Document:

Amendment No. 5 to Loand & Security Agrement

 Exhibit 10.74.8 
  
 $19,000,000.00 
  
 AMENDMENT NO. 5 
  
 TO 
  
 LOAN AND SECURITY AGREEMENT 
  
 originally dated as of October 30, 2002 
  
 by and among 
  
 CORRECTIONAL SERVICES CORPORATION

 CSC MANAGEMENT DE PUERTO RICO INC. 
 YOUTH SERVICES INTERNATIONAL HOLDINGS, INC. 
 YOUTH SERVICES INTERNATIONAL REAL PROPERTY
PARTNERSHIP, LLP 
 YOUTH SERVICES INTERNATIONAL, INC. 
 YOUTH SERVICES INTERNATIONAL OF NORTHERN IOWA, INC. 
 YOUTH SERVICES INTERNATIONAL OF SOUTH DAKOTA,
INC. 
 YOUTH SERVICES INTERNATIONAL OF MISSOURI, INC. 
 YOUTH SERVICES INTERNATIONAL OF TEXAS, INC. 
 YOUTH SERVICES INTERNATIONAL OF ILLINOIS, INC.

 YOUTH SERVICES INTERNATIONAL OF MICHIGAN, INC. 
  
 and 
  
 GENERAL ELECTRIC CAPITAL CORPORATION 
  
 Amended as of March         , 2005 
  

					
	 GE Capital Credit Agreement Amendment No 5
	 	 	 	 

 AMENDMENT NO. 5 TO 
 LOAN AND SECURITY AGREEMENT 
  
 THIS AMENDMENT NO. 5 TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is made as of this              day of March, 2005, by
and among CORRECTIONAL SERVICES CORPORATION, a Delaware corporation, CSC MANAGEMENT DE PUERTO RICO INC., a Puerto Rico corporation, YOUTH SERVICES INTERNATIONAL HOLDINGS, INC., a Delaware corporation, YOUTH SERVICES
INTERNATIONAL REAL PROPERTY PARTNERSHIP, LLP, a Maryland limited liability partnership, YOUTH SERVICES INTERNATIONAL, INC., a Maryland corporation, YOUTH SERVICES INTERNATIONAL OF NORTHERN IOWA, INC., an Iowa corporation, YOUTH
SERVICES INTERNATIONAL OF SOUTH DAKOTA, INC., a South Dakota corporation, YOUTH SERVICES INTERNATIONAL OF MISSOURI, INC., a Missouri corporation, YOUTH SERVICES INTERNATIONAL OF TEXAS, INC., a Texas corporation, YOUTH SERVICES
INTERNATIONAL OF ILLINOIS, INC., a Maryland corporation, and YOUTH SERVICES INTERNATIONAL OF MICHIGAN, INC., a Michigan corporation (collectively, “Borrower”), and GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware
corporation (“Lender”). 
  
 RECITALS

  
 A. Pursuant to that certain Loan and Security
Agreement dated as of October 30, 2002 by and between Borrower and Lender (as amended, modified and restated from time to time, the “Loan Agreement”), the parties have established certain financing arrangements that allow Borrower
to borrow funds from Lender in accordance with the terms and conditions set forth in the Loan Agreement. 
  
 B. The parties now desire to amend the Loan Agreement in accordance with the terms and conditions set forth below. 
  
 NOW, THEREFORE, in consideration of the premises set forth above, the
terms and conditions contained in this Amendment, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Lender and Borrower have agreed to the following amendments to the Loan Agreement. Capitalized
terms used but not defined in this Amendment shall have the meanings that are set forth in the Loan Agreement. 
  
 1. New Section 1.52a of Loan Agreement. The Loan Agreement is hereby amended by inserting the following new Section 1.52a immediately
following the existing Section 1.52: 
  
 Section 1.52a. Reserve Amount. “Reserve Amount” means (i) during the period commencing on the date of Amendment No. 5 to this Agreement through April 30, 2005, $0.00, (ii) during the period commencing May 1, 2005
through May 31, 2005, $250,000.00, (iii) during the period commencing June 1, 2005 through June 30, 2005, 

  

					
	 GE Capital Credit Agreement Amendment No 5
	 	1	 	 

 
$500,000.00, (iv) during the period commencing July 1, 2005 through July 31, 2005, $750,000.00, and (v) August 1, 2005 and thereafter, $1,000,000.00. 

  
 2. Amendment to Section 2.1A(d) of Loan
Agreement. Subsection (d) of Section 2.1A of the Loan Agreement is hereby amended by deleting the first sentence of such subsection (d) in its entirety and by inserting in lieu thereof the following sentence: 
  
 Subject to the terms and conditions of this Agreement, advances under the
Revolving Loan shall be made and Letters of Credit shall be issued against a borrowing base equal to eighty-five percent (85%) of Qualified Accounts due and owing from any Account Debtor less the Reserve Amount (the “Borrowing Base”).
 
  
 3. Amendment to Section 2.1C(a) of Loan
Agreement. Subsection (a) of Section 2.1C of the Loan Agreement is hereby amended by deleting the first sentence of such subsection (a) in its entirety and by inserting in lieu thereof the following sentence.  
  
 Borrower has requested that Lender issue or cause to be issued, and Lender
has agreed to issue or cause to be issued by Issuing Party for Borrower’s account and guaranteed by Lender, one or more Letters of Credit, for the benefit of one or more Beneficiaries, in a maximum Face Amount of (i) effective from the date of
Amendment No. 5 to this Agreement through July 31, 2005, $12,500,000, and (ii) effective from and after August 1, 2005, $10,500,000. 
  
 4. Amendment to Section 2.1C(e) of Loan Agreement. Subsection (e) of Section 2.1C of the Loan Agreement is hereby amended by deleting from
clause (z) of such subsection (e) the dollar amount “$200,000” and by inserting in lieu thereof “the Reserve Amount”. 
  
 5. Special Covenant Regarding Capital Expenditures. Borrower covenants that, for the period commencing on the date of this Amendment
through the date (if any) on which Letter of Credit No. SE444600W dated September 17, 2004 issued to U.S. Bank, National Association, as Trustee (and any replacement letter of credit), either expires, is surrendered or is fully drawn with all draws
reimbursed to Lender or there shall have occurred any combination of such events such that no further draws are possible and all draws made are fully reimbursed, Borrower’s capital expenditures, other than any capital expenditures made in
connection with the detention complex under construction in Frio County, Texas, will not exceed $1,500,000.00. 
  
 6. Confirmation of Representations and Warranties. Borrower hereby (a) confirms that all of the representations and warranties
set forth in Article IV of the Loan Agreement are true and correct in all material respects, and (b) specifically represents and warrants to Lender that it has good and marketable title to all of its respective Collateral, free and clear of any lien
or security interest in favor of any other person or entity. 
  
 7. Updated Schedules. As a condition precedent to Lender’s agreement to enter into this Amendment, and in order for this Amendment to be effective, Borrower shall revise, update and deliver to Lender all Schedules
to the Loan Agreement, to the extent necessary, (a) to 

  

					
	 GE Capital Credit Agreement Amendment No 5
	 	2	 	 

 
reflect updated and accurate information with respect to Borrower, and (b) to update all other information as necessary to make the Schedules previously
delivered correct. Borrower hereby represents and warrants that the information set forth on the Schedules attached to the Loan Agreement (as amended per the Schedules attached hereto, if any) is true and correct as of the date of this Amendment.

  
 8. Fees. In consideration of this
Amendment, Borrower agrees to pay a fee of Five Thousand and No/100 Dollars ($5,000.00), which amount shall be added to the balance of the Revolving Credit Advances on the date hereof. 
  
 9. Costs and Expenses. Borrower agrees to pay all costs and expenses incurred by Lender in connection
with this Amendment. 
  
 10.
Enforceability. This Amendment constitutes the legal, valid and binding obligation of each Borrower and is enforceable against each such Borrower in accordance with its terms. 
  
 11. Reference to the Effect on the Loan Agreement. 

 
 (a) Upon the effectiveness of this Amendment, each
reference in the Loan Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of similar import shall mean and be a reference to the Loan Agreement as amended by this Amendment. 
  
 (b) Except as specifically amended above, the Loan Agreement
and all other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed. 
  
 (c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided in this Amendment, operate as a
waiver of any right, power or remedy of Lender, nor constitute a waiver of any provision of the Loan Agreement, or any other documents, instruments and agreements executed or delivered in connection with the Loan Agreement. 
  
 (d) This Amendment (together with any other document
executed in connection herewith) is not intended to be, nor shall it be construed as, a novation of the Loan Agreement. 
  
 12. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Maryland. 
  
 13. Headings. Section headings in this Amendment are included
for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 
  
 14. Counterparts. This Amendment may be executed in counterparts, and such counterparts taken together shall be deemed to constitute one and
the same instrument. 
  

					
	 GE Capital Credit Agreement Amendment No 5
	 	3	 	 

 IN WITNESS WHEREOF, intending to be legally bound, the parties have caused this Amendment to be
executed as of the date first written above. 
  

					
	 LENDER:
  
 GENERAL ELECTRIC CAPITAL CORPORATION
 a Delaware corporation

			
	 By:
	 	 	 	 
	 Name:
	 	 	 	 
	 Title:
	 	 	 	 
	
	 BORROWER:
  
 CORRECTIONAL SERVICES CORPORATION
 a Delaware corporation

			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner

	 Title:
	 	 Senior Vice President & CFO

	
	 CSC MANAGEMENT DE PUERTO RICO INC.
 a Puerto Rico corporation

			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner

	 Title:
	 	 Senior Vice President & CFO

	
	 YOUTH SERVICES INTERNATIONAL HOLDINGS, INC.
 a Delaware corporation

			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner

	 Title:
	 	 Senior Vice President & CFO

  

					
	 GE Capital Credit Agreement Amendment No 5
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	 YOUTH SERVICES INTERNATIONAL REAL
PROPERTY PARTNERSHIP, LLP
 a Maryland limited liability partnership

			
	 By:
	 	 Youth Services International, Inc.
 a Maryland corporation
 its Managing Partner
	 	 
			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner
	 	 
	 Title:
	 	 Senior Vice President & CFO
	 	 
	
	 YOUTH SERVICES INTERNATIONAL, INC.
 a Maryland corporation

			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner
	 	 
	 Title:
	 	 Senior Vice President & CFO
	 	 
	
	 YOUTH SERVICES INTERNATIONAL OF NORTHERN IOWA, INC.
 an Iowa corporation

			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner
	 	 
	 Title:
	 	 Senior Vice President & CFO
	 	 
	
	 YOUTH SERVICES INTERNATIONAL OF SOUTH DAKOTA, INC.
 a South Dakota corporation

			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner
	 	 
	 Title:
	 	 Senior Vice President & CFO
	 	 
	
	 YOUTH SERVICES INTERNATIONAL OF MISSOURI, INC.
 a Missouri corporation

			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner
	 	 
	 Title:
	 	 Senior Vice President & CFO
	 	 

  

					
	 GE Capital Credit Agreement Amendment No 5
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	 YOUTH SERVICES INTERNATIONAL OF TEXAS, INC.
 a Texas corporation

			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner
	 	 
	 Title:
	 	 Senior Vice President & CFO
	 	 
	
	 YOUTH SERVICES INTERNATIONAL OF ILLINOIS, INC.
 a Maryland corporation

			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner
	 	 
	 Title:
	 	 Senior Vice President & CFO
	 	 
	
	 YOUTH SERVICES INTERNATIONAL OF MICHIGAN, INC.
 a Michigan corporation

			
	 By:
	 	 	 	(SEAL)
	 Name:
	 	 Bernard A. Wagner
	 	 
	 Title:
	 	 Senior Vice President & CFO
	 	 

  

					
	 GE Capital Credit Agreement Amendment No 5
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 LIST OF SCHEDULES 
  

			
	 Schedule 1.41 -
	  	Mortgages
		
	 Schedule 1.45 -
	  	Permitted Liens
		
	 Schedule 3.6   -
	  	Officers with Power of Attorney
		
	 Schedule 4.1   -
	  	Subsidiaries
		
	 Schedule 4.2   -
	  	State of Organization
		
	 Schedule 4.5   -
	  	Litigation
		
	 Schedule 4.7   -
	  	Tax Identification Numbers; Fiscal Years
		
	 Schedule 4.9   -
	  	Exceptions to Ownership
		
	 Schedule 4.10 -
	  	Tax Liability
		
	 Schedule 4.14 -
	  	Environmental Matters
		
	 Schedule 4.15 -
	  	Places of Business; Record Owner; Chief Executive Office
		
	 Schedule 4.16 -
	  	Intellectual Property
		
	 Schedule 4.17 -
	  	Capitalization; Ownership
		
	 Schedule 4.19 -
	  	Borrowings and Guarantees
		
	 Schedule 4.20 -
	  	Business Interruptions
		
	 Schedule 4.21 -
	  	Trade Names
		
	 Schedule 4.22 -
	  	Joint Ventures
		
	 Schedule 4.27 -
	  	Funds from Restricted Grants
		
	 Schedule 4.29 -
	  	Assignment of Claims Laws
		
	 Schedule 4.30 -
	  	Unrecorded Leases
		
	 Schedule 4.35 -
	  	Unrecorded Contracts

  

					
	 GE Capital Credit Agreement Amendment No 5
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	 Schedule 4.42 -
	  	Other Liens
		
	 Schedule 4.43 -
	  	Agreements to Transfer Title
		
	 Schedule 6.7   -
	  	Insurance
		
	 Schedule 6.24 -
	  	Post-Closing Obligations
		
	 Schedule 6.38 -
	  	Operating Accounts

  

					
	 GE Capital Credit Agreement Amendment No 5
	 	8Separation and Service Agreement

 Exhibit 10.74.9 
  
 SEPARATION AND SEVERANCE AGREEMENT 
  
 THIS SEPARATION AND SEVERANCE AGREEMENT (hereafter referred to as this “Agreement”) is made and entered
into effective as of June 6, 2005 by and between, on the one hand, CORRECTIONAL SERVICES CORPORATION, a Delaware corporation, and YOUTH SERVICES INTERNATIONAL, INC., a Maryland corporation, each having its principal place of business
in Sarasota, Florida (hereafter referred to collectively as “the Company”), and, on the other, JESSE E. WILLIAMS, JR., a resident of the State of Florida (hereafter referred to as “Mr. Williams”). 
  
 Witnesseth: 
  
 WHEREAS, pursuant to an Employment Agreement made on March 5, 2003
(hereinafter referred to as the “Employment Agreement”), the Company employed Mr. Williams as a “Senior Vice President” for a term of employment that commenced on July 1, 2003 and was to end on June 30, 2005; and 
  
 WHEREAS, the Company has decided not to continue Mr. Williams’s
employment subsequent to June 30, 2005, and has communicated this decision to Mr. Williams; and 
  
 WHEREAS, Mr. Williams is an employee in good standing, and the Company and Mr. Williams have determined that it is in their mutual best interest to
separate and terminate Mr. Williams’ employment with the Company immediately rather than awaiting the expiration of the employment set forth in the Employment Agreement, and to enter into this Agreement in order to memorialize the terms and
conditions of Mr. Williams’ separation from employment with the Company; 
  
 NOW, THEREFORE, in consideration of the foregoing, the mutual promises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged
by each of the parties hereto, the Company and Mr. Williams hereby agree as follows: 
  
 1. Termination of Employment Agreement. The Company and Mr. Williams hereby confirm and agree that Mr. Williams’ employment with the Company is hereby terminated effective as of the date June 30,
2005, and, except as expressly set forth herein, the Employment Agreement is hereby terminated. The parties intend that this Agreement shall supercede and replace any inconsistent terms or conditions contained in the Employment Agreement relating to
the matters addressed herein in their entirety, including, without intended limitation, the terms of Sections 4 and 9 of the Employment Agreement. 
  
 2. Resignation. Mr. Williams does hereby resign from his position as the “Senior Vice President” of the Company and from all other
offices and directorships that he currently holds with any of the Company’s subsidiaries or affiliates or that he holds at the direction of the Company. Mr. Williams acknowledges that the Company may be required to announce publicly that Mr.
Williams has resigned from his positions with the Company and its subsidiaries, and hereby consents to any public announcement by the Company to that effect. The Company and 

 
Mr. Williams further agree that they each shall advise third parties interested in the circumstances of Mr. Williams’s separation from employment solely
that “Mr. Williams has resigned to pursue other interests.” 
  
 3. Salary and Special Severance Benefit. On the Company’s next regularly scheduled payroll payment date following the effective date of this Agreement, the Company shall pay to Mr. Williams his accrued but unpaid salary
through June 30, 2005, and, in addition, shall pay as a severance payment to Mr. Williams, in a lump sum, an amount equivalent to  1/2 of Mr. Williams’s current base salary (exclusive of any bonuses or other compensation earned by Mr. Williams in the current or any prior year). All such payments shall be made subject to, and after deduction for, all
required withholdings for income and payroll taxes and other required withholdings. 
  
 4. No Bonuses or Other Compensation Payable. Notwithstanding anything contained in the Employment Agreement, and regardless of the terms of any of the Company’s currently existing or subsequently
created executive bonus or incentive plans, Mr. Williams shall not be entitled to any bonus(es) or other forms of compensation with respect to any period prior to the date of this Agreement or for any period subsequent to the date of this Agreement
in addition to the payments provided for in Section 3 of this Agreement, and does hereby forever and fully release and discharge the Company and its subsidiaries, officers, directors, Mr. Williams and shareholders of and from, and covenants and
agrees not to assert, any and all claims, demands or suits for any such bonus(es) or other forms of compensation. 
  
 5. Health Benefits. The Company shall continue to provide Mr. Williams with the executive health insurance benefits currently provided to
him by the Company without cost to Mr. Williams through and including June 30, 2005. Mr. Williams may elect to continue his coverage for up to 18 additional months after such date, but, if he so elects, he must pay to the Company, on or before
August 31, 2005, the full amount of the premium due for such coverage for any period subsequent to June 30 to the date of payment, and, thereafter, pay the full amount of the premium to continue coverage for so long as he desires to maintain
coverage thereunder during such 18 month period. The Company will provide Mr. Williams with additional information pertaining to his “COBRA” benefits under separate cover. 
  
 6. Stock Options. The Board of Directors of the Company has granted to Mr. Williams incentive stock options to
purchase up to 10,000 shares of the Common Stock of the Company in accordance with the Incentive Stock Option Agreement dated July 1, 2003 between the Company and Mr. Williams, 5,000 of which vested on July 1, 2004 and 5,000 of which are scheduled
to vest on July 1, 2005. The Company hereby agrees that such option shall be deemed vested and exercisable by Mr. Williams notwithstanding the vesting schedule provided for in the Incentive Stock Option Agreement, and that, for purposes of the
Incentive Stock Option Agreement, Mr. Williams’ employment with the Company has been terminated not for cause and that Mr. Williams shall be deemed not to have voluntarily resigned his employment with the Company; therefore, pursuant to Section
9(c) of the Incentive Stock Option Agreement, Mr. Williams shall retain the right to exercise such vested options for a period of 6 months following the effective date of this Agreement. 

 7. Confidentiality. Mr. Williams acknowledges and understands that, during his employment
with the Company, he has been in a position of confidence and trust with respect to the business of the Company, and that, in such position, he has had access to confidential and proprietary information pertaining to the business, financial affairs,
prospects, projects and methods of operations of the Company. Mr. Williams, therefore, acknowledges that he understands that he is bound to maintain all such information in confidence and that he shall not be permitted to use such information for
his own benefit or for the benefit of any other party during the remainder of his tenure with the Company or at any time following his separation from employment. Upon termination of Mr. Williams’s employment, or at any time upon the
Company’s request, Mr. Williams shall promptly deliver to the Company all documents and materials of any nature pertaining to his work with the Company and shall not take any documents or materials or copies thereof containing any information
disclosed to him by the Company. For purposes of this Agreement, all projects in development, marketing plans, program offerings, methods and techniques, business plans and strategies, financial information, forecasts, personnel information and
customer lists of the Company shall be considered to be confidential and proprietary information of the Company, regardless of whether it is identified or designated as such by the Company. Nothing contained herein shall be construed to prevent Mr.
Williams from complying with a lawfully issued subpoena. 
  
 8. Non-Competition Covenant. Mr. Williams acknowledges and understands that the “Non-Competition Covenant” set forth in Section 10 of the Employment Agreement was intended to bind Mr. Williams following his
separation of employment, and therefore, acknowledges and agrees that the terms of Section 10 of the Employment Agreement, the terms of which are hereby incorporated in this Agreement by this reference and made a substantive part hereof, remain, and
shall remain, in full force and effect notwithstanding the termination of his employment with the Company. 
  
 9. Non-Disparagement. Mr. Williams further covenants and agrees that, during the Non-Competition Period, he will not disparage the Company
or any of its subsidiaries, directors, officers, employees, whether by spoken word, print or electronic communication. 
  
 10. Cooperation. Mr. Williams also covenants and agrees that, notwithstanding the termination of his employment, Mr. Williams will continue
to cooperate with the Company with respect to any on-going litigation by or against the Company in which he is currently involved and/or with any administrative or legal proceedings hereafter initiated by or against the Company arising out of or
related to any facts, events, incidents or circumstances existing, occurring or arising at any time during which Mr. Williams has been or will remain employed by the Company, and shall make himself available without cost to the Company for
interviews, depositions and testimony and to assist with and participate in strategy sessions as reasonable necessary; provided however, that, to the extent that Mr. Williams’s participation in any of the foregoing shall be necessary, the
Company shall pay to or for Mr. Williams all reasonable costs and expenses incurred by Mr. Williams in providing such cooperation and assistance in accordance with the Company’s expense reimbursement policies then in effect. 
  
 11. Remedies for Breach. Mr. Williams hereby acknowledges the
broad scope of the covenants contained in Sections 7, 8 and 9 of this Agreement, but agrees that such covenants are 

 
reasonable in light of the consideration to be paid to Mr. Williams pursuant to this Agreement and the scope of the business of the Company, and represents
and warrants to the Company that such covenants do not unreasonably restrict his employment opportunities or unduly burden or deprive him of a means of earning a livelihood. Mr. Williams further acknowledges and agrees that, if he should breach any
of the covenants contained in Sections 7, 8, 9 or 10 of this Agreement, the Company may not have an adequate remedy at law for monetary damages to remedy any such breach; therefore, Mr. Williams agrees that, in the event of any breach or threatened
breach by Mr. Williams of any of the covenants contained in Sections 7, 8 or 9 of this Agreement, the Company shall have the right to seek equitable and injunctive relief against Mr. Williams, without the necessity of posting of any bonds, in
addition and without prejudice to its right to seek monetary damages, in order to prevent any threatened breach or further breach thereof by Mr. Williams, and in the event of any breach or threatened breach by Mr. Williams of any of the covenants
contained in Section 10 of this Agreement, the Company shall be entitled to an order of specific performance in order to compel Mr. Williams to comply with the same, in addition and without prejudice to its right to seek monetary damages for the
breach thereof. Mr. Williams further agrees that, if the Company shall be required to engage the services of an attorney and/or to resort to litigation in order to enforce those covenants, then, in addition to any monetary damages caused by any
breach thereof by Mr. Williams, Mr. Williams shall be obligated to pay to the Company the cost of any and all reasonable and necessary attorneys’ fees and expenses, court costs and other reasonable and necessary fees or expenses incurred by the
Company in enforcing this covenant. 
  
 12. Governing Law
and Interpretation. Any questions of law concerning the interpretation of any of the terms of this Agreement shall be governed by the laws of the State of Florida and shall be resolved in the state courts of the State of Florida sitting in
Sarasota County. Each of the parties hereby waives any and all objections to the jurisdiction of such courts or to such venue. If for any reason any of the terms hereof shall be deemed by a court of competent jurisdiction to be legally invalid or
unenforceable, the validity of the remainder of the terms hereof shall not be affected and the invalid or unenforceable terms shall be deemed modified to the minimum extent necessary to make those terms consistent with applicable law, and, in their
modified form, those terms shall then be enforceable and enforced. The recitals to this Agreement are to be considered a substantive part of this Agreement. This Agreement may be executed in any number of counterparts, each of which shall be an
original but all of which shall constitute one and the same instrument. With respect to each and every term and provision in this Agreement, the parties understand and agree that the same have or has been mutually negotiated, prepared and drafted,
and that if at any time the parties hereto desire or are required to interpret or construe any such term or provision, no consideration shall be given to the issue of which party hereto actually prepared, drafted or requested any term or condition
of this Agreement. 
  
 13. Amendments and Waivers.
This Agreement and the provisions hereof may be amended, modified or supplemented in whole or in part, but only by a written instrument making express reference to this Agreement and executed by the Company and Mr. Williams. No waiver of any
provision of this Agreement shall be valid unless in writing, making express reference to this Agreement, and signed by the person against whom enforcement of such waiver is sought. The failure of any party at any time to insist upon strict
performance of any provision hereof shall not be 

 
construed as a waiver or relinquishment of the right to insist upon strict performance of the same provision at any future time. 
  
 14. Binding Effect. This Agreement shall inure to the benefit
of and shall be binding upon the Company and its successors in interest and Mr. Williams and his heirs, next of kin, personal representatives and guardians as applicable. 
  
 15. Effect of Agreement. The terms of this Agreement are intended to be a complete and final expression, and
integration, of the understandings and agreements between the Company and Mr. Williams concerning the terms and conditions of Mr. Williams’ separation from employment with the Company, and, upon execution, shall serve to supercede and terminate
each and every prior and contemporaneous promise, agreement, representation, warranty, understanding and commitment, whether written or oral, expressed or implied, made by or between the Company and Mr. Williams concerning the terms and conditions
of Mr. Williams’ separation from employment with the Company, including, in particular, any inconsistent terms or conditions contained in the Employment Agreement relating to the matters addressed herein. 
  

																							
	*	 	*	 	*	 	*	 	*	 	*	 	*	 	*	 	*	 	*	 	*	 	*

  
 IN WITNESS WHEREOF,
the Company and Mr. Williams have executed and delivered this Agreement to effective as of the date first above written. 
  

									
	 WITNESS:
	 	 	 	CORRECTIONAL SERVICES CORPORATION
				
	Elizabeth __ll	 	 	 	 By: 
	 	 /s/ James F. Slattery

	 	 	 	 	 	 	 	 	 James F. Slattery
 President and Chief Executive Officer

			
	 WITNESS:
	 	 	 	 
			
	Elizabeth __ll	 	 	 	 /s/ Jesse E. Williams, Jr.

	 	 	 	 	 	 	 Jesse E. Williams, Jr.

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