Document:

Strategic Consulting Service Warrants

 Exhibit 4.6 
 NEITHER THESE SECURITIES NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN
RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS THEREUNDER AND IN COMPLIANCE WITH APPLICABLE STATE SECURITIES OR BLUE SKY LAWS. 
 SONIC FOUNDRY, INC. 
 WARRANT 

 

			
	2006-105	  	Dated: June 6, 2006                

Sonic Foundry, Inc., a Maryland corporation (the “Company”), hereby certifies that, in exchange for services to
be provided, Jonathan Hodson-Walker (“Holder”) is entitled, subject to the terms set forth below, to purchase from the Company up to a total of 26,250 shares of common stock, $.01 par value per share (the “Common Stock”), of the
Company (each such share, a “Warrant Share” and all such shares, the “Warrant Shares”) at an exercise price equal to $2.11 per share (as adjusted from time to time as provided in Section 9, the “Exercise Price”),
at any time and from time to time from and after the date hereof and through and including June 6, 2011 (the “Expiration Date”), and subject to the following terms and conditions: 

1.                      
  Registration of Warrant on Books and Records of the Company. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record
Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, and the Company
shall not be affected by notice to the contrary. 

2.                        
Registration of Transfers and Exchanges. 

(a)                      
          The Company shall register the transfer of any portion of this Warrant in the Warrant Register, upon surrender of this Warrant, with the Form of Assignment attached hereto duly completed and
signed, to the Transfer Agent or to the Company at the office specified in or pursuant to Section 3(b). Upon any such registration or transfer, a new warrant to purchase Common Stock, in substantially the form of this Warrant (any such new
warrant, a “New Warrant”), evidencing the portion of this Warrant so transferred shall be issued to the transferee and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued to the
transferring Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance of such transferee of all of the rights and obligations of a holder of a Warrant. 

(b)                      
          This Warrant is exchangeable, upon the surrender hereof by the Holder to the office of the Company specified in or pursuant to Section 3(b) for one or more New Warrants, evidencing in
the aggregate the right to purchase the number of Warrant Shares which may then be purchased hereunder. Any such New Warrant will be dated the date of such exchange. 
 3.                         Duration and Exercise of Warrants. 

(a)                      
          This Warrant shall be exercisable by the registered Holder on any business day before 8:00 P.M., New York City time, at any time and from time to time on or after the date hereof to and
including the Expiration Date. At 8:00 P.M., New York City time on the Expiration Date, the portion of this Warrant not exercised prior thereto shall be and become void and of no value. Prior to the Expiration Date, the Company may not call or
otherwise redeem this Warrant without the prior written consent of the Holder. 

(b)                      
          Subject to Sections 2(b), 6 and 10, upon surrender of this Warrant, with the Form of Election to Purchase attached hereto duly completed and signed, to the Company at its address for notice
set forth in Section 13 and upon payment of the Exercise Price multiplied by the number of Warrant Shares that the Holder intends to purchase hereunder, in the manner provided hereunder, all as specified by the Holder in the Form of Election to
Purchase, the Company shall promptly (but in no event later than 3 business days after the Date of Exercise (as defined herein)) issue or cause to be issued and cause to be delivered to or upon the written order of the Holder and in such name or
names as the Holder may designate, a certificate for the Warrant Shares issuable upon such exercise, free of restrictive legends except (i) either in the event that a registration statement covering the resale of the Warrant Shares and naming
the Holder as a selling stockholder thereunder is not then effective or the Warrant Shares are not freely transferable without volume restrictions pursuant to Rule 144(k) promulgated under the Securities Act of 1933, as amended (the “Securities
Act”), or (ii) if this Warrant shall have been issued pursuant to a written agreement between the original Holder and the Company, as required by such agreement. Any person so designated by the Holder to receive Warrant Shares

  
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shall be deemed to have become holder of record of such Warrant Shares as of the Date of Exercise of this Warrant. 

A “Date of Exercise” means the date on which the Company shall have received (i) this Warrant (or any New
Warrant, as applicable), with the Form of Election to Purchase attached hereto (or attached to such New Warrant) appropriately completed and duly signed, and (ii) payment of the Exercise Price for the number of Warrant Shares so indicated by
the holder hereof to be purchased. 
 This Warrant shall be exercisable, either in its entirety or, from time
to time, for a portion of the number of Warrant Shares. If less than all of the Warrant Shares which may be purchased under this Warrant are exercised at any time, the Company shall issue or cause to be issued, at its expense, a New Warrant
evidencing the right to purchase the remaining number of Warrant Shares for which no exercise has been evidenced by this Warrant. 
 4.                                 
  Payment of Taxes. The Company will pay all documentary stamp taxes attributable to the issuance of Warrant Shares upon the exercise of this Warrant; provided, however, that the Company shall not be required to pay any tax which may
be payable in respect of any transfer involved in the registration of any certificates for Warrant Shares or Warrants in a name other than that of the Holder. The Holder shall be responsible for all other tax liability that may arise as a result of
holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof. 

5.                      
             Replacement of Warrant. If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and
upon cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and indemnity, if requested, satisfactory to it.
Applicants for a New Warrant under such circumstances shall also comply with such other reasonable regulations and procedures and pay such other reasonable charges as the Company may prescribe. 

6.                      
             Reservation of Warrant Shares. The Company covenants that it will at all times reserve and keep available out of the aggregate of its authorized but unissued Common
Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise of this Warrant as herein provided, the number of Warrant Shares which are then issuable and deliverable upon the exercise of this entire Warrant, free from
preemptive rights or any other actual contingent purchase rights of persons other than the Holder (taking into account the adjustments and restrictions of Section 9). The Company covenants that all Warrant Shares that shall be so issuable and
deliverable shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly authorized, issued and fully paid and nonassessable. 

  
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7.                      
             Certain Adjustments. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth
in this Section 8. Upon each such adjustment of the Exercise Price pursuant to this Section 8, the Holder shall thereafter prior to the Expiration Date be entitled to purchase, at the Exercise Price resulting from such adjustment, the
number of Warrant Shares obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of Warrant Shares issuable upon exercise of this Warrant immediately prior to such adjustment and dividing the product
thereof by the Exercise Price resulting from such adjustment. 

(a)                      
             If the Company, at any time while this Warrant is outstanding, (i) shall pay a stock dividend (except scheduled dividends paid on outstanding preferred stock as of the
date hereof which contain a stated dividend rate) or otherwise make a distribution or distributions on shares of its Common Stock or on any other class of capital stock payable in shares of Common Stock, (ii) subdivide outstanding shares of
Common Stock into a larger number of shares, or (iii) combine outstanding shares of Common Stock into a smaller number of shares, the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of
Common Stock (excluding treasury shares, if any) outstanding before such event and of which the denominator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding after such event. Any adjustment made pursuant
to this Section shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a
subdivision or combination, and shall apply to successive subdivisions and combinations. 

(b)                      
             In case of any reclassification of the Common Stock, any consolidation or merger of the Company with or into another person, the sale or transfer of all or substantially
all of the assets of the Company or any compulsory share exchange pursuant to which the Common Stock is converted into other securities, cash or property, then the Holder shall have the right thereafter to exercise this Warrant only into the shares
of stock and other securities and property receivable upon or deemed to be held by holders of Common Stock following such reclassification, consolidation, merger, sale, transfer or share exchange, and the Holder shall be entitled upon such event to
receive such amount of securities or property equal to the amount of Warrant Shares such Holder would have been entitled to had such Holder exercised this Warrant immediately prior to such reclassification, consolidation, merger, sale, transfer or
share exchange. The terms of any such consolidation, merger, sale, transfer or share exchange shall include such terms so as to continue to give to the Holder the right to receive the securities or property set forth in this Section 9(b) upon
any exercise following any such reclassification, consolidation, merger, sale, transfer or share exchange. 

(c)                      
             If the Company, at any time while this Warrant is outstanding, shall distribute to all holders of Common Stock (and not to holders of this Warrant) evidences of its
indebtedness or assets or rights or warrants to subscribe for or purchase any security (excluding those referred to in Sections 8(a), (b) and (d)), then in each such case the Exercise Price shall be determined by multiplying the Exercise Price
in effect immediately prior to the record date fixed 

  
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for determination of stockholders entitled to receive such distribution by a fraction of which the denominator shall be the Exercise Price determined as of the record date mentioned above, and of
which the numerator shall be such Exercise Price on such record date less the then fair market value at such record date of the portion of such assets or evidence of indebtedness so distributed applicable to one outstanding share of Common Stock as
determined by the Company’s independent certified public accountants that regularly examines the financial statements of the Company (an “Appraiser”). 
 (d)                                 
  In case of any (1) merger or consolidation of the Company with or into another Person, or (2) sale by the Company of more than one-half of the assets of the Company (on a book value basis) in one or a series of related
transactions, or (3) tender or other offer or exchange (whether by the Company or another Person) pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, stock, cash or property of the
Company or another Person; then the Holder shall have the right thereafter to (A) exercise this Warrant for the shares of stock and other securities, cash and property receivable upon or deemed to be held by holders of Common Stock following
such merger, consolidation or sale, and the Holder shall be entitled upon such event or series of related events to receive such amount of securities, cash and property as the Common Stock for which this Warrant could have been exercised immediately
prior to such merger, consolidation or sales would have been entitled, (B) in the case of a merger or consolidation, (x) require the surviving entity to issue to the Holder a warrant entitling the Holder to acquire shares of such
entity’s common stock, which warrant shall have terms identical (including with respect to exercise) to the terms of this Warrant and shall be entitled to all of the rights and privileges set forth herein and the agreements pursuant to which
this Warrant was issued (including, without limitation, as such rights relate to the acquisition, transferability, registration and listing of such shares of stock other securities issuable upon exercise thereof), or (C) in the event of an
exchange or tender offer or other transaction contemplated by clause (3) of this Section, tender or exchange this Warrant for such securities, stock, cash and other property receivable upon or deemed to be held by holders of Common Stock that
have tendered or exchanged their shares of Common Stock following such tender or exchange, and the Holder shall be entitled upon such exchange or tender to receive such amount of securities, cash and property as the shares of Common Stock for which
this Warrant could have been exercised immediately prior to such tender or exchange would have been entitled as would have been issued. In the case of clause (B), the exercise price applicable for the newly issued warrant shall be based upon the
amount of securities, cash and property that each shares of Common Stock would receive in such transaction and the Exercise Price immediately prior to the effectiveness or closing date for such transaction. The terms of any such merger, sale,
consolidation, tender or exchange shall include such terms so as continue to give the Holder the right to receive the securities, cash and property set forth in this Section upon any conversion or redemption following such event. This provision
shall similarly apply to successive such events. 

(e)                      
             For the purposes of this Section 8, the following clauses shall also be applicable: 

  
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(i)                    
       Record Date. In case the Company shall take a record of the holders of its Common Stock for the purpose of entitling them (A) to receive a dividend or other distribution payable in Common Stock or
in securities convertible or exchangeable into shares of Common Stock, or (B) to subscribe for or purchase Common Stock or securities convertible or exchangeable into shares of Common Stock, then such record date shall be deemed to be the date
of the issue or sale of the shares of Common Stock deemed to have been issued or sold upon the declaration of such dividend or the making of such other distribution or the date of the granting of such right of subscription or purchase, as the case
may be. 

(ii)                   
        Treasury Shares. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account of the Company, and the disposition of any such
shares shall be considered an issue or sale of Common Stock. 

(f)                      
             No adjustments in the Exercise Price shall be required if such adjustment is less than $0.01; provided, however, that any adjustments which by reason of this Section 8
are not required to be made shall be carried forward and taken into account in any subsequent adjustment. All calculations under this Section 8 shall be made to the nearest cent or to the nearest 1/100th of a share, as the case may be.

(g)                      
             Whenever the Exercise Price is adjusted pursuant to Section 8(c) above, the Holder, after receipt of the determination by the Appraiser, shall have the right to select
an additional appraiser (which shall be a nationally recognized accounting firm), in which case the adjustment shall be equal to the average of the adjustments recommended by each of the Appraiser and such appraiser. The Holder shall promptly mail
or cause to be mailed to the Company, a notice setting forth the Exercise Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Such adjustment shall become effective immediately after the record
date mentioned above. 

(i)                         
          If: 
  

	 	(i)	the Company shall declare a dividend (or any other distribution) on its Common Stock; or 

 

	 	(ii)	the Company shall declare a special nonrecurring cash dividend on or a redemption of its Common Stock; or 

 

	 	(iii)	the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or
of any rights; or 

  
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	 	(iv)	the approval of any stockholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the
Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property; or 

 

	 	(v)	the Company shall authorize the voluntary dissolution, liquidation or winding up of the affairs of the Company, 

then the Company shall cause to be mailed to each Holder at their last addresses as they shall appear upon the Warrant Register, at least
30 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a
record is not to be taken, the date as of which the holders of Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification,
consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their shares of Common Stock for
securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer, share exchange, dissolution, liquidation or winding up; provided, however, that the failure to mail such notice or any
defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice. 
 10.                                 
  Payment of Exercise Price. The Holder shall pay the Exercise Price in immediately available funds. 

11.                      
             Fractional Shares. The Company shall not be required to issue or cause to be issued fractional Warrant Shares on the exercise of this Warrant. The number of full
Warrant Shares which shall be issuable upon the exercise of this Warrant shall be computed on the basis of the aggregate number of Warrant Shares purchasable on exercise of this Warrant so presented. If any fraction of a Warrant Share would, except
for the provisions of this Section, be issuable on the exercise of this Warrant, the Company shall pay an amount in cash equal to the Exercise Price multiplied by such fraction. 

12.                      
             Notices. Any and all notices or other communications or deliveries hereunder shall be in writing and shall be deemed given and effective on the earliest of
(i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile telephone number specified in this Section prior to 8:00 p.m. (New York City time) on a business day, (ii) the business day after the
date of transmission, if such notice or communication is 

  
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delivered via facsimile at the facsimile telephone number specified in this Section later than 8:00 p.m. (New York City time) on any date and earlier than 11:59 p.m. (New York City time) on such
date, (iii) the business day following the date of mailing, if sent by nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice is required to be given. The addresses for such
communications shall be: (i) if to the Company, to Sonic Foundry, Inc., 222 W. Washington Avenue, Suite 775, Madison, Wisconsin 53703, Attention: Chief Financial Officer, or to Facsimile No. (608) 443-1609, or (ii) if to the Holder,
to the Holder at the address or facsimile number appearing on the Warrant Register or such other address or facsimile number as the Holder may provide to the Company in accordance with this Section. 

13.                      
            Warrant Agent. The Company shall serve as warrant agent under this Warrant. Upon thirty (30) days’ notice to the Holder, the Company may appoint a new warrant
agent. Any corporation into which the Company or any new warrant agent may be merged or any corporation resulting from any consolidation to which the Company or any new warrant agent shall be a party or any corporation to which the Company or any
new warrant agent transfers substantially all of its corporate trust or shareholders services business shall be a successor warrant agent under this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its
succession as warrant agent to be mailed (by first class mail, postage prepaid) to the Holder at the Holder’s last address as shown on the Warrant Register. 
 14.                                 
 Miscellaneous. 

(a)                      
            This Warrant shall be binding on and inure to the benefit of the parties hereto and their respective successors and assigns. This Warrant may be amended only in writing signed by
the Company and the Holder and their successors and assigns. 

(b)                      
            Subject to Section 14(a), above, nothing in this Warrant shall be construed to give to any person or corporation other than the Company and the Holder any legal or equitable
right, remedy or cause under this Warrant. This Warrant shall inure to the sole and exclusive benefit of the Company and the Holder. 
 (c)                                 
 The corporate laws of the State of Maryland shall govern all issues concerning the relative rights of the Company and its stockholders. All other questions concerning the construction, validity, enforcement and interpretation of this Warrant
shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. The Company and the Holder hereby irrevocably submit to the exclusive
jurisdiction of the state and federal courts sitting in the City of New York, borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby
irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, or that such suit, action or proceeding is improper. Each of the Company and the
Holder hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or 

  
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proceeding by receiving a copy thereof sent to the Company at the address in effect for notices to it under this instrument and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. 
 (d)                                 
 The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or affect any of the provisions hereof. 
 (e)                                 
 In case any one or more of the provisions of this Warrant shall be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired
thereby and the parties will attempt in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Warrant.

 REMAINDER OF PAGE INTENTIONALLY LEFT BLANK, 
 SIGNATURE PAGE FOLLOWS 

  
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 IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed
by its authorized officer as of the date first indicated above. 
  

			
	SONIC FOUNDRY, INC.
		
	By:	 	  

			
		
	Name:	 	  

			
		
	Title:	 	  

 FORM OF ELECTION TO PURCHASE 

(To be executed by the Holder to exercise the right to purchase shares of Common Stock under the foregoing Warrant) 

To Sonic Foundry, Inc.: 
 In accordance with the Warrant enclosed with this Form of Election to Purchase, the undersigned hereby irrevocably elects to purchase
                     shares of common stock, $.01 par value per share, of Sonic Foundry, Inc. (the “Common Stock”) and encloses
herewith $                 in cash, certified or official bank check or checks, which sum represents the aggregate Exercise Price (as defined in the Warrant) for
the number of shares of Common Stock to which this Form of Election to Purchase relates, together with any applicable taxes payable by the undersigned pursuant to the Warrant. 

The undersigned requests that certificates for the shares of Common Stock issuable upon this exercise be issued in the
name of 
  

					
		  		  	PLEASE INSERT SOCIAL SECURITY
	 OR
	  		  	
		  		  	TAX IDENTIFICATION NUMBER
		  		  	                             
               

 (Please print name
and address) 
 If the number of shares of Common Stock issuable upon this exercise shall not be all of the
shares of Common Stock which the undersigned is entitled to purchase in accordance with the enclosed Warrant, the undersigned requests that a New Warrant (as defined in the Warrant) evidencing the right to purchase the shares of Common Stock not
issuable pursuant to the exercise evidenced hereby be issued in the name of and delivered to: 
  

	
	  

 (Please print name and address) 

	
	
	  

	
	  

  

					
	
Dated:            ,     
	  	Name of Holder:	  	

  

	
	
(Print)                       
                            

	
	
(By:)                       
                              

	
	
(Name:)                       
                         

	
	
(Title:)                      
                             

	 (Signature must conform in all respects to name of holder as specified on the face of the Warrant)

 FORM OF ASSIGNMENT 
 [To be completed and signed only upon transfer of Warrant] 
 FOR VALUE RECEIVED,
the undersigned hereby sells, assigns and transfers unto the right represented by the within Warrant to purchase shares of Common Stock of Sonic Foundry, Inc. to which the within Warrant relates and appoints attorney to transfer said right on the
books of Sonic Foundry, Inc. with full power of substitution in the premises. 
 Dated: 

                      
           
  

			
	  
	 	
	 (Signature must conform in all respects to name of holder

as specified on the face of the Warrant)

		
	  
	 	
	Address of Transferee	 	
		
	  
	 	
		
	  
	 	

 In the presence of:Fourth Amendment to Loan Agreement, dated as of December 23, 2010

 Exhibit 10.1 
 FOURTH AMENDMENT TO 
 LOAN AGREEMENT 

By and Among 

MANUFACTURERS AND TRADERS TRUST COMPANY, 
 As Administrative Agent and Letter of Credit Issuer, 
 THE LENDERS PARTY
HERETO 
 and 
 COMPUTER TASK GROUP, INCORPORATED 
 As of December 23, 2010 

 FOURTH AMENDMENT TO 

LOAN AGREEMENT 
 THIS FOURTH AMENDMENT TO LOAN AGREEMENT (“Fourth Amendment”) is made as of the 23rd day of December, 2010, by and among COMPUTER TASK GROUP, INCORPORATED, a New York
corporation (“Borrower”), the LENDERS party hereto (the “Lenders”), and MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking corporation, having an office and place of business at
One Fountain Plaza, Buffalo, New York 14203, as issuer of letters of credit (“Bank”) and as agent for the Lenders and Bank (in such capacity, together with its successors in such capacity, the “Administrative
Agent”). 
 W I T N E S S E T H: 
 WHEREAS, the parties hereto are parties to a Loan Agreement dated as of April 21, 2005, as amended by First Amendment to Loan Agreement dated as of April 12, 2006, Second Amendment to
Loan Agreement dated as of March 7, 2007, and Third Amendment to Loan Agreement dated as of February 4, 2008 (the “Loan Agreement”). 
 WHEREAS, the parties hereto desire to amend the Loan Agreement on the terms and conditions hereinafter set forth. 
 NOW, THEREFORE, for due consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

1. DEFINITIONS. Capitalized terms used herein and not defined shall have the meaning given such terms in the Loan
Agreement, except to the extent that such meanings are amended hereby. 
 2. AMENDMENTS.  

(a) Section 1 of the Loan Agreement is hereby amended by (i) adding the following definitions in alphabetical order:

 “Fourth Amendment Date” shall mean December 23, 2010. 

(ii) amending and restating the following definitions to read in their entirety as follows: 

“Availability” shall mean, at the time of determination, (a) the Revolving Credit Facility, minus
(b) the outstanding principal balance under the Revolving Credit Notes, minus (c) the L/C Amount. 
 “Loan
Documents” shall mean this Agreement, the Revolving Credit Notes, the Subsidiary Guaranties, any Interest Rate Protection Agreement with Administrative Agent, Lender, or any Affiliate of any of them with respect to any Revolving Credit
Loan(s), any L/C Application, any Letter of Credit, any Authorizations to File Financing Statements, Perfection Certificates and the Borrower certifications delivered by the Borrower to Administrative Agent on or about the date hereof and from time
to time hereafter, and all other agreements and instruments extending, renewing, refinancing, refunding or reaffirming any Indebtedness, obligation or liability arising under any of the foregoing, in each case as the same may be amended, modified or
supplemented from time to time hereafter in accordance with their respective terms. 

 “Material Adverse Effect” shall mean: (a) a material adverse
effect on the business, operations, results of operations, prospects, assets, liabilities or financial condition of the Loan Parties, taken as a whole, (b) a material adverse effect on the ability of any Loan Party to perform or comply with any
of the terms and conditions of any Loan Document to which it is a party or by which it or its assets are bound or on the ability of Borrower to cause any Subsidiary to comply with the covenants applicable to such Subsidiary and contained in any Loan
Document, or (c) a material adverse effect on (i) the legality, validity, binding effect, enforceability or admissibility into evidence of any Loan Document, or (ii) the ability of the Administrative Agent to enforce any right, or
remedy under or in connection with any Loan Document. 
 “Revolving Credit Loan Maturity Date” shall
mean April 21, 2014. 
 and (iii) deleting the definitions of the following terms: Availability Block Amount, Borrowing Base,
Collateral, Eligible Accounts, Eligible Billed Accounts, Eligible Unbilled Accounts, Eligible Unbilled ISTG Accounts, IBM STG, IBM STG Contract, IBM STG Indebtedness, IBM STG Receivables, Pledge Agreement, Pledge Agreements, Security Agreements and
Security Documents. The Loan Agreement is further amended by deleting all references therein to the terms Collateral, Pledge Agreements, Security Agreements and Security Documents and all obligations relating to the Collateral, Pledge Agreements,
Security Agreements and the Security Documents but only to the extent relating thereto, including, without limitation, those specifically referenced below. For example, all obligations regarding Loan Documents shall remain unaffected by the Fourth
Amendment except to the extent they specifically relate to any Security Document(s). 
 (b) Subsection (c) of
Section 2.1 of the Loan Agreement is hereby amended and restated to read in its entirety as follows: 
 (c) Treatment
of Overadvances. If at any time the Administrative Agent determines that the total principal sum outstanding under the Revolving Credit Notes plus the L/C Amount exceeds the Revolving Credit Facility, then, immediately upon demand therefor
by the Administrative Agent, Borrower shall make payments to the Administrative Agent, for the accounts of the applicable Lenders, in an amount sufficient to reduce the sum of the L/C Amount and the principal amount outstanding under the Revolving
Credit Notes to the Revolving Credit Facility. 
 (c) The last sentence of Section 2.12 of the Loan Agreement is hereby
amended and restated to read in its entirety as follows: 
 “Each prepayment under this Section 2.12(b) shall be a
permanent reduction of the Revolving Credit Commitments and the Borrower shall be responsible for the payment of such amounts as provided in Section 2.13(d) with respect to the prepayment of any LIBOR Loan prepaid on any date other than the
last day of the corresponding Interest Period.” 
 (d) Section 3.1 of the Loan Agreement is hereby amended and
restated to read in its entirety as follows: 

  
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 3.1 Security for Loans. Except as set forth in the provisions hereof
relating to the Special Account, the Obligations of Borrower under this Agreement and the Loan Documents shall be unsecured. In the event that Borrower enters into any Interest Rate Protection Agreement with Administrative Agent, any Lender, or any
Affiliate of any of them with respect to the Revolving Credit Loans or any portion thereof, Borrower’s obligations under each such Interest Rate Protection Agreement shall be pari passu with the Borrower’s Loan obligations under this Loan
Agreement. 
 (e) Section 4.2 of the Loan Agreement is hereby amended by deleting therefrom the following: “, and to
grant the security interests granted under,” and “and security interests.” 
 (f) Section 4.9 of the Loan
Agreement is hereby amended and restated to read in its entirety as follows: 
 4.9 Existing Indebtedness. No Loan
Party has any Indebtedness except Indebtedness created by or permitted under the Loan Documents. All Indebtedness of the Loan Parties on the Fourth Amendment Date is listed on Schedule 4.9 hereto. 

(g) Section 4.12 of the Loan Agreement is hereby amended to delete the words “As of the date of this Loan Agreement,” and
to insert, in lieu thereof, the words “As of the Fourth Amendment Date,”. 
 (h) Section 4.13 of the Loan
Agreement is hereby amended to delete the words “as of the date of this Agreement,” and to insert, in lieu thereof, the words “as of the Fourth Amendment Date,”. 

(i) Section 4.17 of the Loan Agreement is hereby amended and restated to read in its entirety as follows: 

4.17 Title to Property. Each Loan Party has good title to all property of whatever nature owned or purported to be owned by
it (except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes), in each case free and clear of all Liens, other than Permitted
Liens. 
 (j) Section 4.24 of the Loan Agreement is hereby amended to delete the words “as of the date of this Loan
Agreement,” and to insert, in lieu thereof, the words “as of the Fourth Amendment Date,”. 
 (k)
Section 4.26 of the Loan Agreement is hereby amended and restated to read in its entirety as follows: 
 4.26
Financial Information. The Borrower has delivered to the Administrative Agent consolidated balance sheets, statements of operations, shareholders’ equity and cash flows of the Borrower for its fiscal years ending December 31,
2009 and December 31, 2008, audited by KPMG LLP, certified public accountants. Such financial statements fairly present the consolidated results of operations and financial condition of the Borrower for the periods indicated. The most recent
financial statements of Borrower furnished to Administrative Agent pursuant to Section 6.2 hereof fairly present the consolidated results of operations and financial condition of the Borrower for the periods indicated, subject, in the case of
financial statements which are not annual financial statements, to normal and recurring year-end audit adjustments. 
 (l)
Subsection (c) of Section 5.2 of the Loan Agreement is hereby amended and restated to read in its entirety as follows: 

  
 - 3 -

 (c) No Excess Borrowing. At the time of, and immediately following such
advance, the total principal sum outstanding under the Revolving Credit Notes plus the L/C Amount does not exceed the Revolving Credit Facility. 
 (m) Section 6.2(c) of the Loan Agreement is hereby amended and restated to read in its entirety as follows: “(c) Intentionally Omitted.” 

(n) Subsection (a) of Section 6.7 of the Loan Agreement is hereby amended and restated to read in its entirety as follows:

 (a) Maximum Leverage Ratio. The Borrower will maintain, as of the end of each fiscal quarter, its ratio of
(i) total Funded Indebtedness outstanding at the end of such fiscal quarter to (ii) EBITDA for the four (4) fiscal quarters ending on such date taken as one accounting period (“Leverage Ratio”), at not more
than 2.75 to 1.0. 
 (o) Subsection (b) of Section 6.7 of the Loan Agreement is hereby amended to change the number
“$24,500,000” therein to “$37,500,000.” 
 (p) Section 6.11 of the Loan Agreement is hereby amended and
restated to read in its entirety as follows: 
 6.11 Further Assurances. Borrower shall, and shall cause
each Subsidiary to, cooperate with the Administrative Agent and execute and deliver such further agreements, instruments and documents and take such other action as Administrative Agent may reasonably request in order to carry out the intent of this
Agreement, and such agreements, instruments and documents to be in form reasonably satisfactory to the Administrative Agent. Borrower will pay for the filing of all documents which Administrative Agent, or the Required Lenders, acting through the
Administrative Agent, may request in connection with this Agreement. 
 (q) Section 7.1(a) of the Loan Agreement is hereby
amended and restated to read in its entirety as follows: “(a) Intentionally Omitted.” 
 (r) Section 7.1(e) of
the Loan Agreement is hereby amended to delete the words “on the Closing Date” and to insert, in lieu thereof, the words “on the Fourth Amendment Date.” 
 (s) Section 7.2(i) of the Loan Agreement is hereby amended and restated to read in its entirety as follows: “(i) Indebtedness existing on the Fourth Amendment Date which is set forth on
Schedule 7.2(i) annexed hereto.” 
 (t) Clause (y) in Section 7.3 of the Loan Agreement is hereby amended by
deleting the following language: 
 “(y) the aggregate value of the assets so disposed of by all Loan Parties shall
not exceed $1,000,000 from the Closing Date through the Revolving Credit Loan Maturity Date and” 
 and inserting the following language in
lieu thereof: 
 “(y) the aggregate value of the assets so disposed of by all Loan Parties shall not exceed $1,000,000
from the Fourth Amendment Date through the Revolving Credit Loan Maturity Date and” 

  
 - 4 -

 (u) Section 7.9(d)(ii) of the Loan Agreement is hereby amended to change the number
“4,200,000” therein to “5,700,000.” 
 (v) Section 7.11 of the Loan Agreement is hereby amended and
restated to read in its entirety as follows: 
 7.11 Fundamental Changes. Borrower shall not, and shall not permit
any Subsidiary to, change its name, corporate, limited partnership or limited liability company form, as the case may be, or jurisdiction of incorporation, formation or organization without the prior written consent of the Administrative Agent,
which consent will not be unreasonably withheld. 
 (w) Section 7.12 of the Loan Agreement is hereby amended to delete the
words “as of the date of this Agreement,” and to insert, in lieu thereof, the words “as of the Fourth Amendment Date,” 
 (x) Subsection (b) of Section 7.13 of the Loan Agreement is hereby amended and restated to read in its entirety as follows: 

(b) Borrower shall not make or permit any Subsidiary to make any Acquisition; provided, however, that so long as no Event of
Default or Potential Default shall have occurred and be continuing and no Event of Default or Potential Default shall be caused thereby and the Borrower has given the Administrative Agent not less than 10 Banking Days’ prior written notice of
such proposed Acquisition, the Borrower may make or permit any Subsidiary to make Acquisitions, provided that (i) the aggregate purchase price paid by the Borrower for all such Acquisitions under Section 7.13(a)(exclusive of
Acquisitions described in the proviso therein) and Section 7.13(b) shall not exceed $10,000,000 in any fiscal year of Borrower or $25,000,000 cumulatively from the Closing Date; (ii) the business or assets so acquired are owned by an
entity organized under the laws of a jurisdiction within the United States and are located in the United States, (iii) in the case of an Acquisition structured as a stock purchase, the issuer of the stock to be purchased is organized under the
laws of a jurisdiction within the United States, (iv) the Borrower shall have demonstrated to the Administrative Agent that the principal amount to be outstanding on the Revolving Credit Notes at the time of, and immediately following such
Acquisition, does not exceed pro forma Availability after giving effect to such Acquisition, and (v) the Borrower shall have demonstrated to the Administrative Agent pro forma compliance with Section 6.7 hereof after giving
effect to such Acquisition. 
 (y) Section 7.15 of the Loan Agreement is hereby amended and restated to read in its
entirety as follows: 
 7.15 Governing Documents. The Borrower will not, and will not permit any Subsidiary to,
amend its respective Governing Documents in such a manner so as to (a) cause a Material Adverse Effect, (b) remove or diminish the Administrative Agent’s, any Lender’s or the Bank’s rights under this Agreement or any Loan
Document or (c) substantially impair the ability of the Administrative Agent to monitor and manage the Obligations, collect payments, fees, and expenses, or otherwise take action under this Agreement or any Loan Document. 

(z) Section 8.9 of the Loan Agreement is hereby amended and restated to read in its entirety as follows: “8.9 Intentionally
Omitted.” 
 (aa) Exhibit A to the Loan Agreement is hereby amended and restated to read in its entirety as Exhibit A
attached hereto. 
 (bb) Exhibit B to the Loan Agreement is hereby amended and restated to read in its entirety as Exhibit B
attached hereto. 

  
 - 5 -

 (cc) Exhibit C to the Loan Agreement is hereby amended and restated to read in its entirety
as follows: “Intentionally Omitted.” 
 (dd) Exhibit D to the Loan Agreement is hereby amended and restated to read in
its entirety as Exhibit D attached hereto. 
 (ee) Exhibit E to the Loan Agreement is hereby amended to add “, as
amended” at the end of Section 5 thereof. 
 (ff) Schedules 4.7, 4.9, 4.12, 4.14, 4.18, 4.19, 4.24, 7.1 and 7.2(i) to
the Loan Agreement are replaced, respectively, by the Schedules bearing the same numbers attached hereto. 
 3.
REPRESENTATIONS AND WARRANTIES. Borrower makes the following representations and warranties which shall be deemed to be continuing representations and warranties so long as any Obligations, other than Continuing Obligations, remain
unpaid: 
 3.1 Authorization. Borrower has the power and authority to borrow under the Loan Agreement, as amended by this
Fourth Amendment, and to execute, deliver and perform this Fourth Amendment and any documents delivered in connection with it, all of which have been duly authorized by all proper and necessary corporate action. 

3.2 Binding Effect. This Fourth Amendment has been duly executed and delivered by Borrower and the Loan Agreement, as amended by
this Fourth Amendment, constitutes the legal, valid and binding obligation of Borrower, enforceable in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or other similar laws of general
application affecting the enforcement of creditors’ rights. 
 3.3 Consents; Governmental Approvals. No Governmental
Action is or will be necessary in connection with the execution or delivery of this Fourth Amendment or any other document executed and delivered by Borrower herewith, the consummation by Borrower of the transactions herein contemplated or the
performance of or compliance by the Borrower with the terms and conditions hereof or thereof. 
 3.4 Representations and
Warranties. Except as disclosed to the Administrative Agent in writing, the representations and warranties contained in the Loan Agreement, as amended by this Fourth Amendment, are true on and as of the date hereof with the same force and effect
as if made on and as of the date hereof. 
 3.5 Absence of Conflicts. Neither the execution and delivery of this Fourth
Amendment by Borrower or any other document executed and delivered by Borrower herewith, nor the consummation by Borrower of the transactions herein or therein contemplated, nor performance of or compliance by the Borrower with the terms and
conditions hereof or thereof, as the case may be, does or will 
 (a) violate or conflict with any Requirement of Law, or

  
 - 6 -

 (b) violate, conflict with or result in a breach of any term or condition of, or constitute
a default under, or result in (or give rise to any right, contingent or otherwise, of any Person to cause) any termination, cancellation, prepayment or acceleration of performance of, or result in the creation or imposition of (or give rise to any
obligation, contingent or otherwise, to create or impose) any Lien upon the assets of any Loan Party pursuant to, or otherwise result in (or give rise to any right, contingent or otherwise, of any Person to cause) any change in any right, power,
privilege, duty or obligation of any Loan Party under or in connection with, 
 (i) the Governing Documents of
any Loan Party or any general partner or managing member of any Loan Party, if applicable, 
 (ii) any
contractual obligations creating, evidencing or securing any Indebtedness to which any Loan Party is a party or by which it or any of its properties (now owned or hereafter acquired) may be subject or bound, or 

(iii) any other contractual obligation of any Loan Party, where the violation, conflict, breach or default, or result, is,
has or would be reasonably likely to be or have a Material Adverse Effect, or 
 (c) require the consent of, or notice to, any
Person pursuant to any of the items referenced in clauses (i), (ii) or (iii) of Section 3.5(b) above, which consent has not been obtained or which notice has not been given. 

3.6 No Events of Default. No Event of Default and no Potential Default has occurred or is continuing, except for any Event of
Default that has been waived by the Administrative Agent, the Bank and the Required Lenders in writing. 
 3.7 No Material
Misstatements. Neither this Fourth Amendment nor any document delivered to Administrative Agent by or on behalf of Borrower to induce Administrative Agent, Bank and the Lenders to enter into this Fourth Amendment contains any untrue statement of
a material fact or omits to state a material fact necessary to make the statements herein or therein not misleading in light of the circumstances in which they were made. 
 4. CONDITIONS OF AMENDMENT. The Administrative Agent shall have no obligation to execute or deliver this Fourth Amendment until each of the following conditions shall have been satisfied:

 4.1 Borrower, Lenders and Bank shall have executed this Fourth Amendment. 

4.2 Borrower shall have taken all appropriate corporate action to authorize, and its directors and/or stockholders, if required by its
Governing Documents, shall have adopted resolutions authorizing the execution, delivery and performance of this Fourth Amendment and the taking of all other action contemplated by this Fourth Amendment, and the Administrative Agent shall have been
furnished with copies of all such corporate action, certified by an Authorized Representative of Borrower as being true and correct and in full force and effect without amendment on the date hereof, and such other corporate documents as
Administrative Agent may request. 

  
 - 7 -

 4.3 Borrower shall have delivered to Administrative Agent any and all consents necessary to
permit the transactions contemplated by this Fourth Amendment. 
 4.4 Borrower shall have paid to the Administrative Agent, for
distribution to the Lenders in accordance with their Pro Rata Shares, a fee in connection with this Fourth Amendment in an amount equal to $95,000. 
 4.5 Borrower shall have paid the fees and disbursements of Administrative Agent’s counsel and all recording fees, search fees, charges and taxes in connection with this Fourth Amendment and all
transactions contemplated hereby. 
 4.6 Borrower shall have delivered to Administrative Agent such additional documentation,
consents, authorizations, insurance certificates, opinions of counsel and other instruments and agreements as Administrative Agent or its counsel may reasonably require. All such documentation, instruments and other legal matters in connection with
this Fourth Amendment and the other Loan Documents shall be satisfactory in form and substance to the Administrative Agent and its counsel. 
 5. MISCELLANEOUS. 
 5.1 Effect on Loan Documents. The
Borrower hereby ratifies and confirms the terms of the Loan Agreement and the other Loan Documents and agrees that, except as specifically amended hereby, the Loan Agreement and the other Loan Documents remain in full force and effect. Nothing
contained herein shall constitute a waiver of any provision of the Loan Documents, except such waivers as are expressly set forth herein. The parties hereto specifically acknowledge that, effective as of the date hereof (i) the Security and
Negative Pledge Agreement dated as of April 21, 2005 given by Borrower to Administrative Agent granting a lien on assets of the Borrower to secure the Obligations, (ii) the Pledge Agreement dated as of April 21, 2005 given by Borrower
to Administrative Agent granting a lien on Borrower’s interests in certain of its domestic subsidiaries to secure the Obligations and (iii) the Pledge Agreement dated as of April 21, 2005 given by Borrower, Computer Task Group
International, Inc. and Computer Task Group Europe, B.V. to Administrative Agent granting a lien on certain of the Borrower’s interests in certain of its foreign subsidiaries to secure the Obligations, are terminated. It is the intention of the
parties hereto that, unless and until they otherwise agree in writing, the Administrative Agent, for itself or for the benefit of the Lenders or the Bank, shall have no security interest in the Collateral, as such term was defined in the Loan
Agreement prior to giving effect to this Fourth Amendment. In furtherance of the foregoing, each of the parties hereto agrees to execute and deliver, at Borrower’s expense, such documents as may reasonably be required to release, discharge and
terminate each security interest, pledge, mortgage and assignment existing in favor of the Administrative Agent, for its benefit and the benefit of the Lenders and the Bank, with respect to any of the Collateral, as such term was defined in the Loan
Agreement prior to giving effect to this Fourth Amendment, provided, however, that any Lien in favor of the Agent, Bank or any Lender pursuant to any document governing any bank account of any Loan Party or relating to future cash collateral for any
letter of credit, shall not be discharged or terminated by or pursuant to this Fourth Amendment. 

  
 - 8 -

 5.2 Entire Agreement; Binding Effect. The Loan Agreement, as amended by this Fourth
Amendment, represents the entire understanding and agreement between the parties hereto with respect to the subject matter hereof. This Fourth Amendment supersedes all prior negotiations and any course of dealing between the parties with respect to
the subject matter hereof. This Fourth Amendment shall be binding upon Borrower and its successors and assigns, and shall inure to the benefit of, and be enforceable by Administrative Agent, Bank, Lenders and their respective successors and assigns.

 5.3 Severability. If any provision of this Fourth Amendment shall be determined by a court to be invalid, such
provision shall be deemed modified to conform to the minimum requirements of applicable law. 
 5.4 Headings. The section
headings inserted in this Fourth Amendment are provided for convenience of reference only and shall not be used in the construction or interpretation of this Fourth Amendment. 
 5.5 Counterparts. This Fourth Amendment may be executed in counterparts, each of which shall constitute an original but all of which when taken together shall constitute one and the same agreement.

 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
 - 9 -

 IN WITNESS WHEREOF, the parties hereto have caused this Fourth Amendment to be signed
by their duly authorized officers as of the day and year first above written. 
  

			
	 COMPUTER TASK GROUP,
 INCORPORATED

		
	By:	 	 /s/ Brendan M. Harrington

	Name:	 	Brendan M. Harrington
	Title:	 	Chief Financial Officer

  

			
	 MANUFACTURERS AND TRADERS TRUST
 COMPANY, as Administrative Agent, Bank and
 as a Lender

		
	By:	 	 /s/ Andrew M. Constantino

		 	Andrew M. Constantino
		 	Vice President

  

			
	 KEYBANK NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	 /s/ Mark F. Wachowiak

	Name:	 	Mark F. Wachowiak
	Title:	 	Vice President

 EXHIBIT A 
 FORM OF REVOLVING CREDIT NOTE 
 AMENDED AND RESTATED REVOLVING CREDIT
NOTE 
  

					
	 $23,000,000.00
	 	Buffalo, New York	 	

 April 21, 2005 
 Amended and Restated as of 
 December     , 2010

 FOR VALUE RECEIVED, the undersigned, COMPUTER TASK GROUP, INCORPORATED (“Borrower”), a New York corporation with
its chief executive office at 800 Delaware Avenue, Buffalo, New York 14209, promises to pay to the order of Manufacturers and Traders Trust Company, a New York banking corporation (the “Lender”), on or before the Revolving Credit Loan
Maturity Date, and at such earlier dates as may be required by the Agreement (as defined below), the principal sum of Twenty-Three Million and 00/100 Dollars ($23,000,000.00) or the outstanding principal amount of this Note, if less. The Borrower
further promises to pay to the order of the Lender interest on the unpaid principal amount hereof from time to time outstanding at the rate or rates per annum determined pursuant to the Agreement, payable on the dates set forth in the Agreement,
together with fees, costs and expenses as set forth in the Agreement. 
 This Note is one of the Revolving Credit Notes referred
to in, is due and payable as provided in, is subject to the terms and conditions set forth in, and is entitled to the benefits of, the Loan Agreement dated as of April 21, 2005, by and between Borrower, the Bank and Lenders, as defined therein,
and Manufacturers and Traders Trust Company, as Administrative Agent (as the same may be amended, modified or supplemented from time to time, the “Agreement”), which among other things provides for the acceleration of the maturity hereof
upon the occurrence of certain events and for prepayments in certain circumstances and upon certain conditions. Terms defined in the Agreement and capitalized herein have the same meanings herein as in the Agreement. 

 This Note may be prepaid in whole or in part at any time in accordance with the terms and
provisions of the Agreement. 
 This Note is issued by Borrower to Lender in connection with the Revolving Credit Loan. Lender
may make any advance of the Revolving Credit Loan in reliance upon any oral (including, but not limited to, telephonic), written (including, but not limited to teletransmitted) or other request made by the Administrative Agent. Lender shall incur no
liability to Borrower or any other person as a direct or indirect result of making any advance in accordance with this paragraph and the request of the Administrative Agent. 
 The Borrower hereby expressly waives presentment, demand, notice, protest and all other demands and notices, unless notice is specifically provided for in the Agreement, in connection with the delivery,
acceptance, performance, default or enforcement of this Note and the Agreement, and an action for amounts due hereunder or thereunder shall immediately accrue. 
 Borrower agrees that a copy of this Note kept in Lender’s course of business may be admitted into evidence as an original. 
 This Note shall be governed by, and construed and enforced in accordance with, the laws of the State of New York, without regard to principles of choice of law. 

This Note evidences the obligations evidenced by, and amends, restates, and replaces in its entirety, the Revolving Credit Note made by
the Borrower in favor of the Lender, dated April 21, 2005, in the maximum principal sum of $23,000,000.00, as amended, restated, replaced and/or extended from time to time. 

 

			
	COMPUTER TASK GROUP, INCORPORATED
		
	By:	 	  

	Name:	 	Peter P. Radetich
	Title:	 	Senior Vice President
	
	Address for Notices:

			
	 800 Delaware Avenue

Buffalo, New York 14209
 Attention: Peter P.
Radetich
 Senior Vice President & General Counsel
  

Telephone: 716-887-7366
 Telecopier:
716-887-7370

 AMENDED AND RESTATED REVOLVING CREDIT NOTE 

 

					
	 $12,000,000.00
	 	Buffalo, New York	 	

 April 21, 2005 
 Amended and Restated as of 
 December     , 2010

 FOR VALUE RECEIVED, the undersigned, COMPUTER TASK GROUP, INCORPORATED (“Borrower”), a New York corporation with
its chief executive office at 800 Delaware Avenue, Buffalo, New York 14209, promises to pay to the order of KeyBank National Association (the “Lender”), on or before the Revolving Credit Loan Maturity Date, and at such earlier dates
as may be required by the Agreement (as defined below), the principal sum of Twelve Million and 00/100 Dollars ($12,000,000.00) or the outstanding principal amount of this Note, if less. The Borrower further promises to pay to the order of the
Lender interest on the unpaid principal amount hereof from time to time outstanding at the rate or rates per annum determined pursuant to the Agreement, payable on the dates set forth in the Agreement, together with fees, costs and expenses as set
forth in the Agreement. 
 This Note is one of the Revolving Credit Notes referred to in, is due and payable as provided in, is
subject to the terms and conditions set forth in, and is entitled to the benefits of, the Loan Agreement dated as of April 21, 2005, by and between Borrower, the Bank and Lenders, as defined therein, and Manufacturers and Traders Trust Company,
as Administrative Agent (as the same may be amended, modified or supplemented from time to time, the “Agreement”), which among other things provides for the acceleration of the maturity hereof upon the occurrence of certain events and for
prepayments in certain circumstances and upon certain conditions. Terms defined in the Agreement and capitalized herein have the same meanings herein as in the Agreement. 
 This Note may be prepaid in whole or in part at any time in accordance with the terms and provisions of the Agreement. 
 This Note is issued by Borrower to Lender in connection with the Revolving Credit Loan. Lender may make any advance of the Revolving Credit Loan in reliance upon any oral (including, but not limited to,
telephonic), written (including, but not limited to 

 
teletransmitted) or other request made by the Administrative Agent. Lender shall incur no liability to Borrower or any other person as a direct or indirect result of making any advance in
accordance with this paragraph and the request of the Administrative Agent. 
 The Borrower hereby expressly waives presentment,
demand, notice, protest and all other demands and notices, unless notice is specifically provided for in the Agreement, in connection with the delivery, acceptance, performance, default or enforcement of this Note and the Agreement, and an action
for amounts due hereunder or thereunder shall immediately accrue. 
 Borrower agrees that a copy of this Note kept in
Lender’s course of business may be admitted into evidence as an original. 
 This Note shall be governed by, and construed
and enforced in accordance with, the laws of the State of New York, without regard to principles of choice of law. 
 This Note
evidences the obligations evidenced by, and amends, restates, and replaces in its entirety, the Revolving Credit Note made by the Borrower in favor of the Lender, dated April 21, 2005, in the maximum principal sum of $12,000,000.00, as amended,
restated, replaced and/or extended from time to time. 
  

			
	COMPUTER TASK GROUP, INCORPORATED
		
	By:	 	  

	Name:	 	Peter P. Radetich
	Title:	 	Senior Vice President
	
	 Address for Notices:

800 Delaware Avenue
 Buffalo, New York
14209
 Attention: Peter P. Radetich

Senior Vice President & General Counsel
  

Telephone: 716-887-7366

			
	 Telecopier: 716-887-7370

 EXHIBIT B 
 REVOLVING CREDIT LOAN PRICING GRID 
 The Commitment Fee Rate, and the
Applicable Margin to be added to either the Adjusted Base Rate or the LIBOR Rate with respect to the Revolving Credit Loans, shall be determined by the corresponding Actual Leverage Ratio, defined in the Loan Agreement, computed as of the end of
each fiscal quarter, which Applicable Margin shall be determined using the table below and applied to the Pricing Period next commencing: 
  

															
	 Level
	  	 Actual Leverage Ratio
	  	Adjusted
Base
Rate
Applicable
Margin
(in Basis
Points)	 	  	LIBOR Rate
Applicable
Margin
(in Basis Points)	 	  	Commitment
Fee
Rate
(in Basis Points)	 
	 I
	  	Less than 1.50 to 1.00	  	 	0	  	  	 	175	  	  	 	25.0	  
	 II
	  	Greater than or equal to 1.50 to 1.00 and less than 2.00 to 1.00	  	 	25	  	  	 	200	  	  	 	30.0	  
	 III
	  	Greater than or equal to 2.00 to 1.00	  	 	50	  	  	 	225	  	  	 	30.0	  

 EXHIBIT D 
 FORM OF COMPLIANCE CERTIFICATE 
 COMPLIANCE CERTIFICATE 

[Date] 
 Manufacturers and
Traders Trust Company, 
 as Administrative Agent 
 One Fountain Plaza 
 Buffalo, New York 14203 

Ladies and Gentlemen: 
 The undersigned
certifies that the following computations required by the affirmative covenants set forth in Section 6.7 of the Loan Agreement, as the same may be amended, modified or supplemented from time to time in accordance with its terms (the
“Loan Agreement”) dated as of April 21, 2005 among Computer Task Group, Incorporated, a New York corporation (“Borrower”), the Lenders party thereto from time to time (the “Lenders”), and
Manufacturers and Traders Trust Company, a New York banking corporation, having an office and place of business at One Fountain Plaza, Buffalo, New York 14203, as issuer of letters of credit (in such capacity, “Bank”) and as agent
for the Lenders and Bank (in such capacity, together with its successors in such capacity, the “Administrative Agent”) are true and correct as of              and
that the Borrower is in compliance with such covenants. Capitalized terms used in this certificate and not defined herein shall have the meanings given such terms in the Loan Agreement. 

Section 6.7(a) Maximum Leverage Ratio 
 (A) As of the end of its fiscal quarter ending             , 20     (the “FQE Date”) the Borrower had total
Funded Indebtedness outstanding, of              

 (B) For the four (4) fiscal quarters ending on the FQE Date taken as one accounting period, the
Borrower had EBITDA of              
 Ratio of A to B
                     

Covenant: The Borrower will maintain, as of the end of each fiscal quarter, its ratio of (i) total Funded Indebtedness
outstanding at the end of such fiscal quarter to (ii) EBITDA for the four (4) fiscal quarters ending on such date taken as one accounting period (“Leverage Ratio”), at not more than 2.75 to 1.0. 

Section 6.7(b) Minimum Tangible Net Worth 
 As of the FQE Date, the Borrower had a Tangible Net Worth of             . 

Covenant: So long as this Agreement is in effect, at all times the Tangible Net Worth of Borrower shall be at least
$37,500,000 (the “Minimum TNW Amount”). The Minimum TNW Amount shall, as of the last day of each fiscal year of Borrower, (i) be increased by 50% of Borrower’s net profits for such fiscal year and (ii) be
adjusted to add to shareholders’ equity any negative change in Borrower’s foreign currency adjustment and to subtract therefrom any positive change in Borrower’s foreign currency adjustment, in each case during such fiscal year. The
Minimum TNW Amount, as adjusted in accordance with the preceding sentence, shall become the Minimum TNW Amount under this Section 6.7(b) for the fiscal year commencing the day after such adjustment and shall again be adjusted on the last day of
such fiscal year as set forth herein. 
 Section 6.7(c) Capital Expenditures 

For its fiscal year ending             , 20     the
Borrower incurred and contracted to incur capital expenditures of              [TO BE COMPLETED ONLY IF THE FQE DATE FOR PURPOSES OF THIS CERTIFICATE IS ALSO THE END OF
BORROWER’S FISCAL YEAR] 

 Covenant: The Borrower will not incur or contract to incur capital expenditures of more than
$5,000,000 in the aggregate during any fiscal year. 

 Section 2.3 Applicable Margin 

The Actual Leverage Ratio as of the FQE Date is             .

 Accordingly, the Commitment Fee Rate, and the Applicable Margin to be added to either the Adjusted Base Rate or the LIBOR
Rate with respect to the Revolving Credit Loans, for the Pricing Period next commencing, shall be as set forth in Exhibit B to the Loan Agreement. 
 The undersigned further certifies that (i) [no Event of Default or Potential Default has occurred and is continuing] OR [except as otherwise described in Schedule     
attached to this Certificate, no Event of Default or Potential Default has occurred and is continuing [if a Default or Event of Default has occurred and is continuing, include a statement as to the nature thereof and the action which is proposed to
be taken with respect thereto]; (ii) except as may be specified in clause (i) above, Borrower is in compliance with each of the covenants herein and in the Loan Documents; and (iii) except as may be specified in clause (i) above,
the representations and warranties made by Borrower in Section 4 of this Agreement, and in the Loan Documents, are true on and as of the date hereof with the same force and effect as if made on and as of such date (or, if any such
representation or warranty is expressly stated to have been made as of a specific date, as of such specific date). 
  

			
	COMPUTER TASK GROUP, INCORPORATED
		
	By:	 	  

		 	        Name:
		 	        Title:
		 	        [Authorized Representative]

 SCHEDULE 4.7 
 Absence of Undisclosed Liabilities 
 NONE 

 SCHEDULE 4.9 
 Existing Indebtedness 
  

	1.	Bank Guaranties aggregating approximately EUR 326,957 given by BNP Paribas Bank on behalf of CTG Belgium N.V. in the ordinary course of business.

  

	2.	Bank Guaranties aggregating approximately EUR 174,037 given by BNP Paribas Bank on behalf of CTG Luxembourg PSF S.A. in the ordinary course of business.

  

	3.	Obligation by CTG Belgium N.V. in favor of the landlord, Zeus Investments, to furnish the offices at Woluwelaan 140A bus 3 – 1831 Diegem with furniture with a
value at least equal to one year’s rent in order to guarantee at least one year’s rent (Legal privilege in accordance with Art. 1752 of the Belgian Civil Code). 

 

	4.	Any capital leases or purchase money financing arrangements with respect to any equipment identified in any of the Uniform Commercial Code filings set forth in
Item 1 on Schedule 7.1. 

  

	5.	Obligations of the Borrower in the amount of $2,500 a month for the remainder of the life of J. David Ehlke in connection with the judgment set forth in Item 6 on
Schedule 7.1. 

  

	6.	See attached Schedule of Intercompany Payable Amounts. 

  

	7.	Any outstanding Indebtedness to the Administrative Agent, Lenders and Bank pursuant to this Agreement, the Revolving Credit Notes, or the other Loan Documents.

 SCHEDULE 4.12 
 Partnerships, Subsidiaries, etc. 
 Domestic Subsidiaries

  

							
	 Name
	  	 Type of
 Organization
	  	 Jurisdiction of Formation
	  	 Ownership

				
	Computer Task Group International, Inc.	  	Corporation	  	Delaware	  	Wholly owned by Computer Task Group, Incorporated
				
	CTG of Buffalo, Inc.	  	Corporation	  	New York	  	Wholly owned by Computer Task Group, Incorporated

 Foreign Subsidiaries 
  

							
	 Name
	  	 Type of
 Organization
	  	 Jurisdiction of Formation
	  	 Ownership

				
	Computer Task Group Europe B.V.	  	Netherlands Corporation	  	The Netherlands	  	Wholly owned by Computer Task Group International, Inc.
				
	Computer Task Group (UK) Limited	  	English Corporation	  	UK	  	Wholly owned by Computer Task Group Europe, B.V.

  

							
	Computer Task Group Belgium N.V.	  	Belgium corporation	  	Belgium	  	 99.99% owned by Computer Task Group Europe, B.V.
  

.01% owned by Rendeck Macro-4 Software B.V.

				
	Computer Task Group Luxembourg, PSF S.A.	  	Luxembourg corporation	  	Luxembourg	  	Wholly owned by Computer Task Group, Inc.
				
	Computer Task Group of Canada Inc.	  	Ontario Corporation	  	Province of Ontario, Canada	  	Wholly owned by Computer Task Group, Incorporated
				
	Computer Task Group IT Solutions, S.A.	  	Luxembourg corporation	  	Luxembourg	  	Wholly owned by Computer Task Group Luxembourg, PSF S.A.
				
	CTG ITS, S.A.	  	Belgium corporation	  	Belgium	  	Wholly owned by Computer Task Group IT Solutions, S.A.

 Inactive Subsidiaries 
  

							
	Computer Task Group of Delaware, Inc.*	  	Corporation	  	Delaware	  	Wholly owned by Computer Task Group, Incorporated
				
	Computer Task Group of Kansas, Inc.*	  	Corporation	  	Missouri	  	Wholly owned by Computer Task Group (Holdings), Ltd.
				
	Computer Task Group (Holdings) Ltd. *	  	English Corporation	  	UK	  	Wholly owned by Computer Task Group, Incorporated
				
	Rendeck Macro-4 Software B.V.*	  	Netherlands Corporation	  	The Netherlands	  	Wholly owned by Computer Task Group Europe, B.V.

  

							
	Computer Task Group France, S.A.S.*	  	French Corporation	  	France	  	Wholly owned by Computer Task Group Europe, B.V.
				
	CTG of England, Ltd. **	  	English Corporation	  	UK	  	Wholly owned by Computer Task Group (U.K.), Ltd.

  

	*	Inactive 

	**	Inactive or dissolved 

 SCHEDULE 4.14 
 Litigation 
 NONE 

 SCHEDULE 4.18 
 Intellectual Property 
  

																											
	 Trademark
	  	 Class
	 	  	 For Use With
	  	 Filed
	 	  	 Issued
	 	  	Registration No.	 	  	Use due	 	  	Statement
Of Continued
Renew by	 
								
	CTG	  	 	35, 42	  	  	Computer Services	  	 	9/3/1981	  	  	 	2/8/1983	  	  	 	1,226,870	  	  	 	filed	  	  	 	2/8/2013	  
	CTG (logo)	  	 	35, 42	  	  	Computer Services	  	 	7/5/1994	  	  	 	9/19/1995	  	  	 	1,920,102	  	  	 	filed	  	  	 	9/19/2012	  
								
	CTG HealthCare Solutions (logo)	  	 	35	  	  	Computer Svcs for Healthcare	  	 	5/19/1999	  	  	 	6/25/2002	  	  	 	2585809	  	  	 	filed	  	  	 	6/25/2013	  
								
	OneVision	  	 	9	  	  	Computer Software in Steel Industry	  	 	5/8/1996	  	  	 	2/24/1998	  	  	 	2,138,231	  	  	 	filed	  	  	 	2/24/2017	  
	exemplar	  	 	42	  	  	Computer Services	  	 	12/29/1999	  	  	 	8/26/2002	  	  	 	2605345	  	  	 	filed	  	  	 	8/26/2013	  
	Assureware	  	 	42	  	  	Computer Services	  	 	2/22/2001	  	  	 	3/18/2003	  	  	 	2698752	  	  	 	filed	  	  	 	3/18/2014	  

  

									
	 Copyright Registration
	  	 Serial No.
	 	  	 Date of
Registration
	 
			
	 Best Practices Database (IDX)
	  	 	TX 6-007-652	  	  	 	7/21/2004	  
	 E-Business Readiness Test
	  	 	TX 5-194-892	  	  	 	4/10/2000	  
	 HIPAA Interactive Readiness Test
	  	 	TX 5-181-409	  	  	 	4/14/2000	  

 Patents 

(pending) U.S. Pat. Appln. No. 11/903,846 (METHOD OF APPRAISING A MAMMAL’S HEALTH) 
 (pending) U.S. Pat. Appln. No. 12/156,727 (METHOD OF ADJUSTING AN INSURANCE PREMIUM) 

 Foreign Trademarks: 

 

									
	 Country
	  	 Mark
	  	 Registration Date
	  	 Reg. No.
	  	 Owned by

					
	Canada	  	ctg logo	  	March 16, 1996	  	TMA455,299	  	Computer Task Group of Canada Inc.
	UK	  	ctg logo	  	December 22, 1995	  	1576994	  	Computer Task Group Europe B.V.
	UK	  	ctg logo	  	November 14, 1997	  	1576995	  	Computer Task Group Europe B.V.
	Benelux	  	ctg logo	  	June 30, 1994	  	556973	  	Computer Task Group Europe B.V.
	Benelux	  	ctg logo	  	June 30, 1994	  	557142	  	Computer Task Group Europe B.V.
	Benelux	  	ctg logo	  	June 30, 1994	  	557143	  	Computer Task Group Europe B.V.

 SCHEDULE 4.19 
 Taxes 
 The State of Ohio has made a tax claim against the Borrower for
$655,782 (as of 6/9/2010). The claim relates to sales taxes and related interest and penalties alleged to be due in connection with the Borrower’s provision of services in that state from 7/1/2004 through 6/30/2009. The Borrower has disputed
the claim by timely filing a petition for reassessment with the Commissioner and has not paid the amount claimed. 

 SCHEDULE 4.24 
 Bank Accounts 
 [Note: Original Version of Fourth Amendment contains
Account Numbers.] 
  

	1.	M&T Bank 

 One
Fountain Plaza 
 Buffalo, NY 14203 
 Attn: Andrew Constantino (716-848-7315) 
  

					
	Computer Task Group, Inc.	  	Operating Account	  	
	Computer Task Group, Inc.	  	Controlled Disbursement	  	
	Computer Task Group, Inc.	  	Payroll Disbursement	  	
	CTG Healthcare Solutions	  	Payroll Disbursement	  	

  

	3.	KeyBank 

 50 Fountain
Plaza 
 Buffalo, NY 14202 
  

					
	Computer Task Group, Inc.	  	Operating Account	  	
	CTG Healthcare Solutions	  	Controlled Disbursement	  	
	CTG of Buffalo	  	Operating Account	  	

  

	4.	HSBC Bank Canada  

 70
York Street 
 Toronto, ON M5S 1S9 
  

					
	Computer Task Group of Canada Inc.	  	Bank Account	  	

  

	5.	Barclays Bank Plc 

Basingstoke Business Centre 
 P.O. Box 6193 
 Basingstoke, Hants, RG1 3RX 

 

					
	Computer Task Group Hldgs, Ltd.	  	Bank Account	  	
	Computer Task Group (UK) Limited	  	Bank Account	  	
	Computer Task Group (UK) Limited	  	Bank Account	  	
	Computer Task Group (UK) Limited	  	Bank Account	  	

  

	6.	BNP Paribas 

Stationstraat 70 

1930 Zaventem 

Belgium 
  

					
	Computer Task Group Belgium N.V.	  	Bank Account	  	
	Computer Task Group Belgium N.V.	  	Bank Account	  	
	Computer Task Group Luxembourg PSF S.A	  	Bank Account	  	
	Computer Task Group Luxembourg PSF S.A	  	Bank Account	  	
	Computer Task Group IT Solution S.A.	  	Bank Account	  	
	CTG ITS S.A.	  	Bank Account	  	

  

	7.	KBC 

 De Kleetaan 6

 1831 Diegem 
 Belgium 
  

					
	Computer Task Group Belgium N.V.	  	Bank Account	  	

  

	8.	Dexia Bank 

 Vilvoordelaan
10 
 1930 Zaventem 
 Belgium 
  

					
	Computer Task Group Belgium N.V.	  	Bank Account	  	
	Computer Task Group Luxembourg PSF S.A.	  	Bank Account	  	

  

	9.	Rabo Bank 

Muiderstraatweg 19-21 
 1110 BB Diemen 
 Nederland 

 

					
	Computer Task Group Europe B.V.	  	Bank Account	  	
	Computer Task Group Europe B.V.	  	Bank Account	  	

  

	10.	ING Bank 

 Stationstraat
78 
 1930 Zaventem 
 Belgium 
  

					
	Computer Task Group Belgium N.V.	  	Bank Account	  	

 SCHEDULE 7.1 
 Permitted Liens 
  

	1.	Any Lien against the Borrower listed below in this Item 1 arising out of any financing or other transaction reflected by any filing listed below in this
Item 1 but limited to the Collateral specified below in this Item 1: 

  

									
	 Debtor
	  	 Secured Party
	  	 Filing Date
 and Number
	  	 Filing
 Jurisdiction
	  	 Collateral

					
	Computer Task Group, Inc.	  	Dell Financial Services, L.P.	  	10/29/01 209991	  	New York	  	Equipment leased pursuant to Master Lease Agreement #1240316 6/8/00

  

	2.	Liens granted in typical bank documentation in conjunction with the opening of the bank accounts listed on Schedule 4.24 but limited to the amounts on deposit in the
related bank account. 

  

	3.	Liens granted by CTG Belgium N.V. in connection with a pledge on the tangible and intangible personal property of CTG Belgium N.V. in favor of BNP Paribas Bank as
security for up to EUR 272,682.88 for an overdraft facility. 

  

	4.	Obligation by CTG Belgium N.V. in favor of the landlord, Zeus Investments, to furnish the offices at Woluwelaan 140A bus 3 – 1831 Diegem with furniture with a
value at least equal to one year’s rent in order to guarantee at least one year’s rent (Legal privilege in accordance with Art. 1752 of the Belgian Civil Code). 

 

	5.	Judgment against the Borrower in favor of J. David Ehlke filed in Erie County in an amount of $2,500 per month for the remainder of the life of J. David Ehlke.

 SCHEDULE 7.2(i) 

Certain Existing Indebtedness 
  

	1.	Bank Guaranties aggregating approximately EUR 326,957 given by BNP Paribas Bank on behalf of CTG Belgium N.V. in the ordinary course of business.

  

	2.	Bank Guaranties aggregating approximately EUR 174,037 given by BNP Paribas Bank on behalf of CTG Luxembourg PSF S.A. in the ordinary course of business.

  

	3.	Obligation by CTG Belgium N.V. in favor of the landlord, Zeus Investments, to furnish the offices at Woluwelaan 140A bus 3 – 1831 Diegem with furniture with a
value at least equal to one year’s rent in order to guarantee at least one year’s rent (Legal privilege in accordance with Art. 1752 of the Belgian Civil Code). 

 

	4.	Any capital leases or purchase money financing arrangements with respect to any equipment identified in any of the Uniform Commercial Code filings set forth in
Item 1 on Schedule 7.1. 

  

	5.	Obligations of the Borrower in the amount of $2,500 a month for the remainder of the life of J. David Ehlke in connection with the judgment set forth in Item 6 on
Schedule 7.1. 

  

	6.	See, under Schedule 4.9, the Schedule of Intercompany Payable Amounts.

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