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                                                                   EXHIBIT 10.18

                          SECURITIES PURCHASE AGREEMENT

         THIS SECURITIES PURCHASE AGREEMENT is made and entered into as of July
20, 2001, by and between USV Partners, L.L.C., a Delaware limited liability
company ("Buyer"), and each party listed as a Seller on Schedule 1 hereto (each
a "Seller" and together "Sellers").

                                    RECITALS

         Sellers own the shares of the issued and outstanding Series F Preferred
Stock (the "Shares") of U.S. Technologies, Inc., a Delaware corporation (the
"Company"), as indicated on Schedule 1 hereto (together, the "Securities").
Buyer desires to purchase from Sellers, and Sellers desire to sell to Buyer the
Securities.

                                   AGREEMENTS

         In consideration of the premises and of the agreements set forth
herein, and intending to be legally bound, the parties agree as follows:

SECTION 1. PURCHASE AND SALE

         1.1      Purchase and Sale of Securities. In consideration of the
Purchase Price described below in Section 1.2, each Seller hereby agrees to
sell, assign, convey and deliver all of the Securities owned by such Seller
(together with and subject to any and all agreements associated therewith,
including under or entered into as of the closing of the Agreement and Plan of
Merger Among U.S. Technologies Inc., U.S. Technologies Acquisition Co. and
Yazam.com, Inc., as amended March 22, 2001 (the "Merger Agreement"), to Buyer,
free and clear of any claim, security interest, mortgage, pledge, lien or other
encumbrance of any nature whatsoever (except the aforementioned agreements), and
Buyer hereby agrees to purchase the Securities from the Sellers.

         1.2      Purchase Price. The purchase price (the "Purchase Price")
payable to a Seller for all of its Securities shall be $150.00 multiplied by the
number of Shares it owns, as set forth on Schedule 1.

         1.3      Closing. Closing for the purchase and sale of the Securities
shall occur at 1:00 p.m. Eastern time on August 3, 2001, at the offices of
Fleischman and Walsh, LLP, counsel for Buyer, or such other time or place as
agreed to by the parties ("the Closing").

SECTION 2. DELIVERIES BY SELLERS AND BUYER

         2.1      Deliveries by Seller. At Closing, each Seller shall deliver to
Buyer (a) stock certificate(s) representing its Shares duly endorsed by such
Seller (or accompanied by stock powers).

         2.2      Deliveries by Buyer. At the Closing, Buyer shall deliver to
each Seller the Purchase Price for such Seller's Securities by wire transfer of
immediately available funds to a bank account indicated by such Seller by 1:00
p.m. on the business day before Closing.

                                                                   Exhibit 10.18
                                                                          Page 1
<PAGE>   2

SECTION 3. REPRESENTATIONS AND WARRANTIES OF BUYER

         Buyer hereby represents and warrants to each Seller as follows:

         3.1      Incorporation and Authority of Buyer. Buyer is a limited
liability company duly formed, validly existing and in good standing under the
laws of the State of Delaware and has all necessary power and authority to enter
into this Agreement, to carry out its obligations hereunder and to consummate
the transactions contemplated hereby. Execution of this Agreement has been
authorized by all necessary limited liability company action in accordance with
the organizational documents of the Buyer and applicable law.

         3.2      Enforceability of Agreement. This Agreement has been duly
executed and delivered by Buyer and such execution and delivery, and the
performance by Buyer of this Agreement and all transactions contemplated hereby,
have been duly and validly authorized by any necessary action on the part of
Buyer. This Agreement constitutes the legal, valid and binding obligation of
Buyer, enforceable against Buyer in accordance with its terms.

         3.3      No Conflict. The execution, delivery and performance of this
Agreement by Buyer do not:

                  (a)      violate or conflict with any term or provision of the
organizational documents of Buyer;

                  (b)      conflict with or violate any law, rule, regulation,
order, writ, judgment, injunction, decree, or other judicial or regulatory
determination or award applicable to Buyer;

                  (c)      result in any breach of, or constitute a default (or
event which with the giving of notice or lapse of time, or both, would become a
default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, or result in the creation of any lien, security
interest, charge or other encumbrance on any of the assets or properties of
Buyer pursuant to, any note, bond, mortgage, indenture, contract, agreement,
lease, license, permit or other instrument relating to such assets or properties
to which Buyer is a party or by which any of such assets or properties is bound
or affected; or

                  (d)      require Buyer to make or obtain any consent, order,
approval, authorization or other action by, or filing with or notification to,
any federal, state or local governmental or regulatory authority or any other
person or entity.

SECTION 4. REPRESENTATIONS AND WARRANTIES OF SELLER

         Each Seller, severally, hereby represents and warrants to Buyer as
follows:

                  4.1      Organization and Authority. Seller is an entity duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its formation, and has all necessary power and authority to
enter into this Agreement, to carry out its obligations hereunder and to
consummate the transactions contemplated hereby.

                  4.2      Enforceability of Agreement. This Agreement has been
duly executed and delivered by Seller and such execution and delivery, and the
performance by Seller of this Agreement and all

                                                                   Exhibit 10.18
                                                                          Page 2

<PAGE>   3

transactions contemplated hereby, have been duly and validly authorized by any
necessary action on the part of Seller. This Agreement constitutes the legal,
valid and binding obligation of Seller, enforceable against Seller in accordance
with its terms.

         4.3      The Securities. Seller owns, legally and beneficially, and has
good title to all of the Securities, free and clear of any claim, security
interest, mortgage, pledge, lien or other encumbrance of any nature whatsoever
other than as described in Section 1.1.

         4.4      No conflict. The execution, delivery and performance of this
Agreement by Seller do not:

                  (a)      violate or conflict with any term or provision of the
articles of incorporation or bylaws of Seller;

                  (b)      conflict with or violate any law, rule, regulation,
order, writ, judgment, injunction, decree, or other judicial or regulatory
determination or award applicable to Seller;

                  (c)      require Seller to make or obtain any consent, order,
approval, authorization or other action by, or filing with or notification to,
any federal, state or local governmental or regulatory authority or any other
person or entity; or

                  (d)      result in any breach of, or constitute a default (or
event which with the giving of notice or lapse of time, or both, would become a
default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, or result in the creation of any lien, security
interest, charge or other encumbrance on any of the assets or properties of
Seller pursuant to, any note, bond, mortgage, indenture, contract, agreement,
lease, license, permit or other instrument relating to such assets or properties
to which Seller is a party or by which any of such assets or properties is bound
or affected.

SECTION 5. GENERAL PROVISIONS

         5.1      Further Action. Each of the parties hereto shall execute and
deliver such documents and other papers and take such further actions as may be
reasonably required, or as may be reasonably requested by any other party, to
carry out the provisions hereof and give effect to the transactions contemplated
hereby.

         5.2      Headings. The headings used in this Agreement are for
reference purposes only and shall not affect the meaning or interpretation of
any term or provision of this Agreement.

         5.3      Severability. If any term or other provision of this Agreement
is invalid, illegal or incapable of being enforced by any rule of law or public
policy, all other conditions and provisions of this Agreement shall nevertheless
remain in full force and effect so long as the economic or legal substance of
the transactions contemplated hereby is not affected in any manner adverse to
any party.

         5.4      Entire Agreement.

                  (a)      This Agreement represents the entire understanding of
                           the parties with reference to the matters set forth
                           herein. This Agreement supersedes all prior
                           negotiations, discussions, correspondence,
                           communications and prior agreements among the parties
                           relating to the subject matter herein.

                                                                   Exhibit 10.18
                                                                          Page 3

<PAGE>   4

                  (b)      The parties acknowledge that Section 6.13 of the
                           Merger Agreement shall remain in effect as set forth
                           therein.

         5.5      Amendment and Waiver. This Agreement may not be amended or
modified except by an instrument in writing signed by the parties hereto
affected thereby. This Agreement may not be waived except by an instrument in
writing signed by the party granting such waiver.

         5.6      Assignment. The provisions of this Agreement shall be binding
upon and inure to the benefit of the parties and their respective successors and
permitted assigns. Notwithstanding the preceding sentence, neither this
Agreement nor any right, remedy, obligation or liability arising hereunder or by
reason hereof shall be assignable by any party without the prior written consent
of the other party.

         5.7      Governing Law. This Agreement shall be governed by, and
construed in accordance with, the laws of the State of Delaware without regard
to its laws pertaining to conflicts of law.

         5.8      Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be an original, but all of which taken
together shall constitute one and the same agreement.

              THIS REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK

                                                                   Exhibit 10.18
                                                                          Page 4

<PAGE>   5

         IN WITNESS WHEREOF, the parties hereto have caused their duly
authorized representatives to execute this Stock Purchase Agreement as of the
date first above written.

USV PARTNERS, L.L.C., as Buyer

By: USV Management, L.L.C.

    By: /s/ Gregory Earls
        ---------------------------------
        Gregory Earls, Managing Member

TPG PARTNERS III, L.P., as a Seller        T3 DUTCH PARALLEL, C.V., as a Seller

By:  /s/ Richard A. Ekleberry              By:  /s/ Richard A. Ekleberry
   --------------------------------------      ---------------------------------
Name: Richard A. Ekleberry                 Name: Richard A. Ekleberry
Title: Vice President                      Title: Vice President

TPG PARALLEL III, L.P., as a Seller        T3 PARTNERS, L.P., as a Seller

By:  /s/ Richard A. Ekleberry              By:  /s/ Richard A. Ekleberry
   --------------------------------------     ----------------------------------
Name: Richard A. Ekleberry                 Name: Richard A. Ekleberry
Title: Vice President                      Title: Vice President

TPG DUTCH PARALLEL III, C.V., as a Seller  T3 PARALLEL, L.P., as a Seller

By:  /s/ Richard A. Ekleberry              By:  /s/ Richard A. Ekleberry
   --------------------------------------      ---------------------------------
Name: Richard A. Ekleberry                 Name: Richard A. Ekleberry
Title: Vice President                      Title: Vice President

TPG INVESTOR III, L.P., as a Seller        FOF PARTNERS III, L.P., as a Seller

By:  /s/ Richard A. Ekleberry              By:  /s/ Richard A. Ekleberry
   --------------------------------------      ---------------------------------
Name: Richard A. Ekleberry                 Name: Richard A. Ekleberry
Title: Vice President                      Title: Vice President

T3 INVESTORS, L.P., as a Seller            FOF PARTNERS III-B, L.P., as a Seller

By:  /s/ Richard A. Ekleberry              By:  /s/ Richard A. Ekleberry
   --------------------------------------      ---------------------------------
Name: Richard A. Ekleberry                 Name: Richard A. Ekleberry
Title: Vice President                      Title: Vice President

                                                                   Exhibit 10.18
                                                                          Page 5

<PAGE>   6

                                   SCHEDULE 1

<TABLE>
<CAPTION>
       Name of Seller                 Series F Shares           PURCHASE PRICE
       --------------                 ---------------           --------------
<S>                                   <C>                       <C>
TPG Partners III, L.P.                    5,608.18               $  841,227.00
TPG Parallel III, L.P.                      728.61               $  109,291.50
TPG Dutch Parallel III, C.V                 146.66               $   21,999.00
TPG Investor III, L.P.                      338.14               $   50,721.00
T3 Partners, L.P.                         2,599.83               $  389,974.50
T3 Parallel, L.P.                           196.38               $   29,457.00
T3 Dutch Parallel, C.V                      151.07               $   22,660.50
T3 Investors, L.P.                          145.58               $   21,837.00
FOF Partners III, L.P.                        8.84               $    1,326.00
FOF Partners III-B, L.P.                    196.48               $   29,472.00
                                                                 -------------
                                                                 $1,517,965.50
                                                                 =============
</TABLE>

                                                                   Exhibit 10.18
                                                                          Page 6<PAGE>   1

                                                                   EXHIBIT 10.19

                        WAIVER AND REPLACEMENT AGREEMENT

                                  July 20, 2001

U.S. Technologies Inc.
1130 Connecticut Avenue, N.W.
Suite 700
Washington, DC 20036
Attn: Gregory Earls, Chairman
      and Chief Executive Officer

Dear Sir:

         Reference is made to: (i) the Agreement and Plan of Merger, dated as of
February 28, 2001, among U.S. Technologies Inc. ("USXX"), U.S. Technologies
Acquisition Co. and Yazam.com Inc., as amended March 22, 2001 (the "Merger
Agreement"), (ii) the Certificate of Designations, Preferences and Rights of
Series F Convertible Preferred Stock of USXX ("Series F Preferred Stock"), filed
with the Secretary of State of Delaware on March 27, 2001 (the "Certificate of
Designations") and (iii) the Securities Purchase Agreement between the TPG
Entities, as Sellers, and USV Partners L.L.C., as Buyer, of even date herewith
(the "Securities Purchase Agreement") with respect to 10,119.77 shares of USXX
Series F Preferred Stock (the "Shares").

         The undersigned, with respect to the Shares, hereby irrevocably waives
the following: (i) its rights contained in the fourth sentence of Section 5.06
of the Merger Agreement and (ii) its rights contained in Section 5 (Redemption)
of the Certificate of Designations.

         By its execution below, USXX hereby agrees that beginning on September
30, 2002, and for a period of ninety (90) days thereafter, the undersigned shall
have the right to require USXX to redeem the undersigned's shares of Series F
Preferred Stock at a purchase price of $300.00 per share (as adjusted for any
combinations, consolidations, stock distributions or stock dividends or similar
events with respect to such shares); provided, however, that USXX shall not be
obligated to effect such a redemption unless certificates evidencing such shares
of Series F Preferred Stock being redeemed are either delivered to USXX or its
transfer agent or the holder notifies USXX or its transfer agent that such
certificates have been lost, stolen or destroyed and executes an agreement
satisfactory to USXX to indemnify USXX from any loss incurred by it in
connection therewith.

         In the event that all of the holders of Series F Preferred Stock enter
into waiver and replacement agreements with USXX on terms identical to those
contained herein (other than the provision contained in the preceding
paragraph), then USXX, if requested by the undersigned, shall use its best
efforts to amend its Certificate of Designations in a manner consistent with the
terms of this Waiver and Replacement Agreement (such amendment not to include
the provision contained in the preceding paragraph).

                                                                   Exhibit 10.19
                                                                          Page 1
<PAGE>   2

         The construction and performance of this Waiver and Replacement
Agreement shall be governed by the laws of the State of Delaware without regard
to its principles of conflict of laws, and the state and federal courts of
Delaware shall have exclusive jurisdiction over any controversy or claim arising
out of or relating to this Waiver and Replacement Agreement.

         The terms and conditions of this letter shall inure to the benefit of
and be binding upon the respective successors and assigns of USXX and the
undersigned.

         This Waiver and Replacement Agreement may be executed in one or more
counterparts, each of which shall be an original and both of which, when taken
together, shall constitute one and the same instrument.

                                   Sincerely,

                                   USV PARTNERS, L.L.C.

                                   By:  USV Management, L.L.C.

                                   By:  /s/ Gregory Earls
                                      ------------------------------------------
                                   Gregory Earls, Managing Member

AGREED TO AND ACKNOWLEDGED BY:

U.S. TECHNOLOGIES INC.

By: /s/ Allyson Holland
   ---------------------------------------
   Allyson Holland, Vice President
   Controller and Chief Accounting Officer

                                                                   Exhibit 10.19
                                                                          Page 2

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