SEC Contract Filing

Filing Date: 2022-09-30

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex10-2.htm
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
10.2</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>AMENDMENT
NO. 24 TO </U></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>CREDIT
AND SECURITY AGREEMENT </U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>THIS
AMENDMENT NO. 24 TO CREDIT AND SECURITY AGREEMENT </B>(this &ldquo;<B>Amendment</B>&rdquo;) is effectively dated as of the 29<SUP>th
</SUP>day of September, 2022, by and among <B>MONROE STAFFING SERVICES, LLC</B>, a Delaware limited liability company, <B>FARO RECRUITMENT
AMERICA, INC.</B>, a New York corporation, <B>LIGHTHOUSE PLACEMENT SERVICES, INC.</B>, a Massachusetts corporation, <B>STAFFING 360 GEORGIA,
LLC</B>, a Georgia limited liability company, and <B>KEY RESOURCES, INC.</B>, a North Carolina corporation (each of the foregoing Persons
and each Subsidiary joining the Credit Agreement as hereinafter defined as a Borrower, individually, each a &ldquo;<B>Borrower</B>&rdquo;
and collectively, &ldquo;<B>Borrowers</B>&rdquo;), <B>STAFFING 360 SOLUTIONS, INC</B>., a Delaware corporation (as &ldquo;<B>Parent</B>&rdquo;),
and <B>MIDCAP FUNDING IV TRUST, </B>a Delaware statutory trust, as successor-by-assignment to MidCap Funding X Trust (as Agent for Lenders,
&ldquo;<B>Agent</B>&rdquo;, and individually, as a Lender), and the other financial institutions or other entities from time to time
parties to the Credit Agreement referenced below, each as a Lender.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>RECITALS</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>A.
</B>Borrowers, Agent and Lenders are party to that certain Credit and Security Agreement dated as of April 8, 2015 (as amended by that
certain Amendment No. 1 and Joinder Agreement to Credit and Security Agreement dated as of July 13, 2015, by that certain Amendment No.
2 to Credit and Security Agreement dated as of August 31, 2015, by that certain Overadvance Letter dated October 9, 2015, by that certain
Overadvance Letter dated as of November 20, 2015, by that certain Overadvance Letter dated as of February 8, 2016, by that certain Amendment
No. 3 to Credit and Security Agreement and Limited Waiver dated as of February 8, 2016, by that certain Amendment No. 4 and Joinder Agreement
to Credit and Security Agreement dated as of July 11, 2016, by that certain Amendment No. 5 to Credit and Security Agreement dated as
of September 26, 2016, by that certain Amendment No. 6 to Credit and Security Agreement and Limited Consent dated as of January 26, 2017,
by that certain Amendment No. 7 to Credit and Security Agreement and Limited Consent dated as of June 5, 2017, by that certain Amendment
No. 8 and Joinder Agreement to Credit and Security Agreement and Limited Consent dated as of September 15, 2017, by that certain Amendment
No. 9 to Credit and Security Agreement and Limited Consent dated as of June 6, 2018, by that certain Amendment No. 10 and Joinder Agreement
to Credit and Security Agreement and Limited Consent dated as of August 27, 2018, by that certain Overadvance Letter dated as of January
3, 2019, by that certain Amendment No. 11 to Credit and Security Agreement dated as of February 7, 2019, by that certain Overadvance
Letter dated as of April 1, 2019, by that certain Amendment No. 12 to Credit and Security Agreement dated as of April 1, 2019, by that
certain Overadvance Letter dated as of July 15, 2019, by that certain Amendment No. 13 to Credit and Security Agreement dated as of August
2, 2019, by that certain Amendment No. 14 dated as of August 8, 2020, by that certain Amendment No. 15 dated as of September 7, 2020,
by that certain Amendment No. 16 dated as of October 7, 2020, by that certain Amendment No. 18 to Credit and Security Agreement dated
as of February 8, 2021, by that certain Amendment No. 19 to Credit and Security Agreement dated as of December 23, 2021, by that certain
Amendment No. 20 to Credit and Security Agreement and Limited Consent dated as of April 18, 2022, by that certain Amendment No. 21 to
Credit and Security Agreement dated as of August 30, 2022, by that certain Amendment No. 22 to Credit and Security Agreement dated as
of September 15, 2022, by that certain Amendment No. 23 to Credit and Securi