutual covenants
contained herein and other good and valuable consideration, the receipt and
sufficiency of which hereby are acknowledged, the parties hereto, intending to
be legally bound hereby, agree as follows:

                                    ARTICLE 1
                                  DEFINED TERMS

         Unless the context otherwise requires, the terms defined in this
Article 1 shall, for the purposes hereof, have the following meanings:

         a.    "Accounting Period" means each Fiscal Year and each other
period (1) beginning on the first Business Day following a Business Day on which
a Member (i) is admitted to the LLC, (ii) completely withdraws from the LLC,
(iii) makes a capital contribution to the LLC, (iv) withdraws a portion of its
Capital Account balance, or (v) increases or decreases his or her Membership
Points and (2) ending on the earliest thereafter to occur of December 31 or a
Business Day on which any of the events in clauses (i)-(v) above occurs.

         b.    "Affiliate" means, with respect to any Person: (1) any other
Person directly or indirectly owning, controlling or holding with the power to
vote 25% or more of the outstanding voting securities of that Person; (2) any
Person directly or indirectly controlling,

                                     -2-
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controlled by or under common control with that Person; (3) any officer,
director or partner of that Person; and (4) if the Person is an officer,
director or partner, any company for which that Person acts in that capacity.
The term "control" means the possession, directly or indirectly, of the power,
whether or not exercised, to direct or cause the direction or management or
policies of any Person, whether through ownership of voting securities or
otherwise.

         c.    "Balentine Entities" means the LLC, BC, GP, and BCT and any
Subsidiary (present or future), and the term "Balentine Entity" shall mean any
one of the foregoing Balentine Entities.

         d.    "Base Run Rate" means $[*].

         e.    "Base Valuation" means the Base Run Rate multiplied by [*],
or [*].

         f.    "BCT" means Balentine & Company of Tennessee, L.L.C., a Tennessee
limited liability company.

         g.    "BCT Agreement" means the agreement dated January 2, 2002 between
WTC and the non-Balentine members of BCT with respect to their right to put
their limited liability company interests in BCT to WTC.

         h.    "Board" means the LLC's Board of Managers selected in accordance
with, and with the power and authority set forth in, Article 5.

         i.    "Business Day" means a day WTC is open for business.

         j.    "Call" has the meaning assigned to such term in Section 7.3(a).

         k.    "Call Notice" has the meaning assigned to such term in Section
7.3(a).

         l.    "Capital Account" means, with respect to any Member, the Capital
Account established and maintained for that Member on the LLC's books in
accordance with Section 1.704-1(b)(2)(iv) of the Treasury Regulations.

         m.    "Capital Deduction Amount" means, with respect to the aggregate
LLC Interests and associated Membership Points issued on the date hereof to the
Principals, $4,418,000; and with respect to LLC Interests and associated
Membership Points issued subsequently, an amount determined by the Board.

         n.    "Carrying Value" means, with respect to any asset, the asset's
adjusted basis for federal income tax purposes, except as follows:

               (1) The initial Carrying Value of an asset a Member contributes
         to the LLC shall be the Fair Market Value of that asset, as determined
         by the contributing Member and the Board;

* CONFIDENTIAL TREATMENT REQUESTED

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               (2) The Carrying Value of all of the LLC's assets shall be
         adjusted to equal their respective Fair Market Values, as determined by
         the Board, as of the following times: (a) the acquisition of an
         additional LLC Interest by any new or existing Member in exchange for a
         capital contribution; (b) the distribution by the LLC to a Member of
         property as consideration for an LLC Interest; and (c) the liquidation
         of the LLC within the meaning of Section 1.704-(b)(2)(ii)(g) of the
         Treasury Regulations; provided that adjustments pursuant to clauses (a)
         and (b) above shall be made only if the Board reasonably determines
         that those adjustments are necessary or appropriate to reflect the
         relative economic interests of the Members in the LLC;

               (3) The Carrying Value of any asset the LLC distributes to any
         Member shall be the Fair Market Value of that asset on the date of
         distribution; and

               (4) The Carrying Value of the LLC's assets shall be increased or
         decreased to reflect any adjustments to the adjusted bases of those
         assets pursuant to Code Section 734(b) or Code Section 743(b), but only
         (a) if an election under Code Section 754 is in effect and (b) to the
         extent those adjustments are taken into account in determining Capital
         Accounts pursuant to Section 1.704-1(b)(2)(iv)(m) of the Treasury
         Regulations; provided that Carrying Values shall not be adjusted
         pursuant to this clause (4) to the extent the Board determines that an
         adjustment pursuant to clause (2) hereof is necessary or appropriate in
         connection with a transaction that would otherwise result in an
         adjustment pursuant to this clause (4). If the Carrying Value of an
         asset has been determined or adjusted pursuant to clause (1), (2) or
         (4) hereof, that Carrying Value shall thereafter be adjusted by the
         Depreciation taken into account with respect to those assets for
         purposes of computing Profits and Losses.

               o.    "Cause," with respect to a Person, means:

               (1) A breach (other than one that is inadvertent) of any
         provision of Article 11 hereof, provided that such Person has received
         notice of such breach by the Board and, if curable, has been given the
         opportunity to cure such breach and has not cured it within five days
         of receiving notice;

               (2) The willful and continued failure of a Person to perform
         substantially such Person's duties with the LLC (other than any such
         failure resulting from incapacity due to physical or mental illness),
         for a period of five days after a written demand for substantial
         performance is delivered to such Person by the Board which specifically
         identifies the manner in which the Board believes that such Person has
         not substantially performed such Person's duties;

               (3) The engaging by a Person in illegal conduct, dishonest
         conduct, conduct that is a breach of such Person's fiduciary duty, or
         gross misconduct, in each instance where the conduct or misconduct is
         materially injurious to the LLC or one of its Subsidiaries; or

                                     -4-
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               (4) Any disqualification, suspension or revocation of any
         applicable registration or license of a Person as a result of a final,
         non-appealable proceeding by the U.S. Securities and Exchange
         Commission, any state securities commission, or any self-regulatory
         authority or court with jurisdiction over the LLC that would materially
         limit (a) the performance of any duties by such Person or (b) the
         ability of the LLC or any of its Affiliates to perform its business or
         contemplated business.

         Within ten business days after a Person's termination for Cause, there
shall be delivered to such Person a copy of a resolution duly adopted by the
affirmative vote of a majority of all of the members of the Board at a meeting
of the Board called and held for such purpose, finding that, in the good faith
opinion of the Board, such Person is guilty of the conduct described in
subparagraph (1), (2) or (3) above, and specifying the particulars thereof in
detail.

         p.    "Change of Control" means (1) the acquisition by any Person or
group of Persons of beneficial ownership (as that term is defined in Rule 13d-3
promulgated under the Exchange Act), directly or indirectly, of 25% or more of
the outstanding capital stock of WTI or its parent, WTC, entitled to vote for
the election of directors ("WTC Voting Shares"); (2) the acquisition by any
Person or any group of Persons (other than WTC, WTI or any of their Affiliates)
of 50% or more of the Membership Points in the LLC owned by WTC, WTI or any of
their Affiliates immediately prior to such acquisition; (3) the merger or
consolidation of WTI or WTC with one or more other Persons as a result of which
the holders of the outstanding WTC Voting Shares of WTI or WTC, as the case may
be, immediately before the merger or consolidation hold less than 50% of the WTC
Voting Shares of the surviving or resulting Person; (4) the merger or
consolidation of the LLC with one or more other Persons (other than WTI, WTC or
one of more of their Affiliates) as a result of which the holders of the
outstanding Membership Points immediately before the merger or consolidation
hold less than 50% of the total outstanding Membership Points (or equivalent) of
the surviving or resulting Person; (5) the transfer of all or substantially all
of WTI's, WTC's or the LLC's assets, other than to an Affiliate of WTI or WTC;
or (6) a proxy contest for the election of directors of WTC that results in
Persons constituting the Board of Directors of WTC immediately before the
initiation of that proxy contest ceasing to be a majority of the Board of
Directors of WTC upon the conclusion of that proxy contest; provided that
neither (x) any transfer of the capital stock or assets of WTI or WTC to, or the
merger or consolidation of WTI or WTC with or into, (A) an entity that both
prior to and also after that transfer, merger or consolidation had been and will
be consolidated with WTI or WTC for federal income tax purposes or (B) any newly
formed, wholly owned subsidiary of WTI or WTC that will be consolidated with WTI
or WTC for federal income tax purposes, nor (y) a transfer of LLC Interests by
one or more Principals to one or more Permitted Transferees shall be deemed to
be a Change of Control for purposes hereof. For the avoidance of doubt, the
acquisition of 50% of the voting equity of any Affiliate of WTC (other than by
WTC, WTI or any of their Affiliates) that has any direct or indirect ownership
of the LLC shall be deemed to be an indirect acquisition of the Membership
Points (or equivalent) of the LLC.

         q.    "Client" means, at any time, any Person who is at that time a
customer or client of the LLC or a Subsidiary (either directly or by
participating as a partner, member,

                                     -5-
<PAGE>
shareholder or other equity holder of an Existing Fund or an investment
vehicle to which the LLC or a Subsidiary provides investment advice or
investment management or administrative services).

         r.    "Closing" has the meaning assigned to it in the Merger Agreement.

         s.    "Code" means the Internal Revenue Code of 1986, as amended from
time to time, or any corresponding federal tax statute enacted hereafter. A
reference to a specific section of the Code refers to that section as well as
any corresponding provision of any federal tax statute enacted hereafter, as
that section is in effect on the date of application of the provisions hereof
containing that reference.

         t.    "Compensation Plan" means, with respect to each Principal, the
compensation plan set forth on Schedule 1 to the Employment Agreement of such
Principal dated as of the date hereof.

         u.    "Confidential Information" has the meaning assigned to such term
in Section 11.1(b).

         v.    "Depreciation" means, for each Fiscal Year or other period, an
amount equal to the depreciation, amortization or other cost recovery deduction
allowable with respect to an asset for that Fiscal Year or other period, except
that, if the Carrying Value of an asset differs from its adjusted basis for
federal income tax purposes at the beginning of that Fiscal Year or other
period, Depreciation shall be an amount that bears the same ratio to that
beginning Carrying Value as the federal income tax depreciation, amortization or
other cost recovery deduction for that Fiscal Year or other period bears to that
beginning adjusted tax basis; provided that, if the federal income tax
depreciation, amortization or other cost recovery deduction for that year is
zero, Depreciation shall be determined with reference to that beginning Carrying
Value using any reasonable method the Board selects.

         w.    "Disability" has the meaning set forth in a policy or policies of
disability insurance, if any, the LLC obtains for the benefit of itself and/or
its employees. If there is no definition of "disability" applicable under any
such policy or policies, then a Person shall be considered "Disabled" upon the
first to occur of: (1) such Person's being adjudged incompetent by a court of
competent jurisdiction; (2) such Person's being determined to be physically or
mentally incapable of performing the essential functions of his job for a period
of 180 days in any 12-month period, in the opinion of a licensed medical doctor
acceptable to the LLC; or (3) such Person's being certified as permanently
disabled under the provisions of the Social Security Act, as amended from time
to time.

         x.    "Election Period" has the meaning assigned to such term in
Section 7.4(a).

         y.    "Employment Agreement" means an employment agreement between the
LLC and a Principal (other than the Family Trust or the Insurance Trust) as in
effect from time to time.

                                     -6-
<PAGE>
         z.    "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

         aa.   "Existing Debt" means the existing indebtedness of certain of the
Principals to Colonial Bank for leasehold improvements for Balentine in the
current principal amount of $[*] with the final scheduled installment due April
2008.

         bb.   "Existing Fund" means any one of Balentine U.S. Small Cap Equity
Fund, L.P., Balentine U.S. Small Cap Equity Fund Select, L.P., Balentine U.S.
Mid Cap Equity Fund, L.P., Balentine U.S. Mid Cap Equity Fund Select, L.P.,
Balentine U.S. Large Cap Equity Fund, L.P., Balentine U.S. Large Cap Equity Fund
Select, L.P., Balentine International Equity Fund, L.P., Balentine International
Equity Fund Select, L.P., Balentine Hedge Fund, L.P., Balentine Hedge Fund
Select, L.P. and/or Griffin Arbitrage, L.P., and "Existing Funds" means all of
such funds collectively.

         cc.   "Fair Market Value" means the amount for which an asset could be
sold in an arms'-length transaction by one who desires to sell, but is not under
any urgent requirement to sell, to a buyer who desires to buy, but is under no
urgent necessity to buy, when both have a reasonable knowledge of the facts.

         dd.   "Family" means any member of a Person's immediate family, as
defined in Rule 16a-1 of the Exchange Act, and all aunts, uncles, nieces,
nephews and first and second cousins of that Person.

         ee.   "Final Election Period" has the meaning assigned to such term in
Section 7.4(a).

         ff.   "First Refusal Notice" has the meaning assigned to such term in
Section 7.2(d).

         gg.   "Fiscal Year" has the meaning assigned to such term in Section
2.4.

         hh.   "Free Cash Flow" means, for any Accounting Period, (1) the
Profits (determined without deduction of any Depreciation) for such period,
excluding Profits resulting from or in connection with any Realization Event,
plus (2) all principal repayments that the LLC or its Subsidiaries received
during such period on the aggregate debt (including any Stockholder Notes) owed
thereto as of the date hereof by certain Principals, unless otherwise consented
to in writing by the Principals holding a majority of the Principals' Membership
Points, less (3) all distributions during such period pursuant to Section
6.3(b). In no event shall Free Cash Flow for any Accounting Period be less than
the LLC's consolidated revenues for such period (excluding cash generated by or
in connection with any Realization Event) plus cash previously set aside as
reserves for contingencies, working capital, debt service, taxes, insurance
and/or other costs and expenses in connection with the LLC's business that the
Board reasonably determines in good faith is no longer needed for the LLC's
business, less the sum of (A) all cash expenditures the LLC made during such
period (including operating expenses, principal and interest payments on

* CONFIDENTIAL TREATMENT REQUESTED

                                     -7-
<PAGE>
any indebtedness of the LLC and lease payments on capitalized leases) and (B)
funds the Board has reasonably determined in good faith to set aside during such
period as such reserves.

         ii.   "GAAP" means U.S. generally accepted accounting principles
consistently applied with prior periods.

         jj.   "Good Reason" means, with respect to any Principal employed by
the LLC:

               (1) a reduction by the LLC in such Principal's salary as the
         foregoing is in effect on the date hereof or as the same may be
         increased from time to time;

               (2) a material adverse change in, or the failure by the LLC to
         continue in effect, any compensation plan (other than salary) in which
         such Principal participates unless an equitable arrangement (embodied
         in an ongoing substitute or alternative plan) has been made with
         respect to such plan;

               (3) the LLC's requiring such Principal, without his consent, to
         be based at any office or location other than in the Atlanta, Georgia
         Metropolitan Statistical Area, or, if such Principal was employed by BC
         immediately prior to the date hereof, to travel primarily for purposes
         unrelated to developing or maintaining new or existing business
         relationships for the LLC and/or its Subsidiaries to a substantially
         greater extent than required immediately prior to the date hereof;

               (4) without the written consent of a Person, the assignment to
         such Person of duties inconsistent in any material respect with such
         Person's position, authority, duties or responsibilities as in effect
         on the effective date of such Person's employment by the LLC, or any
         other action by the LLC, which assignment, in each instance, results in
         a material diminution in such position, authority, duties or
         responsibilities; or

               (5) the material breach by the LLC of any provision of such
         Principal's Employment Agreement.

         Good Reason shall not include a Principal's death or Disability. Such
Person's continued employment shall not constitute consent to, or a waiver of
rights with respect to, any circumstance constituting Good Reason hereunder. The
LLC shall have an opportunity to cure any claimed event of Good Reason within 30
days of notice from the Principal.

         kk.   "Liquidating Trustee" has the meaning assigned to such term in
Section 13.3.

         ll.   "LLC Interest" means a beneficial interest in the LLC, consisting
of an interest in Profits (i.e., an interest representing a claim to a portion
of (a) Profits earned by the LLC after issuance of such LLC Interest, (b) Free
Cash Flow thereafter, and (c) under certain circumstances, distributions on the
LLC's liquidation, all based on the interestholder's

                                     -8-
<PAGE>
Membership Points) and in the LLC's capital (reflected by the interestholder's
Capital Account balance).

         mm.   "LLC Value" means the Valuation for the last completed Fiscal
Year prior to the event giving rise to the calculation of LLC Value.

         nn.   "Majority Vote" means (i) with respect to the Members, the
written approval of, or the affirmative vote by, a majority in interest of the
Members determined with reference to their Membership Points set forth on
Schedule 1 hereto, and (ii) with respect to the Principals, the written approval
of, or the affirmative vote by, a majority in interest of the Principals
determined with reference to their Membership Points there set forth. For
purposes of determining a Majority Vote, Membership Points owned by Non-Voting
Members are not voted and are not counted in the calculation of the total
Membership Points outstanding or the Membership Points held by the Principals
for purposes of such vote.

         oo.   "Manager" means a member of the Board.

         pp.   "Members" means the Principals, their Permitted Transferees,
Balentine, its Permitted Transferees, and any additional Persons admitted as
Members pursuant to Section 7.6.

         qq.   "Membership Points" means, as of any date, with respect to a
Member, the number of Membership Points set forth opposite that Member's name on
Schedule 1 hereto, as adjusted from time to time pursuant hereto and as in
effect on that date.

         rr.   "Merger Agreement" means the Merger Agreement dated October ____,
2001 among Balentine, the Principals, Merger Subsidiary, WTI and WTC, as it may
from time to time be amended.

         ss.   "Metropolitan Statistical Area" of a city means such city's
metropolitan statistical area as defined by the United States Office of
Management and Budget.

         tt.   "New Business Opportunity" means any opportunity to provide
wealth management services that are provided by the LLC or its Subsidiaries as
of the date hereof, including, but not limited to, (1) opening a new office of
the LLC, (2) hiring or "lifting out" from another business one or more
professional employees involving an initial signing bonus or comparable payment
of $250,000 or more, or (3) acquiring a business that at the time of acquisition
is engaged in investment management or investment advisory activities that the
LLC performs at that time; provided, however, that the Principals may, by
Majority Vote, determine that an opportunity is not a New Business Opportunity.

         uu.   "Non-Voting Member" means a Member owning an LLC Interest but,
pursuant to Section 4.6, not having the right to vote his or its Membership
Points.

         vv.   "Note" has the meaning assigned to such term in Section 7.3(c).

                                     -9-
<PAGE>
         ww.   "Offer" has the meaning assigned to such term in Section 7.4(a).

         xx.   "Offered Membership Points" has the meaning assigned to such term
in Section 7.4(a).

         yy.   "Offer Notice" has the meaning assigned to such term in Section
7.4(a).

         zz.   "Officer" has the meaning assigned to such term in Section 5.12.

         aaa.   "Other Principals" has the meaning assigned to such term in
Section 7.2(b).

         bbb.  "Permitted Transferee" means WTI and any other Person
consolidated with WTI for federal income tax purposes and, with respect to any
natural person, the parents, siblings, spouse, children (by birth or adoption)
or spouses of children of that person (in any such case who are age 21 or over)
and any trust, partnership, limited partnership, limited liability partnership
or limited liability company created by or for one or more of the aforementioned
individuals (including those who are under age 21) of which a Principal is the
voting trustee, general partner, managing member or otherwise possesses the
power to vote the LLC Interest held by that entity.

         ccc.  "Person" means any individual, partnership, limited liability
company, corporation, association, trust, joint venture or governmental,
business or other entity.

         ddd.   "Principals' Representative" has the meaning assigned to such
term in Section 15.2(b).

         eee.  "Principals' Representative Agreement" has the meaning assigned
to such term in Section 15.2(b).

         fff.  "Profits" and "Losses," for each Fiscal Year or Accounting
Period, mean an amount equal to the LLC's taxable income or loss, respectively,
for that year or period, determined in accordance with Code Section 703(a) (for
this purpose, all items of income, gain, loss or deduction required to be stated
separately pursuant to Code Section 703(a)(1) shall be included in taxable
income or loss), but computed with the following adjustments:

               (1) Any income of the LLC exempt from federal income tax and not
         otherwise taken into account in computing Profits or Losses shall be
         added to that taxable income or loss;

               (2) Any expenditures of the LLC described in Code Section
         705(a)(2)(B) or treated as such expenditures pursuant to Section
         1.704-1(b)(2)(iv)(i) of the Treasury Regulations, and not otherwise
         taken into account in computing Profits and Losses, shall be subtracted
         from that taxable income or loss;

                                     -10-
<PAGE>
               (3) Gain or loss resulting from any disposition of property with
         respect to which gain or loss is recognized for federal income tax
         purposes shall be computed by reference to the Carrying Value of that
         property, notwithstanding that its adjusted tax basis differs from its
         Carrying Value;

               (4) In lieu of depreciation, amortization and other cost recovery
         deductions otherwise taken into account in computing taxable income or
         loss, there shall be taken into account Depreciation; and

               (5) Notwithstanding any other provisions of this definition, any
         items that are specially allocated pursuant to Section 6.5 or that
         result from an adjustment to basis of one or more Members pursuant to
         Code Section 734(b) or 743(b) shall not be taken into account in
         computing Profits or Losses.

         ggg.  "Purchase Closing Date" means the date upon which LLC Interests
are purchased and paid for pursuant to Article 7 hereof.

         hhh.  "Purchase Price" means, in the case of a purchase of an LLC
Interest from a Principal or his or its Permitted Transferees, an amount equal
to (a) the LLC Value less the Base Valuation, multiplied by (b) a fraction, the
numerator of which is the number of Membership Points associated with the LLC
Interest to be purchased and the denominator of which is the number of all
Membership Points outstanding on the related Purchase Closing Date. The Purchase
Price shall be calculated by using the LLC Value as of the end of the Fiscal
Year immediately prior to the exercise of the Put or the event giving rise to
the Call.

         iii.  "Purchaser" has the meaning assigned to such term in Section
7.4(c).

         jjj.  "Put" has the meaning assigned to such term in Section 7.2(b).

         kkk.  "Put Notice" has the meaning assigned to such term in Section
7.2(d).

         lll.  "Realization Event" means (1) any sale of all or substantially
all of the LLC's assets, (2) any merger or consolidation of the LLC with or into
another entity or, unless otherwise approved by the Board, of another entity
with or into the LLC or (3) any dissolution or winding up of the LLC. A
"Realization Event" shall not include a merger of GP into or with BC or the
transfer of GP's assets to BC.

         mmm.  "Remaining Principals" has the meaning assigned to such term in
Section 7.4(a).

         nnn.  "Restricted Area" has the meaning assigned to such term in
Section 11.2.

         ooo.  "Restricted Period" has the meaning assigned to such term in
Section 11.2.

                                     -11-
<PAGE>
         ppp.  "Retirement" with respect to a natural person Principal means
when that Principal reaches age 65; provided that Retirement shall not occur
with respect to a Principal who continues to work for the LLC after reaching age
65 unless the Board notifies him that it objects to his continued participation
in the LLC. Retirement with respect to a Principal who continues to participate
in the LLC after reaching that age shall occur upon the earlier of (1)
notification from the Board that it objects to that Principal's continued
participation or (2) the voluntary cessation of the Principal's employment by
the LLC.

         qqq.  "Run Rate" means the LLC's consolidated annual net earnings
before interest, taxes, depreciation and amortization, determined for each
Fiscal Year in accordance with GAAP and the accounting principles and practices
historically used by Balentine in preparing Balentine's financial statements,
provided that (1) in every event only costs directly attributable to the LLC's
operations will be included in calculating the Run Rate, (2) expenses of a New
Business Opportunity will not be included in calculating the Run Rate until 24
months after expenses are first incurred for that New Business Opportunity, (3)
in preparing the LLC's consolidated annual net earnings before interest, taxes,
depreciation and amortization for a Fiscal Year, the LLC will be deemed to own
its proportionate share of BCT's annual net earnings before interest, taxes,
depreciation and amortization for that year based on the LLC's proportionate
ownership of BCT during that year calculated as though any outstanding
unexercised options or rights to purchase securities of BCT have not been
exercised, (4) the LLC's revenues shall exclude any rent (but not expense
reimbursements) received pursuant to the second sentence of Section 12.2(b)(4),
and (5) extraordinary, non-recurring items of revenue and expense will be
excluded. The Run Rate will be calculated by reference to the LLC's financial
statements prepared in accordance with GAAP and separately audited by an
independent accounting firm selected by the Principals and acceptable to WTI,
which acceptance will not be unreasonably withheld, and such other books and
records as are sufficient to identify the items in clauses (1) through (5). Such
direct costs referred to above do not include the costs of support services
generally available from WTC but do include the cost of the benefits described
in Section 12.2(b)(7). The costs associated with opening and operating the trust
and/or banking office described in Section 12.2(b)(4) will not be included in
computing the Run Rate.

         rrr.  "Stockholder Notes" has the meaning assigned to such term in the
Merger Agreement.

         sss.  "Subsidiary" means any Person of which (1) more than 25% of
either the equity interests or the voting control is, directly or indirectly,
through Subsidiaries or otherwise, beneficially owned by such Person or (2) the
LLC or any such Person either serves as the general partner or managing member.

         ttt.  "Tax Matters Member" has the meaning assigned to such term in
Section 9.1(a).

         uuu.  "Term," with respect to a Principal, has the meaning assigned to
such term under such Principal's Employment Agreement.

                                     -12-
<PAGE>
         vvv.  "Transfer" has the meaning assigned to such term in Section
7.1(a).

         www.  "Treasury Regulations" means the income tax regulations,
including temporary regulations, promulgated under the Code, as those
regulations may be amended from time to time (including corresponding provisions
of succeeding regulations).

         xxx.  "Trust" has the meaning assigned to such term in Section 14.3.

         yyy.  "Valuation" means, for determinations for events occurring in
Fiscal Years 2001 and 2002, the Base Valuation and, for determinations for
events occurring in each Fiscal Year thereafter, the LLC's Run Rate in the last
full Fiscal Year preceding the year in which the valuation is used multiplied by
a factor determined by reference to the annual compound growth in the Run Rate
to the end of the Fiscal Year used to compute the Run Rate calculated from
January 1, 2003 and thereafter in accordance with the following schedule:

<TABLE>
<CAPTION>
Annual Compound Growth                       Multiple
<S>                                          <C>
Below [*]%                                   [*]times
[*]%                                         [*]times
[*]%                                         [*]times
[*]%                                         [*]times
[*]%                                         [*]times
Over [*]%                                    [*]times
</TABLE>

Annual compound growth in the Run Rate between [*]% and [*]% shall be
interpolated proportionately. The initial value used for the calculation of the
compound growth rate that will determine the earn out payment multiple will be
the Base Run Rate. The initial computation of the annual compound growth rate
for 2002 shall be determined by dividing the Base Run Rate into the Run Rate for
Fiscal Year 2002, subtracting one from the result and converting that result
into a percentage. For example, if the Base Run Rate were 2000 and the Run Rate
for 2002 were 2400, the annual compound growth for 2002 would be 20% and the
multiple for 2002 would be [*]. The annual compound growth rate for subsequent
years would be determined on a compound basis beginning with Fiscal Year 2003.
Attached as Schedule 3 are further examples of computations related to
Valuation.

         zzz.  "Voting Members" means all Members, other than Non-Voting
Members.

         aaaa. "WTC" means Wilmington Trust Corporation, a Delaware corporation,
and its successors.

         bbbb. "WTC Change of Control Purchase Price" means an amount equal to
the sum of (1) the LLC Value multiplied by a fraction, the numerator of which is
the number of Membership Points held by Balentine, WTI, WTC and their Permitted
Transferees and the denominator of which is the number of Membership Points
outstanding on the Purchase Closing Date, plus (2)

* CONFIDENTIAL TREATMENT REQUESTED

                                     -13-
<PAGE>
the Capital Deduction Amount multiplied by a fraction, the numerator of which
is the number of Membership Points held by the Principals and their Permitted
Transferees on the Purchase Closing Date and the denominator of which is the
number of Membership Points held by the Principals and their Permitted
Transferees on the date hereof, less (3) what the Principals who exercise their
right under Section 7.5(b) would have received under Sections 3.1(c) and (d) of
the Merger Agreement had only such Persons elected to receive an accelerated
payment under such sections. The WTC Change of Control Purchase Price shall be
calculated by using the LLC Value as of the end of the year immediately prior
to the exercise of the rights described in Section 7.5(b).

         cccc. "WTI" means WT Investments, Inc., a Delaware corporation, and its
successors.

         dddd. "WTI Clients" means investment management, custody and personal
trust clients of WTI or any of its Affiliates. For this purpose, the LLC and its
Subsidiaries are not considered to be Affiliates of WTI.

                                   ARTICLE 2
                               GENERAL PROVISIONS

         Section 2.1. Formation, Name and Continuation. The name of the LLC is
"Balentine Delaware Holding Company, LLC." The LLC's business will be conducted
with reference to its affiliation with WTC as the Board designates from time to
time and may be conducted under any other name or names the Board designates
from time to time. The parties hereto enter into this Agreement pursuant to the
provisions of the Delaware Act and for the purposes described herein. The rights
and liabilities of the Members shall be as provided in the Delaware Act for
members, except as provided herein. The name, mailing address, initial capital
contribution and Membership Points of each Member shall be listed on Schedule 1
hereto. The LLC's Secretary shall update any schedule from time to time
necessary to reflect accurately the information therein. Any amendment or
revision to a schedule made in accordance with this Agreement shall not be
deemed an amendment hereto. Any reference in this Agreement to a "schedule"
shall be deemed to be a reference to a schedule hereto as amended and in effect
from time to time, unless expressly noted otherwise.

         Section 2.2. Term. The term of the LLC commenced on the date the
Certificate was filed in the office of the Secretary of State of Delaware and
shall continue in perpetuity, unless dissolved in accordance with the provisions
hereof. The existence of the LLC as a separate legal entity shall continue until
the Certificate's cancellation.

         Section 2.3. Registered Agent and Office; Principal Place of Business.

         a.    The LLC's registered agent and office in Delaware shall be WTI,
Rodney Square North, 1100 North Market Street, New Castle County, Delaware
19890. The Board may at any time designate another registered agent and/or
registered office.

                                     -14-
<PAGE>
         b.    The LLC's principal place of business initially shall be at 3455
Peachtree Road, Suite 2000, Atlanta, Georgia 30326.

         c.    The Board may, at any time and from time to time: (1) subject to
Section 5.13(d), change the location of the LLC's principal place of business
and establish an additional place or places of business of the LLC as it may
determine; (2) change the location of the LLC's books and records; (3) change
the LLC's registered office in Delaware; and (4) change the LLC's resident agent
for service of process in Delaware.

         Section 2.4. Fiscal Year. Except as the Board determines otherwise, the
LLC's fiscal year for accounting purposes and taxable year ("Fiscal Year") shall
be the calendar year, except for the short year in the years of the LLC's
formation and termination and as otherwise required by the Code.

                                   ARTICLE 3
                          PURPOSE AND POWERS OF THE LLC

         Section 3.1. Purpose. The LLC is formed for the purpose of engaging in
any lawful act or activity for which limited liability companies may be formed
under the Delaware Act and engaging in any and all activities necessary or
incidental to the foregoing; provided that the LLC is not formed for the purpose
of and shall not engage in any business that would be impermissible for WTI or
any of its Affiliates under federal or state banking law, as those laws may be
amended from time to time.

         Section 3.2. Powers of the LLC. The LLC shall have all power and
authority granted under the Delaware Act to take all actions necessary,
appropriate, proper, advisable, incidental or convenient to or for the
furtherance of the purpose set forth in Section 3.1.

                                   ARTICLE 4
                                    MEMBERS

         Section 4.1. Voting. Members shall have the power to vote only as
provided by this Article 4 and as required by law. Unless otherwise provided in
this Agreement or by law, any vote of Members shall be determined by a Majority
Vote.

         Section 4.2. Meetings of Members. The Board or its Chairman may call a
meeting of Voting Members. Meetings of Voting Members shall be held at the LLC's
principal place of business upon at least 10 days' written notice to all Voting
Members. The notice shall state the purpose or purposes of the meeting with
reasonable particularity and shall contain a description of the items to be
acted upon.

                                     -15-
<PAGE>
         Section 4.3. Quorum. At any meeting of Voting Members, the presence of
Members owning LLC Interests representing a majority of the Membership Points,
other than LLC Interests representing Membership Points owned by Non-Voting
Members, shall constitute a quorum. Any meeting may be adjourned from time to
time by Voting Members holding a majority of the votes present at the meeting,
whether or not a quorum is present, and the meeting may be held as adjourned
upon at least 10 days' written notice to all Voting Members.

         Section 4.4. Action by Consent. Any action of Voting Members may be
taken without a meeting if the Voting Members required to consent to the action
to be taken, if the action had been taken at a meeting of Voting Members,
consent to the action in writing and the Board and all Members are given at
least five days' prior written notice of the proposed action. The written
consents shall be filed with the records of the Members' meetings. Those actions
by consent shall be treated for all purposes as actions taken at a meeting.

         Section 4.5. Telephonic Meetings. Voting Members may participate in a
meeting of Voting Members by means of a conference telephone or similar
communications equipment if all Voting Members participating in the meeting can
hear each other at the same time. Participation by such means shall constitute
presence in person at a meeting.

         Section 4.6. Non-Voting Members. Any Member shall become a Non-Voting
Member until his LLC Interest has been purchased in full in accordance with
Article 7 if such Member (a) is terminated from employment with the LLC for
Cause, (b) voluntarily resigns from employment with the LLC without Good Reason,
(c) is a Member during the periods described in Sections 7.2(e) and 7.3(d), or
(d) is so determined by the Board to be a Non-Voting Member by reason of Cause.
The estate or other successor of any Member that dies, dissolves or otherwise
ceases to exist shall become a Non-Voting Member until his or its LLC Interest
has been purchased in full in accordance with Article 7. The Board may, in its
discretion, waive this provision. In accordance with Section 7.6, the Board may
admit a substitute Member as a Non-Voting Member. Non-Voting Members do not have
the right to receive notice of meetings of Voting Members or to participate in
those meetings.

                                   ARTICLE 5
                              MANAGERS AND OFFICERS

         Section 5.1. Managers. The management of the LLC's business shall be
vested in the Board, which shall consist of five Managers, all of whom must be
Voting Members or employees, officers or directors of Voting Members (or of WTC
or one of its Affiliates in the case of Balentine). Unless otherwise specified
herein, the Board shall act by majority vote of those Managers present at a
meeting at which a quorum is present, with each Manager on the Board present
having one vote.

                                     -16-
<PAGE>
         Section 5.2. Designated Managers.

         a.    Until March 31, 2006, the Principals shall be entitled to
designate or redesignate three of the five Managers (or at least 60% of the
Managers if the number of Managers is adjusted) by Majority Vote of the
Principals. After March 31, 2006 and provided that they own LLC Interests with
an aggregate of at least 3% of the then outstanding Membership Points, the
Principals shall be entitled to designate or redesignate one of the five
Managers by Majority Vote of the Principals (or at least 20% of the Managers if
the number of Managers is adjusted) by written notice to the Board of their
designee.

         b.    Until March 31, 2006, Balentine, WTC and their Affiliates shall
be entitled to appoint two of the five Managers (or no more than 40% of the
Managers if the number of Managers is adjusted) by written notice to the Board
of their designees. After March 31, 2006, Balentine, WTC and their Affiliates
shall be entitled to appoint four of the five Managers (or at least 80% of the
Managers if the number of Managers is adjusted) by written notice to the Board
of their designees.

         c.    The initial Managers of the LLC shall be Robert, Rolader and
Adams, who shall be deemed designated by the Principals pursuant to Section
5.2(a), and Ted T. Cecala and Rodney P. Wood, who shall be deemed designated by
Balentine, WTC and their Affiliates pursuant to Section 5.2(b). A Manager shall
hold office until the Manager resigns, Retires, dies or is removed.

         Section 5.3. Resignation or Removal of a Manager.

         a.    Any Manager may resign by delivering to the LLC a signed notice
indicating his intent to resign and the effective date of his resignation.

         b.    The Board by Majority Vote may remove any Manager (1) for Cause
or (2) if the Manager becomes subject to a Disability. A Manager shall be
automatically removed if he becomes a Non-Voting Member. Those Persons who are
entitled to designate a Manager and who hold the number of Membership Points
necessary to designate a Manager may remove and replace such Manager previously
designated by them at any time upon written notice to the LLC.

         Section 5.4. Vacancies. If a Manager resigns or is removed from the
Board, the Persons who previously designated that Manager may designate another
Person to serve as Manager at any time after the resignation or removal by
written notice to the LLC.

         Section 5.5. Meetings. The Board shall hold regular quarterly meetings
without call or notice, at such places and times as the Board determines from
time to time, provided reasonable notice of the first regular meeting following
any such determination is given to Managers absent at the meeting fixing regular
meetings. When called by the Chairman or by Managers holding a majority of votes
on the Board, the Board may hold special meetings at such places and times as
are designated in the call of the meeting, upon at least ten days' notice given
by the Chairman, the Secretary or an Assistant Secretary, or by the Managers
calling the meeting. Any notice

                                     -17-
<PAGE>
required hereunder may be waived in writing by the Person to whom notice should
have been sent, whether before or after the meeting, and attendance at any
meeting waives the attendee's right to any notice required hereunder unless the
Person attends for the express purpose of objecting at the beginning of the
meeting to the transaction of any business because the meeting was not lawfully
called or convened.

         Section 5.6. Quorum. At any meeting of the Board, the presence of three
Managers shall constitute a quorum, provided that prior to March 31, 2006 at
least two of such Managers must have been designated by the Principals. Any
meeting may be adjourned from time to time by Managers holding a majority of
votes present at the meeting, whether or not a quorum is present, and the
meeting may be held as adjourned upon at least 10 days' notice to all Managers.

         Section 5.7. Action By Consent. Any action of the Board may be taken
without a meeting if all Managers consent to the action in writing. The written
consents shall be filed with the records of the Board meetings. Those actions by
consent shall be treated for all purposes as actions taken at a meeting.

         Section 5.8. Telephonic Meetings. Managers may participate in Board
meetings by conference telephone or similar communications equipment, as long as
all Managers participating in the meeting can hear each other at the same time.
Participation by such means shall constitute presence at the meeting in person.

         Section 5.9. Managers as Agents; Limitation on Power of Members. To the
extent of their powers set forth herein, the Managers are agents of the LLC for
purposes of the LLC's business, and the actions of the Managers taken in
accordance with those powers shall bind the LLC. No Member, in that Person's
capacity as Member, acting individually or with all Members, and no Managers
representing less than the number of Managers necessary for Board action under
Sections 5.1, 5.7 or 5.13(d) may bind the LLC. The Managers representing the
number of Managers necessary for Board action under Article 5 may bind the LLC.

         Section 5.10. Duty of Managers. A Manager is required to act in good
faith in a manner he reasonably believes to be in the best interest of the LLC
and shall be deemed to owe the same fiduciary duty to the LLC as a director of a
Delaware corporation is deemed to owe the corporation under Delaware law.

         Section 5.11. Approval of Annual Budget. The Board alone shall have the
power to approve the LLC's annual budget. If the LLC's annual budget is not
approved in its entirety by the Board under this Section 5.11, the Board shall
approve the budget to the extent of those items on which there is agreement, and
shall continue to negotiate in good faith until all items of the budget are
agreed upon.

         Section 5.12. Officers. The Board may appoint agents and employees of
the LLC who are designated as officers of the LLC (each, an "Officer"). The
Officers shall at all times include a Chairman, a President, a Chief Executive
Officer and a Secretary and may from time to time

                                     -18-
<PAGE>
include a Vice Chairman, one or more Executive Vice Presidents, Senior Vice
Presidents, Vice Presidents and Assistant Secretaries and such other Officers
as the Board may approve. The initial Officers shall be as set forth on
Schedule 2. The Board may remove any Officer at any time, for any reason, in
its sole and absolute discretion. The Officers shall be agents of the LLC,
authorized to execute and deliver documents and take other actions on the LLC's
behalf, subject to the direction of the Board, and to have such other duties as
the Board may approve, provided that the delegation of any such power and
authority to the Officers shall not limit in any respect the power and
authority of the Board to take such actions or any other action on the LLC's
behalf as provided herein. The Secretary shall record the actions of the Board,
certify this Agreement and any related document or instrument, certify Board
resolutions, incumbency and other matters of the LLC, and have such other
ministerial duties as the Board may specify from time to time.

         Section 5.13. Powers of the Board; Powers of Officers.

         a.    Subject to the provisions hereof and of the Delaware Act
requiring the approval of Members, the Board's powers on behalf and in respect
of the LLC shall be all powers and privileges permitted to be exercised by
managers of the LLC under the Delaware Act (including Section 18-402 of the
Delaware Act), including the authority, power and discretion to manage and
control the business operations, affairs and properties of the LLC, to make all
decisions regarding those matters and to perform any and all other acts or
activities customary or incident to the management of the LLC's business
operations, including, without limitation, the right and power to hire and
terminate employees, and determine salaries, bonuses and other employee benefits
for the employees of the LLC.

         b.    Except to the extent that this Agreement requires the Board to
vote on a matter, the Board may delegate any of its powers to the Officers or
any one or more of them.

         c.    Subject to the limitation set forth in Section 5.13(b), the Board
hereby delegates to the respective Officers the respective powers delegated to
officers of a corporation under Delaware's General Corporation Law, subject to
the powers of a board of directors of a corporation under Delaware law. Any
documents signed by such Officers with the foregoing delegation shall be binding
on the LLC as if signed by the number of Managers required to approve such
action. The Board reserves the right to rescind the delegation of any such
powers at any time in its sole discretion.

         d.    Notwithstanding the foregoing, without the approval of all of the
Managers, the Board has no authority to:

               (1)   amend this Agreement or, except as otherwise specifically
provided herein, the Certificate;

               (2)   issue new LLC Interests;

               (3)   admit new Members;

                                     -19-
<PAGE>
               (4)   amend the investment management and advisory agreements of
the LLC existing as of the effective date of this Agreement in a manner
materially adverse to the LLC;

               (5)   in a single transaction or series of related transactions,
consolidate or merge the LLC or any Subsidiary of the LLC with or into another
Person (whether or not the LLC or such Subsidiary is the surviving Person),
sell, assign, transfer, lease, convey or otherwise dispose of all or any
substantial part of the property or assets of the LLC or any Subsidiary of the
LLC (other than pursuant to the BCT Agreement), or liquidate, dissolve or wind
up, or undertake any similar transaction or authorize, announce, make proposals
or seek offers for, or enter into any binding or nonbinding arrangements,
understandings or agreements with respect to any transaction or transactions
with a similar effect to the foregoing, except in all cases with, into, or to
any Person that is an Affiliate of the LLC, WTC, or WTI;

               (6)   file a voluntary petition or otherwise initiate proceedings
(i) to have the LLC adjudicated insolvent, or (ii) seeking an order for relief
of the LLC as a debtor under the United States Bankruptcy Code (11 U.S.C.
[sec][sec] 101 et seq.); file any petition seeking any composition,
reorganization, readjustment, liquidation, dissolution or similar relief under
the present or any future federal bankruptcy laws or any other present or
future applicable federal, state or other statute or law relating to
bankruptcy, insolvency, or other relief for debtors with respect to the LLC; or
seek, consent or fail to contest the appointment of any trustee, receiver,
conservator, assignee, sequestrator, custodian, liquidator (or other similar
official) of the LLC or of all or any substantial part of the property or
assets of the LLC, or make any general assignment for the benefit of creditors
of the LLC, or admit in writing the inability of the LLC to pay its debts
generally as they become due, or declare or effect a moratorium on the LLC's
debt or take any action in furtherance of any proscribed action;

               (7)   enter into a type of business that is fundamentally
different than presently conducted by the LLC;

               (8)   initiate and/or settle any third party or governmental
claims, disputes or litigation involving the LLC in excess of $250,000;

               (9)   incur new indebtedness for money borrowed in excess of
$250,000 in any Fiscal Year;

               (10)  issue additional securities of a Subsidiary of the LLC
(other than any securities that may be issued pursuant to any agreements
existing with BCT as of the date hereof);

               (11)  make capital expenditures in excess of $250,000 in any
Fiscal Year;

                                     -20-
<PAGE>
               (12)  make any election, or take or omit to take any action, that
would prevent the LLC from being taxed as a partnership for federal or state
income tax purposes;

               (13)  change the name or the location of the principal place of
business of the LLC, except within the Atlanta, Georgia Metropolitan Statistical
Area;

               (14)  undertake any New Business Opportunity;

               (15)  revise, modify or amend any compensation plan in any
material respect; and

               (16)  enter into any business transactions with WTC or any of its
Affiliates for the provision of investment advisory services that would be in
conflict with the LLC's business.

         Section 5.14. Reimbursement. The LLC shall reimburse each Manager and
Officer for all reasonable and necessary out-of-pocket expenses that Manager or
Officer incurs on an LLC's behalf according to terms the Board approves, except
that the LLC will not be required to reimburse any out-of-pocket travel expenses
of a Manager or Officer who has been designated by WTI. The Board's sole
determination of which expenses may be reimbursed to a Manager or an Officer and
the amount of those expenses shall be conclusive. Any such reimbursement shall
be treated as an expense of the LLC that shall be deducted in computing Profits
and Losses and, if made to a Manager or Officer that also is a Member, shall not
be deemed a distributive share of Profits or a distribution or return of capital
to such Manager or Officer.

                                   ARTICLE 6
                         CAPITAL CONTRIBUTIONS, CAPITAL
                     ACCOUNTS, DISTRIBUTIONS AND ALLOCATIONS

         Section 6.1. Capital Contributions.

         a.    Balentine, in exchange for the capital contribution set forth
opposite its name on Schedule 1 hereto (representing the Initial Capital
Contribution less the part thereof assigned to the Principals in connection with
the Distribution), has received an LLC Interest with the number of Membership
Points set forth there. Each Principal, in exchange for the part of the Initial
Capital Contribution assigned to him or it in connection with the Distribution
and set forth opposite his or its name on Schedule 1 under the heading "Capital
Contribution," has received an LLC Interest with the number of Membership Points
set forth there.

         b.    No Member shall be required to make any additional capital
contribution to the LLC, except with respect to any New Business Opportunity
approved by all of the Managers.

                                     -21-
<PAGE>
         Section 6.2. Capital Accounts.

         a.    Each Member shall have a Capital Account, which shall not bear
interest.

         b.    No Member has the right to demand a return of that Member's
capital contributions (or the balance of that Member's Capital Account). In
addition, no Member has the right to (1) demand and receive any distribution
from the LLC in any form other than cash or (2) bring an action of partition
against the LLC or its property.

         Section 6.3. Distributions of Cash.

         a.    Subject to Section 12.2(b)(2), within 15 days after the
availability of the year-end audit for each Fiscal Year, the Board shall cause
the LLC to distribute Free Cash Flow to the Members in proportion to the average
of their respective Membership Points held as of the close of each Accounting
Period in that Fiscal Year.

         b.    Subject to Section 12.2(b)(2) but notwithstanding Section 6.3(a),
the Board shall cause the LLC to make interim distributions of Free Cash Flow to
the Members within 30 days after the end of each of the four quarters in each
Fiscal Year, in proportion to the average of their respective Membership Points
held as of the close of each Accounting Period in such quarter; all such
distributions in any Fiscal Year shall be deemed advances against the
distribution required by Section 6.3(a) for such year. If any such distribution
is determined to be excessive by the Board, the Members shall repay, without
interest, the excessive portion of the distribution within 30 days after being
notified by the Board in writing of such determination.

         c.    The LLC is authorized to withhold from distributions, or with
respect to allocations, to the Members and to pay over to any federal, state or
local government any amount required to be so withheld pursuant to the Code or
any provision of any state or local tax law. All amounts so withheld, and all
amounts withheld pursuant to the Code or any provision of any state or local tax
law with respect to any payment, distribution or allocation to the LLC, shall be
treated for all purposes hereof as amounts distributed pursuant to this Section
6.3 to the affected Member, or all the Members, as the case may be.

         d.    Notwithstanding any provision to the contrary herein, the LLC
shall not make a distribution to any Member on account of its LLC Interest if
that distribution would (1) cause that Member to have a deficit balance in its
Capital Account or (2) violate Section 18-607 of the Delaware Act or other
applicable law.

         e.    The proceeds of a sale of all or substantially all of the LLC's
assets shall be distributed pursuant to Section 13.4(a) as if they were proceeds
of the LLC's liquidation.

         f.    If any LLC Interest is transferred during any Accounting Period,
Free Cash Flow for such period that is distributable to the holder thereof shall
be distributed in accordance with Section 6.7 (by substituting "Accounting
Period" for "Fiscal Year").

                                     -22-
<PAGE>
         Section 6.4. Allocations of Profits and Losses for Tax Purposes.

         a.    After giving effect to the special allocations provided in
Section 6.5, and except as otherwise provided in Section 6.4(c), Profits for any
Fiscal Year or Accounting Period shall be allocated to the Members as follows:

               (1)  First, to each Member in an amount equal to the excess, if
          any, of (i) the cumulative Losses allocated to such Member pursuant to
          Section 6.4(b) for all prior Fiscal Years and prior Accounting Periods
          in the current Fiscal Year over (ii) the cumulative Profits allocated
          to such Member pursuant to this Section 6.4(a) for all such prior
          Fiscal Years and Accounting Periods; provided that, if the Profits of
          the current Fiscal Year or Accounting Period are less than the sum of
          such excess for all Members, such Profits shall be allocated to each
          Member in proportion to its share of such sum; and

               (2)  Second, to the Members in proportion to their respective
          Membership Points as of the end of that Fiscal Year or Accounting
          Period, as the case may be.

         b. After giving effect to the special allocations provided in Section
6.5, and except as otherwise provided in Section 6.4(c), Losses for any Fiscal
Year or Accounting Period shall be allocated to the Members as follows:

               (1)  First, to each Member in an amount equal to the excess, if
         any, of (i) the cumulative Profits allocated to such Member pursuant to
         Section 6.4(a) for all prior Fiscal Years and prior Accounting Periods
         in the current Fiscal Year over (ii) the cumulative Losses allocated to
         such Member pursuant to this Section 6.4(b) for all such prior Fiscal
         Years and Accounting Periods; provided that, if the Losses of the
         current Fiscal Year or Accounting Period are less than the sum of such
         excess for all Members, such Losses shall be allocated to each Member
         in proportion to its share of such sum, and provided further that no
         current Fiscal Year Losses shall be allocated to any Member to the
         extent such allocation would cause such Member to have a deficit in its
         Capital Account;

               (2)  Second, to the Members in proportion to their respective
         Membership Points as of the end of that Fiscal Year or Accounting
         Period, as the case may be, up to the amount of their positive Capital
         Account balances as of that time; and

               (3)  Third, to the Members in proportion to their respective
         Capital Account balances as of the end of that Fiscal Year or
         Accounting Period, as the case may be.

         c.    Notwithstanding Section 6.4(a), Profits and Losses from the sale
of all or substantially all of the LLC's assets, and Profits and Losses from a
deemed sale of assets in connection with the liquidation of the LLC (as
described in Section 13.4(b)), shall be allocated among the Members in
proportion to distributions pursuant to Sections 13.4(a)(2) through (4).

                                     -23-
<PAGE>
         Section 6.5. Special Allocations.

         a.    If and to the extent any employee or Principal of the LLC or an
Affiliate recognizes or is deemed to recognize any item of income or gain
pursuant to Code Section 83 by virtue of any transaction or deemed transaction
between any Member and that employee, then any resulting item of loss the LLC
recognizes or deduction to which the LLC is entitled shall be specially
allocated to that Member.

         b.    The provisions of the Treasury Regulations under Code Section
704(b) relating to the qualified income offset, minimum gain chargeback, minimum
gain chargeback with respect to nonrecourse debt, allocation of nonrecourse
deductions and allocation of items of deduction, loss or expenditure relating to
nonrecourse debt hereby are incorporated herein by this reference and shall be
applied to the allocation of items of income, gain, loss or deduction of the
LLC. However, the Members do not intend to incorporate, by reference or
otherwise, the "deficit restoration obligation" described in Section
1.704-1(b)(2)(ii)(c) of the Treasury Regulations.

         c.    If items of income, gain, loss or deduction are allocated to one
or more Members pursuant to Section 6.5(b), subsequent items of income, gain,
loss or deduction shall first be allocated to the Members in a manner designed
to result in each Member's receiving an allocation of Profits and Losses through
the time of such subsequent allocation equal to what such Member would have
received in the absence of Section 6.5(b).

         Section 6.6. Allocations under Code Section 704(c).

         a.    In accordance with Code Section 704(c) and the Treasury
Regulations thereunder, income, gain, loss and deduction with respect to any
property contributed to the LLC's capital shall, solely for tax purposes, be
allocated among the Members to take account of any variation between the LLC's
adjusted basis in that property for federal income tax purposes and its initial
Carrying Value at the time of its contribution to the LLC.

         b.    Allocations of income, gain, loss and deduction with respect to
any asset revalued in accordance with Section 1.704-1(b)(2)(iv)(f) of the
Treasury Regulations shall take account of any variation between the LLC's
adjusted basis in that asset for federal income tax purposes and its Carrying
Value in the same manner as under Code Section 704(c) and the Treasury
Regulations thereunder and as required by Section 1.704-1(b)(2)(iv)(g) of the
Treasury Regulations.

         c.    Any elections or other decisions relating to allocations
described in Sections 6.6(b) or (c) shall be made by the Members in any manner
that reasonably reflects the purposes and intent hereof. Allocations pursuant to
Sections 6.4, 6.5 and 6.6 are solely for purposes of federal, state and local
income taxes and shall not affect, nor in any way be taken into account in
computing, any Member's Capital Account balance, Free Cash Flow or other items
or distributions pursuant to any provision hereof.

         Section 6.7. Transfer of LLC Interests. If an LLC Interest is
transferred during any Fiscal Year (including to the LLC or another Member), the
Profits or Losses attributable to such

                                     -24-
<PAGE>
LLC Interest for such Fiscal Year shall be allocated, and the Free Cash Flow
for such year distributable to the holder thereof shall be distributed, between
the transferor and the transferee ("parties") in any manner permitted by law as
to which they agree; provided, however, that, if the LLC does not receive, on
or before January 31 of the year following the Fiscal Year in which the
transfer occurs, written notice from the transferor and the transferee stating
the manner in which the parties have agreed to allocate such Profits or Losses
and distributions of Free Cash Flow, then all such Profits or Losses and
distributions of Free Cash Flow shall be allocated between or made to the
parties based on the percentage of the year each of them was, according to the
LLC's books and records, the holder of the transferred LLC Interest.

                                   ARTICLE 7
           TRANSFER OF LLC INTERESTS, PUT AND CALL OPTIONS, CHANGE OF
                  CONTROL AND ADMISSION OF ADDITIONAL MEMBERS

         Section 7.1. Assignability of Interests.

         a.    Except as otherwise provided in this Article 7, no LLC Interest
may be sold, assigned, transferred, pledged, hypothecated, given, exchanged,
optioned or encumbered (each, a "Transfer"), and no Transfer in violation of
this Agreement shall be binding upon the LLC.

         b.    A Member may transfer all or any portion of its or his LLC
Interest to any one or more Permitted Transferees who agree to be bound by the
terms and conditions hereof; provided that, notwithstanding anything to the
contrary contained herein, the transferring Member shall retain the vote with
respect to the LLC Interest so Transferred to Permitted Transferees; provided,
however, if the Transferee is WTI or is consolidated with WTI for federal income
tax purposes, the Transferee shall become a Voting Member.

         Section 7.2. Put Options.

         a.    Except as provided in the next paragraph of this Section 7.2(a),
on or before February 28 of each year beginning in 2003, the Board shall notify
each Member of the LLC Value as of December 31 of the immediately preceding
year. The Board shall also furnish a certified copy of a balance sheet, income
statement, and cash flow statement of the LLC for each Fiscal Year, and
statement of such Member's Capital Account balance as of the end of that Fiscal
Year, all of which shall be audited by, and shall receive the unqualified
opinion of, the LLC's independent accounting firm, as if the LLC were
independent and not affiliated with WTC, to each Member promptly after they are
available.

         If the LLC's financial statements are unavailable until after February
28 of a year beginning in 2003, the Board shall notify, on or before February 28
of that year, each Member of the estimated LLC Value as of December 31 of the
immediately preceding year and shall notify each Member of the actual LLC Value
as promptly as possible after such financial statements

                                     -25-
<PAGE>
become available. If the Purchase Closing Date with respect to any LLC
Interests put pursuant to this Section 7.2 has not occurred, and the LLC Value
differs from the estimated LLC Value by 5% or more, each Principal and/or his
or its Permitted Transferees who or that has exercised his or its Put rights
shall have the right to rescind his and/or its decision to exercise of his or
its Put rights. If such Purchase Closing Date has occurred, each of the
Principals and/or his or its Permitted Transferees exercising the Put rights
with respect to his or its LLC Interest and the purchaser(s) of such LLC
Interest, as the case may be, shall remit to the other(s) the amount(s)
necessary to reflect appropriately the difference between the LLC Value and the
estimated LLC Value.

         b.    Subject to the terms, conditions and limitations of this Section
7.2, each Principal (on behalf of himself and/or his or its Permitted
Transferees) may exercise an option to sell all or any portion of his or its LLC
Interest and associated Membership Points (each such exercise is referred to
herein as a "Put") at the Purchase Price therefor. Upon exercise of a Put under
this Section 7.2(b) by a Principal, the other Principals (the "Other
Principals") shall first have the right (in proportion to their Membership
Points or in such other proportions as the Principals' Representative may
determine) to purchase from that Principal or that Principal's Permitted
Transferees, as the case may be, all of that Principal's and his or its
Permitted Transferees' LLC Interests (or such portion as the Other Principals
agree to purchase). If the Other Principals do not elect to purchase all of that
Principal's and his or its Permitted Transferees' LLC Interests, Balentine shall
thereupon become obligated to purchase any remaining LLC Interests with respect
to which the Put has been exercised.

         c.    Notwithstanding anything contained in Section 7.2(b) to the
contrary, unless otherwise agreed to by Balentine: (1) a Principal (on behalf of
himself or itself and/or his or its Permitted Transferees) may not exercise a
Put prior to January 1, 2006; and (2) Puts may not be exercised in any year with
respect to LLC Interests and associated Membership Points representing more than
25% of the Membership Points of the LLC owned by a Principal and/or his
Permitted Transferees on December 31, 2005; provided, however, if a Put is not
exercised in full by a Principal or his Permitted Transferees for any year
beginning in 2006, that unexercised portion may be exercised at the time that a
Put is exercised for any subsequent year. For purposes of illustration if,
during 2006, a Principal and his Permitted Transferees exercised a Put for LLC
Interests associated with only 10% of the Membership Points held by them on
December 31, 2005, such Principal and his Permitted Transferees would then be
permitted during 2007 to exercise a Put in respect of LLC Interests associated
with 40% of the Membership Points held by them on December 31, 2005. In no
event, however, shall any Principal be entitled to Put LLC Interests associated
with more than 25% of the Membership Points owned by such Principal and/or his
Permitted Transferees on December 31, 2005 in 2006, 50% in 2007, 75% in 2008 and
100% in 2009. The restrictions on the Put rights described in this Section
7.2(c) apply solely to LLC Interests and associated Membership Points held by
the Principals or their Permitted Transferees as of the Closing (as defined in
the Merger Agreement); however, any subsequent holder of such LLC Interests
shall be entitled to exercise the Put right herein as if such holder were the
Principal or Permitted Transferee holding such LLC Interests as of the Closing.

                                     -26-
<PAGE>
         d.    A Principal (on behalf of himself and/or his or its Permitted
Transferees) may exercise a Put if, on or before March 31 of any year (beginning
on January 1, 2006), Balentine and each Other Principal receives an irrevocable
notice of exercise of the Put substantially in the form of Exhibit A hereto (a
"Put Notice") stating that he or it is electing to exercise the Put and
specifying the LLC Interests and associated Membership Points to be sold
pursuant to the Put. On or before 60 days after receipt of a Put Notice, the
Other Principals may exercise their right of first refusal to purchase all of
that Principal's and his or its Permitted Transferees' LLC Interests and
associated Membership Points (or such portion as the Other Principals agree to
purchase) by providing written notice to the Principal and/or the Principal's
Permitted Transferees, as the case may be, and Balentine in the form of Exhibit
B (the "First Refusal Notice"), and, if that right is exercised, that Principal
or that Principal's Permitted Transferees, as the case may be, shall be
obligated to sell to the Other Principals, all of that Principal's and his or
its Permitted Transferees' LLC Interests and associated Membership Points (or
such portion as the Other Principals agree to purchase). If the Other Principals
do not elect to purchase all of that Principal's and his or its Permitted
Transferees' LLC Interests and associated Membership Points (or if Balentine has
not received any notice from the Other Principals of their intention to purchase
any portion of that Principal's or his or its Permitted Transferees' LLC
Interests and associated Membership Points within the 60-day period described in
this Section 7.2(d)), Balentine shall purchase any and all remaining LLC
Interests and associated Membership Points with respect to which the Put has
been exercised.

         The Purchase Closing Date for a purchase pursuant to this Section
7.2(d) shall be within 30 days following the earlier of the expiration of the
time period contained in the preceding paragraph or the delivery of the First
Refusal Notice by the Other Principals of their exercise in part or in whole of
their rights of first refusal. On the Purchase Closing Date, each of Balentine
and the Other Principals shall pay the Purchase Price, in proportion to the
amount of LLC Interests and associated Membership Points being purchased by that
Person, to the Member by certified check or wire transfer of immediately
available funds against delivery of the LLC Interests and associated Membership
Points, free and clear of all liens, security interests and other encumbrances,
and any other documents or instruments of transfer as they may reasonably
request.

         e.    On the last day of the month in which a Put is exercised by a
Principal (on behalf of himself and/or his or its Permitted Transferees), that
Member shall cease to have any rights as a Member with respect to the LLC
Interests so Put other than (1) the right to receive the Purchase Price on the
Purchase Closing Date and (2) the right to receive distributions and allocations
with respect to those LLC Interests through the Purchase Closing Date. Without
limiting the generality of the foregoing, the LLC Interests to be purchased on
the Purchase Closing Date shall not have any voting rights during that period.

         Section 7.3. Call Options. The following provisions with respect to the
purchase and sale of an LLC Interest of a Principal and his or its Permitted
Transferees shall apply following the Principal's death, Disability, Retirement,
termination of a Principal's employment with the LLC, a transfer required by
operation of law or other involuntary transfer of an LLC Interest.

                                     -27-
<PAGE>
         a.    In the event of the death, Disability or Retirement of a
Principal, the Other Principals shall have the right (in proportion to their
Membership Points or in such other proportions as the Principals' Representative
may determine), exercisable by providing written notice, within 60 days of that
event, to the Principal, the Principal's estate and/or the Principal's Permitted
Transferees, as the case may be, and Balentine in the form of Exhibit C (a "Call
Notice"), to purchase (a "Call") from that Principal or that Principal's estate
and that Principal's Permitted Transferees, as the case may be, and, if that
right is exercised, that Principal or that Principal's estate and that
Principal's Permitted Transferees, as the case may be, shall be obligated to
sell to the Other Principals, all of that Principal's and his or its Permitted
Transferees' LLC Interests and associated Membership Points (or such portion as
the Other Principals agree to purchase). If the Other Principals do not elect to
purchase all of that Principal's and his or its Permitted Transferees' LLC
Interests and associated Membership Points, Balentine shall have the right,
exercisable by providing a Call Notice to the Principal, that Principal's estate
and that Principal's Permitted Transferees, as the case may be, within the
60-day period following receipt of notice from the Other Principals declining to
purchase all or a portion of that Principal's and his or its Permitted
Transferees' LLC Interests and associated Membership Points (or, if Balentine
has not received any notice from the Other Principals regarding their intent to
purchase any portion of that Principal's and his or its Permitted Transferee's
LLC Interests and associated Membership Points, within the 60-day period
following the first 60-day period), to purchase some or all of the remaining LLC
Interests and associated Membership Points of that Principal and his or its
Permitted Transferees. If that right is exercised, that Principal and that
Principal's estate and Permitted Transferees, as the case may be, shall be
obligated to sell to Balentine all of that Principal's and his or its Permitted
Transferee's remaining LLC Interests and associated Membership Points (or such
portion as Balentine agrees to purchase). Notwithstanding anything to the
contrary herein, the Other Principals and Balentine shall not be obligated to
purchase any or all of that Principal's and his or its Permitted Transferees'
LLC Interests and associated Membership Points, and any rights granted by this
Section 7.3(a) may be exercised in whole or in part. The aggregate purchase
price for all of that Principal's and his Permitted Transferees' LLC Interests
and associated Membership Points purchased pursuant to this Section 7.3(a) shall
be the Purchase Price thereof. Each of Balentine and the Other Principals shall
pay the Purchase Price in proportion to the amount of LLC Interests and
associated Membership Points being purchased by that Person.

         The Purchase Closing Date for a purchase pursuant to this Section
7.3(a) shall be within ten days following the earlier of the expiration of the
time periods contained in the preceding paragraph or the delivery of the Call
Notice by Balentine. At the closing of the purchase from the Principal, the
estate of the deceased Principal and/or the Principal's Permitted Transferees,
Balentine and/or the Other Principals shall deliver to the Principal, his or its
Permitted Transferees or the personal representative of the deceased Principal's
estate, as the case may be, the Purchase Price by certified check or wire
transfer of immediately available funds against delivery of the LLC Interests
and associated Membership Points, free and clear of all liens, security
interests and other encumbrances, and any other documents or instruments of
transfer as they may reasonably request. Balentine and the Other Principals may
purchase life insurance or

                                     -28-
<PAGE>
disability insurance on any Principal. Each Principal shall cooperate with
Balentine and the Other Principals in obtaining that insurance, including
taking any required physical examinations.

         b.    Within 60 days following (1) the date the Principal's employment
with the LLC is terminated other than by reason of death, Disability or
Retirement; (2) the date the Principal becomes a Non-Voting Member pursuant to
Section 4.6(d); or (3) a transfer required by operation of law or other
involuntary transfer of a Principal's or his or its Permitted Transferee's LLC
Interests and associated Membership Points, the Other Principals (in proportion
to their Membership Points or in such other proportions as the Principals'
Representative may determine) may exercise a Call with respect to all or any
portion of that Principal's and that Principal's Permitted Transferees' LLC
Interests and associated Membership Points. If some or all of a Principal's or
his or its Permitted Transferees' LLC Interests and associated Membership Points
are transferred by operation of law or by means of any other involuntary
transfer, that Person shall cause its transferees to comply with all of the
requirements of this Section 7.3 as though they were parties hereto. A Call may
be exercised by the Other Principals providing a Call Notice to the Principal
and/or the Principal's Permitted Transferees and Balentine within 60 days after
that event, of their intent to purchase all or any portion of the Principal's
and that Principal's Permitted Transferees' LLC Interests and associated
Membership Points. If the Other Principals do not exercise a Call with respect
to all of a Principal's and that Principal's Permitted Transferees' LLC
Interests and associated Membership Points in accordance with the preceding
sentence (or if Balentine has not received any notice from the Other Principals
of their intent to purchase any portion of that Principal's and his or its
Permitted Transferees' LLC Interests and associated Membership Points within the
60-day period described in this Section 7.3(b)), Balentine shall have an
additional 60 days to exercise a Call with respect to that portion of the
Principal's and that Principal's Permitted Transferees' LLC Interests and
associated Membership Points for which the Other Principals do not exercise a
Call by providing a Call Notice to the Principal and his or its Permitted
Transferees. Notwithstanding anything to the contrary contained herein, the
Other Principals and Balentine shall not be obligated to exercise any Call, and
any right granted in this Section 7.3(b) may be exercised in whole or in part.

         If a Call is exercised as a result of (1) a Principal's employment with
the LLC being terminated without Cause or by reason of voluntary resignation of
his employment with the LLC; or (2) a transfer required by operation of law or
other involuntary transfer of a Principal's or that Principal's Permitted
Transferees' LLC Interests and associated Membership Points, the purchase price
payable by the Other Principals and/or Balentine to that Principal and his or
its Permitted Transferees for their LLC Interests and associated Membership
Points shall be the Purchase Price. If a Principal's employment with the LLC is
terminated by the LLC for Cause or if the Principal becomes a Non-Voting Member
pursuant to Section 4.6(d), then, notwithstanding anything else to the contrary
herein, the Purchase Price payable by the Other Principals and/or Balentine to
that Principal and his or its Permitted Transferees for their LLC Interests
shall be 60% of the Purchase Price that would otherwise apply.

                                     -29-
<PAGE>
         The Purchase Closing Date under this Section 7.3(b) shall be within ten
days following the earlier of the expiration of the time periods contained in
the first paragraph of this Section 7.3(b) or the delivery of the Call Notice by
Balentine. At the closing of the purchase from the Principal, and/or the
Principal's Permitted Transferees, Balentine and/or the Other Principals shall
deliver to the Principal, or his or its Permitted Transferees, as the case may
be, the Purchase Price by certified check or wire transfer of immediately
available funds against delivery of the LLC Interests and associated Membership
Points, free and clear of all liens, security interests and other encumbrances,
and any other documents or instruments of transfer as they may reasonably
request.

         c.    Notwithstanding the foregoing, if a Call is exercised with
respect to the LLC Interests and associated Membership Points of a Principal or
his or its Permitted Transferees who has voluntarily resigned his employment
with the LLC other than by death, Disability or Retirement or for Good Reason or
whose employment by the LLC is terminated for Cause or if the Principal becomes
a Non-Voting Member pursuant to Section 4.6(d), in each case at any time prior
to March 31, 2006, then the portion of the Purchase Price payable to that
Principal and his or its Permitted Transferees shall be paid by delivery of a
three-year promissory note of the purchaser(s) of such LLC Interests and
associated Membership Points to the selling Principal and his or its Permitted
Transferees, which shall bear interest at the "applicable federal rate"
determined under Section 1274(d) of the Code for three-year instruments (a
"Note"), payable quarterly, and the principal of which shall be payable three
years after the Purchase Closing Date. If such employment is terminated after
March 31, 2006, the Purchase Price must be paid in cash as provided above.

         d.    On the last day of the month in which a Call is exercised, the
Principal who has died, become Disabled or Retired and his or its Permitted
Transferees, or the Principal and his or its Permitted Transferees who have
received a Call Notice, shall cease to have any rights as a Member with respect
to the LLC Interest for which Calls have been exercised, other than (1) the
right to receive the Purchase Price on the Purchase Closing Date and (2) the
right to receive distributions and allocations with respect to that LLC Interest
through the Purchase Closing Date.

         e.    In the event of the death, Disability or Retirement of Robert,
the Family Trust shall be treated for purposes of this Section 7.3 as having
died, become Disabled or Retired on the date Robert died, became Disabled or
Retired. If Robert's employment with the LLC is terminated other than by reason
of death, Disability or Retirement, or if his Membership in the LLC is
terminated for Cause, then the Family Trust shall be treated for purposes of
this Section 7.3 as having terminated employment with the LLC or terminated its
membership in the LLC in such circumstance and on such date, except that, with
respect to only those LLC Interests owned by the Family Trust as of the date
hereof, each of the Family Trust shall, notwithstanding any provision to the
contrary in Section 7.3(b), receive 100% of the Purchase Price for those LLC
Interests and such amount shall be paid in cash.

         f.    If the Insurance Trust has not exercised all of its Put rights
pursuant to Section 7.2 by March 31, 2009, the Other Principals (in proportion
to their Membership Points or in such

                                     -30-
<PAGE>
other proportions as the Principals' Representative may determine) may exercise
a Call with respect to all or any portion of the Insurance Trust's LLC
Interests and associated Membership Points.  A Call may be exercised by the
Other Principals by providing a Call Notice to the Insurance Trust and
Balentine within 60 days after March 31, 2009 of their intent to purchase all
or any portion of the Insurance Trust's LLC Interests and associated Membership
Points. If the Other Principals do not exercise a Call with respect to all of
the Insurance Trust's LLC Interests and associated Membership Points in
accordance with the preceding sentence (or if Balentine has not received any
notice from the Other Principals of their intent to purchase any portion of the
Insurance Trust's LLC Interests and associated Membership Points within the
60-day period described in this Section 7.3(f)), Balentine shall have an
additional 60 days to exercise a Call with respect to that portion of the
Insurance Trust's LLC Interests and associated Membership Points for which the
Other Principals do not exercise a Call by providing a Call Notice to the
Insurance Trust. Notwithstanding anything to the contrary contained herein, the
Other Principals and Balentine shall not be obligated to exercise any Call, and
any right granted in this Section 7.3(f) may be exercised in whole or in part.

         The Purchase Closing Date under this Section 7.3(f) shall be within ten
days following the earlier of the expiration of the time periods contained in
the first paragraph of this Section 7.3(f) or the delivery of the Call Notice by
Balentine. At the closing of the purchase from the Principal, and/or the
Principal's Permitted Transferees, Balentine and/or the Other Principals shall
deliver to the Principal, or his or its Permitted Transferees, as the case may
be, the Purchase Price by certified check or wire transfer of immediately
available funds against delivery of the LLC Interests and associated Membership
Points, free and clear of all liens, security interests and other encumbrances,
and any other documents or instruments of transfer as they may reasonably
request.

         Section 7.4. Right of First Refusal.

         a.    If Balentine desires to sell any or all of Balentine's LLC
Interests to a third party (other than a Permitted Transferee) and Balentine
receives an offer from a third party that would permit Balentine to do so,
Balentine shall give notice ("Offer Notice") to the LLC and the Principals
within 15 days of receipt of such offer ("Offer"), which Offer Notice shall set
forth the name and address of the third party, the amount of the Membership
Points associated with the LLC Interests to be sold, the proposed purchase price
and the other terms and conditions of the Offer. The Principals shall have the
option, exercisable by notice to Balentine, within 60 days of the date of the
Offer Notice ("Election Period"), to purchase, pro rata in proportion to their
Membership Points, all (but not less than all) of the Balentine LLC Interests
and associated Membership Points subject to the Offer ("Offered Membership
Points") at the same price and on substantially the same terms specified in the
Offer except as provided in Section 7.4(c); provided, however, (i) that, if one
or more of the Principals does not elect to purchase his or its full
proportionate amount of the Offered Membership Points, then the balance may be
purchased by each of the other Principals ("Remaining Principals") in an amount
equal to the balance multiplied by a fraction, the numerator of which is the
number of Membership Points then held by a Remaining Principal and the
denominator of which is the number of Membership Points

                                     -31-
<PAGE>
then held by all of the Remaining Principals, or in such other proportions as
they may agree, and (ii) that the Remaining Principals must exercise their
option to purchase all of the Offered Membership Points pro rata, or in such
other proportions as such Remaining Principals may agree, within ten days
("Final Election Period") after expiration of the Election Period.

         b.    If neither the Principals nor the Remaining Principals elect to
purchase all of the Offered Membership Points, Balentine may, notwithstanding
the other provisions of this Article 7, within 60 days after expiration of the
last applicable Election Period, transfer all (but not less than all) of the
Offered Membership Points to the third party upon the same terms and conditions
of the Offer (but, if the Offered Membership Points are not transferred within
that 60-day period, they shall again be subject to this Agreement and a new
right of first refusal); provided, however, that no such transfer may be made to
such third party unless the third party executes and delivers to the LLC a
written agreement, in form and substance satisfactory to the Board, agreeing to
be bound by the provisions of this Agreement, in which event the third party
shall become a Voting Member with the number of Membership Points associated
with the Offered Membership Points.

         c.    The closing of any purchase under this Section 7.4 shall be held
at a place and date specified by the purchaser(s) of the Offered Membership
Points ("Purchaser(s)"), but not more than 60 days after expiration of the last
applicable Election Period. At such closing, the Offered Membership Points shall
be delivered by Balentine to the Purchaser(s) thereof, free and clear of all
liens, security interests and other encumbrances, and the Purchaser(s) shall pay
the purchase price for the Offered Membership Points, and Balentine shall have
right to receive distributions and allocations with respect to those Offered
Membership Points through the Purchase Closing Date. If some or all of the
Principals are the Purchaser(s), the purchase price shall be payable in cash by
the Purchaser(s) even if some of the consideration provided in the Offer was in
a form other than cash, in which case such Purchaser(s) and Balentine shall in
good faith ascribe a value to such non-cash consideration. If such Purchaser(s)
and Balentine cannot agree on the value of the non-cash consideration, they
shall retain an independent appraiser, mutually acceptable to such Purchaser(s)
and Balentine, and the average of the high and low values ascribed to the
non-cash consideration by the appraiser shall be such value. The fees of such
appraiser shall be split equally between such Purchaser(s) (pro rata in
proportion to number of Membership Points held by each such Purchaser) and
Balentine.

         d.    If all of Balentine's LLC Interests and associated Membership
Points are purchased by a third party, then such third party shall succeed to
all of Balentine's rights and obligations under this Agreement, including the
obligations of Balentine under Section 7.5. If Balentine transfers part of its
LLC Interests and associated Membership Points to such third party pursuant to
this Section 7.4, the Principals, Balentine and such third party shall make
appropriate adjustments to the terms of this Agreement to entitle such third
party to exercise Balentine's rights under Sections 7.2 and 7.3 proportionately
with Balentine, and to otherwise grant such third party rights similar to
Balentine's other rights under this Agreement.

                                     -32-
<PAGE>
         Section 7.5. Change of Control.

         a.    In the event of a Change of Control of WTC or the LLC, each of
the Principals or their Permitted Transferees shall have the right, which must
be exercised within six months after such Change of Control, to put to Balentine
all or a portion of the LLC Interests and associated Membership Points held by
such Principal and/or Permitted Transferee. Upon exercise of a put under this
Section 7.5, Balentine shall thereupon become obligated to purchase the LLC
Interests and associated Membership Points with respect to which the put has
been exercised. The Purchase Closing Date under this Section 7.5(a) shall be
within 60 days following the delivery of the notice by a Principal and his or
its Permitted Transferees, and such Persons shall have the right to receive
distributions and allocations on the LLC Interests to be purchased through the
Purchase Closing Date. At the Purchase Closing Date, Balentine shall deliver to
the Principal, or his or its Permitted Transferees, as the case may be, the
Purchase Price by certified check or wire transfer of immediately available
funds against delivery of the LLC Interests and associated Membership Points,
free and clear of all liens, security interests and other encumbrances, and any
other documents or instruments of transfer as Balentine may reasonably request.

         b.    In the event of a Change of Control of WTC prior to March 31,
2006, if the Principals do not elect to receive the accelerated payments
pursuant to Section 3.1(c) of the Merger Agreement and less than all of the
Principals and their Permitted Transferees exercise the put right provided for
in Section 7.5(a), the Principals who or that have not exercised their put
pursuant to Section 7.5(a) shall have the right to purchase all, but not less
than all, outstanding LLC Interests then held by Balentine, WTI, WTC and their
Permitted Transferees from such Persons, including those put under Section
7.5(a). This right to purchase may be exercised by some or all of such
Principals by providing written notice to WTC or its successor within eight
months after the Change of Control of their intent to purchase all, but not less
than all, outstanding LLC Interests from Balentine, WTI, WTC and their Permitted
Transferees. The Purchase Closing Date under this Section 7.5(b) shall be within
30 days following the delivery of the notice by such Principals. At the Purchase
Closing Date, such Principals shall deliver to Balentine, WTI, WTC or their
Permitted Transferees, as the case may be, the WTC Change of Control Purchase
Price by certified check or wire transfer of immediately available funds against
delivery of the LLC Interests, free and clear of all liens, security interests
and other encumbrances, and any other documents or instruments of transfer as
they may reasonably request. Balentine shall have the right to receive
distributions and allocations with respect to those LLC Interests through the
Purchase Closing Date.

         Section 7.6. Substitute Members. Any Transfer of LLC Interests other
than pursuant to this Article 7 shall nevertheless not entitle the transferee,
unless already a Member, to become a Member or be entitled to exercise or
receive any right, power or benefit of a Member other than the right to share in
profits and losses, receive distributions and allocations of income, gain, loss,
deduction or credit or similar item to which the transferor Member would
otherwise be entitled, to the extent assigned, unless the transferor Member
designates, in a written instrument delivered to the Board, its transferee to
become a substitute Member and the Board, in its sole and absolute discretion,
consents to the admission of that transferee as a Non-Voting Member. That
transferee

                                     -33-
<PAGE>
shall not become a substitute Member without having first executed an
instrument satisfactory to the Board accepting and agreeing to the terms and
conditions of this Agreement, including a counterpart signature page to this
Agreement, and without having paid to the LLC a fee sufficient to cover all
reasonable expenses of the LLC in connection with that transferee's admission
as a substitute Member.

         Section 7.7. Recognition of Transfer by LLC. No Transfer of a Member's
LLC Interest or any part thereof in violation of this Article 7 shall be valid
or effective, and neither the LLC nor the Members shall recognize the same for
the purpose of making distributions pursuant to this Article 7 with respect to
that transferred LLC Interest or part thereof. Neither the LLC, any member of
the Board nor any Member shall incur any liability as a result of refusing to
make any distributions to the transferee of any such invalid Transfer. Upon the
valid transfer of a Member's LLC Interest, that Person shall cease to be a
Member, and the LLC's books and records, including Schedule 1, shall be revised
to reflect that event.

         Section 7.8. Order of Puts and Calls and Right of First Refusal. With
respect to Sections 7.2, 7.3 and 7.4, the first to occur of (1) the delivery of
a Put Notice under Section 7.2(d); (2) the delivery of the first Call Notice
under Section 7.3(a) or (b); or (3) the delivery of an Offer Notice under
Section 7.4, shall govern the rights and obligations of the parties with respect
to the LLC Interests subject to the Put Notice, the Call Notice, the Purchase
Notice or the Offer Notice. Notwithstanding the foregoing, the delivery of a put
notice under Section 7.5(a) or a call notice under Section 7.5(b) shall govern
the rights and obligations of the parties with respect to the LLC Interests.

         Section 7.9. Indemnification. In the case of a Transfer or attempted
Transfer of an LLC Interest that has not received the consents required by this
Article 7, the parties engaging or attempting to engage in that Transfer shall
be liable to indemnify and hold the LLC and the other Members harmless from all
costs, liabilities and damages any such indemnified Person may incur (including,
without limitation, incremental tax liability and attorneys' fees and expenses)
as a result of that Transfer or attempted Transfer and efforts to enforce the
indemnity granted hereby.

         Section 7.10. Issuance of Additional LLC Interests.

         a.    Subject to Sections 5.13(d), 7.1, 7.2, 7.3 and 7.4, the Board may
admit new Members to the LLC, issue additional LLC Interests and grant options
to purchase LLC Interests upon terms and conditions it may establish from time
to time, which terms may include any Capital Deduction Amount relating to the
LLC Interests and, the rights, if any, that a holder of such LLC Interests will
have relating to the matters discussed in this Article 7. As a condition to the
admission of a new Member, that Member must become a party to this Agreement.

         b.    Upon the issuance of additional LLC Interests with associated
Membership Points to a Member, an Officer shall make the appropriate revisions
to Schedule 1.

                                     -34-
<PAGE>
         Section 7.11. Assignment of Balentine's Rights and Obligations.
Balentine may assign any or all of its rights and delegate any or all of its
obligations under this Article 7 to one or more of its Affiliates.

         Section 7.12. Guarantee of Performance. WTC hereby guarantees due and
punctual payment and performance when due of all obligations of Balentine (and
any assignee or delegate under Section 7.11) under this Agreement (as such may
be amended or modified subsequent to the date hereof). This guaranty shall be an
absolute obligation of WTC for its own account and a guaranty of payment, and
not of collection.

                                   ARTICLE 8
                                BOOKS AND RECORDS

         Section 8.1. Books, Records and Financial Statements. The LLC's
Secretary shall prepare and maintain, or cause to be prepared and maintained,
the LLC's books of account. Those books of account and all financial records of
the LLC shall be kept at its office located at 3455 Peachtree Road, Suite 2000,
Atlanta, Georgia 30326. The Secretary shall also cause the following documents
to be transmitted at the times hereinafter set forth:

         a.    To each Member, as soon as available, a balance sheet, income
statement and cash flow statement of the LLC, and a statement of such Member's
Capital Account balance, as of the end of the preceding Fiscal Year, all of
which shall be audited by the LLC's independent accounting firm;

         b.    To each Member, as soon as available and in any event within 30
days after the end of each of the first three quarters of each of the LLC's
Fiscal Year, a balance sheet, income statement and cash flow statement of the
LLC, and a statement of such Member's Capital Account balance, as of the end of
that quarter;

         c.    To each Member, as soon as available from the LLC's accountants,
a copy of the annual federal and state income tax return of the LLC and a
Schedule K-1 indicating such Member's taxable income or loss for that Fiscal
Year;

         d.    To each Member, at least ten days prior to each date on which any
federal or state estimated income tax payment is due, a schedule setting forth
the LLC's estimated taxable income allocable to such Member for the current
Fiscal Year; and

         e.    To Balentine, within five business days after the end of each
quarter, an estimate of the net income of the LLC for the year-to-date period
through the end of that quarter.

         Section 8.2. Accounting Method. The LLC's books and records shall be
kept on an accrual basis for financial reporting and tax purposes. All records
shall be maintained in accordance with

                                     -35-
<PAGE>
GAAP and shall reflect all LLC transactions and be appropriate and adequate for
the LLC's business.

         Section 8.3. LLC's Independent Accounting Firm. The LLC's independent
accounting firm shall be selected by the Principals and shall be acceptable to
WTI, which acceptance will not be unreasonably withheld, conditioned or delayed.

                                   ARTICLE 9
                                  TAX MATTERS

         Section 9.1. Tax Matters Member.

         a.    The LLC's initial "tax matters partner" designated under Code
Section 6231(a)(7) and Section 301.6231(a)(7)-1 of the Treasury Regulations (the
"Tax Matters Member") shall be the LLC's Chief Executive Officer, who shall be a
Member at all times he or she is serving as the Tax Matters Member. Each Member,
by executing this Agreement, consents to such designation of the Tax Matters
Member and agrees to execute, certify, acknowledge, deliver, swear to, file and
record at the appropriate public offices all documents necessary or appropriate
to evidence such consent.

         b.    The Tax Matters Member shall have the power to manage and
control, on the LLC's behalf, any administrative proceeding at the LLC level
with the Internal Revenue Service relating to the determination of any item of
LLC income, gain, loss, deduction or credit for federal income tax purposes. In
furtherance of the foregoing, the Tax Matters Member shall have all the powers
and responsibilities of such position provided in the Code and (1) shall
promptly furnish the Internal Revenue Service with information sufficient to
cause each Member to be treated as a "notice partner" as defined in Code Section
6231(a)(8), (2) shall, within ten days of the receipt of any notice from the
Internal Revenue Service in any administrative proceeding at the LLC level
relating to the determination of any LLC item of income, gain, loss or
deduction, mail a copy of that notice to each Member and (3) shall not file any
action or suit, extend any statute of limitations or settle any action or suit
relating to the LLC's tax matters without first notifying each Member.
Reasonable expenses incurred by the Tax Matters Member, in his capacity as such,
will be treated as LLC expenses hereunder and will be deducted in computing the
Run Rate.

         c.    The Board may at any time hereafter designate from among the
Members a new Tax Matters Member.

         Section 9.2. Right to Make Tax Elections; Tax Classification.

         a.    Subject to Section 5.13(d), the Board may, in its discretion,
make or revoke, on the LLC's behalf, elections for federal income tax purposes
permitted under the Code, including

                                     -36-
<PAGE>
an election in accordance with Code Section 754. Upon request of the Board,
each Member shall supply the information necessary to give effect to such an
election.

         b.    Each Member intends that the LLC be classified for federal tax
purposes as a partnership that is not a "publicly traded partnership" treated as
a corporation under Code Section 7704(a), and each Member shall at all times use
commercially reasonable efforts to maintain the LLC's classification as such.
The LLC shall not elect to be classified as other than a partnership for federal
tax purposes.

                                   ARTICLE 10
                   LIABILITY, EXCULPATION AND INDEMNIFICATION

         Section 10.1. Liability.

         a.    Except as otherwise provided herein, any document referred to or
incorporated herein or by the Delaware Act, the debts, obligations and
liabilities of the LLC, whether arising in contract, tort or otherwise, shall be
solely the debts, obligations and liabilities of the LLC, and no Member shall be
obligated personally for any debt, obligation or liability of the LLC solely
because he or she is a Member.

         b.    Except as otherwise expressly provided herein, any document
referred to or incorporated herein or by the Delaware Act, a Member, in his
capacity as such, shall have no liability in excess of (1) the amount of that
Member's capital contributions, (2) that Member's share of any assets and
undistributed Profits of the LLC and (3) the amount of any distributions
wrongfully distributed to that Member.

         Section 10.2. Exculpation.

         a.    No Officer or Manager shall be liable to the LLC or any Member
for any loss, damage or claim incurred by reason of any act or omission
performed or omitted by that Officer or Manager in good faith on the LLC's
behalf and in a manner reasonably believed to be in the best interest of the LLC
and within the scope of authority conferred on that Officer or Manager hereby,
except that an Officer or Manager shall be liable for any such loss, damage or
claim incurred by reason of that Officer's or Manager's bad faith, gross
negligence, reckless disregard of his duties hereunder, willful misconduct or
breach of the provisions hereof or in connection with any transaction for which
such Officer or Manager or any Affiliate thereof received an improper personal
benefit.

         b.    An Officer or Manager shall be protected fully in relying in good
faith upon the LLC's records and upon information, opinions, reports or
statements presented to the LLC by any person as to matters the Officer or
Manager reasonably believes are within that person's professional or expert
competence and who has been selected with reasonable care by or on behalf of the
LLC, including information, opinions, reports or statements as to the value and

                                     -37-
<PAGE>
amount of the assets, liabilities, profits, losses or net cash flow or any
other facts pertinent to the existence and amount of assets from which
distributions to Members might properly be paid.

         Section 10.3. Indemnification. To the fullest extent permitted by
applicable law, the LLC shall indemnify each Officer and Manager for any loss,
damage or claim incurred by that Officer or Manager by reason of any act or
omission that Officer or Manager performed or omitted in good faith on behalf of
the LLC and in a manner reasonably believed to be in the best interest of the
LLC and within the scope of authority conferred on that Officer or Manager or
hereby, except that no Officer or Manager shall be entitled to be indemnified in
respect of any loss, damage or claim incurred by that Officer or Manager by
reason of bad faith, gross negligence, reckless disregard of his duties
hereunder, willful misconduct or breach of the provisions hereof with respect to
those acts or omissions or in connection with any transaction for which such
Officer or Manager or any Affiliate thereof received an improper personal
benefit. Notwithstanding the foregoing: (a) any indemnity under this Section
10.3 shall be provided out of and to the extent of LLC assets only, and no
Member shall have any personal liability on account thereof; and (b) nothing
contained herein shall limit any indemnification or other rights of the LLC or
any Member under the Merger Agreement or any document referred to or
incorporated therein.

         Section 10.4. Expenses. To the fullest extent permitted by applicable
law, the LLC shall advance to an Officer or Manager any expenses, including
legal fees, that Officer or Manager incurs in defending any claim, demand,
action, suit or proceeding (that advance to be made prior to the final
disposition of that claim, demand, action, suit or proceeding), including,
without limitation, claims, demands, actions, suits or proceedings with respect
to which that Officer or Manager is alleged to have not met the applicable
standard of conduct or is alleged to have acted or failed to act in a manner
which, if those allegations were true, would not entitle that Officer or Manager
to indemnification hereunder, upon receipt by the LLC of an undertaking by or on
behalf of that Officer or Manager to repay that amount if it is determined that
that Officer or Manager is not entitled to be indemnified as authorized in
Section 10.3.

                                   ARTICLE 11
                        NON-COMPETITION; CONFIDENTIALITY

         Section 11.1. Confidential Information.

         a.    Each Member acknowledges and agrees that (1) the investment
advisory and investment management business is an intensely competitive
business, (2) as a result of his or its association with the Balentine Entities,
he or it has had access to, and is and will be in possession of, Confidential
Information, all is which is of vital importance to the success of the Balentine
Entities, WTI and WTI's Affiliates, and (3) the use by such Member for his or
its own account or the disclosure by Member to any existing or potential
competitor of a Balentine Entity, WTI or WTI's Affiliates of Confidential
Information would place the Balentine Entities, WTI, or WTI's

                                     -38-
<PAGE>
Affiliates at a serious competitive disadvantage and cause irreparable harm to
the business of the Balentine Entities, WTI or WTI's Affiliates.

         b.    Each Member acknowledges and agrees that "Confidential
Information" includes, without limitation:

               (1)  trade secrets relating to the business practices of the
Balentine Entities, WTI or WTI's Affiliates and other information pertaining to
the goodwill of the Balentine Entities, WTI or WTI's Affiliates and Clients and
WTI Clients;

               (2)  "non-public personal information," as that phrase is defined
in Section 509 of Title V of the Gramm-Leach-Bliley Act and federal Regulation P
promulgated thereunder by the Federal Reserve Board, of natural person Clients
or WTI Clients, except that, for purposes of this Agreement, such term shall
extend to all such clients, present and former. "Non-public personal
information" means (i) personally identifiable client financial information,
including, but not limited to, information provided to, or obtained by, the
Balentine Entities or WTI or its Affiliates confidentially or on a non-public
basis, and (ii) any list, description, or other grouping of clients (and
publicly available information pertaining to them) that is derived using any
personally identifiable financial information that is not publicly available;

               (3)  proprietary financial products of the Balentine Entities,
WTI or WTI's Affiliates, embodying the unique trade know-how and operational
methods of the Balentine Entities, WTI or WTI's Affiliates, and, without
limitation, all trade know-how, secrets, operational methods, pricing,
investment policies, procedures, personnel, concepts, format, style, techniques,
proprietary software, business strategies, client investment strategies and
other financial information, and other business affairs of the Balentine
Entities, WTI or WTI's Affiliates that are unique to the Balentine Entities, WTI
or WTI's Affiliates and are made known to or learned by such Member heretofore
or hereafter; and

               (4)  lists of WTI Clients.

         c.    Each Member acknowledges and agrees that (1) Confidential
Information is and shall remain the sole and exclusive property of the
appropriate Balentine Entity or WTI or its Affiliates, as the case may be, and
such Member does not have and shall not have any right, title or interest
therein by virtue of his or her status as an executive of the LLC or a Member,
and (2) Confidential Information is not readily accessible to competitors of the
Balentine Entities or WTI or its Affiliates, as the case may be.

         d.    By reason of Sections 11.1(a), (b) and (c) above, each Member
covenants that he or it shall not directly or indirectly, reveal, divulge or
make known to any Person other than the Balentine Entities, WTI, or WTI's
Affiliates or use for his own account, or for the account of any Person other
than the Balentine Entities, WTI, or WTI's Affiliates, (1) until such Member
ceases to be a Member and for a period of five years thereafter, any
Confidential Information relating to WTI or its Affiliates or WTI Clients; (2)
until such Member ceases to be a Member and

                                     -39-
<PAGE>
thereafter, any Confidential Information not permitted to be revealed,
divulged, or made known under the LLC's, WTI's, its Affiliates' or the
Balentine Entities' policies to comply with all applicable U.S. federal and
state privacy laws in effect, including, without limitation, Title V of the
Gramm-Leach-Bliley Act, the Fair Credit Reporting Act, and any and all
applicable regulations implementing either Act or successor Act; and (3) until
such Member ceases to be a Member and for a period of five years thereafter,
any Confidential Information not included in clauses (1) and (2) of this
subsection.

         e.    Each Principal (1) shall comply, until such Member ceases to be a
Member, with all reasonable procedures each Balentine Entity, WTI or one of its
Affiliates may adopt from time to time to preserve the confidentiality of the
Confidential Information; (2) acknowledges that the absence of any legend
indicating the confidentiality of any materials will not give rise to an
inference that the contents thereof or information derived therefrom are not
confidential; and (3) shall immediately following the termination of such
Principal's employment with or membership in the LLC return to each Balentine
Entity, WTI or such WTI Affiliate, as the case may be, all materials that
Balentine Entity or WTI or any of WTI's Affiliates provides such Principal
during the Term, all works created by such Principal or others in the course of
his, her, or their employment duties during the Term and all copies thereof.
Notwithstanding the foregoing, the limitations imposed on such Principal
pursuant to this Section 11.1 shall not apply to such Principal's (y) compliance
with legal process or subpoena, or (z) statements in response to inquiry from a
court or regulatory body; provided that, to the extent permitted by law, such
Principal gives the appropriate Balentine Entities, WTI or its Affiliates
reasonable prior written notice of that process, subpoena or request and uses
reasonable efforts to obtain confidential treatment of the Confidential
Information.

         Section 11.2. Non-Competition. With respect to a natural person
Principal, until the termination of a Principal's employment with the LLC and
each of its Subsidiaries (the "Restricted Period"), such Principal shall not,
for whatever reason, whether for his or her account or for the account of any
other Person, without the prior written consent of the LLC, as a shareholder,
employee, partner, member, board member, consultant, independent contractor,
representative or otherwise, engage in any business competitive with any
business conducted by the Balentine Entities or the Existing Funds at any time
during the Restricted Period, in the Metropolitan Statistical Areas of Atlanta,
Georgia, or Nashville, Tennessee (the "Restricted Area"); provided, however,
that Robert's Restricted Period shall extend until one year after the
termination of his employment with the LLC and each of its Subsidiaries.
Notwithstanding the foregoing, nothing herein shall prohibit such Principal from
being engaged in a competitive business during the Restricted Period if such
Principal is not providing to such competing business services comparable to
services provided to the LLC or from being a shareholder or equity holder in any
publicly-traded entity whose business is competitive with, the business
heretofore conducted, or conducted at any time during the Restricted Period and
in the Restricted Area, by the Balentine Entities or the Existing Funds, as long
as such Principal does not hold more than a three percent equity interest in
that publicly-traded entity, provided that an investment in WTC shall not come
within this limitation. Each Principal acknowledges that the Restricted Period
and the Restricted Area in this paragraph are appropriate given the unique
nature of the services he or she has provided and

                                     -40-
<PAGE>
will provide the Balentine Entities, and further acknowledges that his or her
fulfillment of the Restricted Period and Restricted Area in this Section 11.2
will not cause him or her substantial economic hardship and will not render him
or her unemployable within the investment management industry. The restrictions
set forth in this Section 11.2 shall not apply if Robert's employment with the
LLC and each of its Subsidiaries is terminated by the LLC and such Subsidiaries
without Cause or by Robert for Good Reason.

         Section 11.3. Non-Solicitation. Until one year after the date of
termination of each Principal's employment with the LLC and each of its
Subsidiaries, such Principal shall not, directly or indirectly, for whatever
reason, whether for his own account or the account of any Person, without the
prior written consent of the LLC:

         a.    solicit, either directly or indirectly, or otherwise induce or
attempt to induce any WTI Client whose residence or principal office is located
in Georgia, Tennessee, North Carolina, South Carolina, Alabama, Florida,
Delaware, Maryland, Pennsylvania, New York, Nevada or California, or any Client
whose residence or principal business office is located in Georgia, Tennessee,
North Carolina, South Carolina, Alabama or Florida to place any funds or
securities under management with any Person other than WTC, its Affiliates, the
Balentine Entities or the Existing Funds and will otherwise treat the list of
Clients as if it were Confidential Information; provided, however, that the
prohibition of this covenant shall apply only to such clients with whom the
Principal had Material Contact on the LLC's or one of its Subsidiaries' behalf
during the twelve (12) months immediately preceding the termination of his
employment. For purposes of this Agreement, a Principal has "Material Contact"
with such client if (1) he had business dealings with such client on the LLC's
or one of its Subsidiaries' behalf, (2) he was responsible for supervising or
coordinating the dealings between the LLC (or one of its Subsidiaries) and such
client, or (3) he obtained Confidential Information about such client as a
result of his association with the LLC or one of its Subsidiaries; or

         b.    solicit or hire any Person who is, or was during the 12 months
prior to the time of such Principal's termination of employment, employed by or
associated with a Balentine Entity, WTI or a WTI Affiliate as an executive,
officer, employee, manager, salesman, consultant, independent contractor,
representative or other agent or induce such Person to terminate his or her
employment relationship with any Balentine Entity or to enter into employment
with any other Person.

         The restrictions set forth in this Section 11.3 shall not apply if a
Principal's employment with the LLC and each of its Subsidiaries is terminated
by the LLC and such Subsidiaries without Cause or by such Member for Good
Reason.

         Nothing in Section 11.3(a) or (b) shall permit a Principal to use
Confidential Information made available by WTI or any of its Affiliates to the
Balentine Entities (including, without limitation, WTI Client lists) for any
purpose other than the pursuit of the Balentine Entities' business objectives or
those of WTI or its Affiliates.

                                     -41-
<PAGE>
         Section 11.4. Use of Performance Information. Each Principal covenants
that he or it will not, at any time after the date hereof, for whatever reason,
whether for his or its account or for the account of any other Person (other
than a Balentine Entity), publish any investment results or performance
information of a Balentine Entity or an Existing Fund (including, without
limitation, the investment performance of any accounts or groups of accounts for
which such Principal was a portfolio manager), in connection with any business
similar to, related to or in competition with the business conducted by a
Balentine Entity, unless such Principal refrains from taking any credit,
explicitly or implicitly, for the achievement of those results or performance.

         Section 11.5. Specific Performance.

         a.    The Members acknowledge that it is fair and reasonable that they
make the covenants and undertakings set forth above, and have done so with the
benefit of the advice of counsel. In addition, the Members acknowledge that any
breach or attempted breach by any of them of the provisions of this Article 11
will cause irreparable harm to WTI, its Affiliates and each Balentine Entity,
for which monetary damages will not be an adequate remedy. Accordingly, WTI, its
Affiliates and each Balentine Entity shall be entitled to apply for and obtain
injunctive relief (temporary, preliminary and permanent) to restrain the breach
or threatened breach of, or otherwise to specifically enforce, any provision of
this Article 11, without the requirement to post a bond or provide other
security. Nothing herein shall be construed as a limitation or waiver of any
other right or remedy that may be available to the WTI, its Affiliates or a
Balentine Entity for that breach or threatened breach. For emergency relief
(including temporary and preliminary injunctive relief), an application may be
made in any court of competent jurisdiction. The Members further agree that the
subject matter and duration of the restrictions covered herein are reasonable in
light of the facts as they exist today. If any restriction contained in this
Article 11 is deemed unreasonable by a court, it shall, to the extent permitted
by applicable law, be reduced to the maximum restriction that is enforceable
under such law.

         b.    The restrictions set forth in Section 11.1 shall apply to
Permitted Transferees who own LLC Interests.

         c.    If Principals exercise their purchase rights under
Section 7.5(b), then WTC and its Affiliates shall only be entitled to enforce
their rights under Article 11 with respect to Confidential Information relating
to WTC, one of its Affiliates (other than the LLC and its Subsidiaries) and WTI
Clients, and with respect to non-solicitation of WTI Clients and employees of
WTI or one of its Affiliates (other than the LLC and its Subsidiaries).

                                     -42-
<PAGE>
                                   ARTICLE 12
                                CERTAIN COVENANTS

         Section 12.1. Compliance with Laws; Maintenance.

         a.    The LLC and the Subsidiaries shall and the Board shall cause the
LLC to comply in all material respects with all laws and regulations applicable
to the LLC and the Subsidiaries (including, without limitation, all federal and
state laws and regulations relating to investment advisers and all laws and
regulations applicable to the LLC and the Subsidiaries as an Affiliate of a
bank, a thrift or a bank or thrift holding company.

         b.    The LLC and the Subsidiaries shall maintain in full force and
effect its limited liability company or other existence, rights and franchises
and all other rights, licenses and registrations owned or possessed by them.

         Section 12.2. Business Agreements.

         a.    Each Principal covenants that, from and after the date hereof,
the Existing Funds and all other private investment funds, if any, for which the
LLC or any Subsidiary serves as a general partner or managing member shall not
at any time own or otherwise control in the aggregate more than 5% of any class
of voting securities of any Person; provided that WTC agrees to use commercially
reasonable efforts to assist the LLC or any Subsidiary in reallocating any
shares in order to reduce or maintain its ownership or control under such
percentage.

         b.    (1) Subject to Section 5.13(d), to WTC's fiduciary and other
professional duties and to the requirements of law, WTC will refer to the LLC
and its Subsidiaries all New Business Opportunities that are derived from or
referred to WTC and its Affiliates (other than Cramer Rosenthal McGlynn, LLC and
Roxbury Capital Management, LLC) from within the States of Alabama, Georgia,
Mississippi, North Carolina, South Carolina and Tennessee. As provided in
Section 5.13(d)(14), the Board shall unanimously agree on which New Business
Opportunities the LLC should pursue and on a budget and business plan for the
implementation of any such New Business Opportunity. If all of the Managers
designated by the Principals vote to approve the New Business Opportunity
pursuant to Section 5.13(d)(14) but some or all of the Managers designated by
Balentine, WTC or their Affiliates do not, WTC and its Affiliates (other than
Cramer Rosenthal McGlynn, LLC and Roxbury Capital Management, LLC) will be
prohibited from pursuing the New Business Opportunity without again referring it
to the LLC and its Subsidiaries. If some or all of the Managers designated by
the Principals do not vote to approve the New Business Opportunity pursuant to
Section 5.13(d)(14), WTC and its Affiliates (other than Cramer Rosenthal
McGlynn, LLC and Roxbury Capital Management, LLC) will be permitted to pursue
the New Business Opportunity without again referring it to the LLC and its
Subsidiaries.

                                     -43-
<PAGE>
               (2) Each Member agrees that, from time to time as the LLC incurs
expenses relating to a New Business Opportunity, such Member shall, within 15
days of a written notice by the LLC (which notice will contain reasonable detail
of the net expenses of such New Business Opportunity), make an additional
capital contribution to the LLC in immediately available funds in an amount, in
the proportion that such Member's Membership Points bear to the total
outstanding Membership Points, of the net expenses set forth in such notice. For
these purposes, "net expenses" shall be all expenses less all revenue derived by
such New Business Opportunity. To the extent the LLC has Free Cash Flow on the
due date for any such additional capital contributions, the amount of the net
expenses set forth in such notice shall be paid out of such Free Cash Flow
instead of by the Members' making such contributions, and they shall be promptly
notified thereof.

               (3) WTC will also, at all times consistent with its fiduciary and
other professional duties and subject to the requirements of law in appropriate
circumstances, work cooperatively with the LLC to make available the LLC's
services to a prospective client of WTC or one of its Affiliates whose residence
or principal business office is located in the States of Alabama, Georgia,
Mississippi, North Carolina, South Carolina or Tennessee and whose needs include
services the LLC provides, unless such prospective client makes an unsolicited
request not to be referred to the LLC.

               (4) WTC will use its reasonable best efforts to cause Wilmington
Trust FSB to open a trust and/or banking office in Atlanta and to place the
office in the same space as is presently used by the LLC if commercially
feasible. If such office is in the space presently used by the LLC, Wilmington
Trust FSB will be responsible for its pro rata share of rent and related
expenses based on the percent of square footage occupied by Wilmington Trust
FSB. WTC will cause the Chief Executive Officer of the LLC to be appointed an
officer of Wilmington Trust FSB and cause the other Wilmington Trust FSB staff
in such office to report to such officer. The Wilmington Trust FSB officers and
employees and the LLC's officers and employees will use reasonable best efforts
to coordinate marketing and client development programs and services.

               (5) WTC will make available on a nationwide basis in the United
States the LLC's Subsidiaries' expertise in their manager of managers program,
including in connection therewith asset allocation modeling, asset rebalancing
strategies and manager evaluation and selection. WTC may access this expertise
through client investment in the LLC's Subsidiaries' investment funds,
proprietary WTC investment funds managed by those Subsidiaries, client
customized investment funds managed by those Subsidiaries and/or
non-discretionary advisory services of those Subsidiaries. Accordingly, WTC will
work cooperatively with those Subsidiaries to use their know how and the
services of their officers and employees to provide advice and assistance
relating to the manager of managers program and will pay to the appropriate
Subsidiary a fee for such services and know how as may be agreed by WTC and the
LLC from time to time. The Principals agree to cause those Subsidiaries to use
their reasonable best efforts to meet the reasonable needs of WTC in connection
with the use of the expertise and a condition of WTC's continued use of the
Subsidiaries will depend on those Subsidiaries' meeting commercially reasonable
service levels and performance standards. It is intended that

                                     -44-
<PAGE>
the service levels and performance standards will be discussed by WTC and the
LLC from time to time and will be adjusted from time to time on a mutual basis.

               (6) WTC will provide to the LLC's Subsidiaries client related
services that are available for the use of WTC's other asset management
affiliates, including external asset management, custom-built insurance
products, and marketing materials on a reasonable and fair basis and cost. WTC
will also make available the full array of support services on the same basis as
are made available to its other affiliated asset managers, including internal
asset management, human resources, marketing, financial reporting, tax and
estate planning, compliance and information technology, as the LLC may request
from time to time.

               (7) The LLC shall have the right to elect, on or prior to six
months after the Closing Date, to have the officers and employees of the LLC and
its Subsidiaries participate in some or all WTC's then-existing employee benefit
plans (other than the Wilmington Trust profit sharing plan or bonus or incentive
plans) at the LLC's cost; provided, however, that (i) once the election to
participate or not participate in a particular plan is made it cannot be changed
without WTC's written consent, which shall not be unreasonably withheld, (ii)
such officers and employees are otherwise eligible to participate in such plans
in accordance with their terms, (iii) nothing herein shall entitle such an
officer or employee to participate in a plan where participation is not based
solely on eligibility criteria set forth in the plan and (iv) WTC acknowledges
that there will be no cost to the LLC for WTC stock options granted to officers
and employees of the LLC or its Subsidiaries. With respect to the WTC employee
benefit plans, for all purposes, except for the computation of the benefits
under defined benefit plans, WTC agrees that years of service with any Balentine
Entities shall be deemed to be years of service with WTC. The LLC shall have a
reasonable opportunity to participate in any new employee benefit plans made
available to WTC's employees generally.

                                   ARTICLE 13
                    DISSOLUTION, LIQUIDATION AND TERMINATION

         Section 13.1. No Dissolution. The LLC shall not be dissolved by the
admission of additional Members in accordance with the terms hereof.

         Section 13.2. Events Causing Dissolution. The LLC shall be dissolved
and its affairs shall be wound up upon the occurrence of any of the following
events:

         a.    The determination of the Board and the vote of Members holding
90% or more of the Membership Points;

         b.    The occurrence of a Realization Event; or

         c.    The entry of a decree of judicial dissolution under Section
18-802 of the Delaware Act.

                                     -45-
<PAGE>
         Section 13.3. Notice of Dissolution. Upon the LLC's dissolution, the
person or persons appointed to carry out the winding up of the LLC (the
"Liquidating Trustee") shall promptly notify the Members of that dissolution.

         Section 13.4. Liquidation. Upon dissolution of the LLC:

         a.    The proceeds of liquidation shall be distributed, as realized, in
the following order and priority:

               (1)  First, to the LLC's creditors, including Members who are
         creditors and the Liquidating Trustee, to the extent otherwise
         permitted by law, in satisfaction of the LLC's liabilities (whether by
         payment or making reasonable provision for payment thereof), other than
         liabilities for distributions to Members;

               (2)  Next, to Balentine up to the Base Valuation, which amount
         shall be subtracted from its Capital Account balance;

               (3)  Next, to all Members, up to the amount of their Capital
         Account balances, in proportion thereto; and

               (4)  The remainder, to all Members in proportion to their
         respective Membership Points.

         b.    If the Liquidating Trustee determines that it is not feasible to
liquidate all of the LLC's assets, then the Liquidating Trustee (1) shall cause
the Fair Market Value of the assets not so liquidated to be determined and (2)
shall distribute such assets in kind to the Members pursuant to Section 13.4(a).
For purposes of such section, a distribution of any such asset in kind to a
Member shall be considered a distribution of an amount equal to such asset's
Fair Market Value as of the date of distribution thereof. Each such asset shall
be treated as if it was sold for such Fair Market Value, and the resulting
Profits or Losses shall be allocated among the Members in accordance with
Article 6.

         Section 13.5. Termination. The LLC shall terminate when all of its
assets, after payment of or provision for all of its debts, liabilities and
obligations, have been distributed to the Members as provided for in this
Article 13, and the Certificate has been canceled in the manner required by the
Delaware Act.

         Section 13.6. Claims of the Members. For purposes of this Article 13,
the Members shall look solely to the LLC's assets for the return of their
capital contributions. If the assets of the LLC remaining after payment of or
provision for all of the LLC's debts, liabilities and obligations are
insufficient to return those capital contributions, the Members shall have no
recourse against the LLC or any other Member.

                                     -46-
<PAGE>
                                   ARTICLE 14
                         REPRESENTATIONS AND WARRANTIES

         Section 14.1. Representations and Warranties of Natural Person
Principals. Each Principal who is a natural person hereby represents and
warrants to Balentine, the other Principals and the LLC with respect to himself:

         a.    He has full legal capacity and authority to execute, deliver and
perform his obligations hereunder. This Agreement has been duly executed and
delivered by him and constitutes his legal, valid and binding obligation,
enforceable against him in accordance with its terms, except as may be limited
by (x) bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance and fraudulent transfer or similar laws now or hereafter relating to
creditors' rights generally or (y) general principles of equity, whether
asserted in a proceeding in equity or at law.

         b.    No approval, authorization, consent, license, clearance or order
of, declaration or notification to, or filing, registration or compliance with,
any government or regulatory authority that has not been obtained is required to
permit him to enter into this Agreement.

         Section 14.2. Representations and Warranties of Balentine, WTI and WTC.
Each of Balentine, WTI and WTC hereby represents and warrants to the Principals
and the LLC on behalf of itself:

         a.    It is an entity duly organized, validly existing and in good
standing under Georgia law in the case of Balentine and Delaware law in the case
of WTI and WTC, and has all requisite corporate power and authority to own,
lease and operate its properties and carry on its business as now being
conducted.

         b.    It has all requisite corporate power and authority to execute,
deliver and perform its obligations hereunder. The execution, delivery and
performance hereof and the consummation of the transactions contemplated hereby
have been duly approved and authorized by all necessary corporate action of
Balentine, WTI or WTC, as the case may be. This Agreement has been duly executed
and delivered by Balentine, WTI or WTC, as the case may be, and constitutes the
legal, valid and binding obligation of Balentine, WTI or WTC, as the case may
be, enforceable against it in accordance with its terms, except as may be
limited by (x) bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance and fraudulent transfer or similar laws now or hereafter relating to
creditors' rights generally or (y) general principles of equity, whether
asserted in a proceeding in equity or at law.

         c.    No approval, authorization, consent, license, clearance or order
of, declaration or notification to, or filing, registration or compliance with,
any governmental or regulatory authority that has not been obtained is required
in order to permit Balentine, WTI or WTC, as the case may be, to enter into this
Agreement.

                                     -47-
<PAGE>
         Section 14.3. Representations and Warranties of the Family Trust and
the Insurance Trust. Each of the Family Trust and the Insurance Trust (each, a
"Trust") hereby represents and warrants to the other Principals, Balentine and
the LLC on behalf of itself:

         a.    It is an entity duly organized and validly existing under Georgia
law, and has all requisite power and authority to enter into this Agreement
under the terms of its trust instrument and other organizational documents.

         b.    This Agreement has been duly executed and delivered by such Trust
and constitutes the legal, valid and binding obligation of such Trust,
enforceable against it in accordance with its terms, except as may be limited by
(x) bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance
and fraudulent transfer or similar laws now or hereafter relating to creditors'
rights generally or (y) general principles of equity, whether asserted in a
proceeding in equity or at law.

         c.    No approval, authorization, consent, license, clearance or order
of, declaration or notification to, or filing, registration or compliance with,
any governmental or regulatory authority that has not been obtained is required
in order to permit such Trust to enter into this Agreement.

         Section 14.4. Representations and Warranties of All Members. Each
Member hereby represents and warrants to the LLC and each other Member and
acknowledges that (1) he or it has such knowledge and experience in financial
and business matters that he or it is capable of evaluating the merits and risks
of an investment in the LLC and making an informed investment decision with
respect thereto, (2) he or it is able to bear the economic and financial risk of
an investment in the LLC for an indefinite period of time, (3) he or it is
acquiring an interest in the LLC for investment only and not with a view to, or
for resale in connection with, any distribution to the public, (4) the LLC
Interests have not been registered under the securities laws of any jurisdiction
and cannot be disposed of unless they are subsequently registered and/or
qualified under applicable securities laws and the provisions of this Agreement
have been complied with and (5) the execution, delivery and performance of this
Agreement by him or it do not require him or it to obtain any consent or
approval that has not been obtained, and do not contravene or result in a
default under any existing law or regulation applicable to him or it, or any
agreement or instrument to which he or it is a party or by which he or it is
bound.

                                   ARTICLE 15
                                 MISCELLANEOUS

         Section 15.1. Amendments. Except as provided otherwise herein, any
amendment to this Agreement shall be adopted and be effective as an amendment
hereto if it is approved by all Members in writing.

                                     -48-
<PAGE>
         Section 15.2. Power of Attorney and Other Authorizations.

         (a)   Each Member hereby constitutes and appoints the LLC's Chief
Executive Officer as the true and lawful representative and attorney-in-fact of
that Member, in his or its name, place and stead, to make, execute, sign and
file any amendment to the Certificate and other instruments, documents and
certificates that may from time to time be required by the laws of the United
States of America, the State of Delaware, any other state or country or any
political subdivision or agency thereof, in which the LLC does business to
effectuate, implement and continue the valid and subsisting existence or
qualification to do business of the LLC or in connection with any tax returns,
filings or related matters, in each case consistent with the provisions hereof.
Each Member acknowledges that such appointment is coupled with an interest. The
Board may at any time replace the LLC's Chief Executive Officer with another
individual as attorney-in-fact if the Board determines that a replacement would
be in the LLC's best interests.

         (b)   Each Principal has appointed Robert as his or its representative,
agent, and attorney-in-fact ("Principals' Representative") pursuant to an
agreement in the form of Exhibit 13.15 to the Merger Agreement ("Principals'
Representative Agreement") and has provided to the Principals' Representative
the full legal authority, capacity, and power to act on behalf of such Principal
with respect to any matters arising under this Agreement or in connection
therewith. Balentine, WTI, WTC and their Permitted Transferees and Affiliates
shall be entitled to rely, and shall in no way be liable for relying, on the
full legal authority, capacity, and power of Robert to act on behalf of each
Principal with respect to any matters arising under this Agreement or in
connection therewith without further inquiry, and each Principal shall hold each
of Balentine, WTI, WTC and their Permitted Transferees and Affiliates harmless
from any liability or loss arising out of the reliance by any of them on that
power-of-attorney. If the Principals, by Majority Vote, provide WTI, WTC and
their Permitted Transferees and Affiliates with 30 days' notice that Robert has
been terminated as Principals' Representative, WTI, WTC and their Permitted
Transferees and Affiliates shall cease to rely on Robert as Principals'
Representative and shall rely on any successor Principals' Representative who
such Principals so designate as the new "Principals' Representative."

         Section 15.3. Notices.

         a.    All notices, requests, demands and other communications required
or permitted hereunder shall be in writing and shall be sent as provided below:

                                     -49-
<PAGE>
         (1)      If to Balentine, to:

                  Balentine Holdings, Inc.
                  c/o WT Investments, Inc.
                  Rodney Square North
                  1100 North Market Street
                  Wilmington, DE 19890
                  Attention:        David R. Gibson
                                    Senior Vice President

                  with a copy to:

                  WT Investments, Inc.
                  Rodney Square North
                  1100 North Market Street
                  Wilmington, DE  19890
                  Attention:        Gerard A. Chamberlain, Esquire
                                    Secretary

         (2)      If to the LLC, to:

                  Balentine Delaware Holding Company, LLC
                  3455 Peachtree Road
                  Suite 2000
                  Atlanta, GA  30326
                  Attention:        Robert M. Balentine

                  with a copy to:

                  Alston & Bird
                  1201 West Peachtree Street
                  Atlanta, GA  30309
                  Attention:        B. Harvey Hill, Jr., Esquire

         (3)      If to a Principal, to that Principal's attention at:

                  Balentine Delaware Holding Company, LLC
                  3455 Peachtree Road
                  Suite 2000
                  Atlanta, GA  30326

                                     -50-
<PAGE>
                  with a copy to:

                  Alston & Bird
                  1201 West Peachtree Street
                  Atlanta, GA  30309
                  Attention:  B. Harvey Hill, Jr., Esquire

         b.  All notices and other communications required or permitted
hereunder addressed as provided in this Section 15.3: (1) shall be effective
upon delivery if delivered personally against proper receipt and (2) shall be
effective upon receipt if sent by (A) certified or registered mail with postage
prepaid or (B) Federal Express or similar courier service with courier fees paid
by the sender. The parties hereto may change their respective addresses for the
purposes of notices to that party from time to time by a similar notice
specifying a new address. No such change shall be deemed to have been given
unless it has been sent and received in accordance with this Section 15.3.

         Section 15.4. Waivers. Any waiver of any term or condition or of the
breach of any covenant, representation or warranty hereof in any one instance
shall not operate as or be deemed to be or construed as a further or continuing
waiver of any other breach of that term, condition, covenant, representation or
warranty or any other term, condition, covenant, representation or warranty. No
failure or delay at any time or times to enforce or require performance of any
provision hereof shall operate as a waiver of or affect in any manner a party's
right at a later time to enforce or require performance of that provision or of
any other provision hereof; provided that no such waiver, unless by its terms it
explicitly provides to the contrary, shall be construed to effect a continuing
waiver of the provision being waived. No such waiver in any instance shall
constitute a waiver in any other instance or for any other purpose or impair the
right of the party against whom that waiver is claimed in all other instances or
for all other purposes to require full compliance.

         Section 15.5. Binding Effect. This Agreement shall be binding upon and
inure to the benefit of the parties hereto and, to the extent permitted by this
Agreement, their heirs, legal representatives, successors and assigns.

         Section 15.6. Severability. The invalidity or unenforceability of any
particular nonmaterial provision hereof shall not affect the other provisions
hereof, and this Agreement shall be construed in all respects by interpreting
that invalid or unenforceable provision as nearly to the original meaning as
possible so as to make it valid and enforceable or, if that is not possible or
permitted by applicable law, by omitting that invalid or unenforceable
provision. To the extent any material provision hereof is determined by a court
or regulatory body to be invalid or unenforceable, the parties shall use their
good faith efforts to address the implications of that invalidity or
unenforceability to preserve the essential understanding of the parties with
respect hereto.

                                     -51-
<PAGE>
         Section 15.7. Counterparts. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

         Section 15.8. Governing Law. This Agreement shall be construed under
and governed by Delaware law, without giving effect to the choice or conflicts
of law provisions thereof. Each of WTC, WTI and Balentine hereby agrees to
submit to the jurisdiction of the courts of the State of Georgia and the courts
of the United States of America located in the Northern District in the State of
Georgia in any action or proceeding arising out of or relating to this
Agreement. Each of the Principals and the LLC hereby agrees to submit to the
jurisdiction of the courts of the State of Delaware and to the courts of the
United States of America located in Delaware in any action or proceeding arising
out of or relating to this Agreement.

         Section 15.9. Captions. The captions in this Agreement are for
convenience only and shall not affect the construction or interpretation of any
term or provision hereof.

         Section 15.10. Gender. Whenever used herein, the singular number shall
include the plural, the plural shall include the singular, unless the context
otherwise requires, and the use of any gender shall include all genders.

         Section 15.11. Third Party Beneficiaries. No person who is not a party
to this Agreement shall be entitled to any rights or benefits hereunder;
provided, however, that WTI's Affiliates, each Balentine Entity and each
Subsidiary is a third-party beneficiary of Sections 11.1, 11.3 and 11.5.

         Section 15.12. Remedies Cumulative. The rights and remedies provided
herein are cumulative, and the use of any one right or remedy by any party shall
not preclude or waive its right to use any and all other remedies.

         Section 15.13. Integration. This Agreement (as it may be amended from
time to time) and the exhibits and schedules hereto constitute the entire
agreement among the parties hereto with respect to the subject matter hereof and
supersede all prior agreements and understandings, oral or written, express or
implied, with respect thereto.

                                     -52-
<PAGE>
                       THIS PAGE LEFT INTENTIONALLY BLANK

                                     -53-
<PAGE>
         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first written above.

                             /s/ Robert M. Balentine                   (SEAL)
                             ------------------------------------------
                             ROBERT M. BALENTINE

                             /s/ B. Clayton Rolader                    (SEAL)
                             ------------------------------------------
                             B. CLAYTON ROLADER

                             /s/ Jeffrey P. Adams                      (SEAL)
                             ------------------------------------------
                             JEFFREY P. ADAMS

                             /s/ Robert E. Reiser, Jr.                 (SEAL)
                             ------------------------------------------
                             ROBERT E. REISER, JR.

                             /s/ Gary B. Martin                        (SEAL)
                             ------------------------------------------
                             GARY B. MARTIN

                             /s/ Wesley A. French                      (SEAL)
                             ------------------------------------------
                             WESLEY A. FRENCH

                             /s/ Michael E. Wolf                       (SEAL)
                             ------------------------------------------
                             MICHAEL E. WOLF

                                     -54-
<PAGE>
                             THE 1999 BALENTINE FAMILY TRUST

                             By: /s/ Jeffrey P. Adams, Trustee
                                 -----------------------------------------------
                                   (Authorized Signer)

                             By: /s/ Elizabeth G. Balentine, Trustee
                                 -----------------------------------------------
                                   (Authorized Signer)

                             THE ROBERT M. BALENTINE INSURANCE TRUST

                             By: /s/  Lillian A. Balentine Law, Trustee
                                 -----------------------------------------------
                                   (Authorized Signer)

                             BALENTINE HOLDINGS, INC.

                             By:  /s/ Jeffrey P. Adams
                                ------------------------------------------------
                                      Title:  Executive Vice President

                             WT INVESTMENTS, INC.

                             By:  /s/ David R. Gibson
                                  ----------------------------------------------
                                      Title:  Senior Vice President

                                     -55-
<PAGE>
                             WILMINGTON TRUST CORPORATION

                             By:      /s/  David R. Gibson
                                ------------------------------------------------
                                      Title:  Senior Vice President

                                     -56-<PAGE>

          AGREEMENT FOR THE SALE AND PURCHASE OF SPV MANAGEMENT LIMITED
          DATED JANUARY 1, 2002 BY AND AMONG ANTHONY FRANCIS RAIKES AND
              PIERS MINOPRIO AND WILMINGTON TRUST (UK) LIMITED AND
                          WILMINGTON TRUST CORPORATION

                                  EXHIBIT 10.53
<PAGE>
                    ANTHONY FRANCIS RAIKES AND PIERS MINOPRIO

                                       AND

                          WILMINGTON TRUST (UK) LIMITED

                                       AND

                          WILMINGTON TRUST CORPORATION

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

                   AGREEMENT FOR THE SALE AND PURCHASE OF SPV
                               MANAGEMENT LIMITED

       --------------------------------------------------------------------
<PAGE>
                                    CONTENTS

<TABLE>
<CAPTION>
Clause                                                                                                Page

<S>    <C>                                                                                            <C>
1.     Conditionality/Interpretation................................................................   3
2.     Sale And Purchase............................................................................   8
3.     Conditions...................................................................................   9
4.     Completion...................................................................................  11
5.     Issue Of Interim And Final Loan Notes........................................................  13
6.     Escrow Account...............................................................................  13
7.     Warranties And Pre-Completion Conduct........................................................  16
8.     The Buyers Remedies..........................................................................  17
9.     Limitations On The Seller's Liability........................................................  18
10.    Use Of Intellectual Property Rights..........................................................  24
11.    Further Undertakings By The Sellers..........................................................  24
12.    Confidential Information.....................................................................  26
13.    Guarantor's Obligations......................................................................  26
14.    Announcements................................................................................  28
15.    Costs........................................................................................  28
16.    General......................................................................................  28
17.    Set-Off......................................................................................  29
18.    Entire Agreement.............................................................................  29
19.    Assignment...................................................................................  30
20.    Notices......................................................................................  30
21.    Governing Law And Jurisdiction...............................................................  32
22.    Counterparts.................................................................................  33

Schedule 1           THE SELLERS....................................................................

Schedule 2           INFORMATION ABOUT THE COMPANY AND THE SUBSIDIARY UNDERTAKINGS..................

Schedule 3           REVENUE PERFORMANCE PREMIUM....................................................

Schedule 4           COMPLETION REQUIREMENTS........................................................

Schedule 5           PART 1 - WARRANTIES............................................................
Schedule 5           Part 2 - WARRANTIES............................................................

SCHEDULE 7           REAL PROPERTY..................................................................
</TABLE>
<PAGE>
SCHEDULE 8           REGISTERED INTELLECTUAL PROPERTY RIGHTS

APPENDIX ONE

The Accounts

APPENDIX TWO (INCORPORATED FOR INFORMATION PURPOSES ONLY)

Agreement for the Sale and Purchase of SPV Management Limited between Martin
McDermott and James Patrick Johnston Fairrie and Wilmington Trust (UK) Limited
and Wilmington Trust Corporation.

AGREED FORM DOCUMENTS

1.   Tax Deed

2.   Employment Agreements

3.   Raikes Services Agreement

4.   Irrevocable power of attorney in relation to the Shares

                                      -2-
<PAGE>
THIS AGREEMENT is made on 25 January 2002

BETWEEN:

(1)     ANTHONY FRANCIS RAIKES ("AFR") AND PIERS MINOPRIO ("PM") (each, a
        "SELLER" and together, the "SELLERS"); and

(2)     WILMINGTON TRUST (UK) LIMITED, a company incorporated in England and
        Wales (registered no. 04330127) whose registered office is at 200
        Aldersgate Street, London EC1A 4JJ, England (the "BUYER"); and

(3)     WILMINGTON TRUST CORPORATION, a corporation incorporated in the State of
        Delaware whose principal place of business is at Rodney Square North,
        1100 North Market Street, Wilmington, Delaware (the "GUARANTOR").

THE PARTIES AGREE as follows:

1.      CONDITIONALITY/INTERPRETATION

1.1     Clauses 1, 3, 7, 8, 9, 10, 11.1.6, 12-16, and 18-22 of this Agreement
        shall be immediately effective and enforceable.

1.2     The remaining clauses of this Agreement are conditional upon
        satisfaction of (or where permitted waiver of) the conditions set out in
        clause 3 on or before the times specified therein.

1.3     In this Agreement:

        "ACCOUNTS" means the accounts set out in the Appendix;

        "ACT" means the Companies Act 1985;

        "BUSINESS DAY" means a day other than a Saturday or Sunday or public
        holiday in England and Wales or the United States of America;

        "BUYER'S GROUP UNDERTAKING" means the Buyer or an undertaking which is,
        on the date of this Agreement, a subsidiary undertaking or parent
        undertaking of the Buyer or a subsidiary undertaking of a parent
        undertaking of the Buyer;

        "BUYER'S SOLICITORS" means Clifford Chance Limited Liability Partnership
        of 200 Aldersgate Street, London EC1A 4JJ;

        "COMPANY", other than when used in part 1 of schedule 5, means SPV
        Management Limited, a company incorporated in England and Wales
        (registered number 02548079), whose registered office is at 78 Cannon
        Street, London EC4P 5LN;

        "COMPLETION" means completion of the sale and purchase of the Shares in
        accordance with this Agreement;

        "COMPLETION DATE" means the date which is five Business Days after the
        date (not being later than the ninetieth day after today's date) on
        which the last of the Conditions to be satisfied or waived is satisfied
        or waived, other than the Conditions in clauses 3.1.2 and 3.1.9;

                                      -3-
<PAGE>
        "CONDITION" means a condition set out in clause 3.1 and "Conditions"
        means all those conditions;

        "CONFIDENTIAL INFORMATION" means all information which is used in or
        otherwise relates to a Group Company's business, customers or financial
        or other affairs including, without limitation, information relating to:

        (a)       the marketing of goods or services including, without
                  limitation, customer names and lists and other details of
                  customers, sales targets, sales statistics, market share
                  statistics, prices, market research reports and surveys, and
                  advertising or other promotional materials; or

        (b)       future projects, business development or planning, commercial
                  relationships and negotiations;

        but does not include information which is already publicly known or
        becomes publicly known (other than as a result of, a breach of this
        Agreement by either of the Sellers);

        "DISCLOSURE LETTER" means the letter from the Sellers to the Buyer in
        relation to the Warranties including for the avoidance of doubt all
        annexes thereto having the same date as this Agreement the receipt of
        which has been acknowledged by the Buyer;

        "EMPLOYMENT AGREEMENTS" means the employment agreements between the
        Company and each of James Fairrie and Martin McDermott in the Agreed
        Form;

        "ENCUMBRANCE" means a mortgage, charge, pledge, lien, option,
        restriction, right of first refusal, right of pre-emption, third-party
        right or interest, other encumbrance or security interest of any kind,
        or another type of preferential arrangement (including, without
        limitation, a title transfer or Escrow arrangement) having similar
        effect;

        "ENRON SPVS" means Northern Gas Processing Limited, Omegron Limited and
        Teesside Investments Limited;

        "ESCROW ACCOUNT" means the account referred to in clause 6;

        "ESCROW AMOUNT" means the monies from time to time held in the Escrow
        Account;

        "ESCROW AGENTS" means Clifford Chance Limited Liability Partnership of
        200 Aldersgate Street, London EC1A 4JJ and Eversheds of 85 Queen
        Victoria Street, London EC4V 4JL;

        "ESCROW LETTER" means the letter in relation to the Escrow Account from
        the Escrow Agents to the Buyer and the Sellers in a form to be agreed
        between the parties within thirty days of today's date on terms
        consistent with this Agreement;

        "ESCROW LOAN NOTES" means loan notes in such form as AFR may reasonably
        request which shall have a face value of [pound][*] and carry interest
        at 1% a year and which shall be non qualifying corporate bonds. Such
        notes shall be subject to rights of set off for valid claims made under
        this Agreement and provide for redemption as follows:

        [pound][*] plus interest of [pound][*] on the first anniversary of
        Completion;

* CONFIDENTIAL TREATMENT REQUESTED

                                      -4-
<PAGE>
        [pound][*] plus interest of [pound][*] on the second anniversary of
        Completion;

        [pound][*] plus interest of [pound][*] on the third anniversary of
        Completion.

        "EVENT" has the meaning given to it in the Tax Deed;

        "FINAL LOAN NOTES" means the loan notes in such form as the Sellers may
        reasonably request which shall carry interest at LIBOR and can be
        redeemable on or anytime after six months from their date of issue and
        which shall be non-qualifying corporate bonds with an aggregate face
        value of up to [pound][*] to be issued by the Buyer to the Sellers
        within 5 Business Days of finalisation of the SPV Revenue Certificate
        (as defined in Schedule 3) in respect of the Financial Year ending 31st
        December 2004 in the proportions set out in Schedule 1;

        "GROUP" means the Company and each Subsidiary Undertaking;

        "GROUP COMPANY" means the Company or a Subsidiary Undertaking;

        "INTELLECTUAL PROPERTY" means:

        (a)      patents, trade marks, service marks, registered designs,
                 applications and rights to apply for any of those rights,
                 trade, business and company names, internet domain names and
                 e-mail addresses, unregistered trade marks and service marks,
                 copyrights, database rights, rights in software, know-how,
                 rights in designs and inventions;

        (b)      rights under licences, consents, orders, statutes or otherwise
                 in relation to a right in paragraph (a);

        (c)      rights of the same or similar effect or nature as or to
                 those in paragraphs (a) and (b) which now or in the future may
                 subsist; and

        (d)      the right to sue for past infringements of any of the
                 foregoing rights;

        "INTELLECTUAL PROPERTY RIGHTS" means all Intellectual Property owned,
        used or required to be used by a Group Company;

        "INTERIM LOAN NOTES" means the loan notes in such form as the Sellers
        may reasonably request which shall carry interest at LIBOR and can be
        redeemable on or anytime after six months from their date of issue and
        which shall be non-qualifying corporate bonds with an aggregate face
        value of up to [pound][*] to be issued by the Buyer to the Sellers
        within 5 Business Days of finalisation of the SPV Revenue Certificate
        (as defined in Schedule 3) in respect of the Financial Year ending 31st
        December 2003 in the proportions set out in Schedule 1;

        "LAST ACCOUNTING DATE" means 31 December 2000;

        "LOAN NOTES" means the Escrow Loan Notes, the Interim Loan Notes and the
        Final Loan Notes;

        "MATERIAL ADVERSE EFFECT" means a material adverse effect on the
        condition (financial, legal or business) or future prospects of the
        Group and, without limitation to the

* CONFIDENTIAL TREATMENT REQUESTED

                                      -5-
<PAGE>
        generality of the foregoing, shall include an impairment of the Group's
        capacity to conduct business in any material respect as it was conducted
        before the occurrence of the Material Adverse Effect;

        "MATERIAL SPV CLIENT" means First Active Financial plc, First Active plc
        and Anthea srl;

        "PERMIT" means:

        (a)       a permit, licence, consent, approval, certificate,
                  qualification, specification, registration or other
                  authorisation; or

        (b)       a filing of a notification, report or assessment,

        in each case necessary for the effective operation of a Group Company's
        business, its ownership, possession, occupation or use of an asset or
        the execution or performance of this Agreement;

        "PREFERENCE SHARES" means 25,000 fully paid preference shares of
        [pound]1 each of the Company having the rights set out in the articles
        of association of the Company;

        "PROPERTY" means the property or properties details of which are set out
        in schedule 6 and includes an individual property and a part of an
        individual property;

        "RAIKES OPTIONS" means the share options over 3,750 ordinary shares of
        [pound]1 each in the capital of the Company granted on 25 January 2002
        to Martin McDermott and James Fairrie;

        "RAIKES SERVICES AGREEMENT" means the agreement in the Agreed Form
        between the Buyer and AFR as modified or extended in writing from time
        to time;

        "RELEVANT CLAIM" means a Warranty Claim, or a claim by the Buyer under
        clause 7.7.2 or under the Tax Deed;

        "RELEVANT PROPORTIONS" means 87% in respect of AFR and 13% in respect of
        PM;

        "RELIEF" has the meaning given to it in the Tax Deed;

        "RESTRICTED PERIOD" means the period commencing on the Completion Date
        and ending on the fourth (4th) anniversary of the Completion Date;

        "SECOND DISCLOSURE LETTER" means the letter or letters (if any) given by
        the Sellers to the Buyer prior to Completion in relation to the
        Warranties repeated immediately prior to Completion;

        "SHARES" means the ordinary shares of [pound]1, comprising the whole
        of the allotted and issued share capital of the Company other than those
        subject to the Raikes Options;

        "SPV CORE BUSINESS" means the provision of directors, secretaries, and
        registered offices for special purpose companies in the European
        securitisation market;

                                      -6-
<PAGE>
        "SPV REVENUE" means the consolidated revenue of the Group calculated in
        accordance with Schedule 3;

        "STATUTORY ACCOUNTS" means the accounts referred to in clause 3.1.7;

        "STATUTORY ACCOUNTS DATE" means 31 March 2002;

        "SUBSIDIARY UNDERTAKING" means a subsidiary undertaking of the Company
        listed in part B of schedule 2 (and in relation to Schedule 3 any new
        subsidiary undertaking of the Company acquired or formed after today's
        date for the purposes of carrying on the SPV Core Business) and
        "Subsidiary Undertakings" means all those subsidiary undertakings;

        "TAX" has the meaning given in the Tax Deed;

        "TAX AUTHORITY" has the meaning given in the Tax Deed;

        "TAX DEED" means the tax deed in the Agreed Form between the Sellers and
        the Buyer;

        "TAXES ACT" means the Income and Corporation Taxes Act 1988;

        "TCGA" means the Taxation of Chargeable Gains Act 1992;

        "US GAAP" means the applicable accounting standards, principles and
        practices generally accepted in the United States of America;

        "VATA" means, in the United Kingdom, the Value Added Tax Act 1994 and,
        in a jurisdiction outside the United Kingdom, any equivalent
        legislation;

        "WARRANTY" means a statement contained in schedule 5 and "WARRANTIES"
        means all those statements; and

        "WARRANTY CLAIM" means a claim by the Buyer under or pursuant to the
        provisions of clause 7.1.

1.4     In this Agreement, a reference to:

        1.4.1     a "SUBSIDIARY UNDERTAKING" or "PARENT UNDERTAKING" is to be
                  construed in accordance with section 258 of the Act and to a
                  "SUBSIDIARY" or "HOLDING COMPANY" is to be construed in
                  accordance with section 736 of the Act;

        1.4.2     liability under, pursuant to or arising out of (or any
                  analogous expression) any agreement, contract, deed or other
                  instrument includes a reference to contingent liability under,
                  pursuant to or arising out of (or any analogous expression)
                  that agreement, contract, deed or other instrument;

        1.4.3     a document in the "AGREED FORM" is a reference to a document
                  in a form approved and either signed by the each relevant
                  party or initialled by or on behalf of each party;

        1.4.4     a statutory provision includes a reference to the statutory
                  provision as modified or re-enacted or both from time to time
                  before the date of this Agreement and

                                      -7-
<PAGE>
                  any subordinate legislation made under the statutory provision
                  (as so modified or re-enacted) before the date of this
                  Agreement;

        1.4.5     a "PERSON" includes a reference to any individual, firm,
                  company, corporation or other body corporate, government,
                  state or agency of a state or any joint venture, association
                  or partnership, works council or employee representative body
                  (whether or not having separate legal personality);

        1.4.6     a person includes a reference to that person's legal personal
                  representatives, successors and permitted assigns;

        1.4.7     a "PARTY" includes a reference to that party's successors and
                  permitted assigns;

        1.4.8     a clause, paragraph or schedule, unless the context otherwise
                  requires, is a reference to a clause or paragraph of, or
                  schedule to, this Agreement;

        1.4.9     any English legal term for any action, remedy, method of
                  judicial proceeding, legal document, legal status, court,
                  official or any legal concept or thing shall in respect of any
                  jurisdiction other than England be deemed to include what most
                  nearly approximates in that jurisdiction to the English legal
                  term and to any English statute shall be construed so as to
                  include equivalent or analogous laws of any other
                  jurisdiction; and

        1.4.10    times of the day is to London time.

1.5     All obligations of the Sellers contained in this Agreement are
        undertaken by them in a several capacity and accordingly any breach by
        AFR alone shall be actionable only against him and any breach by PM
        alone shall be actionable only against him. Any liability for any
        Relevant Claim in respect of which both Sellers are liable shall be
        dealt with in accordance with clause 9.

1.6     The headings in this Agreement do not affect its interpretation.

1.7     A reference in Schedule 5 to a Seller's knowledge, information or belief
        is deemed to include knowledge, information and belief which such Seller
        would have if such Seller had made all reasonable enquiries.

2.      SALE AND PURCHASE

2.1     Subject to clause 3.1 below, the Sellers agree to sell with full title
        guarantee and the Buyer agrees to buy the Shares set out opposite the
        name of each Seller in column (2) of Schedule 1 and each right attaching
        to the Shares at or after the date of this Agreement, free of any
        Encumbrance.

2.2     The initial purchase price of the Shares shall be [pound][*] and shall
        be satisfied in the proportions identified in Schedule 1, in accordance
        with clause 4.

2.3     In addition to the initial purchase price, the Sellers shall be
        entitled to additional consideration in the circumstances described in
        Schedule 3.

* CONFIDENTIAL TREATMENT REQUESTED

                                      -8-

<PAGE>
2.4     In the event that the SPV Revenue for the financial year which ends on
        31 December 2001 ("Actual 2001 Revenue"), as determined under Schedule 3
        is less than [pound][*], the initial purchase price shall be reduced to
        such amount as is equal to [pound][*] multiplied by (Actual 2001
        Revenue/[pound][*]) on the basis that

        2.4.1     any such price reduction shall be shared between the Sellers
                  in the following proportions:

                  (i)      AFR: 75/85ths; and

                  (ii)     PM: 10/85ths.

        2.4.2     the reduction referable to each Seller shall be set off
        against the cash payments otherwise due to him at Completion.

2.5     If either of the Sellers is or becomes liable to make any payment to the
        Buyer under this Agreement the payment in question shall be deemed to be
        a reduction in the purchase price due to that Seller.

2.6     The Sellers waive all rights of pre-emption and other restrictions on
        transfer over the Shares and the shares of the Company subject to the
        Raikes Options conferred on them under the Articles or in any other
        manner whatsoever and shall procure that all such rights conferred on
        any other person are waived no later than Completion so as to permit the
        sale and purchase of the Shares.

2.7     If either of the Raikes Options lapses, AFR shall additionally sell,
        with full title guarantee and the Buyer shall additionally buy free from
        any Encumbrance the shares previously subject to that Raikes Option at
        the same price as the Buyer would otherwise have paid to the
        optionholder pursuant to the agreement between Martin McDermott and
        James Fairrie and the Buyer and the Guarantor of today's date.

3.      CONDITIONS

3.1     Completion is conditional on the following conditions being satisfied or
        waived by the Buyer (or as appropriate the Sellers), on or before the
        ninetieth day following today's date, but in the case of condition 3.1.2
        on or before 6pm on the fourth Business Day after the date on which all
        of the other Conditions (other than condition 3.1.9) have been satisfied
        (or where permitted waived) and in the case of condition 3.1.9 on or
        before 10am on the Completion Date:

        3.1.1     the Employment Agreements shall have been entered into;

        3.1.2     a matter, fact or circumstance has not occurred on or after
                  today's date save as contemplated in the Disclosure Letter
                  which has or is likely to have a Material Adverse Effect or
                  that the Buyer has not given written notice to the Sellers
                  that it is aware that such a matter, fact or circumstance has
                  occurred;

        3.1.3     the Buyer shall have obtained clearances from the US Banking
                  Authorities for the purchase of the Company's shares on terms
                  reasonably satisfactory to it;

* CONFIDENTIAL TREATMENT REQUESTED

                                      -9-

<PAGE>
        3.1.4     the Buyer shall have obtained the favourable opinion of its
                  auditors that the persons and entities in respect of which a
                  Group Company provides corporate services will not be
                  consolidated in the annual audited consolidated accounts of
                  the Buyer for the purposes of US GAAP;

        3.1.5     the Sellers shall have procured that the Company has redeemed
                  in full all of the Company's Preference Shares;

        3.1.6     the parties shall have notified and obtained if required the
                  approval of the Jersey Financial Services Commission or any
                  similar regulatory body in Jersey in relation to the proposed
                  change in ownership and directors of Bedell SPV Management
                  (Jersey) Ltd and SPV Jersey Limited, as contemplated by this
                  Agreement;

        3.1.7     the consolidated audited accounts of the Company for the
                  financial period ending on 31 March 2002 comprising the
                  reporting periods (for Tax purposes) ended 31 December 2001
                  and ending 31 March 2002 shall have been signed and delivered
                  to the Buyer and shall not have shown a material adverse
                  change in the state of affairs of the Group as compared with
                  the management accounts for the year ended 31 December 2001,
                  save to the extent that they reflect the matters disclosed in
                  the Disclosure Letter, and shall show consolidated revenues of
                  at least [pound][*];

        3.1.8     the Sellers shall have obtained tax clearances from the Inland
                  Revenue for the sale of the Company on terms reasonably
                  acceptable to them;

        3.1.9     the Buyer being reasonably satisfied with the Second
                  Disclosure Letter, if any, or no Second Disclosure Letter
                  being delivered by 10.00 am on the Completion Date;

        3.1.10    the parties shall have obtained consent from Bedell Cristin
                  Trust Company Limited within 30 days of today's date firstly
                  for the Buyer to proceed with its acquisition of the Company
                  as contemplated by this Agreement and secondly that it is not
                  required to consult with Bedell Cristin Trust Company Limited
                  in connection with the expansion of any operations of the
                  Company in a jurisdiction other than in Jersey or Guernsey as
                  contemplated by an agreement between Bedell Cristin Trust
                  Company Limited and the Company and AFR dated 11 January 2000
                  or the Buyer shall have waived this condition within 40 days
                  of today's date;

        3.1.11    the parties shall have notified and if required obtained the
                  approval of the appropriate regulatory bodies in Ireland,
                  Italy and the Cayman Islands in relation to the proposed
                  change in ownership and directors of SPV Management (Dublin)
                  Limited, SPV Management (Italia) SRL, and SPV Cayman Limited
                  respectively, as contemplated by this Agreement, provided that
                  this condition shall be deemed satisfied in 30 days after
                  today's date in respect of each of the above companies unless
                  and to the extent that either of the parties has written to
                  the others identifying any specific notifications and/or
                  approvals required under this clause; and

* CONFIDENTIAL TREATMENT REQUESTED

                                      -10-
<PAGE>
        3.1.12    either:

                  (i)      the directors of the Enron SPVs who are directors or
                           employees of a Group Company resigning as directors
                           and being replaced as directors by persons who are
                           not directors or employees of a Group Company and all
                           shares held or owned by a Group Company being
                           transferred to a person who is not a Group Company;
                           or

                   (ii)    the Buyer being satisfied in its absolute discretion
                           that neither Group Companies nor the Buyer may suffer
                           adversely in any way whatsoever arising from the
                           Enron SPV transactions other than as a result of the
                           loss of the Enron SPV appointments.

3.2     The Buyer shall make all reasonable efforts to achieve satisfaction of
        each Condition set out in clauses, 3.1.3, 3.1.4, 3.1.6, 3.1.9, 3.1.10
        and 3.1.11 as soon as possible.

3.3     The Sellers shall make all reasonable efforts to achieve satisfaction of
        each Condition set out in clauses 3.1.1, 3.1.5, 3.1.6, 3.1.7, 3.1.8,
        3.1.10, 3.1.11 and 3.1.12 within ninety days of today's date.

3.4     If, at any time, the Sellers or the Buyer becomes aware of a fact or
        circumstance that might prevent a Condition being satisfied, it shall
        immediately inform the other party.

3.5     At any time on or before the ninetieth day after today's date the Buyer
        may waive a Condition (other than a Condition in clauses 3.1.2, 3.1.5,
        3.1.7, 3.1.8 or 3.1.10) by written notice to the Sellers on any terms it
        decides and the Sellers may waive the condition in clause 3.1.8) by
        written notice to the Buyer on any terms they decide.

3.6     If:

        3.6.1     a Condition  (other than the Conditions in clauses 3.1.2 and
                  3.1.9) has not been waived pursuant to clause 3.5 or has not
                  been satisfied on or before the ninetieth day after today's
                  date; or

        3.6.2     the Condition in clause 3.1.2 is not satisfied as at 6pm on
                  the fourth Business Day after the date on which all of the
                  other Conditions (other than the condition in clause 3.1.9)
                  have been satisfied and has not been waived by the Buyer
                  pursuant to clause 3.5; or

        3.6.3     the Condition in clause 3.1.9 is not satisfied as at 10am on
                  the Completion Date

        this Agreement shall automatically terminate with immediate effect.

3.7     Save for clauses 1, 8.2, 9, 13-16, and 18-21 each party's further rights
        and obligations cease immediately on termination, but termination does
        not affect a party's accrued rights and obligations at the date of
        termination.

4.      COMPLETION

4.1     Completion shall take place at 10.00 am at the office of the Buyer's
        Solicitors on the Completion Date or at such other place and time as the
        parties may agree.

                                      -11-
<PAGE>
4.2     At Completion:

        4.2.1     AFR will comply with his obligations under the Raikes Options
                  if they are exercised and the Buyer shall comply with its
                  obligations under the agreement of today's date between the
                  Buyer, the Guarantor, Martin McDermott and James Fairrie, but
                  if either of the Raikes Options is not exercised and thereby
                  lapses AFR and the Buyer shall instead complete the sale of
                  the relevant shares in accordance with clause 2.7;

        4.2.2     the Sellers and the Buyer shall do all those things
                  respectively required of them in Schedule 4 and the Buyer
                  shall issue the Escrow Loan Notes to AFR;

        4.2.3     the Sellers and the Buyer shall sign the Escrow Letter and
                  deliver the Escrow Letter to the Escrow Agents as soon as
                  practicable after Completion;

        4.2.4     the Buyer shall, subject to clause 4.3, pay [pound][*] by
                  telegraphic transfer into Eversheds' client account with HSBC
                  Bank PLC, 31 Holborn, London EC1N 2HR [*];

        4.2.5     the Buyer shall pay [pound][*] by telegraphic transfer into
                  Eversheds' client account as above in satisfaction of the
                  Sellers' obligation to make loan funds available under the
                  loan agreements of today's date, between Martin McDermott, the
                  Sellers and the Company and James Patrick Johnson Fairrie, the
                  Sellers and the Company;

        4.2.6     the Buyer shall pay [pound][*] by telegraphic transfer into
                  the Escrow Account, of which [pound][*] shall continue to
                  belong to the Buyer but be held as security for the Buyer's
                  obligations under the Escrow Loan Notes and of which
                  [pound][*] shall belong to PM but be held as security for his
                  obligations under this Agreement, in accordance with clause 6;
                  and

        4.2.7     the Buyer shall execute a charge in such form as the Seller
                  reasonably requests in respect of the [pound][*] mentioned
                  above that is held as security for the Escrow Loan Notes.

4.3     If the Company has an overdraft as at the close of business on the day
        prior to the Completion Date, after giving effect to uncashed cheques
        issued by the Company as at the close of business on the day prior to
        the Completion Date, AFR shall lend the Company an amount equal to such
        overdraft. In such event the amount payable to Eversheds on AFR's behalf
        under clause 4.2.4 shall be reduced and the Buyer shall instead pay the
        loan amount to the Company on behalf of AFR. Such loan shall be interest
        free and the Buyer shall procure that it is repaid by the Company out of
        the Company's future receipts on the basis that one third of such
        receipts shall be applied in arrears on the calendar quarterly dates to
        repay the loan until it is extinguished.

4.4     The Buyer is not obliged to complete this Agreement unless:

        4.4.1     the Sellers comply with all their obligations under clause 4
                  and Schedule 4; and

        4.4.2     the purchase of all the Shares is completed simultaneously.

* CONFIDENTIAL TREATMENT REQUESTED

                                      -12-
<PAGE>
4.5     Neither Seller shall be obliged to complete this Agreement unless the
        Buyer complies with all its obligations under clause 4 and Schedule 4.

4.6     If Completion does not take place on the Completion Date because one of
        the parties fails to comply with any of its or his obligations under
        clause 4 and Schedule 4 (whether such failure amounts to a repudiatory
        breach or not), the other parties may by notice to the party in default:

        4.6.1     proceed to Completion to the extent reasonably practicable
                  (but if a party exercises its or his rights pursuant to this
                  clause, completion of the purchase of some of the Shares does
                  not affect that party's rights in connection with the others);

        4.6.2     postpone Completion to a date not later than 31 May 2002; or

        4.6.3     terminate this Agreement.

4.7     If a party postpones Completion to another date in accordance with
        clause 4.6.2, the provisions of this Agreement apply as if that other
        date is the Completion Date.

4.8     Save for clauses 1, 8.2, 9, and 13-16, and 18-21 if a party terminates
        this Agreement pursuant to clause 4.6.3, each party's further rights and
        obligations under it shall cease immediately on termination, but
        termination does not affect a party's accrued rights and obligations at
        the date of termination.

4.9     The Buyer will procure that the Company discharges its own obligations
        post Completion with Royal Bank of Scotland plc.

5.      ISSUE OF INTERIM AND FINAL LOAN NOTES

5.1     If appropriate under Schedule 3, the Buyer shall issue the Interim
        and/or the Final Loan Notes to the Sellers in accordance with that
        schedule.

5.2     If the Buyer has acquired any of the shares subject to the Raikes Option
        direct from AFR the amount of Interim or Final Loan Notes (as the case
        may be) shall be increased accordingly.

6.      ESCROW ACCOUNT

6.1     The parties agree that money in the Escrow Account shall only be used in
        accordance with the provisions set out in this clause and in the Escrow
        Letter. Each party shall ensure that all rights to the Escrow Account
        remain free from any Encumbrance, set-off or counterclaim except as
        referred to in this clause.

6.2     The Escrow Account will be a joint on-demand interest bearing deposit
        account with HSBC Bank Plc in the name of the Escrow Agents who will
        hold the Escrow Amount as stakeholders upon trust for the Buyer and the
        Sellers on the following terms:

6.3     Subject as provided in clauses 6.6 and 6.7, the Escrow Agents will make
        payments out of the Escrow Amount to AFR in the amounts (inclusive of
        interest) and on the dates provided in the Escrow Loan Notes

                                      -13-
<PAGE>
6.4     Subject as provided in clauses 6.6 and 6.7, the Escrow Agents will make
        payments out of the Escrow Amount to PM as follows:

        6.4.1     [pound][*] on the first anniversary of Completion;

        6.4.2     [pound][*] on the second anniversary of Completion; and

        6.4.3     [pound][*] on the third anniversary of Completion.

6.5     If, the Buyer believes that at any time on or before the third
        anniversary of Completion, (i) either of the Sellers is in breach of any
        of the undertakings given by each of the Sellers to the Buyer under
        clause 11; (ii) a liability is due and owing by a Seller under a
        Warranty; (iii) AFR has breached a covenant in the Raikes Services
        Agreement or (iv) liability is due and owing by a Seller under the Tax
        Deed (in each case a "Claim");

        6.5.1     the Buyer shall as soon as is reasonably practicable send
                  notice to the relevant Seller and the Escrow Agents specifying
                  the Seller which is in breach and setting out in reasonable
                  detail the nature of the Claim and the amount thereof;

        6.5.2     within twenty Business Days starting on the day of receipt of
                  the notice given under clause 6.5.1 the relevant Seller shall
                  notify the Buyer and the Escrow Agents whether or not it
                  accepts the Claim and if not, setting forth in reasonable
                  detail the basis of its objection to the Claim (an
                  "OBJECTION") and whether or not he requires the Buyer to
                  obtain an opinion from a Queen's Counsel selected by the
                  Buyer, of a minimum of 10 years' call, indicating that he
                  regards the amount claimed under clause 6.5.1 to be a
                  reasonable amount in the circumstances

        6.5.3     if the relevant Seller fails to deliver to the Buyer and the
                  Escrow Agents its Objection to the Claim in accordance with
                  clause 6.5.2, such Seller shall be deemed to have accepted
                  that the Claim may be paid out of the Escrow Account and the
                  Escrow Agents shall be authorised to make and continue payment
                  of the amount thereof in accordance with clause 6.6 hereof
                  without further action by the Sellers;

        6.5.4     if the Seller delivers an Objection to the Claim, upon
                  resolution of the Claim the amount of such Claim shall be paid
                  in accordance with clause 6.6 hereof.

6.6     Upon receipt of notice of a Claim, the Escrow Agents shall hold back the
        amount of the Claim from any amount that it would otherwise have paid to
        the relevant Seller(such amount, a "Held-over Amount").

        6.6.1     In the event the Seller shall accept (or be deemed to have
                  accepted) the Claim, the Buyer shall be entitled to obtain
                  from the Escrow Agents forthwith payment in the amount of the
                  Claim Provided Always that the maximum amount that may be paid
                  to the Buyer out of the Escrow Account in respect of any claim
                  against either one of the Sellers shall not exceed the amounts
                  potentially still due to that Seller out of the Escrow
                  Account.

* CONFIDENTIAL TREATMENT REQUESTED

                                      -14-
<PAGE>
        6.6.2     In the event that a Seller shall have delivered a notice
                  of its Objection to an Escrow Claim to the Escrow Agents, the
                  relevant Seller or the Buyer, as the case may be, shall be
                  entitled to obtain from the Escrow Agents payment in the
                  amount of the Claim upon delivery of (i) written direction
                  executed by both parties authorising the payment and
                  specifying the amount thereof, or (ii) a written decision of
                  an appropriate court in England (together with a written
                  certification by counsel to such party that no appeal has or
                  may be taken from such decision), in each case specifying the
                  amount agreed or determined to be payable, in which case the
                  Escrow Agents shall forthwith pay to the party indicated by
                  such writing the amount so agreed or awarded in respect of the
                  Escrow Claim (and to the Seller as and when due any remaining
                  portion of the Held-over Amount not directed to be paid to the
                  Buyer) Provided Always that the maximum amount that may be
                  paid to the Buyer out of the Escrow Account in respect of any
                  claim against either one of the Sellers shall not exceed the
                  amounts potentially still due to that Seller in respect of the
                  Escrow Account.

        6.6.3     If an Objection notice given by a Seller indicates that he
                  requires the Buyer to obtain an opinion from a Queen's
                  Counsel, the Buyer shall have thirty Business Days from the
                  date of service of such notice, to provide that Seller and the
                  Escrow Agents with a copy of a signed Opinion from a Queen's
                  Counsel selected by the Buyer, of a minimum of 10 years' call,
                  giving reasonable details of the Claim and indicating that he
                  regards the amount claimed under clause 6.5.1 or such other
                  amount as the Queen's Counsel considers reasonable to be a
                  reasonable amount in the circumstances

        6.6.4     If the Buyer does not provide the relevant Seller and the
                  Escrow Agents with such a copy opinion within such thirty
                  Business Days, or if the opinion shows a lower amount to be
                  reasonable than was claimed, the Claim shall be deemed to have
                  been withdrawn either in full or, if the opinion did show a
                  lower amount, in respect of the excess and the Escrow Agents
                  shall pay the amount for which the Claim is deemed to have
                  been withdrawn to the relevant Seller if it would otherwise
                  have been due for payment.

        6.6.5     If the Buyer does provide the relevant Seller and the Escrow
                  Agents with such a copy opinion within such thirty Business
                  Days, the amount in question shall be retained in the Escrow
                  account until delivery of a written direction or decision
                  under clause 6.6.2 and the relevant Seller shall reimburse the
                  Buyer for the reasonable fees of the Queen's Counsel for the
                  delivery of the above opinion. If both Sellers requested
                  delivery of such an opinion they shall reimburse such fees in
                  the Relevant Proportions.

6.7     If the maximum amount which may be paid by the Escrow Agents in respect
        of a Claim is insufficient to satisfy such Claim, the Buyer shall be
        entitled at any time prior to the date on which a Loan Note becomes due
        for issue to the relevant Seller under Schedule 3 to exercise a right of
        hold back in respect of the shortfall. If the Buyer exercises such
        right, it shall issue a Loan Note for the amount in dispute and if
        applicable, a Loan Note for the balance. The Loan Note for the amount in
        dispute shall be in the Agreed Form but shall not be transferable and
        shall provide for payment to be suspended pending a written

                                      -15-
<PAGE>
        agreement between such Seller and the Buyer or a written decision of an
        appropriate court in England from which no appeal has or may be taken
        and shall provide for a right of set off in respect of any such amount
        as is ultimately agreed or determined by such a court to be due to the
        Buyer from the relevant Seller.

6.8     Subject to clause 6.9, any interest accruing on the Escrow Amount shall
        be paid to the Buyer as it arises, save that any interest accruing on a
        Held-over Amount after the date on which it would otherwise have been
        paid to a Seller shall be retained in the Escrow Account. Such interest
        shall be paid to the Seller once the claim has been determined or
        agreed, unless (but then only to the extent that) the Held-over Amount
        is insufficient to cover any amount determined or agreed to be payable
        to the Buyer in respect of the relevant claim (including any amount
        determined or agreed to be due in respect of interest or costs), in
        which case it shall be paid to the Buyer.

6.9     All payments of interest to the Buyer and/or a Seller shall be paid
        after deduction of any tax on such interest for which the Escrow Agents
        may be accountable and the Escrow Agents shall be entitled to withdraw
        from the Escrow Account an amount equal to such tax, subject to their
        providing appropriate certificates.

6.10    The Sellers and the Buyer shall each pay one half of the Escrow Agents'
        costs in respect of any work done pursuant to this clause.

7.      WARRANTIES AND PRE-COMPLETION CONDUCT

7.1     AFR warrants to the Buyer that each Warranty is true, accurate and not
        misleading at the date of the Agreement. PM warrants to the Buyer that
        each Warranty is true, accurate and not misleading as at 9 October 2001
        by reference to the facts and circumstances as at that date. For this
        purpose only, as to PM where there is an express or implied reference in
        a Warranty by PM or the Sellers, to the date of this Agreement or to a
        date after 9 October 2001, such references as to PM only are to be
        construed as a reference to 9 October 2001. Immediately before
        Completion, AFR is deemed to warrant to the Buyer, and PM in respect of
        Warranties 1.2.1, 3.1.1 and 3.1.3, that each Warranty is true, accurate
        and not misleading by reference to the facts and circumstances as at
        Completion. For this purpose only, where there is an express or implied
        reference in a Warranty to the "date of this Agreement", that reference
        is to be construed as a reference to Completion.

7.2     The Sellers acknowledge that the Buyer:

        7.2.1     is entering into this Agreement in reliance on each Warranty
                  which has also been given as a representation and with the
                  intention of inducing the Buyer to enter into this Agreement;
                  and

        7.2.2     may rely on the Warranties in warranting to any subsequent
                  buyer of all or any of the Shares or of all or any part of the
                  undertaking of a Group Company.

7.3     The Warranties are qualified by the facts and circumstances fairly and
        specifically disclosed in the Disclosure Letter or in the Second
        Disclosure Letter in relation to the Warranties repeated prior to
        Completion under clause 7.1. No other knowledge relating to a Group
        Company (actual, constructive or imputed) prevents or limits a claim
        made by

                                      -16-

<PAGE>
        the Buyer for breach of clause 7.1. The Sellers shall not invoke the
        Buyer's knowledge (actual, constructive or imputed) of a fact or
        circumstance which might make a Warranty untrue, inaccurate or
        misleading as a defence to a claim for breach of clause 7.1.

7.4     Reference to any facts and circumstances being disclosed shall be deemed
        to be a reference to them being fully and specifically disclosed in the
        Disclosure Letter or the Second Disclosure Letter in such a manner that:

        7.4.1     in the context of the disclosures contained in the Disclosure
                  Letter:

                  (a)      the significance of the information disclosed and its
                           relevance to a particular Warranty ought reasonably
                           to be appreciated by the Buyer, taking into account
                           the paragraphs or subject matters in relation to
                           which the information was disclosed;

                  (b)      there is not omitted from the information disclosed
                           any information which would have the effect of
                           rendering the information so disclosed misleading in
                           relation to the relevant Warranty; and

       7.4.2      in the context of any document treated as disclosed by the
                  Disclosure Letter, the matter disclosed is reasonably apparent
                  from the terms of the document;

        and nothing disclosed by the Sellers to the Buyer other than in the
        Disclosure Letter and in accordance with the provisions of this clause
        shall constitute disclosure for the purposes of this Agreement.

7.5     The Sellers undertake not to make any claim against a Group Company or a
        director, officer or employee of a Group Company which they may have in
        respect of a misrepresentation, inaccuracy or omission in or from
        information or advice provided by a Group Company or a director, officer
        or employee of a Group Company for the purpose of assisting the Sellers
        to make a representation, give a Warranty or prepare the Disclosure
        Letter.

7.6     Each Warranty is to be construed independently and (except where this
        Agreement provides otherwise) is not limited by a provision of this
        Agreement or another Warranty.

7.7     Between the execution of this Agreement and Completion the Sellers
        shall:

        7.7.1     ensure that each Group Company complies with schedule 6; and

        7.7.2     notify the Buyer immediately if they become aware of a fact or
                  circumstance which constitutes or which would or might
                  constitute a breach (whether repudiatory in nature or not) of
                  clause 7.1 or 7.7.1 or which would or might cause a Warranty
                  to be untrue, inaccurate or misleading if given in respect of
                  the facts or circumstances as at Completion.

8.      THE BUYERS REMEDIES

8.1     If, at any time before Completion, the Sellers are in material breach of
        any provision of this Agreement, the Buyer may by notice in writing to
        the Sellers elect to proceed to Completion or terminate this Agreement.

                                      -17-

<PAGE>
8.2     If the Buyer terminates this Agreement pursuant to clause 8.1:

        8.2.1     the Sellers shall indemnify the Buyer, and keep the Buyer
                  indemnified, on demand against all its costs relating to the
                  negotiation, preparation, execution or termination of this
                  Agreement and the satisfaction of any Condition and of any
                  legal proceedings against the Sellers in respect of any
                  failure by them to comply with this Agreement; and

        8.2.2     save for clauses 1, 8.2.1, 9, 13-16, and 18-21 each party's
                  further rights and obligations shall cease immediately on
                  termination, but termination does not affect a party's accrued
                  rights and obligations at the date of termination.

9.      LIMITATIONS ON THE SELLER'S LIABILITY

9.1     Neither of the Sellers shall be liable in respect of a Relevant Claim:

        9.1.1     unless the aggregate amount that would otherwise be
                  recoverable from the Sellers (but for this sub clause) in
                  respect of that Relevant Claim exceeds [pound][*]; and

        9.1.2     unless and until the aggregate amount that would otherwise be
                  recoverable from the Sellers (but for this sub clause) in
                  respect of that Relevant Claim, when aggregated with any other
                  amount or amounts recoverable in respect of other Relevant
                  Claims, exceeds [pound][*] and in the event that the
                  aggregated amounts exceed [pound][*] the Sellers shall be
                  liable in respect of the total aggregated amounts (subject to
                  the other limitations in this clause 9) and not the excess
                  only.

9.2     AFR's total liability in respect of all Relevant Claims and PM's total
        liability in respect of all Relevant Claims is limited to the sum of
        such amounts as shall have been paid to them or to their order under
        this Agreement except in cases of fraud by one of them in relation to
        the negotiation of this Agreement when no limit is to attach to that
        Seller.

9.3     PM shall not be liable for any Relevant Claim (other than one regarding
        title to the Shares sold by him and/or his capacity to sell them) to the
        extent that it relates to matters arising after 9 October 2001 and
        (subject to the other provisions of this clause 9) AFR shall accordingly
        be wholly liable for the relevant part of any such valid Relevant Claim.

9.4     Subject to clause 9.3, AFR shall be liable for only 87% of any valid
        Relevant Claim (unless it relates to his title to the Shares sold by him
        under this Agreement and/or his capacity to sell them (in which case he
        shall be liable for 100% of such claim)) and PM shall be liable for only
        13% of any valid Relevant Claim (unless it relates to his title to the
        Shares sold by him under this Agreement and/or his capacity to sell them
        (in which case he shall be liable for 100% of such claim))

        Provided That if the aggregate value of all valid Relevant Claims
        (including AFR's share, if applicable) for which PM would otherwise be
        liable (other than any regarding title to the Shares sold by him and/or
        his capacity to sell them) is less than [pound][*], PM shall have no
        liability for any such Claims and AFR's liability for such Relevant
        Claim(s) shall be increased accordingly.

* CONFIDENTIAL TREATMENT REQUESTED

                                      -18-
<PAGE>
9.5     The Sellers shall not be liable for a Relevant Claim in respect of:

        9.5.1     a claim under the Tax Deed or under the Warranties contained
                  in paragraph 6 of Schedule 5 unless the Buyer has notified the
                  Sellers of the claim stating in reasonable detail the nature
                  of the Claim and, if practicable, the amount claimed not later
                  than 31 January 2008; and

        9.5.2     any other Warranty unless the Buyer has notified the Sellers
                  of the Warranty Claim stating in reasonable detail the nature
                  of the Warranty Claim and, if practicable, the amount claimed
                  on or before 30 June 2004.

9.6     A Seller shall not be liable for a Relevant Claim unless proceedings in
        respect of the Relevant Claim are issued and served on him within 6
        months following the day of notification to him of the Relevant Claim.

9.7     Clauses 9.1, 9.2, 9.5 and 9.6 do not apply in respect of a valid
        Relevant Claim involving or relating to breach of clause 7.1 in respect
        of a Warranty contained in paragraph 3.1 of Schedule 5.

9.8     The Sellers shall not be liable in respect of any Relevant Claim:

        9.8.1     to the extent that it arises or is increased as a result of
                  the passing of, or a change in, any law, rule, regulation,
                  interpretation of the law or administrative practice of a
                  government, government department, agency or regulatory body
                  or an increase in rates of taxation after the Last Accounting
                  Date, or any provision or reserve in the Accounts or
                  management accounts for the year ended 31 December 2001 being
                  insufficient by reason of any increase in rates of taxation
                  after the Last Accounting Date;

        9.8.2     if it would not have arisen but for any act, omission,
                  transaction or arrangement carried out at the written request
                  of or with the written consent of the Buyer before Completion;

        9.8.3     if it would not have arisen but for any voluntary act,
                  omission, transaction or arrangement carried out after
                  Completion by the Buyer or any Group Company and which the
                  Buyer ought reasonably have anticipated would give rise to the
                  loss in question;

        9.8.4     to the extent that such Relevant Claim arises, or has
                  otherwise arisen and is increased, as a result of any
                  reorganisation or change made in the ownership of the Group
                  after Completion or any change in any accounting or taxation
                  policies or practice or accounting reference date of any Group
                  Company or the Buyer made after Completion;

        9.8.5     to the extent that it relates to any loss for which the Buyer
                  or any Group Company has a right of recovery whether by
                  contribution or indemnity by insurance or would have been
                  entitled to recover if valid and adequate insurance:

                  (a)      had been maintained at the relevant time; and

                                      -19-

<PAGE>
                  (b)      was of a type in force in relation to any Group
                           Company at the date of this Agreement or normally
                           effected by prudent companies carrying on a business
                           similar to that of any Group Company;

        9.8.6     to the extent that it relates to:

                  (a)      any matter in respect of which a provision or reserve
                           is made in the Statutory Accounts; or

                  (b)      any liability for Taxation arising as a result of an
                           Event occurring in the ordinary course of business of
                           any Group Company after the Statutory Accounts Date,

                  and without limitation, the exercise of any share options
                  granted prior to Completion by James Patrick Johnston Fairrie
                  or Martin McDermott SHALL be regarded for the purposes of
                  9.8.6 (b) as an Event occurring in a Group Company's ordinary
                  course of business but each of the following SHALL NOT be
                  regarded for the purposes of that sub-clause as an Event
                  occurring in a Group Company's ordinary course of business:

                           (i)      an Event giving rise to a liability under
                                    section 126 or Schedule 23 of the Finance
                                    Act 1995 (UK representatives of
                                    non-residents etc.);

                           (ii)     an Event giving rise to a liability under
                                    Part XVII of the Taxes Act (tax avoidance);

                           (iii)    a distribution within the meaning given by
                                    Part VI or section 418 of the Taxes Act;

                           (iv)     an acquisition or deemed acquisition of
                                    assets, goods, services or business
                                    facilities of any kind (including a loan of
                                    money or a letting, hiring or licensing of
                                    tangible or intangible property) to the
                                    extent that the consideration as treated for
                                    Tax purposes is less than the actual
                                    consideration or, a disposal or supply or
                                    deemed disposal or supply of assets, goods,
                                    services or business facilities of any kind
                                    (including a loan of money or a letting,
                                    hiring or licensing of tangible or
                                    intangible property) to the extent that the
                                    consideration as treated for Tax purposes is
                                    more than the actual consideration;

                           (v)      an Event which results in a Group Company
                                    being liable for Tax for which it is not
                                    primarily liable;

                           (vi)     a Group Company's failure to deduct or
                                    account for Tax or pay Tax when due;

                           (vii)    a disposal of capital assets giving rise to
                                    a balancing charge for capital allowances
                                    purposes;

                           (viii)   an Event giving rise to a liability within
                                    section 419 of the Taxes Act;

                                      -20-

<PAGE>
                           (ix)     a release of all or part of any debt to the
                                    extent that a deduction would not be
                                    available for Tax purposes in respect of
                                    such release;

                           (x)      the making of, or providing for, any
                                    redundancy or similar payments not
                                    authorised by the Buyer; and

                           (xi)     an Event which results in a chargeable gain
                                    being attributed to a Group Company under
                                    section 13 or 87 TCGA.

        9.8.7     to the extent that the amount of the Relevant Claim is taken
                  into account in calculating the SPV Revenue for any of the 4
                  years ending on 31st December 2004 and to the extent that it
                  thereby reduces the amount payable under Schedule 3.

        9.8.8     to the extent that such liability for Tax or other liability
                  is discharged on or before the Statutory Accounts Date and the
                  discharge of such liability is recognised in the Statutory
                  Accounts;

        9.8.9     to the extent that such liability for Tax or other liability
                  is in respect of the actual (as opposed to the deemed)
                  earning, receipt or accrual for any Tax purposes of any
                  income, profit or gain which is not recognised in the
                  Statutory Accounts;

        9.8.10    to the extent that such liability for Tax or other liability
                  would not have arisen or would have been reduced or eliminated
                  but for the failure or omission on the part of any Group
                  Company or the Buyer on or after Completion to make any claim,
                  election, surrender or disclaimer or to give any notice or
                  consent or to do any other thing, the making, giving or doing
                  of which was taken into account in the preparation of the
                  Statutory Accounts and the details of which have been notified
                  to the Buyer on or before the date on which the relevant
                  action is required to be taken;

        9.8.11    to the extent that such liability to Tax or other liability
                  would not have arisen but for the withdrawal or amendment by
                  the Buyer or any Group Company after Completion of any
                  election, claim, surrender, disclaimer, notice or consent made
                  by the Group Company prior to Completion in relation to any
                  Relief;

        9.8.12    to the extent that such liability for Tax or other liability
                  would not have arisen but for any failure or delay by the
                  Buyer or any Group Company in paying over to any Tax Authority
                  any payment previously made by the Sellers under the Tax Deed
                  or for breach of the Warranties contained in paragraph 6 of
                  Schedule 5 of this Agreement;

        9.8.13    to the extent that at the Statutory Accounts Date there was
                  available to any Group Company any Relief which was not
                  included or taken into account in the provision or reserve for
                  Tax in the Statutory Accounts or to the extent that any losses
                  attributable to periods ending on or before the Statutory
                  Accounts Date become available to any Group Company and such
                  repayment, credit, set-off or such losses can, in the opinion
                  of the Buyer's auditors, be used by any Group Company or the
                  Buyer to avoid any liability to Tax which but for this
                  sub-

                                      -21-

<PAGE>
                  paragraph would have given rise to a claim under the Tax Deed
                  or under the Warranties contained in paragraph 6 of Schedule 5
                  of this Agreement by the Buyer, to the intent and effect that
                  such Relief, or losses should as far as possible be utilised
                  in:-

                  9.8.13.1          discharge of any liability for Tax which
                                    could otherwise form the subject matter of a
                                    claim against the Sellers under this Deed or
                                    under the Warranties contained in paragraph
                                    6 of Schedule 5 of this Agreement; and

                  9.8.13.2          reduction of any other liability for Tax of
                                    any Group Company or the Buyer (whether by
                                    way of carry forward and set-off against
                                    future profits or otherwise) and in such
                                    case the amount for which the Sellers would
                                    otherwise be liable under this Deed or under
                                    the Warranties contained in paragraph 6 of
                                    Schedule 5 of the Agreement shall be reduced
                                    by an amount which is equal to the amount of
                                    the said reduction and if the said reduction
                                    occurs after a liability under the Tax Deed
                                    or under the Warranties contained in
                                    paragraph 6 of Schedule 5 of this Agreement
                                    has been discharged, the relevant Group
                                    Company or the Buyer shall be liable to
                                    repay to the Sellers the amount of such
                                    reduction (up to the amount of the liability
                                    previously discharged);

        9.8.14    to the extent that such liability arises solely by virtue of
                  any Group Company's average rate of corporation tax increasing
                  as a result of becoming a member of the Buyer's group;

        9.8.15    to the extent that such liability arises as a result of the
                  grant of share options or other benefits to or the exercise of
                  share options by James Patrick Johnston Fairrie or Martin
                  McDermott;

        9.8.16    to the extent that such liability is stamp duty arising on
                  documents other than those documents in the enforcement of
                  which the Company is interested.

9.9     If the Buyer or any Group Company is able to recover from some other
        person any sum in respect of any matter or event which could give rise
        to a Relevant Claim, the Buyer will (or will procure that any relevant
        Group Company will) take all reasonable steps to recover that sum before
        making such Relevant Claim, and any sum recovered will reduce the amount
        of such Relevant Claim after deduction of all reasonable costs and
        expenses of recovery.

9.10    If a Seller pays the Buyer a sum to settle or discharge a Relevant Claim
        and the Buyer or any Group Company subsequently recovers whether by
        payment, discount, credit, relief or otherwise from any third party
        (including any Tax Authority) a sum which is referable to the Relevant
        Claim the Buyer will repay the Seller immediately the Relevant
        Proportion of the amount recovered from the third party less the
        Relevant Proportion of any reasonable costs and expenses incurred in
        recovering the same and less any Tax

                                      -22-
<PAGE>
        payable on such amount, or if less such amount as is equivalent to the
        sum paid by the Seller in settlement or discharge of that Relevant
        Claim.

9.11    The Buyer shall not be entitled to recover damages or otherwise obtain
        payment, reimbursement or restitution more than once under this
        Agreement (including the Tax Deed) in respect of the same loss or
        liability.

9.12    If any potential Relevant Claim arises as a result of a contingent or
        unquantifiable liability of any Group Company, the Sellers shall be
        obliged to pay any sum in respect of the potential Relevant Claim at
        such time (if at all) as the liability or a portion thereof either
        ceases to be contingent or becomes quantifiable (and then only to the
        extent that it does so).

9.13    If the Buyer or a Group Company becomes aware that matters have arisen
        which will or are likely to give rise to a Relevant Claim, the Buyer
        will (and will procure that any Relevant Group Company will):

        9.13.1    immediately notify the Sellers in writing of the potential
                  Relevant Claim;

        9.13.2    not make any admission of liability, agreement or compromise
                  with any person, body or authority in relation to the
                  potential Relevant Claim without prior written consent of the
                  Sellers (not to be unreasonably withheld or delayed);

        9.13.3    disclose promptly in writing to the Sellers all information
                  and documents relating to the potential Relevant Claim or the
                  matters which will or are likely to give rise to the potential
                  Relevant Claim;

        9.13.4    if requested by the Sellers give each Seller and his
                  professional advisers reasonable access (at the relevant
                  Seller's cost) to:

                  (a)      the personnel of the Buyer and/or any relevant Group
                           Company in order to interview the personnel;

                  (b)      any relevant premises, chattels, accounts, documents
                           and records within the power, possession or control
                           of the Buyer and/or any relevant Group Company in
                           order to, at the Sellers' own expense, examine and
                           photograph the premises and chattels and to examine,
                           photograph and take copies of the accounts, documents
                           and records;

        9.13.5    take such action as either Seller may reasonably request to
                  avoid, resist, contest, defend, compromise or remedy the
                  potential Relevant Claim or the matters which will or are
                  likely to give rise to such Relevant Claim and in each case on
                  the basis that the Sellers shall indemnify the Buyer in the
                  Relevant Proportions for all reasonable costs incurred as a
                  result of a request by the Sellers;

        9.13.6    in connection with any actions or proceedings relating to the
                  matter or Relevant Claim, and subject to the Buyer being
                  indemnified for all reasonable costs incurred, use advisers
                  nominated by the Sellers and, if the Sellers (or the relevant
                  Seller if only one of them is potentially liable) request,
                  consult with the

                                      -23-
<PAGE>
                  Sellers or relevant Seller regarding the exclusive conduct of
                  such actions or proceedings.

9.14    Nothing in this clause 9 shall in any way restrict or limit the Buyer's
        or any relevant Group Company's common law duty to mitigate its loss.

9.15    The Buyer confirms to the Sellers that it is not aware at the date of
        this Agreement, after discussion with its accountants and solicitors, of
        any matter or thing which in its reasonable opinion will or may give
        rise to any Relevant Claim.

9.16    Save as provided herein, the sole remedy of the Buyer for any breach of
        any of the Warranties or any other breach of this Agreement by the
        Sellers shall be an action for damages and the Buyer shall not be
        entitled to terminate or rescind this Agreement.

9.17    Nothing in clause 9 shall have the effect of limiting or restricting any
        liability of a Seller in respect of a Relevant Claim arising as a result
        of any fraud committed by that Seller in connection with the
        negotiation, preparation, execution and performance of this Agreement.

10.     USE OF INTELLECTUAL PROPERTY RIGHTS

        Each of the Sellers shall not, either alone or jointly with, through or
        as manager, adviser, consultant or agent for a person, directly or
        indirectly use or authorise, encourage or assist any person to use in
        connection with a business which competes, directly or indirectly, with
        a business of a Group Company as operated at the date of this Agreement,
        any of the Intellectual Property Rights (in particular, a name
        consisting of or including word "SPV") or use in that connection
        anything which is intended, or is likely to be confused with, any of the
        Intellectual Property Rights.

11.     FURTHER UNDERTAKINGS BY THE SELLERS

11.1    Each of the Sellers undertakes to the Buyer, for itself and as agent
        and trustee for each Group Company, that subject to clause 11.2, he will
        not do any of the following things:

        11.1.1    for a period of 4 years starting on the date of Completion,
                  either alone or jointly with, through, or as adviser to or
                  manager for, any person, carry on or be engaged, concerned or
                  interested in a business which competes with a Group Company
                  in respect of the SPV Core Business Provided that a Seller may
                  be involved in a business if not more than 5% of the revenue
                  of that business arises from activities that are competitive
                  with the SPV Core Business as at the time of such involvement;

        11.1.2    for a period of 4 years starting on the date of Completion, do
                  or say anything which is harmful to a Group Company's goodwill
                  (as subsisting at the date of this Agreement) or which may
                  lead a person who has dealt with a Group Company at any time
                  during the twelve months prior to the date of this Agreement
                  to cease to deal with a Group Company in respect of the SPV
                  Core Business on substantially equivalent terms to those
                  previously offered or at all;

        11.1.3    for a period of 4 years starting on the date of Completion, on
                  his own account or in conjunction with or on behalf of any
                  other person in respect of the products

                                      -24-
<PAGE>
                  or services of a business of a Group Company, either seek to
                  obtain orders from, or do business with, or encourage another
                  person to obtain orders from or do business with, a person who
                  has been a customer of that business at any time during the
                  twelve months prior to the date of this Agreement, in respect
                  of the SPV Core Business provided that a Seller may be
                  involved in a business if not more than 5% of the revenue of
                  that business arises from activities that are competitive with
                  the SPV Core Business as at the time of such involvement;

        11.1.4    for a period of 4 years starting on the date of this
                  Agreement, engage, employ, solicit or contact with a view to
                  his engagement or employment by another person, a person who
                  was a director, officer, employee or manager of a Group
                  Company at the date of this Agreement, where the person in
                  question either has Confidential Information or would be in a
                  position to exploit a Group Company's trade connections; or

        11.1.5    for a period of 4 years starting on the date of Completion,
                  seek to contract with or engage (in such a way as to affect
                  adversely a Group Company in respect of the SPV Core Business)
                  a person who has been contracted with or engaged to supply
                  services to that Group Company at any time during the twelve
                  months prior to the date of this Agreement.

        11.1.6    pending Completion each of the Sellers shall not, directly or
                  indirectly:

                  (i)      enter into or be involved in any discussion or
                           negotiation with any person except the Buyer in
                           connection with the sale of any Group Company or the
                           business or any part of the business of or (except in
                           the usual course of business) any of the assets of
                           the business of any Group Company;

                  (ii)     enter into an agreement or arrangement with any
                           person except the Buyer or any person designated by
                           the Buyer in connection with the sale of any Group
                           Company or the business or any part of the business
                           of or (except in the usual course of business) any of
                           the material assets of any Group Company; or

                  (iii)    make available to any person except their own
                           advisors, the Buyer, its directors, officers, duly
                           authorised representatives, advisers or agents any
                           information relating to the sale of any Group Company
                           or the business or any part of the business of or
                           (except in the usual course of business) any of the
                           assets of any Group Company (except in the usual
                           course of business).

11.2    Nothing in this clause 11 shall prevent either Seller from:

        11.2.1    holding or acquiring any business or the shares or other
                  securities of any company if:

                  (i)      not more than 5 per cent of the business or that
                           company's business is competitive with the SPV Core
                           Business; and

                                      -25-
<PAGE>
                  (ii)     the principal reason for doing so is not the
                           ownership of an interest in that part of the business
                           in question;

        11.2.2    holding or acquiring shares in any public company if the
                  shares in question represent less than 5% of the issued shares
                  of the relevant company.

11.3    Each undertaking in clause 11.1 constitutes an entirely independent
        undertaking and if one or more of the undertakings is held to be against
        the public interest or unlawful or in any way an unreasonable restraint
        of trade the remaining undertaking shall continue to bind each of the
        Sellers.

11.4    On receiving the Buyer's reasonable request each of the Sellers shall
        (at the Buyer's cost):

        11.4.1    do and execute, or arrange to be done and executed, each act,
                  document and thing reasonably requested by the Buyer from the
                  relevant Seller to implement this Agreement; and

        11.4.2    give to the Buyer all documents in their possession (if any)
                  that belong to a Group Company and copies of any other
                  documents that the Buyer might reasonably request.

12.     CONFIDENTIAL INFORMATION

12.1    Each of the Sellers undertakes to the Buyer, for itself and as agent and
        trustee for each Group Company, that before and after Completion each of
        the Sellers shall not use or disclose to any person Confidential
        Information he has or acquires and shall make every reasonable effort to
        prevent the use or disclosure of Confidential Information by any third
        party not authorised by the Company to have it.

12.2    Clause 12.1 does not apply to disclosure of Confidential Information:

        12.2.1    to a director, officer or employee of the Buyer or of a Group
                  Company whose function requires him to have the Confidential
                  Information;

        12.2.2    required to be disclosed provided that the disclosure shall be
                  made after consultation with the Buyer and after taking into
                  account the Buyer's reasonable requirements as to its timing,
                  content and manner of making or despatch; or

        12.2.3    to an adviser for the purpose of advising the relevant Seller
                  in connection with his affairs provided that such disclosure
                  is essential for these purposes and is on the basis that
                  clause 12.1 applies to the disclosure by the adviser.

13.     GUARANTOR'S OBLIGATIONS

13.1    In consideration of the Sellers entering into this Agreement, the
        Guarantor irrevocably and unconditionally:

        13.1.1    guarantees to the Sellers the due and punctual payment,
                  observance and performance by the Buyer of all of the Buyer's
                  liabilities and obligations, whether present or future,
                  express or implied, actual or contingent, under or

                                      -26-
<PAGE>
                  arising out of this Agreement, including any liability or
                  obligation to pay any sums due and payable under the Loan
                  Notes; and

        13.1.2    agrees as a primary obligation to indemnify each of the
                  Sellers from time to time on demand against each loss,
                  liability and cost which he may incur as a result of any of
                  the obligations of the Buyer under the Agreement being or
                  becoming void, voidable, unenforceable or ineffective for any
                  reason whatsoever whether or not known to either Seller, the
                  amount of such loss being the amount which the relevant Seller
                  would otherwise have been entitled to recover from the Buyer.

13.2    The Sellers will not be obliged before exercising any of the rights,
        powers or remedies conferred upon them in respect of the Guarantor
        under this clause or by law:

        13.2.1    to make any demand of the Buyer;

        13.2.2    to enforce or seek to enforce any claim, right or remedy
                  against the Buyer or any other person; or

        13.2.3    to make or file any claim or proof in connection with the
                  insolvency of the Buyer or any other person; or

        13.2.4    to take any action or obtain judgement in any court against
                  the Buyer or any other person.

13.3    Neither the liability of the Guarantor under this clause nor the rights,
        powers and remedies conferred on the Sellers under this clause or by law
        will in any way be released, prejudiced, diminished or affected by any
        of the following:

        13.3.1    any time or other indulgence being granted to the Buyer in
                  respect of its obligations under the Agreement;

        13.3.2    any amendment to, or any variation, waiver or release of, any
                  obligation of the Buyer under this Agreement;

        13.3.3    any failure to take, or fully to take, any security
                  contemplated by this Agreement or otherwise agreed to be taken
                  in respect of the Buyer's obligations under the Agreement;

        13.3.4    any failure to realise or fully to realise the value of, or
                  any release, discharge, exchange or substitution, of any such
                  security taken in respect of the Buyer's obligations under the
                  Agreement;

        13.3.5    the insolvency, incapacity, disability, or any change in the
                  constitution, name, control or style of, the Buyer, the
                  Guarantor or any other person;

        13.3.6    any invalidity, illegality, unenforceability, irregularity or
                  frustration in any respect of any of the liabilities or
                  obligations referred to in clause 13.1.1; and

        13.3.7    any act, omission event or circumstances which, but for this
                  provision, might operate to prejudice, affect or otherwise
                  affect the liability of the Guarantor

                                      -27-

<PAGE>
                  under this clause or any of the rights, powers or remedies
                  conferred upon the Sellers under this clause or by law.

14.     ANNOUNCEMENTS

14.1    Subject to clause 14.2, none of the parties shall, before or after
        Completion, and, before Completion, the Sellers shall procure that the
        Company shall not, make or send a public announcement, communication or
        circular concerning the transactions referred to in this Agreement
        unless it has first obtained the other parties' written consent which
        may not be unreasonably withheld or delayed.

14.2    Clause 14.1 does not apply to a public announcement, communication or
        circular required by law, or by a governmental authority or other
        authority with relevant powers to which a party is subject or submit,
        whether or not the requirement has the force of law, provided that the
        public announcement, communication or circular shall be made after
        consultation with the other parties and after taking into account the
        reasonable requirements of the other parties as to its timing, content
        and manner of making or despatch.

15.     COSTS

        Except where this Agreement or the relevant document provides otherwise,
        each party shall pay its own costs relating to the negotiation,
        preparation, execution and performance by it of this Agreement and of
        each document referred to in it.

16.     GENERAL

16.1    A variation of this Agreement is valid only if it is in writing and
        signed by or on behalf of each party.

16.2    The failure to exercise or delay in exercising a right or remedy
        provided by this Agreement, or by law, does not impair or constitute a
        waiver of the right or remedy or an impairment of, or a waiver of, other
        rights or remedies. No single or partial exercise of a right or remedy
        provided by this Agreement or by law prevents further exercise of the
        right or remedy or the exercise of another right or remedy.

16.3    The parties' rights and remedies contained in this Agreement are
        cumulative and not exclusive of rights or remedies provided by law.

16.4    Except to the extent that they have been performed and except where this
        Agreement provides otherwise, the obligations contained in this
        Agreement remain in force after Completion.

16.5    If a party fails to pay a sum due from it under this Agreement on the
        due date of payment in accordance with the provisions of this Agreement,
        that party shall pay interest on the overdue sum from the due date of
        payment until the date on which its obligation to pay the sum is
        discharged at the rate of 2 per cent. per annum over the base lending
        rate of Barclays Bank plc (whether before or after judgement). Interest
        accrues and is payable from day to day, but without compounding.

                                      -28-

<PAGE>
16.6    Except as provided in clause 18.6, a person who is not a party to this
        Agreement has no right under the Contracts (Rights of Third Parties) Act
        1999 to enforce any term of this Agreement, but this does not affect any
        right or remedy of a third party which exists or is available apart from
        that Act.

17.     SET-OFF

17.1    The Buyer shall not be entitled to set off any liability of either
        Seller to the Buyer in respect of a Relevant Claim against any liability
        of the Buyer to that Seller under this Agreement, except as provided in
        clause 6, or in the Loan Notes, under the Tax Deed and subject to clause
        9.

17.2    If the Buyer does exercise a right of set off in accordance with clause
        17.1, the withholding by the Buyer shall not discharge the Sellers from
        their obligations under this Agreement (save to the extent of the set
        off), whether under clause 7, or otherwise, or under the Tax Deed. If,
        however, it is subsequently agreed between the relevant parties or
        determined that the Buyer was not entitled to withhold anything, or that
        it withheld more than it was entitled to withhold, the Buyer shall pay
        to the Seller the amount improperly withheld, together with interest
        under clause 16.5, save that the Buyer shall be entitled to a credit
        against such obligation for any interest paid to the relevant Seller
        under clause 6.

18.     ENTIRE AGREEMENT

18.1    This Agreement and each document referred to in it constitutes the
        entire agreement and supersedes any previous agreements between the
        parties relating to the subject matter of this Agreement.

18.2    The Buyer acknowledges and represents that it has not relied on or been
        induced to enter into this Agreement and the documents referred to in it
        by a representation, warranty or undertaking (whether contractual or
        otherwise) given by the Sellers other than the Warranties or otherwise
        as set out in this Agreement or each document referred to in it.

18.3    The Sellers are not liable to the Buyer (in equity, contract or tort
        (including negligence), under the Misrepresentation Act 1967 or in any
        other way) for a representation, warranty or undertaking that is not set
        out in this Agreement or any document referred to in this Agreement.

18.4    The Sellers acknowledge and represent that they have not relied on or
        been induced to enter into this Agreement and the documents referred to
        in it by a representation, warranty or undertaking (whether contractual
        or otherwise) given by the Buyer other than as set out in this Agreement
        or any document referred to in this Agreement.

18.5    The Buyer is not liable to the Sellers (in equity, contract or tort
        (including negligence), under the Misrepresentation Act 1967 or in any
        other way) for a representation, warranty or undertaking relating to the
        subject matter of this Agreement that is not set out in this Agreement
        or any document referred to in this Agreement.

18.6    The Sellers agree that no Buyer's Group Undertaking or adviser or
        provider of finance to the Buyer or other Buyer's Group Undertaking
        shall have any liability to the Sellers (in

                                      -29-

<PAGE>
        equity, contract or tort (including negligence), under the
        Misrepresentation Act 1967 or in any other way) for a representation,
        warranty or undertaking relating to the subject matter of this Agreement
        that is not set out in this Agreement or any document referred to in
        this Agreement.

18.7    The Buyer and the Sellers agree that neither party shall bring any
        action against any of the others or against any Buyer's Group
        Undertaking in relation to (a) any previous agreement(s) between them
        relating to the subject matter of this Agreement or (b) any
        representation, warranty or undertaking relating to the subject matter
        of this Agreement other than the Warranties or otherwise as set out in
        this Agreement or each document referred to in it, save that this clause
        shall not affect any rights that either of the Sellers may have against
        each other under any other agreement between them in relation to the
        Group.

        In particular, but without limitation, the only remedy available to the
        Buyer for breach of the Warranties shall be the right to terminate under
        clause 8 prior to Completion and/or to seek damages for breach of
        contract under the terms of this Agreement.

18.8    Nothing in this clause 18 shall have the effect of limiting or
        restricting any liability arising as a result of any fraud committed by
        any of the parties in connection with the negotiation, preparation,
        execution and performance of this Agreement and of each document
        referred to in it.

19.     ASSIGNMENT

19.1    The Sellers agree that the benefit of every provision in this Agreement
        is given to the Buyer for itself and its successors in title and
        assigns. Accordingly, the Buyer (and its successors and assigns) may,
        without the consent of the Sellers, assign the benefit of all or any of
        the Sellers' obligations under this Agreement and/or any other benefit
        arising under or out of this Agreement.

        Provided Always that the Buyer shall not be entitled to assign the
        benefit of any of the provisions of this Agreement or to transfer
        ownership of the Shares without the written consent of the Sellers
        (except to a member of the Buyer's consolidated group and provided the
        Guarantor remains obligated) unless it has first paid to the Sellers all
        sums potentially due to them under the Loan Notes, measured at their
        outstanding face value (or potential face value if they have not yet
        been issued) inclusive of interest up to the date of payment, or out of
        the Escrow Account free from any set off that has not been agreed by the
        relevant Seller.

19.2    Subject to the limited transferability rights set out in the Escrow Loan
        Notes, each of the Sellers shall be entitled either in whole or in part
        to assign, or otherwise transfer, declare a trust of the benefit of, or
        in any other way alienate any of his rights under this Agreement
        (including his rights under the Loan Notes or to receive those Loan
        Notes that have not yet been issued).

20.     NOTICES

20.1    A notice or other communication under or in connection with this
        Agreement (a "Notice") shall be:

                                      -30-

<PAGE>
        20.1.1    in writing;

        20.1.2    in the English language; and

        20.1.3    delivered personally or sent by first class post pre-paid
                  recorded delivery (and air mail if overseas) or by fax to the
                  party due to receive the Notice to the address set out in
                  clause 20.3 or to another address, person, or fax number
                  specified by that party by not less than seven days' written
                  notice to the other party received before the Notice was
                  despatched.

20.2    Unless there is evidence that it was received earlier, a Notice is
        deemed given if:

        20.2.1    delivered personally, when left at the address referred to in
                  clause 20.1.3;

        20.2.2    sent by mail, except air mail, two Business Days after posting
                  it;

        20.2.3    sent by air mail, six Business Days after posting it; and

        20.2.4    sent by fax, when confirmation of its transmission has been
                  recorded by the sender's fax machine.

20.3    The address referred to in clause 20.1.3 is:

<TABLE>
<CAPTION>
NAME OF PARTY    ADDRESS                      FACSIMILE NO.     MARKED FOR THE
                                                                ATTENTION OF
<S>              <C>                          <C>               <C>
AFR              Tower Mill                   0189 285 2587
                 Mark Cross
                 Crowborough
                 East Sussex TN6 3PL
COPY TO          SPV Management Limited       020 7220 7819     Martin
                 78 Cannon Street                               McDermott/James
                 London                                         Fairrie
                 EC4P 5LN

COPY TO          Eversheds                    020 7919 4919     Bruce Gripton
                 Senator House
                 85 Queen Victoria Street
                 London EC4V 4JL

PM               The Old Coach House          01580 819 154
                 Shoyswell Manor
                 Sheepstreet Lane
                 Etchingham
                 East Sussex
                 TN19 7AZ
</TABLE>

                                      -31-

<PAGE>
<TABLE>
<S>              <C>                          <C>               <C>
COPY TO          Richards Butler              020 7247 5091     Philip Allford
                 Beaufort House
                 15 St Botolph Street
                 London EC3A 7EE

THE BUYER        Wilmington Trust              +13026364158     Howard Cohen,
                 Rodney Square North
AND/OR THE       1100 N. Market Street                          Senior Vice President
GUARANTOR        Wilmington
                 Delaware 19890
                 USA

COPIES TO        Wilmington Trust              +13024274771     David C Roulston, Esq.
                 Rodney Square North
                 1100 N.Market Street
                 Wilmington
                 Delaware 19890
                 USA

                 Clifford Chance LLP          +442076005555     Martin Richards
                 200 Aldersgate Street
                 London EC1A 4JJ
                 United Kingdom
                 (Ref: MER/W1539/00081).
</TABLE>

21.     GOVERNING LAW AND JURISDICTION

21.1    This Agreement is governed by English law.

21.2    The courts of England have exclusive jurisdiction to settle any dispute
        arising from or connected with this Agreement (a "DISPUTE").

21.3    The parties agree that they shall not commence proceedings in any court
        other than the courts of England.

21.4    The parties agree that the documents which start any Proceedings and any
        other documents required to be served in relation to those Proceedings
        may be served on the Seller in accordance with clause 21. These
        documents may, however, be served in any other manner allowed by law.

21.5    The Guarantor irrevocably agrees that any notice or document may be
        sufficiently and effectively served on it in connection with proceedings
        in England by service on the Buyer, if no replacement agent has been
        appointed and notified to the Sellers under clause 21.7, or on the
        replacement agent if one has been so appointed and notified to the
        Sellers.

                                      -32-
<PAGE>
21.6    Any notice or document served pursuant to this clause shall be marked
        for the attention of:

        21.6.1    The Company Secretary at the registered office of the Buyer or
                  such other address within England as may be notified to the
                  Sellers by the Guarantor; or

        21.6.2    such other person as is appointed as agent for service
                  pursuant to clause 21.7 below.

21.7    If the agent referred to in clause 21.5 (or any replacement agent
        appointed pursuant to this clause) at any time ceases for any reason to
        act as such, the Guarantor shall appoint a replacement agent to accept
        service having an address for service in England and shall notify the
        Sellers of the name and address of the replacement agent. Failing such
        appointment and notification, the Sellers shall be entitled by notice to
        the Guarantor to appoint such a replacement; provided that in cases
        where service is effected upon a replacement agent appointed by the
        Sellers in accordance with this sub-clause a copy of the relevant notice
        or document shall at the same time be forwarded to the last known
        business address of the Guarantor.

22.     COUNTERPARTS

        This Agreement may be executed in any number of counterparts, each of
        which when executed and delivered is an original and all of which
        together evidence the same agreement.

                                      -33-
<PAGE>
EXECUTED by the parties:

Signed by ANTHONY FRANCIS     )       A. F. RAIKES
RAIKES                        )

Signed by PIERS MINOPRIO      )       P. MINORPIO

Signed by NORMA CLOSS         )       N. CLOSS
a duly authorised             )
representative of             )
WILMINGTON TRUST              )
(UK) LIMITED                  )

Signed by HOWARD COHEN        )       H. COHEN
a duly authorised             )
representative of             )
WILMINGTON TRUST              )
CORPORATION                   )

                                      -92-

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