0000944480-09-000020 Sample Contracts

FIRST AMENDMENT TO SECURITY AGREEMENT (Domestic Revolving Line of Credit)
Security Agreement • May 11th, 2009 • Gse Systems Inc • Services-prepackaged software • Maryland

This First Amendment to Security Agreement (this “Amendment”), dated as of May 5, 2009 is between Bank of America, N.A. (the “Bank”) and GSE Systems, Inc., a Delaware corporation (“GSE”), and GSE Power Systems, Inc., a Delaware corporation (“Power”), (GSE and Power are referred to collectively as, the “Pledgor”).

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FIRST AMENDMENT TO LOAN AGREEMENT
Loan Agreement • May 11th, 2009 • Gse Systems Inc • Services-prepackaged software • Maryland

This First Amendment to Loan Agreement (this “Amendment”) dated as of May 5, 2009 is between Bank of America, N.A. (the “Bank”) and GSE Systems, Inc., a Delaware corporation (“GSE”), and GSE Power Systems, Inc., a Delaware corporation (“Power”), as co-borrowers (GSE and Power are referred to collectively as, the “Borrower”).

FIRST AMENDMENT TO LOAN AGREEMENT
Loan Agreement • May 11th, 2009 • Gse Systems Inc • Services-prepackaged software • Maryland

This First Amendment to Loan Agreement (this “Amendment”) dated as of May 5, 2009 is between Bank of America, N.A. (the “Bank”) and GSE Systems, Inc., a Delaware corporation (“GSE”), and GSE Power Systems, Inc., a Delaware corporation (“Power”), as co-borrowers (GSE and Power are referred to collectively as, the “Borrower”).

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