Exhibit 10.1
FIRST AMENDMENT TO
CREDIT AGREEMENT

THIS FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of the 20th day of July, 2012
(this “Amendment”), is entered into among CRAWFORD & COMPANY, a Georgia
corporation (“Crawford”), CRAWFORD & COMPANY RISK SERVICES INVESTMENTS LIMITED,
a limited company incorporated under the laws of England and Wales with
registered number 02855446 (the “UK Borrower”), CRAWFORD & COMPANY (CANADA)
INC., a corporation incorporated under the laws of Canada (the “Canadian
Borrower”), CRAWFORD & COMPANY (AUSTRALIA) PTY. LTD., a proprietary limited
organized in Australia (ABN 11 002 317 133) (the “Australian Borrower” and,
together with Crawford, the UK Borrower and the Canadian Borrower, the
“Borrowers”), the Subsidiary Guarantors under the hereinafter defined Credit
Agreement, the Required Lenders under the hereinafter defined Credit Agreement
and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent under the
hereinafter defined Credit Agreement (the “Administrative Agent”).
RECITALS
A.    Reference is made to the Credit Agreement, dated as of December 8, 2011,
between the Borrowers, the Lenders party thereto from time to time and the
Administrative Agent (as amended from time to time, the “Credit Agreement”).
Capitalized terms not otherwise defined herein shall have the meaning given to
such terms in the Credit Agreement.
B.    The Borrowers have requested and the Required Lenders and the
Administrative Agent have agreed, on the terms and subject to the conditions set
forth herein, to amend the Credit Agreement as set forth herein.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual provisions, covenants and
agreements herein contained, the parties hereto hereby agree as follows:
ARTICLE I
AMENDMENTS
1.1    The definition of “Unfinanced Capital Expenditures” in Section 1.1 of the
Credit Agreement is hereby amended in its entirety as follows:

““Unfinanced Capital Expenditures” means Capital Expenditures that are not
financed by Indebtedness (other than Borrowings of Loans), other than such
Capital Expenditures (i) included within the Acquisition Amount of any Permitted
Acquisition, (ii) to the extent funded with the Net Cash Proceeds of a Casualty
Event, (iii) with respect to tenant improvements of leased Realty that are
financed by allowances provided by the lessor of such Realty, (iv) to the extent
financed with the proceeds of Asset Dispositions or (v) made after January 1,
2012, to the extent (A) financed with cash advanced to a

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Consolidated Entity prior to the date such Capital Expenditure is made or
(B) for which a Consolidated Entity was reimbursed in cash within 90 days after
such Capital Expenditure was made, in each case by a client of such Consolidated
Entity for the express purpose of making such Capital Expenditure. For purposes
of this definition, the purchase price of equipment or other fixed assets that
are purchased substantially contemporaneously with the trade-in of existing
assets shall be included in Unfinanced Capital Expenditures only to the extent
of the gross amount by which such purchase price exceeds the credit granted by
the seller of such assets for the assets being traded in at such time.”
1.2    Section 6.2(a) of the Credit Agreement is hereby amended in its entirety
as follows:

“(a)    Concurrently with each delivery of the financial statements described in
Sections 6.1(a) and 6.1(b), (i) a Compliance Certificate with respect to the
period covered by the financial statements being delivered thereunder, executed
by a Financial Officer of Crawford, together with a Covenant Compliance
Worksheet reflecting the computation of the financial covenants set forth in
Article VII as of the last day of the period covered by such financial
statements and (ii) for each Capital Expenditure made during the Reference
Period covered by the Compliance Certificate being delivered therewith which was
either (A) financed with cash advanced from a client to a Consolidated Entity
prior to the date such Capital Expenditure was made or (B) reimbursed to a
Consolidated Entity within 90 days thereafter, a report detailing (1) the date
and amount of such Capital Expenditure, (2) the name of the client for which
such Capital Expenditure was made, and (3) the date on which such client paid or
reimbursed such Consolidated Entity for such Capital Expenditure and the amount
of such payment or reimbursement;”
1.3    Section 10.10(b) of the Credit Agreement is hereby amended in its
entirety as follows:

“(b)    The Lenders hereby authorize the Administrative Agent, at its option and
in its discretion, (i) to release any Lien on any property granted to or held by
the Administrative Agent under any Credit Document (A) upon (w) termination of
the Commitments, (x) payment in full of all of the Obligations (other than
contingent and indemnification obligations not then due and payable and other
than Obligations described in the following clause (y), except as expressly set
forth therein), (y) termination of, and settlement of all obligations of all
Consolidated Entities under, all Hedge Agreements required or permitted by this
Agreement to which any Hedge Party is a party and all Cash Management Agreements
to which any Cash Management Bank is a party to the extent the terms of such
Hedge Agreements and Cash Management Agreements expressly require the
termination thereof or settlement of the obligations of any Consolidated Entity
thereunder as a result of the termination of the Credit Agreement and (z)
expiration or termination of all Letters of Credit (other than Letters of Credit
as to which other arrangements (including the posting of cash collateral)
satisfactory to the Administrative Agent and the Issuing Banks shall have been
made), (B) that is sold or otherwise disposed of or to be sold or otherwise
disposed of as part of or in connection

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with any sale or other disposition permitted under the Credit Documents or with
respect to which such Lien is not required to be maintained pursuant to the
terms of the Credit Documents or (C) subject to Section 11.5, if approved,
authorized or ratified in writing by the Required Lenders; (ii) to subordinate
any Lien on any property granted to or held by the Administrative Agent under
any Credit Document to the holder of any Lien on such property that is permitted
by Section 8.3(vii); and (iii) to release any Subsidiary Guarantor from its
obligations under the Guaranty if such Person ceases to be a Subsidiary as a
result of a transaction permitted under the Credit Documents. Upon request by
the Administrative Agent at any time, the Lenders will confirm in writing the
Administrative Agent's authority to release or subordinate its interest in
particular types or items of property, or to release any Subsidiary Guarantor
from its obligations under the Guaranty, pursuant to this Section 10.10(b).”
ARTICLE II

CONDITIONS OF EFFECTIVENESS

This Amendment shall become effective upon the receipt by the Administrative
Agent of (i) an executed counterpart hereof from each of the Borrowers and the
Required Lenders and (ii) all reasonable documented out-of-pocket expenses
required to be paid by Crawford under the Credit Agreement (including the
reasonable fees and expenses of counsel for the Administrative Agent) associated
with this Amendment.
ARTICLE III

REPRESENTATIONS AND WARRANTIES

Each Credit Party represents and warrants to the Administrative Agent and the
Lenders that (i) each of the representations and warranties of such Credit Party
contained in the Credit Agreement and in the other Credit Documents qualified as
to materiality is true and correct and each not so qualified is true and correct
in all material respects on and as of the date hereof, both immediately before
and after giving effect to this Amendment (except to the extent any such
representation or warranty is expressly stated to have been made as of a
specific date, in which case such representation or warranty shall be true and
correct as of such date); (ii) this Agreement has been duly authorized, executed
and delivered by each Credit Party and constitutes the legal, valid and binding
obligation of such Credit Party, enforceable against its in accordance with its
terms, except as enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting creditors' rights
generally, by general equitable principles or by principles of good faith and
fair dealing (regardless of whether enforcement is sought in equity or at law);
and (iii) no Default or Event of Default shall have occurred and be continuing
on the date hereof, both immediately before and after giving effect to this
Amendment.

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ARTICLE IV

ACKNOWLEDGMENT AND CONFIRMATION OF THE CREDIT PARTIES

Each Credit Party hereby confirms and agrees that, after giving effect to this
Amendment, the Credit Agreement and the other Credit Documents remain in full
force and effect and enforceable against such Credit Party in accordance with
their respective terms and shall not be discharged, diminished, limited or
otherwise affected in any respect, and represents and warrants to the
Administrative Agent and the Lenders that it has no knowledge of any claims,
counterclaims, offsets or defenses to or with respect to its obligations under
the Credit Documents, or if such Credit Party has any such claims,
counterclaims, offsets, or defenses to the Credit Documents or any transaction
related to the Credit Documents, the same are hereby waived, relinquished, and
released in consideration of the execution of this Amendment. This
acknowledgement and confirmation by the Credit Parties is made and delivered to
induce the Administrative Agent and the Lenders to enter into this Amendment,
and each Credit Party acknowledges that the Administrative Agent and the Lenders
would not enter into this Amendment in the absence of the acknowledgement and
confirmation contained herein.
ARTICLE V

MISCELLANEOUS
5.1    Governing Law. This Amendment shall be governed by, and construed in
accordance with, the law of the State of New York (including Sections 5-1401 and
5-1402 of the New York General Obligations Law, but excluding all other choice
of law and conflicts of law rules).

5.2    Full Force and Effect. Except as expressly amended hereby, the Credit
Agreement and the other Credit Documents, including, without limitation, the
Security Agreement and the Guaranty, shall continue in full force and effect in
accordance with the provisions thereof on the date hereof, and each Credit Party
ratifies and reaffirms the grant of security interests and liens granted by such
Credit Party in favor of the Administrative Agent for the benefit of the
Lenders. As used in the Credit Agreement, “hereinafter,” “hereto,” “hereof,” and
words of similar import shall, unless the context otherwise requires, mean the
Credit Agreement after giving effect to this Amendment. Any reference to the
Credit Agreement or any of the other Credit Documents herein or in any such
documents shall refer to the Credit Agreement and Credit Documents as amended
hereby. This Amendment is limited as specified and shall not constitute or be
deemed to constitute an amendment, modification or waiver of any provision of
the Credit Agreement except as expressly set forth herein. This Amendment shall
constitute a Credit Document under the terms of the Credit Agreement.

5.3    Expenses. Crawford agrees on demand (i) to pay the reasonable fees and
expenses of counsel for the Administrative Agent and (ii) to reimburse the
Administrative Agent for all reasonable documented out-of-pocket expenses
incurred by the Administrative Agent and its Affiliates, in each case, in
connection with the preparation, negotiation, execution and delivery of this
Amendment.

    

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5.4    Severability. To the extent any provision of this Amendment is prohibited
by or invalid under the applicable law of any jurisdiction, such provision shall
be ineffective only to the extent of such prohibition or invalidity and only in
any such jurisdiction, without prohibiting or invalidating such provision in any
other jurisdiction or the remaining provisions of this Amendment in any
jurisdiction.

5.5    Successors and Assigns. This Amendment shall be binding upon, inure to
the benefit of and be enforceable by the respective successors and permitted
assigns of the parties hereto.

5.6    Construction. The headings of the various sections and subsections of
this Amendment have been inserted for convenience only and shall not in any way
affect the meaning or construction of any of the provisions hereof.

5.7    Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto on separate counterparts, each of
which when so executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument. Delivery of an executed
counterpart of a signature page to this Amendment by facsimile or in electronic
format (e.g., “pdf” or “tif” file format) shall be effective as delivery of a
manually executed counterpart of this Amendment.

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their duly authorized officers as of the date first above written.
CRAWFORD & COMPANY
By:    /s/ Joseph Caporaso         

Name:    Joseph Caporaso         

Title:    SVP - Treasurer
        
CRAWFORD & COMPANY RISK SERVICES INVESTMENTS LIMITED
By:    /s/ Ian V. Muress         

Name:    Ian V. Muress         

Title:    Director         
CRAWFORD & COMPANY (CANADA) INC.
By:    /s/ Joseph Caporaso         

Name:    Joseph Caporaso         

Title:    SVP - Treasurer
    

Signature Page to First Amendment

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EXECUTED by CRAWFORD & COMPANY (AUSTRALIA) PTY. LTD. in accordance with section
127(1) of the Corporations Act 2001 (Cwlth) by authority of its directors:
By:    /s/ Ian V. Muress         

Name:    Ian V. Muress         

Title:    Director
        
By:     /s/ W. Bruce Swain         

Name:    W. Bruce Swain         
Title:    EVP - Chief Executive Officer
        

Signature Page to First Amendment

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CRAWFORD & COMPANY INTERNATIONAL, INC.
By:    /s/ Joseph Caporaso         

Name:    Joseph Caporaso         

Title:    SVP - Treasurer
        
CRAWFORD & COMPANY EMEA / A-P HOLDINGS LIMITED
By:    /s/ Ian V. Muress         

Name:    Ian V. Muress         

Title:    Director         
CRAWFORD & COMPANY ADJUSTERS LIMITED
By:    /s/ Ian V. Muress         

Name:    Ian V. Muress         

Title:    Director         
THE GARDEN CITY GROUP, INC.
By:    /s/ Joseph Caporaso         

Name:    Joseph Caporaso         

Title:    SVP - Treasurer
        

Signature Page to First Amendment

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CRAWFORD LEASING SERVICES, INC.
By:    /s/ Joseph Caporaso         

Name:    Joseph Caporaso         

Title:    SVP - Treasurer
        

Signature Page to First Amendment

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RISK SCIENCES GROUP, INC.
By:    /s/ Joseph Caporaso         

Name:    Joseph Caporaso         

Title:    SVP - Treasurer
        
BROADSPIRE SERVICES, INC.
By:    /s/ Joseph Caporaso         

Name:    Joseph Caporaso         

Title:    SVP - Treasurer
_        
BROADSPIRE INSURANCE SERVICES, INC.
By:    /s/ Joseph Caporaso         

Name:    Joseph Caporaso         

Title:    SVP - Treasurer
        
SETTLEMENT SERVICES, INC.
By:    /s/ Joseph Caporaso         

Name:    Joseph Caporaso         

Title:    SVP - Treasurer
        

Signature Page to First Amendment

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WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and a Lender
By:    /s/ Brian L. Martin     
        
Name:    Brian L. Martin         

Title:    Senior Vice President         

Signature Page to First Amendment

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BANK OF AMERICA, N.A., as a Lender
By:    /s/ Ryan Maples     
        
Name:    Ryan Maples         

Title:    Vice President             

Signature Page to First Amendment

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RBS CITIZENS, N.A., as a Lender
By:    /s/ Daniel Bernard         

Name:    Daniel Bernard         

Title:    Senior Vice President         

Signature Page to First Amendment

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FIFTH THIRD BANK, as a Lender
By:    /s/ Jonathan Janes         

Name:    Jonathan Janes         

Title:    Vice President             

Signature Page to First Amendment

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HSBC BANK USA, NA, as a Lender
By:    /s/ Peter Hart         

Name:    Peter Hart         

Title:    Vice President         

Signature Page to First Amendment

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THE NORTHERN TRUST COMPANY, as a Lender
By:    /s/ Kathryn S. Reuther         

Name:    Kathryn S. Reuther         

Title:    SVP     

Signature Page to First Amendment

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ROYAL BANK OF CANADA, as a Lender

By:    /s/ Thomas E. Paton         

Name:    Thomas E. Paton         

Title:    Authorized Signatory
    

Signature Page to First Amendment

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SUNTRUST BANK, as a Lender

By:    /s/ Peter Wesemeier         

Name:    Peter Wesemeier         

Title:    Vice President
    

Signature Page to First Amendment