EXHIBIT 99.16
SATISFACTION AND RELEASE
The undersigned hereby acknowledges that it has received from Xxxxxxx PRG
Liquidating Investments, Ltd., a Texas limited partnership ("Borrower")
$654,363.40 in full satisfaction of the Credit Obligations referred to and
defined in that certain Xxxxxxx PRG Liquidating Investments, Ltd. Pledge
Agreement (the "Pledge Agreement") between Xxxxxxx XX and Berkshire Investors
LLC, a Massachusetts limited liability company ("Berkshire"), pursuant to which
74,649 shares of PRGX Common Stock ("Pledged Shares") were pledged by Borrower
to Berkshire to secure that certain Xxxxxxx PRG Liquidating Investments, Ltd.
Secured Promissory Note due February 13, 2003 in the original principal amount
of $650,939.28 dated as of September 6, 2002 (the "Note").
Berkshire hereby acknowledges that the Pledge Agreement is fully satisfied,
terminated and discharged. Xxxxxxxxx agrees to immediately take the following
actions:
1. mark the Note "Cancelled and Paid in Full";
2. forward immediately by a nationally recognized overnight express
service, the following:
(a) to Xxxxxxx XX, the original Note marked "Cancelled and Paid in
Full" and an executed original of this Satisfaction and Release; and
(b) to Xxx Xxxxxxxxx, Xxxxxx Xxxxxx & Xxxxxxx, LLP, certificates for
that number of Pledged Shares (as defined in the Pledge Agreements) released
from the Pledge Agreement; together with original stock powers (sent in a
separate package from the package containing the stock certificates) previously
delivered by Borrower to Berkshire, without alteration for the transfer of the
Pledged Shares so released.
IN WITNESS WHEREOF, the undersigned has executed this Satisfaction and
Release as of the 20th day of September, 2002.
BERKSHIRE INVESTORS LLC
By /s/ Xxxx X. Xxxxx
-----------------------------------------
Name: Xxxx X. Xxxxx
Title: Managing Director
SATISFACTION AND RELEASE
The undersigned hereby acknowledges that it has received from Xxxxxxx PRG
Liquidating Investments, Ltd., a Texas limited partnership ("Borrower")
$5,762,226.84 in full satisfaction of the Credit Obligations referred to and
defined in that certain Xxxxxxx PRG Liquidating Investments, Ltd. Pledge
Agreement (the "Pledge Agreement") between Xxxxxxx XX and Berkshire Fund V,
Limited Partnership, a Massachusetts limited partnership ("Berkshire"), pursuant
to which 657,348 shares of PRGX Common Stock ("Pledged Shares") were pledged by
Borrower to Berkshire to secure that certain Xxxxxxx PRG Liquidating
Investments, Ltd. Secured Promissory Note due February 13, 2003 in the original
principal amount of $5,732,074.56 dated as of September 6, 2002 (the "Note").
Berkshire hereby acknowledges that the Pledge Agreement is fully satisfied,
terminated and discharged. Xxxxxxxxx agrees to immediately take the following
actions:
1. mark the Note "Cancelled and Paid in Full";
2. forward immediately by a nationally recognized overnight express
service, the following:
(a) to Xxxxxxx XX, the original Note marked "Cancelled and Paid in
Full" and an executed original of this Satisfaction and Release; and
(b) to Xxx Xxxxxxxxx, Xxxxxx Xxxxxx & Xxxxxxx, LLP, certificates for
that number of Pledged Shares (as defined in the Pledge Agreements) released
from the Pledge Agreement; together with original stock powers (sent in a
separate package from the package containing the stock certificates) previously
delivered by Borrower to Berkshire, without alteration for the transfer of the
Pledged Shares so released.
IN WITNESS WHEREOF, the undersigned has executed this Satisfaction and
Release as of the 20th day of September, 2002.
BERKSHIRE FUND V, LIMITED PARTNERSHIP
By: Fifth Berkshire Associates LLC
Its General Partner
By /s/ Xxxx X. Xxxxx
-----------------------------------------
Name: Xxxx X. Xxxxx
Title: Managing Director
SATISFACTION AND RELEASE
The undersigned hereby acknowledges that it has received from Xxxxxxx PRG
Liquidating Investments, Ltd., a Texas limited partnership ("Borrower")
$6,260,329.85 in full satisfaction of the Credit Obligations referred to and
defined in that certain Xxxxxxx PRG Liquidating Investments, Ltd. Pledge
Agreement (the "Pledge Agreement") between Xxxxxxx XX and Berkshire Fund VI,
Limited Partnership, a Massachusetts limited partnership ("Berkshire"), pursuant
to which 714,171 shares of PRGX Common Stock ("Pledged Shares") were pledged by
Borrower to Berkshire to secure that certain Xxxxxxx PRG Liquidating
Investments, Ltd. Secured Promissory Note due February 13, 2003 in the original
principal amount of $6,227,571.12 dated as of September 6, 2002 (the "Note").
Berkshire hereby acknowledges that the Pledge Agreement is fully satisfied,
terminated and discharged. Xxxxxxxxx agrees to immediately take the following
actions:
1. mark the Note "Cancelled and Paid in Full";
2. forward immediately by a nationally recognized overnight express
service, the following:
(a) to Xxxxxxx XX, the original Note marked "Cancelled and Paid in
Full" and an executed original of this Satisfaction and Release; and
(b) to Xxx Xxxxxxxxx, Xxxxxx Xxxxxx & Xxxxxxx, LLP, certificates for
that number of Pledged Shares (as defined in the Pledge Agreements) released
from the Pledge Agreement; together with original stock powers (sent in a
separate package from the package containing the stock certificates) previously
delivered by Borrower to Berkshire, without alteration for the transfer of the
Pledged Shares so released.
IN WITNESS WHEREOF, the undersigned has executed this Satisfaction and
Release as of the 20th day of September, 2002.
BERKSHIRE FUND VI, LIMITED PARTNERSHIP
By: Sixth Berkshire Associates LLC
Its General Partner
By /s/ Xxxx X. Xxxxx
-----------------------------------------
Name: Xxxx X. Xxxxx
Title: Managing Director
1511681
