Document:

<PAGE>   1
                                                                   Exhibit 10.51

                           OMNIBUS AMENDMENT AGREEMENT

         OMNIBUS AMENDMENT AGREEMENT, dated as of November 9, 2000 (this
"AMENDMENT") is made among QUESTRON TECHNOLOGY, INC. (the "PARENT"), QUESTRON
OPERATING COMPANY, INC. (the "COMPANY") and ALBION ALLIANCE MEZZANINE FUND,
L.P., ALLIANCE INVESTMENT OPPORTUNITIES FUND, LLC, THE EQUITABLE LIFE ASSURANCE
SOCIETY OF THE UNITED STATES, IBJ WHITEHALL BANK & TRUST COMPANY and IBJ
WHITEHALL CAPITAL CORPORATION (collectively, the "PURCHASERS").

         WHEREAS, pursuant to that certain Note Agreement, dated as of June 29,
1999 (the "EXISTING NOTE AGREEMENT;" and the Existing Note Agreement as modified
by this Amendment, the "NOTE AGREEMENT") among the Company and the Purchasers,
the Company issued to the Purchasers its 14.50% Senior Subordinated Notes due
June 30, 2005 (the "NOTES") in the aggregate principal amount of Twenty Million
Dollars ($20,000,000); and

         WHEREAS, the Parent and the Purchasers are parties to that certain
Investors' Rights Agreement, dated as of June 29, 1999 (the "EXISTING INVESTORS'
RIGHTS AGREEMENT;" and the Existing Investors' Rights Agreement as modified by
this Amendment, the "INVESTORS' RIGHTS AGREEMENT"); and

         WHEREAS, the Parent and the Company wish to enter into a Securities
Purchase Agreement (the "NEW SECURITIES PURCHASE AGREEMENT"), dated as of
November 9, 2000, with each of the Purchasers named therein (the "NEW
PURCHASERS"); and

         WHEREAS, pursuant to the New Securities Purchase Agreement, the Company
will issue and sell to the Purchasers Seventeen Million Five Hundred Thousand
Dollars ($17,500,000) in aggregate principal amount of its 14.50% Series B
Senior Subordinated Notes due June 30, 2005 (the "NEW SENIOR SUBORDINATED
NOTES") pursuant to that certain Note Agreement (the "NEW SUBORDINATED NOTE
Agreement"), dated as of November 9, 2000, among the Company and the New
Purchasers; and

         WHEREAS, each of the Affiliate Guarantors will enter into an
Unconditional Guaranty (the "NEW SUBORDINATED GUARANTY") of the obligations of
the Company under the New Subordinated Note Agreement and the New Senior
Subordinated Notes; and
<PAGE>   2

         WHEREAS, pursuant to the New Securities Purchase Agreement, the Parent
will issue 750,000 shares (the "NEW COMMON SHARES") of its common stock, par
value $.001 per share, to the Purchasers and, in connection therewith, will
enter into an Investors' Rights Agreement (the "NEW INVESTORS' RIGHTS
AGREEMENT;" the New Securities Purchase Agreement, the New Senior Subordinated
Notes, the New Subordinated Note Agreement, the New Affiliate Guaranty, the
certificates representing the New Common Shares, and the New Investors' Rights
Agreement being hereinafter referred to as the "NEW SUBORDINATED DEBT
DOCUMENTS"), dated as of November 9, 2000, among the Parent and the New
Purchasers; and

         WHEREAS, in connection with the transactions contemplated by the New
Subordinated Debt Documents, the Parent, the Company and the Purchasers wish to
effect the amendments contained herein to the Existing Note Agreement and the
Existing Investors Rights Agreement; and

         WHEREAS, the Purchasers are the holders of all the outstanding Notes;
and

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiently of which is hereby acknowledged, the parties hereto agree as
follows:

1.       DEFINED TERMS

         Capitalized terms used and not defined herein shall have the same
meanings given to them in the Note Agreement.

2.       AMENDMENTS TO EXISTING NOTE AGREEMENT.

         2.1 NEW SECTION 1.9

         A new Section 1.9 is hereby added to the Existing Note Agreement to
read in its entirety as follows:

         "1.9 PRO-RATA PAYMENTS.
                  The Company may not (i) redeem any of the Notes without also
         redeeming on a ratable basis the November 2000 Senior Subordinated
         Notes; or (ii) redeem any of the November 2000 Senior Subordinated
         Notes without also redeeming on a ratable basis the Notes.
         Notwithstanding the foregoing, the Company may effect a redemption
         pursuant to Section 1.3(c) of the November 2000 Note Agreement."

         2.2 AMENDMENT TO SECTION 4.6(A)(I).
<PAGE>   3

         Section 4.6(a)(i) of the Existing Note Agreement is hereby amended and
restated in its entirety to read as follows:

                  "(i) the Notes and the November 2000 Senior Subordinated
         Notes;"

         2.3 AMENDMENT TO SECTION 4.6(B)(I).

         Section 4.6(b)(i) of the Existing Note Agreement is hereby amended and
restated in its entirety to read as follows:

                  "(i) the Affiliate Guaranty, the November 2000 Affiliate
         Guaranty and other Guaranties solely in respect of the Notes, the
         November 2000 Senior Subordinated Notes or both;"

         2.4 AMENDMENT TO SECTION 6.1(K)(I).

         Section 6.1(k)(i) of the Existing Note Agreement is hereby amended and
restated in its entirety to read as follows:

                  "(i) Finance shall incur, create, assume or Guarantee, or
         otherwise be or become liable with respect to any Debt (other than
         Seller Notes, the Affiliate Guaranty, the November 2000 Affiliate
         Guaranty and other Guaranties of Senior Debt, the Notes or the November
         2000 Senior Subordinated Notes) or shall amend, modify, supplement,
         renew, extend or refinance any Seller Notes or any provision thereof
         without the consent of the Required Holders in any way which would
         result in such Notes not being Seller Notes; or"

         2.5 AMENDMENT TO SECTION 6.1(K)(IV)(C).

         Section 6.1(k)(iv)(C) of the Existing Note Agreement is hereby amended
and restated in its entirety to read as follows:

                  "(C) create, incur, assume or permit to exist any Debt or
         other obligations, or Guaranty (other than Debt existing on the date
         hereof and scheduled on Part 2.2(b) of Annex 3 of the November 2000
         Securities Purchase Agreement and other than pursuant to the Affiliate
         Guaranty, the November 2000 Affiliate Guaranty and other Guaranties of
         Senior Debt, the Notes or the November 2000 Senior Subordinated Notes),
         endorse, become surety for or otherwise be
<PAGE>   4

         responsible, directly or indirectly, for the obligations of any other
         Person other than pursuant to and in respect of any Right;"

         2.6 ADDITIONS TO SECTION 8.1.

         Section 8.1 of the Existing Note Agreement is hereby amended by adding
the following definition in their correct alphabetical order:

                  "NOVEMBER 2000 AFFILIATE GUARANTY - means the Unconditional
         Guaranty, dated as of November 9, 2000, of the Affiliate Guarantors, in
         the form of Exhibit 4.6(c) to the November 2000 Securities Purchase
         Agreement, as may be amended, restated or otherwise modified from time
         to time in accordance with the terms thereof, and together with any
         Joinder Agreements, in the form of Annex 2 thereto, executed by any
         Subsidiaries or Affiliates becoming parties thereto.

                  "NOVEMBER 2000 SECURITIES PURCHASE AGREEMENT - means the
         Securities Purchase Agreement, dated as of November 9, 2000, among the
         Company, the Parent and each of the purchasers named therein, relating
         to the offering and sale of the November 2000 Senior Subordinated Notes
         and 750,000 shares of common stock of Questron Technology, Inc., as
         each is amended from time to time.

                  "NOVEMBER 2000 SENIOR SUBORDINATED NOTES - means the Company's
         14.50% Series B Senior Subordinated Notes due June 30, 2005 issued
         pursuant to the November 2000 Securities Purchase Agreement."

                  SERIAL PUT AGREEMENT - means (i) the Serial Put Agreement,
         entered into as of September 22, 1997, among the Parent, Doug Zadow and
         Terry Bastian., and (ii) the Serial Put Agreement entered into as of
         January 27, 2000 among the Parent, Gregory R. Robinson, Beth Anne
         Robinson and Brian K. Robinson.

3. AMENDMENTS TO INVESTORS' RIGHTS AGREEMENT

         3.1 AMENDMENT TO SECTION 1.5(A).

         Section 1.5(a) of the Existing Investors' Rights Agreement is hereby
amended and restated in its entirety to read as follows:
<PAGE>   5

                  "(a) payment of the repurchase price at such time would result
         in a breach of, or default or event of default in respect of, the Note
         Agreement, the Notes, the November 2000 Note Agreement, the November
         2000 Senior Subordinated Notes or the Senior Credit Facility without
         the written consent of those holders of the Notes, those holders of the
         November 2000 Senior Subordinated Notes and those lenders under the
         Senior Credit Facility the consent of which would be necessary to waive
         such breach, default or event of default (and, unless each such
         required consent is given, the holders of the Purchaser Shares shall
         not accept or be permitted to retain such payment); or"

         3.2 AMENDMENT TO SECTION 2.6.

         The initial paragraph and clause (a) of Section 2.6 of the Existing
Investors' Rights Agreement are hereby amended and restated in their entirety to
read as follows:

                 "Notwithstanding anything contained in this Section 2 to the
         contrary, the Parent shall not be obligated to pay the repurchase price
         in respect of any Change of Control, to the extent that (but only to
         the extent that), at any time:

                           "(a) payment of the repurchase price at such time
                  would result in a breach of, or default or event of default in
                  respect of, the Note Agreement, the Notes, the November 2000
                  Note Agreement, the November 2000 Senior Subordinated Notes or
                  the Senior Credit Facility without the written consent of
                  those holders of the Notes, those holders of the November 2000
                  Senior Subordinated Notes and those lenders under the Senior
                  Credit Facility the consent of which would be necessary to
                  waive such breach, default or event of default (and, unless
                  each such required consent is given, the holders of the
                  Purchaser Shares shall not accept or be permitted to retain
                  such payment); or"

The remainder of Section 2.6 shall remain in effect without amendment.

         3.3 AMENDMENT TO SECTION 4.1.
<PAGE>   6

         The initial paragraph preceding clause (a) of Section 4.1 of the
Existing Investors' Rights Agreement is hereby amended and restated in its
entirety to read as follows:

                  "In the event that the Parent shall repurchase, redeem, retire
         or otherwise acquire shares of Common Stock or Rights from any
         Affiliate of the Parent (other than repurchases of shares of Common
         Stock pursuant to and in compliance with the this Agreement, the
         November 2000 Investors Agreement or the Serial Put Agreement) for a
         Consideration Per Share greater than the Closing Price in effect on the
         date prior to the date of such repurchase, redemption, retirement or
         acquisition, then the Parent shall issue and sell to each holder of
         Purchaser Shares an additional number of shares of Common Stock equal
         to the difference of:"

The remainder of Section 4.1 (commencing with clause (a) thereof) shall remain
in effect without amendment.

         3.4 AMENDMENT TO DEFINITION OF "EXCLUDED SECURITIES".

         Clause (b) of the definition of "Excluded Securities" contained in
Section 7.1 of the Existing Investors' Rights Agreement is hereby amended by
adding the following immediately following the semicolon at the end of such
clause:

         "and the seven hundred fifty thousand 750,000 shares of Common Stock
         issued pursuant to that certain Securities Purchase Agreement, dated as
         of November 9, 2000, among the Parent, the Company and the purchasers
         named therein;"

         3.5 AMENDMENT TO DEFINITION OF "SHELF TERMINATION DATE".

         The definition of "Shelf Termination Date" contained in Section 7.1 of
the Existing Investors' Rights Agreement is hereby amended and restated in its
entirety to read as follows:

                  "SHELF TERMINATION DATE - means, with respect to the Shelf
Registration, the earlier of:

                           "(a) the first date upon which no Registrable
                  Securities remain; and
<PAGE>   7

                           "(b) the first date after November 30, 2002 upon
                  which, for each holder of Purchaser Shares, together with all
                  related Persons of such holder, the sum of:

                                    "(i) the aggregate number of Registrable
                           Securities held by such holder and its Related
                           Persons; plus

                                    "(ii) the aggregate number of November 2000
                           Registrable Securities held by such holder and its
                           Related Persons;

                  "comprises less than ten percent (10%) of the aggregate number
                  of outstanding shares of Common Stock on such date.

                  "As used in clause (b) of this definition,

                           "Related Persons - means, with respect to any holder
                  of Securities, all affiliates of such holder, all Persons for
                  whom such holder acts as an investment Manager or investment
                  advisor and all Persons who acts as investment advisors or
                  investment managers to such holder; provided, however, that:

                                    "(A) Albion Alliance Mezzanine Fund, L.P.,
                           Alliance Investment Opportunities Fund LLC and Albion
                           Alliance Mezzanine Fund II, L.P., shall be considered
                           related Persons of each other; and

                                   "(B) IBJ Whitehall Bank & Trust Company and
                           IBJ Whitehall Capital Corporation shall be considered
                           related Persons of each other."

         3.6 ADDITIONS TO SECTION 7.1.

         Section 7.1 of the Existing Investors' Rights Agreement is hereby
amended by adding the following immediately following the end of the definition
of "Senior Credit Facility" and immediately preceding the definition of "Serial
Put Agreement:"

<PAGE>   8

                  "NOVEMBER 2000 INVESTORS AGREEMENT - means the Investors
         Rights Agreement, dated as of November 9, 2000, among the Parent and
         the purchasers named therein.

                  "NOVEMBER 2000 NOTE AGREEMENT - means the Note Agreement,
         dated as of November 9, 2000, among the Company and the purchasers
         named therein, pursuant to which the November 2000 Senior Subordinated
         Notes were issued.

                  "NOVEMBER 2000 REGISTRABLE SECURITIES - means "Registrable
         Securities," as such term is defined as in the November 2000 Investors
         Agreement.

                  "NOVEMBER 2000 SENIOR SUBORDINATED NOTES - means the 14.50%
         Series B Senior Subordinated Notes due June 30, 2005 issued pursuant to
         the November 2000 Note Agreement."

                  SERIAL PUT AGREEMENT - means (i) the Serial Put Agreement,
         entered into as of September 22, 1997, among the Parent, Doug Zadow and
         Terry Bastian., and (ii) the Serial Put Agreement entered into as of
         January 27, 2000 among the Parent, Gregory R. Robinson, Beth Anne
         Robinson and Brian K. Robinson.

4. NO OTHER MODIFICATIONS; CONFIRMATION .

         All the provisions of the Notes, and, except as expressly waived,
modified and supplemented hereby, all the provisions of the Existing Note
Agreement, are and shall remain in full force and effect. As of the Effective
Date (defined below), all references in the Financing Documents to the "Note
Agreement" shall be references to the Existing Note Agreement, as modified by
this Amendment and as hereafter amended, modified or supplemented in accordance
with its terms.

5. REPRESENTATIONS AND WARRANTIES.

         The Company represents and warrants as follows to each holder of Notes
as of the date hereof and as of the Effective Date (as defined below). The
Company acknowledges and agrees that the representations and warranties of this
Section 4 comprise representations and warranties in a written modification to
the Note Agreement, as contemplated by Section 6.1(c) of the Note Agreement.
<PAGE>   9

         5.1 NO OTHER DEFAULTS.

         No Default or Event of Default is continuing.

         5.2 SENIOR CREDIT AGREEMENT.

         The Senior Credit Agreement (as amended as described in Section 6.4) is
the only Senior Credit Facility in existence as of the date hereof. No default
or event of default has occurred or is continuing in respect of the Senior
Credit Agreement.

         5.3 OBLIGATIONS REMAIN ENFORCEABLE.

         The execution, delivery and performance by the Company of this
Amendment have been duly authorized by all necessary corporate and other action
and do not and will not require any registration with, consent or approval of,
notice to or action by, any person (including any Governmental Authority) in
order to be effective and enforceable. The Note Agreement (as modified by this
Amendment) and the Notes constitute the legal, valid and binding obligation of
the Company, enforceable against Company in accordance with its terms, except
that the enforceability thereof may be limited by applicable bankruptcy,
reorganization, arrangement, insolvency, moratorium, or other similar laws
affecting the enforceability of creditors' rights generally; and subject to the
availability of equitable remedies.

         5.4 SECURITIES PURCHASE AGREEMENT REPRESENTATIONS.

         All representations and warranties of the Company contained in the
Securities Purchase Agreement (other than representations or warranties
expressly made only on and as of the Closing Date or any earlier date) are true
and correct as of the date hereof, after taking into account Section 2 above.

         5.5 FINANCIAL INFORMATION.

         All financial statements delivered to the Purchasers by the Company
pursuant to the provisions of Section 5.1(a), Section 5.1(b) and Section 5.1(c)
of the Note Agreement since the Closing Date were, and all information delivered
to the Purchasers by the Company pursuant to Section 5.1(e) of the Note
Agreement since the Closing Date was, true, complete and correct in all material
respects as of the respective dates of such information.
<PAGE>   10

6. EFFECTIVENESS

         This Amendment shall become effective only upon the date of the
satisfaction in full of the following conditions precedent (which date shall be
the "EFFECTIVE DATE").

         6.1 EXECUTION AND DELIVERY OF THIS AMENDMENT.

         Each Purchaser shall have received a counterpart hereof, duly executed
and delivered by the Company and each other Purchaser.

         6.2 ACKNOWLEDGEMENT BY AFFILIATE GUARANTORS.

         Each Affiliate Guarantor shall have duly executed and delivered the
form of acknowledgement attached to this Amendment acknowledging its obligations
in respect of the Affiliate Guaranty.

         6.3 CLOSING OF TRANSACTIONS CONTEMPLATED BY NEW SECURITIES PURCHASE
AGREEMENT.

         The transactions contemplated by the New Securities Purchase Agreement
shall have been consummated contemporaneously herewith.

         6.4 SENIOR CREDIT AGREEMENT.

         The Company and each of its Affiliates and Subsidiaries as are parties
to the Senior Credit Facility shall have entered into an amendment to the Senior
Credit Agreement in the form attached hereto as Exhibit 6.4.

         6.5 REPRESENTATIONS AND WARRANTIES.

         The representations and warranties of the Company made in Section 4 of
this Amendment shall remain true and correct in all respects as of the Effective
Date.

         6.6 NO INJUNCTION, ETC.

         No injunction, writ, restraining order or other order of any nature
prohibiting, directly or indirectly, the consummation of the transactions
contemplated herein shall have been issued and remain in force by any
Governmental Authority.
<PAGE>   11

         6.7 EXPENSES.

         The Company shall have paid all out-of-pocket expenses of the
Purchasers in connection with the execution and delivery of this Amendment,
including, without limitation, the fees and disbursements of Bingham Dana LLP,
as special counsel to the Required Holders.

7. MISCELLANEOUS

         7.1 SECTION HEADINGS . The titles of the Sections of this Amendment
appear as a matter of convenience only, do not constitute a part hereof and
shall not affect the construction hereof. The words "herein," "hereof,"
"hereunder" and "hereto" refer to this Amendment as a whole and not to any
particular Section or other subdivision. References to Sections are, unless
otherwise specified, references to Sections of this Amendment.

         7.2 GOVERNING LAW.

         THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK.

         7.3 SUCCESSORS AND ASSIGNS.

         This Amendment shall inure to the benefit of and be binding upon the
successors and assigns of each of the parties hereto. The provisions hereof are
intended to be for the benefit of all holders, from time to time, of Notes, and
shall be enforceable by any such holder whether or not an express assignment to
such holder of rights hereunder shall have been made by any Purchaser or its
successor or assign.

         7.4 EXECUTION IN COUNTERPART.

         This Amendment may be executed in one or more counterparts and shall be
effective when at least one counterpart shall have been executed by each party
hereto, and each set of counterparts that, collectively, show execution by each
party hereto shall constitute one duplicate original.
<PAGE>   12

         7.5 RELIANCE BY PURCHASERS.

         The Purchasers hereby acknowledge that the purchasers named in the New
Securities Purchase Agreement are making the financial accommodations described
therein in reliance upon this Agreement.

                      [The remainder of this page has been left blank
intentionally. The next page is the signature page.]

<PAGE>   13

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by their respective proper and duly authorized
officers as of the day and year first above written.

                            QUESTRON TECHNOLOGY, INC.
                            QUESTRON OPERATING COMPANY, INC.

                            By:________________________________
                            Name:
                            Title:

                            ALBION ALLIANCE MEZZANINE FUND, L.P.
                            By: Albion Alliance LLC, its General Partner

                            By:_____________________________________
                                  Name:
                                  Title

                            ALLIANCE INVESTMENT OPPORTUNITIES FUND, LLC
                            By: Alliance Investment Opportunities Management
                                L.P., its Managing Member
                            By: Alliance Capital Management, L.P., its Managing
                                Member
                            By: Alliance Capital Management Corporation, its
                                General Partner

                            By:_____________________________________
                                Name:
                                Title
<PAGE>   14

                            THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED
                            STATES

                            By:_____________________________________
                                  Name:
                                  Title

                            IBJ WHITEHALL BANK & TRUST COMPANY

                            By:_____________________________________
                                  Name:
                                  Title

<PAGE>   15

                       ACKNOWLEDGEMENT AND CONFIRMATION OF
                              AFFILIATE GUARANTORS

         Each of the undersigned, being a party to that Unconditional Guaranty
(the "GUARANTY"), dated as of June 29, 1999, re: $20,000,000 14.50% Senior
Subordinated Notes due June 30, 2005 (the "NOTES") issued by Questron Operating
Company, Inc. (the "Company") acknowledges that:

                  (a) it has received and read the attached Amendment to Note
         Agreement;

                  (b) that it will benefit materially and substantially from the
         agreements and forbearances made by the Purchasers in the attached
         Amendment to Note Agreement; and

                  (c) that its guaranty of the Guarantied Obligations (as
         defined in the Guaranty) and all of its other obligations pursuant to
         the Guaranty shall remain in full force and effect notwithstanding the
         execution and delivery by the Company and the Purchasers of the
         attached Amendment to Note Agreement and the performance by the Company
         and the Purchasers of their respective obligations pursuant to the
         Notes and the Note Agreement (as defined in the attached Amendment to
         Note Agreement).

         [The remainder of this page has been left blank intentionally. The next
page is the signature page.]

<PAGE>   16

         IN WITNESS WHEREOF, each of the undersigned parties hereto have caused
this Acknowledgement and Confirmation of Affiliate Guarantors to be duly
executed and delivered by their respective proper and duly authorized officers
as of the day and year first above written.

                                 QUESTRON TECHNOLOGY, INC.
                                 QUESTRON FINANCE CORP.
                                 QUESTRON DISTRIBUTION LOGISTICS, INC.
                                 COMP WARE, INC.
                                 POWER COMPONENTS, INC.
                                 INTEGRATED MATERIAL SYSTEMS, INC.
                                 CALIFORNIA FASTENERS, INC.
                                 FAS-TRONICS, INC.
                                 FORTUNE INDUSTRIES, INC.
                                 CAPITAL FASTENERS, INC.
                                 ACTION THREADED PRODUCTS, INC.
                                 ACTION THREADED PRODUCTS OF
                                    GEORGIA, INC.
                                 ACTION THREADED PRODUCTS OF
                                    MINNESOTA, INC.
                                 R.D.S. SALES CO., INC
                                 B&G SUPPLY COMPANY, INC.

                                 By_________________________________
                                 Name:
                                 Title:

<PAGE>   17

                                   EXHIBIT 6.4
                      AMENDMENT TO SENIOR CREDIT AGREEMENT<PAGE>   1
                                                                   Exhibit 10.52

                            AMENDMENT NUMBER FIVE TO
                AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

                  THIS AMENDMENT NUMBER FIVE TO AMENDED AND RESTATED LOAN AND
SECURITY AGREEMENT (this "Amendment") dated as of November 9, 2000, is entered
into among QUESTRON TECHNOLOGY, INC., a Delaware corporation ("QTI"), certain of
the direct and indirect Subsidiaries of QTI identified herein (individually and
collectively, and jointly and severally, the "Obligors"), each of the Lenders
signatory hereto, CONGRESS FINANCIAL CORPORATION (Florida), a Florida
corporation, as administrative agent for the Lenders ("Administrative Agent"),
and ABLECO FINANCE LLC, a Delaware limited liability company, as collateral
agent for the Lender Group ("Collateral Agent"), in light of the following:

                               W I T N E S S E T H
                               - - - - - - - - - -

                  WHEREAS, the Obligors, the Lenders, Administrative Agent, and
Collateral Agent are parties to that certain Amended and Restated Loan and
Security Agreement, dated as of June 29, 1999 (as amended, restated,
supplemented, or modified from time to time, the "Loan Agreement");

                  WHEREAS, the Obligors have requested that that the Lender
Group consent to the incurrence of additional Subordinated Debt; and

                  WHEREAS, the parties desire to amend the Loan Agreement to,
among other things, permit the incurrence of such additional Subordinated Debt,
in each case, as set forth herein.

                  NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which hereby are acknowledged, the parties agree to
amend the Loan Agreement as follows:

1. DEFINITIONS. Capitalized terms used herein and not otherwise defined herein
shall have the meanings ascribed to them in the Loan Agreement, as amended
hereby.

2. AMENDMENT TO LOAN AGREEMENT.

         (a) Section 8.2.22 of the Loan Agreement hereby is amended by inserting
the phrase "and the Subordinated Obligations" immediately prior to the text
"(b)" appearing in said Section.

         (b) Section 8.3.3 of the Loan Agreement hereby is amended and restated
as follows:

         8.3.3 Senior Debt Coverage Ratio. Maintain a Senior Debt Coverage Ratio
not greater than (i) 3.50:1.00 with respect to each fiscal quarter ending on or
after September
<PAGE>   2

30, 2000 through and including the fiscal quarter ending December 31, 2000, (ii)
3.25:1.00 with respect to each fiscal quarter ending on or after March 31, 2001
through and including the fiscal quarter ending September 30, 2001, and (iii)
3.00:1.00 with respect to each fiscal quarter ending on or after December 31,
2001.

         (c) Section 8.3.5 of the Loan Agreement hereby is amended and restated
as follows:

         8.3.5 [Intentionally Omitted]

         (d) Appendix A of the Loan Agreement hereby is amended by adding or
amending and restating, as applicable, the following defined terms in the proper
alphanumerical order:

                  Fifth Amendment - that certain Amendment Number Five to
Amended and Restated Loan and Security Agreement, dated as of November __, 2000,
among the Obligors, the Lenders, Administrative Agent, and Collateral Agent.

                  Fifth Amendment Effective Date - the date on which the
conditions precedent set forth in Section 5 of the Fifth Amendment are
satisfied.

                  Investors Agreement - means, collectively, the June 1999
Investors Rights Agreement and the November 2000 Investors Rights Agreement.

                  June 1999 Investors Rights Agreement - means that certain
Investors Rights Agreement, dated as of the Closing Date, among QTI and the
Purchasers identified therein.

                  June 1999 Subordinated Debt Documents - means, collectively,
(i) each of the several substantially identical Securities Purchase Agreements,
each dated as of the Closing Date, among QTI, QOC, and each of the Purchasers
identified therein, (ii) Note Agreement, dated as of the Closing Date, among QOC
and the Purchasers identified therein, (iii) the June 1999 Investors Rights
Agreement, (iv) each of the 14.50% Senior Subordinated Notes of QOC issued under
the Note Agreement referenced in clause (ii) above, and (v) the Subsidiary
Guarantee, dated as of the Closing Date, by each of QOC and its Subsidiaries in
favor of the Purchasers therein defined, and all documents and instruments to be
executed or delivered in connection therewith; in each case, as amended by the
Omnibus Amendment Agreement (the "June 1999 Subordinated Debt Amendment"), dated
as of the Fifth Amendment Date, among QTI, QOC, and the Purchasers identified
therein.

                  November 2000 Investors Rights Agreement - means that certain
Investors Rights Agreement, dated as of the Fifth Amendment Effective Date,
among QTI and the Purchasers identified therein.

                  November 2000 Subordinated Debt Documents - means,
collectively, that certain (i) Securities Purchase Agreement, dated as of the
Fifth Amendment Effective Date, among QTI, QOC, and each of the Purchasers
identified therein, (ii) Note Agreement, dated as of the Fifth Amendment
Effective Date, among QOC and the Purchasers identified

                                       2
<PAGE>   3

therein, (iii) the November 2000 Investors Rights Agreement, (iv) each of the
14.50% Series B Senior Subordinated Notes of QOC issued under the Note Agreement
referenced in clause (ii) above, and (v) the Subsidiary Guarantee, dated as of
the Fifth Amendment Effective Date, by each of QOC and its Subsidiaries in favor
of the Purchasers therein defined, and all documents and instruments to be
executed or delivered in connection therewith.

                  Subordinated Debt Documents - means, collectively, the June
1999 Subordinated Debt Documents and the November 2000 Subordinated Debt
Documents.

                  Subordinated Obligations - Subordinated Debt of QOC in favor
of the Purchasers under the Subordinated Debt Documents in effect on the Fifth
Amendment Effective Date and as amended in compliance with the Loan Documents
(including without limitation, any repurchase or put obligations in respect of
"Purchaser Shares" (as such term is defined in the Investors Rights Agreement)
under the Investors Rights Agreement).

3. CONSENT. Administrative Agent, Collateral Agent, and the Required Lenders
hereby consent to the incurrence by QOC of the Subordinated Debt evidenced by
the November 2000 Subordinated Debt Documents.

4. REPRESENTATIONS AND WARRANTIES. The Obligors hereby represent and warrant to
the Lender Group that:

         (a) The execution, delivery, and performance of this Amendment are
within its corporate powers, have been duly authorized by all necessary
corporate action, and are not in contravention of any law, rule, regulation, or
any order, judgment, decree, writ, injunction, or award of any arbitrator,
court, or governmental authority, or of the terms of its governing documents, or
of any contract or undertaking to which it is a party or by which any of its
properties may be bound or affected if the result thereof is reasonably likely
to result in a Material Adverse Change;

         (b) This Amendment constitute the Obligors' legal, valid, and binding
obligations, enforceable against the Obligors in accordance with its terms;

         (c) There is no litigation or proceeding pending or threatened against
or affecting the Obligors, their business, operations, or properties that
reasonably could be expected to have a Material Adverse Change;

         (d) No written information, certification, or report submitted to the
Lender Group by the Obligors pursuant to this Amendment contains any material
misstatement of fact or omits to state a material fact or any fact necessary to
make the information not false or misleading in any material respect;

         (e) The reaffirmation and consent of QTI attached hereto as Exhibit A
constitutes QTI's legal, valid, and binding obligations, enforceable against QTI
in accordance with its terms;

                                       3
<PAGE>   4

         (f) The reaffirmation and consent of QTI attached hereto as Exhibit A
has been duly executed and delivered by QTI;

         (g) The reaffirmation and consent of QFC attached hereto as Exhibit B
constitutes QFC's legal, valid, and binding obligations, enforceable against QFC
in accordance with its terms; and

         (h) The reaffirmation and consent of QFC attached hereto as Exhibit B
has been duly executed and delivered by QFC.

5. CONDITIONS PRECEDENT TO AMENDMENT. The satisfaction of each of the following
unless waived or deferred by Administrative Agent, Collateral Agent, and the
Required Lenders in their sole discretion, shall constitute conditions precedent
to the effectiveness of this Amendment and each and every provision hereof:

         (a) The Obligors shall have executed and delivered the November 2000
Subordinated Debt Documents. Collateral Agent shall have received copies of each
of the material November 2000 Subordinated Debt Documents, each of which shall
be in form and substance satisfactory to Administrative Agent and Collateral
Agent and shall be accompanied by a certificate of the Secretary of QTI, dated
as of the Fifth Amendment Effective Date, certifying each such document as being
a true, correct, and complete copy thereof.

         (b) Administrative Agent shall have received from the Obligors the net
cash proceeds from the consummation of the transactions contemplated by the
November 2000 Subordinated Debt Documents.

         (c) The representations and warranties in the Loan Agreement as amended
by this Amendment, and the other Loan Documents shall be true and correct in all
respects on and as of the date hereof, as though made on such date (except to
the extent that such representations and warranties relate solely to an earlier
date).

         (d) No injunction, writ, restraining order, or other order of any
nature prohibiting, directly or indirectly, the consummation of the transactions
contemplated herein shall have been issued and remain in force by any
governmental authority against the Obligors or the Lender Group.

         (e) No Default or Event of Default shall have occurred and be
continuing on the date hereof, nor shall result from the consummation of the
transactions contemplated herein.

         (f) Collateral Agent shall have received the reaffirmation and consent
of QTI attached hereto as Exhibit A, duly executed and delivered by an
authorized official of QTI.

         (g) Collateral Agent shall have received the reaffirmation and consent
of QFC attached hereto as Exhibit B, duly executed and delivered by an
authorized official of QFC.

                                       4
<PAGE>   5

         (h) Collateral Agent shall have received (i) a copy of the June 1999
Subordinated Debt Amendment, in form and substance satisfactory to Collateral
Agent, duly executed by the Obligors and the Purchasers identified therein, in
connection with the June 1999 Subordinated Debt Documents and relative to the
incurrence by QOC of the Subordinated Debt evidenced by the November 2000
Subordinated Debt Documents, and (ii) all other documents as may be required by
Collateral Agent in connection with the transactions contemplated by this
Amendment, in each case, duly executed and delivered by the parties thereto.

6. CONSTRUCTION. This Amendment shall be governed by and construed in accordance
with the laws of the State of New York without giving effect to its
conflicts-of-laws principles (other than any provisions thereof validating the
choice of the laws of the State of New York as the governing law).

7. ENTIRE AMENDMENT. This Amendment, and terms and provisions hereof, constitute
the entire agreement among the parties pertaining to the subject matter hereof
and supersedes any and all prior or contemporaneous amendments relating to the
subject matter hereof. Except as expressly amended hereby, the Loan Agreement
and other Loan Documents shall remain unchanged and in full force and effect. To
the extent any terms or provisions of this Amendment conflict with those of the
Loan Agreement or other Loan Documents, the terms and provisions of this
Amendment shall control. This Amendment is a Loan Document.

8. COUNTERPARTS; TELEFACSIMILE EXECUTION. This Amendment may be executed in any
number of counterparts, all of which taken together shall constitute one and the
same instrument and any of the parties hereto may execute this Amendment by
signing any such counterpart. Delivery of an executed counterpart of this
Amendment by telefacsimile shall be equally as effective as delivery of an
original executed counterpart of this Amendment. Any party delivering an
executed counterpart of this Amendment by telefacsimile also shall deliver an
original executed counterpart of this Amendment, but the failure to deliver an
original executed counterpart shall not affect the validity, enforceability, and
binding effect of this Amendment.

9. AMENDMENTS. This Amendment cannot be altered, amended, changed or modified in
any respect or particular unless each such alteration, amendment, change or
modification shall have been agreed to by each of the parties and reduced to
writing in its entirety and signed and delivered by each party.

10. MISCELLANEOUS.

         (a) Upon the effectiveness of this Amendment, each reference in the
Loan Agreement to "this Agreement", "hereunder", "herein", "hereof" or words of
like import referring to the Loan Agreement shall mean and refer to the Loan
Agreement as amended by this Amendment.

                                       5
<PAGE>   6

         (b) Upon the effectiveness of this Amendment, each reference in the
Loan Documents to the "Loan Agreement", "thereunder", "therein", "thereof" or
words of like import referring to the Loan Agreement shall mean and refer to the
Loan Agreement as amended by this Amendment.

                            [Signature page follows.]

                                       6
<PAGE>   7

                  IN WITNESS WHEREOF, the parties have caused this Amendment to
be executed and delivered as of the date first written above.

                                            QUESTRON TECHNOLOGY, INC.,
                                            a Delaware corporation
                                            QUESTRON DISTRIBUTION LOGISTICS,
                                            INC., a Delaware corporation
                                            INTEGRATED MATERIAL SYSTEMS,
                                            INC., an Arizona corporation
                                            POWER COMPONENTS, INC.,
                                            a Pennsylvania corporation
                                            CALIFORNIA FASTENERS, INC.,
                                            a California corporation
                                            COMP WARE, INC., a Delaware
                                            corporation
                                            FAS-TRONICS, INC., a Texas
                                            corporation
                                            FORTUNE INDUSTRIES, INC.,
                                            a Texas corporation
                                            QUESTRON OPERATING COMPANY, INC.,
                                            a Delaware corporation
                                            QUESTRON FINANCE CORP.,
                                            a Delaware corporation
                                            ACTION THREADED PRODUCTS, INC.,
                                            an Illinois corporation
                                            ACTION THREADED PRODUCTS OF
                                            GEORGIA, INC., a Georgia corporation
                                            ACTION THREADED PRODUCTS OF
                                            MINNESOTA, INC., a Minnesota
                                            corporation
                                            CAPITAL FASTENERS, INC., a
                                            North Carolina corporation
                                            B&G SUPPLY COMPANY, INC., a
                                            Texas corporation
                                            R.S.D. SALES CO., INC., a
                                            New York corporation

                                            By
                                               ------------------------------
                                            Name
                                                 ----------------------------
                                            Title Responsible Officer for each
                                                    of the above-listed Obligors

                           [signature pages continue]

                                      S-1
<PAGE>   8

                                            ABLECO FINANCE LLC, a Delaware
                                            limited liability  company,  as
                                            Collateral Agent and a Lender

                                            By:
                                                 -----------------------------
                                            Title:
                                                     -------------------------

                                            A2 FUNDING LP, as a Lender

                                            By: A2 FUND MANAGEMENT LLC,
                                                its General Partner

                                            By:
                                                ------------------------------
                                            Title:
                                                    --------------------------

                           [signature pages continue]

                                      S-2
<PAGE>   9

                                            CONGRESS FINANCIAL CORPORATION
                                            (FLORIDA), a Florida corporation,
                                            as Administrative Agent and a Lender

                                            By:
                                                 ----------------------------
                                            Title:
                                                    -------------------------

                           [signature pages continue]

                                      S-3
<PAGE>   10

                                            KZH ING-2 LLC, a Delaware limited
                                            liability company, as a Lender

                                            By:
                                                 -----------------------------
                                            Title:
                                                    --------------------------

                                            KZH ING-3 LLC, a Delaware limited
                                            liability  company,  as a Lender

                                            By:
                                                 -----------------------------
                                            Title:
                                                    --------------------------

                                            THE ING CAPITAL SENIOR SECURED HIGH
                                            INCOME FUND, L.P., as a Lender

                                            By:  ING Capital Advisors, LLC,
                                                 as Investment Advisor

                                                 By__________________________
                                                 Its Authorized Signatory

                           [signature pages continue]

                                      S-4
<PAGE>   11

                                       MASSACHUSETTS MUTUAL LIFE INSURANCE
                                       COMPANY, as a Lender

                                       By: David L. Babson & Company,
                                           Incorporated, as Investment Adviser

                                           By:
                                                -------------------------------
                                           Its:

                                       SIMSBURY CLO LIMITED, as a Lender

                                       By: David L. Babson & Company,
                                           Incorporated under delegated
                                           authority from Massachusetts Mutual
                                           Life Insurance Company, as Collateral
                                           Manager

                                          By:
                                              --------------------------------
                                          Title:

                                      S-5
<PAGE>   12

                                    EXHIBIT A

                            REAFFIRMATION AND CONSENT

         All capitalized terms used herein but not otherwise defined herein
shall have the meanings ascribed to them in that certain Amendment Number Five
to Amended and Restated Loan and Security Agreement, dated as of November __,
2000 (the "Amendment"). The undersigned hereby (a) represents and warrants to
the Lender Group that the execution, delivery, and performance of this
Reaffirmation and Consent are within its corporate powers, have been duly
authorized by all necessary corporate action, and are not in contravention of
any law, rule, or regulation, or any order, judgment, decree, writ, injunction,
or award of any arbitrator, court, or governmental authority, or of the terms of
its charter or bylaws, or of any material contract or undertaking to which it is
a party or by which any of its properties may be bound or affected; (b) consents
to the amendment of the Loan Agreement by the Amendment; (c) acknowledges and
reaffirms its obligations owing to the Lender Group under the QTI Guaranty and
any other Loan Documents to which it is a party; and (d) agrees that each of the
QTI Guaranty and any other Loan Documents to which it is a party is and shall
remain in full force and effect in accordance with the terms thereof. Although
the undersigned has been informed of the matters set forth herein and has
acknowledged and agreed to same, it understands that the Lender Group has no
obligations to inform it of such matters in the future or to seek its
acknowledgement or agreement to future amendments, and nothing herein shall
create such a duty. Delivery of an executed counterpart of this Reaffirmation
and Consent by telefacsimile shall be equally as effective as delivery of an
original executed counterpart of this Reaffirmation and Consent. Any party
delivering an executed counterpart of this Reaffirmation and Consent by
telefacsimile also shall deliver an original executed counterpart of this
Reaffirmation and Consent but the failure to deliver an original executed
counterpart shall not affect the validity, enforceability, and binding effect of
this Reaffirmation and Consent. This Reaffirmation and Consent shall be governed
by the laws of the State of New York, as more fully set forth in Section 20 of
the QTI Guaranty.

                                                     QUESTRON TECHNOLOGY, INC.,
                                                     a Delaware corporation

                                                     By:________________________
                                                     Title:

                                      A - 1
<PAGE>   13

                                    EXHIBIT B

                            REAFFIRMATION AND CONSENT

         All capitalized terms used herein but not otherwise defined herein
shall have the meanings ascribed to them in that certain Amendment Number Five
to Amended and Restated Loan and Security Agreement, dated as of November __,
2000 (the "Amendment"). The undersigned hereby (a) represents and warrants to
the Lender Group that the execution, delivery, and performance of this
Reaffirmation and Consent are within its corporate powers, have been duly
authorized by all necessary corporate action, and are not in contravention of
any law, rule, or regulation, or any order, judgment, decree, writ, injunction,
or award of any arbitrator, court, or governmental authority, or of the terms of
its charter or bylaws, or of any material contract or undertaking to which it is
a party or by which any of its properties may be bound or affected; (b) consents
to the amendment of the Loan Agreement by the Amendment; (c) acknowledges and
reaffirms its obligations owing to the Lender Group under the QFC Guaranty and
any other Loan Documents to which it is a party; and (d) agrees that each of the
QFC Guaranty and any other Loan Documents to which it is a party is and shall
remain in full force and effect in accordance with the terms thereof. Although
the undersigned has been informed of the matters set forth herein and has
acknowledged and agreed to same, it understands that the Lender Group has no
obligations to inform it of such matters in the future or to seek its
acknowledgement or agreement to future amendments, and nothing herein shall
create such a duty. Delivery of an executed counterpart of this Reaffirmation
and Consent by telefacsimile shall be equally as effective as delivery of an
original executed counterpart of this Reaffirmation and Consent. Any party
delivering an executed counterpart of this Reaffirmation and Consent by
telefacsimile also shall deliver an original executed counterpart of this
Reaffirmation and Consent but the failure to deliver an original executed
counterpart shall not affect the validity, enforceability, and binding effect of
this Reaffirmation and Consent. This Reaffirmation and Consent shall be governed
by the laws of the State of New York, as more fully set forth in Section 20 of
the QFC Guaranty.

                                                     QUESTRON FINANCE CORP.,
                                                     a Delaware corporation

                                                     By:________________________
                                                     Title:

                                      A-1

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