Document:

EX-10.34

 Exhibit 10.34 

HISTOGENICS CORPORATION 

EXECUTIVE OFFICER 

RETENTION BONUS PLAN 
  

	 	SECTION 1.	 INTRODUCTION. 

The Histogenics Corporation Executive Officer Retention Bonus Plan (the “Plan”) is hereby established effective as of
October 1, 2018 (the “Effective Date”). The purpose of the Plan is to provide for the payment of Retention Bonuses to certain eligible employees who are officers of Histogenics Corporation and its subsidiaries (the
“Company”) who continue their employment with the Company as described below. 
  

	 	SECTION 2.	 DEFINITIONS. 

For purposes of the Plan, except as otherwise set forth in the applicable participation notice, the following terms are defined as follows:

 (a)    “Base Salary” means a Participant’s annualized salary as of the Retention Date excluding
any bonuses or overtime pay, if applicable. 
 (b)    “Board” means the Board of Directors of
Histogenics Corporation or the Compensation Committee thereof. 
 (c)    “Change in Control” means
(a) the consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not stockholders of the Company immediately prior to such merger, consolidation or other
reorganization own immediately after such merger, consolidation or other reorganization 50% or more of the voting power of the outstanding securities of each of (i) the continuing or surviving entity and (ii) any direct or indirect parent
corporation of such continuing or surviving entity; or (b) the sale, transfer or other disposition of all or substantially all of the Company’s assets; provided, however, that an equity financing, whether public or private, primarily for
capital raising purposes and approved by the Board, shall not be considered a “Change in Control.” 

(d)    “Cause” shall mean the definition set forth in the offer letter and/or employment agreement
between the Company and Participant and, if not applicable, then the Company’s good faith determination that any one or more of the following has occurred with respect to the participant: 

(i)    an act or acts of personal dishonesty taken by the Participant and intended to result in substantial personal
enrichment of the Participant at the expense of the Company; 

  
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 (ii)    repeated violations by the Participant of the
Participant’s obligations to the Company (other than as a result of incapacity due to physical or mental illness) which are demonstrably willful and deliberate on the Participant’s part, which are committed in bad faith or without
reasonable belief that such violations are in the best interests of the Company and which are not remedied in a reasonable period of time after receipt of written notice from the Company; 

(iii)    conviction, indictment or plea of nolo contendere of Participant of a felony involving moral turpitude;
or 
 (iv)    the material breach of the Participant’s Proprietary Information and Inventions Agreement. 

(e)    “Code” means the Internal Revenue Code of 1986, as amended. 

(f)    “Company” means Histogenics Corporation and any successor thereto. 

(g)    “Eligible Employee” means any employee who is an officer of the Company and who receives a
notification letter of his or her participation in the Plan. 
 (h)    “Exchange Act” means the
Securities Exchange Act of 1934, as amended. 
 (i)    “Good Reason” shall mean the definition set
forth in the offer letter and/or employment agreement between the Company and Participant and, if not applicable, the occurrence of any of the circumstances set forth in clauses (i) through (iv) below without a Participant’s written
consent; provided, however, that such circumstances will not constitute Good Reason unless (x) a Participant provides the Company with written notice specifying the purported grounds for Good Reason within fifteen (15) days
following the occurrence of the applicable circumstances set forth in clauses (i) through (iv) below, (y) such applicable circumstances are not cured within fifteen (15) days after the date upon which such written notice is delivered
to the Company (the “Cure Period”), and (z) if such applicable circumstances are not cured within the Cure Period, the Participant resigns from employment within sixty (60) days following the end of the Cure Period: 

(i)    a material reduction in a Participant’s base salary; 

(ii)    a material reduction in a Participant’s duties or responsibilities; 

(iii)    relocation of Participant’s principal place of employment to a place that increases his or her one-way commute by more than forty (40) miles as compared to his or her then-current principal place of employment immediately prior to such relocation; or 

(1)    material breach by the Company of this Plan. 

(j)    “Involuntary Termination” means either (i) a Participant’s involuntary termination of
employment by the Company resulting in a Separation for other than for Cause by the Company or (ii) Separation as the result of a Participant’s resignation for Good Reason; provided that in both cases the Participant is willing and able to
continue performing services within the meaning of Treasury Regulation Section 1.409A-1(n)(1). 

  
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 (k)    “Participant” means an Eligible Employee who has
been notified in writing by the Company of his or her participation in the Plan. 
 (l)    “Plan
Administrator” means the Board or the Compensation Committee thereof. 
 (m)    “Retention
Bonus” shall mean a lump sum cash amount equal to 25% of a Participant’s Base Salary, subject to the terms and conditions set forth herein. 

(n)    “Separation” means the termination of a Participant’s employment with the Company or any of
its subsidiaries; provided that as to any payment subject to Section 409A of the Code, such termination shall also be a “separation from service” with the Company within the meaning of Treasury Regulation Section 1.409A-1(h), without regard to any permissible alternative definition thereunder. 
  

	 	SECTION 3.	 ELIGIBILITY FOR BENEFITS. 

General Rules. Eligible Employees will be notified by separate written notification of their participation in the Plan and their target
Retention Bonus amount. 
  

	 	SECTION 4.	 RETENTION BONUS. 

(a)    Retention Bonus. Subject to the provisions set forth in this Section 4 and Section 6, upon the
“Retention Date,” which is April 30, 2019, the Company will pay a Participant his or her Retention Bonus plus any additional amount provided for in their respective notification letter, subject to the Participant being employed on the
Retention Date. A Participant’s Retention Bonus shall be paid within fifteen (15) business days of the Retention Date. 

(b)    Change in Control. In the event that that the Company consummates a Change in Control prior to the payment
date provided for in Section 4(a) and the Participant is employed on the date of such transaction, then the Company shall pay the Participant his or her Retention Bonus within fifteen business days of the Change in Control. 

(c)    Involuntary Termination. In the event that a Participant is subject to an Involuntary Termination prior to
the payment of his or her Retention Bonus, then the Company shall pay the Participant his or her Retention Bonus, subject to Section 5. 

(d)    Taxes. All Retention Bonus payments shall be subject to applicable withholding for federal, state and local
taxes. 

  
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	 	SECTION 5.	 TIME AND FORM OF RETENTION BONUS IN INVOLUNTARY TERMINATION. 

(a)    General Rules. Subject to Section 6(a), any Retention Bonus provided under Section 4(c) will be
paid within 60 days after the Participant’s Involuntary Termination. However, if the 60-day period described in the preceding sentence spans two calendar years, then the payment will be made on the first
payroll period following expiration of the applicable consideration and release periods under the Release in the second calendar year. All payments hereunder shall be subject to all applicable withholding for federal, state and local taxes. In no
event shall payment of any Plan benefit be made prior to the effective date of the Release described in Section 6(a). 

(b)    Application of Section 409A. 

(i)    Any payments provided under this Plan and subject to Section 409A of the Code are intended to constitute
separate payments for purposes of Treasury Regulation Section 1.409A-2(b)(2). 

(ii)    If a Participant is a “specified employee” of the Company or any subsidiary thereof (or any successor
entity thereto) within the meaning of Section 409A(a)(2)(B)(i) of the Code on the date of a Change in Control Termination, then (i) any payments hereunder, to the extent that they are not exempt from Section 409A of the Code
(including by operation of the next following sentence) and otherwise subject to the taxes imposed under Section 409A(a)(1) of the Code (a “Deferred Payment”), will commence on the first business day following (A) the
expiration of the six-month period measured from the date of the Involuntary Termination or (B) the date of the Participant’s death and (ii) the installments that otherwise would have been paid
prior to such date will be paid in a lump sum when such payments commence. Notwithstanding the foregoing, any amount paid hereunder that either (1) satisfies the requirements of the “short-term deferral” rule set forth in Treasury
Regulation Section 1.409A-1(b)(4); or (2) (A) qualifies as a payment made as a result of an involuntary separation from service pursuant to Treasury Regulation
Section 1.409A-1(b)(9)(iii), and (B) does not exceed the Section 409A Limit will not constitute a Deferred Payment. Amounts paid under Section 4(b) are intended to be paid pursuant to the
exception provided by Treasury Regulation Section 1.409A-1(b)(9)(v)(B). Amounts paid under Section 4(d) are intended to qualify for the exception provided by Treasury Regulation Sections 1.409A-1(b)(9)(v)(A) and (C). 
 (iii)    This Plan is intended to comply with, or be
exempt from, the requirements of Section 409A of the Code so that none of the payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A of the Code, and any ambiguities herein will be
interpreted to so comply or be exempt. 
  

	 	SECTION 6.	 LIMITATION ON BENEFITS. 

(a)    Release. In order to be eligible to receive a Retention Bonus following an Involuntary Termination under the
Plan, a Participant must execute a general waiver and release (the “Release”) in substantially the form provided by the Company, and such Release must 

  
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become effective in accordance with its terms within 45 days following an Involuntary Termination; provided, however, (i) no such Release shall require the Participant to forego any
unpaid salary, any accrued but unpaid vacation pay or any benefits payable pursuant to this Plan, (ii) no such release shall require the Participant to waive any rights to indemnification under any agreement or law, and (iii) benefits
pursuant to Section 4(c) shall be paid as soon as practicable following the effective date of such Release (the “Release Effective Date”), in accordance with Section 6. The Company, in its sole discretion, may modify the
form of the required release to comply with applicable law and shall determine the form of the required release, which may be incorporated into a termination agreement or other agreement with the Participant. 

(b)    Mitigation. Except as otherwise specifically provided herein, a Participant shall not be required to
mitigate damages or the amount of any payment provided under this Plan by seeking other employment or otherwise, nor shall the amount of any payment provided for under this Plan be reduced by any compensation earned by a Participant as a result of
employment by another employer or any retirement benefits received by such Participant after the date of the Participant’s termination of employment with the Company. 

(c)    Parachute Payments. Except as otherwise provided in an agreement between a Participant and the Company, if
any payment or benefit the Participant would receive in connection with a Change in Control from the Company or otherwise (“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G
of the Code and is not otherwise exempt, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount;
provided, that to the extent any Retention Bonus granted pursuant to this Plan would subject a Participant to Section 280G of the Code or otherwise increase the amount of Excise Tax imposed, such Participant shall cease to be a Participant
under this Plan and shall not be eligible to receive a Retention Bonus. For avoidance of doubt, any participation notice or letter received by such individual shall be void and cease to be in effect. The “Reduced Amount” shall be either
(x) the largest portion of the Payment that would result in no portion of the Payment being subject to the Excise Tax, or (y) the largest portion, up to and including the total, of the Payment, whichever amount, after taking into account
all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in the Participant’s receipt of the greatest economic benefit notwithstanding that all or
some portion of the Payment may be subject to the Excise Tax. If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Payment equals the Reduced Amount, any reduction shall be applied first, on a
pro rata basis, to amounts that constitute deferred compensation within the meaning of Section 409A of the Code, and, in the event that the reductions pursuant to this Section 6(d) exceed payments that are subject to
Section 409A of the Code, the remaining reductions shall be applied, on a pro rata basis, to any other remaining payments. The Company’s determinations hereunder shall be final, binding and conclusive on all interested parties. 

 

	 	SECTION 7.	 RIGHT TO INTERPRET PLAN; AMENDMENT AND TERMINATION. 

(a)    Exclusive Discretion. The Plan Administrator shall have the sole and absolute discretion and authority to
establish rules, forms, and procedures for the administration 

  
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of the Plan and to construe and interpret the Plan and to decide any and all questions of fact, interpretation, definition, computation or administration arising in connection with the operation
of the Plan, including, but not limited to, the eligibility to participate in the Plan and amount of benefits paid under the Plan. The rules, interpretations, computations and other actions of the Plan Administrator shall be binding and conclusive
on all persons. 
 (b)    Amendment. The Company reserves the right to amend this Plan provided that such
amendment shall not adversely affect a Participant’s eligibility for, or the amount of the, Retention Bonus, unless such Participant consents in writing to such amendment. 

(c)    Termination. The Plan shall expire on the payment of all Retention Bonuses under the Plan. 

 

	 	SECTION 8.	 NO IMPLIED EMPLOYMENT CONTRACT. 

The Plan shall not be deemed (a) to give any employee or other person any right to be retained in the employ of the Company, or
(b) to interfere with the right of the Company to discharge any employee or other person at any time, with or without cause, and with or without advance notice, which right is hereby reserved. 

 

	 	SECTION 9.	 LEGAL CONSTRUCTION. 

This Plan is intended to be governed by and shall be construed in accordance with the laws of the Commonwealth of Massachusetts (without regard
to its conflict of laws principles). 
  

	 	SECTION 10.	 GENERAL PROVISIONS. 

(a)    Notices. Any notice, demand or request required or permitted to be given by either the Company or a
Participant pursuant to the terms of this Plan shall be in writing and shall be deemed given when delivered personally or deposited in the U.S. mail, First Class with postage prepaid, and addressed to the parties, in the case of the Company, at
Histogenics Corporation, Attn: President and Chief Executive Officer, 830 Winter Street, 3rd Floor Waltham, Massachusetts 02451, and, in the case of a Participant, at the address as set forth in the Company’s employment file maintained for the
Participant as previously furnished by the Participant or such other address as a party may request by notifying the other in writing. 

(b)    Basis of Payments. The Plan shall be unfunded, and all benefits hereunder shall be paid only from the
general assets of the Company. 
 (c)    Transfer and Assignment. The rights and obligations of a Participant
under this Plan may not be transferred or assigned without the prior written consent of the Company. This Plan shall be binding upon any surviving entity resulting from a Change in Control and upon any other person who is a successor by merger,
acquisition, consolidation or otherwise to the business formerly carried on by the Company without regard to whether or not such person or entity actively assumes the obligations hereunder. 

(d)    Waiver and Costs of Enforcement. Any party’s failure to enforce any provision or provisions of this
Plan shall not in any way be construed as a waiver of any such 

  
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provision or provisions, nor prevent any party from thereafter enforcing each and every other provision of this Plan. The rights granted to the parties herein are cumulative and shall not
constitute a waiver of any party’s right to assert all other legal remedies available to it under the circumstances. All out-of-pocket costs and expenses reasonably
incurred by a Participant (including attorneys’ fees) in connection with enforcing the Participant’s rights under the Plan shall be paid by the Company if such rights relate to a Change in Control Termination that occurs any time after the
effective date of the first Change in Control that occurs after the Participant commences participation in the Plan. Notwithstanding the foregoing, if the Participant initiates any claim or action and the claim or action is either totally without
merit or frivolous, the Participant shall be responsible for the Participant’s own costs and expenses. 

(e)    Severability. Should any provision of this Plan be declared or determined to be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired. 

(f)    Section Headings. Section headings in this Plan are included for convenience of reference only and shall not
be considered part of this Plan for any other purpose. 
  

	 	SECTION 11.	 EXECUTION. 

To record the adoption of the Plan as set forth herein Histogenics Corporation has caused its duly authorized officer to execute the same as of
the Effective Date. 

  
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	HISTOGENICS CORPORATION
		
	By:	 	 /s/ Adam Gridley

	Name:	 	Adam Gridley
	Title:	 	President and Chief Executive Officer

  
 8EX-10.1

 Exhibit 10.1 

Execution Version 

TWELFTH LOAN DOCUMENTS MODIFICATION AGREEMENT 

THIS TWELFTH LOAN DOCUMENTS MODIFICATION AGREEMENT (this “Amendment”) is made and entered into as of the 28th day of
September, 2018, by and among PRGX GLOBAL, INC., a Georgia corporation (“PRGX”), PRGX USA, INC., a Georgia corporation (“PRG-USA”) (PRGX and
PRG-USA are each individually, a “Borrower”, and collectively, the “Borrowers”), each of the Subsidiaries of PRGX listed as a “Guarantor” on the signature pages
hereto (each such Subsidiary individually, a “Guarantor”, and collectively, the “Guarantors”), and SUNTRUST BANK, as Administrative Agent, the sole Lender and Issuing Bank. 

BACKGROUND STATEMENT 
 WHEREAS,
Borrowers have entered into that certain Amended and Restated Revolving Credit Agreement, dated as of December 23, 2014 (as may have been and may be subsequently amended, restated, supplemented or otherwise modified from time-to-time, the “Credit Agreement”; all capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Credit
Agreement), with the Administrative Agent, the issuing bank thereunder and the lenders from time to time party thereto (the “Lenders”); and 

WHEREAS, Borrowers and Guarantors have entered into various other instruments, agreements, documents and writings in connection with the
Credit Agreement (as may have been and may be subsequently amended, restated, supplemented or otherwise modified from time-to-time, collectively, the “Loan
Documents”); and 
 WHEREAS, Borrowers have requested that the Credit Agreement be amended in certain respects as herein provided
in order to clarify or modify certain existing provisions contained therein, and in connection therewith, Administrative Agent, the Issuing Bank and the Lenders have requested that the Credit Agreement also be amended in certain further respects as
herein provided, all as more specifically set forth herein; and 
 WHEREAS, the parties hereto are willing to amend the Credit Agreement as
aforesaid, provided, however, that Borrowers and Guarantors fully comply with the provisions of this Amendment; and 

WHEREAS, Guarantors are willing to reaffirm the covenants, representations and warranties set forth in the Subsidiary Guaranty Agreement. 

NOW, THEREFORE, for and in consideration of the above premises and other good and valuable consideration, the receipt and sufficiency of which
hereby is acknowledged by the parties hereto, Borrowers, Guarantors, Administrative Agent, the sole Lender and Issuing Bank agree as follows: 

1. Conditions Precedent. Notwithstanding any other provision of this Amendment, and without affecting in any manner the rights of
Administrative Agent, the sole Lender or the Issuing Bank hereunder, it is understood and agreed that this Amendment shall not become effective, and the Loan Parties shall have no rights under this Amendment, until Administrative Agent shall have
received: 
 (i) fully executed counterparts to this Amendment from the Loan Parties; and 

 (ii) reimbursement or payment of all its reasonable out-of-pocket expenses incurred in connection with this Amendment (including, without limitation, reasonable fees, charges and disbursements of counsel to Administrative Agent). 

2. Modification of Credit Agreement. The Credit Agreement is hereby amended, effective as of the date hereof, as follows: 

(i) By amending and restating Section 6.2, as follows: 

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 March 31, 2017), a Fixed Charge Coverage Ratio of not less than the below ratios for the corresponding Fiscal Quarters: 

 

			
	 Fiscal Quarter End
	  	Fixed Charge
Coverage Ratio
		
	12/31/16 and each Fiscal Quarter thereafter through and including the Fiscal Quarter ending 12/31/17	  	1.10 : 1.00
		
	3/31/18 and 6/30/18	  	1.25 : 1.00
		
	9/30/18	  	1.00 : 1.00
		
	12/31/18 and each Fiscal Quarter thereafter	  	1.25 : 1.00

 (ii) By amending and restating the final paragraph of Section 7.1 immediately following clause
(l) thereof, as follows: 
 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 (any such preferred stock or other preferred equity interests described in clause (i), (ii) or (iii) being herein referred to
as “Disqualified Stock”). 

  
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 (iii) By amending and restating subsection (h) of Section 7.4 to read in its
entirety as follows: 
 (h) To the extent permitted by Section 7.5(iv), PRGX’s redemption,
purchase or repurchase of its Capital Stock (other than Disqualified Stock) pursuant to open-market purchases, privately negotiated transactions or otherwise; 

(iv) By amending and restating clause (iv) of Section 7.5 to read in its entirety as follows: 

(v) if no Event of Default exists and is continuing (or would result therefrom), the redemption, purchase or repurchase of
PRGX’s Capital Stock (other than Disqualified Stock) by PRGX pursuant to any open-market purchases, privately negotiated transactions or otherwise. 

3. Ratification and Reaffirmation. Except as herein expressly modified or amended, all the terms and conditions of the Credit Agreement
and the other Loan Documents are hereby ratified, affirmed, and approved. As of the date hereof and giving effect to the modifications and amendments hereunder, Borrowers and Guarantors hereby reaffirm and restate each and every warranty and
representation set forth in any Loan Document, in each case except to the extent such warranty or representation expressly relates to an earlier date. 

4. Reaffirmation of Guaranty. Guarantors hereby ratify, confirm, reaffirm and covenant that the Subsidiary Guaranty Agreement which
they have executed is validly existing and binding against each of them under the terms of such Subsidiary Guaranty Agreement. Guarantors hereby reaffirm and restate, as of the date hereof and giving effect to the modifications and amendments
hereunder, all covenants, representations and warranties set forth in the Subsidiary Guaranty Agreement, and specifically reaffirm that each of their obligations under the Subsidiary Guaranty Agreement extend and apply for all purposes to the Credit
Agreement as amended hereby. 
 5. No Novation. The parties hereto hereby acknowledge and agree that this Amendment shall not
constitute a novation of the indebtedness evidenced by any of the Loan Documents, and further that the terms and provisions of the Loan Documents shall remain valid and in full force and effect except as be herein modified and amended. 

6. Release. For purposes of this Paragraph 6, the term “Borrower Parties” shall mean Borrowers and Guarantors
collectively and the term “Lender Parties” shall mean Administrative Agent, Lenders and Issuing Bank, and shall include each of their respective predecessors, successors and assigns, and each past and present, direct and indirect,
parent, subsidiary and affiliated entity of each of the foregoing, and each past and present employee, agent, attorney in fact, attorney at law, representative, officer, director, shareholder, partner and joint venturer of each of the foregoing, and
each heir, executor, administrator, successor and assign of each of the foregoing; references in this paragraph to “any” of such parties shall be deemed to mean “any one or more” of such parties; and references in this sentence
to “each of the foregoing” shall mean and refer cumulatively to each party referred to in this sentence up to the point of such reference. Each Borrower and each Guarantor hereby acknowledges, represents

  
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and agrees: that, as of the date hereof, Borrowers and Guarantors have no defenses, setoffs, claims, counterclaims or causes of action of any kind or nature whatsoever with respect to the Credit
Agreement, the Subsidiary Guaranty Agreement, the other Loan Documents or the Obligations, or with respect to any other documents or instruments now or heretofore evidencing, securing or in any way relating to the Obligations (all of said defenses,
setoffs, claims, counterclaims or causes of action being hereinafter referred to as “Loan Related Claims”); that, to the extent that Borrowers or Guarantors may be deemed to have any Loan Related Claims as of the date hereof,
Borrowers and Guarantors do hereby expressly waive, release and relinquish any and all such Loan Related Claims, whether or not known to or suspected by Borrowers and Guarantors; that Borrowers and Guarantors shall not institute or cause to be
instituted any legal action or proceeding of any kind based upon any Loan Related Claims; and that Borrowers and Guarantors shall indemnify, hold harmless and defend all Lender Parties from and against any and all Loan Related Claims and any and all
losses, damages, liabilities and related reasonable expenses (including reasonable fees, charges and disbursements of any counsel for any Lender Parties) suffered or incurred by any Lender Parties as a result of any assertion or allegation by any
Borrower Parties of any Loan Related Claims or as a result of any legal action related thereto, provided that such indemnity shall not, as to any Lender Parties, 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 non-appealable judgment to have resulted from (i) the gross negligence or willful misconduct of such Lender Parties or
(ii) a claim brought by any Borrower or Guarantor against any Lender Parties for breach in bad faith of such Lender Parties’ obligations under any Loan Document. Notwithstanding the foregoing provisions of this Paragraph 8, Borrowers and
Guarantors make no such releases, representations, warranties, standstills or agreements with respect to any future Loan Related Claims. 

7. Authority. Each Borrower and Guarantor hereby represents and warrants that the execution, delivery and performance of this Amendment
by it has been duly authorized by all necessary actions of each Borrower and Guarantor, and do not and will not violate any provision of law, or any writ, order or decree of any court or governmental authority or agency or any provision of the
organizational documents of any Borrower or Guarantor, and do not and will not, with the passage of time or the giving of notice, result in a breach of, or constitute a default or require any consent under, or result in the creation of any Lien upon
any property or assets of any Borrower or Guarantor pursuant to, any law, regulation, instrument or agreement to which any Borrower or Guarantor is a party or by which any Borrower or any Guarantor or any of their respective properties may be
subject, bound or affected. 
 8. No Waiver or Implication. Borrowers and Guarantors hereby agree that, except as contemplated by the
clarifying amendments to the Credit Agreement effected by this Amendment, nothing herein shall constitute a waiver by Administrative Agent or any Lender of any default, whether known or unknown, which may now exist under the Credit Agreement or any
other Loan Document. Borrowers and Guarantors hereby further agree that no action, inaction or agreement by Administrative Agent or any Lender, including, without limitation, any extension, indulgence, waiver, consent or agreement of modification
which may have occurred or have been granted or entered into (or which is now occurring or is being granted or entered into hereunder or otherwise) with respect to nonpayment of the Loans or any portion thereof, or with respect to matters involving
security for the Loans, or with respect to any other matter 

  
 4 

 
relating to the Loans, shall require or imply any future extension, indulgence, waiver, consent or agreement by Administrative Agent or any Lender. Borrowers and Guarantors hereby acknowledge and
agree that Administrative Agent and Lenders have made no agreement, and are in no way obligated, to grant any future extension, indulgence, waiver or consent with respect to the Loans or any matter relating to the Loans. 

9. No Release of Collateral Borrowers and Guarantors further acknowledge and agree that (x) this Amendment shall in no way
occasion a release of any collateral held by Administrative Agent as security to or for the Loans; and (y) all collateral held by Administrative Agent as security to or for the Loans shall continue to secure the Loans. 

10. Strict Compliance. Except as expressly modified hereby, Borrowers and Guarantors are hereby notified that Administrative Agent, the
Issuing Bank and the Lenders demand that Borrowers and Guarantors strictly comply with the terms of this Amendment, the Credit Agreement and the other Loan Documents, in each case, as amended hereby. This notice evidences the intent of
Administrative Agent, the Issuing Bank and the Lenders to rely on the exact terms of this Amendment and the Credit Agreement and the other Loan Documents, in each case, as amended hereby. 

11. Counterparts. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original hereof and
submissible into evidence and all of which together shall constitute one instrument. 
 12. Headings. The headings of the paragraphs
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 Amendment. 

13. Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of Borrowers, Guarantors, Administrative
Agent, Lenders, Issuing Bank and their respective heirs, successors and assigns, whether voluntary by act of the parties or involuntary by operation of law. 

(Signatures on following pages) 

  
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 IN WITNESS WHEREOF, this Amendment has been duly executed by the parties hereto as of the
day and year first above written. 
  

					
	 Borrowers:

		
		 	PRGX GLOBAL, INC., a Georgia corporation
			
		 	By:	 	/s/ Ronald E. Stewart
		 	Name:	 	Ronald E. Stewart
		 	Title:	 	President and Chief Executive Officer
		 	[CORPORATE SEAL]
		
		 	PRGX USA, INC., a Georgia corporation
			
		 	By:	 	/s/ Ronald E. Stewart
		 	Name:	 	Ronald E. Stewart
		 	Title:	 	President and Chief Executive Officer
		 	[CORPORATE SEAL]
	
	Guarantors:
		
		 	PRGDS, LLC, a Georgia limited liability company
			
		 	By:	 	/s/ Ronald E. Stewart
		 	Name:	 	Ronald E. Stewart
		 	Title:	 	President and Chief Executive Officer
		 	[CORPORATE SEAL]
		
		 	PRGFS, INC., a Delaware corporation
			
		 	By:	 	/s/ Ronald E. Stewart
		 	Name:	 	Ronald E. Stewart
		 	Title:	 	President and Chief Executive Officer
		 	[CORPORATE SEAL]

 (Signatures continue on following page) 

Twelfth Loan Documents Modification Agreement 

 
			
	PRG INTERNATIONAL, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

  

			
	PRGTS, LLC, a Georgia limited liability company
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

  

			
	PRGX ASIA, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

  

			
	PRGX AUSTRALIA, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

 (Signatures continue on following page) 

Twelfth Loan Documents Modification Agreement 

 
			
	PRGX BELGIUM, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

  

			
	PRGX BRASIL, LLC, a Georgia limited liability company
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

  

			
	PRGX CANADA, LLC, a Georgia limited liability company
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

  

			
	PRGX EUROPE, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

 (Signatures continue on following page) 

Twelfth Loan Documents Modification Agreement 

 
			
	PRGX FRANCE, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]
	
	PRGX GERMANY, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]
	
	PRGX MEXICO, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]
	
	PRGX NETHERLANDS, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

 (Signatures continue on following page) 

Twelfth Loan Documents Modification Agreement 

 
			
	PRGX NEW ZEALAND, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

  

			
	PRGX PORTUGAL, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

  

			
	PRGX SCANDINAVIA, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

  

			
	PRGX SPAIN, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

 (Signatures continue on following page) 

Twelfth Loan Documents Modification Agreement 

 
			
	PRGX SWITZERLAND, INC., a Georgia corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]
	
	PRGX TEXAS, INC., a Texas corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]
		
	PRGX	 	COMMERCIAL LLC, a Georgia limited
	liability company
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]
	
	LAVANTE, INC., a Delaware corporation
		
	By:	 	/s/ Ronald E. Stewart
	Name:	 	Ronald E. Stewart
	Title:	 	President and Chief Executive Officer
	[CORPORATE SEAL]

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Twelfth Loan Documents Modification Agreement 

 
			
	Administrative Agent, Lender and Issuing Bank:
	
	 SUNTRUST BANK, as Administrative Agent, the sole Lender and Issuing Bank

		
	By:	 	/s/ Julie Lindberg
	Name:	 	Julie Lindberg
	Title:	 	Vice President

 (End of signatures) 

Twelfth Loan Documents Modification Agreement

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