Document:

EX-10.2

 Exhibit 10.2 

SEPARATION AND GENERAL RELEASE AGREEMENT 

This SEPARATION AND GENERAL RELEASE AGREEMENT (this “Agreement”) is entered into between Matthew P. Reilly
(“Executive”) and Korn/Ferry International, a Delaware corporation (the “Company”) and is dated as of September 27, 2015 (the “Agreement Date”). Reference is made to that certain letter
agreement, dated May 4, 2015, between Executive and the Company (the “Letter Agreement”). 
 In consideration of the
mutual covenants undertaken and releases contained in this Agreement, Executive and the Company hereby acknowledge and agree as follows: 

1. Separation. The Company and Executive hereby agree that Executive’s last day of employment with the Company shall be
January 31, 2016 or such earlier date as mutually agreed by the parties (the “Separation Date”). The Company and Executive further agree that effective as of the Agreement Date, Executive resigns from his positions as the
Company’s Chief Executive Officer of the Company’s Leadership and Talent Consulting business unit, and that effective as of the Separation Date, Executive shall be deemed to resign from all other positions that Executive may hold as an
officer and/or director of the Company or any of its subsidiaries or affiliates. During the period from the Agreement Date through the Separation Date, Executive shall remain a full-time employee of the Company, and will provide such transition
services as are reasonably requested by the Company’s Chief Executive Officer, with Executive’s current compensation level and benefits as in effect on the Agreement Date. 

2. Separation Pay and Benefits. Notwithstanding Executive’s separation with the Company, and conditioned upon (i) this
Agreement having become irrevocable after the expiration of the Revocation Period (as provided herein), (ii) Executive’s compliance with this Agreement, (iii) Executive’s execution of the general release of claims set forth on
Exhibit A hereto (the “Supplemental Release”) on the Separation Date, and (iv) the Supplemental Release having become effective and irrevocable after the expiration of the Revocation Period (as provided in the Supplemental
Release), the Company shall provide Executive with the following (which payments and benefits Executive would not otherwise be entitled to receive): 

(a) a lump sum cash payment in an amount equal to the unpaid portion, as of the Separation Date, of the $750,000 fiscal year 2016 guaranteed
minimum annual incentive award, payable within thirty (30) days after the Separation Date; 
 (b) a lump sum cash payment in an amount
equal to $50,000, which represents a pro rata portion of the annual cash incentive award in excess of $750,000 that Executive would have received for the 2016 fiscal year (based on the Company’s actual performance through the Agreement Date and
the number of days of Executive’s actual service to the Company during such fiscal year prior to the Agreement Date), payable within thirty (30) days after the Separation Date; 

(c) an amount in cash equal, in the aggregate, to twelve (12) months of Executive’s annual base salary as of the Agreement Date, to
be paid in equal monthly installments over a period of twelve (12) months after the Separation Date (the “Severance Period”); 

  
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 (d) for up to eighteen (18) months after the Separation Date, to the extent Executive and/or
Executive’s covered dependent(s) continue to participate in the Company’s group health plan(s) pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) after the Separation Date and to the extent
permitted by applicable law, the Company will provide reimbursement of COBRA coverage premiums paid by Executive and Executive’s covered dependent(s) so that Executive and Executive’s covered dependent(s) enjoy coverage at the same benefit
level and to the same extent and for the same effective contribution, if any, as participation is available to other executive officers of the Company; and 

(e) immediate accelerated vesting, as of the Separation Date, of 100% of the then unvested portion of the 43,970 time-based restricted stock
units granted to Executive on May 4, 2015 in connection with the commencement of his employment with the Company. 
 Executive and the Company further
agree that effective as of the Agreement Date, Executive hereby forfeits and releases the Company from any claim to the Performance Shares described in the Letter Agreement, which the parties acknowledge have not been granted as of the Agreement
Date and will not be granted in the future. Executive and the Company also agree that effective as of the Agreement Date, the Company hereby forfeits and releases Executive from any claim to reimbursement of the Sign On Award provided for in the
Letter Agreement which the parties acknowledge that Executive has no current or future obligation to the Company to repay any amount of said Award. 

3. No Other Compensation Except for Earned Compensation Through Separation Date and Vested Benefits Under Benefit Plans. 

(a) Executive acknowledges and agrees that as of the Separation Date, except as otherwise expressly provided in this Agreement, Executive
shall not be entitled to receive or be eligible for any payments, severance or sums from the Company under any offer letter, employment agreement, plan or otherwise with respect to Executive’s employment with the Company and/or the termination
of Executive’s employment with the Company (including, without limitation, under the Letter Agreement), and no compensation, severance or other benefits shall accrue beyond the Separation Date; provided, however, that (x) the
Company shall pay Executive all compensation to which he is entitled through the Separation Date according to the Company’s regular payroll schedule; and (y) Executive will receive such vested benefits as Executive may be entitled to
receive under any benefit plan or program of the Company with respect to which Executive is a participant as of the Separation Date, in accordance with and subject to the terms and conditions of such plans and programs. 

(b) Executive’s coverage under the Company’s medical and dental benefit plans will terminate following the Separation Date in
accordance with terms and conditions of the applicable plans. Executive shall have the option to convert and continue Executive’s medical and dental benefits coverage under COBRA. Information regarding Executive’s medical and dental
benefits continuation rights under COBRA (including costs for such coverage) will be provided to Executive in a separate letter. 
 4.
Reimbursement of Expenses; Offset for Personal Charges on Corporate Credit Cards. Following the Separation Date, Executive shall receive payment from the Company of any expenses properly incurred and owed to Executive under the Company’s
expense reimbursement policy, payable in accordance therewith. To the extent that Executive has any 

  
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unpaid balances from any Company corporate credit card as of the Separation Date which the Company is not required to pay or reimburse under the Company’s business expense policy in effect
as of the Separation Date, Executive hereby authorizes the Company (to the fullest extent permitted by applicable law) to apply and offset any and all such unpaid balances against any sums otherwise payable or reimbursable to Executive, and agrees
to execute any additional forms/documents necessary to allow the Company to do so. 
 5. Surviving Covenants. 

(a) General. Under this Agreement and unless otherwise provided herein, the term “Surviving Covenants” shall mean and
include all of the following: (i) all obligations of Executive under that certain “Agreement to Protect Confidential Information” signed by Executive; (ii) all obligations of Executive under provisions relating to
confidentiality, non-competition and the non-solicitation of clients and employees after termination of employment which are contained in the Letter Agreement; (iii) all obligations of Executive under any and all written policies of the Company
which are expressly binding on the Company’s employees as of the Separation Date after termination of employment; and (iv) all obligations applicable to Executive under any benefit plan or program of the Company with respect to which
Executive is a participant as of the Separation Date, as set forth in such plans and benefits, to the extent such obligations are stated to or otherwise intended to apply after termination of employment. Notwithstanding the forgoing, the Company
hereby agrees that effective as of the Separation Date the term of the non-solicitation of employees covenant set forth under the heading “Business Information and Non-Competition” in the Letter Agreement shall be reduced from two years
following the Separation Date to one year following the Separation Date. Executive acknowledges and agrees that except as set forth in the preceding sentence or as otherwise explicitly agreed in writing by the General Counsel or Chief Human
Resources Officers of the Company, all of the Surviving Covenants shall remain in full force and effect after the execution and delivery of this Agreement and after the Separation Date in accordance with their respective terms. The Company
acknowledges and agrees that Executive had no “clients” during his brief employment with the Company as that term is defined under the third unnumbered paragraph under the heading “Business Information and Non-Competition” in the
Letter Agreement. 
 (b) Non-Disparagement. Executive hereby agrees that in addition to the Surviving Covenants, Executive will not
disparage or ridicule any of the Releasees, or make any remarks or statements that could reasonably be construed as disparaging or ridiculing of any of the Releasees; provided, however, that the foregoing shall not prohibit Executive from giving
truthful testimony in any legal or investigative proceeding pending before any agency or court of the United States or state government or in any arbitration proceeding relating to this Agreement. The Company hereby agrees that it will instruct its
named executive officers and members of its Board of Directors not to disparage or ridicule Executive, or make any remarks or statements that could reasonably be construed as disparaging or ridiculing of Executive; provided, however, that the
foregoing shall not prohibit any individual from giving truthful testimony in any legal or investigative proceeding pending before any agency or court of the United States or state government or in any arbitration proceeding relating to this
Agreement 
 (c) Remedies. If Executive breaches any of Surviving Covenants, then the Company will have the right to seek injunctive
relief. Executive acknowledges that such a breach of the Surviving Covenants could cause irreparable injury and that money damages may not provide an adequate remedy for the Company. Nothing contained herein will prevent Executive from

  
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contesting any such action by the Company, among other reasons, on the ground that no violation or threatened violation of the Surviving Covenants has occurred. In addition, if the Company
reasonably believes that Executive has breached any of the Surviving Covenants, then the Company shall be permitted, on 15 days’ notice, to cease the payments and benefits described in Section 2 and Executive shall have no right to
any future payments from the Company pursuant to Section 2 (or otherwise) following any such breach; provided, however, that following such cessation, the Company and Executive agree to promptly enter into good faith mediation to resolve any
dispute regarding the occurrence of any such breach. Executive agrees to notify the Company of each employment or consulting engagement he accepts during the Severance Period (including the name and address of the hiring party) and will, upon
request by the Company, describe in reasonable detail the nature of his duties in each such position. 
 6. Compliance with Agreement;
Return of Property. Executive acknowledges and agrees that as a condition precedent to the payment of the payments and benefits described in Section 2, from the Agreement Date through each applicable payment date, (a) Executive
must comply and remain in compliance with all of Executive’s obligations under this Agreement and all of Executive’s obligations under the Surviving Covenants; and (b) by the Separation Date, must return to the Company all Company
documents (whether prepared by the Company, the Company’s affiliates, Executive, or a third party) in any form including, but not limited to, electronic, digital, and paper form (and all copies thereof) and other Company property which
Executive has had in Executive’s possession or under Executive’s control. Executive agrees not to keep any Company documents in Executive’s possession or under Executive’s control, re-create any Company documents, or deliver
any Company documents to any third party. The items that fall within the scope of this Section 6 are defined broadly to include, but are not limited to, any materials relating to the Company or any of its subsidiaries or affiliates
or any of their businesses or property, including, but not limited to, files, notes, drawings, charts, graphs, lists, databases, database entries or reports (including any entries, information, or reports from the Searcher database), compilations of
information, records, business plans and forecasts, financial information, specifications, computer-recorded information, tangible property (including, but not limited to, computers, personal digital assistants, mobile telephones, electronic storage
devices, credit cards, entry cards, identification badges and keys); and any materials of any kind which contain or embody any proprietary or confidential information of the Company (and all reproductions thereof). Executive represents and
warrants that Executive has not retained, or delivered to any person or entity (including Executive by means of a Company or personal or other non-Company e-mail account owned or used by Executive), copies of any items that fall within the scope of
this Section 6 or permitted any copies of such materials to be made by any other person or entity. 
 7. Cooperation.
Executive will cooperate with the Company following the Separation Date through the Severance Period by making himself reasonably available to the Company or any affiliate in connection with any internal or external investigation as well as any
action, suit, or proceeding, whether civil, criminal, administrative, or investigative, and to reasonably assist the Company or any such affiliate in any such action, suit, or proceeding including by providing information and meeting and consulting
with the Board of Directors of the Company or its representatives or counsel, or representatives or counsel to the Company or any such affiliate, as reasonably requested by the Company. The Company will reimburse Executive for all expenses
reasonably incurred by Executive in connection with Executive’s provision of such assistance (including the fees of any counsel that may be retained by Executive). In addition, during the Severance Period, Executive shall provide all assistance
reasonably requested by the Company relating to the transition of his former duties and responsibilities. 

  
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 8. General Release. Except for those obligations of Company under this Agreement,
Executive, on behalf of Executive and Executive’s dependents, successors, heirs, assigns, agents, and executors (collectively, the “Releasors”), hereby releases and discharges and covenants not to sue, to the maximum extent
permitted by law, the Company and its predecessors, successors, subsidiaries, parents, branches, divisions, and other affiliates, and each of their current and former directors, officers, employees, shareholders, representatives, attorneys,
successors and assignees, past and present, and each of them (individually and collectively, “Releasees”) from and with respect to any and all claims, wages, agreements, obligations, demands and causes of action, known or unknown,
suspected or unsuspected, concealed or hidden (collectively, “Claims”), of any kind whatsoever, including, without limitation, any Claims arising out of or in any way connected with Executive’s employment relationship with or
separation from, Company, any Claims for severance pay, bonus or similar benefit, sick leave, pension, retirement, vacation pay, life insurance, health or medical insurance or any other fringe benefit, any benefits arising from any ERISA benefit
plan, workers’ compensation or disability, and any other Claims resulting from any act or omission by or on the part of Releasees committed or omitted prior to the Separation Date, including by way of example only, any Claims under Title VII of
the Civil Rights Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act, and the rules and regulations promulgated thereunder (“ADEA”), the
Family and Medical Leave Act, the California Fair Employment and Housing Act, or any other federal, state or local law, regulation or ordinance. This release does not prevent Executive from filing a charge with or participating in an investigation
by a governmental administrative agency; provided, however, that Executive waives any right to receive any monetary award resulting from such a charge or investigation, including, without limitation, interest, penalties, fines, and attorneys’
fees. 
 9. ADEA Waiver. Executive expressly acknowledges and agrees that, by entering into this Agreement, Executive is knowingly
and voluntarily waiving any and all rights or claims that Executive may have arising under the ADEA, which have arisen on or before the effective date of the Agreement. Executive further expressly acknowledges and agrees that: 

(a) in return for the releases provided for in this Agreement, Executive will receive value beyond that which Executive was already entitled
to receive before entering into this Agreement; 
 (b) Executive was advised in writing by this Agreement to consult with an attorney before
signing this Agreement; 
 (c) Executive has been given a period of 21 days within which to consider this Agreement before signing it, and
that in the event Executive executes the Agreement before the full 21 days, Executive does so knowingly and voluntarily and with the intention of waiving any remaining time in that 21 day period; and 

(d) Executive was informed that he has seven days following the date of his execution of this Agreement in which to revoke the Agreement (the
“Revocation Period”). This Agreement shall not become effective or enforceable until the Revocation Period has expired and Executive has not revoked the Agreement. To be effective, such revocation must be in writing and hand
delivered to the persons identified in Section 11 below within the Revocation Period. 

  
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 Nothing herein shall prevent Executive from seeking a judicial determination as to the validity of the release
provided in this Agreement, with regard to age discrimination claims consistent with the ADEA. 
 10. No Claims Assigned or Filed.
Executive represents and warrants that Executive has not assigned or transferred to any person, firm or non-governmental entity not a party to this Agreement any of the Claims released pursuant this Agreement. Executive further represents and
warrants that neither Executive nor any person, firm or entity acting on Executive’s behalf or for Executive’s benefit has filed any complaints, charges, or lawsuits with any court or government agency, or commenced any arbitration
proceeding, relating to any of the Claims released pursuant to this Agreement. 
 11. Notices. Any notices, requests, or other
communications provided for by this Agreement shall be in writing and shall be deemed to have been given at the time when mailed by Federal Express or overnight delivery, return receipt requested, and addressed to the address of the respective party
stated below or to such changed address as such party may have fixed by like notice similarly given: 
  

			
	 To Company:
	  	 Jonathan Kuai
 General Counsel and Corporate
Secretary
 Korn/Ferry International
 1900 Avenue of the
Stars
 Suite 2600
 Los Angeles, California 90067

		
	 To Executive:
	  	 Matthew P. Reilly
 [_]

 12. Application of Section 409A. Notwithstanding any inconsistent provision of this Agreement, to
the extent the Company determines in good faith that (i) one or more of the payments or benefits received or to be received by Executive pursuant to this Agreement in connection with Executive’s termination of employment would constitute
deferred compensation subject to the rules of Internal Revenue Code Section 409A (“Section 409A”), and (ii) that Executive is a “specified employee” under Section 409A, then only to the extent required to
avoid Executive’s incurrence of any additional tax or interest under Section 409A, such payment or benefit will be delayed until the date which is six (6) months after Executive’s “separation from service” within the
meaning of Section 409A. The Company and Executive agree to negotiate in good faith to reform any provisions of this Agreement to maintain to the maximum extent practicable the original intent of the applicable provisions without violating the
provisions of Section 409A, if the Company deems such reformation necessary or advisable pursuant to guidance under Section 409A to avoid the incurrence of any such interest and penalties. Such reformation shall not result in a reduction
of the aggregate amount of payments or benefits under this Agreement, nor the obligation of the Company to pay interest on any payments delayed for the purposes of avoiding a violation of Section 409A. 

13. Miscellaneous. This Agreement shall be governed by, interpreted under and enforced, in accordance with the laws of the State of
Georgia, excluding such state’s conflict of laws principles. Any legal action, suit or proceeding arising out of or relating to this Agreement 

  
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shall only be instituted, heard and adjudicated in a state or federal court located in the State of Georgia, and each party hereto knowingly, voluntarily and intentionally waives any objection
which such party may now or hereafter have to the laying of the venue of any such action, suit or proceeding, and irrevocably submits to the exclusive personal jurisdiction of any such court in any such action, suit or proceeding. If any provision
of this Agreement or its application is held invalid, the invalidity shall not affect other provisions or applications of the Agreement which can be given effect without the invalid provisions or application and, therefore, the provisions of this
Agreement are declared to be severable. In addition, should any court of competent jurisdiction determine that any provision of this Agreement is unenforceable, the parties agree that the court should modify the provision to the minimum extent
necessary to render said provision enforceable. This Agreement and the attached exhibits constitute the entire Agreement of the parties and supersedes all prior negotiations and all agreements, whether written or oral. For the avoidance of doubt,
Executive shall remain subject to the Korn/Ferry International Clawback Policy. This Agreement may be modified only by a writing signed by all of the parties to this Agreement. No waiver of any provision in this Agreement shall be binding unless in
writing and signed by the party waiving the breach. No waiver of any breach of any term or provision of this Agreement shall be construed to be, or shall be, a waiver of any other breach of this Agreement. This Agreement is binding on and
enforceable against the heirs, successors and assigns of Executive and the Company. This Agreement is not and shall not be construed as an indication that the Company or Executive may have engaged in any wrongful conduct. This Agreement may be
executed in counterparts, and each counterpart, when executed, shall have the efficacy of a signed original. Photographic and facsimile copies of such signed counterparts may be used in lieu of the originals for any purpose. 

14. Agreement Freely Entered Into. Executive has read and understands this Agreement and voluntarily signs it without coercion,
acknowledging that the benefits described in this Agreement are adequate and the only consideration for this Agreement. Executive confirms that no promise or inducement not contained herein has been offered or made to cause Executive to sign this
Agreement. Executive also acknowledges that the Company has advised Executive that Executive has the right and opportunity to have Executive’s own legal counsel review this Agreement and represent Executive in connection with this Agreement,
and that the Company has also recommended that Executive so engage Executive’s own legal counsel in connection with this Agreement. If Executive has elected not to engage Executive’s own legal counsel in connection with this Agreement,
Executive acknowledges, represents and warrants that such election was made by Executive alone, in Executive’s discretion, and without any coercion or pressure from the Company. The undersigned Executive declares under penalty of perjury that
the foregoing is true and correct. 
 EXECUTED as of 28 September, 2015. 

 

							
	KORN/FERRY INTERNATIONAL	 	EXECUTIVE
				
	 By:
	 	 /s/ Jonathan Kuai
	  		 	/s/ Matthew P. Reilly
		 		  		 	Matthew P. Reilly
	 Its:
	 	 General Counsel
	  		 	

  
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 ACKNOWLEDGMENT AND WAIVER 

I, Matthew P. Reilly, hereby acknowledge that I was given 21 days to consider the foregoing Agreement and voluntarily chose to sign the Agreement prior to the
expiration of the 21-day period. 
 I declare under penalty of perjury under the laws of the State of Georgia that the foregoing is true and correct. 

EXECUTED on 28 September, 2015. 
  

	
	 /s/ Matthew P. Reilly

	 Matthew P. Reilly

  
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 Exhibit A – Supplemental Release 

I, Matthew P. Reilly, in consideration of and subject to the performance by Korn/Ferry International (the “Company”), of its
obligations under Section 2 of that certain Separation and General Release Agreement between the Company and myself, dated as of September __, 2015 (the “Separation Agreement”), on behalf of myself and my dependents,
successors, heirs, assigns, agents, and executors (collectively, the “Releasors”), hereby release and discharge and covenant not to sue, to the maximum extent permitted by law, the Company and its predecessors, successors,
subsidiaries, parents, branches, divisions, and other affiliates, and each of their current and former directors, officers, employees, shareholders, representatives, attorneys, successors and assignees, past and present, and each of them
(individually and collectively, “Releasees”) to the extent provided below. 
  

	1.	I understand that the separation benefits payable to me under Section 2 of the Separation Agreement represent, in part, consideration for signing this Supplemental Release and are not salary, wages or benefits to
which I was already entitled. I understand and agree that I will not receive the benefits specified in Section 2 of the Separation Agreement otherwise due to me unless I execute this Supplemental Release and do not revoke this Supplemental
Release within the time period permitted hereafter or breach this Supplemental Release. I also acknowledge and represent that I have received all payments and benefits that I am entitled to receive (as of the date hereof) by virtue of any employment
by the Company. 

  

	2.	I knowingly and voluntarily (for myself and the Releasors) hereby release and discharge and covenant not to sue, to the maximum extent permitted by law, the Company and each of the Releasees from and with respect to any
and all claims, wages, agreements, obligations, demands and causes of action, known or unknown, suspected or unsuspected, concealed or hidden (collectively, “Claims”), of any kind whatsoever, including, without limitation, any
Claims arising out of or in any way connected with my employment relationship with or separation from, Company, any Claims for severance pay, bonus or similar benefit, sick leave, pension, retirement, vacation pay, life insurance, health or medical
insurance or any other fringe benefit, any benefits arising from any ERISA benefit plan, workers’ compensation or disability, and any other Claims resulting from any act or omission by or on the part of Releasees committed or omitted prior to
the Separation Date, including by way of example only, any Claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act,
and the rules and regulations promulgated thereunder (“ADEA”), the Family and Medical Leave Act, the California Fair Employment and Housing Act, or any other federal, state or local law, regulation or ordinance. This release does
not prevent me from filing a charge with or participating in an investigation by a governmental administrative agency; provided, however, that I waive any right to receive any monetary award resulting from such a charge or investigation, including,
without limitation, interest, penalties, fines, and attorneys’ fees. 

  

	3.	I expressly acknowledge and agree that, by entering into this Supplemental Release, I am knowingly and voluntarily waiving any and all rights or claims that I may have arising under the ADEA, which have arisen on or
before the effective date of this Supplemental Release. I further expressly acknowledges and agrees that: 

	•	 	in return for the releases provided for in this Supplemental Release, I will receive value beyond that which I was already entitled to receive before entering into this Supplemental Release; 

 

	•	 	I was advised in writing by this Supplemental Release to consult with an attorney before signing this Supplemental Release; 

  

	•	 	I have been given a period of 21 days within which to consider this Supplemental Release before signing it, and that in the event I execute this Supplemental Release before the full 21 days, I do so knowingly and
voluntarily and with the intention of waiving any remaining time in that 21 day period; and 

  

	•	 	I was informed that I have seven days following the date of my execution of this Supplemental Release in which to revoke this Supplemental Release (the “Revocation Period”). This Supplemental Release
shall not become effective or enforceable until the Revocation Period has expired and I have not revoked this Supplemental Release. To be effective, such revocation must be in writing and hand delivered to the persons identified in Section 11
of the Separation Agreement within the Revocation Period. 

  

	4.	Nothing herein shall prevent me from seeking a judicial determination as to the validity of the release provided in this Supplemental Release, with regard to age discrimination claims consistent with the ADEA.

  

	5.	I represent and warrant that I have not assigned or transferred to any person, firm or non-governmental entity not a party to this Supplemental Release any of the Claims released pursuant this Supplemental Release. I
further represent and warrant that neither I nor any person, firm or entity acting on my behalf or for my benefit has filed any complaints, charges, or lawsuits with any court or government agency, or commenced any arbitration proceeding, relating
to any of the Claims released pursuant to this Supplemental Release. 

  

	6.	I agree that neither this Supplemental Release, nor the furnishing of the consideration for this Supplemental Release, shall be deemed or construed at any time to be an admission by the Company, any Released Party or
myself of any improper or unlawful conduct. 

  

							
	 DATE:
	 	27 September 2015	  		 	/s/ Matthew P. Reilly
		 		  		 	Matthew P. ReillyEX-10.3

 Exhibit 10.3 

EXECUTION COPY 
 AMENDMENT NO. 4 TO
CREDIT AGREEMENT 
 This Amendment No. 4 to Credit Agreement (this “Amendment”) dated as of November 20, 2015, is made
by and between KORN/FERRY INTERNATIONAL, a Delaware corporation (“Borrower”) and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”). 

RECITALS 
 This Amendment
is made with reference to the following facts: 
 A. Borrower is currently indebted to Bank pursuant to the terms and conditions of that
certain Credit Agreement between Borrower and Bank dated as of January 18, 2013 (as amended from time to time, the “Credit Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the meanings set forth
for such terms in the Credit Agreement as amended hereby. 
 B. Borrower has requested that Bank agree to amend the Credit Agreement to
provide for Borrower and/or its Subsidiaries to enter into obligations in respect of letters of credit or guarantees issued by other financial institutions on behalf of Borrower and/or its Subsidiaries. Subject to the terms and conditions set forth
herein, Bank is willing to grant such accommodations to Borrower as more specifically set forth below. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the mutual covenants and benefits contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are acknowledged, Borrower and Bank agree as follows: 
 1. AMENDMENTS TO CREDIT AGREEMENT. 

A. Section 1.1 - Definition of Permitted Indebtedness. A new clause
(k) is appended to the definition of “Permitted Indebtedness” contained in Section 1.1 of the Credit Agreement as follows: 

(k) Secured Indebtedness consisting of, arising from or in connection with letters of credit or guarantees issued by other
financial institutions on behalf of Borrower and/or its Subsidiaries in an aggregate amount not at any time exceeding $5,000,000. 

B. Section 1.1 - Definition of Permitted Encumbrance. A new clause
(q) is appended to the definition of “Permitted Encumbrances” contained in Section 1.1 of the Credit Agreement as follows: 

(q) Liens on cash deposits held by and in favor of other financial institutions arising from or in connection with letters of
credit or guarantees issued by such other financial institutions on behalf of Borrower and/or its Subsidiaries permitted by clause (k) of the definition of Permitted Indebtedness. 

 2. MISCELLANEOUS. 

A. Due Execution. Borrower represents and warrants that the execution, delivery and performance of this Amendment and
any instruments, documents or agreements executed in connection herewith are within the powers of Borrower, have been duly authorized by all necessary action, and do not contravene any law or the terms of any organizational document of Borrower,
result in a breach of, or constitute a default under, any material contractual restriction, indenture, trust agreement or other instrument or agreement binding upon Borrower other than such violations, breaches or defaults which are not reasonably
expected to have a Material Adverse Effect. 
 B. Recitals Incorporated. The Recitals set forth above are
incorporated into and are made a part of this Amendment. 
 C. Further Assurances. Borrower, at its sole cost and
expense, agrees to execute and deliver all documents and instruments and to take all other actions as may be required in order to consummate the purposes of this Amendment. 

D. No Third Parties. Except as specifically provided herein, no third party shall be benefited by any of the provisions
of this Amendment; nor shall any such third party have the right to rely in any manner upon any of the terms hereof, and none of the covenants, representations, warranties or agreements herein contained shall run in favor of any third party. 

E. Integration; Interpretation. The parties acknowledge and agree that this Amendment and all documents, instruments
and agreements executed in connection herewith are documents delivered to Bank in connection with the Credit Agreement and are therefore Loan Documents. The Loan Documents, including this Amendment and the documents, instruments and agreements
executed in connection herewith, contain or expressly incorporate by reference the entire agreement of the parties with respect to the matters contemplated herein and supersede all prior negotiations, discussions and correspondence. The Loan
Documents shall not be modified except by written instrument executed by all parties. 
 F. Counterparts and
Execution. This Amendment may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile
transmission, by electronic mail in “portable document format” (“.pdf”), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical
delivery of the paper document bearing an original signature. 
 G. Governing Law. This Amendment shall be governed
by and construed in accordance with the laws of the State of California. 
 H. Non-Impairment of Loan Documents. This
Amendment shall be a part of the Credit Agreement. Except as expressly provided in this Amendment or in any other document, instrument or agreement executed by Bank, all provisions of the Loan Documents shall remain in full force and effect, and
Bank shall continue to have all its rights and remedies under the Loan Documents. 

  
 - 2 - 

 I. No Waiver. Nothing herein shall be deemed a waiver by Bank of any
Default or Event of Default. No delay or omission of Bank to exercise any right, remedy or power under any of the Loan Documents shall impair such right, remedy or power or be construed to be a waiver of any default or an acquiescence therein, and
single or partial exercise of any such right, remedy or power shall not preclude other or further exercise thereof or the exercise of any other right, remedy or power. No waiver of any term, covenant, or condition shall be deemed to waive
Bank’s right to enforce such term, covenant or condition at any other time. 
 J. Successors and Assigns. The
terms of this Amendment shall be binding upon and inure to the benefit of the successors and assigns of the parties to this Amendment. 

K. Costs and Expenses. Borrower agrees to pay, promptly upon Bank’s written demand therefor, all costs and
expenses (including without limitation reasonable outside counsel fees) expended or incurred by Bank in connection with the negotiation, documentation and preparation of this Amendment and any other documents executed in connection herewith, and in
carrying out the terms of this Amendment, whether incurred before or after the effective date hereof. 
 L.
Reaffirmation. Each guarantor party hereto as debtor, guarantor, or in any other similar capacity in which such guarantor acts as a guarantor or an accommodation party under any of the Loan Documents to which it is a party hereby
(i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, and undertakings arising under or pursuant to the Subsidiary Guaranty and (ii) acknowledges and agrees that, subsequent to the execution
and delivery of, and after taking into account and giving effect to, this Amendment, the Subsidiary Guaranty remains in full force and effect as hereby ratified, amended and confirmed. 

[signature page follows] 

  
 - 3 - 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the date first set forth above.

  

									
	BORROWER	 		 	BANK:
			
	 KORN/FERRY INTERNATIONAL,
 a
Delaware corporation
	 		 	 WELLS FARGO BANK,

NATIONAL, ASSOCIATION

					
	By: 	 	/s/ Robert Rozek	 		 	By: 	 	/s/ Sanjna Daphtary
		 	Name: Robert Rozek.	 		 		 	Sanjna Daphtary
		 	Title:   Chief Financial Officer and Treasurer	 		 		 	Senior Vice President

 Acknowledged and agreed by the following Subsidiary Guarantors: 

 

									
	 KORN/FERRY INTERNATIONAL

FUTURESTEP, INC.
	 		 	SENSA SOLUTIONS, INC,
					
	By: 	 	/s/ Robert Rozek	 		 	By:	 	/s/ Wendy Monson
		 	Name: Robert Rozek	 		 		 	Name: Wendy Monson
		 	Title:   President	 		 		 	Title:    President
			
	 KORN FERRY LEADERSHIP
 CONSULTING
CORPORATION
	 		 	
					
	By:	 	/s/ Robert Rozek	 		 		 	
		 	Name: Robert Rozek	 		 		 	
		 	Title:   Chief Executive Officer and President

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