Document:

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                                                                    EXHIBIT 10.5

                            SUBORDINATION AGREEMENT

                                    BETWEEN

                          ORIX CREDIT ALLIANCE, INC.,

                                  AS SERVICER

                                      AND

                 ORIX CREDIT ALLIANCE RECEIVABLES TRUST 2000-B,

                                   AS ISSUER

                          DATED AS OF AUGUST __, 2000

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                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                   Page
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<S>                                                                             <C>
1.      Subordination of Security Interests...........................................1

2.      Governing Law.................................................................2

3.      Term of Agreement.............................................................2

4.      Notices.......................................................................2

5.      Binding Effect................................................................2

6.      Limitation of Liability.......................................................2
</TABLE>

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                             SUBORDINATION AGREEMENT

               Subordination Agreement, dated as of August __, 2000, between
ORIX CREDIT ALLIANCE, INC., a New York corporation ("OCAI" or the "Servicer")
and ORIX CREDIT ALLIANCE RECEIVABLES TRUST 2000-B, a Delaware business trust
(the "Issuer").

               WHEREAS, OCAI and the Issuer have entered into a Transfer and
Servicing Agreement, dated as of August __, 2000 (the "Agreement"), among OCAI,
the Issuer, The Bank of New York (the "Indenture Trustee") and ORIX Credit
Alliance Receivables 2000-B Corporation (the "Trust Depositor") (the capitalized
terms defined therein being used herein with the same meaning as set forth
therein); and

               WHEREAS, pursuant to the Agreement, the Trust Depositor has
assigned to the Issuer certain Contracts secured by Financed Items and other
collateral of the Obligors (together, the "Collateral"); and

               WHEREAS, OCAI in the ordinary course of its equipment finance
business may, subsequent to entering into such Contracts, enter into additional
financing agreements with Obligors and pursuant thereto take a security interest
in the additional financed equipment ("Subsequently Financed Items"); and

               WHEREAS, the contracts resulting from such additional financing
agreements with Obligors may provide that in addition to the Subsequently
Financed Items, the Obligor grant OCAI a security interest in other equipment
owned by the Obligor, which could include the Collateral as well as the
Subsequently Financed Items; and

               WHEREAS, certain of the Contracts assigned to the Issuer by the
Trust Depositor may include Obligors entering into such additional financing
agreements with OCAI which could be secured by Collateral and Subsequently
Financed Items; and

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

               1.     SUBORDINATION OF SECURITY INTERESTS. OCAI's security
interests in the Collateral (other than the Subsequently Financed Items) shall
be and hereby are made junior in priority to all security interests of the
Issuer in such Collateral; the Issuer's security interests in the Subsequently
Financed Items shall be and hereby are made junior in priority to the security
interests of OCAI in such Collateral; provided, however, that the security
interests of OCAI and the Issuer in the Collateral other than the Financed

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Items or the Subsequently Financed Items shall be pari passu in right of payment
and equivalent in priority in proportion to the amounts owed by the Obligor if
and for so long as the value of the Financed Items securing a Contract shall be
determined, in accordance with OCAI's normal valuation procedures, to exceed at
least 120% of the Principal Balance of the Contract owned by the Issuer.

               2.     GOVERNING LAW. This Subordination Agreement shall be
governed by, and construed in accordance with, the laws of the State of New
York.

               3.     TERM OF AGREEMENT. This Agreement shall continue in force
until all amounts due and payable with respect to the Contracts have been paid
in full, upon which event this Agreement shall automatically terminate. The
priorities specified herein are applicable irrespective of the time or order of
attachment or perfection of security interests or the time or order of filing of
financing statements or the giving or failure to give notice of the acquisition
or expected acquisition of purchase money or other security interests. Except as
herein specifically provided, priority shall be determined in accordance with
applicable law.

               4.     NOTICES. All demands, notices and communications hereunder
shall be in writing, personally delivered or mailed by certified mail-return
receipt requested, and shall be deemed to have been duly given upon receipt (a)
in the case of OCAI, at the following address: ORIX Credit Alliance, Inc., 300
Lighting Way, Secaucus, New Jersey 07096, Attn: Executive Vice
President-Finance, (b) in the case of the Issuer, at the following address: c/o
Bank of New York (Delaware), 502 White Clay Center, P.O. Box 6973, Newark,
Delaware 19714-6973, Attn: Corporate Trust Administration, or at such other
address as shall be designated by such party in a written notice to the other
party.

               5.     BINDING EFFECT. This Subordination Agreement shall be
binding upon and shall inure to the benefit of OCAI and the Issuer and their
respective successors and assigns.

               6.     LIMITATION OF LIABILITY. The Bank of New York (Delaware)
acts on behalf of the Issuer solely as Owner Trustee hereunder and not in its
individual capacity, and all Persons having any claim against the Trust by
reason of the transactions contemplated by this agreement or any other
Transaction Document shall look only to the Trust Estate under the Trust
Agreement for payment or satisfaction thereof. The Owner Trustee makes no
representations as to the validity or sufficiency of this agreement, any other
Transaction Document or the Notes, or of any Contract or related documents. The
Owner Trustee shall at no time have any responsibility or liability for or with
respect to the legality, validity and enforceability of any Contract, or the
perfection and priority of

                                      -4-
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any security interest created by any Contract in any Equipment or the
maintenance of any such perfection and priority, or for or with respect to the
sufficiency of the Trust Estate under the Trust Agreement or its ability to
generate the payments to be distributed to the Certificateholder under the Trust
Agreement or the Noteholders under the Indenture, including, without limitation,
the existence, condition and ownership of any Equipment; the existence and
enforceability of any insurance thereon; the existence and contents of any
Contract on any computer or other record thereof; the validity of the assignment
of any Contract to the Trust or of any intervening assignment; the completeness
of any Contract; the performance or enforcement of any Contract; the compliance
by the Issuer, the Trust Depositor or the Servicer with any covenant, agreement
or other obligation or any warranty or representation made under any Transaction
Document or in any related document or the accuracy of any such warranty or
representation; or any action of the Administrator, the Indenture Trustee or the
Servicer or any subservicer taken in the name of the Owner Trustee or the
Issuer.

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               IN WITNESS WHEREOF, each of the parties hereto has caused this
Subordination Agreement to be executed in its name and on its behalf by a duly
authorized officer as of the day and year first above written.

                                        ORIX CREDIT ALLIANCE, INC.,

                                        By:

                                           Name:  Joseph J. McDevitt, Jr.
                                           Title: Executive Vice President

                                        ORIX CREDIT ALLIANCE RECEIVABLES
                                        TRUST 2000-B

                                        By THE BANK OF NEW YORK (DELAWARE), not
                                        in its individual capacity but solely as
                                        Owner Trustee,

                                        By:

                                           Name:
                                           Title:<PAGE>   1
                                                                    Exhibit 10.1

                              EMPLOYMENT AGREEMENT

This Employment Agreement is entered into between MetaCreations Corporation, a
Delaware Corporation with its principal office at 6303 Carpinteria Avenue,
Carpinteria, CA 93013 ("MetaCreations"), Metastream Corporation, a Delaware
Corporation with its principal offices at 498 Seventh Avenue, New York, New York
07078 (collectively, "the Companies"), and Robert E. Rice ("Executive").

Whereas:

Executive has previously served as an officer of MetaCreations pursuant to an
employment agreement expired on December 30, 1999, and

The Companies desire to retain Executive's services as Chief Executive Officer
and President, and Executive desires to be retained by Company to provide such
services,

Now therefore the parties agree as follows:

1. Employment: Upon the terms and conditions hereof, Meastream and MetaCreations
hereby retain Executive as Chief Executive Officer and President, and Executive
agrees to so serve. Executive shall dedicate his full working time and attention
to his duties hereunder and shall perform such services at the Companies'
headquarters in New York City.

2. Term of Employment: Executive's employment hereunder shall commence on
January 1, 2000 and terminate on December 31, 2001, unless terminated earlier
pursuant to Section 2 hereof (the "Term of Employment").

3. Compensation and other benefits: The Companies shall pay the following
compensation, and provide the following benefits, to Executive during the Term
of Employment:

     (a)  Base Salary. Executive shall receive a base salary of $275,000 per
          annum, payable in approximately equal installments in accordance with
          the customary payroll practices of the Companies. If the rate of base
          salary per annum paid to Executive is increased during the Term of
          Employment, such increased rate shall thereafter constitute the Base
          Salary for all purposes of this Agreement.

     (b)  Options. Executive shall be grated options to acquire 250,000 of
          Metastream shares pursuant to the existing Metastream option plan. The
          effective date of such grant shall be January 1, 2000 and the exercise
          price therefore shall be at $3 per share. Such options shall be in
          addition to those previously granted Executive in his capacity as
          Founder to acquire 750,000 shares of Metastream stock at $1 per share,
          which grant had an effective date of July 1, 1999.

     (c)  Life Insurance. During the Term of Employment, the Companies shall
          reimburse Executive for the cost of acquiring a term life insurance
          policy with a death benefit of $1,000,000 payable to members of
          Executive's immediate family.

     (d)  Automobile. The Companies shall provide Executive with the use of a
          vehicle, primarily for corporate purposes, throughout the Term of
          Employment.
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     (e)  Benefit Plan; Vacation. Executive shall be entitled to participate in
          all benefit plans maintained for employees of the Companies, and shall
          be entitled to four weeks of paid vacation per annum.

4.       Note, Options, and Special Bonus.

     (a)  Prior to the date hereof Executive has obtained a non-resource loan
          from MetaCreations in a face amount of $1,000,000 secured solely by
          options the Executive holds to acquire stock in MetaCreations (the
          "Note"). Such Note and accrued interest thereon is due and payable on
          December 31, 2002 and bears interest at the Applicable Federal Rate as
          determined under the Internal Revenue Code.

     (b)  The parties hereby agree to amend and restate the Note and the
          collateral agreements relating to such Note so that the Note is
          further secured by the options he currently holds (including those
          granted hereunder) to acquire stock in Metastream and so that:

          (i)  Executive is entitled to retain all of the proceeds from any sale
               of MetaCreations or Metastream stock or options under the total
               of such proceeds equal $2,000,000, and

          (ii) On any subsequent disposition of MetaCreations or Metastream
               stock or options, Executive shall remit 50% of the after tax
               proceeds from such sales in repayment of the Note.

     (c)  If, during the Term of Employment, there occurs

          (i)  the acquisition of a majority of MetaCreations' stock by a third
               party or any group acting in concert;

          (ii) the sale of substantially all of MetaCreations' assets to a third
               party or any group acting in concert;

          (iii) a merger of MetaCreations with any other entity, including
               Metastream, or

          (iv) a secondary public offering of MetaCreations' stock

then MetaCreations shall cancel and forgive the Note and all accrued interest
thereon, and shall further make such payments to Executive as may be required so
that all of Executive's federal and state tax liabilities arising as a result of
the operation of this paragraph are fully payable from amounts received by
Executive pursuant to this paragraph (the amount of the loan and interest
forgiveness and other amounts due pursuant to this paragraph are collectively
hereinafter referred to as the "Special Bonus Amount").

     (d)  If, during the Term of Employment, Metastream engages in an initial
          public offering of its stock, then Metastream shall make a bonus
          payment to the Executive equal to the Special Bonus Amount.

5.       Termination:

     (a)  For Cause. Either of the Companies may terminate Executive's
          employment hereunder for Cause and, in such event, shall have no
          further obligations to make any payments to Executive hereunder.
          "Cause" means the willful and continuing refusal of Executive to
          follow directives of the Companies' Boards of Directors, conduct that
          is intentional and known by Executive to be harmful to the Companies
          best interest, or the conviction of
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          any  felony or any crime involving dishonesty.

     (b)  Without Cause or for Good Reason. If the Companies terminate
          Executive's employment hereunder without Cause, or Executive
          terminates employment for Good Reason, then the Companies shall be
          required to make any and all payments that would have been due
          hereunder if such termination had not occurred, and all of Executive's
          options to acquire stock in the Companies shall be fully and
          immediately vested and exercisable. "Good Reason" shall mean any
          breach by either of the Companies of their obligations hereunder,
          including any effective diminution of Executive's duties.

6. Counterparts and Facsimile Signature. This agreement may be executed in
counterparts and by facsimile, and each counterpart or facsimile copy shall have
the force and effect of an original.

Agreed and Accepted.

Executive:

/s/ROBERT RICE
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Metastream:

/s/HOWARD MORGAN
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By:  Howard Morgan
Chairman of the Board and the Compensation Committee of Metastream

MetaCreations Corporation:

/s/SAM JONES
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By:  Sam Jones
Member of the Board and of the Compensation Committee of MetaCreations

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