Document:

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                                                                    EXHIBIT 10.9

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                           REVOLVING CREDIT AGREEMENT

                                 by and between

                    WORLDWIDE XCEED GROUP, INC., as Borrower

                                       and

                         SPHERION CORPORATION, as Lender

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                          Dated as of November 15, 2000
                    ----------------------------------------

                                  $5,000,000.00

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                                TABLE OF CONTENTS

                                                                       Page

1.  DEFINITIONS........................................................  1

2.  LOANS..............................................................  1

3.  BORROWING REQUESTS.................................................  2

4.  CONDITIONS OF LENDING..............................................  2

   4.1  INITIAL LOAN...................................................  2
   4.2  EACH LOAN......................................................  3

5.  INTEREST AND PAYMENT OF INTEREST...................................  3

6.  REPAYMENT OF PRINCIPAL.............................................  3

7.  PREPAYMENT.........................................................  4

8.  REPRESENTATIONS AND WARRANTIES.....................................  4

   8.1  EXISTENCE, AUTHORITY, NON-CONTRAVENTION........................  4
   8.2  SEC FILINGS; FINANCIAL STATEMENTS..............................  4
   8.3  LITIGATION.....................................................  5
   8.4  OWNERSHIP OF PROPERTIES........................................  5
   8.5  FICTITIOUS NAMES, ETC..........................................  6
   8.6  TAXES..........................................................  6
   8.8  INTELLECTUAL PROPERTIES........................................  6
   8.9  ENVIRONMENTAL..................................................  6
   8.10 REGULATIONS G, U AND X.........................................  7
   8.11 ACCURACY OF INFORMATION........................................  7
   8.12 PENSION AND WELFARE PLANS......................................  7

9.  AFFIRMATIVE COVENANTS..............................................  8

   9.1  FINANCIAL STATEMENTS...........................................  8
   9.2  EXISTENCE......................................................  8
   9.3  INSURANCE......................................................  9
   9.4  TAXES..........................................................  9
   9.5  BOOKS AND RECORDS..............................................  9
   9.6  DELIVERY OF COLLATERAL.........................................  9
   9.7  OTHER..........................................................  9

10. NEGATIVE COVENANTS................................................. 11

  10.1  INDEBTEDNESS................................................... 11
  10.2  ENCUMBRANCES................................................... 11

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  10.3  LIABILITY FOR THIRD PARTY INDEBTEDNESS......................... 12
  10.4  EXTENSIONS OF CREDIT........................................... 12
  10.5  CAPITAL ACQUISITIONS........................................... 12
  10.6  MERGERS, ACQUISITIONS, ETC..................................... 12
  10.7  DISPOSITION OF ASSETS.......................................... 12
  10.9  DIVIDENDS...................................................... 12
  10.10 OTHER CHANGES.................................................. 13

11. COLLATERAL SECURITY................................................ 13

12. DEFAULT; EXTRAORDINARY CORPORATE EVENTS AND REMEDIES............... 13

  12.1  EVENTS OF DEFAULT.............................................. 13
  12.2  EXTRAORDINARY CORPORATE EVENTS................................. 14
  12.3  WAIVERS........................................................ 15
  12.4  UNIFORM COMMERCIAL CODE........................................ 16
  12.5  EXPENSES; PROCEEDS OF COLLATERAL............................... 16

13. NOTICES............................................................ 16

14. COMPUTATION OF INTEREST; HOLIDAYS.................................. 17

15. FEES AND TAXES..................................................... 18

16. ASSIGNMENT......................................................... 18

17. SEVERABILITY....................................................... 18

18. HEADINGS, GENDER AND NUMBER........................................ 18

19. WAIVER OF JURY TRIAL............................................... 18

20. BINDING AGREEMENT.................................................. 19

21. GOVERNING LAW...................................................... 19

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                                    EXHIBITS

EXHIBIT A          Definitions
EXHIBIT B          Form of Master Revolving Credit Note
EXHIBIT C          Form of Warrant Agreement

                                    SCHEDULES

Schedule 8.1       Subsidiaries
Schedule 8.2(e)    Material Adverse Changes
Schedule 8.3       Litigation
Schedule 8.5       Fictitious Names
Schedule 8.9       Environmental
Schedule 8.12      ERISA
Schedule 10.1      Indebtedness
Schedule 10.2      Encumbrances
Schedule 10.4      Extensions of Credit

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                           REVOLVING CREDIT AGREEMENT

     THIS REVOLVING CREDIT AGREEMENT (this "AGREEMENT") is made as of November
15, 2000 by and between WORLDWIDE XCEED GROUP, INC., a Delaware corporation (the
"BORROWER"), and SPHERION CORPORATION, a Delaware corporation (the "LENDER").

                                   WITNESSETH:

     WHEREAS, the Borrower has requested that Lender extend a revolving credit
facility in the aggregate principal amount of FIVE MILLION DOLLARS ($5,000,000)
(the "CREDIT FACILITY"), and Lender is willing to make available such Credit
Facility to the Borrower, upon the terms and conditions hereinafter set forth;
and

     WHEREAS, in consideration for and as a condition to the Lender extending
the Credit Facility, the Borrower has agreed to grant the Lender warrants (the
"WARRANTS") to purchase up to 3,500,000 shares of the Borrower's common stock,
par value $0.01 per share, (the "WARRANT SHARES") at a price of $1.6875 per
Warrant Share, in accordance with the terms and conditions of the Warrant
Agreement dated the date hereof in the form attached hereto as EXHIBIT C (the
"WARRANT AGREEMENT").

     NOW, THEREFORE, in consideration of the forgoing, and for other good and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereby agree as follows:

     1. DEFINITIONS. All capitalized terms used but not defined herein
shall have the meanings set forth in EXHIBIT A attached hereto.

     2. LOANS. Lender shall, upon the terms and subject to the conditions of
this Agreement, make, upon the Borrower's request from time to time, revolving
loans (hereinafter referred to as, individually, a "Loan" and, collectively, the
"LOANS") to the Borrower in an aggregate principal amount at any time
outstanding up to but not exceeding five million dollars ($5,000,000) (the
obligation of Lender to make Loans pursuant to the foregoing revolving line of
credit up to but not exceeding the foregoing aggregate principal amount at any
one time outstanding is hereinafter referred to as the "COMMITMENT"). The sum of
the aggregate principal amount of Loans at any one time outstanding shall in no
event exceed the Commitment. Within such limit, the Borrower may borrow, repay,
and reborrow at any time or from time to time from the date hereof to and
including the earlier to occur of (I) May 15, 2002, (II) the occurrence of an
"Event of Default" under and as defined in Section 12.1 hereof, (III) the
occurrence of an "Extraordinary Corporate Event" under and as defined in Section
12.2 hereof, and (iv) the Borrower Termination Date (the earlier of such dates
in clauses (i) through (iv) is hereinafter referred to as the "TERMINATION
DATE"). The Borrower's obligation to pay the Lender the principal and interest
of each Loan shall be further evidenced by a master

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revolving credit note, which shall be subject to the terms and conditions of
this Agreement, in substantially the form of EXHIBIT B attached hereto (the
"MASTER REVOLVING CREDIT NOTE").

     3. BORROWING REQUESTS. The Borrower shall give Lender at least one (1)
business day prior written notice of each Loan by delivering to Lender a draw
request (a "DRAW REQUEST") specifying (I) the amount of the requested Loan which
shall not be less than $50,000 or a multiple thereof, (II) the requested closing
date of such Loan, and (III) the account information as to where the funds of
the Loan shall be delivered. Each such Loan shall be made in immediately
available funds by wire transfer to the account specified by the Borrower in the
Draw Request. In connection with each such Loan, the Borrower shall furnish to
the Lender a certificate executed by the Chief Executive Officer or Chief
Financial Officer of the Borrower certifying as to the satisfaction as of the
date of the Draw Request of the conditions set forth in Section 4.2 (i), (ii),
(iii) and (iv) hereof (a "DRAW CERTIFICATE").

     4. CONDITIONS OF LENDING.

         4.1. INITIAL LOAN. The obligation of Lender to make the initial
Loan under this Credit Facility is subject to the following conditions
precedent: (I) Lender shall have received a certified copy of all corporate
actions taken by the Borrower to authorize the execution, delivery and
performance of this Agreement and the borrowing by the Borrower hereunder, and
copies of such audited and other financial statements, federal income tax
returns, and other financial documents as Lender, in its sole discretion, shall
request prior to the execution and delivery of this Agreement; (II) Lender shall
have received a certificate signed by the secretary of the Borrower, attaching
and confirming the accuracy of the Certificate of Incorporation and By-laws of
the Borrower, the incumbency of certain officers of the Borrower authorized to
execute this Agreement and the Master Revolving Credit Note and to make Draw
Requests, in form acceptable to the Lender; (III) Lender shall have received
certificates issued by the appropriate governmental authorities evidencing the
good standing of the Borrower, with respect to both the conduct of business and
the payment of all franchise taxes, as of a date not more than five days prior
to the date hereof, as a corporation organized under the laws of the State of
Delaware and as a foreign corporation authorized to do business under the laws
of the various jurisdictions where it is so qualified, if applicable; (IV)
Lender shall have received an opinion of counsel to the Borrower, in form and
substance satisfactory to Lender and counsel to Lender, as to the enforceability
of this Agreement, as to the perfection of the security interest granted
hereunder, and as to the matters referred to in Sections 8.1, 8.3 and 8.10
hereof; (V) the Borrower shall have executed and delivered the Warrant Agreement
to the Lender prior to the execution and delivery of this Agreement; (VI) the
Borrower shall have executed and delivered the Master Revolving Credit Note to
the Lender prior to the execution and delivery of this Agreement; (VII) the
Lender shall be satisfied, in its sole and absolute discretion, that the
Collateral is free and clear of all liens, mortgages, pledges, assignments,
security interests or other encumbrances, other than the Permitted Liens set
forth only in Sections 10.2 (i), (ii) and (iv) hereof and the Borrower shall
have provided the Lender with appropriate termination statements on Form
U.C.C.-3 evidencing the termination of all

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security interests heretofore granted by the Borrower upon the Collateral or
other evidence of the release of such security interests in form and substance
reasonably satisfactory to the Lender; and (VIII) the Borrower shall have duly
authorized, executed, filed, registered and recorded such UCC financing
statements and other instruments as the Lender may have reasonable requested to
perfect the liens in the Collateral pursuant to this Agreement.

     4.2. EACH LOAN. The obligation of Lender to make each Loan to be made by it
hereunder (including the initial Loan) is subject to the following conditions
precedent: (I) no Event of Default, and no event which with notice or lapse of
time or both would become an Event of Default, shall have occurred and be
continuing; (ii) the representations and warranties of the Borrower hereunder
shall be true and correct in all material respects on and as of the date of the
making of such Loan with the same force and effect as if made on and as of such
date (except to the extent the Lender has been notified by the Borrower that any
representation or warranty is not correct and the Lender has explicitly waived
in writing compliance with such representation or warranty); (III) there shall
have been no material adverse change to the financial condition or operations of
the Borrower from the date hereof which would have a Material Adverse Effect on
the Collateral; (IV) the Borrower shall have delivered to Lender not less than
three (3) business days prior to the date of such Loan a Draw Request and a Draw
Certificate; and (V) no Extraordinary Corporate Event shall have occurred and
the Borrower shall not be aware of any actions or proceedings pending or
threatened that could reasonably be expected to result in an Extraordinary
Corporate Event.

     5. INTEREST AND PAYMENT OF INTEREST. The Borrower agrees (I) to pay
interest on the outstanding principal balance of Loans hereunder (before and
after the Termination Date) at a fluctuating rate per annum equal to two percent
(2%) per annum plus the "Prime Rate" as publicly announced in the "Money Rates"
section of the WALL STREET JOURNAL (the "INTEREST RATE"); or (II) to pay
interest at a fluctuating rate per annum equal to the Interest Rate plus two
percent (2%) per annum, on any amount of principal which is not paid when due
(whether at stated maturity, by acceleration or otherwise). In no event shall
the rate of interest on Loans hereunder be in excess of the rate authorized by
applicable law. Interest on the Loans accruing during each month shall be paid
by the Borrower on the first day of each month commencing in the month
immediately following of the initial Loan. Payments of interest on the Loans
shall be made by wire transfer of immediately available funds to account of the
Lender as designated in writing by the Lender to the Borrower. For purposes of
this Section 5, the rate of interest shall be calculated on the first business
day of each calendar quarter for all outstanding Loans during such calendar
quarter.

     6. REPAYMENT OF PRINCIPAL. On the Termination Date, the Borrower shall
repay the entire aggregate unpaid principal amount of all Loans made by Lender
to the Borrower pursuant to this Agreement (as the same may be amended,
modified, supplemented from time to time) outstanding on the Termination Date
plus all accrued and unpaid interest hereunder.

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     7. PREPAYMENT; BORROWER TERMINATION. The Borrower shall have the right at
any time and from time to time, upon one (1) business day's notice to Lender, to
prepay the outstanding principal amount of Loans and any accrued and unpaid
interest hereunder, in whole or in part, without premium or penalty; provided
that prepayments shall be applied first to accrued and unpaid interest due
hereunder, and then to principal. The portion of each partial prepayment of such
outstanding principal made after the Termination Date which is applied to
principal shall be applied to the latest maturing installments of principal.
Prepayments shall not be less than $50,000, or a multiple thereof, other than
payments made on the Termination Date. The Borrower shall have the right to
terminate this Agreement, without premium or penalty, upon three (3) business
days' notice to Lender (the "BORROWER TERMINATION DATE"); provided that such
termination shall not in anyway affect the Borrower's rights pursuant to the
Warrant Agreement.

     8. REPRESENTATIONS AND WARRANTIES. The Borrower hereby represents and
warrants to the Lender that on the date hereof and on the date of each Loan made
from time to time hereunder:

        8.1. EXISTENCE, AUTHORITY, NON-CONTRAVENTION; SUBSIDIARIES. The
Borrower is duly organized, validly existing and in good standing under the laws
of the State of Delaware, and is duly qualified to transact its business and own
property in each state in which its property is located or in which it conducts
its business and where the failure to so qualify would have Material Adverse
Effect, and the Borrower has full power and authority to execute this Agreement,
Master Revolving Credit Note, the Warrant Agreement and to borrow hereunder. The
execution, delivery and performance by the Borrower of this Agreement, the
Master Revolving Credit Note, the Warrant Agreement and all other agreements,
instruments and documents respecting the Loans hereunder have been duly
authorized by all necessary action and will not violate any provision of law or
of the certificate of incorporation (including, without limitation, any
certificate of designations of preferred stock) or bylaws of the Borrower, or
result in a breach or default or require any consent under, or result in the
creation of any lien, charge or encumbrance upon any property or assets of the
Borrower pursuant to any material indenture or other agreement or
instrument(including, without limitation, the subscription agreement and other
agreements executed and delivered between the Borrower and its holders of Series
A Cumulative Convertible Preferred Stock) to which the Borrower is a party or by
which the Borrower or its property may be bound or affected, other than as
specifically provided herein. Except as set forth on SCHEDULE 8.1, the Borrower
does not have any subsidiaries, participate in any partnership or joint venture
(other than the joint venture with the Borrower), or own any outstanding capital
stock of any other corporation.

     8.2. SEC FILINGS; FINANCIAL STATEMENTS. (a) The Borrower is a reporting
company under the Securities and Exchange Act of 1934, as amended.

     (b) Borrower has timely filed and made available via EDGAR to the Lender
all documents filed with the United States Securities and Exchange Commission
(the "SEC") required to be filed by the Borrower (the "BORROWER SEC REPORTS").

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     (c) The Borrower SEC Reports (I) at the time filed, complied in all
material respects with the applicable requirements of the Securities Laws and
other applicable laws and (II) did not, at the time they were filed (or, if
amended or superseded by a filing prior to the date of this Agreement, then on
the date of such filing) contain any untrue statement of a material fact or omit
to state a material fact required to be stated in such Borrower SEC Reports or
necessary to make the statements in such Borrower SEC Reports, in light of the
circumstances under which they were made, not materially misleading.

     (d) Each of the balance sheets and statements of income and retained
earnings of the Borrower and all other financial documents and information
("BORROWER FINANCIAL STATEMENTS") (including, in each case, any related notes)
contained in the Borrower SEC Reports, complied as to form in all material
respects with the applicable published rules and regulations of the SEC with
respect thereto, was prepared in accordance with generally accepted accounting
principles applied on a consistent basis throughout the periods involved (except
as may be indicated in the notes to such financial statements or, in the case of
unaudited interim statements, as permitted by Form 10-Q of the SEC), and fairly
presented in all material respects the financial position of the Borrower as at
the respective dates and the results of operations and cash flows for the
periods indicated, except that the unaudited interim financial statements were
or are subject to normal and recurring year-end adjustments which were not or
are not expected to be material in amount or effect.

     (e) The Borrower has no material contingent obligations, liabilities for
taxes, long-term leases, or unusual forward or long-term commitments not
disclosed by, or reserved against in, the Borrower Financial Statements, and at
the present time there are no material unrealized or anticipated losses from any
unfavorable commitments of the Borrower. Since the date of the latest of such
Borrower Financial Statements there have been no material adverse changes in the
financial condition of the Borrower other than as set forth in SCHEDULE 8.2(E)
hereof.

     8.3. LITIGATION. There are no suits or proceedings pending or, to the
knowledge of the Borrower, threatened against or affecting the Borrower which,
if adversely determined, would have a Material Adverse Effect, and there are no
proceedings pending or to the knowledge of the Borrower threatened before any
governmental commission, board, bureau or agency against the Borrower other than
as set forth in SCHEDULE 8.3 hereof.

     8.4. OWNERSHIP OF PROPERTIES. With the exception of any security interest
granted to Lender, and other than Permitted Liens, the Borrower owns its
respective properties free and clear of all liens, mortgages, pledges,
assignments, security interests or other encumbrances. Notwithstanding the
foregoing, with the exception of any security interest granted to Lender, and
other than the Permitted Liens set forth only in Section 10.2 (i), (ii) and (iv)
hereof, the Borrower owns the Collateral free and clear of all liens, mortgages,
pledges, assignments, security interests or other encumbrances.

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     8.5. FICTITIOUS NAMES, ETC. Except as set forth on SCHEDULE 8.5 hereof, the
Borrower does not now use and has not used in the past five years any trade or
fictitious name in the conduct of its business, has not changed its name, and
has not been the surviving entity in a merger or consolidation or acquired any
business.

     8.6. TAXES. The Borrower has filed all tax returns and reports required by
law to have been filed by it and has paid all income, franchise and other taxes
and charges as they became due except for the payment of taxes which are being
contested in good faith by appropriate proceedings.

     8.7. ADVERSE CONTRACTs. The Borrower is not a party to any instrument
affecting its business in a manner which could limit or otherwise adversely
affect the Borrower's ability to enter into this Agreement and the transactions
contemplated hereby.

     8.8. INTELLECTUAL PROPERTIES. The Borrower possesses all necessary
patents, trademarks, trade names, copyrights and licenses necessary to conduct
its business as currently conducted.

     8.9. ENVIRONMENTAL. Except as set forth in SCHEDULE 8.9:

          (a)  All facilities and property (including underlying groundwater)
owned or leased by the Borrower are in compliance with all Environmental Laws;

          (b)  there have been no past, and there are no pending or, to the
Borrower's knowledge, threatened:

               (i)  claims, complaints, notices or requests for information
received by the Borrower with respect to any alleged violation of any
Environmental Law, or

              (ii)  complaints, notices or inquiries to the Borrower regarding
potential liability under any Environmental Law;

          (c)  there have been no releases of Hazardous Materials at, on or
under any property now or previously owned or leased by the Borrower that,
singly or in the aggregate, have, or may reasonably be expected to have, a
Material Adverse Effect;

          (d)  the Borrower has issued and is in compliance with all permits,
certificates, approvals, licenses and other authorizations relating to
environmental matters and necessary or desirable for its business;

          (e)  no property now or previously owned or leased by the Borrower
is listed or proposed for listing (with respect to owned property only) on the
"National Priorities List" pursuant to CERCLA, on the CERCLIS or on any similar
state list of sites requiring investigation or clean-up;

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          (f) there are no underground storage tanks, active or abandoned,
including petroleum storage tanks, on or under any property now or previously,
owned or leased by the Borrower, which existed during or prior to the
Borrower's ownership or tenancy, that, singly or in the aggregate, have, or
may reasonably be expected to have, a Material Adverse Effect;

          (g) the Borrower has not directly transported or directly
arranged for the transportation of any Hazardous Material to any location which
is listed or proposed for listing on the "National Priorities List" pursuant to
CERCLA, on the CERCLIS or on any similar state list or which is the subject of
federal, state or local enforcement actions or other investigations which may
lead to material claims against the Borrower thereof for any remedial work,
damage to natural resources or personal injury, including claims under CERCLA;

          (h) there are no polychlorinated biphenyls or friable asbestos
present at any property owned or previously owned or leased by the Borrower,
which existed during or prior to the Borrower's ownership or tenancy, that,
singly or in the aggregate, have, or may reasonably be expected to have, a
Material Adverse Effect; and

          (i) no conditions exist at, on or under any property now or
previously owned or leased by the Borrower, which existed during or prior to the
Borrower's ownership or tenancy, which, with the passage of time, or the giving
of notice or both, would give rise to liability under any Environmental Law.

     8.10. REGULATIONS G, U AND X. The Borrower is not engaged in the business
of extending credit for the purpose of purchasing or carrying margin stock, and
no proceeds of any Loans will be used for a purpose which violates, or would be
inconsistent with, Federal Reserve Board Regulations G, U or X. Terms for which
meanings are provided in Federal Reserve Board Regulations G, U or X or any
regulations substituted therefor, as from time to time in effect, are used in
this Section with such meanings.

     8.11. ACCURACY OF INFORMATION. All factual information heretofore or
contemporaneously furnished by or on behalf of the Borrower in writing to the
Lender for purposes of or in connection with this Agreement or any transaction
contemplated hereby is, and all other such factual information hereafter
furnished by or on behalf of the Borrower to the lender or any Lender will be,
true and accurate in every material fact necessary to make such information not
misleading.

     8.12. PENSION AND WELFARE PLANS. During the twelve-consecutive month
period prior to the date of the execution and delivery of this Agreement and
prior to the date of any Loan hereunder, no steps have been taken to terminate
any pension plan, and no contribution failure has occurred with respect to any
pension plan sufficient to give rise to a lien under section 302(f) of the
Employee Retirement Income Security Act of 1974, as amended ("ERISA"). No
condition exists or event or transaction has occurred with respect

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to any pension plan which might result in the incurrence by the Borrower or any
member of a controlled group of any material liability, fine or penalty. Except
as disclosed in SCHEDULE 8.12, neither the Borrower nor any member of the
controlled group has any contingent liability with respect to any
post-retirement benefit under a welfare plan, other than liability for
continuation coverage described in Part 6 of Title I of ERISA.

     Section 8.13 ACCOUNTS RECEIVABLE. As of August 31, 2000 (a) each of the
accounts receivable and the total revenue of Pulse Interactive B.V., a
subsidiary of the Borrower, represent less than 5% of the consolidated accounts
receivable and total revenue of the Borrower respectively; and (b) except only
to the extent fully reserved against as set forth in the Borrower Financial
Statements, no defense or setoff to any accounts receivable of the Borrower has
been asserted by the account obligor.

     9. AFFIRMATIVE COVENANTS. So long as the Commitment and Lender's
obligations thereunder shall remain outstanding, or there shall be any principal
balance of Loans outstanding hereunder, or any interest accrued or other amounts
due or to become due hereunder remain unpaid, the Borrower will:

     9.1 FINANCIAL STATEMENTS. Furnish to Lender (it being understood that
making Borrower SEC Reports available via EDGAR shall constitute delivery
thereof to the Lender):

          (a) Within ninety (90) days after the end of each fiscal year of the
Borrower, a true copy of a report on Form 10-K duly filed with the SEC, as
required by the Securities Laws.

          (b) Within forty-five (45) days after the end of each fiscal quarter
of the Borrower, a true copy of a report on Form 10-Q duly filed with the SEC,
as required by the Securities Laws.

          (c) within forty-five (45) days from the end of each fiscal quarter
of the Borrower, a profit and loss statement (income statement) for the Borrower
prepared by its management and certified by the Chief Executive Officer, Chief
Financial Officer or Chief Operating Officer of the Borrower, as follows: "We
certify that these financial statements are true and correct and subject to
year-end audit adjustments." ; and

          (d) Within thirty (30) days after the end of each fiscal quarter of
the Borrower, a certificate from the Borrower stating that no Event of Default
or Extraordinary Corporate Event under this Agreement has occurred. Such
certificate will be issued by the Chief Executive Officer, the Chief Financial
Officer or the Chief Operating Officer of the Borrower.

     9.2 EXISTENCE. Preserve and maintain its corporate existence and its
rights, privileges and franchises.

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     9.3 INSURANCE. Maintain insurance with financially sound and reputable
insurance companies or associations in such amounts and covering such risks as
are usually carried by companies engaged in similar businesses and owning
similar properties doing business in the same general areas in which the
Borrower operates. All insurance policies insuring the Collateral shall name
Lender as loss payee or additional insured. Copies of certificates of such
insurance and all endorsements shall be furnished to Lender within 30 days after
request thereof by the Lender. Such insurance policies shall contain provisions
that no insurance may be cancelled or the coverage limits or other terms thereof
decreased or otherwise materially modified, except upon prior written notice to
Lender given no later than such notice is required to be given to the Borrower,
as the case may be. If the Borrower shall at any time or times hereafter fail to
obtain and/or maintain any of the policies of insurance required herein, or fail
to pay any premium in whole or in part relating to any such policies, Lender may
but shall not be obligated to obtain and/or cause to be maintained insurance
coverage with respect to such property, including at Lender's option the
coverage provided by any or all of the policies of the Borrower, and pay all or
any part of the premium therefor, without thereby waiving any default by the
Borrower, and any sums so disbursed by Lender shall be additional Loans to the
Borrower by Lender payable on demand and shall bear interest at the rate borne
by the Loans from time to time. After the occurrence and during the continuance
of an Event of Default and pursuant to the exercise of its rights and remedies
under Section 12, Lender shall have the right to settle and compromise any and
all claims under any of the policies required to be maintained by the Borrower
hereunder (with the consent of the Borrower which shall not be unreasonably
withheld) and the Borrower hereby appoints Lender as its attorney-in-fact, with
the power, from and after the occurrence and during the continuance of an Event
of Default and pursuant to the exercise of its rights and remedies under Section
12, to demand, receive, and receipt for all monies payable thereunder, to
execute in the name of the Borrower or Lender or both any proof of loss, notice,
draft or other instruments in connection with such policies or any loss
thereunder and generally to do and perform any and all acts as the Borrower, but
for this appointment, might or could perform.

     9.4 TAXES. Pay and discharge all taxes, assessments and governmental
charges or levies imposed upon it or upon its income and profits, or upon any
property belonging to it, prior to the date upon which penalties attach thereto,
except and to the extent that the same are being contested in good faith by
appropriate proceedings.

     9.5 BOOKS AND RECORDS. Keep proper books of record and account.

     9.6 DELIVERY OF COLLATERAL. Promptly upon a request being made therefor by
Lender, deliver to Lender such collateral or additional collateral as Lender may
require as security or further security, as the case may be, for the repayment
of the Loans.

     9.7 OTHER.

          (a) Upon written request, furnish to the Lender copies of all
information furnished by the Borrower to the stockholders of the Borrower, or to
any governmental

                                       9
<PAGE>

authority or general press release within 24 hours after such request (it being
understood that making Borrower SEC Reports available via EDGAR shall constitute
delivery thereof to the Lender).

          (b) Within a reasonable time after written request therefor,
make available for inspection during normal business hours by duly authorized
representatives of the Lender any of its books and records, and any information
regarding its financial condition.

          (c) Collect its accounts and sell its services only in the ordinary
course of business.

          (d) Give notice to the Lender within five days of: (I) any
litigation or proceeding in which it is a party if an adverse decision therein
would reasonably be expected to require the Borrower to pay more than two
hundred thousand dollars ($200,000.00), or deliver assets the aggregate value of
which exceeds such sum (whether or not the claim is considered to be covered by
insurance); and (II) the institution of any other suit or proceeding involving
it that might have a Material Adverse Effect.

          (e) Pay when due or cause to be paid when due (or within
applicable grace periods) all indebtedness for borrowed money or for the
deferred purchase price of property owed to third persons, except when the
amount thereof is being contested in good faith by appropriate proceedings, and
adequate reserves therefor have been set aside on the appropriate books of the
Borrower. If the Borrower defaults in the payment of any principal (or
installment thereof) of, or interest on, any such indebtedness, Lender shall
have the right in its discretion, to pay such interest or principal for the
account of the Borrower and be reimbursed, on demand, by the Borrower.

          (f) Notify Lender immediately if it becomes aware of the occurrence
of any Event of Default or an Extraordinary Corporate Event (or any facts that
could reasonably be expected to result in the occurrence of an Event of Default
or an Extraordinary Corporate Event).

          (g) Notify Lender thirty (30) days in advance of any change in
its address, or in the location of its principal place of business.

          (h) Perform and observe all agreements, covenants, obligations, terms
and conditions of this Agreement, the Master Revolving Credit Note, or other
instrument executed in connection with this Agreement and the Master Revolving
Credit Note.

          (i) Duly observe, conform and comply with all laws, decisions,
judgments, rules, regulations and orders of all governmental authorities
relative to the conduct of its businesses, its properties, except those being
contested in good faith by appropriate proceedings diligently pursued; and
obtain, maintain and keep in full force and effect all governmental licenses,
authorizations and permits necessary to the proper

                                       10
<PAGE>

conduct of its businesses, except to the extent the foregoing would not have any
Material Adverse Effect.

          (j) Provide the Lender, on a semi-annual basis, a list of its accounts
receivable.

          (k) The Borrower shall use the proceeds from the Loans solely to fund
operating expenses.

     10. NEGATIVE COVENANTS. So long as the Commitment and Lender's obligations
thereunder remain outstanding, or there shall be any principal balance of Loans
outstanding hereunder, or any interest accrued or other amounts due or to become
due hereunder remain unpaid, the Borrower will not:

     10.1 INDEBTEDNESS. (a) Create, incur, assume or suffer to exist any
indebtedness for borrowed money or for the deferred purchase price of property,
except (I) indebtedness incurred and to be incurred pursuant to this Agreement,
(II) indebtedness owing by the Borrower on the date hereof, (III) trade payables
and contractual obligations to suppliers and customers incurred in the ordinary
course of business; (IV) liability for employees' salaries incurred in the
ordinary course of business, (V) obligations to fund any of Borrower's pension
or employee benefit plans in the ordinary course of business, (VI) tax liability
incurred in the ordinary course of business; (VII) other debt existing on the
date hereof or reflected in the Financial Statements, (VIII) indebtedness of the
Borrower subordinated on terms satisfactory to Lender to the indebtedness
incurred and to be incurred pursuant to this Agreement, and (ix) the
indebtedness described on SCHEDULE 10.1 or (b) prepay any indebtedness other
than the foregoing indebtedness and the indebtedness incurred pursuant to this
Agreement.

     10.2 ENCUMBRANCES. Create, incur, assume or suffer to exist, any
mortgage, pledge, lien, security interest, charge or encumbrance of any kind or
nature (including the lien or retained security title of a conditional vendor)
in or upon the Collateral, whether now owned or hereafter acquired, or assign or
otherwise convey any contract rights, accounts receivable or other right to
receive income, except (I) liens for property taxes not delinquent and liens for
taxes which are not yet subject to penalties or are being contested in good
faith by appropriate proceedings, (II) liens in respect of pledges or deposits
made under workmen's compensation, unemployment insurance, social security and
similar legislation or in connection with appeal or surety bonds incidental to
litigation or to secure public or statutory obligations and mechanic's,
repairmen's, materialmen's and other like liens in respect of obligations which
are not due or are being contested in good faith, (III) liens and security
interests existing on the date hereof and disclosed on SCHEDULE 10.2 hereof and
(IV) liens and encumbrances incidental to the conduct of the business of the
Borrower, which are not incurred in connection with any borrowing or the
obtaining of any advance or credit and which do not and will not interfere with
the occupation, use and enjoyment by the Borrower of its respective properties
and assets in the normal course of

                                       11
<PAGE>

business or materially impair the value of such properties and assets for the
purpose of such business (the foregoing exceptions being the "PERMITTED LIENS").

     10.3 LIABILITY FOR THIRD PARTY INDEBTEDNESS. Except as provided in
Section 10.1, assume, guarantee, endorse or otherwise become directly or
contingently liable in connection with any obligation of any other person,
firm or corporation (except by endorsement of negotiable instruments for
deposit or collection or similar transactions in the ordinary course of
business).

     10.4 EXTENSIONS OF CREDIT. Except as provided on SCHEDULE 10.4, (i) make
any loan or advance or extend any credit to any person, firm or corporation,
except in the ordinary course of business, or (II) purchase or make any
commitment to purchase or otherwise acquire any stock, bond, debenture, note
or other security of any person, firm or corporation, other than (A) direct
obligations of the United States of America or an agency thereof having a
maturity of less than one year or (B) certificates of deposit or money market
instruments of a financial institution or bank or (C) investments purchased
for an aggregate consideration not to exceed $1,000,000 in any twelve month
period.

     10.5 CAPITAL ACQUISITIONS. Make any expenditures for fixed or capital
assets in any one fiscal year other than in accordance with past practices.

     10.6 MERGERS, ACQUISITIONS, ETC. Merge into or consolidate with or into
any corporation or have any other corporation or entity merge with or into
the Borrower. For the purposes of this Section 10.6, the acquisition by the
Borrower, by lease, purchase or otherwise, of (I) all of the outstanding
capital stock or securities of any other corporation or entity or (II) all or
substantially all of the assets of any other corporation or entity shall be
deemed to be a merger of such corporation or entity with or into the
Borrower. To the extent that the Lender consents to the acquisition by the
Borrower, by lease, purchase or otherwise, of (I) all of the outstanding
capital stock or securities of any other corporation or entity or (II) all or
substantially all of the assets of any other corporation or entity, then the
Borrower shall cause each newly acquired corporation or entity to become a
guarantor hereunder and to execute all documents and instruments necessary to
effect such guarantee or as may otherwise be requested by the Lender within
ninety (90) days following the consummation of such acquisition.

     10.7 DISPOSITION OF ASSETS. Sell, lease, assign, transfer or otherwise
dispose of all or a substantial portion of its assets, including its accounts
receivable, other than in the ordinary course of business.

     10.8 DIVIDENDS. Declare or pay any dividend, purchase, redeem or
otherwise acquire for value any of its capital stock now or hereafter
outstanding or return any capital or make any distribution of assets to
stockholders; provided that the Borrower may (I) redeem or effectuate
conversions of the Series A Cumulative Convertible Preferred Stock and (II)
effectuate conversions and exercises of its stock options and other
securities.

                                       12
<PAGE>

     10.09 OTHER CHANGES. Make or permit to be made any material change in
the character of its business as conducted on the date hereof.

     11. COLLATERAL SECURITY. As collateral security for the payment of the
indebtedness and other liabilities of the Borrower hereunder, and all
interest, taxes, fees, charges, expenses, and attorney's fees chargeable to
the Borrower or incurred by Lender hereunder or under any other document or
instrument delivered in connection herewith (all of the foregoing being
hereinafter referred to as the "OBLIGATIONS"), Lender shall have and Borrower
hereby grants to Lender a first priority and perfected lien upon and a
security interest in any and all current and future accounts receivable of
the Borrower and the proceeds of all such accounts receivable (all such
monies, securities and proceeds being hereinafter collectively called the
"COLLATERAL"). From and after the occurrence of an Event of Default, Lender
may, at its option and without obligation to do so, transfer to or register
in the name of its nominee(s) all or any part of the Collateral and it may do
so before or after the maturity of any of the Obligations. Lender is hereby
appointed the Borrower's attorney-in-fact for the purpose of taking any
action and executing any instruments which Lender deems necessary or
appropriate in order better to assure and confirm unto Lender its rights,
powers and remedies with respect to the Collateral or any part thereof
(including, without limitation, the right to execute and file on the
Borrower's behalf appropriate financing statements), which appointment is
irrevocable and coupled with an interest.

     12. DEFAULT; EXTRAORDINARY CORPORATE EVENTS AND REMEDIES.

     12.1 EVENTS OF DEFAULT. If any of the following events (each, an "EVENT
OF DEFAULT") shall occur and be continuing:

         (a) The Borrower shall (I) fail to make any payment when due of
principal or interest due under this Agreement, or (II) within five (5) business
days of demand from the Lender, any fee, charge or other amount owing to the
Lender hereunder; or

         (b) The Borrower shall otherwise default in the performance of any
term, covenant or condition contained herein and such default shall continue
unremedied for a period of ten (10) days after written notice thereof has been
given to the Borrower by the Lender; or

         (c) Any representation or warranty made by the Borrower and contained
herein shall prove to be untrue in any material respect as of the date on which
made; or

         (d) Any obligation of the Borrower in an outstanding principal amount
in excess of $50,000 for the payment of borrowed money or for the deferred
purchase price of property (other that as set forth in Section 12.1(a)) is not
paid when due, whether at stated maturity, by acceleration or otherwise, or is
declared to be due and payable prior to the stated maturity thereof and the
Borrower is in default with respect thereto; or

                                       13

<PAGE>

         (e)   The Borrower shall become insolvent or bankrupt or cease to pay
its or his debts as they mature or shall make an assignment for the benefit of
creditors, or a trustee or receiver or liquidator shall be appointed for the
Borrower or for a substantial part of the property of the Borrower, or
bankruptcy, reorganization, arrangement, insolvency or similar proceedings shall
be instituted by or against the Borrower under the laws of any jurisdiction; or

         (f)   Mr. Howard A. Tullman, ceases to serve as the Chief Executive
Officer or as a Director of the Borrower for any reason; or

         (g)   The Borrower's shares of Common Stock are delisted from the
NASDAQ National Market and no longer trade on a national securities exchange.

THEN, and in any such event, (I) Lender may at its option and without notice of
any kind immediately terminate the Commitment and all other commitments and
obligations to make loans or advances or otherwise to extend credit to the
Borrower, and may by written notice to the Borrower, at its option declare the
outstanding principal and accrued interest of the Loans to be immediately due
and payable, whereupon the same shall become and be immediately due and payable
without presentment, demand, protest, deduction, set-off or further notice of
any kind, all of which are expressly waived by the Borrower; (II) (A) if any
Event of Default specified in subsections (a), (e), (f) or (g) of this Section
12.1 shall continue unremedied for a period of five (5) business days after the
occurrence of such Event of Default, or (B) any Event of Default specified in
subsections (b), (c) or (d) of this Section 12.1 shall continue unremedied for a
period of thirty (30) calendar days after the occurrence of such Event of
Default, Lender shall be immediately released from its non-solicitation
obligations with respect to the Borrower's employees contained in (X) the Joint
Marketing Agreement dated April 27, 2000 between the Lender and the Borrower
(the "JOINT MARKETING AGREEMENT"), and (Y) any and all other agreements between
the Lender and Borrower; and (III) (A) if any Event of Default specified in
subsections (a), (e), (f) or (g) of this Section 12.1 shall continue unremedied
for a period of five (5) business days after the occurrence of such Event of
Default, or (B) any Event of Default specified in subsections (b), (c) or (d) of
this Section 12.1 shall continue unremedied for a period of thirty (30) calendar
days after the occurrence of such Event of Default, all contracts and agreements
that the Borrower has entered into pursuant to the Joint Marketing Agreement
shall, at the Lender's option, be assigned to the Lender.

     12.2  EXTRAORDINARY CORPORATE EVENTS. If any of the following events
(each, an "EXTRAORDINARY CORPORATE EVENT") shall occur:

         (a)   (i) the merger or consolidation of the Borrower with and into any
corporation or other legal entity, or a merger of any corporation or other legal
entity with or into the Borrower if, in the case of such merger or
consolidation, immediately after such merger or consolidation, the stockholders
of the Borrower immediately prior thereto own, in the aggregate, capital stock
of the surviving or resulting corporation or entity not having the voting power
to elect a majority of the board of directors of such corporation, (ii) any

                                       14

<PAGE>

reorganization, recapitalization or reclassification of shares of capital stock
(other than a change in par value, or from par value to no par value, or from no
par value to par value, as a result of a subdivision or combination of the
capital stock), or (iii) any sale or transfer of the assets of the Borrower
which represent 50% or more of the total value of the assets of the Borrower
(other than in the ordinary course of business consistent with past practices);
or

         (b)   The sale of equity or debt securities of the Borrower that
results in gross proceeds to the Borrower of at least $5,000,000 (exclusive of
any proceeds raised for the express and sole purpose of redeeming or
repurchasing the Series A Cumulative Convertible Preferred Stock of the
Borrower); or

         (c)   Any single transaction or series or related transactions in which
the stockholders of the Borrower immediately prior to such transaction do not
own at least a majority of the outstanding shares of capital stock following
such transaction (a "Change of Control"); PROVIDED, that (i) the conversion or
redemption of the Series A Cumulative Convertible Preferred Stock into shares of
the Borrower's common stock and the sale of such shares from time to time
(exclusive of a transaction or series of transactions, upon the consummation of
such transaction or series of transactions, that results in a single person or
entity or related or affiliated entities holding a majority of the then
outstanding shares of capital stock following such transaction) and (ii) the
exercise by the Lender of its warrants for common stock of the Borrower, shall
not be deemed to constitute an Extraordinary Corporate Event; or

         (d)   A change in the majority of the members of the Borrower's Board
of Directors, which change is not supported and approved by at least a majority
of the current incumbent directors (or a majority of the current incumbent
directors) then remaining on the Board,

THEN, and in any such event, Lender may at its option and without notice of any
kind immediately terminate the Commitment and all other commitments and
obligations to make loans or advances or otherwise to extend credit to the
Borrower, and may by written notice to the Borrower, at its option declare the
outstanding principal and accrued interest of the Loans to be immediately due
and payable, whereupon the same shall become and be immediately due and payable
without presentment, demand, protest, deduction, set-off or further notice of
any kind, all of which are expressly waived by the Borrower.

     12.3  WAIVERS. In addition to the foregoing waivers, the Borrower
expressly (i) waives all other notices in connection with the delivery,
acceptance, performance, default or enforcement of this Agreement, or of any
document or instrument evidencing any security for payment of indebtedness
under this Agreement, (ii) consents to any and all delays, extensions,
renewals or other modifications of this Agreement or waivers of any term
hereof and (iii) agrees that no such action, failure to act or failure to
exercise any right or remedy on the part of Lender shall in any way affect,
impair or be a defense to the Obligations or be construed as a waiver by
Lender of, or otherwise affect, any of Lender's

                                       15

<PAGE>

rights under this Agreement, or under any document or instrument evidencing any
security for the payment of the Borrower's obligations under this Agreement.

     12.4  UNIFORM COMMERCIAL CODE. Upon the occurrence of any such Event of
Default or an Extraordinary Corporate Event, Lender shall have the right to
exercise in respect of the Collateral all the rights and remedies available
to a secured party upon default under the Uniform Commercial Code (the
"CODE") in effect at the time in New York. For purposes of the Code, the
Borrower agrees that (I) in the event that notice to the Borrower is
required, written notice mailed by ordinary mail to the Borrower at the
address currently in effect for the Borrower under Section 12 hereof five (5)
business days prior to the date of public sale of the Collateral or prior to
the date after which private sale or any other disposition of the Collateral
will be made shall constitute reasonable notice, but notice given in any
other reasonable manner or at any other reasonable time shall be sufficient;
(II) without precluding any other methods of sale, the sale of Collateral
shall have been made in a commercially reasonable manner, but in any event,
Lender may sell at its option on such terms as it may choose without assuming
any credit risk and without any obligation to advertise; (III) at Lender's
request the Borrower will assemble the Collateral, or any part thereof, and
make such Collateral available to Lender at a time and place designated by
Lender, all at the expense of the Borrower and (IV) the Borrower shall remain
liable for any deficiency of the proceeds of any sale or other disposition of
the Collateral to pay in full the Obligations.

     12.5  EXPENSES; PROCEEDS OF COLLATERAL. The Borrower will pay to Lender,
as soon as incurred, all costs and expenses, including attorneys' fees
(which, however, shall not exceed $30,000 before the execution of this
Agreement), related or incidental to the care, holding, retaking, preparing
for sale, selling or collection of or realization upon any of the Collateral
or relating or incidental to the establishment or preserving or enforcement
of the rights of Lender hereunder or in respect of any of the Collateral, and
obtaining legal advice with regard to any of the foregoing. Further, net
proceeds of the Collateral resulting from sale, collection or otherwise, and
other available monies coming into the hands of Lender, may be applied by it,
before or after the occurrence of an Event of Default, to the satisfaction or
reduction of such of the costs and expenses and the Borrower's indebtedness
on account of any Obligation as Lender may see fit, whether or not matured.
The remedies of Lender shall be cumulative and may be exercised concurrently
or separately. No failure or delay on the part of Lender in exercising any
right or remedy granted to it hereby or otherwise provided by law shall
operate as a waiver thereof.

     13.   NOTICES. Any notice required to be given hereunder shall be deemed
to have been given if in writing, and sent by facsimile transmission (with a
confirmatory copy sent by overnight courier), by courier service (with proof
of service) or hand delivery, addressed as follows:

                                       16

<PAGE>

         (a)   If to the Lender:
               Spherion Corporation
               2050 Spectrum Boulevard
               Fort Lauderdale, Florida  33309
               Attention: Lisa Iglesias
                          General Counsel
               Telephone: (954) - 938-7600
               Facsimile: (954) - 938-7780

               With copies to (which copy shall not constitute notice):

               Baker & McKenzie
               1200 Brickell Avenue
               Miami, Florida 33131
               Attention: Andrew Hulsh
               Telephone: (305) - 789-8900
               Facsimile: (305) - 789-8953

         (b)   If to the Borrower:

               Worldwide Xceed Group, Inc.
               233 Broadway
               New York, New York 10279
               Attention: Chief Legal Officer
               Telephone: 312.360.6587
               Facsimile: 312.360.6575

               with a copy to (which copy shall not constitute notice):

               Katten Muchin Zavis
               525 West Monroe
               Chicago, Illinois 60661
               Attention: Linda Wight, Esq.
               Telephone: 312.902.5563
               Facsimile:  312.577.4499

or to such other address as any party shall specify by written notice so given,
and such notice shall be deemed to have been delivered as of the date so
telecommunicated, personally delivered or mailed.

     14.  COMPUTATION OF INTEREST; HOLIDAYS. Interest and premiums (if any)
shall be computed on a 360-day year basis. Whenever any payment to be made
hereunder shall be stated to be due on a Saturday, Sunday, or a public
holiday under the laws of the State of Florida, such payment may be made on
the next succeeding business day, and

                                       17

<PAGE>

such extension of time shall in such case be included in computing interest and
premiums (if any) in connection with such payment.

     15.  FEES AND TAXES. The Borrower agrees to pay any and all taxes (other
than taxes on or measured by net income of Lender) incurred or payable in
connection with the execution and delivery of this Agreement and all Loans,
as well as all costs and expenses (including attorneys' fees) incurred by
Lender in enforcing any of the Obligations. The Borrower also agrees to pay
within three business (3) days following receipt of an invoice of the legal
fees and expenses of Baker & McKenzie, counsel to the Lender, in connection
with the transactions contemplated hereby, not to exceed $30,000 for the
expenses incurred prior to the execution of this Agreement.

     16.  ASSIGNMENT. Lender may assign this Agreement and deliver to the
assignee(s) all or any of the property then held by it as security hereunder,
and the assignee(s) shall thereupon become vested with all the powers and
rights herein given to Lender with respect thereto; and Lender shall
thereafter be forever relieved and fully discharged from any liability or
responsibility in the matter.

     17.  SEVERABILITY. In the event any one or more of the provisions of
this Agreement shall for any reason be held invalid, illegal or
unenforceable, in whole or in part or in any respect, or in the event any one
or more of the provisions of this Agreement operate or would prospectively
operate to invalidate this Agreement, then and in any of those events, such
provision or provisions only shall be deemed null and void and shall not
affect any other provision of this Agreement and the remaining provisions of
this Agreement shall remain operative and in full force and effect and shall
in no way be affected, prejudiced or disturbed thereby.

     18.  HEADINGS, GENDER AND NUMBER. Headings of Sections and Subsections
herein are for reference purposes only and shall have no effect on the
meaning, interpretation or enforcement of this Agreement. Whenever the
context requires, the gender of all words used herein shall include the
masculine, feminine and neuter, and the number of all such words shall
include the singular and plural thereof.

     19.  WAIVER OF JURY TRIAL. The Borrower and Lender severally,
voluntarily, knowingly and intentionally WAIVE ANY AND ALL RIGHTS TO TRIAL BY
JURY in any legal action or proceeding arising under or in connection with
this Agreement, regardless of whether such action or proceeding concerns any
contractual or tortious or other claim. The Borrower and any such guarantor
severally acknowledge that this waiver of jury trial is a material inducement
to Lender in accepting this Agreement, that Lender would not have accepted
this Agreement without this jury trial waiver, and that each of them has been
represented by an attorney or has had an opportunity to consult with an
attorney regarding this Agreement and understands the legal effect of this
jury trial waiver.

                                       18

<PAGE>

     20.  BINDING AGREEMENT. This Agreement shall be binding upon the
Borrower and its successors and assigns and the terms hereof shall inure to
the benefit of Lender and its successors and assigns.

     21.  GOVERNING LAW. This Agreement shall be deemed to have been made
under, and shall in all respects be governed by, the laws of the State of New
York without regard to any conflict of law rule or principal that would give
effect to the laws of another jurisdiction, and none of its terms or
provisions may be waived, modified, amended or terminated except as Lender
may consent thereto in writing.

     22.  CONFIDENTIALITY. Notwithstanding any other provision contained
herein, if the Lender receives information regarding the Borrower which is
not otherwise publicly available (such information, the "CONFIDENTIAL
INFORMATION"), the Lender(i) shall not use or distribute such Confidential
Information in any manner whatsoever which would violate any applicable
securities laws, (ii) shall not disclose such information to any third
parties except such disclosure as shall may be required by Lender to comply
with any applicable law, rule, regulation, administrative order or court
order, and (iii) other than as set forth in the preceding clause (ii), shall
undertake to keep all such Confidential Information confidential and shall
undertake all necessary actions which a prudent person or institution would
take to keep such Confidential Information confidential.

                                       19

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Revolving
Credit Agreement as of the day and year first written above.

ATTEST:                                      SPHERION CORPORATION

/s/ Lisa Iglesias                            By: /s/ Roy G. Krause
-----------------------------                   ------------------------------
Secretary                                    Name:   Roy Krause
                                                  ----------------------------
                                             Title:  CFO
                                                  ----------------------------

ATTEST:                                      WORLDWIDE XCEED GROUP, INC.

/s/ Richard Dennerline                       By: /s/ Douglas C. Laux
-----------------------------                    -----------------------------
Secretary                                    Name:  Douglas C. Laux
                                                  ----------------------------
                                             Title: Chief Financial Officer
                                                  ----------------------------

                                       20

<PAGE>

                                    EXHIBIT A

                                   DEFINITIONS

         1. DEFINED TERMS.  The following capitalized terms, when used in this
Agreement, shall have the following respective meanings:

         "ENVIRONMENTAL LAWS" shall mean all applicable federal, state or local
statutes, laws ordinances, codes, rules, regulations and guidelines (including
consent decrees and administrative orders) relating to public health and safety
and protection of the environment including, but not limited to, the
Comprehensive Environmental Response Compensation and Liability Act of 1980, as
amended ("CERCLA"), and the Comprehensive Environmental Response Compensation
Liability Information Systems List ("CERCLIS").

         "HAZARDOUS MATERIAL" shall mean:

                  (a)      any "hazardous substance", as defined by CERCLA;

                  (b)      any "hazardous waste", as defined by the Resource
                           Conservation and Recovery Act, as amended;

                  (c)      any petroleum product; or

                  (d)      any pollutant or contaminant or hazardous, dangerous
                           or toxic chemical, material or substance within the
                           meaning of any other applicable federal, state or
                           local law, regulation, ordinance or requirement
                           (including consent decrees and administrative orders)
                           relating to or imposing liability or standards of
                           conduct concerning any hazardous, toxic or dangerous
                           waste, substance or material, all as amended or
                           hereafter amended.

         "MATERIAL ADVERSE EFFECT" shall mean (A) a materially adverse effect on
the assets, business, operations, properties or condition (financial or
otherwise) of the Borrower, (B) an impairment of the ability of the Borrower to
perform any of its obligations hereunder or under the Master Revolving Credit
Note, or (C) an impairment of the validity or enforceability of, or an
impairment of the rights, remedies or benefits available to the Lender under
this Agreement or the Master Revolving Credit Note or (D) any significant
diminution of the amount which the Lender would be likely to receive (after
giving consideration to delays in payment and costs of enforcement) in the
liquidation of any of the Collateral.

         "SECURITIES LAWS" means the Securities Act of 1933, as amended, the
Securities and Exchange Act of 1934, as amended,

                                       A-1
<PAGE>

the Investment Borrower Act of 1940, as amended, the Investment Advisors Act of
1940, as amended, the Trust Indenture Act of 1939, as amended, and the rules and
regulations promulgated under any of the foregoing.

         2. OTHER DEFINED TERMS. The following capitalized terms, when used in
this Agreement without definition, shall have the meanings set forth in the
Sections of this Agreement indicated below:

<TABLE>
<CAPTION>

<S>                                                  <C>
DEFINED TERM                                         SECTION REFERENCE
Agreement                                            Preamble
Borrower                                             Preamble
Borrower Financial Statements                        Section 8.2(d)
Borrower SEC Reports                                 Section 8.2(a)
Borrower Termination Date                            Section 7
CERCLA                                               Definition of Environmental Laws
CERCLIS                                              Definition of Environmental Laws
Code                                                 Section 12.11
Collateral                                           Section 11
Commitment                                           Section 2
Confidential Information                             Section 22
Credit Facility                                      First Whereas clause
Draw Certificate                                     Section 3
Draw Request                                         Section 3
ERISA                                                Section 8.12
Events of Default                                    Section 12.1
Extraordinary Corporate Events                       Section 12.2
Fair Market Value                                    Section 10.8
Joint Marketing Agreement                            Section 12.1
Interest Rate                                        Section 5
Lender                                               Preamble
Loan(s)                                              Section 2
Master Revolving Credit Note                         Section 2
Obligations                                          Section 11
Permitted Liens                                      Section 10.2
SEC                                                  Section 8.2(a)
Termination Date                                     Section 2
Warrant Agreement                                    Second Whereas clause
Warrants                                             Second Whereas clause
Warrant Shares                                       Second Whereas clause
</TABLE>

                                      A-2

<PAGE>

                                    EXHIBIT B

                          MASTER REVOLVING CREDIT NOTE

$5,000,000                                                     November 15, 2000
                                                              New York, New York

         FOR VALUE RECEIVED, the undersigned, WORLDWIDE XCEED GROUP, INC., a
Delaware corporation (the "Borrower"), promises to pay to the order of SPHERION
CORPORATION, a Delaware corporation (the "LENDER"), the principal sum of FIVE
MILLION DOLLARS ($5,000,000), or so much of those Loans as may be outstanding
from time to time pursuant to that Revolving Credit Agreement dated the date
hereof by and between the Lender and the Borrower (the "REVOLVING CREDIT
AGREEMENT"), together with interest on the principal balance (the "PRINCIPAL
BALANCE") from time to time outstanding hereunder at a fluctuating rate equal to
two percent (2%) per annum over the "Prime Rate" as publicly announced in the
"Money Rates" section of the WALL STREET JOURNAL (the "INTEREST RATE"). The rate
of interest shall be calculated on the first business day of each calendar
quarter for all Loans outstanding during such calendar quarter. Payments to the
Lender of principal and/or accrued interest under this Note shall be made to
Lender by wire transfer in immediately available funds to an account designated
by Lender to the Borrower in writing or, at Lender's option, to Spherion
Corporation, 2050 Spectrum Boulevard, Fort Lauderdale, Florida, 33309, or at
such other place as the Lender may from time to time designate to the Borrower
in writing. All capitalized terms used but not defined herein shall have the
respective meanings set forth in the Revolving Credit Agreement.

         Interest shall be payable by the Borrower only in arrears, commencing
on the 1st day of the month following the date of this Master Revolving Credit
Note (the "NOTE") and thereafter on the 1st day of each of month until the
Termination Date (as defined below).

         This Note shall mature on the earlier to occur (the "MATURITY DATE") of
(i) May 15, 2002 , (II) the occurrence of an "Event of Default" under and as
defined in Section 12.1 of the Revolving Credit Agreement, (III) the occurrence
of an "Extraordinary Corporate Event" under and as defined in Section 12.2 of
the Revolving Credit Agreement , and (iv) the Borrower Termination Date, at
which time the entire unpaid Principal Balance and any accrued and unpaid
interest shall be due and payable. The Borrower may prepay the Principal Balance
of and/or accrued and unpaid interest on this Note, in whole or in part, at any
time and from time to time prior to the Maturity Date without premium or
penalty; provided, however, that any such prepayments of the Principal Balance
shall be made only in multiples of $50,000. Any amounts prepaid by the Borrower
may be reborrowed; provided, however, that at no time may the outstanding
Principal Balance hereof exceed $5,000,000.

                                      B-1
<PAGE>

         All payments made hereunder shall be credited first to accrued and
unpaid interest and then to principal; provided that, upon an Event of Default
or an Extraordinary Corporate Event (as defined in the Revolving Credit
Agreement), the Lender may, in its sole discretion, and in such order as it may
choose, apply any payment to interest, principal and/or lawful charges and
expenses then accrued.

         Interest hereunder shall be charged only on the sums advanced from the
date of advance to the date of repayment. Notwithstanding anything to the
contrary contained herein, the Borrower does not intend or expect to pay, nor
does the Lender intend or expect to charge, accept or collect any interest which
when added to any other charge upon the Principal Balance, shall be in excess of
the highest lawful rate allowable under the laws of the State of Florida or the
United States of America, whichever is higher or unlimited. Should acceleration,
prepayment or any other charges upon the Principal Balance or any portion
thereof result in the computation or earning of interest in excess of the
highest lawful rate allowable under the laws of the State of Florida or the
United States of America, whichever is higher or unlimited, then any and all
such excess is hereby waived and shall be applied against the remaining
Principal Balance, if any, and thereafter refunded to the Borrower.

         If any Event of Default or an Extraordinary Corporate Event occurs, the
Lender may, at its option, accelerate maturity, and the unpaid Principal Balance
hereof and all unpaid accrued interest shall thereupon immediately become due
and payable without presentment, demand, notice or protest, and the Lender shall
have the right to set off against this Note all money owed by Lender in any
capacity to the Borrower. Interest shall accrue at a fluctuating rate per annum
equal to the Interest Rate plus two percent (2%) per annum, on the entire unpaid
principal amount hereof, from the date of such Event of Default or Extraordinary
Corporate Event until the date the unpaid principal amount hereof is paid in
full. In addition, the occurrence of an Event of Default or Extraordinary
Corporate Event shall immediately terminate the Borrower's right to further
borrowings under this Master Revolving Credit Note. The Borrower further agrees
to pay all costs of collection, including attorneys' fees (inclusive of any
bankruptcy proceedings), in case the principal of this Note or any interest
thereof is not paid when due.

         No delay or omission on the part of the Lender in exercising any right
hereunder shall operate as a waiver of such right or any other right under this
Note. In addition, the waiver by the Lender of the Borrower's prompt and
complete performance of, or default under, any provision of this Note shall not
operate or be construed as a waiver of any subsequent breach or default, and the
failure by the Lender to exercise any right or remedy which it may possess
hereunder shall not operate or be construed as a bar to the exercise of any such
right or remedy upon the occurrence of any subsequent breach or default.

         This Note may not be modified, amended or terminated, except in a
writing executed by the Borrower and the Lender.

                                      B-2
<PAGE>

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

         This Note shall be binding upon the Borrower and its successors and
permitted assigns; provided that Borrower may not assign this Note without
Lender's prior written consent.

                                      B-3
<PAGE>

         IN WITNESS WHEREOF, the Borrower has executed and delivered this Note
on the 15th day of November, 2000.

                           WORLDWIDE XCEED GROUP, INC.

                           By:  /s/   Douglas C. Laux
                               -----------------------------------
                               Name:  Douglas C. Laux
                               Title: Chief Financial Officer

ATTEST:

/s/ Richard Dennerline
-----------------------------
Secretary

                                      B-4
<PAGE>

                                  SCHEDULE 8.1
                  SUBSIDIARIES, PARTNERSHIPS AND JOINT VENTURES

None, except:

         Pulse Interactive B.V., a wholly-owned subsidiary.

Selling stockholders of Pulse Interactive have the right to receive up to two
(2) subsequent earn-out payments of Xceed Common Stock during the first year
following the acquisition (the acquisition is dated February 2000). The first
earn-out payment became payable in September 2000 in the amount of approximately
82,000 shares of Common Stock. The second earn-out payment, if any, is due in
March 2001.

                                       S-1
<PAGE>

                                SCHEDULE 8.2 (D)
                            MATERIAL ADVERSE CHANGES

None, except as disclosed in the Borrower's Form 10-K for Fiscal Year Ending
August 31, 2000

                                      S-2
<PAGE>

                                  SCHEDULE 8.3
                                   LITIGATION

NONE, EXCEPT:

-    VANCE SPEARS V. X-CEED, INC. This action was filed in the Los Angeles
     Superior Court and was recently removed to the United States District
     Court, Central District of California, No. CV-00-10531 LGB (AIJx).
     Plaintiff alleges common law claims of fraud, negligent misrepresentation,
     and breach of contract premised upon his claim that he was offered
     employment with the company, quit his job in reliance on that offer, and
     then was told that there would be no job position for him. The amount of
     plaintiff's alleged damages is not yet clear. On the one hand, plaintiff
     has denied that his alleged damages are less than $125,000. On the other
     hand, he states that his lost income was $21,450 as of August 31, 2000,
     that he has also lost benefits and that his lost income continues at the
     rate of about $15,000 per year. Plaintiff has filed a motion to remand the
     action to state court, which motion is set for hearing on November 27,
     2000. At this juncture, in light of the fact that plaintiff's deposition
     has yet to be taken and discovery has been limited, it is premature to
     evaluate the Company's exposure.

-    JEANNE LAHAIE V. XCEED INC. This claim is currently pending before the
     United States Equal Employment Opportunity Commission, Charge No.
     370A01126, in San Francisco, California. Plaintiff alleges that she was
     sexually harassed and that she was retaliated against for having brought
     the harassment to the attention of management. On behalf of the Company, we
     filed a position statement with the EEOC on or about September 19, 2000,
     denying the allegations. The EEOC is currently investigating this matter.
     At this juncture, it is premature to evaluate the company's exposure.

-    YETUNDE A. JUDE V. XCEED INC. This claim was filed with the United States
     Equal Employment Opportunity Commission, Charge No. 110A03544, in Atlanta,
     Georgia. Plaintiff claimed that she had been discriminated against on the
     basis of her race and retaliated against, presumably because she complained
     about alleged unfair treatment by her team members. On behalf of the
     Company, we filed a position statement with the EEOC on or about September
     8, 2000. On September 29, 2000, the EEOC issued a determination that there
     was insufficient evidence to support plaintiff's claims, and it advised
     plaintiff of her right to sue. Plaintiff has 90 days from her receipt of
     that notice to file a lawsuit alleging discrimination.

-    JOHN HALL V. XCEED INC. This claim was filed on about August 3, 2000 with
     the United States Equal Employment Opportunity Commission ("EEOC"), Charge
     No. 160A02438, in New York, New York and has been resolved by the EEOC in
     Xceed's favor.

                                      S-3
<PAGE>

-    BRENDA ISAAC V. XCEED, INC., MCLAUGHLIN & STERN, L.L.P., WERNER G. HAASE,
     AND RICHARD J. BLUMBERG. 00 Civ. 7461, filed in the United States District
     Court for the Southern District of New York on October 3, 2000. The
     complaint alleges violations of Section 10(b) of the Securities and
     Exchange Act of 1934 and common law fraud arising from the 1999 merger of
     Xceed Motivation Atlanta, Inc. and Xceed, Inc., as well as breach of
     contract arising from certain provisions of the merger agreement. Plaintiff
     demands $2,217,989.51 in compensatory damages and $100 million in punitive
     damages. A response is not yet due. In the event that the litigation
     proceeds, the Company has informed us that it intends to vigorously contest
     and defend against the allegations.

-    TARGET CAPITAL CORP. AND YITZ GROSSMAN V. X-CEED, INC., A NEW YORK
     CORPORATION FORMERLY KNOWN AS WATER-JEL TECHNOLOGIES, INC., WATER-JEL
     TECHNOLOGIES, INC., A NEW YORK CORPORATION, AND X-CEED, INC., A DELAWARE
     CORPORATION, A/K/A XCEED, INC., A DELAWARE CORPORATION, 00 Civ. 604424,
     filed in New York Supreme Court on October 12, 2000. The complaint alleges
     breaches of contract relating to two consulting agreements between
     plaintiffs and Water-Jel Technologies, Inc. Plaintiff demands compensatory
     damages in the amount of $681,115 plus interest. In the event that the
     litigation proceeds, the Company has informed us that it intends to
     vigorously contest and defend against the allegations.

-    On May 26, 2000, Xceed filed a lawsuit in the Superior Court of N.Y.,
     Commercial Division for $1,500,000 for services performed. Drinks
     counterclaimed on July 21, 2000 for $14,000,000 alleging Xceed's poor
     performance caused Drinks.com Inc. to loose projected revenue. Xceed has
     filed a motion to dismiss Drinks counterclaim.

-    Although no suit has been filed, Xceed is aware of a potential claim by a
     former client, ForestFactory, Inc., regarding what it contends were
     substandard services supplied by Xceed. ForestFactory, Inc. has disputed
     the two remaining and outstanding invoices in their entirety, an aggregate
     amount of $1,418,563.70. Xceed and ForestFactory have addressed
     ForestFactory's grievances in good faith negotiations, and have arrived at
     what appears at this time to be a final resolution and settlement. Said
     final resolution and settlement has been reduced to a written agreement by
     Xceed's in-house legal department and counsel for ForestFactory, but the
     agreement has not, as of the date of this letter, been signed by either
     party.

We are aware of three claims for stock options against the Company, none of
which has been escalated to litigation:

- Graham Barron claims he is entitled to 11,000 Methodfive stock options. We do
not believe his claim has merit because he failed to timely exercise his stock
options.

- Gregg Rock claims he was deprived of the opportunity to purchase 7,500
Methodfive stock options at the strike price. We do not believe his claim has
merit because the Company is in no way responsible for Mr. Rock's failure to
exercise his options.

                                      S-4
<PAGE>

- Rebecca Stupak raised a claim for the option to purchase 1,900 shares of
Methodfive stock. The Company has reached a settlement with Ms. Stupak.

                                      S-5
<PAGE>

                                  SCHEDULE 8.5
                                FICTITIOUS NAMES

NONE, EXCEPT:

Xceed Inc.
X-Ceed, Inc.
Water-Jel Technologies, Inc., a division which has been sold and discontinued
Journeycorp, a division which has been sold and discontinued

Names of companies acquired by the Borrower by merger:

     5th Floor Interactive, LLC
     Distributed Systems Solutions, Inc.
     Catalyst Consulting Services, Inc.
     Big Theory, LLC
     Sterling Carteret, Inc.
     Methodfive Inc.
     Zabit and Associates, Inc.
     Reset, Inc.
     Mercury Seven, Inc.
     Enterprise Solution Group, Inc.

None of the foregoing companies survived any such mergers.

Pulse Interactive, B.V., as subsidiary

                                      S-6
<PAGE>

                                  SCHEDULE 8.9
                                  ENVIRONMENTAL

                                    - NONE -

                                      S-7
<PAGE>

                                  SCHEDULE 8.12
                                      ERISA

                                    - NONE -

                                      S-8
<PAGE>

                                  SCHEDULE 10.1
                              EXISTING INDEBTEDNESS

NONE, EXCEPT:

(i)      Two existing Chase Manhattan Bank Letters of Credit in the amounts of
         $322,569.00 and $1,316,215.50.

(ii)     One Chase Manhattan Bank Unsecured Line of Credit in the amount of
         $5,000,000.00.

                                      S-9
<PAGE>

                                  SCHEDULE 10.2
                                  ENCUMBRANCES

None, except***:

1.   Debtor:  Catalyst Consulting Services, Inc.
     Secured Party:  First Security Bank, N.A. Small Business Loan Servicing
     Jurisdiction:  Department of Commerce/UCC Division, Utah Secretary of State
     Original File Number:  98628420
     Original File Date:  12/22/98
     Collateral:  Inventory, Accounts, General Intangibles, Equipment, Products
     and Proceeds

2.   Debtor:  Methodfive LLC
     Secured Party:  Fleet Bank, N.A.
     Jurisdiction:  New York Department of State
     Original File Number:  97209968
     Original File Date:  10/09/97
     Collateral:  Accounts, Accounts Receivable, Contract Rights, General
     Intangibles, Chattel Paper, Inventory, Machinery, Equipment, Fixtures,
     Products and Proceeds

3.   Debtor: X-Ceed, Inc.
     Secured Party:  The Chase Manhattan Bank
     Jurisdiction:  New York Department of State
     Original File Number:  99254330
     Original File Date:  12/20/99
     Collateral: Inventory, Equipment, Accounts, Fixtures, Chattel Paper,
     General Intangibles, Products and Proceeds

4.   Debtor:  5th Floor Interactive
     Secured Parties: Rockford Industries, Inc.; Chase Bank of Texas, N.A.
     National Association, as Trustee
     Jurisdiction:  New York Department of State
     Original File Number:  98243792
     Original File Date:  11/17/98
     Collateral: Equipment, Inventory, Accounts, Machinery, Fixtures, All
     Assets, Proceeds

The encumbrances set forth in items 1 - 4 above need to be released or
subordinated as to accounts receivable in a form satisfactory to Lender, in each
case, prior to the making of the initial loan under the Revolving Credit
Agreement.

                                      S-10
<PAGE>

***This report is subject to change based on those outstanding lien search
reports.

                                      S-11
<PAGE>

                                  SCHEDULE 10.4
                          EXISTING EXTENSIONS OF CREDIT

                                      None

                                      S-12<PAGE>

                                                              EXECUTION VERSION

                                                                  EXHIBIT 10.10
================================================================================

                                WARRANT AGREEMENT

                                 by and between

                          WORLDWIDE XCEED GROUP, INC.,

                                       and

                              SPHERION CORPORATION

                    ----------------------------------------

                          Dated as of November 15, 2000
                    ----------------------------------------

================================================================================

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>

                                                                                                 Page
<S>     <C>                                                                                      <C>
1.      GRANT.....................................................................................1

2.      WARRANT CERTIFICATES......................................................................1

3.      EXERCISE OF WARRANT.......................................................................1

4.      ISSUANCE OF CERTIFICATES..................................................................2

5.      PRICE.....................................................................................3
   5.1    INITIAL AND ADJUSTED EXERCISE PRICES....................................................3
   5.2    EXERCISE PRICE..........................................................................3

6.      REGISTRATION RIGHTS.......................................................................3
   6.1    REGISTRATION UNDER THE SECURITIES ACT OF 1933...........................................3
   6.2    REGISTRABLE SECURITIES..................................................................3
   6.3    PIGGYBACK REGISTRATION..................................................................3
   6.4    S-3 REGISTRATION........................................................................4
   6.5    COVENANTS OF THE COMPANY WITH RESPECT TO REGISTRATION...................................5
   6.6    REPORTS UNDER THE 1934 ACT..............................................................6
   6.7    ASSIGNMENT OF REGISTRATION RIGHTS.......................................................7
   6.8    LIMITATIONS ON SUBSEQUENT SUPERIOR REGISTRATION RIGHTS..................................7
   6.9    EXPENSES OF REGISTRATION................................................................7
   6.10   INDEMNIFICATION.........................................................................7
   6.11   ASSIGNMENT OF REGISTRATION RIGHTS......................................................10
   6.12   "MARKET STAND-OFF" AGREEMENT...........................................................10

7.      ADJUSTMENTS OF EXERCISE PRICE AND NUMBER OF SECURITIES...................................10
   7.1    SUBDIVISION AND COMBINATION............................................................11
   7.2    ADJUSTMENT IN NUMBER OF SECURITIES.....................................................11
   7.3    RECLASSIFICATION, CONSOLIDATION, MERGER, ETC...........................................11
   7.4    NO ADJUSTMENT OF EXERCISE PRICE IN CERTAIN CASES.......................................11
   7.5    DIVIDENDS AND OTHER DISTRIBUTIONS WITH RESPECT TO OUTSTANDING SECURITIES...............11
   7.6    SUBSCRIPTION RIGHTS FOR SHARES OF COMMON STOCK OR OTHER SECURITIES.....................12
   7.7    ISSUANCE OF SECURITIES BELOW FAIR MARKET VALUE.........................................12

8.      EXTRAORDINARY CORPORATE EVENTS...........................................................12

9.      EXCHANGE AND REPLACEMENT OF WARRANT CERTIFICATES.........................................13

10.     ELIMINATION OF FRACTIONAL INTERESTS......................................................13

11.     RESERVATION AND LISTING OF SECURITIES....................................................13

12.     NOTICES TO WARRANT HOLDERS...............................................................13

13.     NOTICES..................................................................................14

14.     SUPPLEMENTS AND AMENDMENTS...............................................................15

15.     SUCCESSORS...............................................................................16
</TABLE>
                                       i

<PAGE>

<TABLE>
<CAPTION>

<S>     <C>                                                                                      <C>
16.     GOVERNING LAW............................................................................16

17.     BENEFITS OF THIS AGREEMENT...............................................................16

18.     COUNTERPARTS.............................................................................16
</TABLE>

                                     ii

<PAGE>

                                EXHIBITS

EXHIBIT A                       Definitions

EXHIBIT B                       Warrant Certificate

                                      iii

<PAGE>

                                WARRANT AGREEMENT

         THIS WARRANT AGREEMENT dated as of November 15, 2000 by and between
WORLDWIDE XCEED GROUP, INC., a Delaware corporation (the "COMPANY"), and
SPHERION CORPORATION, a Delaware corporation (hereinafter referred to as
"SPHERION").

                              W I T N E S S E T H:
         WHEREAS, the Company proposes to issue to Spherion warrants
("WARRANTS") to purchase up to 3,500,000 shares (the "SHARES") of common stock
of the Company, par value $0.01 per share (the "COMMON STOCK"); and

         WHEREAS, Spherion and the Company desire to enter into a Revolving
Credit Agreement (the "REVOLVING CREDIT AGREEMENT") dated the date hereof,
whereby Spherion shall make available to the Company a revolving credit facility
in the aggregate principal amount of up to $5,000,000; and

         WHEREAS, in consideration for and as a condition to Spherion entering
into the Revolving Credit Agreement, the Company has agreed to issue to Spherion
the Warrants. All capitalized terms used but not defined herein shall have the
meanings set forth in EXHIBIT A hereto.

         NOW, THEREFORE, in consideration of the premises, the agreements herein
set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

         1.       GRANT.

         Spherion, and/or its designees are hereby granted the right to
purchase, at any time from November 15, 2000 until 5:00 P.M., New York time, on
November 15, 2005 (the "WARRANT EXERCISE TERM"), up to 3,500,000 fully-paid and
non assessable Shares at an initial exercise price (subject to adjustment as
provided in Section 7 hereof) of $1.6875 per share.

         2.       WARRANT CERTIFICATES.

         The warrant certificates (the "WARRANT CERTIFICATES") delivered and to
be delivered pursuant to this Agreement shall be in the form set forth in
EXHIBIT B hereto and made a part hereof, with such appropriate insertions,
omissions, substitutions and other variations as required or permitted by this
Agreement.

         3.       EXERCISE OF WARRANT.

         The Warrants initially are exercisable at a price of $1.6875 per share
of Common Stock purchased, payable (I) in cash or (II) by wire transfer if
immediately available funds to

                                       1
<PAGE>

an account designated in writing by the Company or (III) by check to the order
of the Company, or (IV) any combination of cash, wire transfer, or check,
subject to adjustment as provided in Section 7 hereof. Upon surrender of the
Warrant Certificate with the annexed Form of Election to Purchase duly executed,
together with payment of the Exercise Price (as hereinafter defined) for the
Shares purchased, at the Company's principal offices in New York (currently
located at 223 Broadway, New York, New York, 10279) the registered holder of a
Warrant Certificate ("HOLDER" or "HOLDERS") shall be entitled to receive a
certificate or certificates for the Shares so purchased. The purchase rights
represented by each Warrant Certificate are exercisable at the option of the
Holder hereof, in whole or in part (but not as to fractional Shares). In the
case of the purchase of less than all the Shares purchasable under any Warrant
Certificate, the Company shall cancel said Warrant Certificate upon the
surrender thereof and shall execute and deliver a new Warrant Certificate of
like tenor for the balance of the Shares purchasable thereunder.

         4.       ISSUANCE OF CERTIFICATES.

         Upon the exercise of the Warrants, the issuance of certificates for the
Shares shall be made forthwith (and in any event within three business days
thereafter) and such certificates shall (subject to the provisions of this
Section 4) be issued in the name of, or in such names as may be directed by, the
Holder thereof. The Warrant Certificates and the certificates representing the
Shares shall be executed on behalf of the Company by the manual or facsimile
signature of the present or any future Chief Executive Officer, Chief Financial
Officer or Chief Operating Officer of the Company, attested to by the manual or
facsimile signature of the present or any future Secretary or Assistant
Secretary of the Company. Certificates representing the Shares shall be dated
the date of execution by the Company upon initial issuance, division, exchange,
substitution or transfer.

         Upon exercise, in part or in whole, of the Warrants, certificates
representing the Shares (the "WARRANT SECURITIES"), shall bear a legend
substantially similar to the following:

                  "The securities represented by this certificate have not been
                  registered under the Securities Act of 1933, as amended (the
                  "ACT"), nor any state securities laws and may not be offered
                  or sold except (I) pursuant to an effective registration
                  statement under the Act and applicable state securities laws,
                  (II) to the extent applicable, pursuant to Rule 144 under the
                  Act (or any similar rule under such Act relating to the
                  disposition of securities) or (III) upon the delivery by the
                  holder to the Company of an opinion of counsel, reasonably
                  satisfactory to counsel to the issuer, stating that an
                  exemption from registration under such Act or applicable state
                  securities laws is available."

                                       2
<PAGE>

         5.       PRICE.

                  5.1 INITIAL AND ADJUSTED EXERCISE PRICES. The initial exercise
price of each Warrant shall be $1.6875 per Share. The adjusted exercise price
shall be the price which shall result from time to time from any and all
adjustments of the initial exercise price in accordance with the provisions of
Section 7 hereof.

                  5.2 EXERCISE PRICE. The term "EXERCISE PRICE" herein shall
mean the initial exercise price or the adjusted exercise price, depending upon
the context.

         6.       REGISTRATION RIGHTS.

                  6.1 REGISTRATION UNDER THE SECURITIES ACT OF 1933. Neither the
Warrants nor the Shares have been registered for purposes of public distribution
under the Securities Act of 1933, as amended (the "SECURITIES ACT").

                  6.2 REGISTRABLE SECURITIES. As used herein the term
"REGISTRABLE SECURITY" means the Shares and any shares of Common Stock issued
upon any stock split or stock dividend in respect of such Shares; PROVIDED,
HOWEVER, that with respect to any particular Registrable Security, such security
shall cease to be a Registrable Security when, as of the date of determination,
(i) that it has been effectively registered under the Securities Act and
disposed of pursuant thereto, (ii) registration under the Securities Act is no
longer required for subsequent public distribution of such security pursuant to
Rule 144 under the Securities Act (or any successor provision), or (iii) it has
ceased to be outstanding. The term "REGISTRABLE SECURITIES" means any and/or all
of the securities falling within the foregoing definition of a "REGISTRABLE
SECURITY." In the event of any merger, reorganization, consolidation,
recapitalization or other change in corporate structure affecting the Common
Stock, such adjustment shall be made in the definition of "REGISTRABLE SECURITY"
as is appropriate in order to prevent any dilution or enlargement of the rights
granted pursuant to this Section 6.

                  6.3 PIGGYBACK REGISTRATION. If, at any time after the date
hereof, the Company proposes to prepare and file any new registration statement
or post-effective amendments thereto covering equity or debt securities of the
Company, or any such securities of the Company held by its shareholders (in any
such case, other than pursuant to Form S-4 or Form S-8 or successor form) (for
purposes of this Section 6, collectively, the "REGISTRATION STATEMENT"), it will
give written notice of its intention to do so ("NOTICE"), at least twenty (20)
business days prior to the filing of each such Registration Statement, to all
Holders of the Warrants and the Registrable Securities. Upon the written request
of such a Holder (a "REQUESTING HOLDER"), made within twenty (20) business days
after receipt of the Notice, that the Company include any of the Requesting
Holder's Registrable Securities in the proposed Registration Statement, the
Company shall, as to each such Requesting Holder, effect the registration under
the Securities Act of the Registrable Securities which it has been so requested
to register ("PIGGYBACK REGISTRATION"), at the Company's sole cost and expense
(including the expense of the Holder's counsel) and at no cost or expense to

                                       3
<PAGE>

the Requesting Holders (other than underwriting discounts and commissions);
PROVIDED, however, that if, in the written opinion of the Company's managing
underwriter, if any, for such offering, the inclusion of all or a portion of the
Registrable Securities requested to be registered, when added to the securities
being registered by the Company or the selling shareholder(s), will exceed the
maximum amount of the Company's securities which can be marketed without
materially adversely affecting the entire offering, then the Company may exclude
from such offering all or a portion of the Registrable Securities which it has
been requested to register.

         If securities are proposed to be offered for sale pursuant to such
Registration Statement by other security holders of the Company and the total
number of securities to be offered by the Requesting Holders and such other
selling security holders is required to be reduced pursuant to a request from
the managing underwriter (which request shall be made only for the reason and in
the manner set forth above) the aggregate number of Registrable Securities to be
offered by Requesting Holders pursuant to such Registration Statement shall
equal the number which bears the same ratio to the maximum number of securities
that the underwriter believes may be included for all the selling security
holders (including the Requesting Holders) as the original number of Registrable
Securities proposed to be sold by the Requesting Holders bears to the total
original number of securities proposed to be offered by the Requesting Holders
and the other selling security holders. Notwithstanding anything to the contrary
contained herein, the number of Registrable Securities to be included in any
registration pursuant to this Section 6.3 shall be subject to the contractual
rights granted on or prior to the date hereof by the Company to any other holder
of its securities.

                  6.4  S-3 REGISTRATION. (a) Any Holder of the Registrable
Securities shall have the right (which right is in addition to the piggyback
registration rights provided for under Section 6.3 hereof), exercisable by
written notice to the Company (the "S-3 REGISTRATION REQUEST"), to have the
Company prepare and file with the Securities and Exchange Commission (the
"COMMISSION"), at the sole expense of the Company (excluding any underwriting or
selling commissions but including the fees and expenses of the Holder's
counsel), a Form S-3 Registration Statement and such other documents, including
a prospectus, as may be necessary (in the opinion of both counsel for the
Company and counsel for such Holder) in order to comply with the provisions of
the Securities Act, so as to permit a public offering and sale of the
Registrable Securities by the Holders thereof until the later of (i) the sale of
all of the Registrable Securities or (ii) nine (9) consecutive months; provided
that the Company shall not be obligated to file such Form S-3 Registration
Statement if (x) the Holders, together with the holders of any other securities
of the Company entitled to inclusion in such registration, propose to sell
Registrable Securities and such other securities (if any) at an aggregate price
to the public of less than $1,000,000 or (y) two Form S-3 Registration
Statements filed pursuant to S-3 Registration Requests have been declared
effective by the Commission within the preceding twelve months.

                                       4
<PAGE>

                          (b) The Company covenants and agrees to give written
notice of any S-3 Registration Request to all Holders of the Registrable
Securities within ten (10) days from the date of the Company's receipt of any
such S-3 Registration Request. After receiving notice from the Company as
provided in this Section 6.4(b), Holders of Registrable Securities may request
the Company to include their Registrable Securities in the Registration
Statement to be filed pursuant to Section 6.4(a) hereof by notifying the Company
of their decision to have such securities included within ten (10) days of their
receipt of the Company's notice.

                           (c) Notwithstanding  the foregoing,  if the Company
shall inform the Holders requesting the filing of a registration statement
pursuant to this Section 6.4 that, in the good faith judgment of the Board of
Directors of the Company, it would be seriously detrimental to the Company and
its shareholders for such Registration Statement to be filed and it is therefore
essential to defer the filing of such Registration Statement, then the Company
shall have the right to defer such filing for a period of not more than 60 days
after receipt of the request of the initiating Holders; PROVIDED, HOWEVER, that
the Company may not utilize this right more than once in any twelve (12) month
period.

                  6.5 COVENANTS OF THE COMPANY WITH RESPECT TO REGISTRATION. The
Company covenants and agrees as follows:

                           (a) In connection  with any  registration  under
Section 6.3 or 6.4 hereof, the Company shall file the Registration Statement as
expeditiously as possible and shall use its best efforts to have any such
Registration Statement declared effective at the earliest possible time, and
shall furnish each Holder of Registrable Securities such number of prospectuses
as shall reasonably be requested.

                           (b) The Company will take all necessary action which
may be required in qualifying or registering the Registrable Securities included
in a Registration Statement, for offering and sale under the securities or blue
sky laws of such states as are requested by the Holders of such securities,
provided that the Company shall not be obligated to execute or file any general
consent to service of process or to qualify as a foreign corporation to do
business under the laws of any such jurisdiction.

                           (c) The Company shall indemnify any Holder of the
Registrable Securities to be sold pursuant to any Registration Statement and any
underwriter or person deemed to be an underwriter under the Securities Act and
each person, if any, who controls such Holder or underwriter or person deemed to
be an underwriter within the meaning of Section 15 of the Securities Act or
Section 20(a) of the Securities Exchange Act of 1934, as amended ("EXCHANGE
ACT"), against all loss, claim, damage, expense or liability (including all
expenses reasonably incurred in investigating, preparing or defending against
any claim whatsoever) to which any of them may become subject under the
Securities Act, the Exchange Act or otherwise, arising from such registration
statement.

                                       5
<PAGE>

                           (d) Each of the Holders holding securities included
in any registration, shall furnish to the Company such information regarding
such Holder and the distribution proposed by such Holder as the Company may
reasonably request in writing and as shall be reasonably required in connection
with any registration, qualification or compliance referred to in this Section
6.4.

                           (e) Any Holder of Registrable Securities to be sold
pursuant to a registration statement, and its successors and assigns, shall
severally, and not jointly, indemnify, the Company, its officers and directors
and each person, if any, who controls the Company within the meaning of Section
15 of the Securities Act or Section 20(a) of the Exchange Act, against all loss,
claim, damage or expense or liability (including all expenses reasonably
incurred in investigating, preparing or defending against any claim whatsoever)
to which they may become subject under the Securities Act, the Exchange Act or
otherwise, arising from information furnished by or on behalf of such Holder, or
its successors or assigns, for specific inclusion in such Registration
Statement.

                  6.6 REPORTS UNDER THE 1934 ACT. With a view to making
available to Spherion the benefits of Rule 144 promulgated under the Act and any
other rule or regulation of the SEC that may at any time permit Spherion to sell
securities of the Company to the public without registration, the Company agrees
to use its commercially reasonable efforts to:

                           (a) make and keep available public information
concerning the Company, as those terms are understood and defined in the
Commission's Rule 144, at all times;

                           (b) prepare and file with the Commission such
amendments and supplements to such registration statement and the prospectus
used in connection with such Registration Statement as may be necessary to
comply with the provisions of the Securities Act with respect to the disposition
of all securities covered by such Registration Statement;

                           (c) furnish to the Holders such numbers of copies of
a prospectus, including a preliminary prospectus, in conformity with the
requirements of the Securities Act, and such other documents as they may
reasonably request in order to facilitate the disposition of Registrable
Securities owned by them;

                           (d) in the event of any underwritten public offering,
enter into and perform its obligations under an underwriting agreement, in usual
and customary form, with the managing underwriter of such offering;

                           (e) notify each Holder of Registrable Securities
covered by such registration statement at any time when a prospectus relating
thereto is required to be delivered under the Securities Act of the happening of
any event as a result of which the prospectus included in such registration
statement, as then in effect, includes an untrue

                                       6
<PAGE>

statement of a material fact or omits to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in the
light of the circumstances then existing; and

                           (f) file with the Commission in a timely manner all
reports and other documents required of the Company under the Securities Act and
the Exchange Act.

                  6.7 ASSIGNMENT OF REGISTRATION RIGHTS. The rights to cause the
Company to register Registrable Securities pursuant to this Agreement may be
assigned (but only with all related obligations) by Spherion, provided: (a) the
Company is, as soon as practicable after such transfer, furnished with written
notice of the name and address of such assignee and the securities with respect
to which such registration rights are being assigned; and (b) such assignee
agrees in writing to be bound by and subject to the terms and conditions of this
Agreement.

                  6.8 LIMITATIONS ON SUBSEQUENT SUPERIOR REGISTRATION RIGHTS.
From and after the date of this Agreement, the Company shall not, without the
prior written consent of the Holders of a majority of the Registrable
Securities, enter into any agreement with any holder or prospective holder of
any securities of the Company that would allow such holder or prospective holder
to include securities of such Holder in any registration filed under this
Section 6 hereof in priority to the rights of the holders of the Registrable
Securities granted hereunder.

                  6.9 EXPENSES OF REGISTRATION. All expenses (other than
underwriting discounts and commissions, which shall be paid by the participating
Holders) incurred in connection with registrations, filings or qualifications
pursuant to this Section 6, including (without limitation) all registration,
filing and qualification fees, printers' fees and fees and disbursements of
accountants and counsel for the Company and one counsel for the Holders shall be
borne by the Company.

                  6.10 INDEMNIFICATION.  In the event any  Registrable
Securities are included in a Registration Statement under this Section 6:

                           (a) To the extent  permitted by law, the Company will
indemnify and hold harmless each Holder, the partners or officers, directors and
shareholders of each Holder, legal counsel and accountants for each Holder, any
underwriter (as defined in the Securities Act) for such Holder and each person,
if any, who controls such Holder or underwriter within the meaning of the
Securities Act or the Exchange Act, against any losses, claims, damages or
liabilities (joint or several) to which they may become subject under the
Securities Act, the Exchange Act or any state securities laws, insofar as such
losses, claims, damages, or liabilities (or actions in respect thereof) arise
out of or are based upon any of the following statements, omissions or
violations (collectively a "VIOLATION"): (I) any untrue statement or alleged
untrue statement of a material fact contained in such registration statement,
including any preliminary prospectus or final prospectus contained therein or
any amendments or supplements thereto, (II) the omission or alleged omission to

                                       7
<PAGE>

state therein a material fact required to be stated therein, or necessary to
make the statements therein not misleading, or (III) any violation or alleged
violation by the Company of the Securities Act, the Exchange Act, any state
securities laws or any rule or regulation promulgated under the Securities Act,
the Exchange Act or any state securities laws; and the Company will reimburse
each such Holder, underwriter or controlling person for any legal or other
expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage, liability or action; provided, however,
that the indemnity agreement contained in this subsection 6.10(a) shall not
apply to amounts paid in settlement of any such loss, claim, damage, liability
or action if such settlement is effected without the consent of the Company
(which consent shall not be unreasonably withheld), nor shall the Company be
liable in any such case for any such loss, claim, damage, liability or action to
the extent that it arises out of or is based upon a Violation that occurs in
reliance upon and in conformity with written information furnished expressly for
use in connection with such registration by any such Holder, underwriter or
controlling person; provided further, however, that the foregoing indemnity
agreement with respect to any preliminary prospectus shall not inure to the
benefit of any Holder or underwriter, or any person controlling such Holder or
underwriter, from whom the person asserting any such losses, claims, damages or
liabilities purchased shares in the offering, if a copy of the prospectus (as
then amended or supplemented if the Company shall have furnished any amendments
or supplements thereto) was not sent or given by or on behalf of such Holder or
underwriter to such person, if required by law so to have been delivered, at or
prior to the written confirmation of the sale of the shares to such person, and
if the prospectus (as so amended or supplemented) would have cured the defect
giving rise to such loss, claim, damage or liability.

                           (b) To the extent permitted by law, each selling
Holder will indemnify and hold harmless the Company, each of its directors, each
of its officers who has signed the registration statement, each person, if any,
who controls the Company within the meaning of the Securities Act, legal counsel
and accountants for the Company, any underwriter, any other Holder selling
securities in such registration statement and any controlling person of any such
underwriter or other Holder, against any losses, claims, damages or liabilities
(joint or several) to which any of the foregoing persons may become subject,
under the Securities Act, the Exchange Act or any state securities laws, insofar
as such losses, claims, damages or liabilities (or actions in respect thereto)
arise out of or are based upon any Violation, in each case to the extent (and
only to the extent) that such Violation occurs in reliance upon and in
conformity with written information furnished by such Holder expressly for use
in connection with such registration; and each such Holder will reimburse any
person intended to be indemnified pursuant to this subsection 6.10(b), for any
legal or other expenses reasonably incurred by such person in connection with
investigating or defending any such loss, claim, damage, liability or action;
provided, however, that the indemnity agreement contained in this subsection
6.10(b) shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability or action if such settlement is effected without the consent
of the Holder (which consent shall not be unreasonably withheld).

                                       8

<PAGE>

               (c)  Promptly after receipt by an indemnified party under this
Section 6.10 of notice of the commencement of any action (including any
governmental action), such indemnified party will, if a claim in respect thereof
is to be made against any indemnifying party under this Section 6.10, deliver to
the indemnifying party a written notice of the commencement thereof and the
indemnifying party shall have the right to participate in, and, to the extent
the indemnifying party so desires, jointly with any other indemnifying party
similarly noticed, to assume the defense thereof with counsel mutually
satisfactory to the parties; provided, however, that an indemnified party
(together with all other indemnified parties that may be represented without
conflict by one counsel) shall have the right to retain one separate counsel,
with the fees and expenses to be paid by the indemnifying party, if
representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing
interests between such indemnified party and any other party represented by such
counsel in such proceeding. The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such
action, if prejudicial to its ability to defend such action, shall relieve such
indemnifying party of any liability to the indemnified party under this Section
6.10, but the omission so to deliver written notice to the indemnifying party
will not relieve it of any liability that it may have to any indemnified party
otherwise than under this Section 6.10.

               (d)  If the indemnification provided for in this Section 6.10 is
held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any loss, liability, claim, damage or expense referred to
herein, then the indemnifying party, in lieu of indemnifying such indemnified
party hereunder, shall contribute to the amount paid or payable by such
indemnified party as a result of such loss, liability, claim, damage or expense
in such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and of the indemnified party on the other in
connection with the statements or omissions that resulted in such loss,
liability, claim, damage or expense, as well as any other relevant equitable
considerations. The relative fault of the indemnifying party and of the
indemnified party shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the
omission to state a material fact relates to information supplied by the
indemnifying party or by the indemnified party and the parties' relative intent,
knowledge, access to information, and opportunity to correct or prevent such
statement or omission.

               (e)  Notwithstanding the foregoing, to the extent that the
provisions on indemnification and contribution contained in the underwriting
agreement entered into in connection with the underwritten public offering are
in conflict with the foregoing provisions, the provisions in the underwriting
agreement shall control.

               (f)  Notwithstanding the provisions of this Section 6.10, no
Holder shall be required to contribute any amount in excess of the net proceeds
received by it from the sale of Registrable Securities, less the amount of any
damages that such Holder has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission. No Person guilty of fraudulent
misrepresentation (within the meaning of

                                       9

<PAGE>

Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation.

               (g)  The obligations of the Company and Holders under this
Section 6.10 shall survive the completion of any offering of Registrable
Securities in a Rregistration Statement under this Section 6, and otherwise.

          6.11 ASSIGNMENT OF REGISTRATION RIGHTS. The rights to cause the
Company to register Registrable Securities pursuant to this Section 6 may be
assigned (but only with all related obligations) by a Holder to a transferee or
assignee of such securities of such Holder; provided: (A) the Company is, within
five (5) days after such transfer, furnished with written notice of the name and
address of such transferee or assignee and the securities with respect to which
such registration rights are being assigned; (B) such transferee or assignee
agrees in writing to be bound by and subject to the terms and conditions of this
Agreement, and (C) such assignment shall be effective only if immediately
following such transfer the further disposition of such securities by the
transferee or assignee is restricted under the Securities Act.

          6.12 "MARKET STAND-OFF" AGREEMENT. Spherion hereby agrees that it will
not, without the prior written consent of the Company, during the period
commencing on the effective date of any registration statement covering
Registrable Securities and ending on the date specified by the Company and an
underwriter of Common Stock (such period not to exceed ninety (90) days, unless
the underwriter of Common Stock requests one hundred eighty (180) days) (i)
lend, offer, pledge, sell, contract to sell, sell any option or contract to
purchase, purchase any option or contract to sell, grant any option, right or
warrant to purchase, or otherwise transfer or dispose of (other than to donees
who agree to be similarly bound), directly or indirectly, any shares of Common
Stock or any securities convertible into or exercisable or exchangeable for
Common Stock (whether such shares or any such securities are then owned by
Spherion or are thereafter acquired), or (ii) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of the Common Stock, whether any such transaction
described in clause (i) or (ii) above is to be settled by delivery of Common
Stock or such other securities, in cash or otherwise, except Common Stock
included in such registration; PROVIDED that the foregoing shall only apply if
the underwriter has required that all officers, directors and affiliates (as
defined in the Exchange Act) of the Company agree to such restrictions; and
PROVIDED FURTHER, that the restrictions contained in this Section 6.12 shall not
apply to any Registration Statement (including, but not limited to, a Form S-3
Registration Statement) covering Registrable Securities pursuant to Section 6.3
or Section 6.4 hereof.

               In order to enforce the foregoing covenant, the Company may
impose stop-transfer instructions with respect to the Registrable Securities of
Spherion until the end of such period.

     7.   ADJUSTMENTS OF EXERCISE PRICE AND NUMBER OF SECURITIES.

                                       10

<PAGE>

     The following adjustments apply to the Exercise Price of the Warrants with
respect to the Shares and the number of Shares purchasable upon exercise of the
Warrants.

          7.1  SUBDIVISION AND COMBINATION. In case the Company shall at any
time subdivide or combine the outstanding shares of Common Stock, the Exercise
Price shall forthwith be proportionately decreased in the case of subdivision or
increased in the case of combination.

          7.2  ADJUSTMENT IN NUMBER OF SECURITIES. Upon each adjustment of the
Exercise Price pursuant to the provisions of this Section 7, the number of
securities issuable upon the exercise of each Warrant shall be adjusted to the
nearest full number by multiplying the Exercise Price in effect immediately
prior to such adjustment by the number of securities issuable upon exercise of
the Warrants immediately prior to such adjustment and dividing the product so
obtained by the adjusted Exercise Price.

          7.3  RECLASSIFICATION, CONSOLIDATION, MERGER, ETC. In case of any
reclassification or change of the outstanding shares of Common Stock (other than
a change in par value to no par value, or from no par value to par value, or as
a result of a subdivision or combination), or in the case of any consolidation
of the Company with, or merger of the Company into, another corporation (other
than a consolidation or merger in which the Company is the surviving corporation
and which does not result in any reclassification or change of the outstanding
shares of Common Stock, except a change as a result of a subdivision or
combination of such shares or a change in par value, as aforesaid), or in the
case of a sale or conveyance to another corporation of the property of the
Company as an entirety, the Holders shall thereafter have the right to purchase
the kind and number of shares of stock and other securities and property
receivable upon such reclassification, change, consolidation, merger, sale or
conveyance as if the Holders were the owners of the Shares underlying the
Warrants immediately prior to any such events, at a price equal to the product
of (x) the number of shares of Common Stock issuable upon exercise of the
Warrants and (y) the Exercise Price in effect immediately prior to the record
date for such reclassification, change, consolidation, merger, sale or
conveyance as if such Holders had exercised the Warrants.

          7.4  [Intentionally Ommited]

          7.5  DIVIDENDS AND OTHER DISTRIBUTIONS WITH RESPECT TO OUTSTANDING
SECURITIES. In the event that the Company shall at any time prior to the
exercise of all Warrants declare a dividend (other than a dividend consisting
solely of shares of Common Stock or a cash dividend or distribution payable out
of current or retained earnings) or otherwise distribute to its shareholders any
monies, assets, property, rights, evidences of indebtedness, securities (other
than shares of Common Stock), whether issued by the Company or by another person
or entity, or any other thing of value, the Holders of the unexercised Warrants
shall thereafter be entitled, to exercise such Warrants prior to the record date
for such dividend so that upon the exercise of such Warrants, the Holders will

                                       11

<PAGE>

be entitled to receive the same monies, property, assets, rights, evidences of
indebtedness, securities or any other thing of value.

          7.6  SUBSCRIPTION RIGHTS FOR SHARES OF COMMON STOCK OR OTHER
SECURITIES. In the case that the Company or an affiliate of the Company shall at
any time after the date hereof and prior to the exercise of all the Warrants
issue any rights to subscribe for shares of Common Stock or any other securities
of the Company or of such affiliate to all the shareholders of the Company, the
Holders of the unexercised Warrants shall be entitled, in addition to the shares
of Common Stock or other securities receivable upon the exercise of the
Warrants, to receive such rights at the time such rights are distributed to the
other shareholders of the Company.

          7.7  ISSUANCE OF SECURITIES BELOW FAIR MARKET VALUE. The Company shall
not issue any of its securities below their fair market value without the prior
written consent of Spherion, which consent may be withheld at the sole
discretion of Spherion, other than (I) securities issued upon the exercise of
warrants, options or other convertible securities outstanding on the date hereof
or (II) securities issued upon the exercise of warrants, options or other
convertible securities granted by the Company after the date hereof, so long as
the purchase, or exercise, price of the securities underlying such warrants or
options on the date of grant was equal to or greater than the fair market of
such underlying securities on such date.

     8.   EXTRAORDINARY CORPORATE EVENTS. If there shall occur:

          (a)  A merger, reorganization, recapitalization, sale of assets (other
than in the ordinary course of business consistent with past practices)
involving the Company; or

          (b)  Any single transaction or series or related transactions in which
the shareholders of the Company immediately prior to such transaction do not own
at least a majority of the outstanding shares of capital stock following such
transaction; AND

          (c)  (I) A definitive agreement for such a transaction is entered into
by the Company on or before December 31, 2000 and (II) the transactions
contemplated thereby are ultimately consummated prior to Spherion ever advancing
any Loans (as such term is defined in the Revolving Credit Agreement) to the
Company,

THEN, and in any such event, Spherion will forfeit and return to the Company,
Warrants for the purchase of 3,000,000 of the 3,500,000 Shares issued pursuant
to this Agreement.

                                       12

<PAGE>

     9.   EXCHANGE AND REPLACEMENT OF WARRANT CERTIFICATES.

          Each Warrant Certificate is exchangeable without expense, upon the
surrender hereof by the registered Holder at the principal executive office of
the Company, for a new Warrant Certificate of like tenor and date representing
in the aggregate the right to purchase the same number of securities in such
denominations as shall be designated by the Holder thereof at the time of such
surrender. Upon receipt by the Company of evidence reasonably satisfactory to it
of the loss, theft, destruction or mutilation of any Warrant Certificate, and,
in case of loss, theft or destruction, of indemnity or security reasonably
satisfactory to it, and reimbursement to the Company of all reasonable expenses
incidental thereto, and upon surrender and cancellation of the Warrants, if
mutilated, the Company will make and deliver a new Warrant Certificate of like
tenor, in lieu thereof.

     10.  ELIMINATION OF FRACTIONAL INTERESTS.

     The Company shall not be required to issue certificates representing
fractions of Shares upon the exercise of the Warrants, nor shall it be required
to issue scrip or pay cash in lieu of fractional interests, it being the intent
of the parties that all fractional interests shall be eliminated by rounding any
fraction up to the nearest whole number of Shares.

     11.  RESERVATION AND LISTING OF SECURITIES.

     The Company shall at all times reserve and keep available out of its
authorized shares of Common Stock, solely for the purpose of issuance upon the
exercise of the Warrants, such number of shares of Common Stock as shall be
issuable upon the exercise thereof. The Company covenants and agrees that, upon
exercise of the Warrants and payment of the Exercise Price therefor, all Shares
issuable upon such exercise shall be duly and validly issued, fully paid,
nonassessable and not subject to the preemptive rights of any shareholder. As
long as the Warrants shall be outstanding, the Company shall use its best
efforts to cause all shares of Common Stock issuable upon the exercise of the
Warrants to be listed on the Nasdaq National Market.

     12.  NOTICES TO WARRANT HOLDERS.

     Nothing contained in this Agreement shall be construed as conferring upon
the Holder or Holders the right to vote or to consent or to receive notice as a
shareholder in respect of any meetings of shareholders for the election of
directors or any other matter, or as having any rights whatsoever as a
shareholder of the Company. If, however, at any time prior to the expiration of
the Warrants and their exercise, any of the following events shall occur:

               (a)  the Company shall take a record of the holders of its shares
          of Common Stock for the purpose of entitling them to receive a
          dividend or distribution payable otherwise than in cash, or a cash
          dividend or distribution payable otherwise than out of current or
          retained earnings, as

                                       13

<PAGE>

          indicated by the accounting treatment of such dividend or distribution
          on the books of the Company; or

               (b)  the Company shall offer to all the holders of its Common
          Stock any additional shares of capital stock of the Company or
          securities convertible into or exchangeable for shares of capital
          stock of the Company, or any option, right or warrant to subscribe
          therefor; or

               (c)  a voluntary dissolution, liquidation or winding up of the
          Company (other than in connection with a consolidation or merger) or a
          sale of all or substantially all of its property, assets and business
          as an entirety shall be proposed;

then, in any one or more of said events, unless (a) Spherion shall then have a
designated member serving on the Board of Directors of the Company or (b) the
Company has reported any of said events on the reports filed under the Exchange
Act, the Company shall give written notice to the Holder or Holders of such
event at least fifteen (15) days prior to the date fixed as a record date or the
date of closing the transfer books for the determination of the shareholders
entitled to such dividend, distribution, convertible or exchangeable securities
or subscription rights, options or warrants, or entitled to vote on such
proposed dissolution, liquidation, winding up or sale. Such notice shall specify
such record date or the date of closing the transfer books, as the case may be.
Failure to give such notice or any defect therein shall not affect the validity
of any action taken in connection with the declaration or payment of any such
dividend or distribution, or the issuance of any convertible or exchangeable
securities or subscription rights, options or warrants, or any proposed
dissolution, liquidation, winding up or sale.

     13.  NOTICES. Any notice required to be given hereunder shall be deemed to
have been given if in writing, and sent by facsimile transmission (with a
confirmatory copy sent by overnight courier), by courier service (with proof of
service) or hand delivery, addressed as follows:

               (a)  If to Spherion:

                    Spherion Corporation
                    2050 Spectrum Boulevard
                    Fort Lauderdale, Florida  33309
                    Attention: Lisa Iglesias
                      General Counsel
                    Telephone: (954) - 938-7600
                    Facsimile: (954) - 938-7780

                                       14

<PAGE>

               With copies to (which copy shall not constitute notice):

                    Baker & McKenzie
                    1200 Brickell Avenue
                    Miami, Florida 33131
                    Attention: Andrew Hulsh
                    Telephone: (305) 789-8900
                    Facsimile: (305) 789-8953

               (b)  If to the Company:

                    Worldwide Xceed Group, Inc.
                    233 Broadway
                    New York, New York 10279
                    Attention:  Chief Legal Officer
                    Telephone:  (312) 360-6587
                    Facsimile:  (312) 360-6575

               with a copy to (which copy shall not constitute notice):

                    Katten Muchin Zavis
                    525 West Monroe
                    Chicago, Illinois 60661
                    Attention: Linda Wight, Esq.
                    Telephone: (312) 902-5563
                    Facsimile: (312) 577-4499

or to such other address as any party shall specify by written notice so given,
and such notice shall be deemed to have been delivered as of the date so
telecommunicated, personally delivered or mailed.

     14.  SUPPLEMENTS AND AMENDMENTS.

     The Company and Spherion may from time to time supplement or amend this
Agreement without the approval of any Holders of the Warrants and/or Warrant
Securities in order to cure any ambiguity, to correct or supplement any
provision contained herein which may be defective or inconsistent with any
provisions herein, or to make any other provisions in regard to matters or
questions arising hereunder which the Company and Spherion may deem necessary or
desirable and which the Company and Spherion deem not to adversely affect the
interests of the Holders of Warrant Certificates.

                                       15

<PAGE>

     15.  SUCCESSORS.

     All the covenants and provisions of this Agreement by or for the benefit of
the Company and the Holders inure to the benefit of their respective successors
and assigns hereunder.

     16.  GOVERNING LAW.

     This Agreement and each Warrant Certificate issued hereunder shall be
deemed to be a contract made under the laws of the State of Delaware and for all
purposes shall be construed in accordance with the laws of said State.

     17.  BENEFITS OF THIS AGREEMENT.

     Nothing in this Agreement shall be construed to give to any person or
corporation other than the Company and Spherion and any other registered Holder
or Holders of the Warrant Certificates or Warrant Securities any legal or
equitable right, remedy or claim under this Agreement; and this Agreement shall
be for the sole and exclusive benefit of the Company and Spherion and any other
Holder or Holders of the Warrant Certificates or Warrant Securities.

     18.  COUNTERPARTS.

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

                                       16

<PAGE>

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

Attest:                                  WORLDWIDE XCEED GROUP, INC.

/s/  Richard Dennerline                  By: /s/ Douglas C. Laux
---------------------------------            ----------------------------------
Secretary                                Name:   Douglas C. Laux
                                         Title:  Chief Financial Officer

Attest:                                  SPHERION CORPORATION

/s/ Lisa Iglesias                        By: /s/ Roy G. Krause
---------------------------------            ----------------------------------
Secretary                                Name:   Roy Krause
                                         Title:  CFO

                                       17

<PAGE>

                                    EXHIBIT A

     1.   DEFINED TERMS. The following capitalized terms, when used in this
Agreement without definition, shall have the meanings set forth in the Sections
of this Agreement indicated below:

<TABLE>
<CAPTION>

DEFINED TERM                                            SECTION REFERENCE
------------                                            -----------------
<S>                                                     <C>
Act                                                     Section 4
Commission                                              Section 6.4
Common Stock                                            First Whereas Clause
Company                                                 Preamble
Exchange Act                                            Section 6.5(d)
Exercise Price                                          Section 5.2
Extraordinary Corporate Event                           Section 8
Holder(s)                                               Section 3
Notice                                                  Section 6.3
Piggyback Registration                                  Section 6.3
Registrable Security (ies)                              Section 6.2
Registration Statement                                  Section 6.3
Requesting Holder                                       Section 6.3
Revolving Credit Agreement                              Second Whereas Clause
S-3 Registration Request                                Section 6.4
Securities Act                                          Section 6.1
Shares                                                  First Whereas Clause
Spherion                                                Preamble
Warrant Certificates                                    Section 2
Warrant Exercise Term                                   Section 1
Warrant Securities                                      Section 4
Warrants                                                First Whereas Clause
</TABLE>

                                      A-1

<PAGE>

                                    EXHIBIT B

THE WARRANTS REPRESENTED BY THIS CERTIFICATE AND THE OTHER SECURITIES ISSUABLE
UPON EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE "ACT"), NOR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR
SOLD EXCEPT (I) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT
AND ANY APPLICABLE STATE SECURITIES LAWS, (II) TO THE EXTENT APPLICABLE,
PURSUANT TO RULE 144 UNDER SUCH ACT (OR ANY SIMILAR RULE UNDER SUCH ACT RELATING
TO THE DISPOSITION OF SECURITIES), OR (III) UPON THE DELIVERY BY THE HOLDER TO
THE COMPANY OF AN OPINION OF COUNSEL, REASONABLY SATISFACTORY TO COUNSEL FOR THE
ISSUER, STATING THAT AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR APPLICALBE
STATE SECURITIES LAWS IS AVAILABLE.

                EXERCISABLE COMMENCING NOVEMBER 15, 2000, THROUGH
                   5:00 P.M., NEW YORK TIME, NOVEMBER 15, 2005

NO.  W-1                                                      3,500,000 WARRANTS

                               WARRANT CERTIFICATE

     This Warrant Certificate certifies that Spherion Corporation, a Delaware
corporation, or its registered assigns, is the registered holder of Warrants to
purchase, at any time from November 15, 2000 until 5:00 P.M. New York City time
on November 15, 2005 ("EXPIRATION DATE"), up to 3,500,000 fully-paid and
non-assessable shares of common stock, $0.01 par value ("COMMON STOCK"), of
Worldwide Xceed Group, Inc., a Delaware corporation (the "COMPANY"), at the
initial exercise price, subject to adjustment in certain events (the "EXERCISE
PRICE"), of $1.6875 per share of Common Stock upon surrender of this Warrant
Certificate and payment of the Exercise Price at an office or agency of the
Company, but subject to the conditions set forth herein and in the Warrant
Agreement dated as of November 15, 2000 between the Company and Spherion
Corporation (the "WARRANT AGREEMENT"). Payment of the Exercise Price may be made
in cash, by certified or official bank check in New York Clearing House funds
payable to the order of the Company, or by wire transfer to an account
designated in writing by the Company, or by any combination of the foregoing.

     No Warrant may be exercised after 5:00 P.M, New York City time, on the
Expiration Date, at which time all Warrants evidenced hereby, unless exercised
prior thereto, shall thereafter be void.

     The Warrants evidenced by this Warrant Certificate are part of a duly
authorized issue of Warrants issued pursuant to the Warrant Agreement, which
Warrant Agreement is

                                      B-1

<PAGE>

hereby incorporated by reference in and made a part of this instrument and is
hereby referred to in a description of the rights, limitation of rights,
obligations, duties and immunities thereunder of the Company and the holders
(the words "holders" or "holder" meaning the registered holders or registered
holder) of the Warrants.

     The Warrant Agreement provides that upon the occurrence of certain events,
the Exercise Price and the type and/or number of the Company's securities
issuable thereupon may, subject to certain conditions, be adjusted. In such
event, the Company will, at the request of the holder, issue a new Warrant
Certificate evidencing the adjustment in the Exercise Price and the number
and/or type of securities issuable upon the exercise of the Warrants; provided,
however, that the failure of the Company to issue such new Warrant Certificates
shall not in any way change, alter, or otherwise impair, the rights of the
holder as set forth in the Warrant Agreement.

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

     Upon the exercise of less than all of the Warrants evidenced by this
Certificate, the Company shall forthwith issue to the holder hereof a new
Warrant Certificate representing such number of unexercised Warrants.

     The Company may deem and treat the registered holder(s) hereof as the
absolute owner(s) of this Warrant Certificate (notwithstanding any notation of
ownership or other writing hereon made by anyone), for the purpose of any
exercise hereof, and of any distribution to the holder(s) hereof, and for all
other purposes, and the Company shall not be affected by any notice to the
contrary.

     All terms used in this Warrant Certificate which are defined in the Warrant
Agreement shall have the meanings assigned to them in the Warrant Agreement.

     IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be
duly executed under its corporate seal.

Dated: November 15, 2000                   WORLDWIDE XCEED GROUP, INC.

                                           By: /s/ Douglas C. Laux
                                               ------------------------------
                                           Name:    Douglas C. Laux
                                           Title:   Chief Financial Officer

                                       B-2

<PAGE>

Attest:

/s/ Richard Dennerline
----------------------------------

                                      B-3

<PAGE>

                          FORM OF ELECTION TO PURCHASE

     The undersigned hereby irrevocably elects to exercise the right,
represented by this Warrant Certificate, to purchase ______ shares of Common
Stock and herewith tenders in payment for such securities a wire transfer, cash
or a certified or official bank check payable in New York Clearing House Funds
to the order of Worldwide Xceed Group, Inc. in the amount of $____________, all
in accordance with the terms hereof. The undersigned requests that a certificate
for such securities be registered in the name of _____________________________,
whose address is _______________________________________________, and that such
Certificate be delivered to ____________________________________________, whose
address is ___________________________________________________________________.

Dated:                               Signature: _______________________________
                                     (Signature must conform in all respects to
                                     name of holder as specified on the face of
                                     the Warrant Certificate.)

                    -----------------------------------------

                    -----------------------------------------
                        (Insert Social Security or Other
                          Identifying Number of Holder)

                                      B-4

<PAGE>

                               FORM OF ASSIGNMENT

             (TO BE EXECUTED BY THE REGISTERED HOLDER IF SUCH HOLDER
                 DESIRES TO TRANSFER THE WARRANT CERTIFICATE.)

     FOR VALUE RECEIVED ____________________________ hereby sells, assigns and
transfers unto ____________________________________________(Please print name
and address of transferee) this Warrant Certificate, together with all right,
title and interest therein, and does hereby irrevocably constitute and
appoint __________________________________________________________, Attorney,
to transfer the within Warrant Certificate on the books of the within-named
Company, with full power of substitution.

                                Signature: ____________________________________
                                (Signature must conform in all respects to name
                                of holder as specified on the face of the
                                Warrant Certificate)

----------------------------------------

----------------------------------------
 (Insert Social Security or Other
      Identifying Number of Assignee)

                                      B-5

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