Exhibit 10.7
SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT
THIS SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT entered into this 14th day of
May, 2003 by and among TEAMSTAFF, INC. (the "Borrower"), a corporation incorporated under the laws of
the State of New Jersey, having its principal office at 300 Atrium Drive, Somerset, New Jersey 08873,
TeamStaff Solutions, Inc, DSI Staff Connxions Northeast, Inc., DSI Staff Connxions Southwest, Inc., TeamStaff
Rx, Inc., TeamStaff I, Inc., TeamStaff II, Inc., TeamStaff III, Inc., TeamStaff IV, Inc., TeamStaff V, Inc.,
TeamStaff VI, Inc., TeamStaff VIII, Inc., TeamStaff IX, Inc., TeamStaff Insurance Services, Inc., Employer
Support Services, Inc., HR2, Inc., BrightLane.com, Inc., Digital Insurance Services, Inc. (collectively, the
"Guarantors") with respective addresses as shown on Schedule 5.13 hereof and FLEET NATIONAL BANK
(the "Bank"), a national bank association organized under the laws of the United States of America, having an
office at 750 Walnut Avenue, Cranford, New Jersey 07016.
W I T N E S S E T H:
WHEREAS, the Bank Guarantors and the Borrower have previously entered into a commercial lending
arrangement in accordance with the terms and conditions of a certain Loan and Security Agreement dated April
9, 2002 as amended by a First Amendment to Loan and Security Agreement dated March 21, 2003 (the
"Agreement");
WHEREAS, on April 9, 2002, the "Guarantors" each executed in favor of the Lender a certain Continuing
Unlimited and Collateralized Guaranty as ratified by a Guarantors Ratification dated March 21, 2003 (the
"Guaranty") pursuant to which the Guarantors each guaranteed the Loan of the Borrower to the Bank;
WHEREAS, the Lender and the Borrower seek to memorialize the modifications to the Agreement by this
writing.
NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein contained, and
other good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:
1. Section