On November 28, 2014, Hudson Global Inc. and Latham Williams, the Senior Vice President, Legal Affairs and Administration, Corporate Secretary of the Company, entered into an Executive Agreement (Separation Agreement) pursuant to which Mr. Williams' employment with the Company will cease on December 31, 2014. Until December 31, 2014, Mr. Williams' employment duties and responsibilities, as well as his compensation and benefits, will continue as provided in the Executive Employment Agreement entered into between the company and Mr. Williams on January 25, 2012 and previously filed with the Securities and Exchange Commission, which is superseded by the Separation Agreement. Under the Separation Agreement, Mr. Williams agrees to serve as a consultant to the Company in the role of Corporate Secretary from January 1, 2015 through December 31, 2015, subject to extension, provided that Mr. Williams may terminate the Separation Agreement at any time prior to the expiration of the term by providing at least 60 days' advance notice of termination to the company.