Document:

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                                                                   EXHIBIT 10.14

                              SECURITY AGREEMENT

     SECURITY AGREEMENT (this "Agreement"), dated as of December 20, 2000, made
by OMEGA SHIPYARD, INC., a Delaware corporation, OMEGA NETS, INC., a Delaware
corporation, PROTEIN FINANCE COMPANY, a Delaware corporation, PROTEIN OPERATING
COMPANY, a Delaware corporation, PROTEIN SECURITIES COMPANY, a Delaware
corporation and PROTEIN (U.S.A.) COMPANY, a Delaware corporation (each a
"Pledgor" and, collectively, "Pledgors"), in favor of BANK OF AMERICA, N.A., a
national banking association, located at 901 Main Street, 6th Floor, Dallas,
Texas 75202 (the "Bank").

                              W I T N E S S E T H:

     WHEREAS, pursuant to that certain Loan and Security Agreement (as the same
may be amended, modified and/or restated from time to time, the "Loan
Agreement"), dated as of the date hereof between OMEGA PROTEIN CORPORATION, a
Delaware corporation, and OMEGA PROTEIN, INC., a Virginia corporation
(collectively, "Borrowers"), and Bank, Bank has agreed, subject to the terms and
conditions set forth therein, to make loans to Borrowers from time to time in
the principal amounts set forth therein;

     WHEREAS, Bank is willing to make loans under the Loan Agreement but only
upon the condition, among others, that Pledgors shall have executed and
delivered to Bank, for the benefit of Bank, this Agreement;

     WHEREAS, each Pledgor has determined and acknowledges that as the result of
the consummation of the transactions contemplated by the Loan Agreement, such
Pledgor will receive, directly or indirectly, reasonably equivalent value for
entering into this Security Agreement.

     NOW, THEREFORE, in consideration of the premises and of the mutual
covenants herein contained and for other good and valuable consideration, the
receipt of which is hereby acknowledged, Pledgors agree with Bank as follows:

     1.   Defined Terms.  Unless otherwise defined herein, capitalized terms
used in this Agreement shall have the meanings assigned to such terms in the
Loan Agreement and the following terms shall have the meaning indicated:

          "Code" means the Uniform Commercial Code as the same may from time to
     time be in effect in the State of Texas and of any other state to the
     extent the laws of the State of Texas require application of the same.

          "Accounts", "Inventory", "Equipment", "Fixtures," "Financial Assets,"
     "Goods", "General Intangibles", "Instruments", "Documents", "Investment
     Property" and "Chattel Paper" shall each have the meaning given to such
     term in Chapter 9 of the Code.
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          "Guaranty" shall mean that certain Unlimited Guaranty dated as of the
     date hereof executed by Pledgors for the benefit of Bank with respect to
     the Secured Obligations.

     2.   Assignment and Grant of Security Interest.  As collateral security for
the prompt and complete payment and performance when due of the Secured
Obligations and each Pledgor's obligations under the Guaranty and in order to
induce Bank to enter into the Loan Agreement and make loans thereunder, each
Pledgor grants to Bank, for Bank's benefit, a continuing first priority security
interest in all of such Pledgor's Accounts, Inventory, Equipment, Fixtures,
Financial Assets, Goods, General Intangibles, Instruments, Documents, Investment
Property and Chattel Paper, whether now owned or hereafter acquired, whether now
existing or hereafter created or arising and wherever located, and all proceeds
and products of any of the foregoing (all of the foregoing is referred to herein
as the "Collateral").

     3.   Representations and Warranties.  Each Pledgor hereby represents and
warrants to Bank as follows:

          (a) No security agreement, financing statement, equivalent security or
     lien instrument or continuation statement covering any part of the
     Collateral is on file or of record in any public office, except such as may
     have been filed by such Pledgor in favor of Bank pursuant to this Agreement
     or except such as will be terminated in conjunction with the financing
     contemplated by the Loan Agreement.

          (b) As of the date hereof, this Agreement constitutes a valid and
     continuing first lien on and security interest in the Collateral and, upon
     the filing of an appropriate financing statement in the appropriate
     jurisdiction, will constitute a first perfected security interest in the
     Collateral in such jurisdiction with respect to the Collateral in which a
     security interest may be perfected by central filing pursuant to the Code,
     in favor of Bank prior to all other liens.  All action necessary or
     desirable, other than the filing of a financing statement, to protect and
     perfect such security interest in the Collateral has been duly taken.

          (c) Such Pledgor has the unqualified right to enter into this
     Agreement and perform its terms.

          (d) Such Pledgor shall promptly notify Bank in writing of any suit,
     action or proceeding brought against such Pledgor relating to, concerned
     with or affecting the Collateral and shall, on request, deliver to Bank a
     copy of all pleadings, papers, orders or decrees theretofore and thereafter
     filed in any such suit.

     4.   Covenants.  Each Pledgor covenants and agrees with Bank that from and
after the date of this Agreement and until the Secured Obligations are fully
satisfied:

          (a) Further Documentation; Pledge of Instruments.  At any time and
     from time to time, upon the reasonable request of Bank, and at the sole
     expense of such Pledgor, such Pledgor will promptly and duly execute and
     deliver any and all such further instruments and documents and take such
     further action as Bank may reasonably deem

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     desirable to obtain the full benefits of this Agreement and the rights
     herein granted, including, without limitation, the filing of any financing
     or continuation statements under the Code in effect in any jurisdiction
     with respect to the liens and security interests granted hereby. Such
     Pledgor also hereby authorizes Bank to file any such financing or
     continuation statement without the signature of such Pledgor to the extent
     permitted by applicable law. If any amount payable under or in connection
     with the Collateral, or any part thereof, shall be or become evidenced by
     any promissory note or other Instrument, such note or Instrument shall be
     immediately pledged to Bank hereunder, and shall be duly endorsed in a
     manner satisfactory to Bank and delivered to Bank.

          (b) Indemnification.  In any suit, proceeding or action brought by
     Bank relating to the Collateral, Pledgors will, jointly and severally,
     save, indemnify and keep Bank harmless from and against all expense, loss
     or damage suffered by reason of any defense, setoff, counterclaim,
     recoupment or reduction of liability whatsoever of the defendant therein,
     arising out of a breach by any Pledgor of any obligation or arising out of
     any other agreement, indebtedness or liability at any time owing to or in
     favor of such defendant or its successors from any Pledgor, and all such
     obligations of any Pledgor shall be and remain enforceable only against
     Pledgors and shall not be enforceable against Bank.

          (c) Continuous Perfection.  Such Pledgor will not change its name or
     identity in any manner which might make any financing or continuation
     statement filed hereunder seriously misleading within the meaning of
     Section 9.402 of the Code (or any other then applicable provision of the
     Code) unless such Pledgor shall have given Bank at least thirty (30) days'
     prior written notice thereof and shall have taken all action (or made
     arrangements to take such action substantially simultaneously with such
     change if it is impossible to take such action in advance) necessary or
     reasonably requested by Bank to amend such financing statement or
     continuation statement so that it is not seriously misleading.

          (d) No Liens.  Such Pledgor will not create, grant or suffer to exist
     any liens or security interests in any of the Collateral other than the
     security interests granted for the benefit of Bank.

     5.   Survival of Representations and Warranties.  All representations and
warranties of Pledgors herein shall survive the date hereof and shall be deemed
to have been made continuously, except that representations and warranties made
as of a specific date shall have been true and correct as of such date.

     6.   Remedies.  Bank shall have all of the rights and remedies provided for
in this Agreement, the rights and remedies granted a secured party in the Code,
and any and all of the rights and remedies at law and in equity, all of which
shall be deemed cumulative.

     7.   Filing as Financing Statement.  This Agreement may be presented to
filing officers for recordation as a financing statement or other document
evidencing the security interest created hereunder.

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     8.   Duration.  Notwithstanding anything to the contrary contained herein,
this Agreement shall continue in full force and effect until all Secured
Obligations have been indefeasibly paid in full.

     9.   Benefit.   This Agreement shall be binding upon and inure to the
benefit of Pledgors and Bank and their respective successors and assigns;
provided, however, no Pledgor may assign any of its obligations hereunder.

     10.  Governing Law.  This Agreement shall be construed and enforced in
accordance with and governed by the laws of the State of Texas other than its
conflicts of laws principles.

     IN WITNESS WHEREOF, Pledgors have executed and delivered this Security
Agreement on the date first set forth above.

                              PLEDGORS:

                                      OMEGA SHIPYARD, INC.

1717 St. James Place, Suite 550       By:
Houston, Texas 77056                  Name:
                                      Title:

                                      OMEGA NETS, INC.

1717 St. James Place, Suite 550       By:
Houston, Texas 77056                  Name:
                                      Title:

                                      PROTEIN FINANCE COMPANY

1717 St. James Place, Suite 550       By:
Houston, Texas 77056                  Name:
                                      Title:

                                      PROTEIN OPERATING COMPANY

1717 St. James Place, Suite 550       By:
Houston, Texas 77056                  Name:
                                      Title:

                                      PROTEIN SECURITIES COMPANY

1717 St. James Place, Suite 550       By:
Houston, Texas 77056                  Name:
                                      Title:

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                                      PROTEIN (U.S.A.) COMPANY

1717 St. James Place, Suite 550       By:
Houston, Texas 77056                  Name:
                                      Title:

                                       5<PAGE>

                                                                   EXHIBIT 10.15

                            UNCONDITIONAL GUARANTY

     1.   FOR VALUE RECEIVED and in consideration of any loan or advance now or
hereafter made pursuant to that certain Loan and Security Agreement, dated as of
the date hereof, between Bank of America, N.A. ("Lender") and Omega Protein
Corporation, a Delaware corporation, and Omega Protein, Inc., a Virginia
corporation (collectively referred to herein as "Borrower") (as the same may be
amended, restated, renewed, extended, supplemented, or otherwise modified from
time to time, the "Loan Agreement"), the undersigned (each a "Guarantor" and,
collectively, "Guarantors"), hereby absolutely and unconditionally, jointly and
severally, guarantee in favor of Lender, its successors and assigns, the prompt
payment when due of all indebtedness, obligations, interest (including any
interest which, but for the application of the provisions of the United States
Bankruptcy Code, would have accrued on amounts owed to Lender by Borrower),
principal, fees, expenses (including, without limitation, the reasonable
attorneys' fees of Lender) and all other obligations of Borrower to Lender
however and whenever incurred or evidenced, whether direct or indirect, absolute
or contingent, or due or to become due, including, without limitation, all such
obligations represented by, or arising in connection with, (i) the Loan
Agreement and (ii) the Notes (as such term is defined in the Loan Agreement)
(all of foregoing obligations, indebtedness and liabilities are referred to
herein collectively as the "Guaranteed Debt").  This is an irrevocable,
unconditional, unlimited and continuing guaranty of payment, and not a guaranty
of collection, and Lender may enforce each Guarantor's obligations hereunder
without first suing or enforcing its rights or remedies against Borrower, any
other Guarantor, or any other obligor or enforcing or collecting any present or
future collateral security for the Guaranteed Debt.

     2.   Payment of any sum or sums due to Lender hereunder will be made by
each Guarantor immediately upon demand by Lender.  Each Guarantor hereby
transfers and conveys to Lender any and all of its balances, credits, deposits,
accounts, items and monies now or hereafter in possession or control of, or
otherwise with Lender, and Lender is hereby given a security interest upon and
in all property of each Guarantor of every kind and description now or hereafter
in the possession or control of Lender for any reason, including all dividends
and distributions or other rights in connection therewith.  Each Guarantor
agrees that its obligation hereunder shall not be discharged or impaired in any
respect by reason of any failure by Lender to perfect, or continue perfection
of, any lien or security interest in any security or any delay by Lender in
perfecting any such lien or security interest.

     3.   Each Guarantor hereby waives (a) notice of acceptance of this
Guaranty, (b) notice of the extension of credit by Lender to Borrower, (c)
notice of the occurrence of any breach or default by Borrower in respect of the
Guaranteed Debt, (d) notice of the sale or foreclosure on any collateral for the
Guaranteed Debt, (e) notice of the transfer of the Guaranteed Debt, or any part
thereof, to any third party, (f) demand for payment, presentment, protest,
notice of protest and non-payment, and other notice of default, notice of
acceleration and intention to accelerate, and (g) all other notices.  Each
Guarantor also consents to and waives notice of any arrangements or settlements
made in or out of court in the event of receivership, liquidation, readjustment,
any proceeding under Title 11 of the United States Code (entitled "Bankruptcy")
as amended, or assignment for the benefit of creditors of Borrower or any other
obligor, and anything whatever
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whether or not herein specified which may be done or waived by or between Lender
and Borrower, or Borrower and any other person whose claim against Borrower has
been or shall be assigned or transferred to Lender. Each Guarantor agrees that
if any notification of intended disposition of collateral or of any other act by
Lender is required by law and a specific time period is not stated therein, such
notification, if mailed by first class mail at least five (5) days before such
disposition or act, postage prepaid, addressed to such Guarantor either at the
address shown below or at any other address of such Guarantor appearing on the
records of Lender, shall be deemed reasonably and properly given. Lender may,
without notice of any kind, sell, assign or transfer any or all of the
Guaranteed Debt and in such event each and every immediate and successive
assignee, transferee or holder of any of the Guaranteed Debt shall have the
right to enforce this Guaranty, by suit or otherwise for the benefit of such
assignee, transferee or holder, as fully as if such assignee, transferee or
holder were herein by name specifically given such rights, powers and benefits;
Lender shall have an unimpaired right prior and superior to that of any such
assignee, transferee or holder to enforce this Guaranty for the benefit of
Lender as to such of the Guaranteed Debt as is not sold, assigned or
transferred. EACH GUARANTOR HEREBY WAIVES ANY AND ALL RIGHTS TO A TRIAL BY JURY
IN ANY ACTION OR PROCEEDING BASED HEREON.

     4.   Each Guarantor hereby consents and agrees to, and acknowledges that
its obligations hereunder shall not be released or discharged by, the following:
(a) the renewal, extension, modification, increase, amendment or alteration of
the Loan Agreement and/or any Note, the Guaranteed Debt or any related document
or instrument; (b) any forbearance, waiver, extension or compromise granted to
Borrower, any Guarantor, or any other obligor by Lender; (c) the insolvency,
bankruptcy, reorganization, liquidation, merger or dissolution of Borrower, any
Guarantor, or any other obligor; (d) the invalidity, illegality or
unenforceability of all or any part of the Guaranteed Debt; (e) the full or
partial release of Borrower, any Guarantor, or any other obligor; (f) the
release, surrender, exchange, subordination, deterioration, waste, loss or
impairment (including without limitation negligent, willful, unreasonable or
unjustifiable impairment) of any collateral for the Guaranteed Debt; (g) the
failure of Lender to properly obtain, perfect or preserve any security interest
or lien in any such collateral; (h) the failure of Lender to exercise diligence,
commercial reasonableness or reasonable care in the preservation, enforcement or
sale of any such collateral; (i) the time for Borrower's performance of or
compliance with any covenant or agreement contained in the Loan Agreement and/or
any Note may be extended or such performance or compliance may be waived; and
(j) any other act or omission of Lender or Borrower which would otherwise
constitute or create a legal or equitable defense in favor of such Guarantor.

     5.   Each Guarantor hereby waives any rights of subrogation, reimbursement,
indemnity, or contribution which it may have as a result of paying the
Guaranteed Debt unless and until the Guaranteed Debt is paid in full.  No
Guarantor shall enforce, collect or sue upon any claims which it may have
against Borrower, as a result of its payment of the Guaranteed Debt, until the
Guaranteed Debt is paid in full.

     6.   Each Guarantor represents and warrants that (a) it has received or
will receive direct or indirect benefit from the making of this Guaranty and the
creation of the Guaranteed Debt; (b) such Guarantor is familiar with the
financial condition of Borrower and the value of any collateral security for the
Guaranteed Debt; (c) Lender has made no representations to such

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Guarantor in order to induce such Guarantor to execute this Guaranty; (d) as of
the date hereof, and after giving effect to this Guaranty and the contingent
obligation evidenced hereby, such Guarantor is, and will be, solvent, and has
and will have assets which, fairly valued, exceed its obligations, liabilities
and debts; (e) the execution, delivery and performance by such Guarantor of this
Guaranty and the consummation of the transactions contemplated hereunder do not,
and will not, contravene or conflict with any law, statute or regulation
whatsoever to which such Guarantor is subject or constitute a default (or an
event which with notice or lapse of time or both would constitute a default)
under, or result in the breach of, any indenture, mortgage, deed of trust,
charge, lien, or any contract, agreement or other instrument to which such
Guarantor is a party or which may be applicable to such Guarantor or any of its
assets; (f) this Guaranty is a legal and binding obligation of such Guarantor
and is enforceable in accordance with its terms, except as limited by
bankruptcy, insolvency or other laws of general application relating to the
enforcement of creditors' rights; (g) all representations and warranties made by
such Guarantor herein shall survive the execution hereof; and (h) the financial
statements and other financial information regarding such Guarantor heretofore
delivered to Lender are and shall be true and correct in all material respects
and fairly present the financial position of such Guarantor as of the dates
thereof, and no material adverse change has occurred in the financial condition
of such Guarantor reflected in the financial statements and other financial
information regarding such Guarantor heretofore delivered to Lender since the
date of the last statement thereof.

     7.   Each Guarantor hereby acknowledges that its withdrawal from, or
termination of, any ownership interest in Borrower or any affiliation with
Borrower shall not alter, affect or in any way limit its obligations hereunder.

     8.   If all or any part of the Guaranteed Debt at any time hereafter
exceeds the amount permitted by law, or Borrower is not liable because the act
of creating all or any part of the Guaranteed Debt is ultra vires, or the
officers or persons creating same acted in excess of their authority, and for
these reasons all or any part of the Guaranteed Debt cannot be enforced against
Borrower, such fact shall in no manner affect any Guarantor's liability
hereunder; but each Guarantor shall be liable hereunder, notwithstanding any
finding that Borrower is not liable for such indebtedness, and to the same
extent as such Guarantor would have been if the indebtedness of Borrower had
been enforceable against Borrower.

     9.   If Lender must rescind or restore any payment, or any part thereof,
received by Lender in satisfaction of the Guaranteed Debt, any prior release or
discharge from the terms of this Guaranty given to any Guarantor by Lender shall
be without effect, and this Guaranty shall be reinstated and remain in full
force and effect until all of the Guaranteed Debt is indefeasibly paid in full
in cash.  It is the intention of Borrower and each Guarantor that each
Guarantor's obligations hereunder shall not be discharged except by each
Guarantor's performance of such obligations and then only to the extent of such
performance.

     10.  Each Guarantor shall promptly furnish to Lender at any time and from
time to time such financial statements and other financial information of such
Guarantor as Lender may require, in form and substance satisfactory to Lender.

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     11.  All notices shall be given as set forth in Section 17(a) of the Loan
Agreement, if to Lender, at the address for notices set forth in such Loan
Agreement and if to a Guarantor, at the address set forth opposite such
Guarantor's name below.

     12.  This Guaranty shall be binding upon and inure to the benefit of the
parties hereto and their respective successors, assigns and legal
representatives; provided, however, that no Guarantor may assign any of its
obligations hereunder.

     13.  This Guaranty embodies the entire agreement between the parties
hereto, and supersedes all prior agreements, conditions and understandings, if
any, related to the subject matter hereof.  This Guaranty may be amended only by
a written instrument executed by Guarantors and Lender.  The substantive laws of
the State of Texas shall govern the validity, construction, enforcement and
interpretation of this Guaranty.  For purposes of litigation pertaining to this
Guaranty, each Guarantor hereby irrevocably consents and submits to the non-
exclusive jurisdiction of state and federal courts located in Dallas County.
Guarantors shall pay, jointly and severally, to Lender all costs and expenses
(including court costs and attorneys' fees) incurred by Lender in the
preservation or enforcement of its rights and remedies hereunder.

     EXECUTED December 20, 2000

                              GUARANTORS:

                              OMEGA SHIPYARD, INC.

                              By:_______________________________________________
                              Name:_____________________________________________
                              Title:____________________________________________

                              OMEGA NETS, INC.

                              By:_______________________________________________
                              Name:_____________________________________________
                              Title:____________________________________________

                              PROTEIN FINANCE COMPANY

                              By:_______________________________________________
                              Name:_____________________________________________
                              Title:____________________________________________

                              PROTEIN OPERATING COMPANY

                              By:_______________________________________________
                              Name:_____________________________________________
                              Title:____________________________________________

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                              PROTEIN SECURITIES COMPANY

                              By:_______________________________________________
                              Name:_____________________________________________
                              Title:____________________________________________

                              PROTEIN (U.S.A.) COMPANY

                              By:_______________________________________________
                              Name:_____________________________________________
                              Title:____________________________________________

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