Exhibit 10.3

FOURTH AMENDMENT TO SECOND LIEN CREDIT AGREEMENT

          THIS FOURTH AMENDMENT TO SECOND LIEN CREDIT AGREEMENT, dated as of
June 26, 2008 (this “Amendment”), is by and among BUTLER SERVICE GROUP, INC., a
New Jersey corporation (the “Borrower”), certain financial institutions party to
the Credit Agreement referred to below (the “Lenders”), and MONROE CAPITAL
MANAGEMENT ADVISORS LLC, in its capacity as agent for the Lenders (“Agent”).

BACKGROUND

          A.          Borrower, the Lenders, Agent and the other Credit Parties
signatory thereto, are parties to that certain Second Lien Credit Agreement
dated as of August 29, 2007 (as amended, restated, supplemented or otherwise
modified and in effect from time to time, the “Credit Agreement”).

          B.          The Borrower, the Agent and the Lenders wish to amend the
Credit Agreement on the terms and conditions set forth below.

AGREEMENT

          NOW THEREFORE, in consideration of the premises and of the mutual
covenants herein contained, the parties hereto agree as follows:

          SECTION 1. DEFINED TERMS. Unless otherwise defined herein, all
capitalized terms used herein shall have the meanings given to them in the
Credit Agreement.

          SECTION 2. AMENDMENTS. Upon the Effective Date, Annex A to the Credit
Agreement is amended by amending and restating the definition of Term B Maturity
Date in its entirety as follows:

 

 

 

“Term Loan B Maturity Date” means the earliest of (a) August 29, 2012, (b) the
later of (i) the “Commitment Termination Date” as defined in the First Lien
Credit Agreement or (ii) July 15, 2008 or such later date as acceptable to all
the Lenders, (c) July 1, 2011 unless all outstanding shares of Holdings’ series
A preferred stock have been redeemed prior to such date, and (d) the date of
indefeasible prepayment in full of the Loans.

          SECTION 3. OTHER AGREEMENTS. In connection with the foregoing
Amendments, the Borrower, the Lenders and the Agent hereby agree to the
following:

                    (a)          No principal payments will be required to be
made by the Borrower pursuant to Section 1.l(b) on July 1, 2008. Notwithstanding
the foregoing, such principal amount will remain outstanding and be added to the
amount due on the Term B Maturity Date.

                    (b)          Notwithstanding anything to the contrary in the
Credit Agreement, the Borrower’s existing LIBOR Loan with a three month LIBOR
Period due July 1, 2008 shall be deemed to be a LIBOR Loan with a six month
LIBOR Period due September 29, 2008.

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                    (c)          The parties hereto agree to modify the Third
Amendment to the Second Lien Credit Agreement dated as of May 28, 2008 by
amending and restating Section 4(a)(iii) to read as follows:

 

 

 

(iii)          “Forbearance Termination Date” means (i) the earlier to occur of
(a) 5:00 p.m. (Chicago time) on July 15, 2008, and (b) the date upon which a
Forbearance Default occurs or (ii) such later date as acceptable to all the
Lenders.

          SECTION 4. REPRESENTATIONS AND WARRANTIES. To induce the Agent and the
Lenders to enter into this Amendment, the Borrower makes the following
representations and warranties to the Agent and the Lenders:

 

 

 

          (a)          The execution, delivery and performance of this Amendment
by the Borrower: (a) is within the Borrower’s organizational power, (b) has been
duly authorized by all necessary or proper corporate and shareholder action, (c)
does not contravene any provision of the Borrower’s charter or bylaws or
equivalent organizational documents, (d) does not violate any law or regulation,
or any order or decree of any court or Governmental Authority, (e) does not
conflict with or result in the breach or termination of, constitute a default
under or accelerate or permit the acceleration of any performance required by,
any indenture, mortgage, deed of trust, lease, agreement or other instrument to
which the Borrower is a party or by which the Borrower or any of its property is
bound, (f) does not result in the creation or imposition of any Lien upon any of
the property of the Borrower other than those in favor of Agent pursuant to the
Loan Documents, and (g) does not require the consent or approval of any
Governmental Authority or any other Person.

 

 

 

          (b)          This Amendment has been duly executed and delivered by or
on behalf of the Borrower.

 

 

 

          (c)          This Amendment constitutes a legal, valid and binding
obligation of the Borrower, enforceable against the Borrower in accordance with
its terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors’
rights generally and by general equitable principles (whether enforcement is
sought by proceedings in equity or at law).

 

 

 

          (d)          No Default or Event of Default has occurred and is
continuing after giving effect to this Amendment except as referenced in Section
4(b) of the Third Amendment to the Credit Agreement.

 

 

 

          (e)          No action, claim, lawsuit, demand, investigation or
proceeding is now pending or, to the knowledge of the Borrower, threatened
against the Borrower, at law, in equity or otherwise, before any court, board,
commission, agency or instrumentality of any Governmental Authority, or before
any arbitrator or panel of arbitrators, (a) which challenges the Borrower’s
right, power, or competence to enter into this Amendment or perform any of its
obligations under this Amendment or any other Loan Document, or the validity or
enforceability of this Amendment or any other Loan Document or any action taken
under this Amendment or any other Loan Document or (b) which if determined
adversely, is reasonably likely to have or result in a Material Adverse Effect.
To the

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knowledge of the Borrower, there does not exist a state of facts which is
reasonably likely to give rise to such proceedings.

 

 

 

          (f)          The representations and warranties of the Borrower
contained in the Credit Agreement and each other Loan Document shall be true and
correct on and as of the date hereof with the same effect as if such
representations and warranties had been made on and as of such date, except that
any such representation or warranty which is expressly made only as of a
specified date need be true only as of such date.

                 SECTION 5. CONDITIONS PRECEDENT TO EFFECTIVENESS OF AMENDMENT.
This Amendment shall become effective upon the date that Borrower, Agent and the
Requisite Lenders shall have executed and delivered this Agreement (the
“Effective Date”).

          SECTION 6. COSTS AND EXPENSES. Borrower agrees to pay all reasonable
costs and expenses of Agent in connection with the negotiation, preparation,
printing, typing, reproduction, execution and delivery of this Agreement and all
other documents furnished pursuant hereto or in connection herewith, including
without limitation, the reasonable fees and out-of-pocket expenses of Winston &
Strawn LLP, special counsel to Agent, as well as other attorney costs,
independent public accountants and other outside experts retained by Agent in
connection with the administration of this Amendment.

          SECTION 7. REFERENCES TO AND EFFECT ON THE CREDIT AGREEMENT.

                    (a)          On and after the Effective Date each reference
in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or
words of like import, and each reference to the Credit Agreement in the Loan
Documents and all other documents delivered in connection with the Credit
Agreement shall mean and be a reference to the Credit Agreement giving effect to
this Agreement.

                    (b)          The Credit Agreement and the Loan Documents
shall remain in full force and effect and are hereby ratified and confirmed.

                    (c)          Except as expressly set forth herein, the
execution, delivery and effectiveness of this Agreement shall not operate as a
waiver of any right, power or remedy of the Lenders or Agent under the Credit
Agreement or the Loan Documents.

          SECTION 8. EXECUTION IN COUNTERPARTS. This Agreement may be executed
in any number of separate counterparts, each of which shall collectively and
separately constitute one agreement.

          SECTION 9. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND ENFORCED, IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION,
VALIDITY AND PERFORMANCE, IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF
NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN THAT STATE AND ANY
APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. THE BORROWER HEREBY CONSENTS
AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN NEW YORK COUNTY, CITY OF
NEW YORK, NEW YORK SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND

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DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THE BORROWER, AGENT AND LENDERS
PERTAINING TO THIS AGREEMENT OR TO ANY MATTER ARISING OUT OF OR RELATING TO THIS
AGREEMENT; PROVIDED, THAT AGENT, LENDERS AND THE BORROWER ACKNOWLEDGE THAT ANY
APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF NEW
YORK COUNTY AND; PROVIDED, FURTHER THAT NOTHING IN THIS AGREEMENT SHALL BE
DEEMED OR OPERATE TO PRECLUDE AGENT FROM BRINGING SUIT OR TAKING OTHER LEGAL
ACTION IN ANY OTHER JURISDICTION TO REALIZE ON THE COLLATERAL OR ANY OTHER
SECURITY FOR THE OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN
FAVOR OF AGENT. THE BORROWER EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO SUCH
JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH CREDIT
PARTY HEREBY WAIVES ANY OBJECTION THAT THE BORROWER MAY HAVE BASED UPON LACK OF
PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY
CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED
APPROPRIATE BY SUCH COURT. THE BORROWER HEREBY WAIVES PERSONAL SERVICE OF THE
SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND
AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINTS AND OTHER PROCESS MAY BE MADE BY
REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH CREDIT PARTY AT THE ADDRESS SET
FORTH IN ANNEX I OF THE CREDIT AGREEMENT AND THAT SERVICE SO MADE SHALL BE
DEEMED COMPLETED UPON THE EARLIER OF THE BORROWER’S ACTUAL RECEIPT THEREOF OR 3
DAYS AFTER DEPOSIT IN THE UNITED STATES MAILS, PROPER POSTAGE PREPAID.

          SECTION 10. HEADINGS. Section headings in this Agreement are included
herein for convenience of reference only and shall not constitute a part of this
Agreement for any other purposes.

[signature pages follow]

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          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed by their respective officers thereunto duly authorized as of
the date above first written.

 

 

 

 

 

 

BUTLER SERVICE GROUP, INC.

 

 

 

 

 

 

By:

 /s/ Mark Koscinski

 

 

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Name:  MARK KOSCINSKI

 

Title:

SVP, CFO

 

 

MONROE CAPITAL MANAGEMENT
ADVISORS LLC, in its individual capacity and as Agent

 

 

By:

/s/ Mark Bohntinsky

 

 

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Name:

 

MARK BOHNTINSKY

 

 

 

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Title:

 

   SVP

 

 

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Butler Service Group, Inc.
Signature Page to Fourth Amendment
to Second Lien Credit Agreement

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GARRISON FUNDING 2008-1 LTD.

 

 

 

By:

     /s/ Joseph Tansey

 

 

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Name:      JOSEPH TANSEY

 

Title:            PRESIDENT

 

 

 

 

MC FUNDING, LTD.

 

By: Monroe Capital Management, LLC,
as Collateral Manager

 

 

 

 

By:

/s/ Mark Bohntinsky

 

 

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Name:

 MARK BOHNTINSKY

 

 

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Title:

  PRESIDENT

 

 

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Butler Service Group, Inc.
Signature Page to Fourth Amendment
to Second Lien Credit Agreement

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