Document:

Exhibit 10.40

 

COMMON STOCK PURCHASE AGREEMENT

 

This Common Stock Purchase
Agreement (this “Agreement”), is entered into as of November 14, 2016, by and between STG Group, Inc.,
a Delaware corporation (the “Company”), and [_____________] (the “Purchaser”).

 

WHEREAS, the Company
is a party to that certain Credit Agreement, dated as of November 21, 2015 (the “Credit Agreement”), by and
among the Company, MC Admin Co LLC and the other parties named therein, and the Company wishes to exercise its equity right under
the Credit Agreement, pursuant to which the Company may sell shares of the Company’s capital stock to potential investors;
and

 

WHEREAS, the Purchaser
desires to purchase, and the Company desires to sell to the Purchaser, shares of the common stock of the Company, par value $0.0001
per share (“Common Stock”), pursuant to the terms and conditions set forth herein.

 

NOW, THEREFORE,
in consideration of the premises, representations, warranties and the mutual covenants contained in this Agreement, and for other
good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree
as follows:

 

1.                 
Stock Purchase. Subject to the terms and conditions contained in this Agreement and concurrently with the
execution of this Agreement by the parties hereto, the Company hereby issues and sells to the Purchaser, and the Purchaser hereby
purchases from the Company (the “Stock Purchase”), [_____________] shares of Common Stock from the Company,
at a purchase price of $3.60 per share (the “Per Share Purchase Price”), for an aggregate purchase price of
$[_____________].

 

2.                 
Deliveries.

 

(a)              
Purchase Price. Concurrently with the execution of this Agreement by the parties hereto, the Purchaser has delivered to
the Company an amount equal to (i) the Per Share Purchase Price, multiplied by (ii) the number of shares of Common
Stock being purchased by the Purchaser.

 

(b)               
Certificates. Concurrently with the execution of this Agreement by the parties hereto, the Company has delivered to American
Stock Transfer & Trust Company, LLC, the Company’s transfer agent, irrevocable instructions to issue to the Purchaser
a certificate evidencing the shares purchased hereby (the “Shares”).

 

(c)               
Legend. Each certificate evidencing the Shares and each certificate issued in exchange for or upon the transfer of any Shares
shall be stamped or otherwise imprinted with a legend in substantially the following form:

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THE
SHARES REPRESENTED BY THIS CERTIFICATE ARE HELD BY AN AFFILIATE OF THE ISSUER AS DEFINED IN RULE 144 PROMULGATED UNDER THE SECURITIES
ACT. THE SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
AS TO THE SECURITIES UNDER SAID ACT OR UNLESS SUCH REGISTRATION IS NOT REQUIRED IN THE OPINION OF COUNSEL FOR THE COMPANY.”

 

     

     

    

 

3.                 
Representations and Warranties of the Purchaser.  The Purchaser represents and warrants to the Company as follows:

 

(a)             Organization
and Good Standing. The Purchaser is a trust, duly organized, validly existing, and in good standing under the laws of the
State of Delaware.

 

(b)           Power
and Authority; Enforceability. This Agreement constitutes the legal, valid, and binding obligation of the Purchaser, enforceable
against the Purchaser in accordance with its terms. The Purchaser has full entity power and authority to execute and deliver this
Agreement and to perform its obligations hereunder. The Purchaser has taken all actions necessary to authorize the execution and
delivery of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated
hereby. This Agreement has been duly authorized, executed and delivered by the Purchaser.

 

(c)          Investment
Representations.

 

(i)           The
Purchaser is an “accredited investor” as defined in Rule 501 of Regulation D under the Securities Act of
1933, as amended (the “Securities Act”).

 

(ii)          The
Purchaser has received, has thoroughly read, is familiar with and understands the contents of this Agreement.

 

(iii)         The
Purchaser hereby acknowledges that an investment in the Shares involves certain significant risks. The Purchaser acknowledges that
there is a substantial risk that it will lose all or a portion of its investment and that it is financially capable of bearing
the risk of such investment for an indefinite period of time. The Purchaser has no need for liquidity in its investment in the
Shares for the foreseeable future and is able to bear the risk of that investment for an indefinite period. The Purchaser’s
present financial condition is such that the Purchaser is under no present or contemplated future need to dispose of any portion
of the Shares purchased hereby to satisfy any existing or contemplated undertaking, need or indebtedness. The Purchaser’s
overall commitment to investments which are not readily marketable is not disproportionate to its net worth and the investment
in the Company will not cause such overall commitment to become excessive.

 

(iv)        The
Purchaser acknowledges that the Shares have not been registered under the Securities Act, or any state securities act, and are
being sold on the basis of exemptions from registration under the Securities Act and applicable state securities acts. Reliance
on such exemptions, where applicable, is predicated in part on the accuracy of the Purchaser’s representations and warranties
set forth herein. The Purchaser acknowledges and hereby agrees that the Shares will not be transferable under any circumstances
unless the Shares are registered in accordance with federal and state securities laws or the Purchaser finds and complies with
an available exemption under such laws. Accordingly, the Purchaser hereby acknowledges that there can be no assurance that it will
be able to liquidate its investment in the Company.

 

(v)         There
are substantial risk factors pertaining to an investment in the Company. The Purchaser acknowledges that it has read the information
set forth above regarding certain of such risks and is familiar with the nature and scope of all such risks, including, without
limitation, risks arising from the fact that the Company is an entity with limited operating history and financial resources; and
the Purchaser is fully able to bear the economic risks of such investment for an indefinite period, and can afford a complete loss
thereof.

 

    	 	2	 

     

    

 

(vi)        The
Purchaser has been given the opportunity to (i) ask questions of and receive answers from the Company and its designated representatives
concerning the terms and conditions of the purchase of the Shares, the Company and the business and financial condition of the
Company and (ii) obtain any additional information that the Company possesses or can acquire without unreasonable effort or
expense that is necessary to assist the Purchaser in evaluating the advisability of the purchase of the Shares and an investment
in the Company. The Purchaser further represents and warrants that, prior to signing this Agreement, it has asked such questions,
received such answers and obtained such information as it has deemed necessary or advisable to evaluate the merits and risks of
the purchase of the Shares and an investment in the Company. The Purchaser is not relying on any oral representation made by any
person as to the Company or its operations, financial condition or prospects.

 

(vii)       The
Purchaser understands that no federal, state or other governmental authority has made any recommendation, findings or determination
relating to the merits of an investment in the Company.

 

(viii)      The
Purchaser acknowledges that neither the Company, nor any of its officers, directors, employees, agents or affiliates has made any
representation or warranty, express or implied, regarding the Company, the Shares or otherwise, other than the representations
and warranties set forth herein.

 

(ix)         The
Purchaser acknowledges its obligations under the Securities Act, and the rules and regulations promulgated thereunder, with respect
to the treatment of non-public information relating to the Company.

 

4.                 
Representations and Warranties of the Company. The Company represents and warrants to the Purchaser as follows:

 

(a)           Organization.
The Company is a corporation duly organized and validly existing under the laws of the State of Delaware.

 

(b)           Power
and Authority; Enforceability. This Agreement constitutes the legal, valid, and binding obligation of the Company, enforceable
against the Company in accordance with its terms. The Company has full power and authority to execute and deliver this Agreement
and to perform its obligations hereunder. The Company has taken all actions necessary to authorize the execution and delivery of
this Agreement, the performance of its obligations hereunder, and the consummation of the transactions contemplated hereby. This
Agreement has been duly authorized, executed, and delivered by the Company.

 

    	 	3	 

     

    

 

(c)           No
Violation; Necessary Approvals. Neither the execution and delivery of this Agreement by the Company, nor the consummation or
performance by the Company of any of the transactions contemplated hereby, will: (i) with or without notice or lapse of time,
constitute, create or result in a breach or violation of, default under, loss of benefit or right under, termination, cancellation,
suspension or modification of, or acceleration of performance of any obligation required under any (A) law (statutory, common
or otherwise), constitution, ordinance, rule, regulation, executive order or other similar authority enacted, adopted, promulgated
or applied by any legislature, agency, bureau, branch, department, division, commission, court, tribunal or other similar recognized
organization or body of any federal, state, county, municipal, local or foreign government or other similar recognized organization
or body exercising similar powers or authority (collectively, “Law”), (B) order, ruling, decision, award, judgment,
injunction or other similar determination or finding by, before or under the supervision of any governmental authority or arbitrator
(collectively, “Order”), (C) contract or agreement, (D) permit, license, certificate, waiver, filing, notice
or authorization (collectively, “Permit”) to which the Company is a party or by which it is bound or any of
its assets are subject, or (E) any provision of the Company’s organizational documents as in effect on the date hereof, (ii) result
in the imposition of any lien, claim or encumbrance upon any assets owned by the Company; (iii) require any consent, approval,
notification, waiver, or other similar action under any contract or agreement or organizational document to which the Company is
a party or by which it is bound (other than the consent of the Investor Parties under the Voting Agreement, dated as of November
23, 2015, by and among the Company and the Investor Parties named therein); or (iv) require any Permit under any Law or Order
other than (A) required filings, if any, with the Securities and Exchange Commission and (B) notifications or other filings
with state or federal regulatory agencies after the date hereof that are necessary or convenient and do not require approval of
the agency as a condition to the validity of the transactions contemplated hereunder; or (v) trigger any rights of first refusal,
preemptive or preferential purchase or similar rights with respect to any of the Shares.

  

(d)           Authorization
of the Shares. The Shares have been duly authorized, and when issued in accordance with this Agreement, will be duly and validly
issued, fully paid and non-assessable and will be free and clear of all liens, claims or encumbrances, other than (A) transfer
restrictions hereunder, (B) transfer restrictions under federal and state securities laws, and (C) liens, claims or encumbrances
imposed due to the actions of the Purchaser.

 

5.                 
General Provisions.

 

(a)           Survival
of Representations and Warranties.  All of the representations and warranties contained herein shall survive the closing
of the transactions contemplated hereby.

 

(b)           Entire
Agreement.  This Agreement, together with any documents, instruments and writings that are delivered pursuant hereto or
referenced herein, constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and
supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent
they relate in any way to the subject matter hereof or the transactions contemplated hereby.

 

(c)           Successors. 
All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding upon, and inure
to the benefit of and are enforceable by, the parties hereto and their respective successors.

 

(d)           Assignments.
Neither party hereto may assign either this Agreement or any of its rights, interests, or obligations hereunder without the prior
written approval of the other party.

 

(e)           Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together
will constitute one and the same instrument.

 

(f)           Headings.
The section headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or
interpretation of this Agreement.

 

(g)           Governing
Law. This Agreement, the entire relationship of the parties hereto, and any litigation between the parties (whether grounded
in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the
laws of the State of Delaware, without giving effect to its choice of laws principles.

 

    	 	4	 

     

    

 

(h)           Waiver
of Jury Trial.  The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to
this Agreement and the transactions contemplated hereby.

 

(i)           Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by
all parties hereto.

 

(j)           Severability.
The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect
the validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to
either party hereto or to any circumstance, is adjudged by a governmental authority, arbitrator, or mediator not to be enforceable
in accordance with its terms, the parties hereto agree that the governmental authority, arbitrator, or mediator making such determination
will have the power to modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to delete
specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced.

 

(k)           Expenses.
Except as otherwise expressly provided in this Agreement or in the definitive documents for the Transaction, each party hereto
will bear its own costs and expenses incurred in connection with the preparation, execution and performance of this Agreement and
the consummation of the transactions contemplated hereby.

 

(l)         Waiver.
No waiver by either party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional
or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder
or affect in any way any rights arising because of any prior or subsequent occurrence.

 

(m)           Further
Assurances. The parties hereto shall execute and deliver such additional documents and take such additional actions as either
party reasonably may deem to be practical and necessary in order to consummate the purchase and sale of Common Stock as contemplated
by this Agreement.

 

[Signature page(s) follow] 

    	 	5	 

     

    

 

IN WITNESS WHEREOF, the undersigned have
executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	STG GROUP, INC.
	 	 
	 	By:
	 	Name:
	 	Title:
	 	 
	 	PURCHASER:
	 	 
	 	By:
	 	Name:
	 	Title:

 

va-484219

 

[Signature Page to Common Stock Purchase
Agreement]Exhibit
10.41

 

EXECUTION
VERSION

 

LIMITED FORBEARANCE TO CREDIT AGREEMENT

 

THIS
LIMITED FORBEARANCE TO CREDIT AGREEMENT(this “Forbearance”) is entered into as of February 24, 2017 by and
among STG GROUP, INC., a Delaware corporation (“Holdings”), STG, INC., a Virginia corporation (the “Administrative
Borrower”), ACCESS SYSTEMS, INCORPORATED, a Virginia corporation (“Access”), STG GROUP HOLDINGS,
INC., a Delaware corporation (“Parent”, and together with Holdings, the Administrative Borrower, and Access,
collectively, the “STG Parties”), the lenders party hereto (the “Required Lenders”), MC
ADMIN CO LLC, a Delaware limited liability company, as administrative agent under the Credit Agreement (as defined below) (in
such capacity, the “Administrative Agent”), and PNC BANK, NATIONAL ASSOCIATION, as collateral agent under the
Credit Agreement (as defined below) (in such capacity, the “Collateral Agent”).

 

RECITALS

 

WHEREAS, Holdings,
the Administrative Borrower, Access, Parent and the Lenders and the Administrative Agent entered into that certain Credit Agreement,
dated as of November 23, 2015 (as it may amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”);

 

WHEREAS, the
Administrative Borrower has informed the Administrative Agent and the Lenders that Holdings and the Borrowers have failed to comply
with the covenants set forth in Section 11.08 through 11.10 of the Credit Agreement as of the last day of the fiscal quarter ending
on December 31, 2016 and such events constitute Events of Default under Section of the Credit Agreement (collectively, the “Financial
Covenant Defaults”);

 

WHEREAS, the
Administrative Borrower has requested that the Administrative Agent and the Lenders forbear from exercising remedies with respect
to the Financial Covenant Defaults for a limited period of time, as provided herein,

 

WHEREAS, the
Administrative Borrower has requested that the Revolving Lenders continue to make Revolving Loans during the forbearance period,
subject to the discretion of the RL Lenders; and

 

WHEREAS, the
Administrative Agent and the Required Lenders (which includes the Majority Lenders with Revolving Loans and/or Revolving Commitments)
are willing to forbear from exercising their rights with respect to the Financial Covenant Defaults on the terms and conditions
set forth herein;

 

NOW THEREFORE,
in consideration of the premises and the mutual agreements set forth, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto hereby agree as follows:

 

1.          Acknowledgment;
Forbearance; No Waiver.

 

(a)          Acknowledgment
of Rights and Remedies. Each STG Party (i) acknowledges that the Financial Covenant Defaults have occurred and (ii) acknowledges
and agrees that but for the terms of this Forbearance, the Administrative Agent and the Lenders may, if they so elect, proceed
to enforce their rights and remedies under the Credit Documents to collect the Obligations owing under the Credit Agreement and
the other Credit Documents.

 

     

     

    

 

(b)          Forbearance.
Subject to all of the terms and conditions set forth herein, the Administrative Agent and the Required Lenders agree to forbear
from exercising their rights and remedies under the Credit Agreement and the other Credit Documents solely with respect to the
Financial Covenant Defaults, until that date (the “Forbearance Termination Date”) which is the earliest to occur
of: (i) the date on which any Event of Default (other than the Financial Covenant Defaults) occurs, including, without limitation,
as a result of any failure to comply with any term set forth in this Forbearance, (ii) the date on which any STG Party makes any
payment or prepayment of any claims that are junior or subordinated to the Obligations, other than as permitted by the Credit Agreement
or with the prior written consent of the Administrative Agent, and (iii) March 31, 2017. As used herein, the term “Forbearance
Period” shall mean the period beginning on the Forbearance Effective Date (as defined below) and ending on the Forbearance
Termination Date.

 

               Each STG Party acknowledges
that on and after the Forbearance Termination Date, the Agent and the Lenders may proceed, in accordance with the terms of the
Credit Agreement and any other Credit Documents, whether with respect to the Financial Covenant Defaults or otherwise, to enforce
any or all of their rights and remedies under or in respect of this Forbearance, the Credit Agreement, any of the other Credit
Documents or applicable law, including, without limitation, the right: (i) to accelerate the Obligations, (ii) to commence any
legal or other action to collect any or all of the Obligations from any or all of the STG Parties and any other person liable therefor
and/or any Collateral, (iii) to foreclose or otherwise realize on any or all of the Collateral and/or as appropriate, set-off or
apply to the payment of any or all of the Obligations, any or all of the Collateral, (iv) to vote equity interests by proxy, (v)
to exercise dominion over cash in deposit accounts, (vi) to take any other enforcement action or otherwise exercise any or all
rights and remedies provided for by any or all of the Credit Agreement, the other Credit Documents or applicable law and (vii)
to reject any subsequent forbearance, financial restructuring or other proposal made by or on behalf of STG Parties, or any of
them, or any creditor or equity holder.

 

(c)          Revolving
Credit Facility. Subject to all of the terms and conditions set forth herein and in the Credit Agreement, the Majority Lenders
with Revolving Loans and/or Revolving Commitments agree that, during the Forbearance Period, the Administrative Borrower may request
Revolving Loans, and the RL Lenders may, but shall not be obligated to, in their sole discretion advance the requested Revolving
Loans; provided that each of the conditions set forth in Section 8 of the Credit Agreement shall be satisfied, other than
Section 8.01 solely as a result of the Financial Covenant Defaults.

 

(d)          Additional
Interest. In connection with the Financial Covenant Defaults, and in consideration of the agreements contained herein, the
STG Parties shall pay to the Administrative Agent (or, at the option of the Administrative Agent, to a designated affiliate of
the Administrative Agent) (for distribution pro rata among the Lenders) additional interest (the “Additional Interest”)
for the period from and including January 1, 2017 (the first day following the occurrence of the Financial Covenant Defaults)
to, but excluding, the earlier of (x) the date on which all Loans are repaid and all Commitments under the Credit Agreement are
terminated or (y) the date on which the Financial Covenant Defaults are waived by the Lenders in their sole discretion, at a rate
per annum equal to 2% on the outstanding amount of the Loans. Additional Interest shall be payable (x) on the Forbearance Effective
Date for the period to, but excluding, the Forbearance Effective Date and (y) thereafter, monthly in arrears.

 

     

     

    

 

(e)          No
Waiver or Amendment. Nothing in this Forbearance, nor any of the Agent’s and the Required Lenders’ entry into this
Forbearance or any of the documents referenced herein, their negotiations with any party with respect to any STG Party, their conduct
of any analysis or investigation of any Collateral for the Obligations or any Credit Document, their acceptance of any payment
from any STG Party or any other party, or any other action or failure to act on the part of the Agent or any Lender, shall (i)
constitute or be construed as a waiver of or acquiescence to the Financial Covenant Defaults, which shall continue in existence
subject only to the agreement of the Agent and the Required Lenders, as set forth herein, not to enforce their remedies for a limited
period of time, (ii) constitute an extension, modification or waiver of, or give rise to any obligation on the part of the Agent
or any Lender to extend, modify or waive, any term, condition or other aspect of the Credit Agreement or the other Credit Documents;
(iii) extend the terms of the Credit Agreement or the due date of any of the Obligations; or (iv) give rise to any defenses or
counterclaims to the right of the Agent and the Lenders to compel payment of the Obligations or to otherwise enforce their rights
and remedies described in the Credit Agreement and the other Credit Documents. Except as expressly limited herein, the Agent and
the Lenders hereby expressly reserves all of their rights and remedies described in the Credit Agreement and the other Credit Documents
that may exist by virtue of the Financial Covenant Defaults, and from and after the Forbearance Termination Date, the Agent and
the Lenders shall be entitled to enforce such rights and remedies according to the original terms of the Credit Documents. This
Forbearance shall not constitute a course of dealing with the Agent or any Lender at variance with the Credit Agreement such as
to require further notice by the Agent or the Lenders to require strict compliance with the terms of the Credit Agreement and the
other Credit Documents in the future. The STG Parties acknowledge and expressly agree that the Agent and the Lenders reserve the
right to, and does in fact, require strict compliance with all terms and provisions of the Credit Agreement and the other Credit
Documents.

 

2.          Defined
Terms. Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Credit
Agreement.

 

3.          Condition
to Effectiveness. This Forbearance shall be effective upon Administrative Agent’s receipt of or satisfaction of the following
conditions (each in form and substance satisfactory to Administrative Agent in its reasonable discretion):

 

(a)          this
Forbearance shall have been duly executed by the STG Parties, the Administrative Agent and the Required Lenders;

 

(b)          the
Fee Letter dated as of the date hereof, by and among the STG Parties and the Administrative Agent, shall have been duly executed
by each of the STG Parties and the Administrative Agent and all fees contemplated thereby shall have been paid; and

 

     

     

    

 

(c)          the
Administrative Borrower shall have paid in full all fees and expenses of DLA Piper LLP (US), counsel to the Administrative Agent,
required to be paid pursuant to the Credit Agreement.

 

The date on which each of the foregoing conditions is
satisfied is referred to herein as the “Forbearance Effective Date”.

 

4.          Representations
and Warranties. In order to induce the Lenders and the Administrative Agent to enter into this Forbearance, each of STG Parties
represents and warrants to the Administrative Agent and the Lenders, that the following statements are true and correct on and
as of the date hereof and as of the Forbearance Effective Date (it being understood and agreed that any representation or warranty
which by its terms is made as of a specified date shall be required to be true and correct in all material respects only as of
such specified date):

 

(a)          Each
STG Party has the corporate power and authority to execute, deliver and perform the terms and provisions of the Forbearance and
has taken all necessary corporate action to authorize the execution, delivery and performance by it of the Forbearance. Each STG
Party has duly executed and delivered the Forbearance, and the Forbearance constitutes its legal, valid and binding obligation
enforceable in accordance with its terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws generally affecting creditors’ rights and by equitable principles
(regardless of whether enforcement is sought in equity or at law);

 

(b)          neither
the execution, delivery or performance by any STG Party of the Forbearance, nor compliance by it with the terms and provisions
thereof, (i) will contravene in any material respects any provision of any law, statute, rule or regulation or any order, writ,
injunction or decree of any court or Governmental Authority, (ii) will conflict in any material respect with or result in any breach
of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition
of (or the obligation to create or impose) any Lien (except pursuant to the Security Documents) upon any of the property or assets
of any STG Party or any of its Subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, credit agreement or
loan agreement, or any other material agreement, contract or instrument, in each case to which any STG Party or any of its Subsidiaries
is a party or by which it or any its property or assets is bound or to which it may be subject, or (iii) will violate any provision
of the certificate or articles of incorporation, certificate of formation, limited liability company agreement or by-laws (or equivalent
organizational documents), as applicable, of any STG Party or any of its Subsidiaries;

 

(c)          after
giving effect to this Forbearance and the transactions contemplated hereby, each of the representations and warranties contained
in the Credit Agreement and the other Credit Documents is true and correct in all material respects (or in all respects if such
representation or warranty contains any materiality qualifier, including references to “material,” “Material
Adverse Effect” or dollar thresholds) on and as of the date hereof (except to the extent that such representation or warranty
expressly relates to an earlier date, in which case such representation or warranty shall be true and correct in all material respects
as of such earlier date); and

 

     

     

    

 

(d)          no
Default or Event of Default shall have occurred and be continuing or would result immediately from the effectiveness of this Forbearance
or the consummation of the transactions contemplated hereby, other than, the Financial Covenant Defaults.

 

5.          Acknowledgment
of Rights: Release of Claims. Each of Holdings, the Administrative Borrower, Access and Parent unconditionally and irrevocably
acquits and fully and forever releases, remises, relieves and discharges and shall be deemed to have forever acquitted, remised,
released and discharged the Administrative Agent and its affiliates and its and their respective past and present partners, members,
subsidiaries, affiliates, officers, employees, agents, attorneys, principals, directors and shareholders and each of their respective
heirs, legal representatives, successors and assigns (collectively, the “Releasees”) on the date hereof from
any and all manner of action and actions, cause and causes of action, (including, without limitation, a claim for contribution),
charge, counterclaim, debt, demand, dues, suit, sum of money, account, reckoning, bond, bill, specialty, covenant, contract, controversy,
damages, judgment, expense, execution, lien, claim of liens, claim of costs, penalties, attorneys’ fees, or any other compensation,
recovery or relief on account of any liability, obligation, demand or cause of action of whatever nature, whether in law, equity
or otherwise (including, without limitation, interest or other carrying costs, penalties, legal, accounting and other professional
fees and expenses, and incidental, consequential and punitive damages payable to any third party), whether known or unknown, fixed
or contingent, joint and/or several, secured or unsecured, due or not due, primary or secondary, liquidated or unliquidated, contractual
or tortious, direct, indirect or derivative, asserted or unasserted, foreseen or unforeseen, suspected or unsuspected, now existing,
heretofore existing or which may heretofore accrue against any or all of the Releasees, whether held in a personal or representative
capacity, and which is based on any act, fact, event or omission or other matter, cause or thing occurring at or from the beginning
of time to and including the date hereof directly or indirectly with respect to, based on, arising out of or in any way related
to this Forbearance, the other Credit Documents or any other related documents, instruments, agreements or matters or the enforcement
or attempted or threatened enforcement by any of the Releasees of any of their respective rights, remedies or recourse related
thereto (collectively, the “Released Claims”). Each of Holdings, the Administrative Borrower, Access and Parent
covenants and agrees never to commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any
of the Releasees any action or other proceeding based upon any of the Released Claims.

 

6.          Reaffirmation.
Each STG Party as borrower, debtor, grantor, pledgor, guarantor, assignor, or in other any other similar capacity in which the
such Party grants liens or security interests in its property or otherwise acts as accommodation party or guarantor, as the case
may be, hereby (i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of
the Credit Documents to which it is a party (after giving effect hereto) and (ii) to the extent such STG Party granted liens on
or security interests in any of its property pursuant to any such Credit Document as security for or otherwise guaranteed Obligations
under or with respect to the Credit Documents, ratifies and reaffirms such guarantee and grant of security interests and liens
and confirms and agrees that such security interests and liens hereafter secure all of the Obligations as amended hereby. Each
STG Party hereby consents to this Forbearance and acknowledges that each of the Credit Documents remains in full force and effect
and is hereby ratified and reaffirmed. The execution of this Forbearance shall not operate as a waiver of any right, power or remedy
of Administrative Agent or the Lenders, constitute a waiver of any provision of any of the Credit Documents or serve to effect
a novation of the Obligations. This Forbearance shall constitute a Credit Document.

 

     

     

    

 

7.          Execution
in Counterparts. This Forbearance may be executed in any number of counterparts and by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one
and the same instrument. A set of counterparts executed by all the parties hereto shall be lodged with the Administrative Borrower
and the Administrative Agent. Delivery of an executed counterpart hereof by facsimile or electronic transmission shall be as effective
as delivery of any original executed counterpart hereof.

 

8.          Entire
Agreement. THIS FORBEARANCE AND THE OTHER CREDIT DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT
BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL
AGREEMENTS AMONG THE PARTIES.

 

9.          Miscellaneous.
Sections 14.04, 14.07, 14.08 and 14.11 of the Credit Agreement are incorporated herein by reference
and are made a part hereof and are applicable to this Forbearance as if fully set forth herein, mutatis mutandis.

 

[Signature Pages Follow}

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused their duly authorized officers to execute and deliver this Forbearance as of the date first above written.

 

	 	STG GROUP, INC., as Holdings
	 	 	 
	 	By:	/s/ Phillip Lacombe
	 	 	Name: Phillip Lacombe
	 	 	Title: President
	 	 	 
	 	STG GROUP HOLDINGS, INC., as Parent
	 	 	 
	 	By:	/s/ Phillip Lacombe
	 	 	Name: Phillip Lacombe
	 	 	Title: President
	 	 	 
	 	STG, INC.
	 	 	 
	 	By:	/s/ Phillip Lacombe
	 	 	Name: Phillip Lacombe
	 	 	Title: President
	 	 	 
	 	ACCESS SYSTEMS, INCORPORATED
	 	 	 
	 	By:	/s/ Phillip Lacombe
	 	 	Name: Phillip Lacombe
	 	 	Title: President
	 	 	 
	 	MC ADMIN CO LLC,

 

     

     

    

 

	 	MC ADMIN CO LLC,
	 	 	as Administrative Agent under the

Credit Agreement
	 	 	 
	 	By:	/s/ Jonathan Tunis
	 	 	Name: Jonathan Tunis
	 	 	Title: Managing Director

 

     

     

    

 

	 	SIGNATURE PAGE TO THE LIMITED

FORBEARANCE TO CREDIT

AGREEMENT DATED AS OF THE

DATE FIRST WRITTEN ABOVE,

AMONG STG GROUP, INC., STG

GROUP HOLDINGS, INC., STG, INC.,

ACCESS SYSTEMS, INCORPORATED,

THE LENDERS PARTY HERETO, MC

ADMIN CO LLC, AS

ADMINISTRATIVE AGENT AND PNC

BANK, NATIONAL ASSOCIATION, AS

COLLATERAL AGENT
	 	 
	 	NAME OF INSTITUTION: 
	 	 
	 	MC CREDIT FUND I LP
	 	 	 
	 	By:	/s/ A. Nayyar
	 	 	Name: 
	 	 	Title:

 

     

     

    

 

	 	SIGNATURE PAGE TO THE LIMITED

FORBEARANCE TO CREDIT AGREEMENT

DATED AS OF THE DATE FIRST

WRITTEN ABOVE, AMONG STG GROUP,

INC., STG GROUP HOLDINGS, INC., STG,

INC., ACCESS SYSTEMS,

INCORPORATED, THE LENDERS PARTY

HERETO, MC ADMIN CO LLC, AS

ADMINISTRATIVE AGENT AND PNC

BANK, NATIONAL ASSOCIATION
	 	 
	 	NAME OF INSTITUTION:
	 	 
	 	MC CREDIT FUND II LP
	 	 	 

	 	By:	/s/ A. Nayyar
	 	 	Name: 
	 	 	Title:

 

     

     

    

 

	 	SIGNATURE PAGE TO THE LIMITED

 FORBEARANCE TO CREDIT

 AGREEMENT DATED AS OF THE DATE

 FIRST WRITTEN ABOVE, AMONG 

GLOBAL DEFENSE & NATIONAL

 SECURITY SYSTEMS, INC., STG

 GROUP, INC., STG, INC., ACCESS

 SYSTEMS, INCORPORATED, THE

 LENDERS PARTY HERETO, MC ADMIN

 CO LLC, AS ADMINISTRATIVE AGENT

 AND PNC BANK, NATIONAL

 ASSOCIATION, AS COLLATERAL

 AGENT
	 	 
	 	NAME OF INSTITUTION:
	 	 
	 	CERBERUS PNC FUNDING LLC
	 	 	 

	 	By:	/s/ Dan Wolf
	 	 	Name: Dan Wolf
	 	 	Title: CEO

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