Document:

Unassociated Document

    Exhibit
10.1

     

    THIRD FORBEARANCE
AGREEMENT

     

    THIS
THIRD FORBEARANCE AGREEMENT (this “Agreement”) is made
and entered into as of April 27, 2009, by and among, BUTLER SERVICE GROUP, INC.,
a New Jersey corporation (“Borrower”), the other
Credit Parties signatory hereto, the Lenders signatory hereto and GENERAL
ELECTRIC CAPITAL CORPORATION, a Delaware corporation (“GECC”), as Lender and
as administrative agent for the Lenders (in such capacity, the “Agent”) under the
Credit Agreement (as hereinafter defined).

     

    RECITALS

     

     

               WHEREAS,
Borrower, the other Credit Parties, Lenders and Agent are party to that certain
Third Amended and Restated Credit Agreement, dated as of August 29, 2007 (as
amended to date, the “Credit Agreement”;
capitalized terms used herein and not defined herein shall have the meanings
assigned to them in the Credit Agreement), pursuant to which the Lenders have
made available to Borrower a revolving loan and other extensions of credit
(including letters of credit) in the original maximum principal amount of
$45,000,000; and

     

     

               WHEREAS,
Borrower, the other Credit Parties, Lenders and Agent entered into a Forbearance
Agreement, dated as of April 20, 2009 (the “Prior Forbearance
Agreement”), pursuant to which Lenders and Agent, inter alia, agreed to
forbear from exercising their rights and remedies with respect to certain
ongoing Defaults and Events of Default; and

     

     

               WHEREAS,
on the date hereof, the aggregate outstanding principal balance of the Revolving
Loan is $15,239,894.17; and

     

     

               WHEREAS,
Events of Default have occurred and are continuing under Sections 8.1(b),
8.1(c), 8.1(d), 8.1(e), 8.1(f) and 8.1(l) of the Credit
Agreement arising out of (a) Borrower’s failure to comply with the minimum
Borrowing Availability covenant set forth in clause (d) of Annex G of the Credit
Agreement for each of the August 1, 2008, August 15, 2008 and September 12,
2008, February 6, 2009, March 6, 2009, March 13, 2009, March 20, 2009, March 27,
2009, April 3, 2009, April 17, 2009 and April 24, 2009 testing dates as required
to be maintained pursuant to Section 6.10 of the
Credit Agreement, (b) Borrower’s delivery of a Borrowing Base Certificate to
Agent on July 22, 2008 which contained certain information which was untrue or
incorrect, (c) Borrower’s failure to promptly pay and discharge all Charges
payable by it as required by Section 5.2(a) of the
Credit Agreement, (d) Borrower’s failure to deliver to Agent the financial and
other information (other than Borrower’s 10-Q for the Fiscal Quarter ended
September 30, 2007) required by Section 4.1(a) and
clause (r) of
Annex E of the
Credit Agreement to be delivered on or prior to September 15, 2008, (e)
Borrower’s failure to deliver to Agent the financial and other information
required by Section
4.1(a) and clause (a) of Annex E of the Credit
Agreement for the Fiscal Month ended on September 28, 2008 to be delivered on or
prior to October 28, 2008, (f) Borrower’s failure to deliver to Agent the
financial and other information required by Section 4.1(a) and
clause (b) of
Annex E of the
Credit Agreement for the Fiscal Month ended on September 28, 2008 to be
delivered on or prior to November 12, 2008, (g) Borrower’s failure to comply
with Section
6.1 of the Credit Agreement, (h) Borrower’s failure to comply with Section 6.20 of the
Second Lien Credit Agreement, (i) Borrower’s failure to comply with Section 4(f) of that
certain Seventh Amendment to Second Lien Credit Agreement dated as of December
31, 2008, (j) Borrower’s failure to comply with those certain Side Letters,
dated as of December 23, 2008 and January 15, 2009, respectively, by and among
Agent and the Credit Parties, by failing to enter into definitive purchase or
financing agreement for an asset sale or refinancing by not later than March 1,
2009, and (k) a Change of Control having occurred under Section 8.1(l) of the
Credit Agreement (collectively, the “Existing Events of
Default”); and

     

    
      
        
        

      

      
         

        
          

        

      

      
        
        

      

    

     

               WHEREAS,
as a result of the occurrence and continuance of the Existing Events of Default,
Agent has the right to demand immediate payment of all of the Obligations, to
make demand upon Guarantors for the payment of all of the Obligations and to
exercise any and all rights and remedies available to Agent and the Lenders at
law, in equity or by agreement (including, without limitation, pursuant to the
Security Agreements and the other Loan Documents) (collectively, “Rights and
Remedies”); and

     

               WHEREAS,
Borrower recognizes the occurrence and continuance of the Existing Events of
Default; and

     

               WHEREAS,
the Prior Forbearance Agreement has expired under its own terms as of the date
hereof; and

     

               WHEREAS,
Borrower and Guarantors have each requested that Agent on behalf of Lenders
continue to forbear from the exercise of Agent’s and Lenders’ Rights and
Remedies available under the Credit Agreement as a result of the occurrence of
the Existing Events of Default; and

     

    WHEREAS,
Agent and Requisite Lenders are willing to grant such forbearance upon the terms
and subject to the conditions and limitations set forth herein.

     

    NOW,
THEREFORE, in consideration of the foregoing premises and the agreements and
undertakings contained herein, for $10.00, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound, hereby agree as
follows:

    

    1.           Acknowledgments by the
Credit Parties.  Borrower and each of the Credit Parties
acknowledges and agrees as follows:

     

    (a)           Acknowledgment of
Default.  That on and as of the Effective Date (as defined
below): (i) Events of Default exist and continue to exist, including, without
limitation, the Existing Events of Default; (ii) timely, adequate and proper
notice (notwithstanding that such notice is not required under Section 8.2 of the
Credit Agreement) of the occurrence of the Existing Events of Default has been
received by Borrower and Guarantors from Agent (and Borrower waives any
requirement that any such notice be in writing); (iii) all grace periods, if
any, applicable to the cure of such Existing Events of Default after receipt of
such notice have expired; (iv) each of said Events of Default was and is
continuing without timely cure by the Borrower or Guarantors; and (v) Agent and
Lenders have not waived in any respect any or all of such Events of Default or
their respective Rights and Remedies with respect thereto.

     

    (b)           Acknowledgment of Right of
Acceleration.  That (i) on and as of the Effective Date, the
Revolving Loan and all accrued and unpaid interest thereon, together with other
outstanding charges permissible under the Credit Agreement, are due and payable
in full, and Agent has the right to accelerate and declare all Obligations to be
immediately due and payable and to make demand upon Borrower and Guarantors for
the payment in full of all Obligations; (ii) such acceleration and demand for
payment is in all respects adequate and proper; (iii) that Agent on its own
behalf, or on behalf of the Lenders, has the right to exercise all other rights
and remedies permitted under the Loan Documents; and (iv) Borrower waives any
and all further notice, presentment, notice of dishonor or demand with respect
to the Obligations.

     

    
      
        
        

      

      
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    (c)           Acknowledgment of
Obligations.  That on and as of the Effective Date, (i)
Borrower is indebted to Lenders in the amount set forth in the recitals to this
Agreement, plus costs and fees payable pursuant to and in accordance with the
Credit Agreement; (ii) all such amounts are due and payable in full, without
offset, deduction or counterclaim of any kind or character whatsoever, but are
subject to increase, decrease or other adjustment as a result of any and all
interest, fees and other charges including, without limitation, attorneys’ fees
and costs of collection, which are payable to Agent and Lenders under the Credit
Agreement and the other Loan Documents; and (iii) Agent’s liens and security
interests in the Collateral are fully enforceable, non-avoidable and of first
priority status (provided, that with
respect to the Montvale Property Agent’s liens and security interests are of
second priority status subject only to the lien of the Second Lien
Agent).

     

    (d)           Acknowledgment that
Liabilities Continue in Full Force and Effect.  That the Credit
Agreement, the other Loan Documents, and all other respective liabilities and
obligations of Borrower to Agent and Lenders shall, except as expressly modified
herein, remain in full force and effect, and shall not be released, impaired,
diminished or in any other way modified or amended as a result of the execution
and delivery of this Agreement or by the agreements and undertakings of the
parties contained herein.

     

    2.           Agreement to
Forbear.

     

    (a)           For
the period (the “Forbearance Period”)
beginning as of the date first above written and ending on the earlier to occur
of (a) 5:00 p.m., New York time, on May 4, 2009, and (b) termination of this
forbearance as provided herein, Agent and Lenders, without waiving, curing or
ceasing the continuance of the Existing Events of Default, hereby agree to
forbear from the exercise of any of their Rights and Remedies available under
the Credit Agreement and the Loan Documents on account of the Existing Events of
Default.  Neither Agent nor Lenders shall have any obligation to make
any Loans, issue, extend or renew, and Borrower shall not request the issuance,
extension or renewal of, any Letters of Credit or otherwise extend credit to
Borrower under the Credit Agreement during the Forbearance
Period.  Lenders have considered and will continue to consider during
the Forbearance Period, in their sole discretion, whether to honor borrowing
requests or requests for issuances of Letters of Credit which shall, in any
case, be made pursuant to and in compliance with the Budget (as hereinafter
defined).  Any past or future Loans to, or issuances of Letters of
Credit for the account of, Borrower should not be considered an agreement,
express or implied, on the part of Lenders to make any additional Loans or to
issue any additional Letters of Credit or an agreement to waive any terms of the
Credit Agreement in the future, including, without limitation, the satisfaction
of conditions precedent to funding.  Agent’s and Lenders’ forbearance
provided for herein shall be effective only with respect to the Existing Events
of Default and shall terminate and cease to be of force and effect, and Agent
and Lenders may exercise all of their respective rights and remedies as may be
available under the Credit Agreement and under applicable law, in Agent’s
discretion by a written notice to Borrower upon or after the occurrence of any
other Default or Event of Default under the Credit Agreement or any Loan
Document (other than the Existing Events of Default) or a Default or Event of
Default under the terms of this Agreement (individually a “Forbearance Default”
and, collectively, the “Forbearance
Defaults”).

     

    (b)           During
the Forbearance Period, and provided Agent has not elected to terminate the
Forbearance Period following the occurrence of a Forbearance Default in its
discretion in accordance with the last sentence of Section 2(a) of this
Agreement and that the terms and conditions of this Agreement are otherwise
satisfied, Agent and Lenders agree that Agent shall not accelerate, nor shall
Lenders direct Agent to accelerate, the Obligations owed to Lenders under the
Credit Agreement or otherwise exercise any of their rights and remedies, in each
case, as a result of the Existing Events of Default outlined
herein.

     

    
      
        
        

      

      
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    (c)           Each
of the parties hereto agree that any making of Loans or issuances of additional
Letters of Credit in the Lenders’ discretion as described in Section 2(a) of this
Agreement, whether now or at any time in the future, shall constitute
Obligations under the Credit Agreement and Overadvances made under Section 1.1(a)(iii)
of the Credit Agreement to protect and preserve the Collateral and the interests
of the Lenders.

     

    3.           Covenants.

     

    (a)           From
and after the date of this Agreement, the Borrower agrees to expend funds solely
in accordance with a budget attached to this Agreement as Exhibit A (the “Budget”).  Under
no circumstances will the Borrower exceed the total budgeted amount or the
amounts of any expenditures contained in the Budget, except as authorized in
writing by Agent.  The Borrower may amend the Budget, provided that
the Budget, as so amended, has been previously approved by Agent in
writing.

     

    (b)           Borrower
and each other Credit Party agrees to provide to Agent such resolutions and such
other documents, instruments and agreements as Agent may reasonably
request.

     

    (c)           Each
Credit Party covenants and agrees that it will continue to pay all Charges in
accordance with Section 5.2 of the
Credit Agreement from and after the Effective Date, and that such Credit Party
will not permit the aggregate amount of liabilities of the Borrower and the
other Credit Parties for unpaid payroll taxes arising out of payroll paid prior
to the date set forth as the “last payroll payment date” in any Borrower
certification to Agent or any Lender as to the amount of outstanding payroll
taxes to exceed 427,867.72.

     

    (d)           The
Borrower shall deliver to Agent, on a weekly basis no later than 9:00 a.m. (New
York time) on each Tuesday, a variance report setting forth the actual receipts
and disbursements to the Budget for such week and a comparison to the actual
receipts and disbursements to the Budget for the prior week.

     

    (e)           The
Borrower acknowledges and agrees that on or prior to the Effective Date
Overadvances have occurred and that non-refundable fees have accrued and are
outstanding in the aggregate amount of $2,050,000.00 in accordance with
Section 1.9(e)
of the Credit Agreement (such fees, collectively, the “Overadvance
Fee”).  Notwithstanding the requirements of Section 1.9(e) of the
Credit Agreement, Agent agrees that such Overadvance Fee shall be payable, and
Borrower covenants and agrees that it will pay the Overadvance Fee, on the
Commitment Termination Date.

     

    4.           Representations and
Warranties.  The Borrower and each other Credit Party
represents and warrants to Agent and Lenders that: (i) it has had the
opportunity to consult with counsel, and has been fully advised by legal counsel
of its rights and responsibilities under this Agreement and of the legal effect
hereof; (ii) it has read and fully understands the contents of this Agreement,
and each has freely and voluntarily executed this Agreement; (iii) it is
sophisticated and knowledgeable in financial matters, both generally and with
respect to transactions of the type described in the Loan Documents and the
modification to these transactions to be effected by this Agreement and the
documents, instruments and transactions contemplated thereby; (iv) it has
received and has independently reviewed and evaluated a copy of this Agreement
and all other documents and instruments executed or delivered in connection
therewith, and fully understand the transactions contemplated thereby; (v) it
has made such independent review and evaluation, as well as all other decisions
pertaining to the execution and delivery of this Agreement, without any reliance
upon any oral or written representation, warranty, advice or analysis of any
kind whatsoever from the Released Parties (as defined below), however obtained;
(vi) it has determined, following such independent review and evaluation, that
the benefits of the transactions contemplated by this Agreement are direct and
substantial; (vii) the individual signing this Agreement on behalf of the
Borrower and each other Credit Party is duly authorized and fully empowered to
do so; (viii) the consideration flowing to Borrower and each other Credit Party
under this Agreement is in all respects substantial and sufficient; (ix) this
Agreement has been duly and validly executed and delivered by the Borrower and
each other Credit Party and is the valid and legally binding obligation of the
Borrower, enforceable in accordance with its terms, (x) Agent and Lenders are
authorized to discuss financial and other matters related to the Borrower and
each other Credit Party, (xi) the Borrower and each other Credit Party hereby
restates and renews each and every representation and warranty heretofore made
by it in the Credit Agreement and the other Loan Documents as fully as if made
on the Closing Date and with specific reference to this Agreement and all other
Loan Documents executed and/or delivered in connection herewith, but excluding
therefrom the effect of the Existing Events of Default, and (xii) as of April
27, 2009, the aggregate amount of liabilities of the Borrower and the other
Credit Parties for unpaid payroll taxes equals $457,243.86, consisting of (i)
$427,867.72 in liabilities for unpaid payroll taxes arising out of payroll paid
prior to April 27, 2009, (ii) $29,376.14 in liabilities for unpaid payroll taxes
arising out of payroll paid on April 24, 2009.

     

    
      
        
        

      

      
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    5.           No
Novation.  Nothing in this Agreement shall be construed to
constitute a novation of the Notes or any other Obligations arising under the
Loan Documents, related to any of the Notes, or to release, satisfy, discharge
or otherwise affect or impair in any manner whatsoever: (i) the validity or
enforceability of the Notes or any other Obligations arising under the Credit
Agreement or any other Loan Document; (ii) the charges, liens, pledges, security
interests, assignments and conveyances effected by any agreement securing the
Obligations arising under the Credit Agreement or any other Loan Document, or
the priority thereof; (iii) the liability of Guarantors and Borrower under the
Credit Agreement and all other Loan Documents or any other person that may now
or hereafter be liable under the Credit Agreement and the other Loan Documents
or any agreement securing the same; and (iv) any other security or instrument
now or hereafter held by Agent as security for or as evidence of any of the
above described indebtedness.  Without limiting the foregoing, the
parties agree that Agent and Lenders hereby reserve any and all legal rights and
remedies available to them at law, in equity, under the Credit Agreement and the
Loan Documents.

     

    6.           Strict
Compliance.  As a result of Agent and Lenders’ current and
prior accommodations to Borrower, to ensure that there is no misunderstanding
and to provide Borrower with reasonable notice that Agent and Lenders intend to
rely on the exact terms of the Credit Agreement, as amended, Borrower is hereby
notified that Agent and Lenders will insist on strict compliance with the Credit
Agreement, except as otherwise provided herein.

     

    7.           Outstanding Obligations;
Release.

     

    (a)           Each
of Borrower and the other Credit Parties hereby acknowledges and agrees that as
of April 27, 2009, the aggregate outstanding principal amount of the Revolving
Loan is $15,239,894.17 (of which $1,969,515.95 constitutes the aggregate
outstanding Letters of Credit Obligations), and that such principal amounts are
payable pursuant to the Credit Agreement without defense, offset, withholding,
counterclaim or deduction of any kind.  Borrower, on behalf of itself
and the other Credit Parties hereby releases, acquits, forever discharges and
covenants not to sue GECC, Agent or any of the Lenders, and each and every past
and present subsidiary, affiliate, stockholder, officer, director, agent,
servant, employee, representative, and attorney of GECC, Agent and each Lender
(collectively, the “Released Parties”),
from or for any and all claims, causes of action, suits, debts, liens,
obligations, liabilities, demands, losses, costs and expenses (including
attorneys’ fees) of any kind, character or nature whatsoever, known or unknown,
fixed or contingent, which any Borrower or any other Credit Party may have or
claim to have now arising out of or connected with any act of commission or
omission of GECC, Agent or any of the Lenders existing or occurring prior to the
Effective Date or any instrument executed prior to the Effective Date including,
without limitation, any claims, liabilities or obligations arising with respect
to the Obligations evidenced by the Credit Agreement, the Loans or any of the
Loan Documents.  The provisions of this Agreement shall be binding
upon the Borrower and each other Credit Party shall inure to the benefit of
GECC, Agent and each of the Lenders, and shall likewise be binding upon the
Borrower’s and each other Credit Party’s respective heirs, executors,
administrators, successors and assigns.

     

    
      
        
        

      

      
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    (b)           Each
Credit Party that is a signatory hereto shall jointly and severally indemnify
and hold harmless each of GECC, Agent, Lenders and their respective Affiliates,
and each such Person’s respective officers, directors, employees, attorneys,
agents and representatives (each, an “Indemnified Party”),
from and against any and all suits, actions, proceedings, claims, damages,
losses, liabilities and expenses (including reasonable attorneys’ fees and
disbursements and other costs of investigation or defense, including those
incurred upon any appeal) that may be instituted or asserted against or incurred
by any such Indemnified Person as the result of credit having been extended,
suspended or terminated under the Credit Agreement, this Agreement or any other
Loan Document and the administration of such credit, and in connection with or
arising out of the transactions contemplated hereunder and thereunder and any
actions or failures to act in connection therewith, including but not limited
to, the enforcement of Agent and Lenders’ rights and remedies under this
Agreement, and any other instruments or documents delivered in connection with
this Agreement and all Environmental Liabilities and legal costs and expenses
arising out of or incurred in connection with disputes between or among any
parties to this Agreement or any of the Loan Documents; provided, that no
such Credit Party shall be liable for any indemnification to an Indemnified
Party to the extent that any such suit, action, proceeding, claim, damage, loss,
liability or expense results from that  Indemnified Party’s gross
negligence or willful misconduct.  To the extent that the undertaking
to indemnify set forth in this paragraph may be unenforceable because it
violates any law or public policy, Borrower, on behalf of itself and the other
Credit Parties shall satisfy such undertaking to the maximum extent permitted by
law.  Any liability, obligation, loss, damage, penalty, cost or
expense covered by this indemnity shall be paid to each Indemnified Party upon
demand, and, failing prompt payment, shall, together with interest thereon at
the Default Rate from the date incurred by each Indemnified Party until paid, be
added to the Obligations of the Borrower and be secured by the Collateral,
within the meaning of the Agreement.  The provisions of this section
shall survive the satisfaction and payment of the other Obligations, the
termination of any additional funding by Lenders and the termination of this
Agreement.

     

    8.           Receipt and Application of
Payments.  Borrower acknowledges and agrees that Agent shall be
entitled during the term of this Agreement to accept such payments and proceeds
as are remitted pursuant to any provision of the Loan Documents or this
Agreement, that Agent shall be entitled to apply any and all such proceeds and
payments against the liabilities and obligations owed by Borrower and Guarantors
to Agent and Lenders in such order of application as Agent in its sole and
absolute discretion shall determine proper, and that the acceptance by Agent of
any such proceeds and payments as are remitted pursuant to the Loan Documents or
this Agreement or otherwise shall in no way affect or impair the status of the
Obligations owed to Agent and Lenders by the Borrower or Guarantors or be deemed
to be a waiver of any Event of Default or any acquiescence therein.

     

    

    
      
        
        

      

      
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    9.           Events of
Default.

     

    The
following shall constitute Events of Default under this Agreement:

     

    (a)           The
Borrower expends any funds in any manner inconsistent with the
Budget.

     

    (b)           The
Borrower or any other Credit Party violates any covenant, representation or
warranty under this Agreement.

     

    (c)           The
Borrower or any other Credit Party violates any covenant, representation or
warranty under the Credit Agreement or any other Loan Document.

     

    (d)           The
commencement by Second Lien Collateral Agent of a Standstill Period (as such
terms are defined in the Intercreditor Agreement).

     

    (e)           The
commencement by the Second Lien Agent or any Second Lien Claimholder (as such
term is defined in the Intercreditor Agreement) of any case, action, claim,
lawsuit, demand, investigation or other  proceeding against any of the
Credit Parties (including without limitation the commencement of an Insolvency
or Liquidation Proceeding (as such terms are defined in the Intercreditor
Agreement) against any of the Credit Parties), or the taking of any action by
the Second Lien Agent or any Second Lien Claimholder in a manner inconsistent
with, or in violation of, the Intercreditor Agreement.

     

    (f)           Any
Event of Default under the Credit Agreement other than an Existing Event of
Default shall occur.

     

    In the
event any such Event of Default under this Agreement exists, in Agent’s sole
discretion and upon written notice to the Borrower by Agent, Borrower’s right to
any funding under the Credit Agreement shall terminate
immediately.  The provisions of Section 7 of this
Agreement shall survive an Event of Default under this Agreement.

     

    10.           Effectiveness.  This
Agreement shall become effective as of April 27, 2009 (the “Effective Date”) only
upon Agent’s receipt of four (4) fully-executed copies of this Agreement, duly
executed and delivered by Agent, Requisite Lenders, Borrower and each other
Credit Party.

     

    11.           Miscellaneous.

     

    (a)           Retention of
Consultant.  The Borrower has previously retained and, unless
otherwise agreed to by Agent in its sole discretion, covenants and agrees to
continue to retain the services of RAS Management, Inc. (the “Consultant”) to (i)
market the Borrower’s assets, including all real and personal property, for sale
in a manner acceptable to Agent in its reasonable discretion, (ii) effectuate
the sale of the Borrower’s property in a manner reasonably acceptable to Agent
in its sole discretion, and (iii) provide Agent with information including,
without limitation, information concerning offers, proceeds of sales, and other
items concerning the Borrower’s assets as Agent shall request from time to
time.  Each of the Credit Parties irrevocably authorize, and shall
cause, the Consultant to (x) disclose to Agent and Lenders the nature or content
of any oral or written communication prepared by the Consultant or any
information gained from the inspection of any record or document of such Credit
Party by the Consultant and (y) communicate with Agent and Lenders concerning,
and disclose fully and promptly to Agent and the Lenders and their respective
representatives, all developments in connection with the efforts of the Credit
Parties and the Consultant described herein.

     

    
      
        
        

      

      
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    (b)           Entire Agreement;
Amendments.  This Agreement reflects the entire understanding
of the parties with respect to the subject matter herein contained and
supersedes any prior agreements, whether written or oral, in regard
thereto.  This Agreement may not be amended or modified and the
Forbearance Period extended unless agreed to in writing executed by all parties
signatory to this Agreement or as may otherwise be provided for under the terms
of the Credit Agreement and the other Loan Documents.  This Agreement
shall constitute a Loan Document for all purposes under the Credit
Agreement.

     

    (c)           Full Force and
Effect.  Except as expressly modified herein, all terms of the
Loan Documents, including the Credit Agreement and Guaranties, shall be and
shall remain in full force and effect and shall constitute the legal, valid,
binding and enforceable obligations of Borrower and Guarantors, as applicable,
to Agent and Lenders.

     

    (d)           No
Waiver.  This Agreement is not intended to operate as, and
shall not be construed as, a waiver of any Event of Default, including the
Existing Events of Default, whether known or unknown to Agent or Lenders, as to
which all rights of Agent and Lenders, including all rights of foreclosure,
shall remain reserved.

     

    (e)           GOVERNING
LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK
APPLICABLE TO CONTRACTS MADE AND PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS
OF THE UNITED STATES OF AMERICA.

     

    (f)           WAIVER OF RIGHT TO JURY
TRIAL.  THE PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN
ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING
IN CONTRACT, TORT OR OTHERWISE, AMONG AGENT, LENDERS AND ANY CREDIT PARTY
ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP
ESTABLISHED AMONG THEM IN CONNECTION WITH, THIS AGREEMENT.

     

    (g)           Counterparts.  This
Agreement may be executed in multiple counterparts, each of which shall be an
original and all of which, taken together, shall constitute but one and the same
agreement among the parties.

     

    (h)           Binding
Nature.  This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and
assigns.

     

    (i)           Captions.  The
captions to the Sections and paragraphs of the Agreement are for the convenience
of the parties only, and are not a part of this Agreement.

     

    (j)           Time of the
Essence.  Time is of the essence under this
Agreement.

     

    (k)           No Third-Party
Beneficiaries.  The parties agree that no such third-party
beneficiaries are intended under this Agreement, and, except as expressly set
forth herein, nothing in this Agreement shall create any rights for or in any
person or entity who is not a party to this Agreement.

     

    
      
        
        

      

      
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    (l)           Notice.  Any
notices required to be provided to Agent shall be served upon:

     

                 

      If to
Agent or GECC, at

      General
Electric Capital Corporation

      201
Merritt 7

      P.O. Box
5201

      Norwalk,
CT  06856-5201

      Attention:
James Kaufman

      Telephone
No.:  (203) 229-1832

      Telecopier
No.:  (203) 567-8200

       

      with
copies to:

       

      Paul,
Hastings, Janofsky & Walker LLP

      75 E.
55th St.

      New York,
NY 10022

      Attention:  Richard
Denhup

      Telephone
No.:  (212) 230-5161

      Telecopier
No.:  (212) 318-6366

      

      General
Electric Capital Corporation

      201
Merritt

      P.O. Box
5201

      Norwalk,
CT  06856-5201

      Attention:  Corporate
Counsel-Commercial Finance

      Telephone
No.:  (203) 956-4381

      Telecopier
No.:  (203) 956-4259

      

      Any
notices required to be provided to the Borrower shall be served
upon:

       

      Butler
Service Group, Inc.

      110
Summit Avenue

      Montvale,
NJ  07645

      Attention:
Ronald Uyematsu

      Telephone
No.:  310-591-8731

      Telecopier
No.:  201-573-9723

       

      with a
copy to:

       

      Moses
& Singer LLP

      The
Chrysler Building

      405
Lexington Avenue

      NY, NY
10174-1299

      Attention:  Jeffrey
M. Davis

      Telephone
No.: (212) 554-7837

      Telecopier
No.: (917) 206-4337

    

     

    IN
WITNESS WHEREOF, the parties have hereunto set their hands effective as of the
date first above written.

     

    [Signature Pages
Follow]

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    BUTLER SERVICE GROUP, INC., as
Borrower

     

    By: /s/
Gerald P. Simone

    Name:
Gerald P. Simone

    Title:
SVP Finance & Accounting

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    GENERAL ELECTRIC CAPITAL CORPORATION,
as Agent and Lender

     

    By: /s/
James H. Kaufman

     

    Name:
James H. Kaufman

    Title:   Duly
Authorized Signatory

     

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    

    The
following Persons are signatories to this Amendment in their capacity as Credit
Parties and not as Borrower.

     

    
      BUTLER
INTERNATIONAL, INC.

      BUTLER
SERVICES INTERNATIONAL, INC.

      BUTLER
TELECOM, INC.

      BUTLER
PUBLISHING, INC.

      BUTLER
OF NEW JERSEY REALTY CORP.

      BUTLER
SERVICES, INC.

      BUTLER
UTILITY SERVICE, INC.

      BUTLER
RESOURCES, LLC

       

      By: /s/
Gerald P. Simone

      Name:
Gerald P. Simone

      Title:
SVP Finance & Accounting

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    Exhibit
A

    

    Budget

     

     

    
      
        
        

      

      
        13REDEMPTION
AGREEMENT

       

      This
Redemption Agreement (the “Agreement”) is made effective
as of December 31, 2008, by and between Christopher D. Larson, an Arizona
resident (“Stockholder”), National Cash
& Credit, LLC, a Minnesota limited liability company (“NCC”),  and Western
Capital Resources, Inc., a Minnesota corporation (f/k/a URON Inc.) (the “Corporation”).

      

      INTRODUCTION

      

      Stockholder and the Corporation have
agreed to the assignment and redemption of certain of the Stockholder’s shares
of common stock of the Corporation (the “Redemption”).  Stockholder
currently serves as a director on the Corporation’s board of directors, and the
Corporation’s Chief Executive Officer, and Stockholder is therefore fully
familiar with the Corporation’s operations, results of operations and financial
condition through the date hereof.  To effectuate the Redemption and
certain related transactions described herein, the parties desire to enter into
this Agreement.

       

      AGREEMENT

      

      Now,
Therefore, in consideration of the foregoing facts, the mutual covenants
set forth herein and for other good and valuable consideration the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to
be legally bound, hereby agree as follows:

      

      1.           Redemption of
Shares.  The Corporation hereby redeems 1,291,290 shares of
common stock of the Corporation presently held in the name of Stockholder
(the “Redeemed
Shares”), and Stockholder hereby sells and assigns to the Corporation all
of Stockholder’s rights, title to and interest in the Redeemed Shares free and
clear of any and all liens, pledges, security interests, transfer restrictions
or encumbrances of any kind.  In furtherance of the Redemption,
Stockholder is executing and delivering to the Corporation, concurrently with
this Agreement, a stock power with respect to the Redeemed Shares in the form
attached hereto as Exhibit A
(the “Redeemed Shares
Assignment”).

      

      2.           Redemption
Consideration.  As full payment for the Redeemed Shares, the
Corporation hereby assigns to Stockholder, and Stockholder hereby accepts, all
of the Corporation’s rights, title to and interest in and to (a) all of the
membership interest in NCC, and (b) all of its capital stock of WCR Acquisition,
Co. a Minnesota corporation, each free and clear of any and all liens, pledges,
security interests, transfer restrictions or encumbrances of any
kind.  In furtherance thereof, the Corporation is executing and
delivering to Stockholder, concurrently with this Agreement, an assignment
(relating to the membership interest in National Cash & Credit, LLC) and
stock power (relating to the capital stock of WCR Acquisition Co.) in the forms
attached hereto as Exhibits B and C, respectively
(collectively, the “Redemption
Consideration Assignments”).

      

      3.           STEN Acquisition Promissory
Notes.

      

      (a)           On
or before January 23, 2009 the Corporation shall pay to NCC all amounts due and
owing under that certain promissory note of the Corporation delivered to and in
favor of STEN Corporation (“STEN”) in the principal amount
of $100,000 and identified in that certain Asset Purchase Agreement by and among
the Corporation, WCR Acquisition Co., STEN Credit Corporation, a Utah
corporation, and STEN, dated effective as of July 31, 2008 (the “STEN Purchase Agreement”), as
“Purchase Note A.”

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      (b)           On
the date of this Agreement the Corporation shall pay to NCC six (6) months of
interest with respect to “Purchase Note B” and “Purchase Note C,” together in
the aggregate amount of $4,687.50, delivered by the Corporation to STEN in
connection with the STEN Purchase Agreement.

       

      (c)           On
the date of this Agreement, the Corporation shall pay to Larson Larson’s current
unreimbursed expenses in an amount equal to $5,322.35.

       

      (d)           NCC
agrees that it will use the funds paid to it by the Corporation pursuant to
subsections (a) and (b) of this Section 3 to make payment of the corresponding
amounts due under Purchase Note A, Purchase Note B and Purchase Note C as and
when due.

       

      (e)           The
Corporation hereby transfers, conveys, assigns and delivers to NCC all of the
Corporation’s rights in, title to and interest under (i) the STEN Purchase
Agreement, (ii) those promissory notes of the Corporation delivered in
connection with the STEN Purchase Agreement and identified in the STEN Purchase
Agreement as “Purchase Note A.” “Purchase Note B,” “Purchase Note C” and
“Purchase Note D” (collectively referred to herein as the “Assigned Notes”), and
(iii)  the Alpha Omega title loan software used in the STEN and NCC
stores located in Utah and Arizona (the “Title Loan
Software”).  Furthermore, the Corporation hereby delegates to
NCC all of the Corporation’s obligations under the STEN Purchase Agreement, the
Assigned Notes and the Title Software.

      

      (f)           NCC
hereby accepts the transfer, conveyance, assignment and delivery of all of the
Corporation’s rights in, title to and interest under the STEN Purchase
Agreement, the Assigned Notes and the Title Software; and hereby unconditionally
and irrevocably assumes all of Assignor’s obligations under the STEN Purchase
Agreement, the Assigned Notes and the Title Software.  On or prior to
January 5, 2009, NCC will provide evidence acceptable to the Corporation that
STEN has printed or stamped a legend on the faces of the Assigned Notes clearly
indicating that the Corporation has legally delegated to NCC, and NCC has
legally assumed, all obligations under the Assigned Notes and that the
Corporation has been fully released under the Assigned Notes.

      

      4.           Banco Popular Personal
Guaranty.  The Corporation will use its best efforts to cause
that certain guaranty delivered by Stockholder to Banco Popular North America
under that certain Commercial Guaranty in connection with that certain Business
Loan Agreement (and related Promissory Note), by and between Wyoming Financial
Lenders, Inc. and Banco Popular North America, dated on or about October 29,
2008 (the “Guaranty”), to be reduced to a maximum personal guarantee by
Stockholder in the amount of $1,000,000 as soon as reasonably possible following
the date hereof.  The Corporation covenants and agrees that it will
take all actions necessary to have Stockholder released from all liabilities and
obligations in connection with the Guaranty no later than December 31,
2010.

      

      5.           License of Payday Software
and Support.  Effective as of the date hereof and continuing
for a period of eighteen (18) months, the Corporation hereby grants to NCC a
non-transferable, royalty-free license to use the Corporation’s “Payday”
software.  Under such license, NCC shall have the right to use the
Payday software and associated technical support, without payment of any
royalties or fees, on terms and conditions consistent with NCC’s existing scope
of use of the Payday software and support services as of the date
hereof.

      

      6.           Resignations.  Effective
as of the date hereof, Stockholder hereby resigns his positions on the board of
directors of the Corporation and as the Corporation’s President and Chief
Executive Officer, and any other officer position which Stockholder may hold or
be deemed to hold under the Minnesota Business Corporation Act.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      7.           Representations and
Warranties of Stockholder.  Stockholder hereby represents and
warrants to the Corporation as set forth in the paragraphs below:

      

      (a)           Stockholder
is the record and beneficial owner of the Redeemed Shares free and clear of any
and all liens and encumbrances and, upon assignment of the Redeemed Shares
pursuant hereto, the Corporation will receive good and marketable title to such
securities free and clear of all liens and encumbrances, except those required
under federal and state securities laws;

      

      (b)           neither
the execution nor delivery of this Agreement or the Redeemed Shares Assignment,
nor the transactions contemplated or effected hereby and thereby, will
constitute a violation or default under any term or provision of any contract,
commitment, indenture or other agreement or restriction of any kind or character
to which Stockholder is bound.  Stockholder has full legal power and
authority to assign and transfer the Redeemed Shares without obtaining the
consent or approval of any other person, entity or governmental
authority;

      

      (c)           Stockholder
has delivered its certificate and other instruments representing the Redeemed
Shares, duly endorsed in blank for transfer on the Corporation’s books (or an
affidavit of loss), and an executed Redeemed Shares Assignment;

      

      (d)           in
connection with the sale of the Redeemed Shares to the Corporation, Stockholder
further represents and warrants to the Corporation that
Stockholder:  (i) has had the opportunity to review all relevant
information about the Corporation, including without limitation shareholder
records, minute books, financial statements, and any other information which it
desired to review in conjunction with this Agreement; (ii) is experienced and
knowledgeable in financial and business matters, and (iii) is capable of
evaluating the merits and risks of transferring the Redeemed Shares as
contemplated hereunder, including without limitation any and all business,
securities, tax and other risks; and

      

      (e)           Stockholder
has obtained and provided to the Corporation a written consent from STEN to the
assignment and delegation of the Corporation’s rights and duties for all
purposes under the STEN Purchase Agreement and the Assigned Notes, which consent
includes a representation from STEN (for the benefit of the Corporation) that
STEN has not assigned or hypothecated any of its rights under the Assigned Notes
and holds all rights to and under the Assigned Notes.

      

      8.           Representations and
Warranties of the Corporation.  The Corporation hereby
represents and warrants to the Stockholder as set forth in the paragraphs
below:

      

      (a)           neither
the execution nor delivery of this Agreement or the Redemption Consideration
Assignments, nor the transactions contemplated or effected hereby and thereby,
will constitute a violation or default under any term or provision of any
contract, commitment, indenture or other agreement or restriction of any kind or
character to which the Corporation is bound;

      

      (b)           this
Agreement has been duly executed by an authorized representative of the
Corporation and, assuming the valid execution and delivery of the same by the
other parties thereto, the same are valid and binding agreements of the
Corporation, enforceable against the Corporation in accordance with their
respective terms, except as may be limited by customary enforceability
exceptions; and

      

      (c)           WCR
Acquisition Co. holds all of the assets of STEN (and its subsidiary) that were
purchased by the Corporation pursuant to the STEN Purchase
Agreement.  Furthermore, the membership interest in NCC and the
capital stock of WCR Acquisition Co. being assigned to Stockholder hereunder and
pursuant to the Redemption Consideration Assignments represent all of the
ownership interests in NCC and WCR Acquisition Co. outstanding and issued in the
name of the Corporation.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      9.           Indemnification.  The
Stockholder and NCC agree to indemnify and hold the Corporation harmless from
and against any and all loss, damage or liability (including but not limited to
reasonable legal fees and costs) that the Corporation may incur or suffer by
reason of, or which results, arises out of or is based upon any breach of the
Stockholders’ (or NCC’s) representations, warranties, agreements or covenants
contained in this Agreement or the Assignment.  Similarly, the
Corporation agrees to indemnify and hold the Stockholder and NCC harmless from
and against any and all loss, damage or liability that the Stockholder or NCC
may incur or suffer by reason of, or which results, arises out of or is based
upon any breach of the Corporation’s representations, warranties, agreements or
covenants contained in this Agreement.

      

      10.           Mutual
Release.

      

      (a)           Effective
as of 5:00 p.m. Minnesota time on March 31, 2009 (the “Release Time”), the
Corporation hereby forever discharges Larson and NCC, as well as NCC’s
principals, agents, attorneys, assigns, successors, parents, subsidiaries,
affiliates, officers, directors and employees, from all claims, causes of
action, damages, attorneys' fees, costs, disbursements and interest, and any
liabilities, known or unknown, liquidated or unliquidated, asserted or
unasserted, fixed or contingent, direct or indirect, that may exist regarding or
relating to claims that were asserted or could have been asserted by the
Corporation or any of its affiliates through the effective date of this
Agreement regarding or in connection with the business relationship between the
Corporation, NCC and Larson (collectively, “Claims,” and such release, the
“Corporation Release”); provided, however,
that the Corporation Release shall not apply with respect to any Claims with
respect to which the Corporation has provided written notice to Larson prior to
the Release Time.  Such notice to Larson shall be delivered to F-9/PMB
523, 8912 East Pinnacle Peak Road, Scottsdale, AZ 85255 and must set forth, with
specificity, the nature, basis and extent of such Claim that is not being
released.

       

      (b)           Effective
as of the Release Time, Larson and NCC, each hereby forever discharges the
Corporation, as well as the Corporation’s principals, agents, attorneys,
assigns, successors, parents, subsidiaries, affiliates, officers, directors and
employees, from all Claims that may exist regarding or relating to Claims that
were asserted or could have been asserted by Larson or NCC or any of their
affiliates through the effective date of this Agreement regarding or in
connection with the business relationship between the Corporation, NCC and
Larson (the “Larson
Release”); provided, however,
that the Larson Release shall not apply with respect to any Claims with respect
to which Larson or NCC has provided written notice to the Corporation prior to
the Release Time.  Such notice to the Corporation shall be delivered
to c/o Paul D. Chestovich, Maslon Edelman Borman & Brand, LLP, 3300 Wells
Fargo Center, 90 South Seventh Street, Minneapolis, MN 55402 and must set forth,
with specificity, the nature, basis and extent of such Claim that is not being
released.

       

      (c)           Each
of the Corporation, NCC and Larson agree to execute and deliver all documents
reasonably requested by the other side to further memorialize and implement the
mutual releases contemplated in this Section 10.

       

      (d)           For
purposes of this Section 10, notices shall be deemed to have been properly given
if hand delivered, sent by personal courier service, faxed or mailed by
registered, certified or express mail (postage prepaid), with mailed notices
being deemed given three days after deposit in the U.S. Mail and all other
notices being deemed given when actually given (subject, however, to
transmission confirmation in the case of a notice delivered by facsimile
).  A party’s address for notice may be changed from time to time by
such party by notice given as provided herein.

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      11.           General
Provisions.

       

      (a)           This
Agreement sets forth the parties’ final and entire agreement with respect to its
subject matter and supersedes any and all prior understandings and
agreements.  This Agreement shall be governed by and construed in
accordance with the laws of the State of Minnesota (without regard to
conflicts-of-law principles thereof) applicable to contracts made and to be
performed within such state.  If any provision of this Agreement shall
be held by any court of competent jurisdiction to be illegal, invalid or
unenforceable, such provision shall be construed and enforced as if it had been
more narrowly drawn so as not to be illegal, invalid or unenforceable, and such
illegality, invalidity or unenforceability shall have no effect upon and shall
not impair the enforceability of any other provision of this
Agreement.

      

      (b)           This
Agreement may be modified or amended only by an instrument in writing signed by
the parties hereto.  No delay or failure on the part of any party to
exercise any right, power or privilege hereunder shall operate as a waiver
thereof; nor shall any waiver on the part of any party of any right, power or
privilege hereunder operate as a waiver of any other right, power or privilege
hereunder.  This Agreement shall be binding upon and inure to the
benefit of the parties and their respective successors and assigns; provided, however, this
Agreement may not be assigned without the prior express written consent of the
other party.  For the convenience of the parties and to facilitate the
execution of this Agreement, this Agreement may be executed in counterparts and
each such executed counterpart shall be deemed an original
instrument.  Furthermore, the parties may execute and deliver this
Agreement by facsimile or electronically transmitted signatures and the parties
agree that the reproduction of signatures by way of facsimile or a computer
device will be treated, in all respects including validity, as though such
reproductions were executed originals.  Each party to this Agreement
will, on or any time after the date hereof, execute and deliver to the other
such further documents or instruments and take such further actions as may
reasonably be requested by the other party to this Agreement to effect the
purposes hereof.

      

      12.           Dispute
Resolution.  Any dispute among the parties hereto shall be
resolved in accordance with the arbitration provisions of this
Section:

      

      (a)           To
the greatest extent possible, the parties will endeavor to resolve any disputes
relating to this Agreement through amicable negotiations.  Failing an
amicable settlement, any controversy, claim or dispute arising under or relating
to this Agreement, including the existence, validity, interpretation,
performance, termination or breach of this Agreement, will finally be settled by
binding arbitration before a single arbitrator (the “Arbitration Tribunal”) which
will be jointly appointed by the parties.  The Arbitration Tribunal
shall self-administer the arbitration proceedings utilizing the Commercial Rules
of the American Arbitration Association; provided, however, the
American Arbitration Association shall not be involved in administration of the
arbitration.  The arbitrator must be a retired judge of a state or
federal court of the United States or a licensed lawyer with at least ten years
of corporate or commercial law experience and have at least an AV rating by
Martindale Hubbell.  If the parties cannot agree on an arbitrator,
either the Buyer or a Stockholder may request the American Arbitration
Association to appoint an arbitrator which appointment will be
final.

      

      (b)           The
arbitration will be held in Omaha, Nebraska.  Each party will have
discovery rights as provided by the Federal Rules of Civil Procedure within the
limits imposed by the arbitrator; provided, however, that all
such discovery will be commenced and concluded within 60 days of the selection
of the arbitrator.  It is the intent of the parties that any
arbitration will be concluded as quickly as reasonably
practicable.  Once commenced, the hearing on the disputed matters will
be held four days a week until concluded, with each hearing date to begin at
9:00 a.m. and to conclude at 5:00 p.m.  The arbitrator will use all
reasonable efforts to issue the final written report containing award or awards
within a period of five business days after closure of the
proceedings.  Failure of the arbitrator to meet the time limits of
this Section will not be a basis for challenging the award.  The
Arbitration Tribunal will not have the authority to award punitive damages to
either party.  Each party will bear its own expenses, but the parties
will share equally the expenses of the Arbitration Tribunal.  The
Arbitration Tribunal shall award attorneys’ fees and other related costs payable
by the losing party to the successful party as it deems
equitable.  This Agreement will be enforceable, and any arbitration
award will be final and non-appealable, and judgment thereon may be entered in
any court of competent jurisdiction.

       

      [Signature Page
Follows]

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      
        In
Witness Whereof, the parties have executed this Redemption Agreement to
be effective as of December 31, 2008.

      

      

      
        
          
            
              	
                      CORPORATION:

                    	 	
                      NCC:

                    
	 
      	 
      	 	 
      
	
                      Western
      Capital Resources, Inc.

                    	 	
                      National
      Cash & Credit, LLC

                    
	 
      	 
      	 	 
      	 
      
	
                      By:

                    	
                      /s/ John Quandahl

                    	 	
                      By:

                    	
                      /s/ Christopher Larson

                    
	 
      	
                      John
      Quandahl

                    	 	 
      	
                      Christopher
      D. Larson

                    
	 
      	
                      Chief
      Financial Officer

                    	 	 
      	
                      Member-Manager

                    
	 
      	 
      	 	 
      	 
      
	 
      	 
      	 	
                      STOCKHOLDER:

                    
	 
      	 
      	 	 
      	 
      
	 
      	 
      	 	
                      /s/ Christopher Larson

                    
	 
      	 
      	 	
                      Christopher
      D. Larson

                    

            

          

        

      

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      Exhibit
A

      

      STOCK
POWER

       

      
        The
Undersigned, Christopher D. Larson, pursuant to that certain Redemption
Agreement by and among Christopher D. Larson, National Cash & Credit, LLC
and Western Capital Resources, Inc., does hereby assign, transfer and convey
unto Western Capital Resources, Inc., a Minnesota corporation (f/k/a “URON
Inc.”) (the “Corporation”), effective as of
December 31, 2008, a total of 1,291,290 shares of common stock of the
Corporation (collectively, the “Redeemed Shares”) legally and
beneficially owned by the undersigned and standing in the name of the
undersigned on the books of said Corporation, represented by Stock Certificate
No.(s). 818-5 and 852-4 and does hereby irrevocably constitute and appoint
______________________________________________________________ as his true and
lawful attorney-in-fact, with full power of substitution and re-substitution in
the premises, to transfer the Redeemed Shares on the books of the
Corporation.

      

      

      Dated:
_____________

      
        
          
            	 
      
	
                    Christopher
      D. Larson

                  

          

        

      

      

      [MEDALLION
GUARANTEE]

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Exhibit
B

      

      ASSIGNMENT

      

      
        The
Undersigned, on behalf of Western Capital Resources, Inc., pursuant to
that certain Redemption Agreement by and among Christopher D. Larson, National
Cash & Credit, LLC and Western Capital Resources, Inc., does hereby assign,
transfer and convey unto Christopher D. Larson the entire membership interest of
Western Capital Resources, Inc. in National Cash & Credit, LLC, a Minnesota
limited liability company (the “Company”), including all
financial rights and governance rights associated therewith, legally and
beneficially owned by Western Capital Resources, Inc. and standing in the name
of Western Capital Resources, Inc. on the books and records of the Company
(collectively, the “Interest”). No part of the
Interest is represented by any certificate.

      

      

      Dated:
_____________

       

      
        
          
            	
                    Western
      Capital Resources, Inc.

                  
	 
      	 
      
	
                    By:

                  	 
      
	 
      	
                    John
      Quandahl

                  
	 
      	
                    Chief
      Financial Officer

                  

          

        

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Exhibit
C

      

      STOCK
POWER

       

      
        The
Undersigned, on behalf of Western Capital Resources, Inc., pursuant to
that certain Redemption Agreement by and among Christopher D. Larson, National
Cash & Credit, LLC and Western Capital Resources, Inc., does hereby assign,
transfer and convey unto Christopher D. Larson, effective as of December 31,
2008, a total of 1,000 shares of common stock of WCR Acquisition Co., a
Minnesota corporation (collectively, the “WCR Shares”) legally and
beneficially owned by the undersigned and standing in the name of the
undersigned on the books of WCR Acquisition Co., represented by Stock
Certificate No. 1 and does hereby irrevocably constitute and appoint
___________________________________ as its true and lawful attorney-in-fact,
with full power of substitution and re-substitution in the premises, to transfer
the WCR Shares on the books of WCR Acquisition Co.

      

      

      Dated:
_____________

       

      
        
          
            	
                    Western
      Capital Resources, Inc.

                  
	 
      
	
                    By:

                  	 
      
	 
      	
                    John
      Quandahl

                  
	 
      	
                    Chief
      Financial Officer

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