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FIRST AMENDMENT TO RETAINER AGREEMENT
This First Amendment to Retainer Agreement (this "Amendment") is
entered into as
of October 1, 2005, between PRG-SCHULTZ INTERNATIONAL, INC., a
Georgia
corporation (PRGX) and David A. Cole ("Director").
WHEREAS, PRGX and Director entered into the Retainer Agreement
dated as of July
20, 2005 (the "Agreement") that provided for, among other things,
compensation
to be paid by Director;
WHEREAS, because of the evolution of Director's role since the
execution of the
Agreement, the parties wish to reduce the Director's time
commitment as
non-executive Chairman and revise the amount of the compensation
paid to
Director under the Agreement effective as of October 1, 2005;
NOW, THEREFORE, PRGX and Director agree to amend the Agreement as
follows:
1.
Subparagraph (c) of paragraph 2 of the Agreement is hereby deleted
in
its
entirety and the following new subparagraph (c) of paragraph 2
is
inserted in lieu thereof:
(c) Director acknowledges that the duties described in this
paragraph
2
are expected to require Director's commitment of the equivalent of
two
days
per week of Director's business time and attention during the
first
two
months of the Appointment Period and one day per week thereafter
during
the
Appointment Period. Director further acknowledges that these
duties
may,
at times, require more or less than the time commitment described
in
the
immediately preceding sentence
2.
Subparagraph (a) of paragraph 4 of the Agreement is hereby deleted
in
its
entirety and the following new subparagraph (a) is inserted in
lieu
thereof:
(a) Retainer Fee. On the Effective Date, PRGX shall pay Director
an
initial cash
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