Branch Banking and Trust Company Letterhead]

Exhibit 10.1

[Branch Banking and Trust Company Letterhead]

October 31, 2016

Xx. Xxxxxx Xxxx

Chief Financial Officer

GSE Systems, Inc.

0000 Xxxxxxxxxx Xxxx.

Sykesville, MD 21784

Dear Xxxxxx:

The purpose of this letter is to confirm that the Bank has agreed to the following:

The Bank has agreed to extend the Revolving Credit Expiration Date until March 31, 2017, as defined in the Master Loan and Security Agreement dated November 22, 2011 in Section 1.1(a), by and among GSE Systems, Inc. and GSE Performance Solutions (collectively, the Co-Borrowers) and Branch Banking and Trust Company (successor by merger to Susquehanna Bank).

Respectfully,

Xxxxxx X Xxxxxx, Xx.

Senior Vice President

Tel (000) 000-0000