Document:

exv10w10

EXHIBIT 10.10

AMENDMENT AGREEMENT

     THIS AMENDMENT AGREEMENT (this “Agreement”) is made and entered into as of this January 21,
2010 (the “Effective Date”), by and between Duoyuan Investment Ltd., a company limited by
shares organized under the laws of British Virgin Islands with its principal office located at No.
3 Jinyuan Road, Daxing Industrial Development Zone, Beijing 102600, China (“Licensor”), and Duoyuan
Global Water Inc., a company limited by shares organized under the laws of British Virgin Islands
with its principal office located at No. 3 Jinyuan Road, Daxing Industrial Development Zone,
Beijing 102600, China (“Licensee”).

     WHEREAS, Licensor and Licensee entered into two trademark license agreements on September 17,
2008 and May 27, 2009 (the “License Agreements”); and

     WHEREAS, in order to clarify the meaning of a term used in the License Agreements, the
Licensors and Licensee are entering into this Agreement.

     NOW, THEREFORE, the parties, intending to be legally bound, hereby agree as follows:

     1. Definition of Principal Business

     For the purpose of the License Agreements and this Agreement, the term “Principal Business”
shall mean (1) research and development on and design, manufacture, assembly, distribution,
marketing and sale of environmental treatment products, and the provision of related services, (2)
business acquisitions and (3) other business that Duoyuan Global Water Inc., Duoyuan Clean Water
Technology Industries (China) Co., Ltd. and Duoyuan Water Treatment Equipment Manufacturing
(Langfang) Co., Ltd. will be engaged in subject to the prior written consent of GEEMF III HOLDINGS
MU, a private company limited by shares organized under the laws of the Republic of Mauritius.

     2. Effectiveness of the License Agreements

     All terms and conditions of the License Agreements shall remain in full force and effect.
This Agreement amends the License Agreements so far as Section 1 is concerned.

[Remainder of page intentionally blank—signature page to follow]

 

 

     IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the
date first above written.

	 	 	 	 	 
	LICENSOR:

Duoyuan Investment Ltd.

 	 	 
	By:  	/s/ Wenhua Huo
 	 	 
	Printed Name: Wenhua Guo 	 	 
	Title: Chairman 	 	 
	 
	 
	LICENSEE:

Duoyuan Global Water Inc.

 	 	 
	By:  	/s/ Wenhua Huo
 	 	 
	Printed Name: Wenhua Guo 	 	 
	Title: Chairman and Chief Executive Officerexv10w1

Exhibit 10.1

Execution Version

 

REVOLVING CREDIT AND TERM LOAN AGREEMENT

dated as of January 19, 2010

among

PRG-SCHULTZ INTERNATIONAL, INC. and PRG-SCHULTZ USA, INC.

as Borrowers

THE LENDERS FROM TIME TO TIME PARTY HERETO

and

SUNTRUST BANK,

as Administrative Agent and Issuing Bank

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I
	 	 	 	 
	 
	 	 	 	 
	DEFINITIONS; CONSTRUCTION
	 	 	1	 
	Section 1.1. Definitions
	 	 	1	 
	Section 1.2. Classifications of Loans and Borrowings
	 	 	32	 
	Section 1.3. Accounting Terms and Determination
	 	 	32	 
	Section 1.4. Terms Generally
	 	 	33	 
	 
	 	 	 	 
	ARTICLE II
	 	 	 	 
	 
	 	 	 	 
	AMOUNT AND TERMS OF THE COMMITMENTS
	 	 	33	 
	Section 2.1. General Description of Facilities
	 	 	33	 
	Section 2.2. Revolving Loans
	 	 	33	 
	Section 2.3. Procedure for Revolving Borrowings
	 	 	34	 
	Section 2.4. Intentionally Omitted
	 	 	34	 
	Section 2.5. Term Loan Commitments
	 	 	34	 
	Section 2.6. Funding of Borrowings
	 	 	34	 
	Section 2.7. Interest
	 	 	35	 
	Section 2.8. Optional Reduction and Termination of Commitments
	 	 	35	 
	Section 2.9. Repayment of Loans
	 	 	36	 
	Section 2.10. Evidence of Indebtedness
	 	 	38	 
	Section 2.11. Optional Prepayments
	 	 	38	 
	Section 2.12. Mandatory Prepayments
	 	 	39	 
	Section 2.13. Interest on Loans
	 	 	40	 
	Section 2.14. Fees
	 	 	41	 
	Section 2.15. Computation of Interest and Fees
	 	 	42	 
	Section 2.16. Inability to Determine Interest Rates
	 	 	42	 
	Section 2.17. Illegality
	 	 	43	 
	Section 2.18. Increased Costs
	 	 	43	 
	Section 2.19. Funding Indemnity
	 	 	45	 
	Section 2.20. Taxes
	 	 	45	 
	Section 2.21. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	 	 	47	 
	Section 2.22. Letters of Credit
	 	 	48	 
	Section 2.23. Intentionally Omitted
	 	 	53	 
	Section 2.24. Mitigation of Obligations
	 	 	53	 
	Section 2.25. Replacement of Lenders
	 	 	53	 
	Section 2.26. Cash Collateralization of Defaulting Lender Commitment
	 	 	54	 
	Section 2.27. Borrowers’ Agent
	 	 	55	 
	 
	 	 	 	 
	ARTICLE III
	 	 	 	 
	 
	 	 	 	 
	CONDITIONS PRECEDENT TO LOANS AND LETTERS OF CREDIT
	 	 	55	 
	Section 3.1. Conditions To Effectiveness
	 	 	55	 
	Section 3.2. Each Credit Event
	 	 	59	 

 

 

	 	 	 	 	 
	 	 	Page	 
	Section 3.3. Delivery of Documents
	 	 	60	 
	 
	 	 	 	 
	ARTICLE IV
	 	 	 	 
	 
	 	 	 	 
	REPRESENTATIONS AND WARRANTIES
	 	 	60	 
	Section 4.1. Existence; Power
	 	 	60	 
	Section 4.2. Organizational Power; Authorization
	 	 	60	 
	Section 4.3. Governmental Approvals; No Conflicts
	 	 	60	 
	Section 4.4. Financial Statements
	 	 	61	 
	Section 4.5. Litigation and Environmental Matters
	 	 	61	 
	Section 4.6. Compliance with Laws and Agreements
	 	 	61	 
	Section 4.7. Investment Company Act, Etc.
	 	 	61	 
	Section 4.8. Taxes
	 	 	62	 
	Section 4.9. Margin Regulations
	 	 	62	 
	Section 4.10. ERISA
	 	 	62	 
	Section 4.11. Ownership of Property
	 	 	62	 
	Section 4.12. Disclosure
	 	 	63	 
	Section 4.13. Labor Relations
	 	 	63	 
	Section 4.14. Subsidiaries
	 	 	63	 
	Section 4.15. Solvency
	 	 	63	 
	Section 4.16. Intentionally Omitted
	 	 	63	 
	Section 4.17. OFAC
	 	 	63	 
	Section 4.18. Patriot Act
	 	 	64	 
	 
	 	 	 	 
	ARTICLE V
	 	 	 	 
	 
	 	 	 	 
	AFFIRMATIVE COVENANTS
	 	 	64	 
	Section 5.1. Financial Statements and Other Information
	 	 	64	 
	Section 5.2. Notices of Material Events
	 	 	67	 
	Section 5.3. Existence; Conduct of Business
	 	 	68	 
	Section 5.4. Compliance with Laws, Etc.
	 	 	68	 
	Section 5.5. Payment of Obligations
	 	 	68	 
	Section 5.6. Books and Records
	 	 	68	 
	Section 5.7. Visitation, Inspection, Etc.
	 	 	68	 
	Section 5.8. Maintenance of Properties; Insurance
	 	 	69	 
	Section 5.9. Use of Proceeds and Letters of Credit
	 	 	69	 
	Section 5.10. Security Interests
	 	 	69	 
	Section 5.11. Additional Subsidiaries
	 	 	70	 
	Section 5.12. Additional Equity Pledges
	 	 	71	 
	Section 5.13. Depository and Treasury Management Relationship
	 	 	72	 
	Section 5.14. Post-Closing Deliverables
	 	 	73	 
	 
	 	 	 	 
	ARTICLE VI
	 	 	 	 
	 
	 	 	 	 
	FINANCIAL COVENANTS
	 	 	73	 
	Section 6.1. Leverage Ratio
	 	 	74	 
	Section 6.2. Fixed Charge Coverage Ratio
	 	 	74	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	Section 6.3. Minimum Consolidated Adjusted EBITDA
	 	 	74	 
	Section 6.4. Net Funded Debt Ratio
	 	 	74	 
	Section 6.5. Capital Expenditures
	 	 	74	 
	Section 6.6. Maximum Annual Transaction Value
	 	 	74	 
	 
	 	 	 	 
	ARTICLE VII
	 	 	 	 
	 
	 	 	 	 
	NEGATIVE COVENANTS
	 	 	74	 
	Section 7.1. Indebtedness and Preferred Equity
	 	 	75	 
	Section 7.2. Negative Pledge
	 	 	76	 
	Section 7.3. Fundamental Changes
	 	 	77	 
	Section 7.4. Investments, Loans, Etc.
	 	 	77	 
	Section 7.5. Restricted Payments
	 	 	79	 
	Section 7.6. Sale of Assets
	 	 	79	 
	Section 7.7. Transactions with Affiliates
	 	 	80	 
	Section 7.8. Restrictive Agreements
	 	 	80	 
	Section 7.9. Sale and Leaseback Transactions
	 	 	80	 
	Section 7.10. Hedging Transactions
	 	 	81	 
	Section 7.11. Amendment to Organizational Documents
	 	 	81	 
	Section 7.12. Intentionally Omitted
	 	 	81	 
	Section 7.13. Accounting Changes
	 	 	81	 
	Section 7.14. Lease Obligations
	 	 	81	 
	Section 7.15. Government Regulation
	 	 	81	 
	 
	 	 	 	 
	ARTICLE VIII
	 	 	 	 
	 
	 	 	 	 
	EVENTS OF DEFAULT
	 	 	82	 
	Section 8.1. Events of Default
	 	 	82	 
	 
	 	 	 	 
	ARTICLE IX
	 	 	 	 
	 
	 	 	 	 
	THE ADMINISTRATIVE AGENT
	 	 	84	 
	Section 9.1. Appointment of Administrative Agent
	 	 	84	 
	Section 9.2. Nature of Duties of Administrative Agent
	 	 	85	 
	Section 9.3. Lack of Reliance on the Administrative Agent
	 	 	85	 
	Section 9.4. Certain Rights of the Administrative Agent
	 	 	86	 
	Section 9.5. Reliance by Administrative Agent
	 	 	86	 
	Section 9.6. The Administrative Agent in its Individual Capacity
	 	 	86	 
	Section 9.7. Successor Administrative Agent
	 	 	86	 
	Section 9.8. Withholding Tax
	 	 	87	 
	Section 9.9. Administrative Agent May File Proofs of Claim
	 	 	88	 
	Section 9.10. Authorization to Execute other Loan Documents
	 	 	88	 
	 
	 	 	 	 
	ARTICLE X
	 	 	 	 
	 
	 	 	 	 
	MISCELLANEOUS
	 	 	88	 
	Section 10.1. Notices
	 	 	88	 

iii

 

	 	 	 	 	 
	 	 	Page	 
	Section 10.2. Waiver; Amendments
	 	 	91	 
	Section 10.3. Expenses; Indemnification
	 	 	92	 
	Section 10.4. Successors and Assigns
	 	 	94	 
	Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process
	 	 	97	 
	Section 10.6. WAIVER OF JURY TRIAL
	 	 	98	 
	Section 10.7. Right of Setoff
	 	 	98	 
	Section 10.8. Counterparts; Integration
	 	 	98	 
	Section 10.9. Survival
	 	 	99	 
	Section 10.10. Severability
	 	 	99	 
	Section 10.11. Confidentiality
	 	 	99	 
	Section 10.12. Interest Rate Limitation
	 	 	100	 
	Section 10.13. Waiver of Effect of Corporate Seal
	 	 	100	 
	Section 10.14. Patriot Act
	 	 	100	 
	Section 10.15. Joint and Several Liability of Borrowers
	 	 	101	 
	Section 10.16. Headings
	 	 	103	 

iv

 

	 	 	 	 	 
	Schedules
	 	 	 	 
	 
	 	 	 	 
	Schedule I
	 	—	 	Applicable Margin and Applicable Percentage
	Schedule II
	 	—	 	Commitment Amounts
	Schedule III
	 	—	 	Dark Leases
	Schedule 3.1(b)(xvii)
	 	—	 	Material Agreements
	Schedule 4.5
	 	—	 	Environmental Matters
	Schedule 4.14
	 	—	 	Subsidiaries
	Schedule 7.1
	 	—	 	Outstanding Indebtedness
	Schedule 7.2
	 	—	 	Existing Liens
	Schedule 7.4
	 	—	 	Existing Investments
	 
	 	 	 	 
	Exhibits
	 	 	 	 
	 
	 	 	 	 
	Exhibit A
	 	—	 	Form of Revolving Credit Note
	Exhibit B
	 	—	 	Form of Term Note
	Exhibit C
	 	—	 	Form of Assignment and Acceptance
	Exhibit D
	 	—	 	Form of Subsidiary Guarantee Agreement
	Exhibit E
	 	—	 	Form of Borrowing Base Certificate
	 
	 	 	 	 
	Exhibit 2.3
	 	—	 	Form of Notice of Revolving Borrowing
	Exhibit 2.5
	 	—	 	Form of Notice of Term Loan Borrowing
	Exhibit 3.1(b)(viii)
	 	—	 	Form of Secretary’s Certificate
	Exhibit 3.1(b)(xi)
	 	—	 	Form of Officer’s Certificate
	Exhibit 5.1(c)
	 	—	 	Form of Compliance Certificate

v

 

REVOLVING CREDIT AND TERM LOAN AGREEMENT

     THIS REVOLVING CREDIT AND TERM LOAN AGREEMENT (this “Agreement”) is made and entered
into as of January 19, 2010, by and among PRG-SCHULTZ INTERNATIONAL, INC., a Georgia corporation
(“PRGX”), PRG-SCHULTZ USA, INC., a Georgia corporation (“PRG-USA”) (PRGX and
PRG-USA are each individually, a “Borrower”, and collectively, the “Borrowers”),
the several banks and other financial institutions and lenders from time to time party hereto (the
“Lenders”), and SUNTRUST BANK, in its capacity as administrative agent for the Lenders (the
“Administrative Agent”), and as issuing bank (the “Issuing Bank”).

W I T N E S S E T H:

     WHEREAS, the Borrowers have requested that the Lenders (a) establish a $15,000,000 revolving
credit facility (with a letter of credit sub-facility) in favor of, and (b) make a term loan in the
principal amount equal to $15,000,000 to, the Borrowers; and

     WHEREAS, subject to the terms and conditions of this Agreement, the Lenders and the Issuing
Bank to the extent of their respective Commitments (as defined herein) and undertakings hereunder,
are willing severally to establish the requested revolving credit facility, and the letter of
credit sub-facility and severally to make the term loan to the Borrowers.

     NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained,
the Borrowers, the Lenders, the Administrative Agent and the Issuing Bank agree as follows:

ARTICLE I

DEFINITIONS; CONSTRUCTION

     Section 1.1. Definitions. In addition to the other terms defined herein, the
following terms used herein shall have the meanings herein specified (to be equally applicable to
both the singular and plural forms of the terms defined):

     “Ableco” shall mean Ableco Finance LLC, a Delaware limited liability company.

     “Accounts” shall mean all of each Borrower’s “accounts” as such term is defined in the
UCC, and, in any event, includes, without limitation, (a) all accounts receivable, and all other
rights to payment for property sold, leased, licensed, assigned or otherwise disposed of, for a
policy of insurance issued or to be issued, for a secondary obligation incurred or to be incurred,
for energy provided or to be provided, for the use or hire of a vessel under a charter or other
contract, arising out of the use of a credit card or charge card, or for services rendered or to be
rendered or in connection with any other transaction (whether or not yet earned by performance),
(b) all rights in, to, and under all purchase orders or receipts for goods or services, (c) all
rights to any goods represented by any of the foregoing, including, without limitation, all rights
of rescission, replevin, reclamation, and stoppage in transit and rights to returned, reclaimed, or
repossessed goods, (d) all reserves and credit balances held by each Borrower with respect to
any such accounts receivable or account debtors, (e) all books, records, computer tapes, programs

 

 

and ledger books arising therefrom or relating thereto, and (f) all guarantees and collateral
security of any kind, given by any account debtor or any other Person with respect to any of the
foregoing, all whether now owned or existing or hereafter acquired or arising, by or in favor of,
any Borrower.

     “Acknowledgment Agreements” shall mean (a) acknowledgment agreements,
substantially in such form as shall be reasonably acceptable to the Administrative Agent, between
each Loan Party’s warehousemen and the Administrative Agent and (b) the Landlord Agreements.

     “Acquired Adjusted EBITDA” shall mean, with respect to any Acquired Business for any
period, the amount for such period of Consolidated Adjusted EBITDA of such Acquired Business, all
as determined on a consolidated basis for such Acquired Business in a manner not inconsistent with
GAAP.

     “Acquired Business” shall have the meaning provided in the definition of the term
Permitted Acquisition.

     “Adjusted LIBO Rate” shall mean, with respect to each Interest Period for a Eurodollar
Borrowing, the rate per annum obtained by dividing (i) LIBOR for such Interest Period by (ii) a
percentage equal to 1.00 minus the Eurodollar Reserve Percentage.

     “Administrative Agent” shall have the meaning assigned to such term in the opening
paragraph hereof.

     “Administrative Questionnaire” shall mean, with respect to each Lender, an
administrative questionnaire in the form prepared by the Administrative Agent and submitted to the
Administrative Agent duly completed by such Lender.

     “Advisory Fee Letter” shall mean that certain advisory fee letter, dated as of January
19, 2010, executed by SunTrust Robinson Humphrey, Inc. and accepted by the Borrowers.

     “Affiliate” shall mean, as to any Person, any other Person that directly, or
indirectly through one or more intermediaries, Controls, is Controlled by, or is under common
Control with, such Person. For the purposes of this definition, “Control” shall mean the power,
directly or indirectly, either to (i) vote 5% or more of the securities having ordinary voting
power for the election of directors (or persons performing similar functions) of a Person or (ii)
direct or cause the direction of the management and policies of a Person, whether through the
ability to exercise voting power, by control or otherwise. The terms “Controlling”, “Controlled
by”, and “under common Control with” have the meanings correlative thereto.

     “Aggregate Revolving Commitment Amount” shall mean the aggregate principal amount of
the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate
Revolving Commitment Amount is $15,000,000.

     “Aggregate Revolving Commitments” shall mean, collectively, all Revolving
Commitments of all Lenders at any time outstanding.

2

 

     “Aggregate Equity Pledge Threshold” shall mean, as of any date of determination, that:

          (1) PRGX, together with its Domestic Subsidiaries whose Capital Stock is pledged by the Loan
Parties pursuant to the Equity Pledge Agreement (together with any additional Domestic Subsidiaries
whose Capital Stock is to be pledged by the Loan Parties), collectively satisfy each of the
following two criteria: (i) their collective consolidated revenue for the 12-month period ending on
the last day of the most recent Fiscal Quarter equals or exceeds an amount equal to ninety-five
percent (95%) of the total consolidated revenue of PRGX and its Domestic Subsidiaries for that
12-month period; and (ii) their collective consolidated assets as of the last day of the most
recent Fiscal Quarter equals or exceeds an amount equal to ninety-five percent (95%) of the total
consolidated assets of PRGX and its Domestic Subsidiaries as of the last day of such Fiscal
Quarter; in each case, as shown on the financial statements most recently delivered or required to
be delivered pursuant to Section 5.1(a) or (b), as the case may be, or, if such financial
statements have not yet been delivered or required to be delivered (including as of the Closing
Date), then, in each case, as shown on the September 30, 2009 financial statements delivered to the
Administrative Agent pursuant to Section 3.1(b)(xxix), provided, however, that any Domestic
Subsidiary owned directly by a Foreign Subsidiary as of the Closing Date shall be excluded from the
computations and requirements of this subsection (1) for all purposes; and

     (2) each of the first tier Foreign Subsidiaries whose Capital Stock is pledged by the Loan
Parties pursuant to the Equity Pledge Agreement (together with any additional Foreign Subsidiaries
whose Capital Stock is to be pledged by the Loan Parties), together with their respective direct
and indirect Foreign Subsidiaries, collectively satisfy each of the following two criteria: (i)
their collective consolidated revenue for the 12-month period ending on the last day of the most
recent Fiscal Quarter equals or exceeds an amount equal to ninety-five percent (95%) of the total
consolidated revenue of all Foreign Subsidiaries for that 12-month period; and (ii) their
collective consolidated assets as of the last day of the most recent Fiscal Quarter equals or
exceeds an amount equal to ninety-five percent (95%) of the total consolidated assets of all
Foreign Subsidiaries as of the last day of such Fiscal Quarter; in each case, as shown on the
financial statements most recently delivered or required to be delivered pursuant to Section
5.1(a) or (b), as the case may be, or, if such financial statements have not yet been delivered
or required to be delivered (including as of the Closing Date), then, in each case, as shown on the
September 30, 2009 financial statements delivered to the Administrative Agent pursuant to
Section 3.1(b)(xxix).

     “Aggregate Subsidiary Threshold” shall mean, as of any date of determination, that the
Loan Parties (together with any additional Domestic Subsidiaries then to be made Loan Parties)
collectively satisfy each of the following two criteria: (i) their collective consolidated revenue
for the 12-month period ending on the last day of the most recent Fiscal Quarter equals or exceeds
an amount equal to ninety-five percent (95%) of the total consolidated revenue of PRGX and its
Domestic Subsidiaries for that 12-month period; and (ii) their collective consolidated assets as of
the last day of the most recent Fiscal Quarter equals or exceeds an amount equal to ninety-five
percent (95%) of the total consolidated assets of PRGX and its Domestic Subsidiaries as of the last
day of such Fiscal Quarter; in each case, as shown on the financial statements most recently
delivered or required to be delivered pursuant to Section 5.1(a) or (b), as the case may
be, or, if
such financial statements have not yet been delivered or required to be delivered (including
as of the Closing Date), then, in each case, as shown on the September 30, 2009 financial
statements

3

 

delivered to the Administrative Agent pursuant to Section 3.1(b)(xxix).

     “Aggregate Term Loan Commitments” shall mean, collectively, all Term Loan Commitments
of all Lenders at any time outstanding.

     “Anti-Terrorism Order” shall mean Executive Order 13224, signed by President George W.
Bush on September 23, 2001, effective as of September 24, 2001.

     “Applicable Lending Office” shall mean, for each Lender and for each Type of Loan, the
“Lending Office” of such Lender (or an Affiliate of such Lender) designated for such Type of Loan
in the Administrative Questionnaire submitted by such Lender or such other office of such Lender
(or an Affiliate of such Lender) as such Lender may from time to time specify to the Administrative
Agent and the Borrowers’ Agent as the office by which its Loans of such Type are to be made and
maintained. The Applicable Lending Office for SunTrust Bank shall be 25 Park Place,
23rd Floor, Atlanta, Georgia 30303.

     “Applicable Margin” shall mean, as of any date, (a) with respect to interest on all
Term Loans outstanding on any date, (b) with respect to interest on all Revolving Loans outstanding
on any date and (c) with respect to the letter of credit fee on any date, as the case may be, a
percentage per annum determined by reference to the applicable Leverage Ratio in effect on such
date as set forth on Schedule I; provided, that a change in the Applicable Margin
resulting from a change in the Leverage Ratio shall be effective on the second Business Day after
which the Borrowers’ Agent delivers each of the financial statements required by Section
5.1(a) and (b) and the Compliance Certificate required by Section 5.1(c);
provided further, that if at any time the Borrowers, or Borrowers’ Agent, shall have failed
to deliver such financial statements and such Compliance Certificate when so required, the
Applicable Margin shall be at Level IV as set forth on Schedule I until such time as such
financial statements and Compliance Certificate are delivered, at which time the Applicable Margin
shall be determined as provided above. Notwithstanding the foregoing, the Applicable Margin from
the Closing Date until the financial statements and Compliance Certificate for the Fiscal Quarter
ending December 31, 2009 are required to be delivered shall be at Level II as set forth on
Schedule I. In the event that any financial statement or Compliance Certificate delivered
hereunder is shown to be inaccurate at any time prior to the Obligations being paid in full (except
to the extent such Obligations consist solely of inchoate indemnity obligations, Treasury
Management Obligations and/or Cash Collateralized Letters of Credit complying with the terms and
conditions of this Agreement), and such inaccuracy, if corrected, would have led to the application
of a higher or lower Applicable Margin based upon the pricing grid set forth on Schedule I
(the “Accurate Applicable Margin”) for any period that such financial statement or
Compliance Certificate covered, then (i) the Borrowers’ Agent shall promptly deliver to the
Administrative Agent a correct financial statement or Compliance Certificate, as the case may be,
for such period, (ii) the Applicable Margin shall be adjusted such that after giving effect to the
corrected financial statements or Compliance Certificate, as the case may be, the Applicable Margin
shall be reset to the Accurate Applicable Margin based upon the pricing grid set forth on
Schedule I for such period and (iii) either the Borrowers shall promptly pay to the
Administrative Agent, for the account of the Lenders, the accrued additional interest owing as a
result of such Accurate Applicable Margin
for such period, or, in the case of a lower Accurate Applicable Margin, the Lenders shall
promptly pay any resulting excess interest to Administrative Agent, for the account of the

4

 

Borrowers. The provisions of this definition shall not limit the rights of the Administrative
Agent and the Lenders with respect to Section 2.13(c) or Article VIII.

     “Applicable Percentage” shall mean, as of any date, with respect to the commitment fee
as of any date, the percentage per annum determined by reference to the Leverage Ratio in effect on
such date as set forth on Schedule I; provided, that a change in the Applicable
Percentage resulting from a change in the Leverage Ratio shall be effective on the second Business
Day after which the Borrowers’ Agent delivers each of the financial statements required by
Section 5.1(a) and (b) and the Compliance Certificate required by Section 5.1(c);
provided further, that if at any time the Borrowers, or Borrowers’ Agent, shall
have failed to deliver such financial statements and such Compliance Certificate, the Applicable
Percentage shall be at Level IV as set forth on Schedule I until such time as such
financial statements and Compliance Certificate are delivered, at which time the Applicable
Percentage shall be determined as provided above. Notwithstanding the foregoing, the Applicable
Percentage for the commitment fee from the Closing Date until the financial statements and
Compliance Certificate for the Fiscal Quarter ending December 31, 2009 are required to be delivered
shall be at Level II as set forth on Schedule I. In the event that any financial statement
or Compliance Certificate delivered hereunder is shown to be inaccurate at any time prior to the
Obligations being paid in full (except to the extent such Obligations consist solely of inchoate
indemnity obligations, Treasury Management Obligations and/or Cash Collateralized Letters of Credit
complying with the terms and conditions of this Agreement), and such inaccuracy, if corrected,
would have led to the application of a higher or lower Applicable Percentage based upon the pricing
grid set forth on Schedule I (the “Accurate Applicable Percentage”) for any period
that such financial statement or Compliance Certificate covered, then (i) the Borrowers’ Agent
shall immediately deliver to the Administrative Agent a correct Financial Statement or Compliance
Certificate, as the case may be, for such period, (ii) the Applicable Percentage shall be adjusted
such that after giving effect to the corrected financial statements or Compliance Certificate, as
the case may be, the Applicable Percentage shall be reset to the Accurate Applicable Percentage
based upon the pricing grid set forth on Schedule I for such period as set forth in the
foregoing pricing grid for such period and (iii) either the Borrowers shall promptly pay to the
Administrative Agent, for the account of the Lenders, the accrued additional interest owing as a
result of such Accurate Applicable Percentage for such period, or, in the case of a lower Accurate
Applicable Percentage, the Lenders shall promptly pay any resulting excess interest to
Administrative Agent, for the account of the Borrowers. The provisions of this definition shall
not limit the rights of the Administrative Agent and the Lenders with respect to Section
2.13(c) or Article VIII.

     “Approved Fund” shall mean any Person (other than a natural Person) that is (or will
be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar
extensions of credit in the ordinary course of its business and that is administered or managed by
(i) a Lender, (ii) an Affiliate of a Lender or (iii) an entity or an Affiliate of an entity that
administers or manages a Lender.

     “Assignment and Acceptance” shall mean an assignment and acceptance entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section
10.4(b)) and accepted by the Administrative Agent, in the form of Exhibit C
attached hereto or any other form approved by the Administrative Agent.

5

 

     “Availability Period” shall mean the period from the Closing Date to but excluding the
Revolving Commitment Termination Date.

     “Bank Product Obligations” shall mean, collectively, all obligations and other
liabilities of any Loan Party in respect of any of the following: (i) credit card (including
purchasing card and commercial card) services, (ii) prepaid card, including payroll, stored value
and gift card services, (iii) merchant services processing and (iv) debit card services.

     “Base Rate” shall mean the highest of (i) the rate which the Administrative Agent
announces from time to time as its prime lending rate, as in effect from time to time, (ii) the
Federal Funds rate, as in effect from time to time, plus one-half of one percent (1/2%) per annum and
(iii) the Adjusted LIBO Rate determined on a daily basis for an Interest Period of one (1) month,
plus one percent (1.00%) per annum (any changes in such rates to be effective as of the date of any
change in such rate). The Administrative Agent’s prime lending rate is a reference rate and does
not necessarily represent the lowest or best rate of interest charged to any customer of the
Administrative Agent. The Administrative Agent may make commercial loans or other loans at rates
of interest at, above, or below the Administrative Agent’s prime lending rate.

     “Borrower” and “Borrowers” shall have the meanings in the introductory
paragraph hereof.

     “Borrowers’ Agent” shall mean PRGX, in its capacity as agent for the Borrowers in
accordance with Section 2.27.

     “Borrowing” shall mean a borrowing consisting of Loans of the same Type, made,
converted or continued on the same date.

     “Borrowing Base” shall mean, as of any date of determination, the following amount
calculated in Dollars as follows:

          (1) an amount equal to eighty percent (80%) of Eligible Accounts Receivable of the
Borrowers; minus

          (2) reserves established by the Administrative Agent from time to time in its
reasonable credit judgment (the “Reserves”).

     Subject to the relevant terms and provisions set forth in this Agreement, the Administrative
Agent at all times shall be entitled to reduce or increase the advance rates and standards of
eligibility under this Agreement, in each case in its reasonable credit judgment.

     “Borrowing Base Certificate” shall mean a borrowing base certificate from a
Responsible Officer of Borrowers’ Agent in substantially the form of Exhibit E hereto.

     “Business Day” shall mean (i) any day other than a Saturday, Sunday or other day on
which commercial banks in Atlanta, Georgia are authorized or required by law to close and (ii) if
such day relates to a Borrowing of, a payment or prepayment of principal or interest on, or an
Interest Period for a LIBOR Index Rate Loan or a notice with respect to any of the foregoing, any
day on which banks are not open for dealings in dollar deposits that are carried on in the

6

 

London
interbank market.

     “Capital Expenditures” shall mean for any period, without duplication, (i) the
additions to property, plant and equipment and other capital expenditures of PRGX and its
Subsidiaries that are (or would be) set forth on a consolidated statement of cash flows of PRGX and
its Subsidiaries for such period prepared in accordance with GAAP and (ii) Capital Lease
Obligations incurred by PRGX and its Subsidiaries during such period. For the avoidance of doubt,
Permitted Acquisitions do not constitute Capital Expenditures for purposes of this Agreement.

     “Capital Lease Obligations” of any Person shall mean all obligations of such Person to
pay rent or other amounts under any lease (or other arrangement conveying the right to use) of real
or personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

     “Capital Stock” means all shares, options, warrants, general or limited partnership
interests, membership interests or other equivalents (regardless of how designated) of or in a
corporation, partnership, limited liability company or equivalent entity whether voting or
nonvoting, including common stock, preferred stock or any other “equity security” (as such term is
defined in Rule 3a11-1 of the General Rules and Regulations promulgated by the Securities and
Exchange Commission under the Securities Exchange Act of 1934).

     “Cash Collateralize” shall mean, in respect of any obligations, to provide and pledge
(as a first priority perfected security interest) cash collateral for such obligations in Dollars,
with a depository institution, and pursuant to documentation in form and substance, reasonably
satisfactory to the Administrative Agent (and “Cash Collateralization” has a corresponding
meaning).

     “Cash Equivalents” means, as at any date, (a) securities issued or directly and fully
guaranteed or insured by the United States or any agency or instrumentality thereof (provided that
the full faith and credit of the United States is pledged in support thereof) having maturities of
not more than twelve months from the date of acquisition, (b) Dollar denominated time deposits and
certificates of deposit of (i) any Lender, (ii) any domestic commercial bank of recognized standing
having capital and surplus in excess of $500,000,000 or (iii) any domestic bank whose short-term
commercial paper rating from S&P is at least A-1 or the equivalent thereof or from Moody’s is at
least P-1 or the equivalent thereof (any such bank being an “Approved Bank”), in each case with
maturities of not more than 270 days from the date of acquisition, (c) commercial paper and
variable or fixed rate notes issued by any Approved Bank (or by the domestic parent company
thereof) or any variable rate notes issued by, or guaranteed by, any domestic corporation rated A-1
(or the equivalent thereof) or better by S&P or P-1 (or the equivalent thereof) or better by
Moody’s and maturing within six months of the date of acquisition, or (d) reacquisition agreements
entered into by any Person with a bank or trust
company (including any of the Lenders) or recognized securities dealer having capital and
surplus in excess of $500,000,000 for direct obligations issued by or fully guaranteed by the
United States in which such Person shall have a perfected first priority security interest (subject

7

 

to no other Liens) and having, on the date of purchase thereof, a fair market value of at least
100% of the amount of the repurchase obligations and (e) Investments, classified in accordance with
GAAP as current assets, in money market investment programs registered under the Investment Company
Act of 1940, as amended, which are administered by reputable financial institutions having capital
of at least $500,000,000 and the portfolios of which are limited to Investments of the character
described in the foregoing subdivisions (a) through (d).

     “Cash Taxes” means those Taxes which have been satisfied via payment of cash.

     “Change in Control” shall mean the occurrence of one or more of the following events:
(i) any sale, lease, exchange or other transfer (in a single transaction or a series of related
transactions) of all or substantially all of the assets of any Borrower to any Person or “group”
(within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities and
Exchange Commission thereunder in effect on the date hereof); (ii) the acquisition of ownership,
directly or indirectly, beneficially or of record, by any Person or “group” (within the meaning of
the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission
thereunder as in effect on the date hereof) of fifty percent (50%) or more of the outstanding
voting power of PRGX; (iii) during any consecutive two-year period, individuals who at the
beginning of that two-year period constituted the board of directors of PRGX (together with any new
directors whose election to the board of directors of PRGX, or whose nomination for election by the
shareholders of PRGX, was approved by a vote of a majority of the directors then still in office
who were either directors at the beginning of such period or whose election or nomination for
election were previously so approved, but excluding, any such individual whose initial assumption
of office occurs as a result of an actual or threatened election contest with respect to the
election or removal of directors or other actual or threatened solicitation of proxies or consents
by or on behalf of a Person other than the board of directors) cease for any reason to constitute a
majority of the board of directors then in office; or (iv) PRG-USA shall cease to be a wholly owned
Subsidiary of PRGX.

     “Change in Law” shall mean (i) the adoption of any applicable law, rule or regulation
after the date of this Agreement, (ii) any change in any applicable law, rule or regulation, or any
change in the interpretation or application thereof, by any Governmental Authority after the date
of this Agreement, or (iii) compliance by any Lender (or its Applicable Lending Office) or the
Issuing Bank (or for purposes of Section 2.18(b), by the parent corporation of such Lender
or the Issuing Bank, if applicable) with any request, guideline or directive (whether or not having
the force of law) of any Governmental Authority made or issued after the date of this Agreement.

     “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are Revolving Loans or Term Loans and when used in
reference to any Commitment, refers to whether such Commitment is a Revolving Commitment or a Term
Loan Commitment.

     “Closing Date” shall mean the date on which the conditions precedent set forth in
Section 3.1 and Section 3.2 have been satisfied or waived in accordance with
Section 10.2.

     “Code” shall mean the Internal Revenue Code of 1986, as amended and in effect from
time to time.

8

 

     “Collateral” shall mean a collective reference to all real and personal property with
respect to which Liens in favor of the Administrative Agent for the benefit of the Credit Providers
are purported to be granted pursuant to and in accordance with the terms of the Collateral
Documents.

     “Collateral Documents” shall mean a collective reference to the Security Agreement,
the Equity Pledge Agreement, each other security agreement and such other documents executed and
delivered in connection with the attachment and perfection of the Administrative Agent’s security
interests and liens arising thereunder (for the benefit of the Credit Providers), including without
limitation, UCC financing statements and patent and trademark filings.

     “Commitment” shall mean a Revolving Commitment or a Term Loan Commitment or any
combination thereof (as the context shall permit or require).

     “Compliance Certificate” shall mean a certificate from a Responsible Officer of
Borrowers’ Agent in the form of, and containing the certifications set forth in, the certificate
attached hereto as Exhibit 5.1(c).

     “Consolidated Adjusted EBITDA” shall mean, for PRGX and its Subsidiaries for any
period, an amount equal to the sum of (i) Consolidated Net Income for such period plus (ii) to the
extent deducted in determining Consolidated Net Income for such period, and without duplication,
(A) Consolidated Interest Expense, (B) income tax expense determined on a consolidated basis in
accordance with GAAP, (C) depreciation and amortization determined on a consolidated basis in
accordance with GAAP, and (D) all non-cash stock based compensation determined on a consolidated
basis in accordance with GAAP, in each case for such period, plus or minus (iii) to the extent
computed in determining Consolidated Net Income for such period, all non-cash foreign exchange
losses or gains, to the extent related solely to intercompany balances, plus or minus (iv) to the
extent computed in determining Consolidated Net Income for such period, all other non-cash charges
and credits (specifically excluding, but not limited to, receivable write-offs and write-downs);
provided, however, that (x) there shall be included in determining Consolidated Adjusted EBITDA for
any period, without duplication, the Acquired Adjusted EBITDA of any Acquired Business during such
period, based on the actual Acquired Adjusted EBITDA of such Acquired Business for such period
(including the portion thereof occurring prior to such Permitted Acquisition).

     “Consolidated Fixed Charges” shall mean, for PRGX and its Subsidiaries for any period,
the sum (without duplication) of (i) Consolidated Interest Expense paid or payable for such period
(but only to the extent comprised of cash interest expense), (ii) scheduled principal payments paid
or payable on Consolidated Total Debt during such period, including, but not limited to, Deferred
Payments paid or payable during such period, (iii) Restricted Payments paid in cash (other than to
a Loan Party) during such period, (iv) Earn-Out Payments paid or payable during such period, plus
(v) amortization for rental exposure write-offs paid in cash during such period.

     “Consolidated Interest Expense” shall mean, for PRGX and its Subsidiaries for any
period determined on a consolidated basis in accordance with GAAP, the sum of (i) total interest
expense, including without limitation the interest component of any payments in respect of

9

 

Capital Lease Obligations capitalized or expensed during such period (whether or not actually paid
during such period) plus (ii) the net amount payable (or minus the net amount receivable) with
respect to Hedging Transactions during such period (whether or not actually paid or received during
such period).

     “Consolidated Net Funded Debt” shall mean, as of any date of determination,
Consolidated Total Debt less the amount of Non-Operating Cash reflected on the consolidated balance
sheet of PRGX and its Subsidiaries as of such date of determination.

     “Consolidated Net Income” shall mean, for PRGX and its Subsidiaries for any period,
the net income (or loss) of PRGX and its Subsidiaries for such period determined on a consolidated
basis in accordance with GAAP, but excluding therefrom (to the extent otherwise included therein)
(i) any extraordinary gains or losses, (ii) any gains attributable to write-ups of assets,
(iii) any equity interest of PRGX and its Subsidiaries in the unremitted earnings of any Person
that is not a Subsidiary and (iv) any income (or loss) of any Person accrued prior to the date it
becomes a Subsidiary or is merged into or consolidated with PRGX or a Subsidiary or the date that
such Person’s assets are acquired by PRGX or such Subsidiary.

     “Consolidated Total Debt” shall mean, as of any date of determination, all
Indebtedness of PRGX and its Subsidiaries measured on a consolidated basis as of such date, but
excluding (i) Indebtedness of the type described in subsection (xi) of the definition thereto, (ii)
obligations in respect of Earn-Out Payments, (iii) deferred compensation payment obligations
reflected on the consolidated balance sheet of PRGX and its Subsidiaries and (iv) Indebtedness
comprised of obligations owing or accrued with respect to Dark Leases.

     “Contractual Obligation” of any Person shall mean any provision of any security issued
by such Person or of any agreement, instrument or undertaking under which such Person is obligated
or by which it or any of the property in which it has an interest is bound.

     “Credit Providers” shall mean (a) the Administrative Agent, (b) the Lenders, (c) the
Issuing Bank and (d) any other Person (including without limitation an Affiliate of any Lender) to
whom a Loan Party owes any Obligations.

     “Dark Leases” shall mean the real property leases with respect to the locations more
specifically set forth in Schedule III.

     “Default” shall mean any condition or event that, with the giving of notice or the
lapse of time or both, would constitute an Event of Default.

     “Default Interest” shall have the meaning set forth in Section
2.13(c).

     “Defaulting Lender” shall mean, at any time, a Lender as to which the Administrative
Agent has notified the Borrowers’ Agent that (i) such Lender has failed for two or more Business
Days to comply with its obligations under this Agreement to make a Loan and/or to make a payment to
the Issuing Bank in respect of a Letter of Credit (each a “funding obligation”), (ii)
such Lender has notified the Administrative Agent, or has stated publicly, that it will not
comply with any such funding obligation hereunder, (iii) such Lender has, for three or more
Business Days, failed to confirm in writing to the Administrative Agent, in response to a written
request of

10

 

the Administrative Agent, that it will comply with its funding obligations hereunder, or
(iv) a Lender Insolvency Event has occurred and is continuing with respect to such Lender. Any
determination that a Lender is a Defaulting Lender under clauses (i) through (iv) above will be
made by the Administrative Agent in its sole discretion acting in good faith. The Administrative
Agent will promptly send to all parties hereto a copy of any notice to the Borrowers’ Agent
provided for in this definition.

     “Deferred Payments” shall mean (i) deferred cash payments (whether or not conditional)
paid or payable in connection with a Permitted Acquisition, whether or not evidenced by a
promissory note and whether or not such payment obligations would be reflected as a liability on
the consolidated balance sheet of PRGX and its Subsidiaries and (ii) cash payments in respect of
Indebtedness of any Acquired Business assumed by PRGX or any of its Subsidiaries in conjunction
with a Permitted Acquisition, but in either case excluding Earn-Out Payments and reasonable and
customary consulting fees.

     “Designated SunTrust Account” shall mean that certain demand deposit account, number
1000093272861, maintained by the Borrowers’ Agent with SunTrust Bank.

     “Dollar(s)” and the sign “$” shall mean lawful money of the United States of America.

     “Domestic Subsidiary” shall mean any Subsidiary that is not a Foreign Subsidiary.

     “Earn-Out Payments” shall mean contingent future payments, based on performance, paid
or payable in connection with a Permitted Acquisition, whether or not evidenced by a promissory
note and whether or not such payment obligations would be reflected as a liability on the
consolidated balance sheet of PRGX and its Subsidiaries.

     “Eligible Accounts Receivable” shall mean the aggregate face amount of the Accounts of
the Borrowers which are lawfully owned by the Borrowers, that are unconditionally payable in
Dollars and that conform to the representations and warranties contained herein and at all times
continue to be acceptable to the Administrative Agent in its reasonable credit judgment, less
(without duplication) the aggregate amount of all returns, discounts, claims, credits, charges and
allowances of any nature (whether issued, owing, granted or outstanding), and less (without
duplication) the aggregate amount of all reserves for slow paying accounts, foreign sales, bill and
hold (or deferred shipment) transactions. Unless otherwise approved in writing by the
Administrative Agent, no Account shall be deemed to be an Eligible Account Receivable if:

     (a) the Account arises out of a sale made by a Borrower to an Affiliate;

     (b) the Account is unpaid more than ninety (90) days after the original invoice date
thereof;

     (c) fifty percent (50%) or more, in aggregate face amount, of the Accounts from such
account debtor (including such Account) are unpaid more than ninety (90) days after the
original invoice date thereof;

11

 

     (d) the amount of the Account, when aggregated with all other Accounts of such
account debtor, exceeds fifteen percent (15%) in face value of all Accounts of the
Borrowers then outstanding, but only to the extent of such excess;

     (e) an Account for which (i) the account debtor is also a creditor of a Borrower, or
has or otherwise acquires a right of setoff against such Account, unless the account
debtor has executed a non-setoff letter satisfactory to Administrative Agent in its sole
discretion, provided, however, that if such account debtor has not executed a non-setoff
letter, Administrative Agent, in its sole discretion, may include as eligible the net
amount due from such account debtor to such Borrower, or (ii) the account debtor has
disputed its liability on, or the account debtor has made any claim with respect to, such
Account, which has not been resolved, provided, however, that with respect to any Account
subject to dispute or counterclaim where the amount of such dispute or counterclaim is
less than fifty percent (50%) of the total amount of the Account, the portions of such
Account not subject to such dispute or counterclaim will not be ineligible solely by
reason of this clause (e)(ii);

     (f) the Account is owing by an account debtor that has commenced a voluntary case
under the bankruptcy code or made an assignment for the benefit of creditors, or if a
decree or order for relief has been entered by a court having jurisdiction in the
premises in respect to such account debtor in an involuntary case under the bankruptcy
code; any petition or other application for relief under the bankruptcy code has been
filed by or against the account debtor; or such account debtor is generally not paying
its debts as they become due (unless such debts are the subject of a bona fide dispute),
or has suspended business, ceased to be solvent, or consented to or suffered a receiver,
trustee, liquidator or custodian to be appointed for it or for all or a significant
portion of its assets or affairs;

     (g) the Account arises from a sale to an account debtor outside the United States,
unless the sale is (i) on letter of credit, guaranty or acceptance terms, or subject to
credit insurance, in each case acceptable to the Administrative Agent in its reasonable
credit judgment or (ii) otherwise approved by and acceptable to the Administrative Agent
in its sole discretion;

     (h) the Account arises from a sale on a bill-and-hold, installment billing,
retainage invoice, advance billing, guaranteed sale, sale-and-return, sale on approval or
consignment basis or is made pursuant to any other written agreement providing for
repurchase or return or for the right to receive progress payments or advance billings
due prior to completion of performance by the Borrower;

     (i) the Administrative Agent believes, in its reasonable credit judgment, that
collection of such Account is insecure or that such Account may not be paid by reason of
the account debtor’s financial inability to pay;

     (j) an Account for which the related account debtor is the United States of America
or any department, agency or instrumentality thereof, unless the applicable Borrower duly
assigns its rights to payment of such Account to the Administrative

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Agent pursuant to the Assignment of Claims Act of 1940, as amended (31 U.S.C. § 3727
et seq.);

          (k) an Account for which the goods giving rise thereto have not been shipped and
delivered to and accepted by the related account debtor or its designee; the services
giving rise to such Account have not been performed by or on behalf of the applicable
Borrower and accepted by the related account debtor or its designee; or such Account
otherwise does not represent a final sale or the payment of which is otherwise
conditional by its terms;

          (l) the aggregate face amount of the Account and all other Accounts owing by the
same account debtor exceeds a credit limit as to such account debtor determined by the
Administrative Agent, in its reasonable credit judgment, but only to the extent such
aggregate face amount exceeds such limit;

          (m) the Administrative Agent does not have a first priority, perfected security
interest in the Account, free and clear of any Lien other than Liens in favor of the
Administrative Agent for the benefit of the Credit Providers and non-consensual Liens
permitted by Section 7.2;

          (n) an Account for which an invoice has not been prepared and delivered to the
related account debtor; or

          (o) an Account which the Administrative Agent, at any time and in the exercise of
its reasonable credit judgment, determines to be ineligible.

     “Environmental Laws” shall mean all laws, rules, regulations, codes, ordinances,
orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or
entered into by or with any Governmental Authority, relating in any way to the environment,
preservation or reclamation of natural resources, the management, Release or threatened Release of
any Hazardous Material or to health and safety matters.

     “Environmental Liability” shall mean any liability, contingent or otherwise (including
any liability for damages, costs of environmental investigation and remediation, costs of
administrative oversight, fines, natural resource damages, penalties or indemnities), of PRGX or
any Subsidiary directly or indirectly resulting from or based upon (i) any actual or alleged
violation of any Environmental Law, (ii) the generation, use, handling, transportation, storage,
treatment or disposal of any Hazardous Materials, (iii) any actual or alleged exposure to any
Hazardous Materials, (iv) the Release or threatened Release of any Hazardous Materials or (v) any
contract, agreement or other consensual arrangement pursuant to which liability is assumed or
imposed with respect to any of the foregoing.

     “Equity Pledge Agreement” shall mean the Equity Pledge Agreement, dated as of the date
hereof, made by the Loan Parties in favor of the Administrative Agent for the benefit of the Credit
Providers.

     “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended
from time to time, and any successor statute.

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     “ERISA Affiliate” shall mean any trade or business (whether or not incorporated),
which, together with any Borrower, is treated as a single employer under Section 414(b) or (c) of
the Code or, solely for the purposes of Section 302 of ERISA and Section 412 of the Code, is
treated as a single employer under Section 414 of the Code.

     “ERISA Event” shall mean (i) any “reportable event”, as defined in Section 4043 of
ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which
the 30-day notice period is waived); (ii) the failure of any Plan to meet the minimum funding
standard applicable to the Plan for a plan year under Section 412 of the Code or Section 302 of
ERISA, whether or not waived; (iii) the filing pursuant to Section 412(d) of the Code or Section
303(d) of ERISA of an application for a waiver of the minimum funding standard with respect to any
Plan; (iv) the incurrence by any Borrower or any of its ERISA Affiliates of any liability under
Title IV of ERISA with respect to the termination of any Plan; (v) the receipt by any Borrower or
any ERISA Affiliate from the PBGC or a plan administrator appointed by the PBGC of any notice
relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any
Plan; (vi) the incurrence by any Borrower or any of its ERISA Affiliates of any liability with
respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (vii) the
receipt by any Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer
Plan from any Borrower or any ERISA Affiliate of any notice, concerning the imposition of
Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be,
insolvent or in reorganization, within the meaning of Title IV of ERISA.

     “Eurodollar” when used in reference to any Loan or Borrowing, refers to whether such
Loan, or the Loans comprising such Borrowing, bears interest at a rate determined by reference to
the Adjusted LIBO Rate.

     “Eurodollar Reserve Percentage” shall mean the aggregate of the maximum reserve
percentages (including, without limitation, any emergency, supplemental, special or other marginal
reserves) expressed as a decimal (rounded upwards to the next 1/100th of 1%) in effect
on any day to which the Administrative Agent is subject with respect to the Adjusted LIBO Rate
pursuant to regulations issued by the Board of Governors of the Federal Reserve System (or any
Governmental Authority succeeding to any of its principal functions) with respect to eurocurrency
funding (currently referred to as “eurocurrency liabilities” under Regulation D). Eurodollar Loans
shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements
without benefit of or credit for proration, exemptions or offsets that may be available from time
to time to any Lender under Regulation D. The Eurodollar Reserve Percentage shall be adjusted
automatically on and as of the effective date of any change in any reserve percentage.

     “Event of Default” shall have the meaning provided in Article VIII.

     “Excess Availability” shall mean, at any time, the amount, if any, by which (a) the
lesser of (i) the Revolving Commitments of all Lenders and (ii) the Borrowing Base exceeds (b) the
aggregate amount of (i) the outstanding principal amount of all Revolving Loans, plus (ii) the
aggregate LC Exposure.

     “Excess Cash Flow” shall mean, for any Fiscal Year, (A) Consolidated Adjusted

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EBITDA minus (B) the sum of (i) Consolidated Interest Expense (to the extent actually paid in
cash), (ii) voluntary and mandatory principal payments on Consolidated Total Debt (to the extent
actually paid in cash), (iii) Cash Taxes (to the extent comprised of income taxes actually paid in
cash), (iv) amortization for rental exposure write-offs (to the extent actually paid in cash), (v)
Capital Expenditures (to the extent actually paid in cash and otherwise permitted by the terms of
this Agreement), plus (or minus), as applicable, (C) (i) extraordinary cash gains or losses and
(ii) changes in working capital, in each case, measured for such Fiscal Year on a consolidated
basis for PRGX and its Subsidiaries in accordance with GAAP.

     “Excluded Taxes” shall mean with respect to the Administrative Agent, any Lender, the
Issuing Bank or any other recipient of any payment to be made by or on account of any obligation of
any Borrower hereunder, (a) income or franchise taxes imposed on (or measured by) its net income by
the United States of America, or by the jurisdiction under the laws of which such recipient is
organized or in which its principal office is located or, in the case of any Lender, in which its
Applicable Lending Office is located, (b) any branch profits taxes imposed by the United States of
America or any similar tax imposed by any other jurisdiction in which any Lender is located and (c)
in the case of a Foreign Lender, any withholding tax that (i) is imposed on amounts payable to such
Foreign Lender at the time such Foreign Lender becomes a party to this Agreement, (ii) is imposed
on amounts payable to such Foreign Lender at any time that such Foreign Lender designates a new
lending office, other than taxes that have accrued prior to the designation of such lending office
that are otherwise not Excluded Taxes, and (iii) is attributable to such Foreign Lender’s failure
to comply with Section 2.20(e).

     “Federal Funds Rate” shall mean, for any day, the rate per annum (rounded upwards, if
necessary, to the next 1/100th of 1%) equal to the weighted average of the rates on
overnight Federal funds transactions with member banks of the Federal Reserve System arranged by
Federal funds brokers, as published by the Federal Reserve Bank of New York on the next succeeding
Business Day or if such rate is not so published for any Business Day, the Federal Funds Rate for
such day shall be the average rounded upwards, if necessary, to the next 1/100th of 1% of the
quotations for such day on such transactions received by the Administrative Agent from three
Federal funds brokers of recognized standing selected by the Administrative Agent.

     “Fiscal Quarter” shall mean any fiscal quarter of the Borrowers.

     “Fiscal Year” shall mean any fiscal year of the Borrowers.

     “Fixed Charge Coverage Ratio” shall mean, as of any date of determination, the ratio
of (a) Consolidated Adjusted EBITDA less the actual amount paid by PRGX and its Subsidiaries in
cash on account of Capital Expenditures and Cash Taxes (to the extent comprised of income taxes
actually paid in cash) to (b) Consolidated Fixed Charges, in each case measured for the four
consecutive Fiscal Quarters ending on or immediately prior to such date.

     “Foreign Lender” shall mean any Lender that is not a United States person under
Section 7701(a)(30) of the Code.

     “Foreign Subsidiary” shall mean any Subsidiary that is organized under the laws of a
jurisdiction other than one of the fifty states of the United States or the District of Columbia.

15

 

     “Funds Disbursement Letter” shall mean that certain letter, dated as of the date
hereof, from the Borrowers to Administrative Agent setting forth the sources and uses of the
proceeds of the initial Revolving Loan and Term Loan.

     “GAAP” shall mean generally accepted accounting principles in the United States
applied on a consistent basis and subject to the terms of Section 1.3.

     “Governmental Authority” shall mean the government of the United States of America,
any other nation or any political subdivision thereof, whether state or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government.

     “Guarantee” of or by any Person (the “guarantor”) shall mean any obligation,
contingent or otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly and including any obligation, direct or
indirect, of the guarantor (i) to purchase or pay (or advance or supply funds for the purchase or
payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for
the purchase of) any security for the payment thereof, (ii) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (iii) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or other obligation or (iv) as an account party in respect of any
letter of credit or letter of guaranty issued in support of such Indebtedness or obligation;
provided, that the term “Guarantee” shall not include endorsements for collection or
deposit in the ordinary course of business. The amount of any Guarantee shall be deemed to be an
amount equal to the stated or determinable amount of the primary obligation in respect of which
Guarantee is made or, if not so stated or determinable, the maximum reasonably anticipated
liability in respect thereof (assuming such Person is required to perform thereunder) as determined
by such Person in good faith, after giving effect to any contractual payment or recourse limitation
with respect to any such Guarantee. The term “Guarantee” used as a verb has a corresponding
meaning.

     “Guarantor” shall mean each of the Subsidiary Loan Parties.

     “Hazardous Materials” shall mean all explosive or radioactive substances or wastes and
all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas,
infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law.

     “Hedging Obligations” of any Person shall mean any and all obligations of such Person,
whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired
under (i) any and all Hedging Transactions, (ii) any and all cancellations, buy backs, reversals,
terminations or assignments of any Hedging Transactions and (iii) any and all renewals, extensions
and modifications of any Hedging Transactions and any and all substitutions for any Hedging
Transactions.

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     “Hedging Transaction” of any Person shall mean (a) any transaction (including an
agreement with respect to any such transaction) now existing or hereafter entered into by such
Person that is a rate swap transaction, swap option, basis swap, forward rate transaction,
commodity swap, commodity option, equity or equity index swap or option, bond option, interest rate
option, foreign exchange transaction, cap transaction, floor transaction, collar transaction,
currency swap transaction, cross-currency rate swap transaction, currency option, spot transaction,
credit protection transaction, credit swap, credit default swap, credit default option, total
return swap, credit spread transaction, repurchase transaction, reverse repurchase transaction,
buy/sell-back transaction, securities lending transaction, or any other similar transaction
(including any option with respect to any of these transactions) or any combination thereof,
whether or not any such transaction is governed by or subject to any master agreement and (b) any
and all transactions of any kind, and the related confirmations, which are subject to the terms and
conditions of, or governed by, any form of master agreement published by the International Swaps
and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any
other master agreement (any such master agreement, together with any related schedules, a
“Master Agreement”), including any such obligations or liabilities under any Master
Agreement.

     “Indebtedness” of any Person shall mean, without duplication (i) all obligations of
such Person for borrowed money, (ii) all obligations of such Person evidenced by bonds, debentures,
notes or other similar instruments, (iii) all obligations of such Person in respect of the deferred
purchase price of property or services (other than trade payables incurred in the ordinary course
of business; provided, that for purposes of Section 7.1(k), trade payables overdue
by more than 120 days shall be included in this definition except to the extent that any of such
trade payables are being disputed in good faith and by appropriate measures), (iv) all obligations
of such Person under any conditional sale or other title retention agreement(s) relating to
property acquired by such Person, (v) all Capital Lease Obligations of such Person, (vi) all
obligations, contingent or otherwise, of such Person in respect of letters of credit, acceptances
or similar extensions of credit, (vii) all Guarantees of such Person of the type of Indebtedness
described in clauses (i) through (vi) above, (viii) all Indebtedness of a third party secured by
any Lien on property owned by such Person, whether or not such Indebtedness has been assumed by
such Person, (ix) all obligations of such Person, contingent or otherwise, to purchase, redeem,
retire or otherwise acquire for value any Capital Stock of such Person, (x) Off-Balance Sheet
Liabilities, and (xi) all Hedging Obligations. The Indebtedness of any Person shall include the
Indebtedness of any partnership or joint venture in which such Person is a general partner or a
joint venturer, except to the extent that the terms of such Indebtedness provide that such Person
is not liable therefor. For the avoidance of doubt, Indebtedness shall include Deferred Payments
and, except as otherwise set forth in this Agreement, Earn-Out Payments.

     “Indemnified Taxes” shall mean Taxes other than Excluded Taxes.

     “Intellectual Property” shall mean any or all of the following: (a) works of
authorship including advertising and/or programming content, computer programs, source code, and
executable code, whether embodied in software, firmware or otherwise, documentation, designs,
files, records, data and mask works, (b) inventions (whether or not patentable), (c) confidential
information, trade secrets and know how, (d) databases, data compilations and collections and
technical data, (e) logos, trade names, trade dress, trademarks, service marks and brand names,

17

 

(f) domain names, web sites, universal resource locators and email addresses, and (g) any and
all instantiations of the foregoing in any form and embodied in any media.

     “Interest Period” shall mean, with respect to any LIBOR Index Rate Borrowing, a period
of one month, provided, that:

     (i) the initial Interest Period for such Borrowing shall commence on the date of such
Borrowing (including the date of any conversion from a Borrowing of another Type), and each
Interest Period occurring thereafter in respect of such Borrowing shall commence on the day
on which the next preceding Interest Period expires;

     (ii) if any Interest Period would otherwise end on a day other than a Business Day,
such Interest Period shall be extended to the next succeeding Business Day, unless such
Business Day falls in another calendar month, in which case such Interest Period would end
on the next preceding Business Day;

     (iii) any Interest Period which begins on the last Business Day of a calendar month or
on a day for which there is no numerically corresponding day in the calendar month at the
end of such Interest Period shall end on the last Business Day of such calendar month;

     (iv) each principal installment of the Term Loans shall have an Interest Period ending
on each installment payment date and the remaining principal balance (if any) of the Term
Loans shall have an Interest Period determined as set forth above; and

     (v) no Interest Period for Revolving Loans may extend beyond the Revolving Commitment
Termination Date, and no Interest Period for Term Loans may extend beyond the Maturity Date.

     “Investments” shall have the meaning assigned to such term in Section 7.4.

     “Issuing Bank” shall mean SunTrust Bank in its capacity as the issuer of Letters of
Credit pursuant to Section 2.22.

     “Landlord Agreement” shall mean a Landlord’s Waiver and Consent, in a form as shall be
reasonably acceptable to the Administrative Agent, between a Loan Party’s landlord and the
Administrative Agent, acknowledging and agreeing, among other things, to permit the Administrative
Agent access to the property for the purposes of exercising its remedies under the Security
Agreement or any other Collateral Document.

     “LC Commitment” shall mean that portion of the Aggregate Revolving Commitment Amount
that may be used by the Borrowers for the issuance of Letters of Credit in an aggregate face amount
(excluding, with respect to partially drawn Letters of Credit, amounts drawn thereunder and
reimbursed by the Borrowers in accordance with the terms and conditions of this Agreement) not to
exceed $5,000,000 at any time outstanding.

     “LC Disbursement” shall mean a payment made by the Issuing Bank pursuant to a Letter
of Credit.

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     “LC Documents” shall mean all applications, agreements and instruments relating to the
Letters of Credit but excluding the Letters of Credit.

     “LC Exposure” shall mean, at any time, the sum of (i) the aggregate undrawn amount of
all outstanding Letters of Credit at such time, plus (ii) the aggregate amount of all LC
Disbursements that have not been reimbursed by or on behalf of the Borrowers at such time. The LC
Exposure of any Lender shall be its Pro Rata Share of the total LC Exposure at such time.

     “Lenders” shall have the meaning assigned to such term in the opening paragraph of
this Agreement.

     “Lender Insolvency Event” shall mean that (i) a Lender or its Parent Company is
insolvent, or is generally unable to pay its debts as they become due, or admits in writing its
inability to pay its debts as they become due, or makes a general assignment for the benefit of its
creditors, or (ii) such Lender or its Parent Company is the subject of a bankruptcy, insolvency,
reorganization, liquidation or similar proceeding, or a receiver, trustee, conservator, intervenor
or sequestrator or the like has been appointed for such Lender or its Parent Company, or such
Lender or its Parent Company has taken any action in furtherance of or indicating its consent to or
acquiescence in any such proceeding or appointment.

     “Letter of Credit” shall mean any stand-by letter of credit issued pursuant to
Section 2.22 by the Issuing Bank for the account of the Borrowers pursuant to the LC
Commitment.

     “Leverage Ratio” shall mean, as of any date of determination, the ratio of (i)
Consolidated Total Debt as of such date to (ii) Consolidated Adjusted EBITDA for the four
consecutive Fiscal Quarters ending on or immediately prior to such date.

     “LIBOR” shall mean, for any Interest Period with respect to a Eurodollar Loan, the
rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Reuters
Screen LIBOR01 Page (or any successor page) as the London interbank offered rate for deposits in
Dollars at approximately 11:00 a.m. (London, England time), two Business Days prior to the first
day of such Interest Period for a term comparable to such Interest Period. If for any reason such
rate is not available, LIBOR shall be, for any Interest Period, the rate per annum reasonably
determined by the Administrative Agent as the rate of interest at which Dollar deposits in the
approximate amount of the Eurodollar Loan comprising part of such borrowing would be offered by the
Administrative Agent to major banks in the London interbank Eurodollar market at their request at
or about 10:00 a.m. two Business Days prior to the first day of such Interest Period for a term
comparable to such Interest Period.

     “LIBOR Index Rate Determination Date” shall mean the Closing Date and the first
(1st) Business Day of each calendar month thereafter.

     “LIBOR Index Rate” shall mean, when used in reference to any Loan or Borrowing, refers
to whether such Loan, or the Loans comprising such Borrowing, bears interest at a rate determined
by reference to the LIBOR Index Rate, which shall be that rate per annum effective on any LIBOR
Index Rate Determination Date which is equal to the quotient of:

19

 

          (i) the rate per annum equal to the offered rate for deposits in Dollars for a one (1) month
Interest Period, which rate appears on that page of Bloomberg reporting service, or such similar
service as determined by the Administrative Agent, that displays British Bankers’ Association
interest settlement rates for deposits in Dollars, as of 11: 00 A.M. (London, England time) two (2)
Business Days prior to the LIBOR Index Rate Determination Date; provided, however, that if no such
offered rate appears on such page, the rate used for such Interest Period will be the per annum
rate of interest determined by Administrative Agent to be the rate at which U.S. dollar deposits
for the Interest Period are offered to the Administrative Agent in the London Inter-Bank Market as
of 11:00 A.M. (London, England time), on the day which is two (2) Business Days prior to the LIBOR
Index Rate Determination Date, divided by

          (ii) a percentage equal to 1.00 minus the maximum reserve percentages (including any
emergency, supplemental, special or other marginal reserves) expressed as a decimal (rounded upward
to the next 1/100th of 1%) in effect on any day to which Administrative Agent is subject with
respect to any LIBOR Index Rate Borrowing pursuant to regulations issued by the Board of Governors
of the Federal Reserve System with respect to Eurocurrency funding (currently referred to as
“eurocurrency liabilities” under Regulation D). This percentage will be adjusted automatically on
and as of the effective date of any change in any reserve percentage.

     “Lien” shall mean any mortgage, pledge, security interest, lien (statutory or
otherwise), charge, encumbrance, hypothecation, assignment, deposit arrangement, or other
arrangement having the practical effect of any of the foregoing or any preference, priority or
other security agreement or preferential arrangement of any kind or nature whatsoever (including
any conditional sale or other title retention agreement and any capital lease) having the same
economic effect as any of the foregoing.

     “Loan Documents” shall mean, collectively, this Agreement, the Collateral Documents,
the LC Documents, the Advisory Fee Letter, all Notices of Borrowing, all Compliance Certificates,
all UCC Financing Statements, all stock powers and similar instruments of transfer, any promissory
notes issued hereunder and any and all other instruments, agreements, documents and writings
executed in connection with any of the foregoing, including, without limitation, any written
consents given under and in accordance with this Agreement.

     “Loan Parties” shall mean the Borrowers and the Subsidiary Loan Parties.

     “Loans” shall mean all Revolving Loans and Term Loans in the aggregate or any of them,
as the context shall require.

     “Material Adverse Effect” shall mean, with respect to any event, act, condition or
occurrence of whatever nature (including any adverse determination in any litigation, arbitration,
or governmental investigation or proceeding), whether singularly or in conjunction with any other
event or events, act or acts, condition or conditions, occurrence or occurrences whether or not
related, resulting in a material adverse change in, or a material adverse effect on, (i) the
business, results of operations, financial condition, assets or liabilities of PRGX and its
Subsidiaries taken as a whole, (ii) the ability of any Borrower (or of the Loan Parties, taken as a

20

 

whole) to perform any of their respective obligations under the Loan Documents, (iii) the
rights and remedies of the Administrative Agent, the Issuing Bank and the Lenders under any of the
Loan Documents or (iv) the legality, validity or enforceability of any of the Loan Documents.

     “Material Indebtedness” shall mean any Indebtedness (other than the Loans and Letters
of Credit) and Hedging Obligations of PRGX or any Subsidiary, individually or in an aggregate
principal amount exceeding $1,000,000. For purposes of determining the amount of attributed
Indebtedness from Hedging Obligations, the “principal amount” of any Hedging Obligations at any
time shall be the Net Mark-to-Market Exposure of such Hedging Obligations.

     “Material Domestic Subsidiary” shall mean at any time any direct or indirect Domestic
Subsidiary of PRGX (other than PRG-USA or any other Domestic Subsidiary that is a Borrower) having:
(a) assets in an amount equal to at least 5% of the total assets of PRGX and its Subsidiaries
determined on a consolidated basis as of the last day of the most recent Fiscal Quarter at such
time (excluding the assets of Foreign Subsidiaries); or (b) revenues or net income in an amount
equal to at least 5% of the total revenues or net income of PRGX and its Subsidiaries on a
consolidated basis for the 12-month period ending on the last day of the most recent Fiscal Quarter
at such time (excluding the revenues or net income of Foreign Subsidiaries). For avoidance of
doubt, the Capital Stock of a Subsidiary (whether a Domestic Subsidiary or a Foreign Subsidiary)
constitutes an asset for purposes of the computation set forth in subsection (a) of this
definition.

     “Material Foreign Subsidiary” shall mean at any time any direct or indirect Foreign
Subsidiary of PRGX having: (a) assets in an amount equal to at least 5% of the total assets of all
Foreign Subsidiaries determined on a consolidated basis as of the last day of the most recent
Fiscal Quarter at such time; or (b) revenues or net income in an amount equal to at least 5% of the
total revenues or net income of all Foreign Subsidiaries on a consolidated basis for the 12-month
period ending on the last day of the most recent Fiscal Quarter at such time. For avoidance of
doubt, the Capital Stock of a Subsidiary (whether a Domestic Subsidiary or a Foreign Subsidiary)
constitutes an asset for purposes of the computation set forth in subsection (a) of this
definition.

     “Maturity Date” shall mean, with respect to the Term Loans, the earlier of (i) January
19, 2014 or (ii) the date on which the principal amount of all outstanding Term Loans have been
declared or automatically have become due and payable (whether by acceleration or otherwise) in
accordance with this Agreement.

     “Moody’s” shall mean Moody’s Investors Service, Inc.

     “Multiemployer Plan” shall have the meaning set forth in Section 4001(a)(3) of ERISA.

     “Net Funded Debt Ratio” shall mean, on any date of determination, the ratio of (i)
Consolidated Net Funded Debt as of such date to (ii) Consolidated Adjusted EBITDA for the four
consecutive Fiscal Quarters ending on or immediately prior to such date.

     “Net Mark-to-Market Exposure” of any Person shall mean, as of any date of
determination with respect to any Hedging Obligation, the excess (if any) of all unrealized losses

21

 

over all unrealized profits of such Person arising from such Hedging Obligation. “Unrealized
losses” shall mean the fair market value of the cost to such Person of replacing the Hedging
Transaction giving rise to such Hedging Obligation as of the date of determination (assuming the
Hedging Transaction were to be terminated as of that date), and “unrealized profits” means the fair
market value of the gain to such Person of replacing such Hedging Transaction as of the date of
determination (assuming such Hedging Transaction were to be terminated as of that date).

     “Non-Defaulting Lender” shall mean, at any time, a Lender that is not a Defaulting
Lender.

     “Non-Material Domestic Subsidiary” shall mean any Domestic Subsidiary of PRGX (other
than PRG-USA or any other Domestic Subsidiary that is a Borrower) that is not a Material Domestic
Subsidiary.

     “Non-Material Foreign Subsidiary” shall mean any Foreign Subsidiary of PRGX that is
not a Material Foreign Subsidiary.

     “Non-Operating Cash” shall mean, on any date of determination, Total Liquidity less
$5,000,000.

     “Notes” shall mean, collectively, the Revolving Credit Notes and the Term Notes.

     “Notices of Borrowing” shall mean, collectively, the Notices of Revolving Borrowing
and Notices of Term Loan Borrowing.

     “Notice of Revolving Borrowing” shall have the meaning as set forth in Section
2.3.

     “Notice of Term Loan Borrowing” shall have the meaning as set forth in Section
2.5.

     “Obligations” shall mean (a) all amounts owing by the Loan Parties to the
Administrative Agent, the Issuing Bank or any Lender pursuant to or in connection with this
Agreement or any other Loan Document or otherwise with respect to any Loan or Letter of Credit
including without limitation, all principal, interest (including any interest accruing after the
filing of any petition in bankruptcy or the commencement of any insolvency, reorganization or like
proceeding relating to any Borrower, whether or not a claim for post-filing or post-petition
interest is allowed in such proceeding), all reimbursement obligations, all fees, indemnification
and reimbursement payments, reasonable costs and expenses (including all reasonable fees and
expenses of counsel to the Administrative Agent, the Issuing Bank and any Lender incurred pursuant
to this Agreement or any other Loan Document), whether direct or indirect, absolute or contingent,
liquidated or unliquidated, now existing or hereafter arising hereunder or thereunder, (b) all
Hedging Obligations owed by any Loan Party to any Lender or Affiliate of any Lender, (c) all
Treasury Management Obligations between any Loan Party and any Lender or Affiliate of any Lender
and (d) all Bank Product Obligations owed by any Loan Party to any Lender or Affiliate of any
Lender, together with all renewals, extensions, modifications or refinancings of any of the
foregoing.

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     “OFAC” shall mean the U.S. Department of the Treasury’s Office of Foreign Assets
Control.

     “Off-Balance Sheet Liabilities” of any Person shall mean, without duplication, (i) any
repurchase obligation or liability of such Person with respect to accounts or notes receivable sold
that does not create a liability on the balance sheet of such Person, (ii) any liability of such
Person under any sale and leaseback transactions that do not create a liability on the balance
sheet of such Person, (iii) any Synthetic Lease Obligation or (iv) any obligation arising with
respect to any other transaction which is the functional equivalent of or takes the place of
borrowing but which does not constitute a liability on the balance sheet of such Person.

     “OSHA” shall mean the Occupational Safety and Health Act of 1970, as amended from time
to time, and any successor statute.

     “Other Taxes” shall mean any and all present or future stamp or documentary taxes or
any other excise or property taxes, charges or similar levies arising from any payment made
hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this
Agreement or any other Loan Document.

     “Parent Company” shall mean, with respect to a Lender, the bank holding company (as
defined in Federal Reserve Board Regulation Y), if any, of such Lender, and/or any Person owning,
beneficially or of record, directly or indirectly, a majority of the shares of such Lender.

     “Participant” shall have the meaning set forth in Section 10.4(d).

     “Patriot Act” shall have the meaning set forth in Section 10.14.

     “Payment Office” shall mean the office of the Administrative Agent located at 25 Park
Place, 23rd Floor, Atlanta, Georgia 30302, or such other location as to which the
Administrative Agent shall have given written notice to the Borrowers’ Agent and the other Lenders.

     “PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in
ERISA, and any successor entity performing similar functions.

     “Permitted Acquisition” means any transaction consummated after the date hereof, in
which PRGX or any Subsidiary acquires all or substantially all of the assets or outstanding Capital
Stock of any Person (other than of another Subsidiary, to the extent permitted by Article
VII of this Agreement) or any division or business line of any Person (other than of another
Subsidiary, to the extent permitted by Article VII of this Agreement), or merges or
consolidates with any Person (other than with another Subsidiary, to the extent permitted by
Article VII of this Agreement) (with any such acquisition being referred to as an
“Acquired Business” and any such Person, division or line of business being the
“Target”), and which transaction (the “Target Transaction”) satisfies either (a) or
(b) below:

	 	(a)	 	(i) the portion of the Transaction Value of such Target Transaction that is
paid or payable in any one Fiscal Year, when combined with the sum of the portion of
the Transaction Values of all prior Permitted Acquisitions that is paid or payable in
that same Fiscal Year, shall not exceed $10,000,000 in the aggregate

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as to such Fiscal Year; and

(ii) the portion of the Earn-Out Payments of such Target Transaction that is paid or
payable in any one Fiscal Year, when combined with the sum of the portion of the
Earn-Out Payments of all prior Permitted Acquisitions that is paid or payable in
that same Fiscal Year, shall not exceed $3,500,000 in the aggregate as to such
Fiscal Year; and

(iii) the portion of the Deferred Payments of such Target Transaction that is paid
or payable in any one Fiscal Year, when combined with the sum of the portion of the
Deferred Payments of all prior Permitted Acquisitions that is paid or payable in
that same Fiscal Year, shall not exceed $3,500,000 in the aggregate as to such
Fiscal Year; and

(iv) the Transaction Value relating to such Target Transaction (regardless of when
paid or payable and whether contingent or non-contingent) shall not exceed
$20,000,000; and

(v) the following conditions shall be satisfied with respect to such Target
Transaction, as determined by the Administrative Agent in its reasonable discretion:
(A) at the closing of such Target Transaction, after giving effect thereto, no
Default or Event of Default shall have occurred and be continuing, (B) such
acquisition is not a “hostile” acquisition and has been approved by the boards of
directors of PRGX and the applicable Subsidiary and by the board of directors (or
other similar body) and/or the stockholders or other equity holders of the Target,
(C) the Target is not subject to pending insolvency proceedings, nor has it
expressed in writing its intention to commence a voluntary case or other proceeding,
to file any petition seeking liquidation, reorganization or other relief under any
federal, state or foreign bankruptcy, insolvency or other similar law or to seek the
appointment of a custodian, trustee, receiver, liquidator or other similar official
of it or any substantial part of its property, or to consent to the institution of,
or fail to contest in a timely and appropriate manner, any insolvency proceeding or
petition, (D) at least 10 Business Days prior to the closing of such Target
Transaction, the Borrowers’ Agent shall provide the Administrative Agent (which
shall promptly deliver a copy to the Lenders) pro forma financial statements of the
Target for the twelve-month period to immediately follow the closing of the
transaction, reflecting that the Target is projected to have Consolidated Adjusted
EBITDA (assuming that Consolidated Adjusted EBITDA were to be determined for the
Target and its Subsidiaries rather than PRGX and its Subsidiaries, and without
regard to adjustments for acquisition expenses) for such twelve-month period in an
amount greater than $0 (after excluding permitted non-recurring or non-cash
charges), (E) at least 10 Business Days prior to the closing of such Target
Transaction, the Borrowers’ Agent shall give written notice of such transaction to
the Administrative Agent (which shall promptly deliver a copy to the Lenders) (the
“Acquisition Notice”), which Acquisition Notice shall include either (i) the
final acquisition agreement or the then current draft of the acquisition agreement
or (ii) a reasonably detailed description of the material

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	 	 	 	terms of such Target Transaction (including, without limitation, the purchase price
and method and structure of payment), and shall be accompanied by such additional
documentation regarding the Target Transaction as the Administrative Agent shall
reasonably require (including, without limitation, financial statements or a
financial review of such Target, as applicable, for its two most recent fiscal years
in form and substance reasonably acceptable to the Administrative Agent and
unaudited fiscal year-to-date statements for the two most recent interim periods,
provided, that if such financial statements, financial reviews or unaudited fiscal
year-to-date statements (as the case may be) are not available for the Target’s most
recent two fiscal years, then the Administrative Agent, in its sole discretion, may
permit and accept the delivery of such financial statements, financial reviews or
unaudited fiscal year-to-date statements (as the case may be) comprised of a shorter
time-frame), (F) in the case of a merger where a Borrower or a Subsidiary Loan Party
is a constituent party to the merger, such Borrower or such Subsidiary Loan Party
shall be the surviving entity of any merger (unless, in the case of the Subsidiary
Loan Party merger, the Target becomes a Domestic Subsidiary and a Subsidiary Loan
Party in accordance with the terms and conditions of this Agreement), (G) the
Acquired Business shall be in a line of business reasonably related to the
then-current business of PRGX and its Subsidiaries or a line of business permitted
by Section 5.3 or Section 7.3(b), and (H) at the time it gives the
Acquisition Notice, the Borrowers’ Agent shall deliver to the Administrative Agent
(which shall promptly deliver a copy to the Lenders) (i) a Compliance Certificate
executed by a Responsible Officer of the Borrowers’ Agent, demonstrating in
sufficient detail that, as of such date, on a non-Pro Forma Basis, Borrowers’
Leverage Ratio, as shown on the financial statements most recently delivered or
required to be delivered pursuant to Section 5.1(a) or (b), as the case may
be, or, if such financial statements have not yet been delivered or required to be
delivered (including as of the Closing Date), then, in each case, as shown on the
September 30, 2009 financial statements delivered to the Administrative Agent
pursuant to Section 3.1(b)(xxix), is not greater than 1.35 : 1.00, and,
further, certifying that the representations and warranties of the Borrowers
contained herein are true and correct in all material respects, except to the extent
such representations or warranties expressly relate to an earlier date, and that the
Borrowers are in compliance with all other terms and conditions contained herein,
and (ii) a Compliance Certificate executed by a Responsible Officer of the
Borrowers’ Agent, demonstrating in sufficient detail that, on a Pro Forma Basis
(after giving effect to the Target Transaction and any Indebtedness permitted under
this Agreement and incurred in connection therewith), Borrowers’ Leverage Ratio, as
shown on the financial statements most recently delivered or required to be
delivered pursuant to Section 5.1(a) or (b), as the case may be, or, if such
financial statements have not yet been delivered or required to be delivered
(including as of the Closing Date), then, in each case, as shown on the September
30, 2009 financial statements delivered to the Administrative Agent pursuant to
Section 3.1(b)(xxix), shall be not greater than 1.10 : 1.00, and, further,
certifying that, after giving effect to the consummation of such acquisition, the
representations and warranties of the Borrowers contained herein

25

 

	 	 	 	will be true and correct in all material respects and as of the date of such
consummation, except to the extent such representations or warranties expressly
relate to an earlier date, and that the Borrowers, as of the date of such
consummation, will be in compliance with all other terms and conditions contained
herein; or
	 
	 	(b)	 	the Administrative Agent otherwise consents in writing to such Target
Transaction in its sole discretion (which consent may include Administrative Agent’s
determination, in its sole discretion, as to whether the applicable Transaction Value
of such Target Transaction shall be included or excluded in calculating applicable
Transaction Values for purposes of subsection (a) above for any subsequent Permitted
Acquisitions during the applicable Fiscal Year or thereafter).

     Strictly for reference purposes, certain (but not all) other provisions relating to Permitted
Acquisitions are located in Sections 6.6, 7.1(i) and 7.1(j) of this Agreement.

“Permitted Encumbrances” shall mean:

          (i) Liens imposed by law for taxes not yet due or which are being contested in good
faith by appropriate proceedings diligently conducted and with respect to which adequate
reserves are being maintained in accordance with GAAP;

          (ii) Statutory and common law Liens of landlords, carriers, warehousemen, mechanics,
materialmen and other Liens imposed by law in the ordinary course of business for amounts
not yet due or which are being contested in good faith by appropriate proceedings and with
respect to which adequate reserves are being maintained in accordance with GAAP;

          (iii) pledges and deposits made in the ordinary course of business in compliance with
workers’ compensation, unemployment insurance and other social security laws or regulations;

          (iv) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like
nature, in each case in the ordinary course of business;

          (v) judgment and attachment liens not giving rise to an Event of Default or Liens
created by or existing from any litigation or legal proceeding that are currently being
contested in good faith by appropriate proceedings and with respect to which adequate
reserves are being maintained in accordance with GAAP;

          (vi) customary liens and rights of set-off, revocation, refund or chargeback under
deposit agreements or under the Uniform Commercial Code or common law of banks or other
financial institutions where Borrowers or any of their respective Subsidiaries maintain
deposits or investment accounts (other than deposits or investment accounts intended as cash
collateral) in the ordinary course of business and not (i)

26

 

securing margin or similar loans against any such deposit or investment accounts or

(ii) evidenced by any deposit account control agreement; and

          (vii) easements, zoning restrictions, rights-of-way and similar encumbrances on real
property imposed by law or arising in the ordinary course of business, including leases and
subleases of real property, that do not secure any monetary obligations and do not
materially detract from the value of the affected property or materially interfere with the
ordinary conduct of business of PRGX and its Subsidiaries taken as a whole;

provided, that the term “Permitted Encumbrances” shall not include any Lien securing
Indebtedness.

“Permitted Investments” shall mean:

          (i) direct obligations of, or obligations the principal of and interest on which are
unconditionally guaranteed by, the United States (or by any agency thereof to the extent
such obligations are backed by the full faith and credit of the United States), in each case
maturing within one year from the date of acquisition thereof;

          (ii) commercial paper having the highest rating, at the time of acquisition thereof, of
S&P or Moody’s and in either case maturing within six months from the date of acquisition
thereof;

          (iii) certificates of deposit, bankers’ acceptances, time deposits maturing within 180
days of the date of acquisition thereof issued or guaranteed by or placed with, demand
deposits and money market deposit accounts issued or offered by, any domestic office of any
commercial bank organized under the laws of the United States or any state thereof which has
a combined capital and surplus and undivided profits of not less than $500,000,000 or any
Lender;

          (iv) fully collateralized repurchase agreements with a term of not more than 30 days
for securities described in clause (i) above and entered into with a financial institution
satisfying the criteria described in clause (iii) above;

          (v) mutual funds investing solely in any one or more of the Permitted Investments
described in clauses (i) through (iv) above; and

          (vi) comparable foreign investments to the Permitted Investments described in clauses (i)
through (v) above.

     “Person” shall mean any individual, partnership, firm, corporation, association, joint
venture, limited liability company, trust or other entity, or any Governmental Authority.

     “Plan” shall mean any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA,
and in respect of which any Borrower or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.

27

 

     “PRG-USA” shall have the meaning in the introductory paragraph hereof.

     “PRGX” shall have the meaning in the introductory paragraph hereof.

     “Pro Forma Basis” means, for purposes of calculating compliance with respect to a
proposed Permitted Acquisition, that such transaction shall be deemed to have occurred as of the
first day of the four Fiscal Quarter period ending as of the most recent Fiscal Quarter end
preceding the date of such transaction. For purposes of any such calculation in respect of any
Permitted Acquisition, (a) any Indebtedness incurred or assumed in connection with such transaction
that is not retired in connection with such transaction (i) shall be deemed to have been incurred
as of the first day of the applicable period and (ii) if such Indebtedness has a floating or
formula rate, shall have an implied rate of interest for the applicable period for purposes of this
definition determined by utilizing the rate which is or would be in effect with respect to such
Indebtedness as at the relevant date of determination, (b) income statement items (whether positive
or negative) and Capital Expenditures attributable to the Person or property acquired shall be
included beginning as of the first day of the applicable period and (c) no adjustments for
unrealized synergies shall be included.

     “Pro Rata Share” shall mean (i) with respect to any Commitment of any Lender at any
time, a percentage, the numerator of which shall be such Lender’s Commitment (or if such
Commitments have been terminated or expired or the Loans have been declared to be due and payable,
such Lender’s Revolving Credit Exposure or Term Loans, as applicable), and the denominator of which
shall be the sum of such Commitments of all Lenders (or if such Commitments have been terminated or
expired or the Loans have been declared to be due and payable, all Revolving Credit Exposure or
Term Loans, as applicable, of all Lenders) and (ii) with respect to all Commitments of any Lender
at any time, the numerator of which shall be the sum of such Lender’s Revolving Commitment (or if
such Revolving Commitments have been terminated or expired or the Loans have been declared to be
due and payable, such Lender’s Revolving Credit Exposure) and Term Loans and the denominator of
which shall be the sum of all Lenders’ Revolving Commitments (or if such Revolving Commitments have
been terminated or expired or the Loans have been declared to be due and payable, all Revolving
Credit Exposure of all Lenders funded under such Commitments) and Term Loans.

     “Regulation D” shall mean Regulation D of the Board of Governors of the Federal
Reserve System, as the same may be in effect from time to time, and any successor regulations.

     “Regulation T” shall mean Regulation T of the Board of Governors of the Federal
Reserve System, as the same may be in effect from time to time, and any successor regulations.

     “Regulation U” shall mean Regulation U of the Board of Governors of the Federal
Reserve System, as the same may be in effect from time to time, and any successor regulations.

     “Regulation X” shall mean Regulation X of the Board of Governors of the Federal
Reserve System, as the same may be in effect from time to time, and any successor regulations.

     “Related Parties” shall mean, with respect to any specified Person, such Person’s
Affiliates and the respective managers, administrators, trustees, partners, directors, officers,

28

 

employees, agents, advisors or other representatives of such Person and such Person’s
Affiliates.

     “Release” shall mean any release, spill, emission, leaking, dumping, injection,
pouring, deposit, disposal, discharge, dispersal, leaching or migration into the environment
(including ambient air, surface water, groundwater, land surface or subsurface strata) or within
any building, structure, facility or fixture.

     “Required Lenders” shall mean, at any time, Lenders holding 100% of the aggregate
outstanding Revolving Commitments and Term Loans at such time or if the Lenders have no Commitments
outstanding, then Lenders holding 100% of the Revolving Credit Exposure and Term Loans,
provided, however, that to the extent that any Lender is a Defaulting Lender,
such Defaulting Lender and all of its Commitments and Revolving Credit Exposure shall be excluded
for purposes of determining Required Lenders.

     “Requirement of Law” for any Person shall mean the articles or certificate of
incorporation, bylaws, partnership certificate and agreement, or limited liability company
certificate of organization and agreement, as the case may be, and other organizational and
governing documents of such Person, and any law, treaty, rule or regulation, or determination of a
Governmental Authority, in each case applicable to or binding upon such Person or any of its
property or to which such Person or any of its property is subject.

     “Responsible Officer” shall mean: (a) for purposes of the Compliance Certificate
required under Section 5.1(c) and the Borrowing Base Certificates required under
Section 3.1(b)(xiii) and Section 5.1(k), the chief executive officer, the chief
financial officer or the principal accounting officer of Borrowers’ Agent; and (b) for all other
purposes of this Agreement and the other Loan Documents, the president, the chief executive
officer, the chief financial officer, the principal accounting officer, the controller, the
treasurer or any assistant treasurer of the referenced Loan Party, or such other officer, employee
or other representative of such Loan Party as may be designated in writing by the president, chief
executive officer or the chief financial officer of such Loan Party with the consent of the
Administrative Agent.

     “Restricted Payment” shall have the meaning set forth in Section 7.5.

     “Revolving Commitment” shall mean, with respect to each Lender, the commitment of such
Lender to make Revolving Loans to the Borrowers and to acquire participations in Letters of Credit
in an aggregate principal amount not exceeding at any time the amount set forth with respect to
such Lender on Schedule II, or in the case of a Person becoming a Lender after the Closing
Date, the amount of the assigned “Revolving Commitment” as provided in the Assignment and
Acceptance executed by such Person as an assignee, as such commitment may subsequently be increased
or decreased pursuant to terms hereof.

     “Revolving Commitment Termination Date” shall mean the earliest of (i) January 19,
2014, (ii) the date on which the Revolving Commitments are terminated pursuant to Section
2.8 and (iii) the date on which all amounts outstanding under this Agreement have been declared
or have automatically become due and payable (whether by acceleration or otherwise) in accordance
with this Agreement.

     “Revolving Credit Exposure” shall mean, with respect to any Lender at any time, the
sum

29

 

of the outstanding principal amount of such Lender’s Revolving Loans and LC Exposure.

     “Revolving Credit Note” shall mean a promissory note of the Borrowers payable to the
order of a requesting Lender in the principal amount of such Lender’s Revolving Commitment, in
substantially the form of Exhibit A.

     “Revolving Loan” shall mean a loan made by a Lender to the Borrowers under its
Revolving Commitment, which shall be a LIBOR Index Rate Loan except as is otherwise set forth in
this Agreement.

     “S&P” shall mean Standard & Poor’s, a Division of the McGraw-Hill Companies.

     “Sanctioned Country” shall mean a country subject to a sanctions program identified on
the list maintained by OFAC and available at
http://www.treas.gov/offices/eotffc/ofac/sanctions/index.html, or as otherwise published
from time to time.

     “Sanctioned Person” shall mean (i) a Person named on the list of “Specially
Designated Nationals and Blocked Persons” maintained by OFAC available at
http://www.treas.gov/offices/enforcement/ofac/sdn/, or as otherwise published from time to
time, or (ii) (A) an agency of the government of a Sanctioned Country, (B) an organization
controlled by a Sanctioned Country, or (C) a person resident in a Sanctioned Country, to the extent
subject to a sanctions program administered by OFAC.

     “Security Agreement” shall mean the Security Agreement, dated as of the date hereof,
made by the Loan Parties in favor of the Administrative Agent for the benefit of the Credit
Providers.

     “Solvent” shall mean, with respect to any Person on a particular date, that on such
date (a) the fair value of the property of such Person is greater than the total amount of
liabilities, including subordinated and contingent liabilities, of such Person; (b) the present
fair saleable value of the assets of such Person is not less than the amount that will be required
to pay the probable liability of such Person on its debts and liabilities, including subordinated
and contingent liabilities as they become absolute and matured; (c) such Person does not intend to,
and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay
as such debts and liabilities mature; and (d) such Person is not engaged in a business or
transaction, and is not about to engage in a business or transaction, for which such Person’s
property would constitute an unreasonably small capital. The amount of contingent liabilities
(such as litigation, guaranties and pension plan liabilities) at any time shall be computed as the
amount that, in light of all the facts and circumstances existing at the time, represents the
amount that would reasonably be expected to become an actual or matured liability.

     “Subsidiary” shall mean, with respect to any Person (the “parent”), any
corporation, partnership, joint venture, limited liability company, association or other entity the
accounts of which would be consolidated with those of the parent in the parent’s consolidated
financial statements if such financial statements were prepared in accordance with GAAP as of such
date, as well as any other corporation, partnership, joint venture, limited liability company,
association or other entity (i) of which securities or other ownership interests representing more
than 50% of

30

 

the equity or more than 50% of the ordinary voting power, or in the case of a partnership,
more than 50% of the general partnership interests are, as of such date, owned, controlled or held,
or (ii) that is, as of such date, otherwise controlled, by the parent or one or more subsidiaries
of the parent or by the parent and one or more subsidiaries of the parent. Unless otherwise
indicated, all references to “Subsidiary” hereunder shall mean a Subsidiary of PRGX.

     “Subsidiary Guaranty Agreement” shall mean the Subsidiary Guaranty Agreement, dated as
of the date hereof and substantially in the form of Exhibit D, among the Borrowers, certain
other Subsidiaries and the Administrative Agent for the benefit of the Credit Providers.

     “Subsidiary Guaranty Supplement” shall mean any Subsidiary Guaranty Supplement
substantially in the form of Annex I to the Subsidiary Guaranty Agreement, made by a Subsidiary of
PRGX in favor of the Administrative Agent for the benefit of the Credit Providers.

     “Subsidiary Loan Party” shall mean any Subsidiary (other than PRG-USA or any other
Subsidiary that is a Borrower) that executes or becomes a party to the Subsidiary Guaranty
Agreement.

     “Synthetic Lease” shall mean a lease transaction under which the parties intend that
(i) the lease will be treated as an “operating lease” by the lessee pursuant to Statement of
Financial Accounting Standards No. 13, as amended and (ii) the lessee will be entitled to various
tax and other benefits ordinarily available to owners (as opposed to lessees) of like property.

     “Synthetic Lease Obligations” shall mean, with respect to any Person, the sum of (i)
all remaining rental obligations of such Person as lessee under Synthetic Leases which are
attributable to principal and, without duplication, (ii) all rental and purchase price payment
obligations of such Person under such Synthetic Leases assuming such Person exercises the option to
purchase the lease property at the end of the lease term.

     “Target” shall have the meaning provided in the definition of the term Permitted
Acquisition.

     “Taxes” shall mean any and all present or future taxes, levies, imposts, duties,
deductions, charges or withholdings imposed by any Governmental Authority.

     “Term Loan” shall have the meaning set forth in Section 2.5.

     “Term Loan Commitment” shall mean, with respect to each Lender, the commitment of such
Lender to make Term Loans to the Borrowers in an aggregate principal amount not exceeding the
amount set forth with respect to such Lender on Schedule II, or in the case of a Person
becoming a Lender after the Closing Date, the amount of the assigned “Term Loan Commitment” as
provided in the Assignment and Acceptance executed by such Person as an assignee, as such
commitment may subsequently be increased or decreased pursuant to terms hereof.

     “Term Note” shall mean a promissory note of the Borrowers payable to the order of a
requesting Lender in the principal amount of such Lender’s Term Loan Commitment on the Closing
Date, in substantially the form of Exhibit B.

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     “Total Liquidity” shall mean, as of any date of determination, for any Person on a
consolidated basis, the sum of (i) cash (comprised solely of Dollars) plus (ii) Cash Equivalents,
provided, however, that, in each case as to clauses (i) and (ii), all such cash and Cash
Equivalents are not subject to any Liens other than Permitted Encumbrances and other Liens
permitted under this Agreement and the other Loan Documents.

     “Transaction Value” shall mean, as to any Permitted Acquisition, the aggregate cash
consideration actually paid or payable in connection with such Permitted Acquisition, including,
but not limited to, Up-Front Cash, Deferred Payments, Earn-Out Payments and any post-closing
purchase price adjustments (but excluding any reasonable and customary non-compete payments).

     “Treasury Management Obligations” shall mean, collectively, all obligations and other
liabilities of any Loan Parties pursuant to any agreements governing the provision to such Loan
Parties of treasury or cash management services, including deposit accounts, funds transfer,
automated clearing house, zero balance accounts, returned check concentration, controlled
disbursement, lockbox, account reconciliation and reporting and trade finance services.

     “Type”, when used in reference to a Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
LIBOR Index Rate or the Base Rate.

     “UCC” shall mean the Uniform Commercial Code in effect from to time in the State of
Georgia.

     “Up-Front Cash” shall mean cash paid at closing (including any pre-closing
downpayment) in connection with a Permitted Acquisition.

     “Wells Fargo” shall mean Wells Fargo Foothill, Inc., a California corporation.

     “Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA.

     Section 1.2. Classifications of Loans and Borrowings. For purposes of this Agreement,
Loans may be classified and referred to by Class (e.g. a “Revolving Loan” or “Term Loan”) or by
Type (e.g. a “LIBOR Index Rate Loan” or “Base Rate Loan”) or by Class and Type (e.g. “Revolving
LIBOR Index Rate Loan”). Borrowings also may be classified and referred to by Class (e.g.
“Revolving Borrowing”) or by Type (e.g. “Base Rate Borrowing” or a “LIBOR Index Rate Borrowing”) or
by Class and Type (e.g. “Revolving Base Rate Borrowing” or a “Revolving LIBOR Index Rate
Borrowing”).

     Section 1.3. Accounting Terms and Determination. Unless otherwise defined or
specified herein, all accounting terms used herein shall be interpreted, all accounting
determinations hereunder shall be made, and all financial statements required to be delivered
hereunder shall be prepared, in accordance with GAAP as in effect from time to time, applied on a
basis consistent with the most recent audited consolidated financial statements of PRGX and its Subsidiaries delivered
pursuant to Section 5.1(a); provided, that if the Borrowers’ Agent notifies

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the Administrative Agent that the Borrowers wish to amend any covenant in Article VI to
eliminate the effect of any change in GAAP on the operation of such covenant (or if the
Administrative Agent notifies the Borrowers’ Agent that the Required Lenders wish to amend
Article VI for such purpose), then the Borrowers’ compliance with such covenant shall be
determined on the basis of GAAP in effect immediately before the relevant change in GAAP became
effective, until either such notice is withdrawn or such covenant is amended in a manner
satisfactory to the Borrowers and the Required Lenders.

     Section 1.4. Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”. In the
computation of periods of time from a specified date to a later specified date, the word “from”
means “from and including” and the word “to” means “to but excluding”. Unless the context requires
otherwise (i) any definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document as it was
originally executed or as it may from time to time be amended, restated, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth
herein), (ii) any reference herein to any Person shall be construed to include such Person’s
successors and permitted assigns, (iii) the words “hereof”, “herein” and “hereunder” and words of
similar import shall be construed to refer to this Agreement as a whole and not to any particular
provision hereof, (iv) all references to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles, Sections, Exhibits and Schedules to this Agreement, (v) all
references to a specific time shall be construed to refer to the time in the city and state of the
Administrative Agent’s principal office, unless otherwise indicated, and (vi) the terms “assets”
and “property” shall be construed as synonyms.

ARTICLE II

AMOUNT AND TERMS OF THE COMMITMENTS

     Section 2.1. General Description of Facilities. Subject to and upon the terms and
conditions herein set forth, (i) the Lenders hereby establish in favor of the Borrowers a revolving
credit facility pursuant to which each Lender severally agrees (to the extent of such Lender’s
Revolving Commitment) to make Revolving Loans to the Borrowers in
accordance with Section
2.2, (ii) the Issuing Bank agrees to issue Letters of Credit in accordance with Section
2.22, and (iii) each Lender agrees to purchase a participation interest in the Letters of
Credit pursuant to the terms and conditions hereof; provided, that in no event shall the
aggregate principal amount of all outstanding Revolving Loans and outstanding LC Exposure exceed at
any time the lesser of (a) the Aggregate Revolving Commitment Amount from time to time in effect or
(b) the Borrowing Base; and (v) each Lender severally agrees to make a Term Loan to the Borrowers in a principal
amount of such Lender’s Term Loan Commitment on the Closing Date.

     Section 2.2. Revolving Loans. Subject to the terms and conditions set forth herein,
each Lender severally agrees to make Revolving Loans, ratably in proportion to its Pro Rata Share,
to the Borrowers, from time to time during the Availability Period, in an aggregate

33

 

principal amount outstanding at any time that will not result in (a) such Lender’s Revolving Credit Exposure
exceeding such Lender’s Revolving Commitment or (b) the aggregate Revolving Credit Exposures of all
Lenders exceeding the lesser of (i) the Aggregate Revolving Commitment Amount or (ii) the Borrowing
Base. Subject to the foregoing conditions, during the Availability Period, the Borrowers shall be
entitled to borrow, prepay and reborrow Revolving Loans in accordance with the terms and conditions
of this Agreement; provided, that the Borrowers may not borrow or reborrow should there
exist a Default or Event of Default.

     Section 2.3. Procedure for Revolving Borrowings. The Borrowers’ Agent shall give the
Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each
Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Revolving
Borrowing”) prior to 11:00 a.m. one (1) Business Day prior to the requested date of each
Borrowing; provided that, so long as there is only one Lender, such Notice of Revolving Borrowing
instead may be given prior to 11:00 a.m. on the requested Borrowing date. Each Notice of Revolving
Borrowing shall be irrevocable and shall: (i) specify the aggregate principal amount of such
Borrowing, (ii) specify the date of such Borrowing (which shall be a Business Day), and (iii)
certify that there is availability under the Borrowing Base after giving effect to such Borrowing.
Each Revolving Borrowing shall consist entirely of LIBOR Index Rate Loans, except as is otherwise
set forth in this Agreement. The aggregate principal amount of each Borrowing shall not be less
than $100,000 or a larger multiple of $100,000. Promptly following the receipt of a Notice of
Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of
the details thereof and the amount of such Lender’s Revolving Loan to be made as part of the
requested Revolving Borrowing.

     Section 2.4. [Intentionally Omitted]

     Section 2.5. Term Loan Commitments. Subject to the terms and conditions set forth
herein, each Lender severally agrees to make loans (each, a “Term Loan”) to the Borrowers
on the Closing Date in a principal amount equal to the Term Loan Commitment of such Lender as of
the Closing Date; provided, that if for any reason the full amount of such Lender’s Term
Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof at such time
shall automatically be cancelled. The Term Loans shall be LIBOR Index Rate Loans, except as is
otherwise set forth in this Agreement. The execution and delivery of this Agreement by the
Borrowers and the satisfaction of all conditions precedent pursuant to Section 3.1 shall be
deemed to constitute the Borrowers’ request to borrow the Term Loans on the Closing Date,
provided, that the Administrative Agent may, in its sole discretion, condition any request
by Borrowers to borrow the Term Loans upon the Borrowers’ Agent giving the Administrative Agent
written notice (or telephonic notice promptly confirmed in writing) of each Term Loan Borrowing substantially in
the form of Exhibit 2.5 (a “Notice of Term Loan Borrowing”) prior to 11:00 a.m. on
the requested date of the Term Loan Borrowing. The Notice of Term Loan Borrowing shall be
irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing and (ii) the
date of such Borrowing (which shall be a Business Day).

     Section 2.6. Funding of Borrowings.

          (a) Each Lender will make available each Loan to be made by it hereunder on the proposed date
thereof by wire transfer in immediately available funds by 1:00 p.m. to the

34

 

Administrative Agent at the Payment Office. The Administrative Agent will make such Loans available to the Borrowers by
promptly crediting the amounts that it receives, in like funds by the close of business on such
proposed date, to the Designated SunTrust Account; provided, however, on the Closing Date,
Administrative Agent will make such Loans by effecting a wire transfer of such amounts to such
account(s) designated by the Borrowers in the Funds Disbursement Letter.

          (b) Unless the Administrative Agent shall have been notified by any Lender prior to 11:00 a.m.
on the date of a Borrowing in which such Lender is to participate that such Lender will not make
available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative
Agent may assume that such Lender has made such amount available to the Administrative Agent on
such date, and the Administrative Agent, in reliance on such assumption, may make available to the
Borrowers on such date a corresponding amount. If such corresponding amount is not in fact made
available to the Administrative Agent by such Lender on the date of such Borrowing, the
Administrative Agent shall be entitled to recover such corresponding amount on demand from such
Lender together with interest at the Federal Funds Rate until the second Business Day after such
demand and thereafter at the Base Rate. If such Lender does not pay such corresponding amount
forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly
notify the Borrowers’ Agent, and the Borrowers shall promptly pay such corresponding amount to the
Administrative Agent together with interest at the rate specified for such Borrowing. Nothing in
this subsection shall be deemed to relieve any Lender from its obligation to fund its Pro Rata
Share of any Borrowing hereunder or to prejudice any rights which the Borrowers may have against
any Lender as a result of any default by such Lender hereunder.

          (c) All Revolving Borrowings shall be made by the Lenders on the basis of their respective Pro
Rata Shares. No Lender shall be responsible for any default by any other Lender in its obligations
hereunder, and each Lender shall be obligated to make its Loans provided to be made by it
hereunder, regardless of the failure of any other Lender to make its Loans hereunder.

     Section 2.7. Interest.

          (a) Each Borrowing initially shall be of the Type specified in the applicable Notice of
Borrowing. Except as is otherwise set forth in this Agreement, each Borrowing shall consist of
LIBOR Index Rate Loans.

          (b) On the expiration of any Interest Period in respect of any LIBOR Index Rate Borrowing,
unless such Borrowing is repaid as provided herein, the Borrowers shall be automatically deemed to
have elected to continue such Borrowing as a LIBOR Index Rate Borrowing.

     Section 2.8. Optional Reduction and Termination of Commitments.

          (a) Unless previously terminated, all Revolving Commitments and LC Commitments shall terminate
on the Revolving Commitment Termination Date. The Term Loan

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Commitments shall terminate on the
Closing Date upon the making of the Term Loans pursuant to Section 2.5.

          (b) Subject to subsection (c) below, upon at least three (3) Business Days’ prior written
notice (or telephonic notice promptly confirmed in writing) from the Borrowers’ Agent to the
Administrative Agent (which notice shall be irrevocable except as set forth in subsection (c)
below), the Borrowers may reduce the Aggregate Revolving Commitments in part or terminate the
Aggregate Revolving Commitments in whole; provided, that (i) any partial reduction shall
apply to reduce proportionately and permanently the Revolving Commitment of each Lender, (ii) any
partial reduction pursuant to this Section 2.8 shall be in an amount of at least $100,000
and any larger multiple of $100,000, and (iii) no such reduction shall be permitted which would
reduce the Aggregate Revolving Commitment Amount to an amount less than the outstanding Revolving
Credit Exposures of all Lenders, provided, however, in the case of a termination of the Aggregate
Revolving Commitments in whole, this clause (iii) shall apply only after giving effect to any
payments made on the effective date of such termination in respect of the Obligations and any LC
Cash Collateralization made concurrently therewith. Any such reduction in the Aggregate Revolving
Commitment Amount below the sum of the principal amount of the LC Commitment shall result in a
proportionate reduction (rounded to the next lowest integral multiple of $100,000) in the LC
Commitment. Once reduced or terminated, the Aggregate Revolving Commitments may not be increased or
reinstated, as the case may be. Each such reduction of the Aggregate Revolving Commitments shall
reduce the Revolving Commitment of each Lender proportionately in accordance with its Pro Rata
Share thereof.

          (c) Any notice of termination of the Aggregate Revolving Commitments in whole delivered by the
Borrowers’ Agent pursuant to subsection (b) above may state that such notice is conditioned upon
the consummation of financing that will refinance the Indebtedness under this Agreement, in which
case such notice may be revoked by the Borrowers if such condition is not satisfied (by notice from
the Borrowers’ Agent to the Administrative Agent on or prior to the specified effective date), and
if such notice is revoked then, anything to the contrary contained herein notwithstanding, the
failure to terminate the Aggregate Revolving Commitments on the date specified in such notice shall
not constitute an Event of Default.

          (d) With the written approval of the Administrative Agent, the Borrowers may terminate (on a
non-ratable basis) the unused amount of the Revolving Commitment of a Defaulting Lender upon not
less than five (5) Business Days’ prior notice to the Administrative Agent (which will promptly
notify the Lenders thereof), and in such event the provisions of Section 2.26 will apply to all amounts thereafter paid by the Borrowers for the
account of any such Defaulting Lender under this Agreement (whether on account of principal,
interest, fees, indemnity or other amounts), provided that such termination will not be
deemed to be a waiver or release of any claim the Borrowers, the Administrative Agent, the Issuing
Bank or any Lender may have against such Defaulting Lender.

     Section 2.9. Repayment of Loans.

          (a) The outstanding principal amount of all Revolving Loans shall be due and payable by
Borrowers on a joint and several basis (together with accrued and unpaid interest

36

 

thereon) on the
Revolving Commitment Termination Date, provided, however, that, at the Borrowers’ election, any
outstanding Letters of Credit may be Cash Collateralized for so long as any LC Exposure related to
or arising from any such Letters of Credit is outstanding, by the Borrowers depositing in an
account with the Administrative Agent, in the name of the Administrative Agent and for the benefit
of the Issuing Bank and the Lenders, an amount in cash equal to 105% of any such LC Exposure as of
such date plus any accrued and unpaid fees thereon. Such deposit shall be held by the
Administrative Agent as collateral for the payment and performance of the obligations of the
Borrowers under this Agreement with respect to any LC Exposure related to or arising from any such
Letters of Credit, which shall otherwise survive the repayment of the Loans. The Administrative
Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over
such account. The Borrowers agree to execute any documents and/or certificates reasonably
requested by the Administrative Agent to effectuate the intent of this paragraph. Other than any
interest earned on the investment of such deposits, which investments shall be made at the option
and sole discretion of the Administrative Agent and at the Borrowers’ risk and expense, such
deposits shall not bear interest. Interest and profits, if any, on such investments shall
accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to
reimburse the Issuing Bank for LC Disbursements for which it had not been reimbursed and to the
extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the
Borrowers for the LC Exposure at such time or, if the maturity of the Loans has been accelerated,
with the consent of the Required Lenders, be applied to satisfy other obligations of the Borrowers
under this Agreement and the other Loan Documents.

          (b) The Borrowers unconditionally, jointly and severally promise to pay to the Administrative
Agent for the account of each Lender the then unpaid principal amount of the Term Loan of such
Lender in installments payable on the dates set forth below, with each such installment being in
the aggregate principal amount for all Lenders set forth opposite such date below (and on such
other date(s) and in such other amounts as may be required from time to time pursuant to this
Agreement):

	 	 	 	 	 
	Installment Date	 	Aggregate Principal Amount
	March 31, 2010
	 	$	750,000.00	 
	June 30, 2010
	 	$	750,000.00	 
	September 30, 2010
	 	$	750,000.00	 
	December 31, 2010
	 	$	750,000.00	 
	March 31, 2011
	 	$	750,000.00	 
	June 30, 2011
	 	$	750,000.00	 
	September 30, 2011
	 	$	750,000.00	 
	December 31, 2011
	 	$	750,000.00	 
	March 31, 2012
	 	$	750,000.00	 
	June 30, 2012
	 	$	750,000.00	 
	September 30, 2012
	 	$	750,000.00	 
	December 31, 2012
	 	$	750,000.00	 
	March 31, 2013
	 	$	750,000.00	 
	June 30, 2013
	 	$	750,000.00	 
	September 30, 2013
	 	$	750,000.00	 
	December 31, 2013
	 	$	750,000.00	 
	January 19, 2014
	 	$	3,000,000.00	 

37

 

provided, that, to the extent not previously paid, the aggregate unpaid principal balance
of the Term Loans shall be due and payable on the Maturity Date.

     Section 2.10. Evidence of Indebtedness. (a) Each Lender shall maintain in accordance
with its usual practice appropriate records evidencing the Indebtedness of the Borrowers to such
Lender resulting from each Loan made by such Lender from time to time, including the amounts of
principal and interest payable thereon and paid to such Lender from time to time under this
Agreement. The Administrative Agent shall maintain appropriate records in which shall be recorded
(i) the Revolving Commitment and Term Loan Commitment of each Lender, (ii) the amount of each Loan
made hereunder by each Lender and Type thereof and the Interest Period applicable thereto, (iii)
the date and amount of any principal or interest due and payable or to become due and payable from
the Borrowers to each Lender hereunder in respect of such Loans and (iv) both the date and amount
of any sum received by the Administrative Agent hereunder from the Borrowers in respect of the
Loans and each Lender’s Pro Rata Share thereof. The entries made in such records shall be prima
facie evidence of the existence and amounts of the obligations of the Borrowers therein recorded;
provided, that the failure or delay of any Lender or the Administrative Agent in
maintaining or making entries into any such record or any error therein shall not in any manner
affect the obligation of the Borrowers to repay the Loans (both principal and unpaid accrued
interest) of such Lender in accordance with the terms of this Agreement.

          (b) This Agreement evidences the obligation of the Borrowers to repay the Loans and is being
executed as a “noteless” credit agreement. However, at the request of any Lender at any time, each
Borrower agrees that it will prepare, execute and deliver to such Lender a Revolving Credit Note or
a Term Note, or both, as the case may be, payable to the order of such Lender (or, if requested by
such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such
promissory note and interest thereon shall at all times (including after assignment permitted
hereunder) be represented by one or more promissory notes in such form payable to the order of the
payee named therein (or, if such promissory note is a registered note, to such payee and its
registered assigns).

     Section 2.11. Optional Prepayments. The Borrowers shall have the right at any time
and from time to time to prepay any
Borrowing, in whole or in part, without premium or penalty, by giving irrevocable written
notice from the Borrowers’ Agent (or telephonic notice promptly confirmed in writing) to the
Administrative Agent no later than one Business Day prior to the date of such prepayment. Each
such notice shall be irrevocable and shall specify the proposed date of such prepayment and the
principal amount of each Borrowing or portion thereof to be prepaid. Upon receipt of any such
notice, the Administrative Agent shall promptly notify each affected Lender of the contents thereof
and of such Lender’s Pro Rata Share of any such prepayment. If such notice is given, the aggregate
amount specified in such notice shall be due and payable on the date designated in such notice,
together with accrued interest to such date on the amount so prepaid in accordance with Section
2.13(d). Each partial prepayment of any Loan shall be in an amount that would be permitted in
the case of an advance of a Revolving Borrowing of the same Type pursuant to Section 2.2.
Each optional prepayment of a Borrowing

38

 

shall be applied ratably to the Loans comprising such
Borrowing, and in the case of an optional prepayment of a Term Loan Borrowing, to principal
installments in order of maturity, unless the Borrowers’ Agent otherwise specifies.

     Section 2.12. Mandatory Prepayments.

          (a) Within five (5) Business Days of receipt by PRGX or any Subsidiary of cash proceeds of any
sale or disposition by PRGX or such Subsidiary of any of its assets other than to a Borrower or a
Subsidiary, to the extent permitted by this Agreement, or cash proceeds from any casualty insurance
policies or eminent domain, condemnation or similar proceedings, other than cash proceeds from
sales of inventory or equipment in the ordinary course of business, in each case, in an aggregate
amount exceeding $100,000, Borrowers shall prepay the Obligations in an amount equal to all such
cash proceeds, net of commissions and other reasonable and customary transaction costs, fees and
expenses (including, without limitation, amounts used to retire liens on the property transferred,
transfer taxes and income taxes) properly attributable to such transaction and payable by PRGX or
such Subsidiary in connection therewith (in each case, paid to non-Affiliates), provided, however,
with respect to cash proceeds of casualty insurance policies, PRGX and its Subsidiaries shall be
permitted to utilize such cash proceeds to repair and/or replace any such affected assets so long
as no Event of Default has occurred or is continuing. Any such prepayment shall be applied in
accordance with paragraph (d) below.

          (b) If PRGX or any Subsidiary issues any Indebtedness or equity securities (other than (i)
Indebtedness permitted under Section 7.1, (ii) equity securities issued by a Subsidiary to
PRGX or another Subsidiary and (iii) equity issuances upon the exercise of stock options granted
under an equity incentive plan of PRGX) for a consideration consisting of cash, in each case, in an
aggregate amount exceeding $100,000, then no later than the Business Day following the date of
receipt of the cash proceeds thereof, Borrowers shall prepay the Obligations in an amount equal to
all such cash proceeds, net of underwriting discounts and commissions and other reasonable costs
paid to non-Affiliates in connection therewith. Any such prepayment shall be applied in accordance
with Section 2.12(d).

          (c) Within thirty (30) days after the date in which the financial statements are delivered in
accordance with Section 5.1(a) for the Fiscal Year (commencing with the Fiscal
Year ending December 31, 2010), the Borrowers shall prepay the Obligations in an amount equal
to 50% of Excess Cash Flow if the Borrowers’ Leverage Ratio is greater than to 0.75 : 1.00.
Calculations relating to determination of the Borrowers’ Leverage Ratio and the amount of payments
of Excess Cash Flow shall be made as of the end of each Fiscal Year (commencing with the Fiscal
Year ending December 31, 2010) based upon the annual audited financial statements of PRGX and its
Subsidiaries delivered by the Borrowers pursuant to Section 5.1(a).

          (d) Any prepayments made by the Borrowers pursuant to Sections 2.12(a), (b) or
(c) above shall be applied as follows: first, to Administrative Agent’s fees and
reimbursable expenses then due and payable pursuant to any of the Loan Documents; second,
to all reimbursable expenses of the Lenders and all fees and reimbursable expenses of the Issuing
Bank then due and payable pursuant to any of the Loan Documents, pro rata to the Lenders and the
Issuing Bank based on their respective pro rata shares of such fees and expenses; third, to
interest

39

 

and fees then due and payable hereunder, pro rata to the Lenders based on their respective
pro rata shares of such interest and fees; fourth, to the principal balance of the Term
Loans, until the same shall have been paid in full, pro rata to the Lenders based on their Pro Rata
Shares of the Term Loans, and applied to installments of the Term Loans in inverse order of
maturity; fifth, to the principal balance of the Revolving Loans, until the same shall have
been paid in full, pro rata to the Lenders based on their respective Revolving Commitments and
sixth, to Cash Collateralize the Letters of Credit in accordance with Section
2.22(g) in an amount in cash equal to 105% of the LC Exposure as of such date plus any accrued
and unpaid fees thereon, provided, however, that clauses fifth and sixth in this
subsection (d) shall not apply to prepayments made by the Borrowers pursuant to Section
2.12(c) unless an Event of Default exits and is continuing. The Revolving Commitments of the
Lenders shall not be permanently reduced by the amount of any prepayments made pursuant to clauses
fifth and sixth above, unless an Event of Default has occurred and is continuing
and the Required Lenders holding Revolving Commitments so request. Upon Borrowers’ Agent’s written
request, all mandatory prepayments made by Borrowers pursuant to Section 2.12 shall be held
by the Administrative Agent as Cash Collateral for the benefit of the Lenders and the Issuing Bank
pending expiration of the then applicable Interest Period if the Borrowers’ Agent has a reasonable
basis for believing that, in so doing, the Borrowers will avoid or mitigate the payment of any
material amount of interest rate breakage fees which would otherwise result from an immediate
application of such prepayment amounts.

          (e) If at any time the Revolving Credit Exposure of all Lenders exceeds the Aggregate
Revolving Commitment Amount, as reduced pursuant to Section 2.8 or otherwise, the Borrowers
shall immediately repay Revolving Loans in an amount equal to such excess, together with all
accrued and unpaid interest on such excess amount and any amounts due under Section 2.19.
Each prepayment shall be applied first to the Base Rate Loans to the full extent thereof, and next
to LIBOR Index Rate Loans to the full extent thereof. If after giving effect to prepayment of all
Revolving Loans, the Revolving Credit Exposure of all Lenders exceeds the Aggregate Revolving
Commitment Amount, the Borrowers shall deposit in an account with the Administrative Agent, in the
name of the Administrative Agent and for the benefit of the Issuing Bank and the Lenders, an amount
in cash equal to such excess plus any accrued and unpaid fees thereon to be held as collateral for
the LC Exposure. Such account shall be administered in accordance with Section 2.22(g)
hereof.

          (f) If at any time, the Revolving Credit Exposure of all Lenders shall exceed the Borrowing
Base, then the Borrowers shall immediately prepay Revolving Loans in an amount sufficient to
eliminate such excess. Each prepayment shall be applied first to the Base Rate Loans to the full
extent thereof, and next to LIBOR Index Rate Loans to the full extent thereof. If after giving
effect to prepayment of all Revolving Loans, the Revolving Credit Exposure of all Lenders exceeds
the Borrowing Base, the Borrowers shall deposit in an account with the Administrative Agent, in the
name of the Administrative Agent and for the benefit of the Issuing Bank and the Lenders, an amount
in cash equal to such excess plus any accrued and unpaid fees thereon to be held as collateral for
the LC Exposure. Such account shall be administered in accordance with Section 2.22(g)
hereof.

     Section 2.13. Interest on Loans.

40

 

          (a) The Borrowers shall pay interest on each Base Rate Loan at the Base Rate in effect from
time to time and on each LIBOR Index Rate Loan at the LIBOR Index Rate for the applicable Interest
Period in effect for such Loan, plus, in each case, the Applicable Margin in effect from time to
time.

          (b) [Intentionally Omitted].

          (c) Notwithstanding clause (a) above, while an Event of Default exists, at the option of the
Required Lenders, and after acceleration, the Borrowers shall pay interest (“Default
Interest”) with respect to (i) all LIBOR Index Rate Loans at the LIBOR Index Rate plus the
Applicable Margin, plus an additional 2% per annum, until the last day of the applicable Interest
Period and (ii) all Base Rate Loans and all other Obligations hereunder (other than Loans), at the
Base Rate, plus the Applicable Margin (which, notwithstanding anything to contrary in this
Agreement, while an Event of Default exists, shall be at Level IV as set forth in Schedule
I), plus an additional 2% per annum, until the last day of the applicable Interest Period.

          (d) Interest on the principal amount of all Loans shall accrue from and including the date
such Loans are made to but excluding the date of any repayment thereof and shall be payable monthly
in arrears on the first Business Day of each month and on the Revolving Commitment Termination Date
or the Maturity Date, as the case may be. All Default Interest shall be payable on demand.

          (e) The Administrative Agent shall determine, in accordance with this Agreement, each interest
rate applicable to the Loans hereunder and shall promptly notify the Borrowers and the Lenders of
such rate in writing (or by telephone, promptly confirmed in writing). Any such determination
shall be presumptively correct for all purposes, absent manifest error.

     Section 2.14. Fees.

          (a) The Borrowers shall pay to SunTrust Robinson Humphrey fees in the amounts and at the times
more specifically set forth in the Advisory Fee Letter.

          (b) The Borrowers shall pay to the Administrative Agent for its own account a closing fee
equal to $225,000.00 on the Closing Date. In the event that the transactions evidenced by this
Agreement close on the Closing Date, the $50,000 work fee previously paid by Borrowers to the
Administrative Agent will be credited to the closing fee to be paid on the Closing Date.

          (c) The Borrowers agree to pay to the Administrative Agent for the account of each Lender a
commitment fee, which shall accrue at the Applicable Percentage per annum (determined daily in
accordance with Schedule I) on the daily amount of the unused Revolving Commitment of such
Lender during the Availability Period. For purposes of computing commitment fees with respect to
the Revolving Commitments, the Revolving Commitment of each Lender shall be deemed used to the
extent of the outstanding Revolving Loans and LC Exposure of such Lender.

41

 

          (d) The Borrowers agree to pay (i) to the Administrative Agent, for the account of each
Lender, a letter of credit fee with respect to its participation in each Letter of Credit, which
shall accrue at a rate per annum equal to the Applicable Margin for LIBOR Index Rate Loans then in
effect on the average daily amount of such Lender’s LC Exposure attributable to such Letter of
Credit during the period from and including the date of issuance of such Letter of Credit to but
excluding the date on which such Letter of Credit expires or is drawn in full (including without
limitation any LC Exposure that remains outstanding after the Revolving Commitment Termination
Date) and (ii) at any time that any Lender other than the Administrative Agent (or its Affiliate)
holds any Revolving Commitment, to the Issuing Bank for its own account a fronting fee, which shall
accrue at the rate of 0.25% per annum on the average daily amount of the LC Exposure (excluding any
portion thereof attributable to unreimbursed LC Disbursements) during the Availability Period (or
until the date that such Letter of Credit is irrevocably cancelled, whichever is later).
Notwithstanding the foregoing, if the Required Lenders elect to increase the interest rate on the
Loans to the Default Interest pursuant to Section 2.13(c), the rate per annum used to
calculate the letter of credit fee pursuant to clause (i) above shall automatically be increased to
Level IV as set forth in Schedule I, plus an additional 2% per annum until the last day of
the applicable Interest Period.

          (e) Accrued fees under paragraphs (c) and (d) above shall be payable quarterly in arrears on
the first Business Day of each January, April, July and October, commencing on April 1, 2010 and on
the Revolving Commitment Termination Date (and if later, the date the Loans and LC Exposure shall
be repaid in their entirety); provided further, that any such fees accruing after
the Revolving Commitment Termination Date shall be payable on demand.

          (f) Anything herein to the contrary notwithstanding, during such period as a Lender is a
Defaulting Lender, such Defaulting Lender will not be entitled to any fees accruing during such
period pursuant to Sections 2.14(c) and (d) (without prejudice to the rights of the
Lenders other than Defaulting Lenders in respect of such fees), or any amendment fees hereafter
offered to any Lender, and the pro rata payment provisions of Section 2.20
will automatically be deemed adjusted to reflect the provisions of this Section.

     Section 2.15. Computation of Interest and Fees.

     All computations of interest and fees hereunder shall be made on the basis of a year of 360
days for the actual number of days (including the first day but excluding the last day) occurring
in the period for which such interest or fees are payable (to the extent computed on the basis of
days elapsed). Each determination by the Administrative Agent of an interest rate or fee hereunder
shall be made in good faith and, except for manifest error, shall be final and presumptively
correct for all purposes.

     Section 2.16. Inability to Determine Interest Rates. If prior to the commencement of
any Interest Period for any LIBOR Index Rate Borrowing,

     (i) the Administrative Agent shall have determined (which determination shall be
presumptively correct for all purposes) that, by reason of circumstances affecting

42

 

the relevant interbank market, adequate means do not exist for ascertaining LIBOR for such
Interest Period, or

     (ii) the Administrative Agent shall have received notice from the Required Lenders that
either the LIBOR Index Rate does not adequately and fairly reflect the cost to such Lenders
(or Lender, as the case may be) of making, funding or maintaining their (or its, as the case
may be) LIBOR Index Rate Loans for such Interest Period,

the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in
writing) to the Borrowers’ Agent and to the Lenders as soon as practicable thereafter. Until the
Administrative Agent shall notify the Borrowers’ Agent and the Lenders that the circumstances
giving rise to such notice no longer exist, (i) the obligations of the Lenders to make LIBOR Index
Rate Revolving Loans or to continue outstanding Loans as LIBOR Index Rate Loans shall be suspended
and (ii) all such affected Loans shall be converted into Base Rate Loans on the last day of the
then current Interest Period applicable thereto unless the Borrowers prepay such Loans in
accordance with this Agreement. Unless the Borrowers’ Agent notifies the Administrative Agent at
least one Business Day before the date of any LIBOR Index Rate Loan for which a Notice of Revolving
Borrowing has previously been given that the Borrowers elect not to borrow on such date, then such
Revolving Borrowing shall be made as a Base Rate Borrowing.

     Section 2.17. Illegality. If any Change in Law shall make it unlawful or impossible
for any Lender to make, maintain or fund any LIBOR Index Rate Loan and such Lender shall so notify
the Administrative Agent, the Administrative Agent shall promptly give notice thereof to the
Borrowers’ Agent and the other Lenders, whereupon until such Lender notifies the Administrative
Agent and the Borrowers that the circumstances giving rise to such suspension no longer exist, the
obligation of such Lender to make LIBOR Index Rate Loans, or to continue outstanding Loans as LIBOR
Index Rate Loans, shall be suspended. In the case of the making of a LIBOR Index Rate Borrowing,
such Lender’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving
Borrowing for the same Interest Period and if the affected LIBOR Index Rate Borrowing is then
outstanding, such Loan shall be converted to a Base Rate Loan either (i) on the last day of the
then current
Interest Period applicable to such LIBOR Index Rate Loan if such Lender may lawfully continue
to maintain such Loan to such date or (ii) immediately if such Lender shall determine that it may
not lawfully continue to maintain such LIBOR Index Rate Loan to such date. Notwithstanding the
foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent,
designate a different Applicable Lending Office if such designation would avoid the need for giving
such notice and if such designation would not otherwise be disadvantageous to such Lender in the
good faith exercise of its discretion.

     Section 2.18. Increased Costs.

     (a) If any Change in Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit or similar
requirement that is not otherwise included in the determination of the LIBOR Index Rate
hereunder against assets of, deposits with or for the account of, or credit extended by, any

43

 

Lender (except any such reserve requirement reflected in the LIBOR Index Rate) or the
Issuing Bank; or

     (ii) impose on any Lender or on the Issuing Bank or the eurodollar interbank market any
other condition affecting this Agreement, any LIBOR Index Rate Loans made by such Lender or
any Letter of Credit or any participation therein;

and the result of either of the foregoing is to increase the cost to such Lender of making,
continuing or maintaining a LIBOR Index Rate Loan or to increase the cost to such Lender or the
Issuing Bank of participating in or issuing any Letter of Credit or to reduce the amount received
or receivable by such Lender or the Issuing Bank hereunder (whether of principal, interest or any
other amount), then the Borrowers shall promptly pay, upon written notice to the Borrowers’ Agent
from and demand by such Lender on the Borrowers (with a copy of such notice and demand to the
Administrative Agent), to the Administrative Agent for the account of such Lender, within five (5)
Business Days after the date of such notice and demand, additional amount or amounts sufficient to
compensate such Lender or the Issuing Bank, as the case may be, for such additional costs incurred
or reduction suffered.

          (b) If any Lender or the Issuing Bank shall have determined that on or after the date of this
Agreement any Change in Law regarding capital requirements has or would have the effect of reducing
the rate of return on such Lender’s or the Issuing Bank’s capital (or on the capital of such
Lender’s or the Issuing Bank’s parent corporation) as a consequence of its obligations hereunder or
under or in respect of any Letter of Credit to a level below that which such Lender or the Issuing
Bank or such Lender’s or the Issuing Bank’s parent corporation could have achieved but for such
Change in Law (taking into consideration such Lender’s or the Issuing Bank’s policies or the
policies of such Lender’s or the Issuing Bank’s parent corporation with respect to capital
adequacy), then, from time to time, within five (5) Business Days after receipt by the Borrowers’
Agent of written demand by such Lender (with a copy thereof to the Administrative Agent), the
Borrowers shall pay to such Lender such additional amounts as will compensate such Lender or the
Issuing Bank or such Lender’s or the Issuing Bank’s parent corporation for any such reduction
suffered.

          (c) A certificate of a Lender or the Issuing Bank setting forth the amount or amounts
necessary to compensate such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s
parent corporation, as the case may be, specified in paragraph (a) or (b) of this Section
2.18 shall be delivered to the Borrowers’ Agent (with a copy to the Administrative Agent) and
shall be presumptively correct, absent manifest error. The Borrowers shall pay any such Lender or
the Issuing Bank, as the case may be, such amount or amounts within five (5) Business Days after
receipt thereof.

          (d) Failure or delay on the part of any Lender or the Issuing Bank to demand compensation
pursuant to this Section 2.18 shall not constitute a waiver of such Lender’s or the Issuing
Bank’s right to demand such compensation; provided, that the Borrowers shall not be required to
compensate Lenders or Issuing Bank under this Section for any increased costs or reductions
incurred more than three (3) months prior to the date that the any Lender, the Issuing Bank or the
Administrative Agent notifies Borrowers’ Agent of such increased costs or reductions and of the
intention to claim compensation therefor; provided, further, that if the Change in Law

44

 

giving rise to such increased costs or reductions is retroactive, then such three (3) month
period shall be extended to include the period of such retroactive effect.

     Section 2.19. Funding Indemnity. In the event of (a) the payment of any principal of
a LIBOR Index Rate Loan other than on the last day of the Interest Period applicable thereto
(including as a result of an Event of Default), (b) the continuation of a LIBOR Index Rate Loan
other than on the last day of the Interest Period applicable thereto, or (c) the failure by the
Borrowers to borrow, prepay, convert or continue any LIBOR Index Rate Loan on the date specified in
any applicable notice (regardless of whether such notice is withdrawn or revoked), then, in any
such event, the Borrowers shall compensate each Lender, within five (5) Business Days after written
demand from such Lender, for any loss, cost or expense attributable to such event. In the case of
a LIBOR Index Rate Loan, such loss, cost or expense shall be deemed to consist of an amount
determined by such Lender to be the excess, if any, of (A) the amount of interest that would have
accrued on the principal amount of such LIBOR Index Rate Loan if such event had not occurred at the
LIBOR Index Rate applicable to such LIBOR Index Rate Loan for the period from the date of such
event to the last day of the then current Interest Period therefor (or in the case of a failure to
borrow, convert or continue, for the period that would have been the Interest Period for such LIBOR
Index Rate Loan) over (B) the amount of interest that would accrue on the principal amount of such
LIBOR Index Rate Loan for the same period if the LIBOR Index Rate were set on the date such LIBOR
Index Rate Loan was prepaid or converted or the date on which the Borrowers failed to borrow,
convert or continue such LIBOR Index Rate Loan. A certificate as to any additional amount payable
under this Section 2.19 submitted to the Borrowers by any Lender (with a copy to the
Administrative Agent) shall be presumptively correct, absent manifest error. Notwithstanding
anything to the contrary herein, Administrative Agent and the Lenders acknowledge and agree that as
of the Closing Date, no such loss, cost or expense would result from the events described in
subsections (a) through (c) above, provided, however, Borrowers acknowledge and agree that the
indemnity provided in this Section 2.19 shall be enforceable by the Administrative Agent
and Lenders against the Borrowers in the event that any such loss, cost or expense may be
attributed to the events described in subsections (a) through (c) above as a result of a change in
law, policy or similar circumstances arising after the Closing Date.

     Section 2.20. Taxes.

          (a) Any and all payments by or on account of any obligation of the Borrowers hereunder shall
be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes;
provided, that if the Borrowers shall be required to deduct any Indemnified Taxes or Other
Taxes from such payments, then (i) the sum payable shall be increased as necessary so that after
making all required deductions (including deductions applicable to additional sums payable under
this Section 2.20) the Administrative Agent, any Lender or the Issuing Bank (as the case
may be) shall receive an amount equal to the sum it would have received had no such deductions been
made, (ii) the Borrowers shall make such deductions and (iii) the Borrowers shall pay the full
amount deducted to the relevant Governmental Authority in accordance with applicable law.

          (b) In addition, the Borrowers shall pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.

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          (c) The Borrowers shall indemnify the Administrative Agent, each Lender and the Issuing Bank,
within five (5) Business Days after written demand therefor, for the full amount of any Indemnified
Taxes or Other Taxes paid by the Administrative Agent, such Lender or the Issuing Bank, as the case
may be, on or with respect to any payment by or on account of any obligation of the Borrowers
hereunder (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
amounts payable under this Section 2.20) and any penalties, interest and reasonable
expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other
Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A
certificate as to the amount of such payment or liability delivered to the Borrowers’ Agent by a
Lender or the Issuing Bank, or by the Administrative Agent on its own behalf or on behalf of a
Lender or the Issuing Bank, shall be presumptively correct absent manifest error. If the Borrowers
determine in good faith that a reasonable basis exists for contesting any Indemnified Taxes or
Other Taxes for which indemnification has been demanded hereunder, the relevant Lender or Issuing
Bank shall use its commercially reasonable efforts to cooperate with the Borrowers in contesting
such Indemnified Taxes or Other Taxes at the Borrowers’ expense if so requested by the Borrowers’
Agent in writing, provided, that Borrowers shall pay to any such Lender or Issuing Bank the full
amount of any Indemnified Taxes or Other Taxes if so required by the relevant Governmental
Authority or if such Lender or Issuing Bank would otherwise incur any penalties, fines, interest,
liabilities or other obligations as a result of such Taxes not being paid pending the outcome of
any such contestation.

          (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by any
Borrower to a Governmental Authority, Borrowers’ Agent shall deliver to the Administrative Agent
the original or a certified copy of a receipt issued by such Governmental Authority evidencing such
payment, a copy of the return reporting such payment or other evidence of such payment reasonably
satisfactory to the Administrative Agent.

          (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax
under the Code or any treaty to which the United States is a party, with respect to payments under
this Agreement shall deliver to the Borrowers’ Agent (with a copy to the Administrative Agent), at
the time or times prescribed by applicable law, such properly
completed and executed documentation prescribed by applicable law or reasonably requested by
the Borrowers as will permit such payments to be made without withholding or at a reduced rate.
Without limiting the generality of the foregoing, each Foreign Lender agrees that it will deliver
to the Administrative Agent and the Borrowers’ Agent (or in the case of a Participant, to the
Lender from which the related participation shall have been purchased), as appropriate, two (2)
duly completed copies of (i) Internal Revenue Service Form W-8 ECI, or any successor form thereto,
certifying that the payments received from the Borrowers hereunder are effectively connected with
such Foreign Lender’s conduct of a trade or business in the United States; or (ii) Internal Revenue
Service Form W-8 BEN, or any successor form thereto, certifying that such Foreign Lender is
entitled to benefits under an income tax treaty to which the United States is a party which reduces
the rate of withholding tax on payments of interest; or (iii) Internal Revenue Service Form W-8
BEN, or any successor form prescribed by the Internal Revenue Service, together with a certificate
(A) establishing that the payment to the Foreign Lender qualifies as “portfolio interest” exempt
from U.S. withholding tax under Code section 871(h) or 881(c), and (B) stating that (1) the Foreign
Lender is not a bank for purposes of Code section 881(c)(3)(A), or the obligation of the
Borrowers hereunder is not, with respect to such Foreign Lender, a loan

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agreement entered into in
the ordinary course of its trade or business, within the meaning of that section; (2) the Foreign
Lender is not a 10% shareholder of any Borrower within the meaning of Code section 871(h)(3) or
881(c)(3)(B); and (3) the Foreign Lender is not a controlled foreign corporation that is related to
any Borrower within the meaning of Code section 881(c)(3)(C); or (iv) such other Internal Revenue
Service forms as may be applicable to the Foreign Lender, including Forms W-8 IMY or W-8 EXP. Each
such Foreign Lender shall deliver to the Borrowers’ Agent and the Administrative Agent such forms
on or before the date that it becomes a party to this Agreement (or in the case of a Participant,
on or before the date such Participant purchases the related participation). In addition, each
such Foreign Lender shall deliver such forms promptly upon the obsolescence or invalidity of any
form previously delivered by such Foreign Lender. Each such Foreign Lender shall promptly notify
the Borrowers’ Agent and the Administrative Agent at any time that it determines that it is no
longer in a position to provide any previously delivered certificate to the Borrowers (or any other
form of certification adopted by the Internal Revenue Service for such purpose).

     Section 2.21. Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

          (a) The Borrowers shall make each payment required to be made by it hereunder (whether of
principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under
Sections 2.18, 2.19 or 2.20, or otherwise) prior to 1:00 p.m., Atlanta,
Georgia time, on the date when due, in immediately available funds, free and clear of any defenses,
rights of set-off, counterclaim, or withholding or deduction of Indemnified Taxes. Any amounts
received after such time on any date may, in the discretion of the Administrative Agent, be deemed
to have been received on the next succeeding Business Day for purposes of calculating interest
thereon. All such payments shall be made to the Administrative Agent at the Payment Office, except
payments to be made directly to the Issuing Bank as expressly provided herein and except that
payments pursuant to Sections 2.18, 2.19 and 2.20 and 10.3 shall be
made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such
payments received by it for the account of any other Person to the appropriate recipient promptly
following receipt thereof. If any payment hereunder shall be due on a day that is not a Business
Day, the date for payment shall be extended to the next succeeding Business Day, and, in the
case of any payment accruing interest, interest thereon shall be made payable for the period of
such extension. All payments hereunder shall be made in Dollars.

          (b) If at any time insufficient funds are received by and available to the Administrative
Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then
due hereunder, such funds shall be applied: first, to Administrative Agent’s fees and
reimbursable expenses then due and payable pursuant to any of the Loan Documents; second,
to all reimbursable expenses of the Lenders and all fees and reimbursable expenses of the Issuing
Bank then due and payable pursuant to any of the Loan Documents, pro rata to the Lenders and the
Issuing Bank based on their respective pro rata shares of such fees and expenses; third, to
interest and fees then due and payable hereunder, pro rata to the Lenders based on their respective
pro rata shares of such interest and fees; and fourth, to the payment of principal of the
Loans and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to
such parties.

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          (c) If any Lender shall, by exercising any right of set-off or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Loans or participations in
LC Disbursements that would result in such Lender receiving payment of a greater proportion of the
aggregate amount of its Revolving Credit Exposure, Term Loans and accrued interest and fees thereon
than the proportion received by any other Lender with respect to its Revolving Credit Exposure or
Term Loans, then the Lender receiving such greater proportion shall purchase (for cash at face
value) participations in the Revolving Credit Exposure and Term Loans of other Lenders to the
extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in
accordance with the aggregate amount of principal of and accrued interest on their respective
Revolving Credit Exposure and Term Loans; provided, that (i) if any such participations are
purchased and all or any portion of the payment giving rise thereto is recovered, such
participations shall be rescinded and the purchase price restored to the extent of such recovery,
without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any
payment made by the Borrowers pursuant to and in accordance with the express terms of this
Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Revolving Credit Exposure and Term Loans to any assignee or
participant, other than to any Borrower or any Subsidiary or Affiliate thereof (as to which the
provisions of this paragraph shall apply). Each Borrower consents to the foregoing and agrees, to
the extent it may effectively do so under applicable law, that any Lender acquiring a participation
pursuant to the foregoing arrangements may exercise against the Borrowers rights of set-off and
counterclaim with respect to such participation as fully as if such Lender were a direct creditor
of the Borrowers in the amount of such participation.

          (d) Unless the Administrative Agent shall have received notice from the Borrowers’ Agent prior
to the date on which any payment is due to the Administrative Agent for the account of the Lenders
or the Issuing Bank hereunder that the Borrowers will not make such payment, the Administrative
Agent may assume that the Borrowers have made such payment on such date in accordance herewith and
may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case
may be, the amount or amounts due. In such event, if the Borrowers have not in fact made such
payment, then each of the Lenders or the Issuing Bank,
as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand
the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day from
and including the date such amount is distributed to it to but excluding the date of payment to the
Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the
Administrative Agent in accordance with banking industry rules on interbank compensation.

          (e) If any Lender shall fail to make any payment required to be made by it hereunder, then the
Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply
any amounts thereafter received by the Administrative Agent for the account of such Lender to
satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are
fully paid.

     Section 2.22. Letters of Credit.

          (a) During the Availability Period, the Issuing Bank, in reliance upon the agreements of the
other Lenders pursuant to Section 2.22(d), agrees to issue, at the request of the
Borrowers’ Agent, Letters of Credit for the account of the Borrowers on the terms and conditions

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hereinafter set forth; provided, that (i) each Letter of Credit shall expire not later than
the date one year after the date of issuance of such Letter of Credit (or in the case of any
renewal or extension thereof, one year after such renewal or extension); (ii) each Letter of Credit
shall be in a stated amount of at least $100,000, or such lesser amount as may be agreed to in
writing by the Issuing Bank; and (iii) the Borrowers may not request any Letter of Credit, if,
after giving effect to such issuance (A) the aggregate LC Exposure would exceed the LC Commitment
or (B) the aggregate Revolving Credit Exposure of all Lenders would exceed the lesser of (i) the
Aggregate Revolving Commitment Amount or (ii) the Borrowing Base. Each Lender shall be deemed to,
and hereby irrevocably and unconditionally agrees to, purchase from the Issuing Bank without
recourse a participation in each Letter of Credit equal to such Lender’s Pro Rata Share of the
aggregate amount available to be drawn under such Letter of Credit on the date of issuance with
respect to all other Letters of Credit. Each issuance of a Letter of Credit shall be deemed to
utilize the Revolving Commitment of each Lender by an amount equal to the amount of such
participation.

          (b) To request the issuance of a Letter of Credit (or any amendment, renewal or extension of
an outstanding Letter of Credit), the Borrowers’ Agent shall give the Issuing Bank and the
Administrative Agent irrevocable written notice at least three (3) Business Days prior to the
requested date of such issuance specifying the date (which shall be a Business Day) such Letter of
Credit is to be issued (or amended, extended or renewed, as the case may be), the expiration date
of such Letter of Credit, the amount of such Letter of Credit, the name and address of the
beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or
extend such Letter of Credit. In addition to the satisfaction of the conditions in Article
III, the issuance of such Letter of Credit (or any amendment which increases the amount of such
Letter of Credit) will be subject to the further conditions that such Letter of Credit shall be in
such form and contain such terms as the Issuing Bank shall approve and that the Borrowers shall
have executed and delivered any additional applications, agreements and instruments relating to
such Letter of Credit as the Issuing Bank shall reasonably require; provided, that in
the event of any conflict between such applications, agreements or instruments and this
Agreement, the terms of this Agreement shall control.

          (c) At least two Business Days prior to the issuance of any Letter of Credit, the Issuing Bank
will confirm with the Administrative Agent (by telephone or in writing) that the Administrative
Agent has received such notice and if not, the Issuing Bank will provide the Administrative Agent
with a copy thereof. Unless the Issuing Bank has received notice from the Administrative Agent on
or before the Business Day immediately preceding the date the Issuing Bank is to issue the
requested Letter of Credit (1) directing the Issuing Bank not to issue the Letter of Credit because
such issuance is not then permitted hereunder because of the limitations set forth in Section
2.22(a) or that one or more conditions specified in Article III are not then satisfied,
then, subject to the terms and conditions hereof, the Issuing Bank shall, on the requested date,
issue such Letter of Credit in accordance with the Issuing Bank’s usual and customary business
practices.

          (d) The Issuing Bank shall examine all documents purporting to represent a demand for payment
under a Letter of Credit promptly following its receipt thereof. The Issuing Bank shall notify the
Borrowers’ Agent and the Administrative Agent of such demand for payment and whether the Issuing
Bank has made or will make an LC Disbursement thereunder;

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provided, that any failure to
give or delay in giving such notice shall not relieve the Borrowers of their obligation to
reimburse the Issuing Bank and the Lenders with respect to such LC Disbursement. The Borrowers
shall be jointly, severally, irrevocably and unconditionally obligated to reimburse the Issuing
Bank for any LC Disbursements paid by the Issuing Bank in respect of such drawing, without
presentment, demand or other formalities of any kind. Unless the Borrowers’ Agent shall have
notified the Issuing Bank and the Administrative Agent prior to 11:00 a.m. on the Business Day
immediately prior to the date on which such drawing is honored that the Borrowers intend to
reimburse the Issuing Bank for the amount of such drawing in funds other than from the proceeds of
Revolving Loans, the Borrowers’ Agent shall be deemed to have timely given a Notice of Revolving
Borrowing to the Administrative Agent requesting the Lenders to make a LIBOR Index Rate Borrowing
on the date on which such drawing is honored in an exact amount due to the Issuing Bank;
provided, that for purposes solely of such Borrowing, the conditions precedent set forth in
Section 3.2 hereof shall not be applicable. The Administrative Agent shall notify the
Lenders of such Borrowing in accordance with Section 2.3, and each Lender shall make the
proceeds of its LIBOR Index Rate Loan included in such Borrowing available to the Administrative
Agent for the account of the Issuing Bank in accordance with Section 2.6. The proceeds of
such Borrowing shall be applied directly by the Administrative Agent to reimburse the Issuing Bank
for such LC Disbursement.

          (e) If for any reason a LIBOR Index Rate Borrowing may not be (as determined in the sole
discretion of the Administrative Agent), or is not, made in accordance with the foregoing
provisions, then each Lender (other than the Issuing Bank) shall be obligated to fund the
participation that such Lender purchased pursuant to subsection (a) in an amount equal to its Pro
Rata Share of such LC Disbursement on and as of the date which such LIBOR Index Rate Borrowing
should have occurred. Each Lender’s obligation to fund its participation shall be absolute and
unconditional and shall not be affected by any circumstance, including without limitation (i) any
setoff, counterclaim, recoupment, defense or other right that such Lender or any other Person may
have against the Issuing Bank or any other Person for any
reason whatsoever, (ii) the existence of a Default or an Event of Default or the termination
of the Aggregate Revolving Commitments, (iii) any adverse change in the condition (financial or
otherwise) of any Borrower or any Subsidiary, (iv) any breach of this Agreement by any Borrower or
any other Lender, (v) any amendment, renewal or extension of any Letter of Credit or (vi) any other
circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. On
the date that such participation is required to be funded, each Lender shall promptly transfer, in
immediately available funds, the amount of its participation to the Administrative Agent for the
account of the Issuing Bank. Whenever, at any time after the Issuing Bank has received from any
such Lender the funds for its participation in a LC Disbursement, the Issuing Bank (or the
Administrative Agent on its behalf) receives any payment on account thereof, the Administrative
Agent or the Issuing Bank, as the case may be, will distribute to such Lender its Pro Rata Share of
such payment; provided, that if such payment is required to be returned for any reason to
the Borrowers or to a trustee, receiver, liquidator, custodian or similar official in any
bankruptcy proceeding, such Lender will return to the Administrative Agent or the Issuing Bank any
portion thereof previously distributed by the Administrative Agent or the Issuing Bank to it.

          (f) To the extent that any Lender shall fail to pay any amount required to be paid pursuant to
paragraphs (d) or (e) of this Section on the due date therefor, such Lender shall

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pay interest to
the Issuing Bank (through the Administrative Agent) on such amount from such due date to the date
such payment is made at a rate per annum equal to the Federal Funds Rate; provided, that if
such Lender shall fail to make such payment to the Issuing Bank within three (3) Business Days of
such due date, then, retroactively to the due date, such Lender shall be obligated to pay interest
on such amount at the rate set forth in Section 2.13(d).

          (g) If any Event of Default shall occur and be continuing, on the Business Day that the
Borrowers’ Agent receives notice from the Administrative Agent or the Required Lenders demanding
the deposit of Cash Collateral pursuant to this paragraph, the Borrowers shall deposit in an
account with the Administrative Agent, in the name of the Administrative Agent and for the benefit
of the Issuing Bank and the Lenders, an amount in cash equal to 105% of the LC Exposure as of such
date plus any accrued and unpaid fees thereon; provided, that the obligation to deposit
such Cash Collateral shall become effective immediately, and such deposit shall become immediately
due and payable, without demand or notice of any kind, upon the occurrence of any Event of Default
with respect to the Borrowers described in clause (g) or (h) of Section 8.1. Such deposit
shall be held by the Administrative Agent as collateral for the payment and performance of the
obligations of the Borrowers under this Agreement. The Administrative Agent shall have exclusive
dominion and control, including the exclusive right of withdrawal, over such account. Each
Borrower agrees to execute any documents and/or certificates reasonably requested by the
Administrative Agent to effectuate the intent of this paragraph. Other than any interest earned on
the investment of such deposits, which investments shall be made at the option and sole discretion
of the Administrative Agent and at the Borrowers’ risk and expense, such deposits shall not bear
interest. Interest and profits, if any, on such investments shall accumulate in such account.
Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank
for LC Disbursements for which it had not been reimbursed and to the extent so applied, shall be
held for the satisfaction of the reimbursement obligations of the Borrowers for the LC Exposure at
such time or, if the maturity of the Loans has been accelerated, with the consent of the Required
Lenders, be applied to satisfy
other obligations of the Borrowers under this Agreement and the other Loan Documents. If the
Borrowers are required to provide an amount of Cash Collateral hereunder as a result of the
occurrence of an Event of Default, such amount (to the extent not so applied as aforesaid) shall be
returned to the Borrowers within three Business Days after all Events of Default have been cured or
waived.

          (h) Upon the request of any Lender, but no more frequently than quarterly, the Issuing Bank
shall deliver (through the Administrative Agent) to each Lender and the Borrowers’ Agent a report
describing the aggregate Letters of Credit then outstanding. Upon the request of any Lender from
time to time, the Issuing Bank shall deliver to such Lender any other information reasonably
requested by such Lender with respect to each Letter of Credit then outstanding.

          (i) The Borrowers’ obligation to reimburse LC Disbursements hereunder shall be joint, several,
absolute, unconditional and irrevocable and shall be performed strictly in accordance with the
terms of this Agreement under all circumstances whatsoever and irrespective of any of the following
circumstances:

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     (i) Any lack of validity or enforceability of any Letter of Credit or this
Agreement;

     (ii) The existence of any claim, set-off, defense or other right which any Borrower
or any Subsidiary or other Affiliate of any Borrower may have at any time against a
beneficiary or any transferee of any Letter of Credit (or any Persons or entities for
whom any such beneficiary or transferee may be acting), any Lender (including the
Issuing Bank) or any other Person, whether in connection with this Agreement or the
Letter of Credit or any document related hereto or thereto or any unrelated transaction;

     (iii) Any draft or other document presented under a Letter of Credit proving to be
forged, fraudulent or invalid in any respect or any statement therein being untrue or
inaccurate in any respect;

     (iv) Payment by the Issuing Bank under a Letter of Credit against presentation of a
draft or other document to the Issuing Bank that does not comply with the terms of such
Letter of Credit;

     (v) Any other event or circumstance whatsoever, whether or not similar to any of
the foregoing, that might, but for the provisions of this Section 2.22,
constitute a legal or equitable discharge of, or provide a right of setoff against, the
Borrowers’ obligations hereunder; or

     (vi) The existence of a Default or an Event of Default.

Neither the Administrative Agent, the Issuing Bank, the Lenders nor any Related Party of any of the
foregoing shall have any liability or responsibility by reason of or in connection with the
issuance or transfer of any Letter of Credit or any payment or failure to make any payment
thereunder (irrespective of any of the circumstances referred to above), or any error, omission,
interruption, loss or delay in transmission or delivery of any draft, notice or other communication
under or relating to any Letter of Credit (including any document required to make a drawing
thereunder), any error in interpretation of technical terms or any consequence arising from causes
beyond the control of the Issuing Bank; provided, that the foregoing shall not be construed
to excuse the Issuing Bank from liability to the Borrowers to the extent of any actual direct
damages (as opposed to special, indirect (including claims for lost profits or other consequential
damages), or punitive damages, claims in respect of which are hereby waived by each Borrower to the
extent permitted by applicable law) suffered by the Borrowers that are caused by the Issuing Bank’s
failure to exercise due care when determining whether drafts or other documents presented under a
Letter of Credit comply with the terms thereof. The parties hereto expressly agree, that in the
absence of gross negligence or willful misconduct on the part of the Issuing Bank (as finally
determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have
exercised due care in each such determination. In furtherance of the foregoing and without
limiting the generality thereof, the parties agree that, with respect to documents presented that
appear on their face to be in substantial compliance with the terms of a Letter of Credit, the
Issuing Bank may, in its sole discretion, either accept and make payment upon such documents
without responsibility for further investigation, regardless of any notice or

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information to the
contrary, or refuse to accept and make payment upon such documents if such documents are not in
strict compliance with the terms of such Letter of Credit.

          (j) Unless otherwise expressly agreed by the Issuing Bank and the Borrowers when a Letter of
Credit is issued and subject to applicable laws, (i) each standby Letter of Credit shall be
governed by the “International Standby Practices 1998” (ISP98) (or such later revision as may be
published by the Institute of International Banking Law & Practice on any date any Letter of Credit
may be issued), (ii) each documentary Letter of Credit shall be governed by the Uniform Customs and
Practices for Documentary Credits (2007 Revision), International Chamber of Commerce Publication
No. 600 (or such later revision as may be published by the International Chamber of Commerce on any
date any Letter of Credit may be issued) and (iii) the Borrowers shall specify the foregoing in
each letter of credit application submitted for the issuance of a Letter of Credit.

     Section 2.23. [Intentionally Omitted].

     Section 2.24. Mitigation of Obligations. If any Lender requests compensation under
Section 2.18, or if the Borrowers are required to pay any additional amount to any Lender
or any Governmental Authority for the account of any Lender pursuant to Section 2.20, then
such Lender shall use reasonable efforts to designate a different lending office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder to another of its
offices, branches or affiliates, if, in the sole judgment of such Lender, such designation or
assignment (i) would eliminate or reduce amounts payable under Section 2.18 or Section
2.20, as the case may be, in the future and (ii) would not subject such Lender to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender in any
material respect.

     Section 2.25. Replacement of Lenders. If any Lender requests compensation under
Section 2.18, or if the
Borrowers are required to pay any additional amount to any Lender or any Governmental
Authority of the account of any Lender pursuant to Section 2.20, or if any Lender is a
Defaulting Lender, then the Borrowers may, at their sole expense and effort, upon notice from the
Borrowers’ Agent to such Lender and the Administrative Agent, require such Lender to assign and
delegate, without recourse (in accordance with and subject to the restrictions set forth in
Section 10.4(b) all its interests, rights and obligations under this Agreement to an
assignee that shall assume such obligations (which assignee may be another Lender);
provided, that (i) the Borrowers’ Agent shall have received the prior written consent of
the Administrative Agent, which consent shall not be unreasonably withheld, (ii) such Lender shall
have received payment of an amount equal to the outstanding principal amount of all Loans owed to
it, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the
assignee (in the case of such outstanding principal and accrued interest) and from the Borrowers
(in the case of all other amounts) and (iii) in the case of a claim for compensation under
Section 2.18 or payments required to be made pursuant to Section 2.20, such
assignment will result in a reduction in such compensation or payments. A Lender shall not be
required to make any such assignment and delegation if, prior thereto, as a result of a waiver by
such Lender or otherwise, the circumstances entitling the Borrowers to require such assignment and
delegation cease to apply.

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     Section 2.26. Cash Collateralization of Defaulting Lender Commitment. If a Lender
becomes, and during the period it remains, a Defaulting Lender, the following provisions shall
apply with respect to any outstanding LC Exposure of such Defaulting Lender:

          (a) the Issuing Bank is hereby authorized by the Borrowers (which authorization is irrevocable
and coupled with an interest) to give, in its discretion, through the Administrative Agent, Notices
of Borrowing pursuant to Section 2.3 in such amounts and in such times as may be required
to reimburse an outstanding LC Disbursement;

          (b) the Borrowers will, not later than three (3) Business Days after demand by the
Administrative Agent (at the direction of the Issuing Bank), (a) Cash Collateralize a portion of
the obligations of the Borrowers to the Issuing Bank equal to such Defaulting Lender’s LC Exposure
or (b) make other arrangements satisfactory to the Administrative Agent, and to the Issuing Bank,
in their sole discretion to protect them against the risk of non-payment by such Defaulting Lender;
provided that no such Cash Collateralization will constitute a waiver or release of any
claim the Borrowers, the Administrative Agent, the Issuing Bank or any other Lender may have
against such Defaulting Lender, or cause such Defaulting Lender to be a Non-Defaulting Lender;

          (c) any amount paid by the Borrowers for the account of a Defaulting Lender under this
Agreement (whether on account of principal, interest, fees, indemnity payments or other amounts)
will not be paid or distributed to such Defaulting Lender, but will instead be retained by the
Administrative Agent in a segregated non-interest bearing account (the “Segregated
Account”) until the termination of the Commitments at which time the funds in such account will
be applied by the Administrative Agent, to the fullest extent permitted by law, in the following
order of priority: first to the payment of any amounts owing by such Defaulting Lender to
the Administrative Agent under this Agreement, second to the payment of any
amounts owing by such Defaulting Lender to the Issuing Bank under this Agreement,
third to the payment of post-default interest and then current interest due and payable to
the Lenders hereunder other than Defaulting Lenders, ratably among them in accordance with the
amounts of such interest then due and payable to them, fourth to the payment of fees then
due and payable to the Non-Defaulting Lenders hereunder, ratably among them in accordance with the
amounts of such fees then due and payable to them, fifth to pay principal and unreimbursed
LC Disbursements then due and payable to the Non-Defaulting Lenders hereunder ratably in accordance
with the amounts thereof then due and payable to them, sixth to the ratable payment of
other amounts then due and payable to the Non-Defaulting Lenders, and seventh to pay
amounts owing under this Agreement to such Defaulting Lender or as a court of competent
jurisdiction may otherwise direct. Nothing in this subsection (c) shall serve as a waiver of
rights of any Person against a Defaulting Lender. The Administrative Agent and Lenders acknowledge
that, provided the Borrowers comply with this Section 2.26 and no Default or Event of
Default otherwise exists or is continuing, no Default or Event of Default shall result solely from
a Defaulting Lender’s failure to comply with the terms and conditions of this Agreement.
Notwithstanding anything to the contrary herein, amounts retained by the Administrative Agent in
the Segregated Account pursuant to this subsection (c) shall not constitute payment of Obligations
by Borrowers to the Issuing Bank. Further, the Administrative Agent and Lenders acknowledge that
no interest on the amounts retained in the Segregated Account and not disbursed to the Issuing Bank
shall accrue or be owing, provided, however, for so long as any

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Revolving Loans used to fund
amounts retained in the Segregated Account remain outstanding, interest on such Revolving Loans
shall accrue and be owing in accordance with the terms and conditions of this Agreement.

     Section 2.27. Borrowers’ Agent. Each Borrower hereby appoints PRGX, and PRGX shall
act under this Agreement and the other Loan Documents, as, the agent, attorney-in-fact and legal
representative of all Borrowers for all purposes, including requesting loans and receiving account
statements and other notices and communications to Borrowers (or any of them) from Administrative
Agent on behalf of the Lenders. Borrowers acknowledge and agree that all the Obligations are
jointly and severally owing by the Borrowers. Administrative Agent may rely, and shall be fully
protected in relying, on any Notice of Borrowing, disbursement instruction, report, information or
any other notice or communication made or given by PRGX, whether in its own name, as Borrowers’
Agent, or on behalf of on behalf of one or more Borrowers, and Administrative Agent shall not have
any obligation to make any inquiry or request any confirmation from or on behalf of any other
Borrower as to the binding effect on it of any such request, instruction, report, information,
other notice or communication, nor shall the joint and several character of Borrowers’ obligations
hereunder be affected, provided, that the provisions of this Section 2.27 shall not be
construed so as to preclude any Borrower from taking actions permitted to be taken by a “Borrower”
hereunder.

ARTICLE III

CONDITIONS PRECEDENT TO LOANS AND LETTERS OF CREDIT

     Section 3.1. Conditions To Effectiveness. The obligations of the Lenders to make Loans
and the obligation of the Issuing Bank to issue any Letter of Credit hereunder shall not become
effective until the date on which each of the following conditions is satisfied (or waived in
accordance with Section 10.2).

          (a) The Administrative Agent shall have received all fees and other amounts due and payable on
or prior to the Closing Date, including reimbursement or payment of all reasonable out-of-pocket
expenses (including reasonable fees, charges and disbursements of counsel to the Administrative
Agent) required to be reimbursed or paid by the Borrowers hereunder, under any other Loan Document
and under any agreement with the Administrative Agent.

          (b) The Administrative Agent (or its counsel) shall have received the following, each to be in
form and substance satisfactory to the Administrative Agent:

          (i) a counterpart of this Agreement signed by or on behalf of each party hereto or
written evidence satisfactory to the Administrative Agent (which may include telecopy
transmission of a signed signature page of this Agreement) that such party has signed a
counterpart of this Agreement;

          (ii) duly executed Revolving Credit and Term Notes payable to such Lenders;

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          (iii) the Subsidiary Guaranty Agreement duly executed by each Subsidiary Loan Party,
such that, as of the Closing Date, the Loan Parties (i) include all Material Domestic
Subsidiaries and (ii) meet the Aggregate Subsidiary Threshold;

          (iv) the Equity Pledge Agreement, duly executed by each Borrower and each Subsidiary
Loan Party, granting a Lien on (a) 100% of the Capital Stock owned by the respective pledgor
in such Domestic Subsidiaries and (b) 65% (in the aggregate) of the Capital Stock owned by
the respective pledgor in such Foreign Subsidiaries, in each case necessary to, as of the
Closing Date, (i) include a pledge of 100% of the Capital Stock of each Material Domestic
Subsidiary (other than the Capital Stock of any Domestic Subsidiary owned directly by a
Foreign Subsidiary on the Closing Date) and 65% of the Capital Stock of each first tier
Material Foreign Subsidiary and (ii) meet the Aggregate Equity Pledge Threshold;

          (v) the Security Agreement, duly executed by each Borrower and each Subsidiary Loan
Party, granting certain Liens;

          (vi) each of the other applicable Loan Documents, in each case duly executed by the
applicable Loan Parties;

          (vii) a payoff letter, duly executed by each of Ableco and Wells Fargo in form and
substance reasonably satisfactory to the Administrative Agent;

          (viii) a certificate of the Secretary or Assistant Secretary of each Loan Party in the
form of Exhibit 3.1(b)(viii), attaching and certifying copies of its bylaws and of
the resolutions of its board of directors, or partnership agreement or limited liability
company agreement, or comparable organizational documents and authorizations, authorizing
the execution, delivery and performance of the Loan Documents to which it is a party and
certifying the name, title and true signature of each officer of such Loan Party executing
the Loan Documents to which it is a party;

          (ix) certified copies of the articles or certificate of incorporation, certificate of
organization or limited partnership, or other registered organizational documents of each
Loan Party, together with certificates of good standing or existence, as may be available
from the Secretary of State of the jurisdiction of organization of such Loan Party and each
other jurisdiction where such Loan Party is required to be qualified to do business as a
foreign corporation;

          (x) a favorable written opinion of Troutman Sanders LLP, counsel to the Loan Parties,
addressed to the Administrative Agent, the Issuing Bank and each of the Lenders, and
covering such matters relating to the Loan Parties, the Loan Documents and the transactions
contemplated therein as the Administrative Agent or the Required Lenders shall reasonably
request;

          (xi) certificates in the form of Exhibit 3.1(b)(xi), dated the Closing Date and
signed by a Responsible Officer of each Borrower, certifying that after giving effect to the
funding of the Term Loan and any initial Revolving Loan, (x) no Default or Event of Default
exists, (y) all representations and warranties of each Loan Party set forth

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in the Loan
Documents are true and correct and (z) since the date of the financial statements of the
Borrowers described in Section 4.4, there shall have been no change which has had or
would reasonably be expected to have a Material Adverse Effect;

          (xii) a duly executed Notice of Term Loan Borrowing and Notice of Revolving Borrowing;

          (xiii) a duly executed Funds Disbursement Letter;

          (xiv) certified copies of all material consents, approvals, authorizations,
registrations and filings and orders required or advisable to be made or obtained under any
Requirement of Law, or by any Contractual Obligation of each Loan Party, in connection with
the execution, delivery, performance, validity and enforceability of the Loan Documents or
any of the transactions contemplated thereby, and such consents, approvals, authorizations,
registrations, filings and orders shall be in full force and effect and all applicable
waiting periods shall have expired, and no investigation or inquiry by
any governmental authority regarding the Commitments or any transaction being financed
with the proceeds thereof shall be ongoing;

          (xv) a duly completed and executed Borrowing Base Certificate dated as of the Closing
Date reflecting Excess Availability of not less than $5,000,000 as of the Closing Date
(after giving effect to any Revolving Borrowings to be made on the Closing Date), measured
pursuant to the Eligible Accounts Receivable of the Borrowers certified by Borrowers’ Agent
in such Borrowing Base Certificate as existing as of December 31, 2009, and including such
supporting information and calculations as the Administrative Agent deems to be satisfactory
in its sole discretion;

          (xvi) certificates, dated the Closing Date and signed by a Responsible Officer of each
Borrower, confirming that (i) each Borrower and (ii) the Loan Parties on a consolidated
basis, are, in each case, Solvent before and after giving effect to the funding of the
initial Borrowings and the consummation of the transactions contemplated to occur on the
Closing Date;

          (xvii) copies of the agreements listed on Schedule 3.1(b)(xvii);

          (xviii) certificates of insurance issued on behalf of insurers of the Borrowers and all
Guarantors, describing in reasonable detail the types and amounts of insurance (property and
liability) maintained by the Borrowers and all Guarantors, naming the Administrative Agent
as loss payee and additional insured;

          (xix) satisfactory third party field audit of Borrowers;

          (xx) searches of Uniform Commercial Code filings in the jurisdiction of the chief
executive office and State of organization of each Borrower and each Guarantor and each
jurisdiction where any Collateral is located or where a filing would need to be made in
order to perfect the Administrative Agent’s security interest in the Collateral for the
benefit of the Credit Providers, copies of the financing statements on file in such
jurisdictions and evidence that no Liens exist other than Permitted Encumbrances;

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          (xxi) duly authorized UCC financing statements for each appropriate jurisdiction as is
necessary, in the Administrative Agent’s sole discretion, to perfect the Administrative
Agent’s security interest in the Collateral for the benefit of the Credit Providers;

          (xxii) searches of ownership of, and Liens on, Intellectual Property of each Borrower
and each Guarantor in the appropriate governmental offices;

          (xxiii) all instruments, stock certificates and chattel paper in the possession of any
Borrower or any Subsidiary, together with allonges, assignments or stock powers as may be
necessary or appropriate to perfect the Administrative Agent’s security interest in the
Collateral for the benefit of the Credit Providers;

          (xxiv) such duly executed consents as are necessary, in the Administrative
Agent’s sole discretion, to perfect the Administrative Agent’s security interest in the
Collateral, including, without limitation, such Acknowledgment Agreements from lessors
of real property, warehousemen and other third parties as the Administrative Agent may
require;

          (xxv) revised financial projections of Borrowers and their Subsidiaries, specifically
including any contemplated Permitted Acquisitions that might be consummated prior to January
31, 2010;

          (xxvi) reports detailing the quarterly revenue for the top three customers of Borrowers
for the Fiscal Quarters 9/30/07 through 6/30/09;

          (xxvii) completion by the Administrative Agent of diligence on the top three customers
of the Borrowers;

          (xxviii) financial and legal diligence and copies of any existing draft or final
transaction documents relating to any Permitted Acquisition that might be consummated prior
to January 31, 2010;

          (xxix) the unaudited consolidated balance sheet of PRGX and its Subsidiaries as of
September 30, 2009, and the related unaudited consolidated statements of income and cash
flows for the Fiscal Quarter and year-to-date period then ending, certified by a Responsible
Officer of Borrowers’ Agent; and

          (xxx) balance sheets of each individual Loan Party and other diligence reasonably
requested by the Administrative Agent in order to complete its Solvency analysis of each
Loan Party.

     Without limiting the generality of the provisions of Section 3.1, for purposes of
determining compliance with the conditions specified in this Section 3.1, each Lender that
has signed this Agreement shall be deemed to have consented to, approved or accepted or to be
satisfied with, each document or other matter required thereunder to be consented to or approved by
or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received
notice from such Lender prior to the proposed Closing Date specifying its objection thereto.

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     Section 3.2. Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of any Borrowing and of the Issuing Bank to issue, amend, renew or extend any Letter of
Credit is subject to the satisfaction of the following conditions:

          (a) at the time of and immediately after giving effect to such Borrowing or the issuance,
amendment, renewal or extension of such Letter of Credit, as applicable, no Default or Event of
Default shall exist;

          (b) at the time of and immediately after giving effect to such Borrowing or the issuance,
amendment, renewal or extension of such Letter of Credit, as applicable, all representations and
warranties of each Loan Party set forth in the Loan Documents shall be true and correct on and as
of the date of such Borrowing or the date of issuance, amendment,
extension or renewal of such Letter of Credit, in each case before and after giving effect
thereto, and except to the extent such representations or warranties expressly relate to an earlier
date;

          (c) since the date of the financial statements of the Borrowers described in Section
4.4, there shall have been no change which has had or would reasonably be expected to have a
Material Adverse Effect;

          (d) the Borrowers’ Agent shall have delivered the required Notice of Borrowing; and

          (e) the Administrative Agent shall have received such other documents, certificates,
information or legal opinions as the Administrative Agent or the Required Lenders may reasonably
request, all in form and substance reasonably satisfactory to the Administrative Agent or the
Required Lenders.

     Each Borrowing and each issuance, amendment, extension or renewal of any Letter of Credit
shall be deemed to constitute a representation and warranty by each Borrower on the date thereof as
to the matters specified in paragraphs (a), (b) and (c) of this Section 3.2.

     In addition to the other conditions precedent herein set forth, if any Lender is a Defaulting
Lender at the time of and immediately after giving effect to such Borrowing or the issuance,
amendment, renewal or extension of such Letter of Credit, as applicable, the Issuing Bank will not
be required to issue any Letter of Credit or to extend, renew or amend any outstanding Letter of
Credit, unless the Issuing Bank is satisfied that any exposure that would result therefrom is fully
covered or eliminated by the Borrowers Cash Collateralizing the obligations of the Borrowers in
respect of such Letter of Credit in an amount at least equal to the aggregate amount of the
obligations (contingent or otherwise) of such Defaulting Lender in respect of such Letter of
Credit, or makes other arrangements satisfactory to the Administrative Agent and the Issuing Bank
in their sole discretion to protect them against the risk of non-payment by such Defaulting Lender;
provided that no such Cash Collateralization will constitute a waiver or release of any
claim the Borrowers, the Administrative Agent, the Issuing Bank or any other Lender may have
against such Defaulting Lender, or cause such Defaulting Lender to be a Non-Defaulting Lender.

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     Section 3.3. Delivery of Documents. All of the Loan Documents, certificates, legal
opinions and other documents and papers referred to in this Article III, unless otherwise
specified, shall be delivered to the Administrative Agent for the account of each of the Lenders
and in sufficient counterparts or copies for each of the Lenders and shall be in form and substance
reasonably satisfactory in all respects to the Administrative Agent.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

     Each Borrower represents and warrants to the Administrative Agent, each Lender and the
Issuing Bank as follows:

     Section 4.1. Existence; Power. PRGX and each of its Subsidiaries (i) is duly
organized, validly existing and in good standing as a corporation, partnership or limited liability
company under the laws of the jurisdiction of its organization, except, in the case of Non-Material
Domestic Subsidiaries and Foreign Subsidiaries, where a failure to be so organized, existing and in
good standing would not reasonably be expected to result in a Material Adverse Effect, (ii) has all
requisite power and authority to carry on its business as now conducted, except, in the case of
Non-Material Domestic Subsidiaries and Foreign Subsidiaries, where a failure to maintain such power
and authority would not reasonably be expected to result in a Material Adverse Effect and (iii) is
duly qualified to do business, and is in good standing, in each jurisdiction where such
qualification is required, except where a failure to be so qualified would not reasonably be
expected to result in a Material Adverse Effect.

     Section 4.2. Organizational Power; Authorization. The execution, delivery and
performance by each Loan Party of the Loan Documents to which it is a party are within such Loan
Party’s organizational powers and have been duly authorized by all necessary organizational, and if
required, shareholder, partner or member, action. This Agreement has been duly executed and
delivered by the Borrowers, and constitutes, and each other Loan Document to which any Loan Party
is a party, when executed and delivered by such Loan Party, will constitute, valid and binding
obligations of each Borrower or such Loan Party (as the case may be), enforceable against it in
accordance with their respective terms, except as may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors’
rights generally and by general principles of equity.

     Section 4.3. Governmental Approvals; No Conflicts. The execution, delivery and
performance by the Borrowers of this Agreement, and by each Loan Party of the other Loan Documents
to which it is a party (a) do not require any consent or approval of, registration or filing with,
or any action by, any Governmental Authority, except (i) those as have been obtained or made and
are in full force and effect, (ii) filings necessary in order to perfect the Administrative Agent’s
security interest in the Collateral for the benefit of the Credit Providers and (iii) reports that
PRGX is required to file with the Securities and Exchange Commission, (b) will not violate any
Requirements of Law applicable to PRGX or any Subsidiary or any judgment, order or ruling of any
Governmental Authority applicable to PRGX or any Subsidiary, (c) will not violate or result in a
default under any material indenture, agreement or other instrument binding on PRGX or any
Subsidiary or any of their assets or give rise to a right

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thereunder to require any payment to be
made by PRGX or such Subsidiary and (d) will not result in the creation or imposition of any Lien
on any asset of PRGX or any Subsidiary, except Liens (if any) created under the Loan Documents.

     Section 4.4. Financial Statements. Borrowers, or Borrowers’ Agent as agent for the
Borrowers, has furnished to each Lender (i) the consolidated balance sheet of PRGX and its
Subsidiaries as of December 31, 2008 and the related consolidated statements of operations,
shareholders’ equity and cash flows for the Fiscal
Year then ended, audited by BDO Seidman, LLP and (ii) the unaudited consolidated balance sheet
of PRGX and its Subsidiaries as of September 30, 2009, and the related unaudited consolidated
statements of operations and cash flows for the Fiscal Quarter and year-to-date period then ending.
Such financial statements fairly present the consolidated financial condition of PRGX and its
Subsidiaries as of such dates and the consolidated results of operations for such periods in
conformity with GAAP consistently applied, subject to year end audit adjustments and the absence of
footnotes in the case of the statements referred to in clause (ii). Since December 31, 2008, there
have been no changes with respect to PRGX or its Subsidiaries which have had or would reasonably be
expected to have, singly or in the aggregate, a Material Adverse Effect.

     Section 4.5. Litigation and Environmental Matters.

          (a) No litigation, investigation or proceeding of or before any arbitrators or Governmental
Authorities is pending against or, to the knowledge of Borrowers, threatened against or affecting
PRGX or any Subsidiary (i) as to which there is a reasonable possibility of an adverse
determination that would reasonably be expected to have, either individually or in the aggregate, a
Material Adverse Effect or (ii) which in any manner draws into question the validity or
enforceability of this Agreement or any other Loan Document.

          (b) Except for the matters set forth on Schedule 4.5, neither PRGX nor any Subsidiary
(i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any
permit, license or other approval required under any Environmental Law, (ii) has become subject to
any Environmental Liability, (iii) has received notice of any claim with respect to any
Environmental Liability or (iv) knows of any basis for any Environmental Liability, and in each of
the preceding clauses, which individually or in the aggregate, would reasonably be expected to
result in a Material Adverse Effect.

     Section 4.6. Compliance with Laws and Agreements. PRGX and its Subsidiaries are in
compliance with (a) all Requirements of Law and all judgments, decrees and orders of any
Governmental Authority and (b) all indentures, agreements or other instruments binding upon it or
its properties, in case of (a) or (b) except where non-compliance, either singly or in the
aggregate, would not reasonably be expected to result in a Material Adverse Effect.

     Section 4.7. Investment Company Act, Etc. Neither PRGX nor any of its Subsidiaries is
an “investment company” or is “controlled” by an “investment company”, as such terms are defined
in, or subject to regulation under, the Investment Company Act of 1940, as amended, and none of the
Loan Parties is otherwise subject to any other regulatory scheme limiting its ability to incur debt
or requiring any approval or consent from or registration or filing with, any Governmental
Authority in connection therewith.

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     Section 4.8. Taxes. Each of PRGX and its Subsidiaries has timely filed or caused to
be filed all Federal income tax returns and all other material tax returns that are required to be
filed by it, and has paid all taxes shown to be due and payable on such returns or on any
assessments made against it or its property and all other taxes,
fees or other charges imposed on it or any of its property by any Governmental Authority,
except where: (a) the same are currently being contested in good faith by appropriate proceedings
and for which PRGX or such Subsidiary, as the case may be, has set aside on its books adequate
reserves in accordance with GAAP; or (b) such disputed taxes, fees and charges do not exceed an
aggregate amount of $100,000.00. The charges, accruals and reserves on the books of PRGX and its
Subsidiaries in respect of such taxes are adequate, and no tax liabilities that could be materially
in excess of the amount so provided are anticipated.

     Section 4.9. Margin Regulations. None of the proceeds of any of the Loans or Letters
of Credit will be used, directly or indirectly, for “purchasing” or “carrying” any “margin stock”
within the respective meanings of each of such terms under Regulation U or for any purpose that
violates the provisions of the Regulation T, U or X. Neither PRGX nor any Subsidiary is engaged
principally, or as one of its important activities, in the business of extending credit for the
purpose of purchasing or carrying “margin stock.”

     Section 4.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur
that, when taken together with all other such ERISA Events for which liability is reasonably
expected to occur, would reasonably be expected to result in a Material Adverse Effect. The
present value of all accumulated benefit obligations under each Plan (based on the assumptions used
for purposes of Statement of Financial Standards No. 87) did not, as of the date of the most recent
financial statements reflecting such amounts, exceed the fair market value of the assets of such
Plan, and the present value of all accumulated benefit obligations of all underfunded Plans (based
on the assumptions used for purposes of Statement of Financial Standards No. 87) did not, as of the
date of the most recent financial statements reflecting such amounts, exceed the fair market value
of the assets of all such underfunded Plans.

     Section 4.11. Ownership of Property.

          (a) PRGX and its Subsidiaries have good title to, or valid leasehold interests in, all of
their real and personal property material to the operation of their business, including all such
properties reflected in the most recent audited consolidated balance sheet of PRGX and its
Subsidiaries referred to in Section 4.4 or purported to have been acquired by PRGX or any
Subsidiary after said date (except as sold or otherwise disposed of in the ordinary course of
business, or otherwise in accordance with the Loan Documents), in each case free and clear of Liens
prohibited by this Agreement. All leases that individually or in the aggregate are material to the
business or operations of PRGX and its Subsidiaries are valid and subsisting and are in full force.

          (b) PRGX and each Subsidiary owns, or is licensed, or otherwise has the right, to use, all
patents, trademarks, service marks, trade names, copyrights and other intellectual property
material to its business, and the use thereof by PRGX and its Subsidiaries does not infringe in any
material respect on the rights of any other Person.

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          (c) The properties of PRGX and its Subsidiaries are insured with financially sound and
reputable insurance companies which are not Affiliates of Borrowers, in such amounts with such
deductibles and covering such risks as are customarily carried by companies engaged in similar
businesses and owning similar properties in localities where PRGX or any applicable Subsidiary
operates.

     Section 4.12. Disclosure. Borrowers have disclosed to the Lenders all agreements,
instruments, and corporate or other restrictions to which PRGX or any Subsidiary is subject, and
all other matters known to any of them, that, individually or in the aggregate, would reasonably be
expected to result in a Material Adverse Effect. None of the reports (including without limitation
all reports that PRGX is required to file with the Securities and Exchange Commission), financial
statements, certificates or other written information furnished by or on behalf of such Borrower to
the Administrative Agent or any Lender in connection with the negotiation or syndication of this
Agreement or any other Loan Document or delivered hereunder or thereunder (as modified or
supplemented by any other information so furnished) contains any material misstatement of fact or
omits to state any material fact necessary to make the statements therein, taken as a whole, in
light of the circumstances under which they were made, not misleading; provided, that with respect
to projected financial information, Borrowers represent only that such information was prepared in
good faith based upon assumptions believed to be reasonable at the time.

     Section 4.13. Labor Relations. There are no strikes, lockouts or other material labor
disputes or grievances against PRGX or any Subsidiary, or, to Borrowers’ knowledge, threatened
against or affecting PRGX or any Subsidiary, and no significant unfair labor practice, charges or
grievances are pending against PRGX or any Subsidiary, or to Borrowers’ knowledge, threatened
against any of them before any Governmental Authority. All payments due from PRGX or any
Subsidiary pursuant to the provisions of any collective bargaining agreement have been paid or
accrued as a liability on the books of PRGX or any Subsidiary, except where the failure to do so
would not reasonably be expected to have a Material Adverse Effect.

     Section 4.14. Subsidiaries. Schedule 4.14 sets forth the name of, the
ownership interest of Borrowers in, the jurisdiction of incorporation or organization of, and the
type of, each Subsidiary and identifies each Subsidiary that is a Subsidiary Loan Party, in each
case as of the Closing Date.

     Section 4.15. Solvency. After giving effect to the execution and delivery of the Loan
Documents, the making of the Loans under this Agreement, (i) each of the Borrowers and (ii) the
Loan Parties on a consolidated basis, are, in each case, Solvent.

     Section 4.16. . [Intentionally Omitted].

     Section 4.17. OFAC. Neither PRGX nor any Subsidiary nor any Affiliate of a Borrower
or any Guarantor (i) is a Sanctioned Person, (ii) has more than 15% of its assets in Sanctioned
Countries, or (iii) derives more than 15% of its
operating income from investments in, or transactions with Sanctioned Persons or Sanctioned
Countries. No part of the proceeds of any Loans hereunder will be used directly or indirectly to
fund any operations in, finance any investments or activities in or make any payments to, a
Sanctioned Person or a Sanctioned

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Country or for any payments to any governmental official or
employee, political party, official of a political party, candidate for political office, or anyone
else acting in an official capacity, in order to obtain, retain or direct business or obtain any
improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as
amended.

     Section 4.18. Patriot Act. Neither PRGX nor any of its Subsidiaries is an “enemy” or
an “ally of the enemy” within the meaning of Section 2 of the Trading with the Enemy Act of the
United States of America (50 U.S.C. App. §§ 1 et seq.), as amended or any enabling legislation or
executive order relating thereto. Neither PRGX nor any or its Subsidiaries is in violation of (a)
the Trading with the Enemy Act, as amended, (b) any of the foreign assets control regulations of
the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling
legislation or executive order relating thereto or (c) the Patriot Act. None of the Loan Parties
(i) is a blocked person described in section 1 of the Anti-Terrorism Order or (ii) to the best of
its knowledge, engages in any dealings or transactions, or is otherwise associated, with any such
blocked person.

ARTICLE V

AFFIRMATIVE COVENANTS

          Each Borrower covenants and agrees that so long as any Lender has a Commitment hereunder, the
Issuing Bank has a commitment to issue any Letter of Credit hereunder or any Obligation remains
unpaid or outstanding (except to the extent such Obligations consist solely of inchoate indemnity
obligations, Treasury Management Obligations and/or Cash Collateralized Letters of Credit complying
with the terms and conditions of this Agreement):

     Section 5.1. Financial Statements and Other Information. Borrowers’ Agent will
deliver to the Administrative Agent and each Lender:

          (a) as soon as available and in any event within 90 days after the end of each Fiscal Year, a
copy of the annual audited report for such Fiscal Year for PRGX and its Subsidiaries, containing a
consolidated balance sheet of Borrowers and their Subsidiaries as of the end of such Fiscal Year
and the related consolidated statements of operations, stockholders’ equity and cash flows
(together with all footnotes thereto) of PRGX and its Subsidiaries for such Fiscal Year, setting
forth in each case in comparative form the figures for the previous Fiscal Year, all in reasonable
detail and reported on by BDO Seidman, LLP or other independent public accountants of nationally
recognized standing (without a “going concern” or like qualification, exception or explanation and
without any qualification or exception as to scope of such audit) to the effect that such financial
statements present fairly in all material respects the financial
condition and the results of operations of PRGX and its Subsidiaries for such Fiscal Year on a
consolidated basis in accordance with GAAP and that the examination by such accountants in
connection with such consolidated financial statements has been made in accordance with generally
accepted auditing standards;

          (b) as soon as available and in any event within 45 days after the end of each Fiscal Quarter,
an unaudited consolidated balance sheet of PRGX and its Subsidiaries as of the end of such Fiscal
Quarter and the related unaudited consolidated statements of operations and

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cash flows of PRGX and
its Subsidiaries for such Fiscal Quarter and the then elapsed portion of such Fiscal Year, setting
forth in each case in comparative form the figures for the corresponding quarter and the
corresponding portion of the Borrowers’ previous Fiscal Year;

          (c) concurrently with the delivery of the financial statements referred to in clauses (a) and
(b) above, a Compliance Certificate signed by a Responsible Officer of the Borrowers’ Agent (i)
certifying as to statements consistent with the applicable reporting requirements of the Securities
and Exchange Commission, (ii) certifying as to whether there exists a Default or Event of Default
on the date of such certificate, and if a Default or an Event of Default then exists, specifying
the details thereof and the action which any Borrower has taken or proposes to take with respect
thereto, (iii) setting forth in reasonable detail calculations demonstrating compliance with the
financial covenants set forth in Article VI, (iv) specifying any change in the identity of
the Subsidiaries as of the end of such Fiscal Year or Fiscal Quarter from the Subsidiaries
identified to the Lenders on the Closing Date or as of the most recent Fiscal Year or Fiscal
Quarter, as the case may be, (v) certifying that the financial statements accompanying such
certificate fairly represent in all material respects the financial condition of PRGX and its
Subsidiaries for such Fiscal Year or Fiscal Quarter on a consolidated basis, and the related
statements of operations and cash flows of PRGX and its Subsidiaries for such Fiscal Year or Fiscal
Quarter, in accordance with GAAP (subject, in the case of quarterly financial statements, to normal
year-end audit adjustments and the absence of footnotes), and (vi) setting forth in reasonable
detail whether there has occurred any change in GAAP or the application of GAAP (in either case
insofar as applicable to Borrowers’ financial statements or the calculations required under
Article VI) since the date of the Borrowers’ last audited financial statements were
delivered to the Administrative Agent and, if any such change has occurred, specifying the effect
of such change on the financial statements accompanying such certificate;

          (d) concurrently with the delivery of the financial statements referred to in clause (a)
above, a certificate of the accounting firm that reported on such financial statements stating
whether they obtained any knowledge during the course of their examination of such financial
statements of any Default or Event of Default relating to compliance with the financial covenants
set forth in Article VI (which certificate may be limited to the extent required by accounting
rules or guidelines);

          (e) as soon as available and in any event within 30 days after the end of each month, a
monthly total revenue report (on both a month-to-date and year-to-date basis);

          (f) as soon as available and in any even within 60 days after the end of each Fiscal Year,
annual projections of income statement and balance sheet for the upcoming Fiscal
Year (including a minimum of 1 historical Fiscal Year and a minimum of 3 forecasted Fiscal
Years);

          (g) promptly after the same become publicly available, copies of all periodic and other
reports, proxy statements and other materials filed with the Securities and Exchange Commission, or
any Governmental Authority succeeding to any or all functions of said Commission, or with any
national securities exchange, or distributed by any Borrower to its shareholders generally, as the
case may be;

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          (h) concurrently with the delivery of the financial statements referred to in subsection (a)
above, a pro forma budget (including reasonable data and other information with respect to the
underlying assumptions relied upon in the formulation of such pro forma budget) for the succeeding
Fiscal Year, containing a balance sheet and statements of operations and cash flow;

          (i) promptly following any request therefor, such other information regarding the results of
operations, business affairs and financial condition of any Borrower or any of its Subsidiaries as
the Administrative Agent or any Lender may reasonably request;

          (j) so long as any Borrower is required to file periodic reports under Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934, as amended, Borrowers may satisfy the
obligation to deliver the financial statements and reports, proxy statements and other materials
referred to in clauses (a), (b) and (g) above by delivering a hyperlink to such financial
statements and reports, proxy statements and other materials by electronic mail to such e-mail
addresses as the Administrative Agent and Lenders shall have provided to Borrowers’ Agent from time
to time;

          (k) not later than the fifteenth (15th) day of each month, a Borrowing Base
Certificate, duly completed and certified by a Responsible Officer of the Borrowers’ Agent,
detailing the Borrowers’ Eligible Accounts Receivable as of the last day of the month just ended.
In addition, together with the delivery of the Borrowing Base Certificate, the Borrowers’ Agent
shall deliver to the Administrative Agent a summary of the accounts receivable aged trial balance.
The Administrative Agent may, but shall not be required to, rely on each Borrowing Base Certificate
delivered hereunder as accurately setting forth the available Borrowing Base for all purposes of
this Agreement until a new Borrowing Base Certificate is delivered to the Administrative Agent;

          (l) not later than the fifteenth (15th) day after the end of any month (ending
after the Closing Date) in which PRGX made any stock redemptions, purchases and repurchases of its
common stock pursuant to any open-market stock repurchase program implemented by PRGX from time to
time, as permitted under Section 7.5, a report (the “Stock Repurchase Report”),
duly completed and certified by a Responsible Officer of the Borrowers’ Agent, detailing such stock
redemptions, purchases and repurchases for such month just ended;

          (m) concurrently with the delivery of the Stock Repurchase Report referred to in subsection
(l) above, Borrowers’ Agent shall deliver to the Administrative Agent (which shall promptly deliver
a copy to the Lenders) a Compliance Certificate executed by a Responsible
Officer of the Borrowers’ Agent, demonstrating in sufficient detail that, as of the end of
such month, after giving effect to the transactions described in the Stock Repurchase Report and
any Indebtedness permitted under this Agreement and incurred in connection therewith during such
month, Borrowers’ Leverage Ratio, as shown on the financial statements most recently delivered or
required to be delivered pursuant to Section 5.1(a) or (b), as the case may be, or, if such
financial statements have not yet been delivered or required to be delivered (including as of the
Closing Date), then, in each case, as shown on the September 30, 2009 financial statements
delivered to the Administrative Agent pursuant to Section 3.1(b)(xxix), was not greater
than 1.10 : 1.00, and, further, certifying that, after giving effect to the consummation of such
transactions,

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the representations and warranties of the Borrowers contained herein are true and
correct in all material respects, except to the extent such representations or warranties expressly
relate to an earlier date, and that the Borrowers, as of the end of such month, are in compliance
with all other terms and conditions contained herein;

          (n) concurrently with the delivery of the financial statements referred to in subsection (b)
above, a detailed report executed by a Responsible Officer of the Borrowers’ Agent, reflecting (i)
the Permitted Acquisitions closed in the applicable Fiscal Quarter, together with a detailed
computation of the Transaction Value of each of such Permitted Acquisition (including a breakdown
of the Up-Front Cash, Deferred Payments, Earn-Out Payments and acquired Indebtedness associated
with each of such Permitted Acquisitions) and (ii) the aggregate year-to-date Transaction Value
paid during such Fiscal Year (including a breakdown of the Up-Front Cash, Deferred Payments,
Earn-Out Payments and acquired Indebtedness paid during such Fiscal Year);

          (o) not later than the thirtieth (30th) day after the end of any month (ending
after the Closing Date) in which any Permitted Acquisition occurs, fully executed copies of the
documents executed and delivered in connection with such Permitted Acquisition; and

          (p) concurrently with the delivery of the financial statements referred to in subsection (b)
above, a detailed report reflecting all net cash transfers by each of the Loan Parties to any
non-Loan Parties and to any foreign divisions of Domestic Subsidiaries during the preceding Fiscal
Quarter in the format used in preparing Schedule 7.4 of this Agreement.

     Section 5.2. Notices of Material Events. Borrowers’ Agent will furnish to the
Administrative Agent and each Lender written notice of the following, as soon as possible, and in
any event, within three (3) Business Days of any Responsible Officer of any Loan Party having
knowledge of or reason to have knowledge of the same:

          (a) the occurrence of any Default or Event of Default;

          (b) the filing or commencement of any action, suit or proceeding by or before any arbitrator
or Governmental Authority against or, to the knowledge of Borrowers, affecting any Borrower or any
Subsidiary which, if adversely determined, would reasonably be expected to result in a Material
Adverse Effect;

          (c) the occurrence of any event or any other development by which any Borrower or any
Subsidiary (i) fails to comply with any Environmental Law or to obtain, maintain or comply with any
permit, license or other approval required under any Environmental Law, (ii) becomes subject to any
Environmental Liability, (iii) receives notice of any claim with respect to any Environmental
Liability, or (iv) becomes aware of any basis for any Environmental Liability and in each of the
preceding clauses, which individually or in the aggregate, would reasonably be expected to result
in a Material Adverse Effect;

          (d) the occurrence of any ERISA Event that alone, or together with any other ERISA Events that
have occurred, would reasonably be expected to result in liability of PRGX and its Subsidiaries in
an aggregate amount exceeding $1,000,000;

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          (e) the occurrence of any default or event of default, or the receipt by any Borrower or any
of its respective Subsidiaries of any written notice of an alleged default or event of default,
with respect to any Material Indebtedness of any Borrower or any of its respective Subsidiaries;

          (f) any other development that results in, or would reasonably be expected to result in, a
Material Adverse Effect.

Each notice delivered under this Section 5.2 shall be accompanied by a written statement of
a Responsible Officer of the Borrowers’ Agent setting forth the details of the event or development
requiring such notice and any action taken or proposed to be taken with respect thereto.

     Section 5.3. Existence; Conduct of Business. Borrowers will, and will cause each of
their respective Subsidiaries to, do or cause to be done all things necessary to preserve, renew
and maintain in full force and effect its legal existence and its respective rights, licenses,
permits, privileges, franchises, patents, copyrights, trademarks and trade names material to the
conduct of its business, except to the extent the failure to do so does not and would not
reasonably be expected to have a Material Adverse Effect; provided, that nothing in this
Section 5.3 shall prohibit any merger, consolidation, liquidation or dissolution permitted
under Section 7.3.

     Section 5.4. Compliance with Laws, Etc. Borrowers will, and will cause each of their
respective Subsidiaries to, comply with all laws, rules, regulations and requirements of any
Governmental Authority applicable to its business and properties, including without limitation, all
Environmental Laws, ERISA and OSHA, except where the failure to do so, either individually or in
the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

     Section 5.5. Payment of Obligations. Borrowers will, and will cause each of their
respective Subsidiaries to, pay and discharge at or before maturity, all of their obligations and
liabilities (including without limitation all taxes, assessments and other governmental charges,
levies and all other claims that could result in a statutory Lien) before the same shall become
delinquent or in default, except where (a) the validity or amount thereof is being contested in
good faith by appropriate proceedings (to the extent commercially practicable to do so), (b) PRGX
and its Subsidiaries
have set aside on their books adequate reserves with respect thereto in accordance with GAAP
and (c) the failure to make payment pending such contest would not reasonably be expected to result
in a Material Adverse Effect.

     Section 5.6. Books and Records. Borrowers will, and will cause each of their
respective Subsidiaries to, keep proper books of record and account in which full, true and correct
entries shall be made of all dealings and transactions in relation to their business and activities
to the extent necessary to prepare the consolidated financial statements of PRGX and its
Subsidiaries in conformity with GAAP.

     Section 5.7. Visitation, Inspection, Etc. Borrowers will, and will cause each of
their respective Subsidiaries to, permit any representative of the Administrative Agent or any
Lender, to visit and inspect their properties, to examine their books and records and to make
copies and take extracts therefrom, to verify their Eligible Accounts Receivable and to discuss
their affairs,

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finances and accounts with any of its officers and with its independent certified
public accountants (with Borrowers being given a reasonable opportunity to be present in any
discussion with such accountants), all at such reasonable times and as often as the Administrative
Agent or any Lender may reasonably request after reasonable prior notice to Borrowers’ Agent;
provided, however, such visits and inspections shall only be conducted up to two (2) times in any
given calendar year, provided further, however, if an Event of Default has occurred and is
continuing, no prior notice shall be required. In no event shall the Borrowers be obligated to pay
the expenses associated with such visits and inspections of any Lender other than the reasonable
expenses of the Administrative Agent.

     Section 5.8. Maintenance of Properties; Insurance. Borrowers will, and will cause
each of their respective Subsidiaries to, (a) keep and maintain all property material to the
conduct of their business in good working order and condition, ordinary wear and tear excepted, (b)
maintain with financially sound and reputable insurance companies, insurance with respect to its
properties and business, and the properties and business of its respective Subsidiaries, against
loss or damage of the kinds customarily insured against by companies in the same or similar
businesses operating in the same or similar locations, and (c) at all times shall name
Administrative Agent as additional insured on all liability policies of the Borrowers and the
Subsidiary Loan Parties.

     Section 5.9. Use of Proceeds and Letters of Credit. Borrowers will use the proceeds
of (i) all Revolving Loans to finance working capital needs, capital expenditures, Permitted
Acquisitions, transaction fees and reasonable expenses arising on the Closing Date with respect to
the Loans and for other general corporate purposes of PRGX and its Subsidiaries and (ii) all Term
Loans for repayment of existing Indebtedness with Ableco and Wells Fargo; provided, that,
the existing Ableco and Wells Fargo Indebtedness must be repaid first, with the proceeds of
the Term Loans, and second, if necessary, with the proceeds of Revolving Loans. For the
avoidance of doubt, excess proceeds of the Term Loans shall be made available to the Borrowers on
the Closing Date, which proceeds may be used for other general corporate purposes of PRGX and its
Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly,
for any purpose that would violate any rule or regulation of the Board of Governors of the
Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used
for general corporate purposes of PRGX and its Subsidiaries.

     Section 5.10 Security Interests. . Each Borrower will, and will cause the other Loan
Parties to, defend the Collateral against all claims and demands of all Persons at any time
claiming the same or any interest therein. Each Borrower agrees to, and will cause the other Loan
Parties to, comply with the requirements of all state and federal laws, as applicable, in order to
grant to the Administrative Agent, for the benefit of the Credit Providers, valid and perfected
first priority (except for Liens permitted under Section 7.2) security interest in the Collateral.
The Administrative Agent is hereby authorized by each Borrower to file any financing statements
covering the Collateral whether or not such Borrower’s signature appears thereon. Each Borrower
agrees to do whatever the Administrative Agent may reasonably request, from time to time, by way
of: filing notices of liens, financing statements, fixture filings and amendments, renewals and
continuations thereof; cooperating with the Administrative Agent’s custodians; keeping stock
records; using commercially reasonable efforts to obtain, in connection with material Collateral
locations, waivers from landlords and mortgagees and from

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warehousemen, fillers, processors and
packers and their respective landlords and mortgagees; paying claims, which might if unpaid, become
a Lien (other than a Permitted Lien) on the Collateral; using commercially reasonable efforts to
assign its rights to the payment of Accounts pursuant to the Assignment of Claims Act of 1940, as
amended (31 U.S.C. §3727 et. seq.) (the failure of which to so assign will permit the
Administrative Agent to exclude such Accounts from the Borrowing Base); and performing such further
acts as the Administrative Agent may reasonably require in order to effect the purposes of this
Agreement and the other Loan Documents. Any and all reasonable fees, costs and reasonable expenses
of whatever kind and nature (including any taxes, reasonable attorneys’ fees or costs for insurance
of any kind), which the Administrative Agent may incur with respect to the Collateral or the
Obligations: in filing public notices; in preparing or filing documents; making title examinations
or rendering opinions; in protecting, maintaining, or preserving the Collateral or its interest
therein; in enforcing or foreclosing the Liens hereunder, whether through judicial procedures or
otherwise; or in defending or prosecuting any actions or proceedings arising out of or relating to
its transactions with any Loan Party or any of its Subsidiaries under this Agreement or any other
Loan Document, will be borne and paid by the Borrowers. If same are not promptly paid by the Loan
Parties, the Administrative Agent may pay same on the Loan Parties’ behalf, and the amount thereof
shall be an Obligation secured by the Collateral Documents and due to the Administrative Agent on
demand. At the request of the Administrative Agent, each Borrower will, and will cause the other
Loan Parties to promptly (i) with respect to all such real estate that is owned (it being agreed
that leasehold mortgages shall not be required in the case of real estate that is leased), execute
and deliver to the Administrative Agent a mortgage on such real estate, and deliver to the
Administrative Agent the other items of the types customarily required such as surveys, title
policies, environmental reports and legal opinions with respect thereto, and all provisions of this
Agreement (including, without limitation, the foregoing provisions of this Section 5.10 and
all other applicable representations, warranties and covenants) that are applicable to real estate
or mortgages shall apply thereto.

     Section 5.11 Additional Subsidiaries.

          (a) If any Domestic Subsidiary becomes a Material Domestic Subsidiary after the Closing Date,
or any Material Domestic Subsidiary is acquired or formed after the Closing Date, then, within
twenty (20) Business Days after delivery of the financial statements under Section 5.1(a) or
(b) for the Fiscal Quarter during which such Domestic Subsidiary became a Material Domestic
Subsidiary or such Material Domestic Subsidiary was acquired or formed, the Borrowers’ Agent will
promptly notify the Administrative Agent and the Lenders thereof and will cause such Material
Domestic Subsidiary to become a Subsidiary Loan Party as provided in clause (d) below.

          (b) If, as of the end of any Fiscal Quarter, the then existing Loan Parties do not satisfy
each of the two criteria of the Aggregate Subsidiary Threshold (without giving effect to any
additional Domestic Subsidiaries then to be made Loan Parties in order to comply therewith), then
the Borrowers shall cause one or more other Domestic Subsidiaries (other than PRG-USA or any other
Subsidiary that is a Borrower) to become additional Subsidiary Loan Parties, as provided in clause
(d) below, within twenty (20) Business Days after delivery of the financial statements under
Section 5.1(a) or (b) for such Fiscal Quarter so that, after including

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the revenue and
assets of any such additional Subsidiary Loan Parties, each of the two criteria of the Aggregate
Subsidiary Threshold shall be satisfied.

          (c) The Borrowers may elect at any time to have any Domestic Subsidiary (other than PRG-USA or
any other Subsidiary that is a Borrower) become an additional Subsidiary Loan Party as provided in
clause (d) below. Upon the occurrence and during the continuation of any Event of Default, if the
Required Lenders so direct, the Borrowers shall cause all of their respective Domestic Subsidiaries
(other than PRG-USA or any other Subsidiary that is a Borrower) to become additional Subsidiary
Loan Parties, as provided in clause (d) below, within ten (10) Business Days after the Borrowers’
Agent’s receipt of written confirmation of such direction from the Administrative Agent.

          (d) A Domestic Subsidiary (other than PRG-USA or any other Subsidiary that is a Borrower)
shall become an additional Subsidiary Loan Party by executing and delivering to the Administrative
Agent a Subsidiary Guaranty Supplement, accompanied by (i) all other Loan Documents related
thereto, (ii) certified copies of certificates or articles of incorporation or organization,
by-laws, membership operating agreements, and other organizational documents, appropriate
authorizing resolutions of the board of directors of such Subsidiaries, and opinions of counsel
comparable to those delivered pursuant to Section 3.1(b), and (iii) such other documents as
the Administrative Agent may reasonably request. No Subsidiary that becomes a Subsidiary Loan
Party shall thereafter cease to be a Subsidiary Loan Party or be entitled to be released or
discharged from its obligations under the Subsidiary Guaranty Agreement except as otherwise
provided in this Agreement or any other Loan Document.

     Section 5.12 Additional Equity Pledges.

          (a) If, after the Closing Date, any Domestic Subsidiary becomes a Material Domestic
Subsidiary, any Foreign Subsidiary becomes a first tier Material Foreign Subsidiary or any Material
Domestic Subsidiary or first tier Material Foreign Subsidiary is acquired or formed, then, within
twenty (20) Business Days after delivery of the financial statements under Section
5.1(a) or (b) for the Fiscal Quarter during which such Domestic Subsidiary became a
Material Domestic Subsidiary, such Foreign Subsidiary became a first tier Material Foreign
Subsidiary or such Material Domestic Subsidiary or first tier Material Foreign Subsidiary was
acquired or formed, the Borrowers’ Agent will promptly notify the Administrative Agent and the
Lenders thereof and the parent of such Material Domestic Subsidiary or such first tier Material
Foreign Subsidiary (to the extent such parent is a Domestic Subsidiary) shall grant a Lien in favor
of the Administrative Agent for the benefit of the Credit Providers on (i) in the case of a
Domestic Subsidiary, 100% of the Capital Stock of such Domestic Subsidiary or (ii) in the case of a
first tier Foreign Subsidiary, 65% (in the aggregate) of the Capital Stock of such first tier
Foreign Subsidiary as provided in clause (d) below, provided, that, to the extent such parent is a
Domestic Subsidiary that is not then a Loan Party, such parent shall also become an additional
Subsidiary Loan Party as provided in Section 5.11(d).

          (b) If, as of the end of any Fiscal Quarter, the then existing Liens in favor of the
Administrative Agent for the benefit of the Credit Providers on the Capital Stock of Subsidiaries
do not satisfy each of the criteria of the Aggregate Equity Pledge Threshold (without giving effect
to any additional Liens then to be granted by Loan Parties in order to

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comply therewith), then the
Loan Parties shall grant additional Liens in favor of the Administrative Agent for the benefit of
the Credit Providers on the Capital Stock of their respective Subsidiaries, as provided in clause
(d) below, within twenty (20) Business Days after delivery of the financial statements under
Section 5.1(a) or (b) for such Fiscal Quarter so that, after including the revenue and
assets of any such additional Subsidiaries whose Capital Stock is pledged pursuant to the Equity
Pledge Agreement, each of the criteria of the Aggregate Equity Pledge Threshold shall be satisfied,
provided that such Liens shall be on (i) in the case of a Domestic Subsidiary, 100% of the Capital
Stock of such Domestic Subsidiary and (ii) in the case of a first tier Foreign Subsidiary, 65% (in
the aggregate) of the Capital Stock of such first tier Foreign Subsidiary.

          (c) The Loan Parties may elect at any time to grant additional Liens in favor of the
Administrative Agent for the benefit of the Credit Providers on the Capital Stock of any Subsidiary
as provided in clause (d) below, provided that such Liens shall be on (i) in the case of a Domestic
Subsidiary, 100% of the Capital Stock of such Domestic Subsidiary and (ii) in the case of a first
tier Foreign Subsidiary, 65% (in the aggregate) of the Capital Stock of such first tier Foreign
Subsidiary. Upon the occurrence and during the continuation of any Event of Default, if the
Required Lenders so direct, the Loan Parties shall grant Liens in favor of the Administrative Agent
for the benefit of the Credit Providers on the Capital Stock of all of their respective
Subsidiaries, as provided in clause (d) below, within ten (10) Business Days after the Borrowers’
Agent’s receipt of written confirmation of such direction from the Administrative Agent, provided
that such Liens shall be on (i) in the case of a Domestic Subsidiary, 100% of the Capital Stock of
such Domestic Subsidiary and (ii) in the case of a first tier Foreign Subsidiary, 65% (in the
aggregate) of the Capital Stock of such first tier Foreign Subsidiary.

          (d) The Loan Parties shall grant additional Liens in favor of the Administrative Agent for the
benefit of the Credit Providers on the Capital Stock of their respective Subsidiaries by executing
and delivering to the Administrative Agent an amendment to the Equity Pledge Agreement, including
revised schedules thereto, accompanied by (i) original stock certificates, together with duly
executed stock powers and proxies as may be necessary or
appropriate to perfect the Administrative Agent’s security interest in such Capital Stock for
the benefit of the Credit Providers, (ii) such certified copies of certificates or articles of
incorporation or organization as may be reasonably requested by the Administrative Agent, (iii)
by-laws, membership operating agreements, and other organizational documents, appropriate
authorizing resolutions of the board of directors of the applicable pledgor, and opinions of
counsel comparable to those delivered pursuant to Section 3.1(b), and (iv) such other
documents as the Administrative Agent may reasonably request. No such Lien shall be entitled to be
released or discharged under the Equity Pledge Agreement except as otherwise provided in this
Agreement or any other Loan Document.

     Section 5.13 Depository and Treasury Management Relationship. Borrowers shall within
ninety (90) days after the Closing Date and at all times thereafter so long as Obligations
hereunder are outstanding (except to the extent such Obligations consist solely of inchoate
indemnity obligations and/or Cash Collateralized Letters of Credit complying with the terms and
conditions of this Agreement), maintain their primary depository bank and treasury management
relationships with the Administrative Agent.

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     Section 5.14 Post-Closing Deliverables. Borrowers shall:

     (a) within thirty (30) days after the Closing Date deliver the following to the Administrative
Agent, each to be in form and substance satisfactory to the Administrative Agent:

     (i) original stock certificates representing the Pledged Interests (as defined in the
Equity Pledge Agreement);

     (ii) duly executed irrevocable transfer powers for each of the stock certificates in
the form attached as Exhibit “A” to the Equity Pledge Agreement;

     (iii) duly executed irrevocable proxies for the Pledged Interests referred to in the
form attached as Exhibit “B” to the Equity Pledge Agreement;

     (iv) duly executed Acknowledgment Agreement in form and substance satisfactory to
Administrative Agent with respect to 600 Galleria Parkway, Suite 100, Atlanta, Georgia
30339-5986; and

     (b) for each of the following Foreign Subsidiaries, as reasonably requested by the
Administrative Agent, and to be delivered in such time frame as the Administrative Agent may
reasonably request, and as may be available from the jurisdiction of organization of such Foreign
Subsidiary and each other jurisdiction where such Foreign Subsidiary is required to be qualified to
do business as a foreign corporation, (i) certified copies of the articles or certificate of
incorporation, certificate of organization or limited partnership, or other registered
organizational documents, (ii) copies of the bylaws, partnership agreement, limited liability
company agreement or other similar documents and (iii) certificates of good standing or existence:
(1) PRG-Schultz CR s.r.o, a corporation organized pursuant to the laws of the Czech Republic, (2)
PRG-Schultz (Deutschland) GMBH, a corporation organized pursuant to the laws of Germany, (3) PRG
Schultz Svenska A.B., a corporation organized pursuant to the laws of Sweden, (4) PRG-Schultz
Nederland, B.V., a corporation organized pursuant to the laws of the Netherlands, (5) PRG-Schultz
Polska Sp.Zo.O., a corporation organized pursuant to the laws of Poland, (6) PRG-Schultz
International PTE LTD, a corporation organized pursuant to the laws of Singapore, (7) PRG-SCHULTZ
CANADA CORP., a corporation organized pursuant to the laws of Canada, (8) The Profit Recovery Group
Holdings Mexico S de RL de CV, a corporation organized pursuant to the laws of Mexico, (9) Profit
Recovery Brasil Ltda, a corporation organized pursuant to the laws of Brazil, (10) PRG-Schultz
Colombia, Ltda., a corporation organized pursuant to the laws of Colombia, (11) The Profit Recovery
Group Argentina S.A., a corporation organized pursuant to the laws of Argentina, and (12) Meridian
Corporation Limited, a corporation organized pursuant to the laws of the Isle of Jersey.

ARTICLE VI

FINANCIAL COVENANTS

     Each Borrower covenants and agrees that so long as any Lender has a Commitment hereunder, the
Issuing Bank has a commitment to issue any Letter of Credit hereunder or any Obligation remains
unpaid or outstanding (except to the extent such Obligations consist solely of

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inchoate indemnity
obligations, Treasury Management Obligations and/or Cash Collateralized Letters of Credit complying
with the terms and conditions of this Agreement):

     Section 6.1. Leverage Ratio. The Borrowers will maintain, as of the last day of each
Fiscal Quarter commencing with the Fiscal Quarter ending December 31, 2009, a Leverage Ratio of not
greater than 1.35 : 1.00.

     Section 6.2. Fixed Charge Coverage Ratio. The Borrowers will maintain, as of the end
of each Fiscal Quarter, commencing with the Fiscal Quarter ending December 31, 2009, a Fixed Charge
Coverage Ratio of not less than 1.50 : 1.00.

     Section 6.3. Minimum Consolidated Adjusted EBITDA. The Borrowers will maintain, as of
the last day of each Fiscal Quarter commencing with the Fiscal Quarter ending December 31, 2009,
Consolidated Adjusted EBITDA for the four Fiscal Quarters then ended of not less than $22,500,000.

     Section 6.4. Net Funded Debt Ratio. The Borrowers will maintain, as of the last day
of each Fiscal Quarter commencing with the Fiscal Quarter ending December 31, 2009, a Net Funded
Debt Ratio of less than 1.00 : 1.00.

     Section 6.5. Capital Expenditures. PRGX and its Subsidiaries will not make Capital
Expenditures in excess of (i) $10,000,000 during the 2010 Fiscal Year and (ii) $7,000,000 during
any subsequent Fiscal Year.

     Section 6.6. Permitted Acquisition Covenants.

          (a) The aggregate amount of Transaction Value of Permitted Acquisitions (including Permitted
Acquisitions occurring prior to and during any such Fiscal Year) actually paid or payable by PRGX
and its Subsidiaries in any one Fiscal Year shall not exceed $10,000,000;

          (b) The aggregate amount of all Earn-Out Payments actually paid in any Fiscal Year shall not
exceed $3,500.000; and

          (c) The aggregate amount of all Deferred Payments actually paid in any Fiscal Year shall not
exceed $3,500,000.

ARTICLE VII

NEGATIVE COVENANTS

     Each Borrower covenants and agrees that so long as any Lender has a Commitment
hereunder, the Issuing Bank has a commitment to issue any Letter of Credit hereunder or any
Obligation remains outstanding (except to the extent such Obligations consist solely of inchoate
indemnity obligations, Treasury Management Obligations and/or Cash Collateralized Letters of Credit
complying with the terms and conditions of this Agreement):

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     Section 7.1. Indebtedness and Preferred Equity. The Borrowers will not, and will not
permit any of their respective Subsidiaries to, create, incur, assume or suffer to exist any
Indebtedness, except:

          (a) Indebtedness created pursuant to the Loan Documents;

          (b) Indebtedness of PRGX or any Subsidiary set forth on Schedule 7.1 and extensions,
renewals and replacements of any such Indebtedness that do not increase the outstanding principal
amount thereof (immediately prior to giving effect to such extension, renewal or replacement),
other than as to the capitalization of interest and fees, or shorten the maturity or the weighted
average life thereof;

          (c) Indebtedness of PRGX or any of its Subsidiaries incurred to finance the acquisition,
construction or improvement of any fixed or capital assets, including Capital Lease Obligations,
and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a
Lien on any such assets prior to the acquisition thereof; provided, that such Indebtedness is
incurred prior to, contemporaneously with or within 90 days after such acquisition or the
completion of such construction or improvements; together with extensions, renewals, and
replacements of any such Indebtedness that do not increase the outstanding principal amount thereof
(immediately prior to giving effect to such extension, renewal or replacement), other than as to
the capitalization of interest and fees, or shorten the maturity or the
weighted average life thereof; provided further, that the aggregate principal amount of such
Indebtedness does not exceed $1,000,000 at any time outstanding;

          (d) Indebtedness of PRGX owing to any Subsidiary and of any Subsidiary owing to PRGX or any
other Subsidiary; provided, that any such Indebtedness that is owed by a Subsidiary that is
not a Loan Party shall be subject to Section 7.4;

          (e) Guarantees by PRGX of Indebtedness of any Subsidiary and by any Subsidiary of Indebtedness
of PRGX or any other Subsidiary; provided, that Guarantees by any Loan Party of
Indebtedness of any Subsidiary that is not a Loan Party shall be subject to Section 7.4;

          (f) Hedging Obligations permitted by Section 7.10;

          (g) Treasury Management Obligations, subject to the terms and conditions of Section
5.13;

          (h) Bank Product Obligations;

          (i) Unsecured Indebtedness consisting solely of Earn-Out Payments in respect of Permitted
Acquisitions;

          (j) Unsecured Indebtedness consisting solely of Deferred Payments in respect of Permitted
Acquisitions; and

          (k) Other unsecured Indebtedness of PRGX and its Subsidiaries in an aggregate principal amount
not to exceed $1,000,000 at any time outstanding.

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The Borrowers will not, and will not permit any of their respective Subsidiaries to, issue any
preferred stock or other preferred equity interests that (i) matures or is mandatorily redeemable
pursuant to a sinking fund obligation or otherwise, (ii) is or may become redeemable or
repurchasable by such Borrower or such Subsidiary at the option of the holder thereof, in whole or
in part or (iii) is convertible or exchangeable at the option of the holder thereof for
Indebtedness or preferred stock or any other preferred equity interests described in this
paragraph, on or prior to, in the case of clause (i), (ii) or (iii), the first anniversary of the
Revolving Commitment Termination Date.

     Section 7.2. Negative Pledge. The Borrowers will not, and will not permit any of
their respective Subsidiaries to, create, incur, assume or suffer to exist any Lien on any of its
assets or property now owned or hereafter acquired or, except:

          (a) Liens securing the Obligations, provided, however, that no Liens may
secure Hedging Obligations without securing all other Obligations on a basis at least pari passu
with such Hedging Obligations and subject to the priority of payments set forth in Section 2.21
of this Agreement;

          (b) Permitted Encumbrances;

          (c) any Liens on any property or asset of any Borrower or any Subsidiary existing on the
Closing Date set forth on Schedule 7.2; provided, that such Lien shall not apply to
any other property or asset of any Borrower or any Subsidiary;

          (d) purchase money Liens upon or in any fixed or capital assets to secure the purchase price
or the cost of construction or improvement of such fixed or capital assets or to secure
Indebtedness incurred solely for the purpose of financing the acquisition, construction or
improvement of such fixed or capital assets (including Liens securing any Capital Lease
Obligations); provided, that (i) such Lien secures Indebtedness permitted by Section
7.1(c), (ii) such Lien attaches to such asset concurrently or within 90 days after the
acquisition, improvement or completion of the construction thereof; (iii) such Lien does not extend
to any other asset; and (iv) the Indebtedness secured thereby does not exceed the cost of
acquiring, constructing or improving such fixed or capital assets;

          (e) any Lien (i) existing on any asset of any Person at the time such Person becomes a
Subsidiary of a Borrower, (ii) existing on any asset of any Person at the time such Person is
merged with or into any Borrower or any Subsidiary of a Borrower or (iii) existing on any asset
prior to the acquisition thereof by any Borrower or any Subsidiary of a Borrower; provided,
that any such Lien was not created in the contemplation of any of the foregoing and any such Lien
secures only those obligations which it secures on the date that such Person becomes a Subsidiary
or the date of such merger or the date of such acquisition;

          (f) extensions, renewals, or replacements of any Lien referred to in paragraphs (a) through
(e) of this Section 7.2; provided, that the principal amount of the Indebtedness
secured thereby is not increased, other than as to the capitalization of interest and fees, and
that any such extension, renewal or replacement is limited to the assets originally encumbered
thereby;

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          (g) other Liens securing Indebtedness or other obligations in an aggregate amount not to
exceed $200,000.

     Section 7.3. Fundamental Changes.

          (a) The Borrowers will not, and will not permit any of their respective Subsidiaries to, merge
into or consolidate into any other Person, or permit any other Person to merge into or consolidate
with it, or sell, lease, transfer or otherwise dispose of (in a single transaction or a series of
transactions) all or substantially all of its assets (in each case, whether now owned or hereafter
acquired) or all or substantially all of the stock of any of its Subsidiaries (in each case,
whether now owned or hereafter acquired) or liquidate or dissolve; provided, that if at the
time thereof and immediately after giving effect thereto, no Default or Event of Default shall have
occurred and be continuing (i) any Borrower or any Subsidiary may merge with a Person if such
Borrower (or such Subsidiary if the Borrower is not a party to such merger) is the surviving
Person, (ii) any Subsidiary may merge into another Subsidiary; provided, that if any party
to such merger is a Subsidiary Loan Party, the Subsidiary Loan Party shall be the surviving Person
(except in the event of a merger among Subsidiary Loan Parties, in which case any single Subsidiary
Loan Party shall be the surviving Person), (iii) any (a) Subsidiary may sell, transfer,
lease or otherwise dispose of all or substantially all of its assets to any Borrower or to a
Subsidiary Loan Party, (b) Domestic Subsidiary that is not Loan Party may sell, transfer, lease or
otherwise dispose of all or substantially all of its assets to any other Domestic Subsidiary that
is not a Loan Party and (c) Foreign Subsidiary may sell, transfer, lease or otherwise dispose of
all or substantially all of its assets to any other Foreign Subsidiary and (iv) any Subsidiary
(other than a Subsidiary Loan Party) may liquidate or dissolve if the Borrowers determine in good
faith that such liquidation or dissolution is in the best interests of the Borrowers and is not
materially disadvantageous to the Lenders; provided, that any such merger involving a
Person that is not a wholly-owned Subsidiary immediately prior to such merger shall not be
permitted unless also permitted by Section 7.4.

          (b) The Borrowers will not, and will not permit any of their respective Subsidiaries to,
engage in any business other than businesses of the type conducted by PRGX and its Subsidiaries on
the date hereof and businesses reasonably related thereto (including data analytics).

     Section 7.4. Investments, Loans, Etc. The Borrowers will not, and will not permit any
of their respective Subsidiaries to, purchase, repurchase, hold or acquire (including pursuant to
any merger with any Person that was not a wholly-owned Subsidiary prior to such merger), any common
stock, evidence of indebtedness or other securities (including any option, warrant, or other right
to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee
any obligations of, or make or permit to exist any investment or any other interest in, any other
Person (all of the foregoing being collectively called “Investments”), or purchase or
otherwise acquire (in one transaction or a series of transactions) any assets of any other Person
that constitute a business unit, or create or form any Subsidiary, except:

          (a) Investments (other than Permitted Investments) set forth on Schedule 7.4
(including Investments in Subsidiaries);

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          (b) Permitted Investments and cash (including demand deposit accounts) and Cash Equivalents;

          (c) Guarantees by PRGX and its Subsidiaries constituting Indebtedness permitted by Section
7.1; provided, that the aggregate principal amount of Indebtedness of Subsidiaries that
are not Loan Parties that is Guaranteed by any Loan Party shall be subject to the limitation set
forth in clause (d) hereof;

          (d) Investments made by PRGX in or to any Subsidiary and by any Subsidiary to PRGX or in or to
another Subsidiary; provided, that the aggregate amount of Investments by Loan Parties in
or to (including Guarantees by Loan Parties of Indebtedness of) any Subsidiary that is not a Loan
Party (excluding all such Investments and Guarantees listed on Schedule 7.4), shall not
exceed $5,000,000 in the aggregate at any time outstanding (with such $5,000,000 being measured as
(A) the outflow of cash from the Loan Parties to other Subsidiaries that are not Loan Parties,
excluding cash arm’s-length payments for services rendered by such other Subsidiaries that are not
Loan Parties to the Loan Parties, net of (B) the inflow of cash, including via transfer pricing,
from the other Subsidiaries that are not Loan Parties to the Loan Parties);

          (e) Loans or advances to employees, officers or directors of any Borrower or any Subsidiary in
the ordinary course of business for travel, relocation and related expenses, and for commission
advances; provided, however, that the aggregate amount of all such loans and advances does not
exceed $250,000 at any time;

          (f) Hedging Transactions permitted by Section 7.10;

          (g) Permitted Acquisitions;

          (h) To the extent permitted by Section 7.5(iii), PRGX’s redemption, purchase or
repurchase of its common stock pursuant to any open-market stock repurchase program implemented by
PRGX from time-to-time, provided, however, that such stock repurchases do not exceed $1,000,000 in
the aggregate in any Fiscal Year;

          (i) Guarantees of real estate and personalty leases of Subsidiaries in the ordinary course of
business;

          (j) Extensions of trade credit (to Subsidiaries and to third party customers) in the ordinary
course of business, not exceeding ninety (90) days from the original date due;

          (k) Transactions permitted under Section 7.3 (unless expressly required to constitute
a Permitted Investment or to otherwise require compliance with Section 7.4);

          (l) Transactions permitted under Section 7.6 (unless expressly required to constitute
a Permitted Investment or to otherwise require compliance with Section 7.4);

          (m) To the extent permitted by Section 5.11, the formation of Subsidiaries, provided,
however, that after the Closing Date, no Foreign Subsidiary may form a Domestic Subsidiary;

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          (n) Extraordinary Investments in connection with the settlement or compromise of Accounts
Receivable, in an amount not to exceed $100,000 in the aggregate outstanding at any time without
Administrative Agent’s prior written consent; and

          (o) Other Investments in an amount not to exceed $100,000 in the aggregate outstanding at any
time.

     Section 7.5. Restricted Payments. The Borrowers will not, and will not permit any of
their respective Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly,
any dividend or distribution on any class of its Capital Stock, or make any payment on account of,
or set apart assets for a sinking or other analogous fund for, the purchase, redemption,
retirement, defeasance or other acquisition of, any shares of Capital Stock or Indebtedness
subordinated to the Obligations of the Borrowers or any Guarantee thereof or any options, warrants,
or other rights to purchase such Capital Stock or such Indebtedness, whether now or hereafter
outstanding (each, a “Restricted Payment”), except for (i) dividends payable by the
Borrowers solely in shares of any class of their respective Capital Stock, (ii) Restricted Payments
made by any Subsidiary to any Borrower or to another Subsidiary, on at least a pro rata basis with
any other shareholders if such Subsidiary is not
wholly owned by a Borrower and other wholly owned Subsidiaries and (iii) the redemption,
purchase or repurchase of PRGX’s common stock by PRGX pursuant to any open-market stock repurchase
program implemented by PRGX from time to time; provided, for the purpose of clause (iii) that (a)
no Default or Event of Default has occurred and is continuing at the time such redemption, purchase
or repurchase is made and (b) after giving effect to the aggregate redemptions, purchases and
repurchases in any given month, and any Indebtedness permitted under this Agreement and incurred in
connection therewith, Borrowers’ Leverage Ratio, as shown on the financial statements most recently
delivered or required to be delivered pursuant to Section 5.1(a) or (b), or, if such
financial statements have not yet been delivered or required to be delivered (including as of the
Closing Date), then, in each case, as shown on the September 30, 2009 financial statements
delivered to the Administrative Agent pursuant to Section 3.1(b)(xxix), shall be no greater
than 1.10 : 1.00. Strictly for reference purposes, certain (but not all) other provisions relating
to Sections 7.5(iii) are located in Section 5.1(l) and (m) of this Agreement.

     Section 7.6. Sale of Assets. Except as otherwise permitted under Section 7.3
(to the extent not expressly required therein to comply with Section 7.6), the Borrowers
will not, and will not permit their respective Subsidiaries to, convey, sell, lease, assign,
transfer or otherwise dispose of, any of their respective assets, business or property, whether now
owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such
Subsidiary’s Capital Stock to any Person other than a Borrower or to a Subsidiary that is its
direct parent, provided, that if such Subsidiary is a Material Domestic Subsidiary, then such
direct parent (if a Domestic Subsidiary) must be (or become, pursuant to Section 5.12(d)) a
party to the Equity Pledge Agreement (or to qualify directors if required by applicable law),
except:

          (a) the sale or other disposition of obsolete or worn out property or other property not
necessary for operations disposed of in the ordinary course of business;

          (b) the sale of inventory and, except as prohibited pursuant to Section 7.4(d), Cash
Equivalents and Permitted Investments in the ordinary course of business;

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          (c) leases and licenses (including subleases and sublicenses) in the ordinary course of
business;

          (d) to the extent otherwise complying with Section 7.3 (and not expressly required to
comply with this Section 7.6), the sale or other disposition of less than all or
substantially all of their respective assets (i) to any Borrower or a Subsidiary Loan Party, (ii)
by any Domestic Subsidiary that is not a Loan Party to any other Domestic Subsidiary that is not a
Loan Party and (iii) by any Foreign Subsidiary to any other Foreign Subsidiary; and

          (e) other sales or dispositions in an aggregate amount not to exceed $100,000.

     Section 7.7. Transactions with Affiliates. The Borrowers will not, and will not
permit any of their respective Subsidiaries to, sell, lease or otherwise transfer any property or
assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage
in any other transactions with, any of its Affiliates, except for: (a) transactions in the ordinary
course of business at prices
and on terms and conditions not less favorable to such Borrower or such Subsidiary than could
be obtained on an arm’s-length basis from unrelated third parties; (b) transactions between or
among a Borrower and/or any Subsidiary Loan Party not involving any other Affiliates; (c) to the
extent not specifically prohibited elsewhere in this Agreement, transactions between or among Loan
Parties and Subsidiaries that are not Loan Parties, at prices and on terms and conditions not less
favorable to such Loan Parties than could be obtained on an arm’s-length basis from unrelated third
parties; (d) transactions between or among Subsidiaries that are not Loan Parties; and (e) any
Restricted Payment permitted by Section 7.5.

     Section 7.8. Restrictive Agreements. The Borrowers will not, and will not permit any
of their respective Subsidiaries to, directly or indirectly, enter into, incur or permit to exist
any agreement that prohibits, restricts or imposes any condition upon (a) the ability of any
Borrower or any of its respective Subsidiaries to create, incur or permit any Lien upon any of its
assets or properties, whether now owned or hereafter acquired, or (b) the ability of any Subsidiary
to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans
or advances to the Borrowers or any other Subsidiary, to Guarantee Indebtedness of any Borrower or
any other Subsidiary or to transfer any of its property or assets to any Borrower or any Subsidiary
of the Borrowers; provided, that (i) the foregoing shall not apply to restrictions or
conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall
not apply to customary restrictions and conditions contained in agreements relating to the sale of
a Subsidiary pending such sale, provided such restrictions and conditions apply only to the
Subsidiary that is sold and such sale is permitted hereunder, (iii) clause (a) shall not apply to
restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by
this Agreement if such restrictions and conditions apply only to the property or assets securing
such Indebtedness and (iv) clause (a) shall not apply to customary provisions in leases and
licenses agreements restricting the assignment thereof.

     Section 7.9. Sale and Leaseback Transactions. The Borrowers will not, and will not
permit any of their respective Subsidiaries to, enter into any arrangement, directly or indirectly,
whereby it shall sell or transfer any property, real or personal, used or useful in its business,
whether now owned or hereinafter acquired, and thereafter rent or lease such property or other

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property that it intends to use for substantially the same purpose or purposes as the property sold
or transferred.

     Section 7.10. Hedging Transactions. The Borrowers will not, and will not permit any
of their respective Subsidiaries to, enter into any Hedging Transaction, other than Hedging
Transactions entered into in the ordinary course of business to hedge or mitigate risks to which
any Borrower or any of its respective Subsidiaries is exposed in the conduct of its business or the
management of its liabilities. Solely for the avoidance of doubt, each Borrower acknowledges that
a Hedging Transaction entered into for speculative purposes or of a speculative nature (which shall
be deemed to include any Hedging Transaction under which any Borrower or any of its respective
Subsidiaries is or may become obliged to make any payment (i) in connection with the purchase by
any third party of any Capital Stock or any Indebtedness or (ii) as a result of changes in the
market value of any Capital Stock or any Indebtedness) is not a Hedging Transaction entered into in
the ordinary course of business to hedge or mitigate risks.

     Section 7.11. Amendment to Organizational Documents. The Borrowers will not, and will
not permit any of their respective Subsidiaries to, amend, modify or waive any of its rights in a
manner materially adverse to the Lenders or any Borrower under its certificate of incorporation,
bylaws or other organizational documents.

     Section 7.12. [Intentionally Omitted].

     Section 7.13. Accounting Changes. The Borrowers will not, and will not permit any of
their respective Subsidiaries to, make any significant change in accounting treatment or reporting
practices, except as required by GAAP, or change the fiscal year of the Borrowers or of any of
their respective Subsidiaries, except to change the fiscal year of a Subsidiary to conform its
fiscal year to that of the Borrowers.

     Section 7.14. Lease Obligations. The Borrowers will not, and will not permit any of
their respective Subsidiaries to, create or suffer to exist obligations for the payment under
operating leases or agreements to lease (but excluding any obligations under leases required to be
classified as capital leases under GAAP) in an aggregate amount, determined on a consolidated
basis, greater than $10,000,000 per Fiscal Year.

     Section 7.15. Government Regulation. No Borrower shall (a) be or become subject at any
time to any law, regulation, or list of any Government Authority of the United States (including,
without limitation, the U.S. Office of Foreign Asset Control list) that prohibits or limits Lenders
or the Administrative Agent from making any advance or extension of credit to the Borrowers or from
otherwise conducting business with the Loan Parties, or (b) fail to provide documentary and other
evidence of the identity of the Loan Parties as may be requested by Lenders or the Administrative
Agent at any time to enable Lenders or the Administrative Agent to verify the identity of the Loan
Parties or to comply with any applicable law or regulation, including, without limitation, Section
326 of the USA Patriot Act of 1 U.S.C. Section 5318.

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ARTICLE VIII

EVENTS OF DEFAULT

     Section 8.1. Events of Default. If any of the following events (each an “Event of
Default”) shall occur:

          (a) the Borrowers shall fail to pay any principal of any Loan or of any reimbursement
obligation in respect of any LC Disbursement when and as the same shall become due and payable,
whether at the due date thereof or at a date fixed for prepayment or otherwise; or

          (b) the Borrowers shall fail to pay any interest on any Loan or any fee or any other amount
(other than an amount payable under clause (a) of this Section 8.1) payable under this
Agreement or any other Loan Document, when and as the same shall become due and payable, and such
failure shall continue unremedied for a period of three (3) Business Days; or

          (c) any representation or warranty made or deemed made by or on behalf of any Borrower or any
of its respective Subsidiaries in or in connection with this Agreement or any other Loan Document
(including the Schedules attached thereto) and any amendments or modifications hereof or waivers
hereunder, or in any certificate, report, financial statement or other document submitted to the
Administrative Agent or the Lenders by any Loan Party or any representative of any Loan Party
pursuant to or in connection with this Agreement or any other Loan Document shall prove to be
incorrect in any material respect when made or deemed made or submitted; or

          (d) the Borrowers shall fail to observe or perform any covenant or agreement contained in
Sections 5.1, 5.2, or 5.3 (with respect to the Borrowers’ existence) or
Articles VI or VII; or

          (e) any Loan Party shall fail to observe or perform any covenant or agreement contained in
this Agreement (other than those referred to in clauses (a), (b) and (d) above) or any other Loan
Document, and such failure shall remain unremedied for 30 days after the earlier of (i) any
Responsible Officer of any Borrower becomes aware of such failure, or (ii) notice thereof shall
have been given to the Borrowers’ Agent by the Administrative Agent or any Lender; or

          (f) any Borrower or any of its respective Subsidiaries (whether as primary obligor or as
guarantor or other surety) shall fail to pay any principal of, or premium or interest on, any
Material Indebtedness that is outstanding, when and as the same shall become due and payable
(whether at scheduled maturity, required prepayment, acceleration, demand or otherwise), and such
failure shall continue after the applicable grace period, if any, specified in the agreement or
instrument evidencing or governing such Indebtedness; or any other event shall occur or condition
shall exist under any agreement or instrument relating to such Indebtedness and shall continue,
unwaived, after the applicable grace period, if any, specified in such agreement or instrument, if
the effect of such event or condition is to accelerate, or permit the acceleration of, the maturity
of such Indebtedness; or any such Indebtedness shall be declared to be due and payable, or required
to be prepaid or redeemed (other than by a regularly scheduled

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required prepayment or redemption),
purchased or defeased, or any offer to prepay, redeem, purchase or defease such Indebtedness shall
be required to be made, in each case prior to the stated maturity thereof; or

          (g) any Borrower or any of its respective Subsidiaries shall (i) commence a voluntary case or
other proceeding or file any petition seeking liquidation, reorganization or other relief under any
federal, state or foreign bankruptcy, insolvency or other similar law now or hereafter in effect or
seeking the appointment of a custodian, trustee, receiver, liquidator or other similar official of
it or any substantial part of its property, (ii) consent to the institution of, or fail to contest
in a timely and appropriate manner, any proceeding or petition described in clause (i) of this
Section 8.1(g), (iii) apply for or consent to the appointment of a custodian, trustee,
receiver, liquidator or other similar official for any such Borrower or any such Subsidiary or for
a substantial part of its assets, (iv) file an answer admitting the material allegations of a
petition filed against it in any such proceeding, (v) make a general assignment for the benefit of
creditors, or (vi) take any action for the purpose of effecting any of the foregoing; or

          (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
seeking (i) liquidation, reorganization or other relief in respect of any Borrower or any of its
respective Subsidiaries or its debts, or any substantial part of its assets, under any federal,
state or foreign bankruptcy, insolvency or other similar law now or hereafter in effect or (ii) the
appointment of a custodian, trustee, receiver, liquidator or other similar official for any
Borrower or any Subsidiary or for a substantial part of its assets, and in any such case, such
proceeding or petition shall remain undismissed for a period of 60 days or an order or decree
approving or ordering any of the foregoing shall be entered; or

          (i) any Borrower or any of its respective Subsidiaries shall become unable to pay, shall admit
in writing its inability to pay, or shall fail to pay, its debts as they become due; or

          (j) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when
taken together with other ERISA Events that have occurred, would reasonably be expected to result
in liability to any Borrower or any of its respective Subsidiaries in an aggregate amount exceeding
$1,000,000; or

          (k) any judgment or order, which is not covered by insurance, for the payment of money in
excess of $1,000,000 in the aggregate shall be rendered against any Borrower or any of its
respective Subsidiaries, and either (i) enforcement proceedings shall have been commenced by any
creditor upon such judgment or order or (ii) there shall be a period of 30 consecutive days during
which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise,
shall not be in effect; or

          (l) any non-monetary judgment or order shall be rendered against any Borrower or any of its
respective Subsidiaries that would reasonably be expected to have a Material Adverse Effect, and
there shall be a period of 30 consecutive days during which a stay of enforcement of such judgment
or order, by reason of a pending appeal or otherwise, shall not be in effect; or

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          (m) a Change in Control shall occur or exist; or

          (n) any provision of any Subsidiary Guaranty Agreement shall for any reason cease to be valid
and binding on, or enforceable against, any Subsidiary Loan Party, or any Subsidiary Loan Party
shall so state in writing, or any Subsidiary Loan Party shall seek to terminate its Subsidiary
Guaranty Agreement; or

          (o) any Loan Document shall fail to be in full force and effect or to give the Administrative
Agent and/or the Lender the Liens, rights, powers and privileges purported to be created thereby,
or any Loan Party shall so state in writing;

then, and in every such event (other than an event with respect to the Borrowers described in
clause (g) or (h) of this Section 8.1) and at any time thereafter during the continuance of
such event, the Administrative Agent may, and upon the written request of the Required Lenders shall, by
notice to the Borrowers’ Agent, take any or all of the following actions, at the same or different
times: (i) terminate the Commitments, whereupon the Commitment of each Lender shall terminate
immediately, (ii) declare the principal of and any accrued interest on the Loans, and all other
Obligations owing hereunder, to be, whereupon the same shall become, due and payable immediately,
without presentment, demand, protest or other notice of any kind, all of which are hereby waived by
each Borrower, (iii) exercise all remedies contained in any other Loan Document, and (iv) exercise
any other remedies available at law or in equity; and that, if an Event of Default specified in
either clause (g) or (h) shall occur with respect to the Borrowers, the Commitments shall
automatically terminate and the principal of the Loans then outstanding, together with accrued
interest thereon, and all fees, and all other Obligations shall automatically become due and
payable, without presentment, demand, protest or other notice of any kind, all of which are hereby
waived by each Borrower.

ARTICLE IX

THE ADMINISTRATIVE AGENT

     Section 9.1. Appointment of Administrative Agent.

          (a) Each Lender irrevocably appoints SunTrust Bank as the Administrative Agent and authorizes
it to take such actions on its behalf and to exercise such powers as are delegated to the
Administrative Agent under this Agreement and the other Loan Documents, together with all such
actions and powers that are reasonably incidental thereto. The Administrative Agent may perform
any of its duties hereunder or under the other Loan Documents by or through any one or more
sub-agents or attorneys-in-fact appointed by the Administrative Agent. The Administrative Agent
and any such sub-agent or attorney-in-fact may perform any and all of its duties and exercise its
rights and powers through their respective Related Parties. The exculpatory provisions set forth
in this Article shall apply to any such sub-agent or attorney-in-fact and the Related Parties of
the Administrative Agent, any such sub-agent and any such attorney-in-fact and shall apply to their
respective activities in connection with the syndication of the credit facilities provided for
herein as well as activities as Administrative Agent.

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          (b) The Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit
issued by it and the documents associated therewith until such time and except for so long as the
Administrative Agent may agree at the request of the Required Lenders to act for the Issuing Bank
with respect thereto; provided, that the Issuing Bank shall have all the benefits and immunities
(i) provided to the Administrative Agent in this Article with respect to any acts taken or
omissions suffered by the Issuing Bank in connection with Letters of Credit issued by it or
proposed to be issued by it and the application and agreements for letters of credit pertaining to
the Letters of Credit as fully as if the term “Administrative Agent” as used in this Article
included the Issuing Bank with respect to such acts or omissions and (ii) as additionally provided
in this Agreement with respect to the Issuing Bank.

     Section 9.2. Nature of Duties of Administrative Agent. The Administrative Agent shall
not have any duties or obligations except those expressly set forth in this Agreement and the other
Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent
shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or
an Event of Default has occurred and is continuing, (b) the Administrative Agent shall not have any
duty to take any discretionary action or exercise any discretionary powers, except those
discretionary rights and powers expressly contemplated by the Loan Documents that the
Administrative Agent is required to exercise in writing by the Required Lenders (or such other
number or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 10.2), and (c) except as expressly set forth in the Loan Documents, the
Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure
to disclose, any information relating to any Borrower or any of its Subsidiaries that is
communicated to or obtained by the Administrative Agent or any of its Affiliates in any capacity.
The Administrative Agent shall not be liable for any action taken or not taken by it, its
sub-agents or attorneys-in-fact with the consent or at the request of the Required Lenders (or such
other number or percentage of the Lenders as shall be necessary under the circumstances as provided
in Section 10.2) or in the absence of its own gross negligence or willful misconduct. The
Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents or
attorneys-in-fact selected by it with reasonable care. The Administrative Agent shall not be
deemed to have knowledge of any Default or Event of Default unless and until written notice thereof
(which notice shall include an express reference to such event being a “Default” or “Event of
Default” hereunder) is given to the Administrative Agent by Borrowers’ Agent or any Lender, and the
Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i)
any statement, warranty or representation made in or in connection with any Loan Document, (ii) the
contents of any certificate, report or other document delivered hereunder or thereunder or in
connection herewith or therewith, (iii) the performance or observance of any of the covenants,
agreements, or other terms and conditions set forth in any Loan Document, (iv) the validity,
enforceability, effectiveness or genuineness of any Loan Document or any other agreement,
instrument or document, or (v) the satisfaction of any condition set forth in Article III
or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be
delivered to the Administrative Agent. The Administrative Agent may consult with legal counsel
(including counsel for the Borrowers) concerning all matters pertaining to such duties.

          Section 9.3. Lack of Reliance on the Administrative Agent. Each of the Lenders and
the Issuing Bank acknowledges that it has, independently and without reliance upon the
Administrative Agent, any Issuing Bank or any other Lender and based on such documents and

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information as it has deemed appropriate, made its own credit analysis and decision to enter into
this Agreement. Each of the Lenders and the Issuing Bank also acknowledges that it will,
independently and without reliance upon the Administrative Agent, any Issuing Bank or any other
Lender and based on such documents and information as it has deemed appropriate, continue to make
its own decisions in taking or not taking of any action under or based on this Agreement, any
related agreement or any document furnished hereunder or thereunder.

     Section 9.4. Certain Rights of the Administrative Agent. If the Administrative Agent
shall request
instructions from the Required Lenders with respect to any action or actions (including the
failure to act) in connection with this Agreement, the Administrative Agent shall be entitled to
refrain from such act or taking such act, unless and until it shall have received instructions from
such Lenders; and the Administrative Agent shall not incur liability to any Person by reason of so
refraining. Without limiting the foregoing, no Lender shall have any right of action whatsoever
against the Administrative Agent as a result of the Administrative Agent acting or refraining from
acting hereunder in accordance with the instructions of the Required Lenders where required by the
terms of this Agreement.

     Section 9.5. Reliance by Administrative Agent. The Administrative Agent shall be
entitled to rely upon, and shall not incur any liability for relying upon, any notice, request,
certificate, consent, statement, instrument, document or other writing (including any electronic
message, posting or other distribution) believed by it to be genuine and to have been signed, sent
or made by the proper Person. The Administrative Agent may also rely upon any statement made to it
orally or by telephone and believed by it to be made by the proper Person and shall not incur any
liability for relying thereon. The Administrative Agent may consult with legal counsel (including
counsel for the Borrowers), independent public accountants and other experts selected by it and
shall not be liable for any action taken or not taken by it in accordance with the advice of such
counsel, accountants or experts.

     Section 9.6. The Administrative Agent in its Individual Capacity. The bank serving as
the Administrative Agent shall have the same rights and powers under this Agreement and any other
Loan Document in its capacity as a Lender as any other Lender and may exercise or refrain from
exercising the same as though it were not the Administrative Agent; and the terms “Lenders”,
“Required Lenders”, “holders of Notes”, or any similar terms shall, unless the context clearly
otherwise indicates, include the Administrative Agent in its individual capacity. The bank acting
as the Administrative Agent and its Affiliates may accept deposits from, lend money to, and
generally engage in any kind of business with any Borrower or any Subsidiary or any Affiliate of
any Borrower as if it were not the Administrative Agent hereunder.

     Section 9.7. Successor Administrative Agent.

          (a) The Administrative Agent may resign at any time by giving notice thereof to the Lenders
and the Borrowers’ Agent. Upon any such resignation, the Required Lenders shall have the right to
appoint a successor Administrative Agent, subject to the approval by the Borrowers provided that no
Default or Event of Default shall exist at such time. If no successor Administrative Agent shall
have been so appointed, and shall have accepted such appointment within 30 days after the retiring
Administrative Agent gives notice of resignation, then the retiring Administrative Agent may, on
behalf of the Lenders and the Issuing Bank, appoint a

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 successor Administrative Agent (subject to
the approval by the Borrowers provided that no Default or Event of Default shall exist at such
time), which shall be a commercial bank organized under the laws of the United States of America or
any state thereof or a bank which maintains an office in the United States, having a combined
capital and surplus of at least $500,000,000.

          (b) Upon the acceptance of its appointment as the Administrative Agent hereunder by a
successor, such successor Administrative Agent shall thereupon succeed to and become vested with
all the rights, powers, privileges and duties of the retiring Administrative Agent, and the
retiring Administrative Agent shall be discharged from its duties and obligations under this
Agreement and the other Loan Documents. If within 45 days after written notice is given of the
retiring Administrative Agent’s resignation under this Section 9.7 no successor
Administrative Agent shall have been appointed and shall have accepted such appointment, then on
such 45th day (i) the retiring Administrative Agent’s resignation shall become
effective, (ii) the retiring Administrative Agent shall thereupon be discharged from its duties and
obligations under the Loan Documents and (iii) the Required Lenders shall thereafter perform all
duties of the retiring Administrative Agent under the Loan Documents until such time as the
Required Lenders appoint a successor Administrative Agent as provided above. After any retiring
Administrative Agent’s resignation hereunder, the provisions of this Article shall continue in
effect for the benefit of such retiring Administrative Agent and its representatives and agents in
respect of any actions taken or not taken by any of them while it was serving as the Administrative
Agent.

          (c) In addition to the foregoing, if a Lender becomes, and during the period it remains, a
Defaulting Lender, the Issuing Bank may, upon prior written notice to the Borrowers’ Agent and the
Administrative Agent, resign as Issuing Bank effective at the close of business New York time on a
date specified in such notice (which date may not be less than five Business Days after the date of
such notice); provided that such resignation by the Issuing Bank will have no effect on the
validity or enforceability of any Letter of Credit then outstanding or on the obligations of the
Borrowers or any Lender under this Agreement with respect to any such outstanding Letter of Credit
or otherwise to the Issuing Bank.

     Section 9.8. Withholding Tax. To the extent required by any applicable law, the Administrative Agent
may withhold from any interest payment to any Lender an amount equivalent to any applicable
withholding tax. If the Internal Revenue Service or any authority of the United States or other
jurisdiction asserts a claim that the Administrative Agent did not properly withhold tax from
amounts paid to or for the account of any Lender (because the appropriate form was not delivered,
was not properly executed, or because such Lender failed to notify the Administrative Agent of a
change in circumstances that rendered the exemption from, or reduction of, withholding tax
ineffective, or for any other reason), such Lender shall indemnify the Administrative Agent (to the
extent that the Administrative Agent has not already been reimbursed by the Borrowers and without
limiting the obligation of the Borrowers to do so) fully for all amounts paid, directly or
indirectly, by the Administrative Agent as tax or otherwise, including penalties and interest,
together with all reasonable expenses incurred, including legal expenses, allocated staff costs and
any out-of-pocket expenses.

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     Section 9.9. Administrative Agent May File Proofs of Claim.

          (a) In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding
relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of
any Loan or any Revolving Credit Exposure shall then be due and payable as herein expressed or by
declaration or otherwise and irrespective of whether the Administrative Agent shall have made any
demand on the Borrowers) shall be entitled and empowered, by intervention in such proceeding or
otherwise:

          (i) to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans or Revolving Credit Exposure and all other Obligations
that are owing and unpaid and to file such other documents as may be necessary or advisable
in order to have the claims of the Lenders, Issuing Bank and the Administrative Agent
(including any claim for the reasonable compensation, expenses, disbursements and advances
of the Lenders, Issuing Bank and the Administrative Agent and its agents and counsel and all
other amounts due the Lenders, Issuing Bank and the Administrative Agent under Section
10.3) allowed in such judicial proceeding; and

          (ii) to collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same; and

          (b) Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Lender and the Issuing Bank
to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to
the making of such payments directly to the Lenders and the Issuing Bank, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and
advances of the Administrative Agent and its agents and counsel, and any other amounts due the
Administrative Agent under Section 10.3.

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or
consent to or accept or adopt on behalf of any Lender or the Issuing Bank any plan of
reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of
any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender
in any such proceeding.

     Section 9.10. Authorization to Execute other Loan Documents. Each Lender hereby
authorizes the Administrative Agent to execute on behalf of all Lenders all Loan Documents other
than this Agreement.

ARTICLE X

MISCELLANEOUS

          Section 10.1. Notices.

               (a) Written Notices.

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          (i) Except in the case of notices and other communications expressly permitted to be
given by telephone or electronically, all notices and other communications to any party
herein to be effective shall be in writing and shall be delivered by hand or overnight
courier service, mailed by certified or registered mail or sent by telecopy, as follows:

	 	 	 
	To the Borrowers’ Agent:

	 	PRG-Schultz International, Inc.
	 

	 	600 Galleria Parkway, Suite 100
	 

	 	Atlanta, Georgia 30339-5986
	 

	 	Attention: Mr. Robert Lee, Chief Financial Officer
	 

	 	Telecopy Number: (770) 779-3034
	 

	 	E-Mail: robert.lee@prgx.com
	 
	 	 
	With a copy to:

	 	PRG-Schultz International, Inc.
	 

	 	600 Galleria Parkway, Suite 100
	 

	 	Atlanta, Georgia 30339-5986
	 

	 	Attention: Victor A. Allums, Esq.,
Senior Vice

President, and General Counsel
	 

	 	Telecopy Number: (770) 779-3034
	 

	 	E-Mail: vic.allums@prgx.com
	 
	 	 
	To the Administrative Agent

	 	SunTrust Bank
	or to SunTrust Bank:

	 	25 Park Place, 23rd Floor
	 

	 	Atlanta, Georgia 30303
	 

	 	Attention: D. Scott Cathcart, First Vice President
	 

	 	Telecopy Number: (404) 532-0417
	 

	 	E-Mail: scott.cathcart@suntrust.com
	 
	 	 
	With a copy to:

	 	Arnall Golden Gregory LLP
	 

	 	171 17th Street, Suite 2100
	 

	 	Atlanta, Georgia 30363
	 

	 	Attention: Ronald A. Weiner, Esq.
	 

	 	Telecopy Number: (404) 873-8193
	 

	 	E-Mail: ronald.weiner@agg.com
	 
	 	 
	To the Issuing Bank:

	 	SunTrust Bank
	 

	 	25 Park Place, N. E./Mail Code 3706
	 

	 	16th Floor
	 

	 	Atlanta, Georgia 30303
	 

	 	Attention: Standby Letter of Credit Dept.
	 

	 	Telecopy Number: (404) 588-8129
	 

	 	E-Mail: scott.cathcart@suntrust.com
	 
	 	 
	To any other Lender:

	 	the address set forth in the administrative
	 

	 	questionnaire or the Assignment and Acceptance
	 

	 	Agreement executed by such Lender

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Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All such notices and
other communications, when transmitted by telecopy, must also be sent by electronic
mail. All such notices and other communications shall, when transmitted by overnight
delivery, or telecopy, be effective when delivered for overnight (next-day) delivery, or
transmitted in legible form by facsimile machine, respectively, or if mailed, upon the
third Business Day after the date deposited into the mail or if delivered, upon
delivery; provided, that notices delivered to the Administrative Agent or the Issuing
Bank shall not be effective until actually received by such Person at its address
specified in this Section 10.1.

          (ii) Any agreement of the Administrative Agent, the Issuing Bank and the Lenders herein
to receive certain notices by telephone or facsimile is solely for the convenience and at
the request of the Borrowers. The Administrative Agent, the Issuing Bank and the Lenders
shall be entitled to rely on the authority of any Person(s) purporting to be a Responsible
Officer(s) authorized by the Borrowers (or the Borrowers’ Agent as agent for the Borrowers,
as the case may be) to give such notice and the Administrative Agent, the Issuing Bank and
the Lenders shall not have any liability to the Borrowers, the Borrowers’ Agent or any other
Person on account of any action taken or not taken by the Administrative Agent, the Issuing
Bank and the Lenders in reliance upon such telephonic or facsimile notice. The obligation
of the Borrowers to repay the Loans and all other Obligations hereunder shall not be
affected in any way or to any extent by any failure of the Administrative Agent, the Issuing
Bank and the Lenders to receive written confirmation of any telephonic or facsimile notice
or the receipt by the Administrative Agent, the Issuing Bank and the Lenders of a
confirmation which is at variance with the terms understood by the Administrative Agent, the
Issuing Bank and the Lenders to be contained in any such telephonic or facsimile notice.

     (b) Electronic Communications.

          (i) Notices and other communications to the Lenders and the Issuing Bank hereunder may
be delivered or furnished by electronic communication (including e-mail and Internet or
intranet websites) pursuant to procedures approved by Administrative Agent, provided
that the foregoing shall not apply to notices to any Lender or the Issuing Bank pursuant to
Article 2 unless such Lender, the Issuing Bank, as applicable, and Administrative
Agent have agreed to receive notices under such Section by electronic communication and have
agreed to the procedures governing such communications. Administrative Agent or Borrowers
may, at their respective discretion, agree to accept notices and other communications to it
hereunder by electronic communications pursuant to procedures approved by it;
provided that approval of such procedures may be limited to particular notices or
communications.

          (ii) Unless Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the sender’s receipt
of an acknowledgement from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement); provided
that if such notice or other communication is not sent

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during the normal business hours of the recipient, such notice or communication shall
be deemed to have been sent at the opening of business on the next Business Day for the
recipient, and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at its e-mail
address as described in the foregoing clause (i) of notification that such notice or
communication is available and identifying the website address therefor.

     Section 10.2. Waiver; Amendments.

          (a) No failure or delay by the Administrative Agent, the Issuing Bank or any Lender in
exercising any right or power hereunder or any other Loan Document, and no course of dealing
between the Borrowers and the Administrative Agent or any Lender, shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right or power or any abandonment or
discontinuance of steps to enforce such right or power, preclude any other or further exercise
thereof or the exercise of any other right or power hereunder or thereunder. The rights and
remedies of the Administrative Agent, the Issuing Bank and the Lenders hereunder and under the
other Loan Documents are cumulative and are not exclusive of any rights or remedies provided by
law. No waiver of any provision of this Agreement or any other Loan Document or consent to any
departure by the Borrowers therefrom shall in any event be effective unless the same shall be
permitted by paragraph (b) of this Section 10.2, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which given. Without limiting the
generality of the foregoing, the making of a Loan or the issuance of a Letter of Credit shall not
be construed as a waiver of any Default or Event of Default, regardless of whether the
Administrative Agent, any Lender or the Issuing Bank may have had notice or knowledge of such
Default or Event of Default at the time.

          (b) No amendment or waiver of any provision of this Agreement or the other Loan Documents, nor
consent to any departure by the Borrowers therefrom, shall in any event be effective unless the
same shall be in writing and signed by the Borrowers and the Required Lenders or the Borrowers and
the Administrative Agent with the consent of the Required Lenders and then such waiver or consent
shall be effective only in the specific instance and for the specific purpose for which given;
provided, that no amendment or waiver shall: (i) increase the Commitment of any Lender
without the written consent of such Lender, (ii) reduce the principal amount of any Loan or LC
Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, without
the written consent of each Lender affected thereby, (iii) postpone the date fixed for any payment
of any principal of, or interest on, any Loan or LC Disbursement or interest thereon or any fees
hereunder or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date
for the termination or reduction of any Commitment, without the written consent of each Lender
affected thereby, (iv) change Section 2.21(b) or (c) in a manner that would alter
the pro rata sharing of payments required thereby, without the written consent of each Lender, (v)
change any of the provisions of this Section 10.2 or the definition of “Required Lenders”
or any other
provision hereof specifying the number or percentage of Lenders which are required to
waive, amend or modify any rights hereunder or make any determination or grant any consent
hereunder, without the consent of each Lender; (vi) release any guarantor or limit the liability of
any such guarantor under any guaranty agreement, without the written consent of each Lender; (vii)
release all or substantially all collateral (if any)
securing any of the Obligations or agree to subordinate any Lien in such collateral to any
other

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creditor of any Borrower or any Subsidiary, without the written consent of each Lender;
provided further, that no such agreement shall amend, modify or otherwise affect the
rights, duties or obligations of the Administrative Agent or the Issuing Bank without the prior
written consent of such Person. Notwithstanding anything to the contrary herein, no Defaulting
Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder,
except that the Commitment of such Lender may not be increased or extended without the consent of
such Lender. Notwithstanding anything contained herein to the contrary, this Agreement may be
amended and restated without the consent of any Lender (but with the consent of the Borrowers and
the Administrative Agent) if, upon giving effect to such amendment and restatement, such Lender
shall no longer be a party to this Agreement (as so amended and restated), the Commitments of such
Lender shall have terminated (but such Lender shall continue to be entitled to the benefits of
Sections 2.18, 2.19, 2.20 and 10.3), such Lender shall have no
other commitment or other obligation hereunder and shall have been paid in full (i) all principal,
interest and other amounts owing to it or accrued for its account under this Agreement, (ii) all
Hedging Obligations owing to such Lender (or any Affiliate of such Lender) in connection with the
Loans, and (iii) all Bank Product Obligations owing to such Lender (or any Affiliate of such
Lender).

     Section 10.3. Expenses; Indemnification.

          (a) The Borrowers shall pay (i) all reasonable, out-of-pocket costs and expenses of the
Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements
of counsel for the Administrative Agent and its Affiliates, in connection with (A) the syndication
of the credit facilities provided for herein after the Closing Date (if any), (B) the preparation
and administration of the Loan Documents and (C) any amendments, modifications or waivers thereof
(whether or not the transactions contemplated in this Agreement or any other Loan Document shall be
consummated), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Bank in connection
with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for
payment thereunder and (iii) all reasonable out-of-pocket costs and expenses (including, without
limitation, the reasonable fees, charges and disbursements of outside counsel and the allocated
cost of inside counsel) incurred by the Administrative Agent, the Issuing Bank or any Lender in
connection with the enforcement or protection of its rights in connection with this Agreement,
including its rights under this Section 10.3, or in connection with the Loans made or any
Letters of Credit issued hereunder, including all such reasonable out-of-pocket expenses incurred
during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit.

          (b) The Borrowers shall indemnify the Administrative Agent (and any sub-agent thereof), each
Lender and the Issuing Bank, and each Related Party of any of the foregoing Persons (each such
Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any
and all losses, claims, damages, liabilities and related reasonable expenses (including the
reasonable fees, charges and disbursements of any counsel for any Indemnitee), and shall indemnify
and hold harmless each Indemnitee from all reasonable fees and time charges and disbursements for
attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against
any Indemnitee by any third party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other
Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by

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the parties hereto of their respective obligations hereunder or thereunder or the consummation of the
transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use or
proposed use of the proceeds therefrom (including any refusal by the Issuing Bank to honor a demand
for payment under a Letter of Credit if the documents presented in connection with such demand do
not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence
or Release of Hazardous Materials on or from any property owned or operated by any Borrower or any
of its Subsidiaries, or any Environmental Liability related in any way to any Borrower or any of
its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other theory, and
regardless of whether any Indemnitee is a party thereto, provided that such indemnity shall
not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from (x) the gross negligence or willful misconduct of such
Indemnitee or any Related Party or (y) a claim brought by any Borrower or any other Loan Party
against an Indemnitee or any Related Party for breach in bad faith of such Indemnitee’s obligations
hereunder or under any other Loan Document. No Indemnitee shall be liable for any damages arising
from the use by others of any information or other materials obtained through Syntrak or any other
Internet or intranet website, except as a result of such Indemnitee’s gross negligence or willful
misconduct as determined by a court of competent jurisdiction in a final and nonappealable
judgment.

          (c) The Borrowers shall pay, and hold the Administrative Agent, the Issuing Bank and each of
the Lenders harmless from and against, any and all present and future stamp, documentary, and other
similar taxes with respect to this Agreement and any other Loan Documents, any Collateral described
therein, or any payments due thereunder, and save the Administrative Agent, the Issuing Bank and
each Lender harmless from and against any and all liabilities with respect to or resulting from any
delay or omission to pay such taxes.

          (d) To the extent that the Borrowers fail to pay any amount required to be paid to the
Administrative Agent or the Issuing Bank under clauses (a), (b) or (c) hereof, each Lender
severally agrees to pay to the Administrative Agent or the Issuing Bank, as the case may be, such
Lender’s Pro Rata Share (determined as of the time that the unreimbursed expense or indemnity
payment is sought) of such unpaid amount; provided, that the unreimbursed expense or
indemnified payment, claim, damage, liability or related expense, as the case may be, was incurred
by or asserted against the Administrative Agent or the Issuing Bank in its capacity as such.

          (e) To the extent permitted by applicable law, the Borrowers shall not assert, and hereby
waives, any claim against any Indemnitee, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to actual or direct damages) arising out of, in
connection with or as a result of, this Agreement or any agreement or instrument contemplated
hereby, the transactions contemplated therein, any Loan or any Letter of Credit or the use of
proceeds thereof.

          (f) All amounts due under this Section 10.3 shall be payable promptly after written
demand therefor.

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     Section 10.4. Successors and Assigns.

          (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby, except that the
Borrowers may not assign or otherwise transfer any of its rights or obligations hereunder without
the prior written consent of the Administrative Agent and each Lender, and no Lender may assign or
otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in
accordance with the provisions of paragraph (b) of this Section, (ii) by way of participation in
accordance with the provisions of paragraph (d) of this Section or (iii) by way of pledge or
assignment of a security interest subject to the restrictions of paragraph (g) of this Section (and
any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in
this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, Participants to the
extent provided in paragraph (d) of this Section and, to the extent expressly contemplated hereby,
the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable
right, remedy or claim under or by reason of this Agreement.

          (b) Any Lender may at any time assign to one or more assignees all or a portion of its rights
and obligations under this Agreement (including all or a portion of its Commitments, Loans, and
other Revolving Credit Exposure at the time owing to it); provided that any such assignment
shall be subject to the following conditions:

     (i) Minimum Amounts.

     (A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Commitments, Loans and other Revolving Credit Exposure at the
time owing to it or in the case of an assignment to a Lender, an Affiliate of a
Lender or an Approved Fund, no minimum amount need be assigned; and

     (B) in any case not described in paragraph (b)(i)(A) of this Section, the
aggregate amount of the Commitment (which for this purpose includes Loans and
Revolving Credit Exposure outstanding thereunder) or, if the applicable Commitment
is not then in effect, the principal outstanding balance of the Loans and Revolving
Credit Exposure of the assigning Lender subject to each such assignment (determined
as of the date the Assignment and Acceptance with respect to such assignment is
delivered to the Administrative Agent or, if “Trade Date” is specified in the
Assignment and Acceptance, as of the Trade Date) shall not be less than $1,000,000,
unless each of the Administrative Agent and, so long as no Event of Default has
occurred and is continuing, the Borrowers otherwise consent (each such consent not
to be unreasonably withheld or delayed).

          (ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement with respect to the Loans, other Revolving Credit Exposure or the
Commitments assigned.

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          (iii) Required Consents. No consent shall be required for any assignment
except to the extent required by paragraph (b)(i)(B) of this Section and, in addition:

     (A) the consent of the Borrowers (such consent not to be unreasonably withheld
or delayed) shall be required unless (x) an Event of Default has occurred and is
continuing at the time of such assignment or (y) such assignment is to a Lender, an
Affiliate of a Lender or an Approved Fund;

     (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required for assignments to a Person that
is not a Lender with a Commitment; and

     (C) the consent of the Issuing Bank (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment that increases the
obligation of the assignee to participate in exposure under one or more Letters of
Credit (whether or not then outstanding).

          (iv) Assignment and Acceptance. The parties to each assignment shall deliver
to the Administrative Agent (A) a duly executed Assignment and Acceptance, (B) a processing
and recordation fee of $3,500, (C) an Administrative Questionnaire unless the assignee is
already a Lender and (D) the documents required under Section 2.20 if such assignee
is a Foreign Lender.

          (v) No Assignment to Borrowers. No such assignment shall be made to any
Borrower or any of the Borrowers’ Affiliates or Subsidiaries.

          (vi) No Assignment to Natural Persons. No such assignment shall be made to a
natural person.

Subject to acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c)
of this Section 10.4, from and after the effective date specified in each Assignment and
Acceptance, the assignee thereunder shall be a party to this Agreement and, to the extent of the
interest assigned by such Assignment and Acceptance, have the rights and obligations of a Lender
under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest
assigned by such Assignment and Acceptance and provided that such Lender is not a Defaulting
Lender, be released from its obligations under this Agreement (and, in the case of an Assignment
and Acceptance covering all of the assigning Lender’s rights and obligations under this Agreement,
such Lender shall cease to be a party) but shall continue to be entitled to the benefits of
Sections 2.18, 2.19, 2.20 and 10.3 with respect to facts and
circumstances occurring prior to the effective date of such assignment. Any assignment or transfer
by a Lender of rights or obligations under this Agreement that does not comply with this paragraph
(b) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in
such rights and obligations in accordance with paragraph (d) of this Section 10.4. If the consent of the
Borrowers to an assignment is required hereunder (including a consent to an assignment which does
not meet the minimum assignment thresholds specified above), the Borrowers shall be

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deemed to have given their consent five Business Days after the date notice thereof has actually been delivered by
the assigning Lender (through the Administrative Agent) to the Borrowers, unless such consent is
expressly refused by the Borrowers on or prior to such fifth Business Day.

          (c) The Administrative Agent, acting solely for this purpose as an agent of the Borrowers,
shall maintain at one of its offices in Atlanta, Georgia a copy of each Assignment and Acceptance
delivered to it and a register for the recordation of the names and addresses of the Lenders, and
the Commitments of, and principal amount of the Loans and Revolving Credit Exposure owing to, each
Lender pursuant to the terms hereof from time to time (the “Register”). Information
contained in the Register with respect to any Lender shall be available for inspection by such
Lender at any reasonable time and from time to time upon reasonable prior notice; information
contained in the Register shall also be available for inspection by the Borrowers at any reasonable
time and from time to time upon reasonable prior notice. In establishing and maintaining the
Register, Administrative Agent shall serve as the Parent Company’s agent solely for tax purposes
and solely with respect to the actions described in this Section, and each Borrower hereby
agrees that, to the extent SunTrust Bank serves in such capacity, SunTrust Bank and its officers,
directors, employees, agents, sub-agents and affiliates shall constitute “Indemnitees.”

          (d) Any Lender may at any time, without the consent of, or notice to, the Borrowers, the
Administrative Agent or the Issuing Bank sell participations to any Person (other than a natural
person, the Borrowers or any of the Borrowers’ Affiliates or Subsidiaries) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this
Agreement (including all or a portion of its Commitment and/or the Loans owing to it);
provided that (i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (iii) the Borrowers, the Administrative Agent, the Lenders and the Issuing
Bank shall continue to deal solely and directly with such Lender in connection with such Lender’s
rights and obligations under this Agreement.

          (e) Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver with respect to the following to the
extent affecting such Participant: (i) increase the Commitment of any Lender without the written
consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or reduce
the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of
each Lender affected thereby, (iii) postpone the date fixed for any payment of any principal of, or
interest on, any Loan or LC Disbursement or interest thereon or any fees hereunder or reduce the
amount of, waive or excuse any such payment, or postpone the scheduled date for the termination or
reduction of any Commitment, without the written consent of each Lender affected thereby, (iv)
change Section 2.21(b) or (c) in a manner that would alter the pro rata sharing of
payments required thereby, without the written consent of each Lender, (v) change any of the provisions of this Section 10.4 or the definition of “Required
Lenders” or any other provision hereof specifying the number or percentage of Lenders which are
required to waive, amend or modify any rights hereunder or make any determination or grant any
consent

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hereunder, without the consent of each Lender; (vi) release any guarantor or limit the
liability of any such guarantor under any guaranty agreement without the written consent of each
Lender except to the extent such release is expressly provided under the terms of such guaranty
agreement; or (vii) release all or substantially all collateral (if any) securing any of the
Obligations. Subject to paragraph (f) of this Section 10.4, the Borrowers agree that each
Participant shall be entitled to the benefits of Sections 2.18, 2.19, and
2.20 to the same extent as if it were a Lender and had acquired its interest by assignment
pursuant to paragraph (b) of this Section 10.4.

          (f) A Participant shall not be entitled to receive any greater payment under Section
2.18 and Section 2.20 than the applicable Lender would have been entitled to receive
with respect to the participation sold to such Participant. A Participant that would be a Foreign
Lender if it were a Lender shall not be entitled to the benefits of Section 2.20 unless the
Borrowers are notified of the participation sold to such Participant and such Participant agrees,
for the benefit of the Borrowers, to comply with Section 2.20(e) as though it were a
Lender.

          (g) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including without limitation
any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no
such pledge or assignment shall release such Lender from any of its obligations hereunder or
substitute any such pledgee or assignee for such Lender as a party hereto.

     Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process.

          (a) This Agreement and the other Loan Documents shall be construed in accordance with and be
governed by the law (without giving effect to the conflict of law principles thereof of the State
of Georgia).

          (b) Each Borrower hereby irrevocably and unconditionally submits, for itself and its property,
to the non-exclusive jurisdiction of the United States District Court of the Northern District of
Georgia, and the Business Case Division of the Fulton County Superior Court located in Atlanta,
Georgia, and of the Business Case Division of the Fulton County Superior Court located in Atlanta,
Georgia and any appellate court from any thereof, in any action or proceeding arising out of or
relating to this Agreement or any other Loan Document or the transactions contemplated hereby or
thereby, or for recognition or enforcement of any judgment, and each of the parties hereto hereby
irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding
may be heard and determined in such Fulton County Superior Court, or, to the extent permitted by
applicable law, such Federal court. Each of the parties hereto agrees that a final judgment in any
such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on
the judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan
Document shall affect any right that the Administrative Agent, the Issuing Bank or any Lender may
otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against
any Borrower or its properties in the courts of any jurisdiction.

          (c) Each Borrower irrevocably and unconditionally waives any objection which it may now or
hereafter have to the laying of venue of any such suit, action or proceeding

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described in the first sentence of paragraph (b) of this Section 10.5 and brought in any court referred to in the
first sentence of paragraph (b) of this Section 10.5. Each of the parties hereto
irrevocably waives, to the fullest extent permitted by applicable law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court.

          (d) Each party to this Agreement irrevocably consents to the service of process in the manner
provided for notices in Section 10.1. Nothing in this Agreement or in any other Loan
Document will affect the right of any party hereto to serve process in any other manner permitted
by law.

     Section 10.6. WAIVER OF JURY TRIAL. EACH PARTY HERETO IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).
EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER, AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO
HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

     Section 10.7. Right of Setoff. In addition to any rights now or hereafter granted
under applicable law and not by way of limitation of any such rights, each Lender and the Issuing
Bank shall have the right, at any time or from time to time upon the occurrence and during the
continuance of an Event of Default, without prior notice to the Borrowers, any such notice being
expressly waived by the Borrowers to the extent permitted by applicable law, to set off and apply
against all deposits (general or special, time or demand, provisional or final) of the Borrowers at
any time held or other obligations at any time owing by such Lender and the Issuing Bank to or for
the credit or the account of the Borrowers against any and all Obligations held by such Lender or
the Issuing Bank, as the case may be, irrespective of whether such Lender or the Issuing Bank shall
have made demand hereunder and although such Obligations may be unmatured. Each Lender and the
Issuing Bank agree promptly to notify the Administrative Agent and the Borrowers after any such
set-off and any application made by such Lender and the Issuing Bank, as the case may be;
provided, that the failure to give such notice shall not affect the validity of such
set-off and application. Each Lender and the Issuing Bank agrees to apply all amounts collected
from any such set-off to the Obligations before applying such amounts to any other Indebtedness or
other obligations owed by the Borrowers and any of their respective Subsidiaries to such Lender or
Issuing Bank.

     Section 10.8. Counterparts; Integration. This Agreement may be executed by one or
more of the parties to this Agreement on any number of separate counterparts (including by
telecopy), and all of said counterparts taken together shall be deemed to constitute one and the
same instrument. This Agreement, the Advisory Fee Letter, the other Loan Documents, and any

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separate letter agreement(s) relating to any fees payable to the Administrative Agent and its
Affiliates constitute the entire agreement among the parties hereto and thereto and their
affiliates regarding the subject matters hereof and thereof and supersede all prior agreements and
understandings, oral or written, regarding such subject matters. Delivery of an executed
counterpart to this Agreement or any other Loan Document by facsimile transmission or by electronic
mail in pdf form shall be as effective as delivery of a manually executed counterpart hereof.

     Section 10.9. Survival. All covenants, agreements, representations and warranties
made by the Borrowers herein and in the certificates or other instruments delivered in connection
with or pursuant to this Agreement shall be considered to have been relied upon by the other
parties hereto and shall survive the execution and delivery of this Agreement and the making of any
Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other
party or on its behalf and notwithstanding that the Administrative Agent, the Issuing Bank or any
Lender may have had notice or knowledge of any Default or incorrect representation or warranty at
the time any credit is extended hereunder, and shall continue in full force and effect as long as
the principal of or any accrued interest on any Loan or any fee or any other amount payable under
this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the
Commitments have not expired or terminated. The provisions of Sections 2.18, 2.19,
2.20, and 10.3 and Article IX shall survive and remain in full force and
effect regardless of the consummation of the transactions contemplated hereby, the repayment of the
Loans, the expiration or termination of the Letters of Credit and the Commitments or the
termination of this Agreement or any provision hereof. All representations and warranties made
herein, in the certificates, reports, notices, and other documents delivered pursuant to this
Agreement shall survive the execution and delivery of this Agreement and the other Loan Documents,
and the making of the Loans and the issuance of the Letters of Credit.

     Section 10.10. Severability. Any provision of this Agreement or any other Loan
Document held to be illegal, invalid or unenforceable in any jurisdiction, shall, as to such
jurisdiction, be ineffective to the extent of such illegality, invalidity or unenforceability
without affecting the legality, validity or enforceability of the remaining provisions hereof or
thereof; and the illegality, invalidity or unenforceability of a particular provision in a
particular jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

     Section 10.11. Confidentiality. Each of the Administrative Agent, the Issuing Bank
and the Lenders agrees to take normal and reasonable precautions to maintain the confidentiality of
any information relating to the Borrowers or any of their respective Affiliates or any of their
respective businesses, to the extent provided to it by any Borrower or any Affiliate, other than
any such information that is available to the Administrative Agent, the Issuing Bank or any Lender
on a nonconfidential basis prior to disclosure by any Borrower or any of its Affiliates, except
that such information may be disclosed (i) to any Related Party of the Administrative Agent, the Issuing Bank or any such
Lender, including without limitation accountants, legal counsel and other advisors, who have a
reasonable business need to know such information, (ii) to the extent required by applicable laws
or regulations or by any subpoena or similar legal process, (iii) to the extent requested by any
regulatory agency or authority purporting to have jurisdiction over it (including any
self-regulatory authority such as the National Association of Insurance Commissioners), (iv) to the
extent that such information becomes publicly available

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other than as a result of a breach of this Section 10.11, or which becomes available to the Administrative Agent, the Issuing Bank,
any Lender or any Related Party of any of the foregoing on a non-confidential basis from a source
other than the Borrowers or any Affiliate, (v) in connection with the exercise of any remedy
hereunder or under any other Loan Documents or any suit, action or proceeding relating to this
Agreement or any other Loan Documents or the enforcement of rights hereunder or thereunder, (vii)
subject to an agreement containing provisions substantially the same as those of this Section
10.11, to (A) any assignee of or Participant in, or any prospective assignee of or Participant
in, any of its rights or obligations under this Agreement, or (B) any actual or prospective party
(or its Related Parties who have a reasonable business reason to know such information) to any swap
or derivative or similar transaction under which payments are to be made by reference to the
Borrowers and their obligations, this Agreement or payments hereunder, (viii) any rating agency,
(ix) the CUSIP Service Bureau or any similar organization, or (x) with the consent of the
Borrowers. Any Person required to maintain the confidentiality of any information as provided for
in this Section 10.11 shall be considered to have complied with its obligation to do so if
such Person has exercised the same degree of care to maintain the confidentiality of such
information as such Person would accord its own confidential information.

     Section 10.12. Interest Rate Limitation. Notwithstanding anything herein to the
contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges
and other amounts which may be treated as interest on such Loan under applicable law (collectively,
the “Charges”), shall exceed the maximum lawful rate of interest (the “Maximum
Rate”) which may be contracted for, charged, taken, received or reserved by a Lender holding
such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan
hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum
Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of
such Loan but were not payable as a result of the operation of this Section 10.12 shall be
cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods
shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together
with interest thereon at the Federal Funds Rate to the date of repayment (to the extent permitted
by applicable law), shall have been received by such Lender.

     Section 10.13. Waiver of Effect of Corporate Seal. Each Borrower represents and
warrants that neither it nor any other Loan Party is required to affix its corporate seal to this
Agreement or any other Loan Document pursuant to any requirement of law or regulation, agrees that
this Agreement is delivered by such Borrower under seal and waives any shortening of the statute of
limitations that may result from not affixing the corporate seal to this Agreement or such other
Loan Documents.

     Section 10.14. Patriot Act. The Administrative Agent and each Lender hereby notifies
the Loan Parties that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L.
107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain,
verify and record information that identifies each Loan Party, which information includes the name
and address of such Loan Party and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify such Loan Party in accordance with the Patriot
Act.

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     Section 10.15. Joint and Several Liability of Borrowers.

          (a) Each Borrower is accepting joint and several liability hereunder and under the other Loan
Documents in consideration of the financial accommodations to be provided by the Credit Providers
under this Agreement, for the mutual benefit, directly and indirectly, of each Borrower and in
consideration of the undertakings of each other Borrower to accept joint and several liability for
the Obligations.

          (b) Each Borrower, jointly and severally, hereby irrevocably and unconditionally accepts, not
merely as a surety but also as a co-debtor, joint and several liability with each other Borrower,
with respect to the payment and performance of all of the Obligations (including, without
limitation, any Obligations arising under this Section 10.15), it being the intention of
the parties hereto that all the Obligations shall be the joint and several obligations of each
Borrower without preferences or distinction among them.

          (c) If and to the extent that any Borrower shall fail to make any payment with respect to any
of the Obligations as and when due or to perform any of the Obligations in accordance with the
terms thereof, then in each such event the other Borrower(s) will make such payment with respect
to, or perform, such Obligation.

          (d) The Obligations of each Borrower under the provisions of this Section 10.15
constitute the absolute and unconditional, full recourse Obligations of each Borrower, enforceable
against each such Borrower to the full extent of its properties and assets, irrespective of the
validity, regularity, or enforceability of this Agreement or any other circumstances whatsoever.

          (e) Except as otherwise expressly provided in this Agreement, each Borrower hereby waives
notice of acceptance of its joint and several liability, notice of any Revolving Borrowings issued
under or pursuant to this Agreement, notice of the occurrence of any Default, Event of Default, or
of any demand for any payment under this Agreement, notice of any action at any time taken or
omitted by any Credit Provider under or in respect of any of the Obligations, any requirement of
diligence or to mitigate damages and, generally, to the extent permitted by applicable law, all
demands, notices and other formalities of every kind in connection with this Agreement (except as
otherwise provided in this Agreement). Each Borrower hereby assents to, and waives notice of, any
extension or postponement of the time for the payment of any of the Obligations, the acceptance of
any payment of any of the Obligations, the acceptance of any partial payment thereon, any waiver,
consent or other action or acquiescence by any Credit Provider at any time or times in respect of
any default by any Borrower in the performance or satisfaction of any term, covenant, condition or provision of this Agreement, any and all
other indulgences whatsoever by any Credit Provider in respect of any of the Obligations, and the
taking, addition, substitution, or release, in whole or in part, at any time or times, of any
security for any of the Obligations or the addition, substitution, or release, in whole or in part,
of any Borrower. Without limiting the generality of the foregoing, each Borrower assents to any
other action or delay in acting or failure to act on the part of any Credit Provider with respect
to the failure by any Borrower to comply with any of its respective Obligations, including, without
limitation, any failure strictly or diligently to assert any right or to pursue any remedy or to
comply fully with applicable laws or regulations thereunder, which might, but for the provisions

101

 

of this Section 10.15 afford grounds for terminating, discharging, or relieving any Borrower,
in whole or in part, from any of its Obligations under this Section 10.15 it being the
intention of each Borrower that, so long as any of the Obligations hereunder remain unsatisfied,
the Obligations of such Borrower under this Section 10.15 shall not be discharged except by
performance and then only to the extent of such performance. The Obligations of each Borrower
under this Section 10.15 shall not be diminished or rendered unenforceable by any winding
up, reorganization, arrangement, liquidation, reconstruction, or similar proceeding with respect to
any Borrower or any Credit Provider. The joint and several liability of Borrowers hereunder shall
continue in full force and effect notwithstanding any absorption, merger, amalgamation, or any
other change whatsoever in the name, constitution, or place of formation of any Borrower or any
Credit Provider.

          (f) Each Borrower represents and warrants to the Credit Providers that such Borrower is
currently informed of the financial condition of Borrowers and of all other circumstances which a
diligent inquiry would reveal and which bear upon the risk of nonpayment of the Obligations. Each
Borrower further represents and warrants to the Credit Providers that such Borrower has read and
understands the terms and conditions of the Loan Documents. Each Borrower hereby covenants that
such Borrower will continue to keep informed of Borrowers’ financial condition, the financial
condition of other guarantors, if any, and of all other circumstances which bear upon the risk of
nonpayment or nonperformance of the Obligations.

          (g) The provisions of this Section 10.15 are made for the benefit of the Credit
Providers and each of their respective successors and assigns, and may be enforced by it or them
from time to time against any or all of the Borrowers as often as occasion therefor may arise and
without requirement on the part of such Credit Provider(s), successor(s), or assign(s) first to
marshal any of its or their claims or to exercise any of its or their rights against any of the
other Borrowers or to exhaust any remedies available to it or them against any of the other
Borrowers or to resort to any other source or means of obtaining payment of any of the Obligations
hereunder or to elect any other remedy. The provisions of this Section 10.15 shall remain
in effect until all of the Obligations shall have been paid in full or otherwise fully satisfied.
If at any time, any payment, or any part thereof, made in respect of any of the Obligations is
rescinded or must otherwise be restored or returned by any Credit Provider upon the insolvency,
bankruptcy, or reorganization of any Borrower, or otherwise, the provisions of this Section
10.15 will forthwith be reinstated in effect, as though such payment had not been made.

          (h) Each Borrower hereby agrees that it will not enforce any of its rights of contribution or
subrogation against any other Borrower with respect to any liability incurred by it
hereunder or under any of the other Loan Documents, any payments made by it to any Credit
Provider with respect to any of the Obligations, or any collateral security therefor, until such
time as all of the Obligations have been paid in full in cash. Any claim which any Borrower may
have against any other Borrower with respect to any payments to any Credit Provider hereunder or
under any other Loan Documents are hereby expressly made subordinate and junior in right of
payment, without limitation as to any increases in the Obligations arising hereunder or thereunder,
to the prior payment in full in cash of the Obligations and, in the event of any insolvency,
bankruptcy, receivership, liquidation, reorganization, or other similar proceeding under the laws
of any jurisdiction relating to any Borrower, its debts or its assets, whether

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voluntary or involuntary, all such Obligations shall be paid in full in cash before any payment or distribution
of any character, whether in cash, securities, or other property, shall be made to any other
Borrower therefor.

          (i) Each Borrower hereby agrees that, after the occurrence and during the continuance of any
Event of Default, the payment of any amounts due with respect to the indebtedness owing by any
Borrower to any other Borrower is hereby subordinated to the prior payment in full in cash of the
Obligations. Each Borrower hereby agrees that after the occurrence and during the continuance of
any Event of Default, such Borrower will not demand, sue for, or otherwise attempt to collect any
indebtedness of any other Borrower owing to such Borrower, until the Obligations shall have been
paid in full in cash. If, notwithstanding the foregoing sentence, such Borrower shall collect,
enforce, or receive any amounts in respect of such indebtedness, such amounts shall be collected,
enforced, and received by such Borrower as trustee for the Credit Providers, and such Borrower
shall deliver any such amounts to Administrative Agent for application to the Obligations in
accordance with the terms and conditions of this Agreement.

     Section 10.16. Headings. The headings of the sections and other provisions hereof are
provided for convenience only and shall not in any way affect the meaning or construction of any
provision of this Agreement.

(remainder of page left intentionally blank)

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     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed under
seal, in the case of the Borrowers, by their respective authorized officers as of the day and year
first above written.

	 	 	 	 	 
	 	PRG-SCHULTZ INTERNATIONAL, INC.

as a Borrower

 	 
	 	By:  	/s/
Robert B. Lee 	 
	 	 	Name:  	Robert B. Lee 	 
	 	 	Title:  	Chief
Financial Officer and Treasurer 	 
	 
	 	  	  	[SEAL] 	 
	 

	 	 	 	 	 
	 	PRG-SCHULTZ USA, INC.

as a Borrower

 	 
	 	By:  	/s/
Robert B. Lee 	 
	 	 	Name:  	Robert B. Lee 	 
	 	 	Title:  	Chief
Financial Officer and Treasurer 	 
	 
	 	  	  	[SEAL] 	 
	 

	 	 	 	 	 
	 	SUNTRUST BANK

as Administrative Agent, as Issuing Bank and as a Lender

 	 
	 	By:  	/s/
D. Scott Cathcart 	 
	 	 	Name:  	D. Scott Cathcart 	 
	 	 	Title:  	First
Vice President 	 
	 

 

SCHEDULE I

APPLICABLE MARGIN AND APPLICABLE PERCENTAGE

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Applicable	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Margin for	 	Applicable	 	Applicable	 	Applicable
	 	 	 	 	 	 	LIBOR	 	Margin for	 	Percentage for	 	Margin for
	Pricing	 	 	 	 	Index Rate	 	Base Rate	 	Commitment	 	Letter of
	Level	 	 	Leverage Ratio	 	Loans	 	Loans	 	Fee	 	Credit Fees
	 	I	 	 	Less than or equal to 0.25:1.00
	 	2.25% per annum	 	2.25% per annum	 	0.50% per annum	 	2.25% per annum
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	II	 	Less than or equal to
0.75:1.00 but greater than 0.25:1.00
	 	2.50% per annum	 	2.50% per annum	 	0.50% per annum	 	2.50% per annum
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	III	 	Less than or equal to 1.25:1.00 but greater than 0.75:1.00
	 	3.00% per annum	 	3.00% per annum	 	0.50% per annum	 	3.00% per annum
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	IV	 	Greater than 1.25:1.00
	 	3.50% per annum	 	3.50% per annum	 	0.50% per annum	 	3.50% per annum

Schedule I

 

 

SCHEDULE II

COMMITMENT AMOUNTS

	 	 	 	 	 	 	 	 	 
	 	 	Revolving Commitment	 	Term Loan
	Lender	 	Amount	 	Commitment Amount
	SunTrust Bank
	 	$	15,000,000	 	 	$	15,000,000	 

Schedule II

 

 

SCHEDULE III

DARK LEASES

Office Lease Agreement, dated February 18, 2002, by and between Galleria 600, LLC and PRG-Schultz
International, Inc., as amended by the First Amendment of Lease, dated April 19, 2002, as further
amended by the Second Amendment of Lease, dated December 6, 2006. This lease is for PRGX’s
corporate headquarters at 600 Galleria Parkway, Suite 100, Atlanta, Georgia 30339.

Schedule III

 

 

SCHEDULE 3.1(b)(xvii)

MATERIAL AGREEMENTS

	1.	 	Investor Rights Agreement, dated as of August 27, 2002, among PRG-Schultz International,
Inc., Berkshire Fund V, LP, Berkshire Investors LLC and Blum Strategic Partners II, L.P.
	 
	2.	 	First Amendment to Investor Rights Agreement, dated as of March 30, 2006, among PRG-Schultz
International, Inc., Berkshire Fund V, LP, Berkshire Investors LLC and Blum Strategic
Partners II, L.P.
	 
	3.	 	Amended and Restated Standstill Agreement, dated as of July 16, 2007, among PRG-Schultz
International, Inc., Blum Capital Partners, L.P., Richard C. Blum & Associates, Inc., Blum
Strategic GP, L.L.C., Blum Strategic GP II, L.L.C., Blum Strategic Partners, L.P, Blum
Strategic Partners II, L.P., Richard C. Blum, BK Capital Partners IV, L.P., Stinson Capital
Partners, L.P., Stinson Capital Partners II, L.P., Stinson Capital Partners QP, L.P., Stinson
Capital Partners S, L.P., Stinson Capital Fund (Cayman), Ltd. and Blum Strategic Partners II
Gmbh & Co. Kg.
	 
	4.	 	Amended and Restated Restructuring Support Agreement, dated as of February 1, 2006, among
PRG-Schultz International, Inc., Blum Capital Partners, L.P., Parkcentral Global Hub Limited,
Petrus Securities L.P., Tenor Opportunity Master Fund, Ltd. and Thales Fund Management, LLC.
	 
	5.	 	Form of Performance Unit Agreement, dated as of September ___, 2006, between PRG-Schultz
International, Inc. and the “Participant” thereunder.
	 
	6.	 	Form of Amendment to Performance Unit Agreement, dated as of December ___, 2007, between
PRG-Schultz International, Inc. and the “Participant” thereunder.
	 
	7.	 	2008 PRG-Schultz Performance Bonus Plan.
	 
	8.	 	PRG-Schultz International, Inc. 2008 Equity Incentive Plan.
	 
	9.	 	Form of Nonqualified Stock Option Agreement, dated as of January ___2009, between
PRG-Schultz International, Inc. and Romil Bahl.
	 
	10.	 	Form of Restricted Stock Agreement dated as of January ___2009, between PRG-Schultz
International, Inc. and Romil Bahl.

Schedule 3.1(b)(xviii)

 

 

SCHEDULE 4.5

ENVIRONMENTAL MATTERS

None.

Schedule 3.1(b)(xviii)

 

 

SCHEDULE 4.14

SUBSIDIARIES

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Holders of Capital Stock or Other
	 	 	Jurisdiction	 	Type of	 	Interests (100% unless otherwise
	Company	 	of Formation	 	Organization	 	indicated)
	PRG-Schultz USA, Inc.1

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	The Profit Recovery Group Asia, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG-Schultz Australia, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG-Schultz Belgium, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	The Profit Recovery Group Costa Rica, Inc.

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	The Profit Recovery Group New Zealand, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	The Profit Recovery Group Netherlands, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	The Profit Recovery Group Mexico, Inc.
2

	 	Georgia
	 	corporation
	 	PRG-Schultz Canada Corp.
	PRG-Schultz France, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	The Profit Recovery Group Germany, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	The Profit Recovery Group South Africa, Inc.

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG-Schultz Switzerland, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	The Profit Recovery Group Italy, Inc.

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	The Profit Recovery Group Spain, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG-Schultz Portugal, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG International, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG USA, Inc.

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG-Schultz Scandinavia, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG-Schultz Japan, Inc.

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG-Schultz Puerto Rico, Inc.

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG-Schultz Chile, Inc.

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	PRG-Schultz Europe, Inc.2

	 	Georgia
	 	corporation
	 	PRG-Schultz International, Inc.
	The Profit Recovery Group Holdings Mexico, S de RL de CV

	 	Mexico
	 	sociedad de responsabilidad limitada de capital

variable
	 	The Profit Recovery Group Mexico, Inc.
	The Profit Recovery Group Servicios Mexico S de RL de CV

	 	Mexico
	 	sociedad de responsabilidad limitada de capital

variable
	 	The Profit Recovery Group Holdings Mexico, S de
RL de CV (≥ 99%)
The Profit Recovery Group Mexico, Inc. (≤1%)
	The Profit Recovery Group de Mexico S de RL de CV

	 	Mexico
	 	sociedad de responsabilidad limitada de capital

variable
	 	The Profit Recovery Group Holdings Mexico, S de
RL de CV (≥ 99%)
The Profit Recovery Group Mexico, Inc. (≤1%)
	The Profit Recovery Group Argentina S.A.

	 	Argentina
	 	sociedad anónima
	 	PRG-Schultz International, Inc. (95%)
PRG-Schultz USA, Inc. (5%)
	Profit Recovery Brasil Ltda.

	 	Brazil
	 	limitada
	 	PRG-Schultz International, Inc. (greater than 99%)

PRG-Schultz USA, Inc. (less than 1%)
	PRG-Schultz International PTE LTD

	 	Singapore
	 	private limited company
	 	The Profit Recovery Group Asia, Inc.
	PRG-Schultz Suzhou’ Co Ltd.

	 	China
	 	 (limited liability company)
	 	PRG-Schultz International PTE LTD
	PRG-Schultz CR s.r.o.

	 	Czech Republic
	 	společnost s ručením 
omezeným
	 	PRG-Schultz International, Inc.
	PRGFS, Inc. 2

	 	Delaware
	 	corporation
	 	PRG International, Inc.

Schedule 4.14

 

 

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Holders of Capital Stock or Other
	 	 	Jurisdiction	 	Type of	 	Interests (100% unless otherwise
	Company	 	of Formation	 	Organization	 	indicated)
	HS&A Acquisition — UK Inc.2

	 	Texas
	 	corporation
	 	PRG-Schultz International, Inc.
	Meridian Corporation Limited

	 	Jersey
	 	private company limited by shares
	 	PRG-Schultz International, Inc. (41%)
HS&A Acquisition — UK Inc. (59%)
	Tamebond Limited

	 	United Kingdom
	 	private company limited by shares
	 	Meridian Corporation Limited
	PRG-Schultz Ireland LTD

	 	Ireland
	 	private company limited by shares
	 	Meridian Corporation Limited
	PRG-Schultz UK Ltd.

	 	United Kingdom
	 	private company limited by shares
	 	Tamebond Limited
	PRG-Schultz Canada Corp.

	 	Canada
	 	corporation
	 	PRG-Schultz Canada, LLC
	PRG-Schultz (Deutschland) GmbH

	 	Germany
	 	Gesellschaft mit beschränkter Haftung
	 	The Profit Recovery Group Germany, Inc.
	PRG-Schultz Nederland B.V.

	 	Netherlands
	 	besloten vennootschap
	 	The Profit Recovery Group Netherlands, Inc.
	PRG-Schultz Italia SRL

	 	Italy
	 	società a responsabilità limitata
	 	The Profit Recovery Group Italy, Inc. (98%)
PRG-Schultz International, Inc. (2%)
	PRG-Schultz Peru S.R.L.

	 	Peru
	 	sociedad de responsabilidad limitada
	 	PRG-Schultz International, Inc. (≥ 99%)
PRG-Schultz USA Inc. (≤ 1%)
	PRG-Schultz Colombia Ltda

	 	Colombia
	 	limitada
	 	PRG-Schultz International, Inc. (≥ 99%)
PRG-Schultz USA, Inc. (≤ 1%)
	PRG-Schultz Svenska A. B.

	 	Sweden
	 	aktiebolag
	 	PRG-Schultz International, Inc.
	PRG-Schultz Venezuela S. R. L.

	 	Venezuela
	 	sociedad de responsabilidad limitada
	 	PRG-Schultz International, Inc. (≥ 99%)
PRG-Schultz USA, Inc. (≤ 1%)
	PRG-Schultz Polska Sp. Zo. O.

	 	Poland
	 	spółka z ograniczoną
odpowiedzialnością	 	PRG-Schultz International, Inc.
	Howard Schultz & Associates (Asia) 

Limited

	 	Hong Kong
	 	

(private company limited by shares)
	 	PRG-Schultz International, Inc.
	HS&A International PTE LTD

	 	Singapore
	 	private limited company
	 	PRG-Schultz International, Inc. (≥ 99%)
PRG-Schultz USA, Inc. (≤ 1%)
	PRG-Schultz (Thailand) Co., Limited
3

	 	Thailand
	 	

(private company limited by shares)
	 	PRG-Schultz International, Inc. (≥ 99%)
PRG-Schultz USA, Inc. (≤ 1%)
	Howard Schultz de Mexico, S.A. de CV

	 	Mexico
	 	sociedad anónima de capital variable
	 	PRG-Schultz Canada Corp.
	PRGDS, LLC2

	 	Georgia
	 	limited liability company
	 	PRG International, Inc.
	PRGTS, LLC2

	 	Georgia
	 	limited liability company
	 	PRG-Schultz USA, Inc.
	PRG-Schultz Brasil, LLC2

	 	Georgia
	 	limited liability company
	 	PRG-Schultz Canada Corp.
	PRG-Schultz Canada, LLC2

	 	Georgia
	 	limited liability company
	 	PRG-Schultz International, Inc.

 

			
	1	A Borrower Loan Party
	 
	
2	A Subsidiary Loan Party
	 
	3	In process of dissolution

Schedule 4.14

 

 

SCHEDULE 7.1

OUTSTANDING INDEBTEDNESS

Please see the attached spreadsheet detailing intercompany Indebtedness as at January 15, 2010.

Indebtedness incurred under that certain Amended and Restated Financing Agreement, dated as of
September 17, 2007, by and among PRG-Schultz International, Inc. (“PRGX”), PRG-Schultz USA, Inc.
(“PRGUSA” and together with PRGI, the Borrowers), each Guarantor signatory thereto, Ableco Finance,
LLC, as administrative agent and collateral agent (“Ableco”), as amended by Amendment Number One to
Amended and Restated Financing Agreement, dated as of March 28, 2008, by and among the Borrowers,
Ableco and Wells Fargo Foothill, Inc., as administrative agent (“Wells Fargo”), as further amended
by Amendment Number Two to Amended and Restated Financing Agreement, dated as of March 20, 2009, by
and among the Borrowers, Ableco and Wells Fargo, all of which indebtedness is to be repaid as of
the Closing Date.

PRGX has Capital Lease Obligations in the amount of $260,082.94 as of December 31, 2009 under that
certain Master Lease Agreement, dated as of November 1, 2006, with Seals Leasing Group, LLC.

PRGX is a guarantor of certain obligations of PRG-Schultz UK Limited (“PRGUK”) under that certain
Asset Purchase Agreement, dated July 16, 2009, between First Audit Partners LLP, PRGUK, PRGX and
the Covenantors signatory thereto. Such obligations include (i) the obligation to pay
non-contingent deferred purchase price in the amount of £1,295,559 as of December 31, 2009 and (ii)
the obligation to pay contingent earn-out payments estimated as of December 31, 2009 to be an
aggregate of £1,427,167.

PRGX has obligations owing under the Dark Leases that may constitute Indebtedness totaling
$2,833,059.09 as of December 31, 2009.

PRGX has obligations owing in respect of grants made pursuant to the PRG-Schultz International,
Inc. 2006 Management Incentive Plan that may constitute Indebtedness totaling $635,886 as of
December 31, 2009 based on the December 31, 2009 closing price of PRGX’s common stock, no par
value, of $5.91. The actual amounts to be paid in respect of such obligations, however, depends on
the closing price of PRGX’s common stock on the date of settlement of such obligations.

PRGX has obligations under severance agreements, as amended, between the Company and each of PRGX’s
former Chairman, President and CEO, John M. Cook, and former Vice Chairman, John M. Toma, in
respect of obligations to pay monthly cash installments principally over a fifty-eight month period
(with respect to Mr. Cook) and over a forty-six month period (with respect to Mr. Toma), beginning
February 1, 2006. Such severance agreements also provide for annual reimbursements, beginning on
or about February 1, 2007, to Mr. Cook and Mr. Toma for the cost of health insurance for themselves
and their respective spouses (not to exceed $25,000 and $20,000, respectively, subject to
adjustment based on changes in the Consumer Price Index),

Schedule 7.1

 

 

continuing until each reaches the age of 80. At December 31, 2009, the Company’s accrued payroll
and related expenses and noncurrent compensation obligations total $1,893,849.

If PRGX’s President and CEO, Romil Bahl, is employed on the last payroll date in July 2010, PRGX
will be obligated to pay him a one-time bonus in the aggregate amount of $1 million payable on such
date.

Schedule 7.1

 

 

Intercompany Indebtedness Spreadsheet

[See Attached]

Schedule 7.1

 

 

SCHEDULE 7.2

EXISTING LIENS

Liens contemplated under that certain Amended and Restated Financing Agreement, dated as of
September 17, 2007, by and among PRG-Schultz International, Inc. (“PRGX”), PRG-Schultz USA, Inc.
(“PRGUSA” and together with PRGX the Borrowers), each Guarantor signatory thereto, Ableco Finance,
LLC, as administrative agent and collateral agent (“Ableco”), as amended by Amendment Number One to
Amended and Restated Financing Agreement, dated as of March 28, 2008, by and among the Borrowers,
Ableco and Wells Fargo Foothill, Inc., as administrative agent (“Wells Fargo”), as further amended
by Amendment Number Two to Amended and Restated Financing Agreement, dated as of March 20, 2009, by
and among the Borrowers, Ableco and Wells Fargo, each of which lien is to be released as of the
Closing Date.

Schedule 7.2

 

 

SCHEDULE 7.4

EXISTING INVESTMENTS

Please see Schedule 7.1 for intercompany Indebtedness and investments that may constitute
Investments.

PRG Schultz International, Inc. (“PRGX”) is a guarantor of certain obligations of PRG-Schultz UK
Limited (“PRGUK”) under that certain Asset Purchase Agreement, dated July 16, 2009, between First
Audit Partners LLP, PRGUK, PRGX and the Covenantors signatory thereto. Such obligations include
(i) the obligation to pay non-contingent deferred purchase price in the amount of £1,295,559 as of
December 31, 2009 and (ii) the obligation to pay contingent earn-out payments estimated as of
December 31, 2009 to be an aggregate of £1,427,167.

Schedule 7.4

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