Document:

Exhibit 10.1

 

AGREEMENT

 

THIS AGREEMENT
(this “Agreement”), dated as of
February 18, 2003, is among CARRIAGE SERVICES, INC., a Delaware corporation
(the “Company”), and MARK F.
WILSON (“Wilson”), WENDY WILSON
BOYER (“Boyer”), and WARREN A.
BROWN, IV (“Brown”).

 

W I T N E S S E T H:

 

WHEREAS,
pursuant to the Agreement and Plan of Merger dated October 17, 1996 (the “Merger Agreement”) among the Company,
Carriage Funeral Services of California, Inc., a California corporation and
wholly owned subsidiary of the Company (the
“               Acquisition Subsidiary”), CNM, a California
corporation (“CNM”), Wilson,
Boyer, Brown and certain entities affiliated with them who collectively owned
all of the outstanding stock of CNM (all of whom are hereafter referred to together
as the
“               Shareholders”), CNM was merged with and
into the Acquisition Subsidiary, which survived such merger; and

 

WHEREAS, a
portion of the consideration which the Shareholders received in such merger
consisted of shares of the Company’s Series F Preferred Stock, $.01 par value
(“Series F Preferred Stock”),
which were governed by the Certificate of Designation, Preferences, Rights and
Limitations for the Series F Preferred Stock filed with the Secretary of State
of Delaware (as amended, the “Series F
Designation”); and

 

WHEREAS,
Section 6(b) of the Series F Designation conferred upon the Shareholders, as
holders of the Series F Preferred Stock, certain special voting rights,
including the right to vote for the election of Wilson to the Company’s Board
of Directors, and Section 4.2(b) of the Merger Agreement contemplated that
Wilson would be elected as a Class III Director of the Company, and in fact
Wilson was so appointed to the Board, at the closing of such merger on January
7, 1997; and

 

WHEREAS,
Wilson has since served continuously on the Company’s Board of Directors, and
at the 2001 annual meeting of stockholders, Wilson was reclassified as a Class
I Director; and

 

WHEREAS, the
terms of the current Class I Directors, including Wilson, expire at the 2003
annual meeting of stockholders, currently contemplated to occur on or about May
13, 2003, and Wilson, Boyer and Brown have agreed that Wilson’s name will not
be placed in nomination for election as a Class I Director at the 2003 annual
meeting of stockholders and to therefore temporarily waive their rights under
the Series F Designation, subject to the Board visitation rights and the
Company’s agreement to place Wilson’s name in nomination to rejoin the Board in
2004, on the terms and conditions hereafter set forth;

 

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

 

1.                                       Waiver of Special Voting Right.  Wilson, Boyer and Brown hereby agree that
Wilson will not be nominated for, and will not stand for election as, a Class I
Director at the 2003 

 

 

annual meeting of stockholders, with the understanding that upon
recommendation of the Board’s Corporate Governance Committee and by resolution
of the full Board of Directors, the Board will nominate and recommend for
approval individuals other than Wilson to be elected as Class I Directors at
the 2003 meeting of stockholders. 
Therefore, Wilson’s term of office as a Class I Director will expire
upon the 2003 meeting of stockholders. 
Wilson, Boyer and Brown hereby 
waive the provisions of Section 6(b) of the Series F Designation to the
extent necessary to implement the foregoing.

 

2.                                       Board Visitation Right.  After Wilson’s term of office expires as
described above and through the 2004 annual meeting of stockholders, Wilson
shall be entitled to receive notice of and attend regular and special meetings
of the Company’s full Board of Directors, whether such meetings are held in
person, by telephone or by other electronic means.  Wilson will not have any voting rights or other position or
rights customarily associated with Board membership, nor will Wilson be
entitled to receive any fees or other compensation paid to directors as
authorized by the Board.  Wilson will
receive copies of so-called board books or other similar materials distributed
to directors in connection with such meetings. 
Wilson will be entitled to reimbursement of his out-of-pocket costs in
attending such Board meetings, including travel, meals and lodging, consistent
with Company policy concerning such matters.

 

3.                                       Special Trading Policy.  Wilson acknowledges that by attending Board
meetings or receiving materials related thereto, even though he will not be a
director, he may have access to material inside information concerning the
business, properties, operations, financial position and results of operations,
prospects and other matters concerning the Company that are confidential or
sensitive in nature and which may not have been released to the public.  Consequently, Wilson acknowledges that his
right to attend these meetings and to receive such materials may subject him to
certain legal obligations with respect to any trading activity in shares of the
Company’s stock.  As long as Wilson has
such rights and does not affirmatively terminate such rights by sending written
notice to the Company’s Chief Executive Officer, Wilson will remain subject to
the Company’s Special Trading Procedures Policy and other similar policies
applicable to the Company’s insiders.

 

4.                                       Nomination as Class II Director.  Effective with the 2004 annual meeting of
stockholders, the rights of the Shareholders under Section 6(b) of the Series F
Designation will (subject to the continued effectiveness of such provision)
will be reinstated.  The Company
therefore agrees that the Board of Directors shall place Wilson’s name in
nomination for election as a Class II Director at the 2004 annual meeting of
stockholders and will recommend to the stockholders that they vote their shares
in favor of his election.  If a vacancy
in a Class II Director position then exists, then Wilson will be nominated to
fill that vacancy; otherwise, the Board will increase the number of positions
on the Board so as to create such a vacancy. 
The Company will use no less efforts in soliciting stockholders to vote
their shares in favor of Wilson’s election as any other nominees for Class II
Directors at the 2004 annual meeting. 
The foregoing shall be subject to the “Minimum Investment” and other
conditions and criteria set forth in Section 6(b) of the Series F Designation.

 

5.                                       Miscellaneous.  This Agreement may not be assigned by any
party without the prior written consent of the other parties.  Subject to the foregoing, this Agreement
shall be binding upon 

 

2

 

and inure to the benefit of the parties hereto and their respective
heirs, successors and assigns.  Wilson,
Boyer and Brown sign this Agreement for themselves and for the other
Shareholders and any other affiliated entities who currently hold Company
Common Stock.  This Agreement may not be
amended except pursuant to a written instrument signed by the Company and
Wilson.  This Agreement may be executed in
counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument.

 

IN WITNESS
WHEREOF, the parties have duly executed this Agreement as of the date first
above written.

 

 

	
   

  	
  CARRIAGE
  SERVICES, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  MELVIN C. PAYNE, Chairman of the Board

  and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MARK F.
  WILSON

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WENDY WILSON
  BOYER

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WARREN A.
  BROWN, IV

  

 

3Ex. 10.1

 

FIFTH AMENDMENT

 

THIS FIFTH
AMENDMENT (this “Amendment”) dated as of March 21, 2003 to the Credit
Agreement referenced below is by and among Medical Staffing Network, Inc., a
Delaware corporation (the “Borrower”), Medical Staffing Holdings, LLC, a
Delaware limited liability company (the “Parent”), the Subsidiaries of
the Borrower identified as “Guarantors” on the signature pages hereto (together
with the Parent, the “Guarantors”), the Lenders identified on the
signature pages hereto and Bank of America, N.A., as Administrative Agent.

 

W I T N E S S E T H

 

WHEREAS, a
$120 million credit facility has been extended to the Borrower pursuant to the
terms of that Credit Agreement (as amended, modified and supplemented from time
to time, the “Credit Agreement”) dated as of October 26, 2001 among the
Borrower, the Guarantors, the Lenders, LaSalle Bank, National Association, as
syndication agent, and General Electric Capital Corporation, Barclays Bank,
PLC, and Antares Capital Corporation, as co-documentation agents, and Bank of
America, N.A., as Administrative Agent;

 

WHEREAS, the
Borrower has requested certain modifications to the Credit Agreement;

 

WHEREAS, the
requested modifications require the approval of the Required Lenders; and

 

WHEREAS, the
Required Lenders have agreed to the requested modifications on the terms and
conditions set forth herein.

 

NOW,
THEREFORE, IN CONSIDERATION of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:

 

1.             Capitalized Terms.  Capitalized terms used herein but not
otherwise defined herein shall have the meanings provided to such terms in the
Credit Agreement.

 

2.             Amendments.

 

(a)           The following definitions in Section
1.1 of the Credit Agreement are amended to read as follows:

 

“Commitments” means the commitment of each Lender with respect
to the Revolving Committed Amount and the Tranche A-1 Term Loan Committed
Amount, the Tranche A-2 Term Loan Committed Amount and the commitment of the
Swing Line Lender with respect to the Swing Line Committed Amount.

 

“Effective Date” means (a) solely for purposes of Section 2.4,
the date specified in the applicable New Commitment Agreement(s) and (b) for
all other purposes, July 5, 2002, the effective date of Amendment No. 2 to this
Credit Agreement.

 

“Principal Amortization Payment” means (a) a principal payment
on the Tranche A-1 Term Loans as set forth in Section 2.3(c) and (b) a
principal payment on the Tranche A-2 Term Loans as set forth in Section 2.4(c).

 

“Tranche A Term Loan Commitment Percentage”
means, for each Lender, the Tranche A-1 Term Loan Commitment Percentage and/or
the Tranche A-2 Term Loan Commitment Percentage, as the context requires.

 

“Tranche A Term Loan Committed Amount”
means the Tranche A-1 Term Loan Committed Amount and/or the Tranche A-2 Term Loan Committed Amount, as the
context requires.

 

“Tranche A Term Loans” means the
Tranche A-1 Term Loans and/or the Tranche A-2 Term Loans, as the context
requires.

 

“Tranche A Term Note” or “Tranche A
Term Notes” means the Tranche A-1 Term Note(s) and/or the Tranche A-2 Term
Note(s), as the context requires.

 

(b)           The following definitions are added
to Section 1.1 of the Credit Agreement:

 

“New Commitment Agreement” means a New
Commitment Agreement in the form of Exhibit 2.4(e) hereto.

 

“Tranche A-1 Term Loan Commitment
Percentage” means, for each Lender, the percentage identified as its
Tranche A-1 Term Loan Commitment Percentage on Schedule 1.1(a), as such
percentage may be modified in connection with any assignment made in accordance
with the provisions of Section 11.3.

 

“Tranche A-1 Term Loan Committed Amount”
means SEVENTY-SEVEN MILLION DOLLARS ($77,000,000).

 

“Tranche A-1 Term Loans” means the
Tranche A-1 Term Loans made to the Borrower pursuant to Section 2.3.

 

“Tranche A-1 Term Note” or “Tranche
A-1 Term Notes” means the promissory notes of the Borrower in favor of each
of the Lenders evidencing the Tranche Tranche A-1 Term Loans provided pursuant
to Section 2.3, individually or collectively, as appropriate, as such
promissory notes may be amended, modified, supplemented, extended, renewed or
replaced from time to time and as evidenced in the form of Exhibit 2.3(d).

 

“Tranche A-2 Term Loan Commitment
Percentage” means as of any date of determination for each Lender the
percentage obtained by dividing the Tranche A-2 Term Loan Commitment of such
Lender by the Tranche A-2 Term Loan Committed Amount, as such percentage may be
modified in connection with any assignment made in accordance with the
provisions of Section 11.3.

 

“Tranche A-2 Term Loan Commitment”
means, with respect to each Lender, the commitment of such Lender to make
Tranche A-2 Term Loans to the Borrower at the time and in the amount specified
in its New Commitment Agreement.

 

“Tranche A-2 Term Loan Committed Amount”
means the lesser of (a) the sum of the Tranche A-2 Term Loan Commitments of all
the Lenders and (b) THIRTEEN MILLION DOLLARS ($13,000,000).

 

“Tranche A-2 Term Loans” means the
Tranche A-2 Term Loans made to the Borrower pursuant to Section 2.4.

 

“Tranche A-2 Term Note” or “Tranche
A-2 Term Notes” means the promissory notes of the Borrower in favor of each
of the Lenders evidencing the Tranche A-2 Term Loans provided pursuant to
Section 2.4, individually or collectively, as appropriate, as such promissory
notes may be amended, modified, supplemented, extended, renewed or replaced
from time to time and as evidenced in the form of Exhibit 2.4(d).

 

(c)           Schedule
1.1(a) to the Credit Agreement is amended in its entirety to read as set
forth in Schedule 1.1(a) attached hereto.

 

(d)           New
Exhibits 2.4(d) and 2.4(e) are hereby added to the Credit
Agreement to read as set forth in Exhibit 2.4(d) and Exhibit 2.4(e)
attached hereto.

 

(e)           All
references in Exhibit 2.4(d), Exhibit 2.6 and Exhibit 11.3(b)
to the Credit Agreement to “Tranche B Term Loan” and “Tranche B Term Loans” are
hereby amended to read as “Tranche A-2 Term Loan” and “Tranche A-2 Term Loans”,
respectively.

 

(f)            All
references in Section 2.3 of the Credit Agreement and in Exhibit 2.6 and
Exhibit 11.3(b) to the Credit Agreement to “Tranche A Term Loan”,
“Tranche A Term Loans”, “Tranche A Term Loan Commitment Percentage”, “Tranche A
Term Loan Committed Amount”, “Tranche A Term Note” and “Tranche A Term Notes”
are hereby amended to read as “Tranche A-1 Term Loan”, “Tranche A-1 Term
Loans”, “Tranche A-1 Term Loan 

 

2

Commitment Percentage”, “Tranche A-1 Term Loan Committed Amount”,
“Tranche A-1 Term Note” and “Tranche A-1 Term Notes”, respectively.

 

(g)           Section 2.3(c) of the Credit
Agreement is amended to read as follows:

 

(c)           Amortization.  The principal amount of the Tranche A-1 Term
Loans shall be repaid in quarterly installments in the amounts and on the dates
set forth below:

 

	
  Payment
  Date

  	
   

  	
  Payment Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  March 31, 2003

  	
   

  	
  $2,598,750

  	
   

  
	
  June 30, 2003

  	
   

  	
  $2,598,750

  	
   

  
	
  September 30, 2003

  	
   

  	
  $2,598,750

  	
   

  
	
  December 31, 2003

  	
   

  	
  $2,598,750

  	
   

  
	
  March 31, 2004

  	
   

  	
  $5,486,250

  	
   

  
	
  June 30, 2004

  	
   

  	
  $5,486,250

  	
   

  
	
  September 30, 2004

  	
   

  	
  $5,486,250

  	
   

  
	
  December 31, 2004

  	
   

  	
  $5,486,250

  	
   

  
	
  March 31, 2005

  	
   

  	
  $7,170,625

  	
   

  
	
  June 30, 2005

  	
   

  	
  $7,170,625

  	
   

  
	
  September 30, 2005

  	
   

  	
  $7,170,625

  	
   

  
	
  December 31, 2005

  	
   

  	
  $7,170,625

  	
   

  
	
  March 31, 2006

  	
   

  	
  $3,994,375

  	
   

  
	
  June 30, 2006

  	
   

  	
  $3,994,375

  	
   

  
	
  September 30, 2006

  	
   

  	
  $3,994,375

  	
   

  
	
  October 26, 2006

  	
   

  	
  Outstanding Principal Balance of the Tranche A-1 Term Loan

  	
   

  

 

(h)           A new Section 2.4 is added to the
Credit Agreement to read as follows:

 

2.4           Tranche A-2 Term Loans.

 

                                                                (a)           Tranche A-2 Term Loan.  Subject to the terms and conditions set
forth herein (including Section 2.4(e) below), each Lender severally agrees to
make available to the Borrower from time to time prior to December 31, 2003 on
the applicable Effective Date a term loan (collectively, the “Tranche A-2 Term
Loans”) to the Borrower, in Dollars, in an amount equal to such Lender’s
Tranche A-2 Term Loan Commitment; provided that the aggregate amount of
all such Tranche A-2 Term Loans made shall not exceed the Tranche A-2 Term Loan
Committed Amount.  Once repaid, Tranche
A-2 Term Loans cannot be reborrowed.

 

                                                                (b)           Funding of Tranche A-2 Term Loans.  On the applicable Effective Date, each
applicable Lender will make its applicable Tranche A-2 Term Loan Commitment
available to the Administrative Agent by deposit, in Dollars and in immediately
available funds, at the offices of the Administrative Agent at its principal
office in Charlotte, North Carolina or at such other address as the
Administrative Agent may designate in writing. 
The amount of such Tranche A-2 Term Loans will then be made available to
the Borrower by the Administrative Agent by crediting the account of the
Borrower on the books of such office of the Administrative Agent, to the extent
the amount of such Tranche A-2 Term Loans are made available to the
Administrative Agent.  Tranche A-2 Term
Loans may be made as Eurodollar Loans or Base Rate Loans.

 

                                                                No
Lender shall be responsible for the failure or delay by any other Lender in its
obligation to make a Tranche A-2 Term Loan hereunder; provided, however,
that the failure of any Lender to fulfill its obligations hereunder shall not
relieve any other Lender of its obligations hereunder.  If the Administrative Agent shall have
received an executed New Commitment Agreement (whether an original or via telecopy)
from a Lender, the Administrative Agent may assume that such Lender has or will
make the amount of its Tranche A-2 Term Loans available to the Administrative
Agent on the applicable Effective Date, and the Administrative Agent in
reliance upon such assumption, may (in its sole discretion but without any
obligation to do so) make available 

 

3

 

to the Borrower a corresponding
amount.  If such corresponding amount is
not in fact made available to the Administrative Agent, the Administrative
Agent shall be able to recover such corresponding amount from such Lender.  If such Lender does not pay such
corresponding amount forthwith upon the Administrative Agent’s demand therefor,
the Administrative Agent will promptly notify the Borrower, and the Borrower
shall immediately pay such corresponding amount to the Administrative
Agent.  The Administrative Agent shall
also be entitled to recover from the Lender or the Borrower, as the case may
be, interest on such corresponding amount in respect of each day from the date
such corresponding amount was made available by the Administrative Agent to the
Borrower to the date such corresponding amount is recovered by the
Administrative Agent at a per annum rate equal to (i) from the Borrower at the
applicable rate for such Tranche A-2 Term Loan and (ii) from a Lender at the
Federal Funds Rate if paid within two Business Days of the date of drawing and
thereafter at a rate equal to the Base Rate.

 

(c)           Amortization.   The principal amount of the Tranche A-2
Term Loans shall be repaid in quarterly payments on the dates set forth below:

 

	
  Principal
  Amortization Payment

  Dates

  	
   

  	
  Tranche A-2 Term Loan Principal Amortization Payment Amount
  (expressed as a percentage of outstanding Tranche A-2 Term Loans outstanding
  on December 31, 2003)

  	
   

  
	
   

  	
   

  	
   

  
	
  March 31, 2004

  	
   

  	
  7.5

  	
  %

  
	
  June 30, 2004

  	
   

  	
  7.5

  	
  %

  
	
  September 30, 2004

  	
   

  	
  7.5

  	
  %

  
	
  December 31, 2004

  	
   

  	
  7.5

  	
  %

  
	
  March 31, 2005

  	
   

  	
  7.5

  	
  %

  
	
  June 30, 2005

  	
   

  	
  7.5

  	
  %

  
	
  September 30, 2005

  	
   

  	
  7.5

  	
  %

  
	
  December 31, 2005

  	
   

  	
  7.5

  	
  %

  
	
  March 31, 2006

  	
   

  	
  10

  	
  %

  
	
  June 30, 2006

  	
   

  	
  10

  	
  %

  
	
  September 30, 2006

  	
   

  	
  10

  	
  %

  
	
  October 26, 2006

  	
   

  	
  Outstanding Principal Balance of the Tranche A-2 Term Loan

  
					

 

(d)           Tranche
A-2 Term Notes.  The portion of the Tranche A-2 Term Loan made by each Lender shall be
evidenced by a duly executed promissory note of the Borrower to such Lender in
an original principal amount equal to such Lender’s Tranche A-2 Term Loan
Commitment and substantially in the form of Exhibit 2.4(d).

 

(e)           Additional
Procedures for Requesting Tranche A-2 Term Loans.  The Borrower may at any time and from time to time
prior to December 31, 2003, upon prior written notice by the Borrower to the
Administrative Agent, request borrowings of 
Tranche A-2 Term Loans in an aggregate amount not to exceed the Tranche
A-2 Term Loan Committed Amount from any existing Lender or from any other
Person reasonably acceptable to the Administrative Agent; provided that:

 

(i)            any such borrowing
shall be in a minimum principal amount of $5 million and in integral multiples of
$1 million in excess thereof;

 

(ii)           no
Default or Event of Default shall be continuing at the time of any such
borrowing;

 

(iii)          prior
to any such borrowing the Borrower shall have delivered to the Administrative
Agent a certificate of its chief financial officer demonstrating that the ratio
of (A) Funded Indebtedness of the Credit Parties and their Subsidiaries on a
consolidated basis on the date of such borrowing (including, for purposes
hereof, the amount of such borrowing) to (B) 

 

4

 

EBITDA for the period of the four fiscal quarters most recently ended
for which the Borrower has delivered financial statements pursuant to Section
7.1(a) or (b), is less than 2.0 to 1.0;

 

(iv)          no
existing Lender shall be under any obligation to issue a Tranche A-2 Term Loan
Commitment and any such decision whether to issue a Tranche A Term Loan
Commitment shall be in such Lender’s sole and absolute discretion; and

 

(v)           the
Borrower and such lender shall have executed and delivered to the
Administrative Agent a New Commitment Agreement.

 

                (i)            Voluntary
Prepayments.  The phrase “any
prepayment of the Tranche A Term Loan shall be applied ratably to the remaining
Principal Amortization Payments thereof” 
in Section 3.3(a) of the Credit Agreement is hereby amended to read as
“any prepayment of the Tranche A-1 Term Loan or the Tranche A-2 Term
Loan shall be applied ratably to the Tranche A-1 Term Loan and the
Tranche A-2 Term Loan (in each case ratably to the remaining Principal Amortization
Payments thereof)”.

 

                (j)            Mandatory
Prepayments.  The phrases “to the
Tranche A Term Loans (to the remaining Principal Amortization Payments in
inverse order of maturities thereof)” 
and “and Tranche A Term Loans (to the remaining Principal Amortization
Payments in inverse order of maturities thereof)” in Section 3.3(c) of the
Credit Agreement are hereby amended to read as “ratably to the Tranche A-1 Term
Loans (to the remaining Principal Amortization Payments in inverse order of
maturities thereof) and the Tranche A-2 Term Loans (to the remaining Principal
Amortization Payments in inverse order of maturities thereof)” and “, Tranche
A-1 Term Loans (to the remaining Principal Amortization Payments in inverse
order of maturities thereof) and the Tranche A-2 Term Loans (to the remaining
Principal Amortization Payments in inverse order of maturities thereof)”,
respectively.

 

(k)           Section 7.11(c) of the Credit
Agreement is amended to read as follows:

 

(c)           EBITDA.  EBITDA, as of the end of each fiscal quarter
of the Borrower, for each period set forth below shall not be less than (i)
$40,000,000 for the twelve month period ending March 31, 2003, (ii) $40,000,000
for the twelve month ending June 30, 2003, (iii) $40,000,000 for the twelve
month period ending September 30, 2003, (iv) $40,000,000 for the twelve month
period ending December 31, 2003 and (v) $50,000,000 for each twelve month
period thereafter.

 

                3.             Covenants.  The Credit Parties covenant and agree to
furnish to the Administrative Agent (a) by no later than April 26, 2003 an
opinion of counsel to the Credit Parties with respect to this Amendment in form
and substance reasonably satisfactory to the Administrative Agent and (b) by no
later than March 25, 2003 original counterparts to this Amendment duly executed
by the Credit Parties.  The failure to
comply with the covenant in this Section 3 shall constitute an immediate Event
of Default.

 

4.             Conditions
Precedent.  This
Amendment shall become effective immediately upon receipt by the Administrative
Agent of each of the following, in form and substance satisfactory to the
Administrative Agent:

 

(a)           counterparts of this
Amendment duly executed by the Credit Parties;

 

(b)           counterparts of this
Amendment duly executed by the requisite Lenders;

 

(c)           new Tranche A-1 Term
Notes in favor of each of the Lenders duly executed by the Borrower;

 

(d)           certified copies of
resolutions of the board of directors of each of the Credit Parties approving
this Amendment and authorizing the execution and delivery hereof; and

 

(e)           payment by the
Borrower of all fees and expenses owing to the Administrative Agent and the
Lenders in connection with this Amendment.

 

5

 

                5.             Reaffirmation
of Representations and Warranties. 
The Borrower affirms that the representations and warranties set forth
in the Credit Agreement and the other Credit Documents (as hereby amended) are
true and correct as of the date hereof (except those that expressly relate to
an earlier period).

 

                6.             Reaffirmation of Guaranty.  Each
Guarantor (i) acknowledges and consents to all of the terms and conditions of
this Amendment, (ii) affirms all of its obligations under the Credit Documents
and (iii) agrees that this Amendment and all documents executed in connection
herewith do not operate to reduce or discharge such Guarantor’s obligations
under the Credit Agreement or the other Credit Documents.

 

                7.             Reaffirmation
of Security Interests.  The Borrower
and each Guarantor (i) affirms that each of
the Liens granted in or pursuant to the Credit Documents are valid and
subsisting and (ii) agrees that this Amendment shall in no manner impair or
otherwise adversely effect any of the Liens granted in or pursuant to the
Credit Documents.

 

                8.             No
Other Changes.  Except as modified
hereby, all of the terms and provisions of the Credit Agreement and the other
Credit Documents (including schedules and exhibits thereto) shall remain in
full force and effect.

 

                9.             Counterparts.  This Amendment may be executed in any number
of counterparts, each of which when so executed and delivered shall be deemed
an original and it shall not be necessary in making proof of this Amendment to
produce or account for more than one such counterpart.  Delivery of an executed counterpart of this
Amendment by telecopy by any party hereto shall be effective as such party’s
original executed counterpart and shall constitute a representation that such
party’s original executed counterpart will be delivered.

 

                10.           No
Novation.  The execution and delivery of this Amendment shall not constitute a
novation of any indebtedness or other obligations owing to the Lenders under
the Credit Agreement based on any facts or events occurring or existing prior
to the execution and delivery of this Amendment. On the date hereof, the credit
facilities described in the Credit Agreement shall be amended and supplemented
as described in this Amendment, and all loans and other obligations of the
Borrower and Guarantors outstanding as of the date hereof under the Credit
Agreement shall be deemed to be loans and obligations outstanding under the
Credit Agreement as amended, without further action by any Person.

 

                11.           Governing
Law.  This Amendment shall be deemed
to be a contract made under, and for all purposes shall be construed in accordance
with, the laws of the State of New York.

 

[Signature Pages Follow]

 

6

 

                IN WITNESS WHEREOF, each of the parties
hereto has caused a counterpart of this Amendment to be duly executed and
delivered as of the date first above written.

 

	
  BORROWER:

  	
   

  	
   

  	
  MEDICAL STAFFING NETWORK, INC.,

  
	
   

  	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Jeff Jacobsen

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Jeff Jacobsen

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  GUARANTORS:

  	
   

  	
   

  	
  MEDICAL STAFFING HOLDINGS, LLC,

  
	
   

  	
   

  	
   

  	
  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Medical Staffing Network Holdings, Inc.

  
	
   

  	
   

  	
   

  	
   

  	
  (formerly known as MSN Holdings, Inc.),

  
	
   

  	
   

  	
   

  	
   

  	
  a Delaware corporation, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Kevin Little

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Kevin Little

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  CFO

  

 

 

[Signature
Pages Continue]

 

7

 

	
  AGENT:

  	
   

  	
   

  	
  BANK OF AMERICA, N.A., in its capacity as Administrative Agent

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Suzeanna Wan

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Suzeanna Wan

  
	
   

  	
   

  	
   

  	
  Title:

  	
  AVP

  
	
   

  	
   

  	
   

  	
   

  
	
  LENDERS:

  	
   

  	
   

  	
  BANK OF AMERICA, N.A., in its capacity as a Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Larry J. Gordon

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Larry J. Gordon

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Principal

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  LASALLE BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Jody Staszesky

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Jody Staszesky

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  GENERAL ELECTRIC CAPITAL CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Jay Sepanski

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Jay Sepanski

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Duly Authorized Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  ANTARES CAPITAL CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  JP MORGAN CHASE BANK, as trustee of the

  
	
   

  	
   

  	
   

  	
  ANTARES FUNDING TRUST created under

  
	
   

  	
   

  	
   

  	
  the Trust Agreement dated as of November 30, 1999

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Jim Ely

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  JPMORGAN CHASE BANK

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Jim Ely

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
						

 

 

[Signature
Pages Continue]

 

8

 

	
   

  	
  VAN KAMPEN PRIME RATE INCOME TRUST

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Van Kampen Investment Advisory Corp.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Brad Langs

  
	
   

  	
   

  	
  Name:

  	
  Brad Langs

  
	
   

  	
   

  	
  Title:

  	
  Executive Director

  
	
   

  	
   

  	
   

  
	
   

  	
  VAN KAMPEN SENIOR INCOME TRUST

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Van Kampen Investment Advisory Corp.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Brad Langs

  
	
   

  	
   

  	
  Name:

  	
  Brad Langs

  
	
   

  	
   

  	
  Title:

  	
  Executive Director

  
	
   

  	
   

  	
   

  
	
   

  	
  VAN KAMPEN SENIOR FLOATING RATE FUND

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Van Kampen Investment Advisory Corp.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Brad Langs

  
	
   

  	
   

  	
  Name:

  	
  Brad Langs

  
	
   

  	
   

  	
  Title:

  	
  Executive Director

  
	
   

  	
   

  	
   

  
	
   

  	
  MARINER CDO 2002, LTD.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
						

 

9

 

Schedule 1.1(a)

 

COMMITMENT
PERCENTAGES

 

	
  Notice Address

  	
   

  	
  Revolving
  Commitment

  	
   

  	
  Revolving
  Loan Commitment Percentage

  	
   

  	
  Tranche
  A-1 Term Loan Commitment

  	
   

  	
  Tranche
  A-1 Term Loan Commitment Percentage

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bank of America, N.A.

  	
   

  	
  $

  	
  3,500,000

  	
   

  	
  23.333333333

  	
  %

  	
  $

  	
  0

  	
   

  	
  0

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operations Contact

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bank of America, N.A. 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  101 N. Tryon Street, 15th
  Floor  NC1-001-15-04

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Charlotte, NC 28255

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn:  Lynne Cole, Agency Services

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone:  704-386-9068

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 704-409-0003

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit Contact

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bank of America, N.A.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  100 North Tryon Street, 13th Floor

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mail Code:  NC1-007-13-06

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Charlotte, NC  28255-0001

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Larry Gordon

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 
  704-388-1115

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 704-409-0563

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bank of America, N.A. 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  100 North Tryon Street, 13th Floor 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mail Code:  NC1-007-13-06

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Charlotte, NC  28255-0001

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Molly Schugel

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 
  704-386-7745

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 704-409-0176

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
												

 

10

 

	
  Notice Address

  	
   

  	
  Revolving
  Commitment

  	
   

  	
  Revolving
  Loan Commitment Percentage

  	
   

  	
  Tranche
  A-1 Term Loan Commitment

  	
   

  	
  Tranche
  A-1 Term Loan Commitment Percentage

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  General Electric Capital Corporation

  	
   

  	
  $

  	
  4,000,000

  	
   

  	
  26.666666667

  	
  %

  	
  $

  	
  19,750,000

  	
   

  	
  25.649350649

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operations Contact:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  General Electric Capital Corporation

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  500 West Monroe Street

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chicago, IL 60611

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Todd Linehan

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 312-441-6767

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 312-441-7367

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit Contact

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  General Electric Capital Corporation

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  500 West Monroe Street, 29th
  Floor

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chicago, IL 60611

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Sophia Taylor

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 
  312-441-7196

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 312-441-7598

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  LaSalle Bank National Association

  	
   

  	
  $

  	
  2,500,000

  	
   

  	
  16.666666667

  	
  %

  	
  $

  	
  17,750,000

  	
   

  	
  23.051948052

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operations Contact

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  LaSalle Bank National Association

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  135 South LaSalle Street, Suite 1425

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chicago, IL 60603

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Margaret Henderson

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 
  312-904-1254

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 312-904-6373

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit Contact

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  LaSalle Bank National Association

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  135 South LaSalle Street, Suite 826

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chicago, IL 60603

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Dana Friedman

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 
  312-904-6583

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 312-904-6457

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

11

 

	
  Notice Address

  	
   

  	
  Revolving
  Commitment

  	
   

  	
  Revolving
  Loan Commitment Percentage

  	
   

  	
  Tranche
  A-1 Term Loan Commitment

  	
   

  	
  Tranche
  A-1 Term Loan Commitment Percentage

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Antares Capital Corporation

  	
   

  	
  $

  	
  2,500,000

  	
   

  	
  16.666666667

  	
  %

  	
  $

  	
  6,750,000

  	
   

  	
  8.766233766

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operations Contact

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Antares Capital Corporation

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  311 S. Wacker Drive, Suite 6400

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chicago, IL 60606

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Joyce King

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 
  312-697-3919

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 312-697-3980

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit Contact

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Antares Capital Corporation

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  311 S. Wacker Drive, Suite 6400

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chicago, IL 60606

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aatn: 
  Kristin Piper

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 
  312-697-3922

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 312-697-3998

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Antares Funding Trust

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  $

  	
  3,000,000

  	
   

  	
  3.896103896

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operations Contact

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Antares Funding Trust

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chase Manhattan Bank

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  600 Travis, 48th Floor

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Houston, TX 77002

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Leslie Hundley

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 
  713-216-0540

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 713-216-3572

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit Contact

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Antares Funding Trust

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  311 South Wacker Drive, Suite 6400

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chicago, IL 60606

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Kristin Clark

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 
  312-697-3922

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 312-697-3998

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
												

 

12

 

	
  Notice Address

  	
   

  	
  Revolving
  Commitment

  	
   

  	
  Revolving
  Loan Commitment Percentage

  	
   

  	
  Tranche
  A-1 Term Loan Commitment

  	
   

  	
  Tranche
  A-1 Term Loan Commitment Percentage

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  JP Morgan Chase Bank  

  	
   

  	
  $

  	
  2,500,000

  	
   

  	
  16.666666666

  	
  %

  	
  $

  	
  9,000,000

  	
   

  	
  11.688311688

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operations Contact

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  JP Morgan Chase Bank

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  One Chase Manhattan Plaza, 8th
  Floor 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  New York, NY 10081

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Christopher Gomes

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 212-552-7326 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 
  212-552-7500

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit Contact 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  JP Morgan Chase Bank 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  270 Park Avenue, 48th Floor 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  New York, NY 10017

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn: 
  Jim Ely

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone: 
  212-270-6278

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 
  212-270-3279

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Van Kampen Prime Rate Income
  Trust   

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  $

  	
  6,187,500

  	
   

  	
  8.035714286

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operations Contact:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Van Kampen  

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  One Parkview Plaza
  

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Oakbrook Terrace, IL 60181
  

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attention:  Brian Buscher/Brad Lang  

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone:  630-684-6283/6923  

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile:  630-684-6023   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit Contact:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  State Street Bank & Trust
  Corporate Trust Department  

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  P.O. Box 778  Boston, MA 02102  

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn:  Kevin Cedorchuck  

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone:  617-662-1229  

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile:  617-988-9670

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
												

 

13

 

	
  Notice Address

  	
   

  	
  Revolving
  Commitment

  	
   

  	
  Revolving
  Loan Commitment Percentage

  	
   

  	
  Tranche
  A-1 Term Loan Commitment

  	
   

  	
  Tranche
  A-1 Term Loan Commitment Percentage

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Van Kampen Senior Income
  Trust

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  9,687,500

  	
   

  	
  12.581168831

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operations Contact:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Van Kampen

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  One Parkview Plaza

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Oakbrook Terrace, IL 60181

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attention:  Brian Buscher/Brad Lang

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone:  630-684-6283/6923

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 630-684-6023

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit Contact:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  State Street Bank & Trust

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Corporate Trust Department

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  P.O. Box 778

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Boston, MA 02102

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn:  Kevin Cedorchuck

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone:  617-662-1229

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 617-988-9670

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Van Kampen Senior Floating
  Rate Fund

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  1,875,000

  	
   

  	
  2.435064935

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operations Contact:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Van Kampen

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  One Parkview Plaza

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Oakbrook Terrace, IL 60181

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attention:  Brian Buscher/Brad Lang

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone:  630-684-6283/6923

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 630-684-6023

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit Contact:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  State Street Bank & Trust

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Corporate Trust Department

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  P.O. Box 778

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Boston, MA 02102

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn:  Kevin Cedorchuck

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone:  617-662-1229

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile: 617-988-9670

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

14

 

	
  Notice Address

  	
   

  	
  Revolving
  Commitment

  	
   

  	
  Revolving
  Loan Commitment Percentage

  	
   

  	
  Tranche
  A-1 Term Loan Commitment

  	
   

  	
  Tranche
  A-1 Term Loan Commitment Percentage

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mariner CDO 2002, Ltd.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  3,000,000

  	
   

  	
  3.896103896

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operations Contact:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mariner CDO 2002, Ltd.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  c/o LaSalle Bank National
  Association

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  135 South LaSalle Street,
  Suite 1625

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chicago, IL 60603

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn:  CDO Trust Services — Mariner 

  2002-1

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn:  Heather McNally

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone:  312-904-6812

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile:  312-904-1086

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Credit Contact:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mariner CDO 2002, Ltd.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  c/o Antares Capital
  Corporation

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  311 South Wacker Drive, Suite
  6400

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chicago, Illinois 60606

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attn:  David Mahon

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Telephone:  312-697-3959

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facsimile:  312-697-3998

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TOTAL

  	
   

  	
  $

  	
  15,000,000

  	
   

  	
  100.000000000

  	
  %

  	
  $

  	
  77,000,000

  	
   

  	
  100.000000000

  	
  %

  
												

 

 

15

 

Exhibit 2.4(d)

 

FORM OF TRANCHE A-2 TERM NOTE

 

	
  Lender: 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  , 200

  	
   

  	
   

  
	
  Principal Sum: $

  	
   

  	
   

  	
   

  	
   

  
										

 

                FOR VALUE
RECEIVED, Medical Staffing Network, Inc., a Delaware corporation (the “Borrower”),
hereby promises to pay to the order of the Lender set forth above (the “Lender”)
and its registered assigns, at the office of Bank of America, N.A. (the “Administrative
Agent”) as set forth in that certain Credit Agreement dated as of October
26, 2001 among the Borrower, Medical Staffing Holdings, LLC, the Domestic
Subsidiaries of the Borrower, the Lenders named therein (including the Lender)
and Bank of America, N.A., as Administrative Agent (as modified and
supplemented and in effect from time to time, the “Credit Agreement”),
the Principal Sum set forth above (or such lesser amount as shall equal the
aggregate unpaid principal amount of the Tranche A-2 Term Loan made by the
Lender to the Borrower under the Credit Agreement), in lawful money of the
United States of America and in immediately available funds, on the dates and
in the principal amounts provided in the Credit Agreement, and to pay interest
on the unpaid principal amount of such Tranche A-2 Term Loan, at such office,
in like money and funds, for the period commencing on the date of such Tranche
A-2 Term Loan until such Tranche A-2 Term Loan shall be paid in full, at the
rates per annum and on the dates provided in the Credit Agreement.

 

                This Note is
one of the Tranche A-2 Term Notes referred to in the Credit Agreement and
evidences the Tranche A-2  Term Loan
made by the Lender thereunder. 
Capitalized terms used in this Tranche A-2 Term Note and not otherwise
defined shall have the respective meanings assigned to them in the Credit
Agreement and the terms and conditions of the Credit Agreement are expressly
incorporated herein and made a part hereof.

 

                The Credit
Agreement provides for the acceleration of the maturity of the Tranche A-2 Term
Loan evidenced by this Tranche A-2 Term Note upon the occurrence of certain
events (and for payment of collection costs in connection therewith) and for
prepayments of such Tranche A-2 Term Loan upon the terms and conditions
specified therein.  In the event this
Tranche A-2 Term Note is not paid when due at any stated or accelerated
maturity, the Borrower agrees to pay, in addition to the principal and
interest, all costs of collection, including reasonable attorney fees.

 

                The date,
amount, type, interest rate and duration of Interest Period (if applicable) of
the Tranche A-2 Term Loan made by the Lender to the Borrower, and each payment
made on account of the principal thereof, shall be recorded by the Lender on
its books; provided that the failure of the Lender to make any such recordation
or endorsement shall not affect the obligations of the Borrower to make a
payment when due of any amount owing hereunder or under this Tranche A-2 Term
Note in respect of the Tranche A-2 Term Loan to be evidenced by this Tranche
A-2 Term Note, and each such recordation or endorsement shall be prima facie
evidence of such information.

 

                This Note and
the Tranche A-2 Term Loan evidenced hereby may be transferred in whole or in
part only by registration of such transfer on the Register maintained for such
purpose by or on behalf of the Borrower as provided in Section 11.3(c) of the
Credit Agreement.

 

                THIS TERM LOAN NOTE SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

                IN WITNESS
WHEREOF, the Borrower has caused this Tranche A-2 Term Note to be executed as
of the date first above written.

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  MEDICAL STAFFING NETWORK, INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  

 

 

16

 

Exhibit 2.4(e)

 

FORM OF NEW COMMITMENT AGREEMENT

 

Reference is made  to the Credit Agreement dated as of October 26, 2001 among
Medical Staffing Network, Inc., a Delaware corporation (the “Borrower”),
Medical Staffing Holdings, LLC, a Delaware limited liability company (the “Parent”),
the Subsidiaries of the Borrower identified as “Guarantors” on the signature
pages hereto (together with the Parent, the “Guarantors”), the Lenders
identified therein and Bank of America, N.A., as Administrative Agent (as the
same may be amended, modified, extended or restated from time to time, the
“Credit Agreement”).  All of the defined
terms in the Credit Agreement are incorporated herein by reference.

 

                1.             Effective as of the
Effective Date set forth below, the undersigned Lender hereby confirms its
Tranche A-2 Term Loan Commitment, in an aggregate principal amount of up to the
amount specified below to make Tranche A-2 Term Loans in accordance with the
provisions of Section 2.4.  If the
undersigned Lender is already a Lender under the Credit Agreement, such Lender
acknowledges and agrees that such Tranche A-2 Term Loan Commitment is in
addition to any existing Commitment of such Lender under the Credit
Agreement.  If the undersigned Lender is
not already a Lender under the Credit Agreement, such Lender hereby
(a) represents and warrants that it has full power and authority, and has
taken all action necessary, to execute and deliver this New Commitment
Agreement and to consummate the transactions contemplated hereby and to become
a Lender under the Credit Agreement, (b) acknowledges, agrees and confirms
that, by its execution of this New Commitment Agreement, such Lender will, as
of the Effective Date, be a party to the Credit Agreement and be bound by the
provisions of the Credit Agreement and, to the extent of its Commitment, have
the rights and obligations of a Lender thereunder and (c) attaches all
documentation required to be delivered pursuant to Section 3.13(b) of the
Credit Agreement.

 

                2.             This New Commitment
Agreement shall be governed by and construed in accordance with the laws of the
State of New York.

 

	
  Amount of new Tranche A-2 Term Loan
  Commitment

  	
   

  	
  $

  
	
   

  	
   

  	
   

  
	
  Effective Date of new Tranche A-2 Term Loan Commitment

  	
   

  	
                                          ,
  20

  

 

 

 

	
  The terms set forth above

  	
   

  	
   

  	
   

  
	
  are hereby agreed to:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  [LENDER]

  	
   

  	
   

  	
  Address for Notices:

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Ph: 

  	
   

  
	
   

  	
   

  	
   

  	
  Fx: 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  CONSENTED TO:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BANK OF AMERICA, N.A.,

  	
   

  	
   

  	
   

  
	
  as Administrative Agent

  	
   

  	
  MEDICAL STAFFING NETWORK, INC.

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Title:

  	
   

  	
  Title:

  
							

 

17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]