AACH, Inc. C/O Hill, Ward & Henderson 3700 Bank of America Plaza 101 East Kennedy Blvd. Tampa, FL 33601 Re: $15,500,000 Senior Secured Credit Facilities Ladies and Gentlemen:Senior Secured Credit Facilities • April 16th, 2007 • Burton Donald W • Services-help supply services
Manufacturers and Traders Trust Company (the “Bank”), a New York banking corporation, is pleased to offer AACH, Inc. a Delaware corporation (the “Parent Corporation”) the following financing: (a) a senior secured term loan in the principal amount of Eight Million Seven Hundred Thousand Dollars ($8,000,000.00) to be made to Ablest, Inc. a Delaware corporation (the “Borrower”) immediately following the Borrower’s merger (the “Merger”) with AIAC, Inc., a Delaware corporation and a wholly owned subsidiary of the Parent Corporation (the “Merger Subsidiary”), as described in that certain Agreement and Plan of Merger proposed to be entered into by and among the Parent Corporation, the Merger Subsidiary and the Borrower (the “Merger Plan”); and (b) a senior secured revolving credit facility in a principal amount not to exceed Seven Million Five Hundred Thousand ($7,500,000.00) at any one time outstanding to be made available to the Borrower following the Merger, subject to the following terms
The Burton Partnership, Limited Partnership The Burton Partnership (QP), Limited Partnership 614 W. Bay Street, Suite 200 Tampa, FL 33606 February 28, 2007Expense Sharing Agreement • April 16th, 2007 • Burton Donald W • Services-help supply services • Florida
This letter confirms our agreement regarding certain expenses incurred by AACH, Inc. (“AACH”) or any of us or our respective affiliates in connection with our current efforts to acquire all of the outstanding shares of common stock of Ablest Inc. (the “Potential Transaction”).
