Document:

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                                                                    Exhibit 14

                          SECURITIES PURCHASE AGREEMENT
                              DATED OCTOBER-, 1999
                  BETWEEN VENTURES IN COMMUNICATIONS H, L.L.C.,
                         ONEPOP4T COMMUNICATIONS CORP.,
                                       AND
                               CAIS INTERNET, INC.
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                          SECURITIES PURCHASE AGREEMENT

          THIS SECURITIES PURCHASE AGREEMENT (this "Agreement") is made as of
 October ------ ~, 1999 between Ventures in Communications 11, L.L.C., a
 Delaware limited liability company (the "Company"), OnePoint Communications
 Corp., a Delaware corporation ("OnePoint") and CAIS Internet, Inc., a Delaware
 corporation (the "Purchaser"). Except as otherwise indicated herein,
 capitalized terms used herein are defined in Section 9 hereof

                   The parties hereto agree as follows:

                   Section 1. Authorization and Closing.
                              --------------------------

                    I A. Authorization of the Common Units. The Company shall
 authorize the issuance and sale to the Purchaser of 10,000 of its common units
 (the "Common Units"), each having the rights and obligations set forth in
 Ventures in Communications 11, L.L.C. Operating Agreement dated as of April 29,
 1998, (as amended from time to time, the "LLC Agreement") a copy of which as
 amended through the date hereof, is attached hereto in Exhibit A.

                    IB. Purchase and Sale of the Common Units. At the Closing,
  the Company shall sell to the Purchaser and, subject to the terms and
  conditions set forth herein, the Purchaser shall purchase from the Company
  10,000 Common Units at a price of $257.40 per unit.

                    I C. The Closing. The closing of the purchases and sales of
  the Common Units (the "Closing") shall take place at the offices of Kirkland &
  Ellis, 200 E. Randolph Drive, Chicago, Illinois, at 10:00 a.m. on October 1999
  or at such other place or on such other date as may be mutually agreeable to
  the Company and Purchaser. At the Closing, the Purchaser shall pay an
  aggregate of $2,574,000 by wire transfer of immediately available funds to the
  account specified in writing by the Company and the Company and Purchaser
  shall execute and deliver to the Company a counterpart to the LLC Agreement
  (the "LLC Counterpart") indicating Purchaser's purchase of the Common Units
  and agreement to be bound by the terms thereof

                    Section 2. Conditions to the Closing.
                               --------------------------

                    2A.  Conditions to  Purchaser's  Obligations.  The
  obligation of Purchaser to purchase and pay for the  Common  Units at the
  Closing  is  subject  to the  satisfaction  as of the  Closing  of the
  following conditions:

                             (i) The representations and warranties of the
           Company contained in Section 5 hereof and OnePoint contained in
           Section 6 hereof shall be true and correct in ail material respects
           at and as of the Closing as though then made, except to the extent of
           changes caused by the transactions expressly contemplated herein, and
           the Company shall

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         have performed in all material respects all of the covenants required
         to be performed by it hereunder prior to the Closing.

                           (ii) OnePoint shall have entered into a joint
         marketing agreement in form and substance as set forth in Exhibit B
         attached hereto (the "Joint Marketing Agreement"), and the Joint
         Marketing Agreement shall be in full force and effect as of the
         Closing.

                           (iii)    The Company shall have delivered to
                           Purchaser all of the following documents:

                                    (x) an Officer's Certificate, dated the date
                           of the Closing, stating that the conditions specified
                           in Section I and paragraphs 2A(i) and (ii),
                           inclusive, have been fully satisfied;

                                    (y) certified copies of the resolutions duly
                           adopted by the Company's board of directors
                           authorizing the execution, delivery and performance
                           of this Agreement, the LLC Counterpart and the
                           issuance and sale of the Common Units; and

                                    (z)      such other documents relating to
                            the transactions contemplated by this Agreement as
                            Purchaser or its counsel may reasonably request.

                            (iv) All limited liability company and other
          proceedings taken or required to be taken by the Company in connection
          with the transactions contemplated hereby to be consummated at or
          prior to the Closing and all documents incident thereto shall be
          reasonably satisfactory in form and substance to Purchaser and its
          counsel.

                            (v) The purchase of Common ' Units by Purchaser
          hereunder shall not be prohibited by any applicable law or
          governmental rule or regulation and shall not subject such Purchaser
          to any penalty, liability or, in Purchaser's judgment, other onerous
          condition under or pursuant to any applicable law or governmental rule
          or regulation, and the purchase of the Common Units by Purchaser
          hereunder shall be permitted by laws, rules and regulations of the
          jurisdictions and governmental authorities and agencies to which such
          Purchaser is subject.

                   2B. Conditions to the Company's  Obligations.  The obligation
 of the Company to sell the Common Units to Purchaser at the Closing is subject
 to the satisfaction as of the Closing of the following conditions:

                            (i) The representations and warranties of Purchaser
          contained in Section 4 hereof shall be true and correct in all
          material respects at and as of the Closing as though then made, and
          Purchaser shall have performed in all material respects all of the
          covenants required to be performed by it hereunder prior to the
          Closing.

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                            (ii) Purchaser, or its wholly owned Subsidiary,
         shall have entered into the Joint Marketing Agreement, and the Joint
         Marketing Agreement shall be in full force and effect as of the
         Closing.

                           (iii)    Purchaser shall have delivered to the
        Company all of the following documents:

                                    (x) an Officer's Certificate, dated the date
                  of the Closing, stating that the conditions specified in
                  Section I and paragraphs 2B(i) and (ii) have been fully
                  satisfied,

                                    (y) certified copies of the resolutions duly
                   adopted by Purchaser's board of directors authorizing the
                   execution, delivery and performance of this Agreement and the
                   LLC Counterpart; and

                                     (z)     such other documents relating to
                   the transactions contemplated by this Agreement as the
                   Company or its counsel may reasonably request.

                            (iv) All corporate and other proceedings taken or
          required to be taken by Purchaser in connection with the transactions
          contemplated hereby to be consummated at or prior to the Closing and
          all documents incident thereto shall be reasonably satisfactory in
          form and substance to the Company and its counsel.

                            (v) The sale of Common Units by the Company
          hereunder shall not be prohibited by any applicable law or
          governmental rule or regulation and shall not subject the Company to
          any penalty, liability or, in the Company's judgment, other onerous
          condition under or pursuant to any applicable law or governmental rule
          or regulation, and the sale of the Common Units by the Company
          hereunder shall be permitted by laws, rules and regulations of the
          jurisdictions and governmental authorities and agencies to which such
          Company is subject.

                   2C.  Waiver.  Any  condition  specified  in this  Section 2
 may be waived by  Purchaser  or the Company,  as appropriate;  provided that no
 such waiver shall be effective against a party unless it is set forth in a
 writing executed by such party.

                   Section 3. Covenants.
                              ----------

                   3A. Financial Statements and Other Information. The Company
 shall deliver within ten days after transmission thereof, copies of all
 financial statements, proxy statements, reports and any other general written
 communications which the Company sends to its members or OnePoint sends to its
 stockholders and copies of all registration statements and all regular, special
 or periodic reports which the Company or OnePoint files with the Securities and
 Exchange Commission or with any securities exchange on which any of their
 respective securities are then listed.

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                   3B. Inspection of Property . The Company shall permit any
 representatives designated by Purchaser upon reasonable notice and during
 normal business hours, to (i) visit and inspect any of the properties of the
 Company and its Subsidiaries, (ii) examine the corporate and financial records
 of the Company and its Subsidiaries and make copies thereof or extracts
 therefrom and (iii) discuss the affairs, finances and accounts of any such
 corporations with the directors, officers, key employees and independent
 accountants of the Company and its Subsidiaries.

                   3C. Public Disclosures. None of the parties hereto shall, nor
 shall the Company permit OnePoint to, disclose the other parties' names or
 identities or describe the transaction contemplated hereby in any press release
 or other public announcement or in any document or material filed with any
 governmental entity without the prior written consent of the other parties,
 unless such disclosure is required by applicable law or governmental
 regulations or by order of a court of competent jurisdiction, in which case
 prior to making such disclosure the disclosing party shall notify the other
 parties describing such disclosure. It is agreed and understood that the
 foregoing sentence shall not prohibit either Purchaser or OnePoint from making
 disclosures about the transaction contemplated hereby in its filings with the
 Securities and Exchange Commission so long as prior to making such disclosure
 the disclosing party shall notify the other parties of such disclosure.

                   3D. Warrants. If at March 31, 2000 (the "First Warrant Date")
  neither the Company nor OnePoint has received aggregate proceeds of at least
  twenty million dollars ($20,000,000) from one or more of the following
  occurring after the date hereof. (i) the issuance of one or more of equity
  securities, securities with equity or profit participation features or voting
  rights, or other securities issued in connection with such securities or (ii)
  a sale of assets (each, a "Funding Event"); then in either case the Company
  shall issue to Purchaser a warrant (the "Warrant") for the purchase of a
  number of Common Units of the Company equal to 1% of the Company's outstanding
  Common Units as of the date of this Agreement.

                             If at June 30, 2000 (the "Second  Warrant Date")
  neither the Company nor OnePoint has received aggregate proceeds of at least
  twenty million dollars ($20,000,000) from one or more Funding Events occurring
  after the date hereof, then the Company shall issue to Purchaser an additional
  Warrant for the purchase of a number of the Common Units of the Company equal
  to 2% of the Company's outstanding Common Units as of the date of this
  Agreement.

                             The Warrants  issuable  pursuant to this paragraph
  3D shall be  substantially  in the form of Exhibit C attached hereto and shall
  provide for an exercise price of $0.01 per unit.

                    3E. Transfer of Restricted Securities. Restricted Securities
  are transferable only pursuant to (i) public offerings registered under the
  Securities Act, (ii) Rule 144, Rule 144A or Regulation S of the Securities and
  Exchange Commission (or any similar rule or rules then in force) if such rule
  is available and (iii) subject to the conditions specified in paragraph 4D
  below, any other legally available means of transfer.

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                            In connection with the transfer of any Restricted
 Securities  (other than a transfer described in paragraph 3E(i) or (ii) above),
 the holder thereof shall deliver written notice to the Company describing in
 reasonable detail the transfer or proposed transfer, and if requested by the
 Company, an opinion of counsel which (to the Company's reasonable satisfaction)
 is knowledgeable in securities law matters to the effect that such transfer of
 Restricted Securities may be effected without registration of such Restricted
 Securities under the Securities Act.

                   Section 4. Representations and Warranties of Purchaser. As a
  material inducement to the Company to enter into this Agreement and sell the
  Common Units hereunder, Purchaser hereby represents and warrants that:

                    4A.      Organization. Purchaser is a corporation organized,
  validly existing and in good standing under the laws of the State of Delaware.

                    4B. Authorization, No Breach. The execution, delivery and
  performance of this Agreement, the LLC Counterpart and all other agreements
  contemplated hereby to which Purchaser is a party have been duly authorized by
  Purchaser. This Agreement, the LLC Counterpart and all other agreements
  contemplated hereby to which Purchaser is a party each constitutes a valid and
  binding obligation of Purchaser, enforceable in accordance with its terms. The
  execution and delivery by Purchaser of this Agreement, the LLC Counterpart and
  all other agreements contemplated hereby to which Purchaser is a party, the
  purchase of the Common Units, and the fulfillment of and compliance with the
  respective terms hereof and thereof by Purchaser, do not and shall not (i)
  conflict with or result in a breach of the terms, conditions or provisions of,
  (ii) constitute a default under, (iii) give any third party the right to
  modify, terminate or accelerate any obligation under, (v) result in a
  violation of, or (vi) require any authorization, consent, approval, exemption
  or other action by or notice or declaration to, or filing with, any court or
  administrative or governmental body or agency pursuant to, the charter or
  bylaws of Purchaser or any Subsidiary, or any law, statute, rule or regulation
  to which Purchaser or any Subsidiary is subject, or any agreement, instrument,
  order, judgment or decree to which Purchaser or any Subsidiary is subject.

                    4C. Accredited Investor. Purchaser is an "accredited
  investor" as that term is defined in Regulation D promulgated under the
  Securities Act. Purchaser has been provided with information in order to
  evaluate the merits and risks of the investment contemplated hereby and has
  been given the opportunity to ask questions and receive satisfactory answers
  concerning the Company and its Subsidiaries and the terms and conditions of
  the offering and to obtain such additional information as it has requested in
  order to evaluate the merits and risks of the investment contemplated hereby.

                    4D.  Securities Not Registered.  Purchaser  understands
 that the Common Units to be purchased hereunder have not been, and will not
 be, registered under the Securities Act or any state or other securities
 laws, and are being offered and sold in reliance upon federal and state
 exemptions for transactions not involving any public offering. Purchaser
 recognizes that reliance upon such exemptions is based in part upon its
 representations contained herein. Purchaser

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 represents and warrants that the Common Units will be acquired by it solely for
 its account, for investment purposes only and not with a view to the
 distribution thereof Purchaser represents and warrants that it (i) is a
 sophisticated investor with such knowledge and experience in business and
 financial matters as will enable it to evaluate the merits and risks of
 investment in the Common Units and (ii) is able to bear the economic risk and
 lack of liquidity of an investment in the Common Units.

                   4E.  Brokerage.  Purchaser has no liability or  obligation
 to pay any brokerage  commissions, finders' fees or similar  compensation in
 connection with the transactions  contemplated by this Agreement based on any
 arrangement or agreement binding upon Purchaser or any Subsidiary.

                   4F. Government Consent, etc. No permit, consent, approval or
 authorization of, or declaration to or filing with, any governmental authority
 is required in connection with the execution, delivery and performance by
 Purchaser of this Agreement or the other agreements contemplated hereby, or the
 consummation by Purchaser of any other transactions contemplated hereby or
 thereby, except as expressly contemplated herein or in the exhibits hereto.

                    Section 5. Representations and Warranties of the Company .
  As a material inducement to Purchaser to enter into this Agreement and
  purchase the Common Units hereunder, the Company hereby represents and
  warrants that:

                    5A. Organization, Corporate Power and Licenses. The Company
  is a limited liability company organized, validly existing and in good
  standing under the laws of the State of Delaware and is qualified to do
  business in and is in good standing under the laws of each jurisdiction where
  such qualification is required, except where the lack of such qualification
  would not have a material adverse effect on the financial condition of the
  Company and its Subsidiaries taken as a whole. The Company possesses all
  requisite limited liability company power and authority and all material
  licenses, permits and authorizations necessary to own and operate its
  properties, to carry on the businesses in which it is engaged and to carry out
  the transactions contemplated by this Agreement.

                    5B. OnePoint Ownership. The Company has no material assets
  other than shares of the Common Stock of OnePoint. The Company does not
  conduct any material business other than its ownership of OnePoint Common
  Stock. The Company has no material liabilities.

                    5C.      Capitalization and Related Matters.

                             (i) Immediately prior to the Closing, the number of
           outstanding Common Units of the Company shall be as set forth in the
           "Capitalization Schedule. " As of the Closing, except as set forth on
           the attached "Capitalization Schedule," neither the Company nor any
           Subsidiary shall have outstanding any stock or securities convertible
           or exchangeable for any shares of its units or capital stock or
           containing any profit participation features, nor shall it have
           outstanding any rights or options to subscribe for or to purchase its
           units or capital stock or any stock or securities convertible into or
           exchangeable for its units or capital stock. As

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          of the Closing, except as set forth on the attached "Capitalization
          Schedule," neither the Company nor any Subsidiary shall be subject to
          any obligation (contingent or otherwise) to repurchase or otherwise
          acquire or retire any shares of its units or capital stock or any
          warrants, options or other fights to acquire its units or capital
          stock.

                            (ii) There are no statutory or contractual
          preemptive rights or fights of refusal with respect to the issuance of
          the Common Units. To the best of the Company's knowledge, the Company
          has not violated any applicable federal or state securities laws in
          connection with the offer, sale or issuance of any of its membership
          units. The offer, sale and issuance of the Common Units hereunder do
          not require registration under the Securities Act or any applicable
          material state securities laws. To the best of the Company's
          knowledge, there are no agreements between the Company's members with
          respect to voting, except for the LLC Agreement.

                   5D. Subsidiary. The attached "Subsidiary Schedule" sets forth
 the name of each Subsidiary of the Company, its jurisdiction of organization
 and the ownership of the equity of such Subsidiary. Each such Subsidiary is
 organized, validly existing and in good standing under the laws of the
 jurisdiction of its organization, possesses all requisite power and authority
 and all material licenses, permits and authorizations necessary to own its
 properties and to carry on the businesses in which it is engaged and is
 qualified and is in good standing under the laws of each jurisdiction where
 such qualification is required, except where the lack of such qualification
 would not have a material adverse effect on the financial condition of the
 Company and its Subsidiaries taken as a whole. All of the outstanding shares of
 capital stock of One Point are validly issued, fully paid and nonassessable,
 and all such shares are owned by the Company free and clear of any Lien and not
 subject to any option or fight to purchase any such shares. Neither the Company
 nor any Subsidiary owns or holds the right to acquire any shares of stock or
 any other security or interest in any other Person, except as set forth in the
 attached "Subsidiary Schedule."

                   5E. Authorization, No Breach. The execution, delivery and
 performance of this Agreement, the LLC Counterpart and all other agreements
 contemplated hereby to which the Company is a party, have been duly authorized
 by the Company. This Agreement, the LLC Counterpart and all other agreements
 contemplated hereby to which the Company is a party each constitutes- a valid
 and binding obligation of the Company, enforceable in accordance with its
 terms. The execution and delivery by the Company of this Agreement, the LLC
 Counterpart and all other agreements contemplated hereby to which the Company
 is a party, the offering, sale and issuance of the Common Units hereunder, and
 the fulfillment of and compliance with the respective terms hereof and thereof
 by the Company, do not and shall not (i) conflict with or result in a breach of
 the terms, conditions or provisions of, (ii) constitute a default under, (iii)
 result in the creation of any lien, security interest, charge or encumbrance
 upon the Company's or OnePoint's units or capital stock or assets pursuant to,
 (iv) give any third party the right to modify, terminate or accelerate any
 obligation under, (v) result in a violation of, or (vi) require any
 authorization, consent, approval, exemption or other action by or notice or
 declaration to, or filing with, any court or administrative or governmental
 body or agency pursuant to, the LLC Agreement of the Company or the charter or
 bylaws of

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 OnePoint, or any law, statute, rule or regulation to which the Company or
 OnePoint is subject, or any agreement, instrument, order, judgment or decree to
 which the Company or OnePoint is subject.

                   5F.      Financial Statements. Attached hereto as the
 "Financial Statements Schedule" are the following financial statements:

                            (i) the audited consolidated balance sheets of
          OnePoint and its Subsidiaries as of December 31, 1997 and December 31,
          1998, and the related statements of income and cash flows (or the
          equivalent) for the respective twelve-month periods then ended; and

                            (ii) the unaudited consolidated balance sheet of
          OnePoint and its Subsidiaries as of June 30, 1999 (the "Latest Balance
          Sheet"), and the related statements of income and cash flows (or the
          equivalent) for the six-month period then ended.

  Each of the foregoing financial statements (including in all cases the notes
  thereto, if any) is accurate and complete in all material respects, is
  consistent with the books and records of OnePoint (which, in turn, are
  accurate and complete in all material respects) and has been prepared in
  accordance with generally accepted accounting principles, consistently
  applied, subject in the case of the unaudited financial statements to the
  absence of footnote disclosure and changes resulting from normal year-end
  adjustments (none of which would, alone or in the aggregate, be materially
  adverse to the financial condition, operating results, assets, operations or
  business prospects of OnePoint and its Subsidiaries taken as a whole).

                    5G. Absence of Undisclosed Liabilities. The Company and its
  Subsidiaries do not have any material obligation or liability (whether
  accrued, absolute, contingent, unliquidated or otherwise, whether or not known
  to the Company or any Subsidiary, whether due or to become due and regardless
  of when asserted) arising out of transactions entered into at or prior to the
  Closing, or any action or inaction at or prior to the Closing, or any state of
  facts existing at or prior to the Closing other than: (i) liabilities set
  forth on the Latest Balance Sheet (including any notes thereto), (ii)
  liabilities and obligations which have arisen after the date of the Latest
  Balance Sheet in the ordinary course of business (none of which is a liability
  resulting from breach of contract, breach of warranty, tort, infringement,
  claim or lawsuit) and (iii) other liabilities and obligations expressly
  disclosed in the other Schedules to this Agreement.

                    5H. No Material Adverse Change. Except as set forth on the
  attached "Adverse Change Schedule ' " since the date of the Latest Balance
  Sheet, there has been no material adverse change in the financial condition,
  operating results, assets, operations, business prospects, employee relations
  or customer or supplier relations of the Company and its Subsidiaries taken as
  a whole.

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                  51.      Absence of Certain Developments.

                           (i) Except as expressly contemplated by this
         Agreement or as set forth on the attached "Developments Schedule,"
         since the date of the Latest Balance Sheet, neither the Company nor any
         Subsidiary have

                                    (a) issued any notes, bonds or other debt
                  securities or any capital stock or other equity securities or
                  any securities convertible, exchangeable or exercisable into
                  any capital stock or other equity securities;

                                    (b) borrowed any amount or incurred or
                  become subject to any material liabilities, except current
                  liabilities incurred in the ordinary course of business and
                  liabilities under contracts entered into in the ordinary
                  course of business;

                                    (c) discharged or satisfied any material
                  Lien or paid any material obligation or liability, other than
                  current liabilities paid in the ordinary course of business;

                                    (d) declared or made any payment or
                  distribution of cash or other property to its stockholders
                  with respect to its capital stock or other equity securities
                  or purchased or redeemed any shares of its capital stock or
                  other equity securities (including, without limitation, any
                  warrants, options or other rights to acquire its capital stock
                  or other equity securities),

                                    (e) mortgaged or pledged any of its
                  properties or assets or subjected them to any material Lien,
                  except Liens for current property taxes not yet due and
                  payable;

                                    (f)      sold, assigned or transferred any
                   of its material tangible assets, except in the ordinary
                   course of business, or canceled any material debts or claims;

                                    (g) suffered any material extraordinary
                   losses or waived any rights of material value, whether or not
                   in the ordinary course of business or consistent with past
                   practice;

                                     (h)     made capital expenditures or
                   commitments therefor that aggregate in excess of five million
                   dollars ($5,000,000);

                                     (i) made any loans or  advances  to,
                   guarantees  for the  benefit of, or any Investments  in, any
                   Persons  in excess of one  hundred  thousand  dollars
                   ($100,000)  in the aggregate; or

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                                     (j) suffered any damage, destruction or
                   casualty loss exceeding in the aggregate one hundred thousand
                   dollars ($100,000), whether or not covered by insurance.

                   5J. Assets. The Company and each Subsidiary have good and
 marketable title to, or a valid leasehold interest in, the material properties
 and assets used by them, located on their premises or shown on the Latest
 Balance Sheet or acquired thereafter, free and clear of all Liens, except for
 properties and assets disposed of in the ordinary course of business since the
 date of the Latest Balance Sheet and except for Liens disclosed on the Latest
 Balance Sheet (including any notes thereto) and Liens for current property
 taxes not yet due and payable.

                   5K.      Tax Matters.
                            ------------

                            (i) The Company and each Subsidiary have filed all
          Tax Returns which they are required to file under applicable laws and
          regulations and have paid all Taxes shown thereon as owing by them
          except where the failure to file Tax Returns or pay Taxes would not
          have a material adverse effect on the financial condition of the
          Company and its Subsidiaries taken as a whole.

                            (ii) "Tax" or "Taxes" means federal, state, county,
          local, foreign or other income, gross receipts, ad valorem, franchise,
          profits, sales or use, transfer, registration, excise, utility,
          environmental, communications, real or personal property, capital
          stock, license, payroll, wage or other withholding, employment, social
          security, severance, stamp, occupation, alternative or add-on minimum,
          estimated and other taxes of any kind whatsoever (including, without
          limitation, deficiencies, penalties, additions to tax, and interest
          attributable thereto) whether disputed or not. "Tax Return" means any
          return, information report or filing with respect to Taxes, including
          any schedules attached thereto and including any amendment thereof

                    5L. Litigation, etc. Except as set forth on the attached
  "Litigation Schedule there are no actions, suits, proceedings, orders,
  investigations or claims pending or, to the best of the Company's knowledge,
  threatened against the Company or any Subsidiary at law or in equity, or
  before or by any governmental department, commission, board, bureau, agency or
  instrumentality (including, without limitation, any actions, suits,
  proceedings or investigations with respect to the transactions contemplated by
  this Agreement); and neither the Company nor any Subsidiary is subject to any
  arbitration proceedings. Neither the Company nor any Subsidiary is subject to
  any judgment, order or decree of any court or other governmental agency that
  is reasonably likely to have a material adverse effect on the financial
  condition of the Company and its Subsidiaries taken as a whole.

                    5M.  Brokerage.  The Company has no liability or obligation
  to pay any brokerage  commissions, finders' fees or similar  compensation in
  connection with the transactions  contemplated by this Agreement based on any
  arrangement or agreement binding upon the Company or any Subsidiary.

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                   5N. Governmental Consent, etc. No permit, consent, approval
 or authorization of, or declaration to or filing with, any governmental
 authority is required in connection with the execution, delivery and
 performance by the Company of this Agreement or the other agreements
 contemplated hereby, or the consummation by the Company of any other
 transactions contemplated hereby or thereby.

                   50. Compliance with Laws. To the knowledge of the Company,
 neither the Company nor any Subsidiary has violated any law or any governmental
 regulation or requirement which violation has had or would reasonably be
 expected to have a material adverse effect upon the financial condition,
 operating results, assets, operations or business prospects of the Company and
 its Subsidiaries taken as a whole.

                   5P. Knowledge. As used in this Section 5, the terms
 "knowledge" or "aware" shall mean and include (i) the actual knowledge or
 awareness of the Company and its Subsidiaries (which shall include the actual
 knowledge and awareness of the officers, directors and key employees of the
 Company and its Subsidiaries and the general managers of each facility of the
 Company and its Subsidiaries) and (ii) the knowledge or awareness which a
 prudent business person would have obtained in the conduct of his business
 after making reasonable inquiry and reasonable diligence with respect to the
 particular matter in question.

                    Section 6. Representations and Warranties of OnePoint. As a
  material inducement to Purchaser to enter into this Agreement and purchase the
  Common Units hereunder, OnePoint hereby represents and warrants that:

                    6A. Organization, Corporate Power and Licenses. OnePoint is
  a corporation organized, validly existing and in good standing under the laws
  of the State of Delaware and is qualified to do business in and is in good
  standing under the laws of each jurisdiction where such qualification is
  required, except where the lack of such, qualification would not have a
  material adverse effect on the financial condition of OnePoint and its
  Subsidiaries taken as a whole.

                    6B.      Capitalization and Related Matters.

                             (i) Immediately prior to the Closing, the number of
           outstanding shares of common stock of OnePoint shall be as set forth
           in the "Capitalization Schedule." As of the Closing, except as set
           forth on the attached "Capitalization Schedule," neither OnePoint nor
           any of its Subsidiaries shall have outstanding any stock or
           securities convertible or exchangeable for any shares of its capital
           stock or containing any profit participation features, nor shall it
           have outstanding any fights or options to subscribe for or to
           purchase its capital stock or any stock or securities convertible
           into or exchangeable for its capital stock. As of the Closing, except
           as set forth on the attached "Capitalization Schedule," neither
           OnePoint nor any of its Subsidiaries shall be subject to any
           obligation (contingent or otherwise) to repurchase or otherwise
           acquire or retire any shares of its capital stock or any warrants,
           options or other fights to acquire its capital stock.

                                       11
<PAGE>

                             (ii) To the best of OnePoint's knowledge, OnePoint
          has not violated any applicable federal or state securities laws in
          connection with the offer, sale or issuance of any of its Common
          Stock.

                   6C.  Subsidiary. The attached "Subsidiary Schedule" sets
 forth the name of each Subsidiary of OnePoint, its jurisdiction of organization
 and the ownership of the equity of such Subsidiary. Each such Subsidiary is
 organized, validly existing and in good standing under the laws of the
 jurisdiction of its organization, possesses all requisite power and authority
 and all material licenses, permits and authorizations necessary to own its
 properties and to carry on the businesses in which it is engaged and is
 qualified and is in good standing under the laws of each jurisdiction where
 such qualification is required, except where the lack of such qualification
 would not have a material adverse effect on the financial condition of OnePoint
 and its Subsidiaries taken as a whole. All of the outstanding shares of capital
 stock of One Point are validly issued, fully paid and nonassessable, and all
 such shares are owned by the Company free and clear of any Lien and not subject
 to any option or right to purchase any such shares. Neither OnePoint nor any of
 its Subsidiaries owns or holds the right to acquire any shares of stock or any
 other security or interest in any other Person, except as set forth in the
 attached "Subsidiary Schedule."

                   6D. Authorization, No Breach. The execution, delivery and
 performance of this Agreement and all other agreements contemplated hereby to
 which OnePoint is a party, have been duly authorized by OnePoint. This
 Agreement and all other agreements contemplated hereby to which OnePoint is a
 party each constitutes a valid and binding obligation of OnePoint, enforceable
 in accordance with its terms. The execution and delivery by OnePoint of this
 Agreement and all other agreements contemplated hereby to which OnePoint is a
 party, and the fulfillment of and compliance with the respective terms thereof
 by OnePoint, do not and shall not (i) conflict with or result in a breach of
 the terms, conditions or provisions of, (ii) constitute a default under, (iii)
 result in the creation of any lien, security interest, charge or encumbrance
 upon OnePoint's capital stock or assets pursuant to, (iv) give any third party
 the right to modify, terminate or accelerate any obligation under, (v) result
 in a violation of, or (vi) require any authorization, consent, approval,
 exemption or other action by or notice or declaration to, or filing with, any
 court or administrative or governmental body or agency pursuant to the charter
 or bylaws of OnePoint, or any law, statute, rule or regulation to which
 OnePoint is subject, or any agreement, instrument, order, judgment or decree to
 which OnePoint is- subject.

                    6E.      Financial Statements. Attached hereto as the
  "Financial Statements Schedule" are the following financial statements:

                             (i) the audited consolidated balance sheets of
           OnePoint and its Subsidiaries as of December 31, 1997 and December
           31, 1998, and the related statements of income and cash flows (or the
           equivalent) for the respective twelve-month periods then ended; and

                                       12
<PAGE>

                             (ii) the unaudited consolidated balance sheet of
          OnePoint and its Subsidiaries as of June 30, 1999 (the "Latest Balance
          Sheet"), and the related statements of income and cash flows (or the
          equivalent) for the six-month period then ended.

 Each of the foregoing financial statements (including in all cases the notes
 thereto, if any) is accurate and complete in all material respects, is
 consistent with the books and records of OnePoint (which, in turn, are accurate
 and complete in all material respects) and has been prepared in accordance with
 generally accepted accounting principles, consistently applied, subject in the
 case of the unaudited financial statements to the absence of footnote
 disclosure and changes resulting from normal year-end adjustments (none of
 which would, alone or in the aggregate, be materially adverse to the financial
 condition, operating results, assets, operations or business prospects of
 OnePoint and its Subsidiaries taken as a whole).

                   6F. Absence of Undisclosed Liabilities. OnePoint and its
 Subsidiaries do not have any material obligation or liability (whether accrued,
 absolute, contingent, unliquidated or otherwise, whether or not known to
 OnePoint or any Subsidiary, whether due or to become due and regardless of when
 asserted) arising out of transactions entered into at or prior to the Closing,
 or any action or inaction at or prior to the Closing, or any state of facts
 existing at or prior to the Closing other than: (i) liabilities set forth on
 the Latest Balance Sheet (including any notes thereto), (ii) liabilities and
 obligations which have arisen after the date of the Latest Balance Sheet in the
 ordinary course of business (none of which is a liability resulting from breach
 of contract, breach of warranty, tort, infringement, claim or lawsuit) and
 (iii) other liabilities and obligations expressly disclosed in the other
 Schedules to this Agreement.

                    6G. No Material Adverse Change. Except as set forth on the
  attached "Adverse Change Schedule," since the date of the Latest Balance
  Sheet, there has been no material adverse change in the financial condition,
  operating results, assets, operations, business prospects, employee relations
  or customer or supplier relations of OnePoint and its Subsidiaries taken as a
  whole.

                    6H.      Absence of Certain Developments.

                             (i) Except as expressly contemplated by this
           Agreement or as set forth on the attached "Developments Schedule,"
           since the date of the Latest Balance Sheet, neither OnePoint nor any
           of its Subsidiaries have

                                      (a) issued any notes, bonds or other debt
                    securities or any capital stock or other equity securities
                    or any securities convertible, exchangeable or exercisable
                    into any capital stock or other equity securities;

                                      (b) borrowed any amount or incurred or
                    become subject to any material liabilities, except current
                    liabilities incurred in the ordinary course of business and
                    liabilities under contracts entered into in the ordinary
                    course of business;

                                       13
<PAGE>

                                     (c) discharged or satisfied any material
                  Lien or paid any material obligation or liability, other than
                  current liabilities paid in the ordinary course of business;

                                    (d) declared or made any payment or
                  distribution of cash or other property to its stockholders
                  with respect to its capital stock or other equity securities
                  or purchased or redeemed any shares of its capital stock or
                  other equity securities (including, without limitation, any
                  warrants, options or other fights to acquire its capital stock
                  or other equity securities);

                                    (e) mortgaged or pledged any of its
                  properties or assets or subjected them to any material Lien,
                  except Liens for current property taxes not yet due and
                  payable;

                                    (f)      sold, assigned or transferred any
                   of its material tangible assets, except in the ordinary
                   course of business, or canceled any material debts or claims;

                                    (g) suffered any material extraordinary
                   losses or waived any fights of material value, whether or not
                   in the ordinary course of business or consistent with past
                   practice;

                                     (h)     made capital expenditures or
                   commitments therefor that aggregate in excess of five million
                   dollars ($5,000,000),-

                                     (i) made any loans or advances  to,
                   guarantees  for the benefit of, or any Investments  in, any
                   Persons in excess of one hundred  thousand  dollars
                   ($100,000)  in the aggregate; or

                                              suffered any damage,  destruction
                   or casualty  loss  exceeding in the aggregate one hundred
                   thousand dollars ($ 100, 000), whether or not covered by
                   insurance.

                   61. Assets. OnePoint and each Subsidiary have good and
 marketable title to, or a valid leasehold interest in, the material properties
 and assets used by them, located on their premises or shown on the Latest
 Balance Sheet or acquired thereafter, free and clear of all Liens, except for
 properties and assets disposed of in the ordinary course of business since the
 date of the Latest Balance Sheet and except for Liens disclosed on the Latest
 Balance Sheet (including any notes thereto) and Liens for current property
 taxes not yet due and payable.

                   6J.      Tax Matters.

                            (i) OnePoint and each Subsidiary have filed all Tax
          Returns which they are required to file under applicable laws and
          regulations and have paid all Taxes shown

                                       14
<PAGE>

          thereon as owing by them except where the failure to file Tax Returns
          or pay Taxes would not have a material adverse effect on the financial
          condition of OnePoint and its Subsidiaries taken as a whole.

                            (ii) "Tax" or "Taxes" means federal, state, county,
          local, foreign or other income, gross receipts, ad valorem, franchise,
          profits, sales or use, transfer, registration, excise, utility,
          environmental, communications, real or personal property, capital
          stock, license, payroll, wage or other withholding, employment, social
          security, severance, stamp, occupation, alternative or add-on minimum,
          estimated and other taxes of any kind whatsoever (including, without
          limitation, deficiencies, penalties, additions to tax, and interest
          attributable thereto) whether disputed or not. "Tax Return" means any
          return, information report or filing with respect to Taxes, including
          any schedules attached thereto and including any amendment thereof

                   6K.  Brokerage.  OnePoint has no liability or  obligation  to
 pay any  brokerage  commissions, finders' fees or similar  compensation in
 connection with the transactions  contemplated by this Agreement based on any
 arrangement or agreement binding upon OnePoint or any of its Subsidiaries.

                   6L. Governmental Consent, etc. No permit, consent, approval
 or authorization of, or declaration to or filing with, any governmental
 authority is required in connection with the execution, delivery and
 performance by OnePoint of this Agreement or the other agreements contemplated
 hereby, or the consummation by OnePoint of any other transactions contemplated
 hereby or thereby.

                   6M. Compliance with Laws. To the knowledge of OnePoint,
  neither OnePoint nor any Subsidiary has violated any law or any governmental
  regulation or requirement which violation has had or would reasonably be
  expected to have a material adverse effect upon the financial condition,
  operating results, assets, operations or business prospects of OnePoint and
  its Subsidiaries taken as a whole.

                    6N. Knowledge. As used in this Section 6, the terms
  "knowledge" or "aware" shall mean and include (i) the actual knowledge or
  awareness of OnePoint and its Subsidiaries (which shall include the actual
  knowledge and awareness of the officers, directors and key employees of
  OnePoint and its Subsidiaries and the general managers of each facility of
  OnePoint and its Subsidiaries) and (Ii) the knowledge or awareness which a
  prudent business person would have obtained in the conduct of his business
  after making reasonable inquiry and reasonable diligence with respect to the
  particular matter in question.

                    Section 7. Put Option.
                                   -------

                    7A.      Generally. Upon and after the occurrence of a Put
  Event, Purchaser may require the Company to repurchase all of the Common Units
  (whether held by Purchaser or one or

                                       15
<PAGE>

 more of Purchaser's transferees) pursuant to the terms and conditions in this
 Section 7 (the "Put").

                   7B. Put Notice. Upon the occurrence of a Put Event, Purchaser
 may exercise the Put by delivering written notice (the "Put Notice") to the
 Company within 30 days following the occurrence of the Put Event. If Purchaser
 fails to exercise its fights pursuant to the terms and conditions of this
 Section 7 within such 30-day period, then Purchaser shall have no further
 fights under this Section 7.

                   7C.  Put Price. Upon the exercise of the Put, the repurchase
 price for the Common  Units (the "Put Price")  will be the price paid for such
 Common  Units under this  Agreement  compounded annually at a rate of ten
 percent (10%) per annum.

                   7D. Closing. The closing of the purchase of Common Units
 pursuant to the Put (the "Put Closing") will take place on the date designated
 by the Company in a written notice to Purchaser, which date will not be more
 than 30 days nor less than 5 days after the delivery of the Put Notice. The
 Company will pay for the Common Units to be purchased pursuant to the Put by
 (i) delivery of a certified check if and to the extent the Company is able to
 receive dividends to pay the Put Price in cash under the terms of OnePoint's
 loan agreements, indentures, other agreements for borrowed money, charter, and
 the provisions of the Delaware General Corporation Law. The Company will pay
 the remainder of the Put Price in cash as soon as it is able to receive
 dividends to do so under such agreements, documents and laws. In the event that
 the Company is unable to pay the entire Put Price in cash, the unpaid portion
 thereof will bear interest initially at a rate of twelve percent (12%) per
 annum, which rate shall be increased by two percent (2%) for each 90-day period
 that the Put Price shall remain unpaid, but in no event shall such interest
 exceed sixteen percent (16%).

                    Section 8. First Refusal Right.
                                     --------------

                                     (i) At least 3 0 days  prior  to  making
           any  sale,  transfer,  assignment, pledge or other disposition of (a
           "Transfer") any Common Units (other than pursuant to a Sale of the
           Company as defined in Section 9 below), Purchaser shall deliver a
           written notice (the "Offer Notice") to the Company. The Offer Notice
           shall disclose in reasonable detail the identity of the proposed
           transferee(s), the proposed number of Common Units to be transferred
           and the proposed terms and conditions of the Transfer.

                                      (ii) The Company  may elect to  purchase
           all (but not less than all) of the Common Units specified in the
           Offer Notice at the price and on the terms specified therein by
           delivering written notice of such election to Purchaser as soon as
           practical but in any event within 30 days after the delivery of the
           Offer Notice (the "Company Offer Period").

                                      (iii) If the Company  elects to purchase
           all (but not less than all) of the Common Units offered by Purchaser,
           the transfer of such Common Units shall be consummated as soon as
           practical after the delivery of the election notices, but in any
           event

                                       16
<PAGE>

          within 10 days of such delivery. If the Company elects not to purchase
          all of the Common Units being offered, Purchaser may, within 90 days
          after expiration of the 30 day election period, transfer all (but not
          less than all) of the Common Units referred to in the Offer Notice to
          one or more third parties at a price no less than the price specified
          in the Offer Notice and on other terms not materially more favorable
          to the transferees than offered to the Company in the Offer Notice.
          Any Common Units not transferred within such 90-day period shall be
          subject to the provisions of this Section 7 with respect to any
          subsequent Transfer. The purchase price specified in any Offer Notice
          shall be payable solely in U.S. dollars in immediately available funds
          at the closing of the transaction.

                   Section 8. Sale of the Company.
                                   ---------------

                   8A. Approved Sale. If the Board and the holders of a majority
 of the Company's Common Units approve a Sale of the Company to an unaffiliated
 party (an "Approved Sale"), Purchaser will consent to and raise no objections
 against the Approved Sale, and if the Approved Sale is structured as a sale of
 units, Purchaser will agree to sell his Common Units on the terms and
 conditions approved by the Board and the holders of a majority of the Company's
 Common Units. Purchaser will take all necessary or desirable actions in
 connection with the consummation of the Approved Sale.

                   8B. Obligations. Purchaser's obligations with respect to the
  Approved Sale are subject to the satisfaction of the following conditions: (i)
  upon the consummation of the Approved Sale, all of the holders of Common Units
  will receive the same form and amount of consideration per unit, or if any
  holders of Common Units are given an option as to the form and amount of
  consideration to be received, all holders will be given the same option; and
  (ii) all holders of then currently exercisable rights to acquire shares of
  Common Units will be given an opportunity to either (A) exercise such rights
  prior to the consummation of the Approved Sale and participate in such sale as
  holders of Common Units or (B) upon the consummation of the Approved Sale,
  receive in exchange for such rights consideration equal to the amount
  determined by multiplying (1) the same amount of consideration per unit
  received by the holders of Common Units in connection with the Approved Sale
  less the exercise price per units of such rights to acquire Common Units by
  (2) the number of units represented by such rights.

                    Section 9. Definitions.
                               ------------

                    9A.      Definitions. For the purposes of this Agreement,
  the following terms have the meanings set forth below:

                    "Affiliate" of any particular Person means any other Person
  controlling, controlled by or under common control with such particular
  Person, where "control" means the possession, directly

                                       17
<PAGE>

 or indirectly, of the power to direct the management and policies of a Person
 whether through the ownership of voting securities, contract or otherwise.

                   "Investment" as applied to any Person means (i) any direct or
 indirect purchase or other acquisition by such Person of any notes,
 obligations, instruments, stock, securities or ownership interest (including
 partnership interests and joint venture interests) of any other Person and (ii)
 any capital contribution by such Person to any other Person.

                   "IRC" means the Internal Revenue Code of 1986, as amended,
 and any reference to any particular IRC section shall be interpreted to include
 any revision of or successor to that section regardless of how numbered or
 classified.

                   "Liens" means any mortgage, pledge, security interest,
  encumbrance, lien or charge of any kind (including, without limitation, any
  conditional sale or other title retention agreement or lease in the nature
  thereof), any sale of receivables with recourse against the Company, any
  Subsidiary or any Affiliate, any filing or agreement to file a financing
  statement as debtor under the Uniform Commercial Code or any similar statute
  other than to reflect ownership by a third party of property leased to the
  Company or any Subsidiaries under a lease which is not in the nature of a
  conditional sale or title retention agreement, or any subordination
  arrangement in favor of another Person (other than any subordination arising
  in the ordinary course of business).

                    "Person" means an individual, a partnership, a corporation,
  a limited liability company, an association, a joint stock company, a trust, a
  joint venture, an unincorporated organization and a governmental entity or any
  department, agency or political subdivision thereof

                    "Put Event" means the date at which the Company raises at
  least $20 million from the issuance of one or more of its equity securities,
  securities with equity or profit participation features or voting fights, or
  other securities issued in connection with such securities.

                    "Restricted Securities" means (i) the Common Units issued
  hereunder, (ii) any Warrants issued pursuant to paragraph 3C hereof, and (iii)
  any securities issued with respect to the securities referred to in clauses
  (i) and (ii) above by way of a stock dividend or stock split or in connection
  with a combination of units, recapitalization, merger, consolidation or other
  reorganization. As to any particular Restricted Securities, such securities
  shall cease to be Restricted Securities when they have (a) been effectively
  registered under the Securities Act and disposed of in accordance with the
  registration statement covering them, (b) been distributed to the public
  through a broker, dealer or market maker pursuant to Rule 144 (or any similar
  provision then in force) under the Securities Act or become eligible for sale
  pursuant to Rule 144(k)(or any similar provision then in force) under the
  Securities Act or (c) been otherwise transferred.

                    "Sale of the Company" means the sale to any party or group
  of related parties pursuant to which such party or parties acquire (i)
  ownership units of the Company possessing the voting power to elect a majority
  of the directors (whether by merger, consolidation, sale or transfer of the

                                       18
<PAGE>

 Company's ownership units, reorganization, recapitalization or otherwise) or
 (ii) sale of more than 50% of the total assets determined on a consolidated
 basis.

                   "Securities Act" means the Securities Act of 1933, as
 amended, or any similar federal law then in force.

                   "Securities and Exchange  Commission"  includes any
 governmental  body or agency succeeding to the functions thereof

                   "Securities Exchange Act" means the Securities Exchange Act
 of 1934, as amended, or any similar federal law then in force.

                   "Subsidiary" means, with respect to any Person, any
 corporation, limited liability company, partnership, association or other
 business entity of which (i) if a corporation, a majority of the total voting
 power of shares of stock entitled (without regard to the occurrence of any
 contingency) to vote in the election of members, managers or trustees thereof
 is at the time owned or controlled, directly or indirectly, by that Person or
 one or more of the other Subsidiaries of that Person or a combination thereof,
 or (ii) if a limited liability company, partnership, association or other
 business entity, a majority of the partnership or other similar ownership
 interest thereof is at the time owned or controlled, directly or indirectly, by
 any Person or one or more Subsidiaries of that Person or a combination thereof
 For purposes hereof, a Person or Persons shall be deemed to have a majority
 ownership interest in a limited liability company, partnership, association or
 other business entity if such Person or Persons shall be allocated a majority
 of limited liability company, partnership, association or other business entity
 gains or losses or shall be or control any managing member or general partner
 of such limited liability company, partnership, association or other business
 entity.

           Section 10. Miscellaneous.
                       --------------

                    I OA.  Expenses.  The  Company  and  Purchaser  shall  each
  be  responsible  for all of  their respective  fees and expenses  arising in
  connection  with the  negotiation  and  execution  of this  Agreement
  including such fees and expenses  associated  with the  consummation  of the
  transactions  contemplated by this Agreement.

                    I OB. Remedies. Each holder of Common Units shall have all
  rights and remedies set forth in this Agreement, the amendment of the Limited
  Liability Company Agreement, and all rights and remedies which such holders
  have been granted at any time under any other agreement or contract and all of
  the rights which such holders have under any law. Any Person having any rights
  under any provision of this Agreement shall be entitled to enforce such rights
  specifically (without posting a bond or other security), to recover damages by
  reason of any material breach of any provision of this Agreement and to
  exercise all other rights granted by law.

                    I  OC.  Survival  of  Representations  and  Warranties.  All
  representations  and  warranties contained herein or made in writing by any
  party in connection herewith shall terminate at Closing.

                                       19
<PAGE>

                   I OD. Successors and Assigns. Except as otherwise expressly
 provided herein, all covenants and agreements contained in this Agreement by or
 on behalf of any of the parties hereto shall bind and inure to the benefit of
 the respective successors and assigns of the parties hereto whether so
 expressed or not. In addition, and whether or not any express assignment has
 been made, the provisions of this Agreement which are for Purchaser's benefit
 as a purchaser or holder of Common Units (including Common Units issuable upon
 exercise of Warrant) are also for the benefit of, and enforceable by, any
 subsequent holder of such Common Units.

                   I OE. Severability. Whenever possible, each provision of this
 Agreement shall be interpreted in such manner as to be effective and valid
 under applicable law, but if any provision of this Agreement is held to be
 prohibited by or invalid under applicable law, such provision shall be
 ineffective only to the extent of such prohibition or invalidity, without
 invalidating the remainder of this Agreement.

                    I  OF.  Counterparts.   This  Agreement  may  be  executed
  simultaneously  in  two  or  more counterparts,  any one of  which  need  not
  contain  the  signatures  of more  than  one  party,  but all such
  counterparts taken together shall constitute one and the same Agreement.

                    IOG.  Descriptive  Headings,  Interpretation.  The
  descriptive  headings of this Agreement are inserted for convenience  only and
  do not constitute a substantive  part of this Agreement.  The use of the word
  "including" in this Agreement shall be by way of example rather than by
  limitation.

                    10H. Governing Law. The limited liability company law of the
  State of Delaware shall govern all issues and questions concerning the
  relative limited liability company rights and obligations of the Company and
  its members. All other issues and questions concerning the construction,
  validity, enforcement and interpretation of this Agreement and the exhibits
  and schedules hereto shall be governed by, and construed in accordance with,
  the laws of the State of Illinois, without giving effect to any choice of law
  or conflict of law rules or provisions (whether of the State of Delaware or
  any other jurisdiction) that would cause the application of the laws of any
  jurisdiction other than the State of Illinois.

              - 101. Notices. All notices, demands or other communications to be
  given or delivered under or by reason of the provisions of this Agreement
  shall be in writing and shall be deemed to have been given when delivered
  personally to the recipient, sent to the recipient by reputable overnight
  courier service (charges prepaid) or mailed to the recipient by certified or
  registered mail, return receipt requested and postage prepaid. Such notices,
  demands and other communications shall be sent as follows:

                             If to Purchaser:

                                      CAIS Internet, Inc.
                                      1255 22d Street, N.W.

                                       20
<PAGE>

                                    Washington, D.C. 20037
                                    Attention: Chief Executive Officer

                            If to the Company or OnePoint:

                                    2201 Waukegan Road
                                     Suite E-200
                                     Bannockburn, IL 60015
                                     Attention: Chief Financial Officer

 or to such other address or to the attention of such other person as the
 recipient party has specified by prior written notice to the sending party.

                   I OJ. No Strict Construction. The parties hereto have
 participated jointly in the negotiation and drafting of this Agreement. In the
 event an ambiguity or question of intent or interpretation arises, this
 Agreement shall be construed as if drafted jointly by the parties hereto, and
 no presumption or burden of proof shall arise favoring or disfavoring any party
 by virtue of the authorship of any of the provisions of this Agreement.

                                       21
<PAGE>

                   IN WITNESS W]HEREOF, the parties hereto have executed this
 Agreement on the date first written above.

                                VENTURES IN COMMUNICATIONS II, L.L.C.

                                By ______________________

                                Its  ______________________

                                ONEPOINT COMMUNICATIONS CORP.

                                By ______________________

                                Its  ______________________

                                       22
<PAGE>

                                LIST OF EXHIBITS

 Exhibit A - Limited Liability Company Agreement Exhibit B - Joint Marketing
 Agreement Exhibit C - Form of Warrant
<PAGE>

                            Capitalization Schedule

 I        Immediately prior to the transactions contemplated by the Agreement,
          the Company has 1,000,000 Common Units outstanding, and has 199,000
          Preferred Units outstanding, and OnePoint has 1,000,000 shares of
          Common Stock outstanding.

 2.       The Company also has issued two warrants to Ventures in Communications
          L.L.C. ("VIC")

                   The first of such warrants is exercisable for a total number
                   of Common Units equal, as a percentage of the total number of
                   Common Units outstanding immediately after the exercise of
                   the final warrant, to the result of 9.9% divided by a
                   fraction, the numerator of which is the number of outstanding
                   shares of OnePoint's Common Stock owned by the Company at
                   such time, and the denominator of which is the total number
                   of outstanding shares of OnePoint Common Stock at such time.
                   Such fraction is referred to herein as the "Gross Up
                   Fraction. "

                   The second warrant is exercisable for a total number of
                   Common Units equal, as a percentage of the total number of
                   Common Units outstanding immediately after the exercise of
                   the final warrant, to the result of 2.0% divided by the Gross
                   Up Fraction.

  3.      OnePoint has outstanding warrants to purchase I 11, 125 shares of its
          Common Stock, which were issued in May 1998 in connection with its
          issuance of 14 Y2% Senior Notes due 2008.

  4.       Section 9. 10 of the Operating Agreement contains a put right of VIC.

  5.       Section 9.7 of the Operating Agreement contains pre-emptive rights
           with respect to the sale of the Common Units in favor of VIC. VIC has
           waived such rights in connection with the proposed transaction.
<PAGE>

                                            Subsidiary Schedule

        The Subsidiaries of the Company and OnePoint are as follows:
<TABLE>
<CAPTION>
                                                Jurisdiction of           Ownership of Outstanding
 Name of Subsidiary                             Organization              Equity
  <S>                                           <C>                       <C>
  OnePoint Communications Corp.                 Delaware                  100% owned by the Company
  OnePoint Communications-                      Delaware                  100% owned by OnePoint
  Colorado, LLC                                                           Communications Corp.
  OnePoint Communications-Illinois,             Delaware                  100% owned by OnePoint
  LLC                                                                     Communications Corp.
  OnePoint Communications-Georgia,              Delaware                  100% owned by OnePoint
  LLC                                                                     Communications Corp.
  OnePoint Communications                       Delaware                  100% owned by OnePoint
  Holdings, LLC                                                           Communications Corp.
  OnePoint Services LLC                         Delaware                  Majority owned by OnePoint
                                                                          Communications Corp., with
                                                                          minority interest TBD for
                                                                          management (newly established
                                                                          entity)
  OnePoint Prepaid Services LLC                 Delaware                  100% owned by OnePoint
                                                                          Communications-Colorado,
                                                                          LLC
  Mid-Atlantic RMTS Holdings LLC                Delaware                  50% owned by OnePoint
                                                                          Communications Holdings,
                                                                          LLC; 50 % owned by South
                                                                          Central Development Company
                                                                          LP
  VIC-RMTS-DC, LLC                              Delaware                  95% owned by OnePoint
                                                                          Communications Holdings,
                                                                          LLC, 5% owned by Mid
                                                                          Atlantic RMTS Holdings, LLC
                                                                          (see Developments Schedule for
                                                                          information regarding the
                                                                          Company's negotiations with the
                                                                          Mid-Atlantic entities).
</TABLE>
<PAGE>

 2. OnePoint Communications Holdings, LLC has certain rights of first refusal to
 acquire the units of Mid-Atlantic Telcom Plus Holding, LLC and is negotiating
 to acquire the remaining units of VIC-RMTS-DC, LLC that it does not own,
 directly or indirectly.
<PAGE>

                        Material Adverse Change Schedule

    I . See the Developments Schedule for information regarding negotiations
with the MidAtlantic entities.
<PAGE>

                                           Developments Schedule

 I        OnePoint executed a Call On Term-Term Note in the amount of
          $16,000,000 in favor of The Northern Trust Company as of August 30,
          1999.

 2.       OnePoint has signed an agreement with Lucent Technologies Inc. to
          purchase telecommunications network equipment, and is negotiating with
          Comdisco to lease telecommunications network equipment.

 3.       OnePoint is in negotiations with its joint venture partner to end the
          joint venture and resolve pending arbitration between the parties.
          Pursuant to these negotiations, OnePoint or a subsidiary would
          purchase the membership units of VIC-RMTS-DC, LLC that it does not
          own, directly or indirectly, and would consent to the sale of all of
          the membership units or all or substantially all of the assets of
          Mid-Atlantic Telcom Plus, LLC.
<PAGE>

                               Litigation Schedule

    I . See the Developments Schedule and the Financial Statements Schedule for
    information regarding OnePoint's dispute with the Mid-Atlantic entities.
<PAGE>

                   IN WITNESS WHEREOF, the parties hereto have executed this
 Agreement on the date first written above.

                         VENTURES IN COMMUNICATIONS II, L.L.C.

                         By _________________________
                         Its ________________________

                         ONEPOINT COMMUNICATIONS CORP.

                         By _________________________
                         Its ________________________

                        CAIS INTERNET, INC.

                         By _________________________
                         Its ________________________

                                       22<PAGE>

                                                                  EXECUTION COPY

________________________________________________________________________________
________________________________________________________________________________

                   ________________________________________

                           ONEPOINT SERVICES, L.L.C.

                      A Delaware Limited Liability Company

                   ________________________________________

                      LIMITED LIABILITY COMPANY AGREEMENT

                         Dated as of November 23, 1999

THE MEMBERSHIP INTERESTS REPRESENTED BY THIS LIMITED LIABILITY COMPANY AGREEMENT
HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 OR UNDER
ANY OTHER APPLICABLE SECURITIES LAWS.  SUCH INTERESTS MAY NOT BE SOLD, ASSIGNED,
PLEDGED OR OTHERWISE DISPOSED OF AT ANY TIME WITHOUT EFFECTIVE REGISTRATION
UNDER SUCH ACT AND LAWS OR EXEMPTION THEREFROM, AND COMPLIANCE WITH THE OTHER
RESTRICTIONS ON TRANSFERABILITY SET FORTH HEREIN.
<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                  PAGE
                                                                                                  ----
<S>                                                                                               <C>
ARTICLE I  DEFINITIONS.............................................................................  1
     Section 1.1     Definitions...................................................................  1
     Section 1.2     Other Definitions.............................................................  4

ARTICLE II   GENERAL PROVISIONS; CAPITAL CONTRIBUTIONS.............................................  4
     Section 2.1     Formation.....................................................................  4
     Section 2.2     Name..........................................................................  5
     Section 2.3     Purpose.......................................................................  5
     Section 2.4     Registered Office; Registered Agent; Place of Business........................  5
     Section 2.5     Capital Contributions.........................................................  5
     Section 2.6     Term..........................................................................  6
     Section 2.7     No State-Law Partnership......................................................  6

ARTICLE III  CAPITAL ACCOUNTS......................................................................  6
     Section 3.1     Capital Accounts..............................................................  6
     Section 3.2     Computation of Amounts........................................................  6
     Section 3.3     Distribution in Kind..........................................................  7
     Section 3.4     Certain Terms of Preferred Units..............................................  7
     Section 3.5     Certain Terms of Common Units.................................................  9

ARTICLE IV  DISTRIBUTIONS; AND ALLOCATIONS......................................................... 10
     Section 4.1     Distributions................................................................. 10
     Section 4.2     Allocations................................................................... 12
     Section 4.3     Special Allocations........................................................... 12
     Section 4.4     Tax Allocations............................................................... 13
     Section 4.5     Indemnification and Reimbursement for Payments on Behalf of a Unitholder...... 13

ARTICLE V  MANAGEMENT AND MEMBER RIGHTS............................................................ 14
     Section 5.1     Management Authority.......................................................... 14
     Section 5.2     Indemnification............................................................... 15
     Section 5.3     Transfer of Company Interest.................................................. 15
     Section 5.4     Member Rights; Meetings....................................................... 16
     Section 5.5     Additional Members............................................................ 17
     Section 5.6     Preemptive Rights............................................................. 17
     Section 5.7     Outside Businesses............................................................ 17
     Section 5.8     Member Representations and Warranties......................................... 18

ARTICLE VI  DURATION............................................................................... 18
</TABLE>

                                      -i-
<PAGE>

<TABLE>
<S>                                                                                            <C>
     Section 6.1     Duration................................................................. 18
     Section 6.2     Winding Up............................................................... 18
     Section 6.3     Termination.............................................................. 19

ARTICLE VII  VALUATION........................................................................ 19
     Section 7.1     Valuation................................................................ 19

ARTICLE VIII  CERTIFICATION OF MEMBERSHIP INTERESTS........................................... 19
     Section 8.1     Membership Interests..................................................... 19

ARTICLE IX  BOOKS OF ACCOUNT; MEETINGS........................................................ 19
     Section 9.1     Books.................................................................... 19
     Section 9.2     Fiscal Year.............................................................. 19
     Section 9.3     Taxes.................................................................... 20

ARTICLE X  MISCELLANEOUS...................................................................... 20
     Section 10.1    Amendments............................................................... 20
     Section 10.2    Successors............................................................... 20
     Section 10.3    Governing Law; Severability.............................................. 21
     Section 10.4    Notices.................................................................. 21
     Section 10.5    Complete Agreement; Headings, Counterparts............................... 21
     Section 10.6    Partition................................................................ 21
     Section 10.7    No Strict Construction................................................... 21
</TABLE>

                                     -ii-
<PAGE>

                    LIMITED LIABILITY COMPANY AGREEMENT OF
                           ONEPOINT SERVICES, L.L.C.
                           -------------------------

          THIS LIMITED LIABILITY COMPANY AGREEMENT, of OnePoint Services, L.L.C.
(the "Company") dated and effective as of November 23, 1999 (this "Agreement"),
                                                                   ---------
is adopted by, executed and agreed to, for good and valuable consideration, by
OnePoint Communications Corp. (the "Investor"), Al Moschner and Tim Ostrowski
                                    --------
(together the "Executives" and individually an "Executive"), Oscar Aguiar, Jr.
and James Silva (together the "RCP Executives" and individually an "RCP
Executive"), the other individuals (together the "Additional Members" and
individually an "Additional Member") listed on Schedule A hereto, as such
schedule may be amended from time to time.  Certain terms used herein are
defined in Article I.
           ----------

          WHEREAS, the Company has been formed as a limited liability company
pursuant to the Act by the filing of a Certificate of Formation of the Company
(the "Certificate") with the Secretary of the State of Delaware;
      -----------

          WHEREAS, the Investor, Executives, RCP Executives, and the Additional
Members desire to be admitted as Members;

          WHEREAS, the Members desire to designate the Investor as the Managing
Member with the rights and obligations set forth herein; and

          WHEREAS, the Members desire to enter into this Agreement to set forth,
inter alia, their respective rights and obligations as Members.

          NOW, THEREFORE, in consideration of the mutual covenants contained
herein and other goods and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto; intending to be legally
bound, hereby agree as follows:

                                   ARTICLE I

                                  DEFINITIONS

          Section I.1  Definitions.  For purposes of this Agreement:
                       -----------

          "Act" means the Delaware Limited Company Act, 6 Del. C. (S) 18-101,
           ---
et.seq., as amended from time to time.

          "Additional Member" means a Person admitted to the Company as a Member
           -----------------
pursuant to the Agreement.

                                      -1-
<PAGE>

          "Authorized Units" means the aggregate of all Units (the "Total
           ----------------                                         -----
Authorized Units") or any unit thereof (an "Authorized Unit") authorized as part
----------------                            ---------------
of the capital structure of the Company by this Agreement or amendment thereto,
as shown on Schedule A.

          "Book Value" means, with respect to any Company property, Company's
           ----------
adjusted basis for federal income tax purposes, adjusted from time to time to
reflect the adjustments required or permitted by Treasury Regulations.

          "Capital Contributions" means any cash, cash equivalents, promissory
           ---------------------
obligations, or the fair market value of other property which a Unitholder
contributes or is deemed to have contributed to the Company with respect to any
Unit pursuant to Sections 2.5, 3.4(a) and 3.5.
                 ----------------------------

          "Code" means the Internal Revenue Code of 1986, as amended from time
           ----
to time, and the regulations promulgated thereunder.

          "Common Unit" means a Unit representing a fractional part of the
           -----------
interests in the Company held by the Common Unitholders and Restricted
Unitholders and having the right and obligations specified with respect to
Common Units in this Agreement.

          "Common Unitholder" means a holder of Common Units.
           -----------------

          "Company" means OnePoint Services, L.L.C.
           -------

          "Executives" means Al Moschner and Tim Ostrowski.
           ----------

          "Fully Diluted Units" means, at any time, the number of Common Units
           -------------------
outstanding at such time, plus the number of Common Units issuable upon
conversion of the Preferred Units outstanding at such time.

          "Indemnified Party" means any Person who is or has been a Manager,
           -----------------
Member or officer of the Company or of the Manager, or who is serving or has
served at the request of the Company or the Manager as a director, officer,
manager, member, partner, employee or agent of another limited liability company
or a corporation, partnership, joint venture, trust or other enterprise, whether
or not such Person continues to be such at the time the loss, liability or
expense in question is paid or incurred.

          "Investor" means OnePoint Communications Corp.
           --------

          "Losses" for any period means all items of Company loss, deduction and
           ------
expense for such period determined according to Section 3.2.
                                                -----------

          "Majority in Interest" means the Member(s) holding Units representing
           --------------------
a majority of the Fully Diluted Units that are eligible to vote.

                                      -2-
<PAGE>

          "Manager" means the Investor or its successor as provided for in
           -------
Section 5.1(d) below.  There shall be only one Manager.
--------------

          "Member" means any of the parties identified on Schedule A as a Member
           ------                                        -----------
or admitted as a member after the date of this Agreement in accordance with the
terms hereof, in each case for so long as such Person continues to be a member
hereunder.

          "Minimum Gain" means the partnership minimum gain determined pursuant
           ------------
to Treasury Regulation Section 1.704-2(d).

          "Percentage Interest" means, in respect of each Unitholder, (i) if no
           -------------------
Preferred Units are issued, such Unitholders's interest in the income, gains,
losses, deductions and expenses of the Company as a percentage equal to all
Common Units held by such Unitholders divided by all Common Units issued; or
                                      -------
(ii) if Preferred Units are issued, such Unitholder's interest in the income,
gains, losses, deductions and expenses of the Company computed as a percentage
equal to all Fully Diluted Units held by the Unitholder divided by all Fully
                                                        -------
Diluted Units issued.

          "Person" means an individual, a partnership, a corporation, a limited
           ------
liability company, an association, a joint stock company, a trust, a joint
venture, an unincorporated organization and a governmental entity or any
department, agency or political subdivision thereof.

          "Preferred Unit" means a Unit representing a fractional part of the
           --------------
interests of the Preferred Unitholders and having the rights and obligations
specified with respect to Preferred Units in this Agreement.

          "Preferred Unitholder" means a holder of a Preferred Unit.
           --------------------

          "Profits" for any period means all items of Company income and gain
           -------
for such period determined according to Section 3.2.
                                        -----------

          "RCP Acquisition" means the proposed stock purchase acquisition of RCP
           ---------------
Communications, Inc. by the Company.

          "RCP Employees" means the employees of RCP Communications, Inc. on the
           -------------
closing date of the RCP Acquisition.

          "RCP Executive" means Oscar Aguiar, Jr. or James A. Silva.
           -------------

          "Restricted Common Unit" means a Common Unit that is subject to
           ----------------------
vesting, divestiture, or other restrictions as specified in a Unitholder
Agreement between the Company and the Restricted Unitholder.

          "Restricted Unitholder" means any owner of one or more Restricted
           ---------------------
Common Units as reflected on the Company's books and records.

                                      -3-
<PAGE>

          "Treasury Regulations" means the income tax regulations promulgated
           --------------------
under the Code and effective as of the date hereof.  Such term shall be deemed
to include any future amendments to such regulations and any corresponding
provisions of succeeding regulations to the extent the Manager determines that
any such amendments and succeeding regulations do not adversely affect the
economic interests of the Members hereunder.

          "Uncommitted Unit" means any Authorized Unit which is not yet issued
           ----------------
to any Member or is reserved for issuance upon the conversion in a Preferred
Unit.

          "Unit" means an interest in the Company representing a fractional part
           ----
of the interests of all Members and Assignees and shall include Common Units,
Restricted Common Units and Preferred Units; provided that any class or group of
                                             -------- ----
Units issued shall have relative rights, powers, and duties set forth in this
Agreement and the interest in the Company represented by such class or group of
Units shall be determined in accordance with such relative rights, powers, and
duties set forth in this Agreement.

          "Unitholder" means any owner of one of more Units as reflected on the
           ----------
Company's books and records.

          Section I.2  Other Definitions.  Each of the following defined terms
                       -----------------
has the meaning given such term in the Section set forth opposite such defined
term:

               Term                               Section
               ----                               -------
               Agreement                          Preamble
               Capital Account                    Section 3.1
               Certificate                        Section 2.1
               Conversion Ratio                   Section 3.4(c)
               Liquidation Value                  Section 3.4(d)
               Transfer                           Section 5.2

                                  ARTICLE II

                   GENERAL PROVISIONS; CAPITAL CONTRIBUTIONS

          Section II.1  Formation.  The formation of the Company pursuant to and
                        ---------
in accordance with the Delaware Limited Liability Company Act, 6 Del. C. (S)18-
101, et seq., as amended from time to time (the "Act"), occurred on August 25,
     -- ---                                      ---
1999. An authorized person, within the meaning of the Act, has executed,
delivered and filed the certificate of formation of the Company (the
"Certificate"). Upon the Investor's (a) execution of this Agreement or a
 -----------
counterpart hereof and (b) the making of the capital contribution required by
Section 2.5, the Investor shall be admitted to the Company as its initial
-----------
Member.

                                      -4-
<PAGE>

          Section II.2  Name.  The name of the Company will be "OnePoint
                        ----
Services," or such other name or names as the Manager may from time to time
designate.

          Section II.3  Purpose.  The Company's purpose shall be to carry on any
                        -------
activities which may be lawfully be carried on by a limited liability company
organized pursuant to the Act.

          Section II.4  Registered Office; Registered Agent; Place of Business.
                        ------------------------------------------------------
The registered office of the Company required by the Act to be maintained in the
State of Delaware shall be the office of the initial registered agent named in
the Certificate or such other office (which need not be a place of business of
the Company) as the Manager may designate from time to time in the manner
provided by law.  The registered agent of the Company in the State of Delaware
shall be the initial registered agent named in the Certificate or such other
Person or Persons as the Manager may designate from time to time in the manner
provided by law.  The Company will maintain an office and principal place of
business at such place or places inside or outside the State of Delaware as the
Manager may designate from time to time.

          Section II.5  Capital Contributions.
                        ---------------------

          (a)  The Investor shall, promptly following the execution of this
Agreement, contribute to the capital of the Company the amount set forth on
Schedule B. All future capital contributions made by any Member shall be
----------
reflected on the Company's books and records.  Persons hereafter admitted as
Members of the Company shall make such contributions of cash (or promissory
obligations), property or services to the Company as shall be determined by the
Manager and the Member making the contribution in their sole discretion at the
time of each such admission.

          (b)  No Member shall have any responsibility to restore any negative
balance in his, her or its Capital Account or to contribute to or in respect of
liabilities or obligations of the Company, whether arising in tort, contract or
otherwise, or return distributions made by the Company except as required by the
Act or other applicable law.  The failure of the Company to observe any
formalities or requirements relating to the exercise of its powers or management
of its business or affairs under this Agreement or the Act shall not be grounds
for imposing personal liability on the Member(s) for liabilities of the Company.

          (c)  No interest shall be paid by the Company on capital contributions
or on balances in Capital Accounts.

          (d)  A Member shall not be entitled to withdraw any part of its
Capital Account or to receive any distributions from the Company except as
provided in Articles IV and VI; nor shall a Member be entitled to make any
            -----------     --
capital contribution to the Company other than as expressly provided herein. Any
Member may, with the approval of the Manager, make loans to the Company, and any
loan by a Member to the Company shall not be considered to be a capital
contribution for any purpose and shall not result in an increase in the amount
of the Capital Account of such Member.

                                      -5-
<PAGE>

          Section II.6  Term.  The Company shall continue until dissolved and
                        ----
terminated in accordance with Article VI of this Agreement.
                              ----------

          Section II.7  No State-Law Partnership.  The Member(s) intend that the
                        ------------------------
Company not be a partnership (including, without limitation, a limited
partnership) or joint venture, and that no Member be a partner or joint venturer
of any other Member, for any purposes and neither this Agreement nor any other
document entered into by the Company or any Member shall be construed to suggest
otherwise.

                                  ARTICLE III

                               CAPITAL ACCOUNTS

          Section III.1 Capital Accounts. A capital account (a "Capital
                        ----------------                        -------
Account") shall be established for each Member and shall be maintained in
-------
accordance with Treasury Regulation Section 1.704-1(b)(2)(iv). The Capital
Account of each Member shall consist of his or its initial Capital Contribution
and shall be (a) increased by any additional Capital Contributions made by such
Member pursuant to the terms of this Agreement and such Member's share of items
of income and gain allocated to such Member pursuant to Article IV and (b)
                                                        ----------
decreased by such Member's share of items of loss, deduction and expense
allocated to such Member pursuant to Article IV and any distributions to such
                                     ----------
Member of cash or the fair market value of any other property (net of
liabilities assumed by such Member and liabilities to which such property is
subject) distributed to such Member.  Any references in this Agreement to the
Capital Account of a Member shall be deemed to refer to such Capital Account as
the same may be increased or decreased from time to time as set forth above.

          Section III.2 Computation of Amounts.  For purposes of computing the
                        ----------------------
amount of any item of income, gain, loss, deduction or expense to be reflected
in Capital Accounts, the determination, recognition and classification of each
such item shall be the same as its determination, recognition and classification
for federal income tax purposes, provided that:
                                 -------- ----

               (i)   The computation of all items of income, gain, loss and
deduction shall include those items described in Code Section 705(a)(l)(B) or
Code Section 705(a)(2)(B) and Treasury Regulation Section 1.704-1(b)(2)(iv)(i),
without regard to the fact that such items are not includable in gross income or
are not deductible for federal income tax purposes.

               (ii)  If the Book Value of any Company property is adjusted
pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(f), the amount of such
adjustment shall be taken into account as gain or loss from the disposition of
such property.

               (iii) Items of income, gain, loss or deduction attributable to
the disposition of Company property having a Book Value that differs from its
adjusted basis for tax purposes shall be computed by reference to the Book Value
of such property.

                                      -6-
<PAGE>

               (iv) Items of depreciation, amortization and other cost recovery
deductions with respect to Company property having a Book Value that differs
from its adjusted basis for tax purposes shall be computed by reference to the
property's Book Value in accordance with Treasury Regulation Section 1.704-
1(b)(2)(iv)(g).

               (v)  To the extent an adjustment to the adjusted tax basis of any
Company asset pursuant to Code Sections 732(d), 734(b) or 743(b) is required,
pursuant to Treasury Regulation Section  1.704-1(b)(2)(iv)(m), to be taken into
account in determining Capital Accounts, the amount of such adjustment to the
Capital Accounts shall be treated as an item of gain (if the adjustment
increases the basis of the asset) or loss (if the adjustment decreases such
basis).

          Section III.3  Distribution in Kind.  If securities or other property
                         --------------------
are to be distributed in kind to the Member(s) pursuant to this Agreement, (i)
such securities or other property shall first be written up or down pursuant to
Section 3.2 to their value (as determined pursuant to Article VII as of the date
-----------                                           -----------
of such distribution), (ii) the Capital Accounts of the Member(s) shall be
adjusted immediately prior to the distribution as if such securities or other
property were sold at their value (as so determined pursuant to Article VII) and
(iii) the value of such securities or other property (as so determined pursuant
to Article VII) received by each Member shall be debited against his, her or its
   -----------
respective Capital Account at the time of distribution.

          Section III.4  Certain Terms of Preferred Units.
                         --------------------------------

          (a)  Authorization and Issuance of Preferred Units.  The Company shall
               ---------------------------------------------
be authorized to issue up to 1,629,300 Preferred Units.  Except as approved by
the Manager, only the Investor shall have the right to acquire Preferred Units.
The Investor shall acquire all 1,629,300 of the Uncommitted Preferred Units for
an aggregate Capital Contribution of $3,400,000, such Capital Contribution to be
paid at Closing in the amount of $2,900,000 and $500,000 to be paid upon
notification of the Manager to make such payment.

          (b)  Conversion and Conversion Procedure of Preferred Units.
               ------------------------------------------------------

               (i)  At any time and from time to time, any holder of Preferred
Units may convert all or any portion of the Preferred Units (including any
fractional Unit) held by such holder into a number of Common Units computed by
multiplying the number of Preferred Units to be converted by the Conversion
Ratio (as defined in Section 3.4(c) below) then in effect.
                     --------------

               (ii) Except as otherwise provided herein, each conversion of a
Preferred Unit shall be deemed to have been effected as of the close of business
on the date that the Company records the conversion in its record books.  At the
time any such conversion has been effected, the rights of the former holder of
the Preferred Units so converted, as a holder of such Preferred Units, shall
cease and the Person or Persons whose name or names appear on the Company's
record books as the record owner of Common Units to be issued upon such
conversion shall be deemed to have become the holder or holders of record of the
Common Units represented therein.

                                      -7-
<PAGE>

               (iii) Notwithstanding any other provision hereof, if a conversion
of Preferred Units is to be made in connection with a public offering, liquidity
event or other transaction affecting the Company, the conversion of any
Preferred Units may, at the election of the holder thereof, be conditioned upon
the consummation of such transaction, in which case such conversion shall not be
deemed to be effective until such transaction has been consummated.

               (iv)  As soon as possible after a conversion has been effected
(but in any event within five business days), the Company shall deliver to the
converting holder:

               (A)   confirmation that the Company has recorded on its record
     books a number of Common Units issuable by reason of such conversion in
     such name or names and such denomination or denominations as the converting
     holder has specified;

               (B)   written confirmation that any Preferred Units which have
     not been converted have been recorded on the Company's record books as
     being held by the appropriate Member.

               (v)   The recordation of a holder's Common Units upon conversion
of Preferred Units, shall be made without charge to the holders of such
Preferred Units for any issuance tax in respect thereof or other cost incurred
by the Company in connection with such conversion and the related issuance of
Common Units. Upon conversion of each Preferred Unit, the Company shall take all
such actions as are necessary in order to insure that the Common Units issuable
with respect to such conversion shall be validly issued, fully paid, and
nonassessable, free and clear of all taxes, liens, charges, and encumbrances
with respect to the issuance thereof.

               (vi)  The Company shall not close its books against the transfer
of Preferred Units or of Common Units issued or issuable upon conversion of
Preferred Units in any manner which interferes with the timely conversion of
Preferred Units. The Company shall (at its expense) assist and cooperate with
any holder of Units required to make any governmental filings or obtain any
governmental approval before or in connection with any conversion of Units
hereunder (including making any filings required to be made by the Company).

          (c)  Conversion Ratio of Preferred Units.
               -----------------------------------

               (i)   The initial conversion ratio for Preferred Units shall be a
conversion to Common Units at a one-to-one (1:1) ratio (the "Conversion Ratio").
                                                             ----------------
The Conversion Ratio shall be subject to adjustment from time to time pursuant
to this Section 3.4(c).
        --------------

               (ii)  Subdivision; Combination. If the Company at any time
                     ------------------------
subdivides (by any unit split, unit dividend, recapitalization, or otherwise)
its Common Units into a greater number of Units, the Conversion Ratio in effect
immediately before such subdivision shall be proportionately increased, and if
the Company at any time combines (by reverse stock split or otherwise) its
Common Units into a smaller number of Units, then the Conversion Ratio in effect
immediately before such combination shall be proportionately decreased.
Appropriate adjustments

                                      -8-
<PAGE>

shall also be made to the number of Common Units reserved for issuance upon
conversion of the Preferred Units.

               (iii) Record Notice. The Company shall give written notice to all
                     -------------
holders of Preferred Units at least 10 days before the date on which the Company
closes its books or takes a record (i) with respect to any dividend or
distribution upon Common Units, (ii) with respect to any pro rata subscription
offer to holders of Common Units, or (iii) for determining rights to vote (if
any) with respect to Common Units.

          (d)  Liquidation Value of the Preferred. The initial Liquidation Value
               ----------------------------------
of each Preferred Unit shall be $2.09 (the "Liquidation Value").
                                            -----------------

          Section III.5  Certain Terms of Common Units.
                         -----------------------------

          (a)  Authorization and Issuance of Common Units.  The Company shall be
               ------------------------------------------
authorized to issue up to an aggregate total of all classes of Common Units of
8,420,000 Fully Diluted Common Units.  Common Units may be issued to any Member
or Additional Member in accordance with the terms of this Agreement.

          (b)  Initial Issuance of Common Units.  The initial issuance of Common
               --------------------------------
Units shall be as shown on Schedule A and as set forth below:

               (i)   Investor:  Investor shall receive 4,370,700 Common Units
                     --------
without payment of a Capital Contribution.

               (ii)  Executives. If and only if the RCP Acquisition is closed,
                     ----------
the Executives and Nancy Sokolowski shall receive upon payment of a Capital
Contribution in the amount of $0.005 per Unit an aggregate of 705,000 Restricted
Common Units.

               (iii) RCP Executives.  If and only if the RCP Acquisition is
                     --------------
closed, the RCP Executives shall receive as part of the purchase price for their
stock in the RCP Acquisition an aggregate of 1,425,000 Restricted Common Units.

          (c)  Restricted Common Units. Restricted Common Units shall be subject
               -----------------------
to such restrictions or provisions as are stipulated in a Unitholder's Agreement
signed by the Member and the Manager, and may include without limitation,
vesting, divestiture and transfer provisions.  Such restrictions shall be
recorded on the books of the Company, and such Common Units shall be designated
as "Restricted" on Schedule A, attached hereto, as it may be amended from time
to time.  Restricted Common Units shall not have voting rights and shall not be
entitled to distributions or allocations.  Restricted Common Units may be
converted to Common Units upon (i) expiration of all restrictions set forth in
the Unitholder Agreement, other than transfer restrictions unless specifically
stated otherwise in the Unitholder Agreement, (ii) written notification by the
Unitholder to the Manager, and (iii) amendment of Schedule A attached hereto in
accordance with the written notification and provisions of this Section 3.5(c).
                                                                --------------

                                     -9-
<PAGE>

          (d)  Reserved Common Units.  An aggregate of 1,629,300 Common Units
               ---------------------
shall be reserved for issuance upon conversion of the Preferred Units.

          (e)  Uncommitted Common Units.  The 290,000 Uncommitted Common Units
               ------------------------
shall be reserved by Company and may be issued to Members or Additional Members
in accordance with this Agreement, or in accordance with an option plan to be
established and maintained at the discretion of the Manager, which option plan
shall include 100,000 Common Units for potential issuance to RCP Employees.

          (f)  Restrictions on Transfer.  The written approval of the Manager
               ------------------------
shall be required prior to effecting any transfer of the Common Units.
Restricted Common Units may not be transferred, except pursuant to a repurchase
by, or a forfeiture to, the Company, or as otherwise set forth in a Unitholders
Agreement signed by the Member and the Manager.  The Common Units shall be
subject to the restrictions on transfer set forth in this Agreement, as amended
from time to time.

          (g)  Additional Restrictions on Transfer.  No holder of Common Units
               -----------------------------------
may sell, transfer, or dispose of any such Common Units (except to the Company
or pursuant to an effective registration statement under the 1933 Act) without
first delivering to the Company and the Manager an opinion (reasonably
acceptable in form and substance to the Company and Manager) of counsel
experienced in securities law matters that neither registration nor
qualification under the 1933 Act and applicable state securities laws is
required in connection with such transfer.

                                  ARTICLE IV
                        DISTRIBUTIONS; AND ALLOCATIONS

          Section IV.1  Distributions.
                        -------------

          (a)  Non-Liquidating Distributions. Except as otherwise set forth in
               -----------------------------
this Section 4.1 or 3.5(c) above, the Manager may in its sole discretion make
     -----------    ------
Distributions at any time or from time to time, except that the Manager shall
make an annual cash distribution to each Member in an amount equal to thirty-
eight percent (38%) of the income, net of loss, deduction, or expense, allocated
to each Member pursuant to Section 4.2 below.  Except as otherwise set forth in
                           -----------
this Section 4.1 or 3.5(c) above, each Distribution shall be made to the
     -----------    ------
Unitholders (ratably among such Unitholders based upon the number of outstanding
Units held by each such Unitholder immediately prior to such Distribution,
assuming that each Preferred Unitholder had converted all of his, her or its
Preferred Units into Common Units immediately prior to such Distribution and
Restricted Common Units were not authorized and outstanding; i.e., the Preferred
units shall be included on an as-if-converted basis for the purposes of all
calculations, and Restricted Common Units will not be included in the
calculations of allocations and distributions with respect to Common Units).

                                     -10-
<PAGE>

No Distribution shall be made under this Section 4.1(a) until the allocation of
                                         --------------
the Distributions to each Unitholder in accordance with this Section 4.1(a) is
                                                             --------------
determined and agreed to by the holders of a majority of the Preferred Units.

          (b)  Liquidating Distributions.  Upon the occurrence of any
               -------------------------
transaction involving the sale or other disposition of all or substantially all
of the assets of the Company and its Subsidiaries in one transaction or series
of related transaction or a merger or consolidation or other transaction which
accomplishes the foregoing (a "Liquidating Transaction"), and after the payment
                               -----------------------
or set aside by the Manager for the amounts described in Sections 6.2(a) and
                                                         -------------------
(b), Distributions shall be made in the following order and priority:
---

               (i)  First, if any of the Preferred Units are then outstanding,
to the Preferred Unitholders in an amount equal to the greater of (x) the
aggregate Liquidation Value with respect to such Preferred Unitholders'
outstanding Preferred Units or (y) the amount that such Preferred Unitholders
would receive if all of their outstanding Preferred Units were converted into
Common Units immediately prior to such Distribution (in each case in the
proportion that each Unitholder's share of aggregate Liquidation Value bears to
the aggregate Liquidation Value with respect to all Preferred Units outstanding
immediately prior to such Distribution) until all such Preferred Unitholders
have received Distributions under this clause (i) in respect of such
Unitholder's Preferred Units in an aggregate amount equal to the greater of the
amount referred to in clauses (x) and (y), and no Distribution or any portion
thereof may be made under any of the other paragraphs below until such entire
amount on the outstanding Preferred Units immediately prior to the time of such
Distribution has been paid in full; and

               (ii) Second, with respect to the then outstanding Common Units,
an amount equal to the amount of such Distribution that has not been distributed
pursuant to paragraph (i) of this Section 4.1(b) above (ratably among such
                                  --------------
Unitholders based upon the number of outstanding Common Units held by each such
Unitholder immediately prior to such Distribution).

No Distribution shall be made under this Section 4.1(b) until the allocation of
                                         --------------
the Distributions to each Unitholder in accordance with this Section 4.1(b) is
                                                             --------------
determined and agreed to  by the holders of a majority of the Preferred Units;
unless no Preferred Units are outstanding, in which case a majority of the
Common Units shall be required.

          (c)  Persons Receiving Distributions.  Each Distribution shall be made
               -------------------------------
to the Persons shown on the Company's books and records as Unitholders as of the
date of such Distribution, except as provided in Section 3.5(c).
                                                 --------------

          Section IV.2   Allocations. Except as otherwise provided in Section
                         -----------                                  -------
4.3 or 3.5(c), Profits and Losses for any fiscal  year or portion thereof shall
---    ------
be allocated among the Members in such a manner that, as of the end of such
fiscal year, the sum of (i) the Capital Account of each Member, (ii) such
Member's share of Minimum Gain (as determined according to Treasury Regulation
Section 1.704-2(g)) and (iii) such Member's partner nonrecourse debt minimum
gain (as defined in Treasury Regulation Section 1.704-2(i)(3)) shall be equal to
the respective net amounts,

                                     -11-
<PAGE>

positive or negative, which would be distributed to them or for which they would
be liable to the Company under the Delaware Act, determined as if the Company
were to (i) liquidate the assets of the Company for an amount equal to their
Book Value and (ii) distribute the proceeds of liquidation pursuant to Section
                                                                       -------
6.2 below.
---

          Section IV.3  Special Allocations.
                        -------------------

          (a)  Losses attributable to partner nonrecourse debt (as defined in
Treasury Regulation Section 1.704-2(b)(4)) shall be allocated in the manner
required by Treasury Regulation Section 1.704-2(i).  If there is a net decrease
during a Taxable Year in partner nonrecourse debt minimum gain (as defined in
Treasury Regulation Section 1.704-2(i)(3)), Profits for such Taxable Year (and,
if necessary, for subsequent Taxable Years) shall be allocated to the Members in
the amounts and of such character as determined according to Treasury Regulation
Section 1.704-2(i)(4).

          (b)  Nonrecourse deductions (as determined according to Treasury
Regulation Section 1.704-2(b)(1)) for any Taxable Year shall be allocated to the
Members, ratably based upon the number of outstanding Units held by each such
Member immediately prior to such allocation.  Except as otherwise provided in
Section 4.3(a), if there is a net decrease in the Minimum Gain during any
--------------
Taxable Year, each Member shall be allocated Profits for such Taxable Year (and,
if necessary, for subsequent Taxable Years) in the amounts and of such character
as determined according to Treasury Regulation Section 1.704-2(f).  This Section
                                                                         -------
4.3(b) is intended to be a minimum gain chargeback provision that complies with
------
the requirements of Treasury Regulation Section 1.704-2(f), and shall be
interpreted in a manner consistent therewith.

          (c)  If any Member that unexpectedly receives an adjustment,
allocation or distribution described in Treasury Regulation Section 1.704-
1(b)(2)(ii)(d)(4), (5) and (6) has an adjusted capital account deficit (as
determined according to Treasury Regulation Section 1.704-1(b)(2)(ii)(d)) as of
the end of any Taxable Year, computed after the application of Sections 4.3(a)
                                                               ---------------
and 4.3(b) but before the application of any other provision of this Article IV,
    ------                                                           ----------
then Profits for such Taxable Year shall be allocated to such Member in
proportion to, and to the extent of, such Adjusted Capital Account Deficit.
This Section 4.3(c) is intended to be a qualified income offset provision as
     --------------
described in Treasury Regulation Section 1.704-1(b)(2)(ii)(d) and shall be
interpreted in a manner consistent therewith.

          (d)  Profits and Losses described in Section 4.1(v) shall be allocated
                                               --------------
in a manner consistent with the manner that the adjustments to the Capital
Accounts are required to be made pursuant to Treasury Regulation Section 1.704-
1(b)(2)(iv)(j), (k) and (m).

          (e)  If, and to the extent that, any Member is deemed to recognize any
item of income, gain, loss, deduction or credit as a result of any transaction
between such Member and the Company pursuant to Code Sections 1272-1274, 7872,
483, 482 or any similar provision now or hereafter in effect, and the Manager
determines that any corresponding Profit or Loss of the Company should be
allocated to the Member who recognized such item in order to reflect the
Member's economic interests in the Company, then the Manager may so allocate
such Profit or Loss.

                                     -12-
<PAGE>

          Section IV.4  Tax Allocations.
                        ---------------

          (a)  The income, gains, losses, deductions, and credits of the Company
will be allocated, for federal, state, and local income tax purposes, among the
Unitholders in accordance with the allocation of such income, gains, losses,
deductions, and credits among the Unitholders for computing their Capital
Accounts; except that, if any such allocation is not permitted by the Code or
other applicable law, then the Company's subsequent income, gains, losses,
deductions, and credits will be allocated among the Unitholders so as to reflect
as nearly as possible the allocation set forth herein in computing their Capital
Accounts.

          (b)  Items of Company taxable income, gain, loss and deduction with
respect to any property contributed to the capital of the Company shall be
allocated among the Members in accordance with Code Section 704(c) so as to take
account of any variation between the adjusted basis of such property to the
Company for federal income tax purposes and its Book Value.

          (c)  If the Book Value of any Company asset is adjusted pursuant to
the requirements of Treasury Regulation Section 1.704-1(b)(2)(iv)(e) or (f),
subsequent allocations of items of taxable income, gain, loss and deduction with
respect to such asset shall take account of any variation between the adjusted
basis of such asset for federal income tax purposes and its Book Value in the
same manner as under Code Section 704 (c).

          (d)  Allocations of tax credits, tax credit recapture, and any items
related thereto shall be allocated to the Members according to their interests
in such items as determined by the Manager taking into account the principles of
Treasury Regulation Section 1.704-1(b)(4)(ii).

          (e)  Allocations pursuant to this Section 4.4 are solely for purposes
                                            -----------
of federal, state and local taxes and shall not affect, or in any way be taken
into account in computing, any Member's Capital Account or share of Profits,
Losses, Distributions or other Company items pursuant to any provision of this
Agreement.

          Section IV.5  Indemnification and Reimbursement for Payments on Behalf
                        --------------------------------------------------------
of a Unitholder.  If the Company is required by law to make any payment that is
---------------
specifically attributable to a Unitholder or a Unitholder's status as such
(including federal withholding taxes, state personal property taxes, and state
unincorporated business taxes), then such Unitholder shall indemnify the Company
in full for the entire amount paid (including interest, penalties and related
expenses).  The Company may pursue and enforce all rights and remedies it may
have against each Unitholder under this Section 4.5, including instituting a
                                        -----------
lawsuit to collect such indemnification and contribution with interest
calculated at a rate equal to 8% per annum, compounded as of the last day of
each year (but not in excess of the highest rate per annum permitted by law).

                                     -13-
<PAGE>

                                   ARTICLE V

                         MANAGEMENT AND MEMBER RIGHTS

          Section V.1  Management Authority.
                       --------------------

          (a)  The Manager shall have the sole right to manage the business of
the Company and shall have all powers and rights necessary, appropriate or
advisable to effectuate and carry out the purposes and business of the Company,
and, no Member (other than the Manager) shall have any authority to act for or
bind the Company but shall have only the right to vote on or approve the actions
herein specified to be voted on or approved by the Member(s).

          (b)  The Manager may appoint such officers to such terms and to
perform such functions as the Manager shall determine in its sole discretion.
The Manager may appoint, employ or otherwise contract with such other Persons
for the transaction of the business of the Company or the performance of
services for or on behalf of the Company as it shall determine in its sole
discretion. The Manager may delegate to any such officer or Person such
authority to act on behalf of the Company as the Manager may from time to time
deem appropriate in its sole discretion.

          (c)  When the taking of such action has been authorized by the
Manager, any officer of the Company or any other Person specifically authorized
by the Manager may execute any contract or other agreement or document on behalf
of the Company and may execute and file on behalf of the Company with the
Secretary of State of the State of Delaware any certificates of amendment to the
Company's certificate of formation, one or more restated certificates of
formation and certificates of merger or consolidation and, upon the dissolution
and completion of winding up of the Company, at any time when there are no
Members, or as otherwise provided in the Act, a certificate of cancellation
canceling the Company's certificate of formation.

          (d)  The Manager may be removed, with cause, by the affirmative vote
of a Majority in Interest of the Member(s). Upon such removal, a Majority in
Interest of the Member(s) shall appoint a successor Manager. The Manager may
resign at any time upon ten days' prior notice to the Member(s). Upon such
resignation, the Manager may appoint a successor Manager; provided that such
successor Manager must be approved by the affirmative vote of a Majority in
Interest of the Member(s).

          (e)  All decisions regarding the management and affairs of the Company
shall be made by the Manager.

          Section V.2  Indemnification.  Except as limited by law and subject to
                       ---------------
the provisions of this Section 5.2, each Indemnified Party shall be entitled to
                       -----------
be indemnified and held harmless on an as incurred basis by the Company (but
only after first making a claim for indemnification available from any other
source and only to the extent indemnification is not provided by that source) to
the fullest extent permitted under the Act (including indemnification for
negligence and breach of fiduciary duty to the extent so authorized but,
excluding gross negligence

                                     -14-
<PAGE>

or willful misconduct) as amended from time to time (but, in the case of any
such amendment, only to the extent that such amendment permits the Company to
provide broader indemnification rights than such law permitted the Company to
provide prior to such amendment) against all losses, liabilities and expenses,
including attorneys' fees and expenses, arising from claims, actions and
proceedings in which such Person may be involved, as a party or otherwise, by
reason of his being an Indemnified Party (including any action taken or not
taken by such Person in such capacity). The rights of indemnification provided
in this Section 5.2 will be in addition to any rights to which such Indemnified
        -----------
Party may otherwise be entitled by contract or as a matter of law and shall
extend to his successors and assigns. In particular, and without limitation of
the foregoing, such Indemnified Party shall be entitled to indemnification by
the Company against expenses (as incurred), including attorneys' fees and
expenses, incurred by such Indemnified Party upon the delivery by such
Indemnified Party to the Company of a written undertaking (reasonably acceptable
to the Manager). The Company may, to the extent authorized from time to time by
the Manager, grant rights to indemnification and to advancement of expenses to
any employee or agent of the Company who is not an Indemnified Party to the
fullest extent of the provisions of this Section 5.2 as if such Person were an
                                         -----------
Indemnified Party for purposes hereof.

          Section V.3  Transfer of Company Interest.
                       ----------------------------

          (a)  No Member shall sell, assign, transfer or otherwise dispose of,
whether voluntarily or involuntarily or by operation of law (a "Transfer"), all
                                                                --------
or any portion of his, her or its interest in the Company without the prior
written consent of the Manager, which consent may be given or withheld in its
sole discretion.  No Member shall pledge or otherwise encumber all or any
portion of his, her or its interest in the Company, without the prior written
consent of the Manager, which consent may be given or withheld in its sole
discretion.

          (b)  Notwithstanding any other provision of this Agreement, any
Transfer by the Member(s) in contravention of any of the provisions of this
Section 5.3 shall be void and ineffective, and shall not bind or be recognized
-----------
by the Company.

          (c)  If and to the extent any Transfer of an interest in the Company
is permitted hereunder, this Agreement (including the schedules hereto) shall be
amended by the Manager to reflect the Transfer of the Company interest to the
transferee, to admit the transferee as a Member and to reflect the elimination
of the transferring Member (or the reduction of such transferring Member's
interest in the Company) and (if and to the extent then required by the Act) a
certificate of amendment to the Certificate reflecting such admission and
elimination (or reduction) shall be filed in accordance with the Act. The
effectiveness of the Transfer of an interest in the Company permitted hereunder
and the admission of any substitute Member pursuant to this Section 5.3 shall be
                                                            -----------
deemed effective immediately prior to the Transfer of an interest in the Company
to such Member or, if later, on the first date that the Manager receives
evidence of such Transfer, including the terms thereof.  If the transferring
Member has Transferred all or any of its interest in the Company pursuant to
this Section 5.3, then, immediately following such Transfer or, if later, on the
     -----------
first date that the Manager receives evidence of such Transfer, including the
terms thereof, the transferring Member shall cease to be a Member with respect
to such interest.

                                     -15-
<PAGE>

          (d)  Any Person who acquires in any manner whatsoever any interest in
the Company, irrespective of whether such Person has accepted and adopted in
writing the terms and provisions of this Agreement, shall be deemed by the
acceptance of the benefits of the acquisition thereof to have (i) made all of
the capital contributions made by, (ii) received all of the distributions
received by, and (iii) agreed to be subject to and bound by all the terms and
conditions of this Agreement that, any predecessor in such interest in the
Company made, received and was subject to or bound by.

          (e)  Member's Obligation to Sell Common Units.  Notwithstanding any
               ----------------------------------------
other provisions of this Agreement, upon the written demand of the Manager,
Member and his or her Permitted Transferees shall sell all or any portion of his
or her Common Units to such purchaser or purchasers and upon such terms
(including purchase price) as may be determined by the Manager in its sole
discretion; provided, however, that the obligation of each Member and his or her
Permitted Transferees to so sell Common Units hereunder shall not arise unless
the holders of a Majority in Interest of the Fully Diluted Units of the Company
have agreed to sell, and shall sell such Common Units for the same purchase
price per Common Units and concurrently with the sale of the other Common Units
subject to such purchase.  Upon such sale, the transferred Common Units shall no
longer be subject to the terms hereof.

          Section V.4  Member Rights; Meetings.
                       -----------------------

          (a)  Member Rights. No Member, unless such Member is also the Manager,
               -------------
shall have any right, power or duty, including the right to approve or vote on
any matter, except as expressly required by the Act or other applicable law or
as expressly provided for hereunder.

          (b)  Required Vote. Unless a greater vote is required by the Act or as
               -------------
expressly provided for hereunder, the affirmative vote of a Majority in Interest
of the Member(s) entitled to vote shall be required to approve any proposed
action.

          (c)  Meetings.  Meetings of the Member(s) for the transaction of such
               --------
business as may properly come before such Member(s) shall be held at such place,
on such date and at such time as the Manager shall determine.  Special meetings
of Member(s) for any proper purpose or purposes may be called at any time by the
Manager or the Member(s) holding a Majority in Interest.  The Company shall
deliver oral or written notice (written notice may be delivered by mail) stating
the date, time, place and purposes of any meeting to each Member entitled to
vote at the meeting.  Such notice shall be given not less than four (4) and no
more than sixty (60) days before the date of the meeting.

          (d)  Written Consent.  Any action required or permitted to be taken at
               ---------------
an annual or special meeting of the Member(s) may be taken without a meeting,
without prior notice, and without a vote, provided that written consents,
setting forth all proposed actions to be taken at such meeting, are signed by
the Member(s) holding at least the minimum number of votes that would be
necessary to authorize or take such action at a meeting at which all Member(s)
entitled to vote on such action were present and voted.  Every written consent
shall bear the date and signature of each

                                     -16-
<PAGE>

Member who signs such consent. Notice of the taking of action without a meeting
by less than unanimous written consent shall be given to each Executive or RCP
Executive who has not consented in writing to such action.

          Section V.5  Additional Members. The Manager shall have the sole right
                       ------------------
to admit additional Members upon such terms and conditions and at such time or
times as the Manager shall in its sole discretion determine subject only to the
provisions of Section 5.6 below and any plan duly adopted by the Company and
approved by the Manger pursuant to Section 3.5(c) above.  In connection with any
                                   --------------
such admission, this Agreement (including the schedules hereto) shall be amended
by the Manager to reflect the name, address and capital contribution of the
additional Member and the new Percentage Interests of all Members, and (if and
to the extent then required by the Act) a certificate of amendment to the
Certificate reflecting such admission shall be filed in accordance with the Act.

          Section V.6  Preemptive Rights.  In the event of an increase to the
                       -----------------
number of Common Units authorized pursuant to Section 3.5(a) each member shall
                                              --------------
have a preemptive right to acquire an aggregate number of the new Common Units
sufficient to maintain such Member's percentage ownership of the Company at the
same level as it existed prior to such authorization of new Common Units.

          Section V.7  Outside Businesses.  Subject to any restrictions
                       ------------------
contained in any employment agreements with the Company, any Member may engage
in or possess an interest in other business ventures of any nature or
description, independently or with others, similar or dissimilar to the business
of the Company, and the Company and the Member(s) shall have no rights by virtue
of this Agreement in and to such independent ventures or the income or gains
derived therefrom, and the pursuit of any such venture, even if competitive with
the business of the Company, shall not be deemed wrongful or improper.  No
Member shall be obligated by virtue of this Agreement or by reason of being a
Member to present any particular investment opportunity to the Company even if
such opportunity is of a character that, if presented to the Company, could be
taken by the Company, and any Member shall have the right to take for his, her
or its own account (individually or as a partner or fiduciary) or to recommend
to others any such particular investment opportunity.

          Section V.8  Member Representations and Warranties.  Each Member
                       -------------------------------------
hereby represents and warrants to the Company and acknowledges that: (i) such
Member has such knowledge and experience in financial and business matters and
is capable of evaluating the merits and risks of an investment in the Company
and making an informed investment decision with respect thereto; (ii) such
Member is able to bear the economic and financial risk of an investment in the
Company for an indefinite period of time; (iii) such Member is acquiring
interests in the Company for investment only and not with a view to, or for
resale in connection with, any distribution to the public or public offering
thereof; (iv) the interests in the Company have not been registered under the
securities laws of any jurisdiction and cannot be disposed of unless they are
subsequently registered and/or qualified under applicable securities laws and
the provisions of this Agreement have been complied with; (v) the execution,
delivery and performance of this Agreement have been

                                     -17-
<PAGE>

duly authorized by such Member and do not require such Member to obtain any
consent or approval that has not been obtained and do not contravene or result
in a default under any provision of any law or regulation applicable to such
Member or other governing documents or any agreement or instrument to which such
Member is a party or by which such Member is bound, (vi) the determination of
such Member to purchase interests in the Company has been made by such Member
independent of any other Member and independent of any statements or opinions as
to the advisability of such purchase or as to the properties, business,
prospects or condition (financial or otherwise) of the Company and its
Subsidiaries which may have been made or given by any other Member or by any
agent or employee of any other Member and (vii) this Agreement is valid, binding
and enforceable against such Member in accordance with its terms.

                                  ARTICLE VI

                                   DURATION

          Section VI.1  Duration.  The Company shall be dissolved and its
                        --------
affairs wound up and terminated upon the first to occur of the following:
                                         --------------

          (a)  The vote of the Member(s) holding a Majority in Interest; or

          (b)  The entry of a decree of judicial dissolution under Section 18-
802 of the Act.

Except as otherwise set forth in this Article VI, the Member(s) intend for the
                                      ----------
Company to have perpetual existence.

          Section VI.2  Winding Up.
                        ----------

          Upon dissolution of the Company, the Company shall be liquidated in an
orderly manner.  The Manager shall be the liquidator pursuant to this Agreement
and shall proceed diligently to wind up the affairs of the Company and make
final distributions as provided herein and in the Act.  The costs of liquidation
shall be borne as a Company expense.  The steps to be accomplished by the
liquidator are as follows:

          (a)  First, the liquidator shall satisfy all of the Company's debts
and liabilities to creditors other than the Member(s) (whether by payment or the
reasonable provision for payment thereof);

          (b)  Second, the liquidator shall satisfy all of the Company's debts
and liabilities to the Member(s) (whether by payment or the reasonable provision
for payment thereof); and

          (c)  Third, all remaining assets shall be distributed to the Member(s)
in accordance with Section 4.1(b).
                   --------------

                                     -18-
<PAGE>

          Section VI.3   Termination.  The Company shall terminate when all of
                         -----------
the assets of the Company, after payment of or due provision for all debts,
liabilities and obligations of the Company, shall have been distributed to the
Member(s) in the manner provided for in this Article VI, and the certificate of
                                             ----------
formation of the Company shall have been canceled in the manner required by the
Act.

                                  ARTICLE VII

                                   VALUATION

          Section VII.1  Valuation.  For purposes of this Agreement, the value
                         ---------
of any property contributed by or distributed to any Member shall be valued as
determined by the Manager.

                                 ARTICLE VIII

                     CERTIFICATION OF MEMBERSHIP INTERESTS

          Section VIII.1 Membership Interests.  The Company may in its
                         --------------------
discretion issue certificates to the Member(s) representing the membership
interests in the Company held by each Member.

                                  ARTICLE IX

                          BOOKS OF ACCOUNT; MEETINGS

          Section IX.1   Books. The Manager will maintain, on behalf of the
                         -----
Company, complete and accurate books of account of the Company's affairs, which
books will be open to inspection by any Member (or his authorized
representative) at any time during ordinary business hours and shall be
maintained in accordance with the Act.

          Section IX.2   Fiscal Year.  The fiscal year of the Company shall end
                         -----------
on December 31 of each year or such other year end as the Manager may determine
in its sole discretion.

          Section IX.3   Taxes.
                         -----

          (a) Tax Returns.  The Company shall cause to be prepared and filed all
              -----------
necessary federal and state income tax returns for the Company and, subject to
Section 9.3(b), shall make any elections the Manager may in its sole discretion
--------------
deem appropriate and in the best interests of the Member(s).  Each Member shall
furnish to the Company all pertinent information in its possession relating to
Company operations that is necessary to enable the Company's income tax returns
to be prepared and filed any information necessary to give proper effect to such
election.  The Taxable Year shall be the Fiscal Year set forth in Section 9.2,
                                                                  -----------
unless the Manager shall determine otherwise in its sole discretion and in
compliance with applicable laws.

                                     -19-
<PAGE>

          (b) Tax Controversies.  The Manager is hereby designated the Tax
              -----------------
Matters Partner (as defined in Section 6231 of the Code) and is authorized and
required to represent the Company (at the Company's expense) in connection with
all examinations of the Company's affairs by tax authorities, including
resulting administrative and judicial proceedings, and to expend Company funds
for professional services and reasonably incurred in connection therewith.  Each
Member agrees to cooperate with the Company and to do or refrain from doing any
or all things reasonably requested by the Company with respect to the conduct of
such proceedings.  The Tax Matters Partner shall keep all Members reasonably
informed of the progress of any examinations, audits or other proceedings.

          (c) Election to be Taxed as a Partnership.  The Company shall elect to
              -------------------------------------
be taxed as a partnership for federal and state income tax purposes, effective
not later than the date on which the Initial Member makes the capital
contribution required by Section 2.5.  At the request of the Manager, each
                         -----------
Member shall cooperate with the Company in the filing of any election,
certificate, form or other document intended to secure partnership tax status
for the Company (including, without limitation, Form 8832 pursuant to Treasury
Regulation 301.7701-3(c) and any corresponding state form, if required),
including the execution by such Person of any such document.

                                   ARTICLE X

                                 MISCELLANEOUS

          Section X.1  Amendments.  This Agreement, including the Schedules A
                       ----------
and B hereto, may be amended or modified and any provision hereof may be waived
only by a Majority in Interest of the Members; provided, however, that any
amendment or modification reducing disproportionately a Member's interest in the
Company or other interest in the profits or losses or in distributions or
increasing such Member's capital contribution shall be effective only with that
Member's consent.

          Section X.2  Successors.  Except as otherwise provided herein, this
                       ----------
Agreement will inure to the benefit of and be binding upon the Member(s) and
their respective legal representatives, heirs, successors and permitted assigns.

          Section X.3  Governing Law; Severability.  This Agreement will be
                       ---------------------------
construed in accordance with the laws of the State of Delaware and, to the
maximum extent possible, in such manner as to comply with an the terms and
conditions of the Act.  If it is determined by a court of competent jurisdiction
that any provision of this Agreement is invalid under applicable law, such
provision will be ineffective only to the extent of such prohibition or
invalidity, without invalidating the remainder of this Agreement.

          Section X.4  Notices.  All notices, demands and other communications
                       -------
to be given and delivered under or by reason of provisions under this Agreement
shall be in writing and shall be deemed to have been given when personally
delivered, mailed by first class mail (postage prepaid and return receipt
requested), sent by telecopy or sent by reputable overnight courier service
(charges

                                     -20-
<PAGE>

prepaid) to the addresses or telecopy numbers set forth in Schedule A hereto or
                                                           ----------
to such other addresses or telecopy numbers as have been supplied in writing to
the Company.

          Section X.5  Complete Agreement; Headings, Counterparts.  This
                       ------------------------------------------
Agreement terminates and supersedes all other agreements concerning the subject
matter hereof previously entered into among any of the parties.  Descriptive
headings are for convenience only and will not control or affect the meaning or
construction of any provision of this Agreement.  Wherever from the context it
appears appropriate, each term stated in either the singular or the plural shall
include both the singular and the plural, and pronouns stated in either the
masculine, feminine or the neuter gender shall include the masculine, the
feminine and the neuter.  This Agreement may be executed in any number of
counterparts, none of which need contain the signatures of more than one party,
but all such counterparts together will constitute one agreement.

          Section X.6  Partition.  Each Member waives, until termination of the
                       ---------
Company, any and all rights that it may have to maintain an action for partition
of the Company's property.

          Section X.7  No Strict Construction.  The parties hereto have
                       ----------------------
participated jointly in the negotiation and drafting of this Agreement.  In the
event an ambiguity or question of intent or interpretation arises, this
Agreement shall be construed as if drafted jointly by the parties hereto, and no
presumption or burden of proof shall arise favoring or disfavoring any party by
virtue of the authorship of any of the provisions of this Agreement.

                               * * * * * * * * *

                                     -21-
<PAGE>

          IN WITNESS WHEREOF, the parties hereto have caused this Limited
Liability Company Agreement to be signed as of the date first above written.

ONEPOINT COMMUNICATIONS CORP.

By:____________________________     ___________________________________
                                    Al Moschner
Its:___________________________

                                    ___________________________________
                                    Tim Ostrowski

                                    ___________________________________
                                    Oscar Aguiar, Jr.

                                    ___________________________________
                                    James A. Silva

                                    ___________________________________
                                    Nancy Sokolowski

                                     -22-
<PAGE>

                                  SCHEDULE A

                            Dated November 23, 1999

<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------
                                                                                               FULLY
          UNITHOLDER/MEMBER                     NUMBER OF       UNIT CLASS                    DILUTED
                                                  UNITS                                      PERCENTAGE
                                                                                              INTEREST
----------------------------------------------------------------------------------------------------------
<S>                                             <C>             <C>                          <C>
OnePoint Communications Corp.                    4,370,700        Common                        51.9%
2201 Waukegan Road, Suite 2200                   1,629,300       Preferred                      19.4%
                                                                   Total                      ------
Bannockburn, Illinois 60015                                                                     71.3%
Telephone:  (847) 374-3700
Telecopy:   (847) 374-1070
Attention:  John Stavig

With Copy which shall not constitute
notice to:

KIRKLAND & ELLIS
200 East Randolph Drive
Chicago, Illinois 60601
Attention:  Willard G. Fraumann, P.C.
Telephone:  (312) 861-2000
Telecopy:   (312) 861-2200
----------------------------------------------------------------------------------------------------------
Al Moschner                                        534,000      Restricted                      6.34%
                                                                  Common
----------------------------------------------------------------------------------------------------------
Tim Ostrowski                                      169,500      Restricted                      2.01%
                                                                  Common
----------------------------------------------------------------------------------------------------------
Oscar Aguiar, Jr.                                  712,500      Restricted                      8.46%
                                                                  Common
----------------------------------------------------------------------------------------------------------
James A. Silva                                     712,500      Restricted                      8.46%
                                                                  Common
----------------------------------------------------------------------------------------------------------
Nancy Sokolowski                                     1,500      Restricted                    0.0002%
                                                                  Common
----------------------------------------------------------------------------------------------------------
Uncommitted Units                                  290,000        Common                        3.44%
                                                                 (Reserved
                                                               for Employee
----------------------------------------------------------------------------------------------------------
</TABLE>

                                     -23-
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
                                                                                               FULLY
          UNITHOLDER/MEMBER                     NUMBER OF       UNIT CLASS                    DILUTED
                                                  UNITS                                      PERCENTAGE
                                                                                              INTEREST
----------------------------------------------------------------------------------------------------------
<S>                                             <C>         <C>                              <C>
                                                             Incentive Plan and
                                                            Additional Members)

                                                 1,629,300        Common
                                                                 (Reserved                      19.4%
                                                             for Conversion of
                                                                Preferred)

----------------------------------------------------------------------------------------------------------
Total Fully Diluted Units                        8,420,000      All Classes                    100.0%
----------------------------------------------------------------------------------------------------------
</TABLE>

                                     -24-
<PAGE>

                                  SCHEDULE B

                            Dated November 23, 1999

----------------------------------------------------------------------
     UNITHOLDER/MEMBER                                      CAPITAL
                                                         CONTRIBUTION
----------------------------------------------------------------------
OnePoint Communications Corp.                            $3,400,000.00
2201 Waukegan Road, Suite 2200
Bannockburn, Illinois 60015
Telephone:   (847) 374-3700
Telecopy:    (847) 374-1070
Attention:   John Stavig

With Copy which shall not constitute notice to:

KIRKLAND & ELLIS
200 East Randolph Drive
Chicago, Illinois 60601
Attention:  Willard G. Fraumann, P.C.
Telephone:   (312) 861-2000
Telecopy:    (312) 861-2200
----------------------------------------------------------------------
Al Moschner                                              $    2,670.00
----------------------------------------------------------------------
Tim Ostrowski                                            $      847.50
----------------------------------------------------------------------
Oscar Aguiar, Jr.                                        $    3,562.50
----------------------------------------------------------------------
James. A. Silva                                          $    3,562.50
----------------------------------------------------------------------
Nancy Sokolowski                                         $        7.50
----------------------------------------------------------------------
Total Capital Contributions                              $3,410,650.00
----------------------------------------------------------------------

                                     -25-
<PAGE>

                         ADDITIONAL MEMBER ACCEPTANCE

     Pursuant to the requirements in Section 5.5 of the Limited Liability
Company Agreement of OnePoint Services, L.L.C., dated as of November ___, 1999
(the "Agreement"), [Additional Member] and [Additional Member] seek to be
admitted as Additional Members and hereby are admitted as Additional Members
having satisfied the terms and conditions specified by, and such admission
having been approved by, the Manager.  All capitalized terms used herein shall
have the meaning given in the Agreement.

     The First Amended Schedules A and B to the Agreement are deleted in their
entirely and replaced by the attached Second Amended Schedules A and B, dated
November ___, 1999.

     IN WITNESS WHEREOF, the parties have caused this Additional Member
Acceptance to be signed as of the date first written above as evidence of their
agreement to become Additional Members and to be bound by the terms of the
Agreement.

                                             __________________________________
                                             [Additional Member]

                                             __________________________________
                                             [Additional Member]

                                             ONEPOINT COMMUNICATIONS, INC.

                                             By:_______________________________
                                             Its:______________________________

                                     -26-

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