On October 2, 2015, Hudson Global Inc. and Neil J. Funk, the Vice President, Internal Audit of the company, entered into an Executive Agreement pursuant to which Mr. Funk's employment with the company will cease on October 31, 2015. Until October 31, 2015, Mr. Funk's employment duties and responsibilities, as well as his compensation and benefits, will continue as provided in the Executive Employment Agreement entered into between the company and Mr. Funk on January 26, 2012 and previously filed with the Securities and Exchange Commission, which is superseded by the Separation Agreement. Under the Separation Agreement, Mr. Funk agrees to serve as a consultant to the company in the role of Internal Audit, Enterprise Risk and Controls Consultant from November 1, 2015 through February 28, 2017, subject to extension, provided that Mr. Funk may terminate the Separation Agreement at any time prior to the expiration of the term by providing at least 60 days' advance notice of termination to the company.