Document:

<PAGE>   1

                                                                EXHIBIT 10.92(f)

THIS WARRANT AND ANY SECURITIES ACQUIRED UPON EXERCISE OF THIS WARRANT HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES
LAWS OF ANY STATE AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND
APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN APPLICABLE EXEMPTION TO THE
REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS. THIS WARRANT AND SUCH
SECURITIES MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT IN
COMPLIANCE WITH THE CONDITIONS SPECIFIED IN THIS WARRANT, COPIES OF WHICH WILL
BE MADE AVAILABLE UPON REQUEST.

                          OUTSOURCE INTERNATIONAL, INC.

                          COMMON STOCK PURCHASE WARRANT

No. W-4                                                          August 15, 2000

                                               Warrant to Purchase up to 200,000
                                                          Shares of Common Stock

                  OUTSOURCE INTERNATIONAL, INC., a Florida corporation (the
"Corporation"), for value received, hereby certifies that ABLECO HOLDING LLC, a
Delaware limited liability company, or its registered assigns (the "Holder"), is
entitled to purchase from the Corporation the number of duly authorized, validly
issued, fully paid and nonassessable shares of Common Stock, par value $0.001
per share, of the Corporation (the "Common Stock"), equal to the Warrant
Quantity, at a purchase price of $0.01 per share (the "Warrant"), at any time or
from time to time on and after the date that any Letter of Credit (as defined in
the Financing Agreement) is first drawn upon (the "Exercise Date"), but prior to
5:00 P.M., New York City time, on August 15, 2005 (the "Expiration Date"),
subject to the terms, conditions and adjustments set forth below in this
Warrant; provided, that if all of the Letters of Credit have expired without
having been drawn upon, the Expiration Date shall be the date of expiration of
all such Letters of Credit.

                  1. Definitions. As used herein, unless the context otherwise
requires, the following terms shall have the meanings indicated:

                  "Additional Shares of Common Stock" shall mean all shares
(including treasury shares) of Common Stock issued or sold (or, pursuant to
Section 3.3 or 3.4, deemed to be issued) by the Corporation after the date
hereof, whether or not subsequently reacquired or retired by the Corporation,
other than

<PAGE>   2

                  (a) shares issued upon the exercise of this Warrant,

                  (b) such number of additional shares as may become issuable
upon the exercise of this Warrant by reason of adjustments required pursuant to
the anti-dilution provisions applicable to this Warrant as in effect on the date
hereof,

                  (c) shares, warrants, options and other securities issued by
the Corporation at any time to the Holder or any Affiliate thereof,

                  (d) (i) shares of Common Stock or options exercisable
therefor, issued or to be issued under any employee stock option, purchase or
bonus plan or plans (including without limitation any profit sharing or 401(k)
matching plans), or pursuant to compensatory or incentive agreements, for
directors, officers, employees or consultants of the Corporation or any of its
Subsidiaries, in each case adopted or assumed after such date by the
Corporation's Board of Directors and stockholders; provided in each case that
the exercise or purchase price or other consideration for any such share shall
not be less than 85% of the fair market value of the Common Stock (as determined
in the reasonable business judgment of the Corporation's Board of Directors) on
the date of the grant, and (ii) such additional number of shares as may become
issuable pursuant to the terms of any such plans or agreements by reason of
adjustments required pursuant to antidilution provisions applicable to such
securities in order to reflect any subdivision or combination of Common Stock,
by reclassification or otherwise, or any dividend on Common Stock payable in
Common Stock,

                  (e) shares of Common Stock issuable upon the exercise of
currently outstanding warrants, as set forth in the Financing Agreement, to
purchase Common Stock,

                  (f) shares of Common Stock issued at a price per share of not
less than the Current Market Price at the time of issuance and having an
aggregate market value (based on such Current Market Price) not in excess of
$2,000,000, which is used by the Company to satisfy certain tax indemnification
obligations owing by the Company to the initial shareholders of the Company, or

                  (g) shares of Common Stock issued at a price per share of not
less than $7.00 per share in exchange for the cancellation of subordinated
promissory notes issued in connection with past acquisitions.

                  "Business Day" shall mean any day other than a Saturday or a
Sunday or any day on which national banks are authorized or required by law to
close. Any reference to "days" (unless Business Days are specified) shall mean
calendar days.

                  "Commission" shall mean the Securities and Exchange Commission
or any successor agency having jurisdiction to enforce the Securities Act.

                  "Common Stock" shall have the meaning assigned to it in the
introduction to this Warrant, such term to include any stock into which such
Common Stock shall have been changed or any stock resulting from any
reclassification of such Common Stock, and all other stock of

                                       2

<PAGE>   3

any class or classes (however designated) of the Corporation the holders of
which have the right, without limitation as to amount, either to all or to a
share of the balance of current dividends and liquidating dividends after the
payment of dividends and distributions on any shares entitled to preference.

                  "Corporation" shall have the meaning assigned to it in the
introduction to this Warrant, such term to include any corporation or other
entity which shall succeed to or assume the obligations of the Corporation
hereunder in compliance with Section 4.

                  "Convertible Securities" shall mean any evidences of
indebtedness, shares of stock (other than Common Stock) or other securities
directly or indirectly convertible into or exchangeable for Additional Shares of
Common Stock.

                  "Current Market Price" shall mean, on any date specified
herein, the average of the daily Market Price during the 10 consecutive trading
days commencing 15 trading days before such date, except that, if on any such
date the shares of Common Stock are not listed or admitted for trading on any
national securities exchange or quoted in the over-the-counter market, the
Current Market Price shall be the Market Price on such date; provided, that in
respect of shares of Common Stock issued under any plans or arrangements of the
types referred to in clause (d) of the definition of "Additional Shares of
Common Stock," Current Market Value shall mean the "current market value," "fair
market value" or comparable term (if any) that is defined in such plan.

                  "Exchange Act" shall mean the Securities Exchange Act of 1934,
as amended from time to time, and the rules and regulations thereunder, or any
successor statute.

                  "Exercise Date" shall have the meaning assigned to it in the
introduction to this Warrant.

                  "Expiration Date" shall have the meaning assigned to it in the
introduction to this Warrant.

                  "Fair Value" shall mean, on any date specified herein (i) in
the case of cash, the dollar amount thereof, (ii) in the case of a security, the
Current Market Price, and (iii) in all other cases, the fair value thereof (as
of a date which is within 20 days of the date as of which the determination is
to be made) determined jointly by the Corporation and the Holder; provided,
however, that if such parties are unable to reach agreement within a reasonable
period of time, the Fair Value shall be determined in good faith, by an
independent investment banking firm selected jointly by the Corporation and the
Holder or, if that selection cannot be made within ten days, by an independent
investment banking firm selected by the American Arbitration Association in
accordance with its rules, and provided further, that the Corporation shall pay
all of the fees and expenses of any third parties incurred in connection with
determining the Fair Value.

                  "Financing Agreement" shall mean that certain Financing
Agreement, dated as of the date hereof, as amended or otherwise modified from
time to time, among the Corporation,

                                       3

<PAGE>   4

Outsource International of America, Inc., Outsource Franchising, Inc., Guardian
Employer East, LLC, Guardian Employer West, LLC, the guarantors party thereto,
Ableco Finance LLC, as collateral agent and The CIT Group/Business Credit, Inc.,
as the administrative agent.

                  "Holder" shall have the meaning assigned to it in the
introduction to this Warrant.

                  "Initial Warrant Quantity" shall mean, at any time of
determination, that amount of shares of Common Stock equal to (a) the product
obtained by multiplying (i) 200,000 shares by (ii) a fraction (A) the numerator
of which shall be the aggregate amount drawn (without duplication) under all
Letters of Credit on or prior to the date of determination and (B) the
denominator of which shall be the initial aggregate stated amounts of all such
Letters of Credit, minus (b) the aggregate amount of shares of Common Stock
already issued upon the exercise of this Warrant on or prior to the date of
determination; provided, however, that if a draw occurs under any Letter of
Credit at any time that an Event of Default (as defined in the Financing
Agreement) has occurred and is continuing, the Initial Warrant Quantity shall be
equal to 200,000 shares of Common Stock minus the aggregate amount of shares of
Common Stock already issued upon the exercise of this Warrant on or prior to the
date of determination pursuant to the terms hereof without regard to the amount
drawn upon under such Letters of Credit.

                  "Market Price" shall mean, on any date specified herein, the
amount per share of the Common Stock, equal to (i) the last reported sale price
of such Common Stock, regular way, on such date or, in case no such sale takes
place on such date, the average of the closing bid and asked prices thereof
regular way on such date, in either case as officially reported on the principal
national securities exchange on which such Common Stock is then listed or
admitted for trading, (ii) if such Common Stock is not then listed or admitted
for trading on any national securities exchange but is designated as a national
market system security by the NASD, the last reported trading price of the
Common Stock on such date, (iii) if there shall have been no trading on such
date or if the Common Stock is not so designated, the average of the closing bid
and asked prices of the Common Stock on such date as shown by the NASD automated
quotation system, or (iv) if such Common Stock is not then listed or admitted
for trading on any national exchange or quoted in the over-the-counter market,
the fair value thereof (as of a date which is within 20 days of the date as of
which the determination is to be made) determined in good faith by an
independent investment banking firm selected jointly by the Corporation and the
Holder or, if that selection cannot be made within ten days, by an independent
investment banking firm selected by the American Arbitration Association in
accordance with its rules, and provided further, that the Corporation shall pay
all of the fees and expenses of any third parties incurred in connection with
determining the Market Price.

                  "NASD" shall mean the National Association of Securities
Dealers, Inc.

                  "Options" shall mean any rights, options or warrants to
subscribe for, purchase or otherwise acquire either Additional Shares of Common
Stock or Convertible Securities.

                  "Other Securities" shall mean any stock (other than Common
Stock) and other securities of the Corporation or any other Person (corporate or
otherwise) which the holders of this Warrant at any time shall be entitled to
receive, or shall have received, upon the exercise of

                                       4

<PAGE>   5

this Warrant, in lieu of or in addition to Common Stock, or which at any time
shall be issuable or shall have been issued in exchange for or in replacement of
Common Stock or Other Securities pursuant to Section 4 or otherwise.

                  "Person" shall mean any individual, firm, partnership,
corporation, trust, joint venture, association, joint stock company, limited
liability company, unincorporated organization or any other entity or
organization, including a government or agency or political subdivision thereof,
and shall include any successor (by merger or otherwise) of such entity.

                  "Purchase Price" shall mean $0.01 per share.

                  "Registration Rights Agreement" shall mean the Registration
Rights Agreement dated as of the date hereof between the Corporation and the
Holder.

                  "Restricted Securities" shall mean (i) any warrants bearing
the applicable legend set forth in Section 10.1, (ii) any shares of Common Stock
(or Other Securities) issued or issuable upon the exercise of this Warrant which
are (or, upon issuance, will be) evidenced by a certificate or certificates
bearing the applicable legend set forth in such Section, and (iii) any shares of
Common Stock (or Other Securities) issued subsequent to the exercise of this
Warrant as a dividend or other distribution with respect to, or resulting from a
subdivision of the outstanding shares of Common Stock (or other Securities) into
a greater number of shares by reclassification, stock splits or otherwise, or in
exchange for or in replacement of the Common Stock (or Other Securities) issued
upon such exercise, which are evidenced by a certificate or certificates bearing
the applicable legend set forth in such Section.

                  "Rights" shall have the meaning assigned to it in Section
3.10.

                  "Securities Act" shall mean the Securities Act of 1933, as
amended from time to time, and the rules and regulations thereunder, or any
successor statute.

                  "Warrant Quantity" initially shall mean the Initial Warrant
Quantity, which amount shall be subject to adjustment and readjustment from time
to time as provided in Section 3, and, as so adjusted or readjusted, shall
remain in effect until a further adjustment or readjustment is required by
Section 3.

                  "Warrant" shall have the meaning assigned to it in the
introduction to this Warrant.

                  2. Exercise of Warrant.

                  2.1. Manner of Exercise; Payment of the Purchase Price. (a)
This Warrant may be exercised by the Holder hereof, in whole or in part, at any
time or from time to time after the Exercise Date through the Expiration Date,
by surrendering to the Corporation at its principal office this Warrant, with
the form of Election to Purchase Shares attached hereto as Exhibit A (or a
reasonable facsimile thereof) duly executed by the Holder and accompanied by
payment of the Purchase Price for the number of shares of Common Stock specified
in such form.

                                       5

<PAGE>   6

                  (b) Payment of the Purchase Price may be made as follows (or
by any combination of the following): (i) in United States currency by cash or
delivery of a certified check or bank draft payable to the order of the
Corporation or by wire transfer to the Corporation, (ii) by cancellation of all
or any part of the unpaid principal amount of the then-outstanding Obligations
(as defined in the Financing Agreement) in an amount equal to the Purchase
Price, (iii) by cancellation of such number of the shares of Common Stock
otherwise issuable to the Holder upon such exercise as shall be specified in
such Election to Purchase Shares, such that the excess of the aggregate Current
Market Price of such specified number of shares on the date of exercise over the
portion of the Purchase Price attributable to such shares shall equal the
Purchase Price attributable to the shares of Common Stock to be issued upon such
exercise, in which case such amount shall be deemed to have been paid to the
Corporation and the number of shares issuable upon such exercise shall be
reduced by such specified number, or (iv) by surrender to the Corporation for
cancellation certificates representing shares of Common Stock of the Corporation
owned by the Holder (properly endorsed for transfer in blank) having a Current
Market Price on the date of Warrant exercise equal to the Purchase Price.

                  2.2. When Exercise Effective. Each exercise of this Warrant
shall be deemed to have been effected immediately prior to the close of business
on the Business Day on which this Warrant shall have been surrendered to, and
the Purchase Price shall have been received by, the Corporation as provided in
Section 2.1, and at such time the Person or Persons in whose name or names any
certificate or certificates for shares of Common Stock (or Other Securities)
shall be issuable upon such exercise as provided in Section 2.3 shall be deemed
to have become the holder or holders of record thereof for all purposes.

                  2.3. Delivery of Stock Certificates, etc.; Charges, Taxes and
Expenses. (a) As soon as practicable after each exercise of this Warrant, in
whole or in part, and in any event within ten days thereafter, the Corporation
shall cause to be issued in the name of and delivered to the Holder hereof or,
subject to Section 10, as the Holder may direct,

                      (i)  a certificate or certificates for the number of
         shares of Common Stock (or Other Securities) to which the Holder shall
         be entitled upon such exercise plus, in lieu of issuance of any
         fractional share to which the Holder would otherwise be entitled, if
         any, a check for the amount of cash equal to the same fraction
         multiplied by the Current Market Price per share on the date of Warrant
         exercise, and

                      (ii) in case such exercise is for less than all of
         the shares of Common Stock purchasable under this Warrant, a new
         Warrant or Warrants of like tenor, for the balance of the shares of
         Common Stock purchasable hereunder.

                  (b) Issuance of certificates for shares of Common Stock upon
the exercise of this Warrant shall be made without charge to the Holder hereof
for any issue or other incidental expense, in respect of the issuance of such
certificates, all of which such taxes and expenses shall be paid by the
Corporation; provided, however, that in the event certificates for shares of
Common Stock (or Other Securities) are to be issued in a name other than the
name of the

                                       6

<PAGE>   7

Holder, the Corporation may require as a condition thereof, the payment of a sum
sufficient to reimburse it for any transfer tax incidental thereto.

                  2.4.   Corporation to Reaffirm Obligations. The Corporation
shall, at the time of each exercise of this Warrant, upon the request of the
Holder hereof, acknowledge in writing its continuing obligation to afford to
such Holder all rights to which such Holder shall continue to be entitled after
such exercise in accordance with the terms of this Warrant, provided that if the
Holder of this Warrant shall fail to make any such request, such failure shall
not affect the continuing obligation of the Corporation to afford such rights to
the Holder.

                  2.5.   Tax Basis. The Corporation and the Holder hereby agree
that the tax basis of this Warrant for purposes of the Internal Revenue Code of
1986, as amended, shall be $1,000, and the treatment of this Warrant under such
Code by each of the Corporation and the Holder shall be consistent with such
agreement.

                  3.     Adjustment of Common Stock Issuable Upon Exercise.

                  3.1.   General; Warrant Quantity. This Warrant evidences the
right to purchase a number of shares of Common Stock equal to the Warrant
Quantity, subject to adjustment and readjustment as provided in this Section 3.

                  3.2.   Adjustment of Warrant Quantity.

                  3.2.1. Issuance of Additional Shares of Common Stock. In case
the Corporation at any time or from time to time after the date hereof shall
issue or sell Additional Shares of Common Stock (including Additional Shares of
Common Stock deemed to be issued pursuant to Section 3.3 or 3.4, but excluding
Additional Shares of Common Stock purchasable upon exercise of Rights referred
to in Section 3.10), the Warrant Quantity shall be increased, concurrently with
such issue or sale, to an amount determined by multiplying such Warrant Quantity
by a fraction

                  (a)    the numerator of which shall be the number of shares of
Common Stock outstanding immediately after such issue or sale, provided that,
for the purposes of this Section 3.2.1, (i) immediately after any Additional
Shares of Common Stock are deemed to have been issued pursuant to Section 3.3 or
3.4, such Additional Shares shall be deemed to be outstanding, and (ii) treasury
shares shall not be deemed to be outstanding, and

                  (b)    the denominator of which shall be the sum of (x) the
number of shares of Common Stock outstanding immediately prior to such issue or
sale and (y) the number of shares of Common Stock which the aggregate
consideration received by the Corporation for the total number of such
Additional Shares of Common Stock so issued or sold would purchase at such
Current Market Price.

                  3.2.2. Extraordinary Dividends and Distributions. In case the
Corporation at any time or from time to time after the date hereof shall
declare, order, pay or make a dividend or other distribution (including, without
limitation, any distribution of other or additional stock or other securities or
property or Options by way of dividend or spin-off, reclassification,

                                       7

<PAGE>   8

recapitalization or similar corporate rearrangement) on the Common Stock other
than (a) a dividend payable in Additional Shares of Common Stock or (b) a
dividend of Rights referred to in Section 3.10 hereof, then, in each such case,
the Corporation shall pay to the Holder of this Warrant, at the time such
dividend or distribution is paid to the holders of the Common Stock, an amount
equal to the product of (i) the Warrant Quantity and (ii) the Fair Value of such
dividend or distribution at the time of such dividend or distribution applicable
to one share of Common Stock; provided, that payment in respect of a dividend or
distribution made prior to the Exercise Date shall only be made by the
Corporation to the Holder if and when this Warrant becomes exercisable.

                  3.3. Treatment of Options and Convertible Securities. In case
the Corporation at any time or from time to time after the date hereof shall
issue, sell, grant or assume, or shall fix a record date for the determination
of holders of any class of securities of the Corporation entitled to receive,
any Options or Convertible Securities (whether or not the rights thereunder are
immediately exercisable), then, and in each such case, the maximum number of
Additional Shares of Common Stock (as set forth in the instrument relating
thereto, without regard to any provisions contained therein for a subsequent
adjustment of such number) issuable upon the exercise of such Options or, in the
case of Convertible Securities and Options therefor, the conversion or exchange
of such Convertible Securities, shall be deemed to be Additional Shares of
Common Stock issued as of the time of such issue, sale, grant or assumption or,
in case such a record date shall have been fixed, as of the close of business on
such record date (or, if the Common Stock trades on an ex-dividend basis, on the
date prior to the commencement of ex-dividend trading), provided, that, such
Additional Shares of Common Stock shall not be deemed to have been issued unless
(i) the consideration per share (determined pursuant to Section 3.5) of such
shares would be less than the Current Market Price in effect on the date of and
immediately prior to such issue, sale, grant or assumption or immediately prior
to the close of business on such record date (or, if the Common Stock trades on
an ex-dividend basis, on the date prior to the commencement of ex-dividend
trading), as the case may be, and (ii) such Additional Shares of Common Stock
are not purchasable pursuant to Rights referred to in Section 3.10, and
provided, further, that in any such case in which Additional Shares of Common
Stock are deemed to be issued:

                  (a)  whether or not the Additional Shares of Common Stock
underlying such Options or Convertible Securities are deemed to be issued, no
further adjustment of the Warrant Quantity shall be made upon the subsequent
issue or sale of Convertible Securities or shares of Common Stock upon the
exercise of such Options or the conversion or exchange of such Convertible
Securities, except in the case of any such Options or Convertible Securities
which contain provisions requiring an adjustment, subsequent to the date of the
issue or sale thereof, of the number of Additional Shares of Common Stock
issuable upon the exercise of such Options or the conversion or exchange of such
Convertible Securities by reason of (x) a change of control of the Corporation,
(y) the acquisition by any Person or group of Persons of any specified number or
percentage of the voting securities of the Corporation or (z) any similar event
or occurrence, each such case to be deemed hereunder to involve a separate
issuance of Additional Shares of Common Stock, Options or Convertible
Securities, as the case may be;

                                       8

<PAGE>   9

                  (b) if such Options or Convertible Securities by their terms
provide, with the passage of time or otherwise, for any increase in the
consideration payable to the Corporation, or decrease in the number of
Additional Shares of Common Stock issuable, upon the exercise, conversion or
exchange thereof (by change of rate or otherwise), the Warrant Quantity computed
upon the original issue, sale, grant or assumption thereof (or upon the
occurrence of the record date, or date prior to the commencement of ex-dividend
trading, as the case may be, with respect thereto), and any subsequent
adjustments based thereon, shall, upon any such increase or decrease becoming
effective, be recomputed to reflect such increase or decrease insofar as it
affects such Options, or the rights of conversion or exchange under such
Convertible Securities, which are outstanding at such time;

                  (c) upon the expiration (or purchase by the Corporation and
cancellation or retirement) of any such Options which shall not have been
exercised or the expiration of any rights of conversion or exchange under any
such Convertible Securities which (or purchase by the Corporation and
cancellation or retirement of any such Convertible Securities the rights of
conversion or exchange under which) shall not have been exercised, the Warrant
Quantity computed upon the original issue, sale, grant or assumption thereof (or
upon the occurrence of the record date, or date prior to the commencement of
ex-dividend trading, as the case may be, with respect thereto), and any
subsequent adjustments based thereon, shall, upon such expiration (or such
cancellation or retirement, as the case may be), be recomputed as if:

                      (i)  in the case of Options for Common Stock or
         Convertible Securities, the only Additional Shares of Common Stock
         issued or sold were the Additional Shares of Common Stock, if any,
         actually issued or sold upon the exercise of such Options or the
         conversion or exchange of such Convertible Securities and the
         consideration received therefor was the consideration actually received
         by the Corporation for the issue, sale, grant or assumption of all such
         Options, whether or not exercised, plus the consideration actually
         received by the Corporation (pursuant to Section 3.5) upon such
         exercise, or for the issue or sale of all such Convertible Securities
         which were actually converted or exchanged, plus the additional
         consideration, if any, actually received by the Corporation upon such
         conversion or exchange, and

                      (ii) in the case of Options for Convertible
         Securities, only the Convertible Securities, if any, actually issued or
         sold upon the exercise of such Options were issued at the time of the
         issue or sale, grant or assumption of such Options, and the
         consideration received by the Corporation for the Additional Shares of
         Common Stock deemed to have then been issued was the consideration
         actually received by the Corporation for the issue, sale, grant or
         assumption of all such Options, whether or not exercised, plus the
         consideration deemed to have been received by the Corporation (pursuant
         to Section 3.5) upon the issue or sale of such Convertible Securities
         with respect to which such Options were actually exercised;

                  (d) no readjustment pursuant to subdivision (b) or (c) above
shall have the effect of decreasing the Warrant Quantity by an amount in excess
of the amount of the

                                       9
<PAGE>   10

adjustment thereof originally made in respect of the issue, sale, grant or
assumption of such Options or Convertible Securities; and

                  (e) in the case of any such Options which expire by their
terms not more than 30 days after the date of issue, sale, grant or assumption
thereof, no adjustment of the Warrant Quantity shall be made until the
expiration or exercise of all such Options, whereupon such adjustment shall be
made in the manner provided in subdivision (c) above.

                  3.4. Treatment of Stock Dividends, Stock Splits, etc. In case
the Corporation at any time or from time to time after the date hereof shall
declare or pay any dividend on the Common Stock payable in Common Stock, or
shall effect a subdivision of the outstanding shares of Common Stock into a
greater number of shares of Common Stock (by reclassification or otherwise than
by payment of a dividend in Common Stock), then, and in each such case,
Additional Shares of Common Stock shall be deemed to have been issued (a) in the
case of any such dividend, immediately after the close of business on the record
date for the determination of holders of any class of securities entitled to
receive such dividend, or (b) in the case of any such subdivision, at the close
of business on the day immediately prior to the day upon which such corporate
action becomes effective.

                  3.5. Computation of Consideration. For the purposes of this
Section 3,

                  (a) the consideration for the issue or sale of any Additional
Shares of Common Stock shall, irrespective of the accounting treatment of such
consideration,

                      (i)   insofar as it consists of cash, be computed at the
         amount of cash received by the Corporation, without deducting any
         expenses paid or incurred by the Corporation or any commissions or
         compensations paid or concessions or discounts allowed to underwriters,
         dealers or others performing similar services in connection with such
         issue or sale,

                      (ii)  insofar as it consists of property (including
         securities) other than cash, be computed at the Fair Value thereof at
         the time of such issue or sale, and

                      (iii) in case Additional Shares of Common Stock are issued
         or sold together with other stock or securities or other assets of the
         Corporation for a consideration which covers both, be the portion of
         such consideration so received, computed as provided in clauses (i) and
         (ii) above, allocable to such Additional Shares of Common Stock, such
         allocation to be determined in the same manner that the Fair Value of
         property not consisting of cash or securities is to be determined as
         provided in the definition of "Fair Value" herein;

                  (b) Additional Shares of Common Stock deemed to have been
issued pursuant to Section 3.3, relating to Options and Convertible Securities,
shall be deemed to have been issued for a consideration per share determined by
dividing

                                       10

<PAGE>   11

                      (i) the total amount, if any, received and receivable by
         the Corporation as consideration for the issue, sale, grant or
         assumption of the Options or Convertible Securities in question, plus
         the minimum aggregate amount of additional consideration (as set forth
         in the instruments relating thereto, without regard to any provision
         contained therein for a subsequent adjustment of such consideration)
         payable to the Corporation upon the exercise in full of such Options or
         the conversion or exchange of such Convertible Securities or, in the
         case of Options for Convertible Securities, the exercise of such
         Options for Convertible Securities and the conversion or exchange of
         such Convertible Securities, in each case computing such consideration
         as provided in the foregoing subdivision (a),

         by

                      (ii) the maximum number of shares of Common Stock (as set
         forth in the instruments relating thereto, without regard to any
         provision contained therein for a subsequent adjustment of such number)
         issuable upon the exercise of such Options or the conversion or
         exchange of such Convertible Securities; and

                  (c) Additional Shares of Common Stock deemed to have been
issued pursuant to Section 3.4, relating to stock dividends, stock splits, etc.,
shall be deemed to have been issued for no consideration.

                  3.6. Adjustments for Combinations, etc. In case the
outstanding shares of Common Stock shall be combined or consolidated, by
reclassification or otherwise, into a lesser number of shares of Common Stock,
the Warrant Quantity in effect immediately prior to such combination or
consolidation shall, concurrently with the effectiveness of such combination or
consolidation, be proportionately decreased.

                  3.7. Dilution in Case of Other Securities. In case any Other
Securities shall be issued or sold or shall become subject to issue or sale upon
the conversion or exchange of any stock (or Other Securities) of the Corporation
(or any issuer of Other Securities or any other Person referred to in Section 4)
or to subscription, purchase or other acquisition pursuant to any Options issued
or granted by the Corporation (or any such other issuer or Person) for a
consideration such as to dilute, on a basis consistent with the standards
established in the other provisions of this Section 3, the purchase rights
granted by this Warrant, then, and in each such case, the computations,
adjustments and readjustments provided for in this Section 3 with respect to the
Warrant Quantity shall be made as nearly as possible in the manner so provided
and applied to determine the amount of Other Securities from time to time
receivable upon the exercise of this Warrant, so as to protect the Holder of
this Warrant against the effect of such dilution.

                  3.8. De Minimis Adjustments. If the amount of any adjustment
of the Warrant Quantity required pursuant to this Section 3 would be less than
one-tenth (1/10) of one percent (1%) of the Warrant Quantity in effect at the
time such adjustment is otherwise so required to be made, such amount shall be
carried forward, and adjustment with respect thereto made, at the time of and
together with any subsequent adjustment which, together with such amount and any

                                       11

<PAGE>   12

other amount or amounts so carried forward, shall aggregate a change in the
Warrant Quantity of at least one-tenth (1/10) of one percent (1%) of such
Warrant Quantity. All calculations under this Warrant shall be made to the
nearest one-hundredth of a share.

                  3.9.  Abandoned Dividend or Distribution. If the Corporation
shall take a record of the holders of its Common Stock for the purpose of
entitling them to receive a dividend or other distribution (which results in an
adjustment to the Warrant Quantity under the terms of this Warrant) and shall,
thereafter, and before such dividend or distribution is paid or delivered to
stockholders entitled thereto, legally abandon its plan to pay or deliver such
dividend or distribution, then any adjustment made to the Warrant Quantity by
reason of the taking of such record shall be reversed, and any subsequent
adjustments, based thereon, shall be recomputed.

                  3.10. Stockholder Rights Plan. Notwithstanding the foregoing,
in the event that the Corporation shall distribute "poison pill" rights pursuant
to a "poison pill" stockholder rights plan (the "Rights"), the Corporation
shall, in lieu of making any adjustment pursuant to Section 3.2.1 or Section
3.2.2 hereof, make proper provision so that each Holder who exercises a Warrant
after the record date for such distribution and prior to the expiration or
redemption of the Rights shall be entitled to receive upon such exercise, in
addition to the shares of Common Stock issuable upon such exercise, a number of
Rights to be determined as follows: (i) if such exercise occurs on or prior to
the date for the distribution to the holders of Rights of separate certificates
evidencing such Rights (the "Distribution Date"), the same number of Rights to
which a holder of a number of shares of Common Stock equal to the number of
shares of Common Stock issuable upon such exercise at the time of such exercise
would be entitled in accordance with the terms and provisions of, and applicable
to, the Rights; and (ii) if such exercise occurs after the Distribution Date,
the same number of Rights to which a holder of the number of shares into which
this Warrant so exercised was exercisable immediately prior to the Distribution
Date would have been entitled on the Distribution Date in accordance with the
terms and provisions of and applicable to the Rights.

                  4.    Consolidation, Merger, etc.

                  4.1.  Adjustments for Consolidation, Merger, Sale of Assets,
Reorganization, etc. In case the Corporation after the date hereof (a) shall
consolidate with or merge into any other Person and shall not be the continuing
or surviving corporation of such consolidation or merger, (b) shall permit any
other Person to consolidate with or merge into the Corporation and the
Corporation shall be the continuing or surviving Person but, in connection with
such consolidation or merger, the Common Stock or Other Securities shall be
changed into or exchanged for stock or other securities of any other Person or
cash or any other property, (c) shall transfer all or substantially all of its
properties or assets to any other Person, or (d) shall effect a capital
reorganization or reclassification of the Common Stock or Other Securities
(other than a capital reorganization or reclassification resulting in the issue
of Additional Shares of Common Stock for which adjustment in the Warrant
Quantity is provided in Section 3.2.1 or 3.2.2), then, and in the case of each
such transaction, proper provision shall be made so that, upon the basis and the
terms and in the manner provided in this Warrant, the Holder of this Warrant,
upon the exercise hereof at any time after the consummation of such transaction,
shall

                                       12

<PAGE>   13

be entitled to receive (at the aggregate Purchase Price in effect at the time of
such consummation for all Common Stock or Other Securities issuable upon such
exercise immediately prior to such consummation), in lieu of the Common Stock or
Other Securities issuable upon such exercise prior to such consummation, the
highest amount of securities, cash or other property to which such Holder would
actually have been entitled as a stockholder upon such consummation if such
Holder had exercised this Warrant immediately prior thereto, subject to
adjustments (subsequent to such consummation) as nearly equivalent as possible
to the adjustments provided for in Sections 3 through 5.

                  4.2. Assumption of Obligations. Notwithstanding anything
contained in this Warrant or in the Financing Agreement to the contrary, the
Corporation shall not effect any of the transactions described in clauses (a)
through (d) of Section 4.1 unless, prior to the consummation thereof, each
Person (other than the Corporation) which may be required to deliver any stock,
securities, cash or property upon the exercise of this Warrant as provided
herein shall assume, by written instrument delivered to, and reasonably
satisfactory to, the Holder of this Warrant, (a) the obligations of the
Corporation under this Warrant (and if the Corporation shall survive the
consummation of such transaction, such assumption shall be in addition to, and
shall not release the Corporation from, any continuing obligations of the
Corporation under this Warrant), (b) the obligations of the Corporation under
the Registration Rights Agreement and (c) the obligation to deliver to the
Holder such shares of stock, securities, cash or property as, in accordance with
the foregoing provisions of this Section 4, the Holder may be entitled to
receive and such Person shall have similarly delivered to the Holder an opinion
of counsel for such Person, which counsel shall be reasonably satisfactory to
the Holder, stating that this Warrant shall thereafter continue in full force
and effect and the terms hereof (including, without limitation, all of the
provisions of this Section 4) shall be applicable to the stock, securities, cash
or property which such Person may be required to deliver upon any exercise of
this Warrant or the exercise of any rights pursuant hereto. Nothing in this
Section 4 shall be deemed to authorize the Corporation to enter into any
transaction not otherwise permitted by the Financing Agreement.

                  5.   Other Dilutive Events. In case any event shall occur as
to which, the provisions of Section 3 or Section 4 hereof are not strictly
applicable or if strictly applicable would not fairly protect the purchase
rights of the Holder in accordance with the essential intent and principles of
such Sections, then, in each such case, the Board of Directors of the
Corporation shall make an adjustment in the application of such provisions, in
accordance with such essential intent and principles, so as to preserve, without
dilution, the purchase rights represented by this Warrant.

                  6.   No Dilution or Impairment. The Corporation shall not, by
amendment of its certificate of incorporation or through any consolidation,
merger, reorganization, transfer of assets, dissolution, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms, and in the taking of
all such action, as may be necessary or appropriate in order to protect the
rights of the Holder of this Warrant against dilution or other impairment.
Without limiting the generality of the

                                       13

<PAGE>   14

foregoing, the Corporation (a) shall not permit the par value of any shares of
stock receivable upon the exercise of this Warrant to exceed the amount payable
therefor upon such exercise, (b) shall take all such action as may be necessary
or appropriate in order that the Corporation may validly and legally issue fully
paid and nonassessable shares of stock, free from all taxes, liens, security
interests, encumbrances, preemptive rights and charges on the exercise of this
Warrant from time to time outstanding, (c) shall not take any action which
results in any adjustment of the Warrant Quantity if the total number of shares
of Common Stock (or Other Securities) issuable after the action upon the
exercise of all of this Warrant would exceed the total number of shares of
Common Stock (or Other Securities) then authorized by the Corporation's
certificate of incorporation and available for the purpose of issue upon such
exercise, and (d) shall not issue any capital stock of any class which is
preferred as to dividends or as to the distribution of assets upon voluntary or
involuntary dissolution, liquidation or winding up, unless the rights of the
holders thereof shall be limited to a fixed sum or percentage of par value or a
sum determined by reference to a formula based on a published index of interest
rates, an interest rate publicly announced by a financial institution or a
similar indicator of interest rates in respect of participation in dividends and
to a fixed sum or percentage of par value in any such distribution of assets.

                  7.  ACCOUNTANTS' REPORT. In each case of any adjustment or
readjustment in the shares of Common Stock (or Other Securities) issuable upon
the exercise of this Warrant, the Corporation, at its sole expense, shall
promptly compute such adjustment or readjustment in accordance with the terms of
this Warrant and cause independent certified public accountants of recognized
national standing (which may be the regular auditors of the Corporation)
selected by the Corporation to verify such computation (other than any
computation of the Fair Value of property) and prepare a report setting forth
such adjustment or readjustment and showing in reasonable detail the method of
calculation thereof and the facts upon which such adjustment or readjustment is
based, including a statement of (a) the consideration received or to be received
by the Corporation for any Additional Shares of Common Stock issued or sold or
deemed to have been issued, (b) the number of shares of Common Stock outstanding
or deemed to be outstanding, and (c) the Warrant Quantity in effect immediately
prior to such issue or sale and as adjusted and readjusted (if required by
Section 3) on account thereof. The Corporation shall forthwith mail a copy of
each such report to each holder of a Warrant and shall, upon the written request
at any time of any holder of a Warrant, furnish to such holder a like report.
The Corporation shall also keep copies of all such reports at its principal
office and shall cause the same to be available for inspection at such office
during normal business hours by any holder of a Warrant or any prospective
purchaser of a Warrant designated by the holder thereof.

                  8.  Notices of Corporate Action. In the event of:

                  (a) any taking by the Corporation of a record of the holders
of any class of securities for the purpose of determining the holders thereof
who are entitled to receive any dividend or other distribution, or any right to
subscribe for, purchase or otherwise acquire any shares of stock of any class or
any other securities or property, or to receive any other right, or

                                       14

<PAGE>   15

                  (b)   any capital reorganization of the Corporation, any
reclassification or recapitalization of the capital stock of the Corporation,
any consolidation or merger involving the Corporation and any other Person, any
transaction or series of transactions by the Corporation in which more than 50%
of the voting securities of the Corporation are transferred to another Person,
or any transfer, sale or other disposition of all or substantially all the
assets of the Corporation to any other Person, or

                  (c)   any voluntary or involuntary dissolution, liquidation or
winding-up of the Corporation,

the Corporation shall mail to each holder of a Warrant a notice specifying (i)
the date or expected date on which any such record is to be taken for the
purpose of such dividend, distribution or right, and the amount and character of
such dividend, distribution or right, and (ii) the date or expected date on
which any such reorganization, reclassification, recapitalization,
consolidation, merger, transfer, sale, disposition, dissolution, liquidation or
winding-up is to take place and the time, if any such time is to be fixed, as of
which the holders of record of Common Stock (or Other Securities) shall be
entitled to exchange their shares of Common Stock (or Other Securities) for the
securities or other property deliverable upon such reorganization,
reclassification, recapitalization, consolidation, merger, transfer,
dissolution, liquidation or winding-up. Such notice shall be mailed at least 30
days prior to the date therein specified.

                  9.    Registration of Common Stock. If any shares of Common
Stock required to be reserved for purposes of exercise of this Warrant require
registration with or approval of any governmental authority under any federal or
state law (other than the Securities Act) before such shares may be issued upon
exercise, the Corporation shall, at its expense and as expeditiously as
possible, use its best efforts to cause such shares to be duly registered or
approved, as the case may be. At any such time as Common Stock is listed on any
national securities exchange, the Corporation shall, at its expense, obtain
promptly and maintain the approval for listing on each such exchange, upon
official notice of issuance, the shares of Common Stock issuable upon exercise
of the then outstanding warrants and maintain the listing of such shares after
their issuance; and the Corporation shall also list on such national securities
exchange, shall register under the Exchange Act and shall maintain such listing
of, any Other Securities that at any time are issuable upon exercise of the
warrants, if and at the time that any securities of the same class shall be
listed on such national securities exchange by the Corporation.

                  10.   Restrictions on Transfer.

                  10.1. Restrictive Legends. Except as otherwise permitted by
this Section 10, each Warrant (including each Warrant issued upon the transfer
of any Warrant) shall be stamped or otherwise imprinted with a legend in
substantially the following form:

         "THIS WARRANT AND ANY SECURITIES ACQUIRED UPON THE EXERCISE OF THIS
         WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
         AMENDED, OR THE SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD,
         TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT

                                       15

<PAGE>   16

         PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND
         APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN APPLICABLE EXEMPTION
         TO THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS. THIS
         WARRANT AND SUCH SECURITIES MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE
         DISPOSED OF EXCEPT IN COMPLIANCE WITH THE CONDITIONS SPECIFIED IN THIS
         WARRANT, COPIES OF WHICH WILL BE MADE AVAILABLE UPON REQUEST."

Except as otherwise permitted by this Section 10, each certificate for Common
Stock (or Other Securities) issued upon the exercise of any Warrant, and each
certificate issued upon the transfer of any such Common Stock (or Other
Securities), shall be stamped or otherwise imprinted with a legend in
substantially the following form:

                  "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
         REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE
         SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD, TRANSFERRED OR
         OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
         STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR
         PURSUANT TO AN APPLICABLE EXEMPTION TO THE REGISTRATION REQUIREMENTS OF
         SUCH ACT AND SUCH LAWS. SUCH SECURITIES MAY NOT BE SOLD, TRANSFERRED OR
         OTHERWISE DISPOSED OF EXCEPT IN COMPLIANCE WITH THE CONDITIONS
         SPECIFIED IN THE COMMON STOCK PURCHASE WARRANT ISSUED BY OUTSOURCE
         INTERNATIONAL, INC., PURSUANT TO THE FINANCING AGREEMENT, DATED AS OF
         AUGUST 15, 2000, AS AMENDED OR OTHERWISE MODIFIED FROM TIME TO TIME,
         AMONG OUTSOURCE INTERNATIONAL, INC., OUTSOURCE INTERNATIONAL OF
         AMERICA, INC., GUARDIAN EMPLOYER EAST, LLC, GUARDIAN WEST, LLC, THE
         GUARANTORS PARTY THERETO, ABLECO FINANCE LLC, AS COLLATERAL AGENT AND
         THE CIT GROUP/BUSINESS CREDIT, INC., AS ADMINISTRATIVE AGENT, A
         COMPLETE AND CORRECT COPY OF WHICH IS AVAILABLE FOR INSPECTION AT THE
         PRINCIPAL OFFICE OF THE ISSUER HEREOF AND WILL BE FURNISHED TO THE
         HOLDER OF SUCH SECURITIES UPON WRITTEN REQUEST AND WITHOUT CHARGE."

                  10.2. Transfer to Comply With the Securities Act. Restricted
Securities may not be sold, assigned, pledged, hypothecated, encumbered or in
any manner transferred or disposed of, in whole or in part, except pursuant to
(i) an effective registration statement under the Securities Act and/or
applicable state securities or Blue Sky laws or (ii) an exemption from
registration under the Securities Act and such laws which, in the opinion of
counsel for the Holder, which counsel and opinion are reasonably satisfactory to
the Company, is available; provided, that no opinion of counsel shall be
required for any transfer to an affiliate of the Holder.

                                       16

<PAGE>   17

                  10.3. Termination of Restrictions. The restrictions imposed by
this Section 10 on the transferability of Restricted Securities shall cease and
terminate as to any particular Restricted Securities (a) when a registration
statement with respect to the sale of such securities shall have been declared
effective under the Securities Act and such securities shall have been disposed
of in accordance with such registration statement, (b) when such securities are
sold pursuant to Rule 144 (or any similar provision then in force) under the
Securities Act, or (c) when, in the opinion of both counsel for the Holder and
counsel for the Corporation, such restrictions are no longer required or
necessary in order to protect the Corporation against a violation of the
Securities Act upon any sale or other disposition of such securities without
registration thereunder. Whenever such restrictions shall cease and terminate as
to any Restricted Securities, the Holder shall be entitled to receive from the
Corporation, without expense, new securities of like tenor not bearing the
applicable legends required by Section 10.1.

                  11. REPRESENTATIONS OF THE CORPORATION.

                  11.1. Organization and Qualification. The Corporation is a
corporation duly organized and validly existing in good standing under the laws
of the jurisdiction in which it is incorporated, and has the requisite corporate
power to own its properties and to carry on its business as now being conducted.
The Corporation is duly qualified as a foreign corporation to do business and is
in good standing in every jurisdiction in which the nature of the business
conducted by it makes such qualification necessary.

                  11.2 Authorization; Enforcement; Compliance with Other
Instruments. (i) The Corporation has the requisite corporate power and authority
to enter into and perform its obligations under this Warrant and the
Registration Rights Agreement and to issue the shares of Common Stock issuable
upon exercise of this Warrant, (the "Warrant Shares") upon the exercise of this
Warrant, in accordance with the terms hereof, (ii) the execution and delivery of
this Warrant and the Registration Rights Agreement by the Corporation and the
consummation by it of the transactions contemplated hereby and thereby,
including, without limitation, the issuance of this Warrant and the reservation
for issuance and the issuance of the Warrant Shares, upon exercise of this
Warrant, have been duly authorized by the Corporation's Board of Directors and
no further consent or authorization is required by the Corporation, its Board of
Directors or its stockholders, (iii) this Warrant and the Registration Rights
Agreement have been duly executed and delivered by the Corporation, and (iv)
this Warrant and the Registration Rights Agreement constitute valid and binding
obligations of the Corporation enforceable against the Corporation in accordance
with their terms, except as such enforceability may be limited by general
principles of equity or applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation or similar laws relating to, or affecting generally, the
enforcement of creditors' rights and remedies.

                  11.3. Capitalization and Indebtedness. As of the date hereof,
the authorized capital stock of the Corporation consists of (i) 100,000,000
shares of Common Stock, par value $0.001 per share, of which, as of the date
hereof, 8,657,913 shares are issued and outstanding, plus 29,575 additional
shares authorized for issuance, but not yet issued and outstanding, 1,853,767
shares of Common Stock are issuable upon the exercise of outstanding stock
options and 1,179,413 shares of Common Stock are issuable upon the exercise of
outstanding warrants

                                       17

<PAGE>   18

and (ii) 10,000,000 shares of Preferred Stock, par value $0.001 per share, of
which, as of the date hereof, none of which are issued and outstanding. All of
the outstanding shares of Common Stock have been validly issued and are fully
paid and nonassessable. Except as set forth in the Financing Agreement, no
shares of Common Stock are subject to preemptive rights or any other similar
rights or any liens or encumbrances suffered or permitted by the Corporation.
Except as set forth in the Financing Agreement and as contemplated by this
Warrant, as of the date hereof, (i) there are no outstanding options, warrants,
scrip, rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities or rights convertible into, any shares of capital
stock of the Corporation or any of its subsidiaries, or contracts, commitments,
understandings or arrangements by which the Corporation or any of its
subsidiaries is or may become bound to issue additional shares of capital stock
of the Corporation or any of its subsidiaries or options, warrants, scrip,
rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities or rights convertible into, any shares of capital
stock of the Corporation or any of its subsidiaries, and (ii) there are no
agreements or arrangements under which the Corporation or any of its
subsidiaries is obligated to register the sale of any of their securities under
the Securities Act (except the Registration Rights Agreement). Except as set
forth in the Financing Agreement, there are no securities or instruments
containing anti-dilution or similar provisions that will be triggered by the
issuance of this Warrant or, upon exercise of this Warrant, the issuance of the
Warrant Shares.

                  11.4 Issuance of Warrant and Warrant Shares. This Warrant is
duly authorized and, except as set forth in the Financing Agreement, shall not
be subject to preemptive rights or other similar rights of stockholders of the
Corporation. The Warrant Shares have been duly authorized and reserved for
issuance upon exercise of this Warrant, and upon such exercise, will be validly
issued, fully paid and non-assessable, free from all taxes, liens and charges
with respect to the issue thereof, and will not be subject to preemptive rights
or other similar rights of stockholders of the Corporation.

                  11.5 No Conflicts. The execution, delivery and performance of
this Warrant and the Registration Rights Agreement by the Corporation, and the
consummation by the Corporation of the transactions contemplated hereby and
thereby (including, without limitation, the issuance of the Warrant Shares) will
not (i) result in a violation of any organizational documents governing the
Corporation or (ii) violate or conflict with, or result in a breach of any
provision of, or constitute a default (or an event which with notice or lapse of
time or both would become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation of, any material agreement,
indenture or instrument to which the Corporation or any of its subsidiaries is a
party, or result in a violation of any law, rule, regulation, order, judgment or
decree applicable to the Corporation or any of its subsidiaries or by which any
property or asset of the Corporation or any of its subsidiaries is bound or
affected. The Corporation is not required to obtain any consent, authorization
or order of, or make any filing or registration with, any court or governmental
or regulatory or self-regulatory agency in order for it to execute, deliver or
perform any of its obligations under or contemplated by this Warrant or the
Registration Rights Agreement in accordance with the terms hereof or thereof.
All consents, authorizations, orders, filings and registrations which the
Corporation is required to obtain pursuant to the preceding sentence have been
obtained or effected on or prior to the date hereof.

                                       18
<PAGE>   19

                  11.6. Investment Company Status. The Corporation is not and,
upon issuance of this Warrant or the Warrant Shares, will not be an "investment
company," a company controlled by an "investment company" or an "affiliated
person" of, or "promoter" or "principal underwriter" for, an "investment
company" as such terms are defined in the Investment Company Act of 1940, as
amended.

                  12. Reservation of Stock, etc. The Corporation shall at all
times reserve and keep available, solely for issuance and delivery upon exercise
of this Warrant, the number of shares of Common Stock (or Other Securities) from
time to time issuable upon exercise of this Warrant. All shares of Common Stock
(or Other Securities) issuable upon exercise of this Warrant shall be duly
authorized and, when issued upon such exercise, shall be validly issued and, in
the case of shares, fully paid and nonassessable, with no liability on the part
of the holders thereof, and, in the case of all securities, shall be free from
all taxes, liens, security interests, encumbrances, preemptive rights and
charges. The transfer agent for the Common Stock, which may be the Corporation
("Transfer Agent"), and every subsequent Transfer Agent for any shares of the
Corporation's capital stock issuable upon the exercise of any of the purchase
rights represented by this Warrant, are hereby irrevocably authorized and
directed at all times until the Expiration Date to reserve such number of
authorized and unissued shares as shall be requisite for such purpose. The
Corporation shall keep copies of this Warrant on file with the Transfer Agent
for the Common Stock and with every subsequent Transfer Agent for any shares of
the Corporation's capital stock issuable upon the exercise of the rights of
purchase represented by this Warrant. The Corporation shall supply such Transfer
Agent with duly executed stock certificates for such purpose.

                  13. Registration and Transfer of Warrants, etc.

                  13.1. Warrant Register; Ownership of Warrants. Each Warrant
issued by the Corporation shall be numbered and shall be registered in a warrant
register (the "Warrant Register") as it is issued and transferred, which Warrant
Register shall be maintained by the Corporation at its principal office or, at
the Corporation's election and expense, by a Warrant Agent or the Transfer
Agent. The Corporation shall be entitled to treat the registered holder of any
Warrant on the Warrant Register as the owner in fact thereof for all purposes
and shall not be bound to recognize any equitable or other claim to or interest
in such Warrant on the part of any other Person, and shall not be affected by
any notice to the contrary, except that, if and when any Warrant is properly
assigned in blank, the Corporation may (but shall not be obligated to) treat the
bearer thereof as the owner of such Warrant for all purposes. Subject to Section
10, a Warrant, if properly assigned, may be exercised by a new holder without a
new Warrant first having been issued.

                  13.2. Transfer of Warrants. Subject to compliance with Section
10, if applicable, this Warrant and all rights hereunder are transferable, in
whole or in part, without charge to the Holder hereof (other than transfer
taxes), upon surrender of this Warrant with a properly executed Form of
Assignment, attached hereto as Exhibit B, at the principal office of the
Corporation. Upon any partial transfer permitted by this Section 13.2, the
Corporation shall, at its expense (other than transfer taxes), issue and deliver
to the Holder a new Warrant of like

                                       19

<PAGE>   20

tenor, in the name of the Holder, which shall be exercisable for such number of
shares of Common Stock with respect to which rights under this Warrant were not
so transferred.

                  13.3. Replacement of Warrants. On receipt by the Corporation
of evidence reasonably satisfactory to the Corporation of the loss, theft,
destruction or mutilation of this Warrant and, in the case of any such loss,
theft or destruction of this Warrant, on delivery of an indemnity agreement
reasonably satisfactory in form and amount to the Corporation or, in the case of
any such mutilation, on surrender of such Warrant to the Corporation at its
principal office and cancellation thereof, the Corporation, at its expense,
shall execute and deliver, in lieu thereof, a new Warrant of like tenor.

                  13.4. Adjustments To Number of Shares. Notwithstanding the
number or kind of shares of Common Stock purchasable upon exercise of this
Warrant, any Warrant theretofore or thereafter issued may continue to express
the same number and kind of shares of Common Stock as are stated in this
Warrant, as initially issued.

                  13.5. Fractional Shares. Notwithstanding any adjustment
pursuant to Section 3 in the number of shares of Common Stock covered by this
Warrant or any other provision of this Warrant, the Corporation shall not be
required to issue fractions of shares upon exercise of this Warrant or to
distribute certificates which evidence fractional shares. In lieu of fractional
shares, the Corporation shall make payment to the Holder, at the time of
exercise of this Warrant as herein provided, in an amount in cash equal to such
fraction (after aggregation of all shares and fractional shares to be issued
upon such exercise) multiplied by the Current Market Price of a share of Common
Stock on the date of Warrant exercise.

                  14. Remedies; Specific Performance. The Corporation stipulates
that there would be no adequate remedy at law to the Holder of this Warrant in
the event of any default or threatened default by the Corporation in the
performance of or compliance with any of the terms of this Warrant and
accordingly, the Corporation agrees that, in addition to any other remedy to
which the Holder may be entitled at law or in equity, the Holder shall be
entitled to seek to compel specific performance of the obligations of the
Corporation under this Warrant, without the posting of any bond, in accordance
with the terms and conditions of this Warrant in any court of the United States
or any State thereof having jurisdiction, and if any action should be brought in
equity to enforce any of the provisions of this Warrant, the Corporation shall
not raise the defense that there is an adequate remedy at law. Except as
otherwise provided by law, a delay or omission by the Holder hereto in
exercising any right or remedy accruing upon any such breach shall not impair
the right or remedy or constitute a waiver of or acquiescence in any such
breach. No remedy shall be exclusive of any other remedy. All available remedies
shall be cumulative.

                  15. No Rights or Liabilities as Stockholder. Nothing contained
in this Warrant shall be construed as conferring upon the Holder hereof any
rights as a stockholder of the Corporation or as imposing any obligation on the
Holder to purchase any securities or as imposing any liabilities on the Holder
as a stockholder of the Corporation,

                                       20

<PAGE>   21

whether such obligation or liabilities are asserted by the Corporation or by
creditors of the Corporation.

                  16. Notices. All notices and other communications (and
deliveries) provided for or permitted hereunder shall be made in writing by hand
delivery, telecopier, any courier guaranteeing overnight delivery or first class
registered or certified mail, return receipt requested, postage prepaid,
addressed as follows:

                  If to the Corporation:    Outsource International, Inc.
                                            1690 South Congress Avenue
                                            Delray Beach, Florida 33445
                                            Attn:  Gary Meier
                                            Fax No. (561) 454-3644

                  with copies to:           Akerman Senterfitt
                                            350 East Las Olas Boulevard
                                            Suite 1600
                                            Fort Lauderdale, Florida 33301
                                            Attn: Donn Beloff, Esq.
                                            Fax No. (954) 463-2224

                  If to Holder:             Ableco Holding LLC
                                            c/o Ableco Finance LLC
                                            450 Park Avenue, 28th Floor
                                            New York, New York 10022
                                            Attn:  Eric F. Miller
                                            Fax No. (212) 891-2100

                  with copies to:           Schulte Roth & Zabel LLP
                                            900 Third Avenue
                                            New York, New York 10022
                                            Attn:  Frederic L. Ragucci, Esq.
                                            Fax No. 212-593-5955

                  All such notices and communications (and deliveries) shall be
deemed to have been duly given: at the time delivered by hand, if personally
delivered; when receipt is acknowledged, if telecopied; on the next Business
Day, if timely delivered to a courier guaranteeing overnight delivery; and five
days after being deposited in the mail, if sent first class registered or
certified mail, return receipt requested, postage prepaid; provided, that, the
exercise of any Warrant shall be effective in the manner provided in Section 2.

                  17. Amendments. This Warrant and any term hereof may not be
amended, modified, supplemented or terminated, and waivers or consents to
departures from the provisions hereof may not be given, except by written
instrument duly executed by the party

                                       21

<PAGE>   22

against which enforcement of such amendment, modification, supplement,
termination or consent to departure is sought.

                  18. Descriptive Headings, Etc. The headings in this Warrant
are for convenience of reference only and shall not limit or otherwise affect
the meaning of terms contained herein. Unless the context of this Warrant
otherwise requires: (1) words of any gender shall be deemed to include each
other gender; (2) words using the singular or plural number shall also include
the plural or singular number, respectively; (3) the words "hereof", "herein"
and "hereunder" and words of similar import when used in this Warrant shall
refer to this Warrant as a whole and not to any particular provision of this
Warrant, and Section and paragraph references are to the Sections and paragraphs
of this Warrant unless otherwise specified; (4) the word "including" and words
of similar import when used in this Warrant shall mean "including, without
limitation," unless otherwise specified; (5) "or" is not exclusive; and (6)
provisions apply to successive events and transactions.

                  19. CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER. THE VALIDITY
OF THIS WARRANT, THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF, AND
THE RIGHTS OF THE PARTIES HERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER
OR RELATED HERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA.

                  THE PARTIES AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN
CONNECTION WITH THIS WARRANT SHALL BE TRIED AND LITIGATED ONLY IN THE STATE AND
FEDERAL COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF NEW YORK. THE PARTIES
WAIVE, TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, ANY RIGHT EACH MAY HAVE TO
ASSERT THE DOCTRINE OF FORUM NON CONVENIENS OR TO OBJECT TO VENUE TO THE EXTENT
ANY PROCEEDING IS BROUGHT IN ACCORDANCE WITH THIS SECTION 19.

                  THE PARTIES HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY
TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS WARRANT
OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, INCLUDING CONTRACT CLAIMS, TORT
CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. THE
CORPORATION AND HOLDER REPRESENT THAT EACH HAS REVIEWED THIS WAIVER AND EACH
KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL. IN THE EVENT OF LITIGATION, A COPY OF THIS WARRANT MAY BE
FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

                  20. Registration Rights Agreement. The shares of Common Stock
(and Other Securities) issuable upon exercise of this Warrant (or upon
conversion of any shares of Common Stock issued upon such exercise) shall
constitute Registrable Securities (as

                                       22

<PAGE>   23

such term is defined in the Registration Rights Agreement). Each holder of this
Warrant shall be entitled to all of the benefits afforded to a holder of any
such Registrable Securities under the Registration Rights Agreement and such
holder, by its acceptance of this Warrant, agrees to be bound by and to comply
with the terms and conditions of the Registration Rights Agreement applicable to
such holder as a holder of such Registrable Securities.

                 21. Costs and Attorneys' Fees. In the event that any action,
suit or other proceeding is instituted concerning or arising out of this
Warrant, the Corporation agrees and the Holder, by taking and holding this
Warrant agrees, that the prevailing party shall recover from the non-prevailing
party all of such prevailing party's costs and reasonable attorneys' fees
incurred in each and every such action, suit or other proceeding, including any
and all appeals or petitions therefrom.

                  [Remainder of page intentionally left blank]

                                       23

<PAGE>   24

                  IN WITNESS WHEREOF, the Corporation has executed and delivered
this Warrant as of the date first above written.

                                        OUTSOURCE INTERNATIONAL, INC.

                                        By:  /s/ Jon H. Peterson
                                           ------------------------------------
                                           Name:    Jon H. Peterson
                                           Title:   Vice President

                         [Signature page to the Warrant]

<PAGE>   25

                                                   EXHIBIT A to
                                                   Common Stock Purchase Warrant

                                     FORM OF
                           ELECTION TO PURCHASE SHARES

                  The undersigned hereby irrevocably elects to exercise the
Warrant to purchase ____ shares of Common Stock, par value $0.001 per share
("Common Stock"), of OUTSOURCE INTERNATIONAL, INC. and hereby [makes payment of
$________ therefor] [or] [makes payment therefor by application pursuant to
Section 2.1(b)(ii) of the Warrant of $_______ aggregate principal amount of the
then-outstanding Obligations (as defined in the Financing Agreement) [or] [makes
payment therefor by reduction pursuant to Section 2.1(b)(iii) of the Warrant of
the number of shares of Common Stock otherwise issuable to the Holder upon
Warrant exercise by ___ shares] [or] [makes payment therefor by delivery of the
following Common Stock Certificates of the Corporation (properly endorsed for
transfer in blank) for cancellation by the Corporation pursuant to Section
2.1(b)(iv) of the Warrant, certificates of which are attached hereto for
cancellation __________ [list certificates by number and amount]]. The
undersigned hereby requests that certificates for such shares be issued and
delivered as follows:

ISSUE TO:
         -----------------------------------------------------------------------
                                     (NAME)

--------------------------------------------------------------------------------
                          (ADDRESS, INCLUDING ZIP CODE)

--------------------------------------------------------------------------------
                  (SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER)

DELIVER TO:
           ---------------------------------------------------------------------
                                     (NAME)

--------------------------------------------------------------------------------
                          (ADDRESS, INCLUDING ZIP CODE)

                  If the number of shares of Common Stock purchased (and/or
reduced) hereby is less than the number of shares of Common Stock covered by the
Warrant, the undersigned requests that a new Warrant representing the number of
shares of Common Stock not so purchased (or reduced) be issued and delivered as
follows:

ISSUE TO:
          ----------------------------------------------------------------------
                                (NAME OF HOLDER)

--------------------------------------------------------------------------------
                          (ADDRESS, INCLUDING ZIP CODE)

DELIVER TO:
           ---------------------------------------------------------------------
                                (NAME OF HOLDER)

--------------------------------------------------------------------------------
                          (ADDRESS, INCLUDING ZIP CODE)

Dated:              , 20                       [NAME OF HOLDER]
       -------------    ---
                                               By
                                                 -------------------------------
                                                 Name:
                                                 Title:

                                       2
<PAGE>   26

                                                                    EXHIBIT B to
                                                   Common Stock Purchase Warrant

                               FORM OF ASSIGNMENT

                  FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and
transfers unto the Assignee named below all of the rights of the undersigned to
purchase Common Stock, par value $_____ per share ("Common Stock") of OUTSOURCE
INTERNATIONAL, INC. represented by the Warrant, with respect to the number of
shares of Common Stock set forth below:

<TABLE>
<CAPTION>
Name of Assignee                  Address                        No. of Shares
----------------                  -------                        -------------
<S>                               <C>                            <C>

</TABLE>

and does hereby irrevocably constitute and appoint ________ Attorney to make
such transfer on the books of maintained for that purpose, with full power of
substitution in the premises.

Dated:                , 20                      [NAME OF HOLDER]
       ---------------    ---

                                                By
                                                  ------------------------------
                                                  Name:
                                                  Title:

                                       3<PAGE>   1
                                                               EXHIBIT 10.92(G)

                         REGISTRATION RIGHTS AGREEMENT

                                 by and between

                         OUTSOURCE INTERNATIONAL, INC.

                                      and

                        The INITIAL HOLDER Specified on
                           the Signature Pages Hereof

                          Dated as of August 15, 2000

<PAGE>   2

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                         Page
                                                                                                         ----
<S>                                                                                                      <C>
1.   DEFINITIONS...................................................................................        1

2.   REGISTRATION UNDER THE SECURITIES ACT.........................................................        5

      2.1   Demand Registration....................................................................        5
      2.2   Incidental Registration................................................................        8
      2.3   Shelf Registration.....................................................................       10
      2.4   Underwritten Offerings.................................................................       11
      2.5   Expenses...............................................................................       11
      2.6   Postponement...........................................................................       11

3.   HOLDBACK ARRANGEMENTS.........................................................................       12

      3.1   Restrictions on Sale by Holders of Registrable Securities..............................       12
      3.2   Restrictions on Sale by the Company and Others.........................................       13

4.   REGISTRATION PROCEDURES.......................................................................       13

      4.1   Obligations of the Company.............................................................       13
      4.2   Seller Information.....................................................................       17
      4.3   Notice to Discontinue..................................................................       18

5.   INDEMNIFICATION; CONTRIBUTION.................................................................       18

      5.1   Indemnification by the Company.........................................................       18
      5.2   Indemnification by Holders.............................................................       19
      5.3   Conduct of Indemnification Proceedings.................................................       19
      5.4   Contribution...........................................................................       20
      5.5   Indemnification Payments...............................................................       20

6.   GENERAL.......................................................................................       20

      6.1   Adjustments Affecting Registrable Securities...........................................       20
      6.2   Registration Rights to Others..........................................................       21
      6.3   Availability of Information; Rule 144; Other Exemptions................................       21
      6.4   Amendments and Waivers.................................................................       22
      6.5   Notices................................................................................       22
      6.6   Successors and Assigns.................................................................       23
      6.7   Counterparts...........................................................................       24
      6.8   Descriptive Headings, Etc..............................................................       24
      6.9   Severability...........................................................................       24
      6.10   Choice of Law and Venue; Jury Trial Waiver............................................       24
      6.11   Remedies; Specific Performance........................................................       25
      6.12   Entire Agreement......................................................................       25
      6.13   Further Assurances....................................................................       25
      6.14   Construction..........................................................................       26
      6.15   No Inconsistent Agreement.............................................................       26
      6.16   Costs and Attorneys' Fees.............................................................       26
</TABLE>

                                     -ii-

<PAGE>   3

         REGISTRATION RIGHTS AGREEMENT (the "Agreement") dated as of August 15,
2000, by and among Outsource International, Inc. a Delaware corporation (the
"Company"), and the Initial Holder specified on the signature pages to this
Agreement.

                             W I T N E S S E T H :

         WHEREAS, in connection with the Financing Agreement dated as of the
date hereof, as such agreement is amended or otherwise modified from time to
time, by and among the Company, Outsource International of America, Inc.,
Outsource Franchising, Inc., Guardian Employer East, LLC, Guardian Employer
West, LLC, the guarantors party thereto, Ableco Finance LLC and the CIT
Group/Business Credit, Inc. (the "Financing Agreement"), the Company has
agreed, upon the terms and subject to the conditions of the Financing
Agreement, to issue a warrant (the "Warrant") to the Initial Holder dated as of
the date hereof exercisable for up to 200,000 shares of the Company's Common
Stock, par value $0.001 (the "Common Shares") pursuant to the terms of the
Financing Agreement (the shares of Common Stock issued or issuable upon
exercise of the Warrant are hereinafter referred to as the "Warrant Shares");
and

         WHEREAS, to induce Ableco Finance LLC, an affiliate of the Initial
Holder, to enter into the Financing Agreement and to make the loans thereunder,
the Company has agreed to provide certain registration rights under the
Securities Act of 1933, as amended, and the rules and regulations thereunder,
or any similar successor statute (collectively, the "Securities Act"), and
applicable state securities laws;

         NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein and in order to induce Ableco Finance LLC to enter
into the Financing Agreement and to make the loans thereunder, the Company and
the Initial Holder hereby agree as follows:

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

         "Affiliate" shall mean (i) with respect to any Person, any other
Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such Person, and (ii) with respect to any
individual, shall also mean the spouse, sibling, child, step-child, grandchild,
niece, nephew or parent of such Person, or the spouse thereof.

         "Common Shares" shall have the meaning set forth in the preamble.

         "Company" shall have the meaning set forth in the preamble.

         "Demand Registration" shall mean a registration required to be
effected by the Company pursuant to Section 2.1.

         "Demand Registration Statement" shall mean a registration statement of
the Company which covers the Registrable Securities requested to be included
therein pursuant to the provisions of Section 2.1 and all amendments and
supplements to such registration statement,

<PAGE>   4

including post-effective amendments, in each case including the Prospectus
contained therein, all exhibits thereto and all material incorporated by
reference (or deemed to be incorporated by reference) therein.

         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended from time to time, and the rules and regulations thereunder, or any
successor statute.

         "Financing Agreement" shall have the meaning set forth in the
preamble.

         "Holders" shall mean the Initial Holder for so long as it is the
registered owner of any Registrable Securities and such of its respective
heirs, successors and permitted assigns (including any permitted transferees of
Registrable Securities) who acquire or are otherwise the transferee of
Registrable Securities, directly or indirectly, from such Initial Holder (or
any subsequent Holder), for so long as such heirs, successors and permitted
assigns are the registered owner of any Registrable Securities provided, that
any transfer or assignment to any third party shall require that the Initial
Holder (or any subsequent Holder) surrender the Warrant to the Company so that
it may be reissued to such transferee or assignee pursuant to the terms of
Section 13.2 of the Warrant. For purposes of this Agreement, a Person will be
deemed to be a Holder whenever such Person holds an option to purchase, or a
security convertible into or exercisable or exchangeable for, Registrable
Securities, whether or not such purchase, conversion, exercise or exchange has
actually been effected and disregarding any legal restrictions upon the
exercise of such rights. Registrable Securities issuable upon exercise of an
option or upon conversion, exchange or exercise of another security shall be
deemed outstanding for the purposes of this Agreement.

         "Holders' Counsel" shall mean one firm of counsel (per registration)
to the Holders of Registrable Securities participating in such registration,
which counsel shall be selected (i) in the case of a Demand Registration, by
the Initiating Holders holding a majority of the Registrable Securities for
which registration was requested in the Request, and (ii) in all other cases,
by the Majority Holders of the Registration.

         "Incidental Registration" shall mean a registration required to be
effected by the Company pursuant to Section 2.2.

         "Incidental Registration Statement" shall mean a registration
statement of the Company, which covers the Registrable Securities requested to
be included therein pursuant to the provisions of Section 2.2 and all
amendments and supplements to such registration statement, including
post-effective amendments, in each case including the Prospectus contained
therein, all exhibits thereto and all material incorporated by reference (or
deemed to be incorporated by reference) therein.

         "Initial Holder" shall mean the Person specified as such on the
signature pages to this Agreement on the date hereof.

         "Initiating Holders" shall mean, with respect to a particular
registration, the Holders who initiated the Request for such registration.

                                      -2-
<PAGE>   5

         "Majority Holders" shall mean one or more Holders of Registrable
Securities who would hold a majority of the Registrable Securities then
outstanding.

         "Majority Holders of the Registration" shall mean, with respect to a
particular registration, one or more Holders of Registrable Securities who
would hold a majority of the Registrable Securities to be included in such
registration.

         "NASD" shall mean the National Association of Securities Dealers, Inc.

         "Person" shall mean any individual, firm, partnership, corporation,
trust, joint venture, association, joint stock company, limited liability
company, unincorporated organization or any other entity or organization,
including a government or agency or political subdivision thereof, and shall
include any successor (by merger or otherwise) of such entity.

         "Prospectus" shall mean the prospectus included in a Registration
Statement (including, without limitation, any preliminary prospectus and any
prospectus that includes any information previously omitted from a prospectus
filed as part of an effective registration statement in reliance upon Rule 430A
promulgated under the Securities Act) and any such Prospectus as amended or
supplemented by any prospectus supplement, and all other amendments and
supplements to such Prospectus, including post-effective amendments, and in
each case including all material incorporated by reference (or deemed to be
incorporated by reference) therein.

         "Registrable Securities" shall mean (i) any Warrant Shares issued upon
exercise of the Warrant, and (ii) any other securities of the Company (or any
successor or assign of the Company, whether by merger, consolidation, sale of
assets or otherwise) which may be issued with respect to, in exchange for, or
in substitution of, Registrable Securities referenced in clause (i) above by
reason of any dividend or stock split, combination of shares, merger,
consolidation, recapitalization, reclassification, reorganization, sale of
assets or similar transaction. As to any particular Registrable Securities,
such securities shall cease to be Registrable Securities when (A) a
registration statement with respect to the sale of such securities shall have
been declared effective under the Securities Act and either (i) the
registration statement with respect thereto has remained continuously effective
for one year from the time the Warrant Shares are issued pursuant to the
Warrant (provided, that this clause (A)(i) shall not apply to a registration
statement that is a shelf registration) or (ii) such securities shall have been
disposed of in accordance with such registration statement, (B) such securities
are sold pursuant to Rule 144 (or any similar provisions then in force) under
the Securities Act, (C) such securities have been otherwise transferred, a new
certificate or other evidence of ownership for them not bearing the legend
restricting further transfer shall have been delivered by the Company and
subsequent public distribution of them shall not require registration under the
Securities Act, or (D) such securities shall have ceased to be outstanding.

         "Registration Expenses" shall mean any and all reasonable out of
pocket expenses incident to performance of or compliance with this Agreement by
the Company and its subsidiaries, including, without limitation (i) all SEC,
stock exchange, NASD and other registration, listing and filing fees, (ii) all
fees and expenses incurred in connection with

                                      -3-
<PAGE>   6

compliance with state securities or blue sky laws and compliance with the rules
of any stock exchange (including fees and disbursements of counsel in
connection with such compliance and the preparation of a blue sky memorandum
and legal investment survey), (iii) all printers' fees and costs incurred in
printing, distributing, mailing and delivering any Registration Statement, any
Prospectus and any other document relating to the performance of or compliance
with this Agreement, (iv) the fees and disbursements of counsel for the
Company, (v) the reasonable fees and disbursements of Holders' Counsel, (vi)
the fees and disbursements of all independent public accountants (including the
expenses of any audit and/or "cold comfort" letters) and the fees and expenses
of other Persons, including experts, retained by the Company, (vii) the
expenses incurred in connection with making road show presentations and holding
meetings with potential investors to facilitate the distribution and sale of
Registrable Securities, (viii) any fees and disbursements of underwriters
customarily paid by issuers or sellers of securities, (ix) premiums and other
costs of policies of insurance against liabilities arising out of the public
offering of the Registrable Securities being registered, and (x) all internal
expenses of the Company (including all salaries and expenses of officers and
employees performing legal or accounting duties); provided, however,
Registration Expenses shall not include discounts and commissions payable to
underwriters, selling brokers, dealer managers or other similar Persons engaged
in the distribution of any of the Registrable Securities; and provided further,
that in any case where Registration Expenses are not to be borne by the
Company, such expenses shall not include salaries of Company personnel or
general overhead expenses of the Company, auditing fees, premiums or other
expenses relating to liability insurance required by underwriters of the
Company or other expenses for the preparation of financial statements or other
data normally prepared by the Company in the ordinary course of its business or
which the Company would have incurred in any event; provided, further, that in
the event the Company shall not register any securities with respect to which
it had given written notice of its intention to register to Holders,
notwithstanding anything to the contrary in the foregoing, all of the costs
incurred by the Holders in connection with such registration shall be deemed to
be Registration Expenses.

         "Registration Statement" shall mean any registration statement of the
Company which covers any Registrable Securities and all amendments and
supplements to any such Registration Statement, including post-effective
amendments, in each case including the Prospectus contained therein, all
exhibits thereto and all material incorporated by reference (or deemed to be
incorporated by reference) therein.

         "Request" shall have the meaning set forth in Section 2.1(a).

         "Rule 144" means Rule 144 issued by the SEC under the Securities Act,
or any subsequent rule pertaining to the disposition of securities without
registration.

         "Rule 144A" means Rule 144A issued by the SEC under the Securities
Act, or any subsequesnt rule pertaining to private resales of securities to
institutions.

         "SEC" shall mean the Securities and Exchange Commission, or any
successor agency having jurisdiction to enforce the Securities Act.

         "Securities Act" shall have the meaning set forth in the preamble.

                                      -4-
<PAGE>   7

         "Shelf Registration" shall have the meaning set forth in Section
2.1(a).

         "Underwriters" shall mean the underwriters, if any, of the offering
being registered under the Securities Act.

         "Underwritten Offering" shall mean a sale of securities of the Company
to an Underwriter or Underwriters for reoffering to the public.

         "Warrant" shall have the meaning set forth in the preamble.

         "Warrant Shares" shall have the meaning set forth in the preamble.

         "Withdrawn Demand Registration" shall have the meaning set forth in
Section 2.1(a).

         "Withdrawn Request" shall have the meaning set forth in Section
2.1(a).

     Capitalized terms used herein and not otherwise defined herein shall
have the respective meanings set forth in the Financing Agreement.

         2.       REGISTRATION UNDER THE SECURITIES ACT.

         2.1      Demand Registration.

         (a)      Right to Demand Registration. Subject to Section 2.1(c), at
any time or from time to time the Majority Holders shall have the right to
request in writing that the Company register all or part of such Holders'
Registrable Securities (a "Request") (which Request shall specify the amount of
Registrable Securities intended to be disposed of by such Holders and the
intended method of disposition thereof) by filing with the SEC a Demand
Registration Statement. As promptly as practicable, but no later than 10 days
after receipt of a Request, the Company shall give written notice of such
requested registration to all other Holders of Registrable Securities. Subject
to Section 2.1(b), the Company shall include in a Demand Registration (i) the
Registrable Securities intended to be disposed of by the Initiating Holders and
(ii) the Registrable Securities intended to be disposed of by any other Holder
which shall have made a written request (which request shall specify the amount
of Registrable Securities to be registered and the intended method of
disposition thereof) to the Company for inclusion thereof in such registration
within 30 days after the receipt of such written notice from the Company. The
Company shall, as expeditiously as possible, following a Request, use its best
efforts to cause to be filed with the SEC a Demand Registration Statement
providing for the registration under the Securities Act of the Registrable
Securities which the Company has been so requested to register by all such
Holders, to the extent necessary to permit the disposition of such Registrable
Securities to be registered in accordance with the intended methods of
disposition thereof specified in such Request or further requests (including,
without limitation, by means of a shelf registration pursuant to Rule 415 under
the Securities Act (a "Shelf Registration") if so requested and if the Company
is then eligible to use such a registration. The Company shall use its best
efforts to have such Demand Registration Statement declared

                                      -5-
<PAGE>   8

effective by the SEC as soon as practicable thereafter and to keep such Demand
Registration Statement continuously effective for the period specified in
Section 4.1(b).

         A Request may be withdrawn prior to the filing of the Demand
Registration Statement by the Majority Holders of the Registration (a
"Withdrawn Request") and a Demand Registration Statement may be withdrawn prior
to the effectiveness thereof by the Majority Holders of the Registration (a
"Withdrawn Demand Registration"), and such withdrawals shall be treated as a
Demand Registration which shall have been effected pursuant to this Section
2.1, unless the Holders of Registrable Securities to be included in such
Registration Statement reimburse the Company for its reasonable out-of-pocket
Registration Expenses relating to the preparation and filing of such Demand
Registration Statement (to the extent actually incurred), in which case such
withdrawal shall not be treated as a Demand Registration effected pursuant to
this Section 2.1 (and shall not be counted toward the number of Demand
Registrations); provided, however, that if a Withdrawn Request or Withdrawn
Registration Statement is made (A) because of a material adverse change in the
business, financial condition or prospects of the Company, or (B) because the
sole or lead managing Underwriter advises that the amount of Registrable
Securities to be sold in such offering be reduced pursuant to Section 2.1(b) by
more than 25% of the Registrable Securities to be included in such Registration
Statement, or (C) because of a postponement of such registration pursuant to
Section 2.6, then such withdrawal shall not be treated as a Demand Registration
effected pursuant to this Section 2.1 (and shall not be counted toward the
number of Demand Registrations), and the Company shall pay all Registration
Expenses in connection therewith. Any Holder requesting inclusion in a Demand
Registration may, at any time prior to the effective date of the Demand
Registration Statement (and for any reason) revoke such request by delivering
written notice to the Company revoking such requested inclusion.

         The registration rights granted pursuant to the provisions of this
Section 2.1 shall be in addition to the registration rights granted pursuant to
the other provisions of Section 2 hereof.

         (b)      Priority in Demand Registrations. If a Demand Registration
involves an Underwritten Offering, and the sole or lead managing Underwriter,
as the case may be, of such Underwritten Offering shall advise the Company in
writing (with a copy to each Holder requesting registration) on or before the
date five days prior to the date then scheduled for such offering that, in its
opinion, the amount of Registrable Securities requested to be included in such
Demand Registration exceeds the number which can be sold in such offering
within a price range acceptable to the Majority Holders of the Registration
(such writing to state the basis of such opinion and the approximate number of
Registrable Securities which may be included in such offering), and the Request
is not thereafter withdrawn, the Company shall include in such Demand
Registration, to the extent of the number which the Company is so advised may
be included in such offering, the Registrable Securities requested to be
included in the Demand Registration by the Holders allocated pro rata in
proportion to the number of Registrable Securities requested to be included in
such Demand Registration by each of them. In the event the Company shall not,
by virtue of this Section 2.1(b), include in any Demand Registration all of the
Registrable Securities of any Holder requested to be included in such Demand

                                      -6-
<PAGE>   9

Registration, such Holder may, upon written notice to the Company given within
five days of the time such Holder first is notified of such matter, further
reduce the amount of Registrable Securities it desires to have included in such
Demand Registration, whereupon only the Registrable Securities, if any, that it
desires to have included will be so included and the Holders not so reducing
shall be entitled to a corresponding pro rata increase in the amount of
Registrable Securities to be included in such Demand Registration.

         (c)      Limitations on Registrations. The rights of Holders of
Registrable Securities to request Demand Registrations pursuant to Section
2.1(a) are subject to the following limitations: (i) in no event shall the
Company be required to effect a Demand Registration until after the Exercise
Date (as defined in the Warrant); and (ii) in no event shall the Company be
required to effect more than one Demand Registration by the Holders, provided,
however, that such number shall be increased to the extent the Company (x) does
not include in what would otherwise be such registration, for which the Company
is required to pay Registration Expenses, the number of Registrable Securities
requested to be registered by the Holders by reason of Section 2.1(b) or (y)
terminates a Shelf Registration pursuant to Section 2.3 prior to the time that
all Registrable Securities covered by such Shelf Registration have been sold.

         (d)      Underwriting; Selection of Underwriters. Notwithstanding
anything to the contrary contained in Section 2.1(a), if the Initiating Holders
holding a majority of the Registrable Securities for which registration was
requested in the Request so elect, the offering of such Registrable Securities
pursuant to such Demand Registration shall be in the form of a firm commitment
Underwritten Offering and such Initiating Holders may require that all Persons
(including other Holders) participating in such registration sell their
Registrable Securities to the Underwriters at the same price and on the same
terms of underwriting applicable to the Initiating Holders. If any Demand
Registration involves an Underwritten Offering, the sole or managing
Underwriters and any additional investment bankers and managers to be used in
connection with such registration shall be selected by the Initiating Holders
holding a majority of the Registrable Securities for which registration was
requested in the Request, subject to the approval of the Company (such approval
not to be unreasonably withheld).

         (e)      Effective Registration Statement; Suspension. A Demand
Registration Statement shall not be deemed to have become effective (and the
related registration will not be deemed to have been effected) (i) unless it
has been declared effective by the SEC and remains effective in compliance with
the provisions of the Securities Act with respect to the disposition of all
Registrable Securities covered by such Demand Registration Statement for the
time period specified in Section 4.1(b), (ii) if the offering of any
Registrable Securities pursuant to such Demand Registration Statement is
interfered with by any stop order, injunction or other order or requirement of
the SEC or any other governmental agency or court, or (iii) if, in the case of
an Underwritten Offering, the conditions to closing specified in an
underwriting agreement to which the Company is a party are not satisfied (other
than by the sole reason of any breach or failure by the Holders of Registrable
Securities) and are not otherwise waived.

                                      -7-
<PAGE>   10

         (f)      Registration of Other Securities. Whenever the Company shall
effect a Demand Registration, no securities other than (i) the Registrable
Securities, and (ii) any securities requested to be registered by any of the
holders of the warrants issued under the Warrant Purchase Agreement, dated as
of the date hereof, among the Company, Fleet National Bank, Comerica Bank,
LaSalle Bank National Association and SunTrust Bank, South Florida, N.A. (the
"Warrant Purchase Agreement") shall be covered by such registration unless the
Majority Holders of the Registration shall have consented in writing to the
inclusion of such other securities; provided, however, that the number of
shares of Registrable Securities to be registered by the Holders shall not be
reduced pursuant to Section 2.1(b) unless all other securities are first
entirely excluded from the underwriting (except for the securities proposed to
be registered by the holders of the warrants issued under the Warrant Purchase
Agreement, which shall have the same priority as the Registrable Securities).

         (g)      Registration Statement Form. Registrations under this Section
2.1 shall be on such appropriate registration form of the SEC (i) as shall be
reasonably selected by the Company, and (ii) which shall be available for the
sale of Registrable Securities in accordance with the intended method or
methods of disposition specified in the requests for registration. With the
approval of the Company (not to be unreasonably withheld), the Company shall
include in any such Registration Statement all information which any selling
Holder, upon advice of counsel, shall reasonably request.

         (h)      Other Registrations. During the period (i) beginning on the
date of a Request and (ii) ending on the date that is 90 days after the date
that a Demand Registration Statement filed pursuant to such Request has been
declared effective by the SEC or, if the Holders shall withdraw such Request or
such Demand Registration Statement, on the date of such Withdrawn Request or
such Withdrawn Registration Statement, the Company shall not, without the
consent of the Majority Holders of the Registration, file a registration
statement pertaining to any other securities of the Company.

         2.2      Incidental Registration.

         (a)      Right to Include Registrable Securities. If the Company at
any time or from time to time proposes to register any of its securities under
the Securities Act (other than in a registration on Form S-4 or S-8 or any
successor form to such forms and other than pursuant to Section 2.1 or 2.3)
whether or not pursuant to registration rights granted to other holders of its
securities and whether or not for sale for its own account, the Company shall
deliver prompt written notice (which notice shall be given at least 30 days
prior to such proposed registration) to all Holders of Registrable Securities
of its intention to undertake such registration, describing in reasonable
detail the proposed registration and distribution (including the anticipated
range of the proposed offering price, the class and number of securities
proposed to be registered and the distribution arrangements) and of such
Holders' right to participate in such registration under this Section 2.2 as
hereinafter provided. Subject to the other provisions of this paragraph (a) and
Section 2.2(b), upon the written request of any Holder made within 30 days
after the receipt of such written notice (which request shall specify the
amount of Registrable Securities to be registered and the intended method of
disposition thereof), the Company shall effect

                                      -8-
<PAGE>   11

the registration under the Securities Act of all Registrable Securities
requested by Holders to be so registered (an "Incidental Registration"), to the
extent requisite to permit the disposition (in accordance with the intended
methods thereof as aforesaid) of the Registrable Securities so to be
registered, by inclusion of such Registrable Securities in the Registration
Statement which covers the securities which the Company proposes to register
and shall cause such Registration Statement to become and remain effective with
respect to such Registrable Securities in accordance with the registration
procedures set forth in Section 4. If an Incidental Registration involves an
Underwritten Offering, immediately upon notification to the Company from the
Underwriter of the price at which such securities are to be sold, the Company
shall so advise each participating Holder. The Holders requesting inclusion in
an Incidental Registration may, at any time prior to the effective date of the
Incidental Registration Statement (and for any reason), revoke such request by
delivering written notice to the Company revoking such requested inclusion.

         If at any time after giving written notice of its intention to
register any securities and prior to the effective date of the Incidental
Registration Statement filed in connection with such registration, the Company
shall determine for any reason not to register or to delay registration of such
securities, the Company may, at its election, give written notice of such
determination to each Holder of Registrable Securities and, thereupon, (A) in
the case of a determination not to register, the Company shall be relieved of
its obligation to register any Registrable Securities in connection with such
registration (but not from its obligation to pay the Registration Expenses
incurred in connection therewith), without prejudice, however, to the rights of
Holders to cause such registration to be effected as a registration under
Section 2.1 and (B) in the case of a determination to delay such registration,
the Company shall be permitted to delay the registration of such Registrable
Securities for the same period as the delay in registering such other
securities; provided, however, that if such delay shall extend beyond 120 days
from the date the Company received a request to include Registrable Securities
in such Incidental Registration, then the Company shall again give all Holders
the opportunity to participate therein and shall follow the notification
procedures set forth in the preceding paragraph. There is no limitation on the
number of such Incidental Registrations pursuant to this Section 2.2 which the
Company is obligated to effect.

         The registration rights granted pursuant to the provisions of this
Section 2.2 shall be in addition to the registration rights granted pursuant to
the other provisions of Section 2 hereof.

         (b)      Priority in Incidental Registration. If an Incidental
Registration involves an Underwritten Offering (on a firm commitment basis),
and the sole or the lead managing Underwriter, as the case may be, of such
Underwritten Offering shall advise the Company in writing (with a copy to each
Holder requesting registration) on or before the date five days prior to the
date then scheduled for such offering that, in its opinion, the amount of
securities (including Registrable Securities) requested to be included in such
registration exceeds the amount which can be sold in such offering without
materially interfering with the successful marketing of the securities being
offered (such writing to state the basis of such opinion and the approximate
number of such securities which may be included in such offering without such
effect), the Company shall include in such registration, to the extent of the
number which the Company is so advised may be included in such offering without
such

                                      -9-
<PAGE>   12

effect, (i) in the case of a registration initiated by the Company, (A) first,
the securities that the Company proposes to register for its own account (but
solely to the extent that the proceeds thereof shall not be used to purchase
shares of common stock of the Company or other securities of the Company), (B)
second, on a pro rata basis, in proportion to the number of securities
requested to be included in such registration by each of the following, (i) the
Registrable Securities requested to be included in such registration by the
Holders and (ii) the securities requested to be included in such registration
by the holders of the warrants granted pursuant to the Warrant Purchase
Agreement, and (C) third, other securities of the Company to be registered on
behalf of any other Person, and (ii) in the case of a registration initiated by
a Person other than the Company, (A) first, the Registrable Securities
requested to be included in such registration by any Persons initiating such
registration requested to be included in such registration by any Persons
initiating such registration, (B) second, the Registrable Securities requested
to be included in such registration by the Holders and any other Persons (not
including Affiliates of the Company), allocated pro rata in proportion to the
number of securities requested to be included in such registration by each of
them, and (C) third, the securities that the Company proposes to register for
the account of it and its Affiliates, provided, however, that in the event the
Company will not, by virtue of this Section 2.2(b), include in any such
registration all of the Registrable Securities of any Holder requested to be
included in such registration, such Holder may, upon written notice to the
Company given within three days of the time such Holder first is notified of
such matter, reduce the amount of Registrable Securities it desires to have
included in such registration, whereupon only the Registrable Securities, if
any, it desires to have included will be so included and the Holders not so
reducing shall be entitled to a corresponding pro rata increase in the amount
of Registrable Securities to be included in such registration.

         2.3      Shelf Registration.

         (a)      Shelf Registration. If a request made pursuant to Section 2.1
is for a Shelf Registration, the Company shall use its best efforts to keep the
Shelf Registration continuously effective through the date on which all of the
Registrable Securities covered by such Shelf Registration may be sold pursuant
to Rule 144(k) under the Securities Act (or any successor provision having
similar effect); provided, however, that prior to the termination of such Shelf
Registration, the Company shall first furnish to each Holder of Registrable
Securities participating in such Shelf Registration (i) an opinion, in form and
substance satisfactory to the Majority Holders of the Registration, of counsel
for the Company satisfactory to the Majority Holders of the Registration
stating that such Registrable Securities are freely saleable pursuant to Rule
144(k) under the Securities Act (or any successor provision having similar
effect) or (ii) a "No-Action Letter" from the staff of the SEC stating that the
SEC would not recommend enforcement action if the Registrable Securities
included in such Shelf Registration were sold in a public sale other than
pursuant to an effective registration statement.

                                     -10-
<PAGE>   13

         2.4      Underwritten Offerings.

         (a)      Demand Underwritten Offerings. If requested by the sole or
lead managing Underwriter for any Underwritten Offering effected pursuant to a
Demand Registration, the Company shall enter into a customary underwriting
agreement with the Underwriters for such offering, such agreement to be
reasonably satisfactory in substance and form to the Company and each Holder of
Registrable Securities participating in such offering and to contain such
representations and warranties by the Company and such other terms as are
generally prevailing in agreements of that type, including, without limitation,
indemnification and contribution to the effect and to the extent provided in
Section 5.

         (b)      Holders of Registrable Securities to be Parties to
Underwriting Agreement. The Holders of Registrable Securities to be distributed
by Underwriters in an Underwritten Offering contemplated by Section 2 shall be
parties to the underwriting agreement between the Company and such Underwriters
and may, at such Holders' option, require that any or all of the
representations and warranties by, and the other agreements on the part of, the
Company to and for the benefit of such Underwriters shall also be made to and
for the benefit of such Holders of Registrable Securities and that any or all
of the conditions precedent to the obligations of such Underwriters under such
underwriting agreement be conditions precedent to the obligations of such
Holders of Registrable Securities; provided, however, that the Company shall
not be required to make any representations or warranties with respect to
written information specifically provided by a selling Holder for inclusion in
the Registration Statement. No Holder shall be required to make any
representations or warranties to, or agreements with, the Company or (in the
case of an Incidental Registration) the Underwriters other than
representations, warranties or agreements regarding such Holder, such Holder's
Registrable Securities and such Holder's intended method of disposition.

         (c)      Participation in Underwritten Registration. Notwithstanding
anything herein to the contrary, no Person may participate in any underwritten
registration hereunder unless such Person (i) agrees to sell its securities on
the same terms and conditions provided in any underwritten arrangements
approved by the Persons entitled hereunder to approve such arrangement and (ii)
accurately completes and executes in a timely manner all questionnaires, powers
of attorney, indemnities, custody agreements, underwriting agreements and other
documents reasonably required under the terms of such underwriting
arrangements.

         2.5      Expenses. The Company shall pay all Registration Expenses in
connection with any Demand Registration, Incidental Registration or Shelf
Registration whether or not such registration shall become effective and
whether or not all Registrable Securities originally requested to be included
in such registration are withdrawn or otherwise ultimately not included in such
registration, except as otherwise provided with respect to a Withdrawn Request
and a Withdrawn Demand Registration in Section 2.1(a).

         2.6      Postponement. The Company shall be entitled to postpone a
Demand Registration and to require the Holders of Registrable Securities to
discontinue the disposition of their securities covered by a Shelf Registration
during any Blackout Period (as defined below) (i)

                                     -11-
<PAGE>   14

if the Board of Directors of the Company determines in good faith that
effecting such a registration or continuing such disposition at such time would
have a material adverse effect upon a proposed sale of all (or substantially
all) of the assets of the Company or a merger, reorganization, recapitalization
or similar current transaction materially affecting the capital structure or
equity ownership of the Company, or (ii) if the Company is in possession of
material information which the Board of Directors of the Company determines in
good faith that it is not in the best interest of the Company to disclose in a
registration statement at such time; provided however, that the Company may
only delay a Demand Registration pursuant to this Section 2.6 by delivery of a
Blackout Notice (as defined below) within 30 days of delivery of the request
for such Registration under Section 2.1 or Section 2.3 as applicable, and may
delay a Demand Registration and require the holders of Registrable Securities
to discontinue the disposition of their securities covered by a Shelf
Registration only for a reasonable period of time not to exceed 90 days (or
such earlier time as such transaction is consummated or no longer proposed or
the material information has been made public) (the "Blackout Period"). All
delays or postponements, taken as a whole, with respect to a Demand
Registrations or Shelf Registrations, may not exceed 90 days in the aggregate.
The Company shall promptly notify the Holders in writing (a "Blackout Notice")
of any decision to postpone a Demand Registration or to discontinue sales of
Registrable Securities covered by a Shelf Registration pursuant to this Section
2.6 and shall include a general statement of the reason for such postponement,
an approximation of the anticipated delay and an undertaking by the Company
promptly to notify the Holders as soon as a Demand Registration may be effected
or sales of Registrable Securities covered by a Shelf Registration may resume.
Each Holder shall treat all notices received from the Company pursuant to this
Section 2.6 in the strictest confidence and shall not disseminate such
information. If the Company shall postpone the filing of a Demand Registration
Statement the Majority Holders of Registrable Securities who were to
participate therein shall have the right to withdraw the request for
registration. Any such withdrawal shall be made by giving written notice to the
Company within 30 days after receipt of the Blackout Notice. Such withdrawn
registration request shall not be treated as a Demand Registration effected
pursuant to Section 2.1 (and shall not be counted towards the number of Demand
Registrations effected), and the Company shall pay all Registration Expenses in
connection therewith.

         3.       HOLDBACK ARRANGEMENTS

         3.1      Restrictions on Sale by Holders of Registrable Securities.
Each Holder of Registrable Securities agrees, by acquisition of such
Registrable Securities, if timely requested in writing by the sole or lead
managing Underwriter, not to make any short sale of, loan, grant any option for
the purchase of or effect any public sale or distribution, including a sale
pursuant to Rule 144 (or any successor provision having similar effect) under
the Securities Act of any Registrable Securities (except as part of such
registration), during the seven days prior to, and during the time period
reasonably requested by the sole or lead managing Underwriter, not to exceed
180 days, beginning on the effective date of the applicable registration
statement, unless the sole or lead Managing Underwriter in such Underwritten
Offering otherwise agrees.

         3.2      Restrictions on Sale by the Company and Others. The Company
agrees that if timely requested in writing by the sole or lead managing
Underwriter in an Underwritten

                                     -12-
<PAGE>   15

Offering of any Registrable Securities, not to make any short sale of, loan,
grant any option for the purchase of or effect any public sale or distribution
of any of the Company's equity securities (or any security convertible into or
exchangeable or exercisable for any of the Company's equity securities) during
the seven days prior to, and during the time period reasonably requested by the
sole or lead managing Underwriter not to exceed 180 days, beginning on the
effective date of the applicable registration statement (except as part of such
underwritten registration or pursuant to registrations on Forms S-4 or S-8 or
any successor form to such forms), unless the sole or lead Managing Underwriter
in such Underwritten Offering otherwise Agrees. The Company will use its best
efforts to cause each director or officer of the Company and each holder of 3%
or more of the equity securities (or any security convertible into or
exchangeable or exercisable for any of its equity securities) of the Company
purchased from the Company at any time after the date of this Agreement (other
than in a registered public offering or in a public sale) to so agree.

         4.       REGISTRATION PROCEDURES.

         4.1      Obligations of the Company. Whenever the Company is required
to effect the registration of Registrable Securities under the Securities Act
pursuant to Section 2 of this Agreement, the Company shall, as expeditiously as
possible:

         (a)      prepare and file with the SEC (promptly, and in any event
within 60 days after receipt of a request to register Registrable Securities)
the requisite Registration Statement to effect such registration, which
Registration Statement shall comply as to form in all material respects with
the requirements of the applicable form and include all financial statements
required by the SEC to be filed therewith, and the Company shall use its best
efforts to cause such Registration Statement to become effective (promptly, and
in any event within 150 days after receipt of a request to register Registrable
Securities) (provided, that the Company may discontinue any registration of its
securities that are not Registrable Securities, and, under the circumstances
specified in Section 2.2, its securities that are Registrable Securities);
provided, however, that before filing a Registration Statement or Prospectus or
any amendments or supplements thereto, or comparable statements under
securities or blue sky laws of any jurisdiction, the Company shall (i) provide
Holders' Counsel and any other Inspector with an adequate and appropriate
opportunity to participate in the preparation of such Registration Statement
and each Prospectus included therein (and each amendment or supplement thereto
or comparable statement) to be filed with the SEC, which documents shall be
subject to the review and comment of Holders' Counsel, and (ii) not file any
such Registration Statement or Prospectus (or amendment or supplement thereto
or comparable statement) with the SEC to which Holder's Counsel, any selling
Holder or any other Inspector shall have reasonably objected on the grounds
that such filing does not comply in all material respects with the requirements
of the Securities Act or of the rules or regulations thereunder;

         (b)      prepare and file with the SEC such amendments and supplements
to such Registration Statement and the Prospectus used in connection therewith
as may be necessary (i) to keep such Registration Statement effective, and (ii)
to comply with the provisions of the Securities Act with respect to the
disposition of all Registrable Securities covered by such Registration
Statement, in each case until such time as all of such Registrable Securities
have

                                     -13-
<PAGE>   16

been disposed of in accordance with the intended methods of disposition by the
seller(s) thereof set forth in such Registration Statement.

         (c)      furnish, without charge, to each selling Holder of such
Registrable Securities and each Underwriter, if any, of the securities covered
by such Registration Statement, such number of copies of such Registration
Statement, each amendment and supplement thereto (in each case including all
exhibits), and the Prospectus included in such Registration Statement
(including each preliminary Prospectus) in conformity with the requirements of
the Securities Act, and other documents, as such selling Holder and Underwriter
may reasonably request in order to facilitate the public sale or other
disposition of the Registrable Securities owned by such selling Holder (the
Company hereby consenting to the use in accordance with applicable law of each
such Registration Statement (or amendment or post-effective amendment thereto)
and each such Prospectus (or preliminary prospectus or supplement thereto) by
each such selling Holder of Registrable Securities and the Underwriters, if
any, in connection with the offering and sale of the Registrable Securities
covered by such Registration Statement or Prospectus);

         (d)      prior to any public offering of Registrable Securities, use
its best efforts to register or qualify all Registrable Securities and other
securities covered by such Registration Statement under such other securities
or blue sky laws of such jurisdictions as any selling Holder of Registrable
Securities covered by such Registration Statement or the sole or lead managing
Underwriter, if any, may reasonably request to enable such selling Holder to
consummate the disposition in such jurisdictions of the Registrable Securities
owned by such selling Holder and to continue such registration or qualification
in effect in each such jurisdiction for as long as such Registration Statement
remains in effect (including through new filings or amendments or renewals),
and do any and all other acts and things which may be necessary or advisable to
enable any such selling Holder to consummate the disposition in such
jurisdictions of the Registrable Securities owned by such selling Holder.

         (e)      use its best efforts to obtain all other approvals, consents,
exemptions or authorizations from such governmental agencies or authorities as
may be necessary to enable the selling Holders of such Registrable Securities
to consummate the disposition of such Registrable Securities;

         (f)      notify Holders' Counsel, each Holder of Registrable
Securities covered by such Registration Statement and the sole or lead managing
Underwriter, if any: (i) when the Registration Statement, any pre-effective
amendment, the Prospectus or any prospectus supplement related thereto or
post-effective amendment to the Registration Statement has been filed and, with
respect to the Registration Statement or any post-effective amendment, when the
same has become effective, (ii) of any request by the SEC or any state
securities or blue sky authority for amendments or supplements to the
Registration Statement or the Prospectus related thereto or for additional
information, (iii) of the issuance by the SEC of any stop order suspending the
effectiveness of the Registration Statement or the initiation or threat of any
proceedings for that purpose, (iv) of the receipt by the Company of any
notification with respect to the suspension of the qualification of any
Registrable Securities for sale under the securities or blue sky laws of any
jurisdiction or the initiation of any proceeding for such purpose, (v) of the

                                     -14-
<PAGE>   17

existence of any fact of which the Company becomes aware or the happening of
any event which results in (A) the Registration Statement containing an untrue
statement of a material fact or omitting to state a material fact required to
be stated therein or necessary to make any statements therein not misleading,
or (B) the Prospectus included in such Registration Statement containing an
untrue statement of a material fact or omitting to state a material fact
required to be stated therein or necessary to make any statements therein, in
the light of the circumstances under which they were made, not misleading, (vi)
if at any time the representations and warranties contained in any underwriting
agreement in respect of such offering cease to be true and correct in all
material respects, and (vii) of the Company's reasonable determination that a
post-effective amendment to a Registration Statement would be appropriate or
that there exists circumstances not yet disclosed to the public which make
further sales under such Registration Statement inadvisable pending such
disclosure and post-effective amendment; and, if the notification relates to an
event described in any of the clauses (ii) through (vii) of this Section
4.1(f), the Company shall promptly prepare a supplement or post-effective
amendment to such Registration Statement or related Prospectus or any document
incorporated therein by reference or file any other required document so that
(1) such Registration Statement shall not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading, and (2) as thereafter
delivered to the purchasers of the Registrable Securities being sold
thereunder, such Prospectus shall not include an untrue statement of a material
fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein in the light of the circumstances
under which they were made not misleading (and shall furnish to each such
Holder and each Underwriter, if any, a reasonable number of copies of such
Prospectus so supplemented or amended); and if the notification relates to an
event described in clause (iii) of this Section 4.1(f), the Company shall take
all reasonable action required to prevent the entry of such stop order or to
remove it if entered;

         (g)      make available for inspection by any selling Holder of
Registrable Securities, any sole or lead managing Underwriter participating in
any disposition pursuant to such Registration Statement, Holders' Counsel and
any attorney, accountant or other agent retained by any such seller or any
Underwriter (each, an "Inspector" and, collectively, the "Inspectors"), all
financial and other records, pertinent corporate documents and properties of
the Company and any subsidiaries thereof as may be in existence at such time
(collectively, the "Records") as shall be necessary, in the opinion of such
Holders' and such Underwriters' respective counsel, to enable them to exercise
their due diligence responsibility and to conduct a reasonable investigation
within the meaning of the Securities Act, and cause the Company's and any
subsidiaries' officers, directors and employees, and the independent public
accountants of the Company, to supply all information reasonably requested by
any such Inspectors in connection with such Registration Statement;

         (h)      obtain an opinion from the Company's counsel and a "cold
comfort" letter from the Company's independent public accountants who have
certified the Company's financial statements included or incorporated by
reference in such Registration Statement, in each case dated the effective date
of such Registration Statement (and if such registration involves an
Underwritten Offering, dated the date of the closing under the underwriting
agreement), in

                                     -15-
<PAGE>   18

customary form and covering such matters as are customarily covered by such
opinions and "cold comfort" letters delivered to underwriters in underwritten
public offerings, which opinion and letter shall be reasonably satisfactory to
the sole or lead managing Underwriter, if any, and to the Majority Holders of
the Registration, and furnish to each Holder participating in the offering and
to each Underwriter, if any, a copy of such opinion and letter addressed to
such Holder (in the case of the opinion) and Underwriter (in the case of the
opinion and the "cold comfort" letter);

         (i)      provide a CUSIP number for all Registrable Securities and
provide and cause to be maintained a transfer agent and registrar for all such
Registrable Securities covered by such Registration Statement not later than
the effectiveness of such Registration Statement;

         (j)      otherwise use its best efforts to comply with all applicable
rules and regulations of the SEC and any other governmental agency or authority
having jurisdiction over the offering, and make available to its security
holders, as soon as reasonably practicable but no later than 90 days after the
end of any 12-month period, an earnings statement (i) commencing at the end of
any month in which Registrable Securities are sold to Underwriters in an
Underwritten Offering and (ii) commencing with the first day of the Company's
calendar month next succeeding each sale of Registrable Securities after the
effective date of a Registration Statement, which statement shall cover such
12-month periods, in a manner which satisfies the provisions of Section 11(a)
of the Securities Act and Rule 158 thereunder;

         (k)      if so requested by the Majority Holders of the Registration,
use its best efforts to cause all such Registrable Securities to be duly
included for quotation on the Nasdaq Stock Market's National Market (the
"Nasdaq National Market"), the Nasdaq Stock Market's SmallCap Market (the
"Nasdaq SmallCap Market") or listed on the principal national securities
exchange on which the Company's similar securities are then listed, if
applicable;

         (l)      enter into and perform customary agreements (including, if
applicable, an underwriting agreement in customary form) and provide officers'
certificates and other customary closing documents;

         (m)      cooperate with each selling Holder of Registrable Securities
and each Underwriter participating in the disposition of such Registrable
Securities and their respective counsel in connection with any filings required
to be made with the NASD and make reasonably available its employees and
personnel and otherwise provide reasonable assistance to the Underwriters
(taking into account the needs of the Company's businesses and the requirements
of the marketing process) in the marketing of Registrable Securities in any
Underwritten Offering;

         (n)      cooperate with the selling Holders of Registrable Securities
and the sole or lead managing Underwriter, if any, to facilitate the timely
preparation and delivery of certificates not bearing any restrictive legends
representing the Registrable Securities to be sold, and cause such Registrable
Securities to be issued in such denominations and registered in such names in
accordance with the underwriting agreement prior to any sale of Registrable
Securities to the Underwriters or, if not an Underwritten Offering, in
accordance with the instructions of the

                                     -16-
<PAGE>   19

selling Holders of Registrable Securities at least three business days prior to
any sale of Registrable Securities;

         (o)      keep each selling Holder of Registrable Securities advised in
writing as to the initiation and progress of any registration under Section 2
hereunder;

         (p)      furnish to each Holder participating in the offering and the
sole or lead managing Underwriter, if any, without charge, at least one copy of
the Registration Statement and any post-effective amendments thereto, including
financial statements and schedules, all documents incorporated therein by
reference and all exhibits (including those deemed to be incorporated by
reference); and

         (q)      if requested by the sole or lead managing Underwriter or any
selling Holder of Registrable Securities, promptly incorporate in a prospectus
supplement or post-effective amendment such information concerning such Holder
of Registrable Securities, the Underwriters or the intended method of
distribution as the sole or lead managing Underwriter or the selling Holder of
Registrable Securities reasonably requests to be included therein and as is
appropriate in the reasonable judgment of the Company, including, without
limitation, information with respect to the number of shares of the Registrable
Securities being sold to the Underwriters, the purchase price being paid
therefor by such Underwriters and with respect to any other terms of the
Underwritten Offering of the Registrable Securities to be sold in such
offering; make all required filings of such Prospectus supplement or
post-effective amendment as soon as notified of the matters to be incorporated
in such Prospectus supplement or post-effective amendment; and supplement or
make amendments to any Registration Statement if requested by the sole or lead
managing Underwriter of such Registrable Securities.

         4.2      Seller Information. The Company may require each selling
Holder of Registrable Securities as to which any registration is being effected
to furnish to the Company such information regarding such seller and the
disposition of such securities as the Company may from time to time reasonably
request in writing; provided, however, that such information shall be used only
in connection with such Registration. If any Registration Statement or
comparable statement under "blue sky" laws refers to any Holder by name or
otherwise as the Holder of any securities of the Company, then such Holder
shall have the right to require (i) the insertion therein of language, in form
and substance satisfactory to such Holder and the Company, to the effect that
the holding by such Holder of such securities is not to be construed as a
recommendation by such Holder of the investment quality of the Company's
securities covered thereby and that such holding does not imply that such
Holder will assist in meeting any future financial requirements of the Company,
and (ii) in the event that such reference to such Holder by name or otherwise
is not in the judgment of the Company, as advised by counsel, required by the
Securities Act or any similar federal statute or any state "blue sky" or
securities law then in force, the deletion of the reference to such Holder.

         4.3      Notice to Discontinue. Each Holder of Registrable Securities
agrees by acquisition of such Registrable Securities that, (i) upon receipt of
any notice from the Company of the happening of any event of the kind described
in Section 4.1(f)(ii) through 4.1(f)(v), such

                                     -17-
<PAGE>   20

Holder shall forthwith discontinue disposition of Registrable Securities
pursuant to the Registration Statement covering such Registrable Securities
until such Holder's receipt of the copies of the supplemented or amended
prospectus contemplated by Section 4.1(f) and, if so directed by the Company,
such Holder shall deliver to the Company (at the Company's expense) all copies,
other than permanent file copies, then in such Holder's possession of the
Prospectus covering such Registrable Securities which is current at the time of
receipt of such notice. If the Company shall give any such notice, the Company
shall extend the period during which such Registration Statement shall be
maintained effective pursuant to this Agreement (including, without limitation,
the period referred to in Section 4.1(b)) by the number of days during the
period from and including the date of the giving of such notice pursuant to
Section 4.1(f) to and including the date when the Holder shall have received
the copies of the supplemented or amended prospectus contemplated by and
meeting the requirements of Section 4.1(f).

         5.       INDEMNIFICATION; CONTRIBUTION.

         5.1      Indemnification by the Company. The Company agrees to
indemnify and hold harmless, to the fullest extent permitted by law, each
Holder of Registrable Securities, its officers, directors, partners, members,
shareholders, employees, Affiliates, advisers, attorneys and agents
(collectively, "Agents") and each Person who controls such Holder (within the
meaning of the Securities Act) and its Agents with respect to each registration
which has been effected pursuant to this Agreement, against any and all losses,
claims, damages or liabilities, joint or several, actions or proceedings
(whether commenced or threatened) in respect thereof, and expenses (as incurred
or suffered and including, but not limited to, any and all expenses incurred in
investigating, preparing or defending any litigation or proceeding, whether
commenced or threatened, and the reasonable fees, disbursements and other
charges of legal counsel) in respect thereof (collectively, "Claims"), insofar
as such Claims arise out of or are based upon any untrue or alleged untrue
statement of a material fact contained in any Registration Statement or
Prospectus (including any preliminary, final or summary prospectus and any
amendment or supplement thereto) related to any such registration or any
omission or alleged omission to state a material fact required to be stated
therein or necessary to make the statements therein not misleading, or any
violation by the Company of the Securities Act or any rule or regulation
thereunder applicable to the Company and relating to action or inaction
required of the Company in connection with any such registration, or any
qualification or compliance incident thereto; provided, however, that the
Company will not be liable in any such case to the extent that any such Claims
arise out of or are based upon any untrue statement or alleged untrue statement
of a material fact or omission or alleged omission of a material fact so made
in reliance upon and in conformity with written information furnished to the
Company by a Holder, Underwriter or other indemnified person hereunder
expressly for use therein. The Company shall also indemnify any Underwriters of
the Registrable Securities, their Agents and each Person who controls any such
Underwriter (within the meaning of the Securities Act) to the same extent as
provided above with respect to the indemnification of the Holders of
Registrable Securities. Such indemnity shall remain in full force and effect
regardless of any investigation made by or on behalf of any Person who may be
entitled to indemnification pursuant to this Section 5 and shall survive the
transfer of securities by such Holder or Underwriter.

                                     -18-
<PAGE>   21

         5.2      Indemnification by Holders. Each Holder, if Registrable
Securities held by it are included in the securities as to which a registration
is being effected, agrees to, severally and not jointly, indemnify and hold
harmless, to the fullest extent permitted by law, the Company, its directors
and officers, each other Person who participates as an Underwriter in the
offering or sale of such securities and its Agents and each Person who controls
the Company against any and all Claims, insofar as such Claims arise out of or
are based upon any untrue or alleged untrue statement of a material fact
contained in any Registration Statement or Prospectus (including any
preliminary, final or summary prospectus and any amendment or supplement
thereto) related to such registration, or any omission or alleged omission to
state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading, to the extent, but only to the
extent, that such untrue statement or alleged untrue statement or omission or
alleged omission was made in reliance upon and in conformity with written
information furnished to the Company by a Holder, Underwriter or other
indemnified person hereunder expressly for use therein; provided, however, that
the aggregate amount which any such Holder shall be required to pay pursuant to
this Section 5.2 shall in no event be greater than the amount of the net
proceeds received by such Holder upon the sale of the Registrable Securities
pursuant to the Registration Statement giving rise to such Claims less all
amounts previously paid by such Holder with respect to any such Claims.

         5.3      Conduct of Indemnification Proceedings. Promptly after receipt
by an indemnified party of notice of any Claim or the commencement of any
action or proceeding involving a Claim under this Section 5, such indemnified
party shall, if a claim in respect thereof is to be made against the
indemnifying party pursuant to Section 5, (i) notify the indemnifying party in
writing of the Claim or the commencement of such action or proceeding;
provided, that the failure of any indemnified party to provide such notice
shall not relieve the indemnifying party of its obligations under this Section
5, except to the extent the indemnifying party is materially and actually
prejudiced thereby and shall not relieve the indemnifying party from any
liability which it may have to any indemnified party otherwise than under this
Section 5, and (ii) permit such indemnifying party to assume the defense of
such claim with counsel reasonably satisfactory to the indemnified party;
provided, however, that any indemnified party shall have the right to employ
separate counsel and to participate in the defense of such claim, but the fees
and expenses of such counsel shall be at the expense of such indemnified party
unless (A) the indemnifying party has agreed in writing to pay such fees and
expenses, (B) the indemnifying party shall have failed to assume the defense of
such claim and employ counsel reasonably satisfactory to such indemnified party
within 20 days after receiving notice from such indemnified party that the
indemnified party believes it has failed to do so, or (C) in the reasonable
judgment of any such indemnified party, based upon advice of counsel, a
conflict of interest shall exist between such indemnified party and the
indemnifying party with respect to such claims; it being understood, however,
that the indemnifying party shall not, in connection with any one such action
or separate but substantially similar or related actions in the same
jurisdiction arising out of the same general allegations or circumstances, be
liable for the reasonable fees and expenses of more than one separate firm of
attorneys (in addition to no more than one firm of local counsel) at any time
for all such indemnified parties. No indemnifying party shall be liable for any
settlement of any such claim or action effected without its written consent,
which consent shall not be unreasonably withheld. No indemnifying party shall,

                                     -19-
<PAGE>   22

without the consent of the indemnified party, which consent shall not be
unreasonable withheld, consent to entry of any judgment or enter into any
settlement of any claim or action in respect of which indemnification or
contribution may be sought hereunder, unless such settlement, (i) includes an
unconditional release of the indemnified party from all liability arising out
of such action or claim, (ii) does not include a statement as to or an
admission of fault, culpability or a failure to act, by or on behalf of any
indemnified party, and (3) does not provide for any action on the part of any
party other than the payment of money damages which is to be paid in full by
the indemnifying party.

         5.4      Contribution. If the indemnification provided for in Section
5.1 or 5.2 from the indemnifying party for any reason is unavailable to (other
than by reason of exceptions provided therein), or is insufficient to hold
harmless an indemnified party hereunder in respect of any Claim, then the
indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result
of such Claim in such proportion as is appropriate to reflect the relative
fault of the indemnifying party, on the one hand, and the indemnified party, on
the other hand, in connection with the actions which resulted in such Claim, as
well as any other relevant equitable considerations. The relative fault of such
indemnifying party and indemnified party shall be determined by reference to,
among other things, whether any action in question, including any untrue or
alleged untrue statement of a material fact or omission or alleged omission to
state a material fact, has been made by, or relates to information supplied by,
such indemnifying party or indemnified party, and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
action. If, however, the foregoing allocation is not permitted by applicable
law, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party in such proportion as is appropriate to
reflect not only such relative faults but also the relative benefits of the
indemnifying party and the indemnified party as well as any other relevant
equitable considerations.

         5.5      Indemnification Payments. The indemnification and contribution
required by this Section 5 shall be made by periodic payments of the amount
thereof during the course of any investigation or defense, as and when bills
are received or any expense, loss, damage or liability is incurred.

         6.       General.

         6.1      Adjustments Affecting Registrable Securities. The Company

agrees that it shall not effect or permit to occur any combination or
subdivision of shares which would adversely affect the ability of the Holder of
any Registrable Securities to include such Registrable Securities in any
registration contemplated by this Agreement or the marketability of such
Registrable Securities in any such registration.

         6.2      Registration Rights to Others. Other than (i) as set forth on
Schedule A attached hereto and (ii) registration rights granted to present and
former directors and officers that are not in conflict with the provisions
hereof, the Company represents and warrants that it is not currently a party to
any agreement with respect to its securities granting registration rights to

                                     -20-
<PAGE>   23

Persons. If the Company shall at any time hereafter provide to any holder of
any securities of the Company rights with respect to the registration of such
securities under the Securities Act (not including any such rights which have
been previously granted), such rights shall not be in conflict with or
adversely affect any of the rights provided in this Agreement to the Holders.

         6.3      Availability of Information; Rule 144; Other Exemptions. At
any time during which the Company is not subject to the reporting requirements
of the Exchange Act, the Company shall, at any time and from time to time, upon
the request of any Holder of Registrable Securities or upon the request of any
Person designated by such Holder as a prospective purchaser of any Registrable
Securities, furnish in writing to such Holder or such prospective purchaser, as
the case may be, a statement as of a date not earlier than 12 months prior to
the date of such request of the nature of the business of the Company and the
products and services it offers and copies of the Company's most recent balance
sheet and profit and loss and retained earnings statements, together with
similar financial statements for such part of the two preceding fiscal years as
the Company shall have been in operation, all such financial statements to be
audited to the extent audited statements are reasonable available, provided
that, in any event the most recent financial statements so furnished shall
include a balance sheet as of a date less than 16 months prior to the date of
such request, statements of profit and loss and retained earnings for the 12
months preceding the date of such balance sheet, and, if such balance sheet is
not as of a date less than 6 months prior to the date of such request,
additional statements of profit and loss and retained earnings for the period
from the date of such balance sheet to a date less than 6 months prior to the
date of such request. During any time during which the Company is not subject
to the reporting requirements of the Exchange Act and as long as any
Registrable Securities are outstanding or the Warrants have not yet expired,
the Company shall deliver to the Holders all reports, financial statements and
other documents required to be provided under subsections (i), (ii) and (iii)
of Section 7.01(a) of the Financing Agreement, without regard to (A) whether,
at any time, such reporting requirements are required pursuant to Section 7.01
of the Financing Agreement and (B) whether all Liens, Reimbursement
Obligations, Letter of Credit Obligations and all other Obligations under the
Financing Agreement have been paid or whether any Lender shall have any
commitment thereunder. The Company will use its best efforts to take such steps
as are necessary to allow the Company to become, and remain, eligible to
register securities on Form S-3 (of any comparable form adopted by the SEC) for
resale purposes, and to make publicly available and available to the Holder of
Registrable Securities to make sales of Registrable Securities pursuant to such
rules.

         The Company covenants that it shall timely file any reports required
to be filed by it under the Securities Act or the Exchange Act (including, but
not limited to, the reports under Sections 13 and 15(d) of the Exchange Act
referred to in subparagraph (c) of Rule 144 under the Securities Act), and that
it shall take such further action as any Holder of Registrable Securities may
reasonably request, all to the extent required from time to time to enable such
Holder to sell Registrable Securities without registration under the Securities
Act within the limitation of the exemptions provided by (i) Rule 144 under the
Securities Act, as such rule may be amended from time to time, or (ii) any
other rule or regulation now existing or hereafter adopted by the SEC. The
Company will furnish to any Holder of Registrable Securities, upon request made
by such Holder at any time, a written statement signed by the Company,
addressed to such Holder,

                                     -21-
<PAGE>   24

as to whether the Company has complied with the current public information
requirements of Rule 144 or Rule 144A. The Company will, at the request of any
Holder of Registrable Securities (upon receipt from such Holder of a
certificate certifying (i) that such Holder has held such Registrable
Securities for a period of not less than one (1) year, and (ii) that such
Holder has not been an affiliate (as defined in Rule 144) of the Company for
more than the ninety (90) preceding days), remove from the stock certificates
representing such Registrable Securities that portion of any restrictive legend
which relates to the registration provisions of the Securities Act.

         6.4      Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified,
supplemented or terminated, and waivers or consents to departures from the
provisions hereof may not be given, without the written consent of the Company
and the Majority Holders; provided, however, that no such amendment,
modification, supplement, waiver or consent to departure shall reduce the
aforesaid percentage of Registrable Securities without the written consent of
all of the Holders of Registrable Securities; and provided further, that
nothing herein shall prohibit any amendment, modification, supplement,
termination, waiver or consent to departure the effect of which is limited only
to those Holders who have agreed to such amendment, modification, supplement,
termination, waiver or consent to departure.

         6.5      Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand delivery, telecopier, any
courier guaranteeing overnight delivery or first class registered or certified
mail, return receipt requested, postage prepaid, addressed to the applicable
party at the address set forth below or such other address as may hereafter be
designated in writing by such party to the other parties in accordance with the
provisions of this Section:

If to the Company:                          Outsource International, Inc.
                                            1690 South Congress Avenue
                                            Delray Beach, Florida 33445
                                            Attn:  Gary Meier
                                            Fax No.  (561) 454-3644

with copies to:                             Akermann Senterfitt
                                            Las Olas Centre II
                                            350 East Las Olas Boulevard
                                            Ft. Lauderdale, Florida 33301
                                            Attn: Donn Beloff, Esq.
                                            Fax No.  954-463-2224

If to the Initial Holders:                  Ableco Finance LLC
                                            450 Park Avenue
                                            New York, New York 10022
                                            Attn:  Eric F. Miller
                                            Fax No.  212-755-3009

                                     -22-
<PAGE>   25

with copies to:                             Schulte Roth & Zabel LLP
                                            900 Third Avenue
                                            New York, New York 10022
                                            Attn:  Frederic L. Ragucci, Esq.
                                            Fax No. 212-593-5955

                                            If to any subsequent
                                            Holder, to the address of
                                            such Person set forth in
                                            the records of the
                                            Company.

         All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; when receipt is
acknowledged, if telecopied; on the next business day, if timely delivered to a
courier guaranteeing overnight delivery; and five days after being deposited in
the mail, if sent first class or certified mail, return receipt requested,
postage prepaid.

         6.6      Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the parties hereto and their respective heirs,
successors and permitted assigns (including any permitted transferee of the
Warrant or Registrable Securities). Any Holder may assign to any permitted (as
determined under the Warrant) transferee of its Warrant or Registrable
Securities (other than a transferee that acquires such Registrable Securities
in a registered public offering or pursuant to a sale under Rule 144 of the
Securities Act (or any successor rule)), its rights and obligations under this
Agreement; provided, however, if any permitted transferee shall take and hold
the Warrant or Registrable Securities, such transferee shall promptly notify
the Company and by taking and holding such Registrable Securities such
permitted transferee shall automatically be entitled to receive the benefits of
and be conclusively deemed to have agreed to be bound by and to perform all of
the terms and provisions of this Agreement as if it were a party hereto (and
shall, for all purposes, be deemed a Holder under this Agreement). If the
Company shall so request any heir, successor or permitted assign (including any
permitted transferee) wishing to avail itself of the benefits of this Agreement
shall agree in writing to acquire and hold the Registrable Securities subject
to all of the terms hereof. For purposes of this Agreement, "successor" for any
entity other than a natural person shall mean a successor to such entity as a
result of such entity's merger, consolidation, sale of substantially all of its
assets, or similar transaction. Except as provided above or otherwise permitted
by this Agreement, neither this Agreement nor any right, remedy, obligation or
liability arising hereunder or by reason hereof shall be assignable by any
Holder or by the Company without the consent of the other parties hereto.

         6.7      Counterparts. This Agreement may be executed in two or more
counterparts, each of which, when so executed and delivered, shall be deemed to
be an original, but all of which counterparts, taken together, shall constitute
one and the same instrument.

         6.8      Descriptive Headings, Etc. The headings in this Agreement are
for convenience of reference only and shall not limit or otherwise affect the
meaning of terms contained herein. Unless the context of this Agreement
otherwise requires: (1) words of any

                                     -23-
<PAGE>   26

gender shall be deemed to include each other gender; (2) words using the
singular or plural number shall also include the plural or singular number,
respectively; (3) the words "hereof", "herein" and "hereunder" and words of
similar import when used in this Agreement shall refer to this Agreement as a
whole and not to any particular provision of this Agreement, and Section and
paragraph references are to the Sections and paragraphs of this Agreement
unless otherwise specified; (4) the word "including" and words of similar
import when used in this Agreement shall mean "including, without limitation,"
unless otherwise specified; (5) "or" is not exclusive; and (6) provisions apply
to successive events and transactions.

         6.9      Severability. In the event that any one or more of the
provisions, paragraphs, words, clauses, phrases or sentences contained herein,
or the application thereof in any circumstances, is held invalid, illegal or
unenforceable in any respect for any reason, the validity, legality and
enforceability of any such provision, paragraph, word, clause, phrase or
sentence in every other respect and of the other remaining provisions,
paragraphs, words, clauses, phrases or sentences hereof shall not be in any way
impaired, it being intended that all rights, powers and privileges of the
parties hereto shall be enforceable to the fullest extent permitted by law.

         6.10     CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER.. THE VALIDITY OF
THIS AGREEMENT, THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF, AND
THE RIGHTS OF THE PARTIES HERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER
OR RELATED HERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

         THE PARTIES AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN
CONNECTION WITH THIS AGREEMENT SHALL BE TRIED AND LITIGATED ONLY IN THE STATE
AND FEDERAL COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF NEW YORK. THE
COMPANY AND THE INITIAL HOLDERS WAIVE, TO THE EXTENT PERMITTED UNDER APPLICABLE
LAW, ANY RIGHT EACH MAY HAVE TO ASSERT THE DOCTRINE OF FORUM NON CONVENIENS OR
TO OBJECT TO VENUE TO THE EXTENT ANY PROCEEDING IS BROUGHT IN ACCORDANCE WITH
THIS SECTION 6.10.

         THE COMPANY AND THE INITIAL HOLDERS HEREBY WAIVE THEIR RESPECTIVE
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING
OUT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, INCLUDING
CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW
OR STATUTORY CLAIMS. THE COMPANY AND THE INITIAL HOLDERS REPRESENT THAT EACH
HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY
TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. IN THE EVENT OF
LITIGATION, A COPY OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A
TRIAL BY THE COURT.

                                     -24-
<PAGE>   27

         6.11     Remedies; Specific Performance. The parties hereto acknowledge
that money damages would not be an adequate remedy at law if any party fails to
perform in any material respect any of its obligations hereunder, and
accordingly agree that each party, in addition to any other remedy to which it
may be entitled at law or in equity, shall be entitled to seek to compel
specific performance of the obligations of any other party under this
Agreement, without the posting of any bond, in accordance with the terms and
conditions of this Agreement in any court specified in Section 6.10 hereof, and
if any action should be brought in equity to enforce any of the provisions of
this Agreement, none of the parties hereto shall raise the defense that there
is an adequate remedy at law. Except as otherwise provided by law, a delay or
omission by a party hereto in exercising any right or remedy accruing upon any
such breach shall not impair the right or remedy or constitute a waiver of or
acquiescence in any such breach. No remedy shall be exclusive of any other
remedy. All available remedies shall be cumulative.

         6.12     Entire Agreement. This Agreement, the Financing Agreement, the
Warrant and the other transaction documents (collectively, (the "Other
Agreements")) are intended by the parties as a final expression of their
agreement and intended to be a complete and exclusive statement of the
agreement and understanding of the parties hereto in respect of the subject
matter contained herein. There are no restrictions, promises, representations,
warranties, covenants or undertakings relating to such subject matter, other
than those set forth or referred to herein or in the Other Agreements. This
Agreement and the Other Agreements supersede all prior agreements and
understandings between the Company and the other parties to this Agreement with
respect to such subject matter.

         6.13     Further Assurances. Each party hereto shall do and perform or
cause to be done and performed all such further acts and things and shall
execute and deliver all such other agreements, certificates, instruments and
documents as any other party hereto reasonably may request in order to carry
out the intent and accomplish the purposes of this Agreement and the
consummation of the transactions contemplated hereby.

         6.14     Construction. The Company and the Initial Holders acknowledge
that each of them has had the benefit of legal counsel of its own choice and
has been afforded an opportunity to review this Agreement with its legal
counsel and that this Agreement shall be construed as if jointly drafted by the
Company and the Holders.

         6.15     No Inconsistent Agreement. The Company will not hereafter
enter into any agreement which is inconsistent with the rights granted to the
Holders in this Agreement.

         6.16     Costs and Attorneys' Fees. In the event that any action, suit
or other proceeding is instituted concerning or arising out of this Agreement,
the Company and the Initial Holders agree that the prevailing party shall
recover from the non-prevailing party all of such prevailing party's costs and
reasonable attorneys' fees incurred in each and every such action, suit or
other proceeding, including any and all appeals or petitions therefrom.

                                     -25-
<PAGE>   28

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

                                              INITIAL HOLDER:

OUTSOURCE INTERNATIONAL, INC.                 ABLECO HOLDING LLC

By: /s/ Jon H. Peterson                       By: /s/ Kevin P. Genda
   --------------------------                     -----------------------------
    Name:  Jon H. Peterson                        Name:  Kevin P. Genda
    Title: Vice President                         Title: Senior Vice President

<PAGE>   29

                                   SCHEDULE A

                        Outstanding Registration Rights

         Pursuant to the Warrant Purchase Agreement, dated as of the date
hereof, among the Company, Fleet National Bank, Comerica Bank, LaSalle Bank
National Association and SunTrust Bank, South Florida, N.A.

         Pursuant to the Registration Rights Agreement, dated as of February
21, 1997 among the Company Triumph-Connecticut Limited Partnership and Bachow
Investment Partners III, L.P., and the other investors party thereto.

         Pursuant to a Separation Agreement and Release, dated as of April 6,
2000, Robert A. Lefcort, a former officer and director of the Company, was
granted registration rights as follows: the Company agreed to update and amend
a previously filed Form S-3 Registration Statement filed on Mr. Lefcort's
behalf on December 17, 1998 (#333-69125) as soon as practicable following the
filing of the Company's Form 10-K for the fiscal year 1999, and the Company
agreed to keep such Registration Statement current and effective for a period
of sixty-six months from the date of the Separation Agreement and Release, or
until such time as the common shares subject to such Registration Statement are
eligible for sale pursuant to the provisions of Rule 144(k), whichever occurs
first.

                                      -2-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00014-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00014-of-00352.parquet"}]]