Document:

EX-10.1

 

Exhibit 10.1

JOHN
E. ZAWACKI

PRESIDENT AND CEO

August 15, 2006

Mr. Al Lopez

128 Cedar Woods Trail

Canton, GA 30114

Dear Al:

I am delighted to offer you the position of Chief Financial Officer (CFO) and Chief Operations
Officer (COO) for Blair Corporation, with a prospective starting date of September 11, 2006, and
I’m confident that you will be a major contributor to our continued success. This offer includes
the following total compensation package as a Grade 6 Executive Officer:

	•	 	A base annual salary of $370,000, paid biweekly.
	 
	•	 	A signing bonus of $50,000, payable within two weeks of your starting date with the Company.
	 
	•	 	Annual incentive compensation which equates to: 46% of annual base salary paid
assuming “target” income is achieved, and 92% of annual base salary paid if “stretch” income
objectives are met. Incentive compensation is pro-rated for full portion of active employment
in the year of hire.
	 
	•	 	An equity component of 20,000 shares of restricted stock (time vested in equal
annual increments of 4,000 shares over five years beginning in 2007) will be awarded to you
on October 17, 2006, following Board approval on that date, and under the terms of a
Restricted Stock Award Agreement as provided for in the Company’s Omnibus Stock Plan. In
subsequent years, you will be eligible for additional annual grants of restricted shares in
accordance with our policy for Grade 6 executive officers subject to the Compensation
Committee’s authorization and the Board’s approval of such grants. Unvested restricted stock
shall immediately vest in the event of your death, or change of control in the Company (as
defined in Section 5 of the Restricted Stock Award Agreement), and the vesting schedule shall
continue in the event that you retire from the Company (pursuant to and in accordance with
the Company’s retirement policies and practices), become permanently disabled or are
terminated without “material cause.” “Material cause” is herein defined as insubordination,
financial dishonesty against BLAIR, continued failure or refusal to perform the duties
assigned to you after notice and reasonable opportunity to correct the performance, willful
neglect of duties assigned to you, or commission of an act of moral turpitude. Unvested
award shares are forfeited in the event of your voluntary termination, or termination with
“material cause.”
	 
	•	 	Participation (commencing in 2007) in the Company’s Performance Share Program.
This Program consists of consecutive three-year performance periods with the level of awards
based on the Company’s performance relative to established
goals. Awards may be settled in shares, cash or a combination of both as determined by the Compensation Committee and the
Board at the conclusion of the performance period. The range of potential awards extends from
50% to 200% of “target.”

 

Adelmo S. Lopez

August 15, 2006

Page 2

	•	 	Participation in the Company’s 401(k) Plan after completing six months of
service, where the Company matches employees’ contributions to the Plan (on a pre-tax basis)
up to 5% of base salary. The Company’s contributions are immediately vested.

	•	 	Four weeks (20 days) of vacation upon hire, and the accrual of vacation
thereafter at the rate of 20 days annually. Any portion of your current year vacation that is
carried forward to the ensuing year is redeemable for cash compensation each calendar quarter
– unless carried forward.

	•	 	Five “personal days” upon hire, of which any unused days are redeemable for cash
compensation, and the receipt of five personal days each calendar year thereafter.

	•	 	Six months of temporary housing in a Company apartment to provide time for you
and your family to find suitable housing as you transition to this area. If after six months,
housing has still not been found, additional arrangements may be made in accordance with
company policy to accommodate your personal needs. In addition, the Company will provide up
to three roundtrip airfares between your current home and this area to facilitate house
hunting and the necessary transition period. You will be compensated for the extra income tax
liability you may incur from these arrangements.

	•	 	A complete relocation package, including 100 percent coverage of pre-approved
moving of your household goods, will be provided to you. Closing costs (assuming you purchase
a home within twelve months of your effective hire date) shall include all closing costs
associated with your purchase of a new residence in the Warren, Pennsylvania area, including
title insurance, mortgage application fees, routine legal fees related to home purchase,
recording of deeds and mortgages, notary fees, state transfer tax and appraisal and
inspection fees. In the event that you are selling a home, the Company shall also reimburse
you at the time of sale of your home in the amount of the normal and customary closing costs
associated with such sale.

	•	 	A group term life insurance benefit equal to your base salary, rounded up to the next highest $1,000.
	 
	•	 	Immediate full medical and dental coverage consistent with the BLAIR benefit plans.

	•	 	Disability insurance which provides 52 weeks of full pay through the Company as
sick time followed by 66 2/3 percent of pay through a disability plan.

	•	 	A severance agreement that includes 18 months of base salary in effect at the
time should BLAIR elect to terminate you without “material cause” (as previously defined).
During the time you are receiving the severance payments you will remain eligible to
participate in the Blair Corporation Medical and Dental Plan (“Health Plan”) and Vision Plan,
at the current level of coverage on the same terms as those applicable to an active employee.
Your eligibility to participate in the Health Plan will terminate on the earlier of the last
day of the Severance Period or the date you become covered by another employer-sponsored
group health plan. BLAIR will also offer outplacement services to a provider selected by you
for a not-to-exceed amount of $10,000.

	•	 	Upon occurrence of a Change in Control of the Company, as defined in Section 4(A)
of the Change in Control Severance Agreement, forwarded under separate cover, followed by
termination of Executive’s employment within three years following the Change in Control, the
“Severance Period” shall mean 36 .

 

Adelmo S. Lopez

August 15, 2006

Page 3

Please refer to the Change in Control Agreement, section (5) A-G, “Termination of Benefits”
for further detail regarding compensation and benefits.

If you resign anytime within the first year of your employment here, you agree to repay to BLAIR
100% of each of the following:

	•	 	Any signing bonus provided to you
	 
	•	 	Relocation expenses covered by BLAIR
	 
	•	 	Any personal use airfares BLAIR covered for you and your spouse

If you resign anytime between the end of your first year and the end of your second year, you agree
to repay to BLAIR 50% of each of the following:

	•	 	Any signing bonus provided to you
	 
	•	 	Relocation expenses covered by BLAIR
	 
	•	 	Any personal use airfares BLAIR covered for you and your spouse

As a matter of course, you agree not to disclose or use BLAIR confidential information for any
purpose other than performing your duties for BLAIR and will comply with BLAIR’s policies regarding
confidential information. This obligation extends during your employment with BLAIR and after the
date of termination of that employment. Also, for a period of one year following the termination of
your employment for any reason, voluntary or involuntary, you will not work for any person or
entity that directly competes with BLAIR or solicit any BLAIR executive officer or director for
employment with another entity.

As a final note, all offers of employment at Blair Corporation are contingent upon passing a drug
screening. This will be part of your agenda on your first day.

Al, the senior management team and I are looking forward to having you join our team. In the
interim, if you have any questions, please don’t hesitate to give me a call.

Sincerely,

John E. Zawacki

Chief Executive Officer

JEZ/tar

The terms contained in this letter constitute the entire agreement between you and BLAIR and there
are no other terms or conditions that have been offered by BLAIR to induce you to accept this
offer. If the terms are agreeable to you, please sign one copy of the letter in the appropriate
space at the bottom and return it to me directly.

 

Adelmo S. Lopez

August 15, 2006

Page 4

	 	 	 
	 
	 	 
	 
	Signature

	 	Date

Your signature above signifies your agreement and acceptance of our offer. As is BLAIR’s policy,
your employment will be “AT WILL” so that either you or the Company may terminate your employment
at any time and for any reason or no reason.exv10w1

 

Exhibit-10.1

EXECUTION VERSION

CONSENT AND FIRST AMENDMENT TO CREDIT AGREEMENT

     THIS CONSENT AND FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of
March 31, 2006 by and among COMSYS SERVICES LLC, a Delaware limited liability company (“COMSYS
Services”), COMSYS INFORMATION TECHNOLOGY SERVICES, INC., a Delaware corporation (“COMSYS IT”),
PURE SOLUTIONS, INC., a California corporation (“Pure Solutions”; COMSYS Services, COMSYS IT and
Pure Solutions are referred to herein each individually as a “Borrower” and collectively as the
“Borrowers”), COMSYS IT PARTNERS, INC., a Delaware corporation (“Holdings”), PFI LLC, a Delaware
limited liability company (“PFI”), COMSYS Services, acting in its capacity as borrowing agent and
funds administrator for the Borrowers (in such capacity, the “Funds Administrator”), the financial
institutions from time to time parties thereto (the “Lenders”), MERRILL LYNCH CAPITAL, a division
of Merrill Lynch Business Financial Services Inc., individually as a Lender, as administrative
agent (the “Agent”), Sole Bookrunner and Sole Lead Arranger, ING CAPITAL LLC, as co-documentation
agent and as a Lender, ALLIED IRISH BANKS PLC, as co-documentation agent (together with ING Capital
LLC, the “Co-Documentation Agents”) and as a Lender, and GMAC COMMERCIAL FINANCE LLC, as
syndication agent (the “Syndication Agent”) and as a Lender.

W I T N E S S E T H:

     WHEREAS, the Borrowers, Holdings, PFI, the Agent, the Co-Documentation Agents, the Syndication
Agent and each Lender are parties to that certain Credit Agreement dated as of December 14, 2005
(as the same may be amended, restated, supplemented or otherwise modified and in effect from time
to time, the “Credit Agreement”);

     WHEREAS, on the Closing Date, COMSYS Services owned two hundred forty eight (248) shares of
the common stock of VTP-CA, Inc., a North Carolina corporation (“VTPCA”);

     WHERAS, the Borrowers have requested that the Agent and the Lenders (a) consent to the
acquisition (the “Acquisition”) by COMSYS Services of the remainder of the issued and outstanding
capital stock of VTPCA, which shall change its name (the “COMSYS Canada Name Change”) to COMSYS IT
Canada, Inc., a North Carolina corporation (VTPCA, following the consummation of the Acquisition
shall be referred to herein as “COMSYS Canada”) following the consummation of the Acquisition and
(b) amend the Credit Agreement as hereinafter set forth; and

     WHEREAS, the Agent and the Lenders agree to accommodate such requests of the Credit Parties,
on the terms and subject to the conditions herein set forth.

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

     1. Defined Terms. Capitalized terms used but not defined herein shall have the
meanings ascribed to them in the Credit Agreement.

 

 

     2. Amendments. Effective as of the date of the Acquisition, upon satisfaction of the
conditions precedent set forth in Section 5 hereof, the Credit Agreement is amended as set forth in
this Section 2:

     (a) Section 1.1. Section 1.1 of the Credit Agreement is hereby amended by adding
thereto the following defined terms and their respective definitions in the correct alphabetical
order:

“COMSYS Canada” means, prior to the consummation of the COMSYS Canada Name Change,
VTP-CA, Inc., a North Carolina corporation, and following the consummation of the
COMSYS Canada Name Change, COMSYS IT Canada, Inc., a North Carolina corporation.

“COMSYS Canada Name Change” means the change of the legal name of VTP-CA, Inc. to
COMSYS IT Canada, Inc., which shall be filed with the Secretary of State of the
State of North Carolina after the First Amendment Effective Date.

“First Amendment” means that certain Consent and First Amendment to Credit Agreement
dated as of the First Amendment Effective Date by and among the Borrowers and
certain other Credit Parties, the Agent, the Co-Documentation Agents, the
Syndication Agent and the Lenders.

“First Amendment Effective Date” means March 31, 2006.

     (b) Section 1.1. Section 1.1 of the Credit Agreement is hereby further amended by
substituting the following definition of the term “Credit Party” set forth below in lieu of the
current version of such definition contained in Section 1.1 of the Credit Agreement:

“Credit Party” means Holdings, PFI, each Borrower, COMSYS Canada and each of their
respective Subsidiaries.

     (c) Section 3.4. Section 3.4 of the Credit Agreement is hereby deleted in its entirety
and the following is substituted in lieu thereof:

“Section 3.4 Capitalization.

     The authorized equity securities of each of the Credit Parties as of the Closing
Date is as set forth on the Information Certificate. All issued and outstanding
equity securities of each of the Credit Parties are duly authorized and validly
issued, fully paid, nonassessable, and, solely with respect to the equity securities
of PFI, each Borrower, COMSYS Canada and each of their respective Subsidiaries, free
and clear of all Liens other than those in favor of Agent for the benefit of Agent
and Lenders and other Liens permitted pursuant to Section 5.2(d) and Section 5.2(h),
and all such equity securities of each Credit Party were issued in compliance with
all applicable state, federal and foreign laws concerning the issuance of securities.
The identity of the holders of the equity securities of each of the Credit Parties
and the percentage of their fully-diluted ownership of the

2

 

equity securities of each
of the Credit Parties as of the Closing Date is set forth on
the Information Certificate. Holdings owns all of the issued and outstanding
equity securities of COMSYS IT and PFI. COMSYS IT owns all of the issued and
outstanding equity securities of COMSYS Services, Pure Solutions and COMSYS Limited.
COMSYS Services owns all of the issued and outstanding equity securities of COMSYS
Canada. No shares of the capital stock or other equity securities of any Credit
Party, other than those described above, are issued and outstanding. Except as set
forth on the Information Certificate, as of the Closing Date there are no preemptive
or other outstanding rights, options, warrants, conversion rights or similar
agreements or understandings for the purchase or acquisition from any Credit Party of
any equity securities of any such entity.”

     (d) Section 5.8(j). Section 5.8(j) of the Credit Agreement is hereby deleted in its
entirety and the following is substituted in lieu thereof:

“Investments of Holdings (to the extent owned by Holdings on the Closing Date) in
the capital stock or other equity securities of (i) Econometrix, Inc., a California
corporation, (ii) AutoHire Development, Inc. and (iii) PFI, provided, in each case,
all of the outstanding capital stock or other equity interests of any such Person
owned by Holdings has been pledged to Agent;”

     (e) Section 9.1. Section 9.1(j) of the Credit Agreement is hereby deleted in its
entirety and the following is substituted in lieu thereof:

“(j) (1) any person or group of persons (within the meaning of the Securities Exchange Act
of 1934) (other than Wachovia Investors, Inc. and its Affiliates) shall have acquired
beneficial ownership (within the meaning of Rule 13d-3 under the Securities Exchange Act of
1934) of fifty percent (50%) or more of the issued and outstanding shares of capital stock
of Holdings having the right to vote for the election of the directors of Holdings under
ordinary circumstances, (2) Holdings shall cease to directly own and control one hundred
percent (100%) of each class of the outstanding equity interests of COMSYS IT and PFI, (3)
COMSYS IT shall cease to directly own and control one hundred percent (100%) of the equity
interests of COMSYS Services, Pure Solutions and COMSYS Limited, (4) COMSYS Services shall
cease to directly own and control one hundred percent (100%) of the equity interests of
COMSYS Canada, (5) each Borrower shall cease to, directly or indirectly, own and control one
hundred percent (100%) of each class of the outstanding equity interests of each Subsidiary
of such Borrower (except, with respect to clauses (2), (3), (4) and (5), to the extent
permitted in Section 5.7(a)), (6) any “Change in Ownership,” “Fundamental Change,” or terms
of similar import occurs under the Holdings Certificate of Designations, or (7) a period of
ninety (90) consecutive days shall have elapsed during which Larry L. Enterline shall cease
to be the chairman of the board, chief executive officer or president of each Credit Party
for any reason unless prior to the expiration of such time, a replacement reasonably
satisfactory to Agent shall have been appointed and employed, or”

     3. Consent. Effective as of the date hereof, upon satisfaction of the conditions
precedent set forth in Section 5 hereof, and in reliance upon the representations and warranties of
the Credit Parties set forth in the Credit Agreement and in this Amendment, and notwithstanding

3

 

anything to the contrary contained in the Credit Agreement or any other Financing Document, the
Agent and the Lenders consent to the Acquisition, the COMSYS Canada Name Change and
the Corresponding Second Lien Amendment (as defined below) and agree and acknowledge that the
Acquisition shall constitute an Investment permitted under Section 5.8 of the Credit Agreement
(without reliance upon Section 5.8(l) of the Credit Agreement); provided, that the foregoing
consents are conditioned on the Borrowers’ delivery to Agent of the following documents no later
than September 30, 2006: (i) a guaranty by COMSYS Canada (the “Subsidiary Guaranty”) whereby COMSYS
Canada shall guaranty all Obligations of the Borrowers under the Credit Agreement, (ii) a Joinder
to Credit Agreement and Information Certificate whereby COMSYS Canada shall become a “Credit Party”
under the Credit Agreement, (iii) a pledge amendment whereby COMSYS Services shall pledge one
hundred percent of the capital stock of COMSYS Canada to the Agent, for the benefit of the Lenders,
together with all stock certificates of COMSYS Canada, assignments separate from certificate,
proxies and other documents as the Agent reasonably shall request, pursuant to which the Agent
shall have received, for the benefit of the Lenders, a first priority security interest in all of
the issued and outstanding capital stock of COMSYS Canada, (iv) a security agreement executed by
COMSYS Canada securing all of its obligations under the Subsidiary Guaranty, (v) a certificate of
the Secretary of COMSYS Canada certifying: (A) the names and true signatures of the officers of
COMSYS Canada authorized to execute, deliver and perform all obligations under the Financing
Documents to which it is a party; (B) copies of the resolutions of the board of directors or other
governing body of COMSYS Canada approving and authorizing the execution, delivery and performance,
as applicable, of all other documents, instruments or agreements to be executed or delivered in
connection herewith; and (C) the Organizational Documents of COMSYS Canada which, if applicable,
shall be certified by the Secretary of State of North Carolina as of a recent date, and (vi) all
other agreements, instruments and documents as the Agent may reasonably request, and the Borrowers
shall take such additional actions as the Agent may reasonably require in order (A) to carry out
more effectively the purposes of the Credit Agreement and the other Financing Documents, (B) to
subject to the Liens created by any of the Security Documents any of the properties, rights or
interests covered by any of the Security Documents, (C) to perfect and maintain the validity,
effectiveness and priority of any of the Security Documents and the Liens intended to be created
thereby, and (D) to better assure, convey, grant, assign, transfer, preserve, protect and confirm
to the Agent and Lenders the rights granted or intended to be granted to the Agent and the Lenders
under any Financing Document or under any other document executed in connection therewith.

     4. Waiver of Mandatory Prepayments in Connection with the unused portion of the 2006
Equity Issuance. Effective as of the date hereof, upon satisfaction of the conditions
precedent set forth in Section 5 hereof and in reliance upon the representations and warranties of
the Credit Parties set forth in the Credit Agreement, the other Financing Documents and in this
Amendment, and notwithstanding anything to the contrary contained in the Credit Agreement or any
other Financing Document (including, without limitation, Section 2.1(c)(iii)(D)(4), Section 2.1(e)
and Section 2.2(c)(iv) of the Credit Agreement), the Agent and the Lenders hereby agree to waive
the applicability of Sections 2.1(c)(iii)(D)(4), 2.1(e) and 2.2(c)(iv) of the Credit Agreement
solely with respect to the 2006 Equity Issuance Available Amount, which such amount constitutes the
unused portion of the Net Cash Proceeds received in connection with the 2006 Equity Issuance.

4

 

     5. Conditions Precedent. The effectiveness of this Amendment is subject to the
satisfaction of the following conditions precedent:

	 	(a)	 	delivery to the Agent of this Amendment executed by each Credit
Party that is a party hereto, the Agent and the Lenders in form and substance
reasonably satisfactory to the Agent;
	 
	 	(b)	 	the delivery to Agent of a copy of the fully executed consent
and amendment to the Second Lien Debt Documents regarding the substance of this
Amendment (which shall include, without limitation, the Second Lien Lenders’
consent to the transactions contemplated by Section 3 of this Amendment) (the
“Corresponding Second Lien Amendment”), in form and substance reasonably
acceptable to the Agent, and evidence that all conditions contained in such
consent and amendment (other than the effectiveness of this Amendment) have
been satisfied;
	 
	 	(c)	 	the truth and accuracy of the representations and warranties
contained in Section 6 hereof; and
	 
	 	(d)	 	no Default or Event of Default under the Credit Agreement, as
amended hereby, shall have occurred and be continuing.

     6. Representations and Warranties. Each Credit Party that is a party hereto hereby
represents and warrants to the Agent and each Lender as follows:

	 	(a)	 	the representations and warranties of the Borrowers and the
other Credit Parties contained in the Financing Documents are true and correct
in all material respects as of the date hereof, except to the extent that any
such representation or warranty (i) relates to a specific date, in which case
such representation and warranty shall be true and correct in all material
respects as of such earlier date or (ii) is qualified by materiality or has
Material Adverse Effect qualifiers, in which case, such representations and
warranties shall be true and correct in all respects;
	 
	 	(b)	 	the execution, delivery and performance by such Credit Party of
this Amendment are within its powers, have been duly authorized by all
necessary action pursuant to its Organizational Documents, require no further
action by or in respect of, or filing with, any governmental body, agency or
official (other than (i) routine corporate, tax, ERISA, intellectual property,
environmental filings and other filings from time to time necessary in
connection with the conduct of such Credit Party’s business in the ordinary
course, and (ii) recordings and filings in connection with the Liens granted to
the Agent under the Financing Documents) and do not violate, conflict with or
cause a breach or a default under any provision of applicable law or regulation
or of the Organizational Documents of any Credit Party or of any agreement,
judgment, injunction, order, decree or other instrument binding upon it,

5

 

	 	 	 	except
for such failures to file, violations, conflicts, breaches or defaults as could
not reasonably be expected to have a Material Adverse Effect;
	 
	 	(c)	 	this Amendment constitutes the valid and binding obligation of
the Credit Parties that are parties hereto, enforceable against such Persons in
accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, or similar laws relating to the
enforcement of creditor’s rights generally and by general equitable
principles; and
	 
	 	(d)	 	after giving effect to this Amendment, no Default or Event of
Default exists or will result from the consummation of the Acquisition.

     7. No Waiver. Except as expressly set forth herein, nothing contained herein shall be
deemed to constitute a waiver of compliance with any term or condition contained in the Credit
Agreement or any of the other Financing Documents or constitute a course of conduct or dealing
among the parties. Except as expressly stated herein, the Agent and Lenders reserve all rights,
privileges and remedies under the Financing Documents. Except as amended or consented to hereby,
the Credit Agreement and other Financing Documents remain unmodified and in full force and effect.
All references in the Financing Documents to the Credit Agreement shall be deemed to be references
to the Credit Agreement as amended and waived hereby.

     8. Severability. In case any provision of or obligation under this Amendment shall be
invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of
the remaining provisions or obligations, or of such provision or obligation in any other
jurisdiction, shall not in any way be affected or impaired thereby.

     9. Headings. Headings and captions used in this Amendment (including the Exhibits,
Schedules and Annexes hereto, if any) are included for convenience of reference only and shall not
be given any substantive effect.

     10. GOVERNING LAW; SUBMISSION TO JURISDICTION. THIS AMENDMENT SHALL BE GOVERNED BY,
AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF ILLINOIS, WITHOUT
REGARD TO CONFLICTS OF LAWS PRINCIPLES. EACH CREDIT PARTY HEREBY CONSENTS TO THE JURISDICTION OF
ANY STATE OR FEDERAL COURT LOCATED WITHIN THE COUNTY OF COOK, STATE OF ILLINOIS AND IRREVOCABLY
AGREES THAT, SUBJECT TO THE AGENT’S ELECTION, ALL ACTIONS OR PROCEEDINGS ARISING OUT OF OR RELATING
TO THIS AMENDMENT OR THE OTHER FINANCING DOCUMENTS SHALL BE LITIGATED IN SUCH COURTS. EACH CREDIT
PARTY EXPRESSLY SUBMITS AND CONSENTS TO THE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY
DEFENSE OF FORUM NON CONVENIENS. EACH CREDIT PARTY HEREBY WAIVES PERSONAL SERVICE OF ANY AND ALL
PROCESS AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE UPON SUCH PERSON BY CERTIFIED OR
REGISTERED MAIL, RETURN RECEIPT REQUESTED, ADDRESSED C/O THE FUNDS ADMINISTRATOR AT THE ADDRESS

6

 

SET
FORTH IN THE CREDIT AGREEMENT AND SERVICE SO MADE SHALL BE COMPLETE TEN (10) DAYS AFTER THE SAME
HAS BEEN POSTED.

     11. WAIVER OF JURY TRIAL. EACH CREDIT PARTY, THE AGENT AND THE LENDERS HEREBY
IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT
OF OR RELATING TO THE FINANCING DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED THEREBY AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A
COURT AND NOT BEFORE A JURY.

     12. Counterparts; Integration. This Amendment may be executed and delivered via
facsimile with the same force and effect as if an original were executed and may be signed in any
number of counterparts, each of which shall be an original, with the same effect as if the
signatures hereto were upon the same instrument. This Amendment constitutes the entire agreement
and understanding among the parties hereto with respect to the subject matter hereof and supersedes
any and all prior agreements and understandings, oral or written, relating to the subject matter
hereof.

     13. Reaffirmation. Each of the Credit Parties that is a party hereto, as debtor,
grantor, pledgor, guarantor, assignor, or in other any other similar capacity in which such Credit
Party grants liens or security interests in its property or otherwise acts as accommodation party
or guarantor, as the case may be, hereby (i) ratifies and reaffirms all of its payment and
performance obligations, contingent or otherwise, under each of the Financing Documents to which it
is a party (after giving effect hereto) and (ii) to the extent such Credit Party granted liens on
or security interests in any of its property pursuant to any such Financing Document as security
for or otherwise guaranteed the Borrowers’ Obligations under or with respect to the Financing
Documents, ratifies and reaffirms such guarantee and grant of security interests and liens and
confirms and agrees that such security interests and liens hereafter secure all of the Obligations
as amended hereby. Each of the Credit Parties hereby consents to this Amendment and acknowledges
that each of the Financing Documents remains in full force and effect and is hereby ratified and
reaffirmed, subject to the amendments, consents and waivers set forth herein. The execution of
this Amendment shall not operate as a waiver of any right, power or remedy of the Agent or Lenders
or constitute a waiver of any provision of any of the Financing Documents (except as expressly set
forth herein) or serve to effect a novation of the Obligations.

[remainder of page intentionally left blank;

signature pages follow]

7

 

     IN WITNESS WHEREOF, the parties have executed this Amendment as of the date set forth above.

	 	 	 	 	 	 	 
	 	 	BORROWERS :	 	 
	 
	 	 	 	 	 	 
	 	 	COMSYS SERVICES LLC, a Delaware limited liability
company, as the Funds Administrator and as a Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ David L. Kerr
 

	 	 
	 

	 	Name:
	 	David L. Kerr	 	 
	 

	 	Title:
	 	Senior Vice President – Corporate Development	 	 
	 
	 	 	 	 	 	 
	 	 	COMSYS INFORMATION TECHNOLOGY SERVICES, INC., a
Delaware corporation, as a Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ David L. Kerr	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	David L. Kerr	 	 
	 

	 	Title:
	 	Senior Vice President – Corporate Development	 	 
	 
	 	 	 	 	 	 
	 	 	PURE SOLUTIONS, INC., a Delaware corporation, as a
Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ David L. Kerr	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	David L. Kerr	 	 
	 

	 	Title:
	 	Senior Vice President – Corporate Development	 	 

Consent and First Amendment to Credit Agreement

(COMSYS)

 

 

     IN WITNESS WHEREOF, the parties have executed this Amendment as of the date set forth above.

	 	 	 	 	 	 	 
	 	 	OTHER CREDIT PARTIES
:	 	 
	 
	 	 	 	 	 	 
	 	 	COMSYS IT PARTNERS, INC., a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ David L. Kerr
 

David L. Kerr
	 	 
	 

	 	Title:
	 	Senior Vice President – Corporate Development	 	 
	 
	 	 	 	 	 	 
	 	 	PFI LLC, a Delaware limited liability company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ David L. Kerr	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	David L. Kerr	 	 
	 

	 	Title:
	 	Senior Vice President – Corporate Development	 	 

Consent and First Amendment to Credit Agreement

(COMSYS)

 

 

     IN WITNESS WHEREOF, the parties have executed this Amendment as of the date set forth above.

	 	 	 	 	 	 	 
	 	 	AGENT AND LENDER:	 	 
	 
	 	 	 	 	 	 
	 	 	MERRILL LYNCH CAPITAL, a division of Merrill Lynch
Business Financial Services Inc.,
as Agent and a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Scott E. Gast
 

Scott E. Gast
	 	 
	 

	 	Title:
	 	Vice President	 	 

Consent and First Amendment to Credit Agreement

(COMSYS)

 

 

     IN WITNESS WHEREOF, the parties have executed this Amendment as of the date set forth above.

	 	 	 	 	 	 	 
	 	 	LENDERS:	 	 
	 
	 	 	 	 	 	 
	 	 	GMAC COMMERCIAL FINANCE LLC, as Syndication Agent and
as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Thomas Brent
 

Thomas Brent
	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	ING CAPITAL LLC, as Co-Documentation Agent and as a
Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Daryn K. Venéy	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Daryn K. Venéy	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	ALLIED IRISH BANKS PLC, as Co-Documentation Agent and
as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Martin Chin	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Martin Chin	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Joanna McFadden	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Joanna McFadden	 	 
	 

	 	Title:
	 	Assistant Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	NORTH FORK BUSINESS CAPITAL CORPORATION, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ari Kaplan	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Ari Kaplan	 	 
	 

	 	Title:
	 	Vice President	 	 

Consent and First Amendment to Credit Agreement

(COMSYS)

 

 

     IN WITNESS WHEREOF, the parties have executed this Amendment as of the date set forth above.

	 	 	 	 	 	 	 
	 	 	LENDERS (CONT.):	 	 
	 
	 	 	 	 	 	 
	 	 	AIB DEBT MANAGEMENT, LIMITED, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Martin Chin
 

Martin Chin
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Joanna McFadden	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Joanna McFadden	 	 
	 

	 	Title:
	 	Assistant Vice President	 	 

Consent and First Amendment to Credit Agreement

(COMSYS)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]