Document:

Exhibit
4.2

 

FIRST AMENDMENT TO
GUARANTY AGREEMENT

 

This FIRST AMENDMENT TO
GUARANTY AGREEMENT dated as of July 15, 2003 and effective as of June 1, 2003
(this “Amendment”), is made by WYNNCHURCH CAPITAL PARTNERS, L.P., a
Delaware limited partnership (“Wynnchurch USA”, and WYNNCHURCH CAPITAL
PARTNERS CANADA, L.P., an Alberta, Canada limited partnership (“Wynnchurch
Canada”, and collectively with Wynnchurch USA, the “Guarantors”),
and FLEET CAPITAL CORPORATION (the “Lender”).

 

W I T N E S S E T
H

 

WHEREAS, Alternative
Resources Corporation (“ARC”), ARC Service, Inc., ARC Solutions, Inc.,
ARC Midholding, Inc., Writers Inc., ARC Technology Management LLC, ARC Staffing
Management LLC, and ARC Shared Services LLC (collectively, the “Borrowers”)
and the Lender are parties to a Credit and Security Agreement dated as of
January 31, 2002 (as amended, supplemented or otherwise modified from time to
time, including, without limitation, by the Sixth Amendment described below)
the “Credit Agreement”), pursuant to which the Lender has agreed,
subject to the terms and conditions set forth therein, to make loans and other
extensions of credit to the Borrowers;

 

WHEREAS, the Credit
Agreement provides for the Lender to make overadvances (the “Overadances”)
for the benefit of the Borrowers until December 31, 2003, or such later date as
the Lender may agree in writing, in an aggregate amount outstanding from time
to time of up to $2,000,000 (the “Overadvance Limit”), as reduced from
time to time;

 

WHEREAS, Wynnchurch has
executed and delivered a Guaranty Agreement dated as of April 14 2003 (the “Guaranty
Agreement”), pursuant to which Wynnchurch has guarantied to the Lender the
repayment of the Overadvances up to the Overadvance Limit, as reduced from time
to time;

 

WHEREAS, the terms of the
Credit Agreement and the Guaranty Agreement respectively provide that the
Overadvance Limit and the amount of Overadvances guarantied by Wynnchurch shall
respectively be reduced from time to time upon the payment in cash by
Bluecurrent, Inc. (“Bluecurrent”) to the Borrowers of amounts due in
respect of accounts receivable owing by Bluecurrent to the Borrowers (the “Bluecurrent
Receivables”), on a dollar for dollar basis in an amount equal to such
payments;

 

WHEREAS, the Borrowers
received a payment on or about May 29, 2003 in the amount of approximately
$850,000 in respect of the Bluecurrent Receivables (the “Initial Bluecurrent
Payment”) and have requested that the Lender enter into a Sixth Amendment
to Credit Agreement dated as of the date hereof (the “Sixth Amendment”)
whereby the Credit Agreement would be amended to eliminate the reduction of the
Overadvance Limit resulting from the payment of the Initial Bluecurrent
Payment, so that only payments received in respect of the Bluecurrent Receivables
after the Initial Bluecurrent Payment shall result in a reduction of the
Overadvance Limit, on a dollar for dollar basis in an amount equal to such
payments;

 

 

WHEREAS, it is a
condition to the Lender’s agreement to enter into the Sixth Amendment that
Wynnchurch shall have agreed to amend the Guaranty Agreement to eliminate the
automatic reduction in the amount of Overadvances guarantied thereunder
resulting from the Initial Bluecurrent Payment, so that only payments received
in respect of the Bluecurrent Receivables after the Initial Bluecurrent Payment
shall result in a reduction of the amount of Overadvances guarantied under the
Guaranty Agreement;

 

NOW, THEREFORE, in order to induce the Lender to enter
into the Sixth Amendment and to continue to make Loans and Overadvances to the
Borrowers as provided in the Credit Agreement, and for other good and valuable
consideration, receipt of which is hereby acknowledged by the Guarantors, the
Guarantors hereby agree as follows:

 

1.                                       Capitalized
Terms.

 

Capitalized terms used
herein which are defined in the Guaranty Agreement have the same meanings
herein as therein, except to the extent that such meanings are amended hereby.

 

2.                                       Amendments
to Guaranty Agreement.

 

The Guarantors and the
Lender hereby agree that the Guaranty Agreement is amended, effective as of
June 1, 2003, as follows:

 

(a)                                  Amendment
to Section 1 of the Guaranty Agreement. 
The following new definition of “Initial Bluecurrent Payment” is
hereby inserted in Section 1 of the Guaranty Agreement in appropriate
alphabetical order:

 

“Initial Bluecurrent Payment” means an initial payment, in the
amount of approximately $850,000, paid on or about May 29, 2003 by Bluecurrent
to the Borrowers in respect of certain disputed accounts receivable owing by Bluecurrent
to the Borrowers.

 

(b)                                 Amendment to
Section 2(b) of the Guaranty Agreeent.  Section 2(b) of the Guaranty Agreement is hereby amended and
restated in its entirety as follows:

 

(b)                                 Notwithstanding
any provision of this Agreement to the contrary, the obligations of the
Guarantors under this Agreement shall not exceed the sum of (i) $2,000,000 (the
“Initial Guaranty Amount”), plus (ii) in the event any payment to
be made by the Guarantors hereunder is not made when due, interest at the
Post-Default Rate accruing on such unpaid amount from the date such amount
became due hereunder, plus (iii) the reasonable expenses (including fees
and expenses of counsel), if any, incurred by the Lender in enforcement of and
collection under this Agreement. The parties hereto agree that the Initial
Guaranty Amount shall be reduced from time to time, upon the payment in cash by
Bluecurrent to the Borrowers of amounts due in respect of the Bluecurrent
Receivables, on a dollar for dollar basis in an amount equal to such cash
payments; provided that no such reduction in the Initial Guaranty Amount
shall become effective until three days after (a) the Lender has received

 

2

 

written notice
from the Borrowers of the receipt of the applicable cash payment and (b) the
application of such cash payment to the outstanding Loans; and provided  further
that the Initial Guaranty Amount shall not be reduced as a result of the
Initial Bluecurrent Payment.

 

3.                                       Ratification.

 

The Guaranty Agreement,
as modified and amended by this Amendment, remains in full force and effect and
is hereby ratified and confirmed in all respects except that, upon and after
the effectiveness of the Sixth Amendment, each reference in the Guaranty
Agreement to the Credit Agreement shall mean and be a reference to the Credit
Agreement as amended by the Sixth Amendment. 
This amendment shall be deemed effective as of June 1, 2003.

 

4.                                       Representations
and Warranties.

 

The Guarantors hereby
represent, warrant and confirm that: (a) the representations and warranties of
the Guarantors contained in the Guaranty Agreement are true and correct on and
as of the date hereof as if made on such date (except to the extent that such
representations and warranties expressly relate to an earlier date); (b) the
Guarantors are in compliance with all of the covenants, terms and provisions
set forth in the Guaranty Agreement; and (c) the execution, delivery and
performance by the Guarantors of this Amendment (i) have been duly authorized by
all necessary action on the part of the Guarantors, (ii) will not violate any
applicable law or regulation or the organizational documents of any Guarantor,
(iii) will not violate or result in a default under any indenture, agreement or
other instrument binding on any Guarantor or any of its assets, and (iv) do not
require any consent, waiver or approval of or by any Person which has not been
obtained.

 

5.                                       Successors
and Assigns.

 

This Amendment shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns

 

6.                                       Counterparts;
Governing Law.

 

This Amendment may be
executed in any number of counterparts which together shall constitute one
agreement and delivery of an executed signature page by facsimile transmission
shall be effective as delivery of a manually executed counterpart.  This Amendment shall be governed and
construed in accordance with the laws (other than the conflict of laws rules)
of the Commonwealth of Massachusetts.

 

7.                                       Fee.

 

In
consideration for the Guarantors’ entry into this Amendment, ARC agrees to pay
Wynnchurch Capital, Ltd., the amount of One Hundred Twenty Five Thousand
Dollars ($125,000) (the “Amendment Payment”), payable in the manner set
forth in this Section 7, and Lender hereby consents to such payment.  The Amendment Payment shall be treated as if
it is an additional $125,000 of interest payable pursuant to that certain Note
dated as of January 31,

 

3

 

2002,
as amended, of ARC to Wynnchurch Canada, and that certain Note dated as of
January 31, 2002, as amended, of ARC to Wynnchurch USA (such notes
collectively, the “Notes”), in each case accrued as of the date
hereof.  The Amendment Payment shall
accrue interest as if it were interest accrued pursuant to the Notes.  Upon any payment of interest to Wynnchurch
Canada and Wynnchurch USA pursuant to the Notes, ARC shall also pay Wynnchurch
Capital, Ltd. its pro rata share of the Amendment Payment (as well as any
interest accrued thereon), in cash. Notwithstanding the foregoing, the
Amendment Payment shall be deemed to be a “Subordinated Obligation” pursuant to
the Subordination and Intercreditor Agreement dated as of January 31, 2002,
among the Guarantors, the Lender and the Borrowers (as amended, the “Subordination
Agreement”) and shall be deferred and not be paid, except as permitted
under the terms of the Credit Agreement and the Subordination Agreement,
treating the payment of the Amendment Payment as the payment of additional
interest pursuant to the Notes.

 

4

 

IN WITNESS WHEREOF, the parties have executed this
Amendment as a sealed instrument as of the date first above written.

 

	
   

  	
  GUARANTORS:

  
	
   

  	
   

  
	
   

  	
  WYNNCHURCH CAPITAL
  PARTNERS, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Wynnchurch Partners,
  L.P., its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Wynnchurch Management
  Inc.,

  
	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WYNNCHURCH CAPITAL
  PARTNERS CANADA, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Wynnchurch Partners
  Canada, L.P.,

  
	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Wynnchurch GP Canada,
  Inc.,

  
	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  LENDER:

  
	
   

  	
   

  
	
   

  	
  FLEET CAPITAL
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
								

 

5

 

The undersigned acknowledge
the foregoing Amendment and agree to be bound by the terms of Section 7
thereof.

 

	
  ALTERNATIVE RESOURCES
  CORPORATION

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  
	
  Title:

  
	
   

  
	
   

  
	
  ARC SERVICE, INC. 

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  
	
  Title:

  
	
   

  
	
   

  
	
  ARC SOLUTIONS, INC.

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  
	
  Title:

  
	
   

  
	
   

  
	
  ARC MIDHOLDING, INC.

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  
	
  Title:

  
	
   

  
	
   

  
	
  WRITERS INC.

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  
	
  Title:

  

 

6

 

	
  ARC TECHNOLOGY
  MANAGEMENT LLC

  
	
   

  
	
  By:  ARC SERVICE, INC., its Manager and sole
  member

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  
	
  Title:

  
	
   

  
	
  ARC STAFFING MANAGEMENT
  LLC

  
	
   

  
	
  By:  ARC SERVICE, INC., its Manager and sole
  member

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  
	
  Title:

  
	
   

  
	
  ARC SHARED SERVICES LLC

  
	
   

  
	
  By:  ARC SERVICE, INC., its Manager and sole
  member

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  
	
  Title:

  

 

7Exhibit
4.3

 

SEVENTH AMENDMENT TO
CREDIT AGREEMENT AND WAIVER

 

This SEVENTH AMENDMENT TO CREDIT AGREEMENT AND WAIVER
dated as of August 14, 2003 (this “Amendment”), is made by and among
Alternative Resources Corporation (“ARC”), ARC Service, Inc., ARC Solutions,
Inc., ARC Midholding, Inc., Writers Inc., ARC Technology Management LLC, ARC
Staffing Management LLC, and ARC Shared Services LLC (collectively, the “Borrowers”),
and Fleet Capital Corporation (the “Lender”).

 

WHEREAS, the Borrowers and the Lender are parties to a
Credit and Security Agreement dated as of January 31, 2002, as amended by
a First Amendment to Credit Agreement and Waiver dated as of August 8, 2001, a
Second Amendment to Credit Agreement dated as of August 30, 2002, a Third
Amendment to Credit Agreement dated as of November 14, 2002, a Waiver, Joinder
and Fourth Amendment to Credit Agreement dated as of December 27, 2002, a Fifth
Amendment to Credit Agreement and Waiver dated as of April 14, 2003, and a
Sixth Amendment to Credit Agreement dated as of July 15, 2003 (as so amended,
the “Credit Agreement”);

 

WHEREAS, ARC and its Subsidiaries failed to satisfy
(a) the Tangible Capital Base covenant set forth in Section 8.10(a) of the
Credit Agreement for the fiscal quarter ended June 30, 2003 and (b) the Fixed
Charge coverage shortfall covenant set forth in Section 8.10(c) for the six
month fiscal period ended June 30, 2003, and each such failure constitutes an
Event of Default under Section 9.1(c) of the Credit Agreement (collectively,
the “June 30, 2003 Events of Default”);

 

WHEREAS, the Credit Parties have requested that the
Lender waive the June 30, 2003 Events of Default as provided herein, and amend
certain provisions of the Credit Agreement; and

 

WHEREAS, the Lender has agreed to waive the June 30,
2003 Events of Default and to amend certain provisions of the Credit Agreement,
all subject to the terms, conditions and limitations set forth herein;

 

NOW, THEREFORE, in consideration of the foregoing and
the agreements contained herein, the parties hereby agree as follows:

 

1.             Capitalized Terms.

 

Capitalized terms used herein which are defined in the
Credit Agreement have the same meanings herein as therein, except to the extent
that such meanings are amended hereby.

 

2.             Waiver of June 30, 2003 Events of Default.

 

Subject to the satisfaction of the terms and
conditions set forth in Section 5 hereof, the Lender hereby waives the June 30,
2003 Events of Default.  The parties
agree that the foregoing waiver is limited solely to the Events of Default
arising out of the failure of ARC and its Subsidiaries to satisfy (a) the
Tangible Capital Base covenant set forth in Section 8.10(a) of the Credit
Agreement for the fiscal quarter ended June 30, 2003 and (b) the Fixed Charge
coverage shortfall covenant set forth in Section 8.10(c) for the six month
fiscal period ending June 30, 2003, and nothing herein shall be construed as a
waiver of any other presently existing or future Event of Default (including
without limitation, any Event of Default caused by reason of the failure of the
Borrowers to comply with Section 8.10(a) or Section 8.10(c) of the Credit
Agreement, as amended hereby, on any other occasion or for any other period) or
any failure of the Borrowers to comply with any other provision, term or condition
of the Loan Documents.

 

 

3.             Amendments.

 

Subject to the satisfaction of the terms and
conditions set forth in Section 5 hereof, the Borrowers and the Lender agree
that the Credit Agreement is hereby amended, effective as of the date hereof,
as follows:

 

(a)           Amendments to Section 1.1 of the Credit Agreement.  Section 1.1 of the Credit Agreement is
hereby amended as follows:

 

(i)            The definition of “Applicable
Margin” set forth in Section 1.1 of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

 

“’Applicable Margin’ means, effective as of
August 1, 2003, 2.00% per annum for Base Rate Loans.”

 

(ii)           The definition of “Borrowing Base”
set forth in Section 1.1 of the Credit Agreement is hereby amended by replacing
clause (c) contained therein in its entirety with the following new clause (c):

 

“(c)         the
lesser of:

 

(i)            70% of the aggregate of (x) Billed
Restricted Product Line Accounts and (y) Unbilled Restricted Product Line
Accounts, and

 

(ii)           $4,000,000,
minus”

 

(iii)          The definition of “Revolving Credit
Commitment” set forth in Section 1.1 of the Credit Agreement is hereby amended
by deleting the amount “$28,000,000” contained therein, and replacing it with
the amount “$23,000,000”.

 

(b)           Amendment to Section 7.6 of the Credit Agreement.  Section 7.6 of the Credit Agreement is
hereby amended by deleting the phrase “$800 per man-day” contained therein and
replacing it with the phrase “$850 per man-day”.

(c)           Amendment to Section 8.10 of the
Credit Agreement.  Section 8.10 of the
Credit Agreement is hereby amended and restated in its entirety to read as
follows:

 

“8.10       Certain
Financial Covenants.

 

(a)           Tangible Capital Base.  ARC and its Subsidiaries shall not (i) as of
September 30, 2003, have a consolidated Tangible Capital Base of less than
($5,000,000) or (ii) as of the end of any fiscal quarter commencing with
the fiscal quarter ending December 31, 2003, have a consolidated Tangible
Capital Base of less than the sum of (x) ($5,000,000) plus (y) on a cumulative
basis, 50% of positive consolidated net income (without reduction for losses)
for each fiscal quarter ending after September 30, 2003.

 

(b)           Fixed Charge Coverage Ratio.  The Fixed Charge Coverage Ratio of ARC and
its Subsidiaries shall not at any time during any period set forth below be
less than the ratio set opposite such period:

 

2

 

	
  Period

  	
   

  	
  Minimum
  Fixed

  Charge Coverage

  Ratio

  	
   

  
	
  January 1, 2004
  through March 31, 2004

  	
   

  	
  1.00 to 1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  January 1, 2004
  through June 30, 2004

  	
   

  	
  1.00 to 1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  January 1, 2004
  through September 30, 2004

  	
   

  	
  1.00 to 1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  January 1, 2004
  through December 31, 2004

  	
   

  	
  1.00 to 1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Thereafter (on a
  rolling four quarters basis)

  	
   

  	
  1.00 to 1.00

  	
   

  

 

(c)           Fixed Charge Coverage Shortfall.  The amount by which (i) the aggregate Fixed
Charges of ARC and its Subsidiaries for each fiscal period set forth below,
exceeds (ii) the total of (A) consolidated EBITDA of ARC and its Subsidiaries
for such period (determined on a consolidated basis without duplication in
accordance with GAAP) minus (B) the aggregate amount of all Non-Financed
Capital Expenditures during such period minus (C) the aggregate amount
paid, or required to be paid (without duplication), in cash in respect of the
current portion of all income taxes for such period minus (D) the aggregate
amount of dividends and distributions permitted to be paid under Section 8.6
and actually paid in cash during such period, shall not be greater than the
maximum shortfall amount set opposite such fiscal period:

 

	
  Fiscal Period

  	
   

  	
  Maximum
  Shortfall

  Amount

  	
   

  
	
  July 1, 2003
  through September 30, 2003

  	
   

  	
  $

  	
  650,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  July 1, 2003
  through December 31, 2003

  	
   

  	
  $

  	
  950,000

  	
   

  

 

(d)           Capital Expenditures.  The Credit Parties shall not make any
Capital Expenditures (including, without limitation, incurring any Capital
Lease Obligations) which, in the aggregate exceed $500,000 at any time during
any fiscal year, commencing with the fiscal year ending December 31,
2003.”

 

(c)           Amendment of
Exhibit D to the Credit Agreement. 
Exhibit D to the Credit Agreement is hereby replaced with the new form
of Exhibit D attached thereto.

 

4.             No Default; Representations and Warranties, etc.

 

The Borrowers
hereby represent, warrant and confirm that: (a) the representations and
warranties of the Credit Parties contained in Article 5 of the Credit Agreement
are true and correct on and as of the date hereof as if made on such date
(except to the extent that such representations and warranties expressly relate
to an earlier date); (b) after giving effect to this Amendment, the Borrowers
are in compliance with all of the terms and provisions set forth in the Credit
Agreement and the other Loan Documents; (c) after giving effect to this
Amendment, no Default has occurred and is continuing; and (d) the
execution, delivery and performance by the Borrowers of this Amendment (i) have
been duly

 

3

 

authorized by all
necessary action on the part of the Borrowers, (ii) will not violate any
applicable law or regulation or the organizational documents of any Borrower,
(iii) will not violate or result in a default under any indenture, agreement or
other instrument binding on any Borrower or any of its assets, including
without limitation, any Subordinated Debt Document, and (iv) do not require any
consent, waiver or approval of or by any Person (other than the Lender) which
has not been obtained.  The Borrowers
hereby acknowledge that pursuant to the terms of the Fifth Amendment to the
Credit Agreement, and notwithstanding anything to the contrary set forth in the
Credit Agreement, the Borrowers have no right to request or continue Loans as
Eurodollar Loans.

 

5.             Conditions to Effectiveness.

 

The
effectiveness of this Amendment shall be subject to the satisfaction of the
following conditions precedent:

 

(a)           The Lender shall have received
counterparts of this Amendment duly executed by each of the Borrowers;

 

(b)           The Lender shall have received a
Certificate of the Secretary of ARC, certifying that this Amendment has been
duly authorized by the Boards of Directors of ARC and each of its Subsidiaries;

 

(c)           The Borrowers shall have delivered to
the Lender evidence that Wynnchurch has executed and delivered to the Borrowers
a written amendment and waiver with respect to the Subordinated Debt Documents
in form and substance reasonably acceptable to the Lender, pursuant to which
Wynnchurch shall have waived all existing defaults of the Borrowers under the
Subordinated Debt Documents and amended the financial covenant provisions of
the Subordinated Debt Documents in a manner consistent with the financial
covenant amendments set forth in this Amendment;

 

(d)           The Lender shall have received from
Wynnchurch a certificate pursuant to which Wynnchurch shall have (i) ratified
and confirmed its obligations under the Wynnchurch Guaranty, (ii) made the
representations and warranties contained in the first sentence of Section 9(e)
of the Wynnchurch Guaranty as of [June 30, 2003], (iii) certified as to the
continued veracity of the representations and warranties contained in Section 9
of the Wynnchurch Guaranty, other than those representations and warranties
contained in the first sentence of Section 9(e) of the Wynnchurch Guaranty, and
(iv) shall have confirmed Wynnchurch’s compliance with Section 11 of the
Wynnchurch Guaranty;

 

(e)           The Lender shall have received a
written acknowledgement from Wynnchurch with respect to the existence of the
June 30, 2003 Events of Default and the modifications to the Credit Agreement
contemplated by this Amendment; and

 

(f)            The Lender shall have received from
the Borrowers, an amendment fee in an amount equal to $25,000.

 

6.             Miscellaneous.

 

(a)           Except as specifically amended
hereby, all of the terms and provisions of the Credit Agreement, the other Loan
Documents and all related documents, shall remain in full force and
effect.  Nothing contained herein shall
constitute a waiver of any provision of the Credit Agreement or the other Loan
Documents, except for the waiver of the June 30, 2003 Events of Default
expressly set forth herein.

 

(b)           This Amendment may be executed in any
number of counterparts, each of which, when executed and delivered, shall be an
original, but all counterparts shall together constitute one instrument.

 

4

 

Delivery of an executed
signature page hereto by facsimile transmission shall be effective as delivery
of a manually executed counterpart hereof.

 

(c)           This Amendment shall be governed by
the laws of The Commonwealth of Massachusetts and shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and
assigns.

 

(d)           The Borrowers shall reimburse the
Lender for all reasonable costs and expenses, including reasonable legal fees
and disbursements, incurred by the Lender in connection with this Amendment and
the transactions contemplated hereby.

 

[Remainder of Page Left Intentionally Blank]

 

5

 

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

 

	
   

  	
  BORROWERS

  
	
   

  	
   

  
	
   

  	
  ALTERNATIVE RESOURCES CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ARC SERVICE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ARC SOLUTIONS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ARC MIDHOLDING, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WRITERS INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

6

 

	
   

  	
  ARC TECHNOLOGY MANAGEMENT LLC

  
	
   

  	
   

  
	
   

  	
  By:  ARC
  SERVICE, INC., its Manager and sole member

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  ARC STAFFING MANAGEMENT LLC

  
	
   

  	
   

  
	
   

  	
  By:  ARC
  SERVICE, INC., its Manager and sole member

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  ARC SHARED SERVICES LLC

  
	
   

  	
   

  
	
   

  	
  By:  ARC SERVICE,
  INC., its Manager and sole member

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

7

 

	
   

  	
  LENDER

  
	
   

  	
   

  
	
   

  	
  FLEET CAPITAL CORPORATION, as Lender

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ISSUING LENDER

  
	
   

  	
   

  
	
   

  	
  FLEET NATIONAL BANK, as Issuing Lender

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CASH MANAGEMENT BANK

  
	
   

  	
   

  
	
   

  	
  FLEET NATIONAL BANK, as Cash Management Bank

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}]]