Document:

EXHIBIT 10.51

    
      
        
          
             

            
              Exhibit
                10.51

              
                 

                TERM
                  NOTE

                

                $4,723,832.18

                Albuquerque,
                  New Mexico

                November
                  30, 2007

                

                FOR
                  VALUE RECEIVED, the undersigned
                  maker BOWLIN TRAVEL CENTERS, INC. ("Borrower") promises to pay
                  to the order of BANK OF THE WEST ("Bank") at such place as the
                  holder hereof may designate, in lawful money of the United States
                  of America and
                  in immediately available funds, the principal sum of Four Million Seven
                  Hundred Twenty Three Thousand Eight Hundred Thirty Two and 18/100
                  dollars
                  ($4,723,832.18), with interest thereon as set forth
                  herein.

                

                Section
                  1.   DEFINITIONS:

                 

                As
                  used
                  herein, the following terms shall have the meanings set forth after
                  each, and
                  any other term defined in this Note shall have the meaning set
                  forth at the
                  place defined:

                 

                (a)      "Business
                  Day" means any day except a Saturday, Sunday or any other day on
                  which the Bank
                  is authorized or required by law to close.

                 

                (b)      "CMT
                  Interest Rate" means at any time the rate of interest calculated
                  as the rate of
                  interest equal to the weekly average yield on U.S. Treasury Securities,
                  adjusted
                  to a constant maturity of five years as published from time to
                  time and made
                  available in Federal Reserve Board Statistical Release H.15 (519)
                  or, if such
                  source is not available, such alternate source as determined by
                  the
                  Bank.

                 

                (c)      “Maturity”
                  means the date the balance of this Note is due and payable in full;
                  November 30,
                  2017.

                

                Section
                  2.   INTEREST:  The outstanding principal balance of
                  this Note shall bear interest (computed on the basis of a 360-day
                  year, actual
                  days elapsed) at a fluctuating rate per annum equal to the CMT
                  Interest
                  Rate:

                 

                
                  	
                        	
                          i)

                        	
                          on
                            the Note date plus 2.50% (currently 5.92%) fixed for
                            five (5) years,
                            and

                        

                

                
                  	
                        	
                          ii)

                        	
                          adjusted
                            on December 1, 2012 to the CMT Interest Rate on such
                            date plus 2.50%
                            fixed, until the Note is paid at
                            Maturity.

                        

                

                

                Section
                  3.   REPAYMENT AND PREPAYMENT:

                 

                (a)      Repayment.  The
                  Note shall be repaid in monthly payments of principal and interest,
                  commencing
                  January 1, 2008:

                 

                
                  	
                        	
                          i)

                        	
                          for
                            January 1, 2008 through December 1, 2012, $33,625.35
                            per month,
                            and

                        

                

                 

                
                  
                    
                    

                  

                  
                    
                    

                    
                      

                    

                  

                  
                    
                    

                  

                   

                  
                    	
                          	
                            ii)

                          	
                            for
                              January 1, 2013 through November 1, 2017, equal monthly
                              payments
                              calculated on principal amortization over a remaining
                              theoretical 15 year
                              maturity plus accrued interest, and

                          

                  

                  
                    	
                          	
                            iii)

                          	
                            at
                              Maturity, a final payment of any unpaid amount due
                              on the
                              Note.

                          

                  

                

                 

                (b)      Application
                  of Payments.  Each payment made on this Note shall be credited
                  first, to any cost and expenses of collection, second to interest
                  then due, and
                  third to the outstanding principal balance hereof.

                 

                (c)      Prepayment.  Borrower
                  may prepay all or any part of the principal on this Note at any
                  time(s) and
                  without any prepayment penalty.

                 

                (d)      Default
                  Interest.  Upon Default and after Maturity, or such earlier date
                  as all principal owing hereunder becomes due and payable by acceleration
                  or
                  otherwise, the outstanding principal balance of this Note shall
                  bear interest
                  until paid in full at an increased rate per annum (computed on
                  the basis of a
                  360-day year, actual days elapsed) equal to four percent (4%) above
                  the rate of
                  interest from time to time applicable to this Note.

                

                Section
                  4.   FINANCIAL COVENANTS:

                 

                (a)     
                  Borrower
                  shall provide to Bank not later than 120 days after and as of the
                  end of each
                  fiscal year, Borrower’s audited financial statements prepared by a certified
                  public accountant acceptable to Bank.

                 

                (b)     
                  Borrower
                  shall provide to Bank Borrower’s interim company prepared statements, not later
                  than 60 days after and as of the end of each fiscal quarter
                  end.  Interim financial statements shall include a balance sheet, a
                  statement of profit and loss and a statement of changes in shareholder's
                  equity,
                  certified as correct by an authorized agent of the Borrower.

                 

                (c)     
                  Borrower
                  shall maintain a minimum Debt Service Coverage ratio of not less
                  than 1.50 to
                  1.00, calculated annually as of Borrower’s fiscal year-end.  For
                  purposes of this calculation, “Debt Service Coverage” ratio means Borrower’s net
                  profits plus depreciation, depletion and amortization, divided
                  by current
                  portion of long term debt.

                

                Section
                  5.   EVENTS OF DEFAULT:

                 

                The
                  occurrence of any of the following shall constitute an "Event of
                  Default" under
                  this Note:

                 

                (a)     
                  The failure to pay any principal, interest, fees or other charges
                  within five
                  (5) days of the date due under this Note.

                

                (b)     
                  Any
                  default, or any failure to perform or observe any requirement,
                  term or condition
                  under this Note or any mortgage, contract, instrument or document
                  executed in
                  connection with this Note (other than the payment of money under
                  subparagraph
                  (a), above):

                 

                
                  
                    
                    

                  

                  
                    2

                    
                      

                    

                  

                  
                    
                    

                  

                   

                  
                    	
                          	
                            i)

                          	
                            immediately
                              if such failure or non-compliance is not susceptible
                              to cure,
                              or

                          

                  

                  
                    	
                          	
                            ii)

                          	
                            if
                              such failure or non-compliance is susceptible to cure,
                              30 days after
                              written notice from Bank of such failure or
                              non-compliance.

                          

                  

                   

                

                (c)     
                  The filing of a petition by or against Borrower, under any provisions
                  of the
                  Bankruptcy Reform Act, Title 11 of the United States Code, as amended
                  or
                  recodified from time to time, or under any similar or other law
                  relating to
                  bankruptcy, insolvency, reorganization or other relief for debtors;
                  the
                  appointment of a receiver, trustee, custodian or liquidator of
                  or for any part
                  of the assets or property of Borrower or Borrower becomes insolvent,
                  makes a
                  general assignment for the benefit of creditors or is generally
                  not paying its
                  debts as they become due; or any attachment or like levy in excess
                  of $50,000 on
                  any property of Borrower.

                 

                (d)     
                  The dissolution, merger, or liquidation of Borrower.

                 

                (e)     
                  Any default in the payment or performance of any obligation under
                  which Borrower
                  has incurred any obligation to any third party, in an amount or
                  claim exceeding
                  $50,000, but excluding any alleged default as to which Borrower
                  claims or
                  asserts a legitimate defense and is actively defending or disputing
                  such
                  claim.

                 

                (f)      Any
                  financial statements or information provided by Borrower to Bank
                  proves to be
                  incorrect, false or misleading in any material respect.

                 

                (g)
                       Any sale or transfer of Borrower’s business or
                  assets which represent or generate more than 25% of Borrower’s gross annual
                  revenues.

                

                Section
                  6.   COLLATERAL:  Repayment of this Note is secure by
                  the grant of mortgage liens on certain of Borrower’s real properties, and any
                  collateral or lien interests granted hereafter.

                

                Section
                  7.   MISCELLANEOUS:

                 

                (a)      Remedies.  Upon
                  the sale, transfer, hypothecation, assignment or other encumbrance,
                  whether
                  voluntary, involuntary or by operation of law, of all or any interest
                  in any
                  real property securing this Note, or upon the occurrence of any
                  Event of
                  Default, the holder of this Note, at the holder's option, may declare
                  all sums
                  of principal and interest outstanding hereunder to be immediately
                  due and
                  payable without presentment, demand, notice of nonperformance,
                  notice of
                  protest, protest or notice of dishonor, all of which are expressly
                  waived by
                  each Borrower.  Each Borrower shall pay to the holder immediately upon
                  demand the full amount of all payments, advances, charges, costs
                  and expenses,
                  including reasonable attorneys' fees (to include outside counsel
                  fees and all
                  allocated costs of the holder's in-house counsel), expended or
                  incurred by the
                  holder in connection with the enforcement of the holder's rights
                  and/or the
                  collection of any amounts which become due to the holder under
                  this Note, and
                  the prosecution or defense of any action in any way related to
                  this Note,
                  including without limitation, any action for declaratory relief,
                  whether
                  incurred at the trial or appellate level, in an arbitration proceeding
                  or
                  otherwise, and including any of the foregoing incurred in connection
                  with any
                  bankruptcy proceeding (including without limitation, any adversary
                  proceeding,
                  contested matter or motion brought by Bank or any other person)
                  relating to any
                  Borrower or any other person or entity.

                 

                
                  
                    
                    

                  

                  
                    3

                    
                      

                    

                  

                  
                    
                    

                  

                   

                

                (b)      Governing
                  Law.  This Note shall be governed by and construed in accordance
                  with the laws of the State of New Mexico.

                 

                (c)     
                  Fees.  Borrower
                  shall pay to Bank a commitment fee of 1/4% of the Note amount,
                  a documentation
                  fee of $350, and shall pay or reimburse all other fees incurred
                  by Bank to
                  prepare the Note and for the collateral liens, together with all
                  costs for title
                  insurance, recording, and other title company fees.  All such fees are
                  fully earned at closing and are non-refundable.

                 

                (d)     
                  Waiver
                  of Jury Trial:  GRANTOR AND BANK EACH WAIVE THEIR RESPECTIVE
                  RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED
                  UPON OR ARISING
                  OUT OF OR RELATED TO THIS AGREEMENT, THE OTHER LOAN DOCUMENTS,
                  OR THE
                  TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, IN ANY ACTION, PROCEEDING
                  OR OTHER
                  LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY
                  OTHER PARTY OR
                  PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS,
                  OR
                  OTHERWISE.  GRANTOR AND BANK EACH AGREE THAT ANY SUCH CLAIM OR CAUSE
                  OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY.  WITHOUT
                  LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE
                  RIGHT TO
                  A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY
                  ACTION,
                  COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART,
                  TO CHALLENGE
                  THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR THE OTHER LOAN
                  DOCUMENTS OR
                  ANY PROVISION HEREOF OR THEREOF.  THIS WAIVER SHALL APPLY TO ANY
                  SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO
                  THIS AGREEMENT
                  AND THE OTHER LOAN DOCUMENTS.

                 

                
                  	
                          BOWLIN
                            TRAVEL CENTERS,
                            INC.

                           

                        	 	 	 	 
	
                          /s/ 
                            Michael L. Bowlin

                        	 	 	
                           

                        	 
	
                          by:  Michael
                            L. Bowlin,
                            President

                        	 	 	
                           

                        	 
	
                           

                        	 	 	
                           

                        	 

                

                

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                  REMAINDER OF PAGE BLANK ]

                 

                
                  
                    
                    

                  

                  
                    4Exhibit 10.1

 

OPTION NO.: 003391

 

ON
ASSIGNMENT, INC.

 

NONQUALIFIED INDUCEMENT STOCK OPTION GRANT AGREEMENT

NOTICE OF GRANT

As an inducement material to
Optionee’s decision to accept employment with On Assignment, Inc., a Delaware
corporation, the Company hereby grants to Optionee a nonqualified option to
purchase 100,024 Shares with an exercise price no less than 100% of the Fair
Market Value of such Shares, subject to the terms and conditions set forth in
this Agreement.

Grant Date:  January 1,
2007

Name of Optionee:  James Brill

Optionee’s Employee I.D. Number:  

Number of Shares Covered by
Option: 100,024 Shares

Per Share Option Exercise Price: $11.75

Aggregate
Exercise Price: $1,175,282

Vesting Commencement Date:  January 1, 2007

Option Expiration Date:  January 1, 2017

TERMS OF GRANT

1.                                       Definitions.  As used herein, the following definitions
shall apply:

(a)                                  “Agreement”
means this stock option agreement, including the Notice of Grant and the Terms
of Grant, between the Company and Optionee evidencing the terms and conditions
of this Option.

(b)                                 “Applicable Laws”
means the laws, rules ad regulations governing the administration of stock
options, including without limitation, U.S. state corporate laws, U.S. federal
and state securities and tax laws, the rules of any stock exchange or quotation
system on which the Common Stock is listed or quoted and the applicable laws of
any foreign country or jurisdiction that may apply to this Option.

(c)                                  “Board” means
the Board of Directors of the Company or any committee of the Board that has
been designated by the Board to administer this Agreement.

(d)                                 “Cause” shall
have the meaning provided in that certain Employment Agreement between Optionee
and the Company, dated January 1, 2007.

(e)                                  “COC Agreement”
means that certain Executive Change of Control Agreement entered into by and
between Optionee and the Company, dated January 1, 2007.

(f)                                    “Code” means the
Internal Revenue Code of 1986, as amended.

(g)                                 “Common Stock”
means the common stock of the Company.

(h)                                 “Company” means
On Assignment, Inc., a Delaware Corporation.

(i)                                     “Consultant”
means any person, including an advisor, engaged by the Company or a Parent or
Subsidiary to render services to such entity.

(j)                                     “Director” means
a member of the Board.

(k)                                  “Employee” means
any person, including Officers and Directors, employed by the Company or any
Parent or Subsidiary of the Company. 
Neither service as a Director nor payment of a director’s fee by the
Company shall be sufficient to constitute “employment” by the Company.

(l)                                     “Exercise Notice”
shall mean a written election substantially in the form attached hereto as
Exhibit A indicating Optionee’s election to exercise all or a portion of the
Option and stating the number of Shares in respect of which the Option is being
exercised.  The Exercise Notice shall
additionally contain such other representations and agreements as may be
required by the Company.

(m)                               “Exercise Price”
shall mean the Per Share Option Exercise Price (as stated in the Notice of
Grant) times the number of Shares with respect to which the Option is exercised.

(n)                                 “Exchange Act”
means the Securities Exchange Act of 1934, as amended.

(o)                                 “Fair Market Value”
means the closing price of a share of Common Stock on the Nasdaq Global Market on
the date preceding the Grant Date, as reported in the Wall Street Journal or
such other source as the Board reasonably deems reliable.

(p)                                 “Nonstatutory Stock Option”
means an Option not intended to qualify as an incentive stock option within the
meaning of Section 422 of the Code and the regulations promulgated thereunder.

(q)                                  “Officer” means
a person who is an officer of the Company within the meaning of Section 16 of
the Exchange Act and the rules and regulations promulgated thereunder.

(r)                                    “Option” means
this option to purchase shares of Common Stock granted pursuant to this
Agreement.

(s)                                  “Optionee” means
the person named in the Notice of Grant or such person’s successor.

(t)                                    “Parent” means a
“parent corporation,” whether now or hereafter existing, as defined in Section
424(e) of the Code.

(u)                                 “Service Provider”
means an Employee, Director or Consultant.

(v)                                 “Share” means a
share of the Common Stock, as the same may be adjusted in accordance with
Section 9 of this Agreement.

(w)                               “Subsidiary” means
a “subsidiary corporation,” whether now or hereafter existing, as defined in
Section 424(f) of the Code.

(x)                                   “Total Disability”
means Optionee is unable to perform each of the essential duties of Optionee’s
position by reason of a medically determinable physical or mental impairment
which is potentially permanent in character or which can be expected to last
for a continuous period of not less than 12 months.

2.                                       Grant of Option.  The Company hereby grants to Optionee this
Option to purchase the number of Shares set forth in the Notice of Grant at the
Per Share Option Exercise Price, subject to the terms and conditions of this
Agreement.

3.                                       Vesting Schedule.  Subject to (i) the accelerated vesting
provisions set forth in the COC Agreement, which provisions are hereby
incorporated by reference into this Agreement, (ii) adjustment pursuant to Section
9 of this Agreement, and (iii) Optionee’s continued status as a Service
Provider through each such date, this Option shall vest and become exercisable (A)
as to 25,000 of the shares subject thereto on the first anniversary of the
Vesting Commencement Date (as stated in the Notice of Grant), and (B) as to
2,084 of the shares subject thereto on each monthly anniversary of the Vesting
Commencement Date thereafter, so that the Option shall be fully vested and
exercisable on the fourth anniversary of the Vesting Commencement Date.

4.                                       Exercise of Option.

(a)                                  Right to Exercise.  The Option shall be
exercisable, on a cumulative basis, only (i) to the extent vested in accordance
with Section 3 above, (ii) in increments of at least 100 Shares (or such lesser
number of Shares as remain subject to the Option), and (iii) otherwise in
accordance with the terms of this Agreement. 
The Option may not be exercised with respect to unvested Shares or after
the Option Expiration Date (or earlier termination of the Option as provided
herein).

(b)                                 Method of Exercise.  This Option shall be
exercisable only by Optionee’s delivery of an Exercise Notice to an authorized
representative of the Company.  The
Exercise Notice shall be accompanied by payment of the applicable Exercise
Price, together with any applicable withholding taxes.  This Option shall be deemed to be exercised
upon receipt by the Company of such fully executed Exercise Notice accompanied
by such applicable Exercise Price and applicable withholding taxes.

(c)                                  Legal Compliance.  No Shares shall be
issued pursuant to the exercise of this Option, unless such issuance and
exercise complies with all Applicable Laws. 
Assuming such compliance, for income tax purposes the Shares with
respect to which the Option is exercised shall be considered transferred to Optionee
on the date the Option is exercised with respect to such Shares.

5.                                       Method of Payment.  Payment of the applicable Exercise Price
shall be by any of the following, or a combination thereof:

(a)                                  Cash, personal check, cashier’s check, money order or another
cash equivalent acceptable to the Company;

(b)                                 Shares which have already been owned by Optionee for more
than six months and which are surrendered to the Company.  The value of the Shares, determined as of the
effective date of the Option exercise, will be applied to the Exercise Price;
and/or

(c)                                  Subject to advance written approval by the Compensation
Committee of the Board, by delivery (on a form prescribed by the Company) of an
irrevocable direction to a licensed securities broker acceptable to the Company
to sell Shares and to deliver all or part of the sale proceeds to the Company
in payment of the aggregate option price and any withholding taxes.

6.                                       Termination of Relationship as a Service Provider.  In connection with
any absence, change in employing entity or change in Optionee’s service
relationship, determinations as to whether Optionee’s status as a Service
Provider has terminated shall be made in the sole discretion of the Board.

(a)                                  Termination Generally. Except as may otherwise provided in the COC Agreement, if
Optionee’s status as a Service Provider is terminated for any reason other than
by the Company for Cause or due to Optionee’s death or Total Disability, this
Option shall remain exercisable, to the extent vested as of such termination
(taking into account any vesting that may occur in connection with such
termination), for three months after Optionee so ceases to be a Service Provider,
but in no event later than the Option Expiration Date (as stated in the Notice
of Grant).  To the extent that Optionee
does not exercise this Option within the time specified herein, the Option
shall terminate.

(b)                                 Total Disability of Optionee.  Except as may otherwise
provided in the COC Agreement, if Optionee ceases to be a Service Provider as a
result of Optionee’s Total Disability, this Option may be exercised, to the
extent that the Option is vested on the date of such termination (taking into
account any vesting that may occur in connection with such termination), for a
period of twelve months after the date of such termination, but in no event
later than the Option Expiration Date. 
To the extent that Optionee does not exercise this Option within the
time specified herein, the Option shall terminate.

(c)                                  Death of Optionee.  Except as may otherwise
provided in the COC Agreement, if Optionee dies while a Service Provider, this
Option may be exercised by Optionee’s estate or by a person who acquired the
right to exercise the Option by bequest or inheritance, to the extent that the
Option is vested on the date of such termination (taking into 

account any
vesting that may occur in connection with such termination), for a period of
thirty-six months after the date of such termination, but in no event later
than the Option Expiration Date.  If,
after death, Optionee’s estate or a person who acquired the right to exercise
the Option by bequest or inheritance does not exercise the Option within the
time specified herein, the Option shall terminate.

(d)                                 Termination for Cause.  If Optionee’s status
as a Service Provider is terminated for Cause, the Option shall terminate with
respect to all Shares subject thereto (whether or not vested) as of the start
of business on the date of such termination.

7.                                       Non-Transferability of Option.  This Option may not be transferred in any
manner otherwise than by will or by the laws of descent or distribution and may
be exercised during the lifetime of Optionee only by Optionee.  The terms of this Agreement shall be binding
upon the executors, administrators, heirs, successors and assigns of Optionee.

8.                                       Rights as a Stockholder.  Until Shares are issued in connection with an
exercise of this Option, no right to vote or receive dividends or any other
rights as a stockholder will exist with respect to Shares subject to this
Option.  No adjustment will be made for a
dividend or other right for which the record date is prior to the date that any
such Shares are issued, except as provided in Section 9 below.

9.                                       Adjustments Upon Changes in Capital Structure.

(a)           Changes in Stock.  If
the number of outstanding Shares is increased or decreased or the Shares are
changed into or exchanged for a different number or kind of shares or other securities
of the Company on account of any recapitalization, reclassification, stock
split, reverse split, combination of shares, exchange of shares, stock dividend
or other distribution payable in capital stock, or other increase or decrease
in such shares, effected in all such cases, without receipt of consideration by
the Company, the number and kinds of shares subject to this Option shall be
adjusted proportionately and accordingly by the Company.  Any such adjustment shall not change the
aggregate Exercise Price payable with respect to shares that are subject to the
unexercised portion of the Option, but shall include a corresponding
proportionate adjustment in the Per Share Option Exercise Price.  The conversion of any convertible securities
of the Company shall not be treated as an increase in Shares effected without
receipt of consideration.  
Notwithstanding the foregoing, in the event of any distribution to the
Company’s stockholders of securities of any other entity or other assets (other
than dividends payable in cash or stock of the Company) without receipt of
consideration by the Company, the Company shall, in an equitable manner, adjust
(i) the number and kind of shares subject to the Option and/or (ii) the Per
Share Option Exercise Price to reflect such distribution.

(b)           Adjustments.  Adjustments
pursuant to Section 9(a) related to Shares or other securities of the
Company shall be made by the Board, whose determination in that respect shall
be final, binding and conclusive.  No fractional
Shares or other securities shall be issued pursuant to any such adjustment, and
any fractions resulting from any such adjustment shall be eliminated in each
case by rounding downward to the nearest whole Share.

(c)           No Limitations on Company. 
The existence of this Option shall not in any way affect or limit the
right or power of the Company to make adjustments, reclassifications,
reorganizations, or changes of its capital or business structure or to merge,
consolidate, dissolve, or liquidate, or to sell or transfer all or any part of
its business or assets.

10.                                 Notices.  Any notice to be given to the Company
hereunder shall be in writing and shall be addressed to the Company at its then
current principal executive office or to such other address as the Company may
hereafter designate to Optionee by notice as provided in this Section 10.  Any notice to be given to Optionee hereunder
shall be addressed to Optionee at the most current address on file with the
Company’s Human Resources Department, or at such other address as Optionee may
hereafter designate to the Company by notice as provided herein.  A notice shall be deemed to have been duly
given when personally delivered or mailed by registered or certified mail to
the party entitled to receive it.

11.                                 Administration.  The Board (or, if required by Applicable Law,
the Compensation Committee) shall have full power and authority to take all
actions and to make all determinations required or provided for under this
Agreement, and shall have full power and authority to take all such other
actions and make all such other determinations not inconsistent with the
specific terms and provisions of this Agreement that the Board (or its
Compensation Committee) deems to be necessary or appropriate to the
administration of this Agreement.  The
interpretation and construction by the Board (or its Compensation Committee) of
any provision of this Agreement shall be final, binding and conclusive.

12.                                 Withholding Taxes.  At the time the Option is exercised, Optionee
hereby authorizes withholding from payroll and other amounts payable to
Optionee by the Company, or will remit to the Company, an amount sufficient to
satisfy federal, state, and local withholding tax requirements prior to the
delivery of any Shares.

13.                                 Entire Agreement; Governing Law.  This Agreement,
together with the agreements expressly referenced herein, constitute the entire
agreement of the parties with respect to the subject matter hereof and
supersede in their entirety all prior undertakings and agreements of the
Company and Optionee with respect to the subject matter hereof, and may not be
modified adversely to Optionee’s interest except by means of a writing signed
by the Company and Optionee.  The
validity and construction of the Option and this Agreement shall be governed by
the laws of the State of California, other than any conflicts or choice of law
rule or principle that might otherwise refer construction or interpretation of
the Option or this Agreement to the laws of any other jurisdiction.

14.           Compliance with Securities Law.  This Option will be subject to the
requirement that if, at any time, counsel to the Company will determine that
the listing, registration or qualification of the Shares subject hereto upon
any securities exchange or under any state or federal law, or the consent or
approval of any governmental or regulatory body, or that the disclosure of
non-public information or the satisfaction of any other condition is necessary
as a condition of, or in connection with, the issuance or purchase of Shares
hereunder, this Option may not be exercised, in whole or in part, unless such
listing, registration, qualification, consent or approval, disclosure or
satisfaction of such other condition will have been effected or obtained on
terms acceptable to the Board.  Nothing
herein will be deemed to require the Company to 

apply for,
effect or obtain such listing, registration, qualification, or disclosure, or
to satisfy such other condition.

15.                                 Rule 16b-3.  This Option has been granted in compliance
with Rule 16b-3 and will be deemed to contain such additional conditions or
restrictions as may be required thereunder to qualify for the maximum exemption
from Section 16 of the Exchange Act.

16.                                 NO GUARANTEE OF CONTINUED SERVICE.  OPTIONEE
ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING
SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL
OF THE COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION
OR PURCHASING SHARES HEREUNDER).  OPTIONEE
FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS
CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT
CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE
PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT
INTERFERE WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S
RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

17.                                 Captions.  The use of captions in this Agreement is for
the convenience of reference only and shall not affect the meaning of any
provision of this Agreement.

By Optionee’s signature and
the signature of the Company’s representative below, Optionee and the Company
agree that this Option is granted under and governed by the terms and
conditions of this Agreement.  Optionee
has reviewed this Agreement in its entirety, has had an opportunity to obtain
the advice of counsel prior to executing this Agreement and fully understands all
provisions of this Agreement.  Optionee
hereby agrees to accept as binding, conclusive and final all decisions or
interpretations of the Board regarding this Agreement.

 

	
  Optionee:

  	
     /s/
  James Brill

  	
   

  	
   

  
	
   

  	
  (Signature)

  	
   

  	
  Date

  
	
   

  	
   

  	
   

  	
   

  
	
  Company:

  	
     /s/ Peter Dameris

  	
   

  	
   

  
	
   

  	
  Peter Dameris

  	
   

  	
   

  
	
   

  	
  President and Chief Executive Officer

  	
   

  	
   

  

 

 

EXHIBIT
A

ON ASSIGNMENT, INC.

EXERCISE NOTICE

On Assignment, Inc.

26651 W. Agoura Road

Calabasas, CA 91302

 

Attention:                                

1.                                       Exercise of
Option.  Effective as of today,                                ,
20    , the undersigned (“Optionee”) hereby elects pursuant
to this Agreement (the “Agreement”) to purchase                           
shares (the “Shares”) of the Common Stock of On Assignment, Inc. (the “Company”)
under and pursuant to Non-Statutory Stock Option Agreement #        ,
dated January 1, 2007, (the “Option Agreement”).  Terms used in this Agreement, but not defined
shall have the meanings provided in the Option Agreement.

2.                                       Delivery of
Payment.  Optionee herewith delivers to
the Company the full purchase price for the Shares together with any required
withholding taxes to be paid in connection with the exercise of the Option.

3.                                       Representations
of Optionee.  Optionee
aknowledges that Optionee has received, read and understood the Option Agreement
and agrees to abide by and be bound by its terms and conditions.

4.                                       Rights as
Shareholder.  Until the
issuance (as evidenced by the appropriate entry on the books of the Company or
of a duly authorized transfer agent of the Company) of the Shares, no right to
vote or receive dividends or any other rights as a stockholder shall exist with
respect to the Shares subject to the Option. 
The Shares so acquired shall be issued to Optionee as soon as
practicable after exercise of the Option. 
No adjustment will be made for a dividend or other right for which the
record date is prior to the date of issuance, except as provided in Section 9
of the Option Agreement.

5.                                       Tax
Consultation.  Optionee
understands that Optionee may suffer adverse tax consequences as a result of
Optionee’s purchase or disposition of the Shares.  Optionee represents that Optionee has
consulted with any tax consultants Optionee deems advisable in connection with
the purchase or disposition of the Shares and that Optionee is not relying on
the Company for any tax advice.

6.                                       Successors and
Assigns.  The Company may assign any of
its rights under this Exercise Notice to single or multiple assignees, and this
Exercise Notice shall inure to the benefit of the successors and assigns of the
Company.  Subject to the restrictions on
transfer herein set forth, this Exercise Notice shall be binding upon Optionee
and his or her heirs, executors, administrators, successors and assigns.

7.                                       Interpretation.  Any dispute regarding the interpretation of
this Exercise Notice shall be submitted by Optionee or by the Company forthwith
to the Board, which shall review such dispute at its next regular meeting.  The resolution of such a dispute by the Board
made in good faith shall be final and binding on all parties.

8.                                       Entire
Agreement; Governing Law.  The
Option Agreement is incorporated herein by reference together with any
documents incorporated by reference therein, together with this Agreement,
constitute the entire agreement of the parties with respect to the subject
matter hereof and supersede in their entirety all prior undertakings and
agreements of the Company and Optionee with respect to the subject matter
hereof, and may not be modified adversely to Optionee’s interest except by
means of a writing signed by the Company and Optionee.  The validity and construction of the Option
and this Agreement shall be governed by the laws of the State of California,
other than any conflicts or choice of law rule or principle that might
otherwise refer construction or interpretation of the Option or this Agreement
to the laws of any other jurisdiction.

 

 

	
   

  	
  Accepted by:

  	
   

  	
  Submitted by:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  ON
  ASSIGNMENT, INC.

  	
   

  	
  OPTIONEE

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  By:

  
	
   

  	
  Name:

  	
   

  	
  Name:

  
	
   

  	
  Title:

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