Document:

<PAGE>

                                                                    EXHIBIT 10.1

                                LOAN AGREEMENT

FIRST UNION NATIONAL BANK
300 MAIN STREET
STAMFORD, CONNECTICUT 06904
(Hereinafter referred to as the "Bank")

GREENWICH TECHNOLOGY PARTNERS, INC.
ATTN LYNNE KRAUSS
43 GATEHOUSE ROAD
STAMFORD, CONNECTICUT 06902
(Individually and collectively, "Borrower")

This Loan Agreement ("Agreement") is entered into this 30th day of July, 1999,
by and between Bank and GREENWICH TECHNOLOGY PARTNERS, INC., a corporation
organized under the laws of the State of Delaware.

Borrower has applied to Bank for a loan or loans (individually and collectively,
the "Loan") evidenced by one or more promissory notes (whether one or more, the
"Note") as follows:

     .    Revolver without termout - in the principal amount of $2,500,000.00
          which is evidenced by the Promissory Note dated July 30, 1999. The
          Loan proceeds are to be used by Borrower solely to finance working
          capital.

This Agreement applies to the loan and all Loan Documents. The terms "Loan
Documents" and "Obligations," as used in this Agreement, are defined in the
Note. The term "Borrower" shall include its Subsidiaries and Affiliates. As used
in this Agreement as to Borrower, "Subsidiary" shall mean any corporation of
which more than 50% of the issued and outstanding voting stock is owned directly
or indirectly by Borrower. As to Borrower, "Affiliate" shall have the meaning as
defined in 11 U.S.C. (S)101, except that the term "debtor" therein shall be
substituted by the term "Borrower" herein.

Relying upon the covenants, agreements, representations and warranties contained
in this Agreement, Bank is willing to extend credit to Borrower upon the terms
and subject to the conditions set forth herein, and Bank and Borrower agree as
follows:

REPRESENTATIONS. Borrower represents that from the date of this Agreement and
until final payment in full of the Obligations: Accurate Information. All
information now and hereafter furnished to Bank is and will be true, correct and
complete. Any such information relating to Borrower's financial condition will
accurately reflect Borrower's financial condition as of the date(s) thereof,
(including all contingent liabilities of every type, and Borrower further
represents that its financial condition has not changed materially or adversely
since the date(s) of such documents. Authorization; Non-Contravention. The
execution, delivery and performance by Borrower and any guarantor, as
applicable, of this Agreement and other Loan Documents to
<PAGE>

                                      -2-

which it is a party are within its power, have been duly authorized by all
necessary action taken by the duly authorized officers of Borrower and any
guarantors and if necessary, by making appropriate filings with any governmental
agency or unit and are the legal, binding, valid and enforceable obligations of
Borrower and any guarantors; and do not (i) contravene, or constitute (with or
without the giving of notice or lapse of time or both) a violation of any
provision of applicable law, a violation of the organizational documents of
Borrower or any guarantor, or a default under any agreement, judgment,
injunction, order, decree or other instrument binding upon or affecting Borrower
or any guarantor, (ii) result in the creation or imposition of any lien (other
than the lien(s) created by the Loan Documents) on any of Borrower's or
guarantor's assets, or (iii) give cause for the acceleration of any obligations
of Borrower or any guarantor to any other creditor. Asset Ownership. Borrower
has good and marketable title to all of the properties and assets reflected on
the balance sheets and financial statements supplied Bank by Borrower, and all
such properties and assets are free and clear of mortgages, security deeds,
pledges, liens, charges, and all other encumbrances, except as otherwise
disclosed to Bank by Borrower in writing ("Permitted Liens"). To Borrower's
knowledge, no default has occurred under any Permitted Liens and no claims or
interests adverse to Borrower's present rights in its properties and assets have
arisen. Discharge of Liens and Taxes. Borrower has duly filed, paid and/or
discharged all taxes or other claims which may become a lien on any of its
property or assets, except to the extent that such items are being appropriately
contested in good faith and an adequate reserve for the payment thereof is being
maintained. Sufficiency of Capital. Borrower is not, and after consummation of
this Agreement and after giving effect to all indebtedness incurred and liens
created by Borrower in connection with the Loan, will not be insolvent within
the meaning of 11 U.S.C. (S)101(32). Compliance with Laws. Borrower is in
compliance in all material respects with all federal, state and local laws,
rules and regulations applicable to its properties, operations, business, and
finances, including, without limitation, any federal or state laws relating to
liquor (including 18 U.S.C. (S)3617 et seq.) or narcotics (including 21 U.S.C.
                                    -- ---
(S)801 et seq.) and/or any commercial crimes, all applicable federal, state and
       -- ---
local laws and regulations intended to protect the environment; and the Employee
Retirement Income Security Act of 1974, as amended ("ERISA"), if applicable.
Organization and Authority. Each corporate or limited liability company Borrower
and any guarantor, as applicable, is duly created, validly existing and in good
standing under the laws of the state of its organization, and has all powers,
governmental licenses, authorizations, consents and approvals required to
operate its business as now conducted. Each corporate or limited liability
company Borrower and any guarantor, if any, is duly qualified, licensed and in
good standing in each jurisdiction where qualification or licensing is required
by the nature of its business or the character and location of its property,
business or customers, and in which the failure to so qualify or be licensed, as
the case may be, in the aggregate, could have a material adverse effect on the
business, financial position, results of operations, properties or prospects of
Borrower or any such guarantor. No Litigation. There are no pending or
threatened suits, claims or demands against Borrower or any guarantor that have
not been disclosed to Bank by Borrower in writing. ERISA. Each employee pension
benefit plan, as defined in ERISA, maintained by Borrower meets, as of the date
hereof, the minimum funding standards of ERISA and all applicable regulations
thereto and requirements thereof, and of the Internal Revenue Code of 1954, as
amended. No "Prohibited Transaction" or "Reportable Event" (as both terms are
defined by ERISA) has occurred with respect to any such plan.
<PAGE>

                                      -3-

AFFIRMATIVE COVENANTS. Borrower agrees that from the date of this Agreement and
until final payment in full of the Obligations, unless Bank shall otherwise
consent in writing: Business Continuity. Borrower shall conduct its business in
substantially the same manner and locations as such business is now and has
previously been conducted. Maintain Properties. Borrower shall maintain,
preserve and keep its property in good repair, working order and condition,
making all needed replacements, additions and improvements thereto, to the
extent allowed by this Agreement. Access to Books & Records. Borrower shall
allow Bank, or its agents, during normal business hours, access to the books,
records and such other documents of Borrower as Bank shall reasonably require,
and allow Bank to make copies thereof at Bank's expense. Insurance. Borrower
shall maintain adequate insurance coverage with respect to its properties and
business against loss or damage of the kinds and in the amounts customarily
insured against by companies of established reputation engaged in the same or
similar businesses including, without limitation, commercial general liability
insurance, workmen's compensation insurance, and business interruption
insurance, and upon all Collateral (as defined in the Loan Documents) securing
the Obligations, such insurance as specified in the Loan Documents; all acquired
in such amounts and from such companies as Bank may reasonably require. Notice
of Default and Other Notices. (a) Notice of Default. Borrower shall furnish to
Bank immediately upon becoming aware of the existence of any condition or event
which constitutes a Default (as defined in the Loan Documents) or any event
which, upon the giving of notice or lapse of time or both, may become a Default,
written notice specifying the nature and period of existence thereof and the
action which Borrower is taking or proposes to take with respect thereto. (b)
Other Notices. Borrower shall promptly notify Bank in writing of (i) any
material adverse change in its financial condition or its business; (ii) any
material default under any material agreement, contract or other instrument to
which it is a party or by which any of its properties are bound, or any
acceleration of the maturity of any indebtedness owed by Borrower; (iii) any
material adverse claim against or affecting Borrower; or any part of its
properties; (iv) the commencement of, and any material determination in, any
material litigation with any third party or any material proceeding before any
governmental agency or unit affecting Borrower; and (v) at least thirty (30)
days prior thereto, any change in Borrower's name or address as shown above,
and/or any change in Borrower's structure. Compliance with Other Agreements.
Borrower shall comply with all terms and conditions contained in this Agreement,
and any other Loan Documents, and swap agreements, if applicable, as defined in
the Note. Payments of Debts. Borrower shall pay and discharge when due, and
before subject to penalty or further charge, and otherwise satisfy before
maturity or delinquency, all obligations, debts, taxes, and liabilities of
whatever nature or amount, except those which Borrower in good faith disputes.
Other Financial Information. Borrower shall deliver promptly such other
information regarding the operation, business affairs, and financial condition
of Borrower which Bank may reasonably request. Estoppel Certificate. Borrower,
within fifteen (15) days after request by Bank, will furnish a written statement
duly acknowledged of the amount due under the Loan and whether offsets or
defenses exist against the Obligations. Deposit Relationship. Borrower will
maintain its primary depository accounts with First Union. Cash Management
Relationship. Borrower will maintain its cash management accounts with First
Union.

NEGATIVE COVENANTS.  Borrower agrees that from the date of this Agreement and
until final payment in full of the Obligations, unless Bank shall otherwise
consent in writing:
<PAGE>

                                      -4-

Government Intervention. Borrower shall not permit the assertion or making of
any seizure, vesting or intervention by or under authority of any government by
which the management of Borrower or any guarantor is displaced of its authority
in the conduct of its respective business or such business is curtailed or
materially impaired. Prepayment of Other Debt. Borrower shall not retire any
long-term debt entered into prior to the date of this Agreement at a date in
advance of its legal obligation to do so without the express written consent of
Bank. Retire or Repurchase Capital Stock. Borrower shall not retire or otherwise
acquire any of its capital stock, except for repurchases from terminated or
former employees. Default on Other Contracts or Obligations. Borrower shall not
default on any material contract with or obligations when due to a third party
or default in the performance of any obligation to a third party incurred for
money borrowed. Judgment Entered. Borrower shall not permit the entry of any
monetary judgment or the assessment against, the filing of any tax lien against,
or the issuance of any writ of garnishment or attachment against any property of
or debts due Borrower. Change In Fiscal Year. Change its fiscal year without the
consent of Bank. Change of Control. Joseph P. Beninati, FGII Partners and
employees of Greenwich Technology Partners, Inc. shall collectively maintain at
all times no less than 51% of the ownership interest in Borrower. Guarantees.
Guarantee or otherwise become responsible for obligations of any other person or
persons other than the endorsement of checks and drafts for collection in the
ordinary course of business. Encumbrances. Create, assume, or permit to exist
any mortgage, security deed, deed of trust, pledge, lien, charge or other
encumbrance on any of its assets, whether now owned or hereafter acquired, other
than: (i) security interests required by the Loan Documents; (ii) liens for
taxes contested in good faith; or (iii) liens accruing by law for employee
benefits; and (iv) Permitted Liens.

FINANCIAL COVENANTS. Borrower agrees to the following provisions from the date
hereof until final payment in full of the Obligations, unless Bank shall
otherwise consent in writing: EBIT to Interest Ratio. Borrower shall maintain an
EBIT to Interest Ratio of not less than 1.50 to 1.00. "EBIT to Interest Ratio"
shall mean the sum of earnings before interest and taxes divided by interest
expense. This covenant shall be tested on a quarterly basis with the first test
occurring March 31, 2000. Quick Ratio. Borrower shall maintain a Quick Ratio of
not less than 2.00 to 1.00. "Quick Ratio" shall mean the ratio of the sum of
cash plus cash equivalents plus marketable securities plus trade receivables
(minus any bad debt reserves), whether or not evidenced by a promissory note,
plus the current portion of any debt due to Borrower from Borrower's officers,
employees, stockholders, affiliates or subsidiaries, to Current Liabilities.
"Current Liabilities" shall mean all liabilities which are so classified in
accordance with generally accepted accounting principles. This covenant shall be
tested on a quarterly basis with the first test occurring September 30, 1999,
Positive Earnings. Commencing with Borrower's first fiscal quarter ending March
31, 2000 and for each fiscal quarter thereafter, Borrower's earnings before
interest, taxes, depreciation and amortization ("EBITDA") shall be positive.
This covenant shall be tested on a quarterly basis with the first test occurring
March 31, 2000. Limitation on Debt. Borrower shall not, directly or indirectly,
create, incur, assume or become liable for any additional indebtedness, whether
contingent or direct, which totals more than $25,000.00 in the aggregate at any
time, without the express written consent of Bank. Loans and Advances. Borrower
shall not, during any fiscal year, make loans or advances, except in the
ordinary course of business, to
<PAGE>

                                      -5-

any person or entity. Dividends. Borrower shall not, during any fiscal year,
declare or pay dividends or make other distributions to shareholders.

FINANCIAL REPORTS.  Borrower agrees to the following provision(s) from the date
of this Agreement and until final payment in full of the Obligations, unless
Bank shall otherwise consent in writing: Annual Financial Statements.  Borrower
shall deliver to Bank, within 120 days after the close of its fiscal year, draft
audited financial statement and within 150 days after the close of each fiscal
year, audited financial statements reflecting its operations during such fiscal
year, including, without limitation, a balance sheet, profit and loss statement
and statement of cash flows, with supporting schedules; all in reasonable
detail, prepared in conformity with generally accepted accounting principles,
applied on a basis consistent with that of the preceding year.  All such
statements shall be examined by an independent certified public accountant
acceptable to Bank.  The opinion of such independent certified public accountant
shall not be acceptable to Bank if qualified due to any limitations in scope
imposed by Borrower.  Any other qualification of the opinion by the accountant
shall render the acceptability of the financial statements subject to Bank's
approval.  Periodic Financial Statements.  Borrower shall deliver to Bank
unaudited management-prepared quarterly financial statements, including, without
limitation, a balance sheet, profit and loss statement, and statement of cash
flows, with supporting schedules, as soon as available and in any event within
45 days after the close of each such period; all in reasonable detail.  Such
statements shall be certified as to their correctness by a principal financial
officer of Borrower.  Accounts Payable Aging.  Borrower shall, from time to time
hereafter deliver to Bank monthly within 15 days of the end of each such period,
a detailed aging of payables by total, a summary aging of payables by vendor and
vendor address, and a reconciliation statement.  Said aging should also include
the original date of each invoice.  Accounts Receivable Aging.  Borrower shall,
from time to time hereafter deliver to Bank monthly within 15 days of the end of
each such period, a detailed aging of accounts by total, a summary aging of
accounts by customer and customer address, and a reconciliation statement.  Said
aging should also include the original date of each invoice.  Compliance
Certificate.  Borrower shall furnish to Bank, together with each set of
financial statements described above, compliance certificates signed by the
company's chief financial officer, certifying that (i) none of the covenants in
the loan documents have been breached and (ii) no event has occurred which would
constitute an Event of Default under the loan documents.

BORROWING BASE.  "Borrowing Base" means 100% of Assigned Accounts plus 75% of
the net amount of Eligible Accounts, less the amount of any Reserves required by
Bank.

"Assigned Accounts" means time savings accounts and certificates of deposit
maintained in or with Bank and affiliates of Bank.

"Eligible Account" means an account receivable not more than 90 days from the
date of the original invoice that arises in the ordinary course of Borrower's
business and meets the following eligibility requirements:  (a) the sale of
goods or services reflected in such account is final and such goods and services
have been delivered or provided and accepted by the account debtor and payment
for such is owing; (b) the invoices comprising an account are not subject to any
claims, returns or disputes of any kind; (c) the account debtor is not
insolvent; (d) the account debtor has
<PAGE>

                                      -6-

its principal place of business in the United States; (e) the account debtor is
not an Affiliate of Borrower and is not a supplier to Borrower and the account
is not otherwise exposed to risk of set-off; (f) not more than thirty percent of
the original invoices owing Borrower by the account debtor are more than 90 days
from the date of the original invoice; and (g) the account is not subject to any
lien prior to the lien of Bank.

"Reserves" means such amounts as may be required by Bank, at any time and from
time to time without prior notice to Borrower, which Bank deems to be adequate
to reserve against outstanding letters of credit, outstanding banker's
acceptances, Borrower's obligations to Bank or its affiliates or any guaranties
or other contingent debts of Borrower.

Required Reports.  Borrower shall certify to Bank by the 15th day of each month,
the amount of Eligible Accounts as of the first day of each month, on forms
required by Bank, together with all detail and supporting documents requested by
Bank.  Such reports shall be certified as to their correctness by the Chief
Financial Officer of Borrower.  Bank may at any time and from time to time,
during Borrowers normal business hours, enter upon any business premises of
Borrower and audit Borrower's accounts.  Bank's determination of the amount of
Eligible Accounts shall at all times be indisputable and deemed correct.
Borrower, at all times, shall cooperate with Bank by providing Bank information
and access to Borrower's premises and business records and shall be courteous to
Bank's agents.

CONDITIONS PRECEDENT.  The obligations of Bank to make the Loan and any advances
pursuant to this Agreement are subject to the following conditions precedent:
Additional Documents.  Receipt by Bank of such additional supporting documents
as Bank or its counsel may reasonably request.

CONDITIONS SUBSEQUENT.  Borrower shall provide Bank, no later than August 16,
1999, with evidence that it has filed all required reports for 1998 with the
Secretary of State.

IN WITNESS WHEREOF, Borrower, on the day and year first written above, has
caused this Agreement to be executed under seal.

                              GREENWICH TECHNOLOGY PARTNERS, INC.

Corporate                     By:_______________________________________
Seal                                Dennis M. Goett
                                    Chief Financial Officer

     TAXPAYER IDENTIFICATION NUMBER(S):

          GREENWICH TECHNOLOGY PARTNERS, INC. 13-3944171

                              FIRST UNION NATIONAL BANK
<PAGE>

                                      -7-

                              By:_______________________________________
                                    Robert Martin
                                    Vice President<PAGE>

                                                                    EXHIBIT 10.2

                              SECURITY AGREEMENT

                                                                   July 30, 1999

GREENWICH TECHNOLOGY PARTNERS, INC.
ATTN: LYNNE KRAUSS
43 GATEHOUSE ROAD
STAMFORD, CONNECTICUT 06902
(Individually and collectively "Debtor")

FIRST UNION NATIONAL BANK
300 MAIN STREET
STAMFORD, CONNECTICUT 06904
(Hereinafter referred to as "Bank")

For value received and to secure payment and performance of the Promissory Note
executed by the Debtor (also referred to herein as "Borrower") dated July 30,
1999, in the original principal amount of $2,500,000.00, payable to Bank, and
any extensions, renewals, modifications or novations thereof (the "Note"), this
Security Agreement and the other Loan Documents, and any other obligations of
Debtor to Bank however created, arising or evidenced, whether direct or
indirect, absolute or contingent, now existing or hereafter arising or acquired,
and whether or not evidenced by a Loan Document, including swap agreements (as
defined in 11 U.S.C. (S)101), future advances, and all costs and expenses
incurred by Bank to obtain, preserve, perfect and enforce the security interest
granted herein and to maintain, preserve and collect the property subject to the
security interest (collectively, "Obligations"), Debtor hereby grants to Bank a
continuing security interest in and lien upon, and for security purposes assigns
and transfers to Bank until all of the Obligations are repaid in full, the
following described property, whether now owned or hereafter acquired, and any
additions, replacements, accessions, or substitutions thereof and all cash and
non-cash proceeds and products thereof (collectively, "Collateral"):

All accounts, contract rights, leases, and any other rights of Debtor to payment
for goods sold or leased or for services rendered; furniture; furnishings;
equipment; machinery; accessories; moveable trade fixtures, goods held for sale
or being processed for sale in Debtor's business, including all raw materials,
supplies, and other materials used or consumed in Debtor's business, goods in
process, finished goods, and all other items customarily classified as
inventory; building improvement and construction materials, supplies and
equipment; chattel paper; instruments; documents; letters of credit (including,
but not limited to, any written undertaking to pay money conditioned upon the
presentation of specified documents, and advices of letters of credits), all
funds on deposit with Bank and its affiliates; and all general intangibles; as
well as all parts, replacements, substitutions, profits, products and cash and
non-cash proceeds of the foregoing (including insurance and condemnation
proceeds payable by reason of condemnation of or loss or damage thereto) in any
form and wherever located.
<PAGE>

                                      -2-

Debtor's, time savings accounts and certificates of deposit maintained in or
with Bank and affiliates of Bank, account(s)/certificate(s) of deposit number(s)
2000005700057 ("Assigned Deposits") .

Debtor hereby represents and agrees that:

OWNERSHIP. Debtor owns the Collateral. The Collateral is free and clear of all
liens, security interests, and claims except those previously reported in
writing to Bank, and Debtor will keep the Collateral free and clear from all
liens, security interests and claims, other than those granted to Bank. Until
all of the Obligations are repaid in full, Bank shall have the entire right and
interest in and to the Assigned Deposits. By executing this Security Agreement,
Debtor has divested itself of all control over the Assigned Deposits and Bank is
entitled to and does possess sole dominion and control over the Assigned
Deposits and is entitled to receive the benefits accruing with respect thereto.
Debtor surrenders all authority or right to withdraw, collect, receive the
benefits of, or otherwise assign or encumber the Assigned Deposits, and
authorizes Bank (and each affiliate and branch office of Bank or such affiliate)
to treat Bank as the sole and exclusive owner of the Assigned Deposits. Upon the
maturity of the Assigned Deposits, Bank shall reinvest the Assigned Deposits in
an investment of Bank's choice. Bank shall have no liability to Debtor for any
loss incurred in connection with or arising out of any such reinvestment except
for loss resulting from Bank's gross negligence or willful misconduct. The
assignment evidenced by this Security Agreement is a continuing one and is
irrevocable so long as any of the Obligations are outstanding or the Bank shall
have any obligations under the Loan Documents and shall terminate only upon
payment or other satisfaction in full of all Obligations or Bank's
acknowledgment in writing that this Security Agreement has been terminated. Upon
termination of this Security Agreement, and to the extent the Assigned Deposits
have not been applied in satisfaction of the Obligations, Bank shall reassign
the Assigned Deposits to Debtor and return any passbooks, certificates, and
other documents in Bank's possession at Debtor's request.

NAME AND OFFICES. There has been no change in the name of Debtor, or the name
under which Debtor conducts business, within the five years preceding the date
hereof and Debtor has not moved its executive offices or residence within the
five years preceding the date hereof except as previously reported in writing to
Bank.

TITLE/TAXES. Debtor has good and marketable title to Collateral and will warrant
and defend same against all claims. Debtor will not transfer, sell, or lease
Collateral (except as permitted herein). Debtor agrees to pay promptly all taxes
and assessments upon or for the use of Collateral and on this Security
Agreement. At its option, Bank may discharge taxes, liens, security interests or
other encumbrances at any time levied or placed on Collateral. Debtor agrees to
reimburse Bank, on demand, for any such payment made by Bank. Any amounts so
paid shall be added to the Obligations.

WAIVERS. Debtor waives presentment, demand, protest, notice of dishonor, notice
of default, demand for payment, notice of intention to accelerate, and notice of
acceleration of maturity. Debtor further agrees not to assert against Bank as a
defense (legal or equitable), as a setoff, as a counterclaim, or otherwise, any
claims Debtor may have against any seller or lessor that provided
<PAGE>

                                      -3-

personal property or services relating to any part of the Collateral. Debtor
waives all exemptions and homestead rights with regard to the Collateral. Debtor
waives any and all rights to notice or to hearing prior to Bank's taking
immediate possession or control of any Collateral, and to any bond or security
which might be required by applicable law prior to the exercise of any of Bank's
remedies against any Collateral. All rights of Bank and security interests
hereunder, and all obligations of Debtor hereunder, shall be absolute and
unconditional, not discharged or impaired irrespective of (and regardless of
whether Debtor receives any notice of): (i) any lack of validity or
enforceability of any Loan Document; (ii) any change in the time, manner or
place of payment or performance, or in any term, of all or any of the
Obligations or the Loan Documents or any other amendment or waiver of or any
consent to any departure from any Loan Document; (iii) any exchange, release or
non-perfection of any collateral, or any release of or modifications of the
obligations of any guarantor or other obligor; (iv) any amendment or waiver of
or consent to departure from any Loan Document or other agreement. To the extent
permitted by law, Debtor hereby waives any rights under any valuation, stay,
appraisement, extension or redemption laws now existing or which may hereafter
exist and which, but for this provision, might be applicable to any sale or
disposition of the Collateral by Bank; and any other circumstance which might
otherwise constitute a defense available to, or a discharge of any party with
respect to the Obligations.

NOTIFICATIONS. Debtor will notify Bank in writing at least 30 days prior to any
change in: (i) Debtors chief place of business and/or residence; (ii) Debtors
name or identity; or (iii) Debtor's corporate/organizational structure. In
addition, Debtor shall promptly notify Bank of any claims or alleged claims of
any other person or entity to the Collateral or the institution of any
litigation, arbitration, governmental investigation or administrative
proceedings against or affecting the Collateral. Debtor will keep Collateral at
the location(s) previously provided to Bank until such time as Bank provides
written advance consent to a change of location. Debtor will bear the cost of
preparing and filing any documents necessary to protect Bank's liens.

COLLATERAL CONDITION AND LAWFUL USE. Debtor represents that the Collateral is in
good repair and condition and that Debtor shall use reasonable care to prevent
Collateral from being damaged or depreciating. Debtor shall immediately notify
Bank of any material loss or damage to Collateral. Debtor shall not permit any
item of Collateral to become a fixture to real estate or an accession to other
personal property. Debtor represents it is in compliance in all respects with
all laws, rules and regulations applicable to the Collateral and its properties,
operations, business, and finances.

RISK OF LOSS AND INSURANCE. Debtor shall bear all risk of loss with respect to
the Collateral. The injury to or loss of Collateral, either partial or total,
shall not release Debtor from payment or other performance hereof. Debtor agrees
to obtain and keep in force casualty and hazard insurance on Collateral naming
Bank as loss payee. Such insurance is to be in form and amounts and issued by
such companies as are satisfactory to Bank. All such policies shall provide to
Bank a minimum of 30 days written notice of cancellation. Debtor shall furnish
to Bank such policies, or other evidence of such policies satisfactory to Bank.
Bank is authorized, but not obligated, to purchase any or all insurance or
"Single Interest Insurance" protecting such interest as Bank deems appropriate
against such risks and for such coverage and for such amounts, including either
the loan amount or value of the Collateral, all at its discretion, and at
<PAGE>

                                      -4-

Debtor's expense. In such event, Debtor agrees to reimburse Bank for the cost of
such insurance and Bank may add such cost to the Obligations. Debtor shall bear
the risk of loss to the extent of any deficiency in the effective insurance
coverage with respect to loss or damage to any of the Collateral. Debtor hereby
assigns to Bank the proceeds of all such insurance and directs any insurer to
make payments directly to Bank. Debtor hereby appoints Bank its attorney-in-
fact, which appointment shall be irrevocable and coupled with an interest for so
long as Obligations are unpaid, to file proof of loss and/or any other forms
required to collect from any insurer any amount due from any damage or
destruction of Collateral, to agree to and bind Debtor as to the amount of said
recovery, to designate payee(s) of such recovery, to grant releases to insurer,
to grant subrogation rights to any insurer, and to endorse any settlement check
or draft. Debtor agrees not to exercise any of the foregoing powers granted to
Bank without Bank's prior written consent.

FINANCING STATEMENTS, POWER OF ATTORNEY. No financing statement (other than any
filed by Bank or disclosed above) covering any Collateral is on file in any
public filing office. On request of Bank, Debtor will execute one or more
financing statements in form satisfactory to Bank and will pay all costs and
expenses of filing the same or of filing this Security Agreement in all public
filing offices, where filing is deemed by Bank to be desirable. Bank is
authorized to file financing statements relating to Collateral without Debtor's
signature where authorized by law. Debtor hereby constitutes and appoints Bank
the true and lawful attorney of Debtor with full power of substitution to take
any and all appropriate action and to execute any and all documents or
instruments that may be necessary or desirable to accomplish the purpose and
carry out the terms of this Security Agreement, including, without limitation,
to ask, demand, collect, receive, receipt for, sue for, compound and give
acquittance for any and all amounts which may be or become due and payable under
the Assigned Deposits; to execute any and all withdrawal requests, receipts or
other orders for the payment of money drawn on the Assigned Deposits and to
endorse the name of Bank on all instruments given in payment or in partial
payment therefor. The foregoing power of attorney is coupled with an interest
and shall be irrevocable until all of the Obligations have been paid in full.
Neither Bank nor anyone acting on its behalf shall be liable for acts,
omissions, errors in judgment, or mistakes in fact in such capacity as attorney-
in-fact. Debtor ratifies all acts of Bank as attorney-in-fact. Debtor agrees to
take such other actions as might be requested for the perfection, continuation
and assignment, in whole or in part, of the security interests granted herein.
If certificates, passbooks, or other documentation or evidence is/are issued or
outstanding as to any of the Collateral, Debtor will cause the security
interests of Bank to be properly protected, including perfection by notation
thereon or delivery thereof to Bank.

LANDLORD/MORTGAGEE WAIVERS. Debtor shall cause each mortgagee of real property
owned by Debtor and each landlord of real property leased by Debtor to execute
and deliver instruments satisfactory in form and substance to Bank by which such
mortgagee or landlord waives its rights, if any, in the Collateral.

CONTRACTS, CHATTEL PAPER, ACCOUNTS, GENERAL INTANGIBLES. Debtor warrants that
Collateral consisting of contract rights, chattel paper, accounts, or general
intangibles is (i) genuine and enforceable in accordance with its terms except
as limited by law; (ii) not subject to any defense, setoff, claim or
counterclaim of a material nature against Debtor
<PAGE>

                                      -5-

except as to which Debtor has notified Bank in writing; and (iii) not subject to
any other circumstances that would impair the validity, enforceability, value,
or amount of such Collateral except as to which Debtor has notified Bank in
writing. Debtor shall not materially amend, modify or supplement any lease,
contract or agreement contained in Collateral or waive any material provision
therein, without prior written consent of Bank which shall not be unreasonable
withheld.

ACCOUNT INFORMATION. From time to time, at Bank's request, Debtor shall provide
Bank with schedules describing all accounts and contracts, including customers'
addresses, credited or acquired by Debtor and at Bank's request shall execute
and deliver written assignments of contracts and other documents evidencing such
accounts and contracts to Bank. Together with each schedule, Debtor shall, if
requested by Bank, furnish Bank with copies of Debtor's sales journals,
invoices, customer purchase orders or the equivalent, and original shipping or
delivery receipts for all goods sold, and Debtor warrants the genuineness
thereof.

ACCOUNT AND CONTRACT DEBTORS. If a Default should occur, Bank shall have the
right to notify the account and contract debtors obligated on any or all of the
Collateral to make payment thereof directly to Bank and Bank may take control of
all proceeds of any such Collateral, which rights Bank may exercise at any time.
The cost of such collection and enforcement, including attorneys' fees and
expenses, shall be borne solely by Debtor whether the same is incurred by Bank
or Debtor. If a Default should occur, upon demand of Bank, Debtor will, upon
receipt of all checks, drafts, cash and other remittances in payment on
Collateral, deposit the same in a special bank account maintained with Bank,
over which Bank also has the power of withdrawal.

If a Default should occur, no discount, credit, or allowance shall be granted by
Debtor to any account or contract debtor and no return of merchandise shall be
accepted by Debtor without Bank's consent. Bank may, after Default, settle or
adjust disputes and claims directly with account contract debtors for amounts
and upon terms that Bank considers advisable, and in such cases Bank will credit
the Obligations with the net amounts received by Bank, after deducting all of
the expenses incurred by Bank. Debtor agrees to indemnify and defend Bank and
hold it harmless with respect to any claim or proceeding arising out of any
matter related to collection of Collateral.

GOVERNMENT CONTRACTS. If any Collateral covered hereby arises from obligations
due to Debtor from any governmental unit or organization, Debtor shall
immediately notify Bank in writing and execute all documents and take all
actions demanded by Bank to ensure recognition by such governmental unit or
organization of the rights of Bank in the Collateral.

INVENTORY. So long as no Default has occurred, Debtor shall have the right in
the regular course of business, to process and sell Debtor's inventory, unless
Bank shall hereafter otherwise direct in writing. Upon demand of Bank, Debtor
will, upon receipt of all checks, drafts, cash and other remittances, in payment
of Collateral sold, deposit the same in a special bank account maintained with
Bank, over which Bank also has the power of withdrawal. Debtor shall comply in
all respects with all laws, regulations, rulings, and orders applicable to
Debtor or its assets or business including, without limitation, the Federal Fair
Labor Standards Act in the conduct of its
<PAGE>

                                      -6-

business and the production of inventory. Debtor shall notify Bank immediately
of any violation by Debtor of the Fair Labor Standards Act, and a failure of
Debtor to so notify Bank shall constitute a continuing representation that all
inventory then existing has been produced in compliance with the Fair Labor
Standards Act.

INSTRUMENTS, CHATTEL PAPER. Any Collateral that is instruments, chattel paper
and negotiable documents will be properly assigned to, the originals deposited
with and held by Bank, unless Bank shall hereafter otherwise direct or consent
in writing. Bank may, without notice, before or after maturity of the
Obligations, exercise any or all rights of collection, conversion, or exchange
and other similar rights, privileges and options pertaining to Collateral, but
shall have no duty to do so.

COLLATERAL DUTIES. Bank shall have no custodial or ministerial duties to perform
with respect to Collateral pledged except as set forth herein; and by way of
explanation and not by way of limitation, Bank shall incur no liability for any
of the following: (i) loss or depreciation of Collateral (unless caused by its
willful misconduct or gross negligence), (ii) failure to present any paper for
payment or protest, to protest or give notice of nonpayment, or any other notice
with respect to any paper or Collateral. Bank's sole duty with respect to the
custody, safekeeping and physical preservation of any certificate, passbook, or
other documentation evidencing the Assigned Deposits in its possession shall be
to deal with it in the same manner as it deals with similar property for its own
account. Neither Bank, nor any of its employees or agents shall be liable for
failure to demand, collect, or realize upon any of the Assigned Deposits or for
any delay in doing so.

TRANSFER OF COLLATERAL. Bank may assign its rights in Collateral or any part
thereof to any assignee who shall thereupon become vested with all the powers
and rights herein given to Bank with respect to the property so transferred and
delivered, and Bank shall thereafter be forever relieved and fully discharged
from any liability with respect to such property so transferred, but with
respect to any property not so transferred, Bank shall retain all rights and
powers hereby given.

INSPECTION, BOOKS AND RECORDS. Debtor will at all times keep accurate and
complete records covering each item of Collateral, including the proceeds
therefrom. Bank, or any of its agents, shall have the right, at intervals to be
determined by Bank and without hindrance or delay, to inspect, audit, and
examine the Collateral and to make extracts from the books, records, journals,
orders, receipts, correspondence and other data relating to Collateral, Debtors
business or any other transaction between the parties hereto. Debtor will at its
expense furnish Bank copies thereof upon request.

CROSS COLLATERALIZATION LIMITATION. As to any other existing or future consumer
purpose loan made by Bank to Debtor, within the meaning of the Federal Consumer
Credit Protection Act, Bank expressly waives any security interest granted
herein in Collateral that Debtor uses as a principal dwelling and household
goods.

ATTORNEYS' FEES AND OTHER COSTS OF COLLECTION. Debtor shall pay all of Bank's
reasonable expenses incurred in enforcing this Security Agreement and in
preserving and
<PAGE>

                                      -7-

liquidating Collateral, including but not limited to, reasonable arbitration,
paralegals', attorneys' and experts' fees and expenses, whether incurred with or
without the commencement of a suit, trial, arbitration, or administrative
proceeding, or in any appellate or bankruptcy proceeding.

DEFAULT. If any of the following occurs, a default ("Default") under this
Security Agreement shall exist: (i) the failure of timely payment or performance
of any of Obligations or a default under any Loan Document; (ii) any breach of
any representation or agreement contained or referred to in this Security
Agreement or other Loan Document; (iii) any loss, theft, substantial damage, or
destruction of Collateral not fully covered by insurance, or as to which
insurance proceeds are not remitted to Bank within 30 days of the loss; (iv) any
sale, lease, or encumbrance of any Collateral not specifically permitted herein
without prior written consent of Bank; (v) the making of any levy, seizure, or
attachment on or of Collateral which is not removed within 10 days; (vi) the
death of, appointment of guardian for, dissolution of, termination of existence
of, loss of good standing status by, appointment of a receiver for, assignment
for the benefit of creditors of, or commencement of any bankruptcy or insolvency
proceeding by or against Debtor, its Subsidiaries or Affiliates ("Affiliate"
shall have the meaning as defined in 11 U.S.C. (S) 101; and "Subsidiary" shall
mean any corporation of which more than 50% of the issued and outstanding voting
stock is owned directly or indirectly by Debtor), if any, or any general partner
of or the holder(s) of the majority ownership interests in Debtor or any party
to the Loan Documents; or (vii) any attempt to collect, cash in or otherwise
recover deposits that are Collateral.

REMEDIES ON DEFAULT (INCLUDING POWER OF SALE). If a Default occurs, all of the
Obligations shall be immediately due and payable, without notice and Bank shall
have all the rights and remedies of a secured party under the Uniform Commercial
Code. Without limitation thereto, Bank shall have the following rights and
remedies: (i) to take immediate possession of Collateral, without notice or
resort to legal process, and for such purpose, to enter upon any premises on
which Collateral or any part thereof may be situated and to remove the same
therefrom, or, at its option, to render Collateral unusable or dispose of said
Collateral on Debtor's premises; (ii) to require Debtor to assemble the
Collateral and make it available to Bank at a place to be designated by Bank;
(iii) to exercise its right of setoff or bank lien as to any monies of Debtor
deposited in accounts of any nature maintained by Debtor with Bank or affiliates
of Bank, without advance notice, regardless of whether such accounts are general
or special; (iv) to dispose of Collateral, as a unit or in parcels, separately
or with any real property interests also securing the Obligations, in any county
or place to be selected by Bank, at either private or public sale (at which
public sale Bank may be the purchaser) with or without having the Collateral
physically present at said sale; (v) apply toward and setoff against and apply
to the then unpaid balance of the Obligations the Assigned Deposits (accelerated
to maturity if necessary), even if effecting such setoff results in a loss or
reduction of interest or the imposition of a penalty applicable to the early
withdrawal of time deposits; (vi) receive any interest or payments in respect of
the Assigned Deposits and apply such amounts and the Assigned Deposits to the
Obligations in such manner as Bank, in its sole discretion, may determine.

Any notice of sale, disposition or other action by Bank required by law and sent
to Debtor at Debtors address shown above, or at such other address of Debtor as
may from time to time be shown on the records of Bank, at least 5 days prior to
such action, shall constitute reasonable
<PAGE>

                                      -8-

notice to Debtor. Notice shall be deemed given or sent when mailed postage
prepaid to Debtor's address as provided herein. Bank shall be entitled to apply
the proceeds of any sale or other disposition of the Collateral, and the
payments received by Bank with respect to any of the Collateral, to Obligations
in such order and manner as Bank may determine. Collateral that is subject to
rapid declines in value and is customarily sold in recognized markets may be
disposed of by Bank in a recognized market for such collateral without providing
notice of sale. Debtor waives any and all requirements that the Bank sell or
dispose of all or any part of the Collateral at any particular time, regardless
of whether Debtor has requested such sale or disposition.

REMEDIES ARE CUMULATIVE. No failure on the part of Bank to exercise, and no
delay in exercising, any right, power or remedy hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise by Bank or any right,
power or remedy hereunder preclude any other or further exercise thereof or the
exercise of any right, power or remedy. The remedies herein provided are
cumulative and are not exclusive of any remedies provided by law, in equity, or
in other Loan Documents.

MISCELLANEOUS. (i) Amendments and Waivers. No waiver, amendment or modification
of any provision of this Security Agreement shall be valid unless in writing and
signed by Debtor and an officer of Bank. No waiver by Bank of any Default shall
operate as a waiver of any other Default or of the same Default on a future
occasion. (ii) Assignment. All rights of Bank hereunder are freely assignable,
in whole or in part, and shall inure to the benefit of and be enforceable by
Bank, its successors, assigns and affiliates. Debtor shall not assign its rights
and interest hereunder without the prior written consent of Bank, and any
attempt by Debtor to assign without Bank's prior written consent is null and
void. Any assignment shall not release Debtor from the Obligations. This
Security Agreement shall be binding upon Debtor, and the heirs, personal
representatives, successors, and assigns of Debtor. (iii) Applicable Law;
Conflict Between Documents. This Security Agreement shall be governed by and
construed under the law of the state named in the address of the Bank first
shown above without regard to that state's conflict of laws principles. If any
terms of this Security Agreement conflict with the terms of any commitment
letter or loan proposal, the terms of this Security Agreement shall control.
(iv) Jurisdiction. Debtor irrevocably agrees to nonexclusive personal
jurisdiction in the state in which the office of Bank as stated above is
located. (v) Severability. If any provision of this Security Agreement shall be
prohibited by or invalid under applicable law, such provision shall be
ineffective but only to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this
Security Agreement. (vi) Notices. Any notices to Debtor shall be sufficiently
given, if in writing and mailed or delivered to the address of Debtor shown
above or such other address as provided hereunder; and to Bank, if in writing
and mailed or delivered to Bank's office address shown above or such other
address as Bank may specify in writing from time to time. In the event that
Debtor changes Debtor's mailing address at any time prior to the date the
Obligations are paid in full, Debtor agrees to promptly give written notice of
said change of address by registered or certified mail, return receipt
requested, all charges prepaid. (vii) Captions. The captions contained herein
are inserted for convenience only and shall not affect the meaning or
interpretation of this Security Agreement or any provision hereof. The use of
the plural shall also mean the singular, and vice versa. (viii) Joint and
Several Liability. If more than one party has signed this Security
<PAGE>

                                      -9-

Agreement, such parties are jointly and severally obligated hereunder. (ix)
Binding Contract. Debtor by execution and Bank by acceptance of this Security
Agreement, agree that each party is bound by all terms and provisions of this
Security Agreement. (x) Loan Documents. The term "Loan Documents" refers to all
documents, whether now or hereafter existing, executed in connection with the
Obligations and may include, without limitation and whether executed by Debtor
or others, commitment letters, loan agreements, guaranty agreements,
confirmations, deposit or other similar agreements, other security agreements,
letters of credit, instruments, financing statements, mortgages, deeds of trust,
deeds to secure debt, and any amendments or supplements (excluding swap
agreements as defined in 11 U.S.C. (S) 101).

IN WITNESS WHEREOF, Debtor, on the day and year first written above, has caused
this Security Agreement to be executed under seal.

                                    GREENWICH TECHNOLOGY
                                    PARTNERS, INC.
                                    Taxpayer Identification:  13-3944171

CORPORATE                           By: ________________________________
SEAL                                     Dennis M. Goett, Financial Officer
<PAGE>

                                      -10-

                               Schedule A to UCC

Schedule A to UCC from Greenwich Technology Partners, Inc. ("Debtor") and for
the benefit of First Union National Bank ("Secured Party").

Description of Collateral:

All accounts, contract rights, leases, and any other rights of Debtor to payment
for goods sold or leased or for services rendered; furniture; furnishings;
equipment; machinery; accessories; moveable trade fixtures; goods held for sale
or being processed for sale in Debtor's business, including all raw materials,
supplies, and other materials used or consumed in Debtor's business, goods in
process, finished goods, and all other items customarily classified as
inventory; building improvement and construction materials, supplies and
equipment; chattel paper; instruments; documents; letters of credit (including,
but not limited to, any written undertaking to pay money conditioned upon the
presentation of specified documents, and advices of letters of credits); all
funds on deposit with Bank and its affiliates; and all general intangibles; as
well as all parts, replacements, substitutions, profits, products and cash and
non-cash proceeds of the foregoing (including insurance and condemnation
proceeds payable by reason of condemnation of or loss or damage thereto) in any
form and wherever located.

Debtor's, time savings accounts and certificates of deposit maintained in or
with Bank and affiliates of Bank, account(s)/certificate(s) of deposit number(s)
2000005700057 ("Assigned Deposits").

All products and proceeds (including investment property and security
entitlements) of any of the property described above in any form, and all
proceeds of such products.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00007-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00007-of-00352.parquet"}]]