Document:

<PAGE>

                                                                    EXHIBIT 10.1

                           KORN/FERRY INTERNATIONAL

                       AMENDMENT TO EMPLOYMENT AGREEMENT

     This Amendment (this "Amendment") is entered into as of December 1, 2001,
by and between KORN/FERRY INTERNATIONAL, a Delaware corporation with its
principal offices in Los Angeles, California (the "Company"), and PAUL C.
REILLY, an individual ("Executive").

     WHEREAS, the Company and Executive have entered into an Employment
Agreement dated as of May 24, 2001, as supplemented by the letter dated June 6,
2001 (the "Agreement");

     WHEREAS, the Company and Executive desire to amend the Agreement as set
forth herein;

     NOW, THEREFORE, in consideration of the promises and mutual covenants
herein contained, and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, it is mutually agreed by the
parties as follows:

          1.   Fiscal 2002 Bonus.  Section 4(b) of the Agreement is hereby
               -----------------
amended by replacing the last sentence with the following two sentences:

          For the fiscal year ended April 30, 2002, the minimum amount that
     shall be payable to Executive as a cash incentive award under this Section
     shall be $1,000,000, of which $500,000 shall be payable on April 30, 2002
     and $500,000 shall be payable on December 31, 2002. Any such annual cash
     incentive award shall be considered earned only if Executive is employed by
     the Company as of the last day of the fiscal year to which the award
     applies and shall not be dependent on employment thereafter.

          2.   Further Assurances. Each of the Company and Executive agrees to
               ------------------
take promptly all actions necessary, proper or advisable or as the other may
reasonably request to fully carry out the intent and purpose of this Amendment
and the Agreement.

          3.   Agreement.  Except as otherwise provided herein, the Agreement
               ---------
remains in full force and effect.
<PAGE>

     IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the
date first written above.

                                        The Company:

                                        KORN/FERRY INTERNATIONAL

                                        By:  /s/ Peter L. Dunn
                                             -----------------

                                        Name:  Peter L. Dunn
                                               -------------

                                        Title:  General Counsel
                                                ---------------

                                        Executive:

                                        /s/ Paul C. Reilly
                                        ------------------
                                        Paul C. Reilly

                                       2<PAGE>

                                                                    EXHIBIT 10.2

                     [KORN/FERRY INTERNATIONAL LETTERHEAD]

June 6, 2001

Mr. Paul C. Reilly
8301 Tallahassee Dr. N.E.
St. Petersburg, FL 33702

Dear Paul:

As a supplement to the terms and conditions contained in your Employment
Agreement with Korn/Ferry International, this letter adds the following benefits
to your employment package:

1.   Korn/Ferry International (the "Company") will cover any difference between
     the amount you originally paid for your current primary residence plus
     verified capital improvements made since purchase (i.e., your current tax
     basis) and the gross selling price received upon sale of this residence
     provided such sale is in connection with your relocation to the area of the
     Company's corporate headquarters. Any reimbursement provided by the Company
     will be adjusted to reflect the effect of any Federal and state taxes due
     on the reimbursement.

2.   The Company will cover, up to $750,000 gross, any forfeited bonus from your
     current employer, upon reasonable confirmation of the amount of such
     forfeiture.

3.   The Company will cover reasonable legal costs associated with the review of
     your Employment Agreement by your personal legal counsel.

4.   The Company will reimburse you, through the earlier of your permanent
     relocation to corporate headquarters or September 30, 2002, for the
     reasonable costs associated with your personal travel between Los Angeles
     and your primary residence that are not reimbursable as a client or normal
     business expense.

<PAGE>

Paul C. Reilly
June 6, 2001
Page 2

Please call me with any questions regarding these supplemental terms.

Sincerely,

/s/ Gary C. Hourihan

Gary C. Hourihan
Executive Vice President

cc:  Richard Ferry
     Charles Miller<PAGE>

                                                                    EXHIBIT 10.3

                              AMENDMENT NO. 2 TO
                                LOAN AGREEMENT

          This Amendment No. 2 to Loan Agreement (this "Amendment"), dated as of
April 29, 2001, is entered into with reference to the Loan Agreement (as
amended, supplemented or otherwise modified from time to time, the "Loan
Agreement") dated as of October 31, 2000 among Korn/Ferry International a
Delaware corporation ("Borrower"), each lender from time to time a party thereto
(each a "Lender" and collectively, the "Lenders"), Bank of America, N.A., as
Administrative Agent for itself and the other Lenders (in such capacity, the
"Administrative Agent").  Capitalized terms not otherwise defined herein shall
have the meanings set forth in the Loan Agreement.  Section references herein
relate to the Loan Agreement unless otherwise stated.

          The parties hereto hereby agree as follows:

          1.  Section 6.15 - Foreign Subsidiaries. Section 6.15 is hereby
              -----------------------------------  ------------
amended and restated in full to read as follows:

              "6.15  Foreign Subsidiaries.  So long as the conditions set forth
          in Section 8.3 shall not have been satisfied, for each time period set
          forth below, permit the sum of Cash, Cash Equivalents and marketable
          Securities held by the Foreign Subsidiaries, on a cumulative basis, to
          exceed the amount set forth opposite such time period:

                Time Period                             Maximum Permitted
                -----------                             -----------------

          Closing Date through and
          including August 1, 2001                           $ 80,000,000

          August 2, 2001 and thereafter                      $ 45,000,000"

          2.  Section 8.3 - Post Closing Conditions. Each of the parties hereto
              -------------------------------------
hereby agrees that (a) each of the conditions set forth in Section 8.3 of the
                                                           -----------
Loan Agreement shall be satisfied, in form and substance satisfactory to the
Administrative Agent and the Lenders, on or prior to August 1, 2001 and (b) the
failure to satisfy such conditions on or before such date shall constitute an
Event of Default under the Loan Agreement.

          3.   Exhibit B - Compliance Certificate. The Compliance Certificate
               ----------------------------------
attached to the Loan Agreement as Exhibit B is hereby amended and restated in
                                  ---------
full in the form of Annex I attached to this Amendment.
                    -------

          4.   Effectiveness. This Amendment shall become effective on such date
               -------------
as the Administrative Agent shall have received duly executed counterparts of
(a) this Amendment and (b) Annex II attached hereto, each signed by each Party
                           --------
thereto, each of the which shall be in form and substance satisfactory to the
Administrative Agent and the Lenders (the "Effective Date").

                                      -1-
<PAGE>

          5.   Representations and Warranties. Except (i) for representations
               ------------------------------
and warranties which expressly relate to a particular date or which are no
longer true and correct as a result of a change permitted by the Loan Agreement
or the other Loan Documents or (ii) as disclosed by Borrower and approved in
writing by the Requisite Lenders, the Borrower hereby represents and warrants
that each representation and warranty made by Borrower in Article 4 of the Loan
                                                          ---------
Agreement (other than Sections 4.6 and 4.10) are true and correct as of the date
                      ------------     ----
hereof as though such representations and warranties were made on and as of the
date hereof. Without in any way limiting the foregoing, Borrower represents and
warrants to the Administrative Agent and the Lenders that no Default or Event of
Default has occurred and remains continuing or will result from the consents,
waivers, amendments or transactions set forth herein or contemplated hereby.

          6.   Confirmation. In all respects, the terms of the Loan Agent and
               ------------
the other Loan Documents, in each case as amended hereby or by the documents
referenced herein, are hereby confirmed.

          IN WITNESS WHEREOF, Borrower, the Administrative Agreement and the
Lenders have executed this Agreement as of the date first set forth above by
their duly authorized representatives.

                                        KORN/FERRY INTERNATIONAL, a
                                        Delaware corporation

                                        By:    /s/ Elizabeth S.C.S. Murray
                                           -------------------------------------
                                           Name:   Elizabeth S.C.S. Murray
                                           Title:  Executive Vice President &
                                                   Chief Financial Officer

                                        BANK OF AMERICA, N.A., as
                                        Administrative Agent and sole Lender

                                        By:  /s/ David J. Stassel
                                           -------------------------------------
                                           David J. Stassel, Vice President

                                      S-1
<PAGE>

                          ANNEX I TO AMENDMENT NO. 2
                          --------------------------

                                   EXHIBIT B
                                   ---------

                            COMPLIANCE CERTIFICATE
                            ----------------------

                                      I-1
<PAGE>

                          ANNEX II TO AMENDMENT NO. 2
                          ---------------------------

                    CONSENT AND REAFFIRMATION OF GUARANTOR

          The undersigned guarantor hereby consents to the execution, delivery
and performance by Borrower and the Administrative Agent of the foregoing
Amendment No. 2 to Loan Agreement ("Amendment No. 2").  In connection therewith,
the undersigned expressly and knowingly reaffirms its liability under each of
the Loan Documents to which it is a Party and expressly agrees (a) to be and
remain liable under the terms of each such Loan Document and (b) that it has no
defense, offset or counterclaim whatsoever against the Administrative Agent or
the Lenders with respect to any such Loan Document.

          The undersigned further agrees that each Loan Document to which it is
a Party shall remain in full force and effect and is hereby ratified and
confirmed

          The undersigned further agrees that the execution of this Consent and
Reaffirmation of Guarantor is not necessary for the continued validity and
enforceability of any Loan Document to which it is a Party, but is executed to
induce the Administrative Agent and the Lenders to approve of and otherwise
enter into the Amendment No. 2.

          IN WITNESS WHEREOF, the undersigned, intending to be legally bound
hereby, has caused this Consent and Reaffirmation of Guarantor to be executed as
of April 29, 2001.

KORN/FERRY INTERNATIONAL
FUTURESTEP, INC., a Delaware
corporation

By     /s/ Peter L. Dunn
   -----------------------------------
   Name:   Peter Dunn
   Title:  Vice Chair, General Counsel

                                     II-1
<PAGE>

                         ANNEX III TO AMENDMENT NO. 2
                         ----------------------------

                    CONSENT AND REAFFIRMATION OF GUARANTOR

          The undersigned guarantor hereby consents to the execution, delivery
and performance by Borrower and the Administrative Agent of the forgoing
Amendment No. 1 to Loan Agreement ("Amendment No. 1").  In connection therewith,
the undersigned expressly and knowingly reaffirms its liability under each of
the Loan Departments to which it is a Party and expressly agrees (a) to be and
remain liable under the terms of each such Loan Document and (b) that it has no
defense, offset or counterclaim whatsoever against the Administrative Agent or
the Lenders with respect to any such Loan Document

          The undersigned further agrees that each Loan Document to which it is
a Party shall remain in full force and effect and is hereby ratified and
confirmed.

          The undersigned further agrees that the execution of this Consent and
Reaffirmation of Guarantor is not necessary for the continued validity and
enforceability of and Loan Document to which it is a Party, but is executed to
induce the Administrative Agent and the Lenders to approve of and otherwise
enter into the Amendment No. 1.

          IN WITNESS WHEREOF, the undersigned, intending to be legally bound
hereby, has caused this Consent and Reaffirmation of Guarantor to be executed as
of January 30, 2001.

KORN/FERRY INTERNATIONAL
FUTURESTEP, INC., a Delaware
corporation

By     /s/ Peter L. Dunn
   ----------------------------------------
   Name:   Peter L. Dunn
   Title:  Vice Chair, General Counsel

                                     III-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00032-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00032-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00032-of-00352.parquet"}]]