Document:

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                                                                    EXHIBIT 10.5

                       SportsNuts.com International, Inc.
                         10421 South 400 West, Suite 550
                           Salt lake City, Utah 84095
                                 (801) 816-2500
                               Fax: (801) 816-2594

                                  May 31, 2000

Mr. Anthony Moore
Mr. Daniel Holden
Moore, Clayton & Co.
23852 Pacific Coast Highway, PMB 792
Malibu, California 90265

Dear Sirs:

         The purpose of this letter is to propose the terms of an agreement
("Agreement") between SportsNuts.com International, Inc., a Delaware
corporation, and its subsidiaries (collectively, "STSN"), and Moore, Clayton &
Co., a Nevada limited liability company ("MCC"). In this regard, STSN offers the
following:

         1. Engagement. STSN hereby engages MCC to serve as STSN's nonexclusive
financial consultant with respect to assisting STSN in structuring, documenting,
and/or arranging public or private equity or debt financing, on balance sheet or
off balance sheet, including the introduction of STSN to potential strategic
partners and providing advisory services with respect to business plans and
forecasts, management, and organizational structure.

         2. Compensation for Capital Raising. In connection with any funding,
capital, whether debt or equity, raised for or introduced to STSN as the result
of the direct and substantial efforts of MCC (collectively, a "Financing
Transaction"), STSN agrees to pay MCC, at the closing of any such Financing
Transaction, a "Success Fee" equal to the following:

              a. Cash. MCC shall receive a cash payment equal to ten percent
(10%) of the gross amount of any and all monies or other consideration provided
to STSN, including monies received from the conversion of warrants or other
convertible instruments issued in such Financing Transaction.

              b. Warrants. MCC shall receive warrants ("Warrants") to purchase
shares of STSN's Common Stock in an amount equal to ten percent (10%) of the
number of securities issued by STSN in a Financing Transaction. The Warrants
shall be exercisable for a period of five (5) years from the closing date of the
Financing Transaction at a price per share equal to the price paid for the
securities issued in the Financing Transaction. All shares underlying such
Warrants shall have piggy-back registration rights should STSN file a
registration statement other than a S-8 or S-4 registration statement.

              c. Limitation on Success Fee. Notwithstanding subsections (a)-(b)
in this Section 2, STSN shall be entitled to deduct from the Success Fee and any
and all fees payable to MCC the amount of any finder's fee payable in cash or
securities to any intermediaries in connection with a Financing Transaction.
Payment of the Success Fee shall not apply to consideration provided to or by
STSN to a third party in connection with a Material Transaction or a Qualified
Partnership (as defined below).

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              d. Expense Reimbursement for Capital Raising. STSN hereby agrees
to reimburse MCC for any and all expenses incurred in connection with this
Agreement, not to exceed three percent (3%) of the gross amount of any Financing
Transaction. Such reimbursements shall be paid by the end of each month if
submitted by the fifteenth day of such month.

         3. Compensation for Mergers & Acquisitions. During the term of this
Agreement or during the twelve-month period following the termination thereof,
with respect to an organization that engages STSN in a merger, acquisition, or a
purchase or sale of all or substantially all of the stock or assets of STSN or
such organization (excluding a Qualified Partnership), and only if such
organization was introduced to STSN by MCC's direct and substantial efforts
(hereafter such transaction is referred to as a "Material Transaction"), MCC
will be entitled to receive the following compensation, subject to any
prohibition or restriction on the payment of commissions as required by law:

              a. Cash. MCC shall be entitled to a five percent (5%) cash
commission from any cash consideration paid by STSN in connection with a
Material Transaction.

              b. Securities. MCC shall be entitled to five percent (5%) of any
and all securities issued by STSN in connection with a Material Transaction.

              c. Limitations. Notwithstanding subsections (a)-(b) in this
Section 3, STSN shall be entitled to deduct, from any amounts payable to MCC
pursuant hereto, the amount of any finder's fee payable in cash or securities to
any intermediaries in connection with a Material Transaction. Payment of the
Success Fee shall not apply to consideration provided to or by STSN to a third
party in connection with a Financing Transaction or a Qualified Partnership (as
defined herein).

         4. Compensation for Non-Merger, Non Acquisition Strategic Partnerships.
During the term of this Agreement or during the twelve-month period following
the termination thereof, with respect to an organization that engages STSN in a
joint venture or similar joint enterprise or undertaking (excluding a Material
Transaction), and only if such organization was introduced to STSN by MCC's
direct and substantial efforts (hereafter such engagement is referred to as a
"Qualified Partnership" and such organization is referred to as a "Qualified
Partner"), MCC will be entitled to receive the following compensation, subject
to any prohibition or restriction on the payment of commissions as required by
law:

              a. First, Second, and Third Years. Beginning the date hereof and
continuing until three (3) years therefrom, MCC shall be entitled to ten percent
(10%) of Net Revenues received by STSN resulting from such Qualified
Partnership.

              b. Fourth and Fifth Year. Beginning three (3) years from the date
hereof and continuing until five (5) years therefrom, MCC shall be entitled to
four percent (4%) of Net Revenues received by STSN resulting from such Qualified
Partnership.

              c. Sixth and Seventh Year. Beginning five (5) years from the date
hereof and continuing until seven (7) years therefrom, MCC shall be entitled to
two percent (2%) of Net Revenues received by STSN resulting from such Qualified
Partnership. No compensation shall be payable to MCC pursuant to this Section 4
after seven (7) years from the date hereof.

For purposes of this Section 4, "Net Revenues" shall mean cash consideration
received by STSN that is directly and substantially attributable to STSN's
relationship with a Qualified Partner, less: (i) internet access and computer

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related expenses, (ii) host computer and network equipment costs, (iii)
technology personnel, technical support, billing, and related costs associated
with operating the web site, (iv) costs associated with customer support and
website operations, (v) royalties paid to information and service providers,
(vi) royalties paid for licensed technologies, (vii) costs of merchandise sold,
(viii) sales returns and allowances, (ix) fees paid to content providers, (x)
fees paid to organizations in connection with online registration, and (xi) all
other items normally included in determining cost of goods sold of similar
enterprises under generally accepted accounting principles.

         4. Expenses, Generally. Except for reimbursement of expenses provided
in connection with capital raising as provided in Section 2(e) above, MCC will
be responsible for the payment of all expenses that MCC may incur in connection
with the performance of the services under this Agreement.

         5. Confidentiality. It is understood that during the course of this
engagement MCC will be furnishing proprietary and confidential advice and
information to STSN relating to strategic relationships, management consulting
and advisory, and capital formation from sources developed by MCC through its
relationships with such sources and that accordingly, any such information or
any other information relating to MCC's efforts on STSN's behalf with third
parties provided to STSN by MCC, is confidential. STSN agrees to treat as
confidential any such information or related or similar information provided by
MCC and STSN will not without MCC's prior written consent, disclose such to any
third party. MCC will treat as confidential and will not, without the prior
written consent of STSN, disclose to any third party any confidential
information provided to MCC by STSN. Notwithstanding the foregoing, the terms of
this Paragraph 6 shall not apply to any information which is or becomes
generally available to the public, is required by law to be disclosed, or is
obtained from any third party which is in possession of such information through
no fault of MCC and is not under any obligation, to MCC's knowledge, to treat
such information as confidential.

         6. No Obligation to Consummate Transaction. STSN is not obligated to
accept a Financing Transaction, Material Transaction, or a Qualified Partnership
hereunder. STSN may reject any such Financing Transaction, Material Transaction
or Qualified Partnership for any reason or for no reason. If the Company decides
to engage in a Financing Transaction, Material Transaction, or a Qualified
Partnership, the final terms of any such agreement will be the subject of
negotiation between STSN and such organization with which STSN may engage in its
discretion. Unless otherwise specified in writing and signed by a duly
authorized representative of STSN, MCC has no authority to negotiate such
transaction on behalf of STSN.

         7. Conflicting Obligations. MCC represents and warrants to STSN that
MCC does not have any pre-existing obligations that are inconsistent with this
Agreement or that might prevent or impair MCC's ability to perform the services
contemplated hereunder. MCC also agrees not to enter into any such conflicting
obligations during the term of this Agreement.

         8. Indemnification. MCC, on behalf of itself and its affiliates, hereby
jointly and severally agrees to indemnify STSN and the STSN, on behalf of itself
and its affiliates, hereby agrees to indemnify MCC and each of them from any and
all liabilities, losses, damages, costs, or expenses (including without
limitation court costs and reasonable fees of attorneys, accountants, and expert
witnesses) relating to any action or other proceeding instituted, maintained,
prosecuted by, or voluntarily aided by any party where such action or proceeding
is contrary to the provisions of this Agreement.

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         9. Termination. Either STSN or MCC may terminate this Agreement at
anytime for any reason (or for no reason) by giving written notice to the other
of such termination at least thirty (30) days in advance of the date of such
termination. Upon termination of this Agreement, all obligations of STSN and all
obligations of MCC shall cease, except that the provisions of the Agreement
contained in Sections 7 through 16 below shall continue in effect, as
appropriate. All liability of either party for any breach of this Agreement
shall also survive termination hereof. Upon any such termination, MCC and STSN
shall each promptly return to the other all information considered by the other
party as confidential or proprietary. Except as specifically set forth herein,
upon such termination, MCC shall be entitled to compensation earned prior to the
date of termination computed pro rata up to and including the date of
termination, but shall not be entitled to any further compensation or
reimbursement following such date.

         10. Independent Contractor Status. It is understood and agreed that
STSN engages MCC as an independent contractor, solely to provide the services
described herein. Nothing contained in this Agreement nor the performance of
services contemplated hereby, or otherwise, shall create a fiduciary duty on the
part of MCC to STSN, nor shall MCC have any duties, obligations or liability to
the security holders of STSN or any third party in connection with its
engagement hereunder.

         11. Licenses. MCC now possesses or shall obtain all required licenses
or permits of any governmental agency as may be necessary for MCC to perform the
services hereunder.

         12. Exclusions. This Agreement shall not apply to any financial or
strategic relationship with Promia Incorporated, the National Football League,
or any persons or contacts introduced to STSN by Anthony Moore, MCC, The Sunvest
Corporation, J.D. Holden Associates, or Daniel Holden prior to May 24, 2000.

         13. Notices. Any notice required hereunder to be given by either party
shall be in writing and shall be delivered personally or sent by certified or
registered mail, postage prepaid, or by private courier, with written
verification of delivery, or by facsimile transmission to the other party to the
address or telephone number set forth below or to such other address or
telephone number as either party may designate from time to time according to
this provision. A notice delivered personally shall be effective upon receipt. A
notice sent by facsimile transmission shall be effective twenty- four hours
after the dispatch thereof. A notice delivered by mail or by private courier
shall be effective on the third day after the day of mailing.

<TABLE>
<S>                                     <C>
to STSN at:                             to MCC at:

SportsNuts.com                          Moore, Clayton & Co.
10421 South 400 West, Suite 550         23852 Pacific Coast Highway, PMB 792
Salt Lake City, Utah 84095              Malibu, California 90265
Attention: Kenneth I. Denos             Attention: Anthony R. Moore
Telefax: (801) 816-2594                 Telefax: (310) 317-4872
</TABLE>

         14. Entire Agreement. This Agreement constitutes the entire
understanding between STSN and MCC with reference to the subject matter hereof
and supersedes any prior understandings and agreements related thereto, whether
written or oral. This Agreement may be executed in one or more counterparts,
which together shall constitute a binding agreement. A signed facsimile will
create and constitute an original, legally binding agreement on the party
sending the same.

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         15. Governing Law. This Agreement shall be governed by and construed in
accordance with the internal laws of the State of Utah, without any references
to conflicts of laws. Each of the parties hereto consents to the exclusive
jurisdiction of the courts of Salt Lake County, State of Utah for resolution of
any disputes arising hereunder.

         If the foregoing constitutes the agreement and understanding of STSN,
please confirm by signing and returning one copy of this Agreement to me,
whereupon this Agreement shall become binding between STSN and MCC as of the
date first above written.

                                        Very truly yours,

                                        /s/ Kenneth I. Denos
                                        Kenneth I. Denos, Executive Vice
President
                                        SportsNuts.com International, Inc.

Agreed to and accepted this 31st day
of May, 2000

/s/ Anthony Moore
Anthony Moore, Managing Director
Moore, Clayton & Co.

                                              44<PAGE>   1

                                                                     EXHIBIT 4.1

                             GENESIS WORLDWIDE INC.
                    12% JUNIOR SUBORDINATED NOTE, AS RESTATED

$11,947,541.00                                                     July 1, 2000

         Genesis Worldwide Inc. (the "Company"), an Ohio corporation, promises
to pay to Three Cities Research, Inc., as Stockholders Representative under a
Stock Purchase Agreement (the "Agreement") dated May 13, 1999 between the
Company and the stockholders of Precision Industrial Corporation (the "Holder"),
at the times and in the respective amounts described below, the total principal
sum of $11,947,541.00. The Company also promises to pay interest on the unpaid
principal amount of this Note at the rate which is 9% per annum until December
31, 2001, which increases to 12.5% on January 1, 2002 and continues at that rate
until March 31, 2002 and increases by 50 basis points on April 1, 2002 and each
July 1, October 1, January 1, and April 1 after that until April 1, 2004, on and
after which the rate of interest payable under this Note will be 17% per annum.
Interest will be based on a year of 365/366 days. The interest payment due and
payable under this Note on each of September 30, 2000, December 31, 2000 and
March 31, 2001 shall not be paid in cash, but in lieu thereof, an amount equal
to such cash payment shall be paid by increasing the principal amount of this
Note by such amount effective on the respective dates that such interest
payments are due and payable; and the principal amount of this Note as so
increased shall bear interest and be payable at the Maturity Date, all as
provided in this Note. To the extent any interest payment (other than a payment
under Paragraph 4 below) is at a rate in excess of 14% per annum, the amount
above 14% per annum will be paid with a note containing the same terms as this
Note, dated the date of the interest payment, in a principal amount equal to the
amount by which the interest payment exceeds what it would have been at 14% per
annum.

         1.   The entire unpaid principal balance of the sum evidenced by this
Note will be due and payable on December 31, 2007 (the "Maturity Date"). If,
however, at any time or times prior to the Maturity Date, the Company completes
a public offering for cash of equity securities or of debt securities which are
subordinated to some or all of the Company's Senior Indebtedness described in
Paragraph 8, other than upon exercise of options granted to directors of the
Company or officers of the Company or its subsidiaries under a stock option plan
for directors or employees, simultaneously with the sale of the securities which
are the subject of that public offering, the Company will make a prepayment of
the principal sum evidenced by this note which is equal to at least 80% of the
proceeds of the public offering, net of underwriting discounts and commissions,
or which is equal to the entire unpaid balance of that principal sum if that is
less, and the Company will pay all accrued but unpaid interest on the principal
sum which is being prepaid.

         2.   Interest will be payable on March 31, June 30, September 30 and
December 31 of each year (each an "Interest Payment Date"), with the first
interest payment to be made on the first of those dates after interest begins to
accrue.

                                     4.1 - 1

<PAGE>   2

         3.   Except as otherwise provided above with respect to the interest
payments due and payable on September 30, 2000, December 31, 2000, and March 31,
2001, each payment of principal or interest will be made to the Holder by
certified or bank cashier's check or wire transfer, at such address or to such
account as the Holder specifies to the Company in writing at least three
business days before the payment is to be made.

         4.   Any payment of principal or interest which is not made when it is
due will bear interest from the date it is due until it is paid at the rate
which is 200 basis points higher than the interest rate in effect on the day the
payment is due, or such lower rate as is the maximum rate permitted by law.

         5.   The Company may at any time prepay all or any portion of the
outstanding balance of the principal sum evidenced by this Note (provided that
each prepayment must be at least $100,000, or such lesser amount as is the
entire outstanding balance of principal immediately before the prepayment). Each
prepayment will be applied against the payments of principal required by this
Note in the reverse of the order in which they are to be made. Each prepayment
of principal will be accompanied by all accrued but unpaid interest on the
principal sum being prepaid.

         6.   Each of the following events will constitute an Event of Default:

                    (a) The Company fails to make any payment of principal on or
              before the day on which it is due; or

                    (b) The Company fails to make any payment of interest within
              ten days after the day on which is it due; or

                    (c) The Company defaults in any of its obligations under
              this Note other than obligations described in subparagraphs (a)
              and (b) and fails to cure that default within 30 days after a
              written demand from the Holder that the Company do so; or

                    (d) The Company or a significant subsidiary (as that term is
              defined in Securities and Exchange Commission Regulation S-X)
              commences a proceeding seeking relief as a debtor under the
              Bankruptcy Code or any state or foreign insolvency law; or

                    (e) An order is entered in a proceeding under the Bankruptcy
              Code or any state or foreign insolvency law declaring the Company
              or a significant subsidiary to be insolvent or appointing a
              receiver or similar official for substantially all the Company's
              or a significant subsidiary's properties, and that order is not
              dismissed within 90 days; or

                                     4.1 - 2

<PAGE>   3

                    (f) Because of an event of default with regard to Senior
               Indebtedness, a holder of Senior Indebtedness accelerates the
               time when the principal of the Senior Indebtedness is due and
               payable; or

                    (g) Because of events of default with regard to indebtedness
               which is not Senior Indebtedness, holders of indebtedness
               aggregating $500,000 which is not Senior Indebtedness accelerate
               the time when that indebtedness is due and payable.

         7. Upon the occurrence of an Event of Default, the Holder may, by a
notice to the Company given while the Event of Default is continuing, declare
the entire unpaid balance of the principal sum evidenced by this Note and the
accrued but unpaid interest to be due and payable, in which event that principal
balance and accrued but unpaid interest will be immediately due and payable,
except that if the Event of Default is of the type described in subparagraph (d)
or (e), the entire unpaid balance of the principal sum evidenced by this Note
and all accrued but unpaid interest will be immediately due and payable when the
Event of Default occurs, without requiring any notice or other action by the
Holder.

         8.   (a)  The Company's obligations to make payments of principal and
interest under this Note are subordinate and subject in right of payment to the
prior payment in full of all Senior Indebtedness. "Senior Indebtedness" means
all principal, premium, interest, and other sums due with regard to all
indebtedness for money borrowed (including the obligation to reimburse for
amounts drawn against letters of credit) from banks, insurance companies or
other financial institutions which the Company states, in the instrument
governing the indebtedness or a document delivered to the holder of the
indebtedness, to be Senior Indebtedness with regard to this Note, except that no
indebtedness (and no obligations with regard to the indebtedness) will be Senior
Indebtedness to the extent that incurrence of the indebtedness would cause the
entire Senior Indebtedness at the time the indebtedness is incurred to exceed
$100,000,000, plus, as to Senior Indebtedness which when it was incurred did not
cause the entire Senior Indebtedness to exceed that amount, additional advances
totaling not more than 10% of the maximum committed amount of that Senior
Indebtedness made by the lender to protect the Senior Indebtedness already held
by the lender. In furtherance and not in limitation of the foregoing, but
subject to the foregoing limitation on amount, "Senior Indebtedness" includes
all principal, interest and other obligations of the Company under a Credit
Agreement dated as of June 30, 1999 among the Company, the lenders party
thereto, and ING (U.S.) Capital LLC as administrative agent, as amended,
supplemented and otherwise modified from time to time.

              (b)  No payment of principal or interest on this Note will be
made (i) unless all amounts then due for principal, premium, if any, and
interest on Senior Indebtedness have been paid in cash or provided for, or (ii)
during the period (a "Blockage Period") between the time the Company is notified
by a holder of Senior Indebtedness that an event of default with respect to that
Senior Indebtedness exists which permits the holder of that Senior Indebtedness
to accelerate its maturity (a "Blockage Event") and the earlier of (x) the time
that event of default is cured or waived

                                     4.1 - 3

<PAGE>   4

or ceases to exist, and (y) 180 days after the holder of that Senior
Indebtedness became entitled to accelerate its maturity, unless the holder of
that Senior Indebtedness has accelerated its maturity.

              (c)  During a Blockage Period, the Holder of this Note shall not
ask for, sue for, take, demand or set off or in any other manner, direct or
indirect, attempt to enforce any right or collect any payment or distribution on
account of this Note, nor present this Note for payment.

              (d)  Upon any distribution of assets of the Company as a result
of any dissolution, winding up, liquidation or reorganization (whether in a
bankruptcy or insolvency proceeding or otherwise) (an "Insolvency Event"), (i)
all Senior Indebtedness must be paid in full in cash, or provision made for its
payment, before any payment is made on account of principal or interest on this
Note, (ii) any payment or distribution of assets of the Company to which the
Holder would be entitled except for this Paragraph must be paid or delivered by
the Company or by any trustee in bankruptcy, receiver, assignee for the benefit
of creditors or other liquidating agent, directly to the holders of the Senior
Indebtedness, pro rata to the amounts of Senior Indebtedness held by each of
them (or in accordance with any subordination agreements or other agreements
among them), to the extent necessary to pay all Senior Indebtedness in full
after giving effect to any concurrent payments or distributions to the holders
of the Senior Indebtedness or provision for payment or distribution to them, and
(iii) if, notwithstanding the foregoing, the Holder receives any payment or
distribution of property of the Company before all Senior Indebtedness is paid
in full, or provision made for its payment, the Holder will receive the cash or
property paid or distributed to the Holder in trust for the holders of the
Senior Indebtedness, and, upon a request made to the Holder by a holder of
Senior Indebtedness within one year after the cash or property is paid or
distributed to the Holder, the Holder will pay or deliver that cash or property
to the holders of the Senior Indebtedness, for application to the payment of any
Senior Indebtedness remaining unpaid after giving effect to any concurrent
payment or distribution to the holders of the Senior Indebtedness or provision
for payment or distribution to them. If no claim is made by holders of Senior
Indebtedness to cash or property paid or distributed to the Holder within one
year after the payment or distribution to the Holder, after the end of the one
year period, the Holder will hold the cash or property free of any trust.

              (e)  Following the occurrence and during the continuation of any
Insolvency Event:

                         i. the Holder of this Note shall take such action, duly
                    and promptly, as any holder of Senior Indebtedness may
                    request from time to time (A) to collect this Note for the
                    account of the holders of Senior indebtedness and (B) to
                    file appropriate proofs of claim in respect of this Note;

                         ii. the Holder of this Note irrevocably authorizes and
                    empowers each holder of Senior Indebtedness (A) to demand,
                    sue for, collect and

                                     4.1 - 4

<PAGE>   5

                    receive every payment or distribution on account of this
                    Note payable or deliverable in connection with such event or
                    proceeding and give acquittance therefor, and (B) to file
                    claims and proofs of claim in any statutory or non-statutory
                    proceeding and take such other actions, in its own name, or
                    in the name of the Holder of this Note or otherwise, as such
                    holders of Senior Indebtedness may deem necessary or
                    advisable for the enforcement of the provisions of this
                    Note; PROVIDED, HOWEVER, that the foregoing authorization
                    and empowerment imposes no obligation on the holders of
                    Senior Indebtedness to take any such action; and

                         iii. the Holder of this Note shall execute and deliver
                    such powers of attorney, assignments or proofs of claim or
                    other instruments as any holder of Senior Indebtedness may
                    reasonably request to enable such holder of Senior
                    Indebtedness to enforce any and all claims in respect of
                    this Note and to collect and receive any and all payments
                    and distributions which may be payable or deliverable at any
                    time upon or in respect of this Note; PROVIDED, that the
                    holders of Senior Indebtedness shall not exercise the rights
                    granted under this paragraph unless the Holder of this Note
                    has failed to take the necessary actions referenced above on
                    or prior to the date which is 15 days prior to the last date
                    on which such actions may be taken in accordance with
                    applicable law.

                  (f) The Holder of this Note consents that, without the
necessity of any reservation of rights against the Holder of this Note, and
without notice to or further assent by the Holder of this Note:

                         i. any demand for payment of any Senior Indebtedness
                    made by any holder of Senior Indebtedness may be rescinded
                    in whole or in part by such holder of Senior Indebtedness,
                    and any obligations under the Senior Indebtedness may be
                    continued, and the Senior Indebtedness, or the liability of
                    the Company or any guarantor or any other party upon or for
                    any part thereof, or any collateral security or guarantee
                    therefor or right of offset with respect thereto, or any
                    obligation or liability of the Company or any other party
                    under the Senior Indebtedness or any other agreement, may,
                    from time to time, in whole or in part, be renewed,
                    extended, modified, accelerated, compromised, waived,
                    surrendered, or released by any holder of Senior
                    Indebtedness; and

                         ii. the agreements relating to the Senior Indebtedness
                    may be amended, modified, supplemented or terminated, in
                    whole or in part, as any holder of Senior Indebtedness may
                    deem advisable from time to time, and any collateral
                    security at any time held by any holder of Senior
                    Indebtedness

                                     4.1 - 5
<PAGE>   6

                    for the payment of any of the Senior Indebtedness may be
                    sold, exchanged, waived, surrendered or released, in each
                    case all without notice to or further assent by the Holder
                    of this Note, which will remain bound under this Section 8,
                    and all without impairing, abridging, releasing or affecting
                    the subordination provided for herein.

                  (g) Subject to the payment in full of all Senior Indebtedness,
the Holder will be subrogated to the rights of the holders of Senior
Indebtedness to receive payments or distributions of property of the Company
made with regard to the Senior Indebtedness until the principal and interest
with regard to this Note is paid in full. For the purpose of that subrogation,
no payment or distribution to the holders of Senior Indebtedness, which, except
for the provisions of this Paragraph 8, would be payable or distributable to the
Holder, will, as between the Company, its creditors other than holders of Senior
Indebtedness, and the Holder, be deemed to be a payment by the Company with
regard to the Senior Indebtedness, it being understood that the provisions of
this Paragraph 8, other than subparagraph (c), are intended solely for the
purpose of defining the relative rights of the Holder, on the one hand, and the
holders of the Senior Indebtedness, on the other.

                  (h) Nothing in this Paragraph 8 is intended to impair, as
between the Company, its creditors other than the holders of Senior
Indebtedness, and the Holder, the obligation of the Company, which is absolute
and unconditional, to pay the principal and interest on this Note when they
become due. Nothing in this Paragraph 8 prevents the Holder from exercising all
remedies otherwise permitted by law upon default under this Note, subject to the
rights of holders of Senior Indebtedness under this Paragraph 8.

                  (i) Any person who becomes the Holder of this Note, or an
interest in it, will be deemed to have agreed by acquiring this Note, or the
interest in it, to be bound by the provisions of this Paragraph 8.

         9. No amendment of this Note, waiver of any provision of this Note, or
extension of the time by which the Company must make any payment of principal or
interest on this Note, will be effective unless it is made in writing by the
Holder. Any waiver or extension will be effective only in the instance and for
the purpose for which it is given.

         10. The remedies provided in this Note are cumulative and are not
exclusive of any other remedies provided by law. The Company will pay on demand
any expenses (including reasonable attorneys fees and expenses) incurred by the
Holder in enforcing its rights under this Note.

         11. Any notices or other communications required or permitted to be
given under this Note must be in writing and will be deemed given on the day
when delivered in person or sent by facsimile (with proof of receipt at the
number to which it is required to be sent), or on the third business day after
the day on which it is mailed by first class mail from within the United States
of America, addressed (i) if to the Company, to the Company's principal
executive offices and to the

                                     4.1 - 6
<PAGE>   7

                    principal facsimile number at those executive offices,
                    Attention: President, or at such other address or facsimile
                    number as the Company may specify to the Holder in writing,
                    and (ii) if to the Holder, at the address or facsimile
                    number specified by the Holder to the Company in writing.

         12. This Note will be binding upon Company and its assigns, and will
inure to the benefit of the Holder and the Holder's assigns. This Note will be
governed by, and construed under, the laws of the State of New York.

         IN WITNESS WHEREOF, the Company is executing this Note as of the date
shown on the first page.

                                   GENESIS WORLDWIDE INC.

                                   By:   /s/ Richard E. Clemens
                                      ------------------------------------------
                                         President and Chief Executive Officer

                                     4.1 - 7

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