Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO CREDIT AGREEMENT 

THIS FIRST AMENDMENT TO CREDIT AGREEMENT dated as of September 19, 2013 (this “Amendment”), is entered into among
NAVIGANT CONSULTING, INC., a Delaware corporation (the “Company”), NAVIGANT CONSULTING (EUROPE) LIMITED, a corporation organized and existing under the laws of England and Wales (the “U.K. Borrower”), NAVIGANT
CONSULTING LTD., a corporation organized and existing under the laws of the Province of Ontario (the “Canadian Borrower”, and together with the Company, the U.K. Borrower and certain other Foreign Subsidiaries of the Company party
hereto pursuant to Section 2.15 of the Credit Agreement, the “Borrowers” and, each a “Borrower”), the Guarantors identified on the signature pages hereto, the Lenders identified on the signature pages
hereto and BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”). Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Credit Agreement
(defined below). 
 RECITALS 

A. The Borrowers, the Guarantors, the Lenders and the Administrative Agent entered into that certain Credit Agreement, dated as of
May 27, 2011 (as amended and modified from time to time, the “Credit Agreement”). 
 B. The parties hereto have agreed
to amend the Credit Agreement as provided herein. 
 C. In consideration of the agreements hereinafter set forth, and for other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows. 
 AGREEMENT

 1. Amendments. 

(a) Section 1.01. 

(i) The following definitions appearing in Section 1.01 of the Credit Agreement are hereby amended to read as follows:

 “Eurocurrency Base Rate” means: 

(a) for any Interest Period with respect to a Eurocurrency Rate Loan, 

(i) in the case of Eurocurrency Rate Loan denominated in a LIBOR Quoted Currency, the rate per annum equal to the London
Interbank Offered Rate (“LIBOR”) or a comparable or successor rate, which rate is approved by the Administrative Agent, as published on the applicable Reuters screen page (or such other commercially available source providing such
quotations as may be designated by the Administrative Agent from time to time) (in such case, the “LIBOR Rate”) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for
deposits in the relevant currency (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; 

 (ii) in the case of Eurocurrency Rate Loan denominated in Canadian Dollars, the
rate per annum equal to the Canadian Dealer Offered Rate, or a comparable or successor rate which rate is approved by the Administrative Agent, as published on the applicable Reuters screen page (or such other commercially available source providing
such quotations as may be designated by the Administrative Agent from time to time) at or about 10:00a.m. (Toronto, Ontario time) on the Rate Determination Date with a term equivalent to such Interest Period; 

(iii) in the case of any other Eurocurrency Rate Loan denominated in a Non-LIBOR Quoted Currency (other than those
specified above), the rate designated with respect to such Alternative Currency at the time such Alternative Currency is approved by the Administrative Agent and the Lenders pursuant to Section 1.06; and 

(b) for any interest calculation with respect to a Committed Loan or a Swing Line Loan that is a Base Rate Loan on any date,
the rate per annum equal to the LIBOR Rate, at approximately 11:00 a.m., London time determined two Business Days prior to such date for Dollar deposits with a term of one month commencing that day; 

provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection herewith, the approved
rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be applied as
otherwise reasonably determined by the Administrative Agent. The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent have any liability with respect to the administration, submission or any other
matter related to the rates in this definition of “Eurocurrency Base Rate” or with respect to any comparable or successor rate thereto. 

“FATCA” means Sections 1471 through 1474 of the Internal Revenue Code, as of the Closing Date (or any amended
or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the
Internal Revenue Code. 
 “Guarantors” means, collectively, (a) the Company (with respect to the
Foreign Obligations), (b) each Significant Subsidiary of the Company identified as a “Guarantor” on the signature pages hereto, (c) each Person that joins as a Guarantor pursuant to Section 7.12 or otherwise,
(d) with respect to (i) Obligations under any Swap Contract, (ii) Obligations under any Treasury Management Agreement and (iii) any Swap Obligation of a Specified Loan Party (determined before giving effect to Sections
4.01 and 4.08) under the Guaranty, the Company, and (e) the successors and permitted assigns of the foregoing. Notwithstanding the foregoing, Navigant Capital Advisors, LLC shall not be required to become a Guarantor. 

 “Mandatory Cost” means any amount incurred periodically by any
Lender during the term of this Agreement which constitutes fees, costs or charges imposed on lenders generally in the jurisdiction in which such Lender is domiciled, subject to regulation or has its Facility Office by any Governmental Authority.

 “Maturity Date” means September 19, 2018; provided, however, that if such date is not
a Business Day, the Maturity Date shall be the next preceding Business Day. 
 “Obligations” means all
advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption),
absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws
naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. The foregoing shall also include (a) all obligations under any Swap Contract between any Loan Party and any
Lender or Affiliate of a Lender that is permitted to be incurred pursuant to Section 8.03(d) and (b) all obligations under any Treasury Management Agreement between any Loan Party and any Lender or Affiliate of a Lender;
provided, however, that the “Obligations” of a Loan Party shall exclude any Excluded Swap Obligations with respect to such Loan Party. 

“TARGET Day” means any day on which TARGET2 (or, if such payment system ceases to be operative, such other
payment system, if any, determined by the Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro. 

(ii) The following definitions are hereby added to Section 1.01 of the Credit Agreement in the appropriate alphabetical
order to read as follows: 
 “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1
et seq.). 
 “Excluded Swap Obligation” means, with respect to any Loan Party, any Swap Obligation if, and
to the extent that, all or a portion of the Guaranty of such Loan Party of such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act (or the application or official interpretation thereof) by virtue of
such Loan Party’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act (determined after giving effect to Section 4.08 and any and all guarantees of such Loan
Party’s Swap Obligations by other Loan Parties) at the time the Guaranty of such Loan Party becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a Master Agreement governing more than one Swap Contract, such
exclusion shall apply to only the portion of such Swap Obligation that is attributable to Swap Contracts for which such Guaranty is or becomes illegal. 

 “Facility Office” means, with respect to any Lender, the office
through which such Lender will perform its obligations under this Agreement. 
 “LIBOR” has the meaning
specified in the definition of “Eurocurrency Base Rate”. 
 “LIBOR Quoted Currency” means Dollars
and any Alternative Currency for which there is a published LIBOR rate with respect thereto, in each case as long as there is a published LIBOR rate with respect thereto. 

“Master Agreement” has the meaning specified in the definition of “Swap Contract.” 

“Non-LIBOR Quoted Currency” means any currency other than a LIBOR Quoted Currency. 

“Qualified ECP Guarantor” means, at any time, each Loan Party with total assets exceeding $10,000,000 or that
qualifies at such time as an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible contract participant” at such time under Section 1a(18)(A)(v)(II) of the
Commodity Exchange Act. 
 “Rate Determination Date” means two (2) Business Days prior to the
commencement of such Interest Period (or such other day as is generally treated as the rate fixing day by market practice in such interbank market, as determined by the Administrative Agent; provided that to the extent such market practice is
not administratively feasible for the Administrative Agent, such other day as otherwise reasonably determined by the Administrative Agent). 

“Specified Loan Party” has the meaning specified in Section 4.08. 

“Swap Obligation” means with respect to any Loan Party any obligation to pay or perform under any agreement,
contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. 

“TARGET2” means the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which
utilizes a single shared platform and which was launched on November 19, 2007. 
 (b) Section 1.06.
Subsections (a) and (c) of Section 1.06 of the Credit Agreement are hereby amended to read as follows: 

(a) The Company may from time to time request that Revolving Loans be made and/or Letters of Credit be issued in a currency
other than those specifically listed in the definition of “Alternative Currency”; provided that (i) such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and
convertible into Dollars and (ii) such requested currency shall only be a LIBOR Quoted 

 
Currency to the extent that there is published LIBOR rate for such currency. In the case of any such request with respect to the making of Revolving Loans, such request shall be subject to the
approval of the Administrative Agent and the Lenders that would be obligated to make Credit Extensions denominated in such requested currency; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall
be subject to the approval of the Administrative Agent and the L/C Issuer. 
 ******* 

(c) Any failure by a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified
in the preceding sentence shall be deemed to be a refusal by such Lender or the L/C Issuer, as the case may be, to permit Revolving Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all
the Lenders that would be obligated to make Credit Extensions denominated in such requested currency consent to making Revolving Loans in such requested currency and the Administrative Agent and such Lenders reasonably determine that a Eurocurrency
Base Rate is available to be used for such requested currency, the Administrative Agent shall so notify the Company and (i) the Administrative Agent and such Lenders may amend the definition of Eurocurrency Base Rate for any Non-LIBOR Quoted
Currency to the extent necessary to add the applicable Eurocurrency Base Rate for such currency and (ii) to the extent the definition of Eurocurrency Base Rate reflects the appropriate interest rate for such currency or has been amended to
reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be a LIBOR Quoted Currency or a Non-LIBOR Quoted Currency, as applicable, for purposes of any Borrowings of Revolving Loans; and if the
Administrative Agent and the L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Company and (A) the Administrative Agent and the L/C Issuer may amend the definition
of Eurocurrency Base Rate for any Non-LIBOR Quoted Currency to the extent necessary to add the applicable Eurocurrency Base Rate for such currency and (B) to the extent the definition of Eurocurrency Base Rate reflects the appropriate interest
rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be a LIBOR Quoted Currency or a Non-LIBOR Quoted Currency, as applicable, for purposes of any
Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.06, the Administrative Agent shall promptly so notify the Company. Any specified currency of an
Existing Letter of Credit that is neither Dollars nor one of the Alternative Currencies specifically listed in the definition of “Alternative Currency” shall be deemed an Alternative Currency with respect to such Existing Letter of Credit
only. 
 (c) Section 2.09. Clause (i) in Section 2.09(a) of the Credit Agreement is hereby amended to
read as follows: 
 (i) each Eurocurrency Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period
at a rate per annum equal to the sum of the Eurocurrency Rate for such Interest Period plus the Applicable Rate; 

 (d) Section 3.03. Section 3.03 of the Credit Agreement is hereby
amended to read as follows: 
 (a) Committed Loans. If in connection with any request for a Committed Loan that is a
Eurocurrency Rate Loan or a conversion to or continuation thereof, (i) the Administrative Agent determines that (A) deposits (whether in Dollars or an Alternative Currency) are not being offered to banks in the applicable offshore
interbank market for such currency for the applicable amount and Interest Period of such Eurocurrency Rate Loan, or (B) adequate and reasonable means do not exist for determining the Eurocurrency Base Rate for any requested Interest Period with
respect to a proposed Eurocurrency Rate Loan (whether denominated in Dollars or an Alternative Currency) or in connection with an existing or proposed Base Rate Loan (in each case with respect to clause (i), “Impacted Committed
Loans”), or (ii) the Administrative Agent or the Required Lenders determine that for any reason the Eurocurrency Base Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan does not adequately and
fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Company and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Committed Loans that are Eurocurrency
Rate Loans in the affected currency or currencies shall be suspended (to the extent of the affected Eurocurrency Rate Loans or Interest Periods) and (y) in the event of a determination described in the preceding sentence with respect to the
Eurocurrency Base Rate component of the Base Rate, the utilization of the Eurocurrency Base Rate component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (upon the instruction of the Required Lenders)
revokes such notice. Upon receipt of such notice, the Company may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans in the affected currency or currencies or, failing that, will be deemed to have
converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein. 
 (b) Canadian
Loans. If in connection with any request for a Canadian Loan that is a Eurocurrency Rate Loan or a BA Rate Loan or a conversion to or continuation thereof, (i) the Administrative Agent determines that (A) deposits are not being offered
to banks in the applicable interbank market for such currency for the applicable amount and Interest Period of such Canadian Loan or (B) adequate and reasonable means do not exist for determining the Eurocurrency Base Rate or BA Rate for any
requested Interest Period with respect to a proposed Canadian Loan or in connection (the “Impacted Canadian Loans” and collectively with the Impacted Committed Loans, the “Impacted Loans”) or (ii) the
Administrative Agent or the Canadian Lender determine that for any reason the Eurocurrency Base Rate or the BA Rate for any requested Interest Period with respect to a proposed Canadian Loan does not adequately and fairly reflect the cost to
the Canadian Lender of funding such Canadian Loan, the Canadian Lender will promptly so notify the Canadian Borrower and the Administrative Agent. Thereafter, the obligation of the Canadian Lender to make or maintain Eurocurrency Rate Loans or BA
Rate Loans, as applicable, shall be suspended (to the extent of the affected Canadian Loans or Interest Periods) until the Canadian Lender revokes such notice. Upon receipt of such notice, the Canadian Borrower may revoke any pending request for a
Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or BA Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein. 

 (c) Notwithstanding the foregoing, if the Administrative Agent has made the
determination described in clause (a)(i) or (b)(i) of this Section, the Administrative Agent in consultation with the Company and the Required Lenders, may establish an alternative interest rate for the Impacted Loans, in which case, such
alternative rate of interest shall apply with respect to the Impacted Loans until (1) the Administrative Agent revokes the notice delivered with respect to the Impacted Loans under clause (a)(i) or (b)(i) of this Section, (2) the
Administrative Agent or the Required Lenders notify the Company that such alternative interest rate does not adequately and fairly reflect the cost to the Lenders of funding the Impacted Loans, or (3) any Lender determines that any Law has made
it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to such alternative rate of interest or to
determine or charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions on the authority of such Lender to do any of the foregoing and provides the Administrative Agent and the Company written notice
thereof. 
 (e) Section 3.04. Clauses (i) and (iii) of Section 3.04(a) of the Credit
Agreement are hereby amended to read as follows: 
 (i) impose, modify or deem applicable any reserve, special deposit,
compulsory loan, insurance charge, assessment or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by
Section 3.04(e), other than as set forth below) or the L/C Issuer; 
 ****** 

(iii) [reserved]; or 

(f) Section 3.04. A new Section 3.04(e) is hereby added to the Credit Agreement to read as follows:

 (e) Mandatory Costs and Additional Reserve Requirements. If any Lender or L/C Issuer incurs any Mandatory Costs
attributable to the Obligations, then from time to time the Company will pay to such Lender or the L/C Issuer, as the case may be, such Mandatory Costs. Such amount shall be expressed as a percentage rate per annum and shall be payable on the full
amount of the applicable Obligations. The Company shall pay to each Lender, as long as such Lender shall be required to comply with any reserve ratio requirement (excluding any such requirement reflected in the Eurocurrency Reserve Percentage) or
analogous requirement of any central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and
rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be
due and payable on each date on which interest is payable on such Loan, provided the Company shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional costs from such Lender. If a
Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional costs shall be due and payable 10 days from receipt of such notice. 

 (g) Section 4.08. A new Section 4.08 is hereby added to the
Credit Agreement immediately following Section 4.07 of the Credit Agreement to read as follows: 
 4.08 Keepwell.

 Each Loan Party that is a Qualified ECP Guarantor at the time the Guaranty in this Article IV by any Loan Party
that is not then an “eligible contract participant” under the Commodity Exchange Act (a “Specified Loan Party”) becomes effective with respect to any Swap Obligation, hereby jointly and severally, absolutely,
unconditionally and irrevocably undertakes to provide such funds or other support to each Specified Loan Party with respect to such Swap Obligation as may be needed by such Specified Loan Party from time to time to honor all of its obligations under
the Loan Documents in respect of such Swap Obligation (but, in each case, only up to the maximum amount of such liability that can be hereby incurred without rendering such Qualified ECP Guarantor’s obligations and undertakings under this
Article IV voidable under applicable Debtor Relief Laws, and not for any greater amount). The obligations and undertakings of each Qualified ECP Guarantor under this Section shall remain in full force and effect until the Obligations have
been indefeasibly paid and performed in full. Each Loan Party intends this Section to constitute, and this Section shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each Specified Loan Party for
all purposes of the Commodity Exchange Act. 
 (h) Section 9.03. The following sentence is hereby added at the
end of Section 9.03 of the Credit Agreement to read as follows: 
 Excluded Swap Obligations with respect to any Loan
Party shall not be paid with amounts received from such Loan Party or such Loan Party’s assets, but appropriate adjustments shall be made with respect to payments from other Loan Parties to preserve the allocation to Obligations otherwise set
forth above in this Section. 
 (i) Section 11.01. Section 11.01(a)(vi) of the Credit Agreement is hereby
amended to read as follows: 
 (vi) amend Section 1.06 or the definitions of “Alternative Currency”,
“LIBOR Quoted Currency” or “Non-LIBOR Quoted Currency” without the written consent of each Lender that is obligated to make Credit Extensions to the Borrowers in Alternative Currencies; or 

(j) Schedule 1.01A. Schedule 1.01A of the Credit Agreement is hereby deleted. 

2. Effectiveness; Conditions Precedent. This Amendment shall be effective upon satisfaction of the following conditions precedent: 

(a) Receipt by the Administrative Agent of copies of this Amendment duly executed by the Borrowers, the Guarantors and the
Lenders. 
 (b) Receipt by the Administrative Agent of a certificate of a Responsible Officer of the Company, in form and
substance reasonably satisfactory to the Administrative Agent, (i) certifying that the Organization Documents of each Loan Party delivered on the Closing Date have not been amended, supplemented or otherwise modified and remain in full force
and effect as of the date hereof or, if such Organization Documents have changed, attaching copies thereof 

 
and (ii) attaching resolutions of each Loan Party approving and adopting this Amendment, the transactions contemplated herein and authorizing the execution and delivery of this Amendment and
any documents, agreements or certificates related thereto and certifying that such resolutions have not been amended, supplemented or otherwise modified and remain in full force and effect as of the date hereof. 

(c) Receipt by the Administrative Agent of such documents and certifications as the Administrative Agent may reasonably require
to evidence that each Loan Party is duly organized or formed, and is validly existing, in good standing and qualified to engage in business in its state of organization or formation. 

(d) Receipt by the Administrative Agent of opinions of legal counsel to the Loan Parties, in form and substance reasonably
satisfactory to the Administrative Agent. 
 (e) Payment by the Loan Parties (i) to the Administrative Agent, an
amendment fee for the account of each Lender delivering an executed counterpart of this Amendment to the Administrative Agent on or before 5:00 p.m. Central time on September 18, 2013, in an amount equal to 0.10% of such Lender’s Revolving
Commitment and (ii) to the Administrative Agent and MLPFS, all fees due and payable to the Administrative Agent, MLPFS on the date hereof pursuant to the terms of that certain Engagement Letter dated as of August 30, 2013 between MLPFS and
the Company. 
 (f) Payment by the Loan Parties of the reasonable out-of-pocket costs and expenses of the Administrative
Agent, including without limitation, the reasonable fees and expenses of Moore & Van Allen PLLC, incurred in connection with this Amendment, in each case to the extent invoiced in reasonable detail on or prior to the Business Day
immediately preceding the date hereof. 
 3. Ratification of Credit Agreement. Each of the Loan Parties acknowledges and consents to
the terms set forth herein and agrees that this Amendment does not impair, reduce or limit any of its obligations under the Loan Documents, except as expressly amended by this Amendment. This Amendment shall constitute a Loan Document. 

4. Authority/Enforceability. Each Loan Party represents and warrants as follows: 

(a) It has taken all necessary action to authorize the execution, delivery and performance of this Amendment. 

(b) This Amendment has been duly executed and delivered by such Loan Party and constitutes such Loan Party’s legal, valid
and binding obligation, enforceable in accordance with its terms, except as enforceability may be limited by applicable Debtor Relief Laws or by equitable principles relating to enforceability. 

(c) No consent, approval, authorization or order of, or filing, registration or qualification with, any court or Governmental
Authority or third party is required in connection with the execution, delivery or performance by such Loan Party of this Amendment, or, if such consent is required, it has been obtained. 

(d) The execution and delivery of this Amendment does not (i) violate, contravene or conflict with any provision of such
Loan Party’s Organization Documents or (ii) materially violate, contravene or conflict with any Laws applicable to such Loan Party or any of its Subsidiaries. 

 5. Representations and Warranties. Each Loan Party represents and warrants to the Lenders
that after giving effect to this Amendment (a) the representations and warranties set forth in Article VI of the Credit Agreement are true and correct in all material respects as of the date hereof, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date, and (b) no Default exists. 

6. Counterparts. This Amendment 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. Delivery of executed counterparts of this Amendment by facsimile or other secure electronic format shall be effective as an original. 

7. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS. 
 8. Successors and Assigns. This Amendment shall be binding upon
and inure to the benefit of the parties hereto and their respective successors and assigns. 
 9. 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 Amendment. 

10. Severability. If any provision of any of this Amendment 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. 

[remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as
of the date first above written. 
  

							
	COMPANY:	 		 	NAVIGANT CONSULTING, INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	/s/ Lucinda M. Baier
		 		 	Name: Lucinda M. Baier
		 		 	Title: Executive Vice President and Chief Financial Officer
			
	U.K. BORROWER:	 		 	NAVIGANT CONSULTING (EUROPE) LIMITED,
		 		 	a corporation organized and existing under the laws of England and Wales
				
		 		 	By:	 	/s/ Monica M. Weed
		 		 	Name: Monica M. Weed
		 		 	Title: Director
			
	CANADIAN BORROWER:	 		 	NAVIGANT CONSULTING LTD.,
		 		 	a corporation organized and existing under the laws of the Province of Ontario
				
		 		 	By:	 	/s/ Lucinda M. Baier
		 		 	Name: Lucinda M. Baier
		 		 	Title: Vice President
			
	GUARANTORS:	 		 	NAVIGANT ECONOMICS, LLC,
		 		 	a Delaware limited liability company
				
		 		 	By:	 	/s/ David E. Wartner
		 		 	Name: David E. Wartner
		 		 	Title: Vice President
			
		 		 	NCI HEALTHCARE, LLC,
		 		 	a Delaware limited liability company
				
		 		 	By:	 	/s/ David E. Wartner
		 		 	Name: David E. Wartner
		 		 	Title: Vice President

							
	ADMINISTRATIVE AGENT:	 		 	BANK OF AMERICA, N.A.,
		 		 	as Administrative Agent
				
		 		 	By:	 	/s/ Christine Trotter
		 		 	Name: Christine Trotter
		 		 	Title: Assistant Vice President
			
	LENDERS:	 		 	BANK OF AMERICA, N.A.,
		 		 	as a Lender, L/C Issuer, Swing Line Lender and U.K. Swing Line Lender
				
		 		 	By:	 	/s/ Carlos Morales
		 		 	Name: Carlos Morales
		 		 	Title: SVP
			
		 		 	 BANK OF AMERICA, N.A. (CANADA BRANCH),

as Canadian Lender

				
		 		 	By:	 	/s/ Medina Sales de Andrade
		 		 	Name: Medina Sales de Andrade
		 		 	Title: Vice President
			
		 		 	RBS CITIZENS, N.A., as Lender
				
		 		 	By:	 	/s/ R. Michael Newton
		 		 	Name: R. Michael Newton
		 		 	Title: Senior Vice President
			
		 		 	U.S. BANK, NATIONAL ASSOCIATION, as Lender
				
		 		 	By:	 	/s/ Kathleen D. Schurr
		 		 	Name: Kathleen D. Schurr
		 		 	Title: Vice President
			
		 		 	TD BANK, N.A., as Lender
				
		 		 	By:	 	/s/ Mark Hogan
		 		 	Name: Mark Hogan
		 		 	Title: Senior Vice President
			
		 		 	PNC BANK, NATIONAL ASSOCIATION, as Lender
				
		 		 	By:	 	/s/ Patrick Flaherty
		 		 	Name: Patrick Flaherty
		 		 	Title: Vice President

							
		 		 	FIFTH THIRD BANK, as Lender
				
		 		 	By:	 	/s/ S. Bradley McDougall
		 		 	Name: S. Bradley McDougall
		 		 	Title: Vice President
			
		 		 	ASSOCIATED BANK, NATIONAL ASSOCIATION, as Lender
				
		 		 	By:	 	/s/ Brett Miller
		 		 	Name: Brett Miller
		 		 	Title: SVP
			
		 		 	UNION BANK, N.A., as Lender
				
		 		 	By:	 	/s/ Michael Gardner
		 		 	Name: Michael Gardner
		 		 	Title: Vice President
			
		 		 	UNION BANK, CANADA BRANCH, as Lender
				
		 		 	By:	 	/s/ Anne Collins
		 		 	Name: Anne Collins
		 		 	Title: Vice President
			
		 		 	THE NORTHERN TRUST COMPANY, as Lender
				
		 		 	By:	 	/s/ Roger McDougal
		 		 	Name: Roger McDougal
		 		 	Title: Senior Vice PresidentEX-10.1

 Exhibit 10.1 

SECOND LOAN MODIFICATION AGREEMENT 

This Second Loan Modification Agreement (this “Loan Modification Agreement”) is entered into as of September 23, 2013, by and
among (a) SILICON VALLEY BANK, a California corporation, with its principal place of business at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan production office located at 230 West Monroe, Suite 720, Chicago,
Illinois 60606 (“Bank”) and (b) (i) SAGENT PHARMACEUTICALS, INC., a Delaware corporation (“Sagent Delaware”) and (ii) SAGENT PHARMACEUTICALS, a Wyoming corporation (“Sagent Wyoming”;
and together with Sagent Delaware, jointly and severally, individually and collectively, “Borrower”), each with a chief executive office located at 1901 North Roselle Road, Suite 700, Schaumburg, Illinois, 60195. 

1.              DESCRIPTION OF EXISTING INDEBTEDNESS AND
OBLIGATIONS.    Among other indebtedness and obligations which may be owing by Borrower to Bank, Borrower is indebted to Bank pursuant to a loan arrangement dated as of February 13, 2012, evidenced by, among other
documents, a certain Loan and Security Agreement dated as of February 13, 2012, between Borrower and Bank, as amended by a certain First Loan Modification Agreement dated as of May 10, 2012, between Borrower and Bank (as amended, the
“Loan Agreement”). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan Agreement. 

2               DESCRIPTION OF COLLATERAL.    Repayment of
the Obligations is secured by (a) the Collateral as described in the Loan Agreement, and (b) the Intellectual Property Collateral as defined in (i) a certain Intellectual Property Security Agreement dated as of February 13, 2012,
between Sagent Delaware and Bank (the “Delaware IP Agreement”), and (ii) a certain Intellectual Property Security Agreement dated as of February 13, 2012, between Sagent Wyoming and Bank (the “Wyoming IP Agreement”, and
together with the Delaware IP Agreement, the “IP Security Agreements”) (together with any other collateral security granted to Bank, the “Security Documents”). Hereinafter, the Security Documents, together with all other
documents evidencing or securing the Obligations shall be referred to as the “Existing Loan Documents”. 

3.              DESCRIPTION OF CHANGE IN TERMS. 

 

	 	A.	Modifications to Loan Agreement. 

  

	 	1	The Loan Agreement shall be amended by deleting the following text appearing as Section 6.7 thereof (entitled “Financial Covenants”) in its entirety: 

“              6.7      
      Financial Covenants.        Maintain at all times, on a consolidated basis with respect to Borrower and its Subsidiaries: 

(a)            Adjusted Quick
Ratio.        An Adjusted Quick Ratio of at least (i) prior to the occurrence of the Positive Free Cash Flow Event, 1.00 to 1.00, and (ii) on and after the occurrence of the Positive Free Cash
Flow Event, 0.75 to 1.00, to be tested as of the last day of each month; and 

(b)            Free Cash
Flow.        Free Cash Flow of at least (i) ($2,000,000.00) for the calendar quarter ending March 31, 2012, (ii) ($6,500,000.00) for the calendar quarter ending June 30, 2012,
(iii) ($2,000,000.00) for each of the calendar quarters ending September 30, 2012 and December 31, 2012, and (iv) $2,000,000.00 for the calendar quarter ending March 31, 2013, and for each calendar quarter thereafter, to be
tested in each case as of the last day of each calendar quarter.” 
  

	 	    	and inserting in lieu thereof the following: 

  

“              6.7       
     Financial Covenants.        Maintain at all times, on a consolidated basis with respect to Borrower and its Subsidiaries: 

(a)            Adjusted Quick
Ratio.        An Adjusted Quick Ratio of at least 1.00 to 1.00, to be tested as of the last day of each month; and 

  
 1 

(b)            Free Cash
Flow.        Free Cash Flow of at least (i) ($2,000,000.00) for the calendar quarter ending March 31, 2012, (ii) ($6,500,000.00) for the calendar quarter ending June 30, 2012,
(iii) ($2,000,000.00) for each of the calendar quarters ending September 30, 2012 and December 31, 2012, and (iv) $2,000,000.00 for the calendar quarter ending March 31, 2013, to be tested in each case as of the last day of
each calendar quarter. In addition to and without limiting the foregoing, commencing with the first calendar quarter in which Borrower’s Unrestricted Cash is at any time less than Thirty Million Dollars ($30,000,000.00), and continuing with
each calendar quarter thereafter, Borrower shall maintain Free Cash Flow of at least $0.00 for each such calendar quarter, to be tested in each case of as the last day of each calendar quarter.” 

 

	 	2	The Loan Agreement shall be amended by deleting the following definitions appearing alphabetically in Section 13.1 thereof: 

“              “Borrowing Base” is
(a) eighty-five percent (85.0%) of Eligible Accounts, plus (b) the lesser of (i) thirty percent (30.0%) of the value of Borrower’s Eligible Inventory (valued at the lower of cost or wholesale fair market value) or
(ii) Six Million Five Hundred Thousand Dollars ($6,500,000.00), plus (c) the lesser of (i) fifty percent (50%) of aggregate unrestricted and unencumbered cash of Borrower maintained at Bank, and (ii) Ten Million Dollars
($10,000,000.00), in each case (with respect to (a), (b) and (c) above) as reasonably determined by Bank from Borrower’s most recent Borrowing Base Certificate; provided, however, that upon notice to and consultation with Borrower,
Bank may decrease the foregoing amounts or percentages in its reasonable good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, may adversely affect Collateral, and provided further that any
assets or property acquired by Borrower in connection with a Permitted Acquisition shall not be included in the calculation of the Borrowing Base until Bank has performed an inspection of such assets and property, with results satisfactory to Bank
in its sole and absolute discretion.” 

“              “Consolidated EBITDA” shall mean
(a) Net Income, plus (b) Interest Expense, plus (c) to the extent deducted in the calculation of Net Income, depreciation expense and amortization expense, plus (d) income tax expense, plus (e) to the extent deducted from
Net Income, (i) non-cash stock compensation expense and other reasonable add-backs for non-cash items or non-cash losses in joint ventures, in each case for which Borrower has provided written details to Bank and which have been approved by
Bank in writing in its sole and absolute discretion on a case-by-case basis, and (ii) transaction fees, costs and expenses, including legal expenses, in an aggregate amount not exceeding Two Million Dollars ($2,000,000.00) incurred in
connection with the execution and delivery of this Agreement and for retirement and termination of the Existing MidCap Loans.” 

“              “Subsidiary” is, as to any Person,
a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the
happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through
one or more intermediaries, or both, by such Person. Unless the context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower. For the avoidance of doubt, each of Sagent Strides and Kanghong
Sagent (Chengdu) Pharmaceuticals Co., Ltd. is not a “Subsidiary” as of the Effective Date.” 

  
 2 

	 	    	and inserting in lieu thereof the following: 

“              “Borrowing Base” is
(a) eighty-five percent (85.0%) of Eligible Accounts, plus (b) the lesser of (i) fifty percent (50.0%) of the value of Borrower’s Eligible Inventory (valued at the lower of cost or wholesale fair market value) or
(ii) Twenty Million Dollars ($20,000,000.00), in each case (with respect to (a) and (b) above) as reasonably determined by Bank from Borrower’s most recent Borrowing Base Certificate; provided, however, that upon notice to and
consultation with Borrower, Bank may decrease the foregoing amounts or percentages in its reasonable good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, may adversely affect the Collateral,
and provided further that any assets or property acquired by Borrower in connection with a Permitted Acquisition shall not be included in the calculation of the Borrowing Base until Bank has performed an inspection of such assets and property, with
results satisfactory to Bank in its sole and absolute discretion.” 

“              “Consolidated EBITDA” shall mean
(a) Net Income, plus (b) Interest Expense, plus (c) to the extent deducted in the calculation of Net Income, depreciation expense and amortization expense, plus (d) income tax expense, plus (e) to the extent deducted from
Net Income, (i) non-cash stock compensation expense and other reasonable add-backs for non-cash items or non-cash losses in joint ventures, in each case for which Borrower has provided written details to Bank and which have been approved by
Bank in writing in its sole and absolute discretion on a case-by-case basis, and (ii) transaction fees, costs and expenses, including legal expenses, in an aggregate amount not exceeding Two Million Dollars ($2,000,000.00) incurred in
connection with the execution and delivery of this Agreement and for retirement and termination of the Existing MidCap Loans, minus (f) to the extent included in Net Income, (i) non-cash income, and (ii) one-time cash income.”

 “              “Subsidiary” is, as to any
Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of
the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly
through one or more intermediaries, or both, by such Person. Unless the context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower. For the avoidance of doubt, each of Sagent Agila LLC and KSCP
is not a “Subsidiary” as of the Effective Date, but each may become a Subsidiary of Borrower after the Effective Date, including, without limitation, through Borrower’s purchase of additional equity interests in such entity after the
Effective Date to the extent permitted under this Agreement.” 
  

	 	3	The Loan Agreement shall be amended by deleting the following text appearing at the end of the definition entitled “Permitted Investments” appearing alphabetically in Section 13.1 thereof:

“              (e)        
    joint ventures or strategic alliances in the ordinary course of Borrower’s or its Subsidiaries’ business in an aggregate amount not to exceed Twenty-Five Million Dollars ($25,000,000.00) during the term of this
Agreement, provided that at the time of any Investment in such a joint venture or strategic alliance, the sum of (i) the Availability Amount, plus (ii) without duplication of amounts represented in Availability Amount, Borrower’s
consolidated unrestricted and unencumbered cash maintained at Bank or in accounts at another financial institution, provided that any such account maintained at another financial institution is subject to a Control Agreement

  
 3 

 
which is satisfactory to Bank in its sole discretion, and which provides Bank a first priority perfected security interest in such account (less the amount of unrestricted and unencumbered cash
used in the calculation of the Availability Amount), after giving effect to such Investment, is at least Twenty-Five Million Dollars ($25,000,000.00); and 

(f)            other Investments not otherwise permitted by
Section 7.7 not exceeding Five Hundred Thousand Dollars ($500,000.00) in the aggregate outstanding at any time.” 
  

	 	    	and inserting in lieu thereof the following: 

“              (e) the purchase of all of the equity interest of
KSCP (the “KSCP Equity Purchase”) provided that (i) all consideration payable by Borrower in connection with such transaction is paid on or before December 31, 2015 and does not exceed Twenty Five Million Dollars
($25,000,000.00) in the aggregate, (ii) Borrower does not incur any Indebtedness or Liens in connection with such transaction (provided that the inclusion of the Existing KSCP Indebtedness on Borrower’s consolidated balance sheet due to
the KSCP Equity Purchase shall not constitute the incurrence of additional Indebtedness for purposes of this subsection (e)), (iii) no Event of Default exists at the time of such transaction or would result therefrom, and (iv) that at the
time of such transaction and after giving effect to such transaction, the sum of (A) the Availability Amount, plus (B) without duplication of amounts represented in Availability Amount, Borrower’s Unrestricted Cash, is at least
Twenty-Five Million Dollars ($25,000,000.00); 

(f)            provided no Event of Default has occurred or is
continuing or would result therefrom, Investments in KSCP following the KSCP Equity Purchase; 

(g)            provided no Event of Default has occurred or is
continuing or would result therefrom, other joint ventures or strategic alliances in the ordinary course of Borrower’s or its Subsidiaries’ business in an aggregate amount not to exceed (x) prior to the 2013 Effective Date,
Twenty-Five Million Dollars ($25,000,000.00), and (y) on and after the 2013 Effective Date through and including the date of the termination of this Agreement, Twenty Million Dollars ($20,000,000.00), provided that at the time of any Investment
in such a joint venture or strategic alliance, the sum of (i) the Availability Amount, plus (ii) without duplication of amounts represented in Availability Amount, Borrower’s consolidated unrestricted and unencumbered cash maintained
at Bank or in accounts at another financial institution, provided that any such account maintained at another financial institution is subject to a Control Agreement which is satisfactory to Bank in its sole discretion, and which provides Bank a
first priority perfected security interest in such account (less the amount of unrestricted and unencumbered cash used in the calculation of the Availability Amount), after giving effect to such Investment, is at least Twenty-Five Million Dollars
($25,000,000.00); and 
 (h)            provided no Event of
Default has occurred or is continuing or would result therefrom, other Investments not otherwise permitted by Section 7.7 not exceeding Ten Million Dollars ($10,000,000.00) in the aggregate during the term of this Agreement.” 

 

	 	4	The Loan Agreement shall be amended by inserting the following new definitions to alphabetically in Section 13.1 thereof: 

“              “2013 Effective Date” is
September 23, 2013.” 

  
 4 

“              “Existing KSCP Indebtedness” is
Indebtedness of Kanghong Sagent (Chengdu) Pharmaceuticals Co., Ltd. existing as of the 2013 Effective Date, in an aggregate amount not at any time exceeding
[$                    ].” 

“              “KSCP” is Kanghong Sagent
(Chengdu) Pharmaceuticals Co., Ltd.” 

“              “KSCP Equity Purchase” is defined
in the definition entitled “Permitted Investments” appearing alphabetically in Section 13.1.” 

“              “Unrestricted Cash” is
unrestricted and unencumbered cash, cash equivalents or short term investments maintained at Bank or in accounts at another financial institution, provided that any such account maintained at another financial institution is subject to a Control
Agreement which is satisfactory to Bank in its sole discretion, and which provides Bank a first priority perfected security interest in such account.” 
  

	 	5	The Borrowing Base Certificate appearing as Exhibit E to the Loan Agreement is hereby replaced with the Borrowing Base Certificate attached as Exhibit A hereto. All references in the Loan Agreement to the
Borrowing Base Certificate shall hereafter be deemed to refer to Exhibit A hereto. 

  

	 	6	The Compliance Certificate appearing as Exhibit F to the Loan Agreement is hereby replaced with the Compliance Certificate attached as Exhibit B hereto. All references in the Loan Agreement to the
Compliance Certificate shall hereafter be deemed to refer to Exhibit B hereto. 

4.              FEES.    Borrower shall pay to Bank a
modification fee of Twenty Thousand Dollars ($20,000.00) which fee shall be due on the date hereof and shall be deemed fully earned as of the date hereof. Borrower shall reimburse Bank for all legal fees and expenses incurred in connection with this
amendment to the Existing Loan Documents. 
 5.              RATIFICATION OF
PERFECTION CERTIFICATE.    Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate dated as of February 13, 2012 by and among Sagent
Delaware, Sagent Wyoming, and Bank (the “Perfection Certificate”), and acknowledges, confirms and agrees the disclosures and information Borrower provided to Bank in the Perfection Certificate have not changed, as of the date hereof,
except as set forth on Exhibit C attached hereto. 

6.              RATIFICATION OF IP AGREEMENTS.    Borrower
hereby ratifies, confirms and reaffirms, all and singular, the terms and conditions of the IP Security Agreements and acknowledges, confirms and agrees that said IP Security Agreements contains an accurate and complete listing of all Intellectual
Property Collateral as defined in said IP Security Agreement, which shall remain in full force and effect. 

7.              CONSISTENT CHANGES.    The Existing Loan
Documents are hereby amended wherever necessary to reflect the changes described above. 

8.              RATIFICATION OF LOAN DOCUMENTS.    Borrower
hereby ratifies, confirms, and reaffirms all terms and conditions of all security or other collateral granted to Bank, and confirms that the indebtedness secured thereby includes, without limitation, the Obligations. 

9.              NO DEFENSES OF BORROWER.    Borrower hereby
acknowledges and agrees that Borrower has no offsets, defenses, claims, or counterclaims against Bank with respect to the Obligations, or otherwise, and that if Borrower now has, or ever did have, any offsets, defenses, claims, or counterclaims
against Bank, whether known or unknown, at law or in equity, all of them are hereby expressly WAIVED and Borrower hereby RELEASES Bank from any liability thereunder. 

10.            CONTINUING VALIDITY.    Borrower understands and agrees
that in modifying the existing Obligations, Bank is relying upon Borrower’s representations, warranties, and agreements, as set forth in the Existing Loan Documents. Except as expressly modified pursuant to this Loan Modification Agreement, the
terms of the Existing Loan Documents remain unchanged and in full force and effect. Bank’s agreement to modifications to the existing 

  
 5 

 
Obligations pursuant to this Loan Modification Agreement in no way shall obligate Bank to make any future modifications to the Obligations. Nothing in this Loan Modification Agreement shall
constitute a satisfaction of the Obligations. It is the intention of Bank and Borrower to retain as liable parties all makers of Existing Loan Documents, unless the party is expressly released by Bank in writing. No maker will be released by virtue
of this Loan Modification Agreement. 

11.            COUNTERSIGNATURE.    This Loan Modification Agreement
shall become effective only when it shall have been executed by Borrower and Bank. 
 [The remainder of this page is intentionally left
blank] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
date first written above. 
 BORROWER: 
 SAGENT
PHARMACEUTICALS, INC. 
 By        /s/ Jonathon M. Singer 

Name:  Jonathon M. Singer                  
                                         
              

Title: Executive Vice President / Chief Financial Officer          
                                         
                              

SAGENT PHARMACEUTICALS 

By        /s/ Jonathon M. Singer
                                         
                          

Name:   Jonathon M. Singer
                                         
                                        

Title: Executive Vice President / Chief Financial Officer
                                         
                                         
       
 BANK: 
 SILICON
VALLEY BANK     
 By        /s/ Jesse
Meyer                                        
                                       

Name:        Jesse
Meyer                                        
                               

Title:          Vice
President                                       
                                  

  
 7 

 EXHIBIT A 

BORROWING BASE CERTIFICATE 
  

			
	Borrower:	  	Sagent Pharmaceuticals, Inc. and Sagent Pharmaceuticals
	Lender:	  	Silicon Valley Bank
	Commitment Amount:	  	$40,000,000.00

 ACCOUNTS RECEIVABLE 
  

					
	1.  	    	Accounts Receivable (invoiced) Book Value as of
                                	  	$                      
	2.  	    	Additions (please explain on next page)	  	$                      
	3.  	    	Less: Intercompany / Employee / Non-Trade Accounts	  	$                      
	4.  	    	NET TRADE ACCOUNTS RECEIVABLE	  	$                      

ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication) 
  

					
	5.	    	90 Days Past Invoice Date	  	$                      
	6.	    	Credit Balances over 90 Days	  	$                      
	7.	    	Balance of 50% over 90 Day Accounts (cross-age or current affected)	  	$                      
	8.	    	Foreign Account Debtor Accounts (other than Puerto Rico or Canada)	  	$                      
	9.	    	Foreign Invoiced and/or Collected Accounts (other than Puerto Rico or Canada)	  	$                      
	10.	    	Contra/Customer Deposit Accounts	  	$                      
	11.	    	U.S. Government Accounts	  	$                      
	12.	    	Promotion or Demo Accounts; Guaranteed Sale or Consignment Sale Accounts	  	$                      
	13.	    	Accounts with Memo or Pre-Billings	  	$                      
	14.	    	Contract Accounts; Accounts with Progress/Milestone Billings	  	$                      
	15.	    	Accounts for Retainage Billings	  	$                      
	16.	    	Trust / Bonded Accounts	  	$                      
	17.	    	Bill and Hold Accounts	  	$                      
	18.	    	Unbilled Accounts	  	$                      
	19.	    	Non-Trade Accounts (if not already deducted above)	  	$                      
	20.	    	Accounts with Extended Term Invoices (Net 90+)	  	$                      
	21.	    	Chargebacks Accounts / Other Payment Deductions taken by Account Debtors	  	$                      
	22.	    	Product Returns/Exchanges	  	$                      
	23.	    	Disputed Accounts; Insolvent Account Debtor Accounts	  	$                      
	24.	    	Deferred Revenue	  	$                      
	25.	    	Other (please explain on next page)	  	$                      
	26.	    	Concentration Limits	  	$                      
	27.	    	TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS	  	$                      
	28.	    	Eligible Accounts (#4 minus #27)	  	$                      
	29.	    	ELIGIBLE AMOUNT OF ACCOUNTS (85% of #28)	  	$                      

INVENTORY 
  

					
	30.	    	Eligible Inventory Value as of
                                	  	$                      
	31.	    	ELIGIBLE AMOUNT OF INVENTORY (lesser of $20,000,000 and 50% of #30)	  	$                      

BALANCES 
  

					
	32.	    	Maximum Loan Amount	  	$                      
	33.	    	Total Funds Available [Lesser of #32 or (#29 plus #31)]	  	$                      
	34.	    	Present balance owing on Line of Credit	  	$                      
	35.	    	RESERVE POSITION (#33 minus #34)	  	$                      

 [Continued on following page.] 

  
 8 

 Explanatory comments from previous page: 

 
  
  

 
  

 
  

 
 The undersigned represents and warrants that this
is true, complete and correct, and that the information in this Borrowing Base Certificate complies with the representations and warranties in the Loan and Security Agreement between the undersigned and Silicon Valley Bank. 

 

							
		  		  	BANK USE ONLY	  	
	     COMMENTS:
	  		  	Received by:
                                         
               	  	
		  		  	                      AUTHORIZED SIGNER	  	
			 	
		  		  	Date:                               
                                       	  	
	    By:
                                         
           	  		  	Verified:
                                         
                      	  	
	                  Authorized Signer	  		  	                      AUTHORIZED SIGNER	  	
			 	
	    Date:
                                         
        	  		  	Date:                               
                                       	  	
		  		  	Compliance
Status:                    Yes              No	  	

  
 9 

 EXHIBIT B 

COMPLIANCE CERTIFICATE 

Date:                      
                             
  

			
	TO:	 	SILICON VALLEY BANK
	FROM:	 	SAGENT PHARMACEUTICALS, INC. AND SAGENT PHARMACEUTICALS

 The undersigned authorized officer of SAGENT PHARMACEUTICALS, INC. AND SAGENT PHARMACEUTICALS
(jointly and severally, individually and collectively, “Borrower”) certifies that under the terms and conditions of the Loan and Security Agreement among Borrower and Bank (the “Agreement”): 

(1) Borrower is in complete compliance for the period ending _______________ with all required covenants except as noted
below; (2) there are no Events of Default; (3) all representations and warranties in the Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall
not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true,
accurate and complete in all material respects as of such date; (4) Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes,
assessments, deposits and contributions owed by Borrower except as otherwise permitted pursuant to the terms of Section 5.9 of the Agreement; and (5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries
relating to unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Bank. 

Attached are the required documents supporting the certification. The undersigned certifies that these are prepared in
accordance with GAAP (subject, in the case of monthly financial statements, to the absence of footnotes and year-end adjustments) consistently applied from one period to the next except as explained in an accompanying letter or footnotes. The
undersigned acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is
delivered. Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 
 Please
indicate compliance status by circling Yes/No under “Complies” column. 
  

					
	
Reporting Covenant
	 	
Required
	  	
Complies

	 	 	 	  	 
	 Monthly financial statements (together with
Compliance
 Certificate), A/R and A/P Agings, Inventory Reports, and

Borrowing Base Certificate
	 	Monthly within 30 days	  	      Yes    No    
	Annual financial statement (CPA Audited) + CC	 	FYE within 120 days	  	      Yes    No    
	10-Q, 10-K and 8-K	 	Within 5 days after filing with SEC*        	  	      Yes    No    
	Board Projections/Budgets	 	FYE within 30 days and as updated	  	 
	*such documents may be delivered electronically and if so delivered, shall be
deemed to have been delivered on the date on which Borrower posts such documents, or provides a link thereto, on Borrower’s website on the Internet at Borrower’s website address
	
The following is (A) any material change in the composition of the Intellectual Property, (B) the registration of any copyright, including any
subsequent ownership right of Borrower in or to any registered copyright not shown in the IP Security Agreement, and (C) the registration of any patent and/or trademark, including any subsequent ownership right of Borrower in or to any patent
and/or trademark not shown in the IP Security Agreement after the Effective Date
 (if none, state “None”)

 
  

 

							
	 Financial Covenant
	  	
Required
	  	
Actual
	  	
Complies

	 	  	 	  	 	  	 
	
Maintain:
	  	 	  	 	  	 
	 Adjusted Quick
Ratio (tested monthly)
	  	1.00 to 1.00    	  	         to            
 	  	      Yes    No      
	
Free Cash Flow (tested quarterly, upon Unrestricted Cash being

less than $30,000,000.00)
	  	$0.00	  	$                        	  	      Yes    No      

 The following financial covenant analysis and information set forth in Schedule 1 attached
hereto are true and accurate as of the date of this Certificate. 
 The following are the exceptions with respect to the
certification above: (If no exceptions exist, state “No exceptions to note.”) 
  

 
  

 
  

 
  

 
  

			
	SAGENT PHARMACEUTICALS, INC.	 	BANK USE ONLY
	 	 
	 	 	Received by:
                                         
               
	By:
                                         
                                   	 	      AUTHORIZED SIGNER
	 Name:
                                         
                              
	 	Date:                           
                                         
  
	Title:
                                         
                                	 	 
	 	 	Verified:
                                         
                      
	 	 	      AUTHORIZED SIGNER
	SAGENT PHARMACEUTICALS	 	Date:                           
                                         
  
	 	 
	 	 	Compliance
Status:                Yes        No
	By:
                                         
                                   	 	 
	 Name:
                                         
                              
	 	 
	Title:
                                         
                                	 	 
	 	 	 

 Schedule 1 to Compliance Certificate 

Financial Covenants of Borrower 

In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. 

Dated:                         
            
  

	I.	Adjusted Quick Ratio (Section 6.7(a)) 

Required:          1.00 to 1.00 

Actual:                        
       
  

					
	 A.    	 	Aggregate value of Borrower’s consolidated unrestricted and unencumbered cash maintained with Bank or another financial
institution which account is subject to Control Agreement as set forth in the Loan Agreement	  	$              
  
	
 B.     
	 	 Aggregate value of net billed accounts receivable

 
  
	  	
$                

 

	
 C.     
	 	 Quick Assets (the sum of lines A and B)

 
	  	
$                

 

	
 D.     
	 	 Aggregate value of all Obligations of Borrower to Bank

 
	  	
$                

 

	
 E.     
	 	 Aggregate value of liabilities that should, under GAAP, be classified
as liabilities on Borrower’s consolidated balance sheet, including all Indebtedness, and not otherwise reflected in line D above that matures within one (1) year and current portion of subordinated debt

 
	  	
$                

 

	
 F.     
	 	 Current Liabilities (the sum of lines D and E)

 
	  	
$                

 

	
 G.     
	 	 Aggregate value of current portion of all amounts received or
invoiced by Borrower in advance
 of performance under contracts and not yet recognized as revenue

 
	  	
$                

 

	
 H.     
	 	 Line F minus G

 
	  	
$                

 

	 I.    	 	Adjusted Quick Ratio (line C divided by line H)	  	$                

 Is line I equal to or greater than the applicable required amount set forth above? 

                 No, not in
compliance                                        
                                         
    Yes, in compliance 

	II.	Free Cash Flow (Section 6.7(b)) 

Required:          $0.00 upon Unrestricted Cash being less than $30,000,000.00 

Actual:              $          
       
  

					
	  A.     
	  	 Net Income (as defined in the
Agreement)
  
	  	
$                

 

	
 B.     
	  	 Interest Expense (as defined in the Agreement)

 
	  	
$                

 

	 C.    	  	To the extent deducted in the calculation of Net Income, depreciation expense and amortization expense	  	$                
	 D.    	  	Income Tax Expense	  	$                
	 E.    	  	To the extent deducted from Net Income, (i) non-cash stock compensation expense and other reasonable add-backs for non-cash items or non-cash losses in joint
ventures, in each case for which Borrower has provided written details to Bank and which have been approved by Bank in writing in its sole and absolute discretion on a case-by-case basis, and (ii) transaction fees, costs and expenses, including
legal expenses, in an aggregate amount not exceeding Two Million Dollars ($2,000,000.00) incurred in connection with the execution and delivery of this Agreement and for retirement and termination of the Existing MidCap Loans	  	  

$                

	 F.    	  	To the extent included in Net Income, (i) non-cash income, and (ii) one-time cash income	  	$                
	 G.    	  	Consolidated EBITDA (sum of Lines A through E, minus Line F)	  	$                
	 H.    	  	Non-financed Consolidated Capital Expenditures	  	$                
	 I.    	  	any capitalized expenses, including, without limitation, those related to research and development and capitalized software development costs	  	$                
	 J.    	  	Consolidated Free Cash Flow (Line G, minus Line H, Minus Line I)	  	$                

 Is line J equal to or greater than $0.00 if testing is required? 

                 No, not in
compliance                                        
                                         
    Yes, in compliance 

 EXHIBIT C 
  

	1.	The following accounts shall be added to the List of all Deposit and Investment Accounts: 

  

							
	 SVB
	  	Master account	  	3300854187	  	
	 SVB
	  	ZBA to master	  	3300833211	  	
	 SVB
	  	Checking	  	3300845886	  	
	 SVB
	  	Treasury Obligations Fund	  	3300822946	  	

  

	2.	Section 2 (Equity-Related Matters) shall be amended to reflect that Borrower’s last report was filed on April 13, 2012 on Form 14-A.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}]]