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EXHIBIT 10.24
 
THIRD AMENDMENT TO ACCOUNT  PURCHASE AGREEMENT AND OTHER DOCUMENTS

This THIRD AMENDMENT TO ACCOUNT PURCHASE AGREEMENT AND OTHER DOCUMENTS (this
"Amendment") is entered into as of September 25, 2012 by and between TRIAD
PERSONNEL SERVICES, INC., an Illinois corporation, GENERAL
EMPLOYMENT  ENTERPRISES, INC., an Illinois corporation, BMPS, INC., an Ohio
corporation, BMCH, INC. d/b/a TRIAD PERSONNEL SERVICES, an Ohio corporation, and
BMCHPA, INC. d/b/a TRIAD TEMPORARIES, a Pennsylvania corporation (collectively,
"Customer"), and WELLS FARGO BANK, NATIONAL ASSOCIATION, acting through its
WELLS FARGO BUSINESS CREDIT operating division ("WFBC").
 
WHEREAS, Customer and WFBC have entered into certain accounts purchase
arrangements pursuant to that certain Account  Purchase Agreement, dated as of
December  14, 2010 (as amended, restated, renewed, extended, supplemented,
substituted and otherwise modified from time to time, the "Account Purchase
Agreement"), between Customer and WFBC, and certain other instruments,
agreements and documents executed and/or delivered in connection therewith (all
such instruments, agreements  and  documents, as amended, restated, renewed,
extended, supplemented, substituted and otherwise modified from time to time,
together with the Account Purchase Agreement, collectively, the "Documents");

WHEREAS, effective October 1, 2012, WFBC will implement the Receivables
Financing System, an internet-based system for the management of the accounts
purchase arrangements between Customer and WFBC;
 
WHEREAS, the implementation of the Receivables Financing System requires certain
modifications to the Account Purchase Agreement; and
 
WHEREAS, Customer and WFBC have agreed to amend and modify certain provisions of
Account Purchase Agreement, subject to the terms and conditions of this
Amendment.
 
NOW, THEREFORE, upon the mutual agreements and covenants set forth herein and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:
 
1.   Definitions. Capitalized terms used and not defined in this Amendment shall
have the respective meanings given them in the Account Purchase Agreement.
 
2.   Amendment to Agreements. Under the Receivables Financing System, WFBC will
implement modifications to certain accounting methods and operational procedures
for various matters, including, without limitation, matters pertaining to the
payment of the purchase price for Acceptable Accounts, the application of the
proceeds of Acceptable Accounts, and the accounting of the Collected Reserve.
 
        (a)               Acceptable Accounts and the Collected Reserve. 
Notwithstanding anything to the contrary set forth in the Account Purchase
Agreement or in any other Document, from and after October 1, 2012 (the
"Amendment Effective Date"):
 
(1)          All amounts payable to Customer under the Account Purchase
Agreement shall be paid by WFBC crediting such amounts to the Collected Reserve.
 
 
 

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(2)         From time to time, the Collected Reserve may reflect a credit
balance if the aggregate amounts funded by WFBC to the Collected Reserve,
including for the purchase of Acceptable Accounts and amounts collected in
respect of an Account, less any reserves established by WFBC, in its sole
discretion, exceed the aggregate amount of funds drawn by or paid to the
Customer from the Collected Reserve (such credit balance, if any, the "Available
Amount"). The Available Amount shall constitute part of the Collateral, and
absent the occurrence of an Event of Default, such Available Amount may be made
available to Customer, in WFBC's discretion, upon Customer's written request.
 
(b)   Minimum Fee. Notwithstanding anything to the contrary set forth in the
Account Purchase Agreement or in any other Document, from and after the
Amendment Effective Date, Customer shall pay the Minimum Fee on the last day of
each month. Each Minimum Fee shall be fully earned when due, may be charged by
WFBC to the Collected Reserve and shall not be subject to refund, rebate or
proration for any reason whatsoever.
 
3.   Effect of this Amendment. Except as specifically set forth herein, no other
changes or modifications to the Account Purchase Agreement or the other
Documents are intended or implied, and, in all other respects, the Account
Purchase Agreement and the other Documents shall continue to remain in full
force and effect in accordance with their respective terms as of the date
hereof. This Amendment, and the instruments and agreements delivered pursuant
hereto and thereto constitute the entire agreement of the parties with respect
to the subject matter hereof and thereof, and supersede all prior oral or
written communications, memoranda, proposals, negotiations, discussions, term
sheets and commitments with respect to the subject matter hereof and thereof. To
the extent of any conflict between any term of this Amendment and any term of
the Account Purchase Agreement or any other Document, the term of this Amendment
shall control. Except as specifically set forth herein, nothing contained herein
shall evidence a waiver or amendment by WFBC of any other provision of the
Account Purchase Agreement or the Documents.
 
4.   Further Assurances. Customer shall execute and deliver such additional
documents and take such additional action as may be reasonably requested by WFBC
to effectuate the provisions and purposes of this Amendment.
 
5.   Binding Effect. This Amendment shall be binding upon and inure to the
benefit of each of the parties hereto and their respective successors and
assigns.
 
6.   Governing Law. The rights and obligations hereunder of each of the parties
hereto shall be governed by and interpreted and determined in accordance with
the internal laws of the State of Texas (without giving effect to principles of
conflict of laws).
 
7.   Counterparts. This Amendment may be signed in counterparts, each of which
shall be an original and all of which taken together constitute one agreement.
In making proof of this Amendment, it shall not be necessary to produce or
account for more than one counterpart signed by the party to be charged.
Delivery of an executed counterpart of this Amendment electronically or by
facsimile shall be effective as delivery of an original executed counterpart of
this Amendment.

[Signature page follows]

 
 

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Each of the parties has signed this Amendment as of the day and year first above written.
 

  TRIAD PERSONNEL SERVICES, INC.            
By:
/s/ Salvatore J. Zizza     Title: CEO  

 

STATE OF
Illinois
    )         )
COUNTY OF
Du Page     )

 
The foregoing instrument acknowledged before me this 11th day of December 2012,
by Salvatore J. Zizza, as CEO, of TRIAD PERSONNEL SERVICES, INC., an Illinois
corporation, on behalf of the corporation. He/She is x personally known to me
or o has produced _____________________as identification and did (did not) take
an oath.
 

    /s/ Marlene E Justus      
(Notary Signature)
         
(NOTARY SEAL)
  Marlene E Justus      
(Notary Narne Printed)
 

    NOTARY PUBLIC Commission No.       My Commission Expires: 5/24/2013  

[image.jpg]
 
 
 

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  GENERAL EMPLOYMENT ENTERPRISES, INC.            
By:
/s/ Salvatore J. Zizza     Title: CEO  

 

STATE OF
Illinois
    )         )
COUNTY OF
Du Page     )

  
    The foregoing instrument acknowledged before me this 11th day of
December 2012, by Salvatore J. Zizza, as CEO, of GENERAL EMPLOYMENT ENTERPRISES,
INC., an Illinois corporation, on behalf of the corporation. He/She is x
personally known to me or o has produced ___________________________ as
identification and did (did not) take an oath.
 

    /s/ Marlene E. Justus      
(Notary Signature)
         
(NOTARY SEAL)
  Marlene E Justus      
(Notary Narne Printed)
         

    NOTARY PUBLIC Commission No.       My Commission Expires: 5/24/2013  

[image.jpg]
 
 
 

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  BMPS, INC.            
By:
/s/ Salvatore J. Zizza     Title: CEO  

 

STATE OF
Illinois
    )         )
COUNTY OF
Du Page     )

 
The foregoing instrument acknowledged before me this 11th day of  December 2012,
by Salvatore J. Zizza, as CEO, of BMPS, INC., an Ohio corporation, on behalf of
the corporation.  He/She is x personally known to me or o has produced
___________________________ as identification and did (did not) take an oath.
 

    /s/ Marlene E Justus      
(Notary Signature)
         
(NOTARY SEAL)
  Marlene E Justus      
(Notary Narne Printed)
 

    NOTARY PUBLIC Commission No.       My Commission Expires: 5/24/2013  

[image.jpg]
 
 
 

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  BMCH, INC. d/b/a TRIAD PERSONNEL SERVICES            
By:
/s/ Salvatore J. Zizza     Title: CEO  

 

STATE OF
Illinois
    )         )
COUNTY OF
Du Page     )

 
           The foregoing instrument acknowledged before me this 11th
day of  December 2012, by Salvatore J. Zizza, as CEO, of BMCH, INC. d/b/a TRIAD
PERSONNEL SERVICES, an Ohio corporation, on behalf of the corporation.  He/She
is x personally known to me or o has produced ___________________________ as
identification and did (did not) take an oath.
 

    /s/ Marlene E Justus      
(Notary Signature)
         
(NOTARY SEAL)
  Marlene E Justus      
(Notary Narne Printed)
 

    NOTARY PUBLIC Commission No.       My Commission Expires: 5/24/2013  

[image.jpg]
 
 
 

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  BMCHPA, INC. d/b/a TRIAD TEMPORARIES            
By:
/s/ Salvatore J. Zizza     Title: CEO  

 

STATE OF
Illinois
    )         )
COUNTY OF
Du Page     )

 
           The foregoing instrument acknowledged before me this 11th
day of  December 2012, by Salvatore J. Zizza, as CEO, of BMCHPA, INC. d/b/a
TRIAD TEMPORARIES, a Pennsylvania corporation, on behalf of the corporation. 
He/She is x personally known to me or o has produced ___________________________
as identification and did (did not) take an oath.
 

    /s/ Marlene E Justus      
(Notary Signature)
         
(NOTARY SEAL)
  Marlene E Justus      
(Notary Narne Printed)
 

    NOTARY PUBLIC Commission No.       My Commission Expires: 5/24/2013  

[image.jpg]
 
 
 

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  WELLS FARGO BANK, NATIONAL ASSOCIATION            
By:
/s/ Tom Chapman     Title: Authorized Signatory  

 
 

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AFFIDAVIT OF OUT-OF-STATE DELIVERY
 

STATE OF
Texas
    )         )
COUNTY OF
Dallas     )

 
BEFORE ME, the undersigned authority, personally appeared the undersigned Tom
Chapman (the "Affiant"), who being first duly sworn upon oath, deposes and says
that:
 
1.        The Affiant is a AVP of WELLS FARGO BANK, NATIONAL ASSOCIATION,
acting through its WELLS FARGO BUSINESS CREDIT operating division ("WFBC"), and
the Affiant is duly authorized to and does make this affidavit in said capacity
on behalf of WFBC.
 
2.            That on the ______________ day
of ____________________________  2012, the Affiant received delivery in Dallas,
Texas, on behalf of WFBC, of  that certain THIRD AMENDMENT TO ACCOUNT PURCHASE
AGREEMENT AND OTHER DOCUMENTS (the  ''Amendment"), which Amendment is between
TRIAD PERSONNEL SERVICES, INC., GENERAL EMPLOYMENT ENTERPRISES, INC., BMPS,
INC., BMCH, INC. d/b/a TRIAD PERSONNEL SERVICES, BMCHPA, )NC. d/b/a TRIAD
TEMPORARIES and WFBC.

FURTHER AFFIANT SAYETH NAUGHT.
 

    /s/ Tom Chapman       Tom Chapman , Affiant     Assistant Vice President ,
Title

 
SWORN TO AND SUBSCRIBED before me this of 14th day of December 2012, by Tom
Chapman as AVP, of WELLS FARGO BANK, NATIONAL ASSOCIATION, acting through
its WELLS FARGO BUSINESS CREDIT operating division, on behalf of the
association. He/She is o personally known to me or o has produced
___________________________ as identification and did (did not) take an oath.
 

    /s/ Shelly Ann Scott      
(Notary Signature)
         
(NOTARY SEAL)
  Shelly Ann Scott      
(Notary Narne Printed)
 

    NOTARY PUBLIC Commission No. 00481390-0     My Commission Expires: 3-15-15  

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