EXHIBIT 10.40 FORM OF STANDSTILL AGREEMENT, DATED JULY 28, 2026, BY AND BETWEEN PROFESSIONAL DIVERSITY NETWORK, INC. AND STREETERVILLE CAPITAL, LLC
Professional Diversity Network, Inc.
STANDSTILL AGREEMENT
This Standstill Agreement (this “Agreement”) is entered into as of July 28, 2026 (the “Effective Date”) by and between Streeterville Capital, LLC, a Utah limited liability company (“Investor”), and Professional Diversity Network, a Delaware corporation (“Company”). Capitalized terms used in this Agreement without definition shall have the meanings given to them in PPP #1 (defined below).
A. Company previously sold and issued to Investor that certain Pre-Paid Purchase #1 dated September 5, 2025, as amended, in the original principal amount of $8,655,000.00 (the “PPP #1”) pursuant to that certain Securities Purchase Agreement dated September 5, 2025 by and between Investor and Company (the “Purchase Agreement”, and together with all other documents entered into in conjunction therewith, the “Transaction Documents”).
B. Company has requested and Investor has agreed, subject to the terms, conditions and understandings expressed in this Agreement, to refrain and forbear temporarily from making purchases under PPP #1.
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