Guarantors' Ratification of Continuing Unlimited and Collateralized Guaranty with Fleet

Summary

This agreement involves multiple TeamStaff-related companies reaffirming their obligations under existing unlimited and collateralized guaranties related to a loan and security agreement, as amended, with Fleet. Each company acknowledges that they have read the First Amendment to the Loan and Security Agreement and confirm that their guaranties continue to secure the loan, even as it may be further amended or modified. The ratification is signed by company officers and dated March 31, 2003.

EX-10.6 8 y86617exv10w6.txt AMENDED GUARANTOR'S RATIFICATION WITH FLEET EXHIBIT 10.6 GUARANTORS' RATIFICATION Each undersigned Guarantor hereby reaffirms his continuing obligations under the terms of his respective Continuing Unlimited and Collateralized Guaranty dated April 9, 2002 (each a "Guaranty"), and each acknowledges that (i) he has read the First Amendment to Loan and Security Agreement, (ii) the Loan under the Loan and Security Agreement, as has been, is being, and may further be amended, restated, extended and/or modified from time to time, is secured by his respective Guaranty, and (iii) he makes such reaffirmation with full knowledge of the terms thereof. ATTEST: TEAMSTAFF SOLUTIONS, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, PRESIDENT AND CHIEF EXECUTIVE OFFICER ADDRESS: 245 FIFTH AVENUE NEW YORK, NY ATTEST: DSI STAFF CONNXIONS NORTHEAST, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 300 ATRIUM DRIVE SOMERSET, NJ 08873 ATTEST: DSI STAFF CONNXIONS SOUTHWEST, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 2 NORTHPOINT DRIVE HOUSTON, TX ATTEST: TEAMSTAFF RX, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL ATTEST: TEAMSTAFF I, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL -1- ATTEST: TEAMSTAFF II, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL ATTEST: TEAMSTAFF III, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL ATTEST: TEAMSTAFF IV, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL ATTEST: TEAMSTAFF V, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL ATTEST: TEAMSTAFF VI, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL ATTEST: TEAMSTAFF VIII, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL -2- ATTEST: TEAMSTAFF IX, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL ATTEST: TEAMSTAFF INSURANCE SERVICES, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL ATTEST: EMPLOYER SUPPORT SERVICES, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 1901 ULMERTON ROAD CLEARWATER, FL ATTEST: HR2, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 800 WEST CUMMINGS PARK WOBURN, MA 01801 ATTEST: BRIGHTLANE.COM, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 3650 MANSELL ROAD ALPHARETTA, GA 30022 ATTEST: DIGITAL INSURANCE SERVICES, INC. _________________________________ BY:____________________________________ GERARD A. ROMANO, CONTROLLER DONALD W. KAPPAUF, CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADDRESS: 300 ATRIUM DRIVE SOMERSET, NJ 08873 Dated: March 31, 2003 -3-