Document:

<PAGE>   1

                                                               EXECUTION VERSION

                                                                   EXHIBIT 10.47

                            NEXTERA ENTERPRISES, INC.

                        GUARANTEE AND SECURITY AGREEMENT

                          Dated as of December 30, 1999

                           BANKBOSTON, N.A., as Agent

<PAGE>   2

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                Page
                                                                                                                ----
<S>                                                                                                              <C>
1.  Reference to Credit Agreement; Definitions; Certain Rules of Construction.....................................1
2.  Guarantee.....................................................................................................2
         2.1.  Guarantee of Credit Obligations....................................................................2
         2.2.  Continuing Obligation..............................................................................2
         2.3.  Waivers with Respect to Credit Obligations.........................................................3
         2.4.  Lenders' Power to Waive, etc.......................................................................5
         2.5.  Information Regarding the Company, etc.............................................................5
         2.6.  Certain Guarantor Representations..................................................................6
         2.7.  Subrogation........................................................................................7
         2.8.  Subordination......................................................................................7
         2.9.  Future Subsidiaries; Further Assurances............................................................7
         2.10.  Contribution Among Guarantors.....................................................................8
3.  Security......................................................................................................8
         3.1.  Credit Security....................................................................................8
                  3.1.1.  Tangible Personal Property..............................................................8
                  3.1.2.  Rights to Payment of Money..............................................................8
                  3.1.3.  Intangibles.............................................................................9
                  3.1.4.  Pledged Stock...........................................................................9
                  3.1.5.  Pledged Rights..........................................................................9
                  3.1.6.  Pledged Indebtedness....................................................................9
                  3.1.7.  Chattel Paper, Instruments, etc.........................................................9
                  3.1.8.  Leases..................................................................................9
                  3.1.9.  Deposit Accounts........................................................................9
                  3.1.10.  Collateral............................................................................10
                  3.1.11.  Books and Records.....................................................................10
                  3.1.12.  Insurance.............................................................................10
                  3.1.13.  All Other Property....................................................................10
                  3.1.14.  Proceeds and Products.................................................................10
                  3.1.15.  Excluded Property.....................................................................10
         3.2.  Additional Credit Security........................................................................11
                  3.2.1.  Real Property..........................................................................11
                  3.2.2.  Motor Vehicles and Aircraft............................................................11
         3.3.  Certain Covenants with Respect to Credit Security.................................................11
                  3.3.1.  Pledged Stock..........................................................................12
                  3.3.2.  Accounts and Pledged Indebtedness......................................................12
                  3.3.3.  No Liens or Restrictions on Transfer or Change of Control..............................12
                  3.3.4.  Location of Credit Security............................................................12
                  3.3.5.  Trade Names............................................................................13
                  3.3.6.  Insurance..............................................................................13
</TABLE>

                                      -i-

<PAGE>   3

<TABLE>
<CAPTION>
                                                                                                            Page
                                                                                                            ----
<S>                                                                                                          <C>
              3.3.7.  Intellectual Property..................................................................14
              3.3.8.  Deposit Accounts.......................................................................14
              3.3.9.  Modifications to Credit Security.......................................................14
              3.3.10.  Delivery of Documents.................................................................15
              3.3.11.  Perfection of Credit Security.........................................................15
     3.4.  Administration of Credit Security.................................................................15
              3.4.1.  Use of Credit Security.................................................................15
              3.4.2.  Accounts...............................................................................16
              3.4.3.  Distributions on Pledged Securities....................................................16
              3.4.4.  Voting Pledged Securities..............................................................16
     3.5.  Right to Realize upon Credit Security.............................................................17
              3.5.1.  Assembly of Credit Security; Receiver..................................................17
              3.5.2.  General Authority......................................................................17
              3.5.3.  Marshaling, etc........................................................................18
              3.5.4.  Sales of Credit Security...............................................................18
              3.5.5.  Sale without Registration..............................................................19
              3.5.6.  Application of Proceeds................................................................20
     3.6.  Custody of Credit Security........................................................................20
4.   General.................................................................................................20
</TABLE>

                                      -ii-

<PAGE>   4

                            NEXTERA ENTERPRISES, INC.

                        GUARANTEE AND SECURITY AGREEMENT

     This Agreement, dated as of December 30, 1999, is among Nextera
Enterprises, Inc., a Delaware corporation (the "COMPANY"), the Subsidiaries of
the Company from time to time party hereto and BankBoston, N.A., as
administrative agent (the "AGENT") for the Lenders under the Credit Agreement
(as defined below). The parties agree as follows:

1.   REFERENCE TO CREDIT AGREEMENT; DEFINITIONS; CERTAIN RULES OF CONSTRUCTION.
Reference is made to the Credit Agreement dated as of the date hereof, as from
time to time in effect (the "CREDIT AGREEMENT"), among the Company, the
Subsidiaries of the Company from time to time party thereto, the Lenders and the
Agent. Capitalized terms defined in the Credit Agreement and not otherwise
defined herein are used herein with the meanings so defined (as such definitions
may be modified or supplemented herein). Certain other capitalized terms are
used in this Agreement as specifically defined below in this Section 1. Except
as the context otherwise explicitly requires, (a) the capitalized term "Section"
refers to sections of this Agreement, (b) the capitalized term "Exhibit" refers
to exhibits to this Agreement, (c) references to a particular Section shall
include all subsections thereof, (d) the word "including" shall be construed as
"including without limitation", (e) terms defined in the UCC and not otherwise
defined herein have the meaning provided under the UCC, (f) references to a
particular statute or regulation include all rules and regulations thereunder
and any successor statute, regulation or rules, in each case as from time to
time in effect and (g) references to a particular Person include such Person's
successors and assigns to the extent not prohibited by this Agreement and the
other Credit Documents. References to "the date hereof" mean the date first set
forth above.

     "ACCOUNTS" is defined in Section 3.1.2.

     "AGREEMENT" means this Guarantee and Security Agreement as from time to
time in effect.

     "GUARANTOR" means each of the Company's Subsidiaries party to, or which
subsequently becomes party to, this Agreement as a Guarantor.

     "INTELLECTUAL PROPERTY" is defined in Section 3.3.7.

     "OBLIGORS" means the Company and the Guarantors from time to time.

     "PLEDGED INDEBTEDNESS" is defined in Section 3.1.6.

<PAGE>   5

     "PLEDGED RIGHTS" is defined in Section 3.1.5.

     "PLEDGED SECURITIES" means the Pledged Stock, the Pledged Rights and the
Pledged Indebtedness, collectively.

     "PLEDGED STOCK" is defined in Section 3.1.4.

     "UCC" means the Uniform Commercial Code as in effect in Massachusetts on
the date hereof; PROVIDED, HOWEVER, that with respect to the perfection of the
Agent's Lien on the Credit Security and the effect of nonperfection thereof, the
term "UCC" means the Uniform Commercial Code as in effect in any jurisdiction
the laws of which are made applicable by section 9-103 of the Uniform Commercial
Code as in effect in Massachusetts.

2.   GUARANTEE.

     2.1. GUARANTEE OF CREDIT OBLIGATIONS. Each Guarantor unconditionally
guarantees that the Credit Obligations will be performed and paid in full in
cash when due and payable, whether at the stated or accelerated maturity thereof
or otherwise, this guarantee being a guarantee of payment and not of
collectability and being absolute and in no way conditional or contingent. In
the event any part of the Credit Obligations shall not have been so paid in full
when due and payable, each Guarantor will, immediately upon notice by the Agent
or, without notice, immediately upon the occurrence of a Bankruptcy Default, pay
or cause to be paid to the Agent for the account of each Lender in accordance
with the Lenders' respective Percentage Interests therein the amount of such
Credit Obligations which are then due and payable and unpaid. The obligations of
each Guarantor hereunder shall not be affected by the invalidity,
unenforceability or irrecoverability of any of the Credit Obligations as against
the Company, any other Obligor, any other guarantor thereof or any other Person.
For purposes hereof, the Credit Obligations shall be due and payable when and as
the same shall be due and payable under the terms of the Credit Agreement or any
other Credit Document notwithstanding the fact that the collection or
enforcement thereof may be stayed or enjoined under the Bankruptcy Code or other
applicable law. If, notwithstanding any other provision of this Agreement,
including the obligations incurred by it under this Agreement and the rights
granted to it by Section 2.10, enforcement of the obligations of any Guarantor
under this Agreement for the full amount of the Credit Obligations to which such
Guarantor is liable would constitute an unlawful transfer under any applicable
fraudulent conveyance or fraudulent transfer law or any comparable law, then the
obligations of such Guarantor hereunder shall be reduced to the highest amount
for which such obligations may then be enforced without resulting in an unlawful
transfer under any such law.

     2.2. CONTINUING OBLIGATION. Each Guarantor acknowledges that the Lenders
have entered into the Credit Agreement (and, to the extent that the Lenders or
the Agent may enter into any future Credit Document, will have entered into such
agreement) in reliance on this Section 2 being a continuing irrevocable
agreement, and such Guarantor agrees that its

<PAGE>   6

guarantee may not be revoked in whole or in part. The obligations of the
Guarantors hereunder shall terminate when the commitment of the Lenders to
extend credit under the Credit Agreement shall have terminated and all of the
Credit Obligations have been indefeasibly paid in full in cash and discharged;
PROVIDED, HOWEVER, that:

          (1) if a claim is made upon the Lenders at any time for repayment or
     recovery of any amounts or any property received by the Lenders from any
     source on account of any of the Credit Obligations and the Lenders repay or
     return any amounts or property so received (including interest thereon to
     the extent required to be paid by the Lenders) or

          (2) if the Lenders become liable for any part of such claim by reason
     of (i) any judgment or order of any court or administrative authority
     having competent jurisdiction, or (ii) any settlement or compromise of any
     such claim (provided that, except after the occurrence and during the
     continuance of an Event of Default, the Company shall have consented to
     such settlement or compromise, such consent not to be unreasonably
     withheld),

then the Guarantors shall remain liable under this Agreement for the amounts so
repaid or property so returned or the amounts for which the Lenders become
liable (such amounts being deemed part of the Credit Obligations) to the same
extent as if such amounts or property had never been received by the Lenders,
notwithstanding any termination hereof or the cancellation of any instrument or
agreement evidencing any of the Credit Obligations. Not later than five days
after receipt of notice from the Agent, the Guarantors shall pay to the Agent an
amount equal to the amount of such repayment or return for which the Lenders
have so become liable. Payments hereunder by a Guarantor may be required by the
Agent on any number of occasions.

     2.3. WAIVERS WITH RESPECT TO CREDIT OBLIGATIONS. Except to the extent
expressly required by the Credit Agreement or any other Credit Document, each
Guarantor waives, to the fullest extent permitted by the provisions of
applicable law, all of the following (including all defenses, counterclaims and
other rights of any nature based upon any of the following):

          (1) presentment, demand for payment and protest of nonpayment of any
     of the Credit Obligations, and notice of protest, dishonor or
     nonperformance;

          (2) notice of acceptance of this guarantee and notice that credit has
     been extended in reliance on such Guarantor's guarantee of the Credit
     Obligations;

          (3) notice of any Default or of any inability to enforce performance
     of the obligations of the Company or any other Person with respect to any
     Credit Document or notice of any acceleration of maturity of any Credit
     Obligations;

                                      -3-

<PAGE>   7

          (4) demand for performance or observance of, and any enforcement of
     any provision of the Credit Agreement, the Credit Obligations or any other
     Credit Document or any pursuit or exhaustion of rights or remedies with
     respect to any Credit Security or against the Company or any other Person
     in respect of the Credit Obligations or any requirement of diligence or
     promptness on the part of the Agent or the Lenders in connection with any
     of the foregoing;

          (5) any act or omission on the part of the Agent or the Lenders which
     may impair or prejudice the rights of such Guarantor, including rights to
     obtain subrogation, exoneration, contribution, indemnification or any other
     reimbursement from the Company or any other Person, or otherwise operate as
     a deemed release or discharge;

          (6) failure or delay to perfect or continue the perfection of any
     security interest in any Credit Security or any other action which harms or
     impairs the value of, or any failure to preserve or protect the value of,
     any Credit Security;

          (7) any statute of limitations or any statute or rule of law which
     provides that the obligation of a surety must be neither larger in amount
     nor in other respects more burdensome than the obligation of the principal;

          (8) any "single action" or "anti-deficiency" law which would otherwise
     prevent the Lenders from bringing any action, including any claim for a
     deficiency, against such Guarantor before or after the Agent's or the
     Lenders' commencement or completion of any foreclosure action, whether
     judicially, by exercise of power of sale or otherwise, or any other law
     which would otherwise require any election of remedies by the Agent or the
     Lenders; and

          (9) all demands and notices of every kind with respect to the
     foregoing.

Each Guarantor represents that it has obtained the advice of counsel as to the
extent to which suretyship and other defenses may be available to it with
respect to its obligations hereunder in the absence of the waivers contained in
this Section 2.3.

     No delay or omission on the part of the Agent or the Lenders in exercising
any right under any Credit Document or under any other guarantee of the Credit
Obligations or with respect to the Credit Security shall operate as a waiver or
relinquishment of such right. No action which the Agent or the Lenders or the
Company or any other Obligor may take or refrain from taking with respect to the
Credit Obligations shall affect the provisions of this Agreement or the
obligations of each Guarantor hereunder. None of the Lenders' or the Agent's
rights shall at any time in any way be prejudiced or impaired by any act or
failure to act on the part of the Company or any other Obligor, or by any
noncompliance by the

                                      -4-

<PAGE>   8

Company or any other Obligor with any Credit Document, regardless of any
knowledge thereof which the Agent or the Lenders may have or otherwise be
charged with.

     2.4. LENDERS' POWER TO WAIVE, ETC. Each Guarantor grants to the Agent and
the Lenders full power in their discretion, without notice to or consent of such
Guarantor, such notice and consent being expressly waived to the fullest extent
permitted by applicable law, and without in any way affecting the liability of
such Guarantor under its guarantee hereunder:

          (1) To waive compliance with, and any Default under, and to consent to
     any amendment to or modification or termination of any provision of, or to
     give any waiver in respect of, the Credit Agreement, any other Credit
     Document, the Credit Security, the Credit Obligations or any guarantee
     thereof (each as from time to time in effect);

          (2) To grant any extensions of the Credit Obligations (for any
     duration), and any other indulgence with respect thereto, and to effect any
     total or partial release (by operation of law or otherwise), discharge,
     compromise or settlement with respect to the obligations of the Obligors or
     any other Person in respect of the Credit Obligations, whether or not
     rights against such Guarantor under this Agreement are reserved in
     connection therewith;

          (3) To take security in any form for the Credit Obligations, and to
     consent to the addition to or the substitution, exchange, release or other
     disposition of, or to deal in any other manner with, any part of any
     property contained in the Credit Security whether or not the property, if
     any, received upon the exercise of such power shall be of a character or
     value the same as or different from the character or value of any property
     disposed of, and to obtain, modify or release any present or future
     guarantees of the Credit Obligations and to proceed against any of the
     Credit Security or such guarantees in any order;

          (4) To collect or liquidate or realize upon any of the Credit
     Obligations or the Credit Security in any manner or to refrain from
     collecting or liquidating or realizing upon any of the Credit Obligations
     or the Credit Security; and

          (5) To extend credit under the Credit Agreement, any other Credit
     Document or otherwise in such amount as the Lenders may determine,
     including increasing the amount of credit and the interest rate and fees
     with respect thereto, even though the condition of the Obligors (financial
     or otherwise, on an individual or Consolidated basis) may have deteriorated
     since the date hereof.

     2.5. INFORMATION REGARDING THE COMPANY, ETC. Each Guarantor has made such
investigation as it deems desirable of the risks undertaken by it in entering
into this Agreement and is fully satisfied that it understands all such risks.
Each Guarantor waives any obligation

                                      -5-

<PAGE>   9

which may now or hereafter exist on the part of the Agent or the Lenders to
inform it of the risks being undertaken by entering into this Agreement or of
any changes in such risks and, from and after the date hereof, each Guarantor
undertakes to keep itself informed of such risks and any changes therein. Each
Guarantor expressly waives any duty which may now or hereafter exist on the part
of the Agent or the Lenders to disclose to such Guarantor any matter related to
the business, operations, character, collateral, credit, condition (financial or
otherwise), income or prospects of the Company and its Affiliates or their
properties or management, whether now or hereafter known by the Agent or the
Lenders. Each Guarantor represents, warrants and agrees that it assumes sole
responsibility for obtaining from the Company all information concerning the
Credit Agreement and all other Credit Documents and all other information as to
the Company and its Affiliates or their properties or management as such
Guarantor deems necessary or desirable.

     2.6. CERTAIN GUARANTOR REPRESENTATIONS. Each Guarantor represents that:

          (1) it is in its best interest and in pursuit of the purposes for
     which it was organized as an integral part of the business conducted and
     proposed to be conducted by the Company and its Subsidiaries, and
     reasonably necessary and convenient in connection with the conduct of the
     business conducted and proposed to be conducted by them, to induce the
     Lenders to enter into the Credit Agreement and to extend credit to the
     Company by making the Guarantee contemplated by this Section 2;

          (2) the credit available under the Credit Agreement will directly or
     indirectly inure to its benefit;

          (3) after giving effect to the foregoing considerations, the assets
     and liabilities of the Company and the Guarantors and rights of
     contribution among the Guarantors, including the rights provided in Section
     2.10:

               (1) it will not be rendered insolvent as a result of entering
          into this Agreement;

               (2) after giving effect to the transactions contemplated by this
          Agreement, it will have assets having a fair saleable value in excess
          of the amount required to pay its probable liability on its existing
          debts as such debts become absolute and matured;

               (3) it has, and will have, access to adequate capital for the
          conduct of its business; and

               (4) it has the ability to pay its debts from time to time
          incurred in connection therewith as such debts mature;

                                      -6-

<PAGE>   10

          (4) it has been advised by the Agent that the Lenders are unwilling to
     enter into the Credit Agreement unless the Guarantee contemplated by this
     Section 2 is given by it; and

          (5) except as otherwise permitted pursuant to the Credit Agreement,
     all of its equity or ownership interests are owned, directly or indirectly,
     by the Company.

     2.7. SUBROGATION. Each Guarantor agrees that, until the Credit Obligations
are paid in full, it will not exercise any right of reimbursement, subrogation,
contribution, offset or other claims against the Company or any other Obligor
arising by contract or operation of law in connection with any payment made or
required to be made by such Guarantor under this Agreement. After the payment in
full of the Credit Obligations, each Guarantor shall be entitled to exercise
against the Company and the other Obligors all such rights of reimbursement,
subrogation, contribution and offset, and all such other claims, to the fullest
extent permitted by law.

     2.8. SUBORDINATION. Each Guarantor covenants and agrees that all
Indebtedness, claims and liabilities then or thereafter owing by the Company or
any other Obligor to such Guarantor whether arising hereunder or otherwise are
subordinated to the prior payment in full of the Credit Obligations and are so
subordinated as a claim against such Obligor or any of its assets, whether such
claim be in the ordinary course of business or in the event of voluntary or
involuntary liquidation, dissolution, insolvency or bankruptcy, so that no
payment with respect to any such Indebtedness, claim or liability will be made
or received while any Event of Default exists; PROVIDED, HOWEVER, that the
foregoing provisions shall not limit the right of any Guarantor to receive
payments in respect of such Indebtedness, claims or liabilities so long as no
Event of Default exists.

     2.9. FUTURE SUBSIDIARIES; FURTHER ASSURANCES. The Company will from time to
time cause (a) any present Wholly Owned Subsidiary that is not a Guarantor
within 30 days after notice from the Agent or (b) any future Wholly Owned
Subsidiary within 30 days after any such Person becomes a Wholly Owned
Subsidiary, to join this Agreement as a Guarantor pursuant to a joinder
agreement in form and substance satisfactory to the Agent; PROVIDED, HOWEVER,
that in the event such a Wholly Owned Subsidiary is prohibited by any valid law,
statute, rule or regulation from guaranteeing the Credit Obligations, or if such
a guarantee by any Foreign Subsidiary would result in a repatriation of foreign
earnings under the Code (including the "deemed dividend" provisions of section
956 of the Code), (i) such guarantee will be limited to the extent necessary to
comply with such prohibition or to prevent such repatriation of foreign earnings
or (ii) if such limitation on the guaranteed amount is not sufficient to avoid
such prohibition or repatriation, the Company and its other Subsidiaries will
pledge the stock of such Wholly Owned Subsidiary (or as much of such stock as
may be pledged without resulting in such a repatriation) to the Agent to secure
the Credit Obligations

                                      -7-

<PAGE>   11

pursuant to a pledge agreement in form and substance satisfactory to the Agent.
Each Guarantor will, promptly upon the request of the Agent from time to time,
execute, acknowledge and deliver, and file and record, all such instruments, and
take all such action, as the Agent deems necessary or advisable to carry out the
intent and purpose of this Section 2.

     2.10. CONTRIBUTION AMONG GUARANTORS. The Guarantors agree that, as among
themselves in their capacity as guarantors of the Credit Obligations, the
ultimate responsibility for repayment of the Credit Obligations, in the event
that the Company fails to pay when due its Credit Obligations, shall be
equitably apportioned, to the extent consistent with the Credit Documents, among
the respective Guarantors (a) in the proportion that each, in its capacity as a
guarantor, has benefited from the extensions of credit to the Company by the
Lenders under the Credit Agreement, or (b) if such equitable apportionment
cannot reasonably be determined or agreed upon among the affected Guarantors, in
proportion to their respective net worths determined on or about the date hereof
(or such later date as such Guarantor becomes party hereto). In the event that
any Guarantor, in its capacity as a guarantor, pays an amount with respect to
the Credit Obligations in excess of its proportionate share as set forth in this
Section 2.10, each other Guarantor shall, to the extent consistent with the
Credit Documents, make a contribution payment to such Guarantor in an amount
such that the aggregate amount paid by each Guarantor reflects its proportionate
share of the Credit Obligations. In the event of any default by any Guarantor
under this Section 2.10, each other Guarantor will bear, to the extent
consistent with the Credit Documents, its proportionate share of the defaulting
Guarantor's obligation under this Section 2.10. This Section 2.10 is intended to
set forth only the rights and obligations of the Guarantors among themselves and
shall not in any way affect the obligations of any Guarantor to the Lenders
under the Credit Documents (which obligations shall at all times constitute the
joint and several obligations of all the Guarantors).

3.   SECURITY.

     3.1. CREDIT SECURITY. As security for the payment and performance of the
Credit Obligations, each Obligor party hereto mortgages, pledges and
collaterally grants and assigns to the Agent for the benefit of the Lenders and
the holders from time to time of any Credit Obligation, and creates a security
interest in favor of the Agent for the benefit of the Lenders and such holders
in, all of such Obligor's right, title and interest in and to (but none of its
obligations or liabilities with respect to) the items and types of present and
future property described in Sections 3.1.1 through 3.1.14 (subject, however, to
Section 3.1.15), whether now owned or hereafter acquired, all of which shall be
included in the term "CREDIT SECURITY":

          3.1.1. TANGIBLE PERSONAL PROPERTY. All goods, machinery, equipment,
     inventory and all other tangible personal property of any nature
     whatsoever, wherever located, including raw materials, work in process,
     finished parts and products, supplies, spare parts, replacement parts,
     merchandise for resale, computers, tapes, disks and computer equipment.

                                      -8-
<PAGE>   12

          3.1.2. RIGHTS TO PAYMENT OF MONEY. All rights to receive the payment
     of money, including accounts and receivables, rights to receive the payment
     of money under contracts, franchises, licenses, permits, subscriptions or
     other agreements (whether or not earned by performance), and rights to
     receive payments from any other source (all such rights, other than
     Financing Debt, being referred to herein as "ACCOUNTS").

          3.1.3. INTANGIBLES. All of the following (to the extent not included
     in Section 3.1.2): (a) contracts, franchises, licenses, permits,
     subscriptions and other agreements and all rights thereunder; (b) rights
     granted by others which permit such Obligor to sell or market items of
     personal property; (c) United States and foreign common law and statutory
     copyrights and rights in literary property and rights and licenses
     thereunder; (d) trade names, United States and foreign trademarks, service
     marks, internet domain names, registrations of any of the foregoing and
     related good will; (e) United States and foreign patents and patent
     applications; (f) computer software, designs, models, know-how, trade
     secrets, rights in proprietary information, formulas, customer lists,
     backlog, orders, subscriptions, royalties, catalogues, sales material,
     documents, good will, inventions and processes; (g) judgments, causes in
     action and claims, whether or not inchoate, and (h) all other general
     intangibles and intangible property and all rights thereunder.

          3.1.4. PLEDGED STOCK. (a) All shares of capital stock or other
     evidence of beneficial interest in any corporation, business trust or
     limited liability company, (b) all limited partnership interests in any
     limited partnership, (c) all general partnership interests in any general
     or limited partnership, (d) all joint venture interests in any joint
     venture and (e) all options, warrants and similar rights to acquire such
     capital stock or such interests. All such capital stock, interests,
     options, warrants and other rights are collectively referred to as the
     "PLEDGED STOCK".

          3.1.5. PLEDGED RIGHTS. All rights to receive profits or surplus of, or
     other Distributions (including income, return of capital and liquidating
     distributions) from, any partnership, joint venture or limited liability
     company, including any distributions by any such Person to partners, joint
     venturers or members. All such rights are collectively referred to as the
     "PLEDGED RIGHTS".

          3.1.6. PLEDGED INDEBTEDNESS. All Financing Debt from time to time
     owing to such Obligor from any Person (all such Financing Debt being
     referred to as the "PLEDGED INDEBTEDNESS").

          3.1.7. CHATTEL PAPER, INSTRUMENTS, ETC. All chattel paper,
     non-negotiable instruments, negotiable instruments, documents and
     investment property.

                                      -9-

<PAGE>   13

          3.1.8. LEASES. All leases of personal property, whether such Obligor
     is the lessor or the lessee thereunder.

          3.1.9. DEPOSIT ACCOUNTS. All general or special deposit accounts,
     including any demand, time, savings, passbook or similar account maintained
     by such Obligor with any bank, trust company, savings and loan association,
     credit union or similar organization, and all money, cash and cash
     equivalents of such Obligor, whether or not deposited in any such deposit
     account.

          3.1.10. COLLATERAL. All collateral granted by third parties to, or
     held by, such Obligor with respect to the Accounts, Pledged Securities,
     chattel paper, instruments, leases and other items of Credit Security.

          3.1.11. BOOKS AND RECORDS. All books and records, including books of
     account and ledgers of every kind and nature, all electronically recorded
     data (including all computer programs, disks, tapes, electronic data
     processing media and software used in connection with maintaining such
     Obligor's books and records), all files, correspondence and all containers
     for the foregoing.

          3.1.12. INSURANCE. All insurance policies which insure against any
     loss or damage to any other Credit Security or which are otherwise owned by
     such Obligor.

          3.1.13. ALL OTHER PROPERTY. All other property, assets and items of
     value of every kind and nature, tangible or intangible, absolute or
     contingent, legal or equitable.

          3.1.14. PROCEEDS AND PRODUCTS. All proceeds, including insurance
     proceeds, and products of the items of Credit Security described or
     referred to in Sections 3.1.1 through 3.1.13 and, to the extent not
     included in the foregoing, all Distributions with respect to the Pledged
     Securities.

          3.1.15. EXCLUDED PROPERTY. Notwithstanding Sections 3.1.1 through
     3.1.14 and 3.2.1, the payment and performance of the Credit Obligations
     shall not be secured by, and the definitions of "Accounts", "Credit
     Security", "Pledged Indebtedness", "Pledged Rights" and "Pledged Stock", as
     applicable, shall not include:

          (1) any contract, license, permit, lease or franchise that validly
     prohibits the creation by such Obligor of a security interest in such
     contract, license, permit, lease or franchise (or in any rights or property
     obtained by such Obligor under such contract, license, permit, lease or
     franchise); PROVIDED, HOWEVER, that the provisions of this Section 3.1.15
     shall not prohibit the security interests created by this Agreement from

                                      -10-

<PAGE>   14

     extending to the proceeds of such contract, license, permit, lease or
     franchise (or such rights or property) or to the monetary value of the good
     will and other general intangibles of the Obligors relating thereto;

          (2) any rights or property to the extent that any valid and
     enforceable law or regulation applicable to such rights or property
     prohibits the creation of a security interest therein; PROVIDED, HOWEVER,
     that the provisions of this Section 3.1.15 shall not prohibit the security
     interests created by this Agreement from extending to the proceeds of such
     rights or property or to the monetary value of the good will and other
     general intangibles of the Obligors relating thereto;

          (3) any lease of real or personal property to the extent that the
     creation of a security interest or lien would result in a breach or default
     by such Obligor under such lease or any other matter requiring the consent
     of the other party to such lease;

          (4) more than 66% of the outstanding voting stock or other voting
     equity in any Foreign Subsidiary to the extent that the pledge of voting
     stock or other voting equity above such amount would result in a
     repatriation of foreign earnings under the Code (including the "deemed
     dividend" provisions of section 956 of the Code); or

          (5) the items described in Section 3.2 (but only in the event and to
     the extent the Agent has not specified that such items be included in the
     Credit Security pursuant thereto).

     In addition, in the event any Obligor disposes of assets to third parties
in a transaction permitted by section 6.11 of the Credit Agreement, such assets,
but not the proceeds or products thereof, shall be released from the Lien on the
Credit Security created hereunder.

     3.2. ADDITIONAL CREDIT SECURITY. As additional Credit Security, each
Obligor covenants that it will mortgage, pledge and collaterally grant and
assign to the Agent for the benefit of the Lenders and the holders from time to
time of any Credit Obligation, and will create a security interest in favor of
the Agent for the benefit of the Lenders and such holders in, all of its right,
title and interest in and to (but none of its obligations with respect to) such
of the following present or future items as the Agent may from time to time
specify by notice to such Obligor, whether now owned or hereafter acquired, and
the proceeds and products thereof, except to the extent consisting of rights or
property of the types referred to in Section 3.1.15(a) through (c), subject only
to Liens permitted by Section 3.3.3, all of which shall thereupon be included in
the term "CREDIT SECURITY":

          3.2.1. REAL PROPERTY. All real property and immovable property and
     fixtures, leasehold interests and easements wherever located, together with
     all estates and interests of such Obligor therein, including lands,
     buildings, stores, manufacturing

                                      -11-

<PAGE>   15

     facilities and other structures erected on such property, fixed plant,
     fixed equipment and all permits, rights, licenses, benefits and other
     interests of any kind or nature whatsoever in respect of such real and
     immovable property.

          3.2.2. MOTOR VEHICLES AND AIRCRAFT. All motor vehicles and aircraft.

     3.3. CERTAIN COVENANTS WITH RESPECT TO CREDIT SECURITY. Each Obligor
covenants that:

          3.3.1. PLEDGED STOCK. All shares of capital stock, limited partnership
     interests, membership interests and similar securities included in the
     Pledged Stock shall be at all times duly authorized, validly issued, fully
     paid and (in the case of capital stock and limited partnership interests)
     nonassessable. Each Obligor will deliver to the Agent certificates
     representing the Pledged Stock, registered, if the Agent so requests, in
     the name of the Agent or its nominee or accompanied by a stock transfer
     power executed in blank and, if the Agent so requests, with the signature
     guaranteed, all in form and manner reasonably satisfactory to the Agent.
     Pledged Stock that is not evidenced by a certificate will be registered in
     the name of the Agent or its nominee on the issuer's records or an
     appropriate control statement with respect thereto shall be provided to the
     Agent, all in form and substance reasonably satisfactory to the Agent. The
     Agent may at any time after the occurrence and during the continuance of an
     Event of Default transfer into its name or the name of its nominee any
     Pledged Stock. In the event the Pledged Stock includes any Margin Stock,
     the Obligors will furnish to the Lenders Federal Reserve Form U-1 and take
     such other action as the Agent may reasonably request to ensure compliance
     with applicable laws.

          3.3.2. ACCOUNTS AND PLEDGED INDEBTEDNESS. Each Obligor will,
     immediately upon the receipt thereof, deliver to the Agent any promissory
     note or similar instrument, but not in any event including normal invoices
     in the ordinary course of business, representing any Account or Pledged
     Indebtedness, after having endorsed such promissory note or instrument in
     blank.

          3.3.3. NO LIENS OR RESTRICTIONS ON TRANSFER OR CHANGE OF CONTROL. All
     Credit Security shall be free and clear of any Liens and restrictions on
     the transfer thereof, including contractual provisions which prohibit the
     assignment of rights under contracts, except for Liens permitted by section
     6.8 of the Credit Agreement or by this Section 3.3.3. Without limiting the
     generality of the foregoing, each Obligor will in good faith attempt to
     exclude from agreements, instruments, deeds or leases to which it becomes a
     party after the date hereof provisions that would prevent such Obligor from
     creating a security interest in such agreement, instrument, deed or lease
     or any rights or property acquired thereunder as contemplated hereby. None
     of the Pledged Stock shall be subject to any option to purchase or similar
     rights of any Person. Except with

                                      -12-

<PAGE>   16

     the written consent of the Agent, which consent will not be unreasonably
     withheld, each Obligor will in good faith attempt to exclude from any
     agreement, instrument, deed or lease provisions that would restrict the
     change of control or ownership of the Company or any of its Subsidiaries,
     or the creation of a security interest in the ownership of the Company or
     any of its Subsidiaries.

          3.3.4. LOCATION OF CREDIT SECURITY. Each Obligor shall at all times
     keep its records concerning the Accounts at its chief executive office and
     principal place of business, which office and place of business shall be as
     set forth in exhibit 7.1 to the Credit Agreement (as from time to time
     supplemented in accordance with sections 6.4.1 and 6.4.2 of the Credit
     Agreement) or, so long as such Obligor shall have taken all steps
     reasonably necessary to perfect the Lenders' security interest in the
     Credit Security with respect to such new address, at such other address as
     such Obligor may specify by notice actually received by the Agent not less
     than 10 Banking Days prior to such change of address. No Obligor shall at
     any time keep tangible personal property of the type referred to in Section
     3.1.1 in any jurisdiction other than the jurisdictions specified in such
     exhibit 7.1 (as so supplemented) or, so long as such Obligor shall have
     taken all steps reasonably necessary to perfect the Lenders' security
     interest in the Credit Security with respect to such other jurisdiction,
     other jurisdictions as such Obligor may specify by notice actually received
     by the Agent not less than 10 days prior to moving such tangible personal
     property into such other jurisdiction.

          3.3.5. TRADE NAMES. No Obligor will adopt or do business under any
     name other than its name or names designated in exhibit 7.1 to the Credit
     Agreement (as from time to time supplemented in accordance with sections
     6.4.1 and 6.4.2 of the Credit Agreement) or any other name specified by
     notice actually received by the Agent not less than 10 Banking Days prior
     to the conduct of business under such additional name. Since its inception,
     no Obligor has changed its name or adopted or conducted business under any
     trade name other than a name specified in such exhibit 7.1 (as so
     supplemented).

          3.3.6. INSURANCE. Each insurance policy included in, or insuring
     against loss or damage to, the Credit Security shall name the Agent as
     additional insured party or as loss payee. No such insurance policy shall
     be cancelable or subject to termination or reduction in amount or scope of
     coverage until after at least 30 days' prior written notice from the
     insurer to the Agent. At least 10 days prior to the expiration of any such
     insurance policy for any reason, each Obligor shall furnish the Agent with
     a renewal or replacement policy and evidence of payment of the premiums
     therefor when due. Each Obligor grants to the Agent full power and
     authority as its attorney-in-fact, effective upon notice to such Obligor
     after the occurrence and during the continuance of an Event of Default, to
     obtain, cancel, transfer, adjust and settle any such insurance policy and
     to endorse any drafts thereon. Any amounts that the Agent receives under

                                      -13-

<PAGE>   17

     any such policy (including return of unearned premiums) insuring against
     loss or damage to the Credit Security when no Event of Default has occurred
     and is continuing shall be delivered to the Obligors for the replacement,
     restoration and maintenance of the Credit Security. Any such amounts that
     the Agent receives after the occurrence and during the continuance of an
     Event of Default shall, at the Agent's option, be applied to payment of the
     Credit Obligations or to the replacement, restoration and maintenance of
     the Credit Security. If any Obligor fails to provide insurance as required
     by this Agreement, the Agent may, at its option, purchase such insurance,
     and such Obligor will on demand pay to the Agent the amount of any payments
     made by the Agent or the Lenders for such purpose, together with interest
     on the amounts so disbursed from five Banking Days after the date demanded
     until payment in full thereof at the Overdue Reimbursement Rate.

          3.3.7. INTELLECTUAL PROPERTY. Exhibit 7.3 to the Credit Agreement (as
     supplemented from time to time in accordance with sections 6.4.1 and 6.4.2
     of the Credit Agreement) shall set forth the following items as of the
     dates reports are required under such sections (collectively, the
     "INTELLECTUAL PROPERTY"):

          (1) all copyrights owned by the Obligors that are registered with the
     United States Copyright Office (or any office maintaining registration of
     copyrights in any foreign jurisdiction) and all applications for such
     registration and

          (2) all trademarks, tradenames, service marks, service names and
     patents owned by the Obligors that are registered with the United States
     Patent and Trademark Office (or any office maintaining registration of such
     items in any state of the United States of America or any foreign
     jurisdiction) and all applications for such registration.

     The Obligors shall duly authorize, execute and deliver to the Agent
     separate memoranda of security interests provided by the Agent with respect
     to the foregoing Intellectual Property (other than Intellectual Property
     excluded from the Credit Security pursuant to Section 3.2) for filing in
     the offices described above. In the event any additional Intellectual
     Property is registered (or applications therefor are filed) in the offices
     described above, the Obligors shall (at least quarterly, as contemplated by
     sections 6.4.1 and 6.4.2 of the Credit Agreement) notify the Agent and duly
     authorize, execute and deliver to the Agent separate memoranda of security
     interests covering such additional Intellectual Property for filing in such
     offices.

          3.3.8. DEPOSIT ACCOUNTS. Each Obligor shall keep all its bank and
     deposit accounts only with the Agent, other Lenders or the financial
     institutions listed on exhibit 7.3 to the Credit Agreement (as from time to
     time supplemented in accordance with sections 6.4.1 and 6.4.2 of the Credit
     Agreement) or such other financial institutions specified by notice
     actually received by the Agent not less than 10

                                      -14-

<PAGE>   18

     Banking Days prior to the establishment of such bank or deposit account
     with such other financial institution. Each Obligor shall use reasonable
     efforts to cause such financial institutions (other than the Lenders and
     the Agent) to enter into depository agreements with the Agent in form and
     substance reasonably satisfactory to the Agent, in the case of existing
     deposit accounts, by March 31, 2000 and in the case of future deposit
     accounts, within 30 days after such deposit account is established.

          3.3.9. MODIFICATIONS TO CREDIT SECURITY. Except with the prior written
     consent of the Agent, which consent will not be unreasonably withheld, no
     Obligor shall amend or modify, or waive any of its rights under or with
     respect to, any material Accounts, general intangibles, Pledged Securities
     or leases if the effect of such amendment, modification or waiver would be
     to materially reduce the amount of any such items or to materially extend
     the time of payment thereof, to waive any default by any other party
     thereto, or to waive or impair any material remedies of the Obligors or the
     Lenders under or with respect to any such Accounts, general intangibles,
     Pledged Securities or leases, in each case other than consistent with past
     practice in the ordinary course of business and on an arm's-length basis.
     Each Obligor will promptly give the Agent written notice of any request by
     any Person for any material credit or adjustment with respect to any such
     Account, general intangible, Pledged Securities or leases.

          3.3.10. DELIVERY OF DOCUMENTS. Upon the Agent's request, each Obligor
     shall deliver to the Agent, promptly upon such Obligor's receipt thereof,
     copies of any agreements, instruments, documents or invoices comprising or
     relating to the Credit Security. Pending such request, such Obligor shall
     keep such items at its chief executive office and principal place of
     business (as specified pursuant to Section 3.3.4).

          3.3.11. PERFECTION OF CREDIT SECURITY. This Agreement shall create in
     favor of the Agent, for the benefit of the Lenders, a legal, valid and
     enforceable security interest in the Credit Security described herein,
     subject only (in the case of Credit Security other than Pledged Stock) to
     Liens permitted by section 6.8 of the Credit Agreement. In the case of the
     Pledged Stock, when stock certificates representing such Pledged Stock and
     stock powers related thereto duly executed in blank by the relevant Pledgor
     are delivered to the Agent, and in the case of the other Credit Security
     described in this Agreement, when financing statements in appropriate form
     are filed in the jurisdictions specified on exhibit 7.1 to the Credit
     Agreement or when Intellectual Property filings in appropriate form are
     filed in appropriate offices, as set forth in Section 3.3.7, this Agreement
     shall provide a fully perfected, first priority Lien on, and security
     interest in, all right, title and interest of the Obligors in such Credit
     Security, as security for the Credit Obligations, in each case prior and
     superior in right to any other Person (except, in the case of Credit
     Security other than Pledged Stock, Liens permitted by section 6.8 of the
     Credit Agreement). Upon the Agent's reasonable request from time to time,
     the Obligors will execute and deliver, and file

                                      -15-

<PAGE>   19

     and record in the proper filing and recording places, all such instruments,
     including financing statements, collateral assignments of copyrights,
     trademarks and patents, mortgages or deeds of trust and notations on
     certificates of title, and will take all such other action, as the Agent
     deems reasonably necessary for confirming to it the Credit Security or to
     carry out any other purpose of this Agreement or any other Credit Document.

     3.4. ADMINISTRATION OF CREDIT SECURITY. The Credit Security shall be
administered as follows, and if an Event of Default shall have occurred and be
continuing, Section 3.5 shall also apply.

          3.4.1. USE OF CREDIT SECURITY. Until the Agent provides written notice
     to the contrary, each Obligor may use, commingle and dispose of any part of
     the Credit Security in the ordinary course of its business, all subject to
     section 6.11 of the Credit Agreement.

          3.4.2. ACCOUNTS. To the extent specified by prior written notice from
     the Agent after the occurrence and during the continuance of an Event of
     Default, all sums collected or received and all property recovered or
     possessed by any Obligor in connection with any Credit Security shall be
     received and held by such Obligor in trust for and on the Lenders' behalf,
     shall be segregated from the assets and funds of such Obligor, and shall be
     delivered to the Agent for the benefit of the Lenders. Without limiting the
     foregoing, upon the Agent's request after the occurrence and during the
     continuance of an Event of Default, each Obligor shall institute depository
     collateral accounts, lock-box receipts and similar credit procedures
     providing for the direct receipt of payment on Accounts at a separate
     address, the segregation of such proceeds for direct payment to the Agent
     and appropriate notices to Account debtors. Upon the Agent's request after
     the occurrence and during the continuance of an Event of Default, each
     Obligor will cause its accounting books and records to be marked with such
     legends and segregated in such manner as the Agent may specify.

          3.4.3. DISTRIBUTIONS ON PLEDGED SECURITIES.

          (1)  Until an Event of Default shall occur and be continuing, the
     respective Obligors shall be entitled, to the extent permitted by the
     Credit Documents, to receive all Distributions on or with respect to the
     Pledged Securities (other than Distributions constituting additional
     Pledged Securities). All Distributions constituting additional Pledged
     Securities will be retained by the Agent (or if received by any Obligor
     shall be held by such Person in trust and shall be immediately delivered by
     such Person to the Agent in the original form received, endorsed in blank)
     and held by the Agent as part of the Credit Security.

                                      -16-

<PAGE>   20

          (2)  If an Event of Default shall have occurred and be continuing, all
     Distributions on or with respect to the Pledged Securities shall be
     retained by the Agent (or if received by any Obligor shall be held by such
     Person in trust and shall be immediately delivered by it to the Agent in
     the original form received, endorsed in blank) and held by the Agent as
     part of the Credit Security or applied by the Agent to the payment of the
     Credit Obligations in accordance with Section 3.5.6.

          3.4.4. VOTING PLEDGED SECURITIES.

          (1)  Until an Event of Default shall occur and be continuing, the
     respective Obligors shall be entitled to vote or consent with respect to
     the Pledged Securities in any manner not inconsistent with the terms of any
     Credit Document, and the Agent will, if so requested, execute appropriate
     revocable proxies therefor.

          (2)  If an Event of Default shall have occurred and be continuing, if
     and to the extent that the Agent shall so notify in writing the Obligor
     pledging the Pledged Securities in question, only the Agent shall be
     entitled to vote or consent or take any other action with respect to the
     Pledged Securities (and any Obligor will, if so requested, execute
     appropriate proxies therefor).

     3.5. RIGHT TO REALIZE UPON CREDIT SECURITY. Except to the extent prohibited
by applicable law that cannot be waived, this Section 3.5 shall govern the
Lenders' and the Agent's rights to realize upon the Credit Security if any Event
of Default shall have occurred and be continuing. The provisions of this Section
3.5 are in addition to any rights and remedies available at law or in equity and
in addition to the provisions of any other Credit Document. In the case of a
conflict between this Section 3.5 and any other Credit Document, this Section
3.5 shall govern.

          3.5.1. ASSEMBLY OF CREDIT SECURITY; RECEIVER. Each Obligor shall, upon
     the Agent's request, assemble the Credit Security and otherwise make it
     available to the Agent. The Agent may have a receiver appointed for all or
     any portion of the Obligors' assets or business which constitutes the
     Credit Security in order to manage, protect, preserve, sell and otherwise
     dispose of all or any portion of the Credit Security in accordance with the
     terms of the Credit Documents, to continue the operations of the Obligors
     and to collect all revenues and profits therefrom to be applied to the
     payment of the Credit Obligations, including the compensation and expenses
     of such receiver.

          3.5.2. GENERAL AUTHORITY. To the extent specified in written notice
     from the Agent to the Obligor in question, each Obligor grants the Agent
     full and exclusive power and authority, subject to the other terms hereof
     and applicable law, to take any of the following actions (for the sole
     benefit of the Agent on behalf of the Lenders and the holders from time to
     time of any Credit Obligations, but at such Obligor's expense):

                                      -17-

<PAGE>   21

          (1)  To ask for, demand, take, collect, sue for and receive all
     payments in respect of any Accounts, general intangibles, Pledged
     Securities or leases which such Obligor could otherwise ask for, demand,
     take, collect, sue for and receive for its own use.

          (2)  To extend the time of payment of any Accounts, general
     intangibles, Pledged Securities or leases and to make any allowance or
     other adjustment with respect thereto.

          (3)  To settle, compromise, prosecute or defend any action or
     proceeding with respect to any Accounts, general intangibles, Pledged
     Securities or leases and to enforce all rights and remedies thereunder
     which such Obligor could otherwise enforce.

          (4)  To enforce the payment of any Accounts, general intangibles,
     Pledged Securities or leases, either in the name of such Obligor or in its
     own name, and to endorse the name of such Obligor on all checks, drafts,
     money orders and other instruments tendered to or received in payment of
     any Credit Security.

          (5)  To notify the third party payor with respect to any Accounts,
     general intangibles, Pledged Securities or leases of the existence of the
     security interest created hereby and to cause all payments in respect
     thereof thereafter to be made directly to the Agent; PROVIDED, HOWEVER,
     that whether or not the Agent shall have so notified such payor, such
     Obligor will at its expense render all reasonable assistance to the Agent
     in collecting such items and in enforcing claims thereon.

          (6)  To sell, transfer, assign or otherwise deal in or with any Credit
     Security or the proceeds thereof, as fully as such Obligor otherwise could
     do.

          3.5.3. MARSHALING, ETC. Neither the Agent nor the Lenders shall be
     required to make any demand upon, or pursue or exhaust any of their rights
     or remedies against, any Obligor or any other guarantor, pledgor or any
     other Person with respect to the payment of the Credit Obligations or to
     pursue or exhaust any of their rights or remedies with respect to any
     collateral therefor or any direct or indirect guarantee thereof. Neither
     the Agent nor the Lenders shall be required to marshal the Credit Security
     or any guarantee of the Credit Obligations or to resort to the Credit
     Security or any such guarantee in any particular order, and all of its and
     their rights hereunder or under any other Credit Document shall be
     cumulative. To the extent it may lawfully do so, each Obligor absolutely
     and irrevocably waives and relinquishes the benefit and advantage of, and
     covenants not to assert against the Agent or the Lenders, any valuation,
     stay, appraisement, extension, redemption or similar laws now or hereafter
     existing which, but for this provision, might be applicable to the sale of

                                      -18-

<PAGE>   22

     any Credit Security made under the judgment, order or decree of any court,
     or privately under the power of sale conferred by this Agreement, or
     otherwise. Without limiting the generality of the foregoing, each Obligor
     (a) agrees that it will not invoke or utilize any law which might prevent,
     cause a delay in or otherwise impede the enforcement of the rights of the
     Agent or any Lender in the Credit Security and (b) waives its rights under
     all such laws. In addition, each Obligor waives any right to prior notice
     (except to the extent expressly required by this Agreement) or judicial
     hearing in connection with foreclosure on or disposition of any Credit
     Security, including any such right which such Obligor would otherwise have
     under the Constitution of the United States of America, any state or
     territory thereof or any other jurisdiction.

          3.5.4. SALES OF CREDIT SECURITY. All or any part of the Credit
     Security may be sold for cash or other value in any number of lots at
     public or private sale, without demand, advertisement or notice; PROVIDED,
     HOWEVER, that unless the Credit Security to be sold threatens to decline
     speedily in value or is of a type customarily sold on a recognized market,
     the Agent shall give the Obligor granting the security interest in such
     Credit Security 10 days' prior written notice of the time and place of any
     public sale, or the time after which a private sale may be made, which
     notice each of the Obligors and the Agent agrees to be reasonable. At any
     sale or sales of Credit Security, any Lender or any of its respective
     officers acting on its behalf, or such Lender's assigns, may bid for and
     purchase all or any part of the property and rights so sold, may use all or
     any portion of the Credit Obligations owed to such Lender as payment for
     the property or rights so purchased, and upon compliance with the terms of
     such sale may hold and dispose of such property and rights without further
     accountability to the respective Obligors, except for the proceeds of such
     sale or sales pursuant to Section 3.5.6. The Obligors acknowledge that any
     such sale will be made by the Agent on an "as is" basis with disclaimers of
     all warranties, whether express or implied. The respective Obligors will
     execute and deliver or cause to be executed and delivered such instruments,
     documents, assignments, waivers, certificates and affidavits, will supply
     or cause to be supplied such further information and will take such further
     action, as the Agent shall reasonably request in connection with any such
     sale.

          3.5.5. SALE WITHOUT REGISTRATION. If, at any time when the Agent shall
     determine to exercise its rights hereunder to sell all or part of the
     securities included in the Credit Security, the securities in question
     shall not be effectively registered under the Securities Act (or other
     applicable law), the Agent may, in its sole discretion, sell such
     securities by private or other sale not requiring such registration in such
     manner and in such circumstances as the Agent may deem necessary or
     advisable in order that such sale may be effected in accordance with
     applicable securities laws without such registration and the related
     delays, uncertainty and expense. Without limiting the generality of the
     foregoing, in any event the Agent may, in its sole discretion, (a)

                                      -19-

<PAGE>   23

     approach and negotiate with a single purchaser or one or more possible
     purchasers to effect such sale, (b) restrict such sale to one or more
     purchasers each of whom will represent and agree that such purchaser is
     purchasing for its own account, for investment and not with a view to the
     distribution or sale of such securities and (c) cause to be placed on
     certificates representing the securities in question a legend to the effect
     that such securities have not been registered under the Securities Act (or
     other applicable law) and may not be disposed of in violation of the
     provisions thereof. Each Obligor agrees that such manner of disposition is
     commercially reasonable, that it will upon the Agent's request give any
     such purchaser access to such information regarding the issuer of the
     securities in question as the Agent may reasonably request and that the
     Agent and the Lenders shall not incur any responsibility for selling all or
     part of the securities included in the Credit Security at any private or
     other sale not requiring such registration, notwithstanding the possibility
     that a substantially higher price might be realized if the sale were
     deferred until after registration under the Securities Act (or other
     applicable law) or until made in compliance with certain other rules or
     exemptions from the registration provisions under the Securities Act (or
     other applicable law). Each Obligor acknowledges that no adequate remedy at
     law exists for breach by it of this Section 3.5.5 and that such breach
     would not be adequately compensable in damages and therefore agrees that
     this Section 3.5.5 may be specifically enforced.

          3.5.6. APPLICATION OF PROCEEDS. The proceeds of all sales and
     collections in respect of any Credit Security or other assets of any
     Obligor, all funds collected from the Obligors and any cash contained in
     the Credit Security, the application of which is not otherwise specifically
     provided for herein, shall be applied as follows:

          (1)  First, to the payment of the costs and expenses of such sales and
     collections, the reasonable expenses of the Agent and the reasonable fees
     and expenses of its special counsel;

          (2)  Second, any surplus then remaining to the payment of the Credit
     Obligations in such order and manner as the Agent may in its reasonable
     discretion determine; PROVIDED, HOWEVER, that any such payment shall be
     distributed to the Lenders in accordance with the Credit Agreement and the
     other Credit Documents; and

          (3)  Third, any surplus then remaining shall be paid to the Obligors,
     or as otherwise provided in the UCC.

     3.6. CUSTODY OF CREDIT SECURITY. Except as provided by applicable law that
cannot be waived, the Agent will have no duty as to the custody and protection
of the Credit Security, the collection of any part thereof or of any income
thereon or the preservation or exercise of

                                      -20-

<PAGE>   24

any rights pertaining thereto, including rights against prior parties, except
for the use of reasonable care in the custody and physical preservation of any
Credit Security in its possession. The Lenders will not be liable or responsible
for any loss or damage to any Credit Security, or for any diminution in the
value thereof, by reason of the act or omission of any agent selected by the
Agent acting in good faith.

     4.   GENERAL. Addresses for notices, consent to jurisdiction, jury trial
waiver, defeasance and numerous other provisions applicable to this Agreement
are contained in the Credit Agreement. The invalidity or unenforceability of any
provision hereof shall not affect the validity or enforceability of any other
provision hereof, and any invalid or unenforceable provision shall be modified
so as to be enforceable to the maximum extent of its validity or enforceability.
The headings in this Agreement are for convenience of reference only and shall
not limit, alter or otherwise affect the meaning hereof. This Agreement and the
other Credit Documents constitute the entire understanding of the parties with
respect to the subject matter hereof and thereof and supersede all prior and
current understandings and agreements, whether written or oral. This Agreement
is a Credit Document and may be executed in any number of counterparts, which
together shall constitute one instrument. This Agreement shall be governed by
and construed in accordance with the laws (other than the conflict of laws
rules) of the Commonwealth of Massachusetts, except as may be required by the
UCC of other jurisdictions with respect to matters involving the perfection of
the Agent's Lien on the Credit Security located in such other jurisdictions.

                                      -21-
<PAGE>   25

     Each of the undersigned has caused this Agreement to be executed and
delivered by its duly authorized officer as an agreement under seal as of the
date first written above.

                              NEXTERA ENTERPRISES, INC.

                              By: ______________________________________
                                  Name:
                                  Title:

                              CE ACQUISITION CORP.
                              CRITIAS, INC.
                              ERG ACQUISITION CORP.
                              LEXECON INC.
                              NEONEXT LLC
                              NETNEXT, INC.
                              NEXTERA BUSINESS PERFORMANCE
                                  SOLUTIONS GROUP, INC.
                              NEXTERA INTERACTIVE, INC.
                              THE PLANNING TECHNOLOGIES
                                  GROUP, L.L.C.
                              PYRAMID IMAGING, INC.
                              SCANADA, INC.
                              SIBSON & COMPANY, LLC
                              SIBSON INTERNATIONAL, LLC
                              TIMAEUS, INC.

                              By: _____________________________________________
                                  As an authorized officer of each of the
                                  foregoing corporations and limited liability
                                  companies

                              BANKBOSTON, N.A.,
                                 as Agent under the Credit Agreement

                              By: ______________________________________
                                  Name:
                                  Title:<PAGE>   1
                                                                   EXHIBIT 10.48

                        SEPARATION AND RELEASE AGREEMENT

      This Separation and Release Agreement ("Agreement") is entered into as
of November 15, 1999 by and between Nextera Enterprises, Inc., a Delaware
corporation ("Nextera") and Gresham T. Brebach, Jr. (the "Executive").

                                    RECITALS

      WHEREAS, Executive was employed by Nextera as President and Chief
Executive Officer pursuant to a written employment agreement between Executive
and Education Technology Consulting Holding, L.L.C. effective as of March 3,
1997 (the "Employment Agreement") until he was terminated by Nextera without
cause effective October 28, 1999 (the "Termination Date"); and

      WHEREAS, Executive continues to serve on the Board of Directors of
Nextera and as a  director of Nextera's subsidiaries; and

      WHEREAS, Executive wishes voluntarily to resign from the Board of
Directors of Nextera, and from his other director positions with Nextera's
subsidiaries; and

      WHEREAS, Nextera and Executive (together, "the Parties") mutually desire
fully and finally to settle any and all disputes arising from the termination of
Executive's employment;

                                    AGREEMENT

      NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth herein and other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the Parties hereby agree as follows:

         1. Separation Payments and Benefits.

            a. Pursuant to Section 13.3 of the Employment Agreement, Nextera
will pay to the Executive his current base salary, on Nextera's normal payroll
schedule, and subject to all applicable withholding, through March 3, 2000 (the
"End of the Employment Term"). Nextera will pay Executive for any accrued,
unused vacation through the Termination Date.

            b. Nextera shall reimburse Executive for any business expenses
incurred prior to the Termination Date to which Executive is entitled to
reimbursement under Section 9 of the Employment Agreement, including without
limitation such expenses related to planning the Nextera Christmas party.

            c. Executive acknowledges and agrees that he is not entitled to the
guaranteed bonus described in Section 7.2 of the Employment Agreement subsequent
to the Termination Date, and that excepting his vacation pay and
post-Termination Date base salary referred to in subparagraph 1(a), and
unreimbursed expenses (if any) referred to in subparagraph 1(b), as of the date
of this Agreement he has received all monies, bonuses, commissions, and other
compensation or perquisites he earned or was due during his employment by
Nextera.

            d. Nextera will pay the full cost for maintaining (i) the
Executive's existing life insurance coverage, and (ii) existing group medical
and dental coverage through COBRA for Executive and his eligible dependents
(except to the extent any one or more of such plans may be modified by Nextera
for its employees generally) through the earlier to occur of (x) the End of the
Employment Term or (y) the date upon which the Executive has commenced full time
employment with another employer and has qualified for comparable coverage under
the benefit plans of such employer.
<PAGE>   2
            e. Except as expressly provided for in this Agreement, Executive's
entitlement to benefits from Nextera, and eligibility to participate in
Nextera's benefit plans, shall cease on the End of the Employment Term, except
to the extent that the Executive has conversion or continuation rights pursuant
to the relevant plan documents or is eligible to and chooses to continue his
medical and dental coverage at his expense pursuant to COBRA.

         2. Additional Payments and Benefits.

            Executive acknowledges and agrees that his execution of this
Agreement and the expiration of the revocation period set forth in paragraph 6
below are conditions precedent to his entitlement to receive the additional
payments and benefits described below:

            a. Nextera will pay to the Executive a bonus in the amount of
$94,000, in lieu of any bonus compensation to which the Executive would have
been entitled had the Executive continued to be employed by Nextera through
December 31, 1999 pursuant to Section 7.3 of the Employment Agreement; such
bonus shall be paid within five (5) days of the expiration of the revocation
period set forth in paragraph 6 below.

            b. Nextera will promptly reimburse Executive for carrying costs not
to exceed $6,000 per month on Executive's Beverly Hills, California condominium
(the "Condo") for 120 days after the Termination Date or until Executive closes
escrow on the sale of the Condo, whichever occurs first. Executive shall use his
best efforts to list and sell the Condo as promptly as reasonably practicable.
Upon close of escrow, Nextera will reimburse Executive for brokerage commissions
for such sale not exceeding six percent (6%) of the purchase price. Any net
proceeds of such sale shall belong to Executive.

            c. Nextera will use its best efforts promptly to amend the
Stockholders Agreement dated August 31, 1998, as amended, and any other
applicable agreements, to permit Executive's transfer or sale of his Nextera
shares; provided, however, that Executive shall remain subject to the IPO lockup
restrictions to the extent applicable.

            d. Executive's indebtedness to Nextera in the current amount of
approximately $358,134, as evidenced in the Note dated January 2, 1998 shall be
deemed repaid and Executive hereby relinquishes all his rights and interest
under any and all Debentures issued by Nextera with an original maturity date of
May 1, 2002.

            e. Executive shall be allowed to keep up to two (2) laptop computers
furnished by and belonging to Nextera. Executive shall promptly return all other
office equipment or other property purchased by Nextera for his use.

            f. Nextera will use its best efforts to transfer Executive's
existing disability insurance policy to Executive at Executive's sole expense.

         3. Resignation from Board of Directors.

            Effective as of the date of this Agreement, Executive hereby resigns
from the Board of Directors of Nextera and from all other director positions
held by the Executive with Nextera or any of its subsidiaries. Executive agrees
to execute any documentation necessary to effectuate such resignations, provided
that such documentation is reasonably acceptable to the Parties.

         4. Release of Claims.

            a. By Executive. In consideration for Nextera's agreement to provide
the additional payments and benefits set forth in paragraph 2, the adequacy of
which is hereby acknowledged, Executive, on behalf of himself and his heirs,
executors, administrators, successors, agents, and assigns, agrees to release
fully and without limitation and forever discharge Nextera and each of its
respective shareholders, parents, owners, subsidiaries, divisions, officers,
directors, agents, employees, consultants, insurers, representatives, lawyers,
affiliates, predecessors, successors and assigns, employee welfare benefit plans
and pension, profit-sharing or deferred compensation plans under Section 401 of
the Internal Revenue Code of 1986, as amended, and their trustees,
<PAGE>   3
administrators and other fiduciaries, and all persons acting by, through, under
or in concert with them, or any of them ("Releasees"), both individually and
collectively, from any and all rights, claims, demands, liabilities, actions,
causes of action, damages, losses, costs, expenses and compensation, of whatever
nature whatsoever, known or unknown, fixed or contingent, in law or in equity
("Claims"), which Executive may have, or now claim to have against, or in the
future claim from the Releasees by reason of any matter, cause, or thing
whatsoever, from the beginning of time to the date hereof, including, without
limiting the generality of the foregoing, any Claims arising out of, based upon,
or relating to Executive's recruitment, hire, employment, benefits, remuneration
(including salary; bonus; incentive or other compensation; vacation, sick leave
or medical insurance benefits; and/or benefits from any employee stock
ownership, stock option, pension, profit-sharing and/or any deferred
compensation plan under Section 401 of the Internal Revenue Code of 1986, as
amended) or separation by Nextera, or any contract, agreement, or compensation
arrangement between Executive and the Releasees, or any of them, including
without limitation the Employment Agreement. Without limiting the generality of
the foregoing, the Parties acknowledge and agree that the Employment Agreement
shall be of no further force and effect after the date hereof, and that
Executive shall not be entitled to any salary, bonus compensation or other
benefits under the Employment Agreement except as expressly set forth in
paragraphs 1 and 2 of this Agreement.

            As part of this Agreement, Executive expressly waives any Claims
arising out of any federal, state or other governmental statute, regulation or
ordinance, including, without limitations: (1) Title VII of the Civil Rights Act
of 1964, as amended; (2) the Equal Pay Act, as amended; (3) the Age
Discrimination in Employment Act, as amended; (4) the Family and Medical Leave
Act of 1993; (5) the California Fair Employment and Housing Act of 1993, as
amended; (6) the California Labor Code (including but not limited to Section
970); (7) the Fair Labor Standards Act, as amended; (8) the federal and state
wage and hour laws; (9) the Americans With Disabilities Act, as amended; (10)
the Employee Retirement Income Security Act of 1974, as amended; (11) the
California Family Rights Act; (12) the Worker Adjustment and Retraining
Notification Act; (13) the California common law of fraud, misrepresentation,
negligence, defamation, infliction of emotional distress, breach of contract, or
wrongful termination; (14) Executive Order 11246; (15) Executive Order 11141;
(16) the Rehabilitation Act of 1973, including sections 503 and 504; and/or (17)
any other local, state or federal law, rule, or regulation governing employment,
discrimination in employment or the payment of wages and benefits. This
Agreement does not include waiver of (1) any rights or Claims which may arise
after the date hereof, (2) any rights or Claims arising from breach of this
Agreement, and (3) Executive's right to indemnification as an officer or
director of Nextera, as determined by applicable law.

            Notwithstanding anything to the contrary contained in this
Agreement, Executive shall retain any vested benefits to which Executive may be
entitled under Nextera's 401k Retirement Savings Plan as of the Termination
Date.

            This Agreement shall not affect Executive's ownership of or rights
in shares of common stock of Nextera or Knowledge Universe, L.L.C. (or its
subsidiaries and affiliates) as to which Executive was the holder of record (or
an option holder) on the Termination Date; provided, however, that Executive
relinquishes and waives his right to purchase any equity interest in Nextera or
its predecessors pursuant to Section 7.4 of the Employment Agreement.

            b. By Nextera. Nextera, on behalf of itself and its successors,
shareholders, subsidiaries, corporate affiliates, agents, and assigns agrees to
release fully and without limitation and forever discharge Executive and his
heirs, executors, administrators, successors, agents, and assigns, from any and
all rights, claims, demands, liabilities, actions, causes of action, damages,
losses, costs, expenses and compensation, of whatever nature whatsoever, fixed
or contingent, in law or in equity, that are known to the Board of Directors of
Nextera (other than Executive) as of the effective date of this Agreement. The
claims released herein include, without limiting the generality of the
foregoing, any claims arising out of, based upon, or relating to Executive's
recruitment, hire, employment, benefits, remuneration or separation by Nextera,
or any contract, agreement, or compensation arrangement between Executive and
the Releasees, or any of them, including without limitation the Employment
Agreement.
<PAGE>   4
         5. Knowing and Voluntary Waiver of Unknown Claims by Executive.

         Executive understands that California law includes Civil Code Section
1542 which says that releases usually do not apply to certain unknown claims.
Specifically, Section 1542 of the California Civil Code states as follows:

            "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES
            NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING
            THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS
            SETTLEMENT WITH THE DEBTOR."

With full awareness and understanding of the above provisions, Executive hereby
waives any rights he may have under Section 1542, as well as under any other
statutes or common law principles of similar effect. Executive intends to, and
hereby does, release Releasees from claims which he does not presently know or
suspect to exist at this time.

         6. Older Workers Benefit Protection Act.

         In accordance with the Older Workers Benefit Protection Act of 1990,
Executive acknowledges that:

            a. This Agreement includes a waiver and release of Executive's
claims under the Age Discrimination in Employment Act, 29 U.S.C. Section 621 et
seq.

            b. Executive has the right to consult with an attorney before
signing this Agreement.

            c. Executive has twenty-one (21) days from November 15, 1999 to
consider this Agreement but he may waive that period by signing it earlier.

            d. Executive has seven (7) days after signing this Agreement to
revoke this Agreement and with the exception of paragraph 3 this Agreement will
not be effective until that revocation period has expired. Written notice of
revocation must be delivered in person to Nextera Enterprises, Inc., c/o Richard
V. Sandler, Maron & Sandler, 844 Moraga Drive, Los Angeles, CA 90049. If
Executive revokes this Agreement, Executive will not receive the payments and
benefits described in paragraph 2 of this Agreement.

         7. Cooperation.

            a. Until the End of the Employment Term and for a period of two (2)
years thereafter, Executive agrees to cooperate fully with Nextera (including
its Board of Directors and any special committees of the Board) and its counsel
or accountants in any financial audits or internal investigation involving
securities, financial or accounting matters, and in its defense, assertion,
prosecution, or other participation in, any administrative, judicial, or other
proceeding, claim, or dispute relating to the period during which Executive was
engaged in employment with Nextera. Any such activities shall be scheduled, to
the extent reasonably possible, to accommodate Executive's business and personal
obligations at the time. Nextera shall pay Executive's reasonable travel and
incidental out-of-pocket expenses incurred in connection with any such
cooperation, provided such expenses are documented and approved in advance.
Except as otherwise required by applicable law or regulation, Executive further
agrees not to disparage or otherwise publish or communicate negative statements
or opinions about Nextera, its officers, directors, shareholders, parents,
subsidiaries or affiliates in any way. Except as required by law or authorized
in advance by the Board of Directors, Executive shall not communicate, directly
or indirectly, with shareholders of Nextera or their representatives concerning
the management of Nextera, the operations of Nextera, or the financial status of
Nextera. Executive shall take no action detrimental to the interests of Nextera
or its management.

            b. Except as otherwise required by applicable law or regulation,
Nextera will not disparage or otherwise publish or communicate negative
statements about Executive to any third person. Nextera will not make any
derogatory statements about Executive to any prospective employer.
<PAGE>   5
         8. Indemnification.

         Nextera shall, to the maximum extent permitted by law, indemnify,
defend, and hold Executive harmless for all claims, demands, losses, costs,
expenses, obligations, liabilities, damages, recoveries, and deficiencies,
including reasonable attorneys' fees, that Executive shall incur or suffer that
arise from, result from, or relate to the discharge of Executive's duties under
the Employment Agreement or as a consultant under this Agreement, except to the
extent that Executive has acted in bad faith or shall be guilty of willful
misconduct, fraud, gross negligence or a wrongful taking.

         9. Non-Admission of Liability.

         Executive and Nextera agree that neither the payment of any sum of
money nor the execution of this Agreement shall constitute or be construed as an
admission of any liability by either Executive of Nextera.

         10. Encouragement to Consult with Attorney; Tax Consequences.

         Executive has the right to consult with an attorney and is encouraged
to do so before signing this Agreement. Executive understands that whether or
not to do so is Executive's decision and if it is done, it is done at
Executive's expense. Executive further acknowledges that the benefits provided
in this Agreement may have tax consequences, that Nextera has not provided any
tax advice, and that Executive is free to consult with an accountant, legal
counsel, or other tax advisor regarding the tax consequences.

         11. Confidential Arbitration.

         The Parties agree that any and all disputes, controversies or claims
based on, arising out of, or relating to this Agreement, or the alleged breach
thereof, shall be submitted to final and binding arbitration. Such arbitration
proceeding shall be conducted confidentially and under seal. The arbitration
shall take place in the county of Los Angeles, and may be compelled and enforced
according to the California Arbitration Act (Code of Civil Procedure
Sections 1280 et seq.). Unless the Parties mutually agree otherwise, the
arbitration shall be conducted before the American Arbitration Association,
according to its Employment Dispute Resolution Rules. Judgment on the award the
arbitrator renders may be entered in any court having jurisdiction over the
Parties. Arbitration shall be initiated in accordance with the Employment
Dispute Resolution Rules of the American Arbitration Association.

         12. Proprietary Information and Return of Documents.

         Upon the Separation Date, Executive shall promptly return to Nextera
the original and all copies of all accounts, notes, data, sketches, drawings,
reports, studies and other documents and records, materials and physical items
of any kind, which are the property of Nextera or which relate in any way to the
business, products, practices or techniques of Nextera. Executive further agrees
that he will not disclose to any person or use for his own account any such
information, observations or data, or Nextera's trade secrets, including without
limitation information relating to intellectual property, patents, trademarks,
trade secrets, supplier lists, customer lists, pricing or cost data, bidding
procedures, marketing studies, business plans, sales projections, product
research and development, strategic plans, consultant reports, customer surveys,
financing techniques and sources, and non-public financial information, without
the prior written consent of the Board of Directors, Chairman, or Chief
Executive Officer of Nextera. Executive shall hold all such information in trust
and confidence for Nextera and shall not use or disclose any such information,
and shall be liable for damages incurred by Nextera as a result of any
disclosure of such information by Executive. Executive acknowledges that any
unauthorized use or misuse of the above described confidential, proprietary or
trade secret information will cause irreparable harm to Nextera and will give
rise to an immediate action by Nextera for injunctive relief.

         13. Non-Solicitation.

            a. Until the End of the Employment Term and for a period of two (2)
years thereafter, Executive agrees that he will not directly or indirectly
(whether as an employee, director, owner, stockholder, consultant, limited or
general partner, or otherwise), for himself or for any other person or entity:
(i) solicit, induce or entice, or
<PAGE>   6
attempt to solicit, induce, or entice, any person who is (or was within the
prior ninety (90) days) an employee of Nextera to terminate such employment
relationship or to become employed by any other person, firm or entity; or (ii)
solicit, induce or entice, or attempt to solicit, induce, or entice, any
customer of Nextera to purchase from another person or entity products or
services of the type then marketed by Nextera.

                  b. Executive acknowledges that any unauthorized solicitation
or diversion of Nextera's employees or customers in violation of paragraph 13 of
this Agreement will result in irreparable harm to Nextera and will give rise to
an immediate action by Nextera for injunctive relief.

         14. No Adequate Remedy at Law.

            a. Equitable Relief. In the event that Executive shall breach any of
the provisions of paragraphs 12 or 13 hereof, or in the event that any such
breach is threatened by Executive, in addition to and without limiting or
waiving any other remedies available to Nextera in law or in equity, Nextera
shall be entitled to immediate injunctive relief in any court, domestic or
foreign, having the capacity to grant such relief, to restrain such breach or
threatened breach and to enforce the provisions of such paragraphs. Executive
acknowledges that it is impossible to measure in money the damages that Nextera
will sustain in the event that Executive breaches or threatens to breach any of
the provisions of such paragraphs and, in the event that Nextera shall institute
any action or proceeding to enforce those provisions seeking injunctive relief,
Executive hereby waives and agrees not to assert and shall not use as a defense
thereto the claim or defense that Nextera has an adequate remedy at law. The
foregoing shall not prejudice the right of Nextera to require Executive to
account for and pay over to it the amount of any actual damages incurred by
Nextera as a result of any such breach.

            b. Enforcement. The Parties acknowledge that (i) the provisions of
paragraphs 12 and 13 are essential to protect the business, goodwill, and trade
secrets of Nextera, and (ii) the foregoing restrictions are under all of the
circumstances reasonable and necessary for the protection of Nextera and its
business. If, however, at the time of enforcement of any or such paragraphs or
any other provision of this Agreement, a court or arbitrator shall hold that the
duration, scope or area restriction or any other provision hereof is
unreasonable under circumstances now or then existing, the Parties hereto agree
that the maximum duration, scope or area reasonable under the circumstances
shall be substituted for the stated duration, scope or area.

         15. Miscellaneous Provisions.

            a. This Agreement shall be interpreted as a whole in accordance with
its fair meaning and in accordance with the laws of the State of California. The
language in the Agreement shall not be construed for or against any particular
party.

            b. If any party to this Agreement brings an action to enforce his or
its rights hereunder, the prevailing party shall be entitled to recover his or
its costs and expenses, including court costs and attorneys' fees, if any,
incurred in connection with such suit.

            c. If Executive willfully breaches his obligations under this
Agreement, including without limitation the obligations set forth in paragraphs
12 and 13, Nextera, in addition to its other rights and remedies, shall be
permitted to discontinue any payments or benefits otherwise due Executive, and
Executive shall forfeit his right to any additional payments or benefits
pursuant to paragraph 2.

         16. Notices.

         Any notice, consent, waiver, demand, or other communication required or
permitted to be given by or to any person pursuant to this Agreement
(collectively "Notice") will be in writing, and will be given either by personal
service, facsimile transmission, by certified mail, return receipt requested, or
by Federal Express or similar commercial overnight courier service, to a party
at the address set forth below:

         If to Nextera:
<PAGE>   7
            Nextera Enterprises, Inc.
            844 Moraga Drive
            Los Angeles, CA 90049
            Attention: Steve Fink

         With a copy to:

            Richard V. Sandler
            Maron & Sandler
            844 Moraga Drive
            Los Angeles, CA 90049

            and

            Mark S. Pulliam
            Latham & Watkins
            701 B Street, Suite 2100
            San Diego, CA 92101

         If to Executive:

            Gresham T. Brebach, Jr.
            400 Ocean Avenue
            Marblehead, MA 01945

         In the case of personal service, Notice will be deemed effective on the
date of service. In all other cases, Notice will be deemed effective on the date
of delivery, as shown on the return receipt or other written evidence of
delivery, if any, or five (5) days after dispatch if there is not return receipt
or written evidence of delivery. A party may change the address at which Notice
is to be given, at any time and from time to time, by giving Notice of the new
address to the other parties in accordance with this Section.

         17. Severability.

         The provisions of this Agreement are severable. If any part of this
Agreement is found to be invalid or unenforceable, the other provisions shall
remain fully valid and enforceable.

         18. Entire Agreement.

         This Agreement sets forth the entire agreement between Executive and
Nextera, and except as expressly set forth in this Agreement supersedes the
Employment Agreement and any and all prior oral or written arrangements or
understandings between Employee and Nextera concerning the subject matter of
this Agreement. This Agreement may not be altered, amended, or modified, except
by a further writing signed by Executive and the newly-appointed Chairman of the
Board, or the successor thereto, of Nextera.

         19. Executive Acknowledgments.

            a. Executive acknowledges and agrees that he has read this Agreement
carefully, understands all of its terms, and agrees to those terms voluntarily.

            b. EXECUTIVE ACKNOWLEDGES AND UNDERSTANDS THAT THIS AGREEMENT
INCLUDES A GENERAL RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

            IN WITNESS WHEREOF, the Parties have executed this Agreement on the
dates indicated below.
<PAGE>   8
EXECUTIVE                                    NEXTERA ENTERPRISES, INC.

/s/GRESHAM T. BREBACH, JR.                   /s/STEVEN B. FINK
-------------------------------------        -----------------------------------
Gresham T. Brebach, Jr.                      Name: Steven B. Fink
Dated:  November 30, 1999                    Title: Chief Executive Officer
                                             Dated:  November 29, 1999

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}]]