Exhibit 10.1

AMENDMENT NO. 4 TO CREDIT AGREEMENT
This AMENDMENT NO. 4 TO CREDIT AGREEMENT ("Amendment") is dated as of
February 19, 2016, and is entered into by and among PERFORMANT BUSINESS
SERVICES, INC. (formerly known as DCS Business Services, Inc.), a Nevada
corporation ("Borrower"), the Lenders (as defined in the Credit Agreement as
hereafter defined) party hereto, and MADISON CAPITAL FUNDING LLC, as Agent for
all Lenders.
W I T N E S S E T H:
WHEREAS, Borrower, Agent and the Lenders from time to time party thereto are
parties to that certain Credit Agreement dated as of March 19, 2012 (as the same
has been or may be from time to time amended, restated, supplemented or
otherwise modified, the "Credit Agreement"; capitalized terms not otherwise
defined herein have the definitions provided therefor in the Credit Agreement,
as amended hereby); and
WHEREAS, Borrower, Agent and Required Lenders have agreed to amend the Credit
Agreement in certain respects, in each case subject to the terms and conditions
set forth herein;
NOW THEREFORE, in consideration of the mutual conditions and agreements set
forth in the Credit Agreement and this Amendment, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:
1.    Amendments to the Credit Agreement. Subject to the satisfaction of the
conditions set forth in Section 2 below, and in reliance on the representations
and warranties set forth in Section 3 below, the Credit Agreement is hereby
amended as follows:
(a)    Section 1.1 of the Credit Agreement is amended by inserting new defined
terms "Cash Reserve Account", "Cash Reserve Account Release Date", "Fourth
Amendment Closing Date", "June 30, 2017 Compliance Date" and "Permitted DOE
Addbacks" in their appropriate alphabetical order therein as follows:
Cash Reserve Account means the deposit account established in the name of
Borrower at Wells Fargo Bank, National Association after February 1, 2016 (or
such other deposit account as may be approved in writing by Agent following the
Fourth Amendment Closing Date in its sole discretion as the Cash Reserve
Account) for purposes of Section 6.11 of this Agreement.
Cash Reserve Account Release Date means the date upon which either (x) all funds
in the Cash Reserve Account are received by Agent for application to the Term
Loans in accordance with the terms of Section 6.11, or (y) Agent and Required
Lenders consent to the release of all of the funds in the Cash Reserve Account
to Borrower or another Loan Party pursuant to Section 6.11.
Fourth Amendment Closing Date means February 19, 2016.

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June 2017 Compliance Date means the date (if any) upon which the Borrower
delivers to Agent financial statements in respect of the Fiscal Quarter ending
June 30, 2017 pursuant to Section 6.1.2 together with a Compliance Certificate
in respect of such period pursuant to Section 6.1.3 that demonstrates compliance
with each of the financial ratios and restrictions set forth in Sections 7.14.2,
7.14.4, 7.14.5 and 7.14.6 for such period and certifies that no other Default or
Event of Default has occurred and is continuing as of the date of delivery of
such Compliance Certificate.
Permitted DOE Addbacks means, in respect of any fiscal month commencing with the
first fiscal month in respect of which Borrower elects (subject to the
requirements set forth below) to add amounts set forth and in accordance with
the below to Consolidated Net Income for purposes of the calculation of EBITDA,
direct costs of the Loan Parties incurred following the Fourth Amendment Closing
Date in connection with the start up of a new Department of Education contract
that may be entered into by one or more of the Loan Parties with the Department
of Education following the Fourth Amendment Closing Date (to the extent in any
month in excess of the revenue of the Loan Parties received under such contract
during such month) that are incurred in connection with the Loan Parties' work
as a prime contractor under such contract (excluding any overhead or shared cost
allocations that are not directly related to such contract) that (x) are
accompanied by supporting detail provided to Agent and are subject to the review
and reasonable approval of Agent, (y) are in an amount not in excess of
$1,400,000 in any calendar month, and (z) are incurred in the 9 consecutive
month period commencing on the first day of the first fiscal month in respect of
which Borrower elects to add Permitted DOE Addbacks to Consolidated Net Income
for purposes of the calculation of EBITDA.
(b)    Section 1.1 of the Credit Agreement is amended by deleting the definition
of the term "December 2016 Compliance Date" therefrom in its entirety.
(c)    Section 1.1 of the Credit Agreement is amended by amending and restating
the definition of the term "Adjusted Cash" set forth therein in its entirety as
follows:
Adjusted Cash means, as of any date of determination, the sum of (i) cash and
Cash Equivalents of Borrower and its Subsidiaries that are Guarantors maintained
in bank accounts (including, for the avoidance of doubt, the Cash Reserve
Account) that are subject to a tri-party control agreement satisfactory to Agent
in favor of Agent, minus (ii) the Revolving Outstandings as of such date of
determination.
(d)    Section 1.1 of the Credit Agreement is amended by amending and restating
the definition of the term "Applicable Margin" set forth therein in its entirety
as follows:
Applicable Margin means the applicable rate per annum set forth below:

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Revolving Loans
and Term A Loan
Term B Loan
Base Rate
LIBOR Rate
Base Rate
LIBOR Rate
5.75%
6.75%
6.25%
7.25%

With respect to the Incremental Term Loans funded after the Fourth Amendment
Closing Date, a percent per annum set forth in the applicable Incremental
Amendment.
(e)    Section 1.1 of the Credit Agreement is amended by amending the definition
of the term "EBITDA" set forth therein by (i)  deleting the "and" following
clause (xviii) thereof, (ii) replacing the "." at the end of clause (xix)
thereof with ", and", and (iii) inserting new clause (xx) and (xxi) immediately
after clause (xix) thereof as follows:
(xx) costs, fees or expenses incurred in connection with the Amendment No. 4 to
Credit Agreement dated as of the Fourth Amendment Closing Date , and (xxi)
Permitted DOE Addbacks.
(f)    Section 1.1 of the Credit Agreement is amended by amending and restating
the definition of the term "Required Adjusted Cash Amount" in its entirety as
follows:
Required Adjusted Cash Amount means, at all times from and after the Fourth
Amendment Closing Date until September 30, 2016, $10,000,000.
(g)    Section 1.1 of the Credit Agreement is amended by amending and restating
the definition of the term "Total Debt to EBITDA Ratio" set forth therein in its
entirety as follows:
Total Debt to EBITDA Ratio means as of the last day of any Fiscal Quarter, the
ratio of (a) Total Debt as of such day (minus, solely as of the last day of
Fiscal Quarters ending prior to the Cash Reserve Account Release Date (but in no
event in respect of any Fiscal Quarter ending after June 30, 2017), the lesser
of (x) $7,500,000 and (y) the amount of cash on deposit in the Cash Reserve
Account) to (b) Adjusted EBITDA for the Computation Period ending on such day.
(h)    Section 6.1.3 of the Credit Agreement is amended by replacing the
reference to "(provided that Compliance Certificates shall also be required to
be delivered contemporaneously with each set of financial statements pursuant to
Section 6.1.2 for months that do not correspond to the last month of a Fiscal
Quarter with respect to the financial statements for all months ending from
November 30, 2014 through and including December 31, 2016)" set forth therein
with a reference to "(provided that Compliance Certificates shall also be
required to be delivered contemporaneously with each set of financial statements
pursuant to Section 6.1.2 for months that do not correspond to the last month of
a Fiscal Quarter with respect to the financial statements for all months ending
from November 30, 2014 through and including June 30, 2016)".

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(i)    Section 6.10 of the Credit Agreement is amended and restated in its
entirety as follows:
6.10.    Maintenance of Minimum Cash Balance.
At all times (other than a period of not more than three consecutive Business
Days) until September 30, 2016, Borrower and its Subsidiaries that are
Guarantors shall maintain Adjusted Cash equal to at least the then applicable
Required Adjusted Cash Amount; provided, however, that the three (3) Business
Day cure period set forth above may not be utilized by Borrower more than two
(2) times in any Fiscal Quarter. Borrower shall certify to Agent that it has
been in compliance with this covenant at all times during the relevant period
with each set of financial statements delivered by Borrower pursuant to Section
6.1.2 with respect to periods ending on or prior to September 30, 2016, and
shall provide certification and, to the extent requested by Agent, calculations
and evidence demonstrating the same, of compliance with this covenant at such
additional times that Agent may request such calculations in its discretion.
(j)    A new Section 6.11 is inserted at the end of Article 6 of the Credit
Agreement as follows:
6.11.    Cash Reserve Account.
At all times from the Fourth Amendment Closing Date until the Cash Reserve
Account Release Date, Borrower shall maintain on deposit at least $7,500,000 in
immediately available funds in the Cash Reserve Account, shall at all times
prior to the Cash Reserve Account Release Date maintain the Cash Reserve Account
and not use the Cash Reserve Account for any purpose other than holding the
funds described above, and shall at all times until the Cash Reserve Account
Release Date cause the Cash Reserve Account to be subject to a deposit account
control agreement among Borrower, Agent and the depositary bank at which the
Cash Reserve Account is established pursuant to which the Cash Reserve Account
is under the sole dominion and control of Agent. Absent the consent of Agent and
Required Lenders to the contrary following the Fourth Amendment Closing Date
(which may be given or withheld in their sole discretion), upon the earlier of
(x) September 30, 2016 (or such later date not more than thirty (30) days
thereafter as may be agreed by Agent in its sole discretion) and (y) the
occurrence and continuation of an Event of Default on or after the Fourth
Amendment Closing Date (or Agent or Borrower acquiring knowledge following the
Fourth Amendment Closing Date of any Event of Default that was in existence on
or prior to the Fourth Amendment Closing Date), Borrower authorizes Agent to
direct the depository bank at which the Cash Reserve Account is established to
remit all funds therein to Agent (and shall take any action that may be
requested by Agent (including issuing its own direction to depository bank to
remit such funds to Agent) in order to cause such funds to be remitted to Agent)
for application to the Term Loans as a voluntary prepayment

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thereof, to be applied (i) pro rata to the then outstanding principal amount of
the Term A Loans and Term B Loans, and (ii) as to the amounts applied to the
Term A Loans and Term B Loans, be applied to the scheduled installments thereof
in the inverse order of maturity (provided, for the avoidance of doubt, that if
Agent receives the funds from the Cash Reserve Account following the occurrence
of an Acceleration Event, such funds shall instead be applied in accordance with
Section 2.12.2(b)). If, in connection with the award of a Department of
Education Contract to a Loan Party, or otherwise, Agent and Required Lenders
agree in their sole discretion following the Fourth Amendment Closing Date that
all or a portion of the funds then on deposit in the Cash Reserve Account may be
released to the Borrower, then Agent shall direct the depositary bank in respect
of the Cash Reserve Account to remit such funds to the Borrower or another Loan
Party at a deposit account mutually agreed by Agent and Borrower (and, to the
extent that Agent and Required Lenders agree in their sole discretion that all
funds may be released to the Borrower, following the release of all funds
therefrom Agent shall authorize the termination of the deposit account control
agreement in respect of the Cash Reserve Account and concurrently therewith
Borrower shall cause the Cash Reserve Account to be closed).
(k)    Section 7.5(a) of the Credit Agreement is amended by replacing the
reference to "December 2016 Compliance Date" set forth therein with a reference
to "June 2017 Compliance Date".
(l)    Section 7.14.1 of the Credit Agreement is amended and restated in its
entirety as follows:
7.14.1.    Fixed Charge Coverage Ratio.
Not permit the Fixed Charge Coverage Ratio as calculated on the last day of the
Computation Period ending September 30, 2017 and the last day of each
Computation Period ending thereafter, to be less than 1.20:1.0.
(m)    Section 7.14.2. of the Credit Agreement is amended and restated in its
entirety as follows:
7.14.2    Total Debt to EBITDA Ratio.
Not permit the Total Debt to EBITDA Ratio as of the last day of any Computation
Period to exceed the applicable ratio set forth below for such Computation
Period:

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Computation 
Period Ending
Total Debt to 
EBITDA Ratio
December 31, 2015
5.00:1.0
March 31, 2016, June 30, 2016, September 30, 2016 December 31, 2016, March 31,
2017 and June 30, 2017
4.75:1.0
September 30, 2017 and each Computation Period ending thereafter

3.25:1.0

(n)    Section 7.14.3 of the Credit Agreement is amended by amending and
restating clause (d) thereof in its entirety as follows:
(d)    Notwithstanding anything to the contrary set forth in this Agreement,
Borrower may not utilize the equity cure right set forth in this Section 7.14.3
with respect to any Computation Period ending prior to the Computation Period
ending December 31, 2017.
(o)    Section 7.14.4 of the Credit Agreement is amended and restated in its
entirety as follows:
7.14.4.    Interest Coverage Ratio.
Not permit the Interest Coverage Ratio for any Computation Period set forth
below to be less than the applicable ratio set forth below for such Computation
Period:
Computation 
Period Ending
Interest 
Coverage Ratio
December 31, 2015
2.25:1.0
March 31, 2016, June 30, 2016 and September 30, 2016
2.50:1.0
December 31, 2016
2.00:1.0
March 31, 2017 and June 30, 2017
1.75:1.0

(p)    Section 7.14.5. of the Credit Agreement is amended by replacing the
reference to "through and including the month ending on December 31, 2016" set
forth therein with a reference to "through and including the month ending on
June 30, 2016".
(q)    Section 7.14.6. of the Credit Agreement is amended and restated in its
entirety as follows:
7.14.6    Capital Expenditures.
Not permit the aggregate amount of all Capital Expenditures made by Holdings and
its Subsidiaries in the Fiscal Year ending December 31, 2015 to

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exceed $12,500,000, and not permit the aggregate amount of all Capital
Expenditures made by Holdings and its Subsidiaries in the Fiscal Year ending
December 31, 2016 and in the Fiscal Year ending December 31, 2017 to exceed
$8,000,000.
(r)    Section 8.1.4 of the Credit Agreement is amended by inserting a reference
to ", 6.11" immediately following the reference to "6.10" and prior to the
reference to "and Section 7" set forth therein.
2.    Conditions to Effectiveness of Amendment. The effectiveness of this
Amendment is subject to satisfaction of the following conditions precedent:
(a)    Agent shall have received a copy of this Amendment (including the Consent
and Reaffirmation attached hereto), executed by Borrower, each Loan Party and
Required Lenders;
(b)    No Default or Event of Default shall have occurred and be continuing as
of the date of this Amendment;
(c)    On a date following February 12, 2016, Borrower shall have made (and
Agent shall have received in immediately available funds) a voluntary prepayment
of the Term Loans in an amount equal to $22,500,000, which $22,500,000 voluntary
prepayment of the Term Loans shall (i) be applied pro rata to the then
outstanding principal amount of the Term A Loans and Term B Loans, and (ii) as
to the amounts applied to the Term A Loans and Term B Loans, be applied to the
scheduled installments thereof in the inverse order of maturity;
(d)    Agent shall have received the Amendment Fee (as defined below) for the
benefit of the applicable Lenders, and Borrower shall have paid all other fees
and expenses (including fees and expenses of counsel to the extent invoiced) of
Agent due and payable as of the date hereof in connection with this Amendment,
the Credit Agreement and the other Loan Documents; and
(e)    Agent shall have received evidence satisfactory to Agent that the Cash
Reserve Account has been established by Borrower and has been funded with
$7,500,000 in immediately available funds, and Borrower, Agent and Wells Fargo
Bank, National Association shall (unless Agent shall agree in writing in its
sole discretion in a post-closing letter executed between Borrower and Agent
prior to the effectiveness of this Amendment that such requirement shall be
satisfied by Borrower on a post-closing basis on terms acceptable to Agent,
which would include that failure to obtain such deposit account control
agreement within the time period agreed therein (as such period may be extended
by Agent in its sole discretion) would constitute an Event of Default) that such
deposit account control agreement may be obtained following the effectiveness of
this Amendment) have entered into a deposit account control agreement in form
and substance satisfactory to Agent granting Agent sole dominion and control
over the Cash Reserve Account.

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3.    Representations and Warranties. To induce Agent and the Required Lenders
to enter into this Amendment, Borrower represents and warrants to Agent and
Lenders that:
(a)    the execution, delivery and performance of this Amendment has been duly
authorized by all requisite corporate action on the part of Borrower and each
other Loan Party and that this Amendment has been duly executed and delivered by
Borrower and each other Loan Party;
(b)    this Amendment and the Borrower's obligations under the Credit Agreement
as amended hereby constitute the legal, valid and binding obligation of Borrower
and are enforceable against Borrower in accordance with its terms, subject to
bankruptcy, insolvency and similar laws affecting the enforceability of
creditor's rights generally and to general principles of equity;
(c)    the execution and delivery by Borrower and the other Loan Parties of this
Amendment does not require the consent or approval of any Person, except such
consents and approvals as have been obtained;
(d)    after giving effect to this Amendment, the representations and warranties
of Borrower and each other Loan Party set forth in the Credit Agreement and the
other Loan Documents are true and correct in all material respects with the same
effect as if made on the date hereof (except to the extent such representations
and warranties are stated to relate to a specific earlier date, in which case
such representations and warranties are true and correct in all material
respects as of such earlier date);
(e)    no Default or Event of Default has occurred and is continuing; and
(f)    Borrower has established the Cash Reserve Account as a new deposit
account of the Borrower that is not used for any purposes other than as set
forth in Section 6.11 of the Credit Agreement (as amended hereby), and has
funded the Cash Reserve Account with $7,500,000 in immediately available funds
on or prior to the date hereof.
4.    Severability. Any provision of this Amendment held by a court of competent
jurisdiction to be invalid or unenforceable shall not impair or invalidate the
remainder of this Amendment and the effect thereof shall be confined to the
provision so held to be invalid or unenforceable.
5.    References. Any reference to the Credit Agreement contained in any
document, instrument or Credit Agreement executed in connection with the Credit
Agreement shall be deemed to be a reference to the Credit Agreement as modified
by this Amendment.
6.    Amendment Fee. In consideration of the agreements set forth herein, upon
the effectiveness of this Amendment in accordance with, and subject to all of
the conditions specified in Section 2 hereof (other than Section 2(d)), Borrower
agrees to pay to Agent, for the ratable benefit of the respective Lenders that
executed and sent signature pages to this Amendment to the Agent (including
pages that were delivered in escrow) on or before 5:00

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p.m. (Chicago time) on February 18, 2016 (such Lenders, the "Consenting
Lenders"), an amendment fee equal to 0.25% of the sum of the Revolving Loan
Commitments and outstanding principal amount of the Term Loans of the Consenting
Lenders as of the date hereof (after giving effect to the $22,500,000 prepayment
of the Term Loans to be made by Borrower on the date hereof pursuant to Section
2(c) above).
7.    Counterparts; Electronic Transmission. This Amendment may be executed in
one or more counterparts, each of which shall constitute an original, but all of
which taken together shall be one and the same instrument. Facsimile signatures
and other electronic signatures shall also constitute originals.
8.    Release.
(a)    In consideration of the agreements of Agent and Lenders contained herein
and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, each of Borrower and each other Loan Party (by
such other Loan Party's execution and delivery of the attached Consent and
Reaffirmation), on behalf of itself and its successors, assigns, and other legal
representatives, hereby absolutely, unconditionally and irrevocably releases,
remises and forever discharges Agent and Lenders, and their successors and
assigns, and their present and former shareholders, affiliates, subsidiaries,
divisions, predecessors, directors, officers, attorneys, employees, agents and
other representatives (Agent, each Lender and all such other Persons being
hereinafter referred to collectively as the "Releasees" and individually as a
"Releasee"), of and from all demands, actions, causes of action, suits,
covenants, contracts, controversies, agreements, promises, sums of money,
accounts, bills, reckonings, damages and any and all other claims,
counterclaims, defenses, rights of set‑off, demands and liabilities whatsoever
(individually, a "Claim" and collectively, "Claims") of every name and nature,
known or unknown, suspected or unsuspected, both at law and in equity, Borrower
or such Loan Party or any of their successors, assigns, or other legal
representatives may now or hereafter own, hold, have or claim to have against
the Releasees or any of them for, upon, or by reason of any circumstance,
action, cause or thing whatsoever which arises at any time on or prior to the
day and date of this Amendment, for or on account of, or in relation to, or in
any way in connection with any of the Credit Agreement, or any of the other Loan
Documents or transactions thereunder or related thereto.
(b)    Each of Borrower and each other Loan Party understands, acknowledges and
agrees that the release set forth above may be pleaded as a full and complete
defense and may be used as a basis for an injunction against any action, suit or
other proceeding which may be instituted, prosecuted or attempted in breach of
the provisions of such release.
(c)    Each of Borrower and each other Loan Party agrees that no fact, event,
circumstance, evidence or transaction which could now be asserted or which may
hereafter be discovered shall affect in any manner the final, absolute and
unconditional nature of the release set forth herein.
9.    Ratification. The terms and provisions set forth in this Amendment shall
modify and supersede all inconsistent terms and provisions of the Credit
Agreement and shall not be deemed to be a consent to the modification or waiver
of any other term or condition of

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the Credit Agreement. Except as expressly modified and superseded by this
Amendment, the terms and provisions of the Credit Agreement and each of the
other Loan Documents are ratified and confirmed and shall continue in full force
and effect.
10.    For purposes of determining withholding Taxes imposed under FATCA, from
and after the effective date of this Amendment, the Borrower and the Agent shall
treat (and the Lenders hereby authorize the Agent to treat) the Credit Agreement
as not qualifying as a "grandfathered obligation" within the meaning of Treasury
Regulation Section 1.1471-2(b)(2)(i).
11.    Governing Law. THIS AGREEMENT SHALL BE A CONTRACT MADE UNDER AND GOVERNED
BY THE INTERNAL LAWS OF THE STATE OF ILLINOIS APPLICABLE TO CONTRACTS MADE AND
TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO CONFLICT OF LAWS
PRINCIPLES.
[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed under seal and delivered by their respective duly authorized officers
on the date first written above.
PERFORMANT BUSINESS SERVICES, INC.
(formerly known as DCS Business Services, Inc.) 

 
By: /s/ Hakan Orvell    
Name: Hakan Orvell
Title: CFO

Signature Page to Amendment No. 4 to Credit Agreement

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MADISON CAPITAL FUNDING LLC,
as Agent and a Lender 

 
By: /s/ Craig Dugan    
Name:Craig Dugan
Title:VP

Signature Page to Amendment No. 4 to Credit Agreement

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Amalgamated Bank,
as a Lender  
 
 
By: /s/ Melony Heh    
Name: Melony Heh
Title: Vice President

Signature Page to Amendment No. 4 to Credit Agreement

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AUDAX CREDIT OPPORTUNITIES (SBA), LLC.,
as a Lender  
 
 
By: /s/ Michael P. McGonigle    
Name: Michael P. McGonigle
Title: Authorized Signatory

AUDAX CREDIT OPPORTUNITIES OFFSHORE LTD.,
as a Lender  
 
 
By: /s/ Michael P. McGonigle    
Name: Michael P. McGonigle
Title: Authorized Signatory

AUDAX SENIOR DEBT (WCTPT) SPV, LLC,
as a Lender  
 
 
By: /s/ Michael P. McGonigle    
Name: Michael P. McGonigle
Title: Authorized Signatory

A CMFG LIFE INSURANCE COMPANY, 
as a Lender
Audax Management Company (NY), LLC, 
its subadviser,  
 
 
By: /s/ Michael P. McGonigle    
Name: Michael P. McGonigle
Title: Authorized Signatory

Signature Page to Amendment No. 4 to Credit Agreement

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MC Funding, Ltd

By: Monroe Capital Management, LLC, as Collateral Manager 
 
By: /s/ Jeffrey Willians    
Name: Jeffrey Willians
Title: Director

Signature Page to Amendment No. 4 to Credit Agreement

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PENNANTPARK FLOATING RATE  
FUNDING I, LLC,
as a Lender 
 
PennantPark Floating Rate Capital Ltd., as Designated Manager
By: /s/ Arthur H. Penn 
Name:Arthur H. Penn
Title: Chief Executive Officer

Signature Page to Amendment No. 4 to Credit Agreement

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BancAlliance Inc. 
By: AP Commercial LLC, its attorney-in-fact, 
as a Lender  
 
 
By: /s/ John Gray    
Name: John Gray
Title: Executive Vice President

Signature Page to Amendment No. 4 to Credit Agreement

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NEWSTAR COMMERCIAL LOAN FUNDING 2012-2 LLC, as a Lender
 
By: NewStar Financial, Inc., its Designated Manager 
 
By: /s/ Andres Alev    
Name Andres Alev
Title: Director

NEWSTAR COMMERCIAL LOAN FUNDING 2014-1 LLC, as a Lender
 
By: NewStar Financial, Inc., its Designated Manager 
 
By: /s/ Andres Alev    
Name Andres Alev
Title: Director

Signature Page to Amendment No. 4 to Credit Agreement

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MCF CLO IV LLC
as a Lender

By: MCF Capital Management LLC, as collateral manager
 
 
By: /s/ Ashish Shah          
Name: Ashish Shah
Title: Director

Signature Page to Amendment No. 4 to Credit Agreement

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MCF CLO II LLC
as a Lender

By: MCF Capital Management LLC, as collateral manager
 
 
By: /s/ Ashish Shah          
Name: Ashish Shah
Title: Director

Signature Page to Amendment No. 4 to Credit Agreement

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MCF CLO I LLC,
as a Lender
By: MCF Capital Management LLC, as collateral manager
 
 
By: /s/ Ashish Shah          
Name: Ashish Shah
Title: Director

Signature Page to Amendment No. 4 to Credit Agreement

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ING CAPITAL LLC,
as a Lender

 
By: /s/ Marilyn Densel Fulton  
Name Marilyn Densel Fulton
Title: Managing Director 
 
 
By: /s/ Naresh Purohit 
Name Naresh Purohit
Title: Vice President

Signature Page to Amendment No. 4 to Credit Agreement

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Saratoga Investment Corp CLO 2013-1, Ltd.,
as a Lender  
 
 
By: /s/ Pavel Antonov    
Name: Pavel Antonov
Title: Attorney In Fact

Signature Page to Amendment No. 4 to Credit Agreement

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FTP Credit Holdings LLC, 
as a Lender
 
By: /s/ Steve McLaughlin    
Name Steve McLaughlin
Title: President and Secretary

Signature Page to Amendment No. 4 to Credit Agreement

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CONSENT AND REAFFIRMATION
Each of Performant Financial Corporation, Performant Recovery, Inc. (formerly
known as Diversified Collection Services, Inc.) and Performant Technologies,
Inc. (formerly known as Vista Financial, Inc.) (collectively, the "Companies")
hereby (i) acknowledges receipt of a copy of the foregoing Amendment No. 4 to
Credit Agreement dated as of February 19, 2016 (the "Amendment"); (ii) consents
to Borrower's execution and delivery of the Amendment and the consummation of
the transactions contemplated thereby; (iii) agrees to be bound by the Amendment
(including by Section 8 of the Amendment); (iv) affirms that nothing contained
in the Amendment shall modify in any respect whatsoever any Loan Document to
which it is a party; and (v) reaffirms that such Loan Documents shall continue
to remain in full force and effect and that its guaranty of the Obligations and
grant of security interests in its assets to secure such guaranty of the
Obligations shall remain in effect in all respects. Although the Companies have
been informed of the matters set forth herein and has acknowledged and agreed to
same, each of the Companies understands that Agent and Lenders have no
obligation to inform either Company of such matters in the future or to seek
acknowledgment of either Company or agreement to future amendments, waivers or
consents, and nothing herein shall create such a duty.
IN WITNESS WHEREOF, the parties hereto have caused this Consent and
Reaffirmation to be duly executed under seal and delivered by their respective
duly authorized officers on and as of the date of the Amendment.
[Signature Page Follows]

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PERFORMANT FINANCIAL CORPORATION 

By: /s/ Hakan Orvell    
Name: Hakan Orvell
Title: CFO

PERFORMANT RECOVERY, INC.
(formerly known as Diversified Collection Services, Inc.) 

By: /s/ Hakan Orvell    
Name: Hakan Orvell
Title: CFO

PERFORMANT TECHNOLOGIES, INC. (formerly known as Vista Financial, Inc.)  

By: /s/ Hakan Orvell    
Name: Hakan Orvell
Title: CFO 

Signature Page to Consent and Reaffirmation –Amendment No. 4 to Credit Agreement

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Exhibit B
Form of Compliance Certificate
Please refer to the Credit Agreement dated as of March 19, 2012 (as amended,
restated, amended and restated, supplemented or otherwise modified from time to
time, the "Credit Agreement"), by and among the undersigned ("Borrower"), the
lenders party thereto from time to time, as Lenders, and Madison Capital Funding
LLC, as administrative agent ("Agent"). This certificate (this "Certificate"),
together with supporting calculations attached hereto, is delivered to Agent and
Lenders pursuant to the terms of the Credit Agreement. Terms used but not
otherwise defined herein are used herein as defined in the Credit Agreement.
[Enclosed herewith is a copy of the [annual audited/quarterly/monthly] report of
Borrower as at ________________ (the "Computation Date"), which report fairly
presents in all material respects the financial condition and results of
operations [(subject to the absence of footnotes and to normal year-end
adjustments)] of Borrower as of the Computation Date and has been prepared in
accordance with GAAP consistently applied.]
Borrower hereby certifies and warrants that the computations set forth on the
schedule attached hereto correspond to the ratios contained in the Credit
Agreement and such computations are true and correct as at the [Computation
Date] [date hereof, after giving pro forma effect to the Acquisition (and
related Loans) pursuant to which this certificate is delivered].
Borrower further certifies that no Event of Default or Default has occurred and
is continuing as of the date hereof [except as described on the Schedule
attached hereto].
PERFORMANT BUSINESS SERVICES, INC.
(formerly known as DCS Business Services, Inc.) 

 
By:
Title:

B-1

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Schedule to Compliance Certificate
Dated as of _________________

A. Section 7.14.1 - Minimum Fixed Charge Coverage Ratio
 
1. Consolidated Net Income
$________
 
2. Plus: Losses from Dispositions, extraordinary items, discontinued operations,
reappraisal, revaluation or write-down of assets 
   interest expense and the Agent's fee 
   income tax expense 
   depreciation 
   amortization 
   charges for impairment of goodwill and 
     other intangibles 
   management fees and reimbursable expenses 
   amortization of debt discounts and commissions
$________
$________
$________
$________
$________

$________
$________

$________
 
3. Plus: Transaction fees and expenses in connection with this agreement 
   Non-cash expenses in connection with 
   options, deferred compensation and stock options
$________

$________
 
Transaction Fees in connection with Permitted Acquisitions and Investments
permitted under Sections 7.11(q) and 7.11(s)
$________
 
Transaction fees and expenses in connection with a successful Qualified IPO
$________
 
Transaction fees and expenses in connection with an unsuccessful Qualified IPO
$________
 
Costs and expenses related to Permitted Debt or equity issuances
$________
 
Non-cash expenses in the form of options granted to Borrower or Holdings and
other non-cash expense with respect to deferred compensation and stock options
$________
 
severance expenses approved by the Agent
$________
 
business interruption insurance proceeds
$________
 
Non-cash adjustment to the valuation of earnout payments or other consideration
relating to Investments permitted hereunder
$________
 

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cash restructuring charges approved by the Agent in connection with Permitted
Acquisitions and Investments permitted under Sections 7.11(q) and 7.11(s)
$________
 
non-cash restructuring charges from Permitted Acquisitions or Investments
permitted under Sections 7.11(q) and 7.11(s)
$________
 
non-cash charges (or minus non-cash gains) relating to various accounting
charges
$________
 
other extraordinary costs and expenses satisfactory to Agent
$________
 
non-cash adjustments relating to earn-outs and other investment consideration
$________
 
any Cure Amount contributed pursuant to Section 7.14.3 (solely for purpose of
determining compliance with Section 7.14.1 and 7.14.2)
$________
 
the result of (a) the amount collected during such period from the Department of
Education for services performed and invoiced, but for which revenue has not yet
been recognized in Consolidated Net Income, minus (b) revenue from the
Department of Education recognized in Consolidated Net Income during such period
for which cash was received in a prior period and where revenue was not
previously recognized, all subject to the review and reasonable approval of
Agent
$________
 
CMS Settlement Addback up to $3,000,000 during term of Agreement
$_________
 
Fees, costs and expenses re Amendment No. 2
$_________
 
Fees, costs and expenses re Amendment No. 4
$_________
 
Permitted DOE Addbacks
$_________
 
4. Minus: Gains from Dispositions, extraordinary items, discontinued operations,
reappraisal, revaluation or write-up of assets
$________
 

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5. Total (EBITDA)
$________
 
6. Income taxes paid in cash (net of refunds) and tax distributions paid in cash
$________
 
7. other restricted payments made pursuant to Section 7.4 (other than restricted
payments funded from an Increase Request, Additional Subordinated Debt or a
Qualified IPO, and transaction expenses distributed pursuant to Section 7.4(iv))
$________
 
8. Unfinanced Capital Expenditures paid in cash
$________
 
9. Sum of (6), (7) and (8)
$________
 
10. Remainder of (5) minus (9)
$________
 
11. Interest Expense paid in cash
$________
 
12. Required payments of principal of Debt (including Term Loans but excluding
Revolving Loans)
$________
 
13. Scheduled installments for the purchase of licenses of software paid in cash
$________
 
14. Sum of (11), (12) and (13)
$________
 
15. Ratio of (10) to (14)
___:1.00
 
B. Section 7.14.2 - Maximum Total Debt to [Adjusted] EBITDA Ratio
 
1. Total Debt
$________
 
2. [Adjusted] EBITDA
(from Item A(5) above[, plus Pro Forma EBITDA totaling $______ in the aggregate
for all applicable Permitted Acquisitions in such period (comprising of Pro
Forma Adjusted EBITDA in the following individual amounts with respect to the
following individual Permitted Acquisitions (x) _______, $________, (y) _______,
$________ and (z) _______, $________)])
$________
 
3. Ratio of (1) to (2)
____ to 1
 
4. Maximum allowed
____ to 1
 
C. Section 7.14.4 – Minimum Interest Coverage Ratio
 
1. EBITDA (from Item [__] above)
$________
 
2. Interest Expense paid in cash
$________
 
3. Ratio of (1) to (2)
____ to 1
 
4. Minimum required
____ to 1
 

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D. Section 7.15.5 – Minimum EBITDA.
 
 
1. EBITDA (from Item [__] above)
$________
2. Minimum required
$20,000,000
E. Section 7.14.6 - Capital Expenditures
 
 
1. Capital Expenditures for the Fiscal Year
$________
 
 
2. Maximum Permitted Capital Expenditures
$8,000,000