Document:

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                                                                   Exhibit 10.23

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                 AMENDED AND RESTATED RECEIVABLES SALE AGREEMENT

                           DATED AS OF AUGUST 19, 2002

                                  BY AND AMONG

                 SPHERION CORPORATION, SPHERION ASSESSMENT INC.,
          NORCROSS TELESERVICES INC., COMTEX INFORMATION SYSTEMS, INC.,
         SPHERION PACIFIC ENTERPRISES LLC, SPHERION ATLANTIC ENTERPRISES
           LLC, SPHERION PACIFIC OPERATIONS LLC, AND SPHERION ATLANTIC
            OPERATIONS LLC, SPHERION ATLANTIC RESOURCES LLC, SPHERION
             ATLANTIC WORKFORCE LLC, SPHERION PACIFIC RESOURCES LLC,
               SPHERION PACIFIC WORKFORCE LLC AND EACH OF SPHERION
           CORPORATION'S DIRECT OR INDIRECT WHOLLY-OWNED SUBSIDIARIES
                 THAT HEREAFTER BECOMES AN ORIGINATOR HEREUNDER,
                                 AS ORIGINATORS,

                                       AND

                            SPHERION RECEIVABLES LLC
                                    AS BUYER

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                                TABLE OF CONTENTS

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ARTICLE I AMOUNTS AND TERMS OF THE PURCHASE.......................................................................2

SECTION 1.1    PURCHASE OF RECEIVABLES............................................................................2
SECTION 1.2    PAYMENT FOR THE PURCHASES..........................................................................3
SECTION 1.3    PURCHASE PRICE CREDIT ADJUSTMENTS..................................................................5
SECTION 1.4    PAYMENTS AND COMPUTATIONS, ETC.....................................................................6
SECTION 1.5    LICENSE OF SOFTWARE; TRANSFER OF RECORDS...........................................................6
SECTION 1.6    CHARACTERIZATION...................................................................................6

ARTICLE II REPRESENTATIONS AND WARRANTIES.........................................................................7

SECTION 2.1    REPRESENTATIONS AND WARRANTIES OF ORIGINATORS......................................................7

ARTICLE III CONDITIONS OF PURCHASE...............................................................................11

SECTION 3.1    CONDITIONS PRECEDENT TO PURCHASE..................................................................11
SECTION 3.2    CONDITIONS PRECEDENT TO SUBSEQUENT PURCHASES......................................................11

ARTICLE IV COVENANTS.............................................................................................12

SECTION 4.1    AFFIRMATIVE COVENANTS OF ORIGINATORS..............................................................12
SECTION 4.2    NEGATIVE COVENANTS OF ORIGINATORS.................................................................16

ARTICLE V JOINDER OF ADDITIONAL ORIGINATORS......................................................................17

SECTION 5.1    ADDITION OF NEW ORIGINATORS.......................................................................17
SECTION 5.2    DOCUMENTATION.....................................................................................17

ARTICLE VI TERMINATION EVENTS....................................................................................17

SECTION 6.1    TERMINATION EVENTS................................................................................17
SECTION 6.2    REMEDIES..........................................................................................19

ARTICLE VII INDEMNIFICATION......................................................................................19

SECTION 7.1    INDEMNITIES BY ORIGINATORS........................................................................19
SECTION 7.2    OTHER COSTS AND EXPENSES..........................................................................21

ARTICLE VIII MISCELLANEOUS.......................................................................................22

SECTION 8.1    WAIVERS AND AMENDMENTS............................................................................22
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SECTION 8.2    NOTICES...........................................................................................22
SECTION 8.3    PROTECTION OF OWNERSHIP INTERESTS OF BUYER........................................................22
SECTION 8.4    CONFIDENTIALITY...................................................................................23
SECTION 8.5    BANKRUPTCY PETITION...............................................................................24
SECTION 8.6    LIMITATION OF LIABILITY...........................................................................24
SECTION 8.7    CHOICE OF LAW.....................................................................................25
SECTION 8.8    CONSENT TO JURISDICTION...........................................................................25
SECTION 8.9    WAIVER OF JURY TRIAL..............................................................................25
SECTION 8.10   INTEGRATION; BINDING EFFECT; SURVIVAL OF TERMS....................................................25
SECTION 8.11   COUNTERPARTS; SEVERABILITY........................................................................26
SECTION 8.12   CONSTRUCTION OF THIS AGREEMENT AND CERTAIN TERMS AND PHRASES......................................26
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                             EXHIBITS AND SCHEDULES

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<S>                       <C>
Exhibit I        -        Definitions

Exhibit II       -        Jurisdiction of Organization and Chief Executive Offices of each Originator;
                          Organizational Identification Number(s); Other Names

Exhibit III      -        Lock-Boxes; Collection Accounts; Collection Banks

Exhibit IV       -        Form of Compliance Certificate

Exhibit V        -        Copy of Credit and Collection Policy

Exhibit VI       -        Form of Subordinated Note

Exhibit VII      -        Form of Purchase Report

Exhibit VIII     -        Form of Joinder Agreement

Schedule A       -        List of Documents to Be Delivered to Buyer Prior to the Purchases

Schedule B       -        Monthly Accounting Periods
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                 AMENDED AND RESTATED RECEIVABLES SALE AGREEMENT

         THIS AMENDED AND RESTATED RECEIVABLES SALE AGREEMENT, dated as of
August 19, 2002 (this "AGREEMENT") by and among Spherion Corporation, a Delaware
corporation ("PARENT"), Spherion Assessment Inc., a North Carolina corporation,
Norcross Teleservices Inc., a Delaware corporation, Comtex Information Systems,
Inc., a Delaware corporation, Spherion Pacific Enterprises LLC, a Delaware
limited liability company, Spherion Atlantic Enterprises LLC, a Delaware limited
liability company, Spherion Pacific Operations LLC, a Delaware limited liability
company, Spherion Atlantic Operations LLC, a Delaware limited liability company,
Spherion Atlantic Resources LLC, a Delaware limited liability company, Spherion
Atlantic Workforce LLC, a Delaware limited liability company, Spherion Pacific
Resources LLC, a Delaware limited liability company, and Spherion Pacific
Workforce LLC, a Delaware limited liability company (Parent and each of the
foregoing, an "ORIGINAL ORIGINATOR" and collectively, with each direct or
indirect wholly-owned subsidiary of Parent that hereafter becomes a party
hereto, a "NEW ORIGINATOR") by executing a joinder agreement in the form of
Exhibit VIII (each, a "JOINDER AGREEMENT") as originators (the "ORIGINATORS"),
and Spherion Receivables LLC, a Delaware limited liability company, formerly
known as Spherion Receivables Corp. ("BUYER"). This Agreement amends and
restates the Receivables Sale Agreement dated as of July 31, 2002, by and among
the Original Originators and Spherion Receivables Corp. UNLESS DEFINED ELSEWHERE
HEREIN, CAPITALIZED TERMS USED IN THIS AGREEMENT SHALL HAVE THE MEANINGS
ASSIGNED TO SUCH TERMS IN EXHIBIT I (OR, IF NOT DEFINED IN EXHIBIT I, THE
MEANING ASSIGNED TO SUCH TERM IN EXHIBIT I TO THE CREDIT AND SECURITY
AGREEMENT).

                             PRELIMINARY STATEMENTS

         Each of the Originators now owns, and from time to time hereafter will
own, Receivables. Each of the Originators wishes to sell and assign to Buyer,
and Buyer wishes to purchase from each Originator, all of such Originator's
right, title and interest in and to its Receivables, together with the Related
Security and Collections with respect thereto.

         Each of the Originators and Buyer intend the Purchases of Receivables
from such Originator hereunder to be true sales to Buyer by such Originator of
the Receivables originated by it, providing Buyer with the full benefits of
ownership of such Receivables, and none of the Originators nor Buyer intends
such Purchases to be, or for any purpose to be characterized as, loans from
Buyer to such Originator.

         Following the Purchase of Receivables from each Originator, Buyer will
borrow and pledge its assets pursuant to that certain Amended and Restated
Credit and Security Agreement dated as of August 19, 2002 (as the same has been
and may from time to time hereafter amended, supplemented, restated or otherwise
modified, the "CREDIT AND SECURITY AGREEMENT") by and among Buyer, as Borrower,
Parent, as initial Servicer, Blue Ridge Asset Funding Corporation ("BLUE
RIDGE"), and Wachovia Bank, National Association or any successor agent
appointed pursuant to the Credit and Security Agreement, as agent (in such
capacity, the "ADMINISTRATIVE AGENT").

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

                                   ARTICLE I
                        AMOUNTS AND TERMS OF THE PURCHASE

         Section 1.1 PURCHASE OF RECEIVABLES.

              (a) Effective on the Initial Sale Closing Date, in consideration
         for the Purchase Price paid to each Originator and upon the terms and
         subject to the conditions set forth herein, each Originator does hereby
         sell, assign, transfer, set-over and otherwise convey to Buyer, without
         recourse (except to the extent expressly provided herein), and Buyer
         does hereby purchase from such Originator, all of such Originator's
         right, title and interest in and to all Receivables originated by such
         Originator and existing as of the close of business on the Business Day
         immediately prior to the Initial Sale Closing Date (the "INITIAL CUTOFF
         DATE") and all Receivables thereafter originated by such Originator
         through and including the Originator's Termination Date, together, in
         each case, with all Related Security and Collections with respect
         thereto. In accordance with the preceding sentence, on the Applicable
         Closing Date for each Originator, Buyer shall acquire all of such
         Originator's right, title and interest in and to all Receivables
         existing as of the Applicable Cutoff Date and thereafter arising
         through and including the Termination Date, together with all Related
         Security and Collections with respect thereto. Buyer shall be obligated
         to pay the Purchase Price for the Receivables purchased hereunder from
         each Originator in accordance with Section 1.2.

              (b) On the 15th Business Day of each monthly accounting period of
         the Parent set forth on Schedule B (commencing with the first full
         accounting period following its Applicable Closing Date), each
         Originator shall (or shall require the Servicer to) deliver to Buyer a
         report in substantially the form of Exhibit VII (each such report being
         herein called a "PURCHASE REPORT") with respect to the Receivables sold
         or otherwise transferred by such Originator to Buyer during the
         Settlement Period then most recently ended. In addition to, and not in
         limitation of, the foregoing, in connection with the payment of the
         Purchase Price for any Receivables purchased hereunder, Buyer may
         request that the applicable Originator deliver, and such Originator
         shall deliver, such approvals, opinions, information or documents as
         Buyer may reasonably request.

              (c) It is the intention of the parties hereto that each Purchase
         of Receivables from an Originator made hereunder shall constitute a
         sale, which sale is absolute and irrevocable and provides Buyer with
         the full benefits of ownership of the Receivables originated by such
         Originator. Except for the Purchase Price Credits owed to such
         Originator pursuant to Section 1.3, the sale of Receivables hereunder
         by each Originator is made without recourse to such Originator;
         PROVIDED, HOWEVER, that (i) such Originator shall be liable to Buyer
         for all representations, warranties, covenants and indemnities made by
         such Originator pursuant to the Transaction Documents to which such
         Originator is a party, and (ii) such sale does not constitute and is
         not intended to result in an assumption by Buyer or any assignee
         thereof of any obligation of such Originator or

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         any other Person arising in connection with the Receivables, the
         related Contracts or other Related Security or any other obligations of
         such Originator. In view of the intention of the parties hereto that
         each Purchase of Receivables made hereunder shall constitute a sale of
         such Receivables rather than loans secured thereby, each Originator
         agrees that it will, on or prior to its Applicable Closing Date and in
         accordance with Section 4.1(e)(ii), mark its master data processing
         records relating to the Receivables originated by it with a legend
         acceptable to Buyer and to the Administrative Agent (as Buyer's
         assignee), evidencing that Buyer has purchased such Receivables
         hereunder and to note in its financial statements that its Receivables
         have been sold or otherwise transferred to Buyer. Upon the request of
         Buyer or the Administrative Agent (as Buyer's assignee), each
         Originator will execute and file such financing or continuation
         statements, or amendments thereto or assignments thereof, and such
         other instruments or notices, as may be necessary or appropriate to
         perfect and maintain the perfection of Buyer's ownership interest in
         the Receivables originated by such Originator and the Related Security
         and Collections with respect thereto, or as Buyer or the Administrative
         Agent (as Buyer's assignee) may reasonably request.

         Section 1.2 PAYMENT FOR THE PURCHASES.

              (a) The Purchase Price for the Purchase from each Originator of
         its Receivables in existence as of the close of business on the Initial
         Cutoff Date shall be payable in full by Buyer to such Originator on the
         Initial Sale Closing Date, and shall be paid to such Originator in the
         following manner:

                   (i) by delivery of immediately available funds, to the extent
              of funds made available to Buyer from its borrowings under the
              Credit and Security Agreement and other cash on hand;

                   (ii) at the election of the Buyer , by delivery of the
              proceeds of a subordinated revolving loan from such Originator to
              Buyer (a "SUBORDINATED LOAN") in an amount not to exceed the least
              of (1) the remaining unpaid portion of such Purchase Price, (2)
              the maximum Subordinated Loan that could be borrowed without
              rendering Buyer's Net Worth less than the Required Capital Amount,
              and (3) fifteen percent (15%) of such Purchase Price. Each
              Originator is hereby authorized by Buyer to endorse on the
              schedule attached to its Subordinated Note an appropriate notation
              evidencing the date and amount of each advance thereunder, as well
              as the date of each payment with respect thereto, PROVIDED THAT
              the failure to make such notation shall not affect any obligation
              of Buyer thereunder; and

                   (iii) by accepting such Receivables as a contribution to
              Buyer's capital in an amount equal to the remaining unpaid balance
              of such Purchase Price; provided that no such capital contribution
              shall be made from and after the date on which any Originator
              notifies Buyer in writing that such Originator has designated a
              date as such Originator's Termination Date.

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The Purchase Price for each Receivable coming into existence after the Initial
Cutoff Date shall be due and owing in full by Buyer to the applicable Originator
or its designee on the date each such Receivable came into existence (except
that Buyer may, with respect to any such Purchase Price, offset against such
Purchase Price any amounts owed by such Originator to Buyer hereunder and which
have become due but remain unpaid) and shall be paid to such Originator in the
manner provided in the following paragraphs (b), (c) and (d).

              (b) With respect to any Receivables coming into existence after
         the Initial Cutoff Date, on each Settlement Date, Buyer shall pay the
         applicable Originator the Purchase Price therefor in accordance with
         Section 1.2(d) and in the following manner:

                  FIRST, by delivery to the applicable Originator or its
         designee of immediately available funds, to the extent of funds
         available to Buyer from its borrowings under the Credit and Security
         Agreement or other cash on hand;

                  SECOND, at the Buyer's election, by delivery to the applicable
         Originator or its designee of the proceeds of a Subordinated Loan,
         PROVIDED THAT the making of any such Subordinated Loan shall be subject
         to the provisions set forth in SECTION 1.2(a)(ii); and

                  THIRD, by accepting such Receivables as a contribution to
         Buyer's capital in an amount equal to the remaining unpaid balance of
         such Purchase Price; provided that no such capital contribution shall
         be made from and after the date on which any Originator notifies Buyer
         in writing that such Originator has designated a date as such
         Originator's Termination Date.

Subject to the limitations set forth in SECTION 1.2(a)(ii), each Originator
irrevocably agrees to advance each Subordinated Loan requested by Buyer on or
prior to such Originator's Termination Date. The Subordinated Loans owing to
each Originator shall be evidenced by, and shall be payable in accordance with
its Subordinated Note and shall be payable solely from funds which Buyer is not
required under the Credit and Security Agreement to set aside for the benefit
of, or otherwise pay over to, the Lenders.

              (c) From and after an Originator's Termination Date, each
         Originator shall not be obligated to (but may, at its option) (i) sell
         its Receivables to Buyer, or (ii) contribute Receivables to Buyer's
         capital pursuant to clause THIRD of Section 1.2(b).

              (d) Although the Purchase Price for each Receivable coming into
         existence after the Initial Cutoff Date shall be due and payable in
         full by Buyer to the applicable Originator on the date such Receivable
         came into existence, settlement of the Purchase Price between Buyer and
         such Originator shall be effected on a monthly basis on Settlement
         Dates with respect to all Receivables originated by such Originator
         during the same Calculation Period and based on the information
         contained in the Purchase Report delivered by such Originator for the
         Calculation Period then most recently ended. Although settlement shall
         be effected on Settlement Dates, increases or decreases in the amount
         owing under the Subordinated Note made pursuant to Section 1.2 and any
         contribution of capital by Parent to Buyer made pursuant to Section
         1.2(b) shall be

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         deemed to have occurred and shall be effective as of the last Business
         Day of the Calculation Period to which such settlement relates. During
         each Calculation Period, Parent, while it is Servicer, will have the
         right to withdraw funds from the Collection Accounts pursuant to the
         applicable Collection Account Agreement and remit such funds to the
         Originators as advance payments on account of the Purchase Price of the
         Receivables Purchased from the Originators by Buyer during such
         Calculation Period provided that (i) a Collection Notice has not been
         delivered pursuant to Section 8.3 of the Credit and Security Agreement
         or (ii) no Amortization Event has occurred or is continuing. On each
         Settlement Date, Servicer shall reconcile the total amounts so remitted
         to the Originators during the Calculation Period (plus the total
         amounts, if any, remitted to the Originators as payment of Purchase
         Price during the Calculation Period from funds made available to Buyer
         under the Credit and Security Agreement) against the total Purchase
         Price of all Receivables Purchased by Buyer during such Calculation
         Period. To the extent the total amounts so remitted exceed such total
         Purchase Price after giving effect to any Purchase Price Credit that
         have not been previously granted to one or more Originators , Parent,
         on behalf of all Originators, shall refund such excess to Buyer on such
         Settlement Date. Although settlement shall be effected on Settlement
         Dates, increases or decreases in the amount , if any, owing under the
         applicable Subordinated Note made pursuant to Section 1.2(b) and any
         contribution of capital by an Originator to Buyer made pursuant to
         Section 1.2(b) shall be deemed to have occurred and shall be effective
         as of the last Business Day of the Calculation Period to which such
         settlement relates.

         Section 1.3 PURCHASE PRICE CREDIT ADJUSTMENTS. If on any day:

              (a) the Outstanding Balance of a Receivable purchased from any
         Originator is:

                   (i) reduced as a result of any defective or rejected or
              returned goods or services, any discount or any adjustment or
              otherwise by such Originator (other than as a result of such
              Receivable becoming a Defaulted Receivable or to reflect cash
              Collections on account of such Receivable),

                   (ii) reduced or canceled as a result of a setoff in respect
              of any claim by any Person (whether such claim arises out of the
              same or a related transaction or an unrelated transaction), or

              (b) any of the representations and warranties set forth in
         Sections 2.1(h), (i), (j), (l), (r), (s), (t), (u), the second sentence
         of Section 2.1(q) hereof and the last clause (relating to bulk sales
         laws) of Section 2.1(c) are not true when made or deemed made with
         respect to any Receivable,

then, in such event, Buyer shall be entitled to a credit (each, a "PURCHASE
PRICE CREDIT") against the Purchase Price otherwise payable to the applicable
Originator hereunder equal to the Outstanding Balance of such Receivable
(calculated before giving effect to the applicable reduction or cancellation).
If such Purchase Price Credit exceeds the Original Balance of the Receivables
originated by the applicable Originator on any day, such Originator shall pay
the

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remaining amount of such Purchase Price Credit in cash immediately, PROVIDED
THAT if the applicable Originator's Termination Date has not occurred, such
Originator shall be allowed to deduct the remaining amount of such Purchase
Price Credit from any indebtedness owed to it under its Subordinated Note.

         Section 1.4 PAYMENTS AND COMPUTATIONS, ETC.. All amounts to be paid or
deposited by Buyer hereunder shall be paid or deposited in accordance with the
terms hereof on the day when due in immediately available funds to the account
of the applicable Originator designated from time to time by such Originator or
as otherwise directed by such Originator. If any payment owed by any Person
hereunder becomes due on a day that is not a Business Day, then such payment
shall be made on the next succeeding Business Day. If any Person fails to pay
any amount hereunder when due, such Person agrees to pay, on demand, the Default
Fee in respect thereof until paid in full; PROVIDED, HOWEVER, that such Default
Fee shall not at any time exceed the maximum rate permitted by applicable law.
All computations of interest payable hereunder shall be made on the basis of a
year of 360 days for the actual number of days (including the first but
excluding the last day) elapsed.

         Section 1.5 LICENSE OF SOFTWARE; TRANSFER OF RECORDS.

              (a) To the extent that any software used by any Originator to
         account for the Receivables originated by it is non transferable, such
         Originator hereby grants to each of Buyer, the Administrative Agent and
         the Servicer an irrevocable, non-exclusive license to use, without
         royalty or payment of any kind, all such software used by such
         Originator to account for such Receivables, to the extent necessary to
         administer such Receivables, whether such software is owned by such
         Originator or is owned by others and used by such Originator under
         license agreements with respect thereto, PROVIDED THAT should the
         consent of any licensor of such software be required for the grant of
         the license described herein, to be effective, such Originator hereby
         agrees that upon the request of Buyer (or Buyer's assignee), such
         Originator will use its reasonable efforts to obtain the consent of
         such third-party licensor. The license granted hereby shall be
         irrevocable until the later to occur of (i) indefeasible payment in
         full of the Obligations, and (ii) the date each of this Agreement and
         the Credit and Security Agreement terminates in accordance with its
         terms.

              (b) Each Originator (i) shall take such action requested by Buyer
         or the Administrative Agent (as Buyer's assignee), from time to time
         hereafter, that may be necessary or appropriate to ensure that Buyer
         and its assigns under the Credit and Security Agreement have an
         enforceable ownership interest in the Records relating to the
         Receivables purchased from such Originator hereunder, and (ii) shall
         use its reasonable efforts to ensure that Buyer, the Administrative
         Agent and the Servicer each has an enforceable right (whether by
         license or sublicense or otherwise) to use all of the computer software
         used to account for such Receivables or to recreate such Records.

         Section 1.6 CHARACTERIZATION. If, notwithstanding the intention of the
parties expressed in SECTION 1.1(c), any sale or contribution by an Originator
to Buyer of Receivables hereunder shall be characterized as a nonrecourse
secured loan and not a sale or such sale shall for any reason be ineffective or
unenforceable, then this Agreement shall be deemed to constitute a

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security agreement under the UCC and other applicable law. For this purpose and
without being in derogation of the parties' intention that the sale of
Receivables by each Originator hereunder shall constitute a true sale thereof,
such Originator hereby grants to Buyer a duly perfected security interest in all
of such Originator's right, title and interest in, to and under all Receivables
of such Originator which are now existing or hereafter arising, all Collections
and Related Security with respect thereto, each Lock-Box and Collection Account,
all other rights and payments relating to such Receivables and all proceeds of
the foregoing to secure the prompt and complete payment of a nonrecourse loan
deemed to have been made in an amount equal to the Purchase Price of the
Receivables purchased from such Originator together with all other obligations
of such Originator hereunder, which security interest shall be prior to all
other Adverse Claims thereto. Buyer and its assigns shall have, in addition to
the rights and remedies which they may have under this Agreement, all other
rights and remedies provided to a secured creditor under the UCC and other
applicable law, which rights and remedies shall be cumulative.

                                   ARTICLE II
                         REPRESENTATIONS AND WARRANTIES

         Section 2.1 REPRESENTATIONS AND WARRANTIES OF ORIGINATORS. Each
Originator hereby represents and warrants to Buyer on the Initial Sale Closing
Date, on the date of the Purchase from such Originator hereunder and on each
date that any Receivable is originated by such Originator on or after the date
of such Purchase, that:

              (a) EXISTENCE AND POWER. Such Originator is a corporation or
         limited liability company duly organized under the laws of the state
         set forth after its name in the preamble to this Agreement (the
         "APPLICABLE STATE"), and no other state or jurisdiction, and as to
         which such Applicable State must maintain a public record showing the
         corporation or limited liability company to have been organized. Such
         Originator is validly existing and in good standing under the laws of
         its Applicable State and is duly qualified to do business and is in
         good standing as a foreign entity, and has and holds all power and all
         governmental licenses, authorizations, consents and approvals required
         to carry on its business in each jurisdiction in which its business is
         conducted except where the failure to so qualify or so hold would not
         reasonably be expected to have a Material Adverse Effect.

              (b) POWER AND AUTHORITY; DUE AUTHORIZATION, EXECUTION AND
         DELIVERY. The execution and delivery by such Originator of this
         Agreement and each other Transaction Document to which it is a party,
         and the performance of its obligations hereunder and thereunder, and
         such Originator's use of the proceeds of the Purchase made from it
         hereunder, are within its organizational powers and authority and have
         been duly authorized by all necessary organizational action on its
         part. This Agreement and each other Transaction Document to which such
         Originator is a party has been duly executed and delivered by such
         Originator.

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              (c) NO CONFLICT. The execution and delivery by such Originator of
         this Agreement and each other Transaction Document to which it is a
         party, and the performance of its obligations hereunder and thereunder
         do not contravene or violate (i) its Organizational Documents, (ii) any
         law, rule or regulation applicable to it, (iii) any restrictions under
         any agreement, contract or instrument to which it is a party or by
         which it or any of its property is bound, or (iv) any order, writ,
         judgment, award, injunction or decree binding on or affecting it or its
         property, and do not result in the creation or imposition of any
         Adverse Claim on assets of such Originator or its Subsidiaries (except
         as created by the Transaction Documents) except, in any case, where
         such contravention or violation would not reasonably be expected to
         have a Material Adverse Effect; and none of the Transactions requires
         compliance with any bulk sales act or similar law.

              (d) GOVERNMENTAL AUTHORIZATION. Other than the filing of the
         financing statements required hereunder, no authorization or approval
         or other action by, and no notice to or filing with, any governmental
         authority or regulatory body is required for the due execution and
         delivery by such Originator of this Agreement and each other
         Transaction Document to which it is a party and the performance of its
         obligations hereunder and thereunder.

              (e) ACTIONS, SUITS. There are no actions, suits or proceedings
         pending, or to the best of such Originator's knowledge, threatened,
         against or affecting such Originator, or any of its properties, in or
         before any court, arbitrator or other body, that would reasonably be
         expected to have a Material Adverse Effect. Such Originator is not in
         default with respect to any order of any court, arbitrator or
         governmental body.

              (f) BINDING EFFECT. This Agreement and each other Transaction
         Document to which such Originator is a party constitute the legal,
         valid and binding obligations of such Originator enforceable against
         such Originator in accordance with their respective terms.

              (g) ACCURACY OF INFORMATION. All information heretofore furnished
         by such Originator or any of its Affiliates to Buyer (or its assigns)
         pursuant to this Agreement or any of the other Transaction Documents or
         the Transaction including Affiliates to Buyer (or its assigns) is, true
         and accurate in every material respect on the date such information is
         stated or certified and does not contain any material misstatement of
         fact or omit to state a material fact or any fact necessary to make the
         statements contained therein, taken as a whole, not misleading.

              (h) USE OF PROCEEDS. No portion of any Purchase Price payment
         hereunder will be used (i) for a purpose that violates, or would be
         inconsistent with, any law, rule or regulation applicable to such
         Originator or (ii) to acquire any security in any transaction which is
         subject to Section 12, 13 or 14 of the Securities Exchange Act of 1934,
         as amended.

              (i) GOOD TITLE. Immediately prior to the Purchase from such
         Originator hereunder and upon the creation of each Receivable
         originated by such Originator after the Initial Cut-Off Date, such
         Originator (i) is the legal and beneficial owner of such Receivables
         and (ii) is the legal and beneficial owner of the Related Security with
         respect thereto or possesses a valid and perfected security interest
         therein, in each case, free and clear of any Adverse Claim, except as
         created by the Transaction Documents. There have been duly filed all
         financing statements or other similar instruments or documents
         necessary under the UCC (or any comparable law) of all

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         appropriate jurisdictions to perfect such Originator's ownership
         interest in each such Receivable, its Collections and the Related
         Security.

              (j) PERFECTION. This Agreement, together with the filing of the
         financing statements contemplated hereby, is effective to transfer to
         Buyer (and Buyer shall acquire from such Originator) (i) legal and
         equitable title to, with the right to sell and encumber each Receivable
         originated by such Originator, whether now existing and hereafter
         arising, together with the Collections with respect thereto, and (ii)
         all of such Originator's right, title and interest in the Related
         Security with respect to each such Receivable, in each case, free and
         clear of any Adverse Claim, except as created by the Transactions
         Documents. There have been duly filed all financing statements or other
         similar instruments or documents necessary under the UCC (or any
         comparable law) of all appropriate jurisdictions to perfect Buyer's
         ownership interest in such Receivables, the Related Security and the
         Collections.

              (k) PLACES OF BUSINESS, JURISDICTION OF ORGANIZATION AND LOCATIONS
         OF RECORDS. The principal places of business, jurisdictions or
         organization and chief executive office of such Originator and the
         offices where it keeps all of its Records are located at the
         address(es) listed on EXHIBIT II or such other locations of which Buyer
         has been notified in accordance with SECTION 4.2(a) in jurisdictions
         where all action required by SECTION 4.2(a) has been taken and
         completed. Such Originator's organizational number assigned to it by
         the Applicable State Federal Employer Identification Number is
         correctly set forth on EXHIBIT II. No Originator has, within a period
         of one year prior to the date hereof, (i) changed the location of its
         principal place of business or chief executive office or its corporate
         structure, (ii) changed its legal names, (iii) become a "new debtor"
         (as defined in Section 9-102(a)(56) (or similar section) of the UCC in
         effect in the Applicable States or (iv) changed its jurisdiction of
         organization. Each Originator is a "registered organization" (within
         the meaning of Section 9-102 (or similar section) of the UCC in effect
         in the Applicable State).

              (l) COLLECTIONS. The conditions and requirements set forth in
         SECTION 4.1(i) have at all times been satisfied and duly performed. The
         names and addresses of all Collection Banks, together with the account
         numbers of the Collection Accounts of such Originator at each
         Collection Bank and the post office box number of each Lock-Box, are
         listed on EXHIBIT III. Such Originator has not granted any Person,
         other than Buyer (and its assigns) dominion and control or "control"
         within the meaning of Section 9-104 of the UCC (or similar section) of
         all applicable jurisdictions (other than the Administrative Agent as
         contemplated by the Credit and Security Agreement) of any Lock-Box or
         Collection Account, or the right to take dominion and control of any
         such Lock-Box or Collection Account at a future time or upon the
         occurrence of a future event.

              (m) MATERIAL ADVERSE EFFECT. Except for the downgrade of the
         Parent by S&P on April 10, 2002, since December 28, 2001 through and
         including the Initial Sale Closing Date, no event has occurred that
         would have a Material Adverse Effect.

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              (n) NAMES. The name in which such Originator has executed this
         Agreement is identical to the name of such Originator as indicated on
         the public record of its state of organization which shows such
         Originator to have been organized. In the past five (5) years, such
         Originator has not used any corporate names, trade names or assumed
         names other than the name in which it has executed this Agreement and
         as listed on EXHIBIT II.

              (o) OWNERSHIP OF BUYER. Parent owns, directly or indirectly, 100%
         of the issued and outstanding Equity Interests of Buyer. Such Equity
         Interests are validly issued, fully paid and nonassessable, and there
         are no options, warrants or other rights to acquire securities of
         Buyer.

              (p) NOT A HOLDING COMPANY OR AN INVESTMENT COMPANY. Such
         Originator is not a "HOLDING COMPANY" or a "SUBSIDIARY HOLDING COMPANY"
         of a "HOLDING COMPANY" within the meaning of the Public Utility Holding
         Company Act of 1935, as amended, or any successor statute. Such
         Originator is not an "INVESTMENT COMPANY" within the meaning of the
         Investment Company Act of 1940, as amended, or any successor statute.

              (q) COMPLIANCE WITH LAW. Such Originator has complied in all
         respects with all applicable laws, rules, regulations, orders, writs,
         judgments, injunctions, decrees or awards to which it may be subject,
         except where the failure to so comply would not reasonably be expected
         to have a Material Adverse Effect. Each Receivable, together with the
         Contract related thereto, does not contravene any laws, rules or
         regulations applicable thereto (INCLUDING laws, rules and regulations
         relating to truth in lending, fair credit billing, fair credit
         reporting, equal credit opportunity, fair debt collection practices and
         privacy), and no part of such Contract is in violation of any such law,
         rule or regulation, except where such contravention or violation would
         not reasonably be expected to have a Material Adverse Effect.

              (r) COMPLIANCE WITH CREDIT AND COLLECTION POLICY. Such Originator
         has complied in all material respects with the Credit and Collection
         Policy with regard to each Receivable originated by it and the related
         Contract, and has not made any material change to such Credit and
         Collection Policy, except such material change as to which Buyer (or
         its assigns) has been notified in accordance with SECTION 4.1(a)(vii).

              (s) PAYMENTS TO SUCH ORIGINATOR. With respect to each Receivable
         originated by such Originator and sold or otherwise transferred to
         Buyer hereunder, the Purchase Price received by such Originator
         constitutes reasonably equivalent value in consideration therefor. No
         transfer hereunder by such Originator of any Receivable originated by
         such Originator is voidable under any section of the Bankruptcy Reform
         Act of 1978 (11 U.S.C. Sections 101 ET SEQ.), as amended.

              (t) ENFORCEABILITY OF CONTRACTS. Each Contract with respect to
         each Receivable is effective to create, and has created, a legal, valid
         and binding obligation of the related Obligor to pay the Outstanding
         Balance of the Receivable created thereunder and any accrued interest
         thereon, enforceable against the Obligor in accordance with its terms.

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              (u) ELIGIBLE RECEIVABLES. Each Receivable reflected in any
         Purchase Report as an Eligible Receivable was an Eligible Receivable on
         the date of its Purchase by Buyer hereunder.

              (v) ACCOUNTING. The manner in which such Originator accounts for
         the Purchases in its financial statements does not jeopardize the
         characterization of the Purchases as being true sales.

                                  ARTICLE III
                             CONDITIONS OF PURCHASE

         Section 3.1 CONDITIONS PRECEDENT TO PURCHASE. The Purchases are subject
to the conditions precedent that (a) Buyer shall have received on or before the
date of such purchase those documents listed on SCHEDULE A and (b) all of the
conditions to the initial loan under the Credit and Security Agreement shall
have been satisfied or waived in accordance therewith.

         Section 3.2 CONDITIONS PRECEDENT TO SUBSEQUENT PURCHASES. Buyer's
obligation to Purchase Receivables coming into existence after each Originator's
Applicable Cutoff Date shall be subject to the further conditions precedent
that: (a) the Facility Termination Date shall not have occurred under the Credit
and Security Agreement; (b) Buyer (or its assigns) shall have received from such
Originator such other approvals, opinions or documents as Buyer may reasonably
request and (c) on the date such Receivable came into existence, the following
statements shall be true (and acceptance of the proceeds of any payment for such
Receivable shall be deemed a representation and warranty by such Originator that
such statements are then true):

              (i)  the representations and warranties set forth in ARTICLE II
              are true and correct in all material respects on and as of the
              date such Receivable came into existence as though made on and
              as of such date; PROVIDED THAT the materiality threshold in the
              preceding clause shall not be applicable with respect to any
              representation or warranty which itself contains a materiality
              threshold; and

              (ii)  no event has occurred and is continuing that will constitute
              a Termination Event or an Unmatured Termination Event; and

              (iii) no event has occurred that would reasonably be expected to
              have a Material Adverse Effect.

Notwithstanding the foregoing conditions precedent, upon payment of the Purchase
Price for any Receivable (whether by payment of cash, through an increase in the
amounts outstanding under the Subordinated Note, by offset of amounts owed to
Buyer or by offset of capital contributions), title to such Receivable and the
Related Security and Collections with respect thereto shall vest in Buyer,
whether or not the conditions precedent to Buyer's obligation to pay for such
Receivable were in fact satisfied. The failure, however, of such Originator to
satisfy any of the foregoing conditions precedent shall give rise to a right of
Buyer to rescind the related Purchase and direct such Originator to pay to Buyer
an amount equal to the Purchase Price payment that shall have been made with
respect to any Receivables related thereto.

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                                   ARTICLE IV
                                    COVENANTS

         Section 4.1 AFFIRMATIVE COVENANTS OF ORIGINATORS. From each
Originator's Applicable Closing Date until the date on which this Agreement
terminates in accordance with its terms, each Originator hereby covenants as set
forth below:

              (a) FINANCIAL PURCHASE REPORTING. Such Originator will maintain,
         for itself and each of its Subsidiaries, a system of accounting
         established and administered in accordance with GAAP, and Parent will
         furnish to Buyer (or its assigns):

                   (i) ANNUAL FINANCIAL REPORTING. Within 120 days after the
              close of each of its respective fiscal years, audited, unqualified
              financial statements (which shall include balance sheets,
              statements of income and retained earnings and a statement of cash
              flows) for the Parent and its Subsidiaries for such fiscal year
              certified in a manner acceptable to Buyer (or its assigns) by
              Deloitte & Touche, LLP or such other independent public
              accountants acceptable to Buyer (or its assigns) (which acceptance
              will not be unreasonably withheld).

                   (ii) QUARTERLY FINANCIAL REPORTING. Within 60 days after the
              close of the first three quarterly periods of each of its
              respective fiscal years, unaudited balance sheets of the Parent
              and its Subsidiaries as at the close of each such period and
              statements of income and retained earnings and an unaudited
              statement of cash flows for the Parent and its Subsidiaries for
              the period from the beginning of such fiscal year to the end of
              such quarter, all certified by an Authorized Officer.

                   (iii) COMPLIANCE CERTIFICATE. Together with the financial
              statements required hereunder, a compliance certificate in
              substantially the form of EXHIBIT IV signed by Parent's Authorized
              Officer and dated the date of such annual financial statement or
              such quarterly financial statement, as the case may be.

                   (iv) SHAREHOLDERS STATEMENTS AND PURCHASE REPORTS. Promptly
              upon the furnishing thereof to the shareholders of Parent, copies
              of all financial statements, reports and proxy statements so
              furnished.

                   (v) S.E.C. FILINGS. Promptly upon the filing thereof, copies
              of all registration statements and annual, quarterly, monthly or
              other regular reports which Parent files with the Securities and
              Exchange Commission.

                   (vi) COPIES OF NOTICES. Promptly upon its receipt of any
              notice, request for consent, financial statements, certification,
              report or other communication under or in connection with any
              Transaction Document from any Person other than Buyer, the
              Administrative Agent or Blue Ridge, copies of the same.

                   (vii) CHANGE IN CREDIT AND COLLECTION POLICY. At least ten
              (10) days prior to the effectiveness of any material change in or
              material amendment to the Credit and Collection Policy, a copy of
              the Credit and Collection Policy then in effect and a notice (1)
              indicating such proposed change or amendment, and (2) if such
              proposed change or amendment would be reasonably likely to affect
              adversely the collectability of the Receivables or decrease

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<Page>

              the credit quality of any newly created Receivables, requesting
              Buyer's (and the Administrative Agent's, as Buyer's assignee)
              consent thereto.

                   (viii) OTHER INFORMATION. Promptly, from time to time, such
              other information, documents, records or reports relating to the
              Receivables originated by such Originator or the condition or
              operations, financial or otherwise, of such Originator as Buyer
              (or its assigns) may from time to time reasonably request in order
              to protect the interests of Buyer (and its assigns) under or as
              contemplated by this Agreement.

              (b) NOTICES. Such Originator will notify Buyer (or its assigns) of
         any of the following promptly upon learning of the occurrence thereof,
         describing the same and, if applicable, the actions being taken with
         respect thereto:

                   (i) TERMINATION EVENTS OR UNMATURED TERMINATION EVENTS. The
              occurrence of each Termination Event and each Unmatured
              Termination Event, by a statement of an Authorized Officer of such
              Originator.

                   (ii) JUDGMENT AND PROCEEDINGS. (1) The entry of any judgment
              or decree against any Originator or any of its Material
              Subsidiaries if the aggregate amount of all judgments and decrees
              then outstanding against the Originators and their Material
              Subsidiaries exceeds $1,000,000 after deducting (a) the amount
              with respect to which the applicable Originator or Material
              Subsidiary is insured and with respect to which the insurer has
              assumed responsibility in writing, and (b) the amount for which
              the applicable Originator or Material Subsidiary is otherwise
              indemnified if the terms of such indemnification are satisfactory
              to Buyer (or its assigns), and (2) the institution of any
              litigation, arbitration proceeding or governmental proceeding
              against any Originator which, individually or in the aggregate,
              would reasonably be expected to have a Material Adverse Effect.

                   (iii) MATERIAL ADVERSE EFFECT. The occurrence of any event or
              condition that has had, or would reasonably be expected to have, a
              Material Adverse Effect.

                   (iv) DEFAULTS UNDER OTHER AGREEMENTS. The occurrence of a
              default or an event of default under any other financing
              arrangement pursuant to which any Originator is a debtor or an
              obligor to the extent that any such other financing arrangement
              has unsatisfied payment obligations in excess of $1,000,000.

                   (v) ERISA EVENTS. The occurrence of any ERISA Event.

                   (vi) DOWNGRADE OF PARENT. Any downgrade in the rating of any
              Indebtedness of Parent by S&P or by Moody's, setting forth the
              Indebtedness affected and the nature of such change.

              (c) COMPLIANCE WITH LAWS AND PRESERVATION OF EXISTENCE. Such
         Originator will comply in all respects with all applicable laws, rules,
         regulations, orders, writs, judgments, injunctions, decrees or awards
         to which it may be subject, except where the failure to so comply would
         not reasonably be expected to have a Material Adverse Effect. Such
         Originator will preserve and maintain its legal existence, rights,
         franchises and privileges in the jurisdiction of its organization, and
         qualify and remain qualified in good standing as a foreign entity in
         each

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<Page>

         jurisdiction where its business is conducted, except where the failure
         to so qualify or remain in good standing would not reasonably be
         expected to have a Material Adverse Effect.

              (d) AUDITS. Such Originator will furnish to Buyer (or its assigns)
         from time to time such information with respect to it and the
         Receivables sold or otherwise transferred by it as Buyer (or its
         assigns) may reasonably request. Such Originator will, from time to
         time during regular business hours as requested by Buyer (or its
         assigns), upon reasonable notice and at the sole cost of such
         Originator, permit Buyer (or its assigns) or their respective agents or
         representatives, (i) to examine and make copies of and abstracts from
         all Records in the possession or under the control of such Originator
         relating to the Receivables and the Related Security, including the
         related Contracts, and (ii) to visit the offices and properties of such
         Originator for the purpose of examining such materials described in
         clause (i) above, and to discuss matters relating to such Originator's
         financial condition or the Receivables and the Related Security or such
         Originator's performance under any of the Transaction Documents or such
         Originator's performance under the Contracts and, in each case, with
         any of the officers or employees of such Originator having knowledge of
         such matters (each of the foregoing examinations and visits, a
         "REVIEW"); PROVIDED, HOWEVER, that, so long as no Amortization Event
         has occurred and is continuing: (1) the Originators, collectively,
         shall only be responsible for the reasonable costs and expenses of one
         Review in any one calendar year, and (2) the Administrative Agent (as
         Buyer's assignee) will not request more than four Reviews in any one
         calendar year.

              (e) KEEPING AND MARKING OF RECORDS AND BOOKS.

                   (i) Such Originator will maintain and implement
              administrative and operating procedures (including an ability to
              recreate records evidencing Receivables in the event of the
              destruction of the originals thereof), and keep and maintain all
              documents, books, records and other information reasonably
              necessary or advisable for the collection of all Receivables
              (including records adequate to permit the immediate identification
              of each new Receivable and all Collections of and adjustments to
              each existing Receivable). Such Originator will give Buyer (or its
              assigns) notice of any material change in the administrative and
              operating procedures referred to in the previous sentence.

                   (ii) Such Originator will (1) on or prior to the Initial Sale
              Closing Date, mark its master data processing records and other
              books and records relating to the Receivables with a legend,
              acceptable to Buyer (or its assigns), describing Buyer's ownership
              interests in the Receivables and further describing the Loans
              under the Credit and Security Agreement and (2) upon the request
              of Buyer (or its assigns): (x) mark each Contract with a legend
              describing Buyer's ownership interests in the Receivables
              originated by such Originator and further describing the Loans
              under the Credit and Security Agreement and (y) deliver to Buyer
              (or its assigns) all Contracts (including all multiple originals
              of any such Contract) relating to such Receivables.

              (f) COMPLIANCE WITH CONTRACTS AND CREDIT AND COLLECTION POLICY.
         Such Originator will timely and fully (i) perform and comply with all
         provisions, covenants and other

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<Page>

         promises required to be observed by it under the Contracts related to
         the Receivables originated by it, and (ii) comply in all material
         respects with the Credit and Collection Policy in regard to each such
         Receivable and the related Contract.

              (g) OWNERSHIP. Such Originator will take all necessary action to
         establish and maintain, irrevocably in Buyer, (1) legal and equitable
         title to the Receivables originated by such Originator and the
         Collections and (2) all of such Originator's right, title and interest
         in the Related Security associated with the Receivables originated by
         such Originator, in each case, free and clear of any Adverse Claims
         other than Adverse Claims in favor of Buyer (and its assigns)
         (INCLUDING the filing of all financing statements or other similar
         instruments or documents necessary under the UCC (or any comparable
         law) of all appropriate jurisdictions to perfect Buyer's interest in
         such Receivables, Related Security and Collections and such other
         action to perfect, protect or more fully evidence the interest of Buyer
         as Buyer (or its assigns) may reasonably request).

              (h) LENDER'S RELIANCE. Such Originator acknowledges that the
         Administrative Agent and the Lenders are entering into the transactions
         contemplated by the Credit and Security Agreement in reliance upon
         Buyer's identity as a legal entity that is separate from such
         Originator and any Affiliates thereof. Therefore, from and after the
         date of execution and delivery of this Agreement, such Originator will
         take all reasonable actions including all actions that Buyer or any
         assignee of Buyer may from time to time reasonably request to maintain
         Buyer's identity as a separate legal entity and to make it manifest to
         third parties that Buyer is an entity with assets and liabilities
         distinct from those of such Originator and any Affiliates thereof and
         not just a division of such Originator or any such Affiliate. Without
         limiting the generality of the foregoing and in addition to the other
         covenants set forth herein, such Originator (i) will not hold itself
         out to third parties as liable for the debts of Buyer nor purport to
         own any of the Receivables and other assets acquired by Buyer, (ii)
         will take all other actions necessary on its part to ensure that Buyer
         is at all times in compliance with the "separateness covenants" set
         forth in SECTION 7.1(i) of the Credit and Security Agreement and (iii)
         will cause all tax liabilities arising in connection with the
         Transactions or otherwise to be allocated between such Originator and
         Buyer on an arm's-length basis and in a manner consistent with the
         procedures set forth in U.S. Treasury Regulations Sections 1.1502-33(d)
         and 1.1552-1.

              (i) COLLECTIONS. Such Originator will cause (1) all proceeds from
         all Lock-Boxes to be directly deposited by a Collection Bank into a
         Collection Account and (2) each Lock-Box and Collection Account to be
         subject at all times to a Collection Account Agreement that is in full
         force and effect. If any payments relating to Receivables are remitted
         directly to such Originator or any Affiliate thereof, such Originator
         will remit (or will cause all such payments to be remitted) directly to
         a Collection Bank and deposited into a Collection Account within two
         Business Days following receipt thereof and, at all times prior to such
         remittance, such Originator will itself hold or, if applicable, will
         cause such payments to be held in trust for the exclusive benefit of
         Buyer and its assigns. Such Originator will transfer exclusive
         ownership, dominion and control of each Lock-Box and Collection Account
         to Buyer and, will not grant the right to take dominion and control of
         any Lock-Box or Collection Account at a future time or upon the
         occurrence of a future event to any Person, except to Buyer (or its
         assigns) as contemplated by this Agreement and the Credit and Security
         Agreement.

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              (j) TAXES. Such Originator will file all tax returns and reports
         required by law to be filed by it and promptly pay all taxes and
         governmental charges at any time due and owing the non-filing or
         non-payment of which would reasonably be expected to result in a
         Material Adverse Effect, except any such taxes which are not yet
         delinquent or are being diligently contested in good faith by
         appropriate proceedings and for which adequate reserves in accordance
         with GAAP shall have been set aside on its books. Such Originator will
         pay when due any taxes payable in connection with the Receivables
         originated by it, exclusive of taxes on or measured by income or gross
         receipts of Buyer and its assigns.

         Section 4.2 NEGATIVE COVENANTS OF ORIGINATORS. From each Originator's
Applicable Closing Date until the date on which this Agreement terminates in
accordance with its terms, each Originator hereby covenants that:

              (a) NAME CHANGE, JURISDICTION OF ORGANIZATION, CORPORATE
         STRUCTURE, OFFICES AND RECORDS. Such Originator will not change its
         jurisdiction of organization, name, identity or structure (within the
         meaning of Sections 9-503 or 9-507 of the UCC of all applicable
         jurisdictions) or relocate its chief executive office at any time while
         the location of its chief executive office is relevant to perfection of
         Buyer's interest in the Receivables or the associated Related Security
         and Collections with respect thereto or any office where Records are
         kept unless it shall have: (i) given Buyer (and the Administrative
         Agent, as its assignee) at least 30 days' prior notice thereof and (ii)
         delivered to the Administrative Agent (as Buyer's assignee) all
         financing statements, instruments and other documents requested by the
         Administrative Agent in connection with such change or relocation.

              (b) CHANGE IN PAYMENT INSTRUCTIONS TO OBLIGORS. Such Originator
         will not add or terminate any bank as a Collection Bank, or make any
         change in the instructions to Obligors regarding payments to be made to
         any Lock-Box or Collection Account, unless Buyer (or its assigns) shall
         have received, at least 10 days before the proposed effective date
         therefor, (i) notice of such addition, termination or change and (ii)
         with respect to the addition of a Collection Bank or a Collection
         Account or Lock-Box, an executed Collection Account Agreement with
         respect to the new Collection Account or Lock-Box; PROVIDED, HOWEVER,
         that such Originator may make changes in instructions to Obligors
         regarding payments if such new instructions require such Obligor to
         make payments to another existing Collection Account.

              (c) MODIFICATIONS TO CONTRACTS AND CREDIT AND COLLECTION POLICY.
         Such Originator will not make any change to the Credit and Collection
         Policy that would reasonably be expected to affect adversely the
         collectability of the Receivables originated by it or decrease the
         credit quality of any of its newly created Receivables. Except as
         otherwise permitted in its capacity as Servicer pursuant to the Credit
         and Security Agreement, such Originator will not extend, amend or
         otherwise modify the terms of any Receivable or any Contract related
         thereto other than in accordance with the Credit and Collection Policy.

              (d) SALES, LIENS. Except as otherwise provided in any Transaction
         Document, such Originator will not sell, assign (by operation of law or
         otherwise) or otherwise dispose of, or grant any option with respect
         to, or create or suffer to exist any Adverse Claim upon (including the
         filing of any financing statement) or with respect to, any Receivable,
         Related Security or Collections, or upon or with respect to any
         Contract under which any Receivable

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         arises, or any Lock-Box or Collection Account, or assign any right to
         receive income with respect thereto, and such Originator will defend
         the right, title and interest of Buyer in, to and under any of the
         foregoing property, against all claims of third parties claiming
         through or under such Originator.

              (e) ACCOUNTING FOR PURCHASE. Such Originator will not, and will
         not permit any Affiliate to, financially account (whether in financial
         statements or otherwise) for the Purchases in any manner other than the
         sale or other outright conveyance by such Originator to Buyer of the
         Receivables originated by such Originator and the associated Related
         Security with respect thereto or in any other respect account for or
         treat the Purchases in any manner other than as a sale of such
         Receivables and Related Security by such Originator to Buyer except to
         the extent that such Purchases are not recognized on account of
         consolidated financial reporting in accordance with GAAP.

                                   ARTICLE V
                        JOINDER OF ADDITIONAL ORIGINATORS

         Section 5.1 ADDITION OF NEW ORIGINATORS. From time to time upon not
less than 30 days' prior notice to the Buyer and the Administrative Agent (or
such shorter period of time as the Administrative Agent may agree upon), Parent
may propose that one or more of its existing or hereafter acquired wholly-owned
Subsidiaries become an Originator hereunder. No such addition shall become
effective (a) if such addition constitutes a Material Proposed Addition, without
the consent of the Administrative Agent and each of the rating agencies which is
then rating Commercial Paper of Blue Ridge but may become effective prior to
such 30th day if such consent is given more promptly and (b) unless all
conditions precedent to such addition required by SECTION 5.2 are satisfied
prior to such date.

         Section 5.2 DOCUMENTATION. If the Buyer and the Administrative Agent
consent to the addition of a New Originator, such New Originator will execute a
Joinder Agreement and shall deliver each of the documents, certificates and
opinions required to be delivered under SECTION 3.1 prior to such New
Originator's Closing Date, together with such updated Schedules and Exhibits as
may be necessary to ensure that after giving effect to the addition of such New
Originator, each of the representations and warranties of such New Originator
under ARTICLE II will be true and correct, and the Buyer will deliver a
Subordinated Note to such New Originator.

                                   ARTICLE VI
                               TERMINATION EVENTS

         Section 6.1 TERMINATION EVENTS. The occurrence of any one or more of
the following events shall constitute a Termination Event:

              (a) Any Originator shall fail to make any payment or deposit
         required hereunder when due; PROVIDED, HOWEVER, that no Termination
         Event shall occur under this Section 6.1(a) as a result of any late
         payment or deposit which is cured within one Business Day if (i) such
         late payment or deposit was due to circumstances beyond such
         Originator's control, (ii) such late payment or deposit do not occur
         more than two times

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         in any calendar year, and (iii) such Originator pays interest on the
         overdue amount of such payment or deposit until paid at the Default
         Rate.

              (b) Any Originator shall fail to perform or observe any term,
         covenant or agreement hereunder (other than as referred to in clause
         (a) of Section 6.1 or any other Transaction Document to which it is a
         party and such failure shall continue for ten consecutive Business
         Days.

              (c) Any representation, warranty, certification or statement made
         by any Originator in this Agreement, any other Transaction Document or
         in any other document delivered pursuant hereto or thereto shall prove
         to have been incorrect in any material respect when made or deemed
         made; PROVIDED THAT the materiality threshold in the preceding clause
         shall not be applicable with respect to any representation or warranty
         which itself contains a materiality threshold and PROVIDED FURTHER,
         that any misrepresentation or certification for which Buyer has
         actually received a Purchase Price Credit shall not constitute a
         Termination Event hereunder.

              (d) Failure of any Originator to pay any Indebtedness when due in
         excess of $5,000,000; or the default by any Originator in the
         performance of any term, provision or condition contained in any
         agreement under which any such Indebtedness was created or is governed,
         the effect of which is to cause, or to permit the holder or holders of
         such Indebtedness to cause, such Indebtedness to become due prior to
         its stated maturity; or any such Indebtedness of any Originator shall
         be declared to be due and payable or required to be prepaid (other than
         by a regularly scheduled payment) prior to the date of maturity
         thereof.

              (e) (i) Any Originator or any of its Material Subsidiaries shall
         generally not pay its debts as such debts become due or shall admit in
         writing its inability to pay its debts generally or shall make a
         general assignment for the benefit of creditors; or (ii) a case or
         other proceeding shall be commenced, without the application or consent
         of such Originator or any of its Material Subsidiaries, in any court,
         seeking the liquidation, reorganization, debt arrangement, dissolution,
         winding up, or composition or readjustment of debts of such Originator
         or any of its Material Subsidiaries, the appointment of a trustee,
         receiver, custodian, liquidator, assignee, sequestrator or the like for
         such Originator or any of its Material Subsidiaries or all or
         substantially all of its assets, or any similar action with respect to
         such Originator or any of its Material Subsidiaries under any law
         relating to bankruptcy, insolvency, reorganization, winding up or
         composition or adjustment of debts, and such case or proceeding shall
         continue undismissed, or unstayed and in effect, for a period of 60
         consecutive days; or an order for relief in respect of such Originator
         or any of its Material Subsidiaries shall be entered in an involuntary
         case under the federal bankruptcy laws or other similar laws now or
         hereafter in effect or (iii) any Originator or any of its Material
         Subsidiaries shall take any corporate action to authorize any of the
         actions set forth in the foregoing clauses (i) or (ii) of this
         subsection (e).

              (f) A Change of Control shall occur.

                                       18
<Page>

              (g) One or more final judgments for the payment of money in an
         amount in excess of $5,000,000, individually or in the aggregate, shall
         be entered against any Originator on claims not covered by insurance or
         as to which the insurance carrier has denied its responsibility, and
         such judgment shall continue unsatisfied and in effect for thirty
         consecutive days without a stay of execution.

              (h) An ERISA Event shall occur with respect to a Pension Plan or
         Multiemployer Plan which has resulted or could reasonably be expected
         to result in liability of any Originator under Title IV of ERISA to
         such Pension Plan, such Multiemployer Plan or the PBGC in an aggregate
         amount in excess of $1,000,000; (ii) the aggregate amount of
         Unfunded-Pension Liability among all Pension Plans at any time exceeds
         $1,000,000; or (iii) any Originator or any ERISA Affiliate shall fail
         to pay when due, after the expiration of any applicable grace period,
         any installment payment with respect to its withdrawal liability under
         Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount
         in excess of $1,000,000.

         Section 6.2 REMEDIES. Upon the occurrence and during the continuation
of a Termination Event, Buyer may take any of the following actions: (i) declare
the applicable Originator's Termination Date to have occurred, whereupon such
Originator's Termination Date shall forthwith occur, without demand, protest or
further notice of any kind, all of which are hereby expressly waived by each
Originator; PROVIDED, HOWEVER, that upon the occurrence of a Termination Event
described in Section 6.1(e), or of an actual or deemed entry of an order for
relief with respect to such Originator under the Federal Bankruptcy Code, such
Originator's Termination Date shall automatically occur, without demand, protest
or any notice of any kind, all of which are hereby expressly waived by each
Originator and (ii) to the fullest extent permitted by applicable law, declare
that the Default Fee shall accrue with respect to any amounts then due and owing
by such Originator to Buyer. The aforementioned rights and remedies shall be
without limitation and shall be in addition to all other rights and remedies of
Buyer and its assigns otherwise available under any other provision of this
Agreement, by operation of law, at equity or otherwise, all of which are hereby
expressly preserved, including all rights and remedies provided under the UCC,
all of which rights shall be cumulative.

                                   ARTICLE VII
                                 INDEMNIFICATION

         Section 7.1 INDEMNITIES BY ORIGINATORS. Without limiting any other
rights that Buyer may have hereunder or under applicable law, each Originator
hereby agrees to indemnify (and pay upon demand to) Buyer and its assigns,
officers, directors, agents and employees (each an "INDEMNIFIED PARTY") from and
against any and all damages, losses, claims, taxes, liabilities, costs, expenses
and for all other amounts payable, including reasonable attorneys' fees and
disbursements (all of the foregoing being collectively referred to as
"INDEMNIFIED AMOUNTS") awarded against or incurred by any of them to the extent
arising out of or as a result of this Agreement or the acquisition, either
directly or indirectly, by Buyer of an interest in the Receivables originated by
such Originator, EXCLUDING, HOWEVER:

              (a) Indemnified Amounts to the extent a final judgment of a court
         of competent jurisdiction holds that such Indemnified Amounts resulted
         from gross

                                       19
<Page>

         negligence or willful misconduct on the part of the Indemnified Party
         seeking indemnification;

              (b) Indemnified Amounts to the extent the same includes losses in
         respect of Receivables originated by such Originator that are
         uncollectible on account of the insolvency, bankruptcy or lack of
         creditworthiness of the related Obligor;

              (c) taxes imposed by the jurisdiction in which such Indemnified
         Party's principal executive office is located, on or measured by the
         overall net income of such Indemnified Party; or

              (d) amounts for which Buyer has actually received a Purchase Price
         Credit as required by Section 1.3;

PROVIDED, HOWEVER, that nothing contained in this sentence shall limit the
liability of such Originator or limit the recourse of Buyer to such Originator
for amounts otherwise specifically provided to be paid by such Originator under
the terms of this Agreement. Without limiting the generality of the foregoing
indemnification, but subject in each case to clauses (a), (b), (c) and (d)
above, each Originator shall indemnify (without duplication) Buyer for
Indemnified Amounts relating to or resulting from:

                    (i) any representation or warranty made or deemed made by
         such Originator (or any officers of Performance Guarantor or such
         Originator) under or in connection with any Purchase Report, this
         Agreement, any other Transaction Document or any other information or
         report delivered by Performance Guarantor or such Originator pursuant
         hereto or thereto for which Buyer has not received a Purchase Price
         Credit that shall have been false or incorrect when made or deemed
         made;

                    (ii) the failure by such Originator, to comply with any
         applicable law, rule or regulation with respect to any Receivable or
         Contract related thereto, or the nonconformity of any Receivable or
         Contract included therein with any such applicable law, rule or
         regulation or any failure of such Originator to keep or perform any of
         its obligations, express or implied, with respect to any Contract;

                    (iii) any failure of Performance Guarantor or such
         Originator to perform its duties, covenants or other obligations in
         accordance with the provisions of this Agreement or any other
         Transaction Document to which it is a party;

                    (iv) any products liability, personal injury or damage, suit
         or other similar claim arising out of or in connection with
         merchandise, insurance or services that are the subject of any Contract
         or any Receivable;

                    (v) any dispute, claim, offset or defense (other than
         discharge in bankruptcy of the Obligor) of the Obligor to the payment
         of any Receivable (including a defense based on such Receivable or the
         related Contract not being a legal, valid and binding obligation of
         such Obligor enforceable against it in accordance with its terms), or

                                     20
<Page>

         any other claim resulting from the sale of the merchandise or service
         related to such Receivable or the furnishing or failure to furnish such
         merchandise or services;

                    (vi) the commingling of Collections of Receivables at any
         time with other funds;

                    (vii) any investigation, litigation or proceeding related to
         or arising from this Agreement or any other Transaction Document, the
         Transactions, such Originator's use of the proceeds of the Purchase
         from it hereunder, the ownership of the Receivables originated by such
         Originator or any other investigation, litigation or proceeding
         relating to such Originator in which any Indemnified Party becomes
         involved as a result of any of the Transactions;

                    (viii) any inability to litigate any claim against any
         Obligor in respect of any Receivable as a result of such Obligor being
         immune from civil and commercial law and suit on the grounds of
         sovereignty or otherwise from any legal action, suit or proceeding;

                    (ix) any Termination Event described in SECTION 6.1(e);

                    (xi) any failure to vest and maintain vested in Buyer, or to
         transfer to Buyer, legal and equitable title to, and ownership of, the
         Receivables originated by such Originator and the associated
         Collections, and all of such Originator's right, title and interest in
         the Related Security associated with such Receivables, in each case,
         free and clear of any Adverse Claim (except as otherwise contemplated
         by this Agreement or any other Transaction Document);

                    (xii) the failure to have filed, or any delay in filing,
         financing statements or other similar instruments or documents under
         the UCC of any applicable jurisdiction or other applicable laws with
         respect to any Receivable originated by such Originator, the Related
         Security and Collections with respect thereto, and the proceeds of any
         thereof, whether at the time of the Purchase from such Originator
         hereunder or at any subsequent time;

                    (xiii) any action or omission by such Originator which
         reduces or impairs the rights of Buyer with respect to any Receivable
         or the value of any such Receivable;

                    (xiv) any successful attempt by any Person to void the
         Purchase from such Originator hereunder under statutory provisions or
         common law or equitable action; and

                    (xvi) the failure of any Receivable reflected as an Eligible
         Receivable on any Purchase Report prepared by such Originator to be an
         Eligible Receivable at the time acquired by Buyer.

         Section 7.2 OTHER COSTS AND EXPENSES. Each Originator shall pay to
Buyer on demand all costs and out-of-pocket expenses in connection with the
preparation, execution, delivery and

                                       21
<Page>

administration of this Agreement, the Transactions and the other documents to be
delivered hereunder. Each Originator shall pay to Buyer on demand any and all
costs and expenses of Buyer, if any, including reasonable counsel fees and
expenses in connection with the enforcement of this Agreement and the other
documents delivered hereunder and in connection with any restructuring or
workout of this Agreement or such documents, or the administration of this
Agreement following a Termination Event.

                                  ARTICLE VIII
                                  MISCELLANEOUS

         Section 8.1 WAIVERS AND AMENDMENTS.

              (a) No failure or delay on the part of Buyer (or its assigns), the
         Servicer or any Originator in exercising any power, right or remedy
         under this Agreement shall operate as a waiver thereof, nor shall any
         single or partial exercise of any such power, right or remedy preclude
         any other further exercise thereof or the exercise of any other power,
         right or remedy. The rights and remedies herein provided shall be
         cumulative and nonexclusive of any rights or remedies provided by law.
         Any waiver of this Agreement shall be effective only in the specific
         instance and for the specific purpose for which given.

              (b) No provision of this Agreement may be amended, supplemented,
         modified or waived except in writing signed by each Originator and
         Buyer and, to the extent required under the Credit and Security
         Agreement, the Administrative Agent and the Liquidity Banks or the
         Required Liquidity Banks. Any material amendment, supplement,
         modification of waiver will required satisfaction of the Rating Agency
         Condition.

         Section 8.2 NOTICES. All notices, consents, approvals, demands and
other communications provided for, permitted or contemplated hereunder
(including Sections 4.1(b), 4.2(a), 4.2(b), 5.1 and 8.10) shall be in writing
(including bank wire, telecopy or electronic facsimile transmission or similar
writing) and shall be given to the other parties hereto at their respective
addresses or telecopy numbers set forth on the signature pages hereof or at such
other address or telecopy number as such Person may hereafter specify for the
purpose of notice to each of the other parties hereto. Each such notice or other
communication shall be effective (a) if given by telecopy, upon the receipt
thereof, (b) if given by mail (other than certified or registered mail), five
Business Days after the time such communication is deposited in the mail with
first class postage prepaid or (c) if given by any other means, when received at
the address specified in this SECTION 8.2.

         Section 8.3 PROTECTION OF OWNERSHIP INTERESTS OF BUYER.

              (a) Each Originator agrees that from time to time, at its expense,
         it will promptly execute and deliver all instruments and documents, and
         take all actions, that may be necessary or desirable, or that Buyer (or
         its assigns) may request, to perfect, protect or more fully evidence
         the interest of Buyer hereunder, or to enable Buyer (or its assigns) to
         exercise and enforce their rights and remedies hereunder. Without
         limiting the foregoing, Originator will, upon the request of the Buyer
         (or its assigns), file such

                                       22

<Page>

         financing or continuation statements, or amendments thereto or
         assignments thereof, and execute and file such other instruments and
         documents, that may be necessary or desirable, or that the Buyer may
         reasonably request, to perfect, protect or evidence such interest of
         the Buyer hereunder. At any time, Buyer (or its assigns) may, at such
         Originator's sole cost and expense, direct such Originator to notify
         the Obligors of Receivables of the ownership interests of Buyer under
         this Agreement and may also direct that payments of all amounts due or
         that become due under any or all Receivables be made directly to Buyer
         or its designee.

              (b) If any Originator fails to perform any of its obligations
         hereunder, Buyer (or its assigns) may (but shall not be required to)
         perform, or cause performance of, such obligations, and Buyer's (or
         such assigns') costs and expenses incurred in connection therewith
         shall be payable by such Originator as provided in Section 8.2. Each
         Originator irrevocably authorizes Buyer (and its assigns) at any time
         and from time to time in the sole discretion of Buyer (or its assigns),
         and appoints Buyer (and its assigns) as its attorney(ies)-in-fact, to
         act on behalf of such Originator (i) to execute on behalf of such
         Originator as debtor and to file financing statements necessary or
         desirable in Buyer's (or its assigns') sole discretion to perfect and
         to maintain the perfection and priority of the interest of Buyer in the
         Receivables originated by such Originator and the Related Security and
         Collections with respect thereto and (ii) to file a carbon,
         photographic or other reproduction of this Agreement or any financing
         statement with respect to the Receivables as a financing statement in
         such offices as Buyer (or its assigns) in its sole discretion deem
         necessary or desirable to perfect and to maintain the perfection and
         priority of Buyer's interests in such Receivables. This appointment is
         coupled with an interest and is irrevocable. The authorization of each
         Originator set forth in the second sentence of this Section 8.3(b) is
         intended to meet all requirements for authorization by a debtor under
         Article 9 of the UCC in effect in the Applicable State, including,
         Section 9-509 thereof. Each Originator acknowledges and agrees that it
         is not authorized to, and will not, file financing statements or other
         filing or recording documents with respect to the Receivables or
         Related Security (including any amendments thereto, or continuation or
         termination statements thereof), without the express prior approval by
         the Administrative Agent (as Buyer's assignee), consenting to the form
         and substance of such filing or recording document. Each Originator
         approves, authorizes and ratifies any filings or recordings made by or
         on behalf of the Administrative Agent (as Buyer's assign) in connection
         with the perfection of the ownership or security interests in favor of
         Buyer or the Administrative Agent (as Buyer's assign).

         Section 8.4 CONFIDENTIALITY.

              (a) Each Originator and Buyer shall maintain and shall cause each
         of its employees and officers to maintain the confidentiality of the
         Amended and Restated Fee Letter and the other confidential or
         proprietary information with respect to the Administrative Agent and
         Blue Ridge and their respective businesses obtained by it or them in
         connection with the structuring, negotiating and execution of the
         Transactions, except that such Originator and its officers and
         employees may disclose such information

                                       23

<Page>

         to such Originator's external accountants, attorneys and other advisors
         and as required by any applicable law or order of any judicial or
         administrative proceeding.

              (b) Each Originator hereby consents to the disclosure of any
         nonpublic information with respect to it (i) to Buyer, the
         Administrative Agent, the Liquidity Banks or Blue Ridge by each other,
         (ii) to any prospective or actual assignee or participant of any of the
         Persons described in clause (i), and (iii) to any rating agency,
         Commercial Paper dealer or provider of a surety, guaranty or credit or
         liquidity enhancement to Blue Ridge or any entity organized for the
         purpose of purchasing, or making loans secured by, financial assets for
         which Wachovia acts as the administrative agent and to any officers,
         directors, employees, outside accountants and attorneys of any of the
         foregoing, PROVIDED each such Person described in the foregoing clauses
         (ii) and (iii) is informed of the confidential nature of such
         information. In addition, the Lenders and the Administrative Agent may
         disclose any such nonpublic information pursuant to any law, rule,
         regulation, direction, request or order of any judicial, administrative
         or regulatory authority or proceedings (whether or not having the force
         or effect of law).

         Section 8.5 BANKRUPTCY PETITION.

              (a) Each Originator and Buyer each hereby covenants and agrees
         that, prior to the date that is one year and one day after the payment
         in full of all outstanding senior indebtedness of Blue Ridge, it will
         not institute against, or join any other Person in instituting against,
         Blue Ridge any bankruptcy, reorganization, arrangement, insolvency or
         liquidation proceedings or other similar proceeding under the laws of
         the United States or any state of the United States.

              (b) Each Originator covenants and agrees that, prior to the date
         that is one year and one day after the payment in full of all
         outstanding obligations of Buyer under the Credit and Security
         Agreement, it will not institute against, or join any other Person in
         instituting against Buyer any bankruptcy, reorganization, arrangement,
         insolvency or liquidation proceedings or other similar proceeding under
         the laws of the United States or any state of the United States.

         Section 8.6 LIMITATION OF LIABILITY. Except with respect to any claim
arising out of the willful misconduct or gross negligence of any Originator,
Buyer, Blue Ridge, the Administrative Agent or any Liquidity Bank, no claim may
be made by any such Person (or its Affiliates, directors, officers, employees,
attorneys or agents) against any such other Person (or its Affiliates,
directors, officers, employees, attorneys or agents) for any special, indirect,
consequential or punitive damages in respect of any claim for breach of contract
or any other theory of liability arising out of or related to the Transactions,
or any act, omission or event occurring in connection therewith; and each of the
parties hereto, on behalf of itself and its Affiliates, directors, officers,
employees, attorneys, agents, successors and assigns, hereby waives, releases,
and agrees not to sue upon any claim for any such damages, whether or not
accrued and whether or not known or suspected to exist in its favor.

                                       24

<Page>

         Section 8.7 CHOICE OF LAW. THIS AGREEMENT SHALL BE GOVERNED AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF
THE STATE OF NEW YORK.

         Section 8.8 CONSENT TO JURISDICTION. ORIGINATOR HEREBY IRREVOCABLY
SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW
YORK STATE COURT SITTING IN NEW YORK, NEW YORK IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY DOCUMENT EXECUTED BY
ORIGINATOR PURSUANT TO THIS AGREEMENT AND ORIGINATOR HEREBY IRREVOCABLY AGREES
THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND
DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR
HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN
SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. NOTHING HEREIN SHALL
LIMIT THE RIGHT OF BUYER (OR ITS ASSIGNS) TO BRING PROCEEDINGS AGAINST
ORIGINATOR IN THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY
ORIGINATOR AGAINST BUYER (OR ITS ASSIGNS) OR ANY AFFILIATE THEREOF INVOLVING,
DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR
CONNECTED WITH THIS AGREEMENT OR ANY DOCUMENT EXECUTED BY ORIGINATOR PURSUANT TO
THIS AGREEMENT SHALL BE BROUGHT ONLY IN A COURT IN NEW YORK, NEW YORK.

         Section 8.9 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES TRIAL
BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER
(WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF,
RELATED TO, OR CONNECTED WITH THIS AGREEMENT, ANY DOCUMENT EXECUTED BY
ORIGINATOR PURSUANT TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER
OR THEREUNDER.

         Section 8.10 INTEGRATION; BINDING EFFECT; SURVIVAL OF TERMS. This
Agreement and each other Transaction Document contain the final and complete
integration of all prior expressions by the parties hereto with respect to the
subject matter hereof and shall constitute the entire agreement among the
parties hereto with respect to the subject matter hereof superseding all prior
oral or written understandings.

              (a) This Agreement shall be binding upon and inure to the benefit
         of the Originators, Buyer and their respective successors and permitted
         assigns (including any trustee in bankruptcy). Except in connection
         with a Permitted Restructuring, no Originator may assign any of its
         rights and obligations hereunder or any interest herein without the
         prior consent of Buyer. Buyer may assign at any time its rights and
         obligations hereunder and interests herein to any other Person without
         the consent of any Originator. Without limiting the foregoing, each
         Originator acknowledges that Buyer, pursuant to the Credit and Security
         Agreement, may grant to the Administrative Agent, for the benefit of
         the Lenders and as defined in the Credit and Security Agreement, a
         security interest in its rights, remedies, powers and privileges
         hereunder. Each Originator

                                       25

<Page>

         agrees that the Administrative Agent, as the assignee of Buyer, shall,
         subject to the terms of the Credit and Security Agreement, have the
         right to enforce this Agreement and to exercise directly all of Buyer's
         rights and remedies under this Agreement (including the right to give
         or withhold any consents or approvals of Buyer to be given or withheld
         hereunder) and each Originator agrees to cooperate fully with the
         Administrative Agent in the exercise of such rights and remedies. This
         Agreement shall create and constitute the continuing obligations of the
         parties hereto in accordance with its terms and shall remain in full
         force and effect until terminated in accordance with its terms;
         PROVIDED, HOWEVER, that the rights and remedies with respect to (i) any
         breach of any representation and warranty made by any Originator
         pursuant to Article II; (ii) the indemnification and payment provisions
         of Article VII; and (iii) Section 8.5 shall be continuing and shall
         survive any termination of this Agreement.

         Section 8.11 COUNTERPARTS; SEVERABILITY. This Agreement may be executed
in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same
Agreement. Any provisions of this Agreement which are prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

         Section 8.12 CONSTRUCTION OF THIS AGREEMENT AND CERTAIN TERMS AND
PHRASES.

              (a) Unless the context of this Agreement otherwise requires, (i)
         words of any gender include each gender; (ii) words using the singular
         or plural number also include the plural or singular number,
         respectively; (iii) the terms "hereof," "herein," "hereby," and
         derivative or similar words refer to this entire Agreement and not to
         any particular provision of this Agreement; and (iv) the terms
         "Article," "Section," "Schedule" and "Exhibit" without reference to a
         specified document refer to the specified Article, Section, Schedule
         and Exhibit, respectively, of this Agreement.

              (b) The words "including," "include" and "includes" are not
         exclusive and shall be deemed to be followed by the words "without
         limitation"; if exclusion is intended, the word "compromising" is used
         instead.

              (c) The word "or" shall be construed to mean "and/or" unless the
         context clearly prohibits that construction.

              (d) Whenever this Agreement refers to a number of days, such
         number shall refer to calendar days unless Business Days are specified.

              (e) All accounting terms used herein and not expressly defined
         herein shall have the meanings given to them under GAAP as consistently
         applied by the Person whose financial statements or practices are at
         issue.

              (f) All terms used in Article 9 of the UCC in the State of New
         York and not specifically defined herein shall have the meaning given
         to them in such Article 9.

                                       26

<Page>

              (g) Any representation or warranty contained herein as to the
         enforceability of a contract shall be subject to the effect of any
         bankruptcy, insolvency, reorganization, moratorium or other similar law
         affecting the enforcement of creditors' rights generally and to general
         equitable principles (regardless of whether such enforceability is
         considered in a proceeding in equity or at law).

                              [SIGNATURE TO FOLLOW]

                                       27

<Page>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed and delivered by their duly authorized officers as of the date hereof.

                              SPHERION CORPORATION

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                             SPHERION ASSESSMENT INC.

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                             NORCROSS TELESERVICES INC.

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                  [Originator Signature Page to Spherion RSA]

<Page>

                             COMTEX INFORMATION SYSTEMS, INC.

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                             SPHERION PACIFIC ENTERPRISES LLC

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                  [Originator Signature Page to Spherion RSA]

<Page>

                             SPHERION ATLANTIC ENTERPRISES LLC

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                             SPHERION PACIFIC OPERATIONS LLC

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                             SPHERION ATLANTIC OPERATIONS LLC

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                  [Originator Signature Page to Spherion RSA]

<Page>

                             SPHERION ATLANTIC RESOURCES LLC

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                             SPHERION ATLANTIC WORKFORCE LLC

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                             SPHERION PACIFIC RESOURCES LLC

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                  [Originator Signature Page to Spherion RSA]

<Page>

                             SPHERION PACIFIC WORKFORCE LLC

                             By:      /s/ Peter Houchin
                                      --------------------------
                             Name:    Peter Houchin
                             Title:   Vice President, Corporate Finance
                                      and Treasury and Treasurer

                                      ADDRESS:    2050 Spectrum Boulevard
                                                  Fort Lauderdale, Florida 33309
                                                  Attention: General Counsel
                                                  Telephone: (954) 938-7600
                                                  Fax: (954) 938-7780

                  [Originator Signature Page to Spherion RSA]

<Page>

                          SPHERION RECEIVABLES LLC, formerly
                          known as Spherion Receivables Corp.

                          By:      /s/ Peter Houchin
                                   --------------------------
                          Name:    Peter Houchin
                          Title:   Vice President, Corporate Finance and
                                   Treasury and Treasurer

                                   ADDRESS:  2050 Spectrum Boulevard
                                             Fort Lauderdale, Florida 33309
                                             Attention: General Counsel
                                             Telephone: (954) 938-7600
                                             Fax: (954) 938-7780

                     [Buyer Signature Page to Spherion RSA]

<Page>

                                    EXHIBIT I

                                   DEFINITIONS

         As used in this Agreement, including the Exhibits and Schedules,
capitalized terms have the meanings set forth in this Exhibit I (such meanings
to be equally applicable to the singular and plural forms thereof). IF A
CAPITALIZED TERM IS USED IN THIS AGREEMENT, INCLUDING ANY EXHIBIT OR SCHEDULE,
AND IS NOT OTHERWISE DEFINED THEREIN OR IN THIS EXHIBIT I, SUCH TERM SHALL HAVE
THE MEANING ASSIGNED THERETO IN EXHIBIT I TO THE CREDIT AND SECURITY AGREEMENT.

         "ADMINISTRATIVE AGENT" has the meaning set forth in the Preliminary
Statements to this Agreement.

         "AGREEMENT" has the meaning set forth in the preamble to this
Agreement.

         "APPLICABLE CLOSING DATE" means (a) with respect to each Existing
Originator, the Initial Sale Closing Date, and (b) with respect to each New
Originator, its New Originator Closing Date.

         "APPLICABLE CUT-OFF DATE" means (a) with respect to each Existing
Originator, the Initial Cut-Off Date, (b) with respect to each New Originator,
its New Originator Cut-Off Date, and (c) with respect to all Originators, each
Cut-Off Date after the applicable date in the preceding clause (a) or clause
(b).

         "BLUE RIDGE" has the meaning set forth in the Preliminary Statements to
this Agreement.

         "BUYER" has the meaning set forth in the preamble to this Agreement.

         "CALCULATION PERIOD" means each accounting month or portion thereof
which elapses during the term of this Agreement. The first Calculation Period
shall commence on the date of the Purchases hereunder and the final Calculation
Period shall terminate on the Termination Date.

         "CHANGE OF CONTROL" means the acquisition by any Person, or two or more
Persons acting in concert, of beneficial ownership (within the meaning of Rule
13d-3 of the Securities and Exchange Commission under the Securities Exchange
Act of 1934) of 20% or more of the outstanding voting stock of Parent or, except
in connection Permitted Restructuring, any other Originator.

         "CREDIT AND COLLECTION POLICY" means the Originators' credit and
collection policies and practices relating to Contracts and Receivables existing
on the date hereof and summarized in EXHIBIT V, as modified from time to time in
accordance with this Agreement.

         "CREDIT AND SECURITY AGREEMENT" has the meaning set forth in the
Preliminary Statements to this Agreement.

                                      I-1

<Page>

         "DEFAULT FEE" means a PER ANNUM rate of interest equal to the sum of
(i) the Prime Rate, PLUS (ii) 2% per annum.

         "DISCOUNT FACTOR" means a percentage calculated to provide Buyer with a
reasonable return on its investment in the Receivables Buyer Purchases hereunder
after taking account of (a) the time value of money based upon the anticipated
dates of collection of such Receivables and the cost to Buyer of financing its
investment in such Receivables during such period and (b) the risk of nonpayment
by the respective Obligors. Each Originator and Buyer may agree from time to
time to change the Discount Factor based on changes in one or more of the items
affecting the calculation thereof, PROVIDED THAT any change to the Discount
Factor shall take effect as of the commencement of a Calculation Period, shall
apply only prospectively and shall not affect the Purchase Price payment made
prior to the Calculation Period during which such Originator and Buyer agree to
make such change. As of the Initial Sale Closing Date, the Discount Factor in
respect of Eligible Receivables is 3% and the Discount Factor in respect of all
other Receivables is 3%.

         "EQUITY INTERESTS" means, with respect to any Person, any and all
shares, interests, participations or other equivalents, including membership
interests (however designated, whether voting or non-voting), of capital of such
Person, including, if such Person is a partnership, partnership interests
(whether general or limited) and any other interest or participation that
confers on a Person the right to receive a share of the profits and losses of,
or distributions of assets of, such partnership, whether outstanding on the date
hereof or issued after the date of this Agreement.

         "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and any rule or regulation issued thereunder.

         "ERISA AFFILIATE" means any trade or business (whether or not
incorporated) under common control with any Originator within the meaning of
Section 414(b) or (c) of the Tax Code (and Sections 414(m) and (o) of the Tax
Code for purposes of provisions relating to Section 412 of the Tax Code).

         "ERISA EVENT" means (a) a Purchase Reportable Event with respect to a
Pension Plan; (b) a withdrawal by any Originator or any ERISA Affiliate from a
Pension Plan subject to Section 4063 of ERISA during a plan year in which it was
a substantial employer (as defined in Section 4001 (a) (2) of ERISA) or a
cessation of operations which is treated as such a withdrawal under Section
4062(e) of ERISA; (c) a complete or partial withdrawal by any Originator or any
ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer
Plan is in reorganization; (d) the filing of a notice of intent to terminate,
the treatment of a Plan amendment as a termination under Section 4041 or 4041A
of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension
Plan or Multiemployer Plan; (e) an event or condition which might reasonably be
expected to constitute grounds under Section 4042 of ERISA for the termination
of, or the appointment of a trustee to administer, any Pension Plan or
Multiemployer Plan; or (f) the imposition of any liability under Tide IV of
ERISA, other than PBGC premiums due but not delinquent under Section 4007 of
ERISA, upon any Originator or any ERISA Affiliate.

                                      I-2

<Page>

         "EXISTING ORIGINATOR" has the meaning set forth in the preamble to this
Agreement.

         "INDEMNIFIED PARTY" has the meaning set forth in SECTION 7.1.

         "INITIAL CUTOFF DATE" has the meaning set forth in SECTION 1.1.

         "INITIAL SALE CLOSING DATE" means the date on which the Originators
have delivered a notice to the Buyer to consummate the initial Purchase
hereunder.

         "JOINDER AGREEMENT" has the meaning set forth in the preamble to this
Agreement.

         "MATERIAL ADVERSE EFFECT" means a material adverse effect on (a) the
financial condition or operations of the Originators and their Subsidiaries,
considered as a whole, (b) the ability of any Originator to perform its
obligations under this Agreement or any other Transaction Document to which it
is a party, (c) the legality, validity or enforceability of this Agreement or
any other Transaction Document, (d) any Originator's, Buyer's, the
Administrative Agent's or any Lender's interest in the Receivables generally or
in any significant portion of the Receivables, the Related Security or
Collections with respect thereto, or (e) the collectability of the Receivables
generally or of any material portion of the Receivables.

         "MATERIAL SUBSIDIARY" means with respect to any Person (a) a Subsidiary
of such Person formed under the laws of the United States and a state or
territory within the United States and (b) a Subsidiary of such Person formed
under the laws of any jurisdiction other than the Untied States of a state or
territory within the United States to the extent such Subsidiary would be deemed
a "significant subsidiary" pursuant to the definition thereof in Rule 1-02 of
the Regulation S-X promulgated under the Securities Act of 1933, as amended.

         "MOODY'S" means Moody's Investors Service, Inc.

         "MULTIEMPLOYER PLAN" means a "multiemployer plan," within the meaning
of Section 4001 (a) (3) of ERISA, to which any Originator or any ERISA Affiliate
makes, is making, or is obligated to make contributions or, during the preceding
three calendar years, has made, or been obligated to make, contributions.

         "NET WORTH" means as of the last Business Day of each Calculation
Period preceding any date of determination, the excess, if any, of (a) the
aggregate Outstanding Balance of the Receivables at such time, OVER (b) the sum
of (i) the Aggregate Invested Amount outstanding at such time, PLUS (ii) the
aggregate outstanding principal balance of the Subordinated Loans (including any
Subordinated Loan proposed to be made on the date of determination).

         "NEW ORIGINATOR" means any direct or indirect wholly owned Subsidiary
of Parent that hereafter becomes a Originator under this Agreement by executing
a Joinder Agreement and complying with the provisions of ARTICLE V.

                                      I-3

<Page>

         "NEW ORIGINATOR CLOSING DATE" means, as to any New Originator, the
Business Day on which each of the conditions set forth in ARTICLE V has been
satisfied.

         "NEW ORIGINATOR CUT-OFF DATE" means, with respect to each New
Originator, the Cut-Off Date immediately preceding its New Originator Closing
Date.

         "ORGANIZATIONAL DOCUMENTS" means, for any Person, the documents for its
formation and organization, which, for example, (a) for a corporation are its
corporate charter and bylaws, (b) for a partnership are its certificate of
partnership (if applicable) and partnership agreement, (c) for a limited
liability company are its certificate of formation or organization and its
operating agreement, regulations or the like and (d) for a trust is the trust
agreement, declaration of trust, indenture or bylaws under which it is created.

         "ORIGINAL BALANCE" means, with respect to any Receivable coming into
existence after the Initial Cutoff Date, the Outstanding Balance of such
Receivable on the date it was created.

         "ORIGINAL ORIGINATOR" has the meaning set forth in the preamble to this
Agreement.

         "ORIGINATOR" has the meaning set forth in the preamble to this
Agreement.

         "PARENT" has the meaning set forth in the preamble to this Agreement.

         "PBGC" means the Pension Benefit Guaranty Corporation, or any successor
thereto.

         "PENSION PLAN" means a pension plan (as defined in Section 3(2) of
ERISA) subject to Title IV of ERISA which any Originator sponsors or maintains,
or to which it makes, is making, or is obligated to make contributions, or in
the case of a multiple employer plan (as described in Section 4064(a) of ERISA)
has made contributions at any time during the immediately preceding five plan
years.

         "PLAN" means an employee benefit plan (as defined in Section 3(3) of
ERISA) which any Originator or any of its ERISA Affiliates sponsors or maintains
or to which any Originator or any of its ERISA Affiliates makes, is making, or
is obligated to make contributions and includes any Pension Plan, other than a
Plan maintained outside the United States primarily for the benefit of Persons
who are not U.S. residents.

         "PURCHASE" means the purchase by Buyer from an Originator pursuant to
SECTION 1.1(a) of the Receivables originated by such Originator and the Related
Security and Collections with respect thereto, together with all related rights
in connection therewith.

         "PURCHASE PRICE" means, with respect to the Purchase from each
Originator, the aggregate price to be paid by Buyer to such Originator for such
Purchase in accordance with SECTION 1.2 for the Receivables originated by such
Originator and the Related Security and Collections with respect thereto being
sold or otherwise transferred to Buyer, which price shall equal on any date (a)
the product of (i) the Outstanding Balance of such Receivables on such

                                      I-4
<Page>

date, MULTIPLIED BY (ii) one minus the Discount Factor in effect on such date,
minus (ii) any Purchase Price Credits to be credited against the Purchase Price
otherwise payable in accordance with SECTION 1.3.

         "PURCHASE PRICE CREDIT" has the meaning set forth in SECTION 1.3.

         "PURCHASE REPORT" has the meaning set forth in SECTION 1.1(b).

         "RECEIVABLE" means all indebtedness and other obligations owed to an
Originator (at the times it arises, and before giving effect to any transfer or
conveyance under this Agreement) or to Buyer (after giving effect to the
transfers under this Agreement) (including any indebtedness, obligation or
interest constituting an account, chattel paper, instrument or general
intangible) arising in connection with the sale of goods or the rendering of
services by such Originator and further includes the obligation to pay any
Finance Charges with respect thereto. Indebtedness and other rights and
obligations arising from any one transaction, including indebtedness and other
rights and obligations represented by an individual invoice, shall constitute a
Receivable separate from a Receivable consisting of the indebtedness and other
rights and obligations arising from any other transaction; PROVIDED, FURTHER,
that any indebtedness, rights or obligations referred to in the immediately
preceding sentence shall be a Receivable regardless or whether the account
debtor or such Originator treats such indebtedness, rights or obligations as a
separate payment obligation.

         "RELATED SECURITY" means, with respect to any Receivable:

                (i) all of the applicable Originator's interest in the
      inventory and goods (including returned or repossessed inventory or
      goods), if any, the sale, financing or lease of which by such
      Originator gave rise to such Receivable, and all insurance contracts
      with respect thereto,

                (ii) all other security interests or liens and property
      subject thereto from time to time, if any, purporting to secure payment
      of such Receivable, whether pursuant to the Contract related to such
      Receivable or otherwise, together with all financing statements and
      security agreements describing any collateral securing such Receivable,

                (iii) all guaranties, letters of credit, insurance and other
      agreements or arrangements of whatever character from time to time
      supporting or securing payment of such Receivable whether pursuant to
      the Contract related to such Receivable or otherwise,

                (iv) all service contracts and other contracts and agreements
      associated with such Receivable,

                (v) all Records related to such Receivable,

                (vi) all of the applicable Originator's right, title and
      interest in each Lock-Box and each Collection Account, and

                                      I-5

<Page>

                (vii) all proceeds of any of the foregoing.

         "REPORTABLE EVENT" means any of the events set forth in Section 4043(c)
of ERISA or the regulations thereunder, other than any such event for which the
30-day notice requirement under ERISA has been waived in regulations issued by
the PBGC.

         "REQUIRED CAPITAL AMOUNT" means, as of any date of determination, an
amount equal to the greater of (a) 3% of the Aggregate Commitment under the
Credit and Security Agreement, and (b) the product of (i) 1.5 times the product
of the Default Ratio times the Default Horizon Ratio, each as determined from
the most recent Monthly Report received from the Servicer under the Credit and
Security Agreement, and (ii) the Outstanding Balance of all Receivables as of
such date, as determined from the most recent Monthly Report received from the
Servicer under the Credit and Security Agreement.

         "S&P" means Standard and Poor's Ratings Services, a division of The
McGraw Hill Companies, Inc.

         "SETTLEMENT DATE" means, with respect to each Calculation Period, the
date that is the 17th Business Day of the month following such Calculation
Period.

         "SUBORDINATED LOAN" has the meaning set forth in SECTION 1.2(a).

         "SUBORDINATED NOTE" means a promissory note in substantially the form
of EXHIBIT VI as more fully described in SECTION 1.2 as the same may be amended,
restated, supplemented or otherwise modified from time to time.

         "TAX CODE" means the Internal Revenue Code of 1986, as the same may be
amended from time to time.

         "TERMINATION DATE" means, as to each Originator, the earliest to occur
of (a) the Facility Termination Date, (b) the Business Day immediately prior to
the occurrence of a Termination Event set forth in SECTION 6.1(e) with respect
to such Originator or Performance Guarantor, (c) the Business Day specified in a
notice from Buyer to such Originators following the occurrence of any other
Termination Event with respect to such Originator, and (d) the date which is 10
Business Days after Buyer's receipt of notice from any such Originator that it
wishes to terminate the facility evidenced by this Agreement with respect to
such Originator.

         "TERMINATION EVENT" has the meaning set forth in SECTION 6.1.

         "TRANSACTIONS" means the transactions contemplated by this Agreement.

         "TRANSACTION DOCUMENTS" means, collectively, this Agreement, each
Collection Account Agreement, each Subordinated Note, each Joinder Agreement,
and all other instruments, documents and agreements executed and delivered
pursuant hereto.

         "UNMATURED TERMINATION EVENT" means an event which, with the passage of
time or the giving of notice, or both, would constitute a Termination Event
hereunder.

                                      I-6<Page>

                                                                   Exhibit 10.24

               AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT

                           DATED AS OF AUGUST 19, 2002

                                  BY AND AMONG

                     SPHERION RECEIVABLES LLC, AS BORROWER,

                       SPHERION CORPORATION, AS SERVICER,

                      BLUE RIDGE ASSET FUNDING CORPORATION,

               THE LIQUIDITY BANKS FROM TIME TO TIME PARTY HERETO

                                       AND

          WACHOVIA BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT
<Page>

                                TABLE OF CONTENTS
<Table>
<Caption>
                                                                              Page
                                                                              ----
<S>               <C>                                                         <C>
ARTICLE I THE ADVANCES...........................................................1

Section 1.1       Credit Facility................................................1
Section 1.2       Increases......................................................2
Section 1.3       Decreases......................................................3
Section 1.4       Deemed Collections; Borrowing Limit............................3
Section 1.5       Payment Requirements...........................................4
Section 1.6       Ratable Loans; Funding Mechanics; Liquidity Fundings...........4
Section 1.7       Requests for Increases in Aggregate Commitment.................5
Section 1.8       Extension of the Scheduled Termination Date....................5

ARTICLE II PAYMENTS AND COLLECTIONS..............................................5

Section 2.1       Payments.......................................................5
Section 2.2       Collections Prior to Amortization..............................6
Section 2.3       Collections Following Amortization.............................6
Section 2.4       Payment Recission..............................................7

ARTICLE III BLUE RIDGE FUNDING...................................................7

Section 3.1       CP Costs.......................................................7
Section 3.2       Calculation of CP Costs........................................7
Section 3.3       CP Costs Payments..............................................7
Section 3.4       Default Rate...................................................7

ARTICLE IV LIQUIDITY BANK FUNDING................................................8

Section 4.1       Liquidity Bank Funding.........................................8
Section 4.2       Interest Payments..............................................8
Section 4.3       Selection and Continuation of Interest Periods.................8
Section 4.4       Liquidity Bank Interest Rates..................................8
Section 4.5       Suspension of the LIBO Rate....................................9
Section 4.6       Default Rate...................................................9

ARTICLE V REPRESENTATIONS AND WARRANTIES.........................................9

Section 5.1       Representations and Warranties of the Loan Parties.............9
Section 5.2       Liquidity Bank Representations and Warranties.................13

ARTICLE VI CONDITIONS OF ADVANCES...............................................14

Section 6.1       Conditions Precedent to Initial Advance.......................14
Section 6.2       Conditions Precedent to All Advances..........................14

ARTICLE VII COVENANTS...........................................................15

Section 7.1       Affirmative Covenants of the Loan Parties.....................15
Section 7.2       Negative Covenants of the Loan Parties........................22

ARTICLE VIII ADMINISTRATION AND COLLECTION......................................23

Section 8.1       Designation of Servicer.......................................23
Section 8.2       Duties of Servicer............................................24
Section 8.3       Collection Notices............................................25
Section 8.4       Responsibilities of Borrower..................................26
Section 8.5       Monthly Reports...............................................26
Section 8.6       Servicing Fee.................................................26
<Page>
ARTICLE IX AMORTIZATION EVENTS..................................................26

Section 9.1       Amortization Events...........................................26
Section 9.2       Remedies......................................................29

ARTICLE X INDEMNIFICATION.......................................................29

Section 10.1      Indemnities by the Loan Parties...............................29
Section 10.2      Increased Cost and Reduced Return.............................32
Section 10.3      Funding Losses................................................33
Section 10.4      Other Costs and Expenses......................................34
Section 10.5      Allocations...................................................34

ARTICLE XI THE AGENT............................................................34

Section 11.1      Authorization and Action......................................34
Section 11.2      Delegation of Duties..........................................35
Section 11.3      Exculpatory Provisions........................................35
Section 11.4      Reliance by Administrative Agent..............................35
Section 11.5      Non-Reliance on Administrative Agent and Other Lenders........36
Section 11.6      Reimbursement and Indemnification.............................36
Section 11.7      Administrative Agent in its Individual Capacity...............36
Section 11.8      Successor Administrative Agent................................36

ARTICLE XII ASSIGNMENTS; PARTICIPATIONS.........................................37

Section 12.1      Assignments...................................................37
Section 12.2      Participations................................................38

ARTICLE XIII SECURITY INTEREST..................................................38

Section 13.1      Grant of Security Interest....................................38
Section 13.2      Termination after Final Payout Date...........................38

ARTICLE XIV MISCELLANEOUS.......................................................39

Section 14.1      Waivers and Amendments........................................39
Section 14.2      Notices.......................................................40
Section 14.3      Ratable Payments..............................................40
Section 14.4      Protection of Administrative Agent's Security Interest........40
Section 14.5      Confidentiality...............................................42
Section 14.6      Bankruptcy Petition...........................................42
Section 14.7      Limitation of Liability.......................................42
Section 14.8      CHOICE OF LAW.................................................42
Section 14.9      CONSENT TO JURISDICTION.......................................43
Section 14.10     WAIVER OF JURY TRIAL..........................................43
Section 14.11     Integration; Binding Effect; Survival of Terms................43
Section 14.12     Counterparts; Severability....................................44
Section 14.13     Wachovia Roles................................................44
Section 14.14     Construction of this Agreement and Certain Terms and Phrases..44
</Table>
<Page>

                             EXHIBITS AND SCHEDULES
<Table>
<S>                   <C>
Exhibit I             Definitions

Exhibit II            Form of Borrowing Notice

Exhibit III           Jurisdiction of Organization and Chief Executive Office of the Loan Parties;
                      Locations of Records; Organizational Identification Number(s)

Exhibit IV            Names of Collection Banks; Collection Accounts

Exhibit V             Form of Compliance Certificate

Exhibit VI            Form of Collection Account Agreement

Exhibit VII           Form of Assignment Agreement

Exhibit VIII          Credit and Collection Policy

Exhibit IX            Form of Monthly Report

Exhibit X             Form of Contract(s)

Exhibit XI            Form of Amended and Restated Performance Undertaking

Exhibit XII           Form of Interim Report

Schedule A            Commitments

Schedule B            Closing Documents

Schedule I            Monthly Accounting Periods
</Table>

<Page>

                         AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT

     THIS AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT, dated as of August
19, 2002 is entered into by and among:

          (a) Spherion Receivables LLC, a Delaware limited liability company,
     formerly known as Spherion Receivables Corp. ("BORROWER"),

          (b) Spherion Corporation, a Delaware corporation ("SPHERION"), as
     initial Servicer (the Servicer together with Borrower, the "LOAN PARTIES"
     and each, a "LOAN PARTY"),

          (c) The entities listed on Schedule A (together with any of their
     respective successors and assigns hereunder, the "LIQUIDITY BANKS"),

          (d) Blue Ridge Asset Funding Corporation, a Delaware corporation
     ("BLUE RIDGE"), and

          (e) Wachovia Bank, National Association, as administrative agent for
     the Lenders hereunder or any successor agent hereunder (together with its
     successors and assigns hereunder, the "ADMINISTRATIVE AGENT")

UNLESS DEFINED ELSEWHERE HEREIN, CAPITALIZED TERMS USED IN THIS AGREEMENT SHALL
HAVE THE MEANINGS ASSIGNED TO SUCH TERMS IN EXHIBIT I.

                             PRELIMINARY STATEMENTS

          Borrower desires to borrow from the Lenders from time to time.

          Blue Ridge may, in its absolute and sole discretion, make Advances to
     the Borrower from time to time.

          If Blue Ridge declines to make any Advance, the Liquidity Banks shall,
     at the request of Borrower, make Advances from time to time.

          Wachovia Bank, National Association has been requested and is willing
     to act as Administrative Agent on behalf of Blue Ridge and the Liquidity
     Banks in accordance with the terms hereof.

                                   ARTICLE I

                                  THE ADVANCES

     Section 1.1 CREDIT FACILITY.

          (a) Upon the terms and subject to the conditions hereof, from time to
     time prior to the Facility Termination Date:
<Page>

               (i) Borrower may, at its option, request Advances from the
          Lenders in an aggregate principal amount at any one time outstanding
          not to exceed the lesser of the Aggregate Commitment and the Borrowing
          Base (such lesser amount, the "BORROWING LIMIT"); and

               (ii) Blue Ridge may, at its option, make the requested Advance,
          or if Blue Ridge shall decline to make any Advance, except as
          otherwise provided in Section 1.2, the Liquidity Banks severally agree
          to make Loans in an aggregate principal amount equal to the requested
          Advance.

     Each of the Advances, and all other Obligations, shall be secured by the
Collateral as provided in Article XIII. It is the intent of Blue Ridge to fund
all Advances by the issuance of Commercial Paper.

          (b) Borrower may, upon at least five Business Days' notice to the
     Administrative Agent, terminate in whole or reduce in part, ratably among
     the Liquidity Banks, the unused portion of the Aggregate Commitment;
     PROVIDED THAT each partial reduction of the Aggregate Commitment shall be
     in an amount equal to $10,000,000 (or a larger integral multiple of
     $1,000,000 if in excess thereof) and shall reduce the Commitments of the
     Liquidity Banks ratably in accordance with their respective Pro Rata
     Shares.

     Section 1.2 INCREASES. Borrower shall provide the Administrative Agent with
at least two Business Days' prior notice in a form set forth as Exhibit II of
each Advance (each, a "BORROWING NOTICE"). Each Borrowing Notice shall be
subject to Section 6.1 and Section 6.2 hereof and, except as set forth below,
shall be irrevocable and shall specify the requested increase in Aggregate
Principal (which shall not be less than $1,000,000 or a larger integral multiple
of $100,000) and the Borrowing Date (which, in the case of any Advance after the
initial Advance hereunder, shall be no more frequently than weekly prior to any
request by the Administrative Agent for the Servicer to deliver an Interim
Report pursuant to Section 8.5, and, after such request, shall only be on a
Settlement Date that corresponds with the 15th Business Day of each monthly
accounting period) and, in the case of an Advance to be funded by the Liquidity
Banks, the requested Interest Rate and Interest Period. Following receipt of a
Borrowing Notice, the Administrative Agent will determine whether Blue Ridge
agrees to make the requested Advance. If Blue Ridge declines to make a proposed
Advance, Borrower may cancel the Borrowing Notice or, in the absence of such a
cancellation, the Advance will be made by the Liquidity Banks. On the date of
each Advance, upon satisfaction of the applicable conditions precedent set forth
in Article VI, Blue Ridge or the Liquidity Banks, as applicable, shall deposit
to the Facility Account, in immediately available funds, no later than 2:00 p.m.
(New York time), an amount equal to (a) in the case of Blue Ridge, the principal
amount of the requested Advance or (b) in the case of a Liquidity Bank, such
Liquidity Bank's Pro Rata Share of the principal amount of the requested
Advance.

                                       2
<Page>

     Section 1.3 DECREASES. Except as provided in Section 1.4, Borrower shall
provide the Administrative Agent with prior notice in conformity with the
Required Notice Period (a "REDUCTION NOTICE") of any proposed reduction of
Aggregate Principal. Such Reduction Notice shall designate (a) the date (the
"PROPOSED REDUCTION DATE") upon which any such reduction of Aggregate Principal
shall occur (which date shall give effect to the applicable Required Notice
Period), and (b) the amount of Aggregate Principal to be reduced which shall be
applied ratably to the Loans of Blue Ridge and the Liquidity Banks in accordance
with the amount of principal (if any) owing to Blue Ridge, on the one hand, and
the amount of principal (if any) owing to the Liquidity Banks (ratably, based on
their respective Pro Rata Shares), on the other hand (the "AGGREGATE
REDUCTION"). Only one Reduction Notice shall be outstanding at any time.

     Section 1.4 DEEMED COLLECTIONS; BORROWING LIMIT.

     (a) If on any day:

               (i) the Outstanding Balance of any Receivable is reduced as a
          result of any defective or rejected goods or services, any cash
          discount or any other adjustment by any Originator or any Affiliate
          thereof, or as a result of any tariff or other governmental or
          regulatory action, or

               (ii) the Outstanding Balance of any Receivable is reduced or
          canceled as a result of a setoff in respect of any claim by the
          Obligor thereof (whether such claim arises out of the same or a
          related or an unrelated transaction), or

               (iii) the Outstanding Balance of any Receivable is reduced on
          account of the obligation of any Originator or any Affiliate thereof
          to pay to the related Obligor any rebate or refund, or

               (iv) the Outstanding Balance of any Receivable is less than the
          amount included in calculating the Net Pool Balance for purposes of
          any Monthly Report (for any reason other than such Receivable becoming
          a Defaulted Receivable), or

               (v) any of the representations or warranties of the Borrower set
          forth in Section 5.1(i), (j), (r), (s), (t) or (u) were not true when
          made with respect to any Receivable,

then, on such day, the Borrower shall be deemed to have received a Collection of
such Receivable (A) in the case of clauses (i)-(iv) above, in the amount of such
reduction or cancellation or the difference between the actual Outstanding
Balance and the amount included in calculating such Net Pool Balance, as
applicable; and (B) in the case of clause (v) above, in the amount of the
Outstanding Balance of such Receivable and, effective as of the date on which
the next succeeding Monthly Report is required to be delivered, the Borrowing
Base shall be reduced by the amount of such Deemed Collection.

          (b) Borrower shall ensure that the Aggregate Principal at no time
     exceeds the Borrowing Limit. If at any time the Aggregate Principal exceeds
     the Borrowing Limit, Borrower shall pay to the Administrative Agent not
     later than the next succeeding Settlement Date an amount to be applied to
     reduce the Aggregate Principal (as allocated

                                       3
<Page>

     by the Administrative Agent), such that after giving effect to such payment
     the Aggregate Principal is less than or equal to the Borrowing Limit.

     Section 1.5 PAYMENT REQUIREMENTS. All amounts to be paid or deposited by
any Loan Party pursuant to this Agreement shall be paid or deposited in
accordance with the terms hereof no later than 12:00 noon (New York time) on the
day when due in immediately available funds, and if not received before 12:00
noon (New York time) shall be deemed to be received on the next succeeding
Business Day. If such amounts are payable to a Lender they shall be paid to the
Administrative Agent's Account, for the account of such Lender, until otherwise
notified by the Administrative Agent. All computations of CP Costs, Interest,
PER ANNUM fees calculated as part of any CP Costs, PER ANNUM fees hereunder and
PER ANNUM fees under the Fee Letter shall be made on the basis of a year of 360
days for the actual number of days elapsed. If any amount hereunder shall be
payable on a day which is not a Business Day, such amount shall be payable on
the next succeeding Business Day.

     Section 1.6 RATABLE LOANS; FUNDING MECHANICS; LIQUIDITY FUNDINGS.

          (a) Each Advance hereunder shall consist of one or more Loans made by
     Blue Ridge or the Liquidity Banks.

          (b) Each Lender funding any Loan shall wire transfer the principal
     amount of its Loan to the Administrative Agent in immediately available
     funds not later than 12:00 noon (New York City time) on the applicable
     Borrowing Date and, subject to its receipt of such Loan proceeds, the
     Administrative Agent shall wire transfer such funds to the account
     specified by the Borrower in its Borrowing Request not later than 2:00 p.m.
     (New York City time) on such Borrowing Date.

          (c) While it is the intent of Blue Ridge to fund each requested
     Advance through the issuance of its Commercial Paper, the parties
     acknowledge that if Blue Ridge is unable, or determines that it is
     undesirable, to issue Commercial Paper to fund all or any portion of its
     Loans, or is unable to repay such Commercial Paper upon the maturity
     thereof, Blue Ridge may put all or any portion of its Loans to the
     Liquidity Banks at any time pursuant to the Liquidity Agreement to finance
     or refinance the necessary portion of its Loans through a Liquidity Funding
     to the extent available. The Liquidity Fundings may be Alternate Base Rate
     Loans or LIBO Rate Loans, or a combination thereof, selected by the
     Borrower in accordance with Article IV. Regardless of whether a Liquidity
     Funding constitutes the direct funding of a Loan, an assignment of a Loan
     made by Blue Ridge or the sale of one or more participations in a Loan made
     by Blue Ridge, each Liquidity Bank participating in a Liquidity Funding
     shall have the rights of a "LENDER" hereunder with the same force and
     effect as if it had directly made a Loan to the Borrower in the amount of
     its Liquidity Funding.

          (d) Nothing herein shall be deemed to commit Blue Ridge to make Loans.

     Section 1.7 REQUESTS FOR INCREASES IN AGGREGATE COMMITMENT. The Borrower
may from time to time request increases in the Aggregate Commitment in a minimum
amount of $10,000,000 (or a larger integral multiple of $1,000,000), upon at
least 30 days' prior written

                                       4
<Page>

notice to the Administrative Agent, which notice shall specify the amount of and
proposed effective date for any such requested increase (each, a "COMMITMENT
INCREASE REQUEST"). If the Administrative Agent agrees to the requested increase
by notifying the Borrower of the Administrative Agent's agreement, such increase
shall be made to the Commitments of the Blue Ridge Liquidity Banks for all
purposes hereof. If the Administrative Agent does not agree to such increase,
the amount of the Aggregate Commitment shall remain unchanged.

     Section 1.8 EXTENSION OF THE SCHEDULED TERMINATION DATE. Provided that no
Unmatured Amortization Event or Amortization Event exists and is continuing, the
Borrower may request an extension of the Scheduled Termination Date by
submitting a request for an extension (each, an "EXTENSION REQUEST") to the
Administrative Agent no more than [90] days prior to the Scheduled Termination
Date then in effect. The Extension Request must specify the new Scheduled
Termination Date requested by the Borrower and the date (which must be at least
thirty (30) days after the Extension Request is delivered to the Administrative
Agent) as of which the Administrative Agent, the Lenders and the Liquidity Banks
must respond to the Extension Request (the "RESPONSE DATE"). The new Scheduled
Termination Date shall be no more than 364 days after the Scheduled Termination
Date in effect at the time the Extension Request is received, including the
Scheduled Termination Date as one of the days in the calculation of the days
elapsed. Within three Business Days after receipt of an Extension Request, the
Administrative Agent shall notify Blue Ridge and the Liquidity Banks of the
contents thereof and shall request each such Person to approve the Extension
Request. Each Lender and Liquidity Bank approving the Extension Request shall
deliver its written approval to the Administrative Agent no later than the
Response Date, whereupon the Administrative Agent shall notify the Borrower
within one Business Day thereafter as to whether all of the Lenders have
approved the Extension Request. If all of the Lenders have approved the
Extension Request, the Scheduled Termination Date specified in the Extension
Request shall become effective on the existing Facility Termination Date, and
the Administrative Agent shall promptly notify the Borrower and the Lenders of
the new Facility Termination Date. If all of the Lenders do not unanimously
agree to an Extension Request, the Scheduled Termination Date shall remain
unchanged.

                                   ARTICLE II

                            PAYMENTS AND COLLECTIONS

     Section 2.1 PAYMENTS. Borrower hereby promises to pay:

          (a) the Aggregate Principal on and after the Facility Termination Date
     as and when Collections are received;

          (b) the fees set forth in the Fee Letter on the dates specified
     therein;

          (c) all accrued and unpaid Interest on the Alternate Base Rate Loans
     on each Settlement Date applicable thereto;

          (d) all accrued and unpaid Interest on the LIBO Rate Loans on the last
     day of each Interest Period applicable thereto;

                                       5
<Page>

          (e) all accrued and unpaid CP Costs on the CP Rate Loans on each
     Settlement Date; and

          (f) all Broken Funding Costs and Indemnified Amounts upon demand.

     Section 2.2 COLLECTIONS PRIOR TO AMORTIZATION. On each Settlement Date
prior to the Amortization Date, the Servicer shall deposit to the Administrative
Agent's Account, for distribution to the Lenders, a portion of the Collections
received by the Servicer during the preceding Settlement Period (after deduction
of its Servicing Fee) equal to the sum of the following amounts for application
to the Obligations in the order specified:

          FIRST, ratably to the payment of all accrued and unpaid CP Costs,
     Interest and Broken Funding Costs (if any) that are then due and owing,

          SECOND, ratably to the payment of all accrued and unpaid fees under
     the Fee Letter (if any) that are then due and owing,

          THIRD, if required under Section 1.3 or 1.4, to the ratable reduction
     of Aggregate Principal,

          FOURTH, for the ratable payment of all other unpaid Obligations, if
     any, that are then due and owing, and

          FIFTH, the balance, if any, to Borrower or otherwise in accordance
     with Borrower's instructions.

Collections applied to the payment of Obligations shall be distributed in
accordance with the aforementioned provisions, and, giving effect to each of the
priorities set forth above in this Section 2.2, shall be shared ratably (within
each priority) among the Administrative Agent and the Lenders in accordance with
the amount of such Obligations owing to each of them in respect of each such
priority.

     Section 2.3 COLLECTIONS FOLLOWING AMORTIZATION. On the Amortization Date
and on each day thereafter, the Servicer shall set aside and hold in trust, for
the Secured Parties, all Collections received on such day. On and after the
Amortization Date, the Servicer shall, on each Settlement Date and on each other
Business Day specified by the Administrative Agent (after deduction of any
accrued and unpaid Servicing Fee as of such date): (i) remit to the
Administrative Agent's Account the amounts set aside pursuant to the preceding
two sentences, and (ii) apply such amounts to reduce the Obligations as follows:

          FIRST, to the reimbursement of the Administrative Agent's costs of
     collection and enforcement of this Agreement,

          SECOND, ratably to the payment of all accrued and unpaid CP Costs,
     Interest and Broken Funding Costs,

          THIRD, ratably to the payment of all accrued and unpaid fees under the
     Fee Letter,

                                       6
<Page>

          FOURTH, to the ratable reduction of Aggregate Principal,

          FIFTH, for the ratable payment of all other unpaid Obligations, and

          SIXTH, after the Obligations have been indefeasibly reduced to zero,
     to Borrower.

Collections applied to the payment of Obligations shall be distributed in
accordance with the aforementioned provisions, and, giving effect to each of the
priorities set forth above in this Section 2.3(b), shall be shared ratably
(within each priority) among the Administrative Agent and the Lenders in
accordance with the amount of such Obligations owing to each of them in respect
of each such priority.

     Section 2.4 PAYMENT RECISSION. No payment of any of the Obligations shall
be considered paid or applied hereunder to the extent that, at any time, all or
any portion of such payment or application is rescinded by application of law or
judicial authority, or must otherwise be returned or refunded for any reason.
Borrower shall remain obligated for the amount of any payment or application so
rescinded, returned or refunded, and shall promptly pay to the Administrative
Agent (for application to the Person or Persons who suffered such recission,
return or refund) the full amount thereof, plus Interest on such amount at the
Default Rate from the date of any such recission, return or refunding.

                                  ARTICLE III

                               BLUE RIDGE FUNDING

     Section 3.1 CP COSTS. Borrower shall pay CP Costs with respect to the
principal balance of Blue Ridge's Loans from time to time outstanding. Each Loan
of Blue Ridge that is funded substantially with Pooled Commercial Paper will
accrue CP Costs each day on a pro rata basis, based upon the percentage share
that the principal in respect of such Loan represents in relation to all assets
held by Blue Ridge and funded substantially with related Pooled Commercial
Paper.

     Section 3.2 CALCULATION OF CP COSTS. Not later than the 3rd Business Day
immediately preceding each Monthly Reporting Date, Blue Ridge shall calculate
the aggregate amount of CP Costs applicable to its CP Rate Loans for the
Calculation Period then most recently ended and shall notify Borrower of such
aggregate amount.

     Section 3.3 CP COSTS PAYMENTS. On each Settlement Date, Borrower shall pay
to the Administrative Agent (for the benefit of Blue Ridge) an aggregate amount
equal to all accrued and unpaid CP Costs in respect of the principal associated
with all CP Rate Loans for the Calculation Period then most recently ended in
accordance with Article II.

     Section 3.4 DEFAULT RATE. From and after the occurrence of an Amortization
Event, all Loans of Blue Ridge shall accrue Interest at the Default Rate and
shall cease to be CP Rate Loans.

                                       7
<Page>

                                   ARTICLE IV

                             LIQUIDITY BANK FUNDING

     Section 4.1 LIQUIDITY BANK FUNDING. Prior to the occurrence of an
Amortization Event, the outstanding principal balance of each Liquidity Funding
shall accrue interest for each day during its Interest Period at either the LIBO
Rate or the Alternate Base Rate in accordance herewith. Until Borrower gives
notice to the Administrative Agent of another Interest Rate in accordance with
Section 4.4, the initial Interest Rate for any Loan transferred to the Liquidity
Banks by Blue Ridge pursuant to the Liquidity Agreement shall be the Alternate
Base Rate (unless the Default Rate is then applicable). If the Liquidity Banks
acquire by assignment from Blue Ridge any Loan pursuant to the Liquidity
Agreement, each Loan so assigned shall each be deemed to have an Interest Period
commencing on the date of any such assignment.

     Section 4.2 INTEREST PAYMENTS. On the Settlement Date for each Liquidity
Funding, Borrower shall pay to the Administrative Agent (for the benefit of the
Liquidity Banks) an aggregate amount equal to the accrued and unpaid Interest
for the entire Interest Period of each such Liquidity Funding in accordance with
Article II.

     Section 4.3 SELECTION AND CONTINUATION OF INTEREST PERIODS.

          (a) With consultation from (and approval by) the Administrative Agent,
     Borrower shall from time to time request Interest Periods for the Liquidity
     Fundings, PROVIDED THAT if at any time any Liquidity Funding is
     outstanding, Borrower shall always request Interest Periods such that at
     least one Interest Period shall end on the date specified in clause (a) of
     the definition of Settlement Date.

          (b) Borrower or the Administrative Agent, upon notice to and consent
     by the other received at least three Business Days prior to the end of an
     Interest Period (the "TERMINATING Tranche") for any Liquidity Funding, may,
     effective on the last day of the Terminating Tranche: (i) divide any such
     Liquidity Funding into multiple Liquidity Fundings, (ii) combine any such
     Liquidity Funding with one or more other Liquidity Fundings that have a
     Terminating Tranche ending on the same day as such Terminating Tranche or
     (iii) combine any such Liquidity Funding with a new Liquidity Funding to be
     made by the Liquidity Banks on the day such Terminating Tranche ends.

     Section 4.4 LIQUIDITY BANK INTEREST RATES. Borrower may select the LIBO
Rate or the Alternate Base Rate for each Liquidity Funding. Borrower shall by
12:00 noon (New York time): (a) at least three Business Days prior to the
expiration of any Terminating Tranche with respect to which the LIBO Rate is
being requested as a new Interest Rate and (b) at least one Business Day prior
to the expiration of any Terminating Tranche with respect to which the Alternate
Base Rate is being requested as a new Interest Rate, give the Administrative
Agent irrevocable notice of the new Interest Rate for the Liquidity Funding
associated with such Terminating Tranche. Until Borrower gives notice to the
Administrative Agent of another Interest Rate, the initial Interest Rate for any
Loan transferred to the Liquidity Banks pursuant to the Liquidity Agreement
shall be the Alternate Base Rate (unless the Default Rate is then applicable).

                                       8
<Page>

     Section 4.5 SUSPENSION OF THE LIBO RATE.

          (a) If any Liquidity Bank notifies the Administrative Agent that (i)
     such Liquidity Bank has determined that funding its Pro Rata Share of the
     Liquidity Fundings at a LIBO Rate would violate any applicable law, rule,
     regulation, or directive of any governmental or regulatory authority,
     whether or not having the force of law, or that (ii) deposits of a type and
     maturity appropriate to match fund its Liquidity Funding at such LIBO Rate
     are not available or (iii) such LIBO Rate does not accurately reflect the
     cost of acquiring or maintaining a Liquidity Funding at such LIBO Rate,
     then the Administrative Agent shall suspend the availability of such LIBO
     Rate and require Borrower to select the Alternate Base Rate for any
     Liquidity Funding accruing Interest at such LIBO Rate.

          (b) If less than all of the Liquidity Banks give a notice to the
     Administrative Agent pursuant to Section 4.5(a), each Liquidity Bank which
     gave such a notice shall be obliged, at the request of Borrower, Blue Ridge
     or the Administrative Agent, to assign all of such Liquidity Bank's rights
     and obligations hereunder to (i) another Liquidity Bank or (ii) another
     funding entity nominated by Borrower or the Administrative Agent that is an
     Eligible Assignee willing to participate in this Agreement through the
     Liquidity Termination Date in the place of such notifying Liquidity Bank;
     PROVIDED THAT (i) the notifying Liquidity Bank receives payment in full,
     pursuant to an Assignment Agreement, of all Obligations owing to it
     (whether due or accrued), and (ii) the replacement Liquidity Bank otherwise
     satisfies the requirements of Section 12.1(b).

     Section 4.6 DEFAULT RATE. From and after the occurrence of an Amortization
Event, all Liquidity Fundings shall accrue Interest at the Default Rate.

                                   ARTICLE V

                         REPRESENTATIONS AND WARRANTIES

     Section 5.1 REPRESENTATIONS AND WARRANTIES OF THE LOAN PARTIES. Each Loan
Party hereby represents and warrants to the Administrative Agent and the
Lenders, as to itself, as of the date hereof, as of the date of each Advance and
as of each Settlement Date that:

          (a) EXISTENCE AND POWER. Such Loan Party's jurisdiction of
     organization is correctly set forth in the preamble to this Agreement. Such
     Loan Party is duly organized under the laws of that jurisdiction and no
     other state or jurisdiction, and such jurisdiction must maintain a public
     record showing the organization to have been organized. Such Loan Party is
     validly existing and in good standing under the laws of its state of
     organization. Such Loan Party is duly qualified to do business and is in
     good standing as a foreign entity, and has and holds all organizational
     power and all governmental licenses, authorizations, consents and approvals
     required to carry on its business in each jurisdiction in which its
     business is conducted except where the failure to so qualify or so hold
     would not reasonably be expected to have a Material Adverse Effect.

                                       9
<Page>

          (b) POWER AND AUTHORITY; DUE AUTHORIZATION, EXECUTION AND DELIVERY.
     The execution and delivery by such Loan Party of this Agreement and each
     other Transaction Document to which it is a party, and the performance of
     its obligations hereunder and thereunder and, in the case of Borrower,
     Borrower's use of the proceeds of Advances made hereunder, are within its
     corporate powers and authority and have been duly authorized by all
     necessary corporate action on its part. This Agreement and each other
     Transaction Document to which such Loan Party is a party has been duly
     executed and delivered by such Loan Party.

          (c) NO CONFLICT. The execution and delivery by such Loan Party of this
     Agreement and each other Transaction Document to which it is a party, and
     the performance of its obligations hereunder and thereunder do not
     contravene or violate (i) its certificate or articles of incorporation or
     by-laws, (ii) any law, rule or regulation applicable to it, (iii) any
     restrictions under any agreement, contract or instrument to which it is a
     party or by which it or any of its property is bound, or (iv) any order,
     writ, judgment, award, injunction or decree binding on or affecting it or
     its property, and do not result in the creation or imposition of any
     Adverse Claim on assets of such Loan Party or its Subsidiaries (except as
     created under this Agreement or any other Transaction Document) except, in
     any case, where such contravention or violation would not reasonably be
     expected to have a Material Adverse Effect; and no Transaction requires
     compliance with any bulk sales act or similar law.

          (d) GOVERNMENTAL AUTHORIZATION. Other than the filing of the financing
     statements required hereunder, no authorization or approval or other action
     by, and no notice to or filing with, any governmental authority or
     regulatory body is required for the due execution and delivery by such Loan
     Party of this Agreement and each other Transaction Document to which it is
     a party and the performance of its obligations hereunder and thereunder.

          (e) ACTIONS, SUITS. There are no actions, suits or proceedings
     pending, or to the best of such Loan Party's knowledge, threatened, against
     or affecting such Loan Party, or any of its properties, in or before any
     court, arbitrator or other body, that would reasonably be expected to have
     a Material Adverse Effect. Such Loan Party is not in default with respect
     to any order of any court, arbitrator or governmental body.

          (f) BINDING EFFECT. This Agreement and each other Transaction Document
     to which such Loan Party is a party constitute the legal, valid and binding
     obligations of such Loan Party enforceable against such Loan Party in
     accordance with their respective terms.

          (g) ACCURACY OF INFORMATION. All information heretofore furnished by
     such Loan Party or any of its Affiliates to the Administrative Agent or the
     Lenders pursuant to this Agreement, any of the other Transaction Documents
     or any Transaction is, and all such information hereafter furnished by such
     Loan Party or any of its Affiliates to the Administrative Agent or the
     Lenders will be, true and accurate in every material respect on the date
     such information is stated or certified and does not and will not contain
     any material misstatement of fact or omit to state a material fact or any
     fact necessary to make the statements contained therein not misleading.

          (h) USE OF PROCEEDS. No proceeds of any Advance hereunder will be used
     (i) for a purpose that violates, or would be inconsistent with, (1) Section
     7.2(e) or (2) Regulation T,

                                       10
<Page>

     U or X promulgated by the Board of Governors of the Federal Reserve System
     from time to time or (ii) to acquire any security in any transaction which
     is subject to Section 12, 13 or 14 of the Securities Exchange Act of 1934,
     as amended.

          (i) GOOD TITLE. Borrower is the legal and beneficial owner of the
     Receivables and Related Security with respect thereto, free and clear of
     any Adverse Claim, except as created by the Transaction Documents. There
     have been duly filed all financing statements or other similar instruments
     or documents necessary under the UCC (or any comparable law) of all
     appropriate jurisdictions to perfect Borrower's ownership interest in each
     Receivable, the Related Security and the Collections.

          (j) PERFECTION. This Agreement is effective to create a valid security
     interest in favor of the Administrative Agent for the benefit of the
     Secured Parties in the Collateral to secure payment of the Obligations,
     free and clear of any Adverse Claim except as created by the Transactions
     Documents. There have been duly filed all financing statements or other
     similar instruments or documents necessary under the UCC (or any comparable
     law) of all appropriate jurisdictions to perfect the Administrative Agent's
     (on behalf of the Secured Parties) security interest in the Collateral.
     Such Loan Party's jurisdiction of organization is a jurisdiction whose law
     generally requires information concerning the existence of a nonpossessory
     security interest to be made generally available in a filing, record or
     registration system as a condition or result of such a security interest's
     obtaining priority over the rights of a lien creditor which respect to
     collateral.

          (k) PLACES OF BUSINESS AND LOCATIONS OF RECORDS. The principal places
     of business and chief executive office of such Loan Party and the offices
     where it keeps all of its Records are located at the address(es) listed on
     Exhibit III or such other locations of which the Administrative Agent has
     been notified in accordance with Section 7.2(a) in jurisdictions where all
     action required by Section 14.4(a) has been taken and completed. Borrower's
     Federal Employer Identification Number is correctly set forth on Exhibit
     III.

          (l) COLLECTIONS. The conditions and requirements set forth in Section
     7.1(j) and Section 8.2 have at all times been satisfied and duly performed.
     The names, addresses and jurisdictions of organization of all Collection
     Banks, together with the account numbers of the Collection Accounts of
     Borrower at each Collection Bank and the post office box number of each
     Lock-Box, are listed on Exhibit IV. Borrower has not granted any Person,
     other than the Administrative Agent as contemplated by this Agreement,
     dominion and control of any Lock-Box or Collection Account, or the right to
     take dominion and control of any such Lock-Box or Collection Account at a
     future time or upon the occurrence of a future event.

          (m) MATERIAL ADVERSE EFFECT. (i) The initial Servicer represents and
     warrants that, except for the downgrade of the Servicer by S&P on April 10,
     2002, since December 28, 2001 through and including the date hereof, no
     event has occurred that would have a material adverse effect on the
     financial condition or operations of the initial Servicer and its
     Subsidiaries, taken as a whole, or the ability of the initial Servicer to
     perform its obligations under this Agreement, and (ii) Borrower represents
     and warrants that since the date of this Agreement through and including
     the date hereof, no event has occurred that would have a material adverse
     effect on (1) the financial condition or operations of Borrower, (2) the
     ability of Borrower to

                                       11
<Page>

     perform its obligations under the Transaction Documents, or (3) the
     collectability of the Receivables generally or any material portion of the
     Receivables.

          (n) NAMES. The name in which Borrower has executed this Agreement is
     identical to the name of Borrower as indicated on the public record of its
     state of organization which shows Borrower to have been organized. In the
     past five years, Borrower has not used any corporate names, trade names or
     assumed names other than the name in which it has executed this Agreement.

          (o) OWNERSHIP OF BORROWER. Performance Guarantor owns, directly or
     indirectly, 100% of the issued and outstanding capital stock of the
     Borrower, free and clear of any Adverse Claim except as contemplated by the
     Transaction Documents. Such capital stock is validly issued, fully paid and
     nonassessable, and, except as Performance Guarantor owns, directly or
     indirectly, there are no options, warrants or other rights to acquire
     securities of the Borrower.

          (p) NOT A HOLDING COMPANY OR AN INVESTMENT COMPANY. Such Loan Party is
     not a "holding company" or a "subsidiary holding company" of a "holding
     company" within the meaning of the Public Utility Holding Company Act of
     1935, as amended, or any successor statute. Such Loan Party is not an
     "investment company" within the meaning of the Investment Company Act of
     1940, as amended, or any successor statute.

          (q) COMPLIANCE WITH LAW. Such Loan Party has complied in all respects
     with all applicable laws, rules, regulations, orders, writs, judgments,
     injunctions, decrees or awards to which it may be subject, except where the
     failure to so comply would not reasonably be expected to have a Material
     Adverse Effect. Each Receivable, together with the Contract related
     thereto, does not contravene any laws, rules or regulations applicable
     thereto (including laws, rules and regulations relating to truth in
     lending, fair credit billing, fair credit reporting, equal credit
     opportunity, fair debt collection practices and privacy), and no part of
     such Contract is in violation of any such law, rule or regulation, except
     where such contravention or violation would not reasonably be expected to
     have a Material Adverse Effect.

          (r) COMPLIANCE WITH CREDIT AND COLLECTION POLICY. Such Loan Party has
     complied in all material respects with the Credit and Collection Policy
     with regard to each Receivable and the related Contract, and has not made
     any material change to such Credit and Collection Policy, except such
     material change as to which the Administrative Agent has been notified in
     accordance with Section 7.1(a)(vii).

          (s) PAYMENTS TO APPLICABLE ORIGINATOR. With respect to each Receivable
     transferred to Borrower under the Receivables Sale Agreement, Borrower has
     given reasonably equivalent value to the applicable Originator in
     consideration therefor and such transfer was not made for or on account of
     an antecedent debt. No transfer by any Originator of any Receivable under
     the Receivables Sale Agreement is voidable under any section of the
     Bankruptcy Reform Act of 1978 (11 U.S.C. Sections 101 ET SEQ.), as amended.

          (t) ENFORCEABILITY OF CONTRACTS. Each Contract with respect to each
     Receivable is effective to create, and has created, a legal, valid and
     binding obligation of the

                                       12
<Page>

     related Obligor to pay the Outstanding Balance of the Receivable created
     thereunder and any accrued interest thereon, enforceable against the
     Obligor in accordance with its terms.

          (u) ELIGIBLE RECEIVABLES. Each Receivable included in the Net Pool
     Balance as an Eligible Receivable on the date of any Monthly Report was an
     Eligible Receivable on such date.

          (v) BORROWING LIMIT. Immediately after giving effect to each Advance
     and each settlement on any Settlement Date hereunder, the Aggregate
     Principal is less than or equal to the Borrowing Limit.

          (w) ACCOUNTING. The manner in which such Loan Party accounts for the
     transactions contemplated by this Agreement and the Receivables Sale
     Agreement does not jeopardize the true sale analysis.

     Section 5.2 LIQUIDITY BANK REPRESENTATIONS AND WARRANTIES. Each Liquidity
Bank hereby represents and warrants to the Administrative Agent, Blue Ridge and
the Loan Parties that:

          (a) EXISTENCE AND POWER. Such Liquidity Bank is a banking association
     duly organized, validly existing and in good standing under the laws of its
     jurisdiction of organization, and has all organizational power to perform
     its obligations hereunder and under the Liquidity Agreement.

          (b) NO CONFLICT. The execution and delivery by such Liquidity Bank of
     this Agreement and the Liquidity Agreement and the performance of its
     obligations hereunder and thereunder are within its corporate powers, have
     been duly authorized by all necessary corporate action, do not contravene
     or violate (i) its certificate or articles of incorporation or association
     or by-laws, (ii) any law, rule or regulation applicable to it, (iii) any
     restrictions under any agreement, contract or instrument to which it is a
     party or any of its property is bound, or (iv) any order, writ, judgment,
     award, injunction or decree binding on or affecting it or its property, and
     do not result in the creation or imposition of any Adverse Claim on its
     assets. This Agreement and the Liquidity Agreement have been duly
     authorized, executed and delivered by such Liquidity Bank.

          (c) GOVERNMENTAL AUTHORIZATION. No authorization or approval or other
     action by, and no notice to or filing with, any governmental authority or
     regulatory body is required for the due execution and delivery by such
     Liquidity Bank of this Agreement or the Liquidity Agreement and the
     performance of its obligations hereunder or thereunder.

          (d) BINDING EFFECT. Each of this Agreement and the Liquidity Agreement
     constitutes the legal, valid and binding obligation of such Liquidity Bank
     enforceable against such Liquidity Bank in accordance with its terms.

                                       13

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                                   ARTICLE VI

                             CONDITIONS OF ADVANCES

     Section 6.1 CONDITIONS PRECEDENT TO INITIAL ADVANCE. The initial Advance
under this Agreement is subject to the conditions precedent that (a) the
Administrative Agent shall have received on or before the date of such Advance
those documents listed on Schedule B and those documents listed on Schedule A to
the Receivables Sale Agreement, (b) the Rating Agency Condition shall have been
satisfied, (c) the Administrative Agent shall have received all fees and
expenses required to be paid on such date pursuant to this Agreement and the Fee
Letter, (d) the Administrative Agent shall have received audit information and
other related due diligence and the same shall be satisfactory to the
Administrative Agent in its sole discretion and (e) simultaneously with the
delivery of the initial Borrowing Notice, the Originator shall have delivered to
the Buyer the notice contemplated by the Receivables Sale Agreement in
connection with the Initial Sale Closing Date (as defined in the Receivables
Sale Agreement).

     Section 6.2 CONDITIONS PRECEDENT TO ALL ADVANCES. Each Advance and each
rollover or continuation of any Advance shall be subject to the further
conditions precedent that (a) the Servicer shall have delivered to the
Administrative Agent on or prior to the date thereof, in form and substance
satisfactory to the Administrative Agent, all Monthly Reports as and when due
under Section 8.5; (b) the Facility Termination Date shall not have occurred;
(c) the Administrative Agent shall have received such other approvals, opinions
or documents as it may reasonably request; and (d) on the date thereof, the
following statements shall be true (and acceptance of the proceeds of such
Advance shall be deemed a representation and warranty by Borrower that such
statements are then true):

               (i) the representations and warranties set forth in Section 5.1
          are true and correct in all material respects on and as of the date of
          such Advance (or such Settlement Date, as the case may be) as though
          made on and as of such date; PROVIDED THAT the materiality threshold
          in the preceding clause shall not be applicable with respect to any
          representation or warranty which itself contains a materiality
          threshold

               (ii) no event has occurred and is continuing, or would result
          from such Advance (or the continuation thereof), that will constitute
          an Amortization Event, and no event has occurred and is continuing, or
          would result from such Advance (or the continuation thereof), that
          would constitute an Unmatured Amortization Event; and

               (iii) after giving effect to such Advance (or the continuation
          thereof), the Aggregate Principal will not exceed the Borrowing Limit;
          and

               (iv) no event has occurred which would reasonably be expected to
          cause a Material Adverse Effect.

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<Page>

                                  ARTICLE VII

                                    COVENANTS

     Section 7.1 AFFIRMATIVE COVENANTS OF THE LOAN PARTIES. Until the Final
Payout Date, each Loan Party hereby covenants, as to itself, as set forth below:

          (a) FINANCIAL REPORTING. Such Loan Party will maintain, for itself and
     each of its Subsidiaries, a system of accounting established and
     administered in accordance with GAAP, and furnish or cause to be furnished
     to the Administrative Agent:

               (i) ANNUAL REPORTING. Within 120 days after the close of each of
          its respective fiscal years, audited, unqualified financial statements
          (which shall include balance sheets, statements of income and retained
          earnings and a statement of cash flows) for Spherion and its
          Subsidiaries and the Borrower and its Subsidiaries for such fiscal
          year certified in a manner acceptable to the Administrative Agent by
          Deloitte & Touche, LLP, or such other independent public accountants
          reasonably acceptable to the Administrative Agent (which acceptance
          shall not be unreasonably withheld).

               (ii) QUARTERLY REPORTING. Within 60 days after the close of the
          first three quarterly periods of each of Spherion's and the Borrower's
          fiscal years, unaudited balance sheets of each Spherion and its
          Subsidiaries and the Borrower and its Subsidiaries as at the close of
          each such period and unaudited statements of income and retained
          earnings and an unaudited statement of cash flows for Spherion and its
          Subsidiaries and the Borrower and its Subsidiaries for the period from
          the beginning of such fiscal year to the end of such quarter, all
          certified by such Loan Party's Authorized Officer.

               (iii) COMPLIANCE CERTIFICATE. Together with the financial
          statements required hereunder, a compliance certificate in
          substantially the form of Exhibit V signed by such Loan Party's
          Authorized Officer and dated the date of such annual financial
          statement or such quarterly financial statement, as the case may be.

               (iv) SHAREHOLDERS STATEMENTS AND REPORTS. Promptly upon the
          furnishing thereof to the shareholders of Spherion copies of all
          financial statements, reports and proxy statements so furnished.

               (v) S.E.C. FILINGS. Promptly upon the filing thereof, copies of
          all registration statements and annual, quarterly, monthly or other
          regular reports which any Loan Party or any of its Affiliates files
          with the Securities and Exchange Commission.

               (vi) COPIES OF NOTICES. Promptly upon its receipt of any notice,
          request for consent, financial statements, certification, report or
          other communication under or in connection with any Transaction
          Document from any Person other than the Administrative Agent or any
          Lender, copies of the same.

               (vii) CHANGE IN CREDIT AND COLLECTION POLICY. At least 10 days
          prior to the effectiveness of any material change in or material
          amendment to the Credit and

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<Page>

          Collection Policy, a copy of the Credit and Collection Policy then in
          effect and a notice (1) indicating such change or amendment, and (2)
          if such proposed change or amendment would be reasonably likely to
          affect adversely the collectability of the Receivables or decrease the
          credit quality of any newly created Receivables, requesting the
          Administrative Agent's consent thereto.

               (viii) OTHER INFORMATION. Promptly, from time to time, such other
          information, documents, records or reports relating to the Receivables
          or the condition or operations, financial or otherwise, of such Loan
          Party as the Administrative Agent may from time to time reasonably
          request to protect the interests of the Administrative Agent and the
          Lenders under or as contemplated by this Agreement.

          (b) NOTICES. Such Loan Party will notify the Administrative Agent in
     writing of any of the following promptly upon learning of the occurrence
     thereof, describing the same and, if applicable, the actions being taken
     with respect thereto:

               (i) AMORTIZATION EVENTS OR UNMATURED AMORTIZATION EVENTS. The
          occurrence of each Amortization Event and each Unmatured Amortization
          Event, by a statement of an Authorized Officer of such Loan Party.

               (ii) JUDGMENTS AND PROCEEDINGS. (1) (A) The entry of any judgment
          or decree against Performance Guarantor, the Servicer or any of their
          respective Material Subsidiaries if the aggregate amount of all
          judgments and decrees then outstanding against Performance Guarantor,
          the Servicer and its/their respective Material Subsidiaries exceeds
          $1,000,000 after deducting (x) the amount with respect to which
          Performance Guarantor, the Servicer or any such Material Subsidiary,
          as the case may be, is insured and with respect to which the insurer
          has assumed responsibility in writing, and (y) the amount for which
          Performance Guarantor, the Servicer or any such Material Subsidiary is
          otherwise indemnified if the terms of such indemnification are
          satisfactory to the Administrative Agent, and (B) the institution of
          any litigation, arbitration proceeding or governmental proceeding
          against Performance Guarantor or the Servicer which, individually or
          in the aggregate, would reasonably be expected to have a Material
          Adverse Effect; and (2) the entry of any judgment or decree or the
          institution of any litigation, arbitration proceeding or governmental
          proceeding against Borrower.

               (iii) MATERIAL ADVERSE EFFECT. The occurrence of any event or
          condition that has had, or would reasonably be expected to have, a
          Material Adverse Effect.

               (iv) TERMINATION DATE. The occurrence of the "TERMINATION DATE"
          under and as defined in the Receivables Sale Agreement.

               (v) DEFAULTS UNDER OTHER AGREEMENTS. The occurrence of a default
          or an event of default under any other financing arrangement pursuant
          to which such Loan Party is a debtor or an obligor provided that, in
          the case of Spherion, to the extent such other financing arrangement
          has unsatisfied payment obligations in excess of $1,000,000.

               (vi) NOTICES UNDER RECEIVABLES SALE AGREEMENT. Copies of all
          notices delivered by or to such Loan Party under the Receivables Sale
          Agreement.

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<Page>

               (vii) DOWNGRADE OF PERFORMANCE GUARANTOR. Any downgrade in the
          rating of any Indebtedness of Performance Guarantor by S&P or Moody's,
          setting forth the Indebtedness affected and the nature of such change.

          (c) COMPLIANCE WITH LAWS AND PRESERVATION OF CORPORATE EXISTENCE. Such
     Loan Party will comply in all respects with all applicable laws, rules,
     regulations, orders, writs, judgments, injunctions, decrees or awards to
     which it may be subject, except where the failure to so comply would not
     reasonably be expected to have a Material Adverse Effect. Such Loan Party
     will preserve and maintain its corporate existence, rights, franchises and
     privileges in the jurisdiction of its incorporation, and qualify and remain
     qualified in good standing as a foreign corporation in each jurisdiction
     where its business is conducted, except where the failure to so preserve
     and maintain or qualify would not reasonably be expected to have a Material
     Adverse Effect.

          (d) AUDITS. Such Loan Party will furnish to the Administrative Agent
     from time to time such information with respect to it and the Receivables
     as the Administrative Agent may reasonably request. Such Loan Party will,
     from time to time during regular business hours as requested by the
     Administrative Agent upon reasonable notice and at the sole cost of such
     Loan Party, permit the Administrative Agent, or its agents or
     representatives (and shall cause each Originator to permit the
     Administrative Agent or its agents or representatives): (i) to examine and
     make copies of and abstracts from all Records in the possession or under
     the control of such Person relating to the Collateral, including the
     related Contracts, and (ii) to visit the offices and properties of such
     Person for the purpose of examining such materials described in clause (i)
     above, and to discuss matters relating to such Person's financial condition
     or the Collateral or any Person's performance under any of the Transaction
     Documents or any Person's performance under the Contracts and, in each
     case, with any of the officers or employees of Borrower or the Servicer
     having knowledge of such matters (each of the foregoing examinations and
     visits, a "REVIEW"); PROVIDED, HOWEVER, that, so long as no Amortization
     Event has occurred and is continuing, (1) the Loan Parties shall only be
     responsible for the costs and expenses of one (1) Review in any one
     calendar year unless (2) the first such Review in such calendar year
     resulted in negative findings (in which case the Loan Parties shall be
     responsible for the costs and expenses of two (2) such Reviews in such
     calendar year), or (B) the Borrower delivers an Extension Request and the
     applicable Response Date is more than three calendar months after the first
     Review in such calendar year, and (2) the Administrative Agent will not
     request more than four (4) Reviews in any one calendar year.
     Notwithstanding the foregoing, if (i) the Borrower requests the approval of
     a new Eligible Originator which is a Material Proposed Addition or (ii) any
     Material Acquisition is consummated by an Originator, the Loan Parties
     shall be responsible for the costs and expenses of one additional Review
     per proposed Material Proposed Addition or per Material Acquisition in the
     calendar year in which such Material Proposed Addition is expected to occur
     or such Material Acquisition is expected to be consummated if such
     additional Review is requested by any of the Agents.

          (e) KEEPING AND MARKING OF RECORDS AND BOOKS.

               (i) The Servicer will (and will cause each Originator to)
          maintain and implement administrative and operating procedures
          (including an ability to recreate records evidencing Receivables in
          the event of the destruction of the originals thereof),

                                       17
<Page>

          and keep and maintain all documents, books, records and other
          information reasonably necessary or advisable for the collection of
          all Receivables (including records adequate to permit the immediate
          identification of each new Receivable and all Collections of and
          adjustments to each existing Receivable). The Servicer will (and will
          cause each Originator to) give the Administrative Agent notice of any
          material change in the administrative and operating procedures
          referred to in the previous sentence.

               (ii) Such Loan Party will (and will cause each Originator to):
          (1) on or prior to the date hereof, mark its master data processing
          records and other books and records relating to the Loans with a
          legend, acceptable to the Administrative Agent, describing the
          Administrative Agent's security interest in the Collateral and (2)
          upon the request of the Administrative Agent following the occurrence
          of an Amortization Event: (A) mark each Contract with a legend
          describing the Administrative Agent's security interest and (B)
          deliver to the Administrative Agent all Contracts (including all
          multiple originals of any such Contract constituting an instrument, a
          certificated security or chattel paper) relating to the Receivables.

          (f) COMPLIANCE WITH CONTRACTS AND CREDIT AND COLLECTION POLICY. Such
     Loan Party will (and will cause each Originator to) timely and fully (i)
     perform and comply in all material respects with all provisions, covenants
     and other promises required to be observed by it under the Contracts
     related to the Receivables, and (ii) comply in all material respects with
     the Credit and Collection Policy in regard to each Receivable and the
     related Contract.

          (g) PERFORMANCE AND ENFORCEMENT OF RECEIVABLES SALE AGREEMENT.
     Borrower will, and will require each Originator to, perform each of their
     respective obligations and undertakings under and pursuant to the
     Receivables Sale Agreement, will purchase Receivables thereunder in
     compliance with the terms thereof and will enforce the rights and remedies
     accorded to Borrower under the Receivables Sale Agreement. Borrower will
     take all actions to perfect and enforce its rights and interests (and the
     rights and interests of the Administrative Agent and the Lenders as
     assignees of Borrower) under the Receivables Sale Agreement as the
     Administrative Agent may from time to time reasonably request, including
     making claims to which it may be entitled under any indemnity,
     reimbursement or similar provision contained in the Receivables Sale
     Agreement.

          (h) OWNERSHIP. Borrower will (or will cause each Originator to) take
     all necessary action to (i) vest legal and equitable title to the
     Collateral purchased under the Receivables Sale Agreement irrevocably in
     Borrower, free and clear of any Adverse Claims (other than Adverse Claims
     in favor of the Administrative Agent, for the benefit of the Secured
     Parties) including the filing of all financing statements or other similar
     instruments or documents necessary under the UCC (or any comparable law) of
     all appropriate jurisdictions to perfect Borrower's interest in such
     Collateral and such other action to perfect, protect or more fully evidence
     the interest of Borrower therein as the Administrative Agent may reasonably
     request), and (ii) establish and maintain, in favor of the Administrative
     Agent, for the benefit of the Secured Parties, a valid and perfected first
     priority security interest in all Collateral, free and clear of any Adverse
     Claims, including the filing of all financing statements or other similar
     instruments or documents necessary under the UCC (or any comparable law) of
     all appropriate jurisdictions to perfect the Administrative Agent's (for
     the benefit of the Secured Parties)

                                       18
<Page>

     security interest in the Collateral and such other action to perfect,
     protect or more fully evidence the interest of the Administrative Agent for
     the benefit of the Secured Parties as the Administrative Agent may
     reasonably request.

          (i) LENDERS' RELIANCE. Borrower acknowledges that the Lenders are
     entering into the Transactions in reliance upon Borrower's identity as a
     legal entity that is separate from each Originator. Therefore, from and
     after the date of execution and delivery of this Agreement, Borrower shall
     take all reasonable actions, including all actions that the Administrative
     Agent or any Lender may from time to time reasonably request, to maintain
     Borrower's identity as a separate legal entity and to make it manifest to
     third parties that Borrower is an entity with assets and liabilities
     distinct from those of each Originator and any Affiliates thereof (other
     than Borrower) and not just a division of any Originator or any such
     Affiliate. Without limiting the generality of the foregoing and in addition
     to the other covenants set forth herein, Borrower will:

               (1) conduct its own business in its own name and require that all
          full-time employees of Borrower, if any, identify themselves as such
          and not as employees of any Originator (including by means of
          providing appropriate employees with business or identification cards
          identifying such employees as Borrower's employees);

               (2) compensate all employees, consultants and agents directly,
          from Borrower's own funds, for services provided to Borrower by such
          employees, consultants and agents and, to the extent any employee,
          consultant or agent of Borrower is also an employee, consultant or
          agent of any Originator or any Affiliate thereof, allocate the
          compensation of such employee, consultant or agent between Borrower
          and such Originator or such Affiliate, as applicable, on a basis that
          reflects the services rendered to Borrower and such Originator or such
          Affiliate, as applicable;

               (3) clearly identify its offices (by signage or otherwise) as its
          offices and, if such office is located in the offices of any
          Originator, Borrower shall lease such office at a fair market rent;

               (4) have a separate telephone number, which will be answered only
          in its name and separate stationery and checks in its own name;

               (5) conduct all transactions with each Originator and the
          Servicer (including any delegation of its obligations hereunder as
          Servicer) strictly on an arm's-length basis, allocate all overhead
          expenses (including telephone and other utility charges) for items
          shared between Borrower and such Originator on the basis of actual use
          to the extent practicable and, to the extent such allocation is not
          practicable, on a basis reasonably related to actual use;

               (6) at all times have a Board of Directors consisting of three
          members, at least one member of which is an Independent Director;

               (7) observe all corporate formalities as a distinct entity, and
          ensure that all corporate actions relating to (A) the selection,
          maintenance or replacement of the Independent Director, (B) the
          dissolution or liquidation of Borrower or (C) the initiation of,
          participation in, acquiescence in or consent to any bankruptcy,
          insolvency, reorganization or

                                       19
<Page>

          similar proceeding involving Borrower, are duly authorized by
          unanimous vote of its Board of Directors (including the Independent
          Director);

               (8) maintain Borrower's books and records separate from those of
          each Originator and any Affiliate thereof and otherwise readily
          identifiable as its own assets rather than assets of any Originator or
          any Affiliate thereof;

               (9) prepare its financial statements separately from those of
          each Originator and insure that any consolidated financial statements
          of any Originator or any Affiliate thereof that include Borrower and
          that are filed with the Securities and Exchange Commission or any
          other governmental agency have notes clearly stating that Borrower is
          a separate corporate entity and that its assets will be available
          first and foremost to satisfy the claims of the creditors of Borrower;

               (10) except as herein specifically otherwise provided, maintain
          the funds or other assets of Borrower separate from, and not
          commingled with, those of any Originator or any Affiliate thereof and
          only maintain bank accounts or other depository accounts to which
          Borrower alone is the account party, into which Borrower alone makes
          deposits and from which Borrower alone (or the Administrative Agent
          hereunder) has the power to make withdrawals;

               (11) pay all of Borrower's operating expenses from Borrower's own
          assets (except for certain payments by any Originator or other Persons
          pursuant to allocation arrangements that comply with the requirements
          of this Section 7.1(i));

               (12) operate its business and activities such that: it does not
          engage in any business or activity of any kind, or enter into any
          transaction or indenture, mortgage, instrument, agreement, contract,
          lease or other undertaking, other than the transactions contemplated
          and authorized by this Agreement and the Receivables Sale Agreement;
          and does not create, incur, guarantee, assume or suffer to exist any
          indebtedness or other liabilities, whether direct or contingent, other
          than (A) as a result of the endorsement of negotiable instruments for
          deposit or collection or similar transactions in the ordinary course
          of business, (B) the incurrence of obligations under this Agreement,
          (C) the incurrence of obligations, as expressly contemplated in the
          Receivables Sale Agreement, to make payment to the applicable
          Originator thereunder for the purchase of Receivables from such
          Originator under the Receivables Sale Agreement, and (D) the
          incurrence of operating expenses in the ordinary course of business of
          the type otherwise contemplated by this Agreement;

               (13) maintain its corporate charter in conformity with this
          Agreement, such that it does not amend, restate, supplement or
          otherwise modify its Certificate of Incorporation or By-Laws in any
          respect that would impair its ability to comply with the terms or
          provisions of any of the Transaction Documents, including Section
          7.1(i) of this Agreement;

               (14) maintain the effectiveness of, and continue to perform under
          the Receivables Sale Agreement and the Performance Undertaking, such
          that it does not amend, restate, supplement, cancel, terminate or
          otherwise modify the Receivables Sale Agreement or the Performance
          Undertaking, or give any consent, waiver, directive or approval
          thereunder or

                                       20
<Page>

          waive any default, action, omission or breach under the Receivables
          Sale Agreement or the Performance Undertaking or otherwise grant any
          indulgence thereunder, without (in each case) the prior written
          consent of the Administrative Agent;

               (15) maintain its corporate separateness such that it does not
          merge or consolidate with or into, or convey, transfer, lease or
          otherwise dispose of (whether in one transaction or in a series of
          transactions, and except as otherwise contemplated herein) all or
          substantially all of its assets (whether now owned or hereafter
          acquired) to, or acquire all or substantially all of the assets of,
          any Person, nor at any time create, have, acquire, maintain or hold
          any interest in any Subsidiary.

               (16) maintain at all times the Required Capital Amount (as
          defined in the Receivables Sale Agreement) and refrain from making any
          dividend, distribution, redemption of capital stock or payment of any
          subordinated indebtedness which would cause the Required Capital
          Amount to cease to be so maintained; and

               (17) take such other actions as are necessary on its part to
          ensure that the facts and assumptions set forth in the opinion issued
          by Arent Fox Kintner Plotkin & Kahn, PLLC, as counsel for Borrower, in
          connection with the closing or initial Advance under this Agreement
          and relating to substantive consolidation issues, and in the
          certificates accompanying such opinion, remain true and correct in all
          material respects at all times.

          (j) COLLECTIONS. Such Loan Party will cause (1) all proceeds from all
     Lock-Boxes to be directly deposited by a Collection Bank into a Collection
     Account and (2) each Lock-Box and Collection Account to be subject at all
     times to a Collection Account Agreement that is in full force and effect.
     If any payments relating to the Collateral are remitted directly to
     Borrower or any Affiliate of Borrower, Borrower will remit (or will cause
     all such payments to be remitted) directly to a Collection Bank and
     deposited into a Collection Account within two Business Days following
     receipt thereof, and, at all times prior to such remittance, Borrower will
     itself hold or, if applicable, will cause such payments to be held in trust
     for the exclusive benefit of the Administrative Agent and the Lenders.
     Borrower will maintain exclusive ownership, dominion and control (subject
     to the terms of this Agreement) of each Lock-Box and Collection Account and
     shall not grant the right to take dominion and control of any Lock-Box or
     Collection Account at a future time or upon the occurrence of a future
     event to any Person, except to the Administrative Agent as contemplated by
     this Agreement.

          (k) TAXES. Such Loan Party will file all tax returns and reports
     required by law to be filed by it and will promptly pay all taxes and
     governmental charges at any time owing the non-filing or non-payment or
     which would reasonably be expected to cause a Material Adverse Effect,
     except any such taxes which are not yet delinquent or being diligently
     contested in good faith by appropriate proceedings and for which adequate
     reserves in accordance with GAAP shall have been set aside on its books.
     Borrower will pay when due any taxes payable in connection with the
     Receivables, exclusive of taxes on or measured by income or gross receipts
     of the Administrative Agent or any Lender.

          (l) PAYMENT TO APPLICABLE ORIGINATOR. With respect to any Receivable
     purchased by Borrower from any Originator, such purchase shall be effected
     under, and in

                                       21
<Page>

     compliance with the Receivables Sale Agreement, including the terms
     relating to the amount and timing of payments to be made to such Originator
     in respect of the purchase price for such Receivable.

     Section 7.2 NEGATIVE COVENANTS OF THE LOAN PARTIES. Until the Final Payout
Date, each Loan Party hereby covenants, as to itself, that:

          (a) NAME CHANGE, OFFICES AND RECORDS. Such Loan Party will not change
     its name, identity or structure (within the meaning of any applicable
     enactment of the UCC), relocate its chief executive office at any time
     while the location of its chief executive office is relevant to perfection
     of the Administrative Agent's security interest, for the benefit of the
     Secured Parties, in the Receivables, Related Security and Collections, or
     change any office where Records are kept unless it shall have: (i) given
     the Administrative Agent at least thirty days' prior notice thereof and
     (ii) delivered to the Administrative Agent all financing statements,
     instruments and other documents requested by the Administrative Agent in
     connection with such change or relocation.

          (b) CHANGE IN PAYMENT INSTRUCTIONS TO OBLIGORS. Except as may be
     required by the Administrative Agent pursuant to Section 8.2(b), such Loan
     Party will not add or terminate any bank as a Collection Bank, or make any
     change in the instructions to Obligors regarding payments to be made to any
     Lock-Box or Collection Account, unless the Administrative Agent shall have
     received, at least 10 days before the proposed effective date therefor, (i)
     notice of such addition, termination or change and (ii) with respect to the
     addition of a Collection Bank or a Collection Account or Lock-Box, an
     executed Collection Account Agreement with respect to the new Collection
     Account or Lock-Box; PROVIDED, HOWEVER, that the Servicer may make changes
     in instructions to Obligors regarding payments if such new instructions
     require such Obligor to make payments to another existing Collection
     Account.

          (c) MODIFICATIONS TO CONTRACTS AND CREDIT AND COLLECTION POLICY. Such
     Loan Party will not, and will not permit any Originator to, make any change
     to the Credit and Collection Policy that would have a material adverse
     affect on the collectability of the Receivables or decrease the credit
     quality of any newly created Receivables. Except as provided in Section
     8.2(d), the Servicer will not, and will not permit any Originator to,
     extend, amend or otherwise modify the terms of any Receivable or any
     Contract related thereto other than in accordance with the Credit and
     Collection Policy.

          (d) SALES, LIENS. Borrower will not sell, assign (by operation of law
     or otherwise) or otherwise dispose of, or grant any option with respect to,
     or create or suffer to exist any Adverse Claim upon (including the filing
     of any financing statement) or with respect to, any of the Collateral, or
     assign any right to receive income with respect thereto (other than, in
     each case, the creation of a security interest therein in favor of the
     Administrative Agent as provided for herein), and Borrower will defend the
     right, title and interest of the Secured Parties in, to and under any of
     the foregoing property, against all claims of third parties claiming
     through or under Borrower or any Originator.

          (e) USE OF PROCEEDS. Borrower will not use the proceeds of the
     Advances for any purpose other than (i) paying for Receivables and Related
     Security under and in accordance

                                       22
<Page>

     with the Receivables Sale Agreement, including making payments on the
     Subordinated Notes to the extent permitted thereunder and under the
     Receivables Sale Agreement, (ii) paying its ordinary and necessary
     operating expenses when and as due, and (iii) making Restricted Junior
     Payments to the extent permitted under this Agreement.

          (f) TERMINATION DATE DETERMINATION. Borrower will not designate the
     Termination Date (as defined in the Receivables Sale Agreement), or send
     any notice to any Originator in respect thereof, without the prior consent
     of the Administrative Agent, except with respect to the occurrence of such
     Termination Date arising pursuant to Section 6.1(e) of the Receivables Sale
     Agreement.

          (g) RESTRICTED JUNIOR PAYMENTS. Borrower will not make any Restricted
     Junior Payment if after giving effect thereto, Borrower's Net Worth (as
     defined in the Receivables Sale Agreement) would be less than the Required
     Capital Amount (as defined in the Receivables Sale Agreement).

          (h) BORROWER INDEBTEDNESS. Borrower will not incur or permit to exist
     any Indebtedness or liability on account of deposits except: (i) the
     Obligations, (ii) the Subordinated Loans, and (iii) other current accounts
     payable arising in the ordinary course of business and not overdue to the
     extent such current accounts payable are in excess of $10,750.

          (i) PROHIBITION ON ADDITIONAL NEGATIVE PLEDGES. No Loan Party will
     enter into or assume any agreement (other than this Agreement and the other
     Transaction Documents) prohibiting the creation or assumption of any
     Adverse Claim upon the Collateral except as contemplated by the Transaction
     Documents, or otherwise prohibiting or restricting any Transaction, and no
     Loan Party will enter into or assume any agreement creating any Adverse
     Claim (except for those created under the Transaction Documents) upon the
     Subordinated Notes.

                                  ARTICLE VIII

                          ADMINISTRATION AND COLLECTION

     Section 8.1 DESIGNATION OF SERVICER.

          (a) The servicing, administration and collection of the Receivables
     shall be conducted by such Person (the "SERVICER") so designated from time
     to time in accordance with this Section 8.1. Spherion is hereby designated
     as, and hereby agrees to perform the duties and obligations of, the
     Servicer pursuant to the terms of this Agreement. The Administrative Agent
     may at any time after an Unmatured Amortization Event or an Amortization
     Event designate as Servicer any Person to succeed Spherion or any successor
     Servicer PROVIDED THAT the Rating Agency Condition is satisfied.

          (b) Spherion may delegate, and Spherion hereby advises the Lenders and
     the Administrative Agent that it has delegated, to the other Originators,
     as sub-servicers of the Servicer, certain of Spherion duties and
     responsibilities as Servicer hereunder in respect of the Receivables
     originated by such other Originator. Without the prior consent of the
     Administrative Agent and the Required Liquidity Banks, Spherion shall not
     be permitted to delegate any of its duties or responsibilities as Servicer
     to any Person other

                                       23
<Page>

     than (i) Borrower, (ii) the other Originators, and (iii) with respect to
     certain Defaulted Receivables, outside collection agencies in accordance
     with its customary practices. Neither Borrower nor any Originator shall be
     permitted to further delegate to any other Person any of the duties or
     responsibilities of the Servicer delegated to it by Spherion. If at any
     time the Administrative Agent shall designate as Servicer any Person other
     than Spherion, all duties and responsibilities theretofore delegated by
     Spherion to Borrower or the other Originators may, at the discretion of the
     Administrative Agent, be terminated forthwith on notice given by the
     Administrative Agent to Spherion and to Borrower and the other Originators.

          (c) Notwithstanding the foregoing subsection (b): (i) Spherion shall
     be and remain primarily liable to the Administrative Agent and the Lenders
     for the full and prompt performance of all duties and responsibilities of
     the Servicer hereunder and (ii) the Administrative Agent and the Lenders
     shall be entitled to deal exclusively with Spherion in matters relating to
     the discharge by the Servicer of its duties and responsibilities hereunder.
     The Administrative Agent and the Lenders shall not be required to give
     notice, demand or other communication to any Person other than Spherion for
     communication to the Servicer and its sub-servicer or other delegate with
     respect thereto to be accomplished. Spherion, at all times that it is the
     Servicer, shall be responsible for providing any sub-servicer or other
     delegate of the Servicer with any notice given to the Servicer under this
     Agreement.

     Section 8.2 DUTIES OF SERVICER.

          (a) The Servicer shall take or cause to be taken all such actions as
     may be necessary or advisable to collect each Receivable from time to time,
     all in accordance with applicable laws, rules and regulations, with
     reasonable care and diligence, and in accordance with the Credit and
     Collection Policy.

          (b) The Servicer will instruct all Obligors to pay all Collections
     directly to a Lock-Box or Collection Account. The Servicer shall effect a
     Collection Account Agreement substantially in the form of Exhibit VI with
     each bank party to a Collection Account at any time. In the case of any
     remittances received in any Lock-Box or Collection Account that shall have
     been identified, to the satisfaction of the Servicer, to not constitute
     Collections or other proceeds of the Receivables or the Related Security,
     the Servicer shall promptly remit such items to the Person identified to it
     as being the owner of such remittances. From and after the date the
     Administrative Agent delivers to any Collection Bank a Collection Notice
     pursuant to Section 8.3, the Administrative Agent may request that the
     Servicer, and the Servicer thereupon promptly shall instruct all Obligors
     with respect to the Receivables, to remit all payments thereon to a new
     depositary account specified by the Administrative Agent and, at all times
     thereafter, Borrower and the Servicer shall not deposit or otherwise
     credit, and shall not permit any other Person to deposit or otherwise
     credit to such new depositary account any cash or payment item other than
     Collections.

          (c) The Servicer shall administer the Collections in accordance with
     the procedures described in this Article VIII and in Article II. The
     Servicer shall set aside

                                       24
<Page>

     and hold in trust for the account of Borrower and the Lenders their
     respective shares of the Collections in accordance with Article II. The
     Servicer shall, upon the request of the Administrative Agent, segregate, in
     a manner acceptable to the Administrative Agent, all cash, checks and other
     instruments received by the Servicer from time to time constituting
     Collections from the general funds of the Servicer or Borrower prior to the
     remittance thereof in accordance with Article II. If the Servicer shall be
     required to segregate Collections pursuant to the preceding sentence, the
     Servicer shall segregate and deposit with a bank designated by the
     Administrative Agent such allocable share of Collections of Receivables set
     aside for the Lenders on the first Business Day following receipt by the
     Servicer of such Collections, duly endorsed or with duly executed
     instruments of transfer.

          (d) The Servicer may, in accordance with the Credit and Collection
     Policy, extend the maturity of any Receivable or adjust the Outstanding
     Balance of any Receivable as the Servicer determines to be appropriate to
     maximize Collections thereof; PROVIDED, HOWEVER, that such extension or
     adjustment shall not alter the status of such Receivable as a Delinquent
     Receivable or Defaulted Receivable or limit the rights of the
     Administrative Agent or the Lenders under this Agreement. Notwithstanding
     anything to the contrary contained herein, the Administrative Agent shall
     have the absolute and unlimited right to direct the Servicer to commence or
     settle any legal action with respect to any Receivable or to foreclose upon
     or repossess any Related Security.

          (e) The Servicer shall hold in trust for Borrower and the Lenders all
     Records that (i) evidence or relate to the Receivables, the related
     Contracts and Related Security or (ii) are otherwise necessary or desirable
     to collect the Receivables and shall, as soon as practicable upon demand of
     the Administrative Agent, deliver or make available to the Administrative
     Agent all such Records, at a place selected by the Administrative Agent.
     The Servicer shall, as soon as practicable following receipt thereof turn
     over to Borrower any cash collections or other cash proceeds received with
     respect to Indebtedness not constituting Receivables. The Servicer shall,
     from time to time at the request of any Lender, furnish to the Lenders
     (promptly after any such request) a calculation of the amounts set aside
     for the Lenders pursuant to Article II.

          (f) Any payment by an Obligor in respect of any indebtedness owed by
     it to Originator or Borrower shall, except as otherwise specified by such
     Obligor or otherwise required by contract or law and unless otherwise
     instructed by the Administrative Agent, be applied as a Collection of any
     Receivable of such Obligor (starting with the oldest such Receivable) to
     the extent of any amounts then due and payable thereunder before being
     applied to any other receivable or other obligation of such Obligor.

     Section 8.3 COLLECTION NOTICES. The Administrative Agent is authorized at
any time to date and to deliver to the Collection Banks the Collection Notices.
Borrower hereby transfers to the Administrative Agent for the benefit of the
Lenders, effective when the Administrative Agent delivers such notice, the
exclusive ownership and control of each Lock-Box and the Collection Accounts. If
any authorized signatory of Borrower whose signature appears on a Collection
Account Agreement shall cease to have such authority before the delivery of such
notice, such Collection Notice shall nevertheless be valid as if such authority
had remained in force.

                                       25
<Page>

Borrower hereby authorizes the Administrative Agent, and agrees that the
Administrative Agent shall be entitled (i) at any time after delivery of the
Collection Notices, to endorse Borrower's name on checks and other instruments
representing Collections, (ii) at any time after the occurrence of an
Amortization Event, to enforce the Receivables, the related Contracts and the
Related Security, and (iii) at any time after the occurrence of an Amortization
Event, to take such action as shall be necessary or desirable to cause all cash,
checks and other instruments constituting Collections of Receivables to come
into the possession of the Administrative Agent rather than Borrower.

     Section 8.4 RESPONSIBILITIES OF BORROWER. Anything herein to the contrary
notwithstanding, the exercise by the Administrative Agent and the Lenders of
their rights hereunder shall not release the Servicer, any Originator or
Borrower from any of their duties or obligations with respect to any Receivables
or under the related Contracts. The Lenders shall have no obligation or
liability with respect to any Receivables or related Contracts, nor shall any of
them be obligated to perform the obligations of Borrower.

     Section 8.5 MONTHLY REPORTS. The Servicer shall prepare and forward to the
Administrative Agent (a) on each Monthly Reporting Date, a Monthly Report and an
electronic file of the data contained therein and (b) at such times as the
Administrative Agent shall request, a listing by Obligor of all Receivables
together with an aging of such Receivables; provided, however, that if an
Amortization Event shall exist and be continuing, the Administrative Agent may
request an Interim Report be prepared and forwarded to the Administrative Agent
more frequently than monthly.

     Section 8.6 SERVICING FEE. As compensation for the Servicer's servicing
activities on their behalf, the Lenders hereby agree to pay the Servicer the
Servicing Fee, which fee shall be paid in arrears on each Settlement Date.

                                   ARTICLE IX

                               AMORTIZATION EVENTS

     Section 9.1 AMORTIZATION EVENTS. The occurrence of any one or more of the
following events shall constitute an Amortization Event:

          (a) Any Loan Party or Performance Guarantor shall fail to make any
     payment or deposit required to be made by it under the Transaction
     Documents when due PROVIDED, HOWEVER, that no Amortization Event shall
     occur under this Section 9.1(a) as a result of any late payment or deposit
     which is cured within one Business day if (1) such late payment or deposit
     was due to circumstances beyond such Loan Party's or Performance
     Guarantor's control, (2) such late payments or deposits do not occur more
     than two times in any calendar year, and (3) such Loan Party or Performance
     Guarantor pays interest on the overdue amount of such payment or deposit
     until paid at the Default Rate.

          (b) Any representation, warranty, certification or statement made by
     Performance Guarantor or any Loan Party in any Transaction Document to
     which it is a

                                       26
<Page>

     party or in any other document delivered pursuant thereto shall prove to
     have been incorrect in any material respect when made or deemed made.

          (c) Any Loan Party shall fail to perform or observe any covenant
     contained in Section 7.2 or 8.5 when due.

          (d) Any Loan Party or Performance Guarantor shall fail to perform or
     observe any other covenant or agreement under any Transaction Documents and
     such failure shall continue for 10 consecutive Business Days.

          (e) Failure of Borrower to pay any Indebtedness (other than the
     Obligations) when due or the default by Borrower in the performance of any
     term, provision or condition contained in any agreement under which any
     such Indebtedness was created or is governed, the effect of which is to
     cause, or to permit the holder or holders of such Indebtedness to cause,
     such Indebtedness to become due prior to its stated maturity; or any such
     Indebtedness of Borrower shall be declared to be due and payable or
     required to be prepaid (other than by a regularly scheduled payment) prior
     to the date of maturity thereof.

          (f) Failure of Performance Guarantor to pay Indebtedness in excess of
     $5,000,000 in aggregate principal amount (hereinafter, "MATERIAL
     INDEBTEDNESS") when due; or the default by Performance Guarantor in the
     performance of any term, provision or condition contained in any agreement
     under which any Material Indebtedness was created or is governed, the
     effect of which is to cause, or to permit the holder or holders of such
     Material Indebtedness to cause, such Material Indebtedness to become due
     prior to its stated maturity; or any Material Indebtedness of Performance
     Guarantor shall be declared to be due and payable or required to be prepaid
     (other than by a regularly scheduled payment) prior to the date of maturity
     thereof.

          (g) An Event of Bankruptcy shall occur with respect to Performance
     Guarantor, any Loan Party or any of their respective Material Subsidiaries.

          (h) As at the end of any Calculation Period:

               (i) the three-month rolling average Delinquency Ratio shall
          exceed 3.70%,

               (ii) the three-month rolling average Default Ratio shall exceed
          3.125%, or

               (iii) the three-month rolling average Dilution Ratio shall exceed
          4.75%.

          (i) A Change of Control shall occur.

          (j) (i) One or more final judgments for the payment of money in an
     aggregate amount of $10,750 or more shall be entered against Borrower or
     (ii) one or more final judgments for the payment of money in an amount in
     excess of $5,000,000, individually

                                       27
<Page>

     or in the aggregate, shall be entered against Performance Guarantor or any
     of its Material Subsidiaries (other than Borrower) on claims not covered by
     insurance or as to which the insurance carrier has denied its
     responsibility, and such judgment shall continue unsatisfied and in effect
     for thirty (30) consecutive days without a stay of execution.

          (k) The "TERMINATION DATE" under and as defined in the Receivables
     Sale Agreement shall occur under the Receivables Sale Agreement or any
     Originator shall for any reason cease to transfer, or cease to have the
     legal capacity to transfer, or otherwise be incapable of transferring
     Receivables to Borrower under the Receivables Sale Agreement.

          (l) This Agreement shall terminate in whole or in part (except in
     accordance with its terms), or shall cease to be effective or to be the
     legally valid, binding and enforceable obligation of Borrower, or any
     Obligor shall directly or indirectly contest in any manner such
     effectiveness, validity, binding nature or enforceability, or the
     Administrative Agent for the benefit of the Lenders shall cease to have a
     valid and perfected first priority security interest in the Collateral.

          (m) On any Settlement Date, after giving effect to the turnover of
     Collections by the Servicer on such date and the application thereof to the
     Obligations in accordance with this Agreement, the Aggregate Principal
     shall exceed the Borrowing Limit.

          (n) The Performance Undertaking shall cease to be effective or to be
     the legally valid, binding and enforceable obligation of Performance
     Guarantor, or Performance Guarantor shall directly or indirectly contest in
     any manner such effectiveness, validity, binding nature or enforceability
     of its obligations thereunder.

          (o) The Internal Revenue Service shall file notice of a lien pursuant
     to Section 6323 of the Tax Code with regard to any of the Collateral and
     such lien shall not have been released within seven (7) days, or the PBGC
     shall, or shall indicate its intention to, file notice of a lien pursuant
     to Section 4068 of ERISA with regard to any of the Collateral.

          (p) Any Plan of Performance Guarantor or any of its ERISA Affiliates:

               (i) shall fail to be funded in accordance with the minimum
          funding standard required by applicable law, the terms of such Plan,
          Section 412 of the Tax Code or Section 302 of ERISA for any plan year
          or a waiver of such standard is sought or granted with respect to such
          Plan under applicable law, the terms of such Plan or Section 412 of
          the Tax Code or Section 303 of ERISA; or

               (ii) is being, or has been, terminated or the subject of
          termination proceedings under applicable law or the terms of such
          Plan; or

               (iii) shall require Performance Guarantor or any of its ERISA
          Affiliates to provide security under applicable law, the terms of such
          Plan, Section 401 or 412 of the Tax Code or Section 306 or 307 of
          ERISA; or

                                       28
<Page>

               (iv) results in a liability to Performance Guarantor or any of
          its ERISA Affiliates under applicable law, the terms of such Plan, or
          Title IV ERISA,

         and there shall result from any such failure, waiver, termination or
         other event a liability to the PBGC or a Plan that would have a
         Material Adverse Effect.

          (q) Any event shall occur which (i) materially and adversely impairs
     the ability of the Originators to originate Receivables of a credit quality
     that is at least equal to the credit quality of the Receivables sold or
     contributed to Borrower on the date of this Agreement or (ii) has, or would
     be reasonably expected to have a Material Adverse Effect.

          (r) The sum of (1) cash and Cash Equivalents as shown on the
     consolidated balance sheet of the Parent and its Subsidiaries (other than
     cash and Cash Equivalents which are pledged or otherwise encumbered) as of
     the most recent Cut-Off Date and (2) the difference between (A) the
     Borrowing Limit and (B) the Aggregate Principal is less than $25,000,000.

     Section 9.2 REMEDIES. Upon the occurrence and during the continuation of an
Amortization Event, the Administrative Agent may, or upon the direction of the
Required Liquidity Banks shall, take any of the following actions: (i) replace,
if the Administrative Agent has not already done so, the Person then acting as
Servicer, (ii) declare the Amortization Date to have occurred, whereupon the
Aggregate Commitment shall immediately terminate and the Amortization Date shall
forthwith occur, all without demand, protest or further notice of any kind, all
of which are hereby expressly waived by each Loan Party; PROVIDED, HOWEVER, that
upon the occurrence of an Event of Bankruptcy with respect to any Loan Party,
the Amortization Date shall automatically occur, without demand, protest or any
notice of any kind, all of which are hereby expressly waived by each Loan Party,
(iii) deliver the Collection Notices to the Collection Banks, (iv) exercise all
rights and remedies of a secured party upon default under the UCC and other
applicable laws, and (v) notify Obligors of the Administrative Agent's security
interest in the Receivables and other Collateral. The aforementioned rights and
remedies shall be without limitation, and shall be in addition to all other
rights and remedies of the Administrative Agent and the Lenders otherwise
available under any other provision of this Agreement, by operation of law, at
equity or otherwise, all of which are hereby expressly preserved, including all
rights and remedies provided under the UCC, all of which rights shall be
cumulative.

                                   ARTICLE X

                                 INDEMNIFICATION

     Section 10.1 INDEMNITIES BY THE LOAN PARTIES. Without limiting any other
rights that the Administrative Agent or any Lender may have hereunder or under
applicable law, (a) Borrower hereby agrees to indemnify (and pay upon demand to)
the Administrative Agent, Blue Ridge, each of the Liquidity Banks and each of
the respective assigns, officers, directors, agents and employees of the
foregoing (each, an "INDEMNIFIED PARTY") from and against any and all damages,
losses, claims, taxes, liabilities, costs, expenses and for all other amounts
payable, including reasonable attorneys' fees and disbursements (all of the
foregoing being collectively

                                       29
<Page>

referred to as "INDEMNIFIED AMOUNTS") awarded against or incurred by any of them
to the extent arising out of or as a result of this Agreement or the
acquisition, either directly or indirectly, by a Lender of an interest in the
Receivables, and (b) the Servicer hereby agrees to indemnify (and pay upon
demand to) each Indemnified Party for Indemnified Amounts awarded against or
incurred by any of them arising out of the Servicer's activities as Servicer
hereunder EXCLUDING, HOWEVER, in all of the foregoing instances under the
preceding clauses (a) and (b):

               (i) Indemnified Amounts to the extent a final judgment of a court
          of competent jurisdiction holds that such Indemnified Amounts resulted
          from gross negligence or willful misconduct on the part of the
          Indemnified Party seeking indemnification;

               (ii) Indemnified Amounts to the extent the same includes losses
          in respect of Receivables that are uncollectible on account of the
          financial inability to pay, insolvency, bankruptcy or lack of
          creditworthiness of the related Obligor; or

               (iii) taxes imposed by the jurisdiction in which such Indemnified
          Party's principal executive office is located, on or measured by the
          overall net income of such Indemnified Party to the extent that the
          computation of such taxes is consistent with the characterization for
          income tax purposes of the acquisition by the Lenders of Loans as a
          loan or loans by the Lenders to Borrower secured by the Receivables,
          the Related Security, the Collection Accounts and the Collections;

PROVIDED, HOWEVER, that nothing contained in this sentence shall limit the
liability of any Loan Party or limit the recourse of the Lenders to any Loan
Party for amounts otherwise specifically provided to be paid by such Loan Party
under the terms of this Agreement. Without limiting the generality of the
foregoing indemnification, Borrower shall indemnify (without duplication) the
Administrative Agent and the Lenders for Indemnified Amounts (including losses
in respect of uncollectible receivables, regardless of whether reimbursement
therefor would constitute recourse to Borrower or the Servicer) relating to or
resulting from:

                    (A) any representation or warranty made or deemed made by
               any Loan Party or any Originator (or any officers of any such
               Person) pursuant this Agreement, any other Transaction Document
               or any other information or report delivered by any such Person
               pursuant hereto or thereto, which shall have been false or
               incorrect when made or deemed made;

                    (B) the failure by Borrower, the Servicer or any Originator
               to comply with any applicable law, rule or regulation with
               respect to any Receivable or Contract related thereto, or the
               nonconformity of any Receivable or Contract included therein with
               any such applicable law, rule or regulation or any failure of any
               Originator to keep or perform any of its obligations, express or
               implied, with respect to any Contract;

                                       30
<Page>

                    (C) any failure of Borrower, the Servicer or any Originator
               to perform its duties, covenants or other obligations in
               accordance with this Agreement or any other Transaction Document;

                    (D) any products liability, personal injury or damage suit,
               or other similar claim arising out of or in connection with
               merchandise, insurance or services that are the subject of any
               Contract or any Receivable;

                    (E) any dispute, claim, offset or defense (other than
               discharge in bankruptcy of the Obligor) of the Obligor to the
               payment of any Receivable (including a defense based on such
               Receivable or the related Contract not being a legal, valid and
               binding obligation of such Obligor enforceable against it in
               accordance with its terms), or any other claim resulting from the
               sale of the merchandise or service related to such Receivable or
               the furnishing or failure to furnish such merchandise or
               services;

                    (F) the commingling of Collections of Receivables at any
               time with other funds;

                    (G) any investigation, litigation or proceeding related to
               or arising from this Agreement or any other Transaction Document,
               the Transactions, the use of the proceeds of any Advance, the
               Collateral or any other investigation, litigation or proceeding
               relating to Borrower, the Servicer or any Originator in which any
               Indemnified Party becomes involved as a result of any of the
               Transactions;

                    (H) any inability to litigate any claim against any Obligor
               in respect of any Receivable as a result of such Obligor being
               immune from civil and commercial law and suit on the grounds of
               sovereignty or otherwise from any legal action, suit or
               proceeding;

                    (I) any Amortization Event;

                    (J) any failure of Borrower to acquire and maintain legal
               and equitable title to, and ownership of any of the Collateral
               from the applicable Originator, free and clear of any Adverse
               Claim (except as created by the Transaction Documents); or any
               failure of Borrower to give reasonably equivalent value to any
               Originator under the Receivables Sale Agreement in consideration
               of the transfer by such Originator of any Receivable, or any
               attempt by any Person to void such transfer under statutory
               provisions or common law or equitable action;

                    (K) any failure to vest and maintain vested in the
               Administrative Agent for the benefit of the Lenders, or to
               transfer to the Administrative Agent for the benefit of the
               Secured Parties, a valid first

                                       31
<Page>

               priority perfected security interests in the Collateral, free and
               clear of any Adverse Claim (except as created by the Transaction
               Documents);

                    (L) the failure to have filed, or any delay in filing,
               financing statements or other similar instruments or documents
               under the UCC of any applicable jurisdiction or other applicable
               laws with respect to any Collateral, and the proceeds thereof,
               whether at the time of any Advance or at any subsequent time;

                    (M) any action or omission by any Loan Party which reduces
               or impairs the rights of the Administrative Agent or the Lenders
               with respect to any Collateral or the value of any Collateral;

                    (N) any successful attempt by any Person to void any Advance
               or the Administrative Agent's security interest in the Collateral
               under statutory provisions or common law or equitable action; and

                    (O) the failure of any Receivable included in the
               calculation of the Net Pool Balance as an Eligible Receivable to
               be an Eligible Receivable at the time so included.

     Section 10.2 INCREASED COST AND REDUCED RETURN.

          (a) If any Regulatory Change or Accounting Change occurring after the
     date hereof:

               (i) shall subject a Funding Source to any tax, duty or other
          charge with respect to its obligations hereunder or under any Funding
          Agreement, its Commitment or its Liquidity Commitment, or shall change
          the basis of taxation of payments to the Funding Source of any
          Obligations, owed to or funded or maintained in whole or in part by it
          or any other amounts due under this Agreement in respect of its
          Obligations or, as applicable, its Commitment or its Liquidity
          Commitment; or

               (ii) shall impose, modify or deem applicable any reserve, special
          deposit or similar requirement against assets of any Funding Source,
          deposits or obligations with or for the account of any Funding Source
          or with or for the account of any Affiliate (or entity deemed by the
          Federal Reserve Board to be an Affiliate) of any Funding Source, or
          credit extended by any Funding Source pursuant to this Agreement or a
          Funding Agreement, as applicable; or

               (iii) shall affect the amount of capital required or expected to
          be maintained by any Funding Source (including because the assets and
          liabilities of Blue Ridge are thereafter required to be consolidated
          with those of any Liquidating Bank); or

               (iv) shall impose any other condition affecting any obligation
          owned, funded or maintained in whole or in part by any Funding Source,
          or its rights or obligations, if any, to make Loans or Liquidity
          Fundings or to provide (or participate in) the funding or maintenance
          thereof; or

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               (v) shall change the rate for, or the manner in which the Federal
          Deposit Insurance Corporation (or a successor thereto) assesses
          deposit insurance premiums or similar charges;

and the result of any of the foregoing is or would be:

          (i) to increase the cost to or to impose a cost on (1) a Funding
     Source funding or making or maintaining (or providing or agreeing to
     provide funding for) any Loan, any Liquidity Funding or loans or other
     extensions of credit under any Funding Agreement or any commitment of such
     Funding Source with respect to any of the foregoing, or (2) the
     Administrative Agent for continuing its or Borrower's relationship with any
     Funding Source, in each case, in an amount deemed to be material by such
     Funding Source,

          (ii) to reduce the amount of any sum received or receivable by a
     Funding Source under this Agreement or under any Liquidity Agreement, or

          (iii) to reduce the rate of return on such Funding Source's capital as
     a consequence of its Obligations, its Commitment, its Liquidity Commitment,
     its obligations under any Funding Agreement or the Loans made by it or
     otherwise arising in connection herewith (or therewith) to a level below
     that which such Funding Source could have achieved but for the occurrence
     of such circumstances,

then, within 15 days after demand by such Funding Source (which demand shall be
accompanied by a certificate setting forth the basis of such demand, Borrower
shall pay directly to such Funding Source such additional amount or amounts as
will compensate such Funding Source for such actual additional cost, increased
cost or reduction.

          (b) Each Funding Source will promptly notify Borrower and the
     Administrative Agent of any event of which it has knowledge which will
     entitle such Funding Source to compensation pursuant to this Section 10.2;
     PROVIDED, HOWEVER, no failure to give or delay in giving such notification
     shall adversely affect the rights of any Funding Source to such
     compensation.

          (c) In determining any amount provided for or referred to in this
     Section 10.2, a Funding Source may use any reasonable averaging and
     attribution methods that it (in its sole discretion) shall deem applicable.
     Any Funding Source when making a claim under this Section 10.2 shall submit
     to Borrower the above-referenced certificate as to such actual increased
     cost or actual reduced return (including calculation thereof in reasonable
     detail), which shall, in the absence of manifest error, be conclusive and
     binding upon Borrower.

     Section 10.3 FUNDING LOSSES. If any Funding Source shall incur any loss or
expense (including any loss or expense incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by such Funding Source, then,
upon notice from such Funding Source to the Administrative Agent, Borrower and
the Servicer, Borrower shall pay to the Servicer, and the Servicer shall pay to
such Funding Sources upon demand, the amount of such loss or expense (which
shall include without limitation all Broken Funding Costs). Such notice (which
shall include the methodology for calculating, and the calculation of, the
amount of such actual loss or

                                       33
<Page>

expense, in reasonable detail) shall, in the absence of manifest error, be
conclusive and binding upon Borrower and the Servicer.

     Section 10.4 OTHER COSTS AND EXPENSES. Borrower shall pay to the
Administrative Agent and Blue Ridge on demand all costs and out-of-pocket
expenses in connection with the preparation, execution, delivery and
administration of this Agreement, the Transactions and the other documents to be
delivered hereunder, including without limitation, the cost of Blue Ridge's
auditors auditing the books, records and procedures of Borrower, reasonable fees
and out-of-pocket expenses of legal counsel for Blue Ridge and the
Administrative Agent with respect thereto and with respect to advising Blue
Ridge and the Administrative Agent as to their respective rights and remedies
under this Agreement. Borrower shall pay to the Administrative Agent on demand
any and all costs and expenses of the Administrative Agent and the Lenders, if
any, including reasonable counsel fees and expenses in connection with the
enforcement of this Agreement and the other documents delivered hereunder and in
connection with any restructuring or workout of this Agreement or such
documents, or the administration of this Agreement following an Amortization
Event. Borrower shall reimburse Blue Ridge on demand for all other costs and
expenses incurred by Blue Ridge ("OTHER COSTS"), including the cost of auditing
Blue Ridge's books by certified public accountants, the cost of rating the
Commercial Paper by independent financial rating agencies, and the reasonable
fees and out-of-pocket expenses of counsel for Blue Ridge or any counsel for any
shareholder of Blue Ridge with respect to advising Blue Ridge or such
shareholder as to matters relating to Blue Ridge's operations.

     Section 10.5 ALLOCATIONS. Blue Ridge shall allocate the liability for Other
Costs among Borrower and other Persons with whom Blue Ridge has entered into
agreements to purchase interests in or finance receivables and other financial
assets ("OTHER CUSTOMERS"). If any Other Costs are attributable to Borrower and
not attributable to any Other Customer, Borrower shall be solely liable for such
Other Costs. However, if Other Costs are attributable to Other Customers and not
attributable to Borrower, such Other Customer shall be solely liable for such
Other Costs. All allocations to be made pursuant to the foregoing provisions of
this Article X shall be made by Blue Ridge in its sole discretion and shall be
binding on Borrower and the Servicer.

                                   ARTICLE XI

                                    THE AGENT

     Section 11.1 AUTHORIZATION AND ACTION. Each Lender hereby designates and
appoints Wachovia to act as its agent under the Transaction Documents and under
the Liquidity Agreement, and authorizes the Administrative Agent to take such
actions as agent on its behalf and to exercise such powers as are delegated to
the Administrative Agent by the terms of the Liquidity Agreement or the
Transaction Documents, together with such powers as are reasonably incidental
thereto. The Administrative Agent shall not have any duties or responsibilities,
except those expressly set forth in the Liquidity Agreement or in any
Transaction Document, or any fiduciary relationship with any Lender, and no
implied covenants, functions, responsibilities, duties, obligations or
liabilities on the part of the Administrative Agent shall be read into the
Liquidity Agreement or any Transaction Document or otherwise exist for the
Administrative Agent. In performing its functions and duties under the Liquidity
Agreement and the

                                       34
<Page>

Transaction Documents, the Administrative Agent shall act solely as agent for
the Lenders and does not assume nor shall be deemed to have assumed any
obligation or relationship of trust or agency with or for any Loan Party or any
of such Loan Party's successors or assigns. The Administrative Agent shall not
be required to take any action that exposes the Administrative Agent to personal
liability or that is contrary to the Liquidity Agreement or any Transaction
Document or applicable law. The appointment and authority of the Administrative
Agent hereunder shall terminate upon the indefeasible payment in full of all
Obligations. Each Lender hereby authorizes the Administrative Agent to execute
each of the UCC financing statements and each Collection Account Agreement on
behalf of such Lender (the terms of which shall be binding on such Lender).

     Section 11.2 DELEGATION OF DUTIES. The Administrative Agent may execute any
of its duties under the Liquidity Agreement and each Transaction Document by or
through agents or attorneys-in-fact and shall be entitled to advice of counsel
concerning all matters pertaining to such duties. The Administrative Agent shall
not be responsible for the negligence or misconduct of any agents or
attorneys-in-fact selected by it with reasonable care.

     Section 11.3 EXCULPATORY PROVISIONS. Neither the Administrative Agent nor
any of its directors, officers, agents or employees shall be (i) liable for any
action lawfully taken or omitted to be taken by it or them under or in
connection with the Liquidity Agreement or any Transaction Document (except for
its, their or such Person's own gross negligence or willful misconduct), or (ii)
responsible in any manner to any of the Lenders for any recitals, statements,
representations or warranties made by any Loan Party contained in the Liquidity
Agreement, any Transaction Document or any certificate, report, statement or
other document referred to or provided for in, or received under or in
connection with, any Transaction Document or for the value, validity,
effectiveness, genuineness, enforceability or sufficiency of the Liquidity
Agreement or any Transaction Document or any other document furnished in
connection therewith, or for any failure of any Loan Party to perform its
obligations under any Transaction Document, or for the satisfaction of any
condition specified in Article VI, or for the perfection, priority, condition,
value or sufficiency of any collateral pledged in connection herewith. The
Administrative Agent shall not be under any obligation to any Lender to
ascertain or to inquire as to the observance or performance of any of the
agreements or covenants contained in, or conditions of, any Transaction
Document, or to inspect the properties, books or records of the Loan Parties.
The Administrative Agent shall not be deemed to have knowledge of any
Amortization Event or Unmatured Amortization Event unless the Administrative
Agent has received notice from a Loan Party or a Lender.

     Section 11.4 RELIANCE BY ADMINISTRATIVE AGENT. The Administrative Agent
shall in all cases be entitled to rely, and shall be fully protected in relying,
upon any document or conversation believed by it to be genuine and correct and
to have been signed, sent or made by the proper Person or Persons and upon
advice and statements of legal counsel (including counsel to Borrower),
independent accountants and other experts selected by the Administrative Agent.
The Administrative Agent shall in all cases be fully justified in failing or
refusing to take any action under the Liquidity Agreement or any Transaction
Document unless it shall first receive such advice or concurrence of Blue Ridge
or the Required Liquidity Banks or all of the Lenders, as applicable, as it
deems appropriate and it shall first be indemnified to its satisfaction by the
Lenders, PROVIDED THAT unless and until the Administrative Agent shall have
received such

                                       35
<Page>

advice, the Administrative Agent may take or refrain from taking any action, as
the Administrative Agent shall deem advisable and in the best interests of the
Lenders. The Administrative Agent shall in all cases be fully protected in
acting, or in refraining from acting, in accordance with a request of Blue Ridge
or the Required Liquidity Banks or all of the Lenders, as applicable, and such
request and any action taken or failure to act pursuant thereto shall be binding
upon all the Lenders.

     Section 11.5 NON-RELIANCE ON ADMINISTRATIVE AGENT AND OTHER LENDERS. Each
Lender expressly acknowledges that neither the Administrative Agent, nor any of
its officers, directors, employees, agents, attorneys-in-fact or affiliates has
made any representations or warranties to it and that no act by the
Administrative Agent hereafter taken, including any review of the affairs of any
Loan Party, shall be deemed to constitute any representation or warranty by the
Administrative Agent. Each Lender represents and warrants to the Administrative
Agent that it has and will, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and
information as it has deemed appropriate, made its own appraisal of and
investigation into the business, operations, property, prospects, financial and
other conditions and creditworthiness of Borrower and made its own decision to
enter into the Liquidity Agreement, the Transaction Documents and all other
documents related thereto.

     Section 11.6 REIMBURSEMENT AND INDEMNIFICATION. The Liquidity Banks agree
to reimburse and indemnify the Administrative Agent and its officers, directors,
employees, representatives and agents ratably according to their Pro Rata
Shares, to the extent not paid or reimbursed by the Loan Parties (a) for any
amounts for which the Administrative Agent, acting in its capacity as
Administrative Agent, is entitled to reimbursement by the Loan Parties hereunder
and (b) for any other expenses incurred by the Administrative Agent, in its
capacity as Administrative Agent and acting on behalf of the Lenders, in
connection with the administration and enforcement of the Liquidity Agreement
and the Transaction Documents.

     Section 11.7 ADMINISTRATIVE AGENT IN ITS INDIVIDUAL CAPACITY. The
Administrative Agent and its Affiliates may make loans to, accept deposits from
and generally engage in any kind of business with Borrower or any Affiliate of
Borrower as though the Administrative Agent were not the Administrative Agent
hereunder. With respect to the making of Loans pursuant to this Agreement, the
Administrative Agent shall have the same rights and powers under the Liquidity
Agreement and this Agreement in its individual capacity as any Lender and may
exercise the same as though it were not the Administrative Agent, and the terms
"LIQUIDITY BANK," "LENDER," "LIQUIDITY BANKS" and "LENDERS" shall include the
Administrative Agent in its individual capacity.

     Section 11.8 SUCCESSOR ADMINISTRATIVE AGENT. The Administrative Agent, upon
five days' notice to the Loan Parties and the Lenders, may voluntarily resign
and may be removed at any time, with or without cause, by the Required Liquidity
Lenders; PROVIDED, HOWEVER, that Wachovia shall not voluntarily resign as the
Administrative Agent so long as any of the Liquidity Commitments remain in
effect or Blue Ridge has any outstanding Loans. If the Administrative Agent
(other than Wachovia) shall voluntarily resign or be removed as Administrative
Agent under this Agreement, then the Required Liquidity Lenders during such
five-day period shall appoint, with the consent of the Borrower from among the
remaining Liquidity Banks, a successor Administrative Agent, whereupon such
successor Administrative

                                       36
<Page>

Agent shall succeed to the rights, powers and duties of the Administrative
Agent and the term "ADMINISTRATIVE AGENT" shall mean such successor agent,
effective upon its appointment, and the former Administrative Agent's rights,
powers and duties as Administrative Agent shall be terminated, without any
other or further act or deed on the part of such former Administrative Agent
or any of the parties to this Agreement. Upon resignation or replacement of
any Administrative Agent in accordance with this Section 11.8, the retiring
Administrative Agent shall execute such UCC-3 assignments and amendments, and
assignments and amendments of the Liquidity Agreement and the Transaction
Documents, as may be necessary to give effect to its replacement by a
successor Administrative Agent. After any retiring Administrative Agent's
resignation hereunder as Administrative Agent, the provisions of this Article
XI and Article X shall inure to its benefit as to any actions taken or
omitted to be taken by it while it was Administrative Agent under this
Agreement.

                                  ARTICLE XII

                           ASSIGNMENTS; PARTICIPATIONS

     Section 12.1 ASSIGNMENTS.

          (a) Each of the Administrative Agent, the Loan Parties and the
     Liquidity Banks hereby agrees and consents to the complete or partial
     assignment by Blue Ridge of all or any portion of its rights under,
     interest in, title to and obligations under this Agreement to the Liquidity
     Banks pursuant to the Liquidity Agreement.

          (b) Any Liquidity Bank may at any time and from time to time assign to
     one or more Eligible Assignees (each, a "PURCHASING LIQUIDITY BANK") all or
     any part of its rights and obligations under this Agreement pursuant to an
     assignment agreement substantially in the form set forth in Exhibit VII (an
     "ASSIGNMENT AGREEMENT") executed by such Purchasing Liquidity Bank and such
     selling Liquidity Bank; PROVIDED, HOWEVER, that any assignment of a
     Liquidity Bank's rights and obligations hereunder shall include a pro rata
     assignment of its rights and obligations under the Liquidity Agreement. The
     consent of Blue Ridge shall be required prior to the effectiveness of any
     such assignment. Each assignee of a Liquidity Bank must (i) be an Eligible
     Assignee and (ii) agree to deliver to the Administrative Agent, promptly
     following any request therefor by the Administrative Agent or Blue Ridge,
     an enforceability opinion in form and substance satisfactory to the
     Administrative Agent and Blue Ridge. Upon delivery of an executed
     Assignment Agreement to the Administrative Agent, such selling Liquidity
     Bank shall be released from its obligations hereunder and under the
     Liquidity Agreement to the extent of such assignment. Thereafter the
     Purchasing Liquidity Bank shall for all purposes be a Liquidity Bank party
     to this Agreement and the Liquidity Agreement and shall have all the rights
     and obligations of a Liquidity Bank hereunder and thereunder to the same
     extent as if it were an original party hereto and thereto and no further
     consent or action by Borrower, the Lenders or the Administrative Agent
     shall be required.

          (c) Each of the Liquidity Banks agrees that if it shall suffer a
     Downgrading Event, such Downgraded Liquidity Bank shall be obliged, at the
     request of Blue Ridge or the Administrative Agent, to (i) collateralize its
     Commitment and its Liquidity

                                       37
<Page>

     Commitment in a manner acceptable to the Administrative Agent, or (ii)
     assign all of its rights and obligations hereunder and under the Liquidity
     Agreement to an Eligible Assignee nominated by the Administrative Agent or
     a Loan Party and acceptable to Blue Ridge and willing to participate in
     this Agreement and the Liquidity Agreement through the Liquidity
     Termination Date in the place of such Downgraded Liquidity Bank; PROVIDED
     THAT the Downgraded Liquidity Bank receives payment in full, pursuant to an
     Assignment Agreement, of an amount equal to such Liquidity Bank's Pro Rata
     Share of the Obligations owing to the Liquidity Banks.

          (d) Except in connection with a Permitted Restructuring, no Loan Party
     may assign any of its rights or obligations under this Agreement without
     the prior written consent of the Administrative Agent and each of the
     Lenders and without satisfying the Rating Agency Condition.

     Section 12.2 PARTICIPATIONS. Any Liquidity Bank may, in the ordinary course
of its business at any time sell to one or more Persons (each, a "PARTICIPANT")
participating interests in its Pro Rata Share of the Aggregate Commitment, its
Loans, its Liquidity Commitment or any other interest of such Liquidity Bank
hereunder or under the Liquidity Agreement. Notwithstanding any such sale by a
Liquidity Bank of a participating interest to a Participant, such Liquidity
Bank's rights and obligations under this Agreement and the Liquidity Agreement
shall remain unchanged, such Liquidity Bank shall remain solely responsible for
the performance of its obligations hereunder and under the Liquidity Agreement,
and the Loan Parties, Blue Ridge and the Administrative Agent shall continue to
deal solely and directly with such Liquidity Bank in connection with such
Liquidity Bank's rights and obligations under this Agreement and the Liquidity
Agreement. Each Liquidity Bank agrees that any agreement between such Liquidity
Bank and any such Participant in respect of such participating interest shall
not restrict such Liquidity Bank's right to agree to any amendment, supplement,
waiver or modification to this Agreement, except for any amendment, supplement,
waiver or modification described in Section 14.1(b)(i).

                                  ARTICLE XIII

                                SECURITY INTEREST

     Section 13.1 GRANT OF SECURITY INTEREST. To secure the due and punctual
payment of the Obligations, whether now or hereafter existing, due or to become
due, direct or indirect, or absolute or contingent, including all Indemnified
Amounts, in each case pro rata according to the respective amounts thereof, the
Borrower hereby grants to the Administrative Agent, for the benefit of the
Secured Parties, a security interest in, all of the Borrower's right, title and
interest, whether now owned and existing or hereafter arising in and to all of
the Receivables, the Related Security, the Collections and all proceeds of the
foregoing (collectively, the "COLLATERAL").

     Section 13.2 TERMINATION AFTER FINAL PAYOUT DATE. Each of the Secured
Parties hereby authorizes the Administrative Agent, and the Administrative Agent
hereby agrees, promptly after the Final Payout Date to execute and deliver to
the Borrower such UCC termination statements as may be necessary to terminate
the Administrative Agent's security interest in and lien upon the Collateral,
all at the Borrower's expense. Upon the Final Payout Date, all right, title and

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interest of the Administrative Agent and the other Secured Parties in and to the
Collateral shall terminate.

                                  ARTICLE XIV

                                  MISCELLANEOUS

     Section 14.1 WAIVERS AND AMENDMENTS.

          (a) No failure or delay on the part of the Administrative Agent, any
     Loan Party or any Lender in exercising any power, right or remedy under
     this Agreement shall operate as a waiver thereof, nor shall any single or
     partial exercise of any such power, right or remedy preclude any other
     further exercise thereof or the exercise of any other power, right or
     remedy. The rights and remedies herein provided shall be cumulative and
     nonexclusive of any rights or remedies provided by law. Any waiver of this
     Agreement shall be effective only in the specific instance and for the
     specific purpose for which given.

          (b) No provision of this Agreement may be amended, supplemented,
     modified or waived except in writing in accordance with this Section
     14.1(b). Blue Ridge, Borrower and the Administrative Agent, at the
     direction of the Required Liquidity Banks, may enter into written
     modifications or waivers of any provisions of this Agreement, PROVIDED,
     HOWEVER, that no such modification or waiver shall:

               (i) without the consent of each affected Lender, (1) extend the
          Liquidity Termination Date or the date of any payment or deposit of
          Collections by Borrower or the Servicer, (2) reduce the rate or extend
          the time of payment of Interest or any CP Costs (or any component of
          Interest or CP Costs), (3) reduce any fee payable to the
          Administrative Agent for the benefit of the Lenders, (4) except
          pursuant to Article XII, change the amount of the principal of any
          Lender, any Liquidity Bank's Pro Rata Share or any Liquidity Bank's
          Commitment, (5) amend, modify or waive any provision of the definition
          of Required Liquidity Banks or this Section 14.1(b), (6) consent to or
          permit the assignment or transfer by Borrower of any of its rights and
          obligations under this Agreement, (7) change the definition of
          "ELIGIBLE RECEIVABLE," "LOSS RESERVE," "DILUTION RESERVE," "YIELD
          RESERVE," "SERVICING RESERVE," "SERVICING FEE RATE," "REQUIRED
          RESERVE" or "REQUIRED RESERVE FACTOR FLOOR" or (8) amend or modify any
          defined term (or any defined term used directly or indirectly in such
          defined term) used in clauses (1) through (7) above in a manner that
          would circumvent the intention of the restrictions set forth in such
          clauses; or

               (ii) without the written consent of the then Administrative
          Agent, amend, modify or waive any provision of this Agreement if the
          effect thereof is to affect the rights or duties of such
          Administrative Agent,

AND ANY MATERIAL AMENDMENT, WAIVER OR OTHER MODIFICATION OF THIS AGREEMENT SHALL
REQUIRE SATISFACTION OF THE RATING AGENCY CONDITION. Notwithstanding the
foregoing, (i) without the

                                       39
<Page>

consent of the Liquidity Banks, but with the consent of Borrower, the
Administrative Agent may amend this Agreement solely to add additional Persons
as Liquidity Banks hereunder and (ii) the Administrative Agent, the Required
Liquidity Banks and Blue Ridge may enter into amendments to modify Article XI,
Article XII, Section 14.13 or any other provision of this Agreement without the
consent of Borrower, PROVIDED THAT such amendment has no negative affect upon
Borrower. Any modification or waiver made in accordance with this Section 14.1
shall apply to each of the Lenders equally and shall be binding upon Borrower,
the Lenders and the Administrative Agent.

     Section 14.2 NOTICES. Except as provided in this Section 14.2, all notices,
consents, approvals, demands and other communications provided for, permitted or
contemplated hereunder (including Sections 1.3, 7.2(a), 7.2(b), 8.1(b), 14.4(b))
shall be in writing (including bank wire, telecopy or electronic facsimile
transmission or similar writing) and shall be given to the other parties hereto
at their respective addresses or telecopy numbers set forth on the signature
pages hereof or at such other address or telecopy number as such Person may
hereafter specify for the purpose of notice to each of the other parties hereto.
Each such notice, consent, approval, demand or other communication shall be
effective (a) if given by telecopy, upon the receipt thereof, (b) if given by
mail (other than certified or registered mail), five Business Days after the
time such communication is deposited in the mail with first class postage
prepaid or (c) if given by any other means, when received at the address
specified in this Section 14.2. Borrower hereby authorizes the Administrative
Agent to effect Advances and Interest Period and Interest Rate selections based
on telephonic notices made by any Person whom the Administrative Agent in good
faith believes to be acting on behalf of Borrower. Borrower agrees to deliver
promptly to the Administrative Agent a written confirmation of each telephonic
notice signed by an authorized officer of Borrower; PROVIDED, HOWEVER, the
absence of such confirmation shall not affect the validity of such notice. If
the written confirmation differs from the action taken by the Administrative
Agent, the records of the Administrative Agent shall govern absent manifest
error.

     Section 14.3 RATABLE PAYMENTS. If any Lender, whether by setoff or
otherwise, has payment made to it with respect to any portion of the Obligations
owing to such Lender (other than payments received pursuant to Section 10.2 or
10.3) in a greater proportion than that received by any other Lender entitled to
receive a ratable share of such Obligations, such Lender agrees, promptly upon
demand, to purchase for cash without recourse or warranty a portion of such
Obligations held by the other Lenders so that after such purchase each Lender
will hold its ratable proportion of such Obligations; PROVIDED THAT if all or
any portion of such excess amount is thereafter recovered from such Lender, such
purchase shall be rescinded and the purchase price restored to the extent of
such recovery, but without interest.

     Section 14.4 PROTECTION OF ADMINISTRATIVE AGENT'S SECURITY INTEREST.

          (a) Borrower agrees that from time to time, at its expense, it will
     promptly execute and deliver all instruments and documents, and take all
     actions, that may be necessary or desirable, or that the Administrative
     Agent may request, to perfect, protect or more fully evidence the
     Administrative Agent's security interest in the Collateral, or to enable
     the Administrative Agent or the Lenders to exercise and enforce their
     rights and remedies hereunder. At any time after the occurrence of an
     Amortization Event, the

                                       40
<Page>

     Administrative Agent may, or the Administrative Agent may direct Borrower
     or the Servicer to, notify the Obligors of Receivables, at Borrower's
     expense, of the ownership or security interests of the Lenders under this
     Agreement and may also direct that payments of all amounts due or that
     become due under any or all Receivables be made directly to the
     Administrative Agent or its designee. Borrower or the Servicer (as
     applicable) shall, at any Lender's request, withhold the identity of such
     Lender in any such notification.

          (b) If any Loan Party fails to perform any of its obligations
     hereunder, the Administrative Agent or any Lender may (but shall not be
     required to) perform, or cause performance of, such obligations, and the
     Administrative Agent's or such Lender's costs and expenses incurred in
     connection therewith shall be payable by Borrower as provided in Section
     10.3. Each Loan Party irrevocably authorizes the Administrative Agent at
     any time and from time to time in the sole discretion of the Administrative
     Agent, and appoints the Administrative Agent as its attorney-in-fact, to
     act on behalf of such Loan Party (i) to execute on behalf of Borrower as
     debtor and to file financing statements necessary or desirable in the
     Administrative Agent's sole discretion to perfect and to maintain the
     perfection and priority of the interest of the Lenders in the Receivables
     and (ii) to file a carbon, photographic or other reproduction of this
     Agreement or any financing statement with respect to the Receivables as a
     financing statement in such offices as the Administrative Agent in its sole
     discretion deems necessary or desirable to perfect and to maintain the
     perfection and priority of the Administrative Agent's security interest in
     the Collateral, for the benefit of the Secured Parties. This appointment is
     coupled with an interest and is irrevocable. Each of the Loan Parties
     hereby: (i) authorizes the Administrative Agent to file financing
     statements and other filing or recording documents with respect to the
     Receivables and Related Security (including any amendments thereto, or
     continuation or termination statements thereof), without the signature or
     other authorization of such Loan Party, in such form and in such offices as
     the Administrative Agent reasonably determines appropriate to perfect or
     maintain the perfection of the security interest of the Administrative
     Agent hereunder, (ii) acknowledges and agrees that it is not authorized to,
     and will not, file financing statements or other filing or recording
     documents with respect to the Receivables or Related Security (including
     any amendments thereto, or continuation or termination statements thereof),
     without the express prior approval by the Administrative Agent, consenting
     to the form and substance of such filing or recording document, and (iii)
     approves, authorizes and ratifies any filings or recordings made by or on
     behalf of the Administrative Agent in connection with the perfection of the
     security interests in favor of Borrower or the Administrative Agent.

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<Page>

     Section 14.5 CONFIDENTIALITY.

          (a) Each Loan Party and each Lender shall maintain and shall cause
     each of its employees and officers to maintain the confidentiality of this
     Agreement and the other confidential or proprietary information with
     respect to the Administrative Agent and Blue Ridge and their respective
     businesses obtained by it or them in connection with the structuring,
     negotiating and execution of the Transactions, except that such Loan Party
     and such Lender and its officers and employees may disclose such
     information to such Loan Party's and such Lender's external accountants and
     attorneys and as required by any applicable law or order of any judicial or
     administrative proceeding.

          (b) Anything herein to the contrary notwithstanding, each Loan Party
     hereby consents to the disclosure of any nonpublic information with respect
     to it (i) to the Administrative Agent, the Liquidity Banks or Blue Ridge by
     each other, (ii) by the Administrative Agent or the Lenders to any
     prospective or actual assignee or participant of any of them and (iii) by
     the Administrative Agent to any rating agency, Commercial Paper dealer or
     provider of a surety, guaranty or credit or liquidity enhancement to Blue
     Ridge or any entity organized for the purpose of purchasing, or making
     loans secured by, financial assets for which Wachovia acts as the
     administrative agent and to any officers, directors, employees, outside
     accountants and attorneys of any of the foregoing, PROVIDED THAT each such
     Person is informed of the confidential nature of such information. In
     addition, the Lenders and the Administrative Agent may disclose any such
     nonpublic information pursuant to any law, rule, regulation, direction,
     request or order of any judicial, administrative or regulatory authority or
     proceedings (whether or not having the force or effect of law).

     Section 14.6 BANKRUPTCY PETITION. Borrower, the Servicer, the
Administrative Agent and each Liquidity Bank hereby covenants and agrees that,
prior to the date that is one year and one day after the payment in full of all
outstanding senior indebtedness of Blue Ridge, it will not institute against, or
join any other Person in instituting against, Blue Ridge any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings or other
similar proceeding under the laws of the United States or any state of the
United States.

     Section 14.7 LIMITATION OF LIABILITY. Except with respect to any claim
arising out of the willful misconduct or gross negligence of Blue Ridge, the
Administrative Agent or any Liquidity Bank, no claim may be made by any Loan
Party or any other Person against Blue Ridge, the Administrative Agent or any
Liquidity Bank or their respective Affiliates, directors, officers, employees,
attorneys or agents for any special, indirect, consequential or punitive damages
in respect of any claim for breach of contract or any other theory of liability
arising out of or related to the Transactions, or any act, omission or event
occurring in connection therewith; and each Loan Party hereby waives, releases,
and agrees not to sue upon any claim for any such damages, whether or not
accrued and whether or not known or suspected to exist in its favor.

     Section 14.8 CHOICE OF LAW. THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE
PRINCIPLES OF CONFLICTS OF LAWS THEREOF OTHER THAN SECTION 5-1401 OF THE GENERAL
OBLIGATIONS LAW (EXCEPT IN

                                       42
<Page>

THE CASE OF THE OTHER TRANSACTION DOCUMENTS, TO THE EXTENT OTHERWISE EXPRESSLY
STATED THEREIN) AND EXCEPT TO THE EXTENT THAT THE PERFECTION OF THE OWNERSHIP
INTEREST OF THE BORROWER OR THE SECURITY INTEREST OF THE AGENT, FOR THE BENEFIT
OF THE SECURED PARTIES, IN ANY OF THE COLLATERAL IS GOVERNED BY THE LAWS OF A
JURISDICTION OTHER THAN THE STATE OF NEW YORK.

     Section 14.9 CONSENT TO JURISDICTION. EACH PARTY TO THIS AGREEMENT HEREBY
IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES
FEDERAL OR NEW YORK STATE COURT SITTING IN NEW YORK, NEW YORK, IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY DOCUMENT EXECUTED
BY SUCH PERSON PURSUANT TO THIS AGREEMENT, AND EACH SUCH PARTY HEREBY
IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY
BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION
IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR
PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM.
NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE AGENT OR ANY LENDER TO BRING
PROCEEDINGS AGAINST ANY LOAN PARTY IN THE COURTS OF ANY OTHER JURISDICTION. ANY
JUDICIAL PROCEEDING BY ANY LOAN PARTY AGAINST THE AGENT OR ANY LENDER OR ANY
AFFILIATE OF THE AGENT OR ANY LENDER INVOLVING, DIRECTLY OR INDIRECTLY, ANY
MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT
OR ANY DOCUMENT EXECUTED BY SUCH LOAN PARTY PURSUANT TO THIS AGREEMENT SHALL BE
BROUGHT ONLY IN A COURT IN NEW YORK, NEW YORK.

     Section 14.10 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES TRIAL
BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER
(WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF,
RELATED TO, OR CONNECTED WITH THIS AGREEMENT, ANY DOCUMENT EXECUTED BY ANY LOAN
PARTY PURSUANT TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER OR
THEREUNDER.

     Section 14.11 INTEGRATION; BINDING EFFECT; SURVIVAL OF TERMS.

          (a) This Agreement and each other Transaction Document contain the
     final and complete integration of all prior expressions by the parties
     hereto with respect to the subject matter hereof and shall constitute the
     entire agreement among the parties hereto with respect to the subject
     matter hereof superseding all prior oral or written understandings.

          (b) This Agreement shall be binding upon and inure to the benefit of
     the parties hereto and their respective successors and permitted assigns
     (including any trustee in bankruptcy). This Agreement shall create and
     constitute the continuing obligations of the parties hereto in accordance
     with its terms and shall remain in full force and effect

                                       43
<Page>

     until terminated in accordance with its terms; PROVIDED, HOWEVER, that the
     rights and remedies with respect to (i) any breach of any representation
     and warranty made by any Loan Party pursuant to Article V, (ii) the
     indemnification and payment provisions of Article X, and Sections 14.5 and
     14.6 shall be continuing and shall survive any termination of this
     Agreement.

     Section 14.12 COUNTERPARTS; SEVERABILITY. This Agreement may be executed in
any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same
Agreement. Delivery of an executed counterpart of a signature page to this
Agreement by telecopier shall be effective as delivery of a manually executed
counterpart of a signature page to this Agreement. Any provisions of this
Agreement which are prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

     Section 14.13 WACHOVIA ROLES. Each of the Liquidity Banks acknowledges that
Wachovia acts, or may in the future act: (a) as administrative agent for Blue
Ridge or any Liquidity Bank, (b) as an issuing and paying agent for the
Commercial Paper, (c) to provide credit or liquidity enhancement for the timely
payment for the Commercial Paper, or (iv) to provide other services from time to
time for Blue Ridge or any Liquidity Bank (collectively, the "WACHOVIA ROLES").
Without limiting the generality of this Section 14.13, each Liquidity Bank
hereby acknowledges and consents to any and all Wachovia Roles and agrees that
in connection with any Wachovia Role, Wachovia may take, or refrain from taking,
any action that it, in its discretion, deems appropriate, including in its role
as administrative agent for Blue Ridge, and the giving of notice of a mandatory
purchase pursuant to the Liquidity Agreement.

     Section 14.14 CONSTRUCTION OF THIS AGREEMENT AND CERTAIN TERMS AND PHRASES.

          (a) Unless the context of this Agreement otherwise requires, (i) words
     of any gender include each gender; (ii) words using the singular or plural
     number also include the plural or singular number, respectively; (iii) the
     terms "hereof," "herein," "hereby," and derivative or similar words refer
     to this entire Agreement and not to any particular provision of this
     Agreement; and (iv) the terms "Article," "Section," "Schedule" and
     "Exhibit" without reference to a specified document refer to the specified
     Article, Section, Schedule and Exhibit, respectively, of this Agreement.

          (b) The words "including," "include" and "includes" are not exclusive
     and shall be deemed to be followed by the words "without limitation"; if
     exclusion is intended, the word "compromising" is used instead.

          (c) The word "or" shall be construed to mean "or" unless the context
     clearly prohibits that construction.

          (d) Whenever this Agreement refers to a number of days, such number
     shall refer to calendar days unless Business Days are specified.

                                       44
<Page>

          (e) All accounting terms used herein and not expressly defined herein
     shall have the meanings given to them under GAAP as consistently applied by
     the Person whose financial statements or practices are at issue.

          (f) All terms used in Article 9 of the UCC in the State of New York
     and not specifically defined herein shall have the meaning given to them in
     such Article 9.

          Any representation or warranty contained herein as to the
enforceability of a contract shall be subject to the effect of any bankruptcy,
insolvency, reorganization, moratorium or other similar law affecting the
enforcement of creditors' rights generally and to general equitable principles
(regardless of whether such enforceability is considered in a proceeding in
equity or at law).

                            (SIGNATURE PAGES FOLLOW)

                                       45
<Page>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed and delivered by their duly authorized officers as of the date hereof.

SPHERION RECEIVABLES LLC, formerly
known as Spherion Receivables Corp.

By:/s/ Peter Houchin
   -----------------------------------------
Name:  Peter Houchin
Title: Vice President, Corporate Finance
         and Treasury and Treasurer
         Address:  2050 Spectrum Boulevard
         Fort Lauderdale, Florida 33309
         Attention: General Counsel
         Telephone: (954) 938-7600
         Fax: (954) 938-7780

SPHERION CORPORATION, as initial Servicer

By:/s/ Peter Houchin
   -----------------------------------------
Name:  Peter Houchin
Title: Vice President, Corporate
       Finance and Treasury

       Address:  2050 Spectrum Boulevard
       Fort Lauderdale, Florida 33309
       Attention: General Counsel
       Telephone: (954) 938-7600
       Fax: (954) 938-7780

               [Signature Page to Credit and Security Agreement]

<Page>

BLUE RIDGE ASSET FUNDING CORPORATION

BY:  WACHOVIA BANK, NATIONAL ASSOCIATION, ITS ATTORNEY-IN-FACT

By:/s/ Douglas R. Wilson, Sr.
   -----------------------------------------
Name:  Douglas R. Wilson, Sr.
Title: Vice President

       Address: Blue Ridge Asset Funding Corporation
                301 South College Street
                Charlotte, NC  28288
                Attention:  Doug Wilson
                Phone:  (704) 374-2520
                Fax:    (704) 383-9579

       and

                Blue Ridge Asset Funding Corporation
                c/o AMACAR Group, L.L.C.
                6525 Morrison Blvd., Suite 318
                Charlotte, North Carolina  28211
                Attention:  Douglas K. Johnson
                Phone:  (704) 365-0569
                Fax:    (704) 365-1362

WACHOVIA BANK, NATIONAL ASSOCIATION,
as a Liquidity Bank and as Administrative Agent

By:/s/ Gary G. Fleming, Jr.
   -----------------------------------------
Name:  Gary G. Fleming, Jr.
Title: Director

       Address: Wachovia Bank, National Association
                191 Peachtree Street, 26th Floor
                Mail Stop GA8047
                Atlanta, Georgia  30303
                Attention:  Elizabeth R. Wagner
                Phone:  (404) 332-1398
                Fax:    (404) 332-5152

               [Signature Page to Credit and Security Agreement]

<Page>

                                    EXHIBIT I

                                   DEFINITIONS

     AS USED IN THIS AGREEMENT, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING
MEANINGS (SUCH MEANINGS TO BE EQUALLY APPLICABLE TO BOTH THE SINGULAR AND PLURAL
FORMS OF THE TERMS DEFINED):

     "ACCOUNTING CHANGE" means any change in GAAP or in any regulatory
accounting principles.

     "ADJUSTED DILUTION RATIO" means, at any time, the rolling average of the
Dilution Ratio for the 12 Calculation Periods then most recently ended.

     "ADMINISTRATIVE AGENT" has the meaning set forth in the preamble to this
Agreement.

     "ADMINISTRATIVE AGENT'S ACCOUNT" means account #8735-098787 at Wachovia
Bank, National Association, ABA #053100494.

     "ADVANCE" means a borrowing hereunder consisting of the aggregate amount of
the several Loans made on the same Borrowing Date.

     "ADVERSE CLAIM" means a lien, security interest, charge or encumbrance, or
other right or claim in, of or on any Person's assets or properties in favor of
any other Person.

     "AFFILIATE" means, with respect to any Person, any other Person directly or
indirectly controlling, controlled by, or under direct or indirect common
control with, such Person or any Subsidiary of such Person. A Person shall be
deemed to control another Person if the controlling Person owns 10% or more of
any class of voting securities of the controlled Person or possesses, directly
or indirectly, the power to direct or cause the direction of the management or
policies of the controlled Person, whether through ownership of stock, by
contract or otherwise.

     "AGGREGATE COMMITMENT" means, on any date of determination, the aggregate
amount of the Liquidity Banks' Commitments to make Loans hereunder. As of the
date hereof, the Aggregate Commitment is $200,000,000.

     "AGGREGATE PRINCIPAL" means, on any date of determination, the aggregate
outstanding principal amount of all Advances outstanding on such date.

     "AGGREGATE REDUCTION" has the meaning specified in Section 1.3.

     "AGREEMENT" means this Credit and Security Agreement, as it may be amended
or modified and in effect from time to time.

                                       48
<Page>

     "ALTERNATE BASE RATE" means for any day, the rate PER ANNUM equal to the
higher as of such day of (a) the Prime Rate, or (b) one percent (1.00%) above
the Federal Funds Rate. For purposes of determining the Alternate Base Rate for
any day, changes in the Prime Rate or the Federal Funds Rate shall be effective
on the date of each such change.

     "ALTERNATE BASE RATE LOAN" means a Loan which bears interest at the
Alternate Base Rate or the Default Rate.

     "AMORTIZATION DATE" means the earliest to occur of (a) the Business Day
immediately prior to the occurrence of an Event of Bankruptcy with respect to
any Loan Party, (b) the Business Day specified in a notice from the
Administrative Agent following the occurrence of any other Amortization Event,
and (c) the date which is 10 Business Days after the Administrative Agent's
receipt of notice from Borrower that it wishes to terminate the facility
evidenced by this Agreement.

     "AMORTIZATION EVENT" has the meaning specified in Article IX.

     "ASSIGNMENT AGREEMENT" has the meaning set forth in Section 12.1(b).

     "AUTHORIZED OFFICER" means (a) with respect to Spherion, any of its
President/CEO; Executive Vice President/CFO; Vice President, Business Services
and Controller and Secretary; Vice President, Corporate Finance and Treasury;
Vice President, General Counsel and Secretary; Vice President, Risk Management;
Treasurer; Assistant Treasurer; or Assistant Secretary, acting singly, (b) with
respect to Spherion Assessment Inc., any of its, CEO; Executive Vice
President/CFO; Vice President; Vice President, Corporate Finance and Treasury;
Vice President, General Counsel and Secretary; Treasurer; or Assistant
Treasurer, acting singly, (c) with respect to Norcross Teleservices Inc., Comtex
Information Systems, Inc., Spherion Atlantic Enterprises LLC, Spherion Pacific
Enterprises LLC, Spherion Atlantic Operations LLC, Spherion Pacific Operations
LLC, Spherion Atlantic Resources LLC, Spherion Atlantic Workforce LLC, Spherion
Pacific Resources LLC, and Spherion Pacific Workforce LLC, any of its
President/CEO; Executive Vice President/CFO; Vice President; Vice President,
Corporate Finance and Treasury; Vice President, General Counsel and Secretary;
Treasurer; or Assistant Treasurer; acting singly, (d) with respect to the
Borrower, any of its, President/CEO; Executive Vice President/CFO; Vice
President; Vice President, Corporate Finance and Treasury; Vice President,
General Counsel and Secretary; Treasurer; Assistant Treasurer; or Assistant
Secretary, acting singly.

     "BLUE RIDGE" has the meaning set forth in the preamble to this Agreement.

     "BORROWER" has the meaning set forth in the preamble to this Agreement.

     "BORROWING BASE" means, on any date of determination, the Net Pool Balance
as of the last day of the period covered by the most recent Monthly Report,
MINUS the Required Reserve as of the last day of the period covered by the most
recent Monthly Report, and MINUS Deemed Collections that have occurred since the
most recent Cut-Off Date to the extent that such Deemed Collections exceed the
Dilution Reserve.

                                       49
<Page>

     "BORROWING DATE" means a Business Day on which an Advance is made
hereunder.

     "BORROWING LIMIT" has the meaning set forth in Section 1.2.

     "BORROWING NOTICE" has the meaning set forth in Section 1.2.

     "BROKEN FUNDING COSTS" means for any CP Rate Loan or LIBO Rate Loan which:
(a) in the case of a CP Rate Loan, has its principal reduced without compliance
by Borrower with the notice requirements hereunder, (b) in the case of a CP Rate
Loan or a LIBO Rate Loan, does not become subject to an Aggregate Reduction
following the delivery of any Reduction Notice, (c) in the case of a CP Rate
Loan, is assigned under the Liquidity Agreement, or (d) in the case of a LIBO
Rate Loan, is terminated or reduced prior to the last day of its Interest
Period, an amount equal to the excess, if any, of (i) the CP Costs or Interest
(as applicable) that would have accrued during the remainder of the Interest
Periods or the tranche periods for Commercial Paper determined by the
Administrative Agent to relate to such Loan (as applicable) subsequent to the
date of such reduction, assignment or termination (or in respect of clause (b)
above, the date such Aggregate Reduction was designated to occur pursuant to the
Reduction Notice) of the principal of such Loan if such reduction, assignment or
termination had not occurred or such Reduction Notice had not been delivered,
over (ii) the sum of (x) to the extent all or a portion of such principal is
allocated to another Loan, the amount of CP Costs or Interest actually accrued
during the remainder of such period on such principal for the new Loan, and (y)
to the extent such principal is not allocated to another Loan, the income, if
any, actually received during the remainder of such period by the holder of such
Loan from investing the portion of such principal not so allocated. If the
amount referred to in clause (b) exceeds the amount referred to in clause (a),
the relevant Lender or Lenders agree to pay to Borrower the amount of such
excess. All Broken Funding Costs shall be due and payable hereunder upon demand.

     "BUSINESS DAY" means any day on which banks are not authorized or required
to close in New York, New York or Atlanta, Georgia, and The Depository Trust
Company of New York is open for business, and, if the applicable Business Day
relates to any computation or payment to be made with respect to the LIBO Rate,
any day on which dealings in dollar deposits are carried on in the London
interbank market.

     "CALCULATION PERIOD" means an accounting month.

     "CASH EQUIVALENTS" shall mean, as to any Person, (a) securities issued or
directly and fully guaranteed or insured by the United States or any agency or
instrumentality thereof (PROVIDED that the full faith and credit of the United
States is pledged in support thereof) having maturities of not more than one (1)
year from the date of acquisition, (b) time deposits or certificates of deposit
of any commercial bank incorporated under the laws of the United States or any
state thereof, of recognized standing having capital and unimpaired surplus in
excess of $1,000,000,000 and whose short-term commercial paper rating at the
time of acquisition is at least A-1 or the equivalent thereof by Standard &
Poor's Corporation or at least P-1 or the equivalent thereof by Moody's
Investors Services, Inc. (any such bank, an "Approved Bank"), with such deposits
or certificates having maturities of not more than one year from the date of

                                       50
<Page>

acquisition, (c) repurchase obligations with a term of not more than seven days
for underlying securities of the types described in clauses (a) and (b) above
entered into with any Approved Bank, (d) commercial paper or finance company
paper issued by any Person incorporated under the laws of the United States or
any state thereof and rated at least A-1 or the equivalent thereof by Standard &
Poor's Corporation or at least P-1 or the equivalent thereof by Moody's
Investors Service, Inc., and in each case maturing not more than one year after
the date of acquisition, and (e) investments in money market funds that are
registered under the Investment Company Act of 1940, as amended, which have net
assets of at least $1,000,000,000 and at least eighty-five percent (85%) of
whose assets consist of securities and other obligations of the type described
in clauses (a) through (d) above. All such Cash Equivalents must be denominated
solely for payment in United States Dollars.

     "CHANGE OF CONTROL" means the acquisition by any Person or two or more
Persons acting in concert, of beneficial ownership (within the meaning of Rule
13d-3 of the Securities and Exchange Commission under the Securities Exchange
Act of 1934) of 20% or more of the outstanding voting stock of any Loan Party.

     "COLLATERAL" has the meaning set forth in Section 13.1.

     "COLLECTION ACCOUNT" means each concentration account, depositary account,
lock-box account or similar account in which any Collections are collected or
deposited and which is listed on Exhibit IV.

     "COLLECTION ACCOUNT AGREEMENT" means an agreement substantially in the form
of Exhibit VI among an Originator, Borrower, the Administrative Agent and a
Collection Bank.

     "COLLECTION BANK" means, at any time, any of the banks holding one or more
Collection Accounts.

     "COLLECTION NOTICE" means a notice, in substantially the form of Annex A to
Exhibit VI, from the Administrative Agent to a Collection Bank.

     "COLLECTIONS" means, with respect to any Receivable, all cash collections
and other cash proceeds in respect of such Receivable, including, all Finance
Charges or other related amounts accruing in respect thereof and all cash
proceeds of Related Security with respect to such Receivable.

     "COMMERCIAL PAPER" means promissory notes of Blue Ridge issued by Blue
Ridge in the commercial paper market.

     "COMMITMENT" means, for each Liquidity Bank, the commitment of such
Liquidity Bank to make Loans to Borrower hereunder if Blue Ridge elects not to
fund any Advance in an aggregate principal amount at any one time outstanding
not to exceed the amount set forth opposite such Liquidity Bank's name on
Schedule A.

     "COMMITMENT INCREASE REQUEST" has the meaning set forth in Section 1.7.

                                       51
<Page>

     "CONTINGENT OBLIGATION" of a Person means any agreement, undertaking or
arrangement by which such Person assumes, guarantees, endorses, contingently
agrees to purchase or provide funds for the payment of, or otherwise becomes or
is contingently liable upon, the obligation or liability of any other Person, or
agrees to maintain the net worth or working capital or other financial condition
of any other Person, or otherwise assures any creditor of such other Person
against loss, including, any comfort letter, operating agreement, take-or-pay
contract or application for a letter of credit.

     "CONTRACT" means, with respect to any Receivable, any and all instruments,
agreements, invoices or other writings pursuant to which such Receivable arises
or which evidences such Receivable.

     "CP COSTS" means, for each day, the sum of (a) discount or interest accrued
on Pooled Commercial Paper on such day, plus (b) any and all accrued commissions
in respect of placement agents and Commercial Paper dealers, and issuing and
paying agent fees incurred, in respect of such Pooled Commercial Paper for such
day, plus (c) other costs associated with funding small or odd-lot amounts with
respect to all receivable purchase facilities which are funded by Pooled
Commercial Paper for such day, minus (d) any accrual of income net of expenses
received on such day from investment of collections received under all
receivable purchase or financing facilities funded substantially with Pooled
Commercial Paper, minus (e) any payment received on such day net of expenses in
respect of Broken Funding Costs (or similar costs) related to the prepayment of
any investment of Blue Ridge pursuant to any receivable purchase or financing
facilities funded substantially with Pooled Commercial Paper. In addition to the
foregoing costs, if Borrower shall request any Advance during any period of time
determined by the Administrative Agent in its sole discretion to result in
incrementally higher CP Costs applicable to such Advance, the principal
associated with any such Advance shall, during such period, be deemed to be
funded by Blue Ridge in a special pool (which may include capital associated
with other receivable purchase or financing facilities) for purposes of
determining such additional CP Costs applicable only to such special pool and
charged each day during such period against such principal.

     "CP RATE LOAN" means, for each Loan of Blue Ridge prior to the time, if
any, when (a) it is refinanced with a Liquidity Funding pursuant to the
Liquidity Agreement, or (b) the occurrence of an Amortization Event and the
commencement of the accrual of Interest thereon at the Default Rate.

     "CREDIT AND COLLECTION POLICY" means Borrower's credit and collection
policies and practices relating to Contracts and Receivables existing on the
date hereof and summarized in Exhibit VIII, as modified from time to time in
accordance with this Agreement.

     "CUT-OFF DATE" means the last day of each monthly accounting period of the
Borrower as reflected on Schedule I.

     "DAYS SALES OUTSTANDING" means, as of any day, an amount equal to the
product of (a) 91, multiplied by (b) the amount obtained by dividing (i) the
aggregate outstanding balance of Receivables as of the most recent Cut-Off Date,
by (ii) the aggregate amount of Receivables

                                       52

<Page>

created during the three Calculation Periods including and immediately preceding
such Cut-Off Date.

     "DEEMED COLLECTIONS" means Collections deemed received by the Borrower
under Section 1.4(a).

     "DEFAULT HORIZON RATIO" means, as of any Cut-Off Date, the ratio (expressed
as a decimal) computed by dividing (a) the aggregate sales generated by the
Originators during the four Calculation Periods ending on such Cut-Off Date, by
(b) the Net Pool Balance as of such Cut-off Date.

     "DEFAULT RATE" means a rate per annum equal to the sum of (a) the Alternate
Base Rate, changing when and as the Alternate Base Rate changes plus (b) 2.00%.

     "DEFAULT RATIO" means, as of any Cut-Off Date, the ratio (expressed as a
percentage) computed by dividing (a) the total amount of Receivables which
became Defaulted Receivables during the Calculation Period that includes such
Cut-Off Date, by (b) the aggregate sales generated by the Originators during the
Calculation Period occurring four months prior to the Calculation Period ending
on such Cut-Off Date, provided, however, the Receivables for which Worldcom or
Owens Corning or any of their respective Subsidiaries is the Obligor and which
become Defaulted Receivables solely as a result of the occurrence of an Event of
Bankruptcy with respect to Worldcom, Owens Corning or any of their respective
Subsidiaries shall be excluded from the calculation of Default Ratio.

     "DEFAULTED RECEIVABLE" means a Receivable: (a) as to which the Obligor
thereof has suffered an Event of Bankruptcy; (b) which, consistent with the
Credit and Collection Policy, would be written off Borrower's books as
uncollectible; or (c) as to which any payment, or part thereof, remains unpaid
for 121-150 days or more from the original invoice date for such payment.

     "DELINQUENCY RATIO" means, at any time, a percentage equal to (a) the
aggregate Outstanding Balance of all Receivables that were Delinquent
Receivables at such time divided by (b) the aggregate Outstanding Balance of all
Receivables at such time, provided, however, the Receivables for which Worldcom
or Owens Corning or any of their respective Subsidiaries is the Obligor and
which become Delinquent Receivables solely as a result of the occurrence of an
Event of Bankruptcy with respect to Worldcom, Owens Corning or any of their
respective Subsidiaries shall be excluded from the calculation of Delinquency
Ratio.

     "DELINQUENT RECEIVABLE" means a Receivable as to which any payment, or part
thereof, remains unpaid for 91-120 days from the original invoice date for such
payment.

     "DILUTION" means the amount of any reduction or cancellation of the
Outstanding Balance of a Receivable as described in Section 1.4(a).

     "DILUTION HORIZON RATIO" means, as of any Cut-off Date, a ratio (expressed
as a decimal), computed by dividing (a) the aggregate sales generated by the
Originators during the 1.5 Calculation Periods ending on such Cut-Off Date, by
(b) the Net Pool Balance as of such Cut-Off Date.

                                       53
<Page>

     "DILUTION RATIO" means, as of any Cut-Off Date, a ratio (expressed as a
percentage), computed by dividing (a) the total amount of decreases in
Outstanding Balances due to Dilutions during the Calculation Period ending on
such Cut-Off Date, by (b) the aggregate sales generated by the Originators
during the Calculation Period prior to the Calculation Period ending on such
Cut-Off Date.

     "DILUTION RESERVE" means, for any Calculation Period, the product
(expressed as a percentage) of:

          (a) the sum of (i) two times the Adjusted Dilution Ratio as of the
     immediately preceding Cut-Off Date, PLUS (ii) the Dilution Volatility
     Component as of the immediately preceding Cut-Off Date, TIMES

          (b) the Dilution Horizon Ratio as of the immediately preceding Cut-Off
     Date.

     "DILUTION VOLATILITY COMPONENT" means the product (expressed as a
percentage) of (a) the difference between (i) the highest three month rolling
average Dilution Ratio over the past 12 Calculation Periods and (ii) the
Adjusted Dilution Ratio, and (b) a fraction, the numerator of which is equal to
the amount calculated in (a)(i) of this definition and the denominator of which
is equal to the amount calculated in (b)(i) of this definition.

     "DOWNGRADED LIQUIDITY BANK" means a Liquidity Bank which has been the
subject of a Downgrading Event.

     "DOWNGRADING EVENT" with respect to any Person means the lowering of the
rating with regard to the short-term securities of such Person to below (i) A-1
by S&P, or (ii) P-1 by Moody's.

     "ELIGIBLE ASSIGNEE" means a commercial bank having a combined capital and
surplus of at least $250,000,000 with a rating of its (or its Spherion holding
company's) short-term securities equal to or higher than (a) A-1 by S&P and (b)
P-1 by Moody's.

     "ELIGIBLE RECEIVABLE" means, at any time, a Receivable:

          (a) the Obligor of which (i) if a natural person, is a resident of the
     United States or, if a corporation or other business organization, is
     organized under the laws of the United States or any political subdivision
     thereof and has its chief executive office in the United States; (ii) is
     not an Affiliate of any of the parties hereto; and (iii) is not a
     government or a governmental subdivision or agency as to which the
     assignment of receivables owing therefrom requires compliance with the
     Federal Assignment of Claims Act or other similar legislation (unless the
     Borrower has complied therewith); PROVIDED, HOWEVER, that the Borrower
     shall not be required to comply with the Federal Assignment of Claim Act or
     other similar legislation so long as the aggregate amount of Receivables of
     the type described in this clause (a)(iii) does not exceed 3.5% of the
     aggregate Outstanding Balance of all Eligible Receivables as of the last
     day of any Settlement Period,

                                       54
<Page>

          (b) which is not a Defaulted Receivable or owing from an Obligor as to
     which more than 35% of the aggregate Outstanding Balance of all Receivables
     owing from such Obligor are Defaulted Receivables,

          (c) which was not a Delinquent Receivable on the date on which it was
     acquired by Borrower from the applicable Originator,

          (d) which by its terms is due and payable within 30 days of the
     original billing date therefor and has not had its payment terms extended
     more than once,

          (e) which is an "account" or "chattel paper" within the meaning of
     Section 9-106 and Section 9-105, respectively, of the UCC of all applicable
     jurisdictions,

          (f) which is denominated and payable only in United States dollars in
     the United States,

          (g) which arises under a Contract in substantially the form of one of
     the form contracts set forth on Exhibit X or otherwise approved by the
     Administrative Agent in writing, which, together with such Receivable, is
     in full force and effect and constitutes the legal, valid and binding
     obligation of the related Obligor enforceable against such Obligor in
     accordance with its terms subject to no offset, counterclaim or other
     defense,

          (h) which arises under a Contract which (i) does not require the
     Obligor under such Contract to consent to the transfer, sale, pledge or
     assignment of the rights and duties of the applicable Originator or any of
     its assignees under such Contract and (ii) does not contain a
     confidentiality provision that purports to restrict the ability of any
     Lender to exercise its rights under this Agreement, including, its right to
     review the Contract,

          (i) which arises under a Contract that contains an obligation to pay a
     specified sum of money, contingent only upon the sale of goods or the
     provision of services by the applicable Originator,

          (j) which, together with the Contract related thereto, does not
     contravene any law, rule or regulation applicable thereto (including, any
     law, rule and regulation relating to truth in lending, fair credit billing,
     fair credit reporting, equal credit opportunity, fair debt collection
     practices and privacy) and with respect to which no part of the Contract
     related thereto is in violation of any such law, rule or regulation,

          (k) which satisfies all applicable requirements of the Credit and
     Collection Policy,

          (l) which was generated in the ordinary course of the applicable
     Originator's business,

          (m) which arises solely from the sale of goods or the provision of
     services to the related Obligor by the applicable Originator, and not by
     any other Person (in whole or in part),

                                       55
<Page>

          (n) as to which the Administrative Agent has not notified Borrower
     that the Administrative Agent has determined that such Receivable or class
     of Receivables is not acceptable as an Eligible Receivable, including,
     because such Receivable arises under a Contract that is not acceptable to
     the Administrative Agent,

          (o) which is not subject to any dispute, counterclaim, right of
     rescission, set-off, counterclaim or any other defense (including defenses
     arising out of violations of usury laws) of the applicable Obligor against
     the applicable Originator or any other Adverse Claim, and the Obligor
     thereon holds no right as against such Originator to cause such Originator
     to repurchase the goods or merchandise the sale of which shall have given
     rise to such Receivable (except with respect to sale discounts effected
     pursuant to the Contract, or defective goods returned in accordance with
     the Contract); PROVIDED, HOWEVER, that if such dispute, offset,
     counterclaim or defense affects only a portion of the Outstanding Balance
     of such Receivable, then such Receivable may be deemed an Eligible
     Receivable to the extent of the portion of such Outstanding Balance which
     is not so affected, and PROVIDED, FURTHER, that Receivables of any Obligor
     which has any accounts payable by the applicable Originator or by a
     wholly-owned Subsidiary of such Originator (thus giving rise to a potential
     offset against such Receivables) may be treated as Eligible Receivables to
     the extent that the Obligor of such Receivables has agreed pursuant to a
     written agreement in form and substance satisfactory to the Administrative
     Agent, that such Receivables shall not be subject to such offset,

          (p) as to which the applicable Originator has satisfied and fully
     performed all obligations on its part with respect to such Receivable
     required to be fulfilled by it, and no further action is required to be
     performed by any Person with respect thereto other than payment thereon by
     the applicable Obligor,

          (q) as to which each of the representations and warranties contained
     in Sections 5.1(i), (j), (r), (s), (t) and (u) is true and correct,

          (r) all right, title and interest to and in which has been validly
     transferred by the applicable Originator directly to Borrower under and in
     accordance with the Receivables Sale Agreement, and Borrower has good and
     marketable title thereto free and clear of any Adverse Claim (except as
     created by the Transaction Documents), and

          (s) the Obligor of which is not Worldcom, Owens Corning or any of
     their respective Subsidiaries that have suffered an Event of Bankruptcy.

     "EQUITY INTERESTS" means, with respect to any Person, any and all shares,
interests, participations or other equivalents, including membership interests
(however designated, whether voting or non-voting), of capital of such Person,
including, if such Person is a partnership, partnership interests (whether
general or limited) and any other interest or participation that confers on a
Person the right to receive a share of the profits and losses of, or
distributions of assets of, such partnership, whether outstanding on the date
hereof or issued after the date of this Agreement.

     "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and any rule or regulation issued thereunder.

                                       56
<Page>

     "ERISA AFFILIATE" means any trade or business (whether or not incorporated)
under common control with Performance Guarantor within the meaning of Section
414(b) or (c) of the Tax Code (and Sections 414(m) and (o) of the Tax Code for
purposes of provisions relating to Section 412 of the Tax Code).

     "EVENT OF BANKRUPTCY" shall be deemed to have occurred with respect to a
Person if either:

          (a) a case or other proceeding shall be commenced, without the
     application or consent of such Person, in any court, seeking the
     liquidation, reorganization, debt arrangement, dissolution, winding up, or
     composition or readjustment of debts of such Person, the appointment of a
     trustee, receiver, custodian, liquidator, assignee, sequestrator or the
     like for such Person or all or substantially all of its assets, or any
     similar action with respect to such Person under any law relating to
     bankruptcy, insolvency, reorganization, winding up or composition or
     adjustment of debts, and such case or proceeding shall continue
     undismissed, or unstayed and in effect, for a period of 60 consecutive
     days; or an order for relief in respect of such Person shall be entered in
     an involuntary case under the federal bankruptcy laws or other similar laws
     now or hereafter in effect; or

          (b) such Person shall commence a voluntary case or other proceeding
     under any applicable bankruptcy, insolvency, reorganization, debt
     arrangement, dissolution or other similar law now or hereafter in effect,
     or shall consent to the appointment of or taking possession by a receiver,
     liquidator, assignee, trustee (other than a trustee under a deed of trust,
     indenture or similar instrument), custodian, sequestrator (or other similar
     official) for, such Person or for any substantial part of its property, or
     shall make any general assignment for the benefit of creditors, or shall be
     adjudicated insolvent, or admit in writing its inability to pay its debts
     generally as they become due, or, if a corporation or similar entity, its
     board of directors shall vote to implement any of the foregoing.

     "EXTENSION REQUEST" has the meaning set forth in Section 1.8.

     "FACILITY ACCOUNT" means Borrower's account no. 3751993379 at Bank of
America, N.A.

     "FACILITY TERMINATION DATE" means the earliest of (a) the Liquidity
Termination Date, (b) the Amortization Date and (c) the Scheduled Termination
Date.

     "FEDERAL BANKRUPTCY CODE" means Title 11 of the United States Code entitled
"Bankruptcy," as amended and any successor statute thereto.

     "FEDERAL FUNDS EFFECTIVE RATE" means, for any period, a fluctuating
interest rate PER ANNUM for each day during such period equal to (a) the
weighted average of the rates on overnight federal funds transactions with
members of the Federal Reserve System arranged by federal funds brokers, as
published for such day (or, if such day is not a Business Day, for the preceding
Business Day) by the Federal Reserve Bank of New York in the Composite Closing
Quotations for U.S. Government Securities; or (b) if such rate is not so
published for any day which is a Business Day, the average of the quotations at
approximately 11:30 a.m. (New York

                                       57
<Page>

time) for such day on such transactions received by the Administrative Agent
from three federal funds brokers of recognized standing selected by it.

     "FEE LETTER" means that certain Amended and Restated Fee Letter dated as of
the date hereof among Borrower, Spherion and the Administrative Agent, as it may
be amended or modified and in effect from time to time.

     "FINAL PAYOUT DATE" means the date on which all Obligations have been paid
in full and the Aggregate Commitment has been terminated.

     "FINANCE CHARGES" means, with respect to a Contract, any finance, interest,
late payment charges or similar charges owing by an Obligor pursuant to such
Contract.

     "FUNDING AGREEMENT" means (a) this Agreement, (b) the Liquidity Agreement
and (c) any other agreement or instrument executed by any Funding Source with or
for the benefit of Blue Ridge.

     "FUNDING SOURCE" means (a) any Liquidity Bank or (b) any insurance company,
bank or other funding entity providing liquidity, credit enhancement or back-up
purchase support or facilities to Blue Ridge.

     "GAAP" means generally accepted accounting principles in effect in the
United States of America as of the date of this Agreement.

     "INDEBTEDNESS" of a Person means such Person's (a) obligations for
borrowed money, (b) obligations representing the deferred purchase price of
property or services (other than accounts payable arising in the ordinary
course of such Person's business payable on terms customary in the trade),
(c) obligations, whether or not assumed, secured by liens or payable out of
the proceeds or production from property now or hereafter owned or acquired
by such Person, (d) obligations which are evidenced by notes, acceptances, or
other instruments, (e) capitalized lease obligations, (f) net liabilities
under interest rate swap, exchange or cap agreements, (g) Contingent
Obligations and (h) liabilities in respect of unfunded vested benefits under
plans covered by Title IV of ERISA.

     "INDEPENDENT DIRECTOR" shall mean a member of the Board of Directors of
Borrower who is not at such time, and has not been at any time during the
preceding five years: (a) a director, officer, employee or affiliate of
Performance Guarantor, any Originator or any of their respective Subsidiaries or
Affiliates (other than Borrower), or (b) the beneficial owner (at the time of
such individual's appointment as an Independent Director or at any time
thereafter while serving as an Independent Director) of any of the outstanding
common shares of Borrower, any Originator, or any of their respective
Subsidiaries or Affiliates, having general voting rights.

     "INTEREST" means for each respective Interest Period relating to Loans of
the Liquidity Banks, an amount equal to the product of the applicable Interest
Rate for each Loan multiplied by the principal of such Loan for each day elapsed
(including the first day but, excluding the last day) during such Interest
Period, annualized on a 360-day basis.

     "INTEREST PERIOD" means, with respect to any Loan held by a Liquidity Bank:

                                       58
<Page>

          (a) if Interest for such Loan is calculated on the basis of the LIBO
     Rate, a period of one, two, three or six months, or such other period as
     may be mutually agreeable to the Administrative Agent and Borrower,
     commencing on a Business Day selected by Borrower or the Administrative
     Agent pursuant to this Agreement. Such Interest Period shall end on the day
     in the applicable succeeding calendar month which corresponds numerically
     to the beginning day of such Interest Period, PROVIDED, HOWEVER, that if
     there is no such numerically corresponding day in such succeeding month,
     such Interest Period shall end on the last Business Day of such succeeding
     month; or

          (b) if Interest for such Loan is calculated on the basis of the
     Alternate Base Rate, a period commencing on a Business Day selected by
     Borrower and agreed to by the Administrative Agent, PROVIDED THAT no such
     period shall exceed one month.

If any Interest Period would end on a day which is not a Business Day, such
Interest Period shall end on the next succeeding Business Day, PROVIDED,
HOWEVER, that in the case of Interest Periods corresponding to the LIBO Rate, if
such next succeeding Business Day falls in a new month, such Interest Period
shall end on the immediately preceding Business Day. In the case of any Interest
Period for any Loan which commences before the Amortization Date and would
otherwise end on a date occurring after the Amortization Date, such Interest
Period shall end on the Amortization Date. The duration of each Interest Period
which commences after the Amortization Date shall be of such duration as
selected by the Administrative Agent.

     "INTEREST RATE" means, with respect to each Loan of the Liquidity Banks,
the LIBO Rate, the Alternate Base Rate or the Default Rate, as applicable.

     "INTEREST RESERVE" means, for any Calculation Period, the product
(expressed as a percentage) of (a) 1.5 TIMES (b) the Alternate Base Rate as of
the immediately preceding Cut-Off Date TIMES (c) a fraction the numerator of
which is the highest Days Sales Outstanding for the most recent 12 Calculation
Periods and the denominator of which is 360.

     "INTERIM REPORT" means a report, in substantially the form of Exhibit XII
(appropriately completed), furnished by the Servicer to the Administrative Agent
pursuant to Section 8.5.

     "LENDER" means Blue Ridge and each Liquidity Bank.

     "LIBO RATE" means, for any Interest Period, (a) the rate per annum
determined on the basis of the offered rate for deposits in U.S. dollars of
amounts equal or comparable to the principal amount of the related Loan offered
for a term comparable to such Interest Period, which rates appear on a Bloomberg
L.P. terminal, displayed under the address "US0001M (INDEX) Q (GO)" effective as
of 11:00 A.M., London time, two Business Days prior to the first day of such
Interest Period, PROVIDED that if no such offered rates appear on such page, the
LIBO Rate for such Interest Period will be the arithmetic average (rounded
upwards, if necessary, to the next higher 1/100th of 1%) of rates quoted by at
least two major banks in New York, New York, selected by the Administrative
Agent, at approximately 10:00 a.m.(New York time), two Business Days prior to
the first day of such Interest Period, for deposits in U.S. dollars offered by
leading European banks for a period comparable to such Interest Period in an
amount

                                       59
<Page>

comparable to the principal amount of such Loan, divided by (b) one minus the
maximum aggregate reserve requirement (including all basic, supplemental,
marginal or other reserves) which is imposed against the Administrative Agent in
respect of Eurocurrency liabilities, as defined in Regulation D of the Board of
Governors of the Federal Reserve System as in effect from time to time
(expressed as a decimal), applicable to such Interest Period plus (ii) 1.0 % PER
ANNUM. The LIBO Rate shall be rounded, if necessary, to the next higher 1/16 of
1%.

     "LIBO RATE LOAN" means a Loan which bears interest at the LIBO Rate.

     "LIQUIDITY AGREEMENT" means that certain Amended and Restated Liquidity
Asset Purchase Agreement, dated as of August 19, 2002 by and among Blue Ridge,
the Administrative Agent and the banks from time to time party thereto, as the
same may be amended, restated or otherwise modified from time to time in
accordance with the terms thereof.

     "LIQUIDITY BANKS" has the meaning set forth in the preamble in this
Agreement.

     "LIQUIDITY COMMITMENT" means, as to each Liquidity Bank, its commitment
under the Liquidity Agreement (which shall equal 102% of its Commitment
hereunder).

     "LIQUIDITY FUNDING" means (a) a purchase made by any Liquidity Bank
pursuant to its Liquidity Commitment of all or any portion of, or any undivided
interest in, a Blue Ridge Loan, or (b) any Loan made by a Liquidity Bank in lieu
of Blue Ridge pursuant to Section 1.1.

     "LIQUIDITY TERMINATION DATE" means the earlier to occur of the following:

          (a) the date on which the Liquidity Banks' Liquidity Commitments
     expire, cease to be available to Blue Ridge or otherwise cease to be in
     full force and effect; or

          (b) the date on which a Downgrading Event with respect to a Liquidity
     Bank shall have occurred and been continuing for at least 30 days, and
     either (i) the Downgraded Liquidity Bank shall not have been replaced by an
     Eligible Assignee pursuant to the Liquidity Agreement, or (ii) the
     Liquidity Commitment of such Downgraded Liquidity Bank shall not have been
     funded or collateralized in such a manner that will avoid a reduction in or
     withdrawal of the credit rating applied to the Commercial Paper to which
     such Liquidity Agreement applies by any of the rating agencies then rating
     such Commercial Paper.

     "LOAN" means any loan made by a Lender to the Borrower pursuant to this
Agreement (including, any Liquidity Funding). Each Loan shall either be a CP
Rate Loan, an Alternate Base Rate Loan or a Eurodollar Rate Loan, selected in
accordance with this Agreement.

     "LOAN PARTIES" has the meaning set forth in the preamble to this Agreement.

     "LOCK-BOX" means each locked postal box with respect to which a bank who
has executed a Collection Account Agreement has been granted exclusive access
for the purpose of retrieving and processing payments made on the Receivables
and which is listed on Exhibit IV.

                                       60
<Page>

     "LOSS RESERVE" means, for any Calculation Period, the product (expressed as
a percentage) of (a) 2.0, times (b) the highest three-month rolling average
Default Ratio during the 12 Calculation Periods ending on the immediately
preceding Cut-Off Date, times (c) the Default Horizon Ratio as of the
immediately preceding Cut-Off Date.

     "MATERIAL ACQUISITION" means, other than in connection with Permitted
Restructuring, that any Originator acquires the Outstanding Balance of
Receivables of one or more other Persons which are not Originators, whether by
purchase, merger, consolidation or otherwise, if (a) the aggregate Outstanding
Balance of Receivables so acquired from any one such Person exceeds 10% of the
Borrowing Base in effect on the date of acquisition, merger or consolidation, or
(b) the aggregate Outstanding Balance of Receivables so acquired from all
Persons in any calendar year exceeds (or from all such Persons in any calendar
year) exceeds 10% of the weighted average Borrowing Base in effect during such
calendar year.

     "MATERIAL ADVERSE EFFECT" means a material adverse effect on (a) the
financial condition or operations of any Loan Party and its Subsidiaries taken
as a whole, (b) the ability of any Loan Party to perform its obligations under
this Agreement or the Performance Guarantor to perform its obligations under the
Performance Undertaking, (c) the legality, validity or enforceability of this
Agreement or any other Transaction Document, (d) the Administrative Agent's
security interest, for the benefit of the Secured Parties, in the Receivables
generally or in any significant portion of the Receivables, or the Collections
with respect thereto, or (e) the collectability of the Receivables generally or
of any material portion of the Receivables.

     "MATERIAL PROPOSED ADDITION" means, other than in connection with a
Permitted Restructuring, a Person whom any Loan Party proposes to add as an
"Originator" under the Receivables Sale Agreement if either (a) the aggregate
Outstanding Balance of such Person's receivables (on the proposal date)
exceeds 3% of the weighted average Borrowing Base in effect on the proposal
date, or (b) the Outstanding Balance of such Person's receivables (on such
proposal date), when aggregated with the receivables of all other Persons
added as "Originators" under the Receivables Sale Agreement in the same
calendar year (measured on the respective dates such other Persons became
"sellers" under the Receivables Sale Agreement) exceeds 10% of the weighted
average Borrowing Base in effect during such calendar year.

     "MATERIAL SUBSIDIARY" has the meaning set forth in the Receivables Sale
Agreement.

     "MONTHLY REPORT" means a report, in substantially the form of Exhibit IX
(appropriately completed), furnished by the Servicer to the Administrative Agent
pursuant to Section 8.5.

     "MONTHLY REPORTING DATE" means the 15th Business Day of each monthly
accounting period after the date of this Agreement (or if any such day is not a
Business Day, the next succeeding Business Day thereafter) or such other days of
each monthly accounting period as the Administrative Agent shall request in
connection with Section 8.5.

     "MOODY'S" means Moody's Investors Service, Inc.

                                       61
<Page>

     "NET POOL BALANCE" means, at any time, the aggregate Outstanding Balance of
all Eligible Receivables at such time reduced by the aggregate amount by which
the Outstanding Balance of all Eligible Receivables of each Obligor and its
Affiliates exceeds the Obligor Concentration Limit for such Obligor.

     "OBLIGATIONS" means, at any time, any and all obligations of either of the
Loan Parties to any of the Secured Parties arising under or in connection with
the Transaction Documents, whether now existing or hereafter arising, due or
accrued, absolute or contingent, including, obligations in respect of Aggregate
Principal, CP Costs, Interest, fees under the Fee Letter, Broken Funding Costs
and Indemnified Amounts.

     "OBLIGOR" means a Person obligated to make payments pursuant to a Contract.

     "OBLIGOR CONCENTRATION LIMIT" means, at any time, in relation to the
aggregate Outstanding Balance of Receivables owed by any single Obligor and its
Affiliates (if any), the applicable concentration limit shall be determined as
follows for Obligors who have short term unsecured debt ratings currently
assigned to them by S&P and Moody's (or in the absence thereof, the equivalent
long term unsecured senior debt ratings), the applicable concentration limit
shall be determined according to the following table:
<Table>
<Caption>
                                                                Allowable % of Eligible
           S&P Rating                     Moody's Rating             Receivables
           ----------                    ----------------      -------------------------
<S>                                 <C>                               <C>
               A-1+                            P-1                      10%
               A-1                             P-1                       8%
               A-2                             P-2                       6%
               A-3                             P-3                       3%
Below A-3 or Not Rated by either    Below P-3 or Not Rated by
         S&P or Moody's               either S&P or Moody's            2.5%
</Table>

; PROVIDED, HOWEVER, that (a) if any Obligor has a split rating, the applicable
rating will be the lower of the two, (b) if any Obligor is not rated by either
S&P or Moody's, the applicable Obligor Concentration Limit shall be the one set
forth in the last line of the table above, and (c) subject to satisfaction of
the Rating Agency Condition or an increase in the percentage set forth in clause
(a)(i) of the definition of "REQUIRED RESERVE," upon the Borrower's request from
time to time, the Administrative Agent may agree to a higher percentage of
Eligible Receivables for a particular Obligor and its Affiliates (each such
higher percentage, a "SPECIAL CONCENTRATION LIMIT"), it being understood that
any Special Concentration Limit may be cancelled by the Administrative Agent
upon five Business Days' notice to the Loan Parties. The Administrative Agent
hereby agrees that International Business Machines Corp. shall have a Special
Concentration Limit of 11%.

     "ORIGINATOR" means each of Spherion Corporation, Spherion Assessment Inc.,
Norcross Teleservices Inc., Comtex Information Systems, Inc., Spherion Pacific
Enterprises LLC, Spherion Atlantic Enterprises LLC, Spherion Pacific Operations
LLC, Spherion Atlantic Operations LLC, Spherion Atlantic Resources LLC, Spherion
Atlantic Workforce LLC,

                                       62
<Page>

Spherion Pacific Resources LLC and Spherion Pacific Workforce LLC, each in its
capacity as an originator under the Receivables Sale Agreement.

     "OUTSTANDING BALANCE" of any Receivable at any time means the then
outstanding principal balance thereof.

     "OWENS CORNING" means Owens Corning, an Ohio corporation.

     "PARTICIPANT" has the meaning set forth in Section 12.2.

     "PBGC" means the Pension Benefit Guaranty Corporation, or any successor
thereto.

     "PENSION PLAN" means a pension plan (as defined in Section 3(2) of ERISA)
subject to Title IV of ERISA which Performance Guarantor sponsors or maintains,
or to which it makes, is making, or is obligated to make contributions, or in
the case of a multiple employer plan (as described in Section 4064(a) of ERISA)
has made contributions at any time during the immediately preceding five plan
years.

     "PERFORMANCE GUARANTOR" means Spherion, in its capacity as Performance
Guarantor under the Performance Undertaking.

     "PERFORMANCE UNDERTAKING" means that certain Amended and Restated
Performance Undertaking, dated as of August 19, 2002 by Performance Guarantor in
favor of Borrower, substantially in the form of Exhibit XI, as the same may be
amended, restated or otherwise modified from time to time.

     "PERMITTED RESTRUCTURING" means any merger, consolidation or similar
combination of an Originator (a) with another Originator, or (b) with and into a
newly formed entity that is (i) domiciled in the United States of America, and
(ii wholly-owned, directly or indirectly, by Spherion, with no assets (other
than its initial paid-in capital) and no liabilities (other than minimal
organization costs) for the purpose of changing its legal form from a
corporation, partnership or limited liability company domiciled in one state of
the United States to a corporation, partnership or limited liability company
domiciled in another state, from a corporation to a partnership or limited
liability company, from a partnership to a corporation or limited liability
company, or from a limited liability company to a partnership or corporation, as
the case may be, or (c) with any other Person to which the Administrative Agent
gives its prior written consent, SO LONG AS: (1) the successor or surviving
entity unconditionally assumes such Originator's (or Originators') respective
obligations under the Transaction Documents to which it is (or they are) a party
immediately prior to giving effect to such combination, (2) prior to the
effectiveness of such combination, all UCC financing statements necessary to
maintain the validity, perfection and priority of the Borrower's ownership
interest in the Receivables and Related Rights (as defined in the Receivables
Sale Agreement) acquired or to be acquired from such Originator or Originators
under the Receivables Sale Agreement, and the Administrative Agent's security
interest therein, have been duly executed and filed in all necessary
jurisdictions, and (3) if the surviving entity in such combination(s) is not an
existing party to the Receivables Sale Agreement, all other documents required
to be delivered in connection with a Joinder

                                       63
<Page>

Agreement under the Receivables Sale Agreement have been duly executed and
delivered substantially contemporaneously with such combination(s).

     "PERSON" means an individual, partnership, corporation (including a
business trust), limited liability company, joint stock company, trust,
unincorporated association, joint venture or other entity, or a government or
any political subdivision or agency thereof.

     "PLAN" means an employee benefit plan (as defined in Section 3(3) of ERISA)
which Performance Guarantor or any of its ERISA Affiliates sponsors or maintains
or to which Performance Guarantor or any of its ERISA Affiliates makes, is
making, or is obligated to make contributions and includes any Pension Plan,
other than a Plan maintained outside the United States primarily for the benefit
of Persons who are not U.S. residents.

     "POOLED COMMERCIAL PAPER" means Commercial Paper notes of Blue Ridge
subject to any particular pooling arrangement by Blue Ridge, but excluding
Commercial Paper issued by Blue Ridge for a tenor and in an amount specifically
requested by any Person in connection with any agreement effected by Blue Ridge.

     "PRIME RATE" means a rate PER ANNUM equal to the prime rate of interest
announced from time to time by Wachovia (which is not necessarily the lowest
rate charged to any customer), changing when and as said prime rate changes.

     "PRO RATA SHARE" means, for each Liquidity Bank, a percentage equal to the
Commitment of such Liquidity Bank, divided by the Aggregate Commitment.

     "PROPOSED REDUCTION DATE" has the meaning set forth in Section 1.3.

     "PURCHASING LIQUIDITY BANK" has the meaning set forth in Section 12.1(b).

     "RATING AGENCY CONDITION" means that Blue Ridge has received notice from
S&P and Moody's that an amendment, a change or a waiver will not result in a
withdrawal or downgrade of the then current ratings on Blue Ridge's Commercial
Paper.

     "RECEIVABLE" means all indebtedness and other obligations owed to Borrower
or any Originator (at the time it arises, and before giving effect to any
transfer or conveyance under the Receivables Sale Agreement) or in which
Borrower or an Originator has a security interest or other interest, including,
any indebtedness, obligation or interest constituting an account, chattel paper,
instrument or general intangible, arising in connection with the sale of goods
or the rendering of services by an Originator, and further includes, the
obligation to pay any Finance Charges with respect thereto. Indebtedness and
other rights and obligations arising from any one transaction, including,
indebtedness and other rights and obligations represented by an individual
invoice, shall constitute a Receivable separate from a Receivable consisting of
the indebtedness and other rights and obligations arising from any other
transaction; provided further, that any indebtedness, rights or obligations
referred to in the immediately preceding sentence shall be a Receivable
regardless of whether the account debtor or Borrower treats such indebtedness,
rights or obligations as a separate payment obligation.

                                       64
<Page>

     "RECEIVABLES SALE AGREEMENT" means that certain Amended and Restated
Receivables Sale Agreement, dated as of August 19, 2002, among the Originators
and Borrower, as the same may be amended, restated or otherwise modified from
time to time.

     "RECORDS" means, with respect to any Receivable, all Contracts and other
documents, books, records and other information (including, computer programs,
tapes, disks, punch cards, data processing software and related property and
rights) relating to such Receivable, any Related Security therefor and the
related Obligor.

     "REDUCTION NOTICE" has the meaning set forth in Section 1.3.

     "REGULATORY CHANGE" means the adoption after the date hereof of any
applicable law, rule or regulation (including any applicable law, rule or
regulation regarding capital adequacy) or any change therein, or any change in
the interpretation or administration thereof by any governmental authority,
central bank or comparable agency charged with the interpretation or
administration thereof, or compliance with any request or directive (whether or
not having the force of law) of any such authority, central bank or comparable
agency.

     "RELATED SECURITY" means, with respect to any Receivable:

          (i) all of Borrower's interest in the inventory and goods (including
     returned or repossessed inventory or goods), if any, the sale of which by
     an Originator gave rise to such Receivable, and all insurance contracts
     with respect thereto,

          (ii) all other security interests or liens and property subject
     thereto from time to time, if any, purporting to secure payment of such
     Receivable, whether pursuant to the Contract related to such Receivable or
     otherwise, together with all financing statements and security agreements
     describing any collateral securing such Receivable,

          (iii) all guaranties, letters of credit, insurance and other
     agreements or arrangements of whatever character from time to time
     supporting or securing payment of such Receivable whether pursuant to the
     Contract related to such Receivable or otherwise,

          (iv) all service contracts and other contracts and agreements
     associated with such Receivable,

          (v) all Records related to such Receivable,

          (vi) all of Borrower's right, title and interest in, to and under the
     Receivables Sale Agreement in respect of such Receivable and all of
     Borrower's right, title and interest in, to and under the Performance
     Undertaking, and

          (vii) all proceeds of any of the foregoing.

     "REQUIRED LIQUIDITY BANKS" means, at any time, Liquidity Banks with
Commitments in excess of 66-2/3% of the Aggregate Commitment.

                                       65
<Page>

     "REQUIRED NOTICE PERIOD" means the number of days required notice set forth
below applicable to the Aggregate Reduction indicated below:

<Table>
<Caption>
                 Aggregate Reduction                        Required Notice Period
                 -------------------                        ----------------------
                 <S>                                        <C>
                 less than 25% of the                       two Business Days
                 Aggregate Commitment

                 greater than or equal to                   five Business Days
                 25% but less than 50% of the
                 Aggregate Commitment

                 greater than or equal to 50% of            10 Business Days
                 the Aggregate Commitment
</Table>

     "REQUIRED RESERVE" means, on any day during a Calculation Period, the
product of (a) the greater of (i) the Required Reserve Factor Floor and (ii) the
sum of the Loss Reserve, the Interest Reserve, the Dilution Reserve and the
Servicing Reserve, times (b) the Net Pool Balance as of the Cut-Off Date
immediately preceding such Calculation Period.

     "REQUIRED RESERVE FACTOR FLOOR" means, for any Calculation Period, the sum
(expressed as a percentage) of (a) 16.5% plus (b) the product of the Adjusted
Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the
immediately preceding Cut-Off Date.

     "RESPONSE DATE" has the meaning set forth in Section 1.8.

     "RESTRICTED JUNIOR PAYMENT" means (a) any dividend or other distribution,
direct or indirect, on account of any shares of any class of capital stock of
Borrower now or hereafter outstanding, except a dividend payable solely in
shares of that class of stock or in any junior class of stock of Borrower, (b)
any redemption, retirement, sinking fund or similar payment, purchase or other
acquisition for value, direct or indirect, of any shares of any class of capital
stock of Borrower now or hereafter outstanding, (c) any payment or prepayment of
principal of, premium, if any, or interest, fees or other charges on or with
respect to, and any redemption, purchase, retirement, defeasance, sinking fund
or similar payment and any claim for rescission with respect to the Subordinated
Loans (as defined in the Receivables Sale Agreement), (d) any payment made to
redeem, purchase, repurchase or retire, or to obtain the surrender of, any
outstanding warrants, options or other rights to acquire shares of any class of
capital stock of Borrower now or hereafter outstanding, and (e) any payment of
management fees by Borrower (except for reasonable management fees to any
Originator or its Affiliates in reimbursement of actual management services
performed).

     "S&P" means Standard and Poor's Ratings Services, a division of The McGraw
Hill Companies, Inc.

     "SCHEDULED TERMINATION DATE" means July 30, 2003, unless extended in
accordance with Section 1.8.

                                       66
<Page>

     "SECURED PARTIES" means the Indemnified Parties.

     "SERVICER" means at any time the Person (which may be the Administrative
Agent) then authorized pursuant to Article VIII to service, administer and
collect Receivables.

     "SERVICING FEE" means, for each day in a Calculation Period:

          (a) an amount equal to (i) the Servicing Fee Rate (or, at any time
     while Spherion or one of its Affiliates is the Servicer, such lesser
     percentage as may be agreed between the Borrower and the Servicer on an
     arms' length basis based on then prevailing market terms for similar
     services), TIMES (ii) the aggregate Outstanding Balance of all Receivables
     at the close of business on the Cut-Off Date immediately preceding such
     Calculation Period, TIMES (iii) 1/360; or

          (b) on and after the Servicer's reasonable request made at any time
     when neither Spherion nor any Affiliates thereof is acting as Servicer
     hereunder, an alternative amount specified by the successor Servicer not
     exceeding (i) 110% of such Servicer's reasonable costs and expenses of
     performing its obligations under this Agreement during the preceding
     Calculation Period, DIVIDED BY (ii) the number of days in the current
     Calculation Period.

     "SERVICING FEE RATE" means 1.0% PER ANNUM.

     "SERVICING RESERVE" means, for any Calculation Period, the product
(expressed as a percentage) of (a) the Servicing Fee Rate, TIMES (b) a fraction,
the numerator of which is the highest Days Sales Outstanding for the most recent
12 Calculation Periods and the denominator of which is 360.

     "SETTLEMENT DATE" means (a) the 2nd Business Day after each Monthly
Reporting Date, and (b) the last day of the relevant Interest Period in respect
of each Loan of the Liquidity Banks.

     "SETTLEMENT PERIOD" means (a) in respect of each Loan of Blue Ridge, the
immediately preceding Calculation Period, and (b) in respect of each Loan of the
Liquidity Banks, the entire Interest Period of such Loan.

     "SUBSIDIARY" of a Person means (a) any corporation more than 50% of the
outstanding securities having ordinary voting power of which shall at the time
be owned or controlled, directly or indirectly, by such Person or by one or more
of its Subsidiaries or by such Person and one or more of its Subsidiaries, or
(b) any partnership, association, limited liability company, joint venture or
similar business organization more than 50% of the ownership interests having
ordinary voting power of which shall at the time be so owned or controlled.

     "TAX CODE" means the Internal Revenue Code of 1986, as the same may be
amended from time to time.

     "TERMINATING TRANCHE" has the meaning set forth in Section 4.3(b).

                                       67
<Page>

     "TRANSACTIONS" means the transactions contemplated by this Agreement.

     "TRANSACTION DOCUMENTS" means, collectively, this Agreement, each Borrowing
Notice, the Receivables Sale Agreement, each Collection Account Agreement, the
Performance Undertaking, the Fee Letter, each Subordinated Note (as defined in
the Receivables Sale Agreement) and all other instruments, documents and
agreements executed and delivered in connection herewith.

     "UCC" means the Uniform Commercial Code as from time to time in effect in
the specified jurisdiction.

     "UNMATURED AMORTIZATION EVENT" means an event which, with the passage of
time or the giving of notice, or both, would constitute an Amortization Event.

     "WACHOVIA" means Wachovia Bank, National Association in its individual
capacity and its capacity as agent.

     "WORLDCOM" means Worldcom, Inc., a Georgia corporation.

                                       68

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