On December 10, 2025 Heidrick & Struggles International, Inc. terminated that certain Credit Agreement, dated as of October 26, 2018 (as amended by the First Amendment to Credit Agreement, dated as of July 13, 2021, the Second Amendment to the Credit Agreement, dated as of February 24, 2023 and the Third Amendment to the Credit Agreement, dated as of March 17, 2025, and as further amended, restated, amended and restated, supplemented or otherwise modified prior to the Payoff Date, the ? Credit Agreement?), by and among the Company, Foreign Subsidiary Borrowers (as defined therein) from time to time party thereto, the Subsidiary Guarantors (as defined therein) from time to time party thereto (and, together with the Company and the Foreign Subsidiary Borrowers, collectively, the ? Loan Parties?), the Lenders (as defined therein) from time to time party thereto and Bank of America, N.A. as Administrative Agent (as defined therein).
There were no outstanding borrowings under the Credit Agreement, and no termination penalties were paid as a result of the termination. In connection with such termination, (i) all liabilities, obligations and indebtedness owed by the Company and the other Loan Parties under the Credit Agreement (other than certain customary continuing obligations) were released, discharged and satisfied in full, (ii) all commitments and obligations of the agent and lenders were automatically terminated in full and (iii) all of the security interests, liens and pledges in favor of the Administrative Agent for the benefit of the secured parties under the credit documents, and all guarantees of the obligations under each of the credit documents, in each case were automatically terminated and released.
