<SEC-DOCUMENT>0001193125-16-648299.txt : 20160714
<SEC-HEADER>0001193125-16-648299.hdr.sgml : 20160714
<ACCEPTANCE-DATETIME>20160714163657
ACCESSION NUMBER:		0001193125-16-648299
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160708
ITEM INFORMATION:		Cost Associated with Exit or Disposal Activities
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160714
DATE AS OF CHANGE:		20160714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KORN FERRY INTERNATIONAL
		CENTRAL INDEX KEY:			0000056679
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EMPLOYMENT AGENCIES [7361]
		IRS NUMBER:				952623879
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14505
		FILM NUMBER:		161767721

	BUSINESS ADDRESS:	
		STREET 1:		1900 AVENUE OF THE STARS
		STREET 2:		SUITE 2600
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		3105521834

	MAIL ADDRESS:	
		STREET 1:		1900 AVENUE OF THE STARS
		STREET 2:		SUITE 2600
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d219261d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): July&nbsp;8, 2016 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>KORN/FERRY INTERNATIONAL </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>001-14505</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>95-2623879</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1900 Avenue of the Stars, Suite 2600</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Los Angeles, California</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>90067</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (310)&nbsp;552-1834 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
Name or Former Address, if Changed Since Last Report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;2.05</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Costs Associated with Exit or Disposal Activities. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On July&nbsp;8, 2016, Korn/Ferry
International (the &#147;Company&#148;) adopted a restructuring plan relating to previously disclosed and contemplated actions in respect of the continued integration of HG (Luxembourg) S.a.r.l (&#147;HG Luxco&#148;). The purpose of this plan is to
further rationalize the Company&#146;s cost structure as a result of efficiencies obtained from the integration HG Luxco into the Company. The plan will include the elimination of redundant positions and consolidation of office space. The estimated
cost of the actions contemplated by the plan is between $20 million to $26 million, of which $8 million to $10 million relates to severance and $12 million to $16 million relates to office consolidation and abandonment of premises. These charges are
expected to include approximately $17&nbsp;million to $22&nbsp;million of cash expenditures. The Company expects to recognize these charges during the first quarter of fiscal 2017 and expects the restructuring actions to be completed by
July&nbsp;31, 2016. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing restructuring actions are in addition to the previously disclosed restructuring actions relating to the
integration of HG Luxco. As disclosed in Note 7 to the Company&#146;s unaudited consolidated financial statements included in its Form 10-Q (the &#147;Form 10-Q&#148;) for the quarter ended January&nbsp;31, 2016, during the third quarter of fiscal
2016, the Company implemented its initial restructuring actions with respect to the acquisition of HG Luxco. The purpose of the plan underlying these actions was to rationalize the Company&#146;s cost structure by eliminating redundant positions and
consolidating office space due to the acquisition of HG Luxco. As disclosed in the Form 10-Q, the plan resulted in restructuring charges of $30.6 million in the three months ended January&nbsp;31, 2016, of which $29.9 million related to severance
and $0.7 million related to consolidation and abandonment of premises. These charges included approximately $28.9 million of cash expenditures. This restructuring plan was adopted by the Company on January&nbsp;7, 2016 and the actions were completed
by January&nbsp;31, 2016. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On July&nbsp;8, 2016, the Compensation and Personnel Committee (the &#147;Committee&#148;) of the Board of Directors of the Company approved
the Korn/Ferry International Long Term Performance Unit Plan (the &#147;LTPU Plan&#148;) and Form of Unit Award Agreement for awards thereunder (the &#147;Agreement&#148;). The purpose of the LTPU Plan is to promote the success of the Company by
providing a select group of management and highly compensated employees with nonqualified supplemental retirement benefits as an additional means to attract, motivate and retain such employees. The Company&#146;s named executive officers are
eligible to participate in the LTPU Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Committee may grant cash-based unit awards (the &#147;Unit Awards&#148;) under the LTPU
Plan. Unless a participant terminates employment due to death or disability, or makes an election in accordance with the LTPU Plan, each vested Unit Award will pay out an annual benefit of $25,000 (subject to a potential performance adjustment, as
described below) for each of five years commencing on the seventh anniversary of the grant date. Subject to the terms of the LTPU Plan, participants may elect to have their annual benefits start on a later date and/or pay out in a lower annual
amount over a greater number of years. The Committee may, in its sole discretion, provide in a Unit Award agreement that the annual benefit with respect to a Unit Award is subject to an adjustment based on the Company&#146;s stock price performance
between the grant date of the Unit Award and the fourth anniversary of the grant date (pursuant to a formula set forth in the LTPU Plan). Otherwise no participant is entitled to any earnings on Unit Awards. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Unit Awards vest upon the following circumstances: (i)&nbsp;the fourth anniversary of the grant date, subject to the participant&#146;s
continued service as of such date; (ii)&nbsp;the later of the participant&#146;s 65<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> birthday and the second anniversary of the grant date, subject to the participant&#146;s continued services as
of each such date; (iii)&nbsp;the participant&#146;s termination of employment due to death or disability; or (iv)&nbsp;a Change of Control Event (as defined in the LTPU Plan) that occurs while the participant is employed by the Company. If a
participant terminates employment prior to the foregoing vesting dates, subject to the terms of the LTPU Plan, the participant may forfeit Unit Awards or may be entitled to receive a partial payment with respect to Unit Awards. Payment may also be
forfeited if a participant engages in Detrimental Activity (as defined in the LTPU Plan) such as disclosure of the Company&#146;s confidential information or engaging in conduct injurious to the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On July&nbsp;8, 2016, Byrne Mulrooney was granted 7 Unit Awards pursuant to an award agreement consistent with the terms and conditions of
LTPU Plan and the Agreement. No other executive officer of the Company received a grant of Unit Awards. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing description of the terms of the LTPU Plan and the Agreement is qualified in its
entirety by reference to the actual terms of the LTPU Plan and the Agreement, which are attached as Exhibits 10.1 and 10.2 hereto, respectively. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Forward-Looking Statements </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
current report on Form 8-K contains &#147;forward-looking statements&#148;, within the meaning of Section&nbsp;27A of the Securities Act of 1933 and Section&nbsp;21E of the Securities Exchange Act of 1934. These forward-looking statements generally
can be identified by use of statements that include phrases such as &#147;believe,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;foresee,&#148; &#147;may,&#148; &#147;will,&#148; &#147;likely,&#148;
&#147;estimates,&#148; &#147;potential,&#148; &#147;continue&#148; or other similar words or phrases. Such forward-looking statements include statements regarding the timing and scope of the restructuring actions; the amount and timing of the
related charges and cash expenditures; and the expected cost savings resulting from such actions. Many factors could affect the actual results of the restructuring actions, and variances from the Company&#146;s current expectations regarding such
factors could cause actual results of the restructuring actions to differ materially from those expressed in these forward-looking statements. A discussion of these and other risks and uncertainties that could cause the Company&#146;s actual results
to differ materially from these forward-looking statements is included in the documents that the Company files with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K. These forward-looking statements speak only as of the date of
this report, and the Company does not undertake any obligation to revise or update such statements, whether as a result of new information, future events, or otherwise. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:23.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit<BR>No.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman">Description</P></TD></TR>


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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Korn/Ferry International Long Term Performance Unit Plan</TD></TR>
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<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Korn/Ferry International Long Term Performance Unit Plan Form of Unit Award Agreement</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>KORN/FERRY INTERNATIONAL</U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Date: July 14, 2016</P></TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Robert Rozek</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">(Signature)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Name: Robert Rozek</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Executive Vice President, Chief Financial Officer and Chief Corporate Officer</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit Index </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:37.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit&nbsp;No.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman">Description</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Korn/Ferry International Long Term Performance Unit Plan</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Korn/Ferry International Long Term Performance Unit Plan Form of Unit Award Agreement</TD></TR>
</TABLE>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d219261dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>KORN/FERRY INTERNATIONAL </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>LONG TERM PERFORMANCE UNIT PLAN </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>PURPOSE OF PLAN </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">The purpose of this Plan is to promote the success of the Company by
providing a select group of management and highly compensated employees with nonqualified supplemental retirement benefits as an additional means to attract, motivate and retain such employees. Only Eligible Employees (as defined herein) are
eligible to participate in this Plan. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>DEFINITIONS </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">Whenever the following words and phrases are used in this Plan, with the
first letter capitalized, they shall have the meanings specified below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Annual Benefit&#148; with respect to any Unit Award shall
mean $25,000 (or the lesser amount determined under Section&nbsp;4.1.2 for a Participant who elects that the Annual Benefit be paid over a longer period than five years). However, if expressly provided in a Unit Award Agreement, the Annual Benefit
shall be subject to the positive or negative adjustment, if any, as set forth in Section&nbsp;6.2. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Annual Benefit Commencement
Date&#148; shall mean the date determined under Section&nbsp;4.1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Beneficiary&#148; or &#147;Beneficiaries&#148; shall mean the
person or persons, including a trustee, personal representative or other fiduciary, last designated in writing by a Participant, in accordance with procedures established by the Committee, to receive the benefits specified hereunder in the event of
the Participant&#146;s death. No beneficiary designation shall become effective until it is filed with the Committee, and no beneficiary designation of someone other than the Participant&#146;s spouse shall be effective unless such designation is
consented to by the Participant&#146;s spouse on a form provided by and in accordance with the procedures established by the Committee. If there is no Beneficiary designation in effect, or if there is no surviving designated Beneficiary, then the
Participant&#146;s surviving spouse shall be the Beneficiary. If there is no surviving spouse to receive any benefits payable in accordance with the preceding sentence, the duly appointed and currently acting personal representative of the
Participant&#146;s estate (which shall include either the Participant&#146;s probate estate or living trust) shall be the Beneficiary. In any case where there is no such personal representative of the Participant&#146;s estate duly appointed and
acting in that capacity within 90 days after the Participant&#146;s death (or such extended period as the Committee determines is reasonably necessary to allow such personal representative to be appointed, but not to exceed 180 days after the
Participant&#146;s death), then &#147;Beneficiary&#148; shall mean the person or persons who can verify by affidavit or court order to the satisfaction of the Committee that they are legally entitled to receive the benefits specified hereunder. In
the event any amount is payable under this Plan to a minor, payment shall not be made to the minor, but instead be paid (a)&nbsp;to that person&#146;s living parent(s) to act as custodian, (b)&nbsp;if that person&#146;s parents are then divorced,
and one parent is the sole custodial parent, to such custodial parent, or (c)&nbsp;if no parent of that person is then living, to a custodian selected by the Committee to hold the funds for the minor under the Uniform Transfers or Gifts to Minors
Act in effect in the jurisdiction in which the minor resides. If no parent is living and the Committee decides not to select another custodian </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;1&nbsp;- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">
to hold the funds for the minor, then payment shall be made to the duly appointed and currently acting guardian of the estate for the minor or, if no guardian of the estate for the minor is duly
appointed and currently acting within 60 days after the date the amount becomes payable, payment shall be deposited with the court having jurisdiction over the estate of the minor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Board of Directors&#148; or &#147;Board&#148; shall mean the Board of Directors of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Change in Control Event&#148; shall mean any of the following: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">An acquisition by any Person (excluding one or more Excluded Persons) of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) or a pecuniary interest in (either comprising &#147;ownership
of&#148;) more than 30% of the Common Stock or voting securities entitled to then vote generally in the election of directors of the Company (&#147;Voting Stock&#148;), after giving effect to any new issue in the case of an acquisition from the
Company; or </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">Consummation of a merger, consolidation, or reorganization of the Company or of a sale or other disposition of all or substantially all of the Company&#146;s consolidated assets as an entirety (collectively, a
&#147;Business Combination&#148;), other than a Business Combination (1)&nbsp;in which all or substantially all of the holders of Voting Stock hold or receive directly or indirectly 70% or more of the voting stock of the entity resulting from the
Business Combination (or a parent company), and (2)&nbsp;after which no Person (other than any one or more of the Excluded Persons) owns more than 30% of the voting stock of the resulting entity (or a parent company) who did not own directly or
indirectly at least that amount of Voting Stock immediately before the Business Combination, and (3)&nbsp;after which one or more Excluded Persons own an aggregate number of shares of the voting stock at least equal to the aggregate number of shares
of voting stock owned by any other Person who is not an Excluded Person (except for any person described in and satisfying the conditions of Rule 13d-1(b)(1) under the Exchange Act), if any, and who owns more than 30% of the voting stock; or
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">Approval by the Board and (if required by law) by shareholders of the Company of a plan to consummate the dissolution or complete liquidation of the Company; or </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">During any period of two consecutive years, individuals who at the beginning of such period constituted the Board and any new director (other than a director designated by a person who has entered into an agreement or
arrangement with the Company to effect a transaction described in clause (a)&nbsp;or (b)&nbsp;of this definition) whose appointment, election, or nomination for election was approved by a vote of at least
<FONT STYLE="white-space:nowrap">two-thirds</FONT> (2/3)&nbsp;of the directors then still in office who either were directors at the beginning of the period or whose appointment, election or nomination for election was previously so approved, cease
for any reason to constitute a majority of the Board. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">For purposes of determining whether a Change in Control Event has occurred, a
transaction includes all transactions in a series of related transactions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;2&nbsp;- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Code&#148; shall mean the Internal Revenue Code of 1986, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Committee&#148; shall mean the Compensation Committee of the Board, which shall administer this Plan in accordance with Section&nbsp;9.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Company&#148; shall mean Korn/Ferry International, a Delaware corporation, and any successor corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Detrimental Activity&#148; with respect to a Participant shall mean that such Participant: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">has directly or indirectly engaged in any business for his or her own account that competes with the business of any entity within the Company Group (&#147;Company Group&#148; means the Company, the Subsidiaries, and
any affiliate of the Company or a Subsidiary) (a business in competition with any entity within the Company Group includes, without limitation, any business in an industry which any business in the Company Group may conduct business from time to
time and any business in an industry which any entity within the Company Group has specific plans to enter in the future and as to which the Participant is aware of such planning); or </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">has committed or engaged in an unauthorized disclosure or use of inside information, trade secrets or other confidential information, or an unauthorized use of trade names, trademarks, or other proprietary business
designations owned or used in connection with the business of any entity within the Company Group; has failed to timely return to the Company in accordance with Company policy all memoranda, books, papers, plans, information, letters and other data,
and all copies thereof or therefrom, in any way relating to the business of any entity within the Company Group; or </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">has entered the employ of, renders services to, or has acquired a financial interest in any person engaged in any business that competes with the business of any entity within the Company Group; has acted intentionally
in a manner injurious to the reputation, business or assets of, any entity within the Company Group; has interfered with business relationships (whether formed before or after the date hereof) between the Company, any Subsidiary, any of their
respective affiliates, and any customers, suppliers, officers, employees, partners, members or investors; has influenced or attempted to influence a vendor or customer of any entity within the Company Group, either directly or indirectly, to divert
their business away from the Company Group, induced a principal for whom an entity within the Company Group acts as agent to terminate such agency relationship, or induced an employee of any entity within the Company Group who earned $25,000 or more
on an annualized basis during the last six months of his or her employment to work for any business, individual, partnership, firm, corporation, or other entity then in competition with the business of any entity within the Company Group.
</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Disability&#148; shall mean with respect to a Participant any medically determinable physical or mental impairment
that can be expected to result in death or can be expected to last for a continuous period of not less than twelve months, by reason of which impairment the Participant </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;3&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">
is either unable to engage in any substantial gainful activity or is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering
employees of the Participant&#146;s employer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Early Termination Date&#148; shall have the meaning set forth in Section&nbsp;5.1.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Eligible Employee&#148; shall mean any Officer or any employee of a Participating Affiliate who is in the position category of vice
president or above and who customarily performs services for 30 or more hours per week for such Participating Affiliate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;ERISA&#148; shall mean the Employee Retirement Income Security Act of 1974, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Exchange Act&#148; means the Securities Exchange Act of 1934, as amended from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Excluded Person&#148; means </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">the Company or any Subsidiary; </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">any person described in and satisfying the conditions of Rule 13d-1(b)(1) under the Exchange Act); </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">any employee benefit plan of the Company or a Subsidiary; </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">any affiliates (within the meaning of the Exchange Act), successors, or heirs, descendants or members of the immediate families of the individuals identified in part (b)&nbsp;of this definition. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Grant Date&#148; shall mean, for each Unit Award, the date the Committee makes the Unit Award to the Participant, as set forth in the
Participant&#146;s Unit Award Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Officer&#148; shall mean the Chief Executive Officer, Chief Financial Officer, any
Executive Vice President and any Vice President of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Participant&#148; shall mean any Eligible Employee who is selected
for participation in the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Participating Affiliate&#148; shall mean the Company and any Subsidiary, which by resolution of its
board of directors and with the approval of the Committee, elects to participate in this Plan. By electing to participate in this Plan, a Participating Affiliate agrees to be bound by any Plan amendment adopted by resolution of the Board of
Directors or by the written instrument of any person to whom the Board of Directors has delegated its authority to adopt the amendment. If a Participating Affiliate ceases to be a Subsidiary, except by merger with its parent, the employment of each
Eligible Employee of the Participating Affiliate shall be deemed to have terminated for purposes of this Plan, except to any extent any such Eligible Employee is required by law to continue to be treated under the Plan as an employee of the Company.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;4&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Plan&#148; shall mean this Korn/Ferry International Long Term Performance Unit Plan set
forth herein, now in effect, or as amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Separation from Service&#148; shall have the meaning defined in
Section&nbsp;409A of the Code and Treasury Regulations Section&nbsp;1.409A-1(h). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Subsidiary&#148; shall mean (a)&nbsp;each
corporation which is (directly or indirectly) 50% or more owned by the Company, and (b)&nbsp;each entity which is partially owned by the Company and is organized under the laws of a nation other than the United States of America. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Termination Date&#148; shall mean the date that the Participant&#146;s has a &#147;separation from service,&#148; as defined in
Section&nbsp;409A of the Code, from the Company and its Subsidiaries for any reason. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Termination For Cause&#148; shall mean a
termination of service, based upon a finding by the Company, acting in good faith and based on its reasonable belief at the time, that the Participant: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">is or has been dishonest, incompetent, or negligent in the discharge of his or her duties to the Company; or has refused to perform stated or assigned duties; or </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">has committed a theft or embezzlement, or a breach of confidentiality or unauthorized disclosure or use of inside information, customer lists, trade secrets or other confidential information, or a breach of fiduciary
duty involving personal profit, or a willful or negligent violation of any law, rule or regulation or of Company rules or policy, in any material respect; or has been convicted (including a plea of guilty or nolo contendere) of a felony or
misdemeanor (other than minor traffic violations or similar offenses); or </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">has materially breached any of the provisions of any agreement with the Company or a parent corporation; or </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">has engaged in unfair competition with, or otherwise acted intentionally in a manner injurious to the reputation, business or assets of the Company; or has induced a customer to break or terminate any contract with the
Company or an affiliate; or has induced any principal for whom the Company (or an affiliate) acts as agent to terminate such agency relationship; or </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top">has made a misrepresentation or false statement in any application for employment, employment history, resume or other document submitted to the Company (whether before, during or after employment); or
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top">has engaged in Detrimental Activity. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">A Termination For Cause shall be deemed to occur
(subject to reinstatement upon a contrary final determination by the Board or Committee) on the date when the Company first delivers notice to the Participant of a finding of Termination For Cause and shall be final in all respects on the date
following the opportunity to be heard and written notice to the Participant that his or her service is terminated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;5&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Unit Award&#148; shall mean an award granted under this Plan. A Unit Award has a base value
of $50,000 for purposes of determining the payment made for a partially-vested Unit Award upon an Early Termination Date. A Unit Award has a full value of $125,000, which is the aggregate amount payable with respect to a fully-vested Unit Award
(subject to the adjustment, if any, as set forth in Section&nbsp;6.2). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">&#147;Unit Award Agreement&#148; shall mean the written agreement
evidencing an individual&#146;s Unit Award granted under the Plan. The Unit Award Agreement may contain additional terms and conditions as agreed upon by the Company and the Participant. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>PARTICIPATION AND UNIT AWARD GRANT </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Participation.</I></B> The Committee shall from time to time select from the
class of Eligible Employees those particular Eligible Employees who will participate in this Plan. Notwithstanding anything else contained herein to the contrary, the Committee shall limit the class of persons selected to participate in this Plan to
a select group of management or highly compensated employees, as set forth in Sections 201, 301 and 401 of ERISA. Participation shall commence upon the Committee making a Unit Award to a Participant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Unit Awards.</I></B> The Committee shall have discretion to grant Unit Awards
to Eligible Employees selected to participate in the Plan, and shall have discretion to determine the amount and terms of each such Unit Award. The Committee may grant more than one Unit Award to a Participant under this Plan. Each grant of a Unit
Award shall be evidenced by a Unit Award Agreement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>ELECTION OF ANNUAL BENEFIT COMMENCEMENT DATE AND PAYMENT PERIOD </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Initial Elections.</I></B> Unless the Participant (i)&nbsp;has a Separation
from Service on account of the Participant&#146;s death or Disability, or (ii)&nbsp;makes an election as provided in Sections 4.1.1 or 4.2, the Annual Benefit Commencement Date with respect to a Unit Award shall be the seventh anniversary of the
Grant Date of the Unit Award. Unless the Participant makes an election as provided in Section&nbsp;4.1.2, the Annual Benefit shall be five equal installments each in the amount of one-fifth of the full Unit Award value (thus, in the absence of an
adjustment under Section&nbsp;6.2, the Annual Benefit is $25,000). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>4.1.1&nbsp;&nbsp;&nbsp;&nbsp;</B>Within thirty days of the Grant
Date of each Unit Award, the Participant may elect, on a form and in the manner prescribed by the Committee, a later, but not earlier, Annual Benefit Commencement Date, provided that the date specified by the Participant shall not be a date after
the Participant reaches age 70. In no case shall the Participant&#146;s Annual Benefit Commencement Date occur after the later of age 70 or the seventh anniversary of the Grant Date of the Unit Award. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>4.1.2&nbsp;&nbsp;&nbsp;&nbsp;</B>Within thirty days of the Grant Date of each Unit Award, the Participant may elect, on a form and in the
manner prescribed by the Committee, a longer, but not shorter, number of full years over which the Annual Benefit shall be paid. If the Participant elects a longer number of full years over which the Annual Benefit shall be paid, the amount of the
Annual Benefit shall be the Unit Award value divided by the number of full years so elected by the Participant. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;6&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Annual Benefit Commencement Date
Election Changes</I></B>. The Participant may change the Annual Benefit Commencement Date applicable under Section&nbsp;4.1 to the extent permitted by this Section&nbsp;4.2. Any change must be made by providing notice to the Committee no less than
twelve months prior to the previously applicable Annual Benefit Commencement Date. The new Annual Benefit Commencement Date must be at least 5 years after the previously applicable Annual Benefit Commencement Date, and the new Annual Benefit
Commencement Date must be a date permitted under Section&nbsp;4.1.1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>No
Right to Interest. </I></B>No interest or other increase in benefits is payable (i)&nbsp;to any Participant who elects a later Annual Benefit Commencement Date under Sections 4.1.1 or 4.2, or (ii)&nbsp;to any Participant who elects a longer number
of full years over which the Annual Benefit shall be paid under Section&nbsp;4.1.2. However, the Committee, in its sole discretion, may increase the amount payable to a Participant described in clause (i)&nbsp;or (ii)&nbsp;in an amount determined by
the Committee in its sole discretion. No Participant shall have any contractual right to such an increase at any time prior to actual payment. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>VESTING </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Entitlement to
Annual Benefit</I></B>. The Annual Benefit shall be payable with respect to a Unit Award under any of the following circumstances: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>5.1.1&nbsp;&nbsp;&nbsp;&nbsp;</B>The Participant continues to be employed by the Company through the fourth anniversary of the Grant Date
for such Unit Award; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>5.1.2&nbsp;&nbsp;&nbsp;&nbsp;</B>The Participant continues to be employed by the Company through the later of
(i)&nbsp;the Participant&#146;s 65<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> birthday or (ii)&nbsp;the second anniversary of the Grant Date for such Unit Award; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>5.1.3&nbsp;&nbsp;&nbsp;&nbsp;</B>The Participant&#146;s employment with the Company is terminated due to death or Disability; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>5.1.4&nbsp;&nbsp;&nbsp;&nbsp;</B>A Change in Control Event occurs while the Participant is employed by the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">If the Participant&#146;s Termination Date occurs before the Participant satisfies the requirements for payment of the Annual Benefit as
provided in Sections 5.1.1 through 5.1.4, the Participant is deemed to have had an &#147;Early Termination Date&#148; with respect to such Unit Award. If the Participant has an Early Termination Date, (i)&nbsp;the Annual Benefit shall not be payable
with respect to the Unit Award, and (ii)&nbsp;the payment (if any) with respect to the Unit Award shall be the amount (if any) determined under Section&nbsp;5.2. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Forfeiture or Lump Sum Payment.</I></B> If a Participant&#146;s Early
Termination Date occurs before the date that is 13 months after the Grant Date with respect to a Unit Award, the Unit Award is forfeited and no payment shall be made to the Participant with respect to the Unit Award. If a Participant&#146;s Early
Termination Date occurs on or after the date </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;7&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">
that is 13 months after the Grant Date with respect to a Unit Award, the Participant shall be entitled to a lump sum payment equal to the lesser of (x)&nbsp;$50,0000 or (y)&nbsp;the product of
$12,500 times the number of full years of service completed between the Grant Date and the Termination Date. Such payment shall be made on the first day of the seventh month following the Participant&#146;s Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>5.2.1&nbsp;&nbsp;&nbsp;&nbsp;</B>The following hypothetical example illustrates the calculation of the lump sum payment. For purposes of
the hypothetical, assume the Participant has a Termination Date before reaching age 65 and after completing three full years of service after the Grant Date. Since the Termination Date was before the Participant satisfied the requirements for
payment of the Annual Benefit, it was an Early Termination Date. Therefore, the Annual Benefit is not payable, and the Participant is entitled to a lump sum benefit of $37,500. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>6.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>DISTRIBUTION OF BENEFITS </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Annual Distributions</I></B>. With respect to each Unit Award for which the
Annual Benefit becomes payable, during the calendar year that includes the Annual Benefit Commencement Date and once per year during each of the next four calendar years thereafter (or such longer period as elected by the Participant pursuant to
Section&nbsp;4.1.2), the Company shall pay the Participant an amount equal to the Annual Benefit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>6.1.1&nbsp;&nbsp;&nbsp;&nbsp;</B>Except as provided in Sections 6.1.2 or 6.1.3, the Annual Benefit Commencement Date is the date
determined in Sections 4.1 and 4.2. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>6.1.2&nbsp;&nbsp;&nbsp;&nbsp;</B>If the Participant&#146;s Separation from Service is on account
of the Participant&#146;s Disability, the Annual Benefit Commencement Date shall be one year following the Participant&#146;s Separation from Service. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>6.1.3&nbsp;&nbsp;&nbsp;&nbsp;</B>If the Participant&#146;s Separation from Service is on account of the Participant&#146;s death, the
Annual Benefit Commencement Date shall be sixty days following the Participant&#146;s Separation from Service. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">The payment date within any calendar year
shall be determined by the Company. Notwithstanding any provision of the Plan to the contrary, any payments commencing due to a Participant&#146;s Separation from Service (other than his or her death) shall not be made prior to the date that is six
months following the date of such Separation from Service. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Adjustment to
Annual Benefit.</I></B> The Committee may, in its sole discretion, provide in a Unit Award Agreement that the Annual Benefit is subject to the adjustment provided in this Section&nbsp;6.2. Unless expressly provided in a Unit Award Agreement, the
adjustment described in this Section&nbsp;6.2 does not apply. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:12pt; font-family:Times New Roman"><B>6.2.1&nbsp;&nbsp;&nbsp;&nbsp;</B>If the adjustment in this
Section&nbsp;6.2 applies, then the Unit Award value shall be increased (or decreased) according to a formula determined by the Committee at the time a Unit Award is granted, and such formula shall be specified in the Unit Award Agreement. By way of
example and not limitation, such formula may be based on changes to the trading price of the Company&#146;s Common Stock during a period after the Unit Award is granted. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;8&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>6.3&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Liability for Payment</I></B>. Notwithstanding anything
else in this Plan to the contrary: (1)&nbsp;a Participant&#146;s benefits with respect to this Plan shall be paid by the Participating Affiliate to whose employment of the Participant such benefits relate, and (2)&nbsp;a Participant shall have no
right or claim to Plan benefits from any other Participating Affiliate other than the employer referenced in the foregoing clause. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>7.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>FORFEITURE; DETRIMENTAL ACTIVITY. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">A Participant&#146;s rights with respect to the Unit
Award, whether vested or unvested, shall terminate, become null and void, and be immediately forfeited if (i)&nbsp;the Participant&#146;s employment ends as a result of a Termination for Cause, or (ii)&nbsp;the Participant engages in any Detrimental
Activity at any time prior to the date the last Annual Benefit payment is made under the Unit Award. In the event that the Committee determines that a Participant has engaged in Detrimental Activity at any time prior to the date the last Annual
Benefit payment is made under the Unit Award, the Committee shall cease to make payments under the Plan to the Participant and the Participant will forfeit any remaining Unit Award or Annual Benefit. Determinations of whether (i)&nbsp;a
Participant&#146;s employment has ended as a result of a Termination for Cause, and (ii)&nbsp;a Participant has engaged in Detrimental Activity shall be made by the Committee in its sole discretion. For avoidance of doubt, if a Unit Award is
forfeited under this Section&nbsp;7, the Participant and Beneficiary forfeit all rights to any payments under such Unit Award, even if such Unit Award had previously become fully or partially vested under Section&nbsp;5.1 or Section&nbsp;5.2.
Notwithstanding the foregoing, the Committee, in its sole discretion, may provide that some or all of the benefit described in Section&nbsp;5.2 (i.e., the vested portion of $50,000) shall be payable to a Participant whose benefit is otherwise
subject to forfeiture under this Section&nbsp;7. No Participant shall have any contractual right to a payment described in the preceding sentence at any time prior to actual payment. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>8.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>FUNDING </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Type of
Plan.</I></B> The Plan is a defined benefit, unfunded, non-qualified deferred compensation plan. The benefits provided under this Plan are not based on any salary reduction by the Participants. Participants do not have the option of receiving any
current payment or bonus in lieu of the benefits provided under this Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Rabbi Trust. </I></B>The Company may establish a &#147;rabbi trust&#148; to
which contributions may be made to provide the Company with a source of funds for purposes of satisfying the obligations of the Company under the Plan. Any such trust shall constitute an unfunded arrangement and shall not affect the status of the
Plan as an unfunded plan. The Participant and his Beneficiaries shall have no beneficial ownership interest in any assets held in the trust. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>9.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>PLAN ADMINISTRATION </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Committee</I></B>. The Committee shall be appointed as set forth in the
Company&#146;s governing documents. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;9&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>9.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Committee Action</I></B>. The
Committee shall act at meetings by affirmative vote of a majority of the members of the Committee. Any action permitted to be taken at a meeting may be taken without a meeting if, prior to such action, a written consent to the action is signed by a
majority of the members of the Committee and such written consent is filed with the minutes of the proceedings of the Committee. A member of the Committee shall not vote or act upon any matter which relates solely to himself or herself as an
Participant. The Chairman or any other member or members of the Committee designated by the Chairman may execute any certificate or other written direction on behalf of the Committee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Powers and Duties of the Committee</I></B>. The Committee, on behalf of the
Participants and their Beneficiaries, shall enforce this Plan in accordance with its terms, shall be charged with the general administration of this Plan, and shall have all powers necessary to accomplish its purposes, including, but not by way of
limitation, the following: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">To construe and interpret the terms and provisions of this Plan and to make factual determinations hereunder; </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">To compute and certify the amount and kind of benefits payable to Participants and their Beneficiaries, and to determine the time and manner in which such benefits are paid; </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">To maintain all records that may be necessary for the administration of this Plan; </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">To provide for the disclosure of all information and the filing or provision of all reports and statements to Participants, Beneficiaries or governmental agencies as shall be required by law; </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top">To make and publish such rules for the regulation of this Plan and procedures for the administration of this Plan as are not inconsistent with the terms hereof; </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top">To appoint a plan administrator or any other agent, and to delegate to them such powers and duties in connection with the administration of this Plan as the Committee may from time to time prescribe (including but not
limited to the power to approve the designation of Subsidiaries as Participating Affiliates under this Plan); and </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top">To require or permit Participant (or Beneficiary, as the context may require) elections and/or consents under this Plan to be made by means of such electronic media as the Committee may prescribe. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Construction and Interpretation</I></B>. Prior to a Change in Control Event,
the Committee shall have full discretion to construe and interpret the terms and provisions of this Plan, which interpretation or construction shall be final and binding on all parties, including but not limited to the Company and any Participant or
Beneficiary. Any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;10&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">
interpretation, construction or determination made after a Change in Control Event shall be subject to judicial review on a <I>de novo</I> basis. The Committee shall administer the terms and
provisions of this Plan in a uniform and nondiscriminatory manner and in full accordance with any and all laws applicable to this Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>9.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Compensation, Expenses and Indemnity</I></B>. The members of the Committee
shall serve without compensation for their services hereunder. Expenses and fees in connection with the administration of this Plan shall be paid by the Company. The Committee is authorized at the expense of the Company to employ such legal counsel
as it may deem advisable to assist in the performance of its duties hereunder. To the extent permitted by applicable state law, the Company shall indemnify and save harmless the Committee and each member thereof, the Board of Directors and any
delegate of the Committee who is an employee of a Participating Affiliate against any and all expenses, liabilities and claims, including legal fees to defend against such liabilities and claims arising out of their discharge in good faith of
responsibilities under or incident to this Plan, other than expenses and liabilities arising out of willful misconduct. This indemnity shall not preclude such further indemnities as may be available under insurance purchased by the Participating
Affiliate or provided by the Participating Affiliate under any bylaw, agreement or otherwise, as such indemnities are permitted under state law. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>10.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>MISCELLANEOUS </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Unsecured General
Creditor</I></B>. Participants and their Beneficiaries, heirs, successors, and assigns shall have no legal or equitable rights, claims, or interest in any specific property or assets of any Participating Affiliate. No assets of any Participating
Affiliate shall be held under any trust or held in any way as collateral security for the fulfilling of the obligations of any Participating Affiliate. Any and all of each Participating Affiliate&#146;s assets shall be, and remain, the general
unpledged, unrestricted assets of the Participating Affiliate. Each Participating Affiliate&#146;s obligations under this Plan shall be merely that of an unfunded and unsecured promise of the Participating Affiliate to pay money in the future to
those persons to whom the Participating Affiliate has a benefit obligation under this Plan, and the respective rights of the Participants and Beneficiaries shall be no greater than those of unsecured general creditors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Restriction Against Assignment</I></B>. The respective Participating Affiliate shall pay
all amounts payable hereunder only to the person or persons designated by the Plan and not to any other person or corporation. No part of the Unit Award or Annual Benefit shall be liable for the debts, contracts, or engagements of any Participant,
his or her Beneficiary, or successors in interest, nor shall a Participant&#146;s Unit Award or Annual Benefit be subject to execution by levy, attachment, or garnishment or by any other legal or equitable proceeding, nor shall any such person have
any right to alienate, anticipate, commute, pledge, encumber, or assign any benefits or payments hereunder in any manner whatsoever. If any Participant, Beneficiary or successor in interest is adjudicated bankrupt or purports to anticipate,
alienate, sell, transfer, assign, pledge, encumber or charge any distribution or payment from the Plan, voluntarily or involuntarily, the Committee, in its discretion, may cancel such distribution or payment (or any part thereof) to or for the
benefit of such Participant, Beneficiary or successor in interest in such manner as the Committee shall direct. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;11&nbsp;- </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Tax Withholding</I></B>. The Company (or the
Subsidiary by which the Participant is employed) may satisfy any state or federal employment tax withholding obligation, or such other withholding obligation as required by the Company&#146;s (or Subsidiary&#146;s) jurisdiction, with respect to the
Unit Award under this Plan by deducting such amounts from any compensation payable by the Company (or a Subsidiary) to the Participant. There shall be deducted from each payment or distribution made under this Plan, or any other compensation payable
to the Participant (or Beneficiary), all taxes which are required to be withheld by the Company (or a Subsidiary) in respect to such payment or distribution or this Plan. If the Company, for any reason, elects not to (or cannot) satisfy the
withholding obligation from the amounts otherwise payable under this Plan, the Participant shall pay or provide for payment in cash of the amount of any taxes which the Company (or a Subsidiary) may be required to withhold with respect to the
benefits hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Amendment, Modification, Suspension or Termination</I></B>. The
Board or the Committee may amend, modify, suspend or terminate this Plan in whole or in part, except that no amendment, modification, suspension or termination shall have any retroactive effect to reduce any outstanding Unit Awards or accelerate or
defer the timing of any distributions under this Plan as provided in Sections 5 or 6. A Participating Affiliate may elect to terminate its status as such at any time and, in such event, such termination shall not affect the Participating
Affiliate&#146;s obligations under this Plan with respect to amounts previously awarded under this Plan for which the Participating Affiliate is liable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Governing Law; Severability</I></B>. This Plan shall be construed, governed and
administered in accordance with the laws of the State of Delaware. If any provisions of this instrument shall be held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to be fully
effective. To the extent that the Plan is subject to Section&nbsp;409A of the Code, the Plan shall be construed and interpreted to the maximum extent reasonably possible to avoid the imputation of any tax, penalty or interest pursuant to
Section&nbsp;409A. The Company reserves the right to amend the Plan to the extent it reasonably determines is necessary in order to preserve the intended tax consequences of deferrals made under the Plan in light of Section&nbsp;409A and any
regulations or other guidance promulgated thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Receipt or Release</I></B>.
Any payment to a Participant or the Participant&#146;s Beneficiary in accordance with the provisions of this Plan shall, to the extent thereof, be in full satisfaction of all claims against the Committee, the Company and the Subsidiaries. The
Committee may require such Participant or Beneficiary, as a condition precedent to such payment, to execute a receipt and release to such effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Payment on Behalf of Persons Under Incapacity</I></B>. In the event that any amount
becomes payable under the Plan to a person who, in the sole judgment of the Committee, is considered by reason of physical or mental condition to be unable to give a valid receipt therefore, the Committee may direct that such payment be made to any
person found by </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;12&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">
the Committee, in its sole judgment, to have assumed the care of such person. Any payment made pursuant to such determination shall constitute a full release and discharge of the Committee, the
Company and the Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>No Right to Employment</I></B>. Participation in this
Plan shall not give any person the right to continued employment or service or any rights or interests other than as expressly provided herein. No Participant shall have any right to any payment or benefit hereunder except to the extent provided in
this Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Titles and Headings</I></B>. Headings and subheadings in this Plan are
inserted for convenience of reference only and are not to be considered in the construction of the provisions hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.10&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Claims Procedure</I></B>. A person who believes that he or she is being denied a benefit to which he
or she is entitled under this Plan (hereinafter referred to as &#147;Claimant&#148;) may file a written request for such benefit with the Committee, setting forth his or her claim. The request must be addressed to the Committee at the Company&#146;s
then principal executive offices. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">Upon receipt of a claim, the Committee shall advise the Claimant that a reply will be forthcoming
within ninety days and shall, in fact, deliver such reply within such period. The Committee may, however, extend the reply period for an additional ninety days for special circumstances. If the claim is denied in whole or in part, the Committee
shall inform the Claimant in writing, using language calculated to be understood by the Claimant, setting forth: (i)&nbsp;the specified reason or reasons for such denial, (ii)&nbsp;the specific reference to pertinent provisions of this Plan on which
such denial is based, (iii)&nbsp;a description of any additional material or information necessary for the Claimant to perfect his or her claim and an explanation why such material or such information is necessary, (iv)&nbsp;appropriate information
as to the steps to be taken if the Claimant wishes to submit the claim for review, and (v)&nbsp;the time limits for requesting a review set forth below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">Within sixty days after the receipt by the Claimant of the written reply described above, the Claimant may request in writing that the
Committee review its determination. Such request must be addressed to the Committee at the Company&#146;s then principal executive offices. The Claimant or his or her duly authorized representative may, but need not, review the pertinent documents
and submit issues and comments in writing for consideration by the Committee. If the Claimant does not request a review within such sixty day period, he or she shall be barred and estopped from challenging the Committee&#146;s determination. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">Within sixty days after the Committee&#146;s receipt of a request for review, after considering all materials presented by the Claimant, the
Committee will inform the Claimant in writing, in manner calculated to be understood by the Claimant, of its decision setting forth the specific reasons for the decision and containing specific references to the pertinent provisions of this Plan on
which the decision is based. If special circumstances require that the sixty day time period be extended, the Committee will so notify the Claimant and will render the decision as soon as possible, but no later than one hundred twenty days after
receipt of the request for review. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;13&nbsp;- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman"><B>10.11&nbsp;&nbsp;&nbsp;&nbsp;</B><B><I>Arbitration</I></B>. Any dispute regarding the Plan
shall be submitted to mandatory, binding arbitration. A Claimant must exhaust the claims procedure set forth in Section&nbsp;10.10 as a condition of commencing arbitration. If a civil action concerning the Plan has been brought, the Company and the
Claimant shall take such actions as are necessary or appropriate, including dismissal of the civil action, so that the arbitration can be timely heard. Once arbitration is commenced, it may not be discontinued without the unanimous consent of all
parties to the arbitration. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">Any claim for arbitration may be submitted as follows: if the Claimant disagrees with an interpretation of
this Plan by the Company or any fiduciary of this Plan, or disagrees with the calculation of his or her benefit under this Plan, such claim may, after exhaustion of the claims procedure set forth in Section&nbsp;10.10, be filed in writing with an
arbitrator of the Claimant&#146;s choice who is selected by the method described in the next four sentences. The first step of the selection shall consist of the Claimant submitting in writing a list of five potential arbitrators to the Company.
Each of the five potential arbitrators must be either (i)&nbsp;a member of the National Academy of Arbitrators located in the state of California or, if the Claimant is a resident of the United States, the state of the Claimant&#146;s residence or
(ii)&nbsp;a retired California Superior Court or Appellate Court judge.<B> </B>Within ten business days after receipt of the list, the Company shall select one of the five arbitrators as the arbitrator of the dispute in question. If the Company
fails to select an arbitrator in a timely manner, the Claimant then shall designate one of the five arbitrators as the arbitrator of the dispute in question. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">The arbitration hearing shall be held within thirty days (or as soon thereafter as possible) after the selection of the arbitrator. No
continuance of said hearing shall be allowed without the mutual consent of the Claimant and the Company. Absence from or non-participation at the hearing by any party shall not prevent the issuance of an award. Hearing procedures that will expedite
the hearing may be ordered at the arbitrator&#146;s discretion, and the arbitrator may close the hearing in his sole discretion when he or she decides he or she has heard sufficient evidence to justify issuance of an award. The arbitrator shall
apply the same standard of review referred to in Section&nbsp;9.4 as would be applied by a court of proper jurisdiction. Accordingly, with respect to any interpretation, construction or determination by the Committee prior to a Change in Control
Event, the arbitrator shall not apply a de novo standard of review in reviewing the decision rendered through the claims procedure but rather shall review the Committee&#146;s interpretation, construction or determination under an abuse of
discretion standard, and with respect to any interpretation, construction or determination by the Committee upon and after a Change in Control Event, the arbitrator shall apply a de novo standard of review. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">The arbitrator&#146;s award shall be rendered as expeditiously as possible and in no event later than one week after the close of the hearing.
In the event the arbitrator finds that the Claimant is entitled to the benefits he or she claimed, the arbitrator shall order the Company to pay or deliver such benefits, in the amounts and at such time as the arbitrator determines. The award of the
arbitrator shall be final and binding on the parties. The </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;14&nbsp;- </P>


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Company shall thereupon pay or deliver to the Claimant immediately the amount that the arbitrator orders to be paid or delivered in the manner described in the award. The award may be enforced in
any appropriate court as soon as possible after its rendition. If any action is brought to confirm the award, no appeal shall be taken by any party from any decision rendered in such action. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:6%; font-size:12pt; font-family:Times New Roman">If a Change in Control Event has occurred and the arbitrator determines that the Claimant is entitled to the claimed benefits, the arbitrator
shall direct the Company to pay to the Claimant, and the Company shall pay to the Claimant in accordance with such order, an amount equal to the Claimant&#146;s expenses in pursuing the claim, including attorneys&#146; fees. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;15&nbsp;- </P>

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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d219261dex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>KORN FERRY INTERNATIONAL </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>LONG TERM PERFORMANCE UNIT PLAN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNIT AWARD AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>THIS UNIT AWARD AGREEMENT</B> (this &#147;Agreement&#148;) by and between Korn Ferry International, a Delaware corporation (the
&#147;Company&#148;), and the Participant named below evidences the Unit Award granted by the Company to the Participant under the Korn/Ferry International Long Term Performance Unit Plan (the &#147;Plan&#148;). The capitalized terms used in this
Agreement are defined in the Plan, if not defined herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Participant:</B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">The Committee hereby selects the above named individual for participation in the Plan, effective as of the Grant Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Grant Date:</B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Unit Award: </B>The Participant is hereby awarded <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
(specify number) of Unit Awards as of the Grant Date, subject to the terms of the Plan and this Agreement. Each Unit Award has a base value of $50,000 for purposes of determining the lump sum payment made for a partially-vested Unit Award. Each Unit
Award has a full value of $125,000, which is the aggregate amount payable in five equal annual installments of $25,000 with respect to a fully-vested Unit Award. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Vesting:</B> The base value of the Unit Award shall become 25% vested 13 months after the Grant Date, 50% vested on the second anniversary
of the Grant Date and 75% vested on the third anniversary of the Grant Date. The full value of the Unit Award shall become fully vested on the fourth anniversary of the Grant Date. The full value of the Unit Award shall also become fully vested
(i)&nbsp;on the later of the Participant&#146;s 65<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> birthday or the second anniversary of the Grant Date, (ii)&nbsp;upon the termination of the Participant&#146;s employment with the Company due
to death or Disability, and (iii)&nbsp;upon a Change in Control Event. In all instances, full or partial vesting is subject to the Participant&#146;s continued employment by the Company through the relevant vesting date, and the Unit Award is
forfeited upon termination of employment to the extent not vested. Furthermore, at all times (even following full or partial vesting) the Unit Award is subject to forfeiture if the Participant is terminated for Cause or engages in Detrimental
Activity, as set forth in the Plan. Should the Unit Award be forfeited, no payment shall be made under the Unit Award. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Payment:
</B>The vested portion of the base value of a Unit Award that is partially vested (but not fully vested) is payable as a lump sum on the first day of the seventh month following the Participant&#146;s Termination Date. Subject to the
Participant&#146;s payout elections (described below), a fully-vested Unit Award is payable in five equal annual installments of $25,000, with the first payment made during the calendar year that includes the seventh anniversary of the Grant Date,
and with each subsequent payment made during each of the next four calendar years. If the Participant&#146;s employment with the Company terminates on account of Disability prior to the seventh anniversary of the Grant Date, the annual installments
commence one year following the Participant&#146;s Termination Date. If the Participant&#146;s employment with the Company terminates on </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">
account of Death prior to the seventh anniversary of the Grant Date, the annual installments commence 60 days following the date of death. In all instances the payment date within any calendar
year is determined by the Company; provided, however, that any payments commencing due to a Participant&#146;s Separation from Service (other than his or her death) shall not be made prior to the date that is six months following the date of such
Separation from Service. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Payout Elections: </B>Within 30 days of the Grant Date, the Participant may elect (i)&nbsp;that the annual
installments for a fully-vested Unit Award commence later than (but not earlier than) the calendar year that includes the seventh anniversary of the Grant Date, or (ii)&nbsp;that the payment for a fully-vested Unit Award be made over a greater (but
not lesser) number of annual installments (with the full value of such installments remaining $125,000). Furthermore, at least 12 months prior to the date benefits would otherwise commence, the Participant may elect that the annual installments for
a fully-vested Unit Award commence later than the calendar year that includes the seventh anniversary of the Grant Date, provided that any such election must defer the commencement of benefits at least five additional years. In no instance shall
interest or other investment earnings shall be credited to a Participant who makes an election to receive payments at a later date or over a greater number of installments. Any Participant elections must be made in the form and manner specified by
the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Plan Document Controls</B>: This Agreement is subject to the terms and conditions of the Plan document. The Company
represents and warrants that a current copy of the Plan document has been provided to the Participant, and Participant hereby acknowledges receipt of such document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman">The parties hereby agree to the terms of the Unit Award set forth herein and in the Plan. </P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="42%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="43%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>&#147;PARTICIPANT&#148;</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>KORN FERRY INTERNATIONAL,</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">a
Delaware corporation</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><I>Signature</I></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="43%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman"><I>Print Name</I></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">Its:</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman"><I>Address</I></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman"><I>City, State, Zip Code</I></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CONSENT OF SPOUSE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:2%; font-size:12pt; font-family:Times New Roman">In consideration of the Company&#146;s execution of this Agreement, the undersigned spouse of the Participant agrees to be bound by all of the
terms and provisions hereof and of the Plan. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="20%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"><FONT STYLE="font-size:12pt"><I>Signature of Spouse</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-size:12pt"><I>Date&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;2&nbsp;- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>KORN FERRY INTERNATIONAL </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>LONG TERM PERFORMANCE UNIT PLAN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>BENEFICIARY DESIGNATION FORM </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman">The undersigned (the &#147;Participant) hereby names the following person or persons, including a trustee, personal representative or other
fiduciary, as his/her beneficiary to receive all benefits to which the Participant may be entitled under Korn Ferry International Long Term Performance Unit Plan in the event of the Participant&#146;s death. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">Beneficiary:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">Percentage of benefits (percentages </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">must add to 100% in the aggregate):
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">Relationship:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">Beneficiary:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">Percentage of benefits (percentages </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">must add to 100% in the aggregate):
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">Relationship:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">Beneficiary:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">Percentage of benefits (percentages </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">must add to 100% in the aggregate):
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:21%; font-size:12pt; font-family:Times New Roman">Relationship:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="42%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="43%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>&#147;PARTICIPANT&#148;</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>ACCEPTED BY:</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>KORN FERRY
INTERNATIONAL,</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">a Delaware corporation</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><I>Signature</I></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="43%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman"><I>Print Name</I></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">Its:</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman"><I>Address</I></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman"><I>City, State, Zip Code</I></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>KORN FERRY INTERNATIONAL </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>LONG TERM PERFORMANCE UNIT PLAN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PAYOUT ELECTION FORM </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>Participant:</B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>Grant Date for Unit Awards subject to this election:</B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Purpose:</B> This form may be used by a Participant in the Korn Ferry International Long Term Performance Unit Plan (the &#147;Plan&#148;)
to elect (i)&nbsp;that the annual installments for a fully-vested Unit Award commence later than (but not earlier than) the calendar year that includes the seventh anniversary of the Grant Date, or (ii)&nbsp;that the payment for a fully-vested Unit
Award be made over a greater (but not lesser) number of annual installments (with the full value of such installments remaining $125,000). A Participant who does not wish to defer receipt of benefits or to receive benefits over a longer period
should not submit this election form. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Units Awards Subject to this Election: </B>The Participant&#146;s election applies to the Unit
Award(s) granted to the Participant on the Grant Date shown above (the &#147;Applicable Unit Awards). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Deadline:</B> In order to comply
with certain tax rules governing the Plan, this election must be completed and delivered to the Company no later than 30 days following the Grant Date. Any attempt to make the election following such deadline shall be disregarded. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>No Interest or Investment Earnings: </B>Under the election below, the Participant will receive the payments for the Applicable Unit Award
at a later date or over a longer period of time than in the absence of the election. The Participant understands and agrees that no interest, investment earnings or other compensation will be paid as a result of such election. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:12pt; font-family:Times New Roman"><B>Annual Benefit Commencement Date: </B>The Participant hereby elects to receive any Annual Benefit that he/she may be entitled to receive
pursuant to the Plan for the Applicable Unit Awards beginning during the following calendar year: <I>(Select one)</I> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">The calendar year that is 6 months following the Participant&#146;s Separation from Service with the Company (provided that the commencement of distributions will not be earlier than the calendar year that includes the
seventh anniversary of the Grant Date, and that the commencement of distributions will not be later than the calendar year in which the Participant reaches age 70); provided that any payments commencing due to a Participant&#146;s Separation from
Service shall not be made prior to the date that is six months following the date of such Separation from Service. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">The calendar year in which the Participant attains age<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><I> (Insert an age not exceeding 70) </I>(provided that the commencement of
distributions will not be earlier than the calendar year that includes the seventh anniversary of the Grant Date)<I>.</I> </TD></TR></TABLE>

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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">The calendar year that includes the <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> th anniversary of the Grant Date <I>(Insert a number of years higher than 7)</I> (provided that the commencement of
distributions will not be deferred later than the calendar year in which the Participant reaches age 70). </TD></TR></TABLE> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>&#147;PARTICIPANT&#148;</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>ACCEPTED BY:</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>KORN FERRY
INTERNATIONAL,</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">a Delaware corporation</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><I>Signature</I></P>
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<TD VALIGN="bottom"> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">By:</P></TD>
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<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE>
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<TD VALIGN="top"> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman"><I>Print Name</I></P></TD>
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<TD VALIGN="bottom"> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman">Its:</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman"><I>Address</I></P></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman"><I>City, State, Zip Code</I></P></TD>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-&nbsp;2&nbsp;- </P>

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