Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.7

GUARANTY BY CORPORATION

Denver, Colorado

April 29, 2008

This Guaranty, dated as of April 29, 2008, is made by GLOBAL EMPLOYMENT HOLDINGS, INC., a
Delaware corporation (the “Guarantor”), for the benefit of WELLS FARGO BANK, NATIONAL ASSOCIATION
(with its participants, successors and assigns, the “Lender”), acting through its Wells Fargo
Business Credit operating division.

The Lender, Global Employment Solutions, Inc., a Colorado corporation (“Global”), Excell
Personnel Services Corporation, an Illinois corporation (“Excell”), Friendly Advanced Software
Technology, Inc., a New York corporation (“Friendly”), Temporary Placement Service, Inc., f/k/a
Michaels & Associates, Inc. and successor by merger to Temporary Placement Service, Inc., a Georgia
corporation (“TPS”), Southeastern Staffing, Inc., a Florida corporation (“Southeastern”),
Southeastern Personnel Management, Inc., a Florida corporation (“SPM”), Main Line Personnel
Services, Inc., a Pennsylvania corporation (“Main Line”), Bay HR, Inc., a Florida corporation
(“BHR”), Southeastern Georgia HR, Inc., a Georgia corporation (“SGHR”), Southeastern Staffing II,
Inc., a Florida corporation (“SEII”), Southeastern Staffing III, Inc., a Florida corporation
(“SEIII”), Southeastern Staffing IV, Inc., a Florida corporation (“SEIV”), Southeastern Staffing V,
Inc., a Florida corporation (“SEV”), Southeastern Staffing VI, Inc., a Florida corporation
(“SEVI”), and Keystone Alliance, Inc., a Florida corporation (“Keystone”) (Global, Excell,
Friendly, TPS, Southeastern, SPM, Main Line, BHR, SGHR, SEII, SEIII, SEIV, SEV, SEVI, and Keystone
are each referred to herein as a “Borrower” and collectively as the “Borrowers”), are parties to a
Credit and Security Agreement of even date herewith (as the same may be amended, supplemented or
restated from time to time, the “Credit Agreement”) pursuant to which the Lender may make advances
and extend other financial accommodations to the Borrowers.

As a condition to extending such credit to the Borrowers, the Lender has required the
execution and delivery of this Guaranty.

ACCORDINGLY, the Guarantor, in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, hereby agrees as
follows:

1. Definitions. All terms defined in the Credit Agreement that are not otherwise
defined herein shall have the meanings given them in the Credit Agreement.

2. Indebtedness Guaranteed. The Guarantor hereby absolutely and unconditionally
guarantees to the Lender the full and prompt payment when due, whether at maturity or earlier by
reason of acceleration or otherwise, of the Indebtedness.

 

 

 

3. Guarantor’s Representations and Warranties. The Guarantor represents and warrants to
the Lender that (i) the Guarantor is a corporation, duly organized and existing in good standing
and has full power and authority to make and deliver this Guaranty; (ii) the execution, delivery
and performance of this Guaranty by the Guarantor have been duly authorized by all necessary action
of its directors and shareholders and do not and will not violate the provisions of, or constitute
a default under, any presently applicable law or its Constituent Documents or any agreement
presently binding on it; (iii) this Guaranty has been duly executed and delivered by the authorized
Officers of the Guarantor and constitutes its lawful, binding and legally enforceable obligation;
and (iv) the authorization, execution, delivery and performance of this Guaranty do not require
notification to, registration with, or consent or approval by, any federal, state or local
regulatory body or administrative agency. The Guarantor represents and warrants to the Lender that
the Guarantor has a direct and substantial economic interest in each Borrower and expects to derive
substantial benefits therefrom and from any loans, credit transactions, financial accommodations,
discounts, purchases of property and other transactions and events resulting in the creation of the
Indebtedness guarantied hereby, and that this Guaranty is given for a corporate purpose. The
Guarantor agrees to rely exclusively on the right to revoke this Guaranty prospectively as to
future transactions, in accordance with paragraph 4, if at any time, in the opinion of the
directors or officers, the benefits then being received by the Guarantor in connection with this
Guaranty are not sufficient to warrant the continuance of this Guaranty as to the future
Indebtedness of each Borrower. Accordingly, so long as this Guaranty is not revoked prospectively
in accordance with paragraph 4, the Lender may rely conclusively on a continuing warranty, hereby
made, that the Guarantor continues to be benefited by this Guaranty and the Lender shall have no
duty to inquire into or confirm the receipt of any such benefits, and this Guaranty shall be
effective and enforceable by the Lender without regard to the receipt, nature or value of any such
benefits.

4. Unconditional Nature. No act or thing need occur to establish the Guarantor’s
liability hereunder, and no act or thing, except full payment and discharge of all of the
Indebtedness, shall in any way exonerate the Guarantor hereunder or modify, reduce, limit or
release the Guarantor’s liability hereunder. This is an absolute, unconditional and continuing
guaranty of payment of the Indebtedness and shall continue to be in force and be binding upon the
Guarantor, whether or not all of the Indebtedness is paid in full, until this Guaranty is revoked
prospectively as to future transactions, by written notice actually received by the Lender, and
such revocation shall not be effective as to the amount of Indebtedness existing or committed for
at the time of actual receipt of such notice by the Lender, or as to any renewals, extensions,
refinancings or refundings thereof.

5. Dissolution or Insolvency of Guarantor. The dissolution or adjudication of
bankruptcy of the Guarantor shall not revoke this Guaranty, except upon actual receipt of written
notice thereof by the Lender and only prospectively, as to future transactions, as herein set
forth. If the Guarantor shall be dissolved or shall be or become insolvent (however defined), then
the Lender shall have the right to declare immediately due and payable, and the Guarantor will
forthwith pay to the Lender, the full amount of all of the Indebtedness whether due and payable or
unmatured. If the Guarantor voluntarily commences or there is commenced involuntarily against the
Guarantor a case under the United States Bankruptcy Code, the full amount of all Indebtedness,
whether due and payable or unmatured, shall be immediately due and payable without demand or notice
thereof.

 

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6. Subrogation. The Guarantor will not exercise or enforce any right of contribution,
reimbursement, recourse or subrogation available to the Guarantor as to any of the Indebtedness, or
against any Person liable therefor, or as to any collateral security therefor, unless and until all
of the Indebtedness shall have been fully paid and discharged.

7. Enforcement Expenses. The Guarantor will pay or reimburse the Lender for all
costs, expenses and attorneys’ fees paid or incurred by the Lender in endeavoring to collect and
enforce the Indebtedness and in enforcing this Guaranty.

8. Lender’s Rights. The Lender shall not be obligated by reason of its acceptance of
this Guaranty to engage in any transactions with or for any Borrower. Whether or not any existing
relationship between the Guarantor and any Borrower has been changed or ended and whether or not
this Guaranty has been revoked, the Lender may enter into transactions resulting in the creation or
continuance of the Indebtedness and may otherwise agree, consent to or suffer the creation or
continuance of any of the Indebtedness, without any consent or approval by the Guarantor and
without any prior or subsequent notice to the Guarantor. The Guarantor’s liability shall not be
affected or impaired by any of the following acts or things (which the Lender is expressly
authorized to do, omit or suffer from time to time, both before and after revocation of this
Guaranty, without consent or approval by or notice to the Guarantor): (i) any acceptance of
collateral security, guarantors, accommodation parties or sureties for any or all of the
Indebtedness; (ii) one or more extensions or renewals of the Indebtedness (whether or not for
longer than the original period) or any modification of the interest rates, maturities, if any, or
other contractual terms applicable to any of the Indebtedness or any amendment or modification of
any of the terms or provisions of any loan agreement or other agreement under which the
Indebtedness or any part thereof arose; (iii) any waiver or indulgence granted to any Borrower, any
delay or lack of diligence in the enforcement of the Indebtedness or any failure to institute
proceedings, file a claim, give any required notices or otherwise protect any of the Indebtedness;
(iv) any full or partial release of, compromise or settlement with, or agreement not to sue, any
Borrower or any guarantor or other Person liable in respect of any of the Indebtedness; (v) any
release, surrender, cancellation or other discharge of any evidence of the Indebtedness or the
acceptance of any instrument in renewal or substitution therefor; (vi) any failure to obtain
collateral security (including rights of setoff) for the Indebtedness, or to see to the proper or
sufficient creation and perfection thereof, or to establish the priority thereof, or to preserve,
protect, insure, care for, exercise or enforce any collateral security; or any modification,
alteration, substitution, exchange, surrender, cancellation, termination, release or other change,
impairment, limitation, loss or discharge of any collateral security; (vii) any collection, sale,
lease or disposition of, or any other foreclosure or enforcement of or realization on, any
collateral security; (viii) any assignment, pledge or other transfer of any of the Indebtedness or
any evidence thereof; (ix) any manner, order or method of application of any payments or credits
upon the Indebtedness; and (x) any election by the Lender under Section 1111(b) of the United
States Bankruptcy Code. The Guarantor waives any and all defenses and discharges available to a
surety, guarantor or accommodation co-obligor.

 

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9. Waivers by Guarantor. The Guarantor waives any and all defenses, claims, setoffs and
discharges of any Borrower, or any other obligor, pertaining to the Indebtedness, except the
defense of discharge by payment in full. Without limiting the generality of the foregoing, the
Guarantor will not assert, plead or enforce against the Lender any defense of waiver, release,
discharge or disallowance in bankruptcy, statute of limitations, res judicata, statute of frauds,
anti-deficiency statute, fraud, incapacity, minority, usury, illegality or unenforceability which
may be available to any Borrower or any other Person liable in respect of any of the Indebtedness,
or any setoff available against the Lender to any Borrower or any other such Person, whether or not
on account of a related transaction. The Guarantor expressly agrees that the Guarantor shall be
and remain liable for any deficiency remaining after foreclosure of any mortgage or security
interest securing the Indebtedness, whether or not the liability of any Borrower or any other
obligor for such deficiency is discharged pursuant to statute or judicial decision. The liability
of the Guarantor shall not be affected or impaired by any voluntary or involuntary liquidation,
dissolution, sale or other disposition of all or substantially all of the assets, marshalling of
assets and liabilities, receivership, insolvency, bankruptcy, assignment for the benefit of
creditors, reorganization, arrangement, composition or readjustment of, or other similar event or
proceeding affecting, any Borrower or any assets of any Borrower. The Guarantor will not assert,
plead or enforce against the Lender any claim, defense or setoff available to the Guarantor against
any Borrower. The Guarantor waives presentment, demand for payment, notice of dishonor or
nonpayment and protest of any instrument evidencing the Indebtedness. The Lender shall not be
required first to resort for payment of the Indebtedness to any Borrower or other Persons, or their
properties, or first to enforce, realize upon or exhaust any collateral security for the
Indebtedness, before enforcing this Guaranty.

10. If Payments Set Aside, etc. If any payment applied by the Lender to the
Indebtedness is thereafter set aside, recovered, rescinded or required to be returned for any
reason (including, without limitation, the bankruptcy, insolvency or reorganization of any Borrower
or any other obligor), the Indebtedness to which such payment was applied shall for the purpose of
this Guaranty be deemed to have continued in existence, notwithstanding such application, and this
Guaranty shall be enforceable as to such Indebtedness as fully as if such application had never
been made.

11. Additional Obligation of Guarantor. The Guarantor’s liability under this Guaranty
is in addition to and shall be cumulative with all other liabilities of the Guarantor to the Lender
as guarantor, surety, endorser, accommodation co-obligor or otherwise of any of the Indebtedness or
obligation of any Borrower, without any limitation as to amount, unless the instrument or agreement
evidencing or creating such other liability specifically provides to the contrary.

12. Financial Information. The Guarantor will deliver to the Lender all financial
information concerning the Guarantor required to be delivered under the Credit Agreement.

 

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13. No Duties Owed by Lender. The Guarantor acknowledges and agrees that the Lender
(i) has not made any representations or warranties with respect to, (ii) does not assume any
responsibility to the Guarantor for, and (iii) has no duty to provide information to the Guarantor
regarding, the enforceability of any of the Indebtedness or the financial condition of any Borrower
or any guarantor. The Guarantor has independently determined the creditworthiness of each Borrower
and the enforceability of the Indebtedness and until the Indebtedness is paid in full will
independently and without reliance on the Lender continue to make such determinations.

14. Miscellaneous. This Guaranty shall be effective upon delivery to the Lender,
without further act, condition or acceptance by the Lender, shall be binding upon the Guarantor and
the successors and assigns of the Guarantor and shall inure to the benefit of the Lender and its
participants, successors and assigns. Any invalidity or unenforceability of any provision or
application of this Guaranty shall not affect other lawful provisions and application thereof, and
to this end the provisions of this Guaranty are declared to be severable. This Guaranty may not be
waived, modified, amended, terminated, released or otherwise changed except by a writing signed by
the Guarantor and the Lender. This Guaranty shall be governed by and construed in accordance with
the substantive laws (other than conflict laws) of the State of Colorado. The Guarantor hereby
(i) consents to the personal jurisdiction of the state and federal courts located in the State of
Colorado in connection with any controversy related to this Guaranty; (ii) waives any argument that
venue in any such forum is not convenient, (iii) agrees that any litigation initiated by the Lender
or the Guarantor in connection with this Guaranty may be venued in either the state or federal
courts located in the City and County of Denver, Colorado; and (iv) agrees that a final judgment in
any such suit, action or proceeding shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by law.

15. Waiver of Jury Trial. THE GUARANTOR HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO TRIAL
BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF, BASED ON OR PERTAINING TO THIS
GUARANTY.

[The remainder of this page intentionally left blank.]

 

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IN WITNESS WHEREOF, this Guaranty has been duly executed by the Guarantor the date first
written above.

	 	 	 	 	 
	 	GLOBAL EMPLOYMENT HOLDINGS, INC.
 	 
	 	By:  	/s/ Daniel T. Hollenbach	 
	 	 	Name:  	Daniel T. Hollenbach 	 
	 	 	Its:  Chief Financial Officer 	 
	 

	 	 	 	 	 
	Address:
	 	10375 Park Meadows Dr., Suite 375
	 
	 	Lone Tree, Colorado 80124
	 
	 	 	 	 
	STATE OF COLORADO
	 	)	 	 
	 
	 	) ss	 	 
	CITY AND COUNTY OF DENVER
	 	)	 	 

The foregoing instrument was acknowledged before me this 29th day of April, 2008,
by Daniel T. Hollenbach, the Chief Financial Officer of Global Employment Holdings, Inc., a
Delaware corporation, on behalf of the corporation.

	 	 	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 
	 	Notary PublicFiled by Bowne Pure Compliance

 

Exhibit 10.8

SECURITY AGREEMENT

This Agreement, dated as of April 29, 2008, is made by and between GLOBAL EMPLOYMENT HOLDINGS,
INC., a Delaware corporation (the “Debtor”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (the
“Secured Party”), acting through its Wells Fargo Business Credit operating division.

Pursuant to a Credit and Security Agreement dated as of April 29, 2008 (as the same may be
amended, supplemented or restated from time to time, the “Credit Agreement”), the Secured Party may
extend credit accommodations to GLOBAL EMPLOYMENT SOLUTIONS, INC., a Colorado corporation
(“Global”), EXCELL PERSONNEL SERVICES CORPORATION, an Illinois corporation (“Excell”), FRIENDLY
ADVANCED SOFTWARE TECHNOLOGY, INC., a New York corporation (“Friendly”), TEMPORARY PLACEMENT
SERVICE, INC., f/k/a Michaels & Associates, Inc. and successor by merger to Temporary Placement
Service, Inc., a Georgia corporation (“TPS”), SOUTHEASTERN STAFFING, INC., a Florida corporation
(“Southeastern”), SOUTHEASTERN PERSONNEL MANAGEMENT, INC., a Florida corporation (“SPM”), MAIN LINE
PERSONNEL SERVICES, INC., a Pennsylvania corporation (“Main Line”), BAY HR, INC., a Florida
corporation (“BHR”), SOUTHEASTERN GEORGIA HR, INC., a Georgia corporation (“SGHR”), SOUTHEASTERN
STAFFING II, INC., a Florida corporation (“SEII”), SOUTHEASTERN STAFFING III, INC., a Florida
corporation (“SEIII”), SOUTHEASTERN STAFFING IV, INC., a Florida corporation (“SEIV”), SOUTHEASTERN
STAFFING V, INC., a Florida corporation (“SEV”), SOUTHEASTERN STAFFING VI, INC., a Florida
corporation (“SEVI”), and KEYSTONE ALLIANCE, INC., a Florida corporation (“Keystone”) (Global,
Excell, Friendly, TPS, Southeastern, SPM, Main Line, BHR, SGHR, SEII, SEIII, SEIV, SEV, SEVI, and
Keystone are each referred to herein as a “Borrower” and collectively as the “Borrowers”).

As a condition to extending credit to the Borrowers, the Secured Party has required the
execution and delivery of the Debtor’s Guaranty of even date herewith, guaranteeing the payment and
performance of all obligations of each Borrower arising under or pursuant to the Credit Agreement
(the “Guaranty”).

As a further condition to extending credit to each Borrower under the Credit Agreement, the
Secured Party has required the execution and delivery of this Agreement by the Debtor.

ACCORDINGLY, in consideration of the mutual covenants contained in the Credit Agreement, the
Guaranty and herein, the parties hereby agree as follows:

1. Definitions. All terms defined in the recitals hereto and the Credit Agreement that are
not otherwise defined herein shall have the meanings given them in the recitals and the Credit
Agreement. All terms defined in the UCC and not otherwise defined herein have the meanings
assigned to them in the UCC. In addition, the following terms have the meanings set forth below or
in the referenced Section of this Agreement:

“Accounts” means all of the Debtor’s accounts, as such term is defined in the UCC.

 

 

 

“Collateral” means, whether now owned or existing or hereafter acquired or arising or in which
the Debtor now has or hereafter acquires any rights, all of the Debtor’s Accounts, chattel paper,
deposit accounts, documents, Equipment, General Intangibles, goods, instruments, Inventory,
Investment Property, letter-of-credit rights, letters of credit, all sums on deposit in any
Collateral Account, and any items in any Lockbox; together with (i) all substitutions and
replacements for and products of any of the foregoing; (ii) in the case of all goods, all
accessions; (iii) all accessories, attachments, parts, equipment and repairs now or hereafter
attached or affixed to or used in connection with any goods; (iv) all warehouse receipts, bills of
lading and other documents of title now or hereafter covering such goods; (v) all collateral
subject to the Lien of Secured Party; (vi) any money, or other assets of the Debtor that now or
hereafter come into the possession, custody, or control of the Secured Party; and (vii) proceeds of
any and all of the foregoing.

“Contingent Obligation” means, as to any Person, any direct or indirect liability, contingent
or otherwise, of that Person with respect to any indebtedness, lease, dividend or other obligation
of another Person if the primary purpose or intent of the Person incurring such liability, or the
primary effect thereof, is to provide assurance to the obligee of such liability that such
liability will be paid or discharged, or that any agreements relating thereto will be complied
with, or that the holders of such liability will be protected (in whole or in part) against loss
with respect thereto.

“Equipment” means all of the Debtor’s equipment, as such term is defined in the UCC.

“Event of Default” has the meaning given in Section 6.

“General Intangibles” means all of the Debtor’s general intangibles, as such term is defined
in the UCC.

“Indebtedness” of any Person means, without duplication (A) all indebtedness for borrowed
money, (B) all obligations issued, undertaken or assumed as the deferred purchase price of property
or services including, without limitation, “capital leases” in accordance with U.S. GAAP (other
than trade payables entered into in the ordinary course of business), (C) all reimbursement or
payment obligations with respect to letters of credit, surety bonds and other similar instruments,
(D) all obligations evidenced by notes, bonds, debentures or similar instruments, including
obligations so evidenced incurred in connection with the acquisition of property, assets or
businesses, (E) all indebtedness created or arising under any conditional sale or other title
retention agreement, or incurred as financing, in either case with respect to any property or
assets acquired with the proceeds of such indebtedness (even though the rights and remedies of the
seller or bank under such agreement in the event of default are limited to repossession or sale of
such property), (F) all monetary obligations under any leasing or similar arrangement which, in
connection with U.S. GAAP, consistently applied for the periods covered thereby, is classified as a
capital lease, (G) all indebtedness referred to in clauses (A) through (F) above secured by (or for
which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured
by) any mortgage, lien, pledge, charge, security interest or other encumbrance upon or in any
property or assets (including accounts and contract rights) owned by any Person, even though the
Person which owns such assets or property has not assumed or become liable for the payment of such
indebtedness, and (H) all Contingent Obligations in respect of indebtedness or obligations of
others of the kinds referred to in clauses (A) through (G) above.

 

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“Insolvent” means (i) the present fair saleable value of the Debtor’s assets is less than the
amount required to pay the Debtor’s total Indebtedness, (ii) the Debtor is unable to pay its debts
and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become
absolute and matured, (iii) the Debtor intends to incur or believes that it will incur debts that
would be beyond its ability to pay as such debts mature or (iv) the Debtor has unreasonably small
capital with which to conduct the business in which it is engaged as such business is now conducted
and is proposed to be conducted.

“Intellectual Property Rights” means all actual or prospective rights arising in connection
with any intellectual property or other proprietary rights, including all rights arising in
connection with copyrights, patents, service marks, trade dress, trade secrets, trademarks, trade
names or mask works.

“Inventory” means all of the Debtor’s inventory, as such term is defined in the UCC.

“Investment Property” means all of the Debtor’s investment property, as such term is defined
in the UCC.

“Lien” means any security interest, mortgage, deed of trust, pledge, lien, charge,
encumbrance, title retention agreement or analogous instrument or device, including the interest of
each lessor under any capitalized lease and the interest of any bondsman under any payment or
performance bond, in, of or on any assets or properties of a Person, whether now owned or hereafter
acquired and whether arising by agreement or operation of law.

“Material Adverse Effect” means any material adverse effect on the business, properties,
assets, operations, results of operations, condition (financial or otherwise) or prospects of the
Debtor and its Subsidiaries, taken as a whole, or on the transactions contemplated by the Guaranty
or the Credit Agreement or by the agreements and instruments to be entered into in connection
therewith, or on the authority or ability of the Debtor to perform its obligations under the
Guaranty or the Credit Agreement.

“Obligations” means each and every debt, liability and obligation of every type and
description which the Debtor may now or at any time hereafter owe to the Secured Party, whether
such debt, liability or obligation now exists or is hereafter created or incurred and whether it is
or may be direct or indirect, due or to become due, or absolute or contingent, including without
limitation all obligations under the Guaranty.

“Permitted Liens” means (i) the Security Interest, (ii) covenants, restrictions, rights,
easements and minor irregularities in title which do not materially interfere with the Debtor’s
business or operations as presently conducted, (iii) Liens in existence on the date hereof and
described on Exhibit C hereto, or (iv) Liens securing repayment of the Secured Subordinated Debt.

“Registration Rights Agreements” means the Registration Rights Agreement, dated as of March
31, 2006, by and among the Debtor and the purchasers of the Secured Subordinated Debt, the
Registration Rights Agreement, dated as of March 31, 2006, by and among the Debtor and the
purchasers of the Debtor’s Series A Preferred Stock and the Registration Rights Agreement, dated as
of March 31, 2006, by and among the Debtor and the purchasers of the Debtor’s common stock.

 

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“Security Interest” has the meaning given in Section 2.

“UCC” means the Uniform Commercial Code as in effect from time to time in the State of
Colorado.

2. Security Interest. The Debtor hereby grants the Secured Party a security interest (the
“Security Interest”) in the Collateral to secure payment of the Obligations. The Debtor hereby
represents and warrants to the Secured Party that neither the Debtor nor any of its Directors,
Officers or agents has authorized the filing of any financing statement naming the Debtor as debtor
and having any other party, other than the Secured Party or Whitebox Convertible Arbitrage
Partners, LP, for itself and in its capacity as collateral agent for the Subordinated Creditors, or
any replacement or successor collateral agent, as secured party.

3. Representations, Warranties and Agreements. The Debtor hereby represents, warrants and
agrees as follows:

(a) Title. The Debtor (i) has absolute title to each item of Collateral in existence on the
date hereof, free and clear of all Liens except the Permitted Liens, (ii) will have, at the time
the Debtor acquires any rights in Collateral hereafter arising, absolute title to each such item of
Collateral free and clear of all Liens except Permitted Liens, (iii) will keep all Collateral free
and clear of all Liens except Permitted Liens, and (iv) will defend the Collateral against all
claims or demands of all Persons other than the Secured Party and the holders of Permitted Liens.
The Debtor will not sell or otherwise dispose of the Collateral or any interest therein, outside
the ordinary course of business, without the prior written consent of the Secured Party.

(b) Chief Executive Office; Identification Number. The Debtor’s chief executive office and
principal place of business is located at the address set forth under its signature below. The
Debtor’s federal employer identification number and organization identification number is correctly
set forth under its signature below.

(c) Location of Collateral. As of the date hereof, the tangible Collateral is located only in
the states and at the address, as identified on Exhibit A attached hereto. The Debtor will not
permit any tangible Collateral to be located in any state (and, if county filing is required, in
any county) in which a financing statement covering such Collateral is required to be, but has not
in fact been, filed in order to perfect the Security Interest.

(d) Changes in Name, Constituent Documents, Location. The Debtor will not change its name,
Constituent Documents, or jurisdiction of organization without the prior written consent of the
Secured Party. The Debtor will not change its business address, without prior written notice to
the Secured Party.

(e) Fixtures. The Debtor will not permit any tangible Collateral to become part of or to be
affixed to any real property without first assuring to the reasonable satisfaction of the Secured
Party that the Security Interest will be prior and senior to any Lien then held or thereafter
acquired by any mortgagee of such real property or the owner or purchaser of any interest therein.
If any part or all of the tangible Collateral is now or will become so related to particular real
estate as to be a fixture, the real estate concerned and the name of the record owner are
accurately set forth in Exhibit B hereto.

 

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(f) Rights to Payment. Each right to payment and each instrument, document, chattel paper and
other agreement constituting or evidencing Collateral is (or will be when arising, issued or
assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no
defense, setoff or counterclaim (other than those arising in the ordinary course of business), of
the account debtor or other obligor named therein or in the Debtor’s records pertaining thereto as
being obligated to pay such obligation. The Debtor will neither agree to any material modification
or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will
not subordinate any such right to payment to claims of other creditors of such account debtor or
other obligor.

(g) Commercial Tort Claims. Promptly upon knowledge thereof, the Debtor will deliver to the
Secured Party notice of any commercial tort claims it may bring against any Person, including the
name and address of each defendant, a summary of the facts, an estimate of the Debtor’s damages,
copies of any complaint or demand letter submitted by the Debtor, and such other information as the
Secured Party may request. Upon request by the Secured Party, the Debtor will grant the Secured
Party a security interest in all commercial tort claims it may have against any Person.

(h) SEC Filings. As of their respective dates, all reports, schedules, forms, statements and
other documents that the Debtor is required to file with the Securities and Exchange Commission
comply in all material respects with the requirements of the Securities Act of 1933 or the
Securities and Exchange Act of 1934, as the case may be, applicable to such documents and none of
such documents contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading.

(i) Investment Company Act. The Debtor is not, nor are any of its subsidiaries, required to
register under the provisions of the Investment Company Act of 1940, as amended. Neither the
entering into or performance by the Debtor of this Agreement, nor the execution, delivery and
performance of the obligations by the Debtor under the Guaranty, this Agreement or any other
agreement between the Debtor and the Secured Party or by the Debtor in favor of the Secured Party,
violates any provision of the Investment Company Act of 1940, as amended or requires any consent,
approval, or authorization of, or registration with, the Securities and Exchange Commission or any
other governmental or public body of authority.

(j) Financial Statements. The financial statements of the Debtor have been prepared in
accordance with GAAP, during the periods involved (except (i) as may be otherwise indicated in such
financial statements or the notes thereto, or (ii) in the case of unaudited interim statements, to
the extent they may exclude footnotes or may be condensed or summary statements) and fairly present
in all material respects the financial position of the Debtor as of the dates thereof and the
results of its operations and cash flows for the periods then ended (subject, in the case of
unaudited statements, to normal year-end audit adjustments).

(k) Absence of Certain Changes. Except as disclosed in Exhibit D, since March 31, 2008, there
has been no change or development in the business, properties, operations, condition (financial or
otherwise), results of operations or prospects of the Debtor that has had or could reasonably be
expected to have a Material Adverse Effect. Except as set forth on Exhibit D, since March 31,
2008, the Debtor has not (i) declared or paid any dividends, (ii) sold any assets, individually or
in the aggregate, in excess of $100,000 outside of the ordinary course of business,
(iii) had capital expenditures, individually or in the aggregate, in excess of $500,000 or
(iv) waived any material rights with respect to any indebtedness or other rights in excess of
$100,000 owed to it. The Debtor has not taken any steps to seek protection pursuant to any
bankruptcy law nor does the Debtor have any knowledge or reason to believe that its creditors
intend to initiate involuntary bankruptcy proceedings or any actual knowledge of any fact which
would reasonably lead a creditor to do so. The Debtor is not as of the date hereof Insolvent.

 

-5-

 

(l) Indebtedness and Other Contracts. Except as disclosed in Exhibit D, other than the
Guaranty, the notes evidencing the Secured Subordinated Debt, the obligations of the Debtor under
any lease of real or personal property as lessee which is required under GAAP to be capitalized on
its balance sheet and indebtedness relating to Permitted Liens, neither the Debtor nor any of its
Subsidiaries (i) has any outstanding Indebtedness, (ii) is a party to any contract, agreement or
instrument, the violation of which, or default under which, by the other party(ies) to such
contract, agreement or instrument would result in a Material Adverse Effect, (iii) is in violation
of any term of or in default under any contract, agreement or instrument relating to any
Indebtedness, except where such violations and defaults would not result, individually or in the
aggregate, in a Material Adverse Effect, or (iv) is a party to any contract, agreement or
instrument relating to any Indebtedness, the performance of which, in the judgment of the Debtor’s
Officers, has or is expected to have a Material Adverse Effect.

(m) Miscellaneous Covenants. The Debtor will:

(i) keep all tangible Collateral in good repair, working order and condition, normal
depreciation excepted, and will, from time to time, replace any worn, broken or defective
parts thereof;

(ii) comply with (A) all laws applicable to the Debtor and to the operation of its
business (including, without limitation, any statute, rule or regulation relating to
employment practices and employee benefits and to environmental, occupational and health
standards and controls) and (B) all applicable laws, ordinances, rules, regulations, and
requirements of governmental authorities (including, without limitation, Environmental Laws,
securities laws and ERISA and the rules and regulations thereunder) except where failure to
comply would not have a material adverse effect on the Debtor;

(iii) file, on a timely basis, all reports, schedules, forms, statements and other
documents that are required to be filed with the Securities and Exchange Commission;

(iv) deliver to the Secured Party, promptly after the same are available, copies of
each annual report, proxy or financial statement or other report or communication sent to
the stockholders of the Debtor, and copies of all annual, regular, periodic and special
reports and registration statements which the Debtor may file or be required to file with
the Securities and Exchange Commission (or any governmental body or agency succeeding to the
functions of the Securities and Exchange Commission), including, but not limited to, Form
10-Q, Form 10-K, Form 8-K and any registration statements or amendments;

(v) deliver to the Secured Party on the same day as the release thereof, facsimile
copies of all press releases issued by the Debtor;

 

-6-

 

(vi) promptly pay all taxes and other governmental charges levied or assessed upon or
against any Collateral or upon or against the creation, perfection or continuance of the
Security Interest;

(vii) at all reasonable times, permit the Secured Party or its representatives to
examine or inspect any Collateral, wherever located, and to examine, inspect and copy the
Debtor’s books and records pertaining to the Collateral and its business and financial
condition and to send and discuss with account debtors and other obligors requests for
verifications of amounts owed to the Debtor;

(viii) keep accurate and complete records pertaining to the Collateral and pertaining
to the Debtor’s business and financial condition and submit to the Secured Party such
periodic reports concerning the Collateral and the Debtor’s business and financial condition
as the Secured Party may from time to time reasonably request;

(ix) promptly notify the Secured Party of any loss of or material damage to any
Collateral or of any adverse change, known to the Debtor, in the prospect of payment of any
sums due on or under any instrument, chattel paper, or account constituting Collateral;

(x) if the Secured Party at any time so requests (after the occurrence of an Event of
Default), promptly deliver to the Secured Party any instrument, document or chattel paper
constituting Collateral, duly endorsed or assigned by the Debtor;

(xi) at all times keep all tangible Collateral insured against risks of fire (including
so-called extended coverage), theft, collision (in case of Collateral consisting of motor
vehicles) and such other risks and in such amounts as the Secured Party may reasonably
request, with any such policies containing a lender loss payable endorsement acceptable to
the Secured Party;

(xii) from time to time authorize or execute such financing statements as the Secured
Party may reasonably require in order to perfect the Security Interest and, if any
Collateral consists of a motor vehicle, execute such documents as may be required to have
the Security Interest properly noted on a certificate of title;

(xiii) pay when due or reimburse the Secured Party on demand for all costs of
collection of any of the Obligations and all other out-of-pocket expenses (including in each
case all reasonable attorneys’ fees) incurred by the Secured Party in connection with the
creation, perfection, satisfaction, protection, defense or enforcement of the Security
Interest or the creation, continuance, protection, defense or enforcement of this Agreement
or any or all of the Obligations, including expenses incurred in any litigation or
bankruptcy or insolvency proceedings;

(xiv) authorize, execute, deliver or endorse any and all instruments, documents,
assignments, security agreements and other agreements and writings which the Secured Party
may at any time reasonably request in order to secure, protect, perfect or enforce the
Security Interest and the Secured Party’s rights under this Agreement;

 

-7-

 

(xv) not, without the prior written consent of the Secured Party, declare or pay any
dividends (other than dividends payable solely in stock of Debtor) on any class of its
stock or make any payment on account of the purchase, redemption or other retirement of
any shares of such stock or other securities issued by the Debtor or any indebtedness or
liability of the Debtor evidenced by or related to notes, bonds, debentures or similar
obligations, including the agreements, instruments and documents evidencing the Secured
Subordinated Debt, or make any distribution in respect thereof, either directly or
indirectly; provided, however, that so long as no Event of Default (as
defined in the Credit Agreement) has occurred and is continuing or will occur as a result of
or immediately following any such payment, the Debtor may pay (a) each scheduled payment
(but not prepayment) of interest under the Secured Subordinated Debt in an amount equal to
such scheduled payment and (b) up to $1,300,000 in the aggregate in fees and penalties (but
in no event for the payment of any amounts related to redemption) due and payable to the
holders of the Secured Subordinated Debt, the holders of the Debtor’s Series A Preferred
Stock and the holders of the Debtor’s common stock pursuant to the Registration Rights
Agreements, the Debtor’s Senior Secured Convertible Notes, each dated as of March 31, 2006,
payable to the order of the holders of the Secured Subordinated Debt, in the original
aggregate principal amount of $30,000,000 and the Note Securities Purchase Agreement by and
among Global and the holders of the Secured Subordinated Debt, so long as Global has
delivered to the Secured Party prior written notice at least five Business Days prior to the
date on which such payment is due that such fees or penalties will be due and payable; and

(xvi) not use or keep any Collateral, or permit it to be used or kept, for any unlawful
purpose or in violation of any federal, state or local law, statute or ordinance.

(n) Secured Party’s Right to Take Action. The Debtor authorizes the Secured Party to file
from time to time where permitted by law, such financing statements against collateral described as
“all personal property” as the Secured Party deems necessary or useful to perfect the Security
Interest. The Debtor will not amend any financing statements in favor of the Secured Party except
as permitted by law. Further, if the Debtor at any time fails to perform or observe any agreement
contained in Section 3(m), and if such failure continues for a period of ten (10) days after the
Secured Party gives the Debtor written notice thereof (or, in the case of the agreements contained
in clauses (vi) and (xi) of Section 3(m), immediately upon the occurrence of such failure, without
notice or lapse of time), the Secured Party may (but need not) perform or observe such agreement on
behalf and in the name, place and stead of the Debtor (or, at the Secured Party’s option, in the
Secured Party’s own name) and may (but need not) take any and all other actions which the Secured
Party may reasonably deem necessary to cure or correct such failure (including, without limitation
the payment of taxes, the satisfaction of security interests, liens, or encumbrances, the
performance of obligations under contracts or agreements with account debtors or other obligors,
the procurement and maintenance of insurance, the execution of financing statements, the
endorsement of instruments, the qualification and licensing of the Debtor to do business in any
jurisdiction, and the procurement of repairs or transportation); and, except to the extent that the
effect of such payment would be to render any loan or forbearance of money usurious or otherwise
illegal under any applicable law, the Debtor shall thereupon pay the Secured Party on demand the
amount of all moneys expended and all costs and expenses (including reasonable attorneys’ fees)
incurred by the Secured Party in connection with or as a result of the Secured Party’s performing
or observing such agreements or taking such actions, together with interest thereon from the date
expended or incurred by the Secured Party at the highest rate then applicable to any of the
Obligations. To facilitate the performance or observance by the Secured Party of such agreements
of the Debtor, the Debtor hereby
irrevocably appoints (which appointment is coupled with an interest) the Secured Party, or its
delegate, as the attorney-in-fact of the Debtor with the right (but not the duty) from time to time
to create, prepare, complete, execute, deliver, endorse or file, in the name and on behalf of the
Debtor, any and all instruments, documents, financing statements, applications for insurance and
other agreements and writings required to be obtained, executed, delivered or endorsed by the
Debtor under this Section 3 and Section 4.

 

-8-

 

4. Rights of Secured Party. At any time and from time to time, whether before or after an
Event of Default, the Secured Party may take any or all of the following actions:

(a) Account Verification. The Secured Party may at any time and from time to time send or
require the Debtor to send requests for verification of accounts or notices of assignment to
account debtors and other obligors. The Secured Party may also at any time and from time to time
telephone account debtors and other obligors to verify accounts.

(b) Collateral Account. The Secured Party may establish a collateral account for the deposit
of checks, drafts and cash payments made by the Debtor’s account debtors. If a collateral account
is so established, the Debtor shall promptly deliver to the Secured Party, for deposit into said
collateral account, all payments on Accounts and chattel paper received by it. All such payments
shall be delivered to the Secured Party in the form received (except for the Debtor’s endorsement
where necessary). Until so deposited, all payments on Accounts and chattel paper received by the
Debtor shall be held in trust by the Debtor for and as the property of the Secured Party and shall
not be commingled with any funds or property of the Debtor. All deposits in said collateral
account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation.
Unless otherwise agreed in writing, the Debtor shall have no right to withdraw amounts on deposit
in any collateral account.

(c) Lockbox. The Secured Party may, by notice to the Debtor, require the Debtor to direct
each of its account debtors to make payment directly to a special lockbox to be under the control
of the Secured Party. The Debtor hereby authorizes and directs the Secured Party to deposit all
checks, drafts and cash payments received in said lockbox into the collateral account established
as set forth above.

(d) Direct Collection. After an Event of Default, the Secured Party may notify any account
debtor, or any other Person obligated to pay any amount due, that such chattel paper, Account, or
other right to payment has been assigned or transferred to the Secured Party for security and shall
be paid directly to the Secured Party. At any time after the Secured Party or the Debtor gives
such notice to an account debtor or other obligor, the Secured Party may (but need not), in its own
name or in the Debtor’s name, demand, sue for, collect or receive any money or property at any time
payable or receivable on account of, or securing, any such chattel paper, Account, or other right
to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to
waive, modify, amend or change the obligations (including collateral obligations) of any such
account debtor or other obligor.

5. Assignment of Insurance. The Debtor hereby assigns to the Secured Party, as additional
security for the payment of the Obligations, any and all moneys (including but not limited to
proceeds of insurance and refunds of unearned premiums) due or to become due under, and all other
rights of the Debtor under or with respect to, any and all policies of insurance covering the
Collateral, and the Debtor hereby directs the issuer of any such policy to pay any such moneys
directly to the Secured Party. After the occurrence of an Event of Default, the Secured Party may
(but need not), in its own name or in the Debtor’s name, execute and deliver proofs of claim,
receive all such moneys, endorse checks and other instruments representing payment of such moneys,
and adjust, litigate, compromise or release any claim against the issuer of any such policy.

 

-9-

 

6. Events of Default. Each of the following occurrences shall constitute an event of
default under this Agreement (herein called “Event of Default”): (i) an Event of Default shall
occur under the Credit Agreement; or (ii) the Debtor shall fail to pay any or all of the
Obligations when due or (if payable on demand) on demand; (iii) the Debtor shall fail to observe or
perform any covenant or agreement binding on it herein, in the Guaranty or in any other agreement
between the Debtor and the Secured Party or by the Debtor in favor of the Secured Party; or (iv)
Debtor shall take or participate in any action which would be prohibited under the provisions of
any Subordination Agreement or make any payment on the Subordinated Indebtedness (as such term or
any similar term is defined in any Subordination Agreement) that any Person was not entitled to
receive under the provisions of such Subordination Agreement.

7. Remedies upon Event of Default. Upon the occurrence of an Event of Default and at any
time thereafter, the Secured Party may exercise any one or more of the following rights and
remedies: (i) declare all unmatured Obligations to be immediately due and payable, and the same
shall thereupon be immediately due and payable, without presentment or other notice or demand;
(ii) exercise and enforce any or all rights and remedies available upon default to a secured party
under the UCC, including but not limited to the right to take possession of any Collateral,
proceeding without judicial process or by judicial process (without a prior hearing or notice
thereof, which the Debtor hereby expressly waives), and the right to sell, lease or otherwise
dispose of any or all of the Collateral, and in connection therewith, the Secured Party may require
the Debtor to make the Collateral available to the Secured Party at a place to be designated by the
Secured Party which is reasonably convenient to both parties, and if notice to the Debtor of any
intended disposition of Collateral or any other intended action is required by law in a particular
instance, such notice shall be deemed commercially reasonable if given (in the manner specified in
Section 9) at least ten (10) days prior to the date of intended disposition or other action;
(iii) exercise or enforce any or all other rights or remedies available to the Secured Party by law
or agreement against the Collateral, against the Debtor or against any other Person or property.
The Secured Party is hereby granted a nonexclusive, worldwide and royalty-free license to use or
otherwise exploit all Intellectual Property Rights owned by or licensed to the Debtor that the
Secured Party deems necessary or appropriate to the disposition of any Collateral.

8. Other Personal Property. Unless at the time the Secured Party takes possession of any
tangible Collateral, or within seven days thereafter, the Debtor gives written notice to the
Secured Party of the existence of any goods, papers or other property of the Debtor, not affixed to
or constituting a part of such Collateral, but which are located or found upon or within such
Collateral, describing such property, the Secured Party shall not be responsible or liable to the
Debtor for any action taken or omitted by or on behalf of the Secured Party with respect to such
property.

 

-10-

 

9. Notices; Requests for Accounting. All notices and other communications hereunder shall
be in writing and shall be (a) personally delivered, (b) sent by first class United States mail,
(c) sent by overnight courier of national reputation, or (d) transmitted by telecopy, in each case
addressed or telecopied to the party to whom notice is being given at its address or telecopier
number as set forth below its signature or, as to each party, at such other address or telecopier
number as may hereafter be designated by such party in a written notice to the other party
complying as to delivery with the terms of this Section. All such notices, requests, demands and
other communications shall be deemed to have been given on (i) the date received if personally
delivered, (ii) when deposited in the mail if delivered by mail, (iii) the date sent if sent by
overnight courier, or (iv) the date of transmission if delivered by telecopy. All requests under
Section 9-210 of the UCC (i) shall be made in a writing signed by an authorized Person, (ii) shall
be personally delivered, sent by registered or certified mail, return receipt requested, or by
overnight courier of national reputation (iii) shall be deemed to be sent when received by the
Secured Party and (iv) shall otherwise comply with the requirements of Section 9-210. The Debtor
requests that the Secured Party respond to all such requests which on their face appear to come
from an authorized individual and releases the Secured Party from any liability for so responding.
The Debtor shall pay Secured Party the maximum amount allowed by law for responding to such
requests.

10. Miscellaneous. This Agreement has been duly and validly authorized by all necessary
corporate action. This Agreement does not contemplate a sale of accounts, or chattel paper. This
Agreement can be waived, modified, amended, terminated or discharged, and the Security Interest can
be released, only explicitly in a writing signed by the Secured Party, and, in the case of
amendment or modification, in a writing signed by the Debtor. A waiver signed by the Secured Party
shall be effective only in the specific instance and for the specific purpose given. Mere delay or
failure to act shall not preclude the exercise or enforcement of any of the Secured Party’s rights
or remedies. All rights and remedies of the Secured Party shall be cumulative and may be exercised
singularly or concurrently, at the Secured Party’s option, and the exercise or enforcement of any
one such right or remedy shall neither be a condition to nor bar the exercise or enforcement of any
other. The Secured Party’s duty of care with respect to Collateral in its possession (as imposed
by law) shall be deemed fulfilled if the Secured Party exercises reasonable care in physically
safekeeping such Collateral or, in the case of Collateral in the custody or possession of a bailee
or other third person, exercises reasonable care in the selection of the bailee or other third
person, and the Secured Party need not otherwise preserve, protect, insure or care for any
Collateral. The Secured Party shall not be obligated to preserve any rights the Debtor may have
against prior parties, to realize on the Collateral at all or in any particular manner or order, or
to apply any cash proceeds of Collateral in any particular order of application. This Agreement
shall be binding upon and inure to the benefit of the Debtor and the Secured Party and their
respective successors and assigns and shall take effect when signed by the Debtor and delivered to
the Secured Party, and the Debtor waives notice of the Secured Party’s acceptance hereof. The
Secured Party may execute this Agreement if appropriate for the purpose of filing, but the failure
of the Secured Party to execute this Agreement shall not affect or impair the validity or
effectiveness of this Agreement. A carbon, photographic or other reproduction of this Agreement or
of any financing statement signed by the Debtor shall have the same force and effect as the
original for all purposes of a financing statement. This Agreement shall be governed by and
construed in accordance with the substantive laws (other than conflict laws) of the State of
Colorado. If any provision or application of this Agreement is held unlawful or unenforceable in
any respect, such illegality or unenforceability shall not affect other provisions or applications
which can be given effect and this Agreement shall be construed as if the unlawful or unenforceable
provision or application had never been contained herein or prescribed hereby. All representations
and warranties contained in this Agreement shall survive the execution, delivery and performance of
this Agreement and the creation and payment of the Obligations.

 

-11-

 

The parties hereto hereby (i) consent to the personal jurisdiction of the state and
federal courts located in the State of Colorado in connection with any controversy related to this
Agreement; (ii) waive any argument that venue in any such forum is not convenient; (iii) agree that
any litigation initiated by the Secured Party or the Debtor in connection with this Agreement or
the other Loan Documents may be venued in either the state or federal courts located in the City
and County of Denver, Colorado; and (iv) agree that a final judgment in any such suit, action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law.

11. THE PARTIES WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED ON OR PERTAINING
TO THIS AGREEMENT.

[The remainder of this page intentionally left blank.]

 

-12-

 

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

	 	 	 	 	 	 	 
	WELLS FARGO BANK, NATIONAL ASSOCIATION,	 	GLOBAL EMPLOYMENT HOLDINGS, INC.
	acting through its Wells Fargo Business Credit operating 

division	 	 
	 
	 	 	 	 	 	 
	By:
	 	/s/ Martin E. Tracy	 	By:	 	/s/ Daniel T. Hollenbach
	 
	 	 	 	 	 	 
	 
	 	Name: Martin E. Tracy	 	 	 	Name: Daniel T. Hollenbach
	 
	 	Its:       Vice President	 	 	 	Its:       Chief Financial Officer
	 
	 	 	 	 	 	 
	Address:	 	Address:
	 
	 	 	 	 	 	 
	Wells Fargo Business Credit	 	10375 Park Meadows Drive, Suite 375
	MAC-C7300-210	 	Lone Tree, Colorado 80124
	1740 Broadway	 	Telecopier: (303) 216-9533
	Denver, Colorado 80274	 	Attention: Chief Financial Officer
	Telecopier: (303) 863-4904	 	Employer identification number: 43-2069359
	Attention: Martin E. Tracy
	 	Organizational identification number: DE 3805232
	e-mail: martin.e.tracy@wellsfargo.com	 	 

 

-13-

 

EXHIBIT A

LOCATION OF COLLATERAL

10375 Park Meadows Drive, Suite 375

Lone Tree, Colorado 80124

 

A-1

 

EXHIBIT B

LEGAL DESCRIPTION

NONE/NO FIXTURES

 

B-1

 

EXHIBIT C

PERMITTED LIENS

NONE

 

C-1

 

EXHIBIT D

ABSENCE OF CERTAIN CHANGES; INDEBTEDNESS

NONE

 

D-1

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