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      &lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;&lt;b&gt;17.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Subsequent

      Events&lt;/b&gt;&lt;/font&gt;

    &lt;/p&gt;&lt;br/&gt;&lt;p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1537"&gt;

      &lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;On

      July 10, 2013, SGRP entered into the Fourth Agreement of

      Amendment to Revolving Loan and Security Agreement And Other

      Documents (the "Fourth Amendment") with Sterling National

      Bank ("Sterling"), a copy of which was attached to SGRP's

      Current Report on Form 8-K as filed with the SEC on July 15,

      2013. The Fourth Amendment amends, effective as of July 1,

      2013, the Revolving Loan and Security Agreement effective

      July 6, 2010, as amended (as amended, the "Loan Agreement"),

      among SGRP and certain of its domestic subsidiaries as

      borrowers and Sterling as Agent and Lender.&lt;/font&gt;

    &lt;/p&gt;&lt;br/&gt;&lt;p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1539"&gt;

      &lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;The

      Fourth Amendment (among other things) extended the scheduled

      term of the Loan Agreement to July 6, 2016 (with no early

      termination fee), eliminated the requirement for a "closed

      lock box" so that collections no longer automatically pay

      down the loans under the Loan Agreement (giving SGRP more

      flexibility respecting its cash flow), and reduced the

      interest rate on those loans to the Agent's floating Prime

      Rate (as defined in the Loan Agreement) minus one half of one

      percent (1/2%) per annum (which is a reduction of 0.75 % per

      annum over the previous rate), and reduced the unused line

      fee to one-eighth of one percent (0.125%) per annum (which is

      half of the previous rate of one quarter of one percent

      (0.25%)).&lt;/font&gt;

    &lt;/p&gt;&lt;br/&gt;&lt;p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1541"&gt;

      &lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;In

      July 2013, SPAR BIP, the Company&amp;#8217;s subsidiary in

      Romania ("SPAR BIP") increased its capital structure and

      issued an additional 100 common stock shares to the Company,

      its local investor and the Company's affiliate, SPAR

      InfoTech, Inc. ("SIT") As a result, the Company&amp;#8217;s

      ownership in SPAR BIP decreased from 51% to 50.5%, SIT

      acquired 0.5% of SPAR BIP, and the Company's local investor

      continues to own 49% of the outstanding capital stock of SPAR

      BIP. The Company also provided an additional loan to SPAR BIP

      for needed working capital in the amount of $150,000. The

      loan matures in 18 months and has an annual interest rate of

      6%.&lt;/font&gt;

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