Document:

3

                              TERMINATION AGREEMENT

           The Termination Agreement (the "AGREEMENT") is dated as of May 21,
2002 by and between Valesc Inc., a Delaware corporation ("VALESC") and Swartz
Private Equity, LLC ("SWARTZ").

           WHEREAS, the parties entered into an Investment Agreement for an
equity line transaction dated June 7, 2001, which was amended and restated as of
August 29, 2001 and September 26, 2001 (the "INVESTMENT AGREEMENT");

           WHEREAS, the parties entered into a Registration Rights Agreement
dated June 7, 2001 in connection with the Investment Agreement which was amended
and restated as of August 29, 2001 and September 26, 2001 (the "REGISTRATION
RIGHTS AGREEMENT");

           WHEREAS, Valesc granted Swartz certain warrants to purchase shares of
its common stock in connection with the Investment Agreement (the "COMMITMENT
WARRANTS");

           WHEREAS, Valesc filed Amendment No. 2 of a registration statement on
Form SB-2 covering the Swartz stock on March 25, 2002, but withdrew the
registration statement on April 26, 2002 at the recommendation of the Securities
and Exchange Commission;

           WHEREAS, the Commission informed Valesc that a "completed private
placement" would be deemed not to have occurred in connection with an equity
line transaction in cases where no market exists for the underlying securities
at the time of registration;

           WHEREAS, no market currently exists for Valesc's securities;

           WHEREAS, the Commission informed Valesc that the existence of an
equity line agreement such as the Investment Agreement prior to the time when a
market exists for a company's securities would preclude a "completed private
placement" necessary for the registration exemption upon which equity line
transactions are based;

           WHEREAS, the parties desire to terminate the Investment Agreement and
Registration Rights Agreement in anticipation of the establishment of a market
for Valesc's securities;

           NOW, THEREFORE, in consideration of the mutual representations,
warranties, covenants and agreements, and upon the terms and conditions
hereinafter set forth, the parties do hereby agree as follows:

<PAGE>

           1. INVESTMENT AGREEMENT. Notwithstanding anything to the contrary in
the Investment Agreement, the parties hereby agree to terminate the Investment
Agreement in its entirety with no continuing rights, warranties or other
obligations of any kind on the part of Swartz or Valesc, except as set forth in
SECTION 3 hereof. In connection with the termination, the parties specifically
waive SECTION 2.6 of the Investment Agreement pertaining to the payment of
termination fees and any agreements on the part of Valesc to register shares on
behalf of Swartz, whether underlying warrants or otherwise.

           2. REGISTRATION RIGHTS AGREEMENT. The parties hereby agree to
terminate the Registration Rights Agreement in its entirety with no continuing
rights, warranties or other obligations of any kind on the part of Swartz or
Valesc.

           3. COMMITMENT WARRANTS. Notwithstanding the termination of the
Investment Agreement and Registration Rights Agreement, Swartz shall retain full
ownership of the Commitment Warrants, provided that such warrants shall be
amended in accordance with the Second Amended Warrant to Purchase Common Stock
attached hereto as EXHIBIT A, which Valesc agrees to execute concurrently with
this Agreement.

           4. NEW YORK LAW TO GOVERN. This Agreement and the enforcement thereof
shall be governed by and construed under the internal laws of the State of New
York.

           5. COOPERATION. The parties shall use their best efforts to take, or
cause to be taken, such action, to execute and deliver, or cause to be executed
and delivered, such additional documents and instruments and to do, or cause to
be done, all things necessary, proper or advisable to consummate the
transactions contemplated by this Agreement.

           6. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which is an original and all of which together shall be
deemed to be one and the same instrument.

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

                                            VALESC INC.

                                             By:_______________________
                                             Name:  Samuel Cohen
                                             Title:  President

                                             SWARTZ PRIVATE EQUITY, LLC

                                             By:________________________
                                             Name: Eric. S. Swartz
                                             Title:   Manager

<PAGE>

                                                                       EXHIBIT A

                             SECOND AMENDED WARRANT

<PAGE><Page>

                                                                     EXHIBIT 4.5
================================================================================

                                                          CUSIP/CINS 87287V AA 0

                   12 3/4% Senior Subordinated Notes due 2009

No. A-1                                                            $244,500,000

                              TSI MERGER SUB, INC.

promises to pay to CEDE & CO.

or registered assigns,

the principal sum of TWO HUNDRED FOURTY FOUR MILLION
FIVE HUNDRED THOUSAND DOLLARS

Dollars on February 1, 2009

Interest Payment Dates:  February 1 and August 1

Record Dates:  January 15 and July 15

Dated:  February 14, 2002

                                       TSI MERGER SUB, INC.

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

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

This is one of the Notes referred to
in the within-mentioned Indenture:

THE BANK OF NEW YORK,
 as Trustee

By:
     --------------------------------------------
                Authorized Signatory

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

<Page>

                   12 3/4% Senior Subordinated Notes due 2009

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED
IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS
GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION
2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) ("DTC"), TO THE COMPANY OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THE NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933 (THE "SECURITIES ACT") AND MAY NOT BE OFFERED, SOLD,
PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A)(1) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF
RULE 144A UNDER THE SECURITIES ACT PURCHASING FOR ITS OWN ACCOUNT OR FOR THE
ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144A, (2) IN AN OFFSHORE TRANSACTION COMPLYING WITH RULE
903 OR RULE 904 OF REGULATIONS UNDER THE SECURITIES ACT, (3) PURSUANT TO AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144
THEREUNDER (IF AVAILABLE), (4) TO AN INSTITUTIONAL ACCREDITED INVESTOR IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR
(5) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND
(B) IN ACCORDANCE WITH ALL APPLICABLE BLUE SKY LAWS OF THE STATES OF THE UNITED
STATES.

THIS SECURITY WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT UNDER SECTION 1272, 1273
AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. YOU MAY CONTACT
RAYMOND L. LAWLESS, THE CHIEF FINANCIAL OFFICER OF THE COMPANY, AT 201 N.
FRANKLIN STREET, SUITE 700, TAMPA, FLORIDA, (813) 273-3000, WHO WILL

<Page>

PROVIDE YOU WITH ANY REQUIRED INFORMATION REGARDING THE ORIGINAL ISSUE DISCOUNT.

<Page>

Capitalized terms used herein have the meanings assigned to them in the
Indenture referred to below unless otherwise indicated.

          (1) INTEREST. TSI Merger Sub, Inc., a Delaware corporation (the
     "COMPANY"), promises to pay interest on the principal amount of this Note
     at 12 3/4% per annum from February 14, 2002 until maturity and shall pay
     the Liquidated Damages, if any, payable pursuant to the Registration Rights
     Agreement referred to below. The Company will pay interest and Liquidated
     Damages, if any, semi-annually in arrears on February 1 and August 1 of
     each year, or if any such day is not a Business Day, on the next succeeding
     Business Day (each, an "INTEREST PAYMENT DATE"). Interest on the Notes will
     accrue from the most recent date to which interest has been paid or, if no
     interest has been paid, from the date of issuance; PROVIDED that if there
     is no existing Default in the payment of interest, and if this Note is
     authenticated between a record date referred to on the face hereof and the
     next succeeding Interest Payment Date, interest shall accrue from such next
     succeeding Interest Payment Date; PROVIDED, FURTHER, that the first
     Interest Payment Date shall be August 1, 2002. The Company will pay
     interest (including post-petition interest in any proceeding under any
     Bankruptcy Law) on overdue principal and premium, if any, from time to time
     on demand at a rate that is 1% per annum in excess of the rate then in
     effect; it will pay interest (including post-petition interest in any
     proceeding under any Bankruptcy Law) on overdue installments of interest
     and Liquidated Damages, if any, (without regard to any applicable grace
     periods) from time to time on demand at the same rate to the extent lawful.
     Interest will be computed on the basis of a 360-day year of twelve 30-day
     months.

          (2) METHOD OF PAYMENT. The Company will pay interest on the Notes
     (except defaulted interest) and Liquidated Damages, if any, to the Persons
     who are registered Holders of Notes at the close of business on the January
     15 or July 15 next preceding the Interest Payment Date, even if such Notes
     are canceled after such record date and on or before such Interest Payment
     Date, except as provided in Section 2.12 of the Indenture with respect to
     defaulted interest. The Notes will be payable as to principal, premium,
     interest and Liquidated Damages, if any, at the office or agency of the
     Company maintained for such purpose within or without the City and State of
     New York, or, at the option of the Company, payment of interest and
     Liquidated Damages, if any, may be made by check mailed to the Holders at
     their addresses set forth in the register of Holders; PROVIDED that payment
     by wire transfer of immediately available funds will be required with
     respect to principal of and interest, premium and Liquidated Damages, if
     any, on, all Global Notes and all other Notes the Holders of which will
     have provided wire transfer instructions to the Company or the Paying
     Agent. Such payment will be in such coin or currency of the United States
     of America as at the time of payment is legal tender for payment of public
     and private debts.

          (3) PAYING AGENT AND REGISTRAR. Initially, The Bank of New York, the
     Trustee under the Indenture, will act as Paying Agent and Registrar. The
     Company may change any Paying Agent or Registrar without notice to any
     Holder. The Company or any of its Subsidiaries may act in any such
     capacity.

          (4) INDENTURE. The Company issued the Notes under an Indenture dated
     as of February 14, 2002 (the "INDENTURE") among the Company, the Guarantors
     and the Trustee. The terms of the Notes include those stated in the
     Indenture and those made part of the Indenture by reference to the Trust
     Indenture Act of 1939, as amended (15 U.S. Code Sections 77aaa-77bbbb). The
     Notes are subject to all such terms, and Holders are referred to the
     Indenture and such Act for a statement of such terms. To the extent any
     provision of this Note conflicts with the express provisions of the
     Indenture, the provisions of the Indenture shall govern and be controlling.
     The Notes are unsecured obligations of the Company.

<Page>

          (5) OPTIONAL REDEMPTION.

     (a) Except as set forth in subparagraph (b) of this Paragraph 5, the
Company will not have the option to redeem the Notes prior to February 1, 2006.
Thereafter, the Company will have the option to redeem the Notes, in whole or in
part, upon not less than 30 nor more than 60 days' notice, at the redemption
prices (expressed as percentages of principal amount) set forth below plus
accrued and unpaid interest and Liquidated Damages, if any, thereon to the
applicable redemption date, if redeemed during the twelve-month period beginning
on February 1 of the years indicated below:

<Table>
<Caption>
        YEAR                                                       PERCENTAGE
        <S>                                                          <C>
        2006.................................................        106.375%
        2007.................................................        103.188%
        2008 and thereafter..................................        100.000%
</Table>

     (b) Notwithstanding the provisions of subparagraph (a) of this Paragraph 5,
at any time prior to February 1, 2005, the Company may redeem Notes with the net
cash proceeds of one or more Equity Offerings by the Company or a contribution
to the Company's common equity capital made with the net cash proceeds of a
concurrent Equity Offering by the Parent or the Ultimate Parent (but excluding
any Excluded Capital Contribution and any Reserved Contribution); PROVIDED that
at least 65% in aggregate principal amount of the Notes issued under the
Indenture remains outstanding immediately after the occurrence of such
redemption and that such redemption occurs within 60 days of the date of the
closing of such Equity Offering.

          (6) MANDATORY REDEMPTION.

     The Company will not be required to make mandatory redemption payments with
respect to the Notes.

          (7) REPURCHASE AT OPTION OF HOLDER.

               (a) If there is a Change of Control, the Company will be required
     to make an offer (a "CHANGE OF CONTROL OFFER") to repurchase all or any
     part (equal to $1,000 or an integral multiple thereof) of each Holder's
     Notes at a purchase price equal to 101% of the aggregate principal amount
     thereof plus accrued and unpaid interest and Liquidated Damages, if any,
     thereon to the date of purchase (the "CHANGE OF CONTROL PAYMENT"). Within
     10 days following any Change of Control, the Company will mail a notice to
     each Holder setting forth the procedures governing the Change of Control
     Offer as required by the Indenture.

               (b) If the Company or a Subsidiary consummates any Asset Sales,
     within five days of each date on which the aggregate amount of Excess
     Proceeds exceeds $15 million, the Company will commence an offer to all
     Holders of Notes and all holders of other Indebtedness that is PARI PASSU
     with the Notes containing provisions similar to those set forth in the
     Indenture with respect to offers to purchase or redeem with the proceeds of
     sales of assets (an "ASSET SALE OFFER") pursuant to Section 3.09 of the
     Indenture to purchase the maximum principal amount of Notes (including any
     Additional Notes) and other PARI PASSU Indebtedness that may be purchased
     out of the Excess Proceeds at an offer price in cash in an amount equal to
     100% of the principal amount thereof plus accrued and unpaid interest and
     Liquidated Damages thereon, if any, to the date fixed for the closing of
     such offer, in accordance with the procedures set forth in the Indenture.
     To the extent that the aggregate amount of Notes (including any Additional
     Notes) and other PARI PASSU Indebtedness tendered pursuant to an Asset Sale
     Offer is less than the Excess

<Page>

     Proceeds, the Company (or such Subsidiary) may use such deficiency for any
     purpose not otherwise prohibited by the Indenture. If the aggregate
     principal amount of Notes and other PARI PASSU Indebtedness surrendered by
     holders thereof exceeds the amount of Excess Proceeds, the Trustee shall
     select the Notes and other PARI PASSU Indebtedness to be purchased on a PRO
     RATA basis. Holders of Notes that are the subject of an offer to purchase
     will receive an Asset Sale Offer from the Company prior to any related
     purchase date and may elect to have such Notes purchased by completing the
     form entitled "Option of Holder to Elect Purchase" on the reverse of the
     Notes.

          (8) NOTICE OF REDEMPTION. Notice of redemption will be mailed at least
     30 days but not more than 60 days before the redemption date to each Holder
     whose Notes are to be redeemed at its registered address. Notes in
     denominations larger than $1,000 may be redeemed in part but only in whole
     multiples of $1,000, unless all of the Notes held by a Holder are to be
     redeemed. On and after the redemption date interest ceases to accrue on
     Notes or portions thereof called for redemption.

          (9) DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered
     form without coupons in denominations of $1,000 and integral multiples of
     $1,000. The transfer of Notes may be registered and Notes may be exchanged
     as provided in the Indenture. The Registrar and the Trustee may require a
     Holder, among other things, to furnish appropriate endorsements and
     transfer documents and the Company may require a Holder to pay any taxes
     and fees required by law or permitted by the Indenture. The Company need
     not exchange or register the transfer of any Note or portion of a Note
     selected for redemption, except for the unredeemed portion of any Note
     being redeemed in part. Also, the Company need not exchange or register the
     transfer of any Notes for a period of 15 days before a selection of Notes
     to be redeemed or during the period between a record date and the
     corresponding Interest Payment Date.

          (10) PERSONS DEEMED OWNERS. The registered Holder of a Note may be
     treated as its owner for all purposes.

          (11) AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions,
     the Indenture, the Note Guarantees or the Notes may be amended or
     supplemented with the consent of the Holders of at least a majority in
     principal amount of the then outstanding Notes and Additional Notes, if
     any, voting as a single class, and any existing default or compliance with
     any provision of the Indenture, the Note Guarantees or the Notes may be
     waived with the consent of the Holders of a majority in principal amount of
     the then outstanding Notes and Additional Notes, if any, voting as a single
     class. Without the consent of any Holder of a Note, the Indenture, the Note
     Guarantees or the Notes may be amended or supplemented to cure any
     ambiguity, defect or inconsistency, to provide for uncertificated Notes in
     addition to or in place of certificated Notes, to provide for the
     assumption of the Company's or any Guarantor's obligations to Holders of
     the Notes in case of a merger or consolidation, to make any change that
     would provide any additional rights or benefits to the Holders of the Notes
     or that does not adversely affect the legal rights under the Indenture of
     any such Holder, to comply with the requirements of the SEC in order to
     effect or maintain the qualification of the Indenture under the Trust
     Indenture Act, to provide for the Issuance of Additional Notes in
     accordance with the limitations set forth in the Indenture, or to allow any
     Guarantor to execute a supplemental indenture to the Indenture and/or a
     Note Guarantee with respect to the Notes.

          (12) DEFAULTS AND REMEDIES. Events of Default include if: (i) the
     Company defaults for 30 days in the payment when due of interest on, or
     Liquidated Damages with respect to, the Notes whether or not prohibited by
     the subordination provisions of the Indenture; (ii) the

<Page>

     Company defaults in the payment when due (at maturity, upon redemption or
     otherwise) of the principal of, or premium, if any, on the Notes, whether
     or not prohibited by the subordination provisions of the Indenture; (iii)
     the Company or any of its Restricted Subsidiaries fails to comply with the
     provisions of Section 4.10 or 4.15 of the Indenture; (iv) the Company or
     any of its Restricted Subsidiaries fails to observe or perform any other
     covenant, representation, warranty or other agreement in the Indenture for
     60 days after notice to the Company by the Trustee or the Holders of at
     least 25% in aggregate principal amount of the Notes then outstanding
     voting as a single class; (v) a default occurs under any mortgage,
     indenture or instrument under which there may be issued or by which there
     may be secured or evidenced any Indebtedness for money borrowed by the
     Company or any of its Restricted Subsidiaries (or the payment of which is
     guaranteed by the Company or any of its Restricted Subsidiaries), whether
     such Indebtedness or guarantee now exists, or is created after the date of
     the Indenture, if that default: (A) is caused by a failure to pay principal
     of, or interest or premium, if any, on such Indebtedness at the Stated
     Maturity thereof (a "PAYMENT DEFAULT"); or (B) results in the acceleration
     of such Indebtedness prior to its express maturity, and, in each case, the
     principal amount of any such Indebtedness, together with the principal
     amount of any other such Indebtedness or the maturity of which has been so
     accelerated, aggregates $15.0 million or more; (vi) a final judgment or
     final judgments for the payment of money are entered by a court or courts
     of competent jurisdiction against the Company or any of its Restricted
     Subsidiaries, which judgment or judgments are not paid, discharged or
     stayed for a period of 60 days after such judgment becomes final and
     non-appealable; PROVIDED that the aggregate of all such undischarged
     judgments exceeds $15.0 million; (vii) the Company or any of its
     Significant Subsidiaries or any group of Restricted Subsidiaries that,
     taken as a whole, would constitute a Significant Subsidiary pursuant to or
     within the meaning of Bankruptcy Law: (A) commences a voluntary case; (B)
     consents to the entry of an order for relief against it in an involuntary
     case; (C) consents to the appointment of a custodian of it or for all or
     substantially all of its property; (D) makes a general assignment for the
     benefit of its creditors; or (E) generally is not paying its debts as they
     become due; (viii) a court of competent jurisdiction enters an order or
     decree under any Bankruptcy Law that: (A) is for relief against the Company
     or any of its Significant Subsidiaries or any group of Restricted
     Subsidiaries that, taken as a whole, would constitute a Significant
     Subsidiary in an involuntary case; (B) appoints a custodian of the Company
     or any of its Significant Subsidiaries or any group of Restricted
     Subsidiaries that, taken as a whole, would constitute a Significant
     Subsidiary or for all or substantially all of the property of the Company
     or any of its Significant Subsidiaries or any group of Restricted
     Subsidiaries that, taken as a whole, would constitute a Significant
     Subsidiary; or (C) orders the liquidation of the Company or any of its
     Significant Subsidiaries or any group of Restricted Subsidiaries that,
     taken as a whole, would constitute a Significant Subsidiary; and the order
     or decree remains unstayed and in effect for 60 consecutive days; (ix)
     except as permitted by the Indenture, any Note Guarantee (other than a Note
     Guarantee issued by a Subsidiary that is not a Significant Subsidiary) is
     held in any judicial proceeding to be unenforceable or invalid or shall
     cease for any reason to be in full force and effect or any Guarantor, or
     any Person acting on behalf of any Guarantor, shall deny or disaffirm its
     obligations under its Note Guarantee (other than a Guarantee issued by a
     Subsidiary that is not a Significant Subsidiary); (x) failure by the Parent
     or the Ultimate Parent to comply with any of the provisions described in
     Section 4.19 of the Indenture; (xi) the Merger is not consummated on or
     prior to 5:00 p.m. New York time on the business date immediately
     succeeding the date of the Indenture; (xii) failure by the Company to
     comply with any of the provisions described in Section 4.20 of the
     Indenture, which default remains uncured for 120 days; PROVIDED, HOWEVER,
     that should the Equity Investors have purchased Equity Interests (other
     than Disqualified Stock) of the Ultimate Parent in connection with Section
     4.20 of the Indenture for net cash proceeds aggregating $25 million during
     all periods of non-compliance (or in contemplation of non-compliance as
     evidenced by an Officers' Certificate delivered to the Trustee) and such
     proceeds have been contributed to the Company as

<Page>

     common equity capital, then the covenant will cease to be in force and
     effect and any Default or Event of Default arising therefrom shall be
     deemed to have been cured.

          (13) If any Event of Default occurs and is continuing, the Trustee or
     the Holders of at least 25% in principal amount of the then outstanding
     Notes may declare all the Notes to be due and payable. Notwithstanding the
     foregoing, in the case of an Event of Default arising from certain events
     of bankruptcy or insolvency, all outstanding Notes will become due and
     payable without further action or notice. Holders may not enforce the
     Indenture or the Notes except as provided in the Indenture. Subject to
     certain limitations, Holders of a majority in principal amount of the then
     outstanding Notes may direct the Trustee in its exercise of any trust or
     power. The Trustee may withhold from Holders of the Notes notice of any
     continuing Default or Event of Default (except a Default or Event of
     Default relating to the payment of principal or interest) if it determines
     that withholding notice is in their interest. The Holders of a majority in
     aggregate principal amount of the Notes then outstanding by notice to the
     Trustee may on behalf of the Holders of all of the Notes waive any existing
     Default or Event of Default and its consequences under the Indenture except
     a continuing Default or Event of Default in the payment of interest on, or
     the principal of, the Notes. The Company is required to deliver to the
     Trustee annually a statement regarding compliance with the Indenture, and
     the Company is required upon becoming aware of any Default or Event of
     Default, to deliver to the Trustee a statement specifying such Default or
     Event of Default.

          (14) SUBORDINATION. Payment of principal, interest and premium and
     Liquidated Damages, if any, on the Notes is subordinated to the prior
     payment of Senior Debt on the terms provided in the Indenture.

          (15) TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its individual or
     any other capacity, may make loans to, accept deposits from, and perform
     services for the Company or its Affiliates, and may otherwise deal with the
     Company or its Affiliates, as if it were not the Trustee.

          (16) NO RECOURSE AGAINST OTHERS. A director, officer, employee,
     incorporator or stockholder, of the Company or any of the Guarantors, as
     such, will not have any liability for any obligations of the Company or
     such Guarantor under the Notes, the Note Guarantees or the Indenture or for
     any claim based on, in respect of, or by reason of, such obligations or
     their creation. Each Holder by accepting a Note waives and releases all
     such liability. The waiver and release are part of the consideration for
     the issuance of the Notes.

          (17) AUTHENTICATION. This Note will not be valid until authenticated
     by the manual signature of the Trustee or an authenticating agent.

          (18) ABBREVIATIONS. Customary abbreviations may be used in the name of
     a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT
     (= tenants by the entireties), JT TEN (= joint tenants with right of
     survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
     (= Uniform Gifts to Minors Act).

          (19) ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND
     RESTRICTED DEFINITIVE NOTES. In addition to the rights provided to Holders
     of Notes under the Indenture, Holders of Restricted Global Notes and
     Restricted Definitive Notes will have all the rights set forth in the A/B
     Exchange Registration Rights Agreement dated as of February 14, 2002, among
     the Company, the Guarantors and the other parties named on the signature
     pages thereof or, in the case of Additional Notes, Holders of Restricted
     Global Notes and Restricted Definitive Notes will

<Page>

     have the rights set forth in one or more registration rights agreements, if
     any, among the Company, the Guarantors and the other parties thereto,
     relating to rights given by the Company and the Guarantors to the
     purchasers of any Additional Notes (collectively, the "REGISTRATION RIGHTS
     AGREEMENT").

          (20) CUSIP NUMBERS. Pursuant to a recommendation promulgated by the
     Committee on Uniform Security Identification Procedures, the Company has
     caused CUSIP numbers to be printed on the Notes and the Trustee may use
     CUSIP numbers in notices of redemption as a convenience to Holders. No
     representation is made as to the accuracy of such numbers either as printed
     on the Notes or as contained in any notice of redemption and reliance may
     be placed only on the other identification numbers placed thereon.

     The Company will furnish to any Holder upon written request and without
charge a copy of the Indenture and/or the Registration Rights Agreement.
Requests may be made to:

TSI Merger Sub, Inc.
201 N. Franklin Street, Suite 700
Tampa, Florida 33602
Attention:  Robert Garcia, Jr.

<Page>

                                 ASSIGNMENT FORM

     To assign this Note, fill in the form below:

(I) or (we) assign and transfer this Note to:
                                              ----------------------------------
                                                 (Insert assignee's legal name)

--------------------------------------------------------------------------------
                  (Insert assignee's soc. sec. or tax I.D. no.)

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

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

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

--------------------------------------------------------------------------------
              (Print or type assignee's name, address and zip code)

and irrevocably appoint
                        --------------------------------------------------------
to transfer this Note on the books of the Company. The agent may substitute
another to act for him.

Date: _______________

                    Your Signature:
                                    --------------------------------------------
                    (Sign exactly as your name appears on the face of this Note)

Signature Guarantee*:
                      --------------------------------

*    Participant in a recognized Signature Guarantee Medallion Program (or other
signature guarantor acceptable to the Trustee).

<Page>

                       OPTION OF HOLDER TO ELECT PURCHASE

     If you want to elect to have this Note purchased by the Company pursuant to
Section 4.10 or 4.15 of the Indenture, check the appropriate box below:

                   / / Section 4.10      / / Section 4.15

     If you want to elect to have only part of the Note purchased by the Company
pursuant to Section 4.10 or Section 4.15 of the Indenture, state the amount you
elect to have purchased:

                                                 $________________
Date: _______________

                  Your Signature:
                                  ---------------------------------------------
                    (Sign exactly as your name appears on the face of this Note)

                   Tax Identification No.:
                                           -------------------------------------

Signature Guarantee*:
                      -------------------------

*    Participant in a recognized Signature Guarantee Medallion Program (or other
signature guarantor acceptable to the Trustee).

<Page>

              SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

     The following exchanges of a part of this Global Note for an interest in
another Global Note or for a Definitive Note, or exchanges of a part of another
Global Note or Definitive Note for an interest in this Global Note, have been
made:

<Table>
<Caption>
                                                                           Principal Amount
                           Amount of decrease    Amount of increase in    of this Global Note       Signature of
                           in Principal Amount      Principal Amount        following such       authorized officer
                                   of                      of                  decrease             of Trustee or
    Date of Exchange        this Global Note        this Global Note         (or Increase)            Custodian
    ----------------       -------------------   ---------------------    -------------------    ------------------
<S>                        <C>                   <C>                      <C>                    <C>

</Table>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}]]