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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000899681-05-000254.txt : 20050318
<SEC-HEADER>0000899681-05-000254.hdr.sgml : 20050318
<ACCEPTANCE-DATETIME>20050318095956
ACCESSION NUMBER:		0000899681-05-000254
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20050317
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050318
DATE AS OF CHANGE:		20050318

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SYSTEMAX INC
		CENTRAL INDEX KEY:			0000945114
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
		IRS NUMBER:				113262067
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13792
		FILM NUMBER:		05690508

	BUSINESS ADDRESS:	
		STREET 1:		22 HARBOR PARK DR
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050
		BUSINESS PHONE:		5166087000

	MAIL ADDRESS:	
		STREET 1:		22 HARBOR PARK DRIVE
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GLOBAL DIRECTMAIL CORP
		DATE OF NAME CHANGE:	19950509
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>systemax-8k_031705.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>8-K</TITLE>
</HEAD>
<BODY>


<P ALIGN=CENTER><FONT SIZE=3>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</FONT></P>

<HR SIZE=1 WIDTH=35% ALIGN=CENTER>

<P ALIGN=CENTER><FONT SIZE=3><B>FORM 8-K</B><BR>
<BR>
CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(D) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934<BR>
<BR>
Date of Report (Date of earliest event reported): March 17, 2005<BR>
<BR>
<B>Systemax Inc.</B><BR>
(Exact Name of Registrant as Specified in Charter)</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=33% ALIGN=CENTER>
<B>Delaware</B><BR>
(State or Other Jurisdiction<BR>
of Incorporation)</TD>
<TD WIDTH=33% ALIGN=CENTER>
<B>1-13792</B><BR>
(Commission<BR>
File Number)</TD>
<TD WIDTH=34% ALIGN=CENTER>
<B>11-3262067</B><BR>
(IRS Employer<BR>
Identification No.)</TD>
</TR>
</TABLE>
<BR>


<P ALIGN=CENTER><FONT SIZE=3><B>11 Harbor Park Drive<BR>
Port Washington, New York 11050</B><BR>
(Address of Principal Executive offices, including Zip Code)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>Registrant's telephone number, including area code: <B>(516) 608-7000</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>N.A.</B><BR>
(Former Name or Former Address, if Changed Since Last Report)</FONT></P>

<P><FONT SIZE=3>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligations of the registrant
under any of the following provisions (<I>see</I> General Instruction A.2
below): </FONT></P>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT>|__|</TD>
<TD WIDTH=95%>Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT>|__|</TD>
<TD WIDTH=95%>Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14-12)</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT>|__|</TD>
<TD WIDTH=95%>Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240-14d-2(b))</TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT>|__|</TD>
<TD WIDTH=95%>Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CRF 240.13e-4(c))</TD>
</TR>
</TABLE>
<BR>

<PAGE>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><B><U>ITEM 1.01</U></B></TD>
<TD WIDTH=90%><B><U>Entry Into a Material Definitive Agreement</U></B></TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
March 17, 2005, the Company entered into an amendment to its Loan and Security
Agreement with JPMorgan Chase Bank and other lenders (dated as of March 8,
2005), to extend the revolving credit facility, originally set to expire on
March 31, 2005, through September 30, 2006 under substantially the same terms
and conditions. There are currently no borrowings outstanding under the credit
facility. A copy of the amendment is filed as an exhibit to this Form 8-K. </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><B><U>ITEM 7.01</U></B></TD>
<TD WIDTH=90%><B><U>Regulation FD Discloslure</U></B></TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following press release regarding an amendment to its Loan and Security
Agreement with JPMorgan Chase Bank was issued by the Company on March 17, 2005:
</FONT></P>

<IMG SRC="system.jpg">

<P ALIGN=LEFT><FONT SIZE=3><B><U>FOR IMMEDIATE RELEASE</U></B></FONT></P>

<P ALIGN=LEFT><FONT SIZE=3><B>INVESTOR CONTACT:<BR>
Steven M. Goldschein<BR>
516-608-7000</B></FONT></P>

<HR SIZE=1 NOSHADE>

<P ALIGN=CENTER><FONT SIZE=3><B>SYSTEMAX EXTENDS CREDIT FACILITY</B></FONT></P>

<P><FONT SIZE=3><B>PORT WASHINGTON, NY, March 17, 2005</B> - Systemax Inc.
(NYSE:SYX), a leading distributor and manufacturer of PC hardware, related
computer products and industrial products in North America and Europe, today
announced the signing of an extension of its $70 million revolving credit
agreement with a group of financial institutions led by JPMorgan Chase Bank,N.A
</FONT></P>

<P><FONT SIZE=3>Steven Goldschein, Senior Vice President and Chief Financial
Officer, stated that the Company and its lenders have agreed to extend the
Revolving Credit Agreement, originally set to expire on March 31, 2005, through
September 30, 2006, under substantially the same terms and conditions. There are
currently no borrowings outstanding under the credit agreement. </FONT></P>

<P><FONT SIZE=3>Systemax Inc. (<U>www.systemax.com</U>) utilizes an integrated
system of branded e-commerce web sites, direct mail catalogs, and relationship
marketers to sell PC hardware, related computer products and industrial products
in North America and Europe. Systemax is a Fortune 1000 company. </FONT></P>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><B><U>ITEM 9.01</U></B></TD>
<TD WIDTH=90%><B><U>Financial Statements and Exhibits</U></B></TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><I>(a)</I></TD>
<TD WIDTH=95%><I>Financial Statements of Business Acquired - not applicable</I></TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><I>(b)</I></TD>
<TD WIDTH=95%><I>Pro Forma Financial Information - not applicable</I></TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><I>(c)</I></TD>
<TD WIDTH=95%><I>Exhibits</I></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT></TD>
<TD WIDTH=5%>10.1</TD>
<TD WIDTH=90%>Amendment No. 11, dated as of March 8, 2005 to Loan and Security
Agreement with JPMorgan Chase Bank and other lenders, and dated as of June 13,
2001</TD>
</TR>
</TABLE>
<BR>

<PAGE>


<P ALIGN=CENTER><FONT SIZE=3><B>SIGNATURES</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized. </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=50% ALIGN=LEFT></TD>
<TD WIDTH=50%>SYSTEMAX INC.<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/ Steven Goldschein&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;Steven Goldschein<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and CFO</TD>
</TR>
</TABLE>
<BR>


<P><FONT SIZE=3>Dated:  March 17, 2005</FONT></P>

<PAGE>

<P ALIGN=CENTER><FONT SIZE=3>EXHIBIT INDEX</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT>10.1</TD>
<TD WIDTH=95%>Amendment No. 11, dated as of March 8, 2004 to Loan and Security
Agreement with JPMorgan Chase Bank and other lenders, and dated as of June 13,
2001</TD>
</TR>
</TABLE>
<BR>

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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>3
<FILENAME>systemax-ex101_031705.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML>
<HEAD>
<TITLE>Ex-10.1</TITLE>
</HEAD>
<BODY>


<P ALIGN=RIGHT><FONT SIZE=3>EXHIBIT 10.1</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>AMENDMENT NO. 11<BR>
TO<BR>
LOAN AND SECURITY AGREEMENT</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>THIS AMENDMENT NO. 11</B> ("Amendment No. 11") is entered into as of March 8,
2005 by and between SYSTEMAX INC., a corporation organized under the laws of the
State of Delaware ("SYX"), SYSTEMAX MANUFACTURING INC., a corporation organized
under the laws of the State of Delaware ("SMI"), GLOBAL COMPUTER SUPPLIES INC.,
a corporation organized under the laws of the State of New York ("GCS"), GLOBAL
EQUIPMENT COMPANY, INC., a corporation organized under the laws of the State of
New York ("GEC"), TIGER DIRECT, INC., a corporation organized under the laws of
the State of Florida ("Tiger"), DARTEK CORPORATION, a corporation organized
under the laws of the State of Delaware ("Dartek"), NEXEL INDUSTRIES, INC., a
corporation organized under the laws of the State of New York ("NII"), MISCO
AMERICA INC., a corporation organized under the laws of the State of Delaware
("Misco"), ONREBATE.COM INC. (formerly known as SYSTEMAX RETAIL SALES INC.), a
corporation organized under the laws of the State of Delaware ("OCI"), PAPIER
CATALOGUES, INC., a corporation organized under the laws of the State of New
York ("PCI"), CATALOG DATA SYSTEMS, INC., a corporation organized under the laws
of the State of New York ("CDS"), MILLENNIUM FALCON CORP., a corporation
organized under the laws of the State of Delaware ("MFC"), TEK SERV INC., a
corporation organized under the laws of the State of Delaware ("TSI"), B.T.S.A.,
Inc., a corporation organized under the laws of the State of New York ("BTSA"),
PROFIT CENTER SOFTWARE INC., a corporation organized under the laws of the State
of New York ("PCS"), GLOBAL GOV'T/EDUCATION SOLUTIONS INC., a corporation
organized under the laws of the State of Delaware ("GGES") and SYX DISTRIBUTION
INC., a corporation organized under the laws of the State of Delaware ("SYXD")
(SYX, SMI, GCS, GEC, Tiger, Dartek, NII, Misco, OCI, PCI, CDS, MFC, TSI, BTSA,
PCS, GGES and SYXD, each a "Borrower" and jointly and severally the
"Borrowers"), the lenders who are parties to the Loan Agreement, as defined
herein ("Lenders") and JPMORGAN CHASE BANK, N.A., as agent for the Lenders
("Agent").</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>BACKGROUND</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Borrowers, Agent and Lenders are parties to a Loan and Security Agreement dated
as of June 13, 2001 (as amended by Amendment No. 1 to Loan and Security
Agreement dated as of September 1, 2001, Amendment No. 2 to Loan and Security
Agreement and Consent dated as of December 13, 2001, Amendment No. 3 to Loan and
Security Agreement dated as of December 20, 2001, Amendment No. 4 to Loan and
Security Agreement and Consent dated as of April 18, 2002, Amendment No. 5 and
Waiver to Loan and Security Agreement dated as of June 30, 2002, Amendment No. 6
to Loan and Security Agreement dated as of September 22, 2003, Amendment No. 7
to Loan and Security Agreement dated as of November 17, 2003, Joinder and
Amendment No. 8 dated as of May 10, 2004, Amendment No. 9 to Loan and Security
Agreement dated as of July 2, 2004, and Amendment No. 10 to Loan and Security
Agreement dated as of December 9, 2004, and as the same may be amended,
supplemented or otherwise modified from time to time, the &#147;Loan
Agreement&#148;) pursuant to which the Lenders provided the Borrowers with
certain financial accommodations. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Borrowers have requested Agent and Lenders to (a) extend the Termination Date
from March 31, 2005 to September 30, 2006 and (b) increase the maximum amount of
Letters of Credit which may be issued under the terms of the Loan Agreement from
$12,000,000 to $15,000,000. Agent and Lenders are willing to so amend the Loan
Agreement on the terms and conditions hereafter set forth. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>NOW, THEREFORE</B>, in consideration of any loan or advance or grant of
credit heretofore or hereafter made to or for the account of Borrowers by
Lenders, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows: </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All capitalized terms not otherwise defined herein shall have the meanings given
to them in the Loan Agreement.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment to Loan Agreement</U>.&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;Subject to satisfaction of the conditions precedent set forth
in Section 3 below, the Loan Agreement is hereby amended as follows:</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The definition of
"Termination Date" set forth in Section 1.2 is hereby amended and restated in
its entirety as follows:</FONT></P>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT></TD>
<TD WIDTH=90%><U>Termination Date</U>" shall mean September 30, 2006.</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The penultimate
sentence appearing in Section 2.8 of the Loan Agreement is hereby amended and
restated in its entirety as follows:</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT></TD>
<TD WIDTH=90%>The maximum amount of outstanding Letters of Credit shall not
exceed $15,000,000 in the aggregate at any time.</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions of Effectiveness</U>.&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;This Amendment No. 11 shall become effective as of the date
upon which Agent shall have received (a) six (6) copies of this Amendment No. 11
executed by Borrowers, each of the Lenders and each Guarantor, (b) a certain fee
letter dated as of the date hereof executed by Borrowers and each Guarantor,
together with payment in full of the fee set forth therein, and (c) such other
certificates, instruments, documents, agreements and opinions of counsel as may
be required by Agent or its counsel, each of which shall be in form and
substance satisfactory to Agent and its counsel.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Release</U>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each Borrower hereby releases, remises, acquits and forever discharges each
Lender and Agent and each Lender's and Agent's employees, agents,
representatives, consultants, attorneys, fiduciaries, officers, directors,
partners, predecessors, successors and assigns, subsidiary corporations, parent
corporations, and related corporate divisions (all of the foregoing hereinafter
called the "Released Parties"), from any and all actions and causes of action,
judgments, executions, suits, debts, claims, demands, liabilities, obligations,
damages and expenses of any and every character, known or unknown, direct and/or
indirect, at law or in equity, of whatsoever kind or nature, for or because of
any matter or things done, omitted or suffered to be done by any of the Released
Parties prior to and including the date of execution hereof, and in any way
directly or indirectly arising out of or in any way connected to this Amendment
No. 11, the Loan Agreement or the Other Documents (all of the foregoing
hereinafter called the "Released Matters"). Each Borrower acknowledges that the
agreements in this Section are intended to be in full satisfaction of all or any
alleged injuries or damages arising in connection with the Released
Matters.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations and
Warranties</U>.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;Borrowers hereby represent and
warrant as follows:</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment
No. 11, and the Loan Agreement, as amended hereby, constitute legal, valid and
binding obligations of Borrowers and are enforceable against Borrowers in
accordance with their respective terms.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the
effectiveness of this Amendment No. 11, each Borrower hereby reaffirms all
covenants, representations and warranties made in the Loan Agreement and agree
that all such covenants, representations and warranties shall be deemed to have
been remade as of the effective date of this Amendment No. 11.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Event of
Default or Default has occurred and is continuing or would exist, after giving
effect to this Amendment No. 11.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowers have no
defense, counterclaim or offset with respect to the Loan Agreement.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect on the Loan Agreement</U>.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the
effectiveness of this Amendment No. 11, each reference in the Loan Agreement to
"this Agreement," "hereunder," "hereof," "herein" or words of like import shall
mean and be a reference to the Loan Agreement as amended hereby.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as
specifically amended herein, the Loan Agreement, and all other documents,
instruments and agreements executed and/or delivered in connection therewith,
shall remain in full force and effect, and are hereby ratified and confirmed.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 (c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
execution, delivery and effectiveness of this Amendment No. 11 shall not operate
as a waiver of any right, power or remedy of Agent or any Lender, nor constitute
a waiver of any provision of the Loan Agreement, or any other documents,
instruments or agreements executed and/or delivered under or in connection
therewith. </FONT></P>

<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law</U>.&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;This Amendment No. 11 shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns and
shall be governed by and construed in accordance with the laws of the State of
New York.</FONT></P>

<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;Section headings in this Amendment No. 11 are included herein for
convenience of reference only and shall not constitute a part of this Amendment
No. 11 for any other purpose.</FONT></P>

<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts; Telecopied
Signatures</U>.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;This Amendment No. 11 may be
executed by the parties hereto in one or more counterparts, each of which shall
be deemed an original and all of which taken together shall be deemed to
constitute one and the same agreement. Any signature delivered by a party via
telecopier shall be deemed to be an original signature hereto.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>IN WITNESS WHEREOF</B>, this Amendment No. 11 has been duly executed as of
the day and year first written above. </FONT></P>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=50% ALIGN=LEFT></TD>
<TD WIDTH=50%>SYSTEMAX INC.<BR>
<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/&nbsp;Steven M. Goldschein&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;Steven M. Goldschein<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President<BR>
<BR>
SYSTEMAX MANUFACTURING INC.<BR>
GLOBAL COMPUTER SUPPLIES INC.<BR>
GLOBAL EQUIPMENT COMPANY, INC.<BR>
TIGER DIRECT, INC.<BR>
DARTEK CORPORATION<BR>
NEXEL INDUSTRIES, INC.<BR>
MISCO AMERICA INC.<BR>
ONREBATE.COM INC.<BR>
PAPIER CATALOGUES, INC.<BR>
CATALOG DATA SYSTEMS, INC.<BR>
MILLENNIUM FALCON CORP.<BR>
TEK SERV INC.<BR>
B.T.S.A., INC.<BR>
PROFIT CENTER SOFTWARE INC.<BR>
GLOBAL GOV'T/EDUCATION SOLUTIONS INC.<BR>
SYX DISTRIBUTION INC.<BR>
<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/&nbsp;Steven M. Goldschein&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;Steven M. Goldschein<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Vice President<BR>
<BR>
JPMORGAN CHASE BANK, N.A., as Lender and as Agent<BR>
<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/&nbsp;Donna M. DiForio&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;Donna M. DiForio<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Vice President<BR>
<BR>
TRANSAMERICA BUSINESS CAPITAL CORPORATION,<BR>
as Lender and as Co-Agent<BR>
<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/&nbsp;James De Santis&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Its:&nbsp;&nbsp;Duly Authorized Signatory<BR>
<BR>
GMAC COMMERCIAL FINANCE LLC,<BR>
as Lender<BR>
<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/&nbsp;Harvey Winter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Its:&nbsp;&nbsp;Vice President</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=50% ALIGN=LEFT>ACKNOWLEDGED AND AGREED:<BR>
<BR>
SYSTEMAX SUWANEE LLC<BR>
<BR>
By:&nbsp;&nbsp;Systemax Inc., Member<BR>
<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/&nbsp;Steven M. Goldschein&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;Steven M. Goldschein<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President<BR>
<BR>
THE MILLENNIUM GROUP LLC<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/&nbsp;Steven M. Goldschein&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;Steven M. Goldschein<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Vice President<BR>
<BR>
SYSTEMAX SERVICES INC.<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/&nbsp;Steven M. Goldschein&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;Steven M. Goldschein<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Vice President<BR></TD>
<TD WIDTH=50%>&nbsp;</TD>
</TR>
</TABLE>
<BR>

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