Document:

EXHIBIT 10.4

                          PLEDGE AND SECURITY AGREEMENT

      This PLEDGE AND SECURITY AGREEMENT made as of the 20th day of December,
2000, is by and between FIBERCORE, INC., a Nevada corporation with an address at
253 Worcester Road, Charlton, Massachusetts 01507 (hereinafter the "Pledgor")
and FLEET NATIONAL BANK, a national banking association with an office at 100
Federal Street, Boston, Massachusetts 02110 (hereinafter the "Bank").

      This Pledge and Security Agreement is executed and delivered to the Bank
as one of the Supplemental Documents referred to in a Loan Agreement of even
date herewith by and between the Pledgor and the Bank (as amended from time to
time, the "Agreement") and shall not be effective, and no security interest
hereunder shall attach, until the Bank makes an election under Section 9.02 of
the Agreement. In order to induce the Bank to make loans (including any loan by
renewal or extension) or other financial accommodations to the Pledgor as set
forth in the Agreement, and in consideration thereof and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Pledgor hereby agrees as follows:

      1. Pledge of Collateral. In order to secure the payment and satisfaction
of all indebtedness, obligations and liabilities of the Pledgor to the Bank of
every kind and description, absolute or contingent, due or to become due,
whether for payment or performance, now existing or hereafter arising,
regardless of how the same arise or by what instrument, agreement, or book
account they may be evidenced, or whether evidenced by any instrument, agreement
or book account, including without limitation all loans (including any loan by
renewal or extension), all indebtedness, all undertakings to take or refrain
from taking any action, all indebtedness, liabilities or obligations owing by
the Pledgor to others which the Bank may have obtained by purchase, negotiation,
discount, assignment or otherwise, and all interest, taxes, fees, charges,
expenses and attorney's fees chargeable to the Pledgor or incurred by the Bank
in connection with any transaction between the Pledgor and the Bank, and further
specifically including without limitation all obligations of the Pledgor to the
Bank pursuant to the Agreement (any and all of the foregoing collectively
referred to as the "Obligations"), the Pledgor hereby pledges, assigns and
transfers to the Bank, and grants to the Bank a continuing security interest in
and to, and control of, the shares of securities or other property described on
the attached Exhibit A, made a part hereof, and all other property described in
any other schedule annexed hereto together with any other property delivered to
the Bank hereunder and all additions thereto and substitutions therefor and all
cash proceeds thereof (all of such securities or other property collectively
referred to as the "Collateral").

      2. Rights and Remedies. The Bank may transfer the Collateral into its name
or that of its nominee and may receive the income and any distributions thereon
and hold the same as Collateral for the Obligations, or apply the same to any
Obligation, whether or not a default or an Event of Default has occurred. The
Pledgor hereby authorizes and empowers the Bank to receive and accept said
Collateral; to use said Collateral as collateral security for the payment of any
and all Obligations of the Pledgor to the Bank and for the payment of any or all
of said Obligations of the Pledgor to the Bank due or to become due; to exercise
any and all rights inherent in the ownership of the Collateral and to dispose of
the same or any part thereof at any time and to apply the proceeds thereof all
in any manner deemed proper by the Bank, as fully and completely as if done by
the Pledgor; and to deal with said Collateral in the same way and with the same
force and effect as if the Bank were the absolute owner thereof.

      3.    Covenants and Warranties.

            3.1 The Pledgor agrees to reimburse the Bank, on demand, for any
amounts paid or advanced by the Bank for the purpose of preserving the
Collateral or any part thereof and/or any liabilities or expenses incurred by
the Bank as the transferor or holder of the Collateral.

            3.2 The Bank shall be under no duty to: (i) collect or protect the
Collateral or any proceeds thereof or give any notice with respect thereto; (ii)
preserve the rights of the Pledgor with respect to the Collateral against third
parties; (iii) preserve rights against any parties to any instrument or chattel
paper which may become a part of the Collateral; (iv) sell or otherwise realize
upon the Collateral; or (v) seek payment from any particular source. Without
limiting the generality of the foregoing, the Bank shall not be obligated to
take any action in connection with any conversion, call, redemption, retirement
or other event relating to any of the Collateral.

            3.3 If the Collateral shall at any time or from time to time become
insufficient or unsatisfactory to the Bank, the Pledgor shall, on demand,
pledge, assign, transfer and deposit with the Bank and grant to the Bank a
continuing security interest in and to such additional property satisfactory to
the Bank as the Bank may request.

            3.4 Any share, dividend, reclassification, readjustment or other
change declared or made in the capital structure of the company which has issued
the shares of securities pledged as Collateral hereunder, together with all new,
substituted and additional shares or other securities issued to the Pledgor by
reason of any such change, shall be held by the Bank under the terms of this
Agreement in the same manner as the shares of securities pledged as Collateral
hereunder.

            3.5 Pledgor hereby warrants and represents there are no restrictions
upon the transfer of any of the shares of securities pledged as Collateral
hereunder, other than may appear on the face of the share certificates, and that
the Pledgor has the right to transfer all such shares free of any encumbrances
and without obtaining the consents of any other shareholders.

      4.    General.

            4.1 Each reference herein to the Bank shall be deemed to include its
successors and assigns, and each reference to the Pledgor shall be deemed to
include the heirs, administrators, legal representatives, successors and assigns
of the Pledgor, all of whom are bound by the provisions hereof.

            4.2 The term "Pledgor" as used herein shall, if this instrument is
signed by more than one party, mean, unless this Agreement states otherwise or
unless the context otherwise requires, the "Pledgor and each of them" and each
and every undertaking shall be their joint and several undertaking, except that
the pledge of the Collateral shall be by each of the Pledgors in its several
respective properties. If any of the Pledgors shall be a partnership, the
agreements and obligations of the Pledgor herein contained shall remain in force
and applicable notwithstanding any changes in the individuals composing the
partnership; and the term "Pledgor" shall include any alternative or successive
partnerships, but predecessor partnerships and their partners shall not thereby
be released from any obligation or liability. If the Pledgor is a corporation,
it represents that the officer signing on its behalf has been duly authorized to
execute this Agreement for and on behalf of the corporation by its board of
directors and stockholders.

            4.3 No delay on the part of the Bank in exercising any rights
hereunder or failure to exercise the same shall operate as a waiver of such
rights; no notice to or demand on the Pledgor shall be deemed to be a waiver of
any obligations of the Pledgor or of the right of the Bank to take other or
further action without notice or demand as provided herein. In any event, no
modification or waiver of the provisions hereof will be effective unless in
writing and signed by the Bank, nor shall any waiver be applicable except in the
specific instance or matter for which given.

            4.4 In addition to and not in limitation of any other authority
granted hereunder, the Pledgor hereby appoints the Bank as his attorney-in-fact
to arrange for the transfer of the deposited shares on the books of the
companies represented thereby.

            4.5 Each provision of this Agreement shall be interpreted in
accordance with and in all respects governed by the laws of the Commonwealth of
Massachusetts, and should any portion of this Agreement be declared invalid for
any reason, such declaration shall have no effect upon the remaining portions of
this Agreement.

            4.6 Any notice given by the Pledgor shall be effective upon actual
receipt by an officer of the Bank at the Bank's address; any notice the Bank may
elect to give hereunder shall be effective when deposited in the United States
mail, return receipt requested, postage prepaid, and addressed to the Pledgor at
the address appearing on the books and records of the Bank for the Pledgor.

            4.7 PLEDGOR AND BANK (BY ACCEPTANCE OF THIS AGREEMENT) MUTUALLY
HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY
JURY IN RESPECT OF ANY CLAIM BASED HEREON, ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS AGREEMENT, THE NOTES OR ANY COLLATERAL DOCUMENTS EXECUTED
OR CONTEMPLATED TO BE EXECUTED IN CONNECTION HEREWITH OR ANY COURSE OF CONDUCT,
COURSE OF DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY
PARTY RELATED HERETO, INCLUDING, WITHOUT LIMITATION, ANY COURSE OF CONDUCT,
COURSE OF DEALINGS, STATEMENTS OR ACTIONS OF THE BANK RELATING TO THE
ADMINISTRATION OF THE LOANS OR ENFORCEMENT OF THE COLLATERAL DOCUMENTS, AND
AGREE THAT NEITHER PARTY WILL SEEK TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER
ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. EXCEPT AS
PROHIBITED BY LAW, EACH OF THE BORROWERS HEREBY WAIVES ANY RIGHT IT MAY HAVE TO
CLAIM OR RECOVER IN ANY LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR
CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL
DAMAGES. PLEDGOR CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE BANK
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE BANK WOULD NOT, IN THE EVENT
OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER. THIS WAIVER CONSTITUTES A
MATERIAL INDUCEMENT FOR THE BANK TO ACCEPT THIS AGREEMENT AND MAKE THE LOANS
EVIDENCED BY THE NOTES.

      4.8 All capitalized terms not otherwise defined herein shall have the
meanings ascribed to them in the Agreement.

      IN WITNESS WHEREOF, the Pledgor has caused these presents to be executed
as a sealed instrument as of the date first above written.

                                    FIBERCORE, INC.

___________________________          By: _________________________
Witness                                   Name:
                                          Title:

Accepted by FLEET NATIONAL BANK as of the 20th day of December, 2000.

By:___________________________________
   Name:
   Title:

<PAGE>

                                    EXHIBIT A

All of the following property, together with all dividends and distributions
pertaining thereto and all substitutions therefor and cash proceeds thereof:

                      ALL SHARES OF STOCK NOW OR HEREAFTER

                       IN THE NAME OF FIBERCORE, INC.,
         IN ANY SUBSIDIARY (AS SUCH TERM IS DEFINED IN THE AGREEMENT)
                             OF FIBERCORE, INC.,
              INCLUDING ALL SHARES OF STOCK IN ________________

                         NOW OR HEREAFTER IN THE NAME OF

                               FIBERCORE, INC.

               EVIDENCED BY THE FOLLOWING STOCK CERTIFICATE(S):EXHIBIT 10.5

                 COLLATERAL ASSIGNMENT OF PATENTS AND TRADEMARKS

                             AND SECURITY AGREEMENT

            This Assignment is made as of the 20th day of December, 2000 between
FIBERCORE INC., a Nevada corporation with its principal place of business at 253
Worcester Road, Charlton, Massachusetts 01507 ("Assignor") and FLEET NATIONAL
BANK, a national banking association with an office at 100 Federal Street,
Boston, Massachusetts 02110 ("Bank").

            BACKGROUND. This Assignment is executed and delivered to the Bank as
one of the Supplemental Documents referred to in a Loan Agreement dated of even
date herewith by and between the Assignor and the Bank (as amended from time to
time, the "Loan Agreement") and shall not be effective, and no security interest
created hereunder shall attach, until the Bank makes an election under Section
9.02 of the Loan Agreement. Assignor has executed and delivered to the Bank a
certain Revolving Credit Note dated of even date herewith in the principal
amount of Ten Million and 00/100 Dollars ($10,000,000.00) pursuant to the
Agreement. In order to induce Bank to execute and deliver the Loan Agreement,
Assignor has agreed to assign to Bank certain patent and trademark rights.

            NOW, THEREFORE, in consideration of the premises, Assignor hereby
agrees with Bank as follows:

            1. To secure the complete and timely satisfaction of all Obligations
(such term, as used herein, shall have the same meaning as provided in the Loan
Agreement) of the Assignor to the Bank, Assignor hereby assigns, pledges and
grants to the Bank a continuing security interest in and to the Assignor's
right, title and interest in and to the patent applications, patents, trademarks
and trademark applications listed in Exhibit A hereto, including without
limitation all proceeds thereof (such as, by way of example, license royalties
and proceeds of infringement suits), the right to sue for past, present and
future infringements, all rights corresponding thereto throughout the world and
all re-issues, divisions, continuations, renewals, extensions and
continuations-in-part thereof (collectively, the "Patents and Trademarks").

            2. Assignor covenants and warrants that:

            (a) The Patents and Trademarks are subsisting and have not been
adjudged invalid or unenforceable, in whole or in part;

            (b) To the best of Assignor's knowledge, each of the Patents and
Trademarks is valid and enforceable and Assignor has notified Bank in writing of
all prior art (including public uses and sales) of which it is aware;

            (c) Assignor is the sole and exclusive owner of the entire and
unencumbered right, title and interest in and to each of the Patents and
Trademarks, free and clear of any liens, charges and encumbrances, including
without limitation licenses, shop rights and covenants by Assignor not to sue
third persons; and

            (d) Assignor has the unqualified right to enter into this Agreement
and perform its terms and has entered and will enter into written agreements
with each of its present and future employees, agents and consultants which will
enable it to comply with the covenants herein contained.

            3. Assignor agrees that, until all of the Obligations shall have
been satisfied in full, it will not enter into any agreement (for example, a
license agreement without receiving fair value in royalty payments or other
consideration) which is inconsistent with Assignor's obligations under this
Agreement, without Bank's prior written consent which shall not be unreasonably
withheld or delayed.

            4. If, before the Obligations shall have been satisfied in full,
Assignor shall obtain rights to any new patentable inventions, or become
entitled to the benefit of any patent application, patent, trademark or
trademark applications for any reissue, division, continuation, renewal,
extension or continuation-in-part of any Patent and Trademark or any improvement
on any Patent and Trademark, the provisions of paragraph 1 shall automatically
apply thereto and Assignor shall give to Bank prompt notice thereof in writing.

            5. Assignor authorizes Bank to modify this Agreement by amending
Exhibit A to include any future patents and patent applications, trademarks and
trademark applications which are Patents and Trademarks under paragraph 1 or
paragraph 4 hereof.

            6. Unless and until there shall have occurred and be continuing an
Event of Default (as defined in the Loan Agreement) beyond any applicable cure
period, Bank hereby grants to Assignor the exclusive, non-transferable right and
license to make, have made, use and sell the inventions disclosed and claimed in
the Patents and Trademarks for Assignor's own benefit and account and for none
other. Assignor agrees not to sell or assign its interest in, or grant any
sublicense without receiving fair value in royalty payments or other
consideration under, the license granted to Assignor in this paragraph 6,
without the prior written consent of Bank, which consent shall not be
unreasonably withheld.

            7. If any Event of Default shall have occurred and be continuing
beyond any applicable cure period, Assignor's license under the Patents and
Trademarks as set forth in paragraph 6, may at the election of the Bank be
terminated forthwith, and Bank shall have, in addition to all other rights and
remedies given it by this Agreement, those allowed by law and the rights and
remedies of a secured party under the Uniform Commercial Code as enacted in any
jurisdiction in which the Patents and Trademarks may be located and, without
limiting the generality of the foregoing, Bank may immediately, without demand
of performance and without other notice (except as set forth below) or demand
whatsoever to Assignor, all of which are hereby expressly waived, and without
advertisement, sell at public or private sale or otherwise realize upon, in
Massachusetts or elsewhere, the whole or from time to time any part of the
Patents and Trademarks, or any interest which Assignor may have therein, and
after deducting from the proceeds of sale or other disposition of the Patents
and Trademarks all expenses (including all reasonable expenses for brokers' fees
and legal services), shall apply the residue of such proceeds toward the payment
of the Obligations. Any remainder of the proceeds after payment in full of the
Obligations shall be paid over to Assignor. Notice of any sale or other
disposition of the Patents and Trademarks shall be given to Assignor at least
five (5) days before the time of any intended public or private sale or other
disposition of the Patents and Trademarks is to be made, which Assignor hereby
agrees shall be reasonable notice of such sale or other disposition. At any such
sale or other disposition, any holder of any of the Notes or Bank may, to the
extent permissible under applicable law, purchase the whole or any part of the
Patents and Trademarks sold, free from any right of redemption on the part of
Assignor, which right is hereby waived and released.

            8. At such time as Assignor shall completely satisfy all of the
Obligations, Bank shall execute and deliver to Assignor all deeds, assignments
and other instruments as may be necessary or proper to re-vest in Assignor full
title to the Patents and Trademarks, subject to any disposition thereof which
may have been made by Bank pursuant hereto.

            9. Any and all reasonable fees, costs and expenses, of whatever kind
or nature, including reasonable attorneys' fees and legal expenses, incurred by
Bank in connection with the preparation of this Agreement and all other
documents relating hereto and the consummation of this transaction, the filing
or recording of any documents (including all taxes in connection therewith) in
public offices, the payment or discharge of any taxes, counsel fees, maintenance
fees, encumbrances or otherwise protecting, maintaining, preserving the Patents
and Trademarks, or in defending or prosecuting any actions or proceedings
arising out of or related to the Patents and Trademarks, shall be borne and paid
by Assignor on demand by Bank and until so paid shall be added to the principal
amount of the Obligations and shall bear interest at the rate prescribed in the
Loan Agreement.

            10. Assignor shall have the duty, through counsel acceptable to
Bank, to prosecute diligently any patent application of the Patents and
Trademarks pending as of the date of this Agreement or thereafter until the
Obligations shall have been paid in full, to make application on unpatented but
patentable inventions and to preserve and maintain all rights in patent
applications and patents of the Patents and Trademarks. Any expenses incurred in
connection with such an application shall be borne by Assignor. Assignor shall
not abandon any right to file a patent application, or any pending patent
application or patent without the consent of Bank, which consent shall not be
unreasonably withheld.

            11. Bank shall have the right but shall in no way be obligated to
bring suit in its own name to enforce the Patents and Trademarks and any license
thereunder, in which event Assignor shall at the request of Bank do any and all
lawful acts and execute any and all proper documents required by Bank in aid of
such enforcement and Assignor shall promptly, upon demand, reimburse and
indemnify Bank for all reasonable costs and expenses incurred by Bank in the
exercise of its rights under this paragraph 11.

            12. No course of dealing between Assignor and Bank, nor any failure
to exercise, nor any delay in exercising, on the part of Bank, any right, power
or privilege hereunder or under the Loan Agreement shall operate as a waiver
thereof; nor shall any single or partial exercise of any right, power or
privilege hereunder or thereunder preclude any other or further exercise thereof
or the exercise of any other right, power or privilege.

            13. All of Bank's rights and remedies with respect to the Patents
and Trademarks, whether established hereby or by the Loan Agreement, or by any
other agreements or by law shall be cumulative and may be exercised singularly
or concurrently.

            14. The provisions of this Agreement are severable, and if any
clause or provision shall be held invalid and unenforceable in whole or in part
in any jurisdiction, then such invalidity or unenforceability shall affect only
such clause or provision, or part thereof, in such jurisdiction, and shall not
in any manner affect such clause or provision in any other jurisdiction, or any
other clause or provision of this Agreement in any jurisdiction.

            15. This Agreement is subject to modification only by a writing
signed by the parties, except as provided in paragraph 5.

            16. The benefits and burdens of this Agreement shall inure to the
benefit of and be binding upon the respective successors and permitted assigns
of the parties.

            17. The validity and interpretation of this Agreement and the rights
and obligations of the parties shall be governed by the laws of the Commonwealth
of Massachusetts.

            IN WITNESS WHEREOF, the parties hereto have caused this Assignment
to be executed by their duly authorized officer(s) under seal as of the day and
year first-above written.

                                          FIBERCORE, INC.

____________________________              By:_______________________________
Witness                                      Name:
                                             Title:

                                          FLEET NATIONAL BANK

____________________________              By:_______________________________
Witness                                      Name:
                                             Title:

<PAGE>

                        THE COMMONWEALTH OF MASSACHUSETTS

Worcester, ss.                                                 December 19, 2000

            Then personally appeared the above-named _______________________,
_________________________ of Fibercore, Incorporated, and acknowledged the
foregoing instrument to be his free act and deed and the free act and deed of
Fibercore, Inc., before me.

                                          --------------------------------------
                                          Notary Public
                                          My Commission Expires:

                        THE COMMONWEALTH OF MASSACHUSETTS

Worcester, ss.                                                 December 19, 2000

            Then personally appeared the above-named Alden F. L. Harris, II,
Vice President of Fleet National Bank, and acknowledged the foregoing instrument
to be his free act and deed and the free act and deed of Fleet National Bank,
before me.

                                          --------------------------------------
                                          Notary Public
                                          My Commission Expires:

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