Document:

exv10w2

Exhibit 10.2

AMENDED AND RESTATED SECURITY AGREEMENT

     THIS AMENDED AND RESTATED SECURITY AGREEMENT (as amended, modified, extended, renewed or
replaced, this “Agreement” or the “Security Agreement”) is entered into as of April
14, 2011 by and among the parties identified as “Grantors” on the signature pages hereto and such
other parties as may become Grantors hereunder after the date hereof (each a “Grantor” and
collectively the “Grantors”), and BANK OF AMERICA, N.A., in its capacity as Collateral
Agent (in such capacity, the “Collateral Agent”) for the holders of the Secured Obligations
(defined below) and amends and restates that certain Security Agreement, dated as of September 30,
2009, as amended and modified from time to time prior to the date hereof, among the grantors from
time to time party thereto and Bank of America, N.A., as administrative agent.

RECITALS

     WHEREAS, a credit facility has been established pursuant to the Credit Agreement (as amended,
modified, supplemented, increased, extended, restated, refinanced and replaced from time to time,
the “Credit Agreement”) dated as of the date hereof among Huron Consulting Group Inc., a
Delaware corporation, as Borrower, the subsidiaries and affiliates identified therein, as
Guarantors, the lenders identified therein, and Bank of America, N.A., as Administrative Agent; and

     WHEREAS, this Agreement is required by the terms of the Credit Agreement.

     NOW, THEREFORE, in consideration of these premises and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

     1. Definitions.

     (a) Capitalized terms used and not otherwise defined herein shall have the meanings ascribed
to such terms in the Credit Agreement, and the following terms which are defined in the Uniform
Commercial Code in effect from time to time in the State of Illinois except as such terms may be
used in connection with the perfection of the Collateral and then the applicable jurisdiction with
respect to such affected Collateral shall apply (the “UCC”): Accession, Account,
As-Extracted Collateral, Chattel Paper, Commercial Tort Claim, Consumer Goods, Deposit Account,
Document, Electronic Chattel Paper, Equipment, Farm Products, Financial Asset, Fixtures, General
Intangible, Goods, Instrument, Inventory, Investment Property, Letter-of-Credit Right, Manufactured
Home, Proceeds, Securities Entitlement, Securities Account, Security, Software, Supporting
Obligation and Tangible Chattel Paper.

     (b) In addition, the following terms shall have the meanings set forth below:

     “Collateral” has the meaning provided in Section 2 hereof.

     “Copyright
License” means any written agreement, naming any Grantor as licensor, granting any right under any Copyright.

     “Copyrights” means (a) all registered United States copyrights in all Works, now existing or hereafter created or acquired,
all registrations and recordings thereof, and all applications in connection therewith, including, without limitation,
registrations, recordings and applications in the United States Copyright Office, and (b) all renewals thereof.

 

 

     “Patent
License” means any agreement, whether written or oral, providing for the grant by or to a Grantor of any right to
manufacture, use or sell any invention covered by a Patent.

     “Patents” means (a) all letters patent of the United States or any other country and all reissues and extensions thereof,
and (b) all applications for letters patent of the United States or any other country and all divisions, continuations and
continuations-in-part thereof.

     “Secured Obligations” means, without duplication, (a) all Obligations and (b)
all costs and expenses incurred in connection with enforcement and collection of the
Obligations, including the reasonable fees, charges and disbursements of counsel.

     “Trademark License” means any agreement, written or oral, providing for the
grant by or to a Grantor of any right to use any Trademark.

     “Trademarks” means (a) all trademarks, trade names, corporate names, company
names, business names, fictitious business names, trade styles, service marks, logos and
other source or business identifiers, and the goodwill associated therewith, now existing or
hereafter adopted or acquired, all registrations and recordings thereof, and all
applications in connection therewith, whether in the United States Patent and Trademark
Office or in any similar office or agency of the United States, any state thereof or any
other country or any political subdivision thereof, or otherwise and (b) all renewals
thereof.

     “Work” means any work that is subject to copyright protection pursuant to Title
17 of the United States Code.

     2. Grant of Security Interest in the Collateral. To secure the prompt payment and
performance in full when due, whether by lapse of time, acceleration, mandatory prepayment or
otherwise, of the Secured Obligations, each Grantor hereby grants to the Collateral Agent, for the
benefit of the holders of the Secured Obligations, a continuing security interest in, and a right
to set off against, any and all right, title and interest of such Grantor in and to all of the
following, whether now owned or existing or owned, acquired, or arising hereafter (collectively,
the “Collateral”): (a) all Accounts; (b) all cash and currency; (c) all Chattel Paper; (d)
those certain Commercial Tort Claims set forth on Schedule 2 hereto; (e) all Copyrights;
(f) all Copyright Licenses; (g) all Deposit Accounts; (h) all Documents; (i) all Equipment; (j) all
Fixtures; (k) all General Intangibles; (l) all Instruments; (m) all Inventory; (n) all Investment
Property; (o) all Letter-of-Credit Rights; (p) all Patents; (q) all Patent Licenses; (r) all
Software; (s) all Supporting Obligations; (t) all Trademarks; (u) all Trademark Licenses; (v) all
other personal property of whatever type or description; and (w) all Accessions and all Proceeds of
any and all of the foregoing.

     Notwithstanding anything to the contrary contained herein, the security interests granted
under this Agreement shall not extend to (i) any equity interests pledged as collateral under the
Pledge Agreement (which interests shall be subject to the terms and provisions thereof), (ii) any
equity interests in Foreign Subsidiaries that are not required to be pledged as collateral, and
(iii) any Excluded Property.

     The Grantors and the Collateral Agent, on behalf of the holders of the Secured Obligations,
hereby acknowledge and agree that the security interest created hereby in the Collateral (i)
constitutes continuing collateral security for all of the Secured Obligations, whether now existing
or hereafter arising and (ii) is not to be construed as an assignment of any Copyrights, Copyright
Licenses, Patents, Patent Licenses, Trademarks or Trademark Licenses.

     3. Representations and Warranties. Each Grantor hereby represents and warrants to the
Collateral Agent, for the benefit of the holders of the Secured Obligations, that:

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     (a) Ownership. The Grantor is the legal and beneficial owner of its Collateral
and has the right to pledge, sell, assign or transfer the same.

     (b) Security Interest/Priority. This Agreement creates a valid security
interest in favor of the Collateral Agent, for the benefit of the holders of the Secured
Obligations, in the Collateral and, when properly perfected by filing, shall constitute a
valid and perfected, first priority security interest in such Collateral, to the extent such
security interest can be perfected by filing under the UCC, free and clear of all Liens
except for Permitted Liens.

     (c) Types of Collateral. None of the Collateral consists of, or is the
Proceeds of, As-Extracted Collateral, Consumer Goods, Farm Products, Manufactured Homes or
standing timber.

     (d) Equipment and Inventory. With respect to any Equipment and/or Inventory of
a Grantor, each such Grantor has exclusive possession and control of such Equipment and
Inventory of such Grantor except for (i) Equipment leased by such Grantor as a lessee, (ii)
Equipment or Inventory in transit with common carriers or (iii) Equipment out for repair or
in the possession of employees in the ordinary course of business. No Inventory of a
Grantor is held by a Person other than a Grantor pursuant to consignment, sale or return,
sale on approval or similar arrangement.

     (e) Consents; Etc. Except for (i) the filing or recording of UCC financing
statements, (ii) the filing of appropriate notices with the United States Patent and
Trademark Office and the United States Copyright Office, (iii) obtaining control to perfect
the Liens created by this Agreement (to the extent required under Section 4(a) hereof), and
(iv) consents, authorizations, filings or other actions which have been obtained or made, no
consent or authorization of, filing with, or other act by or in respect of, any arbitrator
or Governmental Authority and no consent of any other Person (including, without limitation,
any stockholder, member or creditor of such Grantor), is required for (A) the grant by such
Grantor of the security interest in the Collateral granted hereby or for the execution,
delivery or performance of this Agreement by such Grantor, (B) the perfection of such
security interest (to the extent such security interest can be perfected by filing under the
UCC, the granting of control (to the extent required under Section 4(a) hereof) or by filing
an appropriate notice with the United States Patent and Trademark Office or the United
States Copyright Office) or (C) the exercise by the Collateral Agent of the rights and
remedies provided for in this Agreement.

     (f) Commercial Tort Claims. As of the Closing Date, no Grantor has any
Commercial Tort Claims seeking damages in excess of $2,000,000 other than as set forth on
Schedule 2 hereto.

     4. Covenants. Each Grantor covenants that until termination of this Agreement, such
Grantor shall:

     (a) Instruments/Chattel Paper/Control.

     (i) If any amount in excess of $2,000,000 payable under or in connection with
any of the Collateral shall be or become evidenced by any Instrument or Tangible
Chattel Paper, or if any property with a fair market value in excess of $2,000,000
constituting Collateral shall be stored or shipped subject to a Document, ensure
that such Instrument, Tangible Chattel Paper or Document is either (A) in the
possession of such Grantor or any of its agent or representative at all times or (B)
if requested by the Collateral Agent to perfect its security interest in such
Collateral, is (x) delivered to the Collateral Agent duly endorsed in a manner
reasonably satisfactory to the Collateral Agent and (y) in the case of Tangible

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Chattel Paper, marked with a legend reasonably acceptable to the Collateral Agent
indicating the Collateral Agent’s security interest in such Tangible Chattel Paper

     (ii) Execute and deliver all agreements, assignments, instruments or other
documents as reasonably requested by the Collateral Agent for the purpose of
obtaining and maintaining control with respect to any Collateral consisting of (A)
Investment Property, (B) Letter-of-Credit Rights and (C) Electronic Chattel Paper.

     (b) Filing of Financing Statements, Notices, etc. Each Grantor shall execute
and deliver to the Collateral Agent such agreements, assignments or instruments (including
affidavits, notices, reaffirmations and amendments and restatements of existing documents,
as the Collateral Agent may reasonably request) and do all such other things as the
Collateral Agent may reasonably deem necessary or appropriate (i) to assure to the
Collateral Agent its security interests hereunder, including (A) such instruments as the
Collateral Agent may from time to time reasonably request in order to perfect and maintain
the security interests granted hereunder in accordance with the UCC, (B) with regard to
Copyrights, a Notice of Grant of Security Interest in Copyrights in substantially the form
of Exhibit 4(c)(i), (C) with regard to Patents, a Notice of Grant of Security
Interest in Patents for filing with the United States Patent and Trademark Office in
substantially the form of Exhibit 4(c)(ii) hereto and (D) with regard to Trademarks,
a Notice of Grant of Security Interest in Trademarks for filing with the United States
Patent and Trademark Office in substantially the form of Exhibit 4(c)(iii) hereto,
(ii) to consummate the transactions contemplated hereby and (iii) to otherwise protect and
assure the Collateral Agent of its rights and interests hereunder. Furthermore, each
Grantor also hereby irrevocably makes, constitutes and appoints the Collateral Agent, its
nominee or any other person whom the Collateral Agent may designate, as such Grantor’s
attorney in fact with full power and for the limited purpose to sign in the name of such
Grantor any financing statements, or amendments and supplements to financing statements,
renewal financing statements, notices or any similar documents which in the Collateral
Agent’s reasonable discretion would be necessary or appropriate in order to perfect and
maintain perfection of the security interests granted hereunder, such power, being coupled
with an interest, being and remaining irrevocable until termination of this Agreement. Each
Grantor hereby agrees that a carbon, photographic or other reproduction of this Agreement or
any such financing statement is sufficient for filing as a financing statement by the
Collateral Agent without notice thereof to such Grantor wherever the Collateral Agent may in
its sole discretion desire to file the same.

     (c) Collateral Held by Warehouseman, Bailee, etc. If any Collateral is at any
time in the possession or control of a warehouseman, bailee or any agent or processor of
such Grantor and the Collateral Agent so requests (i) notify such Person in writing of the
Collateral Agent’s security interest therein, (ii) instruct such Person to hold all such
Collateral for the Collateral Agent’s account and subject to the Collateral Agent’s
instructions (the Collateral Agent agrees with the Grantors not to issue any instructions
unless an Event of Default has occurred and is continuing) and (iii) use commercially
reasonable efforts to obtain a written acknowledgment from such Person that it is holding
such Collateral for the benefit of the Collateral Agent.

     (d) Commercial Tort Claims. (i) Promptly forward to the Collateral Agent an
updated Schedule 2 listing any and all Commercial Tort Claims by or in favor of such
Grantor seeking damages in excess of $2,000,000 and (ii) execute and deliver such
statements, documents and notices and do and cause to be done all such things as may be
reasonably required by the Collateral Agent, or required by Law to create, preserve, perfect
and maintain the Collateral Agent’s security interest in any Commercial Tort Claims
initiated by or in favor of any Grantor.

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(e) Nature of Collateral. At all times maintain the Collateral as personal
property and not affix any of the Collateral to any real property in a manner which would
change its nature from personal property to real property or a Fixture to real property,
unless the Collateral Agent shall have a perfected Lien on such Fixture or real property.

     5. Authorization to File Financing Statements. Each Grantor hereby authorizes the
Collateral Agent to prepare and file such financing statements (including continuation statements)
or amendments thereof or supplements thereto or other instruments as the Collateral Agent may from
time to time deem necessary or appropriate in order to perfect and maintain the security interests
granted hereunder in accordance with the UCC (including authorization to describe the Collateral as
“all personal property”, “all assets” or words of similar meaning).

     6. Advances. On failure of any Grantor to perform any of the covenants and agreements
contained herein, the Collateral Agent may, in its reasonable discretion, perform the same and in
so doing may expend such sums as the Collateral Agent may reasonably deem advisable in the
performance thereof, including, without limitation, the payment of any insurance premiums, the
payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made
in defending against any adverse claim and all other expenditures which the Collateral Agent may
make for the protection of the security hereof or which may be compelled to make by operation of
Law. All such sums and amounts so expended shall be repayable by the Grantors on a joint and
several basis promptly upon timely notice thereof and demand therefor, shall constitute additional
Secured Obligations and shall bear interest from the date said amounts are expended at the Default
Rate. No such performance of any covenant or agreement by the Collateral Agent on behalf of any
Grantor, and no such advance or expenditure therefor, shall relieve the Grantors of any default
hereunder, under any of the other Loan Documents or under any other documents relating to the
Secured Obligations. The Collateral Agent may make any payment hereby authorized in accordance
with any bill, statement or estimate procured from the appropriate public office or holder of the
claim to be discharged without inquiry into the accuracy of such bill, statement or estimate or
into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the
extent such payment is being contested in good faith by a Grantor in appropriate proceedings and
against which adequate reserves are being maintained in accordance with GAAP.

     7. Remedies.

     (a) General Remedies. Upon the occurrence of an Event of Default and during
continuation thereof, the Collateral Agent shall have, in addition to the rights and remedies
provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations,
or by Law (including levy of attachment, garnishment and the rights and remedies set forth in the
UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a
secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction where the
rights and remedies are asserted and regardless of whether the UCC applies to the affected
Collateral), and further, the Collateral Agent may, with or without judicial process or the aid and
assistance of others, (i) enter on any premises on which any of the Collateral may be located and,
without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose
of any Collateral on any such premises, (iii) require the Grantors to assemble and make available
to the Collateral Agent at the expense of the Grantors any Collateral at any place and time
designated by the Collateral Agent which is reasonably convenient to both parties, (iv) remove any
Collateral from any such premises for the purpose of effecting sale or other disposition thereof,
and/or (v) without demand and without advertisement, notice, hearing or process of law, all of
which each of the Grantors hereby waives to the fullest extent permitted by Law, at any place and
time or times, sell and deliver any or all Collateral held by or for it at public or private sale
(which in the case of a private sale of equity interests, shall be to a restricted group of
purchasers who will be obligated to agree, among other things, to acquire such securities for their
own account, for investment and not with a view to the distribution or resale thereof), at any
exchange or

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broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon
credit or otherwise, at such prices and upon such terms as the Collateral Agent deems advisable, in
its reasonable discretion (subject to any and all mandatory legal requirements). Each Grantor
acknowledges that any such private sale may be at prices and on terms less favorable to the seller
than the prices and other terms which might have been obtained at a public sale and,
notwithstanding the foregoing, agrees that such private sale shall be deemed to have been made in a
commercially reasonable manner and, in the case of a sale of equity interests, that the Collateral
Agent shall have no obligation to delay sale of any such securities for the period of time
necessary to permit the issuer of such securities to register such securities for public sale under
the Securities Act of 1933. Neither the Collateral Agent’s compliance with applicable Law nor its
disclaimer of warranties relating to the Collateral shall be considered to adversely affect the
commercial reasonableness of any sale. To the extent the rights of notice cannot be legally waived
hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such
notice, specifying the place of any public sale or the time after which any private sale is to be
made, is personally served on or mailed, postage prepaid, to the Grantors in accordance with the
notice provisions of Section 11.02 of the Credit Agreement at least 10 days before the time
of sale or other event giving rise to the requirement of such notice. The Collateral Agent may
adjourn any public or private sale from time to time by announcement at the time and place fixed
therefor, and such sale may, without further notice, be made at the time and place to which it was
so adjourned. The Collateral Agent shall not be obligated to make any sale or other disposition of
the Collateral regardless of notice having been given. To the extent permitted by applicable Law,
any holder of Secured Obligations may be a purchaser at any such sale. To the extent permitted by
applicable Law, each of the Grantors hereby waives all of its rights of redemption with respect to
any such sale. Subject to the provisions of applicable Law, the Collateral Agent may postpone or
cause the postponement of the sale of all or any portion of the Collateral by announcement at the
time and place of such sale, and such sale may, without further notice, to the extent permitted by
Law, be made at the time and place to which the sale was postponed, or the Collateral Agent may
further postpone such sale by announcement made at such time and place.

     (b) Remedies relating to Accounts. During the continuation of an Event of Default,
whether or not the Collateral Agent has exercised any or all of its rights and remedies hereunder,
(i) each Grantor will promptly upon request of the Collateral Agent instruct all account debtors to
remit all payments in respect of Accounts to a mailing location selected in writing by the
Collateral Agent and (ii) the Collateral Agent shall have the right to enforce any Grantor’s rights
against its customers and account debtors, and the Collateral Agent or its designee may notify any
Grantor’s customers and account debtors that the Accounts of such Grantor have been assigned to the
Collateral Agent or of the Collateral Agent’s security interest therein, and may (either in its own
name or in the name of a Grantor or both) demand, collect (including without limitation by way of a
lockbox arrangement), receive, take receipt for, sell, sue for, compound, settle, compromise and
give acquittance for any and all amounts due or to become due on any Account, and, in the
Collateral Agent’s reasonable discretion, file any claim or take any other action or proceeding to
protect and realize upon the security interest of the holders of the Secured Obligations in the
Accounts. Each Grantor acknowledges and agrees that the Proceeds of its Accounts remitted to or on
behalf of the Collateral Agent in accordance with the provisions hereof shall be solely for the
Collateral Agent’s own convenience and that such Grantor shall not have any right, title or
interest in such Accounts or in any such other amounts except as expressly provided herein or in
any other Loan Document. Neither the Collateral Agent nor the holders of the Secured Obligations
shall have any liability or responsibility to any Grantor for acceptance of a check, draft or other
order for payment of money bearing the legend “payment in full” or words of similar import or any
other restrictive legend or endorsement or be responsible for determining the correctness of any
remittance. Furthermore, after the occurrence and during the continuation of an Event of Default,
(i) the Collateral Agent shall have the right, but not the obligation, to make test verifications
of the Accounts in any manner and through any medium that it reasonably considers advisable, and
the Grantors shall furnish all such assistance and information as the Collateral Agent may
reasonably require in connection with such test verifications, (ii) upon the Collateral Agent’s
request and at the expense of the Grantors, the Grantors shall

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use its commercially reasonable efforts to cause independent public accountants or others
reasonably satisfactory to the Collateral Agent to furnish to the Collateral Agent reports showing
reconciliations, aging and test verifications of, and trial balances for, the Accounts and (iii)
the Collateral Agent in its own name or in the name of others may communicate with account debtors
on the Accounts to verify with them to the Collateral Agent’s satisfaction the existence, amount
and terms of any Accounts.

     (c) Access. In addition to the rights and remedies hereunder, upon the occurrence of
an Event of Default and during the continuation thereof, the Collateral Agent shall have the right
to enter and remain upon the various premises of the Grantors without cost or charge to the
Collateral Agent, and use the same, together with materials, supplies, books and records of the
Grantors for the purpose of collecting and liquidating the Collateral, or for preparing for sale
and conducting the sale of the Collateral, whether by foreclosure, auction or otherwise. In
addition, the Collateral Agent may remove Collateral, or any part thereof, from such premises
and/or any records with respect thereto, in order to effectively collect or liquidate such
Collateral.

     (d) Nonexclusive Nature of Remedies. Failure by the Collateral Agent to exercise any
right, remedy or option under this Agreement, any other Loan Document, any other document relating
to the Secured Obligations, or as provided by Law, or any delay by the Collateral Agent in
exercising the same, shall not operate as a waiver of any such right, remedy or option. No waiver
hereunder shall be effective unless it is in writing, signed by the party against whom such waiver
is sought to be enforced and then only to the extent specifically stated, which in the case of the
Collateral Agent shall only be granted as provided herein. To the extent permitted by Law, neither
the Collateral Agent, the holders of the Secured Obligations, nor any party acting as attorney for
the Collateral Agent, shall be liable hereunder for any acts or omissions or for any error of
judgment or mistake of fact or law other than their gross negligence or willful misconduct
hereunder. The rights and remedies of the Collateral Agent and the holders of the Secured
Obligations under this Agreement shall be cumulative and not exclusive of any other right or remedy
which the Collateral Agent may have.

     (e) Retention of Collateral. In addition to the rights and remedies hereunder, the
Collateral Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying
with the requirements of applicable Law of the relevant jurisdiction, accept or retain the
Collateral in satisfaction of the Secured Obligations. Unless and until the Collateral Agent shall
have provided such notices, however, the Collateral Agent shall not be deemed to have accepted or
retained any Collateral in satisfaction of any Secured Obligations for any reason.

     (f) Deficiency. In the event that the proceeds of any sale, collection or realization
are insufficient to pay all amounts to which the Collateral Agent are legally entitled, the
Grantors shall be jointly and severally liable for the deficiency, together with interest thereon
at the Default Rate, together with the costs of collection and the fees, charges and disbursements
of counsel. Any surplus remaining after the full payment and satisfaction of the Secured
Obligations shall be returned to the Grantors or to whomsoever a court of competent jurisdiction
shall determine to be entitled thereto.

     8. Rights of the Collateral Agent.

     (a) Power of Attorney. In addition to other powers of attorney contained herein, each
Grantor hereby designates and appoints the Collateral Agent, on behalf of the holders of the
Secured Obligations, and each of its designees or agents, as attorney-in-fact of such Grantor,
irrevocably and with power of substitution, with authority to take any or all of the following
actions upon the occurrence and during the continuation of an Event of Default:

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     (i) to demand, collect, settle, compromise, adjust, give discharges and releases, all
as the Collateral Agent may reasonably determine;

     (ii) to commence and prosecute any actions at any court for the purposes of collecting
any Collateral and enforcing any other right in respect thereof;

     (iii) to defend, settle or compromise any action brought and, in connection therewith,
give such discharge or release as the Collateral Agent may reasonably deem appropriate;

     (iv) receive, open and dispose of mail addressed to a Grantor and endorse checks,
notes, drafts, acceptances, money orders, bills of lading, warehouse receipts or other
instruments or documents evidencing payment, shipment or storage of the goods giving rise to
the Collateral of such Grantor on behalf of and in the name of such Grantor, or securing, or
relating to such Collateral;

     (v) sell, assign, transfer, make any agreement in respect of, or otherwise deal with or
exercise rights in respect of, any Collateral or the goods or services which have given rise
thereto, as fully and completely as though the Collateral Agent were the absolute owner
thereof for all purposes;

     (vi) adjust and settle claims under any insurance policy relating thereto;

     (vii) execute and deliver all assignments, conveyances, statements, financing
statements, renewal financing statements, security agreements, affidavits, notices and other
agreements, instruments and documents that the Collateral Agent may reasonably determine
necessary in order to perfect and maintain the security interests and liens granted in this
Agreement and in order to fully consummate all of the transactions contemplated therein;

     (viii) institute any foreclosure proceedings that the Collateral Agent may reasonably
deem appropriate;

     (ix) to sign and endorse any drafts, assignments, proxies, stock powers, verifications,
notices and other documents relating to the Collateral;

     (x) to pay or discharge taxes, liens, security interests or other encumbrances levied
or placed on or threatened against the Collateral;

     (xi) to direct any parties liable for any payment in connection with any of the
Collateral to make payment of any and all monies due and to become due thereunder directly
to the Collateral Agent or as the Collateral Agent shall direct;

     (xii) to receive payment of and receipt for any and all monies, claims, and other
amounts due and to become due at any time in respect of or arising out of any Collateral;
and

     (xiii) do and perform all such other acts and things as the Collateral Agent may
reasonably deem to be necessary, proper or convenient in connection with the Collateral.

     This power of attorney is a power coupled with an interest and shall be irrevocable until
termination of this Agreement. The Collateral Agent shall be under no duty to exercise or withhold
the exercise of any of the rights, powers, privileges and options expressly or implicitly granted
to the Collateral Agent in this Agreement, and shall not be liable for any failure to do so or any
delay in doing so. The Collateral Agent shall not be liable for any act or omission or for any
error of judgment or any mistake of fact or law in its individual capacity or its capacity as
attorney-in-fact except acts or omissions resulting from its gross

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negligence or willful misconduct. This power of attorney is conferred on the Collateral Agent
solely to protect, preserve and realize upon its security interest in the Collateral.

     (b) Assignment by the Collateral Agent. The Collateral Agent may from time to time
assign the Secured Obligations to a successor Collateral Agent appointed in accordance with the
Credit Agreement, and such successor shall be entitled to all of the protections, rights and
remedies of the Collateral Agent under this Agreement in relation thereto.

     (c) The Collateral Agent’s Duty of Care. Other than the exercise of reasonable care
to assure the safe custody of the Collateral while being held by the Collateral Agent hereunder,
the Collateral Agent shall have no duty or liability to preserve rights pertaining thereto, it
being understood and agreed that the Grantors shall be responsible for preservation of all rights
in the Collateral, and the Collateral Agent shall be relieved of all responsibility for the
Collateral upon surrendering it or tendering the surrender of it to the Grantors. The Collateral
Agent shall be deemed to have exercised reasonable care in the custody and preservation of the
Collateral in its possession if the Collateral is accorded treatment substantially equal to that
which the Collateral Agent accords its own property, which shall be no less than the treatment
employed by a reasonable and prudent agent in the industry, it being understood that the Collateral
Agent shall not have responsibility for taking any necessary steps to preserve rights against any
parties with respect to any of the Collateral. In the event of a public or private sale of
Collateral pursuant to Section 7 hereof, the Collateral Agent shall have no responsibility for (i)
ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or
other matters relating to any Collateral, whether or not the Collateral Agent has or is deemed to
have knowledge of such matters, or (ii) taking any steps to clean, repair or otherwise prepare the
Collateral for sale.

     (d) Liability with Respect to Accounts. Anything herein to the contrary
notwithstanding, each of the Grantors shall remain liable under each of the Accounts to observe and
perform all the conditions and obligations to be observed and performed by it thereunder, all in
accordance with the terms of any agreement giving rise to each such Account. Neither the
Collateral Agent nor any holder of Secured Obligations shall have any obligation or liability under
any Account (or any agreement giving rise thereto) by reason of or arising out of this Agreement or
the receipt by the Collateral Agent or any holder of Secured Obligations of any payment relating to
such Account pursuant hereto, nor shall the Collateral Agent or any holder of Secured Obligations
be obligated in any manner to perform any of the obligations of a Grantor under or pursuant to any
Account (or any agreement giving rise thereto), to make any payment, to make any inquiry as to the
nature or the sufficiency of any payment received by it or as to the sufficiency of any performance
by any party under any Account (or any agreement giving rise thereto), to present or file any
claim, to take any action to enforce any performance or to collect the payment of any amounts which
may have been assigned to it or to which it may be entitled at any time or times.

     (e) Releases of Collateral. (i) If any Collateral shall be sold, transferred or
otherwise disposed of by any Grantor in a transaction permitted by the Credit Agreement, then the
Collateral Agent, at the request and sole expense of such Grantor, shall promptly execute and
deliver to such Grantor all releases and other documents, and take such other action, reasonably
necessary for the release of the Liens created hereby or by any other Collateral Document on such
Collateral. (ii) The Collateral Agent may release any of the equity interests from this Agreement
or may substitute any of the equity interests for other equity interests without altering, varying
or diminishing in any way the force, effect, lien, pledge or security interest of this Agreement as
to any equity interests not expressly released or substituted, and this Agreement shall continue as
a first priority lien on all equity interests not expressly released or substituted.

     9. Application of Proceeds. After the occurrence and during the continuation of an
Event of Default, any payments received hereunder and any proceeds of the Collateral, when received
by the

9

 

Collateral Agent or any holder of the Secured Obligations in cash or its equivalent, will be
applied in reduction of the Secured Obligations as provided in the Credit Agreement.

     10. Continuing Agreement.

     (a) This Agreement shall remain in full force and effect until such time as the Secured
Obligations (other than contingent indemnification obligations for which no claims has been
asserted) arising under the Loan Documents have been paid in full and the commitments relating
thereto shall have expired or been terminated, at which time this Agreement shall be automatically
terminated and the Collateral Agent shall, upon the request and at the expense of the Grantors,
forthwith release all of its liens and security interests hereunder and shall execute and deliver
all UCC termination statements and/or other documents reasonably requested by the Grantors
evidencing such termination; provided, however, that notwithstanding the foregoing,
so long as no Event of Default shall have occurred and be continuing, this Agreement may be
terminated, and the pledges and security interests hereunder released, on payment in full of the
Loan Obligations (other than contingent indemnification obligations for which no claims has been
asserted) and termination of the commitments relating thereto.

     (b) This Agreement shall continue to be effective or be automatically reinstated, as the case
may be, if at any time payment, in whole or in part, of any of the Secured Obligations is rescinded
or must otherwise be restored or returned by the Collateral Agent or any holder of the Secured
Obligations as a preference, fraudulent conveyance or otherwise under any Debtor Relief Law, all as
though such payment had not been made; provided that in the event payment of all or any part of the
Secured Obligations is rescinded or must be restored or returned, all reasonable costs and expenses
(including reasonable fees and disbursements of counsel) incurred by the Collateral Agent or any
holder of the Secured Obligations in defending and enforcing such reinstatement shall be deemed to
be included as a part of the Secured Obligations.

     11. Amendments; Waivers; Modifications, etc. This Agreement and the provisions hereof
may not be amended, waived, modified, changed, discharged or terminated except as set forth in
Section 11.01 of the Credit Agreement; provided that any update or revision to Schedule
2 hereof delivered by any Grantor shall not constitute an amendment for purposes of this
Section 11 or Section 11.01 of the Credit Agreement.

     12. Successors in Interest. This Agreement shall be binding upon each Grantor, its
successors and assigns and shall inure, together with the rights and remedies of the Collateral
Agent and the holders of the Secured Obligations hereunder, to the benefit of the Collateral Agent
and the holders of the Secured Obligations and their successors and permitted assigns.

     13. Notices. All notices required or permitted to be given under this Agreement shall
be subject to the provisions of Section 11.02 of the Credit Agreement.

     14. Counterparts. This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be an original, but all of which shall constitute one
and the same instrument. It shall not be necessary in making proof of this Agreement to produce or
account for more than one such counterpart. Delivery of an executed counterpart of a signature
page of this Agreement by telecopy or other electronic imaging means shall be effective as delivery
of a manually executed counterpart of this Agreement.

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

10

 

     16. Governing Law; Submission to Jurisdiction; Venue; WAIVER OF JURY TRIAL. The terms
of Sections 11.14 and 11.15 of the Credit Agreement with respect to governing law,
submission to jurisdiction, venue and waiver of jury trial are incorporated herein by reference,
mutatis mutandis, and the parties hereto agree to such terms.

     17. Severability. If any provision of this Agreement is determined to be illegal,
invalid or unenforceable, such provision shall be fully severable and the remaining provisions
shall remain in full force and effect and shall be construed without giving effect to the illegal,
invalid or unenforceable provisions.

     18. Entirety. This Agreement, the other Loan Documents and the other documents
relating to the Secured Obligations represent the entire agreement of the parties hereto and
thereto, and supersede all prior agreements and understandings, oral or written, if any, including
any commitment letters or correspondence relating to the Loan Documents, any other documents
relating to the Secured Obligations, or the transactions contemplated herein and therein.

     19. Other Security. To the extent that any of the Secured Obligations are now or
hereafter secured by property other than the Collateral (including real property, securities or
investment property or other personal property owned by a Grantor), or by a guarantee, endorsement
or property of any other Person, then the Collateral Agent shall have the right to proceed against
such other property, guarantee or endorsement upon the occurrence and during the continuation of
any Event of Default, and the Collateral Agent shall have the right, in its sole discretion, to
determine which rights, security, liens, security interests or remedies the Collateral Agent shall
at any time pursue, relinquish, subordinate, modify or take with respect thereto, without in any
way modifying or affecting any of them or the Secured Obligations or any of the rights of the
Collateral Agent or the holders of the Secured Obligations under this Agreement, under any other of
the Loan Documents or under any other document relating to the Secured Obligations.

     20. Joinder. At any time after the date of this Agreement, one or more additional
Persons may become party hereto by executing and delivering to the Collateral Agent a Joinder
Agreement. Immediately upon such execution and delivery of such Joinder Agreement (and without any
further action), each such additional Person will become a party to this Agreement as an “Grantor”
and have all of the rights and obligations of a Grantor hereunder and this Agreement and the
schedules hereto shall be deemed amended by such Joinder Agreement.

     21. Rights of Required Lenders. All rights of the Collateral Agent hereunder, if not
exercised by the Collateral Agent, may be exercised by the Required Lenders to the extent permitted
by applicable law.

[SIGNATURE PAGES FOLLOW]

11

 

Each of the parties hereto has caused a counterpart of this Amended and Restated Security Agreement
to be duly executed and delivered as of the date first above written.

	 	 	 	 	 
	GRANTORS: 	 HURON CONSULTING GROUP INC.,

A Delaware corporation

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 

	 	 	 	 	 
	 	HURON CONSULTING GROUP HOLDINGS LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 

	 	 	 	 	 
	 	HURON CONSULTING SERVICES LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 

	 	 	 	 	 
	 	WELLSPRING MANAGEMENT SERVICES LLC,

formerly known as SPELTZ & WEIS LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 

	 	 	 	 	 
	 	HURON DEMAND LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 

	 	 	 	 	 
	 	HURON TECHNOLOGIES INC.,

a Delaware corporation

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 

HURON CONSULTING GROUP INC.

AMENDED AND RESTATED SECURITY AGREEMENT

 

 

	 	 	 	 	 
	COLLATERAL AGENT: 	BANK OF AMERICA, N.A.,

 as Collateral Agent

 	 
	 	By:  	/s/ Bozena Janociak
 	 
	 	 	Name:  	Bozena Janociak 	 
	 	 	Title:  	Assistant Vice President 	 
	 

HURON CONSULTING GROUP INC.

AMENDED AND RESTATED SECURITY AGREEMENT

 

 

SCHEDULE 2

COMMERCIAL TORT CLAIMS

Huron Consulting Services LLC v. F. Lisa Murtha, Kevin Eskew, Nancy Freeman, Judy Ringholz,
Linda Robinson, and SNR Denton US LLP, formerly known as Sonnenschein Nath & Rosenthal LLP
(Circuit Court of Cook County)

 

 

EXHIBIT 4(c)(i)

NOTICE

OF

GRANT OF SECURITY INTEREST

IN

COPYRIGHTS

United States Copyright Office

Ladies and Gentlemen:

     Please be advised that pursuant to the Amended and Restated Security Agreement dated as of
April 14, 2011 (as the same may be amended, modified, extended or restated from time to time, the
“Agreement”) by and among the Grantors party thereto (each an “Grantor” and
collectively, the “Grantors”) and Bank of America, N.A., as Collateral Agent (the
“Collateral Agent”) for the holders of the Secured Obligations referenced therein, the
undersigned Grantor has granted a continuing security interest in and continuing lien upon the
copyrights and copyright applications set forth on Schedule 1 hereto to the Collateral Agent for
the ratable benefit of the holders of the Secured Obligations.

     The undersigned Grantor and the Collateral Agent, on behalf of the holders of the Secured
Obligations, hereby acknowledge and agree that the security interest in the foregoing copyrights
and copyright applications (i) may only be terminated in accordance with the terms of the Agreement
and (ii) is not to be construed as an assignment of any copyright or copyright application.

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	 	 
	 	[Grantor] 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Acknowledged and Accepted:

	 	 	 	 	 
	BANK OF AMERICA, N.A., as Collateral Agent

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 

 

 

	 	 	 	 	 

EXHIBIT 4(c)(ii)

NOTICE

OF

GRANT OF SECURITY INTEREST

IN

PATENTS

United States Patent and Trademark Office

Ladies and Gentlemen:

     Please be advised that pursuant to the Amended and Restated Security Agreement dated as of
April 14, 2011 (as the same may be amended, modified, extended or restated from time to time, the
“Agreement”) by and among the Grantors party thereto (each an “Grantor” and
collectively, the “Grantors”) and Bank of America, N.A., as Collateral Agent (the
“Collateral Agent”) for the holders of the Secured Obligations referenced therein, the
undersigned Grantor has granted a continuing security interest in and continuing lien upon the
patents and patent applications set forth on Schedule 1 hereto to the Collateral Agent for the
ratable benefit of the holders of the Secured Obligations.

     The undersigned Grantor and the Collateral Agent, on behalf of the holders of the Secured
Obligations, hereby acknowledge and agree that the security interest in the foregoing patents and
patent applications (i) may only be terminated in accordance with the terms of the Agreement and
(ii) is not to be construed as an assignment of any patent or patent application.

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	 	 
	 	[Grantor] 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	Acknowledged and Accepted:

BANK OF AMERICA, N.A., as Collateral Agent

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 

 

 

	 	 	 	 	 

EXHIBIT 4(c)(iii)

NOTICE

OF

GRANT OF SECURITY INTEREST

IN

TRADEMARKS

United States Patent and Trademark Office

Ladies and Gentlemen:

     Please be advised that pursuant to the Amended and Restated Security Agreement dated as of
April 14, 2011 (as the same may be amended, modified, extended or restated from time to time, the
“Agreement”) by and among the Grantors party thereto (each an “Grantor” and
collectively, the “Grantors”) and Bank of America, N.A., as Collateral Agent (the
“Collateral Agent”) for the holders of the Secured Obligations referenced therein, the
undersigned Grantor has granted a continuing security interest in and continuing lien upon the
trademarks and trademark applications set forth on Schedule 1 hereto to the Collateral Agent for
the ratable benefit of the holders of the Secured Obligations.

     The undersigned Grantor and the Collateral Agent, on behalf of the holders of the Secured
Obligations, hereby acknowledge and agree that the security interest in the foregoing trademarks
and trademark applications (i) may only be terminated in accordance with the terms of the Agreement
and (ii) is not to be construed as an assignment of any trademark or trademark application.

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	 	 
	 	[Grantor] 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	Acknowledged and Accepted:

BANK OF AMERICA, N.A., as Collateral Agent

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:exv10w3

Exhibit 10.3

AMENDED AND RESTATED PLEDGE AGREEMENT

     THIS PLEDGE AGREEMENT (as amended, modified, extended, renewed or replaced, this
“Agreement” or the “Pledge Agreement”) is entered into as of April 14, 2011 by and
among the parties identified as “Pledgors” on the signature pages hereto and such other parties as
may become Pledgors hereunder after the date hereof (each a “Pledgor” and collectively the
“Pledgors”), and BANK OF AMERICA, N.A., in its capacity as Collateral Agent (in such
capacity, the “Collateral Agent”) for the holders of the Secured Obligations (defined
below) and amends and restates that certain Pledge Agreement, dated as of July 8, 2008, as amended
and modified from time to time prior to the date hereof, among the pledgors from time to time party
thereto and Bank of America, N.A., as administrative agent.

RECITALS

     WHEREAS, a credit facility has been established pursuant to the Credit Agreement (as amended,
modified, supplemented, increased, extended, restated, refinanced and replaced from time to time,
the “Credit Agreement”) dated as of the date hereof among Huron Consulting Group Inc., a
Delaware corporation, as Borrower, the subsidiaries and affiliates identified therein, as
Guarantors, the lenders identified therein, and Bank of America, N.A., as Administrative Agent; and

     WHEREAS, this Agreement is required by the terms of the Credit Agreement.

     NOW, THEREFORE, in consideration of these premises and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

     1. Definitions.

     (a) Capitalized terms used and not otherwise defined herein shall have the meanings ascribed
to such terms in the Credit Agreement, and the following terms which are defined in the Uniform
Commercial Code in effect from time to time in the State of Illinois except as such terms may be
used in connection with the perfection of the Collateral and then the applicable jurisdiction with
respect to such affected Collateral shall apply (the “UCC”): Financial Asset, Instrument,
Proceeds, Securities Account and Security.

     (b) In addition, the following terms shall have the meanings set forth below:

     “Collateral” has the meaning provided in Section 2 hereof.

     “Pledged Equity” means, with respect to each Pledgor, (i) 100% of the issued
and outstanding Equity Interests in the Borrower and each of its Domestic Subsidiaries that
is directly owned by such Pledgor and (ii) 65% (or such greater percentage that, due to a
change in an applicable Law after the date hereof, (A) could not reasonably be expected to
cause the undistributed earnings of such Material First Tier Foreign Subsidiary as
determined for United States federal income tax purposes to be treated as a deemed dividend
to such Foreign Subsidiary’s United States parent and (B) could not reasonably be expected
to cause any material adverse tax consequences) of the issued and outstanding Equity
Interests entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)) and
100% of the issued and
outstanding Equity Interests not entitled to vote (within the meaning of Treas. Reg. Section
1.956-2(c)(2)) in each Material First Tier Foreign Subsidiary of the Pledgors, including the
Equity Interests set out in Schedule 1 hereto, in each case together with the
certificates (or other agreements or instruments),

 

if any, representing such shares, and all
options and other rights, contractual or otherwise, with respect thereto, including, but not
limited to, the following:

     (1) all Equity Interests representing a dividend thereon, or representing a
distribution or return of capital upon or in respect thereof, or resulting from a
stock split, revision, reclassification or other exchange therefor, and any
subscriptions, warrants, rights or options issued to the holder thereof, or
otherwise in respect thereof; and

     (2) in the event of any consolidation or merger involving the issuer thereof
and in which such issuer is not the surviving Person, all shares of each class of
the Equity Interests of the successor Person formed by or resulting from such
consolidation or merger, to the extent that such successor Person is a direct
Subsidiary of a Pledgor.

     “Secured Obligations” means, without duplication, (a) all Obligations and (b)
all costs and expenses incurred in connection with enforcement and collection of the
Obligations, including the reasonable fees, charges and disbursements of counsel.

     2. Grant of Security Interest in the Collateral. To secure the prompt payment and
performance in full when due, whether by lapse of time, acceleration, mandatory prepayment or
otherwise, of the Secured Obligations, each Pledgor hereby pledges and grants to the Collateral
Agent, for the benefit of the holders of the Secured Obligations, a continuing security interest
in, and a right to set off against, any and all right, title and interest of such Pledgor in and to
all of the following, whether now owned or existing or owned, acquired, or arising hereafter
(collectively, the “Collateral”): all Pledged Equity and all Proceeds thereof.

     The Pledgors and the Collateral Agent, on behalf of the holders of the Secured Obligations,
hereby acknowledge and agree that the security interest created hereby in the Collateral
constitutes continuing collateral security for all of the Secured Obligations, whether now existing
or hereafter arising.

     3. Representations and Warranties. Each Pledgor hereby represents and warrants to the
Collateral Agent, for the benefit of the holders of the Secured Obligations, that:

     (a) Ownership. Such Pledgor is the legal and beneficial owner of its
Collateral and has the right to pledge, sell, assign or transfer the same. There exists no
“adverse claim” within the meaning of Section 8-102 of the UCC with respect to the Pledged
Equity of such Pledgor.

     (b) Security Interest/Priority. This Agreement creates a valid security
interest in favor of the Collateral Agent, for the benefit of the holders of the Secured
Obligations, in the Collateral and, when properly perfected by filing, shall constitute a
valid and perfected, first priority security interest in such Collateral (including all
uncertificated Pledged Equity consisting of interests in partnerships and limited liability
companies that do not constitute Securities), to the extent such security interest can be
perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.
The taking possession by the Collateral Agent of the certificated securities (if any)
evidencing the Pledged Equity and all other Instruments constituting Collateral will perfect
and establish the first priority of the Collateral Agent’s
security interest in all the Pledged Equity evidenced by such certificated securities and
such Instruments.

     (c) Authorization of Pledged Equity. All Pledged Equity is (i) duly authorized
and validly issued, (ii) fully paid and, to the extent applicable, nonassessable and (iii)
is not subject to the preemptive rights of any Person.

2

 

     (d) Interests in Partnerships and Limited Liability Companies. None of the
Collateral consisting of an interest in a partnership or a limited liability company (i) is
dealt in or traded on a securities exchange or in a securities market, (ii) by its terms
expressly provides that it is a Security governed by Article 8 of the UCC, (iii) is an
investment company security, (iv) is held in a Securities Account or (v) constitutes a
Security or a Financial Asset.

     (e) Consents; Etc. There are no restrictions in any Organization Document or
shareholder agreement, buy-sell agreement or other similar agreement governing or relating
to any Pledged Equity which would limit or restrict (i) the grant of a Lien pursuant to this
Agreement on such Pledged Equity, (ii) the perfection of such Lien or (iii) the exercise of
remedies in respect of such perfected Lien in the Pledged Equity as contemplated by this
Agreement. Except for (i) the filing or recording of UCC financing statements, (ii) such
actions as may be required by Laws affecting the offering and sale of securities, (iii) such
actions as may be required by Laws affecting the offering and sale of securities, (iv) such
actions as may be required by applicable foreign Laws affecting the pledge of the Pledged
Equity of Foreign Subsidiaries, and (v) consents, authorizations, filings or other actions
which have been obtained or made, no consent or authorization of, filing with, or other act
by or in respect of, any arbitrator or Governmental Authority and no consent of any other
Person (including, without limitation, any stockholder, member or creditor of such Pledgor),
is required for (A) the grant by such Pledgor of the security interest in the Collateral
granted hereby or for the execution, delivery or performance of this Agreement by such
Pledgor, (B) the perfection of such security interest (to the extent such security interest
can be perfected by filing under the UCC) or (C) the exercise by the Collateral Agent of the
rights and remedies provided for in this Agreement.

     4. Covenants. Each Pledgor covenants that until termination of this Agreement, such
Pledgor shall:

     (a) Delivery of Pledged Equity. Deliver to the Collateral Agent in accordance
with the terms of the Credit Agreement, all certificates and instruments constituting
Pledged Equity of such Pledgor. Prior to delivery to the Collateral Agent, all such
certificates constituting Pledged Equity shall be held in trust by such Pledgor for the
benefit of the Collateral Agent pursuant hereto. All such certificates representing Pledged
Equity shall be delivered in suitable form for transfer by delivery or shall be accompanied
by undated duly executed instruments of transfer or assignment in blank, in a form
reasonably acceptable to the Collateral Agent.

     (b) Filing of Financing Statements, Notices, etc. Each Pledgor shall execute
and deliver to the Collateral Agent such agreements, assignments or instruments (including
affidavits, notices, reaffirmations and amendments and restatements of existing documents,
as the Collateral Agent may reasonably request) and do all such other things as the
Collateral Agent may reasonably deem necessary or appropriate (i) to assure to the
Collateral Agent its security interests hereunder, including such instruments as the
Collateral Agent may from time to time reasonably request in order to perfect and maintain
the security interests granted hereunder in accordance with the UCC, and (iii) to otherwise
protect and assure the Collateral Agent of its
rights and interests hereunder. Furthermore, each Pledgor also hereby irrevocably makes,
constitutes and appoints the Collateral Agent, its nominee or any other person whom the
Collateral Agent may designate, as such Pledgor’s attorney in fact with full power and for
the limited purpose to sign in the name of such Pledgor any financing statements, or
amendments and supplements to financing statements, renewal financing statements, notices or
any similar documents which in the Collateral Agent’s reasonable discretion would be
necessary or appropriate in order to perfect and maintain perfection of the security
interests granted hereunder, such power, being coupled with an interest, being and remaining
irrevocable until termination of this Agreement. Each Pledgor hereby agrees that a carbon,
photographic or other

3

 

reproduction of this Agreement or any such financing statement is
sufficient for filing as a financing statement by the Collateral Agent without notice
thereof to such Pledgor wherever the Collateral Agent may in its sole discretion desire to
file the same.

     (c) Issuance or Acquisition of Equity Interests in Partnership or Limited Liability
Company. Not without executing and delivering, or causing to be executed and delivered,
to the Collateral Agent such agreements, documents and instruments as the Collateral Agent
may reasonably require, issue or acquire any Pledged Equity consisting of an interest in a
partnership or a limited liability company that (i) is dealt in or traded on a securities
exchange or in a securities market, (ii) by its terms expressly provides that it is a
Security governed by Article 8 of the UCC, (iii) is an investment company security, (iv) is
held in a Securities Account or (v) constitutes a Security or a Financial Asset.

     5. Authorization to File Financing Statements. Each Pledgor hereby authorizes the
Collateral Agent to prepare and file such financing statements (including continuation statements)
or amendments thereof or supplements thereto or other instruments as the Collateral Agent may from
time to time reasonably deem necessary or appropriate in order to perfect and maintain the security
interests granted hereunder in accordance with the UCC (including authorization to describe the
Collateral hereunder, together with the collateral under the Security Agreement, as “all personal
property”, “all assets” or words of similar meaning).

     6. Advances. On failure of any Pledgor to perform any of the covenants and agreements
contained herein, the Collateral Agent may, in its reasonable discretion, perform the same and in
so doing may expend such sums as the Collateral Agent may reasonably deem advisable in the
performance thereof, including, without limitation, the payment of any insurance premiums, the
payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made
in defending against any adverse claim and all other expenditures which the Collateral Agent may
make for the protection of the security hereof or which may be compelled to make by operation of
Law. All such sums and amounts so expended shall be repayable by the Pledgors on a joint and
several basis promptly upon timely notice thereof and demand therefor, shall constitute additional
Secured Obligations and shall bear interest from the date said amounts are expended at the Default
Rate. No such performance of any covenant or agreement by the Collateral Agent on behalf of any
Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgors of any default
hereunder, under any of the other Loan Documents or under any other documents relating to the
Secured Obligations. The Collateral Agent may make any payment hereby authorized in accordance
with any bill, statement or estimate procured from the appropriate public office or holder of the
claim to be discharged without inquiry into the accuracy of such bill, statement or estimate or
into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the
extent such payment is being contested in good faith by a Pledgor in appropriate proceedings and
against which adequate reserves are being maintained in accordance with GAAP.

     7. Remedies.

     (a) General Remedies. Upon the occurrence of an Event of Default and during
continuation thereof, the Collateral Agent shall have, in addition to the rights and remedies
provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations,
or by Law (including levy of attachment, garnishment and the rights and remedies set forth in the
UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a
secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction where the
rights and remedies are asserted and regardless of whether the UCC applies to the affected
Collateral), and further, the Collateral Agent may, with or without judicial process or the aid and
assistance of others, without demand and without advertisement, notice, hearing or process of law,
all of which each of the Pledgors hereby waives to the fullest extent permitted by Law, at any
place and time or times, sell and deliver any or all Collateral held by or for it at public or
private sale (which in the case of a

4

 

private sale of Pledged Equity, shall be to a restricted group
of purchasers who will be obligated to agree, among other things, to acquire such securities for
their own account, for investment and not with a view to the distribution or resale thereof), at
any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for
cash, upon credit or otherwise, at such prices and upon such terms as the Collateral Agent deems
advisable, in its reasonable discretion (subject to any and all mandatory legal requirements).
Each Pledgor acknowledges that any such private sale may be at prices and on terms less favorable
to the seller than the prices and other terms which might have been obtained at a public sale and,
notwithstanding the foregoing, agrees that such private sale shall be deemed to have been made in a
commercially reasonable manner and, in the case of a sale of Pledged Equity, that the Collateral
Agent shall have no obligation to delay sale of any such securities for the period of time
necessary to permit the issuer of such securities to register such securities for public sale under
the Securities Act of 1933. Neither the Collateral Agent’s compliance with applicable Law nor its
disclaimer of warranties relating to the Collateral shall be considered to adversely affect the
commercial reasonableness of any sale. To the extent the rights of notice cannot be legally waived
hereunder, each Pledgor agrees that any requirement of reasonable notice shall be met if such
notice, specifying the place of any public sale or the time after which any private sale is to be
made, is personally served on or mailed, postage prepaid, to the Pledgors in accordance with the
notice provisions of Section 11.02 of the Credit Agreement at least 10 days before the time
of sale or other event giving rise to the requirement of such notice. The Collateral Agent may
adjourn any public or private sale from time to time by announcement at the time and place fixed
therefor, and such sale may, without further notice, be made at the time and place to which it was
so adjourned. Each Pledgor further acknowledges and agrees that any offer to sell any Pledged
Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other
publication of general circulation in the financial community of New York, New York (to the extent
that such offer may be advertised without prior registration under the Securities Act of 1933), or
(ii) made privately in the manner described above shall be deemed to involve a “public sale” under
the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities
Act of 1933, and the Collateral Agent may, in such event, bid for the purchase of such securities.
The Collateral Agent shall not be obligated to make any sale or other disposition of the Collateral
regardless of notice having been given. To the extent permitted by applicable Law, any holder of
Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable
Law, each of the Pledgors hereby waives all of its rights of redemption with respect to any such
sale. Subject to the provisions of applicable Law, the Collateral Agent may postpone or cause the
postponement of the sale of all or any portion of the Collateral by announcement at the time and
place of such sale, and such sale may, without further notice, to the extent permitted by Law, be
made at the time and place to which the sale was postponed, or the Collateral Agent may further
postpone such sale by announcement made at such time and place.

     (d) Nonexclusive Nature of Remedies. Failure by the Collateral Agent to exercise any
right, remedy or option under this Agreement, any other Loan Document, any other document relating
to the Secured Obligations, or as provided by Law, or any delay by the Collateral Agent in
exercising the same, shall not operate as a waiver of any such right, remedy or option. No waiver
hereunder shall be effective unless it is in writing, signed by the party against whom such waiver
is sought to be enforced and then only to the extent specifically stated, which in the case of the
Collateral Agent shall only be granted as provided herein. To the extent permitted by Law, neither
the Collateral Agent, the holders of the Secured Obligations, nor any party acting as attorney for
the Collateral Agent, shall be liable hereunder for any acts or omissions or for any error of
judgment or mistake of fact or law other than their gross negligence or willful misconduct
hereunder. The rights and remedies of the Collateral Agent and the holders of the Secured
Obligations under this Agreement shall be cumulative and not exclusive of any other right or remedy
which the Collateral Agent may have.

5

 

     (e) Retention of Collateral. In addition to the rights and remedies hereunder, the
Collateral Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying
with the requirements of applicable Law of the relevant jurisdiction, accept or retain the
Collateral in satisfaction of the Secured Obligations. Unless and until the Collateral Agent shall
have provided such notices, however, the Collateral Agent shall not be deemed to have accepted or
retained any Collateral in satisfaction of any Secured Obligations for any reason.

     (f) Deficiency. In the event that the proceeds of any sale, collection or realization
are insufficient to pay all amounts to which the Collateral Agent are legally entitled, the
Pledgors shall be jointly and severally liable for the deficiency, together with interest thereon
at the Default Rate, together with the costs of collection and the fees, charges and disbursements
of counsel. Any surplus remaining after the full payment and satisfaction of the Secured
Obligations shall be returned to the Pledgors or to whomsoever a court of competent jurisdiction
shall determine to be entitled thereto.

     8. Rights of the Collateral Agent.

     (a) Power of Attorney. In addition to other powers of attorney contained herein, each
Pledgor hereby designates and appoints the Collateral Agent, on behalf of the holders of the
Secured Obligations, and each of its designees or agents, as attorney-in-fact of such Pledgor,
irrevocably and with power of substitution, with authority to take any or all of the following
actions upon the occurrence and during the continuation of an Event of Default:

     (i) to demand, collect, settle, compromise, adjust, give discharges and releases, all
as the Collateral Agent may reasonably determine;

     (ii) to commence and prosecute any actions at any court for the purposes of collecting
any Collateral and enforcing any other right in respect thereof;

     (iii) to defend, settle or compromise any action brought and, in connection therewith,
give such discharge or release as the Collateral Agent may reasonably deem appropriate;

     (iv) receive, open and dispose of mail addressed to a Pledgor and endorse checks,
notes, drafts, acceptances, money orders or other instruments or documents constituting
Collateral;

     (v) sell, assign, transfer, make any agreement in respect of, or otherwise deal with or
exercise rights in respect of, any Collateral or the goods or services which have given rise
thereto, as fully and completely as though the Collateral Agent were the absolute owner
thereof for all purposes;

     (vi) adjust and settle claims under any insurance policy relating thereto;

     (vii) execute and deliver all assignments, conveyances, statements, financing
statements, renewal financing statements, security agreements, affidavits, notices and other
agreements, instruments and documents that the Collateral Agent may reasonably determine
necessary in order to perfect and maintain the security interests and liens granted in this
Agreement and in order to fully consummate all of the transactions contemplated therein;

     (viii) institute any foreclosure proceedings that the Collateral Agent may reasonably
deem appropriate;

6

 

     (ix) to sign and endorse any drafts, assignments, proxies, stock powers, verifications,
notices and other documents relating to the Collateral;

     (x) to exchange any of the Pledged Equity or other property upon any merger,
consolidation, reorganization, recapitalization or other readjustment of the issuer thereof
and, in connection therewith, deposit any of the Pledged Equity with any committee,
depository, transfer agent, registrar or other designated agency upon such terms as the
Collateral Agent may reasonably deem appropriate;

     (xi) to vote for a shareholder resolution, or to sign an instrument in writing,
sanctioning the transfer of any or all of the Pledged Equity into the name of the Collateral
Agent or one or more of the holders of the Secured Obligations or into the name of any
transferee to whom the Pledged Equity or any part thereof may be sold pursuant to Section 7
hereof;

     (xii) to pay or discharge taxes, liens, security interests or other encumbrances levied
or placed on or threatened against the Collateral;

     (xiii) to direct any parties liable for any payment in connection with any of the
Collateral to make payment of any and all monies due and to become due thereunder directly
to the Collateral Agent or as the Collateral Agent shall direct;

     (xiv) to receive payment of and receipt for any and all monies, claims, and other
amounts due and to become due at any time in respect of or arising out of any Collateral;
and

     (xv) do and perform all such other acts and things as the Collateral Agent may
reasonably deem to be necessary, proper or convenient in connection with the Collateral.

     This power of attorney is a power coupled with an interest and shall be irrevocable until
termination of this Agreement. The Collateral Agent shall be under no duty to exercise or withhold
the exercise of any of the rights, powers, privileges and options expressly or implicitly granted
to the Collateral Agent in this Agreement, and shall not be liable for any failure to do so or any
delay in doing so. The Collateral Agent shall not be liable for any act or omission or for any
error of judgment or any mistake of fact or law in its individual capacity or its capacity as
attorney-in-fact except acts or omissions resulting from its gross negligence or willful
misconduct. This power of attorney is conferred on the Collateral Agent solely to protect,
preserve and realize upon its security interest in the Collateral.

     (b) Assignment by the Collateral Agent. The Collateral Agent may from time to time
assign the Secured Obligations to a successor Collateral Agent appointed in accordance with the
Credit Agreement, and such successor shall be entitled to all of the protections, rights and
remedies of the Collateral Agent under this Agreement in relation thereto.

     (c) The Collateral Agent’s Duty of Care. Other than the exercise of reasonable care
to assure the safe custody of the Collateral while being held by the Collateral Agent hereunder,
the Collateral Agent shall have no duty or liability to preserve rights pertaining thereto, it
being understood and agreed that the Pledgors shall be responsible for preservation of all rights
in the Collateral, and the Collateral Agent shall be relieved of all responsibility for the
Collateral upon surrendering it or tendering the surrender of it to the Pledgors. The Collateral
Agent shall be deemed to have exercised reasonable care in the custody and preservation of the
Collateral in its possession if the Collateral is accorded treatment substantially equal to that
which the Collateral Agent accords its own property, which shall be no less than the treatment
employed by a reasonable and prudent agent in the industry, it being understood that the Collateral
Agent shall not have responsibility

7

 

for taking any necessary steps to preserve rights against any
parties with respect to any of the Collateral. In the event of a public or private sale of
Collateral pursuant to Section 7 hereof, the Collateral Agent shall have no responsibility for (i)
ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or
other matters relating to any Collateral, whether or not the Collateral Agent has or is deemed to
have knowledge of such matters, or (ii) taking any steps to clean, repair or otherwise prepare the
Collateral for sale.

     (d) Voting and Payment Rights in Respect of the Pledged Equity.

     (i) So long as no Event of Default shall have occurred and be continuing, each Pledgor
may (A) exercise any and all voting and other consensual rights pertaining to the Pledged
Equity of such Pledgor or any part thereof for any purpose not inconsistent with the terms
of this Agreement or the Credit Agreement and (B) receive and retain any and all dividends
(other than stock dividends and other dividends constituting Collateral which are addressed
hereinabove), principal or interest paid in respect of the Pledged Equity to the extent they
are allowed under the Credit Agreement; and

     (ii) After the occurrence and during the continuation of an Event of Default and after
the Collateral Agent has provided written notice to the Borrower, (A) all rights of a
Pledgor to exercise the voting and other consensual rights which it would otherwise be
entitled to exercise pursuant to clause (i)(A) above shall cease and all such rights shall
thereupon become vested in the Collateral Agent which shall then have the sole right to
exercise such voting and other consensual rights to the extent permitted by applicable law,
(B) all rights of a Pledgor to receive the dividends, principal and interest payments which
it would otherwise be authorized to receive and retain pursuant to clause (i)(B) above shall
cease and all such rights shall thereupon be vested in the Collateral Agent which shall then
have the sole right to receive and hold as Collateral such dividends, principal and interest
payments to the extent permitted by applicable law, and (C) all dividends, principal and
interest payments which are received by a Pledgor contrary to the provisions of clause
(ii)(B) above shall be received in trust for the benefit of the Collateral Agent, shall be
segregated from other property or funds of such Pledgor, and shall be forthwith paid over to
the Collateral Agent as Collateral in the exact form received, to be held by the Collateral
Agent as Collateral and as further collateral security for the Secured Obligations.

     (e) Releases of Collateral. (i) If any Collateral shall be sold, transferred or
otherwise disposed of by any Pledgor in a transaction permitted by the Credit Agreement, then the
Collateral Agent, at the request and sole expense of such Pledgor, shall promptly execute and
deliver to such Pledgor all releases and other documents, and take such other action, reasonably
necessary for the release of the Liens created hereby or by any other Collateral Document on such
Collateral. (ii) The Collateral Agent may release any of the Pledged Equity from this Agreement or
may substitute any of the Pledged Equity for other Pledged Equity without altering, varying or
diminishing in any way the force, effect, lien, pledge or security interest of this Agreement as to
any Pledged Equity not expressly released or substituted, and this Agreement shall continue as a
first priority lien on all Pledged Equity not expressly released or substituted.

     9. Application of Proceeds. After the occurrence and during the continuation of an
Event of Default, any payments received hereunder and any proceeds of the Collateral, when received
by the Collateral Agent or any holder of the Secured Obligations in cash or its equivalent, will be
applied in reduction of the Secured Obligations as provided in the Credit Agreement.

8

 

     10. Continuing Agreement.

     (a) This Agreement shall remain in full force and effect until such time as the Secured
Obligations (other than contingent indemnification obligations for which no claims has been
asserted) arising under the Loan Documents have been paid in full and the commitments relating
thereto shall have expired or been terminated, at which time this Agreement shall be automatically
terminated and the Collateral Agent shall, upon the request and at the expense of the Pledgors,
forthwith release all of its liens and security interests hereunder and shall execute and deliver
all UCC termination statements and/or other documents reasonably requested by the Pledgors
evidencing such termination and return all possessory collateral; provided,
however, that notwithstanding the foregoing, so long as no Event of Default shall have
occurred and be continuing, this Agreement may be terminated, and the pledges and security
interests hereunder released, on payment in full of the Loan Obligations (other than contingent
indemnification obligations for which no claims has been asserted) and termination of the
commitments relating thereto.

     (b) This Agreement shall continue to be effective or be automatically reinstated, as the case
may be, if at any time payment, in whole or in part, of any of the Secured Obligations is rescinded
or must otherwise be restored or returned by the Collateral Agent or any holder of the Secured
Obligations as a preference, fraudulent conveyance or otherwise under any Debtor Relief Law, all as
though such payment had not been made; provided that in the event payment of all or any part of the
Secured Obligations is rescinded or must be restored or returned, all reasonable costs and expenses
(including reasonable fees and disbursements of counsel) incurred by the Collateral Agent or any
holder of the Secured Obligations in defending and enforcing such reinstatement shall be deemed to
be included as a part of the Secured Obligations.

     11. Amendments; Waivers; Modifications, etc. This Agreement and the provisions hereof
may not be amended, waived, modified, changed, discharged or terminated except as set forth in
Section 11.01 of the Credit Agreement; provided that any update or revision to Schedule
1 hereof delivered by any Pledgor shall not constitute an amendment for purposes of this
Section 11 or Section 11.01 of the Credit Agreement.

     12. Successors in Interest. This Agreement shall be binding upon each Pledgor, its
successors and assigns and shall inure, together with the rights and remedies of the Collateral
Agent and the holders of the Secured Obligations hereunder, to the benefit of the Collateral Agent and the
holders of the Secured Obligations and their successors and permitted assigns.

     13. Notices. All notices required or permitted to be given under this Agreement shall
be subject to the provisions of Section 11.02 of the Credit Agreement.

     14. Counterparts. This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be an original, but all of which shall constitute one
and the same instrument. It shall not be necessary in making proof of this Agreement to produce or
account for more than one such counterpart. Delivery of an executed counterpart of a signature
page of this Agreement by telecopy or other electronic imaging means shall be effective as delivery
of a manually executed counterpart of this Agreement.

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

     16. Governing Law; Submission to Jurisdiction; Venue; WAIVER OF JURY TRIAL. The terms
of Sections 11.14 and 11.15of the Credit Agreement with respect to governing law,
submission to jurisdiction, venue and waiver of jury trial are incorporated herein by reference,
mutatis mutandis, and the parties hereto agree to such terms.

9

 

     17. Severability. If any provision of this Agreement is determined to be illegal,
invalid or unenforceable, such provision shall be fully severable and the remaining provisions
shall remain in full force and effect and shall be construed without giving effect to the illegal,
invalid or unenforceable provisions.

     18. Entirety. This Agreement, the other Loan Documents and the other documents
relating to the Secured Obligations represent the entire agreement of the parties hereto and
thereto, and supersede all prior agreements and understandings, oral or written, if any, including
any commitment letters or correspondence relating to the Loan Documents, any other documents
relating to the Secured Obligations, or the transactions contemplated herein and therein.

     19. Other Security. To the extent that any of the Secured Obligations are now or
hereafter secured by property other than the Collateral (including real property, securities or
other investment property or other personal property owned by a Pledgor), or by a guarantee,
endorsement or property of any other Person, then the Collateral Agent shall have the right to
proceed against such other property, guarantee or endorsement upon the occurrence and during the
continuation of any Event of Default, and the Collateral Agent shall have the right, in its sole
discretion, to determine which rights, security, liens, security interests or remedies the
Collateral Agent shall at any time pursue, relinquish, subordinate, modify or take with respect
thereto, without in any way modifying or affecting any of them or the Secured Obligations or any of
the rights of the Collateral Agent or the holders of the Secured Obligations under this Agreement,
under any other of the Loan Documents or under any other document relating to the Secured
Obligations.

     20. Joinder. At any time after the date of this Agreement, one or more additional
Persons may become party hereto by executing and delivering to the Collateral Agent a Joinder
Agreement. Immediately upon such execution and delivery of such Joinder Agreement (and without any
further action), each such additional Person will become a party to this Agreement as an “Pledgor”
and have all of the rights and obligations of a Pledgor hereunder and this Agreement and the schedules hereto
shall be deemed amended by such Joinder Agreement.

     21. Rights of Required Lenders. All rights of the Collateral Agent hereunder, if not
exercised by the Collateral Agent, may be exercised by the Required Lenders to the extent permitted
by applicable law.

[SIGNATURE PAGES FOLLOW]

10

 

Each of the parties hereto has caused a counterpart of this Amended and Restated Pledge Agreement
to be duly executed and delivered as of the date first above written.

	 	 	 	 	 
	PLEDGORS: 	HURON CONSULTING GROUP INC.,

A Delaware corporation

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 
	 	HURON CONSULTING GROUP HOLDINGS LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 
	 	HURON CONSULTING SERVICES LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 
	 	WELLSPRING MANAGEMENT SERVICES LLC,

formerly known as SPELTZ & WEIS LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 
	 	HURON DEMAND LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 
	 	HURON TECHNOLOGIES INC.,

a Delaware corporation

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 

HURON CONSULTING GROUP INC.

AMENDED AND RESTATED PLEDGE AGREEMENT

 

 

	 	 	 	 	 
	COLLATERAL AGENT: 	BANK OF AMERICA, N.A.,

 as Collateral Agent

 	 
	 	By:  	/s/ Bozena Janociak
 	 
	 	 	Name:  	Bozena Janociak 	 
	 	 	Title:  	Assistant Vice President 	 
	 

HURON CONSULTING GROUP INC.

AMENDED AND RESTATED PLEDGE AGREEMENT

 

 

Schedule 1

Pledged Equity Interests

(i) Certificated Securities

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Number of	 	Certificate	 	Percentage
	Pledgor	 	Issuer	 	Shares	 	Number	 	Ownership
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Huron Consulting Group Inc.
	 	Huron (UK) Limited	 	 	65	 	 	 	4	 	 	 	65	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Huron Consulting Group Holdings LLC
	 	Huron Technologies Inc.	 	 	100	 	 	 	C-16	 	 	 	100	%

(ii) Uncertificated Limited Liability Company Interests

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Number of	 	Certificate	 	Percentage
	Pledgor	 	Issuer	 	Shares	 	Number	 	Ownership
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Huron Consulting Group Inc.
	 	Huron Consulting Group Holdings LLC	 	 	1	 	 	 	N/A	 	 	 	100	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Huron Consulting Group Holdings LLC
	 	Huron Consulting Services LLC	 	 	1	 	 	NA	 	 	100	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Huron Consulting Group Holdings LLC
	 	Wellspring Management Services LLC	 	 	1	 	 	 	N/A	 	 	 	100	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Huron Consulting Group Holdings LLC
	 	Huron Demand LLC	 	 	1	 	 	 	N/A	 	 	 	100	%

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Number of	 	Certificate	 	Percentage
	Pledgor	 	Issuer	 	Shares	 	Number	 	Ownership
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Huron Consulting Group Holdings LLC
	 	Huron Saudi Limited	 	 	13	 	 	 	N/A	 	 	 	3.25	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Huron Consulting Group Inc.
	 	Huron Middle East LLC	 	 	65	 	 	 	N/A	 	 	 	65	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Huron Consulting Group Inc.
	 	Huron Saudi Limited	 	 	247	 	 	 	N/A	 	 	 	61.75	%

 

 

EXHIBIT 4(a)

IRREVOCABLE STOCK POWER

     FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers to

the following equity interests of                                         , a                      corporation:

	 	 	 
	No. of Shares	 	Certificate No.
	 	 	 

and irrevocably appoints                                                              its agent and attorney-in-fact to transfer all
 or
any part of such equity interests and to take all necessary and appropriate action to effect any
such transfer. The agent and attorney-in-fact may substitute and appoint one or more persons to
act for him.

	 	 	 	 	 
	 	 	 
	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:

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