Document:

EX-10.11

 Exhibit 10.11 

June 30, 2017 
 Alithya Group Inc. 

2875 boul. Laurier, office 1250 
 Quebec (Quebec) G1V 2M2 

Modification to the Credit facilities Agreement 

Executed as of March 27, 2017 (including any and all prior modifications, the “Agreement”) agreed upon by Canadian Imperial Bank
of Commerce (“CIBC”) and Alithya Group Inc. Alithya Consulting Inc., Systemware Innovation Corporation and Pro2p Services Conseils Inc. (the “Borrowers”). 

Modifications: The Agreement is hereby modified as follows: 

Under Covenants section of the Agreement, the text is modified as follows: 
  

			
	From:	  	
		
	Financial covenants: -	  	The working capital ratio shall be at least 1.05: 1.0 at all times. This ratio will have to be 1.20: 1.0 as at March 31, 2017;
		
		  	The Senior Debt Ratio/EBITDA does not exceed: 3.50: 1.0 at all times. This ratio will have to be 3: 1 as at March 31, 2017;
		
		  	All financial covenants will be calculated on a consolidated basis, taking into account the Borrower and its Subsidiaries, on a quarterly basis. EBITDA will be calculated based on the last 12 months.
		
	To:	  	
		
	Financial covenants: -	  	The working capital ratio shall be at least 1.00: 1.0 at all times. This ratio will have to be 1.20: 1.0 as at March 31, 2018;
		
		  	The Senior Debt Ratio/EBITDA does not exceed: 3.50: 1.0 at all times. This ratio will have to be 3: 1 as at March 31, 2017;
		
		  	All financial covenants will be calculated on a consolidated basis, taking into account the Borrower and its Subsidiaries, on a quarterly basis. EBITDA will be calculated based on the last 12 months.
		
		  	It is also understood that at the time of calculation of the financial ratios, the Stocks base compensation would be considered in the calculation of the adjusted EBITDA. For clarification purposes, the adjusted EBITDA is then
earnings before interest, taxes, depreciation, amortization and Stocks base compensation.

 Confirmation: The Agreement as hereby modified remains in full force. 

CANADIAN IMPERIAL BANK OF COMMERCE 
  

	
	/s/ Jean-Bébastien Houde
	Name: Jean-Bébastien Houde
	Title: Authorized Signatory

  

	
	/s/ David Bouchard
	David Bouchard
	Title: Authorized Signatory

 Accepted on July 6, 2017 

2875 boul. Laurier, 
 Suite 1250 

Quebec (Quebec) G1V 4M2 
 We hereby acknowledge that we have read
the this letter and agree to be bound by the terms and conditions present. 
 Alithya Group Inc. 

 

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

  

	
	/s/ Marc Cantin
	Name: Marc Cantin

 Title: Vice President Legal Affairs and Secretary 

Alithya Consulting Inc. 
  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

	
	/s/ Marc Cantin
	Name: Marc Cantin

 Title: Vice President Legal Affairs and Secretary 

Systemware Innovation Corporation 
  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

  

	
	/s/ Marc Cantin
	Name: Marc Cantin

 Title: Vice President Legal Affairs and Secretary 

Pro2p Services Conseils Inc. 
  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

  

	
	/s/ Marc Cantin
	Name: Marc Cantin

 Title: Vice President Legal Affairs and Secretary 

We hereby acknowledge that we have read the this letter and agree to be bound by the terms and conditions present. 

Alithya Consulting SAS 
 (the “Guarantors”) 

 

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

  

	
	/s/ Marc Cantin
	Name: Marc Cantin

 Title: Vice President Legal Affairs and Secretary 

Alithya Consulting USA inc. 
 (the “Guarantors”) 

 

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

	
	/s/ Marc Cantin
	Name: Marc Cantin

 Title: Vice President Legal Affairs and Secretary 

Alithya Group Inc. 
 (the “Guarantors”) 

 

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

  

	
	/s/ Marc Cantin
	Name: Marc Cantin

 Title: Vice President Legal Affairs and Secretary 

Alithya Consulting Inc. 
 (the “Guarantors”) 

 

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

  

	
	/s/ Marc Cantin
	Name: Marc Cantin

 Title: Vice President Legal Affairs and Secretary 

Systemware Innovation Corporation 
 (the “Guarantors”)

  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

  

	
	/s/ Marc Cantin
	Name: Marc Cantin

 Title: Vice President Legal Affairs and Secretary 

Pro2p Services Conseils Inc. 
 (the “Guarantors”) 

 

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

  

	
	/s/ Marc Cantin
	Name: Marc Cantin

 Title: Vice President Legal Affairs and SecretaryEX-10.12

 Exhibit 10.12 

July 28, 2017 
 Alithya Group Inc. 

2875 boul. Laurier, office 1250 
 Quebec (Quebec) G1V 2M2 

Modification to the Credit facilities Agreement 

Executed as of March 27, 2017 and the Amendment to the Credit Facility Agreement executed as of June 30, 2017 (including any and all prior
modifications, the “Agreement”) agreed upon by Canadian Imperial Bank of Commerce (“CIBC”) and Alithya Group Inc. Alithya Consulting Inc., Systemware Innovation Corporation and Pro2p Services Conseils Inc.
(the “Borrowers”). 
 Modifications: The Agreement is hereby modified as follows: 

Operating credit 
  

			
	Credit limit:	  	$25,000,000
		
		  	This limit is shared between Alithya Group Inc., Alithya Consulting Inc., Systemware Innovation Corporation and Pro2p Services Conseils Inc.
		
	Basis of Borrowing:	  	Notwithstanding the limit of this credit specified above, the outstanding amount of Canadian dollar loans and US dollar loans under this Letter and the outstanding amount of Acceptances under the Letter of Credit. of documentary
credit and the total amount of the outstanding balance of letters of credit issued and outstanding under demand credit for standby letters of credit plus the outstanding balance of all payments made under such letters of credit must never
exceed:
		
		  	(i) 85% of the Value of Government Accounts receivable, up to 120 days, plus
		
		  	(ii) 80% of the Value of the designated accounts receivable, such as financial institutions and/or listed companies holding a high investment grade rating up to a maximum of 90 days, plus
		
		  	(iii) 75% of the Value of Eligible Accounts Receivable up to a maximum of 90 days,
		
		  	(iv) net of all Priority Claims.

			
		
	Purpose:	  	All amounts obtained under this Letter shall be used for expenses incurred in the normal course of business of the Borrower and its wholly-owned Subsidiaries that have secured this credit.
		
	Description and rates:	  	Revolving credit, available as follows:
		
		  	 •   loans in Canadian dollars, also available by way of
overdrafts;

		
		  	 Interest on loans in Canadian dollars is calculated at prime rate plus 1.35% per annum;

		
		  	 •   loans in US dollars, also available by way of overdrafts;

		
		  	 Interest on loans in US dollars is calculated at the rate of US base plus 1.35% per annum.

	
	Securities
		
		  	The following Securities, the form and content of which must be satisfactory to CIBC, are required to secure all obligations, present and future, of the Borrower to CIBC and the CIBC Group Members, respectively (including the
holding of any foreign exchange derivative instrument). In these Securities, all references to obligations, present and future, of the Borrower to CIBC shall be deemed to be references to present and future obligations of the Borrower towards CIBC
and the Members of its Group, respectively.
		
		  	Alithya Group Inc., Alithya Consulting Inc, Systemwarc Innovation Corporation and Pro2p Consulting Services Inc. (the “Guarantors”) cross-corporate endorsement with respect to all of the obligations towards CIBC,
by
		
		  	 •   First movable hypothecs in the amount of $ 40,000,000 on the
universality of movable property, present and future of Alithya Group Inc., Alithya Consulting Inc., Systemware Innovation Corporation and Pro2p Services Conseils Inc., including all receivables, all inventories, all equipment, all intangible rights
(including intellectual property) and all securities, with the exception of CDAEs, where the first rank is granted to IQ;

		
		  	General Security Agreement of priority rank on all personal property, including accounts receipts, inventories, intangible rights (including the intellectual property), equipment and machinery, present and future subsidiaries of
Alithya Group Inc., Alithya Consulting Inc, Systemware Innovation Corporation and Pro2p Services Conseils Inc. registered in Ontario;

			
		  	Guarantees of the Subsidiaries of Alithya Group-inc., present and future (including but not limited to Alithya Consulting SAS, Alithya Consulting USA Inc.,), hereinafter named
“Guarantors”, with respect to all of the Borrower’s obligations to CIBC;
		
		  	An inter-creditors agreement between CIBC, the subordinate lender, Fonds de Solidarité des Travailleurs du Québec (F.T.Q.) and the Borrower, with a view to clarifying the relative rights of the parties to the latter as
creditors of the Borrower (and/or Guarantors);
		
	Fees	  	
		
	Annual fees:	  	10 basis points of the authorized amount
		
	Change fee:	  	$ 500 fee, or 25 basis points if it is a credit limit increase.
		
	Supervisory fee:	  	$ 250 per month, payable monthly in arrears.

 Confirmation: The Agreement as hereby modified remains in full force. 

CANADIAN IMPERIAL BANK OF COMMERCE 
  

	
	/s/ Jean-Bébastien Houde
	Name: Jean-Bébastien Houde
	Title: Authorized Signatory

  

	
	/s/ David Bouchard
	David Bouchard
	Title: Authorized Signatory

  

	
	/s/ Etienne Lessard
	Étienne Lessard
	Title: Authorized Signatory

 Accepted on August 2, 2017 

2875 boul. Laurier, 
 Suite 1250 

Quebec (Quebec) G1V 4M2 
  

	
	 We hereby acknowledge that we have read the this letter and agree to be bound by the terms and conditions present.

 
 Alithya Group Inc.

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO
	
	/s/ Marc Cantin
	Name: Marc Cantin
	Title: Vice President Legal Affairs and Secretary

 Alithya Consulting Inc. 
  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

  

	
	/s/ Marc Cantin
	Name: Marc Cantin
	Title: Vice President Legal Affairs and Secretary

 Systemware Innovation Corporation 
  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

  

	
	/s/ Marc Cantin
	Name: Marc Cantin
	Title: Vice President Legal Affairs and Secretary

 Pro2p Services Conseils Inc. 
  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

	
	/s/ Marc Cantin
	Name: Marc Cantin
	Title: Vice President Legal Affairs and Secretary

 We hereby acknowledge that we have read the this letter and 

agree to be bound by the terms and conditions present. 
 Alithya
Consulting SAS 
 (the “Guarantors”) 
  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO
	
	/s/ Marc Cantin
	Name: Marc Cantin
	Title: Vice President Legal Affairs and Secretary

 Alithya Consulting USA inc. 

(the “Guarantors”) 
  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO
	
	/s/ Marc Cantin
	Name: Marc Cantin
	Title: Vice President Legal Affairs and Secretary

 Alithya Group Inc. 
 (the
“Guarantors”) 
  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO
	
	/s/ Marc Cantin
	Name: Marc Cantin
	Title: Vice President Legal Affairs and Secretary

 Alithya Consulting Inc. 
 (the
“Guarantors”) 
  

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO

	
	/s/ Marc Cantin
	Name: Marc Cantin
	Title: Vice President Legal Affairs and Secretary

  

	
	 Systemware Innovation Corporation
 (the
“Guarantors”)

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO
	
	/s/ Marc Cantin
	Name: Marc Cantin
	Title: Vice President Legal Affairs and Secretary

  

	
	 Pro2p Services Conseils Inc.
 (the
“Guarantors”)

	
	/s/ Paul Raymond
	Name: Paul Raymond
	Title: President & CEO
	
	/s/ Marc Cantin
	Name: Marc Cantin
	Title: Vice President Legal Affairs and Secretary

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