Document:

exv10w5

 

Exhibit 10.5

SECURITY AGREEMENT

     This
SECURITY AGREEMENT (this “Security Agreement”), dated as of
February 28, 2007, is by and
among the GRANTORS listed on the signature pages hereto and such PERSONS that hereafter become
parties to this Security Agreement (each a “Grantor” and collectively, the “Grantors”) and
CAPITALSOURCE FINANCE LLC, in its capacity as Agent for Lenders (as defined below) (in such
capacity, the “Secured Party”). Capitalized terms used herein shall have the meanings ascribed to
them in Section 1 below.

W I T N E S S E T H:

     A. Pursuant to that certain Credit Agreement dated as of the date hereof by and among Global
Employment Solutions, Inc., a Colorado corporation (“Borrower”), Global Employment Holdings, Inc.,
a Delaware corporation (“Parent”), Temporary Placement Service, Inc., a Georgia corporation,
Southeastern Personnel Management, Inc., a Florida corporation, Main Line Personnel Services, Inc.,
a Pennsylvania corporation, Friendly Advanced Software Technology, Inc., a New York corporation,
Excell Personnel Services Corporation, an Illinois corporation, Southeastern Staffing, Inc., a
Florida corporation, Bay HR, Inc., a Florida corporation, Southeastern Georgia HR, Inc., a Georgia
corporation, Southeastern Staffing II, Inc., a Florida corporation, Southeastern Staffing III,
Inc., a Florida corporation, Southeastern Staffing IV, Inc., a Florida corporation, Southeastern
Staffing V, Inc., a Florida corporation, Southeastern Staffing VI, Inc., a Florida corporation,
Keystone Alliance, Inc., a Florida corporation (together with the Borrower and the Parent, the
“Credit Parties”), Agent, and the lenders party thereto (“Lenders”) from time to time (including
all annexes, exhibits and schedules thereto, as from time to time amended, restated, supplemented
or otherwise modified and in effect, the “Credit Agreement”), Lenders have agreed to make the Loans
described therein to Borrower.

     B. As a condition precedent to Agent and Lenders entering into the Credit Agreement, and
making Loans to the Borrower, Grantors are required to enter into this Security Agreement to secure
the payment and performance of each Grantor’s obligations, liabilities and indebtedness arising
under the Loan Documents to which each such Grantor is a party.

     NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and for
other good and valuable consideration, the receipt and sufficiency of which hereby are
acknowledged, the parties hereto hereby agree as follows:

     1. Defined Terms. All capitalized terms used but not defined herein have the meanings
given to them in the Credit Agreement or in Appendix A thereto. All other terms contained in this
Security Agreement, unless the context indicates otherwise, have the meanings provided for by the
UCC to the extent the same are used or defined therein. Whenever the context so requires, each
reference to gender includes the masculine and feminine, and the singular number includes the
plural and vice versa. The following capitalized terms shall have the following meanings for
purposes of this Security Agreement:

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          (a) “Account Debtor” means any Person who is obligated under an Account.

          (b) “Acknowledgement of IP Lien” means that certain Acknowledgement of Intellectual Property
Collateral Lien, dated as of the date hereof, by and among Borrower, the other Grantors party
thereto, and the Agent, as amended, supplemented or otherwise modified from time to time.

          (c) “Contractual Obligations” means, with respect to any Person, all of such Person’s
obligations of payment and performance under any agreement, instrument, document, permit, and
certificate, and all other undertakings of such Person.

          (d) “Copyright License” means, with respect to a Grantor, any and all rights now owned or
hereafter acquired by such Grantor under any written agreement granting any right to use any
Copyright or Copyright registration.

          (e) “Copyrights” means, with respect to a Grantor, all of the following now owned or hereafter
adopted or acquired by such Grantor: (i) all copyrights and General Intangibles of like nature
(whether registered or unregistered), all registrations and recordings thereof, and all
applications in connection therewith, including all registrations, recordings and applications in
the United States Copyright Office or in any similar office or agency of the United States, any
state or territory thereof, or any other country or any political subdivision thereof; and (ii) all
reissues, extensions or renewals thereof.

          (f) “Intellectual Property” means, with respect to a Grantor, all of such Grantor’s rights,
title and interest in and to all Copyrights, Patents, Trademarks and Licenses.

          (g) “Lender Parties” means, collectively, Agent and Lenders

          (h) “Licenses” means, with respect to a Grantor, any Copyright License, Patent License,
Trademark License or other license of rights or interests now held or hereafter acquired by such
Grantor.

          (i) “Patent License” means, with respect to a Grantor, rights under any written agreement now
owned or hereafter acquired by such Grantor granting any right with respect to any invention on
which a Patent is in existence.

          (j) “Patents” means, with respect to a Grantor, all of the following in which such Grantor now
holds or hereafter acquires any interest: (i) all letters patent of the United States or any other
country, all registrations and recordings thereof, and all applications for letters patent of the
United States or of any other country, including registrations, recordings and applications in the
United States Patent and Trademark Office or in any similar office or agency of the United States,
any State or any other country, and (ii) all reissues, continuations, continuations-in-part or
extensions thereof.

          (k) “Priority Permitted Liens” means Permitted Liens contemplated by and to the extent
permitted under Sections 7.3(b), (d) and/or (e) of the Credit Agreement.

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          (l) “Trademark License” means, with respect to a Grantor, rights under any written agreement
now owned or hereafter acquired by such Grantor granting any right to use any Trademark.

          (m) “Trademarks” means, with respect to a Grantor, all of the following now owned or hereafter
adopted or acquired by such Grantor: (i) all trademarks, trade names, corporate names, business
names, trade styles, service marks, logos, internet domain names, other source or business
identifiers, prints and labels on which any of the foregoing have appeared or appear, designs and
general intangibles of like nature (whether registered or unregistered), all registrations and
recordings thereof, and all applications (other than intent-to-use applications) in connection
therewith, including registrations, recordings and applications (other than intent-to-use
applications) in the United States Patent and Trademark Office or in any similar office or agency
of the United States, any state or territory thereof, or any other country or any political
subdivision thereof; (ii) all reissues, extensions or renewals thereof; and (iii) all goodwill
associated with or symbolized by any of the foregoing.

          (n) “UCC jurisdiction” means any jurisdiction that has adopted all or substantially all of
Article 9 as contained in the 2000 Official Text of the UCC, as recommended by the National
Conference of Commissioners on Uniform State Laws and the American Law Institute, together with any
subsequent amendments or modifications to the Official Text.

     2. Grant of Lien.

          (a) To secure the prompt and complete payment, performance and observance of all of the
Obligations and all renewals, extensions, restructurings and refinancings thereof, each Grantor
hereby grants, mortgages, pledges and hypothecates to Agent, for the benefit of the Lender Parties,
a Lien upon all of its right, title and interest in, to and under all personal property and other
assets, whether now owned by or owing to, or hereafter acquired by or arising in favor of such
Grantor (including under any trade names, styles or derivations thereof), and whether owned or
consigned by or to, or leased from or to, such Grantor, and regardless of where located (all of
which being hereinafter collectively referred to as the “Collateral”), including:

	 	(i)	 	all Accounts;
	 
	 	(ii)	 	all Chattel Paper;
	 
	 	(iii)	 	all Documents;
	 
	 	(iv)	 	all General Intangibles (including payment
intangibles and Software);
	 
	 	(v)	 	all Goods (including Inventory, Equipment and Fixtures);
	 
	 	(vi)	 	all Instruments;
	 
	 	(vii)	 	all Investment Property;

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	 	(viii)	 	all Deposit Accounts, including Blocked Accounts (as defined in
Section 6 below), Concentration Accounts (as defined in
Section 6 below), Designated Deposit Accounts (as defined in
Section 6 below) and all other bank accounts and all deposits
therein;
	 
	 	(ix)	 	all money, cash and cash equivalents;
	 
	 	(x)	 	all Supporting Obligations and Letter-of-Credit
Rights;
	 
	 	(xi)	 	the commercial tort claims described on
Schedule VI attached hereto; and
	 
	 	(xii)	 	all Proceeds, tort claims, insurance claims
and other rights to payment not otherwise included in the foregoing and
products of the foregoing and all accessions to, substitutions and
replacements for, and rents and profits of, each of the foregoing.

          (b) In addition, to secure the prompt and complete payment, performance and observance of the
Obligations and in order to induce Agent and Lenders as aforesaid, each Grantor hereby grants to
Agent, for the benefit of the Lender Parties, a right of setoff against the property of such
Grantor held by Agent or any Lender, consisting of property described above in Section 2(a)
now or hereafter in the possession or custody of or in transit to Agent or any Lender, for any
purpose, including safekeeping, collection or pledge, for the account of such Grantor, or as to
which such Grantor may have any right or power.

          (c) The foregoing notwithstanding, and with respect to the grant of Liens and security
interests hereunder only, the term “Collateral” shall not include the following “Excluded
Collateral”: each Grantor’s Equipment, Fixtures and General Intangibles, in each case subject to a
capital lease or other agreement (A) the terms of which expressly prohibit the granting of a lien
or an assignment with respect to such item and then only to the extent (i) any necessary consent
shall not have been obtained, and (ii) the terms of any such capital lease or other agreement are
not in contravention of Sections 9-406, 9-407 or 9-408 of the UCC, or (B) with respect to which the
granting of liens and security interests therein would otherwise result in a loss of rights therein
by operation of law. Each Grantor hereby represents and warrants to Agent and Lenders that (i) the
failure of Agent to receive a security interest in any of the Excluded Collateral shall not result
in Agent failing to have a priority security interest in a material portion of the assets and
Property of the Grantors, and (ii) the Excluded Collateral, when taken as a whole, is not material
to the operations, business, properties or condition of any Grantor.

          (d) The foregoing notwithstanding, the pledge of equity of any foreign Subsidiary of Borrower
shall be limited to sixty-six percent (66%) of the voting equity securities of any such foreign
Subsidiary, to the extent, in any such case, such guaranty or granting, or a pledge of additional
equity securities, would result in material and adverse tax consequences to Borrower under Section
956 of the Code as determined by Agent and the Requisite Lenders in their Permitted Discretion.

     3. Agent’s and Lenders’ Rights; Limitations on Agent’s and Lenders’ Obligations.

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          (a) It is expressly agreed by each Grantor that, anything herein or in any other Loan Document
to the contrary notwithstanding, such Grantor shall remain liable under each of its Contractual
Obligations, including all Permits, to observe and perform all the conditions and obligations to be
observed and performed by it thereunder. Neither Agent nor any Lender shall have any obligation
or liability under any Contractual Obligation by reason of or arising out of this Security
Agreement or any other Loan Document or the granting herein of a Lien thereon or the receipt by
Agent or any Lender of any payment relating to any Contractual Obligation pursuant hereto. Neither
Agent nor any Lender shall be required or obligated in any manner to perform or fulfill any of the
obligations of any Grantor under or pursuant to any Contractual Obligation, or to make any payment,
or to make any inquiry as to the nature or the sufficiency of any payment received by it or the
sufficiency of any performance by any party under any Contractual Obligation, or to present or file
any claims, or to take any action to collect or enforce any performance or the payment of any
amounts which may have been assigned to it or to which it may be entitled at any time or times.

          (b) At any time an Event of Default has occurred and is continuing, without prior notice to
any Grantor, Agent may notify Account Debtors and other Persons obligated on any of the Collateral
that Agent has a security interest therein, and that payments shall be made directly to Agent, for
the benefit of the Lender Parties, and upon the request of Agent after the occurrence and during
the continuance of an Event of Default, each Grantor shall so notify Account Debtors and other
Persons obligated on Collateral. Once any such notice has been given to any Account Debtor or
other Person obligated on Collateral, no Grantor shall give any contrary instructions to such
Account Debtor or other Person without Agent’s prior written consent.

          (c) Without prior notice to any Grantor, Agent may, in Agent’s own name, in the name of a
nominee of Agent or in the name of any Grantor, communicate (by mail, telephone, facsimile or
otherwise) with Account Debtors, parties to Contractual Obligations and obligors in respect of
Instruments to verify with such Persons, to Agent’s satisfaction, the existence, amount, terms of,
and any other matter relating to, Accounts, Instruments, Chattel Paper and/or payment intangibles.

     4. Representations and Warranties. Each Grantor represents and warrants to Agent and
the other Lender Parties that:

          (a) Such Grantor has rights in and the power to transfer each item of the Collateral upon
which it purports to grant a Lien hereunder free and clear of any and all Liens other than
Permitted Liens.

          (b) No effective security agreement, financing statement, equivalent security or Lien
instrument or continuation statement covering all or any part of the Collateral is on file or of
record in any public office, except such as may have been filed (i) by such Grantor in favor of
Agent pursuant to this Security Agreement or the other Loan Documents, and (ii) in connection with
any other Permitted Liens.

          (c) This Security Agreement is effective to create a valid and continuing Lien on and, upon
the filing of financing statements naming each Grantor as “debtor,” naming Agent

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as
“secured party” and describing the Collateral in the filing offices with respect to such
Grantor set forth on Schedule I hereto, a perfected Lien in favor of Agent, for the benefit
of the Lender Parties, on the Collateral with respect to which a Lien may be perfected by filing
pursuant to the UCC. Such Lien is prior to all other Liens, except Priority Permitted Liens, and
is enforceable as such against any and all creditors of and purchasers from such Grantor (other
than purchasers and lessees of Inventory in the ordinary course of business and non-exclusive
licensees of General Intangibles in the ordinary course of business). Except as set forth in
Sections 4(d), 4(f), and 4(g), all action by such Grantor necessary or reasonably
desirable to protect and perfect such Lien on each item of such Collateral has been duly taken.
Except as set forth in Sections 4(d) and 6(a), other than (i) filing of the necessary UCC financing
statements and (ii) an Acknowledgement of IP Lien with respect to federally registered patents,
trademarks and copyrights, no authorization, approval or consent is required to be obtained from
any Governmental Authority or other Person for the grant of the security interest herein, the
perfection thereof or the exercise by Agent of its rights and remedies hereunder.

          (d) Schedule II hereto lists all Capital Stock, Instruments, Documents, Letter of
Credit Rights and Chattel Paper in which such Grantor has an interest as of the date hereof. All
action by such Grantor necessary or desirable to protect and perfect the Lien of Agent on each item
set forth on Schedule II (including the delivery of all originals thereof to Agent as
required by Section 5(a) and the legending of all Chattel Paper as required by Section
5(b)) has been duly taken. The Lien of Agent, for the benefit of the Lender Parties, on the
Collateral listed on Schedule II hereto is prior to all other Liens, except Permitted Liens
that would be prior to the Liens in favor of Agent as a matter of law, and is enforceable as such
against any and all creditors of and purchasers from such Grantor.

          (e) Such Grantor’s name as it appears in official filings in the state of its incorporation or
organization, all prior names of such Grantor during the past five (5) years, as they appeared from
time to time in official filings in the state of its incorporation or organization, the type of
entity of such Grantor (including corporation, partnership, limited partnership or limited
liability company), organizational identification number issued by such Grantor’s state of
incorporation or organization or a statement that no such number has been issued, such Grantor’s
state of organization or incorporation, the location of such Grantor’s chief executive office,
principal place of business, other offices, all warehouses, consignees and processors with whom
Inventory or other Collateral is stored or located and other premises where Collateral and Excluded
Collateral is stored or located, and the locations of its books and records concerning the
Collateral and Excluded Collateral are set forth on Schedule III hereto. Schedule
III hereto also sets forth the name as it appears in official filings in the state of its
incorporation or organization of any Person from whom such Grantor has acquired assets during the
past five (5) years, other than assets acquired in the ordinary course of such selling Person’s
business, a description of all mergers that such Grantor has been a party to during the past five
(5) years, and a list of all prior locations of such Grantor during the past five (5) years. Such
Grantor has only one state of incorporation or organization.

          (f) All motor vehicles owned by such Grantor as of the date hereof are listed on Schedule
IV hereto, by model, model year and vehicle identification number, and, if requested by Agent
with respect to any motor vehicle that is not subject to a Permitted Lien, each Grantor shall
deliver to Agent motor vehicle title certificates for all such motor vehicles from

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time to time owned by such Grantor and shall cause such title certificates to be filed (with Agent’s
Lien noted thereon) in the appropriate state motor vehicle filing offices.

          (g) As of the Closing Date, such Grantor does not have any interest in, or title to, any
Patent, Trademark or Copyright except as set forth in Schedule 5.11 of the Credit
Agreement. This Security Agreement is effective to create a valid and continuing Lien on and, upon
filing of the financing statements naming each Grantor as “debtor,” naming Agent as “secured party”
and describing the Collateral in the filing offices with respect to such Grantor set forth on
Schedule I hereto and the Acknowledgment of IP Lien with the United States Copyright Office
and the United States Patent and Trademark Office, perfected Liens in favor of Agent on such
Grantor’s federally registered Patents, Trademarks and Copyrights, and such perfected Liens are
enforceable as such as against any and all creditors of and purchasers from such Grantor. As of
the date hereof, upon filing of the Acknowledgement of IP Lien with the United States Copyright
Office and the United States Patent and Trademark Office and the filing of appropriate financing
statements in the filing offices set forth on Schedule I hereto, all action necessary or
reasonably desirable to protect and perfect Agent’s Lien on such Grantor’s federally registered
Patents, Trademarks or Copyrights, as applicable, shall have been, or promptly after the Closing
Date will be, duly taken.

     5. Covenants. Without limiting each Grantor’s covenants and agreements contained in
the Credit Agreement and the other Loan Documents, each Grantor covenants and agrees with Agent,
for the benefit of the Lender Parties, that:

          (a) Further Assurances; Pledge of Instruments; Chattel Paper.

               (i) At any time and from time to time, upon the written request of Agent and at the sole
expense of such Grantor, such Grantor shall promptly and duly execute and deliver any and all such
further instruments and documents and take such further actions as Agent may deem necessary or
reasonably desirable to obtain the full benefits of this Security Agreement and of the rights and
powers herein granted, including using commercially reasonable efforts to secure all consents and
approvals necessary or appropriate for the assignment to or for the benefit of Agent of any
Contractual Obligation, including any Permit, held by such Grantor and to enforce the security
interests granted hereunder.

               (ii) Upon request by Agent, such Grantor shall deliver to Agent all Collateral consisting of
negotiable Documents, certificated Capital Stock, Chattel Paper and Instruments (other than checks
received and deposited by such Grantor for collection in the ordinary course of business), in each
case, accompanied by stock powers, allonges or other instruments of transfer executed in blank,
promptly after such Grantor receives the same; provided, that so long as no Event of
Default shall have occurred and be continuing, promptly upon such Grantor’s request, Agent shall
make available to such Grantor, for purposes of presentation, collection and renewal (any such
arrangement to be effected, to the extent deemed appropriate by Agent, against trust receipt or
like document), any Instruments, negotiable Documents and Chattel Paper previously pledged and
delivered to Agent by such Grantor.

               (iii) Such Grantor shall, upon the request of Agent, (x) obtain waivers or subordinations of
Liens from landlords, bailees and mortgagees, and (y) obtain signed

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acknowledgements of Agent’s Liens from bailees having possession of such Grantor’s Goods that
they hold for the benefit of Agent.

               (iv) Upon request by Agent, such Grantor shall obtain authenticated letters of control from
each issuer of uncertificated securities, securities intermediary, or commodities intermediary
issuing or holding any financial assets or commodities to or for such Grantor.

               (v) As required by this Security Agreement, such Grantor shall obtain an Account Control
Agreement with each bank or financial institution holding a Deposit Account for such Grantor.

               (vi) If such Grantor is or becomes the beneficiary of a letter of credit, upon Agent’s
request, enter into a tri-party agreement with Agent and the issuer and/or confirmation bank with
respect to Letter-of-Credit Rights assigning such Letter-of-Credit Rights to Agent and directing
all payments thereunder to a Deposit Account subject to an Account Control Agreement, all in form
and substance satisfactory to Agent.

               (vii) Such Grantor shall take all steps reasonably necessary to grant Agent control of all
electronic Chattel Paper in accordance with the UCC and all “transferable records,” as defined in
each of the Uniform Electronic Transactions Act and the Electronic Signatures in Global and
National Commerce Act.

               (viii) Such Grantor hereby irrevocably authorizes Agent at any time and from time to time to
file in any filing office in any UCC jurisdiction any initial financing statements and amendments
thereto that (a) indicate the Collateral (i) as all assets of such Grantor or words of similar
effect, regardless of whether any particular asset comprised in the Collateral falls within the
scope of Article 9 of the UCC or such jurisdiction, or (ii) as being of an equal or lesser scope or
with greater detail, and (b) contain any other information required by part 5 of Article 9 of the
UCC for the sufficiency or filing office acceptance of any financing statement or amendment,
including (i) whether such Grantor is an organization, the type of organization and any
organization identification number issued to such Grantor, and (ii) in the case of a financing
statement filed as a fixture filing or indicating Collateral as as-extracted collateral or timber
to be cut, a sufficient description of real property to which the Collateral relates. Such Grantor
agrees to furnish any such information to the Agent promptly upon Agent’s request.

               (ix) Such Grantor shall enter into a supplement to this Security Agreement, granting to Agent
a Lien in any commercial tort claim acquired by it after the date hereof.

          (b) Maintenance of Records. Such Grantor shall keep and maintain, at its own cost and
expense, accurate and complete records of the Collateral and Excluded Collateral, including a
record of any and all payments received and any and all credits granted with respect to the
Collateral and Excluded Collateral and all other dealings with the Collateral and Excluded
Collateral. Such Grantor shall mark its books and records pertaining to the Collateral to evidence
this Security Agreement and the Liens granted hereby. If such Grantor retains

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possession of any
Chattel Paper or Instruments (other than checks received and deposited by such Grantor for
collection in the ordinary course of business) with Agent’s consent, such Chattel Paper and
Instruments shall be marked with the following legend: “This writing and the
obligations evidenced or secured hereby are subject to the security interest of CapitalSource
Finance LLC, as Agent, for the benefit of certain Lenders.”

          (c) Covenants Regarding Patent, Trademark and Copyright Collateral.

               (i) Promptly upon receipt, Grantor shall give the Secured Party copies of all registration and
filings with respect to its Intellectual Property. In no event shall such Grantor, either directly
or through any agent, employee, licensee or designee, file an application for the registration of
any Patent, Trademark or Copyright with the United States Patent and Trademark Office, the United
States Copyright Office or any similar office or agency without giving Agent prior written notice
thereof, and, upon request of Agent, such Grantor shall execute and deliver any and all patent
security agreements, copyright security agreements or trademark security agreements as Agent may
request to evidence Agent’s Lien on such Patent, Trademark or Copyright, and the General
Intangibles of such Grantor relating thereto or represented thereby.

               (ii) Such Grantor shall take all actions necessary or reasonably requested by Agent to
maintain and pursue (and not abandon) each application, to obtain the relevant registration and to
maintain the registration of each Patent, Trademark and Copyright (now or hereafter existing),
including the filing of applications for renewal, affidavits of use, affidavits of
noncontestability and opposition and interference and cancellation proceedings, unless such Grantor
shall determine in its good faith business judgment that such Patent, Trademark or Copyright is not
material to the conduct of its business.

               (iii) In the event that any of the Patent, Trademark or Copyright Collateral is infringed
upon, or misappropriated or diluted by a third party, such Grantor shall notify Agent thereof and
shall provide such instruments, amended schedules, or other documents that the Agent may request,
granting to Agent a Lien in the resulting commercial tort claim. Such Grantor shall, unless it
shall determine in its good faith business judgment that such Patent, Trademark or Copyright
Collateral is in no way material to the conduct of its business or operations, promptly sue for
infringement, misappropriation or dilution and to recover any and all damages for such
infringement, misappropriation or dilution, and shall take such other reasonable actions as Agent
shall deem appropriate under the circumstances to protect such Patent, Trademark or Copyright
Collateral. Such Grantor shall take all commercially reasonable steps necessary to defend itself
against any Person accusing it of infringing any Person’s Intellectual Property.

          (d) Compliance with Terms of Accounts, etc. Such Grantor will perform and comply in
all material respects with all obligations in respect of the Collateral and Excluded Collateral and
all other agreements to which it is a party or by which it is bound relating to the Collateral and
Excluded Collateral.

          (e) Further Identification of Collateral and Excluded Collateral. Such Grantor will,
if requested by Agent, furnish to Agent, as often as Agent reasonably requests, statements and
schedules further identifying and describing the Collateral and Excluded Collateral and such

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other
reports in connection with the Collateral and Excluded Collateral as Agent reasonably may request,
all in such detail as Agent may specify. Such Grantor shall promptly notify Agent in writing upon
acquiring any interest hereafter in property that is of a type where a security interest
or lien must be or may be registered, recorded or filed under, or notice thereof given under,
any federal statute or regulation.

          (f) Terminations; Amendments Not Authorized. Such Grantor acknowledges that it is not
authorized to file any financing statement or amendment or termination statement with respect to
any financing statement filed in favor of Agent without the prior written consent of Agent and
agrees that it will not do so without the prior written consent of Agent, subject to such Grantor’s
rights under Section 9-509(d)(2) of the UCC.

          (g) Use of Collateral. Such Grantor will do nothing to impair the rights of Agent in
any of the Collateral. Except as provided in the Credit Agreement, such Grantor will not adjust,
settle or compromise the amount or payment of any Account, or release wholly or partly any Account
Debtor thereof or allow any credit or discount thereon (other than credits and discounts in the
ordinary course of business).

          (h) Federal Claims. Such Grantor shall take such steps as may be necessary to comply
with any applicable federal or state assignment of claims laws or other comparable laws if any
Collateral constitutes a claim against the United States government, any state government or any
instrumentality or agent thereof, the assignment of which is restricted by federal or state law.

     6. Bank Accounts; Collection of Accounts; Payments.

          (a) Upon the request by Agent, Agent and each Grantor shall enter into an Account Control
Agreement with each financial institution at which such Grantor maintains any Deposit Account,
including, without limitation, the respective Deposit Accounts set forth on Schedule V
hereto (each such Deposit Account, and any other Deposit Account which from time to time hereafter
shall be subject to an Account Control Agreement is herein referred to as a “Designated Deposit
Account”). Each Account Control Agreement shall provide (unless otherwise agreed to by the parties
thereto), among other things, that (i) all items of payment deposited in each Designated Deposit
Account subject thereto shall be held by the applicable financial institution (each financial
institution party to an Account Control Agreement is herein referred to as a “Designated Depositary
Account Bank”), as agent or bailee-in-possession for Agent, on behalf of the Lender Parties, (ii)
the Designated Depositary Account Bank executing such Account Control Agreement has no rights of
offset or recoupment of any other claim against any Designated Deposit Account subject thereto,
other than for customary payment of its services and other charges directly related to the
administration of each such Designated Deposit Account and for returned checks or other returned
items of payment, and (iii) solely to the extent permitted by the immediately following sentence,
the applicable Designated Depositary Account Bank will transfer all amounts held or deposited from
time to time in any such Designated Deposit Account as Agent may so direct in a written notice of
sole control. With respect to Designated Deposit Accounts that are not used for collections (e.g.,
disbursement only deposit accounts), Agent agrees that (x) it will not deliver a notice of sole
control to a Designated Depositary Account Bank as contemplated by the pertinent Account Control
Agreement until

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such time as an Event of Default has occurred and is continuing, and (y) upon the
waiver of any such Event of Default by Agent or Requisite Lenders, as the case may be, Agent will
withdraw in writing any such notice of sole control previously delivered to a Designated Depositary
Account Bank and take such other action as may be reasonably necessary to restore such
Grantor’s right to access the pertinent Designated Deposit Account. Each Grantor hereby grants to
Agent, for the benefit of the Lender Parties, a continuing lien upon, and security interest in, all
Designated Deposit Accounts now or at any time hereafter established and/or maintained by such
Grantor and all funds at any time paid, deposited, credited or held in such accounts (whether for
collection, provisionally or otherwise) or otherwise in the possession of any Designated Depositary
Account Bank for deposit into a Designated Deposit Account, and such Grantor acknowledges and
agrees that each Designated Depositary Account Bank shall act as Agent’s agent in connection
therewith as may be required pursuant to the pertinent Account Control Agreement. No Grantor shall
establish any Deposit Account with any financial institution unless, prior to such establishment,
Agent, the applicable Grantor and such financial institution shall have entered into an Account
Control Agreement.

          (b) Each Grantor shall establish lockbox or blocked accounts (collectively, “Blocked
Accounts”) in such Grantor’s name with such banks as are reasonably acceptable to Agent
(“Collecting Banks”), subject to an Account Control Agreement pursuant to which all Account Debtors
shall directly remit all payments on Accounts and in which such Grantor will immediately deposit
all cash payments for Inventory or other cash payments constituting proceeds of Collateral and
Excluded Collateral, in the identical form in which such payment was made, whether by cash or
check. In addition, Agent, for the benefit of the Lender Parties, may establish one or more
depository accounts at each Collecting Bank or at a centrally located bank in the name of Agent or
such Grantor as customer (collectively, the “Concentration Accounts”). All amounts held or
deposited from time to time in the Blocked Accounts held by such Collecting Bank shall be
transferred on a daily basis to Agent (as Agent may direct) or any of the Concentration Accounts.
Subject to the foregoing, each Grantor hereby agrees that all payments received by Agent or any
Lender whether by cash, check, wire transfer or any other instrument, made to such Blocked Accounts
or Concentration Accounts or otherwise received by Agent or any Lender and whether on the Accounts
or as proceeds of other Collateral or otherwise will be subject to a valid and perfected first
priority security interest in favor of Agent, for the benefit of the Lender Parties. Each Grantor,
and any of its Affiliates, employees, agents and other Persons acting for or in concert with such
Grantor shall, acting as trustee for Agent and Lenders, receive any moneys, checks, notes, drafts
or other payments relating to and/or constituting proceeds of Accounts or other Collateral or
Excluded Collateral which come into the possession or under the control of such Grantor or any
Affiliates, employees, agents, or other Persons acting for or in concert with such Grantor, and
immediately upon receipt thereof, such Grantor or such Persons shall deposit the same or cause the
same to be deposited in kind, in a Blocked Account or other account subject to an Account Control
Agreement.

          (c) If at any time a Collecting Bank is obligated to transfer to Agent or any Concentration
Account all amounts held or deposited in the Blocked Accounts held by such Collecting Bank, no
Grantor shall nor shall any such Grantor permit any Subsidiary to, accumulate or maintain cash in
any disbursement or payroll account, as of any date, in an amount

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in excess of checks outstanding
against such account as of such date and amounts necessary to meet minimum balance requirements.

          (d) Each Grantor shall close any of its Designated Deposit Accounts (and promptly establish
replacement Designated Deposit Accounts with a Designated Depositary Account
Bank) maintained with a Designated Depositary Account Bank which is the subject of a written
notice from Agent that the creditworthiness of such Designated Depositary Account Bank or any of
its affiliates is no longer reasonably acceptable to Agent, or that the operating performance,
funds transfer or availability procedures or performance with respect to any Account Control
Agreement of such Designated Depositary Account Bank is no longer acceptable in Agent’s reasonable
judgment.

     7. Agent’s Appointment as Attorney-In-Fact.

     On the Closing Date each Grantor shall execute and deliver to Agent a power of attorney (the
“Power of Attorney”) substantially in the form attached hereto as Exhibit A. The power of
attorney granted pursuant to the Power of Attorney is a power coupled with an interest and shall be
irrevocable. The powers conferred on Agent, for the benefit of the Lender Parties, under the Power
of Attorney are solely to protect Agent’s interests (for the benefit of the Lender Parties) in the
Collateral and the Excluded Collateral, and shall not impose any duty upon Agent or any Lender to
exercise any such powers. NONE OF AGENT, LENDERS OR THEIR RESPECTIVE AFFILIATES, OFFICERS,
DIRECTORS, EMPLOYEES, AGENTS OR REPRESENTATIVES SHALL BE RESPONSIBLE TO ANY GRANTOR FOR ANY ACT OR
FAILURE TO ACT UNDER ANY POWER OF ATTORNEY OR OTHERWISE, EXCEPT IN RESPECT OF DAMAGES ATTRIBUTABLE
SOLELY TO THEIR OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT AS FINALLY DETERMINED BY A COURT OF
COMPETENT JURISDICTION, NOR FOR ANY PUNITIVE, EXEMPLARY, INDIRECT OR CONSEQUENTIAL DAMAGES.

     8. Remedies; Rights Upon Default.

          (a) In addition to all other rights and remedies granted under this Security Agreement, the
Credit Agreement, the other Loan Documents and under any other instrument or agreement securing,
evidencing or relating to any of the Obligations, if any Event of Default shall have occurred and
be continuing, Agent may exercise all rights and remedies of a secured party under the UCC.
Without limiting the generality of the foregoing, each Grantor expressly agrees that in any such
event Agent, without demand of performance or other demand, advertisement or notice of any kind
(except the notice specified below of time and place of public or private sale) to or upon such
Grantor or any other Person (all and each of which demands, advertisements and notices are hereby
expressly waived to the maximum extent permitted by the UCC and other applicable law), may
forthwith (personally or through its agents or attorneys) enter upon the premises where any
Collateral or Excluded Collateral is located, without any obligation to pay rent, through
self-help, without judicial process, without first obtaining a final judgment or giving such
Grantor or any other Person notice and opportunity for a hearing on Agent’s claim or action and may
take possession of, collect, receive, assemble, process, appropriate, remove and realize upon the
Collateral, or any part thereof, and may forthwith sell, lease, license, assign, give an option or
options to purchase, or otherwise dispose

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of and deliver said Collateral (or contract to do so), or
any part thereof, in one or more parcels at a public or private sale or sales, at any exchange at
such prices as it may deem acceptable, for cash or on credit or for future delivery without
assumption of any credit risk. To facilitate the foregoing, Agent shall have the right to take
possession of each Grantor’s original books and records, to obtain access to each Grantor’s data
processing equipment, computer hardware and
Software and to use all of the foregoing and the information contained therein in any manner
which Agent deems appropriate. Agent or any Lender shall have the right upon any such public sale
or sales and, to the extent permitted by law, upon any such private sale or sales, to purchase for
the benefit of Agent and Lenders, the whole or any part of said Collateral so sold, free of any
right or equity of redemption, which equity of redemption each Grantor hereby releases. Such sales
may be adjourned and continued from time to time with or without notice. Agent shall have the
right to conduct such sales on each Grantor’s premises or elsewhere and shall have the right to use
such Grantor’s premises without charge for such time or times as Agent deems necessary or
advisable.

     If any Event of Default shall have occurred and be continuing, each Grantor further agrees, at
Agent’s request, to assemble the Collateral and make it available to Agent at a place or places
designated by Agent which are reasonably convenient to Agent and such Grantor, whether at such
Grantor’s premises or elsewhere. Without limiting the foregoing, Agent shall also have the right
to require that each Grantor store and keep any Collateral pending further action by Agent, and
while Collateral is so stored or kept, provide such guards and maintenance services as shall be
necessary to protect the same and to preserve and maintain the Collateral in good condition. Until
Agent is able to effect a sale, lease, license or other disposition of Collateral, Agent shall have
the right to hold or use Collateral, or any part thereof, to the extent that it deems appropriate
for the purpose of preserving Collateral or its value or for any other purpose deemed appropriate
by Agent. Agent shall have no obligation to any Grantor to maintain or preserve the rights of any
Grantor as against third parties with respect to Collateral while Collateral is in the possession
of Agent. Agent may, if it so elects, seek the appointment of a receiver or keeper to take
possession of Collateral and to enforce any of Agent’s remedies (for the benefit of the Lender
Parties), with respect to such appointment without prior notice or hearing as to such appointment.
Agent shall apply the net proceeds of any sale, lease, license, other disposition of, or any
collection, recovery, receipt, or realization on, the Collateral to the Obligations as provided in
the Credit Agreement, and only after so paying over such net proceeds, and after the payment by
Agent of any other amount required by any provision of law, need Agent account for the surplus, if
any, to such Grantor. To the maximum extent permitted by applicable law, each Grantor waives all
claims, damages, and demands against Agent or any Lender arising out of the repossession, retention
or sale of the Collateral or Excluded Collateral except such as arise solely out of the gross
negligence or willful misconduct of Agent or such Lender as finally determined by a court of
competent jurisdiction. Each Grantor agrees that ten (10) days prior notice by Agent of the time
and place of any public sale or of the time after which a private sale may take place is reasonable
notification of such matters (provided that no such notice shall be required for Collateral that
(i) is perishable, (ii) threatens to decline speedily in value, or (iii) is of a type customarily
sold on a recognized market). Notwithstanding any such notice of sale, Agent shall not be
obligated to make any sale of Collateral. In connection with any sale, lease, license or other
disposition of Collateral, Agent may disclaim any warranties that might arise in connection
therewith and Agent shall have no obligation to provide any warranties at such time. Each

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Grantor
shall remain liable for any deficiency if the proceeds of any sale or disposition of the Collateral
are insufficient to pay all Obligations, including any attorneys’ fees or other expenses incurred
by Agent or any Lender to collect such deficiency.

          (b) Except as otherwise specifically provided herein, each Grantor hereby waives presentment,
demand, protest or any notice (to the maximum extent permitted by applicable law) of any kind in
connection with this Security Agreement or any Collateral.

          (c) To the extent that applicable law imposes duties on Agent to exercise remedies in a
commercially reasonable manner, each Grantor acknowledges and agrees that it is not commercially
unreasonable for Agent (i) to fail to incur expenses deemed significant by Agent to prepare
Collateral for disposition or otherwise to complete raw material or work in process into finished
goods or other finished products for disposition, (ii) to fail to obtain third party consents for
access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to
obtain governmental or third party consents for the collection or disposition of Collateral to be
collected or disposed of, (iii) to fail to exercise collection remedies against Account Debtors or
other Persons obligated on Collateral or to remove Liens on or any adverse claims against
Collateral, (iv) to exercise collection remedies against Account Debtors and other Persons
obligated on Collateral directly or through the use of collection agencies and other collection
specialists, (v) to advertise dispositions of Collateral through publications or media of general
circulation, whether or not the Collateral is of a specialized nature, (vi) to contact other
Persons, whether or not in the same business as such Grantor, for expressions of interest in
acquiring all or any portion of such Collateral, (vii) to hire one or more professional auctioneers
to assist in the disposition of Collateral, whether or not the Collateral is of a specialized
nature, (viii) to dispose of Collateral by utilizing internet sites that provide for the auction of
assets of the types included in the Collateral or that have the reasonable capacity of doing so, or
that match buyers and sellers of assets, (ix) to dispose of assets in wholesale rather than retail
markets, (x) to disclaim disposition warranties, such as title, possession or quiet enjoyment, (xi)
to purchase insurance or credit enhancements to insure Agent against risks of loss, collection or
disposition of Collateral or Excluded Collateral or to provide to Agent a guaranteed return from
the collection or disposition of Collateral, or (xii) to the extent deemed appropriate by Agent, to
obtain the services of other brokers, investment bankers, consultants and other professionals to
assist Agent in the collection or disposition of any of the Collateral. Each Grantor acknowledges
that the purpose of this Section 8(c) is to provide non-exhaustive indications of what
actions or omissions by Agent would not be commercially unreasonable in Agent’s exercise of
remedies against the Collateral and that other actions or omissions by Agent shall not be deemed
commercially unreasonable solely on account of not being indicated in this Section 8(c).
Without limitation upon the foregoing, nothing contained in this Section 8(c) shall be
construed to grant any rights to any Grantor or to impose any duties on Agent that would not have
been granted or imposed by this Security Agreement or by applicable law in the absence of this
Section 8(c).

          (d) Neither Agent nor any Lender shall be required to make any demand upon, or pursue or
exhaust any of their rights or remedies against, any Grantor, any other obligor, guarantor, pledgor
or any other Person with respect to the payment of the Obligations or to pursue or exhaust any of
their rights or remedies with respect to any Collateral therefor or any direct or indirect
guarantee thereof. Neither Agent nor any Lender shall be required to marshal

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the Collateral or any
guarantee of the Obligations or to resort to the Collateral or any such guarantee in any particular
order, and all of its and their rights hereunder or under any other Loan Document shall be
cumulative. To the extent it may lawfully do so, each Grantor absolutely and
irrevocably waives and relinquishes the benefit and advantage of, and covenants not to assert
against Agent or any Lender, any valuation, stay, appraisement, extension, redemption or similar
laws and any and all rights or defenses (other than indefeasible payment) it may have as a surety
now or hereafter existing which, but for this provision, might be applicable to the sale of any
Collateral made under the judgment, order or decree of any court, or privately under the power of
sale conferred by this Security Agreement, or otherwise.

     9. Grant of License to Use Property. For the purpose of enabling Agent to exercise
rights and remedies under Section 8 hereof (including, without limiting the terms of
Section 8 hereof, in order to take possession of, collect, receive, assemble, process,
appropriate, remove, realize upon, sell, lease, license, assign, give an option or options to
purchase or otherwise dispose of Collateral) at such time as Agent shall be lawfully entitled to
exercise such rights and remedies after the occurrence and during the continuance of an Event of
Default, each Grantor hereby grants to Agent, for the benefit of the Lender Parties, an
irrevocable, nonexclusive license (exercisable without payment of royalty or other compensation to
such Grantor) to use, license or sublicense any Intellectual Property now owned or hereafter
acquired by such Grantor, and wherever the same may be located, and including in such license
access to all media in which any of the licensed items may be recorded or stored and to all
Software and programs used for the compilation or printout thereof and an irrevocable license
(exercisable without payment of rent or other compensation to such Grantor) to use and occupy all
real estate owned or leased by such Grantor.

     10. Limitation on Agent’s and Lenders’ Duty in Respect of Collateral. Agent and each
Lender shall use reasonable care with respect to the Collateral and Excluded Collateral, if any, in
its possession or under its control. Neither Agent nor any Lender shall have any other duty as to
any Collateral or Excluded Collateral in its possession or control or in the possession or control
of any agent or nominee of Agent or such Lender, or any income thereon or as to the preservation of
rights against prior parties or any other rights pertaining thereto. Agent shall be deemed to have
exercised reasonable care in the custody and preservation of any Collateral or Excluded Collateral
in its possession if such Collateral and Excluded Collateral is accorded treatment substantially
equal to that which it accords its own property. Agent shall not be liable or responsible for any
loss or damage to any of the Collateral or Excluded Collateral, or for any diminution in the value
thereof, by reason of the act or omission of any warehousemen, carrier, forwarding agency,
consignee or other agent or bailee selected by Agent in good faith.

     11. Reinstatement. This Security Agreement shall remain in full force and effect and
continue to be effective should any petition be filed by or against any Grantor for liquidation or
reorganization, should any Grantor become insolvent or make an assignment for the benefit of any
creditor or creditors or should a receiver or trustee be appointed for all or any significant part
of any Grantor’s assets, and shall continue to be effective or be reinstated, as the case may be,
if at any time payment and performance of the Obligations, or any part thereof, is, pursuant to
applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any
obligee of the Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or
otherwise, all as though such payment or performance had not been made. In the event that any

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payment, or any part thereof, is rescinded, reduced, restored or returned, the Obligations shall be
reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or
returned.

     12. Expenses and Attorneys Fees. Without limiting each Grantor’s obligations under
the Credit Agreement or the other Loan Documents, each Grantor jointly and severally agrees to
promptly pay all (to the extent required by the Credit Agreement) fees, costs and expenses
(including reasonable attorneys’ fees and expenses and allocated costs of internal legal staff)
incurred in connection with (a) protecting, storing, warehousing, appraising, insuring, handling,
maintaining and shipping the Collateral, (b) creating, perfecting, maintaining and enforcing
Agent’s Liens and (c) collecting, enforcing, retaking, holding, preparing for disposition,
processing and disposing of Collateral.

     13. Notices. Except as otherwise provided herein, whenever it is provided herein that
any notice, demand, request, consent, approval, declaration or other communication shall or may be
given to or served upon any of the parties by any other party, or whenever any of the parties
desires to give and serve upon any other party any communication with respect to this Security
Agreement, each such notice, demand, request, consent, approval, declaration or other communication
shall be in writing and shall be given in the manner, and deemed received, as provided for in the
Credit Agreement.

     14. Limitation by Law. All rights, remedies and powers provided in this Security
Agreement may be exercised only to the extent that the exercise thereof does not violate any
applicable provision of law, and all the provisions of this Security Agreement are intended to be
subject to all applicable mandatory provisions of law that may be controlling and to be limited to
the extent necessary so that they shall not render this Security Agreement invalid, unenforceable,
in whole or in part, or not entitled to be recorded, registered or filed under the provisions of
any applicable law.

     15. Termination of this Security Agreement. Subject to Section 11 hereof,
this Security Agreement shall remain in full force and effect until payment in full in cash and
performance of all of the Obligations, termination of the Commitments and all outstanding Letters
of Credit and a release of all claims against Agent and the other Lender Parties, and so long as no
suits, actions, proceedings, or claims are pending or threatened against any Indemnitee asserting
any damages, losses or liabilities are indemnified liabilities hereunder or under the Credit
Agreement, whereupon this Security Agreement shall terminate without further action on the part of
any Person.

     16. Successors and Assigns. This Security Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns except that no
Grantor may assign its rights or obligations hereunder without the written consent of all Lenders.
No sales of participations, other sales, assignments, transfers or other dispositions of any
agreement governing or instrument evidencing the Obligations or any portion thereof or interest
therein shall in any manner impair the Lien granted to Agent, for the benefit of the Lender
Parties, hereunder.

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     17. Counterparts. This Security Agreement and any amendments, waivers, consents or
supplements may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed and delivered shall be deemed an original,
but all of which counterparts taken together shall constitute but one in the same instrument. This
Security Agreement shall become effective upon the execution of a counterpart
hereof by each of the parties hereto. This Security Agreement may be authenticated by manual
signature, facsimile or, if approved in writing by Agent, electronic means, all of which shall be
equally valid.

     18. Applicable Law. THIS SECURITY AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICTS OF LAW PRINCIPLES THAT RESULT IN THE APPLICATION OF THE LAWS OF A DIFFERENT
JURISDICTION.

     19. Headings. Section headings are included herein for convenience of reference only
and shall not constitute a part of this Security Agreement for any other purposes or be given
substantive effect.

     20. Benefit of the Lender Parties. All Liens granted or contemplated hereby shall be
for the benefit of Agent, individually, and the other Lender Parties, and all proceeds or payments
realized from Collateral in accordance herewith shall be applied to the Obligations in accordance
with the terms of the Credit Agreement.

     21. Conflict. In the event of any conflict between any term, covenant or condition of
this Security Agreement and any term, covenant or condition of the Credit Agreement, the provisions
of the Credit Agreement shall control and govern.

     22. Joint and Several. The obligations, covenants and agreements of Grantors
hereunder shall be the joint and several obligations, covenants and agreements of each Grantor.

[Remainder of page intentionally left blank; signature pages follow]

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     IN WITNESS WHEREOF, each of the parties hereto has caused this Security Agreement to be
executed and delivered by its duly authorized officer as of the date first set forth above.

GRANTORS:

GLOBAL EMPLOYMENT SOLUTIONS,

a Colorado corporation

GLOBAL EMPLOYMENT HOLDINGS, INC.,

a Delaware corporation

	 	 	 	 	 
	 

	 	By:	 	/s/ Howard Brill
	 

	 	 	 	 
	 

	 	Name:
	 	Howard Brill
	 

	 	Title:
	 	Chief Executive Officer and President
	 
	 	 	 	 
	 	 	[signatures continue on next page]

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TEMPORARY PLACEMENT SERVICE, INC.,

a Georgia corporation

SOUTHEASTERN PERSONNEL MANAGEMENT, INC.,

a Florida corporation

MAIN LINE PERSONNEL SERVICES, INC.,

a Pennsylvania corporation

FRIENDLY ADVANCED SOFTWARE TECHNOLOGY, INC.,

a New York corporation

EXCELL PERSONNEL SERVICES CORPORATION,

an Illinois corporation

SOUTHEASTERN STAFFING, INC.,

a Florida corporation

BAY HR, INC.,

a Florida corporation

SOUTHEASTERN GEORGIA HR, INC.,

a Georgia corporation

SOUTHEASTERN STAFFING II, INC.,

a Florida corporation

SOUTHEASTERN STAFFING III, INC.,

a Florida corporation

SOUTHEASTERN STAFFING IV, INC.,

a Florida corporation

SOUTHEASTERN STAFFING V, INC.,

a Florida corporation

SOUTHEASTERN STAFFING VI, INC.,

a Florida corporation

	 	 	 	 	 
	 

	 	By:	 	/s/ Howard Brill
	 

	 	 	 	 
	 

	 	Name:
	 	Howard Brill
	 

	 	Title:
	 	Executive Vice President
	 
	 	 	 	 
	 	 	KEYSTONE ALLIANCE, INC.,

a Florida corporation
	 
	 	 	 	 
	 

	 	By:	 	/s/ Howard Brill
	 

	 	 	 	 
	 

	 	Name:
	 	Howard Brill
	 

	 	Title:
	 	President
	 
	 	 	 	 
	 	 	[signatures continue on next page]

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	 	 	AGENT:
	 
	 	 	 	 
	 	 	CAPITALSOURCE FINANCE LLC, as Agent
	 
	 	 	 	 
	 

	 	By:	 	/s/ Albert Rocha
	 

	 	 	 	 
	 

	 	Name:	 	Albert Rocha
	 

	 	 	 	 
	 

	 	Title:	 	Senior Counsel
	 

	 	 	 	 

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SCHEDULE I

to

SECURITY AGREEMENT

Filing Jurisdictions

The office of the Secretary of State of the State of Colorado

     Global Employment Solutions, Inc.

The office of the Secretary of State of the State of Delaware

     Global Employment Holdings, Inc.

The Florida Secured Transaction Registry of the State of Florida

     Bay HR, Inc.

     Keystone Alliance, Inc.

     Southeastern Personnel Management, Inc.

     Southeastern Staffing, Inc.

     Southeastern Staffing II, Inc.

     Southeastern Staffing III, Inc.

     Southeastern Staffing IV, Inc.

     Southeastern Staffing V, Inc.

     Southeastern Staffing VI, Inc.

The office of the clerk of the superior court of any county of the State of Georgia

     Southeastern Georgia HR, Inc.

     Temporary Placement Service, Inc.

The office of the Secretary of State of the State of Illinois

     Excell Personnel Services Corporation

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The office of the Secretary of State of the State of New York

     Friendly Advanced Software Technology, Inc.

The office of the Secretary of the Commonwealth of the Commonwealth of Pennsylvania

     Main Line Personnel Services, Inc.

Security Agreement

CapitalSource—Global Employment

 

 

SCHEDULE II

to

SECURITY AGREEMENT

Capital Stock, Instruments, Documents, Chattel Paper

and Letter of Credit Rights

	1)	 	Global Employment Holdings, Inc.

	 	a)	 	Capital Stock

	 	i)	 	100 shares of common stock of Keystone Alliance, Inc.
	 
	 	ii)	 	100 shares of common stock of Global Employment Solutions, Inc.

	 	b)	 	Instruments, Documents, Letter of Credit Rights and Chattel Paper

	 	i)	 	None

	2)	 	Global Employment Solutions, Inc.

	 	a)	 	Capital Stock

	 	i)	 	1,000 shares of common stock of Excell Personnel Services Corporation
	 
	 	ii)	 	1,000 shares of common stock of Friendly Advanced Software Technology, Inc.
	 
	 	iii)	 	100 shares of common stock of Main Line Personnel Services, Inc.
	 
	 	iv)	 	2,000 shares of common stock of Southeastern Personnel Management, Inc.
	 
	 	v)	 	1,000 shares of common stock of Southeastern Staffing, Inc.
	 
	 	vi)	 	1,000 shares of common stock of Temporary Placement Service, Inc.

	 	b)	 	Instruments, Documents, Letter of Credit Rights and Chattel Paper

	 	i)	 	Promissory Note with Guaranty issued by Tommy Jenkins, Brasstown Dental Arts in
the principal amount $30,115.72, dated January 15, 20071
	 
	 	ii)	 	Promissory Note with Guaranty issued by Steve Simonds, d/b/a Right to Privacy
Recycling, LLC, in the principal amount $13,867.48, dated December 1, 20042

 

			
	1	 	The note is issued by a customer of Temporary
Placement Service, Inc. (“TPS”) but issued in the name of Global Employment
Solutions, Inc. Borrower considers the note to be worthless.
	 
	2	 	The note is issued by a customer of TPS but
issued in the name of Global Employment Solutions, Inc. Borrower considers the
note to be worthless.

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	 	iii)	 	Promissory note issued by Chad Hill, d/b/a/ Realty Ready, in the principal
amount $139,960.14, dated November 1, 20043

	3)	 	Southeastern Staffing, Inc.

	 	a)	 	Capital Stock

	 	i)	 	1,000 shares of common stock of Bay HR, Inc.
	 
	 	ii)	 	2,000 shares of common stock of Southeastern Georgia HR, Inc.

	 
	 	iii)	 	2,000 shares of common stock of Southeastern Staffing II, Inc.
	 
	 	iv)	 	2,000 shares of common stock of Southeastern Staffing III, Inc.
	 
	 	v)	 	2,000 shares of common stock of Southeastern Staffing IV, Inc.
	 
	 	vi)	 	2,000 shares of common stock of Southeastern Staffing V, Inc.
	 
	 	vii)	 	1,000 shares of common stock of Southeastern Staffing VI, Inc.

	 	b)	 	Instruments, Documents, Letter of Credit Rights and Chattel Paper

	 	i)	 	None.

	4)	 	Temporary Placement Service, Inc.

	 	a)	 	Capital Stock

	 	i)	 	None

	 	b)	 	Instruments, Documents, Letter of Credit Rights and Chattel Paper

	 	i)	 	See Global Employment Solutions, Inc.

 

			
	3	 	The note is issued by a customer of TPS but
issued in the name of Global Employment Solutions, Inc. Borrower considers the
note to be worthless.

Security Agreement

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SCHEDULE III

to

SECURITY AGREEMENT

Schedule of Organizational Identification, Offices,

Locations of Collateral, Excluded Collateral

and Records Concerning Collateral and Excluded Collateral, Identification of

Asset Purchases, Mergers and Prior Locations

	I.	 	Each Grantor’s current name and prior official names during
the past five years:

	 	 	 
	Current Name
	 	Prior Names
	Bay HR, Inc.

	 	—
	Excell Personnel Services Corporation

	 	—
	Friendly Advanced Software Technology, Inc.

	 	—
	Global Employment Holdings, Inc.

	 	R&R Acquisition I, Inc.

R&R Biotech Acquisition I,

Inc.
	Global Employment Solutions, Inc.

	 	—
	Keystone Alliance, Inc.

	 	—
	Main Line Personnel Services, Inc.

	 	—
	Southeastern Georgia HR, Inc.

	 	Ogleburge Publishing, Inc.
	Southeastern Personnel Management, Inc.

	 	—
	Southeastern Staffing, Inc.

	 	—
	Southeastern Staffing II, Inc.

	 	—
	Southeastern Staffing III, Inc.

	 	—
	Southeastern Staffing IV, Inc.

	 	—
	Southeastern Staffing V, Inc.

	 	—
	Southeastern Staffing VI, Inc.

	 	—
	Temporary Placement Service, Inc.

	 	—

	II.	 	Type of entity (e.g. corporation, partnership, business
trust, limited partnership, limited liability company):

Each Grantor is a corporation.

	III.	 	Organizational identification number issued by each
Grantor’s state of incorporation or organization or a statement that no
such number has been issued; state of organization or incorporation of
each Grantor:

Security Agreement

CapitalSource—Global Employment

 

 

	 	 	 	 	 
	Grantor
	 	Org. #	 	State
	Bay HR, Inc.

	 	P03000072205
	 	FL
	Excell Personnel Services Corporation

	 	5450-972-3
	 	IL
	Friendly Advanced Software Technology, Inc.

	 	None4
	 	NY
	Global Employment Holdings, Inc.

	 	3805232
	 	DE
	Global Employment Solutions, Inc.

	 	19981028215
	 	CO
	Keystone Alliance, Inc.

	 	P06000125496
	 	FL
	Main Line Personnel Services, Inc.

	 	216070
	 	PA
	Southeastern Georgia HR, Inc.

	 	K414959
	 	GA
	Southeastern Personnel Management, Inc.

	 	506946
	 	FL
	Southeastern Staffing, Inc.

	 	F30734
	 	FL
	Southeastern Staffing II, Inc.

	 	P03000004865
	 	FL
	Southeastern Staffing III, Inc.

	 	P03000004863
	 	FL
	Southeastern Staffing IV, Inc.

	 	P03000004866
	 	FL
	Southeastern Staffing V, Inc.

	 	P03000004862
	 	FL
	Southeastern Staffing VI, Inc.

	 	P03000004860
	 	FL
	Temporary Placement Service, Inc.

	 	J306676
	 	GA

	VI.	 	Chief executive office and principal place of business of
each Grantor:

	 	 	 
	Grantor
	 	Office
	Bay HR, Inc.

	 	3350 Buschwood Park Drive,

Suite 200

Tampa, FL 33618
	 
	 	 
	Excell Personnel Services Corporation5

	 	33 North Dearborn Street, 

Suite 400

Chicago, IL 60602
	 
	 	 
	Friendly Advanced Software Technology,
Inc.6

	 	590 Fifth Avenue, 6th and 

7th Floors

New York, NY 10036
	 
	 	 
	Global Employment Holdings, Inc.

	 	10375 Park Meadows Dr.,

Suite 375

Lone Tree, CO 80124
	 
	 	 
	Global Employment Solutions, Inc.

	 	10375 Park Meadows Dr.,

Suite 375

Lone Tree, CO 80124
	 
	 	 
	Keystone Alliance, Inc.

	 	3350 Buschwood Park Drive,

Suite 200

Tampa, FL 33618
	 
	 	 
	Main Line Personnel Services, Inc.

	 	100 Presidential Boulevard

North, Suite 200

Bala Cynwyd, PA 19004

 

			
	4	 	The State of New York does not issue
organizational identification numbers.
	 
	5	 	The Grantor expects to move its chief
executive office and principal place of business to 33 West Monroe Street
Chicago, IL 60603 in April 2007.
	 
	6	 	This address is effective upon completion of
the Closing Date Acquisition.

Security Agreement

CapitalSource—Global Employment

 

 

	 	 	 
	Grantor
	 	Office
	Southeastern Georgia HR, Inc.

	 	3350 Buschwood Park Drive,

Suite 200

Tampa, FL 33618
	 
	 	 
	Southeastern Personnel Management, Inc.

	 	3350 Buschwood Park Drive,
 Suite 200

Tampa, FL 33618
	 
	 	 
	Southeastern Staffing, Inc.

	 	3350 Buschwood Park Drive,
 Suite 200

Tampa, FL 33618
	 
	 	 
	Southeastern Staffing II, Inc.

	 	3350 Buschwood Park Drive,
 Suite 200

Tampa, FL 33618
	 
	 	 
	Southeastern Staffing III, Inc.

	 	3350 Buschwood Park Drive,
 Suite 200

Tampa, FL 33618
	 
	 	 
	Southeastern Staffing IV, Inc.

	 	3350 Buschwood Park Drive,
 Suite 200

Tampa, FL 33618
	 
	 	 
	Southeastern Staffing V, Inc.

	 	3350 Buschwood Park Drive,
 Suite 200

Tampa, FL 33618
	 
	 	 
	Southeastern Staffing VI, Inc.

	 	3350 Buschwood Park Drive,
 Suite 200

Tampa, FL 33618
	 
	 	 
	Temporary Placement Service, Inc.

	 	300 West Emory Street,

Suite 205

Dalton, GA 30720

	VII.	 	Other offices of each Grantor:

	 	 	 
	Name
	 	Office
	Friendly Advanced Software Technology, Inc.
	 	700 Veterans Highway, Suite 220
	 
	 	Hauppauge, NY  11788
	 
	 	 
	 
	 	700 Lanidex Plaza
	 
	 	1st Floor
	 
	 	Parsippany, NJ  07054
	 
	 	 
	 
	 	1120 Connecticut Avenue NW,
	 
	 	Suite 270
	 
	 	Washington, DC  20036
	 
	 	 
	 
	 	2275 Research Blvd.
	 
	 	Suite 500
	 
	 	Rockville, MD  20850

Security Agreement

CapitalSource—Global Employment

 

 

	 	 	 
	 	 	 
	Name
	 	Office
	 
	 	202 Mamaroneck Avenue
	 
	 	White Plains, NY  10601
	 
	 	 
	 
	 	2929 East Commercial Boulevard,
	 
	 	Suite 500
	Southeastern Staffing, Inc.
	 	Fort Lauderdale, FL  33308
	 
	 	 
	Temporary Placement Service, Inc.
	 	3710 Old Milton Parkway, Suite
	 
	 	105
	 
	 	Alpharetta, GA  30005
	 
	 	 
	 
	 	One Midtown Plaza
	 
	 	1360 Peachtree Street, Suite 930
	 
	 	Atlanta, GA  30309
	 
	 	 
	 
	 	4210 Columbia Road 2A
	 
	 	Martinez, GA  30907
	 
	 	 
	 
	 	227 Plott Street
	 
	 	Blairsville, GA  30512
	 
	 	 
	 
	 	5415 Progress Court, Suites C & D
	 
	 	Braselton, GA  30517
	 
	 	 
	 
	 	4300 Buford Drive NE, 18A
	 
	 	Buford, GA  30518
	 
	 	 
	 
	 	207 West Belmont Drive
	 
	 	Calhoun, GA  30701
	 
	 	 
	 
	 	857 JFH Parkway
	 
	 	Cartersville, GA  30120
	 
	 	 
	 
	 	18B Barry Drive
	 
	 	White, GA  30184
	 
	 	 
	 
	 	2120 J Highway 76
	 
	 	Chatsworth, GA  30705
	 
	 	 
	 
	 	300 West Emery Street, Suites
	 
	 	100, 106, 108 and 202
	 
	 	Dalton, GA  30720
	 
	 	 
	 
	 	2514 E. Walnut Avenue, Suite

Security Agreement

CapitalSource—Global Employment

 

 

	 	 	 
	 	 	 
	Name
	 	Office
	 
	 	9
	 
	 	Dalton, GA  30720
	 
	 	 
	 
	 	978 South Main Street, Suite 101
	 
	 	Ellijay, GA  30540
	 
	 	 
	 
	 	195 Pearl Nix Parkway, Suite 6
	 
	 	Gainesville, GA  30504
	 
	 	 
	 
	 	3895 Cherokee Street, Suite 360
	 
	 	Kennesaw, GA  30144
	 
	 	 
	 
	 	101 E. Lafayette Square
	 
	 	Lafayette, GA  30728
	 
	 	 
	 
	 	4850 Sugarloaf Parkway, Suite 211
	 
	 	Lawrenceville, GA  30044
	 
	 	 
	 
	 	6135 Peachtree Parkway, Suite 103
	 
	 	Norcross, GA  30092
	 
	 	 
	 
	 	5436 Battlefield Parkway
	 
	 	Ringgold, GA 30736
	 
	 	 
	 
	 	180 Shorter Avenue
	 
	 	Rome, GA 30165
	 
	 	 
	 
	 	3558 Highway 138 SE
	 
	 	Stockbridge, GA 30281
	 
	 	 
	 
	 	107 Spring Street
	 
	 	Washington, GA 30673

	VIII.	 	Warehouses, Consignees and Processors: 

None.

	IX.	 	Other premises at which Collateral or Excluded Collateral is
stored or located:

c/o
Sungard7

 

			
	7	 	Off-site location for computer servers in
facility run by Sungard.

Security Agreement

CapitalSource—Global Employment

 

 

500 East 84th Avenue, Suite E-5

Thornton, Colorado 80229

Iron Mountain8

P.O. Box 915004

Dallas, Texas 75391-5004

Iron Mountain9

121-B Kelsey Lane

Tampa, Florida 33619

Battlefield Storage10

137 Liberty Lane

Ringgold, Georgia 30736

All Seasons Self Storage11

1060 Vista Drive

Dalton, Georgia 30721

Augusta Sound12

634 South Old Belair Road

Grovetown, Georgia 30813

Statham Storage13

370 Sunset Drive

Statham, Georgia 30666

	 	X.	 	Locations of records concerning Collateral and/or Excluded
Collateral: 

     See IX.

 

			
	8	 	The provided address is the contact address
of the entity operating the off-site facility at which Parent and Main Line
Personnel Services, Inc. store their off-site files not needed in the
day-to-day operations, including payroll files, human resources, tax
information, accounts payable, etc.
	 
	9	 	The provided address is the contact address
of the entity operating the off-site facility at which Southeastern Staffing,
Inc. stores all its and its subsidiaries off-site files not needed in the
day-to-day operations, including payroll files, human resources, tax
information, accounts payable, etc.
	 
	10	 	The provided address is the contact address
of the entity operating the off-site facility at which TPS stores off-site
files related to payroll.
	 
	11	 	The provided address is the contact address
of the entity operating the off-site facility at which TPS stores off-site
files not needed in the day-to-day operations, including files related to
accounting, payroll, billing, and accounts receivable and miscellaneous files.
	 
	12	 	The provided address is the contact address
of the entity operating the off-site facility at which TPS stores off-site
miscellaneous files and furniture not needed in the day-to-day operations.
	 
	13	 	The provided address is the contact address
of the entity operating an off-site facility that TPS uses for temporary
storage of miscellaneous files and equipment, such as computers and a copy
machine. not needed in the day-to-day operations.

Security Agreement

CapitalSource—Global Employment

 

 

	 	XI.	 	Persons from whom assets have been acquired, during the past
five years, other than in the ordinary course of business: 
	 
	 	•	 	The Closing Date Acquisition.
	 
	 	XII.	 	Description of all mergers during the past five years that
each Grantor has been a party to:
	 
	 	•	 	In connection with the recapitalization of Borrower and effective on or about April
10, 2006, Borrower was the surviving entity of a merger with Global Merger Corp, a
Colorado corporation. Global Merger Corp was a subsidiary of Parent and was created
for the sole purpose of merging into Borrower at the time of the closing of the
recapitalization.
	 
	 	•	 	While named Michaels & Associates, Inc. and effective on or about 4/1/2004,
Temporary Placement Service, Inc. was the surviving entity of a merger with Temporary
Placement Service, Inc., a Georgia corporation. In connection with the merger Michaels
& Associates, Inc. changed its name to Temporary Placement Service, Inc.
	 
	 	XIII.	 	List of all prior locations of each Grantor during the
past five years:

	 	 	 
	Grantor
	 	Office
	Bay HR, Inc.

	 	1120 Pinellas Bayway, Suite
208

St. Petersburg, FL 33701

225 West Busch Boulevard

Tampa, FL 33612
	 
	 	 
	Friendly Advanced Software Technology, Inc.

	 	700 Veterans Highway, Suite
220

Hauppauge, NY 11788

1383 Veterans Hwy, Suite 32

Hauppauge, NY 11788
	 
	 	 
	Global Employment Holdings, Inc.

	 	9090 Ridgeline Boulevard,

Suite 205

Littleton CO 80129

c/o Kirk M. Warshaw

47 School Street

Chatham, NJ 07928
	 
	 	 
	Global Employment Solutions, Inc.

	 	9090 Ridgeline Boulevard,

Suite 205

Littleton CO 80129

Security Agreement

CapitalSource—Global Employment

 

 

	 	 	 
	Grantor
	 	Office
	 

	 	801 West Mineral Avenue

Littleton, CO 80129

215 Union Boulevard, Suite 400

Lakewood, CO 80228

14142 Denver West Parkway,
Suite 350

Golden, CO 80401
	 
	 	 
	Southeastern Georgia HR, Inc.

	 	225 West Busch Boulevard

Tampa, FL 33612
	 
	 	 
	Southeastern Personnel Management, Inc.

	 	225 West Busch Boulevard

Tampa, FL 33612
	 
	 	 
	Southeastern Staffing, Inc.

	 	225 West Busch Boulevard

Tampa, FL 33612

3000 North East 30th Place,

Suite 100

Ft. Lauderdale, FL 33306

Security Agreement

CapitalSource—Global Employment

 

 

SCHEDULE IV

to

SECURITY AGREEMENT

Motor Vehicles

     None.

Security Agreement

CapitalSource—Global Employment

 

 

SCHEDULE V

to

SECURITY AGREEMENT

Designated Deposit Accounts

	 	 	 	 	 	 	 
	Bank
	 	Grantor	 	Account #	 	Purpose of Account
	Bank of America

	 	Southeastern
Staffing, Inc. /
Borrower
	 	Confidential
treatment

requested; the
omitted
information
has been filed
separately
with the
Securities and
Exchange
Commission
	 	Commercial payroll
	 

	 	Borrower
	 	 	Professional payroll
	 
	 	 	 	 	 
	 

	 	Borrower
	 	 	Internal payroll
	 
	 	 	 	 	 
	 

	 	Borrower
	 	 	Master cash account
	 
	 	 	 	 	 
	 

	 	Borrower
	 	 	Accounts payable
	 
	 	 	 	 	 
	 

	 	Borrower
	 	 	Career Blazers

contingency ACH &

wire
	 

	 	Borrower
	 	 	Philadelphia blocked

lockbox account
	 

	 	Borrower
	 	 	Chicago blocked

lockbox account
	 

	 	Borrower
	 	 	Georgia blocked

lockbox account
	 

	 	Borrower
	 	 	Career Blazers New

York blocked lockbox

account
	 

	 	Southeastern
Staffing, Inc.
	 	 	Master cash account
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Depository account
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	ACH account
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Payroll account
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Internal staff payroll
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Operating account

Security Agreement

CapitalSource—Global Employment

 

 

	 	 	 	 	 	 	 
	Bank
	 	Grantor	 	Account #	 	Purpose of Account
	Wells Fargo

	 	Borrower
	 	Confidential treatment requested;
the omitted information has been filed separately with the Securities
and Exchange Commission	 	Master cash account
	 
	 	 	 	 	 	 
	 

	 	Borrower
	
	 	Restricted lockbox
	 
	 	 	 	 	 	 
	 

	 	Borrower
	 	 	Accounts payable
	 
	 	 	 	 	 	 
	 

	 	Borrower
	 	 	Payroll
	 
	 	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Accounts

payable/Operating

account
	 

	 	Southeastern
Staffing, Inc.
	 	 	Garnishments
	 
	 	 	 	 	 
	Sun Trust

	 	Borrower
	 	 	Master cash account
	 
	 	 	 	 	 
	 

	 	Temporary Placement
Service, Inc.
	 	 	Payroll (not used)
	 
	 	 	 	 	 
	 

	 	Temporary Placement
Service, Inc.
	 	 	Payroll
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Direct deposit & ACH

receipts
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Leased employee

payroll
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Internal payroll
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Customer cash deposits
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Accounts

payable/Operating

account
	 
	 	 	 	 	 
	 

	 	Southeastern
Staffing, Inc.
	 	 	Garnishments
	 
	 	 	 	 	 
	HSBC

	 	Borrower
	 	 	New York payroll

Security Agreement

CapitalSource—Global Employment

 

 

	 	 	 	 	 	 	 
	Bank
	 	Grantor	 	Account #	 	Purpose of Account
	First Trust

	 	Borrower
	 	Confidential treatment requested;
the omitted information has been filed separately with the Securities
and Exchange Commission	 	Philadelphia payroll
	 
	 	 	 	 	 
	Wachovia

	 	Friendly Advanced
Software
Technology, Inc.
	 	 	 Restricted lockbox
	 
	 	 	 	 	 
	 

	 	Friendly Advanced
Software
Technology, Inc.
	 	 	 Accounts payable
	 
	 	 	 	 	 
	 

	 	Friendly Advanced
Software
Technology, Inc.
	 	 	 Payroll
	 
	 	 	 	 	 
	 

	 	Friendly Advanced
Software
Technology, Inc.
	 	 	 Payroll
	 
	 	 	 	 	 
	 

	 	Friendly Advanced
Software
Technology, Inc.
	 	 	 Flexible spending

account
	 
	 	 	 	 	 
	BB&T

	 	Southeastern
Staffing, Inc.
	 	 	Florida Keys/North

Carolina payroll

Security Agreement

CapitalSource—Global Employment

 

 

SCHEDULE VI

to

SECURITY AGREEMENT

Commercial Tort Claims

     None.

Security Agreement

CapitalSource—Global Employment

 

 

EXHIBIT A

POWER OF ATTORNEY

     This Power of Attorney is executed and delivered by each of the undersigned (each a “Grantor”
and collectively, the “Grantors”), to CAPITALSOURCE FINANCE LLC (hereinafter referred to as
“Attorney”), as Agent for the benefit of the Lender Parties, under that certain Credit Agreement
and that certain Security Agreement (the “Security Agreement”), both dated as of                     , 2007,
and other related documents (the “Loan Documents”). No person to whom this Power of Attorney is
presented, as authority for Attorney to take any action or actions contemplated hereby, shall be
required to inquire into or seek confirmation from any Grantor as to the authority of Attorney to
take any action described below, or as to the existence of or fulfillment of any condition to this
Power of Attorney, which is intended to grant to Attorney unconditionally the authority to take and
perform the actions contemplated herein, and each Grantor irrevocably waives any right to commence
any suit or action, in law or equity, against any person or entity which acts in reliance upon or
acknowledges the authority granted under this Power of Attorney. The power of attorney granted
hereby is coupled with an interest, and may not be revoked or canceled by any Grantor without
Attorney’s written consent.

     Each Grantor hereby irrevocably constitutes and appoints Attorney (and all officers, employees
or agents designated by Attorney), with full power of substitution, as such Grantor’s true and
lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such
Grantor and in the name of such Grantor or in its own name, from time to time in Attorney’s
discretion, to take any and all appropriate action and to execute and deliver any and all documents
and instruments which may be necessary or advisable to accomplish the purposes of the Loan
Documents and, without limiting the generality of the foregoing, each Grantor hereby grants to
Attorney the power and right, on behalf of such Grantor, without notice to or assent by such
Grantor, and, subject to the terms of the Security Agreement, at any time (except as provided
below), to do the following: (a) during the existence of an Event of Default, change the mailing
address of such Grantor, open a post office box on behalf of such Grantor, open mail for such
Grantor, and ask, demand, collect, give acquittances and receipts for, take possession of, endorse
any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts
against debtors, assignments, verifications, and notices in connection with any property of such
Grantor; (b) effect any repairs to any asset of such Grantor, or continue to obtain any insurance
and pay all or any part of the premiums therefor and costs thereof, and make, settle and adjust all
claims under such policies of insurance, and make all determinations and decisions with respect to
such policies; (c) pay or discharge any taxes, liens, security interests, or other encumbrances
levied or placed on or threatened against such Grantor or its property; (d) defend any suit, action
or proceeding brought against such Grantor if such Grantor does not defend such suit, action or
proceeding or if Attorney reasonably believes that such Grantor is not pursuing such defense in a
manner that will maximize the recovery to Attorney, and settle, compromise or adjust any suit,
action, or proceeding described above and, in connection therewith, give such discharges or
releases as Attorney may deem appropriate; (e) during the existence of an Event of Default, file or
prosecute any claim, litigation, suit or proceeding in any court of competent jurisdiction or
before any arbitrator, or take any other action otherwise deemed appropriate by Attorney for the
purpose of collecting any and all such moneys due to such Grantor whenever payable and to enforce
any other right in respect of such Grantor’s property; (f) during the

Security Agreement

CapitalSource—Global Employment

1

 

existence of an Event of Default, cause the certified public accountants then engaged by such
Grantor to prepare and deliver to Attorney at any time and from time to time, promptly upon
Attorney’s request, the following reports: (1) a reconciliation of all accounts, (2) an aging of
all accounts, (3) trial balances, (4) test verifications of such accounts as Attorney may request,
and (5) the results of each physical verification of inventory, if any; (g) communicate in its own
name with any party to any contract with regard to the assignment of the right, title and interest
of such Grantor in and under the contract and other matters relating thereto; (h) to file such
financing statements with respect to the Security Agreement, with or without such Grantor’s
signature, or to file a photocopy of the Security Agreement in substitution for a financing
statement, as the Agent may deem appropriate and to execute in such Grantor’s name such financing
statements and amendments thereto and continuation statements which may require such Grantor’s
signature; (i) execute, in connection with any sale provided for in any Loan Document, any
endorsements, assignments or other instruments of conveyance or transfer with respect to collateral
subject to the Loan Documents and to otherwise direct such sale or resale; (j) during the existence
of an Event of Default, exercise the rights of such Grantor with respect to the obligation of all
account debtors to make payment or otherwise render performance to such Grantor; (k) during the
existence of an Event of Default, exercise the rights of such Grantor to, and take any and all
actions that Attorney deems appropriate to realize the benefit of, any Intellectual Property; and
(l) during the existence of an Event of Default, assert any claims such Grantor may have, from time
to time, against any other party to any contract to which such Grantor is a party and to otherwise
exercise any right or remedy of such Grantor thereunder all as though Attorney were the absolute
owner of the property of such Grantor for all purposes, and to do, at Attorney’s option and such
grantor’s expense, at any time or from time to time (except as provided above), all acts and other
things that Attorney reasonably deems necessary to perfect, preserve, or realize upon such
Grantor’s property or assets and Attorney’s liens thereon, all as fully and effectively as such
Grantor might do. Each Grantor hereby ratifies, to the extent permitted by law, all that said
Attorney shall lawfully do or cause to be done by virtue hereof.

[remainder of page intentionally left blank; signature pages follow]

Security Agreement

CapitalSource—Global Employment

2

 

     IN WITNESS WHEREOF, this Power of Attorney is executed by each Grantor pursuant to the
authority of its managers or board of directors, as applicable, this ___th day of                     , 2007.

GRANTORS:

GLOBAL EMPLOYMENT SOLUTIONS,

a Colorado corporation

GLOBAL EMPLOYMENT HOLDINGS, INC.,

a Delaware corporation

	 	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:
	 	Howard Brill
	 

	 	Title:
	 	Chief Executive Officer and President
	 
	 	 	 	 
	 	 	[signatures continue on next page]

Security Agreement

CapitalSource—Global Employment

S-1 

 

TEMPORARY PLACEMENT SERVICE, INC.,

a Georgia corporation

SOUTHEASTERN PERSONNEL MANAGEMENT, INC.,

a Florida corporation

MAIN LINE PERSONNEL SERVICES, INC.,

a Pennsylvania corporation

FRIENDLY ADVANCED SOFTWARE TECHNOLOGY, INC.,

a New York corporation

EXCELL PERSONNEL SERVICES CORPORATION,

an Illinois corporation

SOUTHEASTERN STAFFING, INC.,

a Florida corporation

BAY HR, INC.,

a Florida corporation

SOUTHEASTERN GEORGIA HR, INC.,

a Georgia corporation

SOUTHEASTERN STAFFING II, INC.,

a Florida corporation

SOUTHEASTERN STAFFING III, INC.,

a Florida corporation

SOUTHEASTERN STAFFING IV, INC.,

a Florida corporation

SOUTHEASTERN STAFFING V, INC.,

a Florida corporation

SOUTHEASTERN STAFFING VI, INC.,

a Florida corporation

KEYSTONE ALLIANCE, INC.,

a Florida corporation

	 	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Name:
	 	Howard Brill
	 

	 	Title:
	 	Executive Vice President

Security Agreement

CapitalSource—Global Employment

S-2 

 

NOTARY PUBLIC CERTIFICATE

     On this ___day of
                    , 2007,                                         
, who is personally known to me,appeared before me in his capacity as the                                                    
         , of           
                             
                                        
 (the “Grantor”) and executed on behalf of such Grantor
the Power of Attorney in favor of CapitalSource Finance LLC, as Agent, to which this Certificate is
attached.

	 	 	 
	 

	 	 
	 

	 	Notary Public

Security Agreement

CapitalSource—Global Employment

1exv10w6

 

Exhibit 10.6

SECURITIES PLEDGE AGREEMENT

          THIS SECURITIES PLEDGE AGREEMENT (this “Agreement”) is entered into as of this 28th day of
February, 2007, by and between CAPITALSOURCE FINANCE LLC, a Delaware limited liability company, as
administrative agent for the Lenders described below (in such capacity, “Secured Party”) under the
Credit Agreement (defined below), and Global Employment Holdings, Inc., a Delaware corporation
(“Pledgor”).

RECITALS

     A. Reference is made to (i) that certain Credit Agreement dated as of the date hereof (as the
same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated or
replaced from time to time, the “Credit Agreement”), by and among GLOBAL EMPLOYMENT SOLUTIONS,
INC., a Colorado corporation, as the “Borrower” thereunder, Pledgor, the other Credit Parties
thereto, Secured Party, as the administrative agent for the Lenders described therein, and the
Lenders, and (ii) the other Loan Documents.

     B. The obligations of Secured Party and the Lenders to execute and deliver the Loan Documents
and to make the Loans to Borrower are conditioned on, among other things, the execution of this
Agreement and the pledge by Pledgor to Secured Party, for its benefit and the benefit of the
Lenders, of the Collateral (as defined herein) as security for Pledgor’s Obligations under the Loan
Documents, and Pledgor has agreed to enter into this Agreement in order to induce Secured Party and
the Lenders to enter into the Loan Documents and to make the Loans.

     Accordingly, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, and as an inducement for Secured Party and the Lenders to enter into the Loan
Documents, the parties hereto, intending to be legally bound, do hereby agree as follows:

SECTION 1

DEFINITIONS

     1.1 Defined Terms.

          (a) Capitalized terms used herein and not otherwise defined shall have the meanings assigned
to such terms in the Credit Agreement or, to the extent the same are used or defined therein, the
meanings provided in Article 9 of the UCC in effect on the date hereof. Whenever the context so
requires, each reference to gender includes the masculine and feminine, and the singular number
includes the plural and vice versa. This Agreement shall mean such agreement as the same now exists
or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced, from
time to time. Unless otherwise specified, all accounting terms not defined in the Loan Documents
shall have the meanings given to such terms in and shall be interpreted in accordance with GAAP.
References in this Agreement to any Person shall include such Person and its successors and
permitted assigns.

          (b) In this Agreement, the following terms shall have the following meanings:

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          “Collateral” shall mean, collectively and each individually, (i) the issued and outstanding
capital stock, equity securities, membership interests or units, and ownership interests, and
rights issued or granted in connection with the foregoing, of each Credit Party that are now or
hereafter owned or held of record or beneficially by Pledgor, including, but not limited to, the
interests listed beside Pledgor’s name on Schedule 1.1 hereto (and the certificates
representing such shares, securities and/or interests); (ii) all other capital stock, equity
securities, warrants, options, membership interests and units, and ownership interests, and rights
issued or granted in connection with the foregoing, issued by such Credit Party or any other Person
now or hereafter owned or held of record or beneficially by Pledgor at any time (and the
certificates or other documents or instruments representing such shares, securities and/or other
interests); and (iii) any and all replacements, products and proceeds of, and dividends,
distributions in property or securities, returns of capital or other distributions made on or with
respect to, any of the foregoing.

          “Default” shall mean any event, fact, circumstance or condition that, with the giving of
applicable notice or passage of time or both, would constitute, be or result in an Event of Default
hereunder or under any Loan Document.

          “Event of Default” shall have the meaning set forth in Section 4.

          “Receipt” shall have the meaning set forth in Section 6.4.

          “Secured Obligations” shall have the meaning set forth in Section 2.1.

SECTION 2

COLLATERAL

     2.1 Pledge of Collateral.

          (a) As security for the due and punctual payment and performance by Pledgor of all the
Obligations, including, without limitation, all other obligations now or hereafter owing by Pledgor
to Secured Party and the Lenders under the Loan Documents and this Agreement (collectively, the
“Secured Obligations”), Pledgor hereby pledges and assigns to Secured Party, for its benefit and
the benefit of the Lenders, and grants to Secured Party, for its benefit and the benefit of the
Lenders, a continuing first priority perfected security interest in and Lien on the Collateral and
all proceeds thereof and all of its right, title and interest in and to the foregoing.

          (b) Pledgor has delivered to Secured Party, for its benefit and the benefit of the Lenders,
all certificates and other documents and instruments representing Collateral described in clause
(i) of the definition of Collateral, and Pledgor will deliver to Secured Party, for its benefit and
the benefit of the Lenders, all certificates and other documents and instruments (as applicable)
representing Collateral described in clauses (ii) and (iii) of the definition of Collateral within
ten (10) Business Days after Pledgor’s acquisition and receipt of such Collateral, in each case
registered in the name of Pledgor, duly endorsed in blank or accompanied by a stock or interest
power duly executed by Pledgor in blank, in form and

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substance reasonably satisfactory to Secured Party, with any and all documentary tax stamps
and other documents necessary to cause Secured Party, for its benefit and the benefit of the
Lenders, to have a good, valid and perfected and continuing first priority pledge of, security
interest in, and Lien on the Collateral (free and clear of any Liens in favor of any Person other
than those in favor of Secured Party and/or the Lenders, including, without limitation, any
necessary notations in the corporate or other records books of Pledgor or the Person in which such
Collateral evidences an ownership stake or other interest. At any time following the occurrence
and during the continuation of an Event of Default, at the option of Secured Party, the Collateral
or any part thereof may be registered in the name of Secured Party, for its benefit and the benefit
of the Lenders, or in the name of its or their nominees, and Pledgor covenants that, upon demand by
Secured Party, Pledgor shall, and shall cause the Person in which such Collateral evidences an
ownership stake or other interest in, to effect such registration.

          (c) Secured Party shall have the right to pay any taxes relating to the Collateral and any
costs to preserve the Collateral, which payments shall be part of the Secured Obligations. No
injury to, or loss or destruction of any of, the Collateral or any Material Adverse Effect or
Material Adverse Change shall relieve Pledgor of any of the Secured Obligations.

     2.2 Voting Rights, Dividends and Distributions.

          (a) So long as no Event of Default has occurred, is continuing, would result therefrom or be
caused thereby, nor has Secured Party given written notice otherwise to Pledgor, subject to the
terms of this Agreement (i) Pledgor shall be entitled to exercise all voting and/or consensual
rights and powers relating to the Collateral; provided that in exercising such rights and powers,
Pledgor shall not take any action that is or would be adverse to the interests of Secured Party
and/or the Lenders, and (ii) Pledgor shall be entitled to receive and retain cash dividends and/or
distributions payable on the Collateral.

          (b) Upon the occurrence and during the continuation of an Event of Default, all rights of
Pledgor to exercise voting and/or consensual rights and powers and/or to receive dividends and/or
distributions that Pledgor is entitled to exercise and/or receive pursuant to this Section
2.2 shall cease immediately without any notice to Pledgor or action by or on behalf of Secured
Party or any other Person, and all such rights thereupon shall become vested solely and exclusively
in Secured Party, for its benefit and the benefit of the Lenders, automatically without any action
by any Person. Pledgor hereby appoints Secured Party, for its benefit and the benefit of the
Lenders, its attorney-in-fact, with full power of substitution, which appointment as
attorney-in-fact is irrevocable and coupled with an interest, to take all such actions upon or
after the occurrence and continuation of an Event of Default, whether in the name of Secured Party,
any Lender or Pledgor, as Secured Party may consider necessary or desirable for the purpose of
exercising such rights and receiving such dividends and/or distributions. Any dividends,
distributions in property, returns of capital and other distributions made on or in respect of the
Collateral, and any and all cash and other property received in exchange therefor and/or redemption
of any Collateral delivered to Pledgor in violation of this Agreement shall be held in trust for
the benefit of the Secured Party, for its benefit and the benefit of the Lenders, and forthwith
shall be delivered to Secured Party, for its benefit and the benefit of the Lenders. Any

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and all money and other property received by Secured Party pursuant to the provisions of this
Section 2.2(b) shall be retained by Secured Party, for its benefit and the benefit of the
Lenders, as part of the Collateral.

          (c) Pledgor shall execute and deliver (or cause to be executed and delivered) to Secured Party
such proxies, powers of attorney, dividend orders and other instruments as Secured Party may
reasonably request for the purpose of enabling Secured Party to exercise the voting and/or
consensual rights and powers that it is entitled to exercise pursuant to this Agreement and/or to
receive the dividends and/or distributions that it is authorized to receive and retain pursuant to
this Agreement.

SECTION 3

REPRESENTATIONS, WARRANTIES AND COVENANTS

     3.1 Collateral. Pledgor hereby represents and warrants to Secured Party and the
Lenders (which representations and warranties shall survive the execution and delivery of this
Agreement and the making of Loans under the Credit Agreement) as follows: (a) Pledgor is, or, with
respect to Collateral described in clauses (ii) and (iii) of the definition of Collateral, will be,
the sole direct record and beneficial owner of each share, security and other interest that
comprises Collateral, and Pledgor has and will have good, valid and marketable title thereto, free
and clear of all Liens other than those created by this Agreement and Permitted Liens; (b) all of
Collateral has been, or, with respect to Collateral described in clauses (ii) and (iii) of the
definition of Collateral, will be, duly authorized and validly issued, fully paid and
nonassessable; (c) Collateral constitutes that percentage of the issued and outstanding capital
stock, equity securities, membership units and ownership interests of each Credit Party in which
such Collateral represents an ownership interest (calculated on a fully diluted, as converted
basis) as set forth on Schedule 1.1 as such Schedule may be updated with the consent of the
Secured Party (not to be unreasonably withheld, conditioned or delayed); and (d) Collateral is and
will be duly and validly pledged to Secured Party, for its benefit and the benefit of the Lenders,
in accordance with law, and Secured Party, for its benefit and the benefit of the Lenders, has and
will have a good, valid and perfected first priority Lien on and security interest in Collateral
and the proceeds thereof subject to no other Liens, other than Permitted Liens, and no filing or
other action will be necessary to perfect or protect such Lien other than the filing of a UCC-1
financing statement in favor of Secured Party on or prior to the Closing Date. Upon (i) the filing
of a UCC financing statement naming Pledgor as “debtor,” naming Secured Party as “secured party”
and describing the Collateral in the State of Delaware and (ii) in the case of Collateral
consisting of certificated securities, in addition to filing such financing statements, delivery of
the certificates representing such certificated securities, duly endorsed or accompanied by duly
executed instruments of assignment or transfer in blank, the security interest in the Collateral
granted to Secured Party, for its benefit and the benefit of the Lenders, will constitute perfected
security interest therein prior to all other Liens, securing payment of the Secured Obligations.
Pledgor has full legal authority and power to own the Collateral and to execute, deliver and
perform this Agreement and to consummate the transactions contemplated hereunder, and Pledgor is
under no legal restriction, limitation or disability that would prevent any of the foregoing. No
financing statement relating to any of the Collateral is on file in any public office

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except those on behalf of Secured Party for the benefit of itself and the Lenders and those
related to Permitted Liens.

     3.2 Authorization. The execution, delivery and performance by Pledgor of this
Agreement and the consummation of the transactions contemplated hereby have been duly and validly
authorized by all necessary actions on the part of Pledgor and pursuant to all necessary consents
required therefor. This Agreement has been duly executed and delivered by Pledgor and constitutes
the legal, valid and binding obligation of Pledgor, enforceable against Pledgor in accordance with
its terms, subject to the effect of any applicable bankruptcy, moratorium, insolvency,
reorganization or other similar law affecting the enforceability of creditors’ rights generally and
to the effect of general principles of equity which may limit the availability of equitable
remedies (whether in a proceeding at law or in equity). No approval, consent, authorization of,
filing registration or qualification with, or other action by, Pledgor or any other Person
(including, without limitation, any Person whose securities constitute part of the Collateral) or
Governmental Authority is or will be necessary to permit the valid execution, delivery and
performance of this Agreement by Pledgor or the consummation of the transactions or creation of the
Liens and security interests contemplated hereby other than delivery of certificates representing
the Collateral (if any) to Secured Party and the filing of appropriate UCC financing statements.

     3.3 No Conflicts. The execution, delivery and performance by Pledgor of this
Agreement and the consummation of the transactions contemplated hereby (including, but not limited
to, the exercise of rights or remedies by Secured Party under this Agreement) and the granting and
creation of the security interest and Liens contemplated hereby do not and will not (a) conflict
with or violate any provision of any applicable law, statute, rule, regulation, ordinance, license
or tariff or any judgment, decree or order of any court or other Governmental Authority binding on
or applicable to Pledgor or any Person whose securities constitute part of the Collateral or any of
its or their properties or assets, except as could not reasonably be expected to result in a
Material Adverse Effect; (b) conflict with, result in a breach of, constitute a default of or an
event of default under, or an event, fact, condition or circumstance which, with notice or passage
of time, or both, would constitute or result in a conflict, breach, default or event of default
under, require any consent not obtained under, or result in or require the acceleration of any
indebtedness pursuant to, any indenture, agreement or other instrument to which Pledgor or any
other Credit Party is a party or by which it or they, or any of its or their properties or assets
are bound or subject except, in each case, as could not reasonably be expected to result in a
Material Adverse Effect; (c) if applicable, conflict with or violate any provision of the
certificate of incorporation or formation, by-laws, limited liability company agreement or similar
documents of Pledgor or any other Credit Party, or any agreement by and between Pledgor or any
other Credit Party and its shareholders or equity owners or among any such shareholders or equity
owners; (d) without limiting the generality of the foregoing, the exercise of any rights or
remedies by Secured Party under this Agreement or the other Loan Documents, or under law, is not
subject to any rights of first refusal, preemptive rights, or other similar rights in favor of any
other Person; or (e) result in the creation or imposition of any Lien of any nature whatsoever upon
any of the properties or assets of Pledgor or any Person whose securities constitute part of the
Collateral (except as contemplated herein).

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     3.4 Non-Subordination. The obligations of Pledgor under this Agreement are not
subordinated in any way to any other obligation of Pledgor or to the rights of any other Person,
and Pledgor is not a party to or bound by any other agreement, document or instrument that
otherwise relates to the Secured Obligations or any of the Collateral (other than the Loan
Documents and the Subordinated Loan Documents).

     3.5 Litigation and Compliance; Other Agreements. (a) Pledgor is not in default or
breach of the performance, observance or fulfillment of any obligation, covenant or condition
contained in any agreement, document or instrument to which it is a party or by which it or any of
its properties or assets is or are bound or subject, which default or breach, if not remedied
within any applicable grace period or cure period, would reasonably be expected to result in a
Material Adverse Effect. There is no action, suit, proceeding or investigation pending or, to
Pledgor’s actual knowledge, threatened, before or by any court, arbitrator or Governmental
Authority (i) against or affecting the Collateral, Pledgor, any entity whose securities constitute
the Collateral, this Agreement or the transactions contemplated hereby, or (ii) that questions or
could reasonably be expected to prevent the validity of this Agreement or the right or ability of
Pledgor to execute or deliver this Agreement or to consummate the transactions contemplated hereby
or to create or grant the Liens and security interests contemplated hereby.

          (b) Neither Pledgor nor any Person whose securities constitute part of the Collateral is (i) a
party to any judgment, order or decree or any agreement, document or instrument, or subject to any
restriction, which would materially adversely affect its ability to execute and deliver, or perform
under, this Agreement, or (ii) in default in the performance, observance or fulfillment of any
obligation, covenant or condition contained in any agreement, document or instrument to which it is
a party or to which any of its properties or assets are subject, which default, if not remedied
within any applicable grace or cure period, would reasonably be expected to result in a Material
Adverse Effect, nor is there any event, fact, condition or circumstance which, with notice or
passage of time or both, would constitute or result in a conflict, breach, default or event of
default under, any of the foregoing which, if not remedied within any applicable grace or cure
period would reasonably be expected to result in a Material Adverse Effect.

     3.6 Truthful Disclosure. The representations and warranties made by Pledgor in this
Agreement do not contain any untrue statement of material fact or omit to state any material fact
necessary to make the statements herein not materially misleading, and there is no fact actually
known to Pledgor which Pledgor has not disclosed to Secured Party in writing which would reasonably
be expected to result in a Material Adverse Effect.

     3.7 Covenants.

          (a) Pledgor shall, and shall cause each Person whose securities constitute part of the
Collateral to, take all necessary and appropriate actions to ensure that this Agreement and the
Liens and pledges created hereby are and remain enforceable against Pledgor in accordance with
their terms and that Pledgor complies with each of its obligations hereunder. Pledgor shall not
(i) cause or permit to be done, or enter into or make or become a party to any agreement,

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arrangement or commitment to do or cause to be done, any of the things prohibited by this
Agreement or that would breach this Agreement, or (ii) enter into or make or become a party to any
agreement, document or instrument or arrangement that conflicts with this Agreement or that would
prevent Pledgor from complying herewith and/or performing hereunder in all material respects.

          (b) Pledgor hereby agrees to take or cause to be taken promptly such further actions, obtain
such consents, waivers, and approvals and duly execute and deliver or cause to be executed and
delivered such further agreements, assignments, instructions or documents as Secured Party may
request in its Permitted Discretion with respect to or in order to fully effectuate the purposes,
terms and conditions of this Agreement and the consummation of the transactions contemplated
hereby, whether before, at or after the performance and/or consummation of such transactions or the
occurrence of a Default or Event of Default, including, without limitation, any of the foregoing
necessary or required or requested by Secured Party in its Permitted Discretion to create, perfect,
maintain, preserve, continue, validate or otherwise protect, and from time to time renew, Secured
Party’s, for its benefit and the benefit of the Lenders, perfected first priority Lien on and
pledge of the Collateral. Without limiting the foregoing, upon the exercise by Secured Party or
any Lender or any of its or their Affiliates or agents of any right or remedy which requires any
consent, approval or registration with, consent, qualification or authorization by, any Person,
Pledgor shall execute and deliver, or cause the execution and delivery of, all applications,
certificates, instruments and other documents that Secured Party or any Lender or its or their
Affiliate or agents may require, in their Permitted Discretion, be obtained for such consent,
approval, registration, qualification or authorization. Pledgor hereby appoints Secured Party, for
its benefit and the benefit of the Lenders, its attorney-in-fact (without requiring Secured Party
to act as such), with full power of substitution, which appointment as attorney-in-fact is
irrevocable and coupled with an interest, to take all such actions, whether in the name of Secured
Party, for its benefit and the benefit of the Lenders, or Pledgor, as Secured Party in its
Permitted Discretion may consider necessary or desirable with respect to the foregoing (to the
extent Pledgor fails to so execute and/or file any of the foregoing within five (5) Business Days
of Secured Party’s request or the time when Pledgor is otherwise obligated to do so). Pledgor will
pay all costs associated with respect to the foregoing, including without limitation, the cost of
filing any of the foregoing in all public offices or other locations wherever Secured Party deems
filing to be necessary or desirable.

          (c) Pledgor (i) shall (A) maintain at all times the pledge of the Collateral to Secured Party,
for its benefit and the benefit of the Lenders, and Secured Party’s, for its benefit and the
benefit of the Lenders, perfected first priority Lien on the Collateral; and (B) defend the
Collateral and Secured Party’s, for its benefit and the benefit of the Lenders, perfected first
priority Lien thereon and pledge thereof against all claims and demands of all Persons at any time
and pay all reasonable costs and expenses (including, without limitation, in-house documentation
and diligence fees and legal expenses and reasonable attorneys’ fees and expenses) in connection
with such defense, which, at Secured Party’s discretion, shall be added to the Secured Obligations,
and (ii) shall not sell, lease, transfer, pledge, encumber, restrict, assign or otherwise dispose
of any of the Collateral or any interest therein or create, incur,

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assume or suffer to exist any Lien on the Collateral or any interest therein (except pursuant
hereto, and Permitted Liens).

          (d) Pledgor shall, and shall cause each Person whose securities constitute the Collateral to,
(i) keep true, complete and accurate records with respect to the Collateral, and (ii) not take or
permit to be taken any action in connection with the Collateral or otherwise which would impair in
any material respect (as determined by Secured Party in its Permitted Discretion) the value of the
Collateral or any portion thereof or the value of the interests or rights of Pledgor or Secured
Party, for its benefit and the benefit of the Lenders, therein, including, without limitation, any
amendment to or modification of the certificate of incorporation (or similar charter documents) or
bylaws (or similar documents) of Pledgor or such Person.

     3.8 No Third Party Beneficiary. No rights are intended to be created under this
Agreement for the benefit of any third party donee, creditor or incidental beneficiary of Pledgor.

SECTION 4

EVENTS OF DEFAULT

          The occurrence of any one or more of the following shall constitute an “Event of Default”
under this Agreement: (1) Pledgor shall be in violation, breach or default of, or shall fail to
perform, observe or comply with any covenant, obligation or agreement set forth in, this Agreement
within five (5) business days of written notice from Secured Party (provided that no such
additional notice shall be required if the applicable covenant, obligation or agreement provides
for notice); (2) any representation, statement or warranty made or deemed made by Pledgor in this
Agreement shall not be true and correct in all material respects or shall have been false or
misleading in any material respect on the date when made or deemed to have been made (except to the
extent already qualified by materiality, in which case it shall be true and correct in all respects
and shall not be false or misleading in any respect on the date when made or deemed to have been
made); (3) any Event of Default (as defined in the Credit Agreement) shall occur and be continuing
past any cure period (if applicable) and shall not have been waived in writing; or (4) if prior to
termination of this Agreement pursuant to Section 6.10 hereof and other than as caused by
Secured Party or any Lender, this Agreement shall cease to be in full force and effect or any Lien
created hereunder shall cease to constitute a valid perfected first priority Lien on the Collateral
or Secured Party, for its benefit and the benefit of the Lenders, otherwise ceases to have a valid
perfected first priority Lien on and security interest in any of the Collateral.

SECTION 5

RIGHTS AND REMEDIES

     5.1 Rights and Remedies in Loan Documents.

          (a) In addition to the provisions set forth in this Agreement, upon the occurrence and during
the continuation of an Event of Default, Secured Party, for its benefit and the benefit of the
Lenders, shall have the right to exercise any and all rights, powers, options and remedies provided
for in any Loan Document and/or herein, under the UCC or at law or in

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equity, including, without limitation, to the fullest extent permitted by applicable law, the
right (in its sole and absolute discretion) to, which Pledgor agrees to be commercially reasonable,
(i) apply the Collateral and any other property of Pledgor held by Secured Party, for its benefit
and the benefit of the Lenders, or the Lenders to reduce the Secured Obligations, (ii) foreclose
the Liens created hereunder and under the Loan Documents, (iii) realize upon, take possession of
and/or sell any Collateral, with or without judicial process, at public or private sales or at any
broker’s board or on any securities exchange or otherwise, (iv) exercise all rights and powers with
respect to the Collateral as Pledgor might exercise in its absolute discretion, including, without
limitation, (1) to relinquish or abandon any Collateral or any Lien thereon, (2) to vote all or any
part of the Collateral and otherwise act with respect thereto as though it were the outright owner
thereof, (3) to settle, adjust, compromise and arrange all claims and demands whatsoever in
relation to all or any part of the Collateral, (4) to execute all such contracts, agreements,
deeds, documents and instruments, to bring, defend and abandon all such actions, suits and
proceedings, and to take all actions in relation to all or any part of the Collateral, and/or (5)
to appoint managers, sub-agents, and officers for any of the purposes mentioned in the foregoing
provisions of this Section and to dismiss the same, (v) collect and send notices regarding the
Collateral, with or without judicial process, (vi) by its own means or with judicial assistance,
enter any premises at which Collateral is located, or render any of the foregoing unusable or
dispose of the Collateral on such premises without any liability for rent, storage, utilities, or
other sums, and Pledgor shall not resist or interfere with such action, and/or (vii) at Pledgor’s
expense, require that all or any part of the Collateral be assembled and made available to Secured
Party at any place designated by Secured Party in its Permitted Discretion. Secured Party, for its
benefit and the benefit of the Lenders, shall have the right in its sole discretion to determine
which rights and/or remedies Secured Party or the Lenders may at any time pursue, relinquish,
subordinate or modify, and such determination will not in any way modify or affect any of Secured
Party’s or Lenders’ rights, Liens or remedies under any Loan Document or this Agreement, applicable
law or equity. The enumeration of any rights and remedies in this Agreement or any Loan Document
is not intended to be exhaustive, and all rights and remedies of Secured Party described in this
Agreement and the Loan Documents are cumulative and are not alternative to or exclusive of any
other rights or remedies which Secured Party otherwise may have. The partial or complete exercise
of any right or remedy shall not preclude any other further exercise of such or any other right or
remedy.

          (b) Notwithstanding any provision of any Loan Document, Secured Party, in its sole discretion,
shall have the right, but not the obligation, at any time that any Credit Party or Pledgor fails to
do so, and from time to time, without prior notice, as applicable, to: (i) obtain insurance
covering any of the Collateral to the extent required under the Credit Agreement and not obtained
by Pledgor; (ii) discharge taxes, levies or Liens on any of the Collateral that are in violation of
any Loan Document unless Credit Party or Pledgor, as applicable, is in good faith with due
diligence by appropriate proceedings contesting those items; and (iii) pay for the maintenance,
repair and/or preservation of the Collateral. Such expenses and advances shall be added to the
Secured Obligations until reimbursed to Secured Party and shall be secured by the Collateral, and
such payments by Secured Party shall not be construed as a waiver by Secured

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Party or the Lenders of any Event of Default or any other rights or remedies of Secured Party
and the Lenders.

          (c) Pledgor agrees that notice received by it at least ten (10) calendar days before the time
of any intended public sale, or the time after which any private sale or other disposition of
Collateral is to be made, shall be deemed to be reasonable notice of such sale or other
disposition. If permitted by applicable law, any perishable Collateral which threatens to speedily
decline in value or which is sold on a recognized market may be sold immediately by Secured Party
without prior notice to Pledgor. At any sale or disposition of Collateral, Secured Party may (to
the extent permitted by applicable law) (i) purchase all or any part thereof free from any right of
redemption by Pledgor or any Credit Party or other Person guaranteeing the Secured Obligations,
which right is hereby waived and released, (ii) restrict the number of prospective bidders or
purchasers and/or further restrict such prospective bidders or purchasers to Persons who will
represent and agree that they are purchasing for their own account, for investment and not with a
view to the distribution or resale of the Collateral, and (iii) otherwise require that such sale be
conducted subject to restrictions as to such other matters as Secured Party may deem necessary in
order that such sale may be effected in such manner as to comply with all applicable state and
federal securities and other laws.

          (d) Pledgor hereby acknowledges that (i) notwithstanding that a higher price might be obtained
for the Collateral at a public sale than at a private sale or sales, the making of a public sale of
the Collateral may be subject to registration requirements under applicable securities laws and
other legal restrictions, compliance with which would require such actions on the part of Pledgor,
would entail such expenses and would subject Secured Party, any Lender, any underwriter through
whom the Collateral may be sold or any controlling person of any of the foregoing to such
liabilities, as would make a public sale of the Collateral impractical, and, accordingly, Pledgor
hereby agrees that private sales made by Secured Party or any Lender in good faith in accordance
with the provisions of this Agreement may be at prices and on other terms less favorable to the
seller than if the Collateral were sold at a public sale, and that Secured Party and the Lenders
shall not have any obligation to take any steps in order to permit the Collateral to be sold at a
public sale, such a private sale being considered or deemed to be a sale in a commercially
reasonable manner; and (ii) Secured Party is hereby authorized to comply with any limitation or
restriction in connection with such sale that may be necessary in order to avoid any violation of
applicable law or in order to obtain any required approval of the purchaser(s) by any Governmental
Authority or officer or court.

     5.2 Application of Proceeds. In addition to any other rights, options and remedies
Secured Party and the Lenders have under the Loan Documents, the UCC, at law or in equity, the
proceeds of any collection, recovery, receipt, appropriation, realization, transfer, exchange,
disposition or sale of the Collateral as aforesaid shall be applied in the following order of
priority: (a) first, to the payment of all reasonable costs and expenses incurred by
Secured Party and the Lenders in connection therewith or incidental to the care, safekeeping or
otherwise of any of the Collateral, and to the payment of all sums which Secured Party and the
Lenders may be required or may elect to pay, if any, for taxes, assessments, insurance and other
charges upon the Collateral or any part thereof, and all other payments that Secured Party and the
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be required or authorized to make under any provision of this Agreement or any Loan Document
(including, without limitation, in each such case, in-house documentation and diligence fees and
legal expenses, search, audit, recording, professional and filing fees and expenses and reasonable
attorneys’ fees and all expenses, liabilities and advances made or incurred in connection
therewith); (b) second, to the payment of all Secured Obligations in such order as
determined by Secured Party in its sole discretion; (c) third, to the obligations under the
Subordinated Loan Documents, (d) fourth, to the satisfaction of indebtedness secured by any
subordinate security interest of record in the Collateral if written notification of demand
therefor is received before distribution of the proceeds is completed, provided, that, if
requested by Secured Party, the holder of a subordinate security interest shall furnish reasonable
proof of its interest, and unless it does so, Secured Party and the Lenders need not address its
claims; and (e) fifth, to the payment of any surplus then remaining to Pledgor or Credit
Party, as applicable, unless otherwise provided by law or directed by a court of competent
jurisdiction, provided that Pledgor shall be liable, jointly and severally, for any
deficiency if such proceeds are insufficient to satisfy the Secured Obligations or any other item
referred to in this section.

     5.3 Rights to Appoint Receiver. Without limiting and in addition to any other rights,
options and remedies Secured Party and the Lenders have hereunder or under the Loan Documents, the
UCC, at law or in equity, upon the occurrence and during the continuation of an Event of Default,
Secured Party shall have the right to apply for and have a receiver appointed by a court of
competent jurisdiction in any action taken by Secured Party to enforce its rights and remedies in
order to manage, protect and preserve the Collateral and continue the operation of the business of
any Credit Party in which such Collateral represents an ownership interest and/or Pledgor and to
collect all revenues and profits thereof and apply the same to the payment of all expenses and
other charges of such receivership including the compensation of the receiver and to the payments
as aforesaid until a sale or other disposition of such Collateral shall be finally made and
consummated.

     5.4 Attorney in Fact. Pledgor hereby irrevocably appoints Secured Party, for its
benefit and the benefit of the Lenders, as its attorney in fact to take any action Secured Party
deems necessary or desirable upon the occurrence and during the continuation of an Event of Default
to perfect, protect and realize upon its Lien and first priority security interest in the
Collateral, for its benefit and the benefit of the Lenders, including the execution and delivery of
any and all documents or instruments related to the Collateral in Pledgor’s name, or otherwise to
effect fully the purpose, terms and conditions of this Agreement and the other Loan Documents, and
said appointment shall create in Secured Party, for its benefit and the benefit of the Lenders, a
power coupled with an interest.

SECTION 6

MISCELLANEOUS

     6.1 No Waiver of Defaults; Waiver. No course of action or dealing, renewal, waiver,
release or extension of any provision of any Loan Document or this Agreement, or single or partial
exercise of any such provision, or delay, failure or omission on Secured Party’s or the Lenders’
part in enforcing any such provision shall affect the liability of Pledgor or operate as a

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waiver of such provision or preclude any other or further exercise of such provision. No
waiver by Secured Party or any Lender of any one or more defaults by any other party in the
performance of any of the provisions of any Loan Document or this Agreement shall operate or be
construed as a waiver of any future default, whether of a like or different nature, and each such
waiver shall be limited solely to the express terms and provisions of such waiver. Notwithstanding
any other provision of any Loan Document or this Agreement, by completing the Closing and/or by
making Advances, neither Secured Party nor any Lender waives any breach of any representation or
warranty under any Loan Document or this Agreement, and all of Secured Party’s and the Lenders’
claims and rights resulting therefrom are specifically reserved. Except as expressly provided for
herein, Pledgor hereby waives setoff, counterclaim, demand, presentment, protest, all defenses
(other than indefeasible payment) with respect to any and all instruments and all notices and
demands of any description (including, without limitation, notice of acceptance hereof, notice of
any Loan made, credit extended, collateral received or delivered) and the pleading of any statute
of limitations as a defense to any demand under any Loan Document, it being the intention that
Pledgor shall remain liable under this Agreement and the Loan Documents until the full amount of
all Secured Obligations shall have been indefeasibly paid in cash and performed and satisfied in
full and the Credit Agreement terminated, notwithstanding any act, omission or anything else which
might otherwise operate as a legal or equitable discharge of Pledgor. Pledgor hereby waives any
and all defenses (other than indefeasible payment) and counterclaims it may have or could interpose
in any action or proceeding brought by Secured Party or any Lender to obtain an order of court
recognizing the assignment of, or Lien of Secured Party, for its benefit and the benefit of the
Lenders, in and to, any Collateral.

     6.2 Entire Agreement. This Agreement and the other Loan Documents to which Pledgor is
a party constitute the entire agreement between Pledgor, Secured Party and the Lenders with respect
to the subject matter hereof and thereof, and supersede all prior agreements and understandings, if
any, relating to the subject matter hereof or thereof. Any promises, representations, warranties
or guarantees not herein contained and hereinafter made shall have no force and effect unless in
writing signed by the parties hereto. Each party hereto acknowledges that it has been advised by
its own counsel in connection with the negotiation and execution of this Agreement and is not
relying upon oral representations or statements inconsistent with the terms and provisions hereof.

     6.3 Amendment. No provision of this Agreement may be changed, modified, amended,
restated, waived, supplemented, discharged, canceled or terminated orally or by any course of
dealing or in any other manner other than by a written agreement signed by Secured Party and
Pledgor. Pledgor acknowledges that it has been advised by its own counsel in connection with the
negotiation and execution of this Agreement and is not relying upon oral representations or
statements inconsistent with the terms and provisions hereof.

     6.4 Notices. Any notice or request under this Agreement shall be given to any party
thereto at such party’s address set forth beneath its signature on the signature page thereto, or
at such other address as such party may hereafter specify in a notice given in the manner required
under this Section 6.4. Any such notice or request shall be given only by, and shall be
deemed to

Securities pledge Agreement

Global Employment Holdings, Inc.

(CapitalSource/Global Employment)

12

 

have been received upon (each, a “Receipt”): (a) registered or certified mail, return receipt
requested, on the date on which received as indicated in such return receipt, (b) delivery by a
nationally recognized overnight courier, one (1) Business Day after deposit with such courier, or
(c) facsimile or electronic transmission, in each case upon telephone or further electronic
communication from the recipient acknowledging receipt (whether automatic or manual from
recipient), as applicable.

     6.5 Governing Law; Jurisdiction; Construction. THIS AGREEMENT SHALL BE DEEMED TO BE A
CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
CONFLICTS OF LAW PRINCIPLES THAT RESULT IN THE APPLICATION OF THE LAWS OF A DIFFERENT JURISDICTION.
ANY JUDICIAL PROCEEDING AGAINST PLEDGOR WITH RESPECT TO THE SECURED OBLIGATIONS, THIS AGREEMENT,
OR ANY RELATED AGREEMENT MAY BE BROUGHT IN THE FEDERAL OR STATE COURTS LOCATED IN NEW YORK COUNTY,
STATE OF NEW YORK. BY EXECUTION AND DELIVERY OF THIS AGREEMENT, PLEDGOR (a) ACCEPTS THE
NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS AND IRREVOCABLY AGREES TO BE BOUND BY ANY
JUDGMENT RENDERED THEREBY, (b) WAIVES PERSONAL SERVICE OF PROCESS, (c) AGREES THAT SERVICE OF
PROCESS UPON IT MAY BE MADE BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, AT THE
ADDRESS FOR NOTICES SPECIFIED IN SECTION 6.4 HEREOF, AND (d) WAIVES ANY OBJECTION TO
JURISDICTION AND VENUE OF ANY ACTION INSTITUTED IN THE AFORESAID COURTS AND AGREES NOT TO ASSERT
ANY DEFENSE BASED ON LACK OF JURISDICTION, VENUE, CONVENIENCE OR FORUM NON CONVENIENS. NOTHING
SHALL AFFECT THE RIGHT OF SECURED PARTY OR ANY LENDER TO SERVE PROCESS IN ANY MANNER PERMITTED BY
LAW OR SHALL LIMIT THE RIGHT OF SECURED PARTY OR ANY LENDER TO BRING PROCEEDINGS AGAINST PLEDGOR IN
THE COURTS OF ANY OTHER JURISDICTION HAVING JURISDICTION. ANY JUDICIAL PROCEEDINGS AGAINST SECURED
PARTY OR ANY LENDER INVOLVING, DIRECTLY OR INDIRECTLY, THE SECURED OBLIGATIONS, THIS AGREEMENT OR
ANY RELATED AGREEMENT SHALL BE BROUGHT ONLY IN A FEDERAL OR STATE COURT LOCATED IN NEW YORK COUNTY,
STATE OF NEW YORK. EACH OF THE PARTIES HERETO ACKNOWLEDGES THAT IT PARTICIPATED IN THE NEGOTIATION
AND DRAFTING OF THIS AGREEMENT WITH THE ASSISTANCE OF ITS OWN COUNSEL AND THAT, ACCORDINGLY, NO
PARTY SHALL MOVE OR PETITION A COURT CONSTRUING THIS AGREEMENT TO CONSTRUE IT MORE STRINGENTLY
AGAINST ONE PARTY THAN AGAINST ANY OTHER.

     6.6 Severability; Captions; Counterparts; Facsimile Signature. If any provision of
this Agreement is adjudicated to be invalid under applicable laws or regulations, such provision
shall be inapplicable to the extent of such invalidity without affecting the validity or
enforceability of the remainder of this Agreement which shall be given effect so far as possible.
The captions in this Agreement are intended for convenience and reference only and shall not affect
the meaning or interpretation of this Agreement. This Agreement may be executed in one or more
counterparts (which taken together, as applicable, shall constitute one and the same

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Global Employment Holdings, Inc.

(CapitalSource/Global Employment)

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instrument) and by facsimile transmission, which facsimile signatures shall be considered
original executed counterparts. Each party to this Agreement agrees that it will be bound by its
own facsimile signature and that it accepts the facsimile signature of each other party.

     6.7 Successors and Assigns. This Agreement (a) shall inure to the benefit of, and may
be enforced by, Secured Party and the Lenders, Transferees, Participants and all future holders of
the Notes, any of the Secured Obligations or any of the Collateral and each of their respective
successors and permitted assigns, and (b) shall be binding upon and enforceable against Pledgor and
Pledgor’s permitted assigns and successors. Pledgor shall not assign, delegate or transfer this
Agreement or any of its rights or obligations hereunder without the prior written consent of
Secured Party. This Agreement shall be binding upon Pledgor and its respective heirs,
administrators, executors, successors and assigns. Nothing contained in this Agreement or any
other Loan Document shall be construed as a delegation to Secured Party or any Lender of Pledgor’s
duty of performance. PLEDGOR ACKNOWLEDGES AND AGREES THAT SECURED PARTY AND THE LENDERS AT ANY
TIME AND FROM TIME TO TIME MAY (I) DIVIDE AND REISSUE (WITHOUT ANY SUBSTANTIVE CHANGES OTHER THAN
THOSE RESULTING FROM SUCH DIVISION) THE NOTES, IF ANY, AND/OR (II) SELL, ASSIGN OR GRANT
PARTICIPATING INTERESTS IN OR TRANSFER ALL OR ANY PART OF ITS RIGHTS OR OBLIGATIONS UNDER THIS
AGREEMENT, ANY NOTE, THE OBLIGATIONS, THE COLLATERAL AND/OR THE LOAN DOCUMENTS TO ONE OR MORE
TRANSFEREES IN EACH CASE ON THE TERMS AND CONDITIONS PROVIDED IN THE CREDIT AGREEMENT. The terms
“Secured Party” and “Lenders” in this Agreement include Transferees and Participants and Secured
Party’s successors and assigns, each of which shall have all rights and benefits of Secured Party
or the Lenders thereunder. Each Transferee and Participant shall have all of the rights and
benefits with respect to the Secured Obligations, Notes (if any), Collateral, this Agreement and/or
Loan Documents held by it as fully as if the original holder thereof. Notwithstanding any other
provision of this Agreement or any Loan Document, Secured Party and the Lenders may disclose to any
Transferee or Participant all information, reports, financial statements, certificates and
documents obtained under any provision of this Agreement.

     6.8 Waiver of Jury Trial. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY TO
THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION
ARISING HEREUNDER OR IN ANY WAY CONNECTED WITH OR INCIDENTAL TO THE DEALINGS OF THE PARTIES WITH
RESPECT HERETO OR THE TRANSACTIONS CONTEMPLATED HEREBY, WHETHER NOW EXISTING OR HEREAFTER ARISING,
AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. EACH PARTY HEREBY AGREES AND CONSENTS THAT
ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY
PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT
AS WRITTEN EVIDENCE OF THE CONSENTS OF THE PARTIES TO THE WAIVER OF THEIR RESPECTIVE RIGHTS TO
TRIAL BY JURY. PLEDGOR ACKNOWLEDGES AND AGREES THAT IT HAS RECEIVED FULL AND SUFFICIENT
CONSIDERATION FOR THIS PROVISION (AND EACH OTHER

Securities pledge Agreement

Global Employment Holdings, Inc.

(CapitalSource/Global Employment)

14

 

PROVISION OF EACH OTHER LOAN DOCUMENT TO WHICH IT IS A PARTY) AND THAT THIS PROVISION IS A

MATERIAL INDUCEMENT FOR SECURED PARTY ENTERING INTO THIS AGREEMENT AND EACH SUCH OTHER LOAN

DOCUMENT.

     6.9 Expenses. Pledgor shall pay all reasonable costs and expenses incurred by Secured
Party, the Lenders and/or their Affiliates, including, without limitation, documentation and
diligence fees and expenses, all search, audit, appraisal, recording, professional and filing fees
and expenses and all other out-of-pocket charges and expenses (including, without limitation, UCC
and judgment and tax lien searches and UCC filings and fees for post-Closing UCC and judgment and
tax lien searches and wire transfer fees and audit expenses), and reasonable attorneys’ fees and
expenses, (a) in any effort to enforce, protect or collect payment of any Secured Obligation or to
enforce this Agreement or any related agreement, document or instrument, (b) in connection with
entering into, negotiating, preparing, reviewing and executing this Agreement, the Credit Agreement
and other Loan Documents, and/or any related agreements, documents or instruments, (c) arising in
any way out of administration of the Secured Obligations or the taking or refraining from taking by
Secured Party or the Lenders of any action requested by Pledgor, (d) in connection with
instituting, maintaining, preserving, enforcing and/or foreclosing on Secured Party’s, for the
benefit of itself and the Lenders, Liens in any of the Collateral or securities pledged under this
Agreement, whether through judicial proceedings or otherwise, (e) in defending or prosecuting any
actions, claims or proceedings arising out of or relating to Secured Party’s and/or the Lenders’
transactions with Pledgor, (f) in seeking, obtaining or receiving any advice with respect to its
rights and obligations under this Agreement and any related agreement, document or instrument, (g)
arising out of or relating to any Default or Event of Default or occurring thereafter or as a
result thereof, (h) in connection with all actions, visits, audits and inspections undertaken by
Secured Party or the Lenders or their Affiliates pursuant to this Agreement, and/or (i) in
connection with any modification, restatement, supplement, amendment, waiver or extension of this
Agreement and/or any related agreement, document or instrument. All of the foregoing shall be part
of the Secured Obligations. If Secured Party, any Lender or any of their Affiliates uses in-house
counsel for any purpose under this Agreement for which Pledgor is responsible to pay or indemnify,
Pledgor expressly agree that the Secured Obligations include reasonable charges for such work
commensurate with the fees that would otherwise be charged by outside legal counsel selected by
Secured Party, such Lender or such Affiliate in its sole discretion for the work performed.

     6.10 Termination. This Agreement shall continue in full force and effect until full
performance and indefeasible payment in full in cash of all Secured Obligations and termination of
the Credit Agreement. Notwithstanding any other provision of this Agreement or any Loan Document,
no termination of this Agreement shall affect Secured Party’s or the Lenders’ rights or any of the
Secured Obligations existing as of the effective date of such termination until the Secured
Obligations have been fully performed and indefeasibly paid in cash in full. The Liens granted to
Secured Party, for its benefit and the benefit of the Lenders, hereunder and any financing
statements filed pursuant hereto and the rights and powers of Secured Party and the Lenders
hereunder shall continue in full force and effect until all of the Secured Obligations have been
fully performed and indefeasibly paid in full in cash.

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Global Employment Holdings, Inc.

(CapitalSource/Global Employment)

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     6.11 Approvals and Duties; Release of Collateral. Unless expressly provided herein to
the contrary, any approval, consent, waiver or satisfaction of Secured Party or the Lenders with
respect to any matter that is the subject of any Loan Document may be granted or withheld by
Secured Party in its sole and absolute discretion. Secured Party and the Lenders shall have no
responsibility for or obligation or duty with respect to any of the Collateral (other than the duty
of reasonable care with respect to the safekeeping of such Collateral in their custody and
accounting therefor if requested by Pledgor) or any matter or proceeding arising out of or relating
thereto, including, without limitation, any obligation or duty to collect any sums due in respect
thereof or to protect or preserve any rights pertaining thereto. Promptly following full
performance and satisfaction and indefeasible payment in full in cash of all Secured Obligations
and the termination of this Agreement and the Loan Documents, the Liens created hereby shall
terminate and Secured Party and the Lenders shall execute and deliver such documents, at Pledgor’s
expense, as are necessary to release their Liens in the Collateral and shall return the Collateral
to Pledgor. Each of Secured Party and each Lender shall not be deemed to have made any
representation or warranty with respect to any Collateral so delivered except that such Collateral
is free and clear, on the date of such delivery, of any and all Liens arising from its own acts.

     6.12 Survival. It is the express intention and agreement of the parties hereto that
all covenants, representations, warranties and waivers and indemnities made by Pledgor herein shall
survive the execution, delivery and termination of this Agreement until all Secured Obligations are
performed in full and indefeasibly paid in full in cash and the Loan Documents are terminated.

[SIGNATURES ON NEXT PAGE]

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     IN WITNESS WHEREOF, each of the parties hereto has duly executed this Securities Pledge
Agreement as of the date first written above.

	 	 	 	 	 
	 

	 	“Pledgor”:	 	 
	 
	 	 	 	 
	 

	 	GLOBAL EMPLOYMENT HOLDINGS, INC.	 	 
	 
	 	 	 	 
	 

	 	By: /s/ Howard Brill	 	 
	 

	 	 

Name: Howard Brill
	 	 
	 

	 	Title: Chief Executive Officer and President	 	 
	 

	 	10375 Park Meadows Dr., Suite 375	 	 
	 

	 	Lone Tree, CO 80124	 	 
	 

	 	Attention: Chief Financial Officer	 	 
	 

	 	Telephone: (303) 200-1545	 	 
	 

	 	FAX:           (303) 216-9533	 	 
	 

	 	E-Mail:           dhollenbach@gesnetwork.com	 	 
	 
	 	 	 	 
	 

	 	“Secured Party”:	 	 
	 
	 	 	 	 
	 

	 	CAPITALSOURCE FINANCE LLC	 	 
	 
	 	 	 	 
	 

	 	By: /s/ Albert Rocha	 	 
	 

	 	 

Name: Albert Rocha
	 	 
	 

	 	Title: Senior Counsel	 	 
	 

	 	4445 Willard Avenue, 12th Floor	 	 
	 

	 	Chevy Chase, MD 20815	 	 
	 

	 	Attention: Corporate Finance Group, Portfolio Manager	 	 
	 

	 	Telephone: (301) 841-2700	 	 
	 

	 	FAX:           (301) 841-2360	 	 
	 

	 	E-Mail:           krees@capitalsource.com	 	 

Securities Pledge Agreement

Global Employment Holdings, Inc.

(CapitalSource/Global Employment)

S-1

 

Securities Pledge Agreement

Schedule 1.1

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Certificate
	 	 	 	 	Identity of Pledged	 	Percentage of	 	Representing Such
	Pledgor	 	Name of Entity	 	Equity	 	Ownership	 	Securities
	Global
Employment
Holdings, Inc.

	 	Global Employment
Solutions, Inc.
	 	Common Stock
	 	 	100	%	 	No. 1
	 
	 	 	 	 	 	 	 	 	 	 
	Global
Employment
Holdings, Inc.

	 	Keystone Alliance,
Inc.
	 	Common Stock
	 	 	100	%	 	No. 1

Securities Pledge Agreement

Global Employment Holdings, Inc.

(CapitalSource/Global Employment)

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