<SUBMISSION>
<ACCESSION-NUMBER>0000950144-03-009322
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20030805
<ITEMS>7
<ITEMS>9
<FILING-DATE>20030805
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>VENTURI PARTNERS INC
<CIK>0000948850
<ASSIGNED-SIC>7363
<IRS-NUMBER>561930691
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0103
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-13956
<FILM-NUMBER>03823601
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2709 WATER RIDGE PKWY
<STREET2>2ND FLOOR
<CITY>CHARLOTTE
<STATE>NC
<ZIP>28217
<PHONE>7044425100
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2709 WATER RIDGE PKWY
<STREET2>2ND FLOOR
<CITY>CHARLOTTE
<STATE>NC
<ZIP>28217
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>PERSONNEL GROUP OF AMERICA INC
<DATE-CHANGED>19950802
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>g84228e8vk.htm
<DESCRIPTION>VENTURI PARTNERS, INC.
<TEXT>
<HTML>
<HEAD>
<TITLE>Venturi Partners, Inc.</TITLE>
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<P align="center"><FONT size="2">SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, DC 20549</FONT>

<P align="center"><FONT size="2">FORM 8-K</FONT>

<P align="center"><FONT size="2">CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(D) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934
</FONT>

<P align="center"><FONT size="2">Date of Report (Date of earliest
event reported) &nbsp;&nbsp;August&nbsp;5, 2003</FONT>

<P align="center"><FONT size="3"><B>VENTURI PARTNERS, INC.</B></FONT><BR>
<FONT size="2">(Exact name of Registrant as specified in its charter)</FONT>

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    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
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    <TD align="center" valign="top"><FONT size="2"><U>Delaware</U></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<U>7363</U></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2"><U>56-1930691</U></FONT></TD>
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    <TD align="center" valign="top"><FONT size="2">(State or other jurisdiction of</FONT></TD>
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(Primary Standard Industrial</FONT></TD>
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    <TD align="center" valign="top"><FONT size="2">(I.R.S. employer</FONT></TD>
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    <TD align="center" valign="top"><FONT size="2">incorporation or organization)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
Classification Code number)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">identification number)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">Five LakePointe Plaza<BR>
2709 Water Ridge Parkway, 2nd Floor<BR>
<U>Charlotte, North Carolina 28217</U><BR>
(Address, including zip code, of<BR>
Registrant&#146;s principal executive offices)
</FONT>

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<P align="center"><FONT size="2"><U>(704)&nbsp;442-5100</U><BR>
(Registrant&#146;s telephone number, including area code)</FONT>

<P align="center"><FONT size="2"><B><U>PERSONNEL GROUP OF AMERICA, INC.</U></B><BR>
(Former name or address, if changed from last report)</FONT>

<P align="center"><FONT size="2">&nbsp;</FONT>
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<P align="left"><FONT size="2">Item&nbsp;7. <U>Financial Statements and Exhibits</U>.</FONT>

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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(a)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Financial Statements</FONT></TD>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Not applicable</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(b)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Pro Forma Financial Information</FONT></TD>
</TR>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Not applicable</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(c)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Exhibits</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>

<TD width="90%"><FONT size="2">Exhibit&nbsp;99.1&nbsp;&nbsp;&nbsp;Press release dated August&nbsp;5, 2003</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>

<TD width="90%"><FONT size="2">Exhibit&nbsp;99.2&nbsp;&nbsp;&nbsp;Restated Certificate of Incorporation</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2">Item&nbsp;9. <U>Regulation&nbsp;FD Disclosure</U>.</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On August&nbsp;5, 2003, Venturi Partners, Inc. f/k/a/ Personnel Group of
America, Inc. (&#147;Venturi&#148;) issued a press release announcing that it has filed a
charter amendment that, among other things, changes its corporate name to
Venturi Partners, Inc. and effects a 1-for-25 reverse stock split. The press
release and Restated Certificate of Incorporation are attached as Exhibits 99.1
and 99.2 to this Current Report on Form&nbsp;8-K.
</FONT>
<P><FONT size="2">
</FONT>
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<P align="center"><FONT size="2">SIGNATURES</FONT>

<P><FONT size="2">&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>
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    <TD width="3%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">Date: August&nbsp;5, 2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left" valign="top"><FONT size="2">Personnel Group of America, Inc.</FONT></TD>
</TR>

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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ Ken R. Bramlett, Jr.</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Ken R. Bramlett, Jr.</FONT></TD>
</TR>

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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Senior Vice President, Secretary and General Counsel</FONT></TD>
</TR>
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<P align="center"><FONT size="2">Exhibit&nbsp;Index</FONT>

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<TR valign="bottom">
    <TD width="24%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="71%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
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    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">Exhibit&nbsp;99.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Press release dated August&nbsp;5, 2003</FONT></TD>
</TR>

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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">Exhibit&nbsp;99.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Restated Certificate of Incorporation</FONT></TD>
</TR>
</TABLE>
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<P align="center"><FONT size="2">&nbsp;</FONT>




</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>g84228exv99w1.htm
<DESCRIPTION>EX-99.1 PRESS RELEASE DATED AUGUST 5, 2003
<TEXT>
<HTML>
<HEAD>
<TITLE>Ex-99.1 Press release dated August 5, 2003</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<P align="right"><FONT size="2">&#091;VENTURI PARTNERS LOGO&#093;</FONT>

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<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="75%">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">For more information contact:</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Ken R. Bramlett, Jr.<BR>
mailto:kbramlett@venturipartners.com<BR>
(704)&nbsp;442-5106
</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="3"><B>PERSONNEL GROUP OF AMERICA CHANGES NAME TO VENTURI PARTNERS</B></FONT>

<P align="center"><FONT size="3"><B>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;</B></FONT>

<P align="center"><FONT size="3"><B>REVERSE STOCK SPLIT ALSO COMPLETED</B></FONT>

<P><FONT size="2">Charlotte, NC (August&nbsp;5, 2003) &#150; Personnel Group of America, Inc. today
announced that it has changed its corporate name to Venturi Partners, Inc.,
effective today.
</FONT>
<P><FONT size="2">The Company also announced that its 1-for-25 reverse stock split has become
effective. With the reverse split completed, the Company intends to convert all
of the outstanding shares of its Series&nbsp;B preferred stock into common stock as
contemplated in its recently completed financial restructuring. As a result of
the reverse split, and following the preferred stock conversion, the Company
will have approximately 6.1&nbsp;million outstanding shares of common stock.
</FONT>
<P><FONT size="2">&#147;Over the last two years, we have completed an operational and financial
transformation of our Company,&#148; said Larry L. Enterline, Chief Executive
Officer of Venturi Partners. &#147;As the disruption from our financial
restructuring subsides, and especially as the economy finally begins to
recover, it&#146;s fitting that we begin the next phase in the Company&#146;s evolution
with a new identity and stock ticker symbol, and a new stock price. We expect
all of these activities to position us for the return of our stock to one of
the national securities exchanges, but in the meantime we will continue to
trade on the Over the Counter Bulletin Board under the new ticker symbol <B>VPTR</B>.&#148;
</FONT>
<P><FONT size="2">Venturi Partners will continue to focus on its customers as its top priority,
and is committed to introducing new technology tools designed to increase the
efficiency of their hiring processes. Examples of Venturi&#146;s commitment in this
area include ToneBurst, a proprietary voice analysis technology that allows a
customer to screen a candidate&#146;s &#147;selling voice&#148; before he or she is hired for
a telephone-based position, and new online program StyleMatcher, which
identifies workplace preferences shared by Venturi customers and their
potential employees and enables a determination of which candidates are
best-suited to a company&#146;s culture before they are hired.
</FONT>
<P><FONT size="2">&#147;With our new brand identity in place, we can work in a more collaborative
manner across multiple geographic markets, and leverage all our best practices
to improve our customers&#146; own profitability&#148; Enterline added. &#147;We&#146;re excited
about the opportunities our new brand will create and determined to build a
brand that is synonymous with the highest quality IT staffing and consulting
and commercial staffing services.&#148;
</FONT>
<P><FONT size="2"><B>About Venturi Partners</B><BR>
Venturi Partners, Inc. is a nationwide provider of information technology
consulting and custom software development services; high-end clerical,
accounting and other specialty professional staffing services; and technology
systems for human capital management. The Company&#146;s Technology operations
operate under the name &#147;Venturi Technology Partners&#148; and its Staffing
operations are known as &#147;Venturi Staffing Partners&#148; and &#147;Venturi Career
Partners.&#148;
</FONT>
<P align="center"><FONT size="2">-MORE-</FONT>

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<P><FONT size="2">PGA Changes Name to Venturi Partners, Inc.<BR>
Page 2<BR>
August&nbsp;5, 2003
</FONT>
<P><FONT size="2"><B>Forward-looking Statements</B><BR>
Certain information contained in this press release may be deemed
forward-looking statements regarding events and financial trends that may
affect Venturi&#146;s future operating results or financial position. These
statements may be identified by words such as &#147;estimate,&#148; &#147;forecast,&#148; &#147;plan,&#148;
&#147;intend,&#148; &#147;believe,&#148; &#147;should,&#148; &#147;expect,&#148; &#147;anticipate,&#148; or variations or
negatives thereof, or by similar or comparable words or phrases.
Forward-looking statements are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed in such
statements.
</FONT>
<P><FONT size="2">These risks and uncertainties include, but are not limited to, the following:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">changes in levels of unemployment and other economic conditions in
the United States, or in particular regions or industries;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">continuing weakness or further reductions in corporate information
technology spending levels;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">the ability of the Company to maintain existing client
relationships and attract new clients in the context of changing
economic or competitive conditions;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">the impact of competitive pressures, including any change in the
demand for the Company&#146;s services, or the Company&#146;s ability to maintain
or improve its operating margins;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">an Internal Revenue Service audit of the Company&#146;s income tax
returns and the risk that assessments for additional taxes, penalties
and interest could be levied against the Company;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">the entry of new competitors into the marketplace or expansion by
existing competitors;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">the Company&#146;s success in attracting, training and retaining
qualified management personnel and other staff employees;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">reductions in the supply of qualified candidates for temporary
employment or the Company&#146;s ability to attract qualified candidates;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">the possibility of the Company incurring liability for the
activities of its temporary employees or for events impacting its
temporary employees on clients&#146; premises;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">the risk in an uncertain economic environment of increased
incidences of employment disputes, employment litigation and workers&#146;
compensation claims;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">the risk that further cost cutting or restructuring activities
undertaken by the Company could cause an adverse impact on certain of
the Company&#146;s operations;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">economic declines that affect the Company&#146;s liquidity or ability to
comply with its loan covenants;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">the risks of defaults under the Company&#146;s credit agreements;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">adverse changes in credit and capital markets conditions that may
affect the Company&#146;s ability to obtain financing or refinancing on
favorable terms;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">adverse changes to management&#146;s periodic estimates of future cash
flows that may affect management&#146;s assessment of its ability to fully
recover its goodwill;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">whether governments will impose additional regulations or licensing
requirements on staffing services businesses in particular or on
employer/employee relationships in general; and</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">&#149;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="92%"><FONT size="2">other matters discussed in this press release and the Company&#146;s SEC
filings.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">Because long-term contracts are not a significant part of Venturi&#146;s business,
future results cannot be reliably predicted by considering past trends or
extrapolating past results. The Company undertakes no obligation to update
information contained in this release and is not responsible for any changes
made to this release by wire or Internet services.
</FONT>
<P align="center"><FONT size="2">-END-</FONT>






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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>g84228exv99w2.htm
<DESCRIPTION>EX-99.2 RESTATED CERTIFICATE OF INCORPORATION
<TEXT>
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<TITLE>Ex-99.2 Restated Certificate of Incorporation</TITLE>
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<P align="center"><FONT size="2"><B>RESTATED</B></FONT>

<P align="center"><FONT size="2"><B>CERTIFICATE OF INCORPORATION</B></FONT>

<P align="center"><FONT size="2"><B>OF</B></FONT>

<P align="center"><FONT size="2"><B>PERSONNEL GROUP OF AMERICA, INC.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned, Larry Enterline, certifies that he is the Chief Executive
Officer of Personnel Group of America, Inc. (the &#147;Corporation&#148;), a corporation
organized and existing under the General Corporation Law of the State of
Delaware (the &#147;GCL&#148;), and does hereby further certify as follows:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The name of the Corporation is Personnel Group of America, Inc. and the
Corporation was originally incorporated under the name Personnel Group of
America, Inc.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The original certificate of incorporation of the Corporation was filed
with the Secretary of State of the State of Delaware on July&nbsp;7, 1995, the
original restated certificate of incorporation of the Corporation was filed
with the Secretary of State of the State of Delaware on July&nbsp;28, 1995 and the
second restated certificate of incorporation of the Corporation (the &#147;Second
Restated Certificate of Incorporation&#148;) was filed with the Secretary of State
of the State of Delaware on August&nbsp;24, 1995.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Restated Certificate of Incorporation was duly approved by the
Board of Directors of the Corporation (the &#147;Board of Directors&#148;) and adopted by
the stockholders of the Corporation in accordance with Sections&nbsp;242 and 245 of
the GCL.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Restated Certificate of Incorporation restates and integrates and
further amends the Second Restated Certificate of Incorporation, as heretofore
amended or supplemented.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the Effective Time (as defined below) of this Restated Certificate
of Incorporation pursuant to the GCL, and without further action on the part of
the Corporation or its stockholders: (a)&nbsp;each share of Common Stock, par value
$0.01 per share, of the Corporation shall be combined on a basis of 1 share for
every 25 shares (the &#147;<U>Reverse Stock Split</U>&#148;); (b)&nbsp;the par value of each share of
Common Stock, par value $0.01 per share, shall be restated to $0.01 per share;
(c)&nbsp;each 25 shares of Common Stock, par value $0.01 per share, outstanding
shall be deemed to represent one share of Common Stock, par value $0.01 per
share; and (d)&nbsp;all fractional shares resulting from the foregoing shall be
eliminated and each holder thereof shall be entitled to receive a cash payment
equal to such holder&#146;s fraction of a share of Common Stock, par value $0.01 per
share, multiplied by $6.3125 per share. Each certificate that theretofore
represented a share or shares of Common Stock (the &#147;Original Share Number&#148;)
shall thereafter represent that number of shares of Common Stock equal to the
quotient resulting from the division of the Original Share Number by 25,
rounded down to the nearest whole number, plus cash in respect of any
fractional number of shares resulting from the Reverse Stock Split as
calculated in accordance with clause (d)&nbsp;of the preceding sentence.
</FONT>
<P align="center"><FONT size="2">&nbsp;</FONT>
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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Restated Certificate of Incorporation shall become effective at
12:01&nbsp;a.m. on August&nbsp;5, 2003 (the &#147;Effective Time&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The text of the Second Restated Certificate of Incorporation is hereby
amended and restated to read in its entirety as follows:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>First</U>. The name of the corporation is Venturi Partners, Inc. (the
&#147;Corporation&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Second</U>. The address of the Corporation&#146;s registered office in the State
of Delaware is The Corporation Trust Company, The Corporation Trust Center,
1209 Orange Street, Wilmington, Delaware 19801, County of New Castle. The name
of its registered agent at such address is The Corporation Trust Company.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Third</U>. The purpose of the Corporation is to engage in any lawful act or
activity for which corporations may be organized under the General Corporation
Law of Delaware (the &#147;GCL&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fourth</U>.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; Authorized Capital Stock. The total number of shares of all classes
of stock which the Corporation shall have authority to issue is one hundred
million (100,000,000), of which ninety-five million (95,000,000) shares, par
value $0.01 per share, shall be designated as &#147;Common Stock&#148; and five million
(5,000,000) shares, par value $0.01 per share, shall be designated as
&#147;Preferred Stock&#148;. Subject to the terms of any serial designations for any
series of Preferred Stock, the number of authorized shares of Common Stock or
any series of Preferred Stock may be increased or decreased (but not below the
number of shares thereof then outstanding) by the affirmative vote of the
holders of a majority of the outstanding shares entitled to vote, voting
together as a single class, irrespective of the provisions of Section&nbsp;242(b)(2)
of the GCL or any corresponding provision hereafter enacted.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; Common Stock. The powers, preferences and rights, and the
qualifications, limitations and restrictions, of each class of the Common Stock
are as follows:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;No Cumulative Voting. The holders of shares of Common
Stock shall not have cumulative voting rights.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;Dividends; Stock Splits. Subject to the rights of the
holders of Preferred Stock, and subject to any other provisions of
this Restated Certificate of Incorporation, as it may be amended
from time to time, holders of shares of Common Stock shall be
entitled to receive such dividends and other distributions in cash,
stock or property of the Corporation when, as and if declared
thereon by the Board of Directors from time to time out of assets
or funds of the Corporation legally available therefor.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;Liquidation, Dissolution, Etc. In the event of any
liquidation, dissolution or winding up (either voluntary or
involuntary) of the Corporation, the holders of shares of Common
Stock shall be entitled to receive the assets and funds of the
Corporation available for distribution after payments to</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">2</FONT>
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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">creditors and to the holders of any Preferred Stock of the
Corporation that may at the time be outstanding, in proportion to
the number of shares held by them, respectively.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;Merger, Etc. In the event of a merger or consolidation
of the Corporation with or into another entity (whether or not the
Corporation is the surviving entity), the holders of each share of
Common Stock shall be entitled to receive the same per share
consideration on a per share basis.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;No Preemptive Or Subscription Rights. No holder of shares
of Common Stock shall be entitled to preemptive or subscription
rights.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;Power To Sell And Purchase Shares. Subject to the
requirements of applicable law, the Corporation shall have the
power to issue and sell all or any part of any shares of any class
of stock herein or hereafter authorized to such persons, and for
such consideration, as the Board of Directors shall from time to
time, in its discretion, determine, whether or not greater
consideration could be received upon the issue or sale of the same
number of shares of another class, and as otherwise permitted by
law. Subject to the requirements of applicable law, the
Corporation shall have the power to purchase any shares of any
class of stock herein or hereafter authorized from such persons,
and for such consideration, as the Board of Directors shall from
time to time, in its discretion, determine, whether or not less
consideration could be paid upon the purchase of the same number of
shares of another class, and as otherwise permitted by law.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; Preferred Stock. Shares of Preferred Stock may be issued in one or
more series from time to time by the Board of Directors, and the Board of
Directors is expressly authorized to fix for each such class or series such
voting powers, full or limited, or no voting powers and such designations,
preferences and relative participating optional or other special rights and
such qualifications, limitations and restrictions thereof, as shall be stated
and expressed in the resolution or resolutions adopted by the Board of
Directors providing for the issuance of such class or series, in each case
subject to the terms of this Restated Certificate of Incorporation including
without limitation the following:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;the distinctive serial designation of such series which
shall distinguish it from other series;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;the number of shares included in such series;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;the dividend rate (or method of determining such rate)
payable to the holders of the shares of such series, any conditions
upon which such dividends shall be paid and the date or dates upon
which such dividends shall be payable;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;whether dividends on the shares of such series shall be
cumulative and, in the case of shares of any series having
cumulative dividend</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">3</FONT>
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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">rights, the date or dates or method of determining the date or
dates from which dividends on the shares of such series shall be
cumulative;</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;the amount or amounts which shall be payable out of the
assets of the Corporation to the holders of the shares of such
series upon voluntary or involuntary liquidation, dissolution or
winding up the Corporation, and the relative rights of priority, if
any, of payment of the shares of such series;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;the price or prices at which, the period or periods
within which and the terms and conditions upon which the shares of
such series may be redeemed, in whole or in part, at the option of
the Corporation or at the option of the holder or holders thereof
or upon the happening of a specified event or events;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;the obligation, if any, of the Corporation to purchase
or redeem shares of such series pursuant to a sinking fund or
otherwise and the price or prices at which, the period or periods
within which and the terms and conditions upon which the shares of
such series shall be redeemed or purchased, in whole or in part,
pursuant to such obligation;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;whether or not the shares of such series shall be
convertible or exchangeable, at any time or times at the option of
the holder or holders thereof or at the option of the Corporation
or upon the happening of a specified event or events, into shares
of any other class or classes or any other series of the same or
any other class or classes of stock of the Corporation, and the
price or prices or rate or rates of exchange or conversion and any
adjustments applicable thereto; and</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;whether or not the holders of the shares of such series
shall have voting rights, in addition to the voting rights provided
by law, and if so the terms of such voting rights.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fifth</U>. The following provisions are inserted for the management of the
business and the conduct of the affairs of the Corporation, and for further
definition, limitation and regulation of the powers of the Corporation and of
its directors and stockholders:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; The business and affairs of the Corporation shall be managed by or
under the direction of the Board of Directors.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; The Board of Directors shall consist of not less than seven (7)&nbsp;nor
more than nine (9)&nbsp;members, the exact number of which shall be fixed from time
to time in the manner provided in the By-Laws of the Corporation, as amended
from time to time (the &#147;By-Laws&#148;). The number of directors constituting the
Board of Directors shall be fixed at seven (7)&nbsp;as of the date hereof. Election
of directors need not be by written ballot unless the By-Laws so provide.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; In addition to the powers and authority hereinbefore or by statute
expressly conferred upon them, the directors are hereby empowered to exercise
all such powers and do all such acts and things as may be exercised or done by
the Corporation, subject,
</FONT>
<P align="center"><FONT size="2">4</FONT>
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<P><FONT size="2">nevertheless, to the provisions of the GCL, this Restated Certificate of
Incorporation, and any By-Laws adopted by the stockholders; provided, however,
that no By-Laws hereafter adopted by the stockholders shall invalidate any
prior act of the directors which would have been valid if such By-Laws had not
been adopted.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sixth</U>. No director shall be personally liable to the Corporation or any
of its stockholders for monetary damages for breach of fiduciary duty as a
director, except to the extent such exemption from liability or limitation
thereof is not permitted under the GCL as the same exists or may hereafter be
amended. If the GCL is amended hereafter to authorize the further elimination
or limitation of the liability of directors, then the liability of a director
of the Corporation shall be eliminated or limited to the fullest extent
authorized by the GCL, as so amended. Any repeal or modification of this
Article&nbsp;Sixth shall not adversely affect any right or protection of a director
of the Corporation existing at the time of such repeal or modification with
respect to acts or omissions occurring prior to such repeal or modification.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Seventh</U>. The Corporation shall indemnify its directors and officers to
the fullest extent authorized or permitted by law, as now or hereafter in
effect, and such right to indemnification shall continue as to a person who has
ceased to be a director or officer of the Corporation and shall inure to the
benefit of his or her heirs, executors and personal and legal representatives;
<U>provided</U>, <U>however</U>, that, except for proceedings to enforce rights to
indemnification, the Corporation shall not be obligated to indemnify any
director or officer (or his or her heirs, executors or personal or legal
representatives) in connection with a proceeding (or part thereof) initiated by
such person unless such proceeding (or part thereof) was authorized or
consented to by the Board of Directors. The right to indemnification conferred
by this Article&nbsp;Seventh shall include the right to be paid by the Corporation
the expenses incurred in defending or otherwise participating in any proceeding
in advance of its final disposition.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Corporation may, to the extent authorized from time to time by the
Board of Directors, provide rights to indemnification and to the advancement of
expenses to employees and agents of the Corporation similar to those conferred
in this Article&nbsp;Seventh to directors and officers of the Corporation.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The rights to indemnification and to the advance of expenses conferred in
this Article&nbsp;Seventh shall not be exclusive of any other right which any person
may have or hereafter acquire under this Restated Certificate of Incorporation,
the By-Laws, any statute, agreement, vote of stockholders or disinterested
directors or otherwise.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any repeal or modification of this Article&nbsp;Seventh shall not adversely
affect any rights to indemnification and to the advancement of expenses of a
director or officer of the Corporation existing at the time of such repeal or
modification with respect to any acts or omissions occurring prior to such
repeal or modification.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Eighth</U>. Meetings of stockholders may be held within or without the State
of Delaware, as the By-Laws may provide. The books of the Corporation may be
kept (subject to any provision contained in the GCL) outside the State of
Delaware at such place or places as may be designated from time to time by the
Board of Directors or in the By-Laws.
</FONT>
<P align="center"><FONT size="2">5</FONT>
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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Ninth</U>. In furtherance and not in limitation of the powers conferred upon
it by the laws of the State of Delaware, the Board of Directors shall have
concurrent power with the stockholders to adopt, amend, alter, add to or repeal
the By-Laws. Notwithstanding any other provision of this Restated Certificate
of Incorporation (and in addition to any other vote that may be required by
law), for so long as there is a Significant Holder, either (i)&nbsp;the approval of
the Board of Directors, including the affirmative vote of at least one of the
persons designated as nominees by the Significant Holder prior to their
election to the Board of Directors and in accordance with the terms of the
By-Laws (&#147;Significant Holder Designees&#148;), or (ii)&nbsp;the affirmative vote of the
holders of at least seventy-five percent (75%) of the voting power of the
shares entitled to vote generally in the election of directors shall be
required to amend, alter, add to or repeal the By-Laws (including by merger,
consolidation, recapitalization or otherwise).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Tenth</U>. The Corporation hereby elects not to be governed by Section&nbsp;203 of
the GCL pursuant to Section&nbsp;203(b)(3) therein.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Eleventh</U>. The Corporation reserves the right to amend, alter, change or
repeal any provision contained in this Restated Certificate of Incorporation in
the manner now or hereafter prescribed in this Restated Certificate of
Incorporation, the By-Laws or the GCL, and all rights herein conferred upon
stockholders are granted subject to such reservation; <U>provided</U>, <U>however</U>, that,
notwithstanding any other provision of this Restated Certificate of
Incorporation (and in addition to any other vote that may be required by law),
for so long as there is a Significant Holder:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; subject to the following paragraph (b), either (i)&nbsp;the recommendation
or approval of the Board of Directors, including the recommendation or
affirmative vote of at least one of the Significant Holder Designees, or (ii)
the affirmative vote of the holders of at least seventy-five percent (75%) of
the voting power of the shares entitled to vote generally in the election of
directors, shall be required to amend, alter, change or repeal any provision of
this Restated Certificate of Incorporation or to adopt any provisions
inconsistent with the purpose and intent thereof (including by merger,
consolidation, recapitalization or otherwise); and
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; the approval or affirmative vote of (i)&nbsp;any and each Five Percent
Holder and (ii)&nbsp;the Board of Directors by a vote of at least eighty percent
(80%) of the entire Board of Directors shall be required to amend, alter,
change or repeal Article&nbsp;Twelfth or to adopt any provisions inconsistent with
the purpose and intent of Article&nbsp;Twelfth hereof (including by merger,
consolidation, recapitalization or otherwise) but excluding any amendment,
alteration, change or repeal in connection with a merger, consolidation or
similar transaction with an entity that is not a Significant Holder or
Controlled or Controlling Affiliate thereof or a Subsidiary of the Corporation
and that has the result of causing the stockholders of the Corporation
immediately prior to such transaction to beneficially own less than fifty
percent (50%) of the voting power of the shares entitled to vote generally in
elections of directors of the Corporation or the corporation surviving or
resulting from such transaction and less than fifty percent (50%) of the
outstanding shares of Common Stock or common stock of the surviving or
resulting corporation.
</FONT>
<P align="center"><FONT size="2">6</FONT>
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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Twelfth</U>.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; <U>Control Transactions</U>.
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;In addition to any affirmative vote required by law or
this Restated Certificate of Incorporation or the By-Laws, and
except as otherwise expressly provided in Section (a)(ii) of this
Article&nbsp;Twelfth, a Control Transaction shall require the
affirmative vote of not less than fifty percent (50%) of the votes
actually cast by the holders of all the then outstanding shares of
Voting Stock, voting together as a single-class, excluding Voting
Stock beneficially owned by any Significant Holder, or any
Controlled or Controlling Affiliate thereof, proposing to effect
the Control Transaction. Such affirmative vote shall be required
notwithstanding the fact that no vote may be required, or that a
lesser percentage or separate class vote may be specified, by law
or in any agreement with any national securities exchange or
otherwise.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;The provisions of Section (a)(i) of this Article&nbsp;Twelfth
shall not be applicable to any particular Control Transaction, and
such Control Transaction shall require only such affirmative vote,
if any, as is required by law or by any other provision of this
Restated Certificate of Incorporation or the By-Laws, or any
applicable rule or listing standard of any securities exchange or
market on which any of the Corporation&#146;s securities are listed or
approved for trading, if all of the conditions specified in either
of the following paragraphs (A)&nbsp;or (B)&nbsp;are met (any Control
Transaction that satisfies the conditions in paragraphs (A)&nbsp;or (B)
or in Section (a)(i) of this Article&nbsp;Twelfth being, an &#147;Approved
Control Transaction&#148;):</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
&nbsp;&nbsp;Prior to the consummation of the Control
Transaction, it shall have been approved by the
Board of Directors by a vote of at least eighty
percent (80%) of the entire Board of Directors.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B
&nbsp;&nbsp;Prior to consummating the Control
Transaction, the Significant Holder, or any
Controlled or Controlling Affiliate thereof,
proposing to effect such a Control Transaction
shall have made an offer to all of the holders
of shares of the class of Capital Stock the
acquisition of which by a Significant Holder, or
any Controlled or Controlling Affiliate thereof,
would give rise to the proposed Control
Transaction (the &#147;Target Stock&#148;) and on a
proportionate basis to all holders of shares of
any class of Capital Stock that is convertible
into or exchangeable for Target Stock or into or
for which Target Stock is convertible or
exchangeable, for the purchase of any or all of
such shares (&#147;Qualifying Offer&#148;), which offer
remains open for at least twenty (20)&nbsp;business
days and otherwise complies with the rules and
regulations of the Securities Exchange Act of
1934, as amended (the &#147;Act&#148;) and which offer is
made for consideration that is at least</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">7</FONT>
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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">equal to or greater than any other
consideration to be paid by the Significant
Holder, or the Controlled or Controlling
Affiliate, for Voting Stock to be acquired in
the Control Transaction or that was paid by the
Significant Holder, or the Controlled or
Controlling Affiliate, for Voting Stock during
the one hundred and eighty (180)&nbsp;days preceding
the commencement of the Qualifying Offer;
provided that any such Control Transaction shall
be consummated within ninety (90)&nbsp;days of the
expiration of the Qualifying Offer.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;Anything to the contrary herein notwithstanding, the
provisions of this Article&nbsp;Twelfth shall not apply to any
transaction following the consummation of an Approved Control
Transaction.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; <U>Related-Party Transactions</U>. In addition to any affirmative vote
required by law or this Restated Certificate of Incorporation or the By-Laws, a
Related-Party Transaction shall require the approval or affirmative vote of (i)
any and each Five Percent Holder prior to the consummation of such
Related-Party Transaction and (ii)&nbsp;the Board of Directors by a vote of at least
eighty percent (80%) of the entire Board of Directors prior to the consummation
of such Related-Party Transaction. Such affirmative vote or approval shall be
required notwithstanding the fact that no vote may be required, or that a
lesser or separate class vote may be specified, by law or in any agreement with
any national securities exchange or otherwise.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; The following definitions shall apply with respect to this Restated
Certificate of Incorporation:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;The term &#147;Control Transaction&#148; shall mean:</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
&nbsp;&nbsp;The acquisition in one or a series of
transactions by a Significant Holder, or any
Controlled or Controlling Affiliate thereof, of
shares of any class or series of Capital Stock
that has the effect of causing such Significant
Holder to increase its beneficial ownership to
seventy-five percent (75%) or more of the votes
entitled to be cast by the holders of all then
outstanding shares of Voting Stock; or</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B &nbsp;&nbsp;any reclassification of securities
(including any reverse stock split), or
recapitalization of the Corporation (including
any stock repurchases by the Corporation), or
any merger or consolidation of the Corporation
with any of its Subsidiaries or any other
transaction (whether or not with or otherwise
involving a Significant Stockholder) that has
the effect, directly or indirectly, of
increasing the proportionate share of any class
or series of Capital Stock, or any securities
convertible into Capital Stock or into equity
securities of any Subsidiary,</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">8</FONT>
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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">that is beneficially owned by any
Significant Stockholder, such that after giving
effect to such reclassification,
recapitalization or other transaction, a
Significant Holder will beneficially own
seventy-five percent (75%) or more of the votes
entitled to be cast by the holders of all then
outstanding shares of Voting Stock.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;The term &#147;Related-Party Transaction&#148; shall mean:</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A &nbsp;&nbsp;a liquidation or dissolution of the
Corporation that is voted for or consented to by
any Related Party, or any Controlled or
Controlling Affiliate thereof, that immediately
prior to such transaction beneficially owns more
than fifty percent (50%) of the votes entitled
to be cast by the holders of all then
outstanding shares of Voting Stock; or</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B &nbsp;&nbsp;any sale of assets of the Corporation or
any material Subsidiary to, or any acquisition
of assets from or share subscription in, a
Related Party, or any Controlled or Controlling
Affiliate thereof, directly or indirectly and in
any transaction or series of related
transactions, the value of which in each case
exceeds $5&nbsp;million; or</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C &nbsp;&nbsp;any merger, statutory share exchange or
consolidation involving the Corporation or any
Subsidiary, directly or indirectly and in any
transaction or series of related transactions,
the value of which in each case exceeds $5
million, with any Related Party or any
Controlled or Controlling Affiliate thereof; or</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D &nbsp;&nbsp;any merger, statutory share exchange or
consolidation involving the Corporation or any
Subsidiary, directly or indirectly and in any
transaction or series of related transactions,
the value of which in each case exceeds $5
million and pursuant to which any Related Party,
or any Controlled or Controlling Affiliate
thereof, is entitled to receive consideration in
respect of its securities that is different in
form (including, as different in form, the
retention by some stockholders of their existing
securities, while other stockholders of the same
class are not so retaining their existing
securities) or amount from that offered to other
holders of the same class of securities
(excluding ancillary arrangements or rights
entailing no monetary payments other than for
reasonable third-party legal fees, out-of-pocket
expense reimbursement and indemnification for
the benefit of a Related Party or its</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">9</FONT>
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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">Controlled or Controlled Affiliates for
liabilities in respect of which other holders of
the same class have no liability); or</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E &nbsp;&nbsp;any other transaction or series of
related transactions, the value of which in each
case exceeds $5&nbsp;million, between or among the
Corporation and/or any Subsidiary, on the one
hand, and any Related Parties or any Controlled
or Controlling Affiliates thereof, on the other
hand (other than a subscription for shares of
the Corporation by any Related Party or any
Controlled or Controlling Affiliate thereof,
pursuant to a rights offering made available to
all holders of Common Stock on a pro rata basis
and for the same amount and form of
consideration and otherwise on substantially the
same terms and conditions).</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;The term &#147;Capital Stock&#148; shall mean all capital stock of
the Corporation authorized to be issued from time to time under
Article&nbsp;Fourth of this Certificate of Incorporation; and the term
&#147;Voting Stock&#148; shall mean all Capital Stock which by its terms may
be voted on all matters submitted to stockholders of the
Corporation generally.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;The term &#147;Significant Holder&#148; shall mean any person
(other than the Corporation or any Subsidiary and other than any
profit-sharing, employee stock ownership or other employee benefit
plan of the Corporation or any Subsidiary or any trustee of or
fiduciaries with respect to any such plan when acting in such
capacity) who, individually or as a member of a group within the
meaning of Rule&nbsp;13d-5 under the Act, is the beneficial owner of
Voting Stock representing twenty percent (20%) or more of the votes
entitled to be cast by the holders of all then outstanding shares
of Voting Stock;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;A person shall be a &#147;beneficial owner&#148; of any Capital
Stock (A)&nbsp;which such person or any of its Controlled or Controlling
Affiliates owns, directly or indirectly; (B)&nbsp;which such person or
any of its Controlled or Controlling Affiliates has, directly or
indirectly, (1)&nbsp;the right to acquire (whether such right is
exercisable immediately or subject only to the passage of time),
pursuant to any agreement, arrangement or understanding or upon the
exercise of conversation rights, exchange rights, warrants or
options or otherwise, or (2)&nbsp;the right to vote pursuant to any
agreement, arrangement or understanding; or (C)&nbsp;which are owned,
directly or indirectly, by any other person with which such person
or any of its Controlled or Controlling Affiliates has any
agreement, arrangement or understanding for the purpose of
acquiring, holding, voting or disposing of any shares of Capital
Stock. For the purposes of determining whether a person is a
Significant Holder pursuant to paragraph (c)(iv) of this Article
Twelfth or a Controlled or Controlling Affiliate pursuant to
paragraph (c)(vi) of this Article&nbsp;Twelfth, the number of shares of
Capital Stock deemed to be</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">10</FONT>
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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">outstanding shall include shares deemed beneficially owned by
such person through application of this paragraph (c)(v) of this
Article&nbsp;Twelfth, but shall not include any other shares of Capital
Stock that may be issuable pursuant to any agreement, arrangement
or understanding, or upon exercise of conversion rights, warrants
or options, or otherwise.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;The term &#147;Controlled or Controlling Affiliate&#148; shall mean
with respect to a specified person, a person that directly or
indirectly through one or more intermediaries, controls or is
controlled by, or is under common control with, the person
specified; provided that the Corporation and its Subsidiaries shall
not, and the executive officers or directors of the Corporation or
any of its Subsidiaries shall not, solely as a result of holding
such office, be deemed a &#147;Controlled or Controlling Affiliate&#148; of a
Significant Holder; and provided, further, that for purposes of
this definition, the term &#147;control&#148; (including the terms
&#147;controlling,&#148; &#147;controlled by&#148; and &#147;under common control with&#148;)
shall mean the possession direct or indirect, of the power to
direct or cause the direction of the management and policies of a
person through the ownership of more than fifty percent (50%) of
the voting securities of such person or the ability to otherwise
designate a majority of the board of directors or managers of such
person.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;The term &#147;Subsidiary&#148; means any company or other entity
of which a majority of any class of equity security is beneficially
owned by the Corporation; <U>provided</U>, <U>however</U>, that for the purposes
of the definition of Significant Holder set forth in paragraph
(c)(iv) of this Article&nbsp;Twelfth, the term &#147;Subsidiary&#148; shall mean
only a company of which a majority of each class of equity security
is beneficially owned by the Corporation.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;The term &#147;Five Percent Holder&#148; means any person (other
than the Corporation or any Subsidiary and other than any
profit-sharing, employee stock ownership or other employee benefit
plan of the Corporation or any Subsidiary or any trustee of or
fiduciaries with respect to any such plan when acting in such
capacity) who, as of the record date (if any) established for any
applicable transaction or vote (or if there is no record date, as
of the date of consummation of the transaction) and based on the
most recent reports or disclosures filed publicly under the Act,
individually or as a member of a group within the meaning of Rule
13d-5 under the Act, is the beneficial owner of Voting Stock
representing five percent (5%) or more of the votes entitled to be
cast by the holders of all then outstanding shares of Voting Stock;
provided that for purposes of this definition only, a person who
reports or discloses beneficial ownership as a member of a group or
by virtue of a relationship with other persons with respect to the
Voting Stock, shall not be deemed to beneficially own any shares of
Voting Stock held by persons beneficially owning Voting Stock
representing two percent (2%) or less of the votes entitled to be
cast by the holders of all then outstanding shares of Voting Stock
and any such person beneficially owning Voting Stock representing
two percent (2%) or less of the votes entitled to be cast by the
holders of all then outstanding shares of Voting</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">11</FONT>
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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">Stock shall not be deemed a Five Percent Holder or otherwise
be entitled to exercise any rights of a Five Percent Holder.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;The term &#147;Related Party&#148; means, in connection with any
Related Party Transaction, any person who at any time during the
eighteen (18)&nbsp;month period preceding such Related Party Transaction
constituted a Significant Holder.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;The term &#147;entire Board of Directors&#148; as used in this
Article&nbsp;Twelfth and in this Restated Certificate of Incorporation,
generally, means the total number of directors of the Corporation
then holding office and entitled to vote.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp; The Board of Directors shall for purposes of this Article&nbsp;Twelfth be
entitled to rely on information contained in the most recent disclosures filed
publicly under the Act as to (i)&nbsp;whether a person is a Significant Holder, (ii)
the number of shares of Capital Stock or other securities beneficially owned by
any person, and (iii)&nbsp;whether a person is a Controlled or Controlling Affiliate
of another. Any such decision made in good faith on such basis shall be
conclusive. Any persons deemed Significant Holders or Five Percent Holders
solely by virtue of being a member of a group or having a relationship with
other persons, which membership or relationship is described in disclosures
filed publicly under the Act, shall at the request of the Corporation, select
one designee to act on their behalf with respect to any rights or obligations
hereunder.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the corporation has caused this Restated Certificate
of Incorporation to be signed by Larry Enterline, its Chief Executive Officer,
this 1st day of August, 2003.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left" valign="top"><FONT size="2">PERSONNEL GROUP OF AMERICA, INC.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ Larry Enterline</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Larry Enterline</FONT></TD>
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<P align="center"><FONT size="2">12</FONT>




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