X0202 4 2007-08-16 0 0001348155 Global Employment Holdings, Inc. GEYH 0001358905 Pennington Stephen C/O GLOBAL EMPLOYMENT HOLDINGS, INC. 10375 PARK MEADOWS DRIVE, SUITE 375 LONE TREE CO 80124 0 1 0 0 Pres of Staffing Services Seg. Common Stock 393740.47 D Common Stock Warrants (Right to Buy) 6.25 2006-09-29 2011-03-30 Common Stock 184 184 D Senior Secured Convertible Notes 6.25 2006-09-29 2011-03-31 Common Stock 1840 11500 D Option (Right to Buy) 5.00 2007-08-16 4 D 0 72011 0 D 2007-02-14 2017-02-13 Common Stock 72011 72011 D Option (Right to Buy) 3 2007-08-16 4 A 0 72011 0 A 2007-02-14 2017-02-13 Common Stock 72011 72011 D Option (Right to Buy) 3 2007-08-16 4 A 0 4700 0 A 2008-08-16 2017-08-15 Common Stock 4700 4700 D Includes: (i) 184 shares of common stock underlying warrants to purchase common stock, whether or not presently exercisable, (ii) 1,840 shares of common stock issuable upon conversion of convertible notes, whether or not presently convertible, and (iii) 76,711 shares of common stock underlying options to purchase common stock, whether or not presently exercisable. Acquired on this date by the reporting person, but first exercisable or convertible, as applicable, under its terms on March 31, 2006. Maturity date. The option was originally granted on February 14, 2007 and provided for vesting in three equal annual installments beginning on such date. The deemed cancellation and grant of replacement option has no effect on the vesting of the option. The issuer, for no consideration, repriced the option by lowering the exercise price from $5 to $3, the closing market price of the underlying common stock as of the date of the transaction, resulting in a deemed disposition of 72,011 options with an exercise price of $5 per share and a deemed acquisition of 72,011 options with an exercise price of $3 per share. Option was granted for no consideration. Option vests in three equal annual installments, beginning on this date. /s/ Stephen Pennington 2007-08-20