Document:

Exhibit 10.14

EXHIBIT H

FORM OF GUARANTY 

GUARANTY

          THIS
GUARANTY (this “Guaranty”), dated as of July 30, 2010 (the “Effective
Date”), made by COMPUTERIZED WASTE SYSTEMS, LLC, a Kentucky limited
liability company (“CWS”), ISA INDIANA REAL ESTATE, LLC, a Kentucky
limited liability company (“Indiana Real Estate”), ISA LOGISTICS LLC, a
Kentucky limited liability company (“Logistics”), ISA REAL ESTATE, LLC,
a Kentucky limited liability company (“ISA Real Estate”), ISA RECYCLING,
LLC, a Kentucky limited liability company (“Recycling”), WASTE EQUIPMENT
SALES & SERVICE CO., LLC, a Kentucky limited liability company (“Waste
Equipment”), 7021 GRADE LANE LLC, a Kentucky limited liability company (“7021
Grade”), 7124 GRADE LANE LLC, a Kentucky limited liability company (“7124
Grade”), and 7200 GRADE LANE LLC, a Kentucky limited liability company (“7200
Grade”) (CWS, Indiana Real Estate, Logistics, ISA Real Estate, Recycling,
Waste Equipment, 7021 Grade, 7124 Grade and 7200 Grade are each a “Guarantor
and, collectively, (“Guarantors”), to, and for the benefit of, the
Secured Creditors (as defined below), is as follows:

1. GUARANTY.

          1.1 Guaranty.
For value received and in consideration of any loan, advance, letter of credit
or financial accommodation of any kind whatsoever heretofore, now or hereafter
made, given or granted to any one or more of Borrowers (as defined below) by
any or all of the Secured Creditors (as defined below), pursuant to the Credit
Agreement dated as of the Effective Date (the “Credit Agreement”), by and among
Borrowers, the Lenders party thereto, Fifth Third Bank, an Ohio banking
corporation, in its capacity as Agent for the LC Issuer and the Lenders (in
such capacity, “Agent”) and as LC Issuer thereunder (Agent, the LC
Issuer and the Lenders are, collectively, the “Secured Creditors” and
each, individually, a “Secured Creditor”), each Guarantor hereby
absolutely, irrevocably, unconditionally, and jointly and severally guarantees
to each Secured Creditor the full and prompt payment and performance when due
of (i) the principal of, all interest on, and all fees in respect of, all of
the Loans, (ii) the Letter of Credit Obligations and all fees in respect
thereof, and (iii) any and all other Obligations, whether all or any portion of
such Loans, Letter of Credit Obligations, and other Obligations are now or
hereafter existing, direct or indirect, related or unrelated, joint or several,
or absolute or contingent, whether or not for the payment of money, and whether
arising by reason of an extension of credit, opening of a letter of credit,
loan or guarantee or in any other manner (all of the indebtedness, liabilities
and obligations described in the foregoing clauses (i), (ii) and (iii) of this Section
1.1 which are outstanding from time to time are, collectively, the “Guaranteed
Obligations”). Each Guarantor hereby absolutely, irrevocably,
unconditionally, and jointly and severally guarantees to each Secured Creditor
the full and prompt payment and performance of the Guaranteed Obligations when
any of the Guaranteed Obligations are due under the terms of the Credit
Agreement or the other Loan Documents, including upon the occurrence and during
the continuance of an Event of Default beyond any applicable grace period (and
which has not been waived in writing by, or cured to the written satisfaction
of, Agent in accordance with the Credit Agreement), by reason of the maturity
or acceleration of any of the Guaranteed Obligations, on the demand for cash
collateral for the Letter of Credit Obligations, on the occurrence of a default
under the terms of this Guaranty, or otherwise, and at any times after the date
when due.

          1.2 Capitalized
Terms. Capitalized terms used, but not defined, in this Guaranty, and the
term “good faith” have the meanings attributed to them in the Credit Agreement.

          1.3 Other
Definitional Provisions; Construction. Unless otherwise specified in this
Guaranty, as used in this Guaranty:

                    (i)
“Borrowers” means each of Industrial Services of America, Inc., a
Florida corporation (“ISA”), and ISA Indiana, Inc., an Indiana
corporation (“ISA Indiana”). 

                    (ii)
Accounting terms relating to Guarantors not defined in this Guaranty or the
Credit Agreement have the respective meanings given to them in accordance with
GAAP. 

                    (iii)
The definition of any document, instrument or agreement includes all schedules,
attachments and exhibits thereto and all renewals, extensions, supplements,
restatements and amendments thereof. 

                    (iv)
“Hereunder,” “herein,” “hereto,” “this Guaranty” and words of similar import
refer to this entire document; “including” is used by way of illustration and
not by way of limitation, unless the context clearly indicates the contrary;
the singular includes the plural and conversely; and any action required to be
taken by Borrowers or Guarantors is to be taken promptly, unless the context
clearly indicates the contrary.

2. NATURE OF THE GUARANTY.

          2.1 Absolute
Obligations. The obligations of each Guarantor under this Guaranty are
absolute, unconditional, and will be continuing and remain in full force and
effect subject to Sections 2.2 and 2.6. This is a continuing guaranty of
payment and not of collection. No Guarantor’s obligations under this Guaranty
will be released, discharged, affected, modified or impaired by any event,
including any of the following events:

                    (i)
the compromise, settlement, release, discharge or termination of any or all of
the Guaranteed Obligations by operation of law or otherwise, except as may
result from the full and prompt performance and payment of the Guaranteed
Obligations;

                    (ii)
the extension of the time for payment of any Guaranteed Obligation, the waiver,
modification or amendment (whether material or otherwise) of any Guaranteed
Obligation, or the acceptance of partial payments of the Guaranteed
Obligations;

                    (iii)
the taking or failure to take any action under the Credit Agreement, the
Security Document, any of the other Loan Documents or this Guaranty;

                    (iv)
the invalidity or unenforceability of any provision of the Credit Agreement,
the Security Document, any of the other Loan Documents, or this Guaranty or any
other defense Borrowers or any other guarantor of the Guaranteed Obligations
may assert to the payment or performance of the Guaranteed Obligations other
than the payment and satisfaction in full of all of the Guaranteed Obligations;

                    (v)
any (a) failure by any Secured Creditor, to take any steps to perfect,
maintain, or enforce its Liens on any of the Loan Collateral, (b) subordination
of any of the Guaranteed Obligations and any security therefor to any other
Indebtedness of Borrowers to any Person, or (c) loss, release, substitution of,
or other dealings with, any collateral or other security given to any Secured
Creditor with respect to the Guaranteed Obligations;

                    (vi)
the voluntary or involuntary liquidation, dissolution, sale or other
disposition of all or substantially all of the assets, marshaling of assets and
liabilities, receivership, insolvency, bankruptcy, assignment, composition with
creditors or readjustment of, or other similar proceedings affecting Borrowers,
any Guarantor, or any other guarantor of any or all of the Guaranteed
Obligations;

                    (vii)
any allegation of invalidity or contest of the validity of this Guaranty in any
of the proceedings described in clause (vi) of this Section 2.1;

                    (viii)
any act, election or remedy, or other occurrence or circumstance of any nature,
whether or not under any Secured Creditor’s control, that may affect or impair
any subrogation right of any Guarantor or the effectiveness or value thereof;

                    (ix)
the default or failure of any Guarantor to perform fully any of its obligations
set forth in this Guaranty;

                    (x)
any Secured Creditor’s election, in any proceeding instituted under Chapter 11
of Title 11 of the United States Code (the “Bankruptcy Code”), of the
application of Section 1111(b)(2) of the Bankruptcy Code;

                    (xi)
any borrowing or grant of a security interest by any Borrower, as
debtor-in-possession, under Section 364 of the Bankruptcy Code;

                    (xii)
the disallowance of all or any portion of any Secured Creditor’s claim(s) for
repayment of the Guaranteed Obligations under Section 502 of the Bankruptcy
Code; or

                    (xiii)
any other circumstance which might otherwise constitute a legal or equitable
discharge or defense of a guarantor other than payment and satisfaction in full
of all of the Guaranteed Obligations.

          2.2 Revival
of Guaranty. If (i) any demand is made at any time on any Secured Creditor
for the repayment of any amount received by it or as proceeds of any collateral
or security which have been applied in payment of any of the Guaranteed
Obligations, and (ii) any Secured Creditor makes any repayment by reason of any
judgment, decree or order of any court or administrative body or by reason of
any settlement or compromise of such demand, each Guarantor will be liable
under this Guaranty for all amounts so repaid to the same extent as if such
amounts had never been received originally by each affected Secured Creditor. 

          2.3 Waivers
By Guarantors. Each Guarantor hereby covenants that this Guaranty will not
be discharged except by complete performance of the Obligations and the
Guaranteed Obligations, other than contingent obligations for indemnification
or reimbursement for which Agent has not given notice thereof to Borrowers.
Each Guarantor waives all setoffs and counterclaims and all presentments,
demands for performance, notices of nonperformance, notices of intention to
accelerate and notices of acceleration, protests, notices of protest, notices
of dishonor, and notices of acceptance of, and reliance on, this Guaranty. Each
Guarantor further waives all (i) notices of the existence, creation or
incurring of new or additional Indebtedness, arising either from additional
loans extended to, or letters of credit issued for the benefit of, Borrowers,
or otherwise, (ii) notices that the principal amount, or any portion thereof
(and any interest thereon), of the Loans or any of the other Guaranteed
Obligations is due, (iii) notices of any and all proceedings to collect from
Borrowers, any indorser or any other guarantor of all or any part of the
Guaranteed Obligations, or from anyone else, (iv) to the extent permitted by
law, notices of exchange, sale, surrender or other handling of any security or
collateral given to Agent, for the benefit of the Secured Creditors, to secure
payment of all or any part of the Guaranteed Obligations and (v) defenses based
on suretyship or impairment of collateral.

          2.4 Application
of Proceeds by Agent. Subject to the terms of the Credit Agreement, Agent
will have the exclusive right to determine, in its discretion exercised in good
faith, the order and method of application of payments from and credits to, if
any, Guarantors, Borrowers or any other Person on account of the Guaranteed
Obligations or of any other liability of any Guarantor to any Secured Creditor.

          2.5 Responsibility
of Guarantors. Each Guarantor hereby assumes responsibility for keeping
itself informed of the financial condition of Borrowers, and any and all
indorsers and other guarantors of any instrument or document evidencing all or
any part of the Guaranteed Obligations and of all other circumstances bearing on
the risk of nonpayment of the Guaranteed Obligations or any part thereof that
diligent inquiry would reveal. No Secured Creditor will have any duty to advise
Guarantors of information known to a Secured Creditor regarding such condition
or any such circumstances.

          2.6
Termination of Guaranty. Subject to Section 2.2, each Guarantor’s
obligations under this Guaranty for the Guaranteed Obligations will terminate
on the later to occur of: (i) the full performance, payment and satisfaction of
the Guaranteed Obligations (and all Letter of Credit Obligations are expired or
terminated, but exclusive of any contingent obligations for indemnification or
reimbursement for which Agent has not then given notice of a claim thereof
against any Borrower) and (ii) the termination of all Commitments of each
Lender under the Credit Agreement. 

          2.7 Security.
This Guaranty and the Guaranteed Obligations are secured by a Security
Agreement of even date herewith given by Guarantors to Agent for the benefit of
the Secured Creditors (the “Security Document”).

          2.8 Taxes.
All payments to be made hereunder by Guarantors shall be made without setoff,
counterclaim or other defense. All such payments shall be made free and clear
of and without deduction for or on account of, any present or future income,
stamp or other taxes, levies, imposts, duties, charges, fees, deductions or
withholdings, now or hereafter imposed, levied, collected, withheld or assessed
by any Governmental Authority (collectively, “Taxes”) excluding Taxes
imposed on or measured by Agent’s, or any Lender’s, gross or net income,
franchise taxes, branch profits taxes, taxes on doing business or taxes
measured by or imposed upon the overall capital or net worth of Agent or any
Lender or its applicable lending office, or any branch or affiliate thereof, in
each case imposed by the jurisdiction under the laws of which Agent, any
Lender, or any applicable lending office, branch or affiliate is organized or
is located, or any nation within which such jurisdiction is located or any
political subdivision thereof. If any Taxes are imposed and required to be
withheld from any amount payable by any Guarantor hereunder, Guarantors shall
be obligated to (i) pay such additional amount so that the Secured Creditors
will receive a net amount (after giving effect to the payment of such
additional amount and to the deduction of all Taxes) equal to the amount due
hereunder, (ii) pay such Taxes to the appropriate taxing authority for the
account of the Secured Creditors, and (iii) as promptly as possible thereafter,
send Agent a certified copy of any original official receipt showing payment
thereof, together with such additional documentary evidence as Agent may from
time to time require in its discretion exercised in good faith. If any
Guarantor fails to pay any Taxes when due (taking into account all valid and
lawful extensions) to the appropriate taxing authority or fails to remit to
Agent the required receipts or other required documentary evidence, Guarantors
shall be obligated to indemnify the Secured Creditors for any incremental
taxes, interest or penalties that may become payable by the Secured Creditors
as a result of such failure. The obligations of Guarantors under this Section
2.8 shall survive the repayment of the Guaranteed Obligations and the
termination of the Commitments under the Credit Agreement. 

3. REPRESENTATIONS AND WARRANTIES. To induce the Secured
Creditors to extend the Guaranteed Obligations, and for other good and valuable
consideration, each Guarantor hereby represents and warrants to each Secured
Creditor that: 

          (i) this
Guaranty is the legal, valid and binding obligation of such Guarantor,
enforceable in accordance with its terms, except as such enforceability may be
affected by any Insolvency Laws affecting the enforcement of creditors’ rights
generally and by general principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or at law);

          (ii) the
execution, delivery and performance of this Guaranty by such Guarantor do not
and will not, by the lapse of time, by the giving of notice, or the
satisfaction of any other condition, violate or contravene any authority having
the force of law or any Material Agreement to which such Guarantor is a party
or by which such Guarantor or any of its Properties is or may be bound or
affected; 

          (iii) the
execution, delivery and performance of this Guaranty by such Guarantor do not:
(a) require any consent or approval of any Person other than to the extent
disclosed in Section 5.2(c) of the Credit Agreement, (b) violate or
contravene any rule or provision of such Guarantor’s Articles of Organization,
any resolution of its members or managers or other agreement, document or
instrument (including any member agreement to which such Guarantor is a party
or by which such Guarantor or any of such Guarantor’s Properties is or may be
bound or affected), or (c) result in the creation or imposition of any Lien on
any of the Properties of such Guarantor except in favor of Agent for the
benefit of the Secured Creditors; 

          (iv) except
with respect to those claims that are covered fully by available insurance
coverage for which the insurer has admitted in writing its liability for the
full amount thereof, there is no action or proceeding pending before any court
or Governmental Authority which materially, adversely affects the condition
(financial or otherwise) of such Guarantor or any of its Properties; 

          (v) such
Guarantor does not have any Indebtedness other than as expressly permitted by Section
8.11 of the Credit Agreement; and 

          (vi) as of
the Closing Date, each of the representations applicable to such Guarantor, or
made on behalf of such Guarantor by Borrowers, in the Credit Agreement is true
and correct in all material respects. 

4. COVENANTS. From the Effective Date until the termination of
this Guaranty in accordance with Section 2.6:

          4.1 Security
Document. Guarantors will perform, observe and comply with all of the terms
and conditions of the Security Document.

          4.2 Expenses.
Each Guarantor will pay all of the reasonable costs, expenses and fees,
including, without limitation, all Attorneys’ Fees, incurred by any Secured
Creditor in enforcing or attempting to enforce this Guaranty, whether the same
is enforced by suit or otherwise, and all amounts recoverable by law, including
interest on any unpaid amounts due under this Guaranty.

          4.3 Incorporation
of Credit Agreement. Each Guarantor will observe, perform and fulfill, and
will be bound by, each provision in the Credit Agreement applicable to such
Guarantor (including those which Borrowers have agreed to cause such Guarantor
to observe, perform and fulfill) (the “Incorporated Provisions”), with
the effect that the Secured Creditors will have the benefit of each of the
Incorporated Provisions (including affirmative and negative covenants,
representations and warranties, delivery of financial statements and other
notices and information). The Incorporated Provisions are hereby incorporated
by reference and made a part of this Guaranty to the same extent as if the
Incorporated Provisions were fully set forth herein. Notwithstanding anything
to the contrary in this Section 4.3, none of Guarantors nor any successor
or assignee of any Guarantor, by operation of law or otherwise, is a party to
the Credit Agreement or any of the other Loan Documents (other than this
Guaranty, the Security Document and those certain Landlord Waivers and Negative
Pledge Agreements, as applicable, made by Guarantors in favor of Agent), and
Guarantors will not have any (i) right in or to enforcement of the Credit
Agreement or any of such other Loan Documents as against Borrowers or any
Secured Creditor, (ii) claim of damage if Borrowers or any Secured Creditor
defaults under the Credit Agreement or any of such other Loan Documents, or
(iii) right to object or consent to any amendment, modification, or supplement
to, or any restatement or replacement of, the Credit Agreement or any of such
other Loan Documents undertaken by Borrowers and Agent.

5. DEFAULT; SUBORDINATION; SUBROGATION AND CONTRIBUTION.

          5.1 Payment
of Guaranteed Obligations. At any time after all or any portion of the
Guaranteed Obligations are due and payable, whether on maturity, after the
acceleration of any of the Obligations, on the occurrence and continuance of an
Event of Default, on the occurrence and continuance of any default under this
Guaranty, or otherwise: (i) Agent will have the right: (a) to proceed directly
against any and each Guarantor under this Guaranty without first exhausting any
other remedy it may have and without resorting to any security or guaranty held
by Agent for the benefit of the Secured Creditors and (b) to compromise,
settle, release, discharge or terminate any of the obligations of any other
guarantor(s) of the Guaranteed Obligations as Agent, in its discretion
exercised in good faith, determines without thereby in any way affecting,
limiting or diminishing its rights thereafter to enforce the obligations of any
Guarantor under this Guaranty; (ii) Guarantors will, on the demand of Agent,
immediately deposit with Agent, for the benefit of the Secured Creditors, in
U.S. Dollars the total amount of the Guaranteed Obligations due and payable
(whether due as a result of the maturity, acceleration, or otherwise); (iii)
Agent will have the right to sell, collect, or otherwise dispose of and to
apply the proceeds of any collateral or other security given to Agent, for the
benefit of the Secured Creditors, with respect to the Guaranteed Obligations in
satisfaction of the Guaranteed Obligations; and (iv) Agent will have the right
to exercise all of the Secured Creditors’ other powers, rights and remedies
under this Guaranty, the Security Document, and the other Loan Documents and
under applicable law. No Secured Creditor will have any obligation to marshal
any assets in favor of Guarantors or against or in payment of any or all of the
Guaranteed Obligations.

          5.2 Subordination.
Until the Guaranteed Obligations have been fully paid, performed and satisfied,
(i) any and all claims of each Guarantor against Borrowers, any indorser or any
other guarantor of all or any part of the Guaranteed Obligations, or against
any of their respective Properties are, by the signing of this Guaranty, made
subordinate and subject in right of payment and performance to the prior
payment and performance to the Secured Creditors in full of all of the
Guaranteed Obligations and (ii) no Guarantor will exercise any right to enforce
any remedy which such Guarantor now has or may have in the future against
Borrowers, any indorser or any other guarantor of all or any part of the
Guaranteed Obligations.

          5.3 Subrogation;
Contribution. 

                    5.3.1
It is the intent of Guarantors and Borrowers that this Guaranty not be subject
to challenge on any basis. Accordingly, as of the date of this Guaranty, the
probable liability of each Guarantor under this Guaranty, together with all of
its other Liabilities to all Persons as of the date of this Guaranty and as of
any other date on which a transfer is deemed to occur by virtue of the Loan
Documents, calculated in amount sufficient to pay its probable net liabilities
on its existing debts as the same become absolute and matured (“Guarantor’s
Dated Liabilities”) is, and is to be, less than the amount of the aggregate
of the present fair salable value of its Property, and, if different, at a fair
valuation thereof, as of such corresponding date (“Guarantor’s Dated Assets”).
To this end each Guarantor (i) grants to and recognizes in the other Guarantors
rights of contribution and subrogation in the amount, if any, by which such
Guarantor’s Dated Assets, but for the aggregate of subrogation and contribution
rights in its favor recognized in this Guaranty and from Borrowers pursuant to
the Credit Agreement, would exceed such Guarantor’s Dated Liabilities or (ii)
as the case may be, acknowledges receipt of and recognizes rights of
contribution and subrogation ratably from Borrowers and the Guarantors in the
amount, if any, by which such Guarantor’s Dated Liabilities, but for the
aggregate of subrogation and contribution rights in its favor granted and
recognized in this Guaranty and from Borrowers pursuant to the Credit
Agreement, would exceed such Guarantor’s Dated Assets. In recognizing the value
of such Guarantor’s Dated Assets and such Guarantor’s Dated Liabilities, it is
understood that each Guarantor will recognize, to at least the same extent of
its aggregate recognition of liabilities under this Guaranty, its rights
(including each Secured Creditor’s obligations) under the Loan Documents and
its rights to subrogation and contribution under this Guaranty and from
Borrowers pursuant to the Credit Agreement. It is expressly recognized and
agreed to by each Guarantor that such Guarantor’s rights of contribution and
subrogation against the other Guarantors and Borrowers are expressly junior and
subordinate to the prior payment and performance in full of the Guaranteed
Obligations. 

                    5.3.2
It is a material objective of this Section 5.3 that each Guarantor
recognize rights of subrogation and contribution rather than be deemed to be
insolvent (or in contemplation thereof) by reason of an arbitrary interpretation
of this Guaranty or any of the other Loan Documents.

                    5.3.4
Borrowers grant to and recognize in each Guarantor rights of contribution and
subrogation in the amount, if any, by which such Guarantor’s Dated Liabilities
would exceed such Guarantor’s Dated Assets as a result of the probable
liability of such Guarantor under this Guaranty.

                    5.3.5
The provisions of this Guaranty are severable, and in any action or proceeding
involving any state corporate law, or any state, federal or foreign bankruptcy,
insolvency, reorganization or other law affecting the rights of creditors
generally, if the obligations of any Guarantor under this Guaranty would
otherwise be held or determined to be avoidable, invalid or unenforceable on
account of the amount of such Guarantor’s liability under this Guaranty, then,
notwithstanding any other provision of this Guaranty to the contrary, the
amount of such liability shall, without any further action by any Guarantor or
any Secured Creditor, be automatically limited and reduced to the highest
amount that is valid and enforceable as determined in such action or proceeding
(such highest amount determined hereunder being “Maximum Liability”).
This Section with respect to the Maximum Liability of Guarantors is intended
solely to preserve the rights of Secured Creditors to the maximum extent not
subject to avoidance under applicable law, and none of Guarantors or any other
Person shall have any right or claim under this Section with respect to such
Maximum Liability, except to the extent necessary so that the obligations of
Guarantors hereunder shall not be rendered voidable under applicable law. Each
Guarantor agrees that the Guaranteed Obligations may at any time and from time
to time exceed the Maximum Liability of Guarantors without impairing this
Guaranty or affecting the rights and remedies of any Secured Creditor
hereunder; provided
that nothing in this sentence shall be construed to increase any
Guarantor’s obligations hereunder beyond its Maximum Liability.

6. GENERAL.

          6.1 Cumulative
Remedies. The remedies provided in this Guaranty, the Security Document and
the other Loan Documents are cumulative and not exclusive of any remedies
provided by law. Exercise of one or more remedy(ies) by Agent does not require
that all or any other remedy(ies) be exercised and does not preclude later
exercise of the same remedy. If there is any conflict, ambiguity, or
inconsistency, in Agent’s judgment, between the terms of this Guaranty, the Security
Document, and any of the other Loan Documents, then the applicable terms and
provisions, in Agent’s judgment, providing the Secured Creditors with the
greater rights, remedies, powers, privileges, or benefits will control. 

          6.2
Waivers. Failure by Agent to exercise any right, remedy or
option under this Guaranty or in any of the other Loan Documents or delay by
Agent in exercising the same shall not operate as a waiver by Agent of its
right to exercise any such right, remedy or option. 

          6.3 Entire
Agreement; Amendments; Counterparts; Fax Signatures. This Guaranty, together with the other Loan
Documents to which Guarantors are a party, constitutes the entire agreement
between the parties with respect to the subject matter of this Guaranty, and
supersedes all prior written and oral agreements and understandings. Any
request from time to time by any Guarantor for the Secured Creditors’
amendment, modification or waiver of any provision in this Guaranty must be in
writing. No amendment, modification or waiver by the Secured Creditors shall be
effective unless it is in writing, signed by Guarantors and Agent (with the
consents that may be required pursuant to Section 12.4 of the Credit
Agreement). The Secured Creditors will have no obligation to provide any
amendment, modification or waiver requested by any Guarantor, and the Secured
Creditors may, for any reason in their discretion exercised in good faith,
elect to withhold consent to the requested amendment, modification or waiver. Two
or more duplicate originals of this Guaranty may be signed by the parties, each
of which shall be an original but all of which together shall constitute one
and the same instrument. Any documents delivered by, or on behalf of, any
Guarantor by fax transmission or other electronic delivery of an image file
reflecting the execution hereof (i) may be relied on by the parties as if the
document were a manually signed original and (ii) will be binding on such
Guarantor for all purposes of the Loan Documents. 

          6.4 Survival
and Continuation of Representations and Warranties. All of Guarantors’
representations and warranties contained in, or incorporated by reference in,
this Guaranty shall be true and correct in all material respects when made (or such
other date as may be specifically stated in such representation and warranty)
and shall, for all purposes of this Guaranty, be deemed to be repeated on and
as of the date that each representation and warranty set forth in the Credit
Agreement is required to be, or is deemed to be, remade pursuant thereto,
subject to any changes to such representations and warranties that (a) are not
prohibited hereby, (b) do not constitute an Event of Default or a default under
this Guaranty, or (c) have been consented to by Agent in writing.

          6.5 Headings;
Construction. Section headings in this Guaranty are included for
convenience of reference only and shall not relate to the interpretation or
construction of this Guaranty. Any and all
references in this Guaranty to any other document or documents will be
references to that other document or documents as they may, from time to time,
be modified, amended, renewed, consolidated, extended or replaced.

          6.6 Separate
Instrument. This Guaranty constitutes a separate instrument, enforceable in
accordance with its terms, and neither this Guaranty nor the obligations of any
Guarantor under this Guaranty will, under any circumstance or in any legal
proceeding, be deemed to have merged into any other agreement or obligation of
any Guarantor.

          6.7 Severability.
If any term of this Guaranty is found invalid under Ohio law or laws of
mandatory application by a court of competent jurisdiction, that invalid term
will be considered excluded from this Guaranty and will not invalidate the
remaining terms of this Guaranty.

           6.8 CHOICE OF LAW. THIS GUARANTY HAS BEEN DELIVERED AT AND ACCEPTED AT AND SHALL BE
DEEMED TO HAVE BEEN MADE AT CINCINNATI, OHIO. THIS GUARANTY SHALL BE DEEMED TO
BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF OHIO
(WITHOUT REFERENCE TO OHIO CONFLICTS OF LAW PRINCIPLES), EXCEPT TO THE
EXTENT OF THE APPLICATION OF OTHER LAWS OF MANDATORY APPLICATION.

          6.9 CHOICE
OF FORUM. AS A SPECIFICALLY BARGAINED INDUCEMENT FOR THE SECURED CREDITORS
TO ACCEPT THIS GUARANTY AND TO EXTEND CREDIT TO BORROWERS, EACH GUARANTOR AND
THE SECURED CREDITORS AGREE THAT ANY ACTION, SUIT OR PROCEEDING IN RESPECT OF
OR ARISING OUT OF THIS GUARANTY, ITS VALIDITY OR PERFORMANCE, WITHOUT
LIMITATION ON THE ABILITY OF THE SECURED CREDITORS, THEIR SUCCESSORS AND
ASSIGNS, TO INITIATE AND PROSECUTE IN ANY APPLICABLE JURISDICTION ACTIONS
RELATED TO THE REPAYMENT AND COLLECTION OF THE GUARANTEED OBLIGATIONS AND THE
EXERCISE OF ALL OF THE SECURED CREDITORS’ RIGHTS AGAINST GUARANTORS WITH 

RESPECT THERETO AND ANY SECURITY OR PROPERTY OF ANY GUARANTOR,
INCLUDING DISPOSITIONS OF THE COLLATERAL, SHALL BE INITIATED AND PROSECUTED AS
TO ALL PARTIES AND THEIR SUCCESSORS AND ASSIGNS AT CINCINNATI, OHIO. EACH
SECURED CREDITOR AND EACH GUARANTOR CONSENT TO AND SUBMIT TO THE EXERCISE OF
JURISDICTION OVER THEIR RESPECTIVE PERSONS BY ANY COURT SITUATED AT CINCINNATI,
OHIO HAVING JURISDICTION OVER THE SUBJECT MATTER, AND EACH CONSENTS THAT ALL
SERVICE OF PROCESS MAY BE MADE BY CERTIFIED MAIL DIRECTED TO GUARANTORS AND THE
SECURED CREDITORS AT THEIR RESPECTIVE ADDRESSES AS SET FORTH BELOW (OR SUCH
OTHER ADDRESS AS A PARTY MAY FROM TIME TO TIME DESIGNATE FOR ITSELF BY NOTICE
TO THE OTHER PARTY) OR AS OTHERWISE PROVIDED UNDER THE LAWS OF THE STATE OF
OHIO. EACH GUARANTOR WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS,
AND ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED UNDER THIS GUARANTY, AND CONSENTS TO THE GRANTING OF SUCH LEGAL OR
EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY THE COURT. 

          6.10 Successors
and Assigns. This Guaranty will inure to the benefit of the Secured
Creditors, and their respective successors and assigns, and will be binding on
the successors and assigns of each Guarantor.

          6.11
Notices. Any notice required, permitted or contemplated
hereunder shall be in writing and addressed to the party to be notified at the
address set forth below or at such other address as each party may designate
for itself from time to time by notice hereunder, and shall be deemed validly
given: (i) three days following deposit in the U.S. certified mails (return
receipt requested), with proper postage prepaid, or (ii) the next Business Day
after such notice was delivered to a regularly scheduled overnight delivery
carrier with delivery fees either prepaid or an arrangement satisfactory with
such carrier made for the payment thereof, or (iii) upon receipt of notice
given by telecopy (fax), mailgram, telegram, telex or personal delivery:

	
  

 	
  

 	
  

 
	
 To the Secured Creditors or Agent:

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Fifth Third
 Bank, as agent

 
	
  

 	
  

 	
 38 Fountain
 Square Plaza

 
	
  

 	
  

 	
 MD#10AT63

 
	
  

 	
  

 	
 Cincinnati,
 Ohio 45263

 
	
  

 	
  

 	
 Attn: Anne
 B. Kelly, Vice President

 
	
  

 	
  

 	
 Fax Number:
 (513) 534-8400

 
	
  

 	
  

 	
  

 
	
 To Guarantors:

 	
 c/o Industrial Services of America, Inc.

 
	
  

 	
  

 	
 7100 Grade Lane

 
	
  

 	
  

 	
 Louisville, Kentucky 40232

 
	
  

 	
  

 	
 Attn: Mr. Alan Schroering, Chief Financial Officer

 
	
  

 	
  

 	
 Fax Number: (502) 515-1700

 
	
  

 
	
 With a copy
 to Guarantors’ counsel (“Counsel”): 

 
	
  

 
	
  

 	
  

 	
 Stites &
 Harbison PLLC

 
	
  

 	
  

 	
 400 W.
 Market Street, Suite 1800

 
	
  

 	
  

 	
 Louisville,
 Kentucky 40202-3352

 
	
  

 	
  

 	
 Attn: Alex
 P. Herrington, Jr., Esq.

 
	
  

 	
  

 	
 Fax Number:
 (502) 779-8234

 

          provided
that (i) notice given to Counsel is not deemed notice to Guarantors and (ii)
Agent’s failure to deliver any notice to Counsel will not affect the validity
or effectiveness of any notice or notification given to Guarantors.

          6.12 Separate
Action. Each default in payment of any amount due under this Guaranty will,
at Agent’s sole option, give rise to a separate cause of action under this
Guaranty, and separate suits, at Agent’s sole option, may be brought under this
Guaranty as each cause of action arises. 

          6.13 Equitable
Relief. Each Guarantor recognizes that, in the event any Guarantor fails to
perform, observe or discharge any of its obligations or liabilities under this
Guaranty, any remedy at law may prove to be inadequate relief to the Secured
Creditors; therefore, each Guarantor agrees that the Secured Creditors, if the
Secured Creditors so request, shall be entitled to temporary and permanent
injunctive relief in any such case without the necessity of proving actual
damages. 

          6.14 Recourse to Directors or Officers. The obligations of the Secured Creditors, if
any, under this Guaranty are solely the corporate obligations of the Secured
Creditors. No recourse shall be had for any obligation or claim arising out of
or based upon this Guaranty against any stockholder, employee, officer, or
director of any Secured Creditor.

          6.15 Indemnification.
Without limiting the provisions of Section
12.5 of the Credit Agreement or any other provision for indemnification in
any other Loan Document, each Guarantor absolutely, irrevocably and
unconditionally hereby agrees to indemnify and hold harmless each Secured Creditor
against any and all claims, demands, suits, actions, causes of action, damages,
losses, settlement payments, obligations, costs, expenses and all other
liabilities whatsoever, INCLUDING,
WITHOUT LIMITATION, AS A RESULT OF ANY SECURED CREDITOR’S OWN NEGLIGENCE (collectively, “Indemnified
Liabilities”) which shall at any time or times be incurred or sustained by
any Secured Creditor or by any of their respective shareholders, directors,
officers, employees, Subsidiaries, Affiliates or agents on account or in
relation to, or in any way in connection with, any of the arrangements or
transactions contemplated by, associated with, arising out of, or ancillary to
this Guaranty or any of the other Loan Documents to which such Guarantor is a
party, whether or not all or any of the transactions contemplated by,
associated with or ancillary to this Guaranty or any of such Loan Documents are
ultimately consummated, provided that
Guarantors will not be obligated to indemnify an indemnified party in
accordance with this Section 6.15 to the extent such Indemnified
Liabilities resulted from a breach by such indemnified party of its express
obligations under this Guaranty or the gross negligence or willful misconduct
of such indemnified party. NOTICE
IS HEREBY GIVEN THAT THIS GUARANTY CONTAINS INDEMNIFICATION PROVISIONS IN THIS SECTION
6.15 THAT APPLY TO, AND EACH GUARANTOR HEREBY ACKNOWLEDGES AND AGREES THAT THE
FOREGOING INDEMNITY SHALL BE APPLICABLE TO, ANY INDEMNIFIED LIABILITIES (AS
DEFINED IN THIS SECTION 6.15) THAT HAVE RESULTED FROM OR ARE ALLEGED TO HAVE
RESULTED FROM THE ACTIVE OR PASSIVE OR THE SOLE, JOINT OR CONCURRENT ORDINARY
NEGLIGENCE OF ANY SECURED CREDITOR OR ANY OTHER INDEMNIFIED PARTY UNDER THIS SECTION
6.15. The indemnification provided for in this Section
6.15 is in addition to, and not in limitation of, any other indemnification
or insurance provided by any Guarantor to any Secured Creditor.

          6.16 Limitation
of Liability. No claim may be made by any Guarantor or any other Person
against the Secured Creditors or any of their Affiliates for any special,
indirect, consequential or punitive damages in respect of any claim for breach
of contract or any other theory of liability arising out of or related to the
transactions contemplated by this Guaranty or any other Loan Document or any
act, omission or event occurring in connection therewith, and each Guarantor
hereby waives, releases and agrees not to sue upon any claim for such damages,
whether or not accrued and whether or not known or suspected to exist in its
favor and agree that the only liability therefor against the Secured Creditors
shall be for direct damages determined in a final nonappealable judgment by a
court of competent jurisdiction to have resulted from such Person’s breach of its
express obligations under this Guaranty, or such Person’s gross negligence, bad
faith or willful misconduct. 

          6.18 WAIVER
OF JURY TRIAL. AS A SPECIFICALLY BARGAINED INDUCEMENT FOR THE SECURED
CREDITORS TO ENTER INTO THIS GUARANTY AND EXTEND CREDIT TO BORROWERS,
GUARANTORS AND THE SECURED CREDITORS EACH WAIVE TRIAL BY JURY WITH RESPECT TO
ANY ACTION, CLAIM, SUIT OR PROCEEDING IN RESPECT OF OR ARISING OUT OF THIS
GUARANTY. 

          6.19 Maximum
Aggregate Liability; Termination. The maximum aggregate liability of
Guarantors under this Guaranty is $48,800,000. In addition to such maximum
aggregate liability, Guarantors shall be liable under this Guaranty for
interest accruing on the Guaranteed Obligations and fees, charges, and costs of
collecting the Guaranteed Obligations, including reasonable attorneys’ fees.
Notwithstanding anything to the contrary in Section 2.6 but subject to Section
2.2, this Guaranty shall terminate on July 31, 2013 (the “Termination
Date”); provided,
however, that if this Guaranty terminates at a time as of when the
Guaranteed Obligations have not been paid in full, such termination shall not
affect any Guarantor’s liability with respect to: (a) Guaranteed Obligations
created or 

incurred prior to the Termination Date, or (b) extensions or renewals
of, interest accruing on, or fees, costs or expenses incurred with respect to,
such Guaranteed Obligations on or after the Termination Date. For purposes of
this provision, the outstanding balance of the Notes as of the Termination Date
shall be deemed to be the amount of each Note which is used to calculate the
aggregate amount of Guaranteed Obligations on the Termination Date and at all
times thereafter. This Section 6.19 is included in this Guaranty as a
precaution in the event that, notwithstanding the intentions of the parties as
expressed in Section 6.8, this Guaranty is determined to be governed by
the laws of the Commonwealth of Kentucky. If, in accordance with Section 6.8,
this Guaranty is governed by the laws of the State of Ohio, this Section
6.19 shall be disregarded and of no force or effect.

          6.20 Joint
Obligations. All of the obligations of Guarantors hereunder are joint,
several and primary. 

[Signature Page Follows]

          IN WITNESS
WHEREOF, Guarantors, intending to be legally bound, have duly executed this
Guaranty as of the Effective Date.

	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 ISA Indiana Real Estate, LLC

 
	
  

 	
 ISA Logistics LLC

 
	
  

 	
 ISA Real Estate, LLC

 
	
  

 	
 7021 Grade Lane LLC

 
	
  

 	
 7124 Grade Lane LLC

 
	
  

 	
 7200 Grade Lane LLC

 
	
  

 	
 Computerized
 Waste Systems, LLC

 
	
  

 	
 ISA
 Recycling LLC

 
	
  

 	
 Waste
 Equipment Sales & Service Co., LLC

 
	
  

 	
  

 	
  

 
	
  

 	
 By: 

 	
 Industrial Services of America, Inc., sole member

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By: 

 	
  

 
	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
 Harry
 Kletter, Chief Executive Officer

 
	
  

 	
  

 	
  

 	
  

 
	
 Accepted at
 Cincinnati, Ohio,

 as of the Effective Date.

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 
	
 FIFTH THIRD
 BANK, as Agent

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 By: 

 	
  

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	
  

 	
  

 
	
  

 	
 Anne B.
 Kelly, Vice President

 	
  

 	
  

 	
  

 

ACKNOWLEDGMENT
OF GUARANTY

          Each of the
undersigned, intending to be legally bound, has executed and delivered this
Acknowledgment of Guaranty (this “Acknowledgment”). Without limiting any
provision of any Loan Document, each of the undersigned specifically agrees to
be bound by Sections 5.2 and 5.3 of the foregoing Guaranty.

          Capitalized
terms used but not defined herein will have the meanings given to them in the
Credit Agreement (as defined in the foregoing Guaranty). This Acknowledgment
may be executed in multiple counterparts, each of which shall constitute an
original, but all of which together shall constitute one and the same agreement.
This Acknowledgment may be signed by facsimile signatures or other electronic
delivery of an image file reflecting the execution hereof, and if so signed,
(i) may be relied on by the parties as if the document were a manually signed
original and (ii) will be binding on the parties for all purposes. 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 INDUSTRIAL
 SERVICES OF AMERICA, INC.

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
  

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Harry
 Kletter, Chief Executive Officer

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 ISA INDIANA,
 INC.

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 By: 

 	
  

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Harry
 Kletter, Chief Executive Officer

 
	
  

 	
  

 	
  

 	
  

 
	
 Accepted at
 Cincinnati, Ohio,

 as of the Effective Date.

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 
	
 FIFTH THIRD
 BANK, as Agent

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 
	
 By: 

 	
  

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	
  

 	
  

 
	
  

 	
 Anne B.
 Kelly, Vice PresidentExhibit 10.15

EXHIBIT I

FORM OF AGREEMENT REGARDING
INSURANCE

AGREEMENT REGARDING INSURANCE

	
  

 	
  

 
	
 Re:

 	
 Pruco Life Insurance Company (“Insurance
Company”) — Policy No. L8496479 on the life of Brian G. Donaghy (“Policy”) 

 

          Industrial
Services of America, Inc., a Florida corporation (“Assignor”), the owner
of the above referenced Policy, hereby agrees with Fifth Third Bank, an Ohio
banking corporation, as Agent for the benefit of the Secured Creditors (as
defined below) (“Agent”) that:

          1.
As security for the Obligations (as defined in the Credit Agreement among
Assignor, ISA Indiana, Inc., Agent and the other Secured Creditors party
thereto, dated July 30, 2010 (the “Closing Date”) as may be amended from
time to time, hereinafter “Credit Agreement”), Assignor hereby assigns,
transfers, and conveys all of its right, title, and interest in and to the
Policy to Agent. The Policy will, on assignment to Agent, become a part of the
Loan Collateral (as defined in the Credit Agreement). Until the Obligations are
fully and finally paid, Assignor will (a) not make or grant any further
assignments, transfers, or other dispositions of the Policy or any right or
interest therein nor grant or permit to exist any lien, security interest,
claim or other encumbrance on the Policy or any right or interest therein
except in favor of Agent, (b) make all of the premium, deposit, and other
payments under the Policy to keep the Policy in full force and effect (“Policy
Payments”), and (c) not borrow against or make withdrawals of the available
cash surrender value of the Policy. Assignor hereby represents and warrants to
Agent that (i) all Policy Payments have been paid and are current, (ii) there
are no liens, security interests, claims or other encumbrances on the Policy,
and (iii) there are no loans against, or withdrawals of the available cash
surrender value of, the Policy. “Secured Creditors” means, collectively,
Agent, the LC Issuer and the Lenders.

          2.
In addition to, and not in lieu of, Agent’s rights under the Assignment (as
defined below) and the other Loan Documents (as defined in the Credit
Agreement), but subject to the provisions of Section 5 of this
Agreement, the rights, powers, and interests assigned, transferred, and
conveyed to Agent with respect to the Policy, include, for example, the right
of Agent: (a) to make and apply for all proceeds payable under the Policy at
the death of the insured and at the maturity of the Policy, (b) to make and
apply for and obtain the net proceeds under the Policy, (c) to pay any and all
of the Policy Payments if Assignor does not make any Policy Payment when due or
during the continuance of an “Event of Default” under the Credit
Agreement, (d) during the existence or continuation of any “Event of Default”
under the Credit Agreement, to apply for and obtain the surrender value
benefits, if any, under the Policy, (e) to receive payment of and endorse,
during the existence or continuation of any “Event of Default” under the
Credit Agreement, any instrument in payment of the net proceeds payable under
the Policy or the return of premiums or other refunds pertaining to the Policy,
and (f) to take any and all actions with respect to the Policy to preserve,
perfect, or protect Agent’s, and the Secured Creditors’, rights and interests
in the Policy. To the extent that the above described powers, rights, and
interests have not been assigned to Agent, Assignor hereby appoints Agent, or
any person whom Agent may designate, as Assignor’s attorney with the full right
and power to exercise any and all of the above described powers, rights, and
interests in Assignor’s name and stead. Amounts actually received by Agent
under the Policy will be applied against the Obligations in such order and
method of application as may be elected by Agent in its discretion exercised in
good faith.

          3.
It will be an “Event of Default” under the Credit Agreement if Agent
does not receive, within 30 days of the date of this Agreement (a) the Request
for Collateral Assignment dated July 30, 2010, in the form attached (“Assignment”),
duly acknowledged by the Insurance Company, (b) a letter from the Insurance
Company indicating (i) that, except for the Assignment, there are no other
outstanding assignments of the Policy, (ii) the cash surrender value of the
Policy, if any, and (iii) the amount of loans made by the Insurance Company to
Assignor, and (c) if the original policy is not delivered to Agent at closing,
the original, or a duplicate original, of the Policy issued by Insurance
Company.

          4. The
terms of the Assignment to the contrary notwithstanding:

	
  

 	
  

 
	
  

 	
 (a) Assignor may not exercise any rights
 with respect to the Policy (except the right to designate and change the
 beneficiary subject to this Agreement and the Assignment) without the prior,
 written consent of Agent; and

 
	
  

 	
  

 
	
  

 	
 (b) The Policy shall be security for the
 full and prompt payment and performance of the Obligations (as defined in the
 Credit Agreement).

 

          5.
Subject to the proviso at the end of this Section 5, Agent acknowledges that
Brandy Donaghy, as primary beneficiary, and Colin Donaghy, as contingent
beneficiary, (collectively, the “Individual Beneficiaries”) are
currently entitled to one-fifth of the death benefit payable under the Policy,
and should the Insured die during any time any Obligations are outstanding,
Bank will permit one-fifth of the death benefit, if any, to be paid by
Insurance Company to the Individual Beneficiaries in accordance with the terms
of the Policy. Notwithstanding the foregoing, Bank shall be entitled to receive
no less than $4,000,000 of the death benefit payable under the Policy.

          6.
As a condition of this Agreement, Assignor shall cause the Individual
Beneficiaries, by executing the Consent to Assignment provided after the signatures
below, to consent to this Agreement, to the Assignment and to the transactions
contemplated hereby.

          7.
As between Agent and Assignor and their respective successors and assigns, the
Assignment will not in any way impair, alter, modify, change, or in any way
adversely affect Agent’s rights and remedies under the Credit Agreement or the
other Loan Documents; and, in the event of any ambiguity, conflict, or
inconsistency between the terms of the Assignment, on the one hand, and the
Credit Agreement, this Agreement, and the other Loan Documents on the other,
the Credit Agreement, this Agreement and the other Loan Documents, as between
Secured Creditors and Assignor and their respective successors and assigns,
will control.

          This
Agreement Regarding Insurance has been duly executed by Assignor as of the
Closing Date. 

	
  

 	
  

 	
  

 
	
  

 	
 INDUSTRIAL SERVICES OF AMERICA, INC.

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Harry Kletter, Chief Executive Officer

 

Accepted as of the Closing Date.

FIFTH THIRD BANK, as Agent

	
  

 	
  

 	
  

 
	
 By:

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 Anne B. Kelly, Vice President

 

CONSENT TO ASSIGNMENT

                    In
satisfaction of the condition set forth in Section 6 of the above
Agreement Regarding Insurance (the “Agreement”), the undersigned hereby
consents to the Agreement, to the Assignment and to the transactions
contemplated thereby. This Consent to Assignment shall not be construed, by
implication or otherwise, as imposing any requirement that Bank notify or seek
the consent of the Individual Beneficiaries relative to the Agreement Regarding
Insurance or, among other things, to any past or future action with respect
thereto. All capitalized terms used in this Consent to Assignment and not
otherwise defined herein shall have the meanings ascribed thereto in the
Agreement.

                    IN
WITNESS WHEREOF, the Individual Beneficiaries have executed this Consent to
Assignment to be effective as of the date of the Agreement.

	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 Brandy Donaghy

 	
  

 
	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 
	
  

 	
 Colin Donaghy, by Brandy Donaghy,

 	
  

 
	
  

 	
 Parent and Natural Guardian

 	
  

 

	
  

 	
  

 
	
 COMMONWEALTH
 OF KENTUCKY

 	
 )

 

	
  

 	
 ) SS:

 
	
 COUNTY
 OF___________

 	
 )

 

          The
foregoing instrument was acknowledged before me this ____ day of July, 2010 by
Brandy Donaghy, individually and as the parent and natural guardian of Colin
Donaghy.

	
  

 	
  

 
	
  

 	

 

 
	
  

 	
         Notary
 Public

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