Document:

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                          CLASS A WARRANT AGREEMENT

                       Dated as of December 15, 1999

                              by and between

                         HVIDE MARINE INCORPORATED

                                    and

                    STATE STREET BANK AND TRUST COMPANY

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<PAGE>

                  WARRANT   AGREEMENT   dated  as  of  December  15,  1999  (the
"Agreement")  between Hvide Marine  Incorporated,  a Delaware  corporation  (the
"Company"),  and State  Street  Bank and Trust  Company,  as warrant  agent (the
"Warrant Agent").

                  WHEREAS,  the Company  proposes to issue Class A Common  Stock
Purchase Warrants, as hereinafter described (the "Warrants"),  to purchase up to
an aggregate of 250,000  shares of Common Stock (as defined below) in connection
with  the  Plan  of  Reorganization  of  the  Company  under  Chapter  11 of the
Bankruptcy  Code (the  "Plan"),  each Warrant  entitling  the holder  thereof to
purchase one share of Common Stock.

                  WHEREAS,  the  Company  desires  the  Warrant  Agent to act on
behalf of the Company, and the Warrant Agent is willing so to act, in connection
with the issuance of Warrant  Certificates  (as defined below) and other matters
as provided herein.

                  NOW,  THEREFORE,  in  consideration  of the  premises  and the
mutual  agreements  herein  set  forth,  and for the  purpose  of  defining  the
respective  rights and  obligations  of the Company,  the Warrant  Agent and the
Holders (as defined below), the parties hereto agree as follows:

          SECTION  1.  Certain  Definitions.  As  used in  this  Agreement,  the
     following  terms  -------------------  shall have the following  respective
     meanings:

                  "Affiliate"  of  any  person  means  any  person  directly  or
indirectly  controlling  or  controlled  by or under  direct or indirect  common
control with such person.  For purposes of this definition,  "control" when used
with respect to any person means the power to direct the management and policies
of such person, directly or indirectly,  whether through the ownership of voting
securities,   by  contract  or  otherwise,   and  the  terms  "controlling"  and
"controlled" have meanings correlative to the foregoing.

                  "Commission" means the Securities and Exchange Commission.
                   ----------

                  "Common  Stock"  means the  common  stock,  par value $.01 per
share,  of the Company,  and any other  capital  stock of the Company into which
such common  stock may be  converted  or  reclassified  or that may be issued in
respect of, in exchange for, or in substitution for, such common stock by reason
of any stock splits, stock dividends, distributions,  mergers, consolidations or
other like events.

                  "Company"   means  Hvide  Marine   Incorporated,   a  Delaware
corporation, and its successors and assigns.

                  "Exchange Act" means the  Securities  Exchange Act of 1934, as
amended.

                  "Exercisability  Date" means  December 15, 1999, the Effective
Date of the Plan.

<PAGE>

                  "Exercise  Price" means the purchase price per share of Common
Stock to be paid upon the exercise of each Warrant in accordance  with the terms
hereof,  which price shall initially be $38.49 per share,  subject to adjustment
pursuant to Section 12 hereof.

                  "Expiration  Date" means  December 14, 2003,  the date that is
four years following the Exercisability Date.

                  "Holder" means a registered holder of Warrants.

                  "person"  means  any  individual,  corporation,   partnership,
limited liability  company,  joint venture,  association,  joint-stock  company,
trust,  unincorporated  organization  or  government  or any agency or political
subdivision thereof.

                  "Plan"  means  the  Debtors'   First  Amended  Joint  Plan  of
Reorganization  dated  November 1, 1999 filed by Hvide  Marine  Incorporated,  a
Florida corporation, and its affiliate and subsidiary debtors.

                  "Securities Act" means the Securities Act of 1933, as amended.

                  "Warrant  Agent" means State Street Bank and Trust  Company or
the successor or successors of such Warrant Agent  appointed in accordance  with
the terms hereof.

                  "Warrant  Shares"  means the shares of Common  Stock issued or
issuable upon the exercise of the Warrants.

                  SECTION 2.  Appointment of Warrant  Agent.  The Company hereby
appoints the Warrant  Agent to act as agent for the Company in  accordance  with
the  instructions  set forth in this  Agreement,  and the Warrant  Agent  hereby
accepts such appointment.

                  SECTION 3.  Issuance of Warrants:  Warrant  Certificates.  The
Warrants will be issued,  as instructed by the Company in writing on or prior to
the date of  issuance  pursuant  to Section 5 hereof,  in the form of (i) one or
more global  certificates  (Each a "Global Warrant" and collectively the "Global
Warrants")  substantially  in the form of Exhibit A attached  hereto  (including
footnote 1 thereto),  and (ii) one or more  warrants  in the form of  definitive
certificates  (each a  "Definitive  Warrant" and  collectively  the  "Definitive
Warrants"),  substantially  in the  form  of  Exhibit  A  attached  hereto  (not
including  footnote 1 thereto).  The Global  Warrants  shall be deposited on the
date  of  issuance  (which  shall  be the  Exercisability  Date)  or as  soon as
practicable  thereafter with, or on behalf of, The Depository Trust Company (the
"Depositary")  and  registered  in the name of Cede & Co.,  as the  Depositary's
nominee. Each Global Warrant shall represent such of the outstanding Warrants as
shall be specified  therein and each shall  provide that it shall  represent the
aggregate amount of outstanding  Warrants from time to time endorsed thereon and
that the aggregate amount of outstanding  Warrants  represented thereby may from
time to time be reduced or increased,  as  appropriate.  Upon request,  a Holder
that holds  Warrants  through the Depositary may receive from the Depositary and
the  Warrant  Agent  Definitive  Warrants  as set forth in Section 6 below.  The
initial

<PAGE>

Definitive Warrants shall also be issued on the date of issuance (which shall be
the  Exercisability  Date) or as soon as  practicable  thereafter,  and promptly
thereafter  shall be delivered by U.S.  mail by the Warrant Agent to the holders
thereof to the addresses  specified in accordance with the written  instructions
of the Company. Any certificates (each a "Warrant  Certificate" and collectively
the "Warrant  Certificates")  evidencing  the Global  Warrants or the Definitive
Warrants to be delivered  pursuant to this Agreement shall be  substantially  in
the form set forth in Exhibit A attached hereto.

                  SECTION  4.   Execution  of  Warrant   Certificates.   Warrant
Certificates  shall be signed on behalf of the  Company by its  Chairman  of the
Board or its President or a Vice  President and by its Secretary or an Assistant
Secretary  under its  corporate  seal.  Each  such  signature  upon the  Warrant
Certificates  may be in the form of a facsimile  signature of the present or any
future Chairman of the Board, President, Vice President,  Secretary or Assistant
Secretary  and  may  be  imprinted  or  otherwise   reproduced  on  the  Warrant
Certificates  and for that  purpose the Company may adopt and use the  facsimile
signature  of any person who shall have been  Chairman of the Board,  President,
Vice President, Secretary or Assistant Secretary,  notwithstanding the fact that
at the time the Warrant  Certificates  shall be  countersigned  and delivered or
disposed of such person shall have ceased to hold such  office.  The seal of the
Company may be in the form of a facsimile thereof and may be impressed, affixed,
imprinted or otherwise reproduced on the Warrant Certificates.

                  Warrant    Certificates   shall   be   dated   the   date   of
countersignature.

          SECTION 5.  Registration and  Countersignature.  The Warrant Agent, on
     behalf of the Company,  shall number and register the Warrant  Certificates
     in a register as they are issued by the Company.

                  Warrant  Certificates  shall be manually  countersigned by the
Warrant  Agent and shall not be valid for any purpose  unless so  countersigned.
The Warrant Agent shall, upon written instructions of the Chairman of the Board,
the President, a Vice President, the Treasurer or the Controller of the Company,
initially  countersign,  issue and  deliver  Warrant  Certificates  representing
Warrants  entitling the Holders  thereof to purchase not more than the number of
Warrant  Shares  referred  to  above  in the  first  recital  hereof  and  shall
countersign  and deliver  Warrant  Certificates  as  otherwise  provided in this
Agreement.

                  The  Company  and the  Warrant  Agent  may deem and  treat the
Holder(s)  of  the  Warrant   Certificates  as  the  absolute  owner(s)  thereof
(notwithstanding  any  notation of ownership  or other  writing  thereon made by
anyone),  for all purposes,  and neither the Company nor the Warrant Agent shall
be affected by any notice to the contrary.

<PAGE>

                  SECTION 6.  Registration of Transfers and Exchanges.
                              ---------------------------------------

                  (a) Transfer and Exchange of Global Warrants. The transfer and
exchange of Global  Warrants or beneficial  interests  therein shall be effected
through the  Depositary,  in  accordance  with this  Warrant  Agreement  and the
procedures of the Depositary therefor.

     (b) Exchange of a Beneficial  Interest in a Global Warrant for a Definitive
         Warrant.

     (i) Any person  having a beneficial  interest in a Global  Warrant may upon
         request  exchange such beneficial  interest for a Warrant  Certificate.
         Upon receipt by the Warrant Agent of written instructions or such other
         form of  instructions  as is  customary  for the  Depositary  from  the
         Depositary  or its nominee on behalf of any person  having a beneficial
         interest  in a Global  Warrant,  the  Warrant  Agent  shall  cause,  in
         accordance  with the  standing  instructions  and  procedures  existing
         between  the  Depositary  and  Warrant  Agent,  the number of  Warrants
         represented  by the  Global  Warrant  to be  reduced  by the  number of
         Warrants to be represented by the Warrant  Certificates to be issued in
         exchange for the interest in the Global  Warrant  and,  following  such
         reduction,  the  Company  shall  execute  and the  Warrant  Agent shall
         countersign  and  deliver  to the  transferee,  as the  case  may be, a
         Warrant Certificate.

     (ii)Warrant  Certificates issued in exchange for a beneficial interest in a
         Global  Warrant  pursuant to this Section 6(b) shall be  registered  in
         such names as the Depositary,  pursuant to instructions from its direct
         or indirect  participants  or  otherwise,  shall  instruct  the Warrant
         Agent. The Warrant Agent shall deliver such Warrant Certificates to the
         persons in whose names such Warrants are so registered.

     (c) Transfer and Exchange of Definitive Warrants.  When Definitive Warrants
         are presented to the Warrant Agent with a request:

     (i) to register the transfer of such Definitive Warrants; or

     (ii)to exchange such Definitive  Warrants for an equal number of Definitive
         Warrants of other authorized denominations,

the Warrant Agent shall  register the transfer or make the exchange as requested
if its requirements for such transactions are met; provided,  however,  that the
Definitive  Warrants  presented or surrendered  for  registration of transfer or
exchange  shall be duly  endorsed or  accompanied  by a written  instruction  of
transfer in form  satisfactory to the Warrant Agent, duly executed by the Holder
thereof or by his attorney, duly authorized in writing.

                  (d)  Exchange  or  Transfer  of a  Definitive  Warrant  for  a
Beneficial Interest in a Global Warrant.  Upon receipt by the Warrant Agent of a
Definitive Warrant,  duly endorsed or accompanied by appropriate  instruments of
transfer,  in form  satisfactory  to the Warrant  Agent,  together  with written
instructions directing the Warrant Agent to make, or to direct the Depositary to
make, an

                                                         5

<PAGE>

endorsement  on the  Global  Warrant to  reflect  an  increase  in the number of
Warrants  represented by the Global Warrant, the Warrant Agent shall cancel such
Definitive  Warrant and cause,  or direct the Depositary to cause, in accordance
with the standing  instructions  and procedures  existing between the Depositary
and the Warrant Agent, the number of Warrants  represented by the Global Warrant
to be increased  accordingly.  If no Global Warrants are then  outstanding,  the
Company shall issue and the Warrant Agent shall countersign a new Global Warrant
representing the appropriate number of Warrants.

                  (e)  Restrictions on Transfer and Exchange of Global Warrants.
Notwithstanding  any other provisions of this Warrant  Agreement (other than the
provisions  set forth in subsection (f) of this Section 6), a Global Warrant may
not be  transferred  as a whole  except by the  Depositary  to a nominee  of the
Depositary  or by a nominee  of the  Depositary  to the  Depositary  or  another
nominee  of  the  Depositary  or by the  Depositary  or any  such  nominee  to a
successor Depositary or a nominee of such successor Depositary.

     (f) Countersigning of Definitive  Warrants in Absence of Depositary.  If at
         any time:

         (i)      the  Depositary for the Global  Warrants  notifies the Company
                  that the  Depositary  is  unwilling  or unable to  continue as
                  Depositary for the Global Warrants and a successor  Depositary
                  for the Global Warrants is not appointed by the Company within
                  90 days after delivery of such notice; or

         (ii)     The  Company,  in its sole  discretion,  notifies  the Warrant
                  Agent in  writing  that it  elects to cause  the  issuance  of
                  Definitive Warrants under this Warrant Agreement,

then the Company shall execute, and the Warrant Agent, upon written instructions
signed by two officers of the Company,  shall countersign and deliver Definitive
Warrants,  in an aggregate number equal to the number of Warrants represented by
Global Warrants, in exchange for such Global Warrants.

                  (g)  Cancellation  of  Global  Warrant.  At  such  time as all
beneficial   interests  in  Global  Warrants  have  either  been  exchanged  for
Definitive  Warrants or canceled,  all Global  Warrants  shall be returned to or
retained and canceled by the Warrant Agent.

     (h) Obligations  with  respect to  Transfers  and  Exchanges  of  Warrants.

         (i)      To  permit  registrations  of  transfers  and  exchanges,  the
                  Company   shall  execute  and  the  Warrant  Agent  is  hereby
                  authorized to  countersign,  in accordance with the provisions
                  of  Section 5 and this  Section  6,  Definitive  Warrants  and
                  Global Warrants as required pursuant to the provisions of this
                  Section 6.

         (ii)     All Definitive  Warrants and Global  Warrants  issued upon any
                  registration of transfer or exchange of Definitive Warrants or
                  Global Warrants shall be the valid obligations of the Company,
                  entitled to the same benefits under this Warrant Agreement, as
                  the

<PAGE>

                  Definitive  Warrants or Global Warrants  surrendered upon such
                  registration of transfer or exchange.

         (iii)    Prior to due presentment  for  registration of transfer of any
                  Warrant,  the Warrant Agent and the Company may deem and treat
                  the person in whose  name any  Warrant  is  registered  as the
                  absolute  owner of such Warrant and neither the Warrant Agent,
                  nor the Company shall be affected by notice to the contrary.

                  SECTION 7. Terms of Warrants: Exercise of Warrants. Subject to
the terms of this  Agreement,  each  Holder  shall have the right,  which may be
exercised  commencing at the opening of business on the Exercisability  Date and
until 5:00 p.m., New York City time, on the Expiration  Date to receive from the
Company  the number of fully paid and  nonassessable  Warrant  Shares  which the
Holder may at the time be entitled to receive on exercise of such  Warrants  and
payment of the Exercise Price then in effect for such Warrant Shares.

                  A Warrant may be  exercised  upon  surrender to the Company at
the principal  office of the Warrant Agent of the  certificate  or  certificates
evidencing  the Warrant to be exercised with the form of election to purchase on
the  reverse  thereof  duly  filled  in and  signed,  which  signature  shall be
guaranteed by a bank or trust company having an office or  correspondent  in the
United States or a broker or dealer which is a member of a registered securities
exchange or the National  Association  of  Securities  Dealers,  Inc.,  and upon
payment to the  Warrant  Agent for the  account of the  Company of the  Exercise
Price as adjusted as herein provided,  for each of the Warrant Shares in respect
of which such Warrant is then exercised;  provided, that in connection with such
exercise,  the  Company  shall  be  furnished  with  information  regarding  the
citizenship of the Holder of the Warrant being exercised (which in the case of a
Definitive  Warrant,  shall be  furnished  by  completing  the  Application  for
Purchase  of Common  Stock set forth on the reverse of the  Warrant,  and in the
case of Global  Warrants,  shall be furnished in such manner  established by the
Depositary that is acceptable to the Company and complies with the  requirements
set forth in the Company's Certificate of Incorporation, as amended from time to
time); provided,  further, no Warrant may be exercised if the Company determines
that such  exercise  shall cause the ownership of its common stock by persons or
entities  that are not  citizens  of the  United  States to exceed  the  maximum
percentage  permitted  under  applicable  law as  more  fully  described  in the
Certificate  of  Incorporation  of the  Company,  as amended  from time to time;
provided,  further,  that in the event that the  exercise is not accepted by the
Company  for such  reason,  the Holder of the  Warrant  shall be entitled to the
remedies  that would have  otherwise  been  available  to such Holder  under the
Company's  Certificate of  Incorporation,  as amended from time to time, had the
Holder  been  a  transferee  of the  Company's  common  stock  that  caused  the
percentage  ownership by non-citizens to exceed the maximum permitted percentage
under applicable law. Notwithstanding anything to the contrary contained herein,
the Holder of a Warrant  that is not  entitled  to  exercise  such  Warrant as a
result of the  restrictions  on  ownership by non-  citizens  shall not have any
rights as a stockholder of the Company.  The Warrant Agent shall have no duty to
evaluate or determine the  citizenship  of any Holder of any Warrant at any time
and shall have no responsibility  with respect to the ownership of the Company's
common stock by any party or the consequences thereof.

<PAGE>

         Payment of the  aggregate  Exercise  Price  shall be made in cash or by
certified  or official  bank  check,  payable to the order of the  Company.  The
exercise of Warrants by Holders of beneficial  interest in Global Warrants shall
be  effected  in  accordance  with  this  Agreement  and the  procedures  of the
Depositary therefor.

                  Subject to the provisions of Section 8 hereof,  upon surrender
of Warrants and payment of the  Exercise  Price as provided  above,  the Warrant
Agent  shall  thereupon  promptly  notify the  Company,  and the  Company  shall
promptly  transfer to the Holder of such Warrant  Certificate a  certificate  or
certificates for the appropriate number of Warrant Shares to which the Holder is
entitled,  registered  or otherwise  placed in, or payable to the order of, such
name or names as may be  directed in writing by the  Holder,  and shall  deliver
such certificate or certificates representing the Warrant Shares and any cash in
lieu of any  fraction  of a share as  provided  in  Section  14 to the person or
persons  entitled  to receive the same.  Any such  certificate  or  certificates
representing  the  Warrant  Shares  shall be deemed to have been  issued and any
person so designated to be named therein shall be deemed to have become a Holder
of  record  of such  Warrant  Shares  as of the  date of the  surrender  of such
Warrants and payment of the Exercise Price.

                  The  Warrants   shall  be   exercisable   commencing   on  the
Exercisability  Date, at the election of the Holders thereof,  either in full or
from  time to time in part  and,  in the  event  that a  certificate  evidencing
Warrants  is  exercised  in  respect  of fewer  than all of the  Warrant  Shares
issuable  on such  exercise at any time prior to the date of  expiration  of the
Warrants, a new certificate evidencing the remaining Warrant or Warrants will be
issued,  and the Warrant Agent is hereby  irrevocably  authorized to countersign
and to deliver the required new Warrant Certificate or Certificates  pursuant to
the  provisions  of this  Section  and of  Section  4 hereof,  and the  Company,
whenever  required by the  Warrant  Agent,  will  supply the Warrant  Agent with
Warrant Certificates duly executed on behalf of the Company for such purpose.

                  All Warrant Certificates surrendered upon exercise of Warrants
shall be canceled by the Warrant Agent. Such canceled Warrant Certificates shall
then be  disposed  of by the  Warrant  Agent  in a  manner  satisfactory  to the
Company. The Warrant Agent shall account promptly to the Company with respect to
Warrants  exercised  and promptly pay to the Company all monies  received by the
Warrant  Agent for the purchase of Warrant  Shares  through the exercise of such
Warrants.

                  The Warrant Agent shall keep copies of this  Agreement and any
notices  given or  received  hereunder  by or from  the  Company  available  for
inspection  by the Holders  during  normal  business  hours at its  office.  The
Company  shall  supply the Warrant  Agent from time to time with such numbers of
copies of this Agreement as the Warrant Agent may request.

                  SECTION  8.  Payment  of  Taxes.  The  Company  will  pay  all
documentary  stamp taxes  attributable to the initial issuance of Warrant Shares
upon the exercise of Warrants;  provided, however, that the Company shall not be
required to pay any tax or taxes which may be payable in respect of any transfer
involved  in the  issue of any  Warrant  Certificates  or any  certificates  for
Warrant Shares in a name other than that of the Holder of a Warrant  Certificate
surrendered for registration or transfer or upon the exercise of a Warrant,  and
the Company shall not be required to issue or

<PAGE>

deliver such Warrant  Certificates or certificates  for Warrant Shares unless or
until the person or persons  requesting the issuance  thereof shall have paid to
the Company the amount of such tax or shall have established to the satisfaction
of the Company that such tax has been paid.

                  SECTION 9. Mutilated or Missing Warrant Certificates.  In case
any Warrant  Certificate  shall be mutilated,  lost,  stolen or  destroyed,  the
Company may in its discretion  issue and the Warrant Agent may  countersign,  in
exchange and  substitution  for and upon  cancellation of the mutilated  Warrant
Certificate,  or in lieu of and substitution for the Warrant  Certificate  lost,
stolen or destroyed, a new Warrant Certificate of like tenor and representing an
equivalent  number of  Warrants,  but only upon  receipt of evidence  reasonably
satisfactory  to the  Company  and the  Warrant  Agent  of such  loss,  theft or
destruction  of such Warrant  Certificate  and  indemnity,  if  requested,  also
reasonably   satisfactory  to  them.  Applicants  for  such  substitute  Warrant
Certificates  shall also comply with such other  reasonable  regulations and pay
such other reasonable charges as the Company or the Warrant Agent may prescribe.

                  SECTION 10. Reservation of Warrant Shares. The Company will at
all times reserve and keep available,  free from preemptive  rights,  out of the
aggregate of its  authorized  but unissued  Common Stock or its  authorized  and
issued  Common  Stock held in its  treasury,  for the  purpose of enabling it to
satisfy any  obligation to issue Warrant  Shares upon exercise of Warrants,  the
maximum number of shares of Common Stock which may then be deliverable  upon the
exercise of all outstanding Warrants.

                  The transfer agent for the Common Stock (the "Transfer Agent")
and every  subsequent  transfer  agent for any shares of the  Company's  capital
stock  issuable  upon the  exercise of any of the Warrants  will be  irrevocably
authorized and directed at all times to reserve such number of authorized shares
as shall be required  for such  purpose.  The  Company  will keep a copy of this
Agreement on file with the  Transfer  Agent and with every  subsequent  transfer
agent for any shares of the Company's  capital stock  issuable upon the exercise
of  the  Warrants.  The  Warrant  Agent  is  hereby  irrevocably  authorized  to
requisition  from time to time from such Transfer  Agent the stock  certificates
required to honor outstanding  Warrants upon exercise thereof in accordance with
the terms of this Agreement. The form of such requisition is attached as Exhibit
B. The Company will supply such Transfer  Agent with duly executed  certificates
for such purpose and will provide or otherwise make available any cash which may
be payable as provided in Section 14. The Company  will  furnish  such  Transfer
Agent  copies of all  notices of  adjustment  transmitted  to each Holder of the
Warrants  pursuant  to Section  15 hereof.  The  Transfer  Agent is  ChaseMellon
Shareholder  Services LLC. The Company will promptly notify the Warrant Agent in
writing of any change in the Transfer Agent.

                  Before  taking  any action  which  would  cause an  adjustment
pursuant to Section 12 hereof  that would  reduce the  Exercise  Price below the
then par  value  (if any) of the  Warrant  Shares,  the  Company  will  take any
corporate  action which may, in the opinion of its counsel (which may be counsel
for or  employed by the  Company),  be  necessary  in order that the Company may
validly and legally  issue fully paid and  nonassessable  Warrant  Shares at the
Exercise Price as so adjusted.

<PAGE>

                  The Company  covenants  that all Warrant  Shares  which may be
issued upon exercise of Warrants in accordance  with the terms of this Agreement
(including  the payment of the  Exercise  Price) will,  upon issue,  be duly and
validly issued,  fully paid,  nonassessable,  free of preemptive rights and free
from all taxes, liens,  charges and security interests with respect to the issue
thereof.

                  SECTION 11.  Obtaining  Stock Exchange  Listings.  The Company
will from  time to time  take all  action  which  may be  necessary  so that the
Warrant Shares,  immediately  upon their issuance upon the exercise of Warrants,
will be listed on the principal  securities  exchanges  and markets  (including,
without  limitation,  the NASDAQ  National  Market)  within the United States of
America, if any, on which other shares of Common Stock are then listed. Upon the
listing of such Warrant  Shares,  the Company  shall notify the Warrant Agent in
writing.  The Company will obtain and keep all  required  permits and records in
connection  with such listing.  Until the Warrant  Shares have been listed,  the
Company may suspend the exercisability of the Warrants.

                  SECTION 12. Adjustment of Exercise Price and Number of Warrant
Shares Issuable.  The number and kind of shares purchasable upon the exercise of
Warrants and the Exercise Price shall be subject to adjustment from time to time
as follows:

                  (a) Stock Splits, Combinations, etc. In case the Company shall
hereafter (A) subdivide its outstanding  shares of Common Stock, (B) combine its
outstanding shares of Common Stock into a smaller number of shares, or (C) issue
by reclassification of its shares of Common Stock any shares of capital stock of
the  Company,  the  Exercise  Price in effect and the  number of Warrant  Shares
issuable upon exercise of each Warrant immediately prior to such action shall be
adjusted  so that  the  Holder  of any  Warrant  thereafter  exercised  shall be
entitled to receive the number of shares of capital  stock of the Company  which
such Holder would have owned immediately  following such action had such Warrant
been exercised  immediately  prior thereto.  An adjustment made pursuant to this
paragraph shall become effective  immediately  after the record date in the case
of a dividend and shall become effective immediately after the effective date in
the case of a subdivision,  combination or reclassification.  If, as a result of
an  adjustment  made  pursuant  to this  paragraph,  the  Holder of any  Warrant
thereafter  exercised  shall  become  entitled to receive  shares of two or more
classes of capital  stock of the Company,  the Board of Directors of the Company
(whose  determination shall be conclusive) shall determine the allocation of the
adjusted  Exercise  Price  between  or among  shares of such  classes of capital
stock.

                  (b) Reclassification,  Combinations,  Mergers, etc. In case of
any  reclassification  or change of outstanding  shares of Common Stock issuable
upon  exercise of the Warrants  (other than as set forth in paragraph  (a) above
and other than a change in par value, or from par value to no par value, or from
no par value to par value or as a result of a subdivision or combination), or in
case of any  consolidation  or  merger  of the  Company  with  or  into  another
corporation  (other  than a  merger  in  which  the  Company  is the  continuing
corporation and which does not result in any  reclassification  or change of the
then  outstanding  shares of Common Stock or other capital  stock  issuable upon
exercise  of the  Warrants)  or in case of any  sale or  conveyance  to  another
corporation of the property of the Company as an entirety or substantially as an
entirety, then, as a condition of such reclassification,  change, consolidation,
merger, sale or conveyance, the Company or such a successor

<PAGE>

or purchasing  corporation,  as the case may be, shall forthwith make lawful and
adequate  provision  whereby the Holder of each Warrant then  outstanding  shall
have the right  thereafter  to receive on exercise of such  Warrant the kind and
amount of shares of stock and other securities and property receivable upon such
reclassification,  change, consolidation, merger, sale or conveyance by a Holder
of the number of shares of Common Stock  issuable  upon exercise of such Warrant
immediately prior to such reclassification,  change, consolidation, merger, sale
or conveyance.

                  (c) No De Minimis Adjustments. No adjustment in the conversion
price need be made unless the  adjustment  would require an increase or decrease
of at least 1% of the conversion  price. Any adjustments that are not made shall
be carried forward and taken into account in any subsequent adjustment.

                  (d) No Adjustment  for  Dividends.  Except as provided in this
Section  12, no  adjustment  in respect of any  dividends  or other  payments or
distributions  made to holders of securities  issuable upon exercise of Warrants
shall be made during the term of a Warrant or upon the exercise of a Warrant.

                  SECTION  13.  Statement  on  Warrants.   Irrespective  of  any
adjustment  in the number or kind of shares  issuable  upon the  exercise of the
Warrants or the Exercise Price,  Warrants  theretofore or thereafter  issued may
continue  to  express  the same  number  and kind of shares as are stated in the
Warrants initially issuable pursuant to this Agreement.

                  SECTION 14. Fractional Interest.  (a) The Company shall not be
required to, but may, at its option,  issue fractional shares of Common Stock on
the  exercise of  Warrants.  If any  fraction of a share of Common  Stock would,
except for the  provisions of this  Section,  be issuable on the exercise of any
Warrant,  the Company  shall direct the Transfer  Agent to pay an amount in cash
calculated by it to equal the then current market price per share  multiplied by
such fraction computed to the nearest whole cent. If more than one Warrant shall
be  presented  for  exercise  in full at the same time by the same  Holder,  the
number of full shares of Common Stock which shall be issuable upon such exercise
shall be computed on the basis of the aggregate number of shares of Common Stock
acquirable  on exercise of the  Warrants so  presented.  The  Holders,  by their
acceptance of the Warrant  Certificates,  expressly  waive any and all rights to
receive  any  fraction  of a  share  of  Common  Stock  or a  stock  certificate
representing a fraction of a share of Common Stock.

                  (b) For the purpose of any computation of current market price
under this Section 14, the current market price per share of Common Stock at any
date shall be the closing  price on the  business day  immediately  prior to the
exercise of the applicable  Warrant.  The closing price for any day shall be the
last  reported  sale price  regular way or, in case no such  reported sale takes
place on such day, the average of the closing bid and asked  prices  regular way
for such day, in each case (1) on the principal national  securities exchange on
which the shares of Common Stock are listed or to which such shares are admitted
to trading or (2) if the Common  Stock is not listed or admitted to trading on a
national  securities  exchange,  in the  over-the-counter  market as reported by
NASDAQ  National  Market or any comparable  system or (3) if the Common Stock is
not listed on NASDAQ National Market or a comparable system, as furnished by two
members of the NASD selected from

<PAGE>

time to time in good faith by the Board of  Directors  of the  Company  for that
purpose. In the absence of all of the foregoing,  or if for any other reason the
current  market price per share cannot be  determined  pursuant to the foregoing
provisions of this  paragraph  (b), the current  market price per share shall be
the fair  market  value  thereof  as  determined  in good  faith by the Board of
Directors of the Company.

                  SECTION 15. Notices to Warrant Holders. Upon any adjustment of
the Exercise Price pursuant to Section 12, the Company shall promptly thereafter
cause to be given to each Holder of Warrants at such Holder's address  appearing
on the  Warrant  register  and to the  Warrant  Agent  written  notice  of  such
adjustment by first-class  mail,  postage prepaid.  The Company's  determination
with  respect to  adjustments  pursuant to Section 12 shall be  conclusive.  The
Warrant Agent shall not at any time be under any duty or  responsibility  to any
Holder to determine  whether any facts exist that may require any  adjustment of
the number of shares of Common  Stock or other  stock or  property  issuable  on
exercise of the Warrants or the Exercise Price, or with respect to the nature or
extent of any such  adjustment when made, or with respect to the method employed
in making such  adjustment  or the  validity or value (or the kind or amount) of
any shares of Common  Stock or other stock or property  which may be issuable on
exercise of the  Warrants.  The Warrant Agent shall not be  responsible  for any
failure of the Company to make any cash payment or to issue, transfer or deliver
any  shares of Common  Stock or stock  certificates  or other  capital  stock or
property upon the exercise of any Warrant.

                  In case:

                  (a) the Company shall authorize the issuance to all holders of
         shares of Common Stock of rights,  options or warrants to subscribe for
         or purchase shares of Common Stock or of any other subscription  rights
         or warrants; or

                  (b) the Company shall  authorize the  distribution  (including
         upon its  liquidation)  to all  holders  of shares  of Common  Stock of
         evidences of its  indebtedness  or assets  (including cash dividends or
         cash  distributions  payable  out of  consolidated  earnings  or earned
         surplus,  but excluding  dividends payable in shares of Common Stock or
         distributions referred to in Section 12 hereof);

then the Company  shall cause to be filed with the Warrant Agent and shall cause
to be given to each Holder of Warrants at such Holder's address appearing on the
Warrant  register,  at  least  10  days  prior  to the  applicable  record  date
hereinafter  specified,  or promptly in the case of events for which there is no
record date, by first class mail,  postage prepaid, a written notice stating the
date as of which the holders of record of shares of Common  Stock to be entitled
to  receive  any  such  rights,  options,  warrants  or  distribution  is  to be
determined.  The failure to give the notice  required by this  Section 15 or any
defect  therein  shall not affect the legality or validity of any  distribution,
right, option or warrant or the vote upon any action.  Nothing contained in this
Agreement or in any of the Warrant Certificates shall be construed as conferring
upon the Holders thereof the right to vote or to consent or to receive notice as
shareholders in respect of the meetings of shareholders or the election of

<PAGE>

     directors  of the  Company  or  any  other  matter,  or  any  other  rights
whatsoever as shareholders of the Company.

                  SECTION 16. Merger, Consolidation or Change of Name of Warrant
Agent.  Any corporation into which the Warrant Agent may be merged or with which
it  may be  consolidated,  or any  corporation  resulting  from  any  merger  or
consolidation  to which the Warrant Agent shall be a party,  or any  corporation
succeeding to the business of the Warrant  Agent,  shall be the successor to the
Warrant  Agent  hereunder  without the  execution  or filing of any paper or any
further  act on the  part  of any of the  parties  hereto,  provided  that  such
corporation would be eligible for appointment as a successor warrant agent under
the  provisions of Section 18. Any such  successor  Warrant Agent shall promptly
cause  notice of its  succession  as Warrant  Agent to be mailed (by first class
mail,  postage prepaid) to each Holder at such Holder's last address as shown on
the register maintained by the Warrant Agent pursuant to this Agreement. In case
at the time such  successor  to the Warrant  Agent  shall  succeed to the agency
created  by  this  Agreement,  and in  case  at  that  time  any of the  Warrant
Certificates shall have been countersigned but not delivered, any such successor
to the Warrant  Agent may adopt the  countersignature  of the  original  Warrant
Agent; and in case at that time any of the Warrant  Certificates  shall not have
been  countersigned,  any  successor to the Warrant Agent may  countersign  such
Warrant  Certificates  either in the name of the predecessor Warrant Agent or in
the name of the  successor  to the  Warrant  Agent;  and in all such  cases such
Warrant  Certificates  shall  have the full  force and  effect  provided  in the
Warrant Certificates and in this Agreement.

                  In case at any  time the name of the  Warrant  Agent  shall be
changed  and at such  time  any of the  Warrant  Certificates  shall  have  been
countersigned  but not delivered,  the Warrant Agent whose name has been changed
may adopt the  countersignature  under its prior name,  and in case at that time
any of the Warrant  Certificates shall not have been countersigned,  the Warrant
Agent may countersign such Warrant  Certificates  either in its prior name or in
its changed name, and in all such cases such Warrant Certificates shall have the
full  force  and  effect  provided  in the  Warrant  Certificates  and  in  this
Agreement.

                  SECTION 17.  Warrant Agent.  The Warrant Agent  undertakes the
duties and  obligations  imposed by this Agreement upon the following  terms and
conditions,  by all of which the Company and the Holders of  Warrants,  by their
acceptance thereof, shall be bound:

                  (a)  The  statements  contained  herein  and  in  the  Warrant
         Certificates  shall be  taken  as  statements  of the  Company  and the
         Warrant Agent assumes no  responsibility  for the correctness of any of
         the same except such as describe  the Warrant  Agent or action taken or
         to be taken by it. The Warrant  Agent  assumes no  responsibility  with
         respect  to the  distribution  of the  Warrant  Certificates  except as
         herein otherwise provided.

                  (b) The Warrant Agent shall not be responsible for any failure
         of the Company to comply with any of the  covenants  contained  in this
         Agreement  or in the Warrant  Certificates  to be complied  with by the
         Company.

<PAGE>

                  (c) The  Warrant  Agent may  consult at any time with  counsel
         satisfactory  to it  (which  may  be  counsel  for or  employed  by the
         Company)   and  the  Warrant   Agent  shall  incur  no   liability   or
         responsibility  to  the  Company  or  to  any  Holder  of  any  Warrant
         Certificate  in respect of any action taken,  suffered or omitted by it
         hereunder  in good  faith and in  accordance  with the  opinion  or the
         advice of such counsel.

                  (d)  The   Warrant   Agent  shall   incur  no   liability   or
         responsibility  to  the  Company  or  to  any  Holder  of  any  Warrant
         Certificate  for any action taken in accordance  with the provisions of
         this Agreement in reliance on any Warrant  Certificate,  certificate of
         shares, notice,  resolution,  waiver, consent, order,  certificate,  or
         other paper, document or instrument believed by it to be genuine and to
         have been signed, sent or presented by the proper party or parties.

                  (e) The Company agrees to pay to the Warrant Agent  reasonable
         compensation for all services rendered by the Warrant Agent pursuant to
         this  Agreement,  to reimburse the Warrant Agent for all  out-of-pocket
         expenses,  including  counsel fees, taxes and governmental  charges and
         other charges of any kind and nature reasonably incurred by the Warrant
         Agent in the  execution of this  Agreement and to indemnify the Warrant
         Agent and save it harmless against any and all  liabilities,  including
         judgments,  reasonable  costs and counsel  fees,  for anything  done or
         omitted by the Warrant  Agent  pursuant to this  Agreement  except as a
         result of its gross  negligence  or bad faith.  The Warrant Agent shall
         notify the  Company of any claim for which it may seek  indemnity.  The
         Company shall defend the claim and the Warrant Agent shall cooperate in
         the  defense.  The  Warrant  Agent may have  separate  counsel  and the
         Company shall pay the reasonable fees and expenses of such counsel. The
         Company need not pay for any settlement made without its consent.

                  (f)  The  Warrant  Agent  shall  be  under  no  obligation  to
         institute  any action,  suit or legal  proceeding  or to take any other
         action  likely to involve  expense  unless  the  Company or one or more
         Holders of Warrant  Certificates  shall  furnish the Warrant Agent with
         reasonable  security and indemnity for any costs and expenses which may
         be  incurred,  but this  provision  shall not  affect  the power of the
         Warrant  Agent to take such action as it may consider  proper,  whether
         with or without any such  security or  indemnity.  All rights of action
         under this  Agreement  or under any of the  Warrants may be enforced by
         the  Warrant  Agent  without  the  possession  of any  of  the  Warrant
         Certificates or the production thereof at any trial or other proceeding
         relative thereto, and any such action, suit or proceeding instituted by
         the Warrant Agent shall be brought in its name as Warrant Agent and any
         recovery of judgment shall be for the ratable benefit of the Holders of
         the Warrants, as their respective rights or interests may appear.

                  (g) The Warrant Agent, and any stockholder,  director, officer
         or  employee  of it, may buy,  sell or deal in any of the  Warrants  or
         other securities of the Company or become pecuniarily interested in any
         transaction in which the Company may be interested, or contract with or
         lend  money to the  Company  or  otherwise  act as fully and  freely as
         though it were not

<PAGE>

         Warrant Agent under this  Agreement.  Nothing herein shall preclude the
         Warrant Agent from acting in any other  capacity for the Company or for
         any other legal entity.

                  (h) The Warrant Agent shall act hereunder  solely as agent for
         the  Company,  and  its  duties  shall  be  determined  solely  by  the
         provisions  hereof.  The Warrant Agent shall not be liable for anything
         which it may do or refrain from doing in connection with this Agreement
         except for its own gross negligence or bad faith.

                  (i) The Warrant  Agent shall not at any time be under any duty
         or responsibility  to any Holder of any Warrant  Certificate to make or
         cause to be made any  adjustment  of the  Exercise  Price or  number of
         Warrant Shares or other securities or property  deliverable as provided
         in this  Agreement,  or to determine  whether any facts exist which may
         require  any of such  adjustments,  or with  respect  to the  nature or
         extent of any such  adjustments,  when  made,  or with  respect  to the
         method  employed  in making the same.  The  Warrant  Agent shall not be
         accountable with respect to the validity or value or the kind or amount
         of any Warrant Shares or of any securities or property which may at any
         time be issued or  delivered  upon the  exercise of any Warrant or with
         respect to whether any such  Warrant  Shares or other  securities  will
         when  issued be validly  issued and fully paid and  nonassessable,  and
         makes no representation with respect thereto.

                  SECTION  18.   Resignation   and  Removal  of  Warrant  Agent;
Appointment of Successor.  No resignation or removal of the Warrant Agent and no
appointment  of a successor  warrant  agent  shall  become  effective  until the
acceptance of appointment by the successor warrant agent as provided herein. The
Warrant  Agent may resign its duties and be discharged  from all further  duties
and liability  hereunder  (except  liability  arising as a result of the Warrant
Agent's own gross negligence or willful  misconduct) after giving written notice
to the Company.  The Company may remove the Warrant  Agent upon written  notice,
and the Warrant  Agent shall  thereupon  in like manner be  discharged  from all
further duties and liabilities hereunder, except as aforesaid. The Warrant Agent
shall,  at the  Company's  expense,  cause to be mailed  (by first  class  mail,
postage  prepaid) to each Holder of a Warrant at such  Holder's  last address as
shown on the register of the Company  maintained  by the Warrant Agent a copy of
said notice of resignation  or notice of removal,  as the case may be. Upon such
resignation  or  removal,  the  Company  shall  appoint in writing a new warrant
agent. If the Company shall fail to make such appointment  within a period of 30
days after it has been notified in writing of such  resignation by the resigning
Warrant  Agent or after such removal,  then the  resigning  Warrant Agent or the
Holder of any Warrant may apply to any court of competent  jurisdiction  for the
appointment of a new warrant agent. Any new warrant agent,  whether appointed by
the Company or by such a court,  shall be a corporation doing business under the
laws of the United  States or any state  thereof,  in good standing and having a
combined capital and surplus of not less than $50,000,000.  The combined capital
and  surplus of any such new warrant  agent  shall be deemed to be the  combined
capital  and  surplus  as set  forth in the most  recent  annual  report  of its
condition  published by such warrant  agent prior to its  appointment,  provided
that such  reports are  published  at least  annually  pursuant to law or to the
requirements  of a federal or state  supervising or examining  authority.  After
acceptance in writing of such  appointment by the new warrant agent, it shall be
vested with the same powers,  rights,  duties and  responsibilities as if it had
been originally

<PAGE>

named herein as the Warrant Agent,  without any further  assurance,  conveyance,
act or deed; but if for any reason it shall be necessary or expedient to execute
and deliver any further  assurance,  conveyance,  act or deed, the same shall be
done and shall be legally and validly executed and delivered by the resigning or
removed  Warrant  Agent.   Not  later  than  the  effective  date  of  any  such
appointment,  the Company shall give notice  thereof to the resigning or removed
Warrant Agent. Failure to give any notice provided for in this Section, however,
or any  defect  therein,  shall not  affect  the  legality  or  validity  of the
resignation of the Warrant Agent or the  appointment of a new warrant agent,  as
the case may be.

                  SECTION 19. Notices to Company and Warrant  Agent.  Any notice
or demand  authorized by this Agreement to be given or made by the Warrant Agent
or by the  Holder  of any  Warrant  Certificate  to or on the  Company  shall be
sufficiently  given or made when and if  deposited  in the mail,  first class or
registered,  postage  prepaid,  addressed  (until  another  address  is filed in
writing by the Company with the Warrant Agent), as follows:

                             Hvide Marine Incorporated
                             2200 Eller Drive, P.O. Box 13038
                             Ft. Lauderdale, FL 33316
                             Telecopy:  (954) 527-1772
                             Telephone:  (954) 523-2200
                             Attention:  General Counsel

     Any notice  pursuant to this Agreement to be given by the Company or by the
Holder of any Warrant  Certificate  to the Warrant  Agent shall be  sufficiently
given when and if  deposited in the mail,  first-class  or  registered,  postage
prepaid,  addressed  (until  another  address is filed in writing by the Warrant
Agent with the Company) to the Warrant Agent as follows:

          State Street Bank and Trust Company
          Goodwin Square
          225 Asylum Street, 23rd Floor
          Hartford, CT 06103
          Attention:  Cauna Silva
          Telecopy:  (860) 244-1881

                  SECTION 20.  Supplements and  Amendments.  The Company and the
Warrant Agent may from time to time  supplement or amend this Agreement  without
the  approval  of any  Holders in order to cure any  ambiguity  or to correct or
supplement any provision contained herein which may be defective or inconsistent
with any other provision  herein,  or to make any other  provisions in regard to
matters or questions  arising  hereunder which the Company and the Warrant Agent
may deem  necessary  or  desirable  and which  shall  not in any way  materially
adversely  affect the  interests  of the  Holders of Warrant  Certificates.  Any
amendment or supplement to this Agreement that has a material  adverse effect on
the  interests  of  Holders  shall  require  the  written   consent  of  Holders
representing a majority of the then  outstanding  Warrants.  The consent of each
Holder of a Warrant  affected  shall be required for any  amendment  pursuant to
which the Exercise Price would be increased or the

<PAGE>

number  of  Warrant  Shares  purchasable  upon  exercise  of  Warrants  would be
decreased  (other  than  pursuant  to  adjustments  provided  for in  Section 12
hereof).  The Warrant Agent shall be entitled to receive and, subject to Section
17, shall be fully  protected in relying  upon,  an  officers'  certificate  and
opinion of counsel as conclusive  evidence that any such amendment or supplement
is authorized or permitted hereunder,  that it is not inconsistent herewith, and
that it will be valid and binding upon the Company in accordance with its terms.

     SECTION 21. Successors.  All the covenants and provisions of this Agreement
by or for the benefit of the  Company or the Warrant  Agent shall bind and inure
to the benefit of their respective successors and assigns hereunder.

     SECTION 22. Termination. This Agreement (other than any party's obligations
with   respect  to   Warrants   previously   exercised   and  with   respect  to
indemnification  under Section 17) shall  terminate at 5:00 p.m.,  New York City
time on the Expiration Date.

                  SECTION 23.  Governing  Law.  THIS  AGREEMENT AND EACH WARRANT
CERTIFICATE  ISSUED  HEREUNDER  SHALL BE DEEMED TO BE A CONTRACT  MADE UNDER THE
LAWS OF THE  STATE OF NEW  YORK  AND FOR ALL  PURPOSES  SHALL  BE  CONSTRUED  IN
ACCORDANCE WITH THE INTERNAL LAWS OF SAID STATE.

                  SECTION 24.  Benefits of This Agreement.

                  (a) Nothing in this  Agreement  shall be  construed to give to
any Person  other than the  Company,  the  Warrant  Agent and the Holders of the
Warrant  Certificates any legal or equitable  right,  remedy or claim under this
Agreement; but this Agreement shall be for the sole and exclusive benefit of the
Company, the Warrant Agent and the Holders of the Warrant Certificates.

                  (b)  Prior to the  exercise  of the  Warrants,  no Holder of a
Warrant  Certificate,  as such, shall be entitled to any rights of a stockholder
of the Company, including, without limitation, the right to receive dividends or
subscription  rights, the right to vote, to consent,  to exercise any preemptive
right,  to receive any notice of meetings of  stockholders  for the  election of
directors  of the  Company or any other  matter or to receive  any notice of any
proceedings of the Company,  except as may be specifically  provided for herein.
The  Holders  of the  Warrants  are not  entitled  to share in the assets of the
Company  in the  event of the  liquidation,  dissolution  or  winding  up of the
Company's affairs.

                  (c) All  rights of action in  respect  of this  Agreement  are
vested in the Holders of the  Warrants,  and any Holder of any Warrant,  without
the consent of the  Warrant  Agent or the Holder of any other  Warrant,  may, on
such  Holder's own behalf and for such  Holder's own benefit,  enforce,  and may
institute  and  maintain  any suit,  action or  proceeding  against  the Company
suitable to enforce, or otherwise in respect of, such Holder's rights hereunder,
including  the right to  exercise,  exchange  or  surrender  for  purchase  such
Holder's Warrants in the manner provided in this Agreement.

<PAGE>

                  SECTION 25.  Counterparts.  This  Agreement may be executed in
any number of counterparts and each of such counterparts  shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute
but one and the same instrument.

                  IN WITNESS  WHEREOF,  the  parties  hereto  have  caused  this
Agreement to be duly executed, as of the day and year first above written.

                                                     HVIDE MARINE INCORPORATED

                                                     By:
                                                     Name:
                                                     Title:

                                                     STATE STREET BANK AND TRUST
                                                     COMPANY

                                                     By:
                                                     Name:
                                                     Title:

<PAGE>

                                        EXHIBIT A
                             [Form of Warrant Certificate]
                                         [Face]

 Cusip No.   44851M 11 7                                      _______   Warrants

                              Class A Warrant Certificate

                               HVIDE MARINE INCORPORATED

                  This Warrant  Certificate  certifies  that , or its registered
assigns,  is the registered  holder of Warrants  expiring December 14, 2003 (the
"Warrants") to purchase Common Stock,  par value $.01 (the "Common  Stock"),  of
Hvide Marine Incorporated,  a Delaware corporation (the "Company"). Each Warrant
entitles the  registered  holder upon  exercise at any time from 9:00 a.m. on or
after the date of the consummation of the Plan of Reorganization of Hvide Marine
Incorporated,  a Florida  corporation,  under Chapter 11 of the Bankruptcy  Code
(the  "Exercisability  Date") until 5:00 p.m. New York City Time on December 14,
2003,  to receive  from the  Company one fully paid and  nonassessable  share of
Common Stock (the "Warrant Shares") at the initial exercise price (the "Exercise
Price") of $38.49  per share  payable  in lawful  money of the United  States of
America upon surrender of this Warrant  Certificate  and payment of the Exercise
Price at the  office or agency of the  Warrant  Agent,  but only  subject to the
conditions  set forth  herein and in the  Warrant  Agreement  referred to on the
reverse  hereof.  The Exercise Price and number of Warrant Shares  issuable upon
exercise  of the  Warrants  are subject to  adjustment  upon the  occurrence  of
certain events set forth in the Warrant Agreement.

                  No Warrant may be exercised before the Exercisability Date. No
Warrant may be  exercised  after 5:00 p.m.,  New York City Time on December  14,
2003,  and to the extent not exercised by such time such  Warrants  shall become
void.

                  Reference  is hereby  made to the further  provisions  of this
Warrant  Certificate set forth on the reverse hereof,  which further  provisions
shall for all  purposes  have the same effect as though  fully set forth at this
place.

                  This   Warrant   Certificate   shall   not  be  valid   unless
countersigned  by the  Warrant  Agent,  as such  term  is  used  in the  Warrant
Agreement.

<PAGE>

                  This Warrant Certificate shall be governed by and construed in
accordance with the internal laws of the State of New York.

         IN WITNESS WHEREOF, Hvide Marine Incorporated,  a Delaware corporation,
has caused this Warrant  Certificate  to be signed by its  President  and by its
Secretary,  each  by a  signature  or a  facsimile  thereof,  and has  caused  a
facsimile of its corporate seal to be affixed hereunto or imprinted hereon.

Dated:

                                                     HVIDE MARINE INCORPORATED

                                                     By:
                                                         Name:
                                                         Title:  President

                                                     By:
                                                         Name:
                                                         Title:  Secretary

                                                     [SEAL]

Countersigned:

State Street Bank and Trust Company

----------------------
as Warrant Agent

By:
      Authorized Signature

<PAGE>

                                  [Form of Warrant Certificate]
                                             [Reverse]

      [ Because vessels owned by Hvide Marine  Incorporated  (the "Company") and
      its  subsidiaries  operate in the United States coastwise  trades,  United
      States law provides that no more than 25 percent of its stock may be owned
      or controlled by Non-Citizens,  as defined in the Application for Purchase
      of Common Stock printed below on this  Certificate.  Under the Articles of
      Incorporation  of  the  Company,  the  maximum  percentage  of  the  total
      outstanding  shares of common  stock of the  Company  that may be owned by
      Non-Citizens is 24.99%. Any purported sale,  transfer or other disposition
      to Non-Citizens of shares of common stock which would result in increasing
      the  ownership  of shares by  Non-Citizens  above such  maximum  permitted
      percentage  shall be  ineffective  as against the Company to transfer  the
      shares or any voting or other rights in respect thereof, and such transfer
      shall not be recorded  on the books of the  Company in any such case,  and
      neither the Company nor the  transfer  agent for the common stock shall be
      required to recognize the transferee or purported  transferee thereof as a
      stockholder of the Company for any purpose whatsoever except to the extent
      necessary to effect any remedy  available  to the  Company.  Each share of
      common stock issued by the Company shall be  represented by either CITIZEN
      SHARE  CERTIFICATES  or NON-  CITIZEN  SHARE  CERTIFICATES,  and  shall be
      subject to the  limitations set forth thereon.  Any shares  represented by
      CITIZEN  SHARE  CERTIFICATES  held in the names of or for the  account  of
      Non-Citizens  will  have  no  rights,  and  the  Company  may  regard  any
      certificate  representing  such shares,  whether or not validly issued, as
      having been  invalidly  issued.  The Company  will  furnish to any Warrant
      holder, upon written request and without charge,  copies of the applicable
      provisions of the Certificate of  Incorporation  of the Company.  Any such
      request may be addressed to the Company.  The shares of common stock to be
      purchased  pursuant  to this  Warrant  will be  issued on the books of the
      Company  only if [the  Application  for Purchase of Common Stock set forth
      below has been executed by the purchaser and]1 the Company determines that
      such issuance will not cause the  percentage  ownership of common stock by
      Non-Citizens to exceed the maximum permitted percentage.

      [

                         APPLICATION FOR PURCHASE OF COMMON STOCK

     The undersigned (the "Applicant") makes application for the purchase by the
Applicant  of the number of shares of common  stock  indicated  below and hereby
certifies  to Hvide  Marine  Incorporated  that:  (answer (a), (b) and/or (c) as
applicable)  -------- 1 This  clause to be  inserted  only if the  Warrant is in
Definitive form.

<PAGE>

           (a)    The Applicant  will be the  beneficial  owner of shares of the
                  common stock of Hvide Marine  Incorporated and is o is not o a
                  "Citizen" (check one).

           (b)    The  Applicant  will hold shares of the common  stock of Hvide
                  Marine  Incorporated  for the benefit of one or more "Persons"
                  who ARE "Citizens."

           (c)    The  Applicant  will hold shares of the common  stock of Hvide
                  Marine  Incorporated  for the benefit of one or more "Persons"
                  who ARE NOT "Citizens."

         The Applicant agrees that, on the request of Hvide Marine Incorporated,
      he will  furnish  proof in  support  of this  Certificate.  The  Applicant
      understands  that he has an ongoing  obligation to provide the information
      set forth herein and agrees to provide a new  Citizenship  Certificate  at
      any time as the facts  affecting his citizenship or the citizenship of the
      beneficial  owner(s)  for whom he holds Hvide Marine  Incorporated  common
      stock change.  Hvide Marine  Incorporated will provide a blank Citizenship
      Certificate to the Applicant upon request.

                                         IMPORTANT NOTICE

      THIS  APPLICATION  CONSTITUTES  A BASIS  FOR HVIDE  MARINE  INCORPORATED'S
      REPRESENTATION TO THE UNITED STATES GOVERNMENT THAT IT IS A CITIZEN WITHIN
      THE MEANING OF THE SHIPPING  ACT,  1916,  AS AMENDED.  ANY PERSON MAKING A
      STATEMENT HEREIN WHICH HE KNOWS TO BE FALSE MAY BE PROCEEDED AGAINST UNDER
      TITLE 18, UNITED  STATES CODE,  SECTION  1001,  WHICH  SECTION  PRESCRIBES
      PENALTIES OF UP TO FIVE YEARS IMPRISONMENT OR A FINE OF UP TO $10,000.

  This Application is dated                               ,                   .

                                                   Signature of Applicant

      For purposes of this Certificate:

      A "Citizen" is:

     (i) any  individual  who is a  citizen  of the  United  States,  by  birth,
naturalization or as otherwise authorized by law;

     (ii) any  corporation  (A) that is  organized  under the laws of the United
States, or of a state of the United States or a political  subdivision  thereof,
Guam, Puerto Rico, the Virgin Islands, American Samoa, the District of Columbia,
the Northern Mariana Islands, or any other territory or possession of the United
States  (each a "State"),  (B) of which title to not less than 75% of each class
or series of its capital stock is Beneficially  Owned, as defined herein, by and
vested in Persons, as defined herein, who are Citizens,  as defined herein, free
from any trust or  fiduciary  obligation  in favor of  Non-Citizens,  as defined
herein,  (C) of  which  not  less  than  75% of the  voting  power  of the  then
outstanding  shares  of  capital  stock  of such  corporation  entitled  to vote
generally in the election of directors of such corporation is vested in Citizens
free from any contract or  understanding  through which it is arranged that such
voting power may be exercised  directly or indirectly on behalf of Non-Citizens,
(D) of which  there are no other  means by which  control is  conferred  upon or
permitted to be exercised by Non-Citizens,  (E) whose president, chief executive
officer (by whatever title), chairman of the Board of Directors and all officers
authorized to act in the absence or disability of such Persons are Citizens, and
(F) of  which  more  than  50% of that  number  of its  directors  necessary  to
constitute a quorum are Citizens;

     (iii) any  partnership  (A) that is organized  under the laws of the United
States or of a State, (B) all general partners of which are Citizens, and (C) of
which not less than a 75% interest is Beneficially  Owned and controlled by, and
vested in,  Persons who are  Citizens,  free and clear of any trust or fiduciary
obligation in favor of any Non-Citizens;

     (iv) any  association  (A) that is  organized  under the laws of the United
States or of a State,  (B) of which 100% of the members are Citizens,  (C) whose
president or other chief executive officer (or equivalent position), chairman of
the  Board of  Directors  (or  equivalent  committee  or body)  and all  Persons
authorized to act in the absence or disability of such Persons are Citizens, (D)
of which not less than 75% of the voting power of such  association  entitled to
vote generally in the election of directors (or equivalent Persons) is vested in
Citizens, free and clear of any trust or

<PAGE>

     fiduciary  obligation in favor of any  Non-Citizens,  and (E) of which more
than 50% of the number of its directors  (or  equivalent  Persons)  necessary to
constitute a quorum are Citizens;

     (v) any limited  liability  company (A) that is organized under the laws of
the  United  States  or of a  State,  (B) of  which  not  less  than  75% of the
membership  interests are  Beneficially  Owned by and vested in Persons that are
Citizens  free from any trust or fiduciary  obligation in favor of Non- Citizens
and of which the remaining  membership  interests are Beneficially  Owned by and
vested in Persons meeting the requirements of 46 U.S.C.ss.12102(a), (C) of which
not less  than 75% of the  voting  power is  vested  in  Citizens  free from any
contract or  understanding  through  which it is arranged that such voting power
may be exercised directly or indirectly in behalf of Non- Citizens, (D) of which
there are no other means by which  control is conferred  upon or permitted to be
exercised by Non-Citizens,  (E) whose president or other chief executive officer
(or  equivalent  position),  chairman of the Board of Directors  (or  equivalent
committee or body),  managing members (or  equivalent),  if any, and all Persons
authorized to act in the absence or disability of such Persons are Citizens, and
(F) of which  more  than  50% of the  number  of its  directors  (or  equivalent
Persons) necessary to constitute a quorum are Citizens;

     (vi) any joint venture (if not an association, corporation, partnership, or
limited  liability  company) (A) that is organized  under the laws of the United
States or of a State,  and (B) of which 100% of the members  are, or 100% of the
equity  is  Beneficially  Owned  by,  Citizens,  free and  clear of any trust or
fiduciary obligation in favor of any Non-Citizens; and

     (vii) any trust (A) that is domiciled in and existing under the laws of the
United States or of a State, (B) all the trustees of which are Citizens,  (C) of
which not less than a 75% interest is held for the benefit of Citizens, free and
clear of any trust or fiduciary obligation in favor of any Non-Citizens, and (D)
each  beneficiary  of  which  with an  enforceable  interest  in the  trust is a
Citizen.

      The  foregoing  definition  is applicable at all tiers of ownership and in
      both form and substance at each tier of ownership.

      A "Non-Citizen" is any Person other than a Citizen.

      A "Person" is an individual, corporation, partnership, association, trust,
      joint venture, limited liability company or other entity.

      A  Person  shall  be  deemed  to  be  the  "Beneficial  Owner"  of,  or to
      "Beneficially  Own" shares of Common Stock to the extent such Person would
      be  deemed to be the  beneficial  owner  thereof  pursuant  to Rule  13d-3
      promulgated by the Securities and Exchange Commission under the Securities
      Exchange Act of 1934, as such rule may be amended from time to time.

      ]2

     [ Unless  and  until  it is  exchanged  in  whole  or in part  for  Warrant
Certificates in definitive  form, the Warrants  represented by this  Certificate
may not be  transferred  except as a whole by the depositary to a nominee of the
depositary  or by a nominee  of the  depositary  to the  depositary  or  another
nominee  of  the  depositary  or by the  depositary  or any  such  nominee  to a
successor depositary or a nominee of such successor  depositary.  The Depository
Trust Company  ("DTC"),  (55 Water Street,  New York, New York) shall act as the
depositary until

     a successor shall be appointed by the Company.  Unless this  certificate is
presented by an authorized  representative of DTC to the issuer or its agent for
registration of transfer, exchange or payment, and any new certificate issued is
registered  in the name of Cede & Co.  or such  other  name as  requested  by an
authorized  representative of DTC (and any payment is made to Cede & Co. or such
other  entity as is  requested  by an  authorized  representative  of DTC),  ANY
TRANSFER,  PLEDGE OR OTHER USE HEREOF FOR VALUE OR -------- 2 The Application is
to be included only if the warrant is in Definitive Form.

<PAGE>

      OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
      hereof, Cede & Co., has an interest herein.]3

          The Warrants evidenced by this Warrant  Certificate are part of a duly
      authorized  issue of Warrants  expiring  December 14, 2003  entitling  the
      holder on exercise to receive  shares of Common Stock,  par value $.01, of
      the Company (the "Common Stock"),  and are issued or to be issued pursuant
      to a Warrant  Agreement,  dated as of  December  15,  1999  (the  "Warrant
      Agreement"),  duly  executed and  delivered by the Company to State Street
      Bank and Trust  Company,  as warrant  agent (the "Warrant  Agent"),  which
      Warrant  Agreement is hereby  incorporated by reference  herein and made a
      part of this instrument and is hereby referred to for a description of the
      rights,   limitation  of  rights,   obligations,   duties  and  immunities
      thereunder  of the Warrant  Agent,  the Company and the holders (the words
      "holder" or "holders" meaning the registered holder or registered holders)
      of the  Warrants.  A copy of the Warrant  Agreement may be obtained by the
      holder hereof upon written request to the Company.  Capitalized terms used
      herein without  definition shall have the meanings ascribed to them in the
      Warrant Agreement.

          Warrants  may be  exercised at any time from 9:00 a.m. on or after the
      Exercisability  Date  and  until  5:00  p.m.,  New York  City  Time on the
      Expiration  Date.  The  holder  of  Warrants  evidenced  by  this  Warrant
      Certificate  may exercise them by surrendering  this Warrant  Certificate,
      with the form of election to purchase set forth hereon properly  completed
      and executed,  together with payment of the Exercise Price in lawful money
      of the United States of America at the office of the Warrant Agent. In the
      event that upon any  exercise of Warrants  evidenced  hereby the number of
      Warrants  exercised  shall  be less  than the  total  number  of  Warrants
      evidenced  hereby,  there  shall be  issued  to the  holder  hereof or his
      assignee a new Warrant  Certificate  evidencing the number of Warrants not
      exercised.  No  adjustment  shall be made for any  dividends on any Common
      Stock issuable upon exercise of this Warrant.

          The Warrant  Agreement  provides  that upon the  occurrence of certain
      events the Exercise  Price set forth on the face hereof  and/or the number
      of shares of Common  Stock  issuable  upon the  exercise  of each  Warrant
      shall,  subject to certain conditions,  be adjusted.  Upon the exercise of
      any  Warrant,  the Company  may,  at its  option,  pay cash in lieu of the
      issuance of  fractional  shares of Common Stock as provided in the Warrant
      Agreement.

          Warrant  Certificates,  when  surrendered at the office of the Warrant
      Agent  by  the   registered   holder   thereof   in  person  or  by  legal
      representative  or attorney duly authorized in writing,  may be exchanged,
      in the  manner and  subject to the  limitations  provided  in the  Warrant
      Agreement,  but without payment of any service charge, for another Warrant
      Certificate  or  Warrant  Certificate's  of like tenor  evidencing  in the
      aggregate a like number of Warrants.

          Upon due  presentation  for  registration  of transfer of this Warrant
      Certificate  at the office of the Warrant Agent a new Warrant  Certificate
      or Warrant  Certificates  of like tenor and  evidencing in the aggregate a
      like number of Warrants shall be issued to the  transferee(s)  in exchange
      for this Warrant  Certificate,  subject to the limitations provided in the
      Warrant Agreement, without charge except for any tax or other governmental
      charge imposed in connection therewith.

          The  Company and the  Warrant  Agent may deem and treat the  Holder(s)
      hereof   as  the   absolute   owner(s)   of   this   Warrant   Certificate
      (notwithstanding any notation of ownership or other writing hereon made by
      anyone),  for the purpose of any exercise  hereof,  of any distribution to
      the Holder(s) hereof, and for all other purposes,  and neither the Company
      nor the Warrant  Agent  shall be  affected by any notice to the  contrary.
      Neither the Warrants nor

--------
3        This paragraph is to be included only if the Warrant is in global form.

<PAGE>

     this  Warrant  Certificate  entitles  any Holder  hereof to any rights of a
stockholder of the Company.

<PAGE>

                              [Form of Election to Purchase]
                        (To Be Executed Upon Exercise Of Warrant)

     The  undersigned  hereby  irrevocably  elects to  exercise  the right  with
respect to ______ Warrants,  represented by this Warrant Certificate, to receive
shares of Common  Stock and  herewith  makes  payment  therefor in the amount of
$___________.  The  undersigned  requests that a certificate  for such shares be
registered  in the name of , whose  address is and that such shares be delivered
to , whose  address is . If said number of shares is less than all of the shares
of Common Stock  purchasable  hereunder,  the  undersigned  requests  that a new
Warrant  Certificate  representing  the  remaining  balance  of such  shares  be
registered in the name of , whose address is , and that such Warrant Certificate
be delivered to , whose address is . .

                                                     Signature

          Date:

                                                     Signature Guaranteed

                                                       A8

<PAGE>

                                     EXHIBIT B
                       [Form of Common Stock Requisition]

[date]

[Transfer Agent Name]
[Transfer Agent Address]

     Re:  Hvide  Marine  Incorporated  Class A  Warrant  Agreement,  dated as of
December 15, 1999

Gentlemen:

Reference  is made to  that  certain  Class A  Warrant  Agreement,  dated  as of
December  15,  1999 (the  "Warrant  Agreement"),  by and  between  Hvide  Marine
Incorporated,  a Delaware corporation (the "Company"), and State Street Bank and
Trust Company, as warrant agent (the "Warrant Agent"). Pursuant to Section 10 of
the Warrant Agreement, the Warrant Agent hereby requests that _________________,
as transfer  agent for the Company (the "Transfer  Agent"),  provide the Warrant
Agent with duly executed certificates representing shares of common stock of the
Company  as set forth on  Appendix  1 hereto.  Such  shares  are to be issued in
respect of Warrants (as defined in the Warrant Agreement)  exercised pursuant to
the Warrant Agreement. If this request is in respect of a Definitive Warrant (as
defined in the  Warrant  Agreement)  attached  is a copy of the  Application  to
Purchase  Common  Stock of each holder of the  Warrants set forth on Appendix 1,
indicating the citizenship of such holder.

The Warrant Agent hereby  certifies  that it has received for the account of the
Company the Exercise  Price (as defined in the Warrant  Agreement) in respect of
each Warrant exercised for shares of common stock being requested hereunder.

STATE STREET BANK AND TRUST COMPANY

                                                     By:
                                                     Name:
                                                     Title:

<PAGE><PAGE>

                                                                    EXHIBIT 10.1

                                 LOAN AGREEMENT

          THIS LOAN AGREEMENT (this "Agreement") is entered into as of
November 24, 1999 among U.S. Foodservice, Inc., a Delaware corporation, and JP
Foodservice Distributors, Inc., a Delaware corporation (collectively, the
"Borrowers"), U.S. Foodservice, a Delaware corporation (the "Parent") and those
subsidiaries of the Borrowers identified on the signature pages hereto (together
with each other subsidiary which may become a party hereto by execution of a
joinder agreement and the Parent, the "Guarantors"); and Wachovia Bank, N.A.
("Lender").

                                   BACKGROUND

     WHEREAS, Borrowers and Lender desire to enter into a revolving credit
facility pursuant to which Lender will make credit available to Borrowers for
the purposes hereinafter set forth; and

     WHEREAS, as a condition to making such revolving credit facility available
to Borrowers, Lender has required, among other things, the Guarantors to
guarantee all of the Borrowers' obligations arising under this Agreement and any
other instruments or agreements executed pursuant hereto (collectively, the
"Loan Documents").

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
and agreements hereinafter set forth, the parties hereby agree as follows:

1.   DEFINITIONS

     1.1. Applicable Margin

          "Applicable Margin" shall mean, for purposes of calculating (i) the
applicable interest rate for any day for any Eurodollar Loan or (ii) the
applicable rate for the Facility Fee for any day for purposes of Section 2.3
hereof, the applicable margin corresponding to the Total Debt Ratio described
below in effect as of the most recent Determination Date:
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
                                                       Applicable               Applicable
                                                         Margin                   Margin
       Pricing                Total Debt                   for                      for
        Level                    Ratio              Eurodollar Loans           Facility Fee
-------------------------------------------------------------------------------------------------
<S>                     <C>                         <C>                        <C>
                         Equal to or less than
          II            4.0 to 1.0 but greater          112.5 bps                25.0 bps
                            than 3.5 to 1.0
-------------------------------------------------------------------------------------------------
          I              Equal to or less than          102.5 bps                25.0 bps
                              3.5 to 1.0
-------------------------------------------------------------------------------------------------
</TABLE>

Determination of the appropriate Applicable Margins based on the Total Debt
Ratio shall be made as of each Determination Date. The Total Debt Ratio in
effect as of a Determination Date shall establish the Applicable Margins that
shall be effective as of the date designated by Lender as the Applicable Margin
Change Date. Lender shall determine the Applicable Margins as of each
Determination Date occurring after the Facility Closing Date and shall promptly
notify Borrowers of the Applicable Margins so determined and of the related
Applicable Margin Change Date. Such determinations by Lender of the Applicable
Margins shall be rebuttably presumptive evidence thereof. As of the Facility
Closing Date and until the first Applicable Margin Date, (a) the Applicable
Margin for purposes of calculating the applicable interest rate for any
Eurodollar Loan shall be 112.5 bps and (b) the Applicable Margin for purposes of
calculating the Facility Fee shall be 25 bps. All of the terms in this Section
1.1 shall have the meanings set forth in the Existing Credit Agreement (as
defined below), except for the terms Applicable Margin and Facility Fee, which
shall have the meanings set forth in this Agreement.

     1.2. Existing Credit Agreement

          "Existing Credit Agreement" shall mean that certain 364-Day Credit
Agreement dated as of December 23, 1997 among Borrowers, the lenders that are
parties thereto from time to time and Bank of America, N.A., as Administrative
Agent, Banc of America Securities LLC (formerly NationsBanc Montgomery
Securities LLC and NationsBank Montgomery Securities, Inc.) and Chase
Securities, Inc., as Co-Arrangers, The Chase Manhattan Bank, as Syndication
Agent, and Bank of America, NT & SA, as Documentation Agent.

     1.3. Existing Guaranty Agreement

          "Existing Guaranty Agreement" shall mean that certain 364-Day Guaranty
Agreement dated as of December 23, 1997 among the Guarantors and Bank of
America, N.A., as agent.

                                       2
<PAGE>

     1.4. Incorporated Definitions

          The defined terms contained in Article I of the Existing Credit
Agreement (hereinafter referred to collectively as the "Incorporated
Definitions") which are used in the Incorporated Loan Provisions, the
Incorporated Representations and Warranties, the Incorporated Covenants, the
Incorporated Events of Default, the Incorporated Guaranty and the Incorporated
Miscellaneous Provisions (all as defined below, collectively, the "Incorporated
Terms") are hereby incorporated by reference into this Agreement to the same
extent and with the same effect as if set forth fully herein; provided, however,
that all references to the Administrative Agent and the Lenders in the
Incorporated Terms shall be deemed to be references to Lender.

2.   LOANS

     2.1. Revolving Credit Loan

          Subject to the terms and conditions hereof, during the period
beginning on the date hereof (the "Facility Closing Date") and ending on the
Revolving Period Termination Date, as the same may be extended pursuant to the
Incorporated Loan Provisions (as hereinafter defined), Lender shall make
advances (all such advances, collectively, the "Revolving Credit Loan") to
Borrowers in such amounts as Borrowers shall request from time to time, provided
that the maximum aggregate outstanding principal amount of the Revolving Credit
Loan shall at no time exceed $25,000,000 (the "Commitment"). Each such advance
hereunder may consist of Base Rate Loans or Eurodollar Loans (or a combination
thereof), as Borrowers may request. Each such advance shall be made upon written
or e-mail notice of Borrowers received by the Lender not later than 1:00 PM
Eastern Time three (3) Business Days prior to the date of the proposed advance,
and the amount of such proposed advance shall not be in an amount of less than
$100,000. Each such notice shall specify whether such advance shall consist of
Base Rate Loans, Eurodollar Loans or a combination thereof, and for each
Eurodollar Loan that is requested, the Interest Period with respect thereto.
Borrowers may borrow, repay and reborrow, subject to the limitations set forth
above. The aggregate outstanding principal amount of the Revolving Credit Loan
as of the Revolving Period Termination Date, together with all accrued and
unpaid interest thereon, shall be due and payable in full on the earlier of (i)
364 days following the Revolving Period Termination Date, as the same may have
been extended as aforesaid, and (ii) the Maturity Date; provided, however, that
under no circumstances (including without limitation one or more extensions of
the Revolving Period Termination Date pursuant to the Incorporated Loan
Provisions referred to in Section 2.2 below) shall the Maturity Date be later
than December 23, 2002.

                                       3
<PAGE>

     2.2. Interest, Extension of Term and Additional Provisions

          Reference is made to the provisions contained in Sections 2.01(d) and
2.01(e), Sections 3.03 through 3.09 and Sections 4.04 through 4.06 of the
Existing Credit Agreement (hereinafter referred to as the "Incorporated Loan
Provisions"). The Incorporated Loan Provisions are hereby incorporated by
reference into this Agreement to the same extent and with the same effect as if
set forth fully herein and shall inure to the benefit of Lender, without giving
effect to any waiver, amendment, modification or replacement of the Existing
Credit Agreement or any term or provision thereof occurring subsequent to the
date of this Agreement, except to the extent otherwise specifically provided in
Section 7 hereof; provided, however, that (a) all references in the Existing
Credit Agreement to the Applicable Margin shall be deemed to be references to
the Applicable Margin as defined in Section 1.1 hereof; (b) the references to
the Closing Date (within the definition of Revolving Period Termination Date
referenced in Section 2.01(e) and as used in Section 3.09(g) of the Existing
Credit Agreement), shall be deemed to be references to the Facility Closing
Date; (c) the references to Loans and Revolving Loans in the Existing Credit
Agreement shall be deemed to be references to the Revolving Credit Loan as
defined herein; (d) the Prime Rate shall be Lender's prime rate in effect at its
principal office; (e) the reference to the Credit Documents (within the
definition of Credit Obligations) shall be deemed to be a reference to the Loan
Documents hereunder; and (f) the reference to "this Agreement" in Section
3.09(a) of the Existing Credit Agreement shall be deemed to be a reference to
this Agreement.

     2.3. Facility Fee

          In consideration of the Commitment, Borrowers agree to pay to Lender a
facility fee (the "Facility Fee"): (a) for the period from the Facility Closing
Date to the Revolving Period Termination Date, on the aggregate Commitment, and
(b) for the period from the Revolving Period Termination Date to the Maturity
Date (as defined in the Existing Credit Agreement), on the aggregate Revolving
Credit Loan outstanding, computed at a per annum rate equal to the Applicable
Margin for each day during the applicable period. The Facility Fee shall be
payable quarterly in arrears on the fifteenth (15/th/) day of each January,
April, July and October and on the Maturity Date for the immediately preceding
fiscal quarter (or portion thereof).

3.   REPRESENTATIONS, WARRANTIES AND COVENANTS OF BORROWERS

          Reference is made to the Existing Credit Agreement and the
representations and warranties of Borrowers contained in Article IX of the
Existing Credit Agreement (hereinafter referred to as the "Incorporated
Representations and Warranties") and the covenants contained in Articles VI, VII
and VIII of the Existing Credit Agreement (hereinafter referred to as the
"Incorporated

                                       4
<PAGE>

Covenants"). The Incorporated Representations and Warranties and the
Incorporated Covenants are hereby incorporated by reference into this Agreement
to the same extent and with the same effect as if set forth fully herein and
shall inure to the benefit of Lender, without giving effect to any waiver,
amendment, modification or replacement of the Existing Credit Agreement or any
term or provision thereof occurring subsequent to the date of this Agreement,
except to the extent otherwise specifically provided in Section 7 hereof;
provided, however, that (a) the reference to "this Agreement" and the Credit
Documents in Articles VI and VII and in the definition of Material Adverse
Effect in the Existing Credit Agreement shall be deemed to be references to this
Agreement and the Loan Documents, respectively, and (b) the references to
Default and Event of Default shall be modified as provided in Section 5 hereof.

4.   CONDITIONS PRECEDENT

     4.1. Conditions Precedent to First Advance of the Revolving Credit Loan on
          or after the Date Hereof

          The obligation of Lender to make the first advance of the Revolving
Credit Loan on or after the date hereof is subject to the satisfaction (in the
reasonable judgment of Lender), at or before the date of such advance, of the
following conditions precedent:

          4.1.1.  Representations and Warranties; Compliance

          All representations and warranties made by Borrowers in this Agreement
or any of the other Loan Documents and by the Guarantors in the Incorporated
Guaranty shall be true and correct in all material respects on and as of the
date of such advance with the same force and effect as though such
representations and warranties had been made on and as of the date of such
advance.  All of the agreements, terms, covenants, and conditions required by
this Agreement to be complied with and performed by Borrowers prior to the date
of such advance shall have been complied with and performed.

          4.1.2.  Documents

          Borrowers shall deliver to Lender copies of all documents and other
items reasonably requested by Lender evidencing Borrowers' and the Guarantors'
authority to enter into and perform this Agreement and the other Loan Documents.

          4.1.3.  Executed Loan Documents

          Borrowers shall deliver to Lender fully executed copies of all the
Loan Documents.

                                       5
<PAGE>

     4.2.  Conditions Precedent to the Second and Each Subsequent Advance of the
           Revolving Credit Loan

          The obligation of Lender to make the second and each subsequent
advance of the Revolving Credit Loan is subject to the satisfaction (in the
reasonable judgment of Lender), as of the date of each such advance, of the
conditions precedent specified in Section 4.1.1 hereof.

5.   EVENTS OF DEFAULT AND REMEDIES

          Reference is made to the Existing Credit Agreement and the events of
default and remedies set forth in Article X of the Existing Credit Agreement
(hereinafter referred to as the "Incorporated Events of Default"). The
Incorporated Events of Default are hereby incorporated by reference into this
Agreement to the same extent and with the same effect as if set forth fully
herein and shall inure to the benefit of Lender, without giving effect to any
waiver, amendment, modification or replacement of the Existing Credit Agreement
or any term or provision thereof occurring subsequent to the date of this
Agreement, except to the extent otherwise specifically provided in Section 7
hereof; provided, however, that all references to "Loans," "this Agreement" or
the "Guaranty Agreement" in Article X of the Existing Credit Agreement shall be
deemed to be references to the Revolving Credit Loan, this Agreement and the
Incorporated Guaranty, respectively.

6.   GUARANTY

          Reference is made to the Existing Guaranty Agreement and the
agreements of the Guarantors contained in Section 1 through Section 11 and
Section 13 through Section 21 of the Existing Guaranty Agreement (hereinafter
referred to as the "Incorporated Guaranty"). The Incorporated Guaranty is hereby
incorporated by reference into this Agreement to the same extent and with the
same effect as if set forth fully herein and shall inure to the benefit of
Lender, without giving effect to any waiver, amendment, modification or
replacement of the Existing Guaranty Agreement or any term or provision thereof
occurring subsequent to the date of this Agreement, except to the extent
otherwise specifically provided in Section 7 hereof; provided, however, that (a)
the references to the Credit Agreement, the Credit Documents, the Loan, the
Commitments and to "this Guaranty Agreement" thereunder shall be deemed to be
references to this Agreement, the Loan Documents, the Revolving Credit Loan, the
Commitment and this Section 6, respectively (except that any cross-references in
the Existing Guaranty Agreement to Sections and definitions in the Existing
Credit Agreement shall not be modified by the foregoing proviso), (b) the notice
address set forth in Section 17(a) of the Existing Guaranty Agreement shall be
deemed to be 9755 Patuxent Woods Drive, Columbia, Maryland 21046, Attention of
Treasurer

                                       6
<PAGE>

(Facsimile No. 410-309-6296), and (c) the notice address set forth in Section
17(b) of the Existing Guaranty Agreement shall be deemed to be Wachovia Bank,
N.A., 191 Peachtree Street, N.E., Atlanta, Georgia 30303, Attention of Vice
President (Facsimile No. 404-332-6898).

7.   MISCELLANEOUS PROVISIONS

          Reference is made to the Existing Credit Agreement and the
miscellaneous provisions contained in Article XII of the Existing Credit
Agreement (hereinafter referred to as the "Incorporated Miscellaneous
Provisions"). The Incorporated Miscellaneous Provisions (and all other relevant
provisions of the Existing Credit Agreement related thereto) are hereby
incorporated by reference into this Agreement to the same extent and with the
same effect as if set forth fully herein and shall inure to the benefit of
Lender, without giving effect to any waiver, amendment, modification or
replacement of the Existing Credit Agreement or any term or provision thereof
occurring subsequent to the date of this Agreement, except to the extent
otherwise specifically provided in the following provisions of this Section 7;
provided, however, that the notice address set forth in Section 12.01(a) of the
Existing Credit Agreement shall be deemed to be 9755 Patuxent Woods Drive,
Columbia, Maryland 21046, Attention of Treasurer (Facsimile No. 410-309-6296)
and provided, further, that the notice address set forth in Section 12.01(b) of
the Existing Credit Agreement shall be deemed to be Wachovia Bank, N.A., 191
Peachtree Street, N.E., Atlanta, Georgia 30303, Attention of Vice President
(Facsimile No. 404-332-6898).

          In the event a waiver is granted under the Existing Credit Agreement
or the existing Guaranty Agreement or an amendment or modification is executed
with respect to the Existing Credit Agreement or the Existing Guaranty
Agreement, and such waiver, amendment and/or modification affects the
Incorporated Terms, then such waiver, amendment or modification shall be
effective with respect to the Incorporated Terms as incorporated by reference
into this Agreement only if consented to in writing by Lender. In the event of
any replacement of the Existing Credit Agreement or the Existing Guaranty
Agreement with a similar credit facility or guaranty agreement, as applicable
(in either case, the "New Facility"), the provisions contained in the New
Facility which correspond to the Incorporated Terms shall be deemed to be the
"Incorporated Terms" hereunder only if consented to in writing by Lender and, if
such consent is not granted or if the Existing Credit Agreement or the Existing
Guaranty Agreement is terminated and not replaced, then the definitions,
representations and warranties, covenants, events of default and miscellaneous
provisions contained in Articles I, IX, VI, VII, VIII, X and XII, the loan
provisions contained in Sections 2.01(d) and 2.01(e), Sections 3.03 through 3.09
and Sections 4.04 through 4.06 of the Existing Credit Agreement, and the
guaranty provisions contained in Sections 1 through Section 11 and Section 13
through Section 21 of the Existing Guaranty Agreement (together with any
waivers,

                                       7
<PAGE>

modifications or amendments approved in accordance with this Section 7) shall
continue to be the Incorporated Terms hereunder.

          The Borrowers and Guarantors hereby represent and warrant to the
Lender that they have (i) initiated a review and assessment of their respective
businesses and operations that could be adversely affected by the risk that
computer applications used by the Borrowers and the Guarantors may be unable to
recognize and perform properly date sensitive functions involving certain dates
prior to and any date after December 31, 1999 (the "Year 2000 Problem"), (ii)
developed contingency plans for addressing the Year 2000 Problem and (iii) made
inquiry regarding the ability of their principal suppliers and customers to
address the Year 2000 Problem. The Borrowers and the Guarantors are taking what
they consider to be reasonable steps to prevent major interruptions in their
respective businesses and operations due to the Year 2000 Problem, which steps
are expected to minimize but not eliminate the risk of the Year 2000 Problem.

                                       8
<PAGE>

          IN WITNESS WHEREOF, the undersigned have duly executed this Agreement,
or have caused this Agreement to be duly executed on their behalf, as of the day
and year first hereinabove set forth.

                              BORROWERS:

                              U.S. FOODSERVICE, INC.

                              By: /s/ Robert Gillison
                                 --------------------
                                 Name:  Robert Gillison
                                 Title: Treasurer

                              JP FOODSERVICE DISTRIBUTORS, INC.

                              By: /s/ Robert Gillison
                                 --------------------
                                 Name:  Robert Gillison
                                 Title: Treasurer

                              GUARANTORS:

                              U.S. FOODSERVICE

                              By: /s/ Robert Gillison
                                 --------------------
                                 Name:  Robert Gillison
                                 Title: Treasurer

                              CHRISTIANSON SALES CO. LIMITED
                                 PARTNERSHIP
                                 By: USF/Christianson Sales GP
                                     Holdings, LLC

                              By: /s/ Robert Gillison
                                 --------------------
                                 Name:  Robert Gillison
                                 Title: Treasurer

                              SUPERIOR PRODUCTS MFG. CO.
                                  LIMITED PARTNERSHIP
                                  By: USF/Superior Products GP
                                      Holdings, LLC

                              By: /s/ Robert Gillison
                                 --------------------
                                 Name:  Robert Gillison
                                 Title: Treasurer

                                       9
<PAGE>

                              E&H DISTRIBUTING CO.
                              HARRISON'S PRIME MEATS &
                                 PROVISIONS, INC.
                              ILLINOIS FRUIT & PRODUCE CORP.
                              TRANS-PORTE, INC.
                              EL PASADO, INC.
                              RITUALS COFFEE COMPANY
                              ROSELI PRODUCTS CORPORATION
                              SQUERI FOOD SERVICE, INC.
                              NEVADA BAKING COMPANY, INC.
                              OUTWEST MEAT COMPANY
                              HILLTOP HEARTH BAKERIES, INC.
                              CROSS VALLEY FARMS, INC.
                              BIGGERS BROTHERS, INC.
                              BRB HOLDINGS, INC.
                              F.H. BEVEVINO & COMPANY, INC.
                              FOOD DISTRIBUTION CONCEPTS, INC.
                              JOHN SEXTON & CO.
                              KING'S FOODSERVICE, INC.
                              ROANOKE RESTAURANT SERVICE, INC.
                              TARGETED SPECIALTY SERVICES, INC.
                              U.S. FOODSERVICE OF ATLANTA, INC.
                              U.S. FOODSERVICE OF ILLINOIS, INC.
                              U.S. SYSTEMS DISTRIBUTION, INC.
                              WHITE SWAN, INC.
                              J.H. HAAR & SONS, L.L.C.
                              U.S. FOODSERVICE OF BUFFALO, INC.
                              SOUTHTOWNS SEAFOOD, INC.
                              SOFCO, INC.
                              S.&O. PROPERTY CORPORATION
                              SQP, INC.
                              USF/CHRISTIANSON SALES GP
                                 HOLDINGS, LLC
                              USF/CHRISTIANSON SALES LP
                                 HOLDINGS, LLC
                              NEXT DAY GOURMET, INC.
                              USF/SUPERIOR PRODUCTS GP
                                 HOLDINGS, LLC
                              USF/SUPERIOR PRODUCTS LP
                                 HOLDINGS, LLC
                              JOSEPH WEBB FOODS, INC.
                              PACIFIC JADE, INC.

                              By: /s/ Robert Gillison
                                 --------------------
                                 Name:  Robert Gillison
                                 Title: Treasurer
                                 for each of the foregoing

                                       10
<PAGE>

                              LENDER:

                              WACHOVIA BANK, N.A.

                              By: /s/ Fitzhugh L. Wickham
                                  --------------------------
                                  Name:  Fitzhugh L. Wickham
                                  Title: Vice President

                                       11

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