Document:

Exhibit

Exhibit 10.67

[Avon Letterhead]

28, November 2016

Private and Confidential 

Jamie Wilson

Dear Jamie,

It is with great pleasure that I am able to offer you, on behalf of Avon Cosmetics Limited ("the Company"), a wholly-owned subsidiary of Avon Products, Inc. ("Avon"), the permanent position of Executive Vice President, Chief Financial Officer of Avon.  The Company is part of the Avon group of companies (“the Avon Group”).  You will report to Sheri McCoy, Chief Executive Officer of Avon and your expected commencement date will be 1 January, 2017.

The terms and conditions of your employment are set forth herein and in your contract of employment, attached hereto and incorporated in all respects. 

Your annual base salary will be £550,000, payable in accordance with the Company's remuneration practices described in your contract of employment. Although this salary is quoted on an annual basis, it does not imply a specific period of employment. 

Beginning with the 2017 performance year, you will be eligible to participate in the annual incentive program available to similarly situated Executive Vice President-level Associates. Your annual target award starting in 2017 will be 85% of your earned eligible base salary. Annual awards are contingent on relevant individual and/or business performance goals, as established by the Compensation and Management Development Committee of Avon’s Board of Directors, being achieved and the terms and conditions of the applicable annual incentive program. Annual incentive program payments, if any, are generally made early in the year following the performance period.  For the 2017 year, the value of your annual incentive award may be reduced pro-rata if your employment commencement date occurs subsequent to 1 January 2017 (subject to applicable performance measures being achieved).

You will be eligible to participate in the long-term incentive program (“LTIP”) available to similarly situated Executive Vice President-level Associates. Your first such LTIP award is expected to be granted in March 2017, subject to the terms and conditions of the applicable LTIP as to be determined by the Compensation and Management Development Committee of Avon’s Board of Directors, with an expected recommended target value of 230% of your eligible base salary.  Subsequent LTIP awards, if any, generally will be granted in March of each year, in the same form and subject to the same terms and conditions as LTIP awards for similarly situated Executive Vice President-level Associates. 

Avon reviews the annual and long-term incentive programs from time to time and reserves the right to change the applicable award mix and the design of the programs at its discretion, and all awards are subject to the terms and conditions of Avon’s applicable plan documents, as may be amended from time to time. For the avoidance of doubt, you are not eligible for any incentive awards for any time periods prior to January 1, 2017 (or, if later, the commencement date of your employment).

The Company believes strongly in a culture of ethics and compliance and you will be covered by and must comply with Avon's Code of Conduct and other policies. In particular, the Company expects all staff to respect the privacy of other individuals and protection of their personal data. This offer is subject to you agreeing and signing up to our data privacy terms, which are set out separately.

As a senior executive of Avon, you will also need to adhere to stock ownership guidelines, which encourage executive share ownership and align executive interests with those of shareholders. You will have an ownership target equal in value to three (3) times base salary and will be expected to hold 50% of net shares acquired upon vesting of equity awards until this target has been satisfied. Additionally, you will be covered by certain of Avon's policies applicable to similarly situated senior executives, such as Avon’s Compensation Recoupment Policy and Change in Control Policy. 

You represent and agree that your acceptance and execution of this offer does not conflict with or violate any of the terms, conditions or provisions of any existing contractual relations to which you are bound, and does not conflict with any duties owed or owing to your current employer.

Your employment is contingent upon you passing a satisfactory background investigation, reference checks and compliance with immigration law. As you may be aware, government regulations requires that the Company verify the employment authorisation status of all new employees. 

With your new contract you will find additional forms that you must complete:

		
	•
	Pension entitlement and enrolment

		
	•
	Bank details

		
	•
	Avon’s data privacy agreement

		
	•
	When you join Avon you will be required to access our HR system and update both your contact information and personal information.

		
	•
	You will also be required to bring a copy of your right to work documents on your first day at Avon

Please contact Gina Fitzsimons if you have any queries.

In the meantime we look forward to you joining us. 

Yours sincerely,

	
					
	/s/ Sheri McCoy
	 
	 
	 
	 

	Sheri McCoy
Chief Executive Officer
	 
	 
	 
	 

	 
	 
	 
	 
	 

cc: Susan Ormiston, Senior Vice President, Human Resources and Chief Human Resources Officer
cc: Gina Fitzsimons, Group Vice President, Human Resources, Global Compensation & Benefits & Global Functions,

Accepted and Agreed to:

	
					
	/s/ Jamie Wilson
	 
	 
	29/11/16
	 

	Jamie Wilson
	 
	 
	Date
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

 
Contract of Employment

This statement contains the main terms and conditions of your employment with Avon Cosmetics Limited (“The Company”), for the position of Executive Vice President, Chief Financial Officer of Avon Products, Inc.

Please ensure you read and understand this document.   If you have any queries relating to your employment please contact the Human Resources Department.

	
				
	Surname:
	Wilson

	Forename:
	Jamie

	Address of Employee:
	TBC

	Post code:
	TBC

	Job Title:
	Executive Vice President, Chief Financial Officer of Avon Products, Inc.

	Reporting to:
	Chief Executive Officer

	Grade:
	A02+

	

Effective Date:

Continuity of Employment:

Salary:
	

1 January 2017

No previous service counts towards your continuity of employment.

£550,000 per annum

	Annual Incentive Programme:
	As stated in your offer letter, beginning with the 2017 performance year you will be eligible for the annual incentive programme available to similarly situated Executive Vice President level associates, with a target level of 85% of earned eligible base salary.  The actual amount of bonus awarded is contingent on relevant individual and/or business performance goals, as determined by Avon, being achieved and the terms and conditions of the applicable annual incentive program. The payment of bonus and the rules of the scheme are at Avon’s discretion and are subject to change. Details of the bonus scheme will be supplied annually.

	 
	 

	
				
	Long Term Incentive Plan: 
	As stated in your offer letter, you will be eligible to participate in the long-term incentive plan available for similarly situated associates at your level, with your first such award expected to be granted in March 2017, subject to the terms and conditions of the applicable plans and program as to be determined by Avon, with an expected recommended target value of 230% of your eligible base salary.   Further details of the scheme are available on request.  Please note the terms of the scheme are subject to change.

	Working hours:
	Weekly hours: 37.5 plus such additional hours as are necessary for the proper performance of your duties.  You acknowledge that you shall not receive further remuneration in respect of such additional hours.

	Location:
	You will be based at Avon’s corporate headquarters in the Chiswick Park, UK.  You may be required to work at other Avon sites from time to time.

	Remuneration:
	Method of Payment
You will be paid monthly in arrears by or on the last working day of each month by direct credit transfer to your bank or building society account.

Basic Pay Review
Your basic pay will be reviewed annually based on performance.

Deductions
The Company reserves the right to make deductions from your pay in the event of any monies owing to the Company such as:

-parking fines, 
-training and development costs, 
-overdue hire car costs, 
-monies owing to Representatives for which the Company may be liable, 
-any petty cash or ‘float’ provided to you by the company, 
-in cases where payments have been made to you in error

This list is not exhaustive.

	Normal Working Pattern:
	The Company operates in accordance with the Working Time Regulations 1998.  If you require further information please refer to the Company Working Hours Policy held electronically on the HR website.

	
				
	Flexibility:
	Avon will expect you to perform all reasonable tasks assigned to you during the course of your employment which it believes you are competent to perform; you will be required to be flexible in your job responsibilities and to react to the needs of the business.  This means that you may be required to:
1.  vary your working hours
2. to travel on the Company's business (both within the United Kingdom or abroad) as may be required for the proper performance of your duties under the appointment
3. carry out duties which may be outside the scope of your normal responsibilities but which you are competent to perform.

The Company will give reasonable notice for any changes with regard to occasional travel that might affect you and will always strive at a very minimum to provide 48 hours’ notice. During your employment, you will not be required to work outside the United Kingdom for any continuous period of more than one month.

	Private Medical Insurance:
	You will be eligible for private medical cover for yourself and up to family cover, depending on your personal circumstances

If you wish to join the scheme you can do so by using our Flexible Benefits system, UP2U.  You will receive confirmation of the website and access details shortly after joining the Company.
Further changes to your PMI subscription can only be made once a year when the UP2U ‘window’ is opened to all eligible employees or if a ‘lifestyle event’ (marriage/divorce/birth of child) occurs.
Please note PMI is a benefit which is taxable at source.

	Company Sick Pay:
	The Company operates a Company Sick Pay Scheme for the benefit of its employees which is in addition to Statutory Sick Pay entitlement. All payments made under this company scheme are at the sole discretion of the Company.  Please refer to the Company Sickness Absence Policy which outlines the circumstances in which Company sick pay may be withheld.

	 
	Service with Avon
	Entitlement

	 
	0-1 year
	4 weeks

	 
	1-2 year
	8 weeks

	 
	2-5 years
	16 weeks

	 
	5+ years
	26 weeks

	 
	 
	 

	Pension Scheme:
	Avon operates an employee contributory pension scheme which is open to all permanent and fixed term employees.  Under current Auto Enrolment legislation Avon is required to automatically enroll employees who meet certain criteria into a qualifying scheme. Full details of the current Avon Pension Scheme, the 

	 
	 
	 

	
				
	 
	enrolment criteria and how Auto Enrolment is applied can be found in the enclosed pension documents.  
For tax purposes, the Pension Input Period in the Avon Cosmetics Pension Plan ends on 31st March each year.

	Company Car:
	You are eligible for a Company Car at the benchmark
level for your grade or an annual cash equivalent of
£15,252, subject to normal deductions. 

You will be provided separately with a copy of the Company Car policy.

Further details can be obtained from the Car Fleet department on 01604 618986.

	Holiday Entitlement:
	The Company’s holiday year runs from 1 January to 31 December.  You are entitled to 28 days holiday per year plus 8 public holidays.
An employee will accrue holiday from the day their employment with Avon starts.  
At the conclusion of your employment, you will be paid for any accrued but untaken holiday.  
Holiday entitlement on termination will be calculated according to the percentage of the year worked i.e. as the number of days worked divided by 365 (366 for a leap year). 
Should you have taken in excess of your accrued entitlement the company may deduct the cash equivalent from your final salary.
At the Company’s discretion you may be required to reserve several days of your holiday entitlement.  You will be notified of any such requirement in advance on an annual basis.

	Flexible Benefits:
	The Company operates a self-service electronic flexible benefits scheme called UP2U. Shortly after joining the Company you will be sent details of Avon’s UP2U scheme which will allow you to opt into the Private Medical Scheme and to purchase childcare vouchers at that time. 
Following this there are annual enrolments for the flexible benefits scheme.  Enrolment details will be sent to you at this time.  

	Notice Period:
	In the event of involuntary termination (other than for cause) the Company agrees to pay you the equivalent of 24 months’ base salary, on the basis that you enter into an appropriate settlement agreement with the Company which shall include for example a general release of claims, non-competition and non-solicitation provisions and other covenants.

In all other circumstances, you are entitled to receive and you must give the Company twelve (12) months’ notice to terminate your employment. The Company, in its sole and absolute discretion, reserves the right to pay base salary in lieu of notice.  If the Company elects 

	
				
	 
	not to pay you in lieu of your notice, then you will be required to work during your notice period. If you fail to give notice to the Company, or give incorrect notice, the Company shall be entitled to withhold a sum from any monies due to you equivalent to the value of the salary you would have been entitled to during the unworked notice period.

The Company reserves the right to terminate your employment without notice or salary in lieu of notice in accordance with the Disciplinary Procedure. 

 For the purposes of this clause, a termination “for cause” shall mean a termination by the Company because of your (a) continued failure to perform substantially your duties; (b) your wilful failure to perform substantially your duties or other wilful conduct that is materially detrimental to the Company; (c) your personal dishonesty in the performance of your duties; (d) your breach of fiduciary duty involving personal profit; (e) your commission or conviction of a felony or misdemeanour or pleading guilty to a felony or misdemeanour; (f) your wilful or significant violation of any Avon rule or procedure, including without limitation, absenteeism, violation of safety rules or insubordination; or (g) violation of the Code of Conduct.  All determinations of whether any of the vents above have occurred and/or whether cause shall have occurred will be determined by the Company in its sole discretion.

	Garden Leave:

	The Company reserves the right to require you not to attend your place of work for all or part of your notice period, in its absolute discretion.  This period is referred to as “Garden Leave”.  During Garden Leave:
(a)  the Company shall be under no obligation to provide any work to you and may revoke any powers you hold on behalf of the Company (or any group company);
(b) the Company may require you to carry out alternative duties or to only perform such specific duties as are expressly assigned to you, at such location (including your home) as the Company may decide;
(c) you will be continue to receive your basic salary and normal contractual benefits in the usual way and subject to the terms of any benefit arrangement;
(d) you shall remain an employee of the Company and bound by the terms of this agreement (including any implied duties of good faith and fidelity); and
(e) the Company may exclude you from any premises of the Company (or any group company).

Any accrued but unused holiday entitlement shall be deemed to be taken during any period of Garden Leave.

	Company Equipment:
	If you are allocated any Company equipment and  your employment is terminated for whatever reason, unless otherwise agreed in writing, you must 

	
				
	 
	immediately return all company equipment in good working order as received by you.
Deductions may be made from any final payments for any associated loss or damage.

	Code of Conduct:
	Some examples are outlined below, however this is not exhaustive and you should refer to the Code of Conduct on the Avon Global Website for further guidance.

	Code of Conduct - Gifts:
	The exchange of gifts is often used as a way to enhance business relationships, and within the guidelines stated in Avon’s Code of Conduct and Ethics, this is an acceptable practice. Avon permits gifts only of “nominal value,” such as meals, fruit baskets, and bottles of wine, flowers, chocolates/candies, tickets to occasional sporting events or concerts, and other routine gifts. 

Any gifts of greater than nominal value or that otherwise exceed the common courtesies associated with ethical business practices could give the appearance of impropriety and must not be accepted. Examples of gifts that are not permitted include vendor-sponsored trips, vacations, luxury leather accessories, electronics or sporting equipment. Cash and/or loans of any amount are strictly prohibited at all times. 

These same standards apply to associates of all levels within the company. If there is any question as to whether or not the value of an offered gift is more than nominal, consult with your Manager or HR. 

	Code of Conduct - Conflict of Interest:
	In line with Avon’s Code of Conduct and Ethics, employees have an obligation to act in the best interest of the Company. Conflicts of interest are prohibited, which means that no employee should place himself or herself in a situation in which personal interest might conflict with the interest of the Company. A breach of these rules may lead to disciplinary action.

A “conflict of interest” occurs when an associate’s private or family interest interferes in any way, or even appears to interfere, with the interest of the Company. A conflict of interest can arise when an associate takes an action or has an interest that may make it difficult for him or her to perform his or her work objectively and effectively.

	Code of Conduct - Other Interests:
	You should not engage directly or indirectly in any business or employment if, in the reasonable opinion of the Company, this work may have an adverse effect upon the performance of your duties for the Avon Group.

	
				
	Inventions and Improvements:
	 
	Any invention, design or improvement upon any existing invention, product or work during the course of your employment will belong to the Company.  This includes any computer programme or design whether or not it is capable of patent registered design, design right, database, copyright or any other similar protection, and whether you made or discovered it alone or in conjunction with anybody else.  You must immediately tell your Line Manager of any such invention or improvement.

If the Company asks you to do so, you must comply with any requests that it makes in order to ensure that the invention or improvement becomes or remains the property of the Company or its nominee.

	Confidential Information:
	 
	You must not (at any time) either during or at any time after the termination of your employment:
-divulge, disclose or communicate any confidential Information to any person or persons, firm or company other than duly authorised employees of the Company
or
-use any confidential information for your own purposes or for any purposes other than those of the Company.

You must at all times exercise utmost care, attention and discretion in handling any confidential information relating to the Company or personal information relating to an individual of which you are aware.

For the purposes of this clause, confidential information includes any of the below which are not in the public domain:
-information in whatever form relating to the organisation
-business plans
-finances
-transactions
-terms of business
-marketing strategies
-sales
-customers and prospective customers
-suppliers
-design and manufacturing process
-technical specifications
-private affairs of the Company
-personal information relating to an individual
-other information of a confidential nature

	Data Protection and Privacy:
	 
	All information within the Avon Group is processed in accordance with the requirements of the Data Protection Act. The Company expects all staff to respect the privacy of other individuals and protection of their personal data.   Your offer of employment is 

	
				
	 
	 
	subject to you agreeing and signing up to our data privacy terms.

	Right to Search:
	 
	To help the Company provide a safe environment and to deter criminal, obscene, pornographic or defamatory acts.  While on Company premises or while using company equipment, the Company has the right to carry out:
-Searches of your person, personal
  belongings and vehicle without notice in
  accordance with Company guidelines.
-Drug, drink and substance checks without
  notice, in line with the Misuse of Drugs
  and Alcohol policy.
-Video surveillance.
-Monitoring of electronic communications
  on private or public lines, such as email.

Failure to comply will lead to disciplinary action and      may lead to dismissal.

	Key Company Policies:
	 
	The following policies are available on the HR website:
Grievance Policy
Performance Capability Policy
Disciplinary Policy
Sickness Absence Policy

	Medical Examinations:
	 
	The Company may require a medical report to enable it to make decisions regarding your employment, e.g. in cases of ill-health.  The Company may require you to undergo a medical examination by its medical advisor.   In addition, you will be expected to provide the Company’s health professional with information about your medical condition as it may reasonably require.  This is in order to ensure your state of health enables the Company to act within both yours and the Company’s best interest. 
You may be asked in specific circumstances to consent to the Company contacting your doctor and to his or her discussing your medical condition and history with us or a doctor nominated by the Company.

	Collective Agreement:
	 
	There is no collective agreement which directly affects your employment.

	Variations to Terms and Conditions:
	 
	The Company reserves the right to change the terms and conditions of your employment from time to time to take into account Company policy, the needs of the business and/or new legislation.  This may include implementation of new policies and procedures as they become necessary to meet the needs of the business.  

Reasonable notice will be given when this occurs.

	Entire Agreement

	 
	This agreement and the offer letter constitutes the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and

	 
	 
	 

	
				
	 
	 
	understandings between them, whether written or oral, relating to its subject matter.  Each party acknowledges that in entering into this agreement it does not rely on and shall have no remedies in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this agreement.

	Governing Law
	 
	This agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales.

	Jurisdiction
	 
	Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this agreement or its subject matter or formation.

I confirm that I agree with the terms and conditions set out in this Contract of Employment and agree to be bound by the rules of the Company and Avon policies:

Name: __Jamie Wilson___________________

Signed: /s/ Jamie Wilson_________________

Date: ___29/11/16______________________

Signed on Behalf of the Company 

	
		
	

Name: _Susan Ormiston_________________

Signed: /s/ Susan Ormiston _____________

Date: __29/11/16_______________________
	
Name: _Alastair Judge _________________

Signed: /s/ Alastair Judge _____________

Date: __29/11/16________________________Exhibit

Exhibit 10.23

EQUIFAX
DIRECTOR AND EXECUTIVE STOCK DEFERRAL PLAN
(As Amended and Restated Effective as of January 1, 2015)
Equifax Inc., a Georgia corporation (the “Company”), established the Director and Executive Stock Deferral Plan, effective January 1, 2003, for the purpose of attracting high quality executives and directors and promoting in its key executives and directors increased efficiency and an interest in the successful operation and performance of the Company.
Because the laws applicable to deferred compensation plans, such as the Plan, were significantly changed effective January 1, 2005, the Company amended and restated the Plan to provide certain new rules for amounts deferred under the Plan on or after January 1, 2005.  Amounts deferred under the Plan prior to January 1, 2005 (and any earnings thereon) continue to remain subject to the prior terms and conditions of the Plan, including the payment rules.  The Plan has been amended from time to time and is being amended and restated as set forth herein effective January 1, 2015 (“Effective Date”).
ARTICLE 1 
 
Definitions
1.1    Account shall mean the records maintained by the Administrator to determine the Participant’s deferrals under this Plan.  Such Account may be reflected as an entry in the Company’s records, or as a separate account under a trust, or as a combination of both.  The Administrator may establish such subaccounts as it deems necessary for the proper administration of the Plan.  For purposes of certain provisions of the Plan, the Participant’s Account shall be divided between a Pre-Section 409A Account and a Section 409A Account.
1.2    Administrator shall mean the person or persons appointed by the Board of Directors of the Company (or its designee) to administer the Plan pursuant to Article 10 of the Plan.
1.3    Beneficiary shall mean the person(s) or entity designated as such in accordance with Article 9 of the Plan. 
1.4    Change in Control shall mean any of the following events:
(a)    Voting Stock Accumulations.  The accumulation by any Person of Beneficial Ownership of twenty percent (20%) or more of the combined voting power of the Company’s Voting Stock; provided that for purposes of this subparagraph (a), a Change in Control will not be deemed to have occurred if the accumulation of twenty percent (20%) or more of the voting power of the Company’s Voting Stock results from any acquisition of Voting Stock (i) directly from the Company that is approved by the Incumbent Board, (ii) by the Company, (iii) by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Subsidiary, or (iv) by any Person pursuant to a Business Combination that complies with all of the provisions of clauses (i), (ii) and (iii) of subparagraph (b); or

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(b)    Business Combinations.  Consummation of a Business Combination, unless, immediately following that Business Combination, (i) all or substantially all of the Persons who were the beneficial owners of Voting Stock of the Company immediately prior to that Business Combination beneficially own, directly or indirectly, more than sixty-six and two-thirds percent (662/3%) of the then outstanding shares of Common Stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of Directors of the entity resulting from that Business Combination (including, without limitation, an entity that as a result of that transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions relative to each other as their ownership, immediately prior to that Business Combination, of the Voting Stock of the Company, (ii) no Person (other than the Company, that entity resulting from that Business Combination, or any employee benefit plan (or related trust) sponsored or maintained by the Company, any Eighty Percent (80%) Subsidiary or that entity resulting from that Business Combination) beneficially owns, directly or indirectly, twenty percent (20%) or more of the then outstanding shares of common stock of the entity resulting from that Business Combination or the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of that entity, and (iii) at least a majority of the members of the Board of Directors of the entity resulting from that Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for that Business Combination; or
(c)    Sale of Assets.  Consummation of a sale or other disposition of all or substantially all of the assets of the Company; or
(d)    Liquidations or Dissolutions.  Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company, except pursuant to a Business Combination that complies with all of the provisions of clauses (i), (ii) and (iii) of subparagraph (b).
(e)    Definitions.  For purposes of this paragraph defining Change in Control, the following definitions shall
(i)    Beneficial Ownership shall mean beneficial ownership as that term is used in Rule 13d-3 promulgated under the Exchange Act.
(ii)    Business Combination shall mean a reorganization, merger or consolidation of the Company.
(iii)    Eighty Percent (80%) Subsidiary shall mean an entity in which the Company directly or indirectly beneficially owns eighty percent (80%) or more of the outstanding Voting Stock.
(iv)    Exchange Act shall mean the Securities Exchange Act of 1934, including amendments, or successor statutes of similar intent.
(v)    Incumbent Board shall mean a Board of Directors at least a majority of whom consist of individuals who either are (a) members of the 

2

Company’s Board of Directors as of December 1, 2007 or (b) members who become members of the Company’s Board of Directors subsequent to December 1, 2007 whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least two-thirds (2/3) of the directors then comprising the Incumbent Board (either by a specific vote or by approval of the proxy statement of the Company in which that person is named as a nominee for director, without objection to that nomination), but excluding, for that purpose, any individual whose initial assumption of office occurs as a result of an actual or threatened election contest (within the meaning of Rule 14a-11 of the Exchange Act) with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors.
(vi)    Person shall mean any individual, entity or group (within the meaning of Section 13(d)(3) or 14 (d)(2) of the Exchange Act).
(vii)    Voting Stock shall mean the then outstanding securities of an entity entitled to vote generally in the election of members of that entity’s Board of Directors.
1.5    Code shall mean the Internal Revenue Code of 1986, as amended.
1.6    Company shall mean Equifax Inc., a Georgia corporation or its successor.
1.7    Common Stock shall mean the common voting stock of the Company.
1.8    Deferred Stock shall mean Common Stock, the receipt of which the Participant has agreed to defer pursuant to Article 2 of this Plan.
1.9    Disability shall be defined as eligibility to receive benefits under the Company’s Long Term Disability Plan as in effect at the time of such Disability.  If no such plan is then in effect, Disability shall mean a physical or mental condition which prevents the Participant from performing the normal duties of his or her current position for a period of at least one hundred eighty (180) consecutive days.  The determination of Disability shall be made in a manner consistent with the requirements of Section 409A.
1.10    Eligible Executive shall mean an executive of an Employer selected by the Administrator to be eligible to participate in the Plan.
1.11    Employer shall mean the Company and any Subsidiary whose employees are designated as eligible to participate in the Plan.
1.12    ERISA shall mean the Employee Retirement Income Security Act of 1974, as amended.
1.13    Financial Hardship shall mean an unexpected need for cash arising from illness, casualty loss, sudden financial reversal, or other such unforeseeable occurrence which is not 

3

covered by insurance and which is determined to qualify as a Financial Hardship by the Administrator. Cash needs arising from foreseeable events such as the purchase of a residence or education expenses for children shall not, alone, be considered a Financial Hardship.  The Administrator shall make its determination of Financial Hardship in a manner consistent with the requirements of Section 409A.
1.14    Participant shall mean an Eligible Executive who has elected to participate and has completed a Participant Election Form pursuant to Article 2 of the Plan.
1.15    Participant Election Form shall mean the written agreement submitted by the Participant to the Administrator on a timely basis pursuant to Article 2 of the Plan. The Participant Election Form may take the form of an electronic communication followed by appropriate written or electronic confirmation according to specifications established by the Administrator.
1.16    Payment Date shall mean the date on which the Restricted Stock Units are no longer subject to a substantial risk of forfeiture under the terms of the Stock Incentive Plan and, absent a deferral election under this Plan, shares of Common Stock would first become payable to the Participant pursuant to the RSU, as determined by the Administrator.
1.17    Plan Year shall mean the calendar year.
1.18    Pre-Section 409A Account means the portion (if any) of the Participant’s Account that was credited to the Participant as of December 31, 2004 and vested in the Participant, and any earnings thereon.  The Participant’s Pre-Section 409A Account shall be payable in accordance with Articles 4 and 6.
1.19    Restricted Stock Units ("RSUs") shall mean an award pursuant to a Stock Incentive Plan of the right to receive shares of Common Stock at the end of a specified period.
1.20    Retirement shall mean a Participant’s Termination of Employment on or after the Retirement Eligibility Date except that with respect to a Participant who is a non-employee director, Retirement shall mean termination of service as a member of the Board of Directors of the Company.
1.21    Retirement Eligibility Date shall mean the date on which the Participant has both attained age fifty-five (55) and completed at least five (5) Years of Vesting Service.
1.22    Scheduled Withdrawal shall mean the distribution elected by the Participant pursuant to Article 6 of the Plan.
1.23    Section 409A shall mean Section 409A of the Code, as it may be amended from time to time, and the regulations and rulings thereunder.
1.24    Section 409A Account shall mean the portion of the Participant’s Account that is not a Pre-Section 409A Account.  The Participant’s Section 409A Account shall be payable in accordance with Articles 4 and 6.

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1.25    Settlement Date shall mean the date by which a lump sum payment shall be made or the date by which installment payments shall commence. Unless otherwise specified, the Settlement Date shall be in the month following the month in which the event triggering the payout occurs. 
1.26    Stock Incentive Plan shall mean the Equifax Inc. Omnibus Incentive Plan, each prior equity plan sponsored by the Company, and each such other equity plan sponsored by the Company as may be designated by the Administrator.
1.27    Subsidiary shall mean any corporation in an unbroken chain of corporations, beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.  The term “Subsidiary” shall also include a partnership or limited liability company in which the Company or a Subsidiary owns 50% or more of the profits interest or capital interest.
1.28    Termination of Employment shall mean the date of the Participant’s separation from service (as determined in accordance with Section 409A) with the Employer for any reason whatsoever, whether voluntary or involuntary, including as a result of the Participant’s Retirement, Disability or death.
1.29    Unscheduled Withdrawal shall mean a distribution elected by the Participant with respect to his Pre-Section 409A Account pursuant to Article 7 of the Plan.
1.30    Valuation Date shall mean the date the Participant’s Account is valued and shall be the last day of the month preceding the month in which the payout or other event triggering the valuation occurs or such other date as determined by the Administrator.
1.31    Withdrawal Penalty shall mean the ten percent (10%) penalty deducted from an Account as a result of an Unscheduled Withdrawal or a change in the form of payout within thirteen (13) months prior to Termination of Employment as provided in Section 4.1(b) of the Plan.
1.32    Years of Vesting Service shall mean the years of vesting service credited to the Participant under the Equifax Inc. 401(k) Plan, as amended.
ARTICLE 2     
 
Participation
2.1    Deferral of RSUs. An Eligible Executive may make an election that is irrevocable at least 12 months prior to the Payment Date of all or, if permitted by the Administrator, a portion of an award of RSUs to delay receipt of shares of Common Stock subject to such RSUs and to instead receive rights to Deferred Stock under this Plan.  By making an election to delay receipt of the shares subject to the RSUs, the Eligible Executive is irrevocably agreeing to delay receipt of the stock certificates for the Deferred Stock, to forfeit any dividends that may become payable on the Deferred Stock after the Payment Date and prior to the date the Deferred Stock is 

5

delivered to the Participant and to stand in the position of an unsecured general creditor with respect to any right to receipt of the Deferred Stock under this Plan.
2.2    Participant Election Form.  In order to make an election, an Eligible Executive must submit a Participant Election Form to the Administrator within the time period specified by the Administrator in accordance with Section 2.1 above.  The requirements regarding the form and timing of such election shall be interpreted and applied by the Administrator in its complete and sole discretion. The Administrator may change the timing of such election, limit the number or type of shares available to be deferred by any Participant or group of Participants, or subject to Section 409A, cancel an election.
2.3    Election Irrevocable. The election to defer shares subject to RSUs under this Plan shall be irrevocable except as provided in Section 4.5 in the event of Financial Hardship.  
ARTICLE 3     
 
Rights Associated With Deferred Stock
3.1    Participant Accounts.  Solely for recordkeeping purposes, separate Accounts (a Retirement Account and any Scheduled Withdrawal Accounts) shall be maintained for each Participant and shall be credited with the Participant’s deferrals directed by the Participant to each Account at the time such amounts would otherwise have been paid to the Participant.  The Participant will designate for each deferral of shares subject to RSUs which portion of the Participant’s deferrals for such Plan Year shall be credited to the Participant’s Retirement Account and any Scheduled Withdrawal Account the Participant has elected to establish.  Amounts credited to a Participant’s Account shall be fully vested at all times.
The Administrator shall provide such additional payment elections to Participants (including Participants who are no longer active employees or otherwise do not actively participate in the Plan) with respect to amounts credited to the Plan pursuant to this Section 3.1 as are consistent with Section 409A, including the transition rules.
3.2    No Dividend or Voting Rights.  A Participant shall have no right to dividends and no voting rights, and, except as expressly provided in the Plan, shall have no other rights against the Company or an Employer by reason of the crediting of the Deferred Stock.
3.3    Share Adjustments. Nothing contained in this Plan nor any action taken hereunder shall be construed as limiting the rights of the Company to credit additional Deferred Stock or issue additional Common Stock even though such issuances may dilute the value of outstanding Deferred Stock. If the outstanding shares of Common Stock of the Company are increased, decreased, changed into or exchanged for a different number or kind of shares of the Company through reorganization, recapitalization, reclassification, stock dividend, stock split or reverse stock split, upon authorization of the Board of Directors of the Company, an equitable adjustment shall be made in the number or kind of Deferred Stock which may be purchased or issued in the aggregate and to individual Participants under the Plan; provided, however, that (except with respect to a stock split or reverse stock split) no such adjustment need be made if upon the advice of counsel, the Administrator determines that such adjustment may result in the 

6

receipt of federally taxable income to Participants hereunder or to the holders of Common Stock or other classes of the Company’s securities. In all cases, the nature and extent of adjustments under this Section shall be determined by the Administrator in its sole discretion, and any such determination as to what adjustments shall be made, and the extent thereof, shall be final and binding. No fractional shares of stock shall be issued under the Plan pursuant to any such adjustment. All adjustments and actions described in this Section shall be subject to compliance with the requirements of all applicable securities laws, rules, and regulations.
3.4    Statement of Accounts. The Administrator shall provide or make available to each Participant with statements at least quarterly setting forth the amount of Deferred Stock in the Participant’s Account at the end of each quarter.
ARTICLE 4    
Retirement Benefits
4.1    Retirement Benefits.  (%3) Section 409A Account - In the event of the Participant’s Retirement or Disability, the Participant shall be entitled to receive a distribution of shares of Common Stock of the Company equal to the amount of Deferred Stock credited to the Participant’s Section 409A Account as of the Valuation Date.  The benefits shall be paid in a single lump sum unless the Participant has elected at the time of deferral (or in accordance with the transition rules of Section 409A) to have the shares of Common Stock paid in substantially level annual installments over a specified period of not more than fifteen (15) years.  Notwithstanding the previous sentence, if an election to defer shares with respect to an award of RSUs was made more than 30 days after the date such RSUs were granted (or when the Participant had already attained his Retirement Eligibility Date), no Deferred Shares with respect to such RSUs may be paid prior to the date five years after the original Payment Date with respect to such RSUs. Payments shall begin on the Settlement Date following Retirement, and, if applicable, subsequent installment payments (and payments with respect to Deferred Shares held to meet the five-year deferral requirement) shall be made on the anniversaries of the Settlement Date.  A Participant may, not less than twelve (12) months prior to Retirement, elect to change the method of payment of the Participant’s Section 409A Account at Retirement, provided that (i) only one such change is permitted and after such election change, the election is irrevocable; (ii) the payment date (or payment commencement date) for the Participant’s Section 409A Account will be deferred for 5 years after Retirement, and (iii) the election shall not become effective for 12 months.  The change of election shall be made through a method established by the Plan Administrator.   
(a)    Pre-Section 409A Account - In the event of the Participant’s Retirement or Disability, the Participant shall be entitled to receive a distribution of shares of Common Stock of the Company equal to amount of Deferred Stock credited to the Participant’s Pre-Section 409A Account as of the Valuation Date.  The distribution shall be in a single lump sum unless the Participant makes a timely election prior to Retirement to divide the Deferred Stock into equal annual installments distributed over a specified period of not more than fifteen (15) years. Payments shall begin on the Settlement Date following Termination of Employment. An election to change the form of payout may be made at any time prior to Termination of Employment by submitting to the Administrator the form provided for such purpose, but elections shall not be 

7

effective unless made no less than thirteen (13) calendar months prior to Termination of Employment. Notwithstanding the foregoing, the Participant may elect to have the new election take effect less than thirteen (13) months prior to Termination of Employment, subject to a Withdrawal Penalty of ten percent (10%) of the value of the Pre-Section 409A Account balance forfeited to the Company.
4.2    Termination Benefit. Upon Termination of Employment other than by reason of Retirement, Disability or death, the Participant shall be entitled to receive a distribution of shares of Common Stock of the Company equal to the amount of Deferred Stock credited to the Participant’s Account as of the Valuation Date. The distribution shall be in a single lump sum on the Settlement Date following Termination of Employment; provided, however, if an election to defer shares with respect to an award of RSUs was made more than 30 days after the date such RSUs were granted (or when the Participant had already attained his Retirement Eligibility Date), the Deferred Shares with respect to such RSUs may not be paid prior to the date five years after the original Payment Date with respect to such RSUs.  Any such Deferred Shares not payable on the Settlement Date following Termination of Employment shall be paid on the anniversary of the Settlement Date after the five-year deferral requirement has been satisfied.  The Company may, in its sole discretion with respect to the Participant’s Pre-Section 409A Account, elect to divide the Deferred Stock into equal annual installments distributed over a period of three (3) years beginning on the Settlement Date following Termination of Employment.
4.3    Small Benefit Exception.  Notwithstanding the provisions of Section 4.1, if the value of the Participant’s Account upon Retirement is less than or equal to fifty thousand dollars ($50,000), the Company shall pay such benefits in a single lump sum payable on the last day of the month in which such benefits first become payable.  Notwithstanding the previous sentence, if an election to defer shares with respect to an award of RSUs was made more than 30 days after the date such RSUs were granted (or when the Participant had already attained his Retirement Eligibility Date), no Deferred Shares with respect to such RSUs may be paid prior to the date five years after the original Payment Date with respect to such RSUs. 
4.4    Special Rule for Specified Employees.  Notwithstanding any other provision of this Plan, if the Participant is a Specified Employee (as determined by the Administrator or its designee in accordance with procedures established by the Administrator that are consistent with Section 409A), distributions of such Participant’s Section 409A Account on account of the Participant’s Termination of Employment may not be made before the date that is 6 months after the date of the Participant’s Termination of Employment (or, if earlier, the date of death of the Participant), and any distribution that would otherwise be payable before the 6-month anniversary shall be delayed and shall be paid within 30 days following such 6-month anniversary.
4.5    Financial Hardship Distribution.  Upon a finding by the Administrator that the Participant (or, after the Participant’s death, a Beneficiary) has suffered a Financial Hardship, the Administrator may authorize a distribution of benefits under the Plan in the amount reasonably necessary to alleviate such Financial Hardship.  Such distribution shall not exceed the dollar amount necessary to satisfy the Financial Hardship plus amounts necessary to pay taxes 

8

reasonably anticipated as a result of the distribution, after taking into account the extent to which the Financial Hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself cause Financial Hardship).  In the event of a distribution from the Plan based on Financial Hardship, a Participant’s previous deferral elections with respect to RSUs with Payment Dates after the date of the distribution for Financial Hardship shall be canceled, and the Participant shall not be allowed to make a new deferral election until the enrollment period next following one full calendar year from the date of such distribution.
4.6    Consequences of a Change in Control.  Upon the occurrence of a Change in Control, each Participant’s Account shall remain subject to the Plan’s payment provisions and  the Participant’s elections as to the time and method of payment (subject to the Company’s rights to amend or to terminate the Plan in accordance with Article 8 or in accordance with Section 409A).
ARTICLE 5     
 
Death Benefits
5.1    Survivor Benefit Before Benefits Commence.  If the Participant dies prior to commencement of benefits under Article 4, the Participant’s Beneficiary shall be entitled to receive a distribution of shares of Common Stock of the Company equal to the amount of Deferred Stock credited to the Participant’s Account as of the Valuation Date. The death benefit shall be paid in the same form elected by the Participant for Retirement benefits under Article 4.1 beginning on the Settlement Date following the date of the Participant’s death (or as soon thereafter as such death is established by reasonable documentation). However, the Administrator may, in its complete and sole discretion, change the form of distribution of the death benefit attributable to the Participant’s Pre-Section 409A Account prior to the Settlement Date upon which benefits are scheduled to commence.
5.2    Survivor Benefit After Benefits Commence. If the Participant dies after benefits have commenced under Article 4, the Company shall pay to the Participant’s Beneficiary the remaining Deferred Stock payable to the Participant under the Plan over the same period such amounts would have been paid to the Participant. However, the Administrator may, in its complete and sole discretion, change the form of distribution of the death benefit attributable to the Participant’s Pre-Section 409A Account prior to the commencement of payments to the Beneficiary.
ARTICLE 6     
 
Scheduled Withdrawal 
6.1    Election. The Participant may make an election on the Participant Election Form at the time of making a deferral to establish a Scheduled Withdrawal Account for payment of Deferred Stock from the Account. The Participant may elect to receive a Scheduled Withdrawal in any month and year that is more than five (5) years after the Payment Date applicable to the RSUs to which the election applies, and may elect to have the Scheduled Withdrawal distributed 

9

in a single lump sum or to divide the Deferred Stock into equal annual installments distributed over a period of up to five (5) years. The Participant may establish separate Scheduled Withdrawal Accounts with different Scheduled Withdrawal dates.  The Scheduled Withdrawal date and form of payout elected for a Scheduled Withdrawal Account shall be irrevocable, except that (a) with respect to amounts that are credited to the Pre-Section 409A Account a Participant may petition to the Administrator once no less than thirteen (13) months prior to the date originally elected for the Scheduled Withdrawal to defer (but not accelerate) the Scheduled Withdrawal date and/or to change the form of payout of the Scheduled Withdrawal to an alternative payout period then available for Scheduled Withdrawals under the Plan, [and (b) with respect to amounts credited to the Section 409A Account, a Participant may, not less than twelve (12) months prior to the payment dates of any Scheduled Withdrawal Accounts he has established under this Section 6.1, elect to defer the date on which payment of any Scheduled Withdrawal Account shall commence and/or change the method of payment of such Scheduled Withdrawal Account, provided that, (i) after the initial election under this Section 6.1, a Participant may only make one election change with respect to a particular Scheduled Withdrawal Account (after such election change, the election shall become irrevocable); (ii) except as otherwise permitted by Section 409A, the first in-service payment with respect to such changed election must be deferred at least five (5) years from the date such payment would otherwise have been made, (iii) except as otherwise permitted by Section 409A, the election shall not become effective for twelve (12) months.
6.2    Timing of Scheduled Withdrawal. The Scheduled Withdrawal payment shall be paid (or commence to be paid) by the Company to the Participant within 30 days following the end of the month and calendar year the Participant has elected on the Participant Election Form to receive such Scheduled Withdrawal (and if applicable, subsequent annual payments shall be made within 30 days following the end of such month of subsequent calendar years), unless preceded by Termination of Employment. In the event of Termination of Employment prior to complete payment of the Scheduled Withdrawal, the Scheduled Withdrawal (or the remaining balance thereof) shall be paid in the form provided in Article 4 of the Plan. In the event such Termination of Employment is as a result of the Participant’s death prior to complete payment of the Scheduled Withdrawal, the Scheduled Withdrawal shall be paid as provided in Section 5.1 of the Plan.
ARTICLE 7     
 
Unscheduled Withdrawal for Pre-Section 409A Account
7.1    Election. A Participant (or, after the Participant’s death, a Beneficiary) may take an Unscheduled Withdrawal from his Pre-Section 409A Account at any time. The Unscheduled Withdrawal shall be paid no later than the last day of the month following the month in which the Unscheduled Withdrawal is requested. Only one Unscheduled Withdrawal shall be permitted in each Plan Year.
7.2    Withdrawal Penalty. There shall be a Withdrawal Penalty deducted from the Pre-Section 409A Account prior to an Unscheduled Withdrawal from such Account equal to ten percent (10%) of the Unscheduled Withdrawal.

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7.3    Minimum Withdrawal. The minimum Unscheduled Withdrawal shall be twenty-five percent (25%) of the balance of the Pre-Section 409A Account rounded to the nearest whole share.
ARTICLE 8     
 
Amendment and Termination of Plan
8.1    Amendment.  The Company may at any time or from time to time modify or amend any or all of the provisions of the Plan, or stop future deferrals to the Plan, provided that, except as expressly provided with respect to a termination of the Plan, no such amendment shall reduce a Participant’s Account balance or change existing elections with respect to the time and method of payment of a Participant’s Account.
8.2    Termination of Plan.  The Company expects to continue this Plan, but does not obligate itself to do so.  The Company reserves the right to discontinue and terminate the Plan at any time, in whole or in part, for any reason (including a change, or an impending change, in the tax laws of the United States or any State).  Termination of the Plan shall be binding on all Participants and Employers, but in no event may such termination reduce the amounts credited at that time to any Participant’s Account.  If this Plan is terminated, (i) with respect to Participants’ Section 409A Accounts and subject to Section 4.4, amounts credited to Participant’s Section 409A Accounts shall be paid in a lump sum, provided that (A) the Company terminates at the same time any other arrangement that is subject to Section 409A and that would be aggregated with the Plan under Section 409A; (B) the Company does not adopt any other arrangement that would be aggregated with the Plan under Section 409A for three years; (C) the payments upon such termination shall not commence until 12 months after the date of termination and all such payments must be completed within 24 months after the date of termination; and (D) such other requirements as may be imposed by Section 409A are satisfied, and (ii) with respect to Participant’s Pre-Section 409A Accounts, the date of such termination shall be treated as a Termination of Employment of each Participant for the purpose of the Participant’s Pre-Section 409A Account, and the Company shall pay to each Participant the benefits such Participant would be entitled to receive under Article 4 of the Plan, except that such termination benefits shall be paid in a single lump sum payable on the last day of the month following the month in which termination of the Plan occurs unless the Administrator, in its complete and sole discretion determines to pay such amounts over a longer period not to exceed the period over which such amounts would otherwise have been paid had the Plan not been terminated.
ARTICLE 9     
 
Beneficiaries
9.1    Beneficiary Designation. The Participant shall have the right, at any time, to designate any person or persons as Beneficiary (both primary and contingent) to whom payment under the Plan shall be made in the event of the Participant’s death. The Beneficiary designation shall be effective when it is submitted in writing to and acknowledged by the Administrator during the Participant’s lifetime on a form prescribed by the Administrator.

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9.2    Revision of Designation. The submission of a new Beneficiary designation shall cancel all prior Beneficiary designations. 
9.3    Successor Beneficiary. If the primary Beneficiary dies prior to complete distribution of the benefits provided in Article 5, the remaining Account balance shall be paid to the contingent Beneficiary elected by the Participant in the form of a lump sum payable no later than the last day of the month following the month in which the last remaining primary Beneficiary’s death is established.
9.4    Absence of Valid Designation. If a Participant fails to designate a Beneficiary as provided above, or if the Beneficiary designation is revoked without execution of a new designation, or if every person designated as Beneficiary predeceases the Participant or dies prior to complete distribution of the Participant’s benefits, then the Administrator shall direct the distribution of such benefits to the Participant’s spouse, if the Participant was married on the date of death (as determined by the Administrator using the same definitions and rules applicable under the Equifax Inc. 401(k) Plan), or, if the Participant was not married on the date of death, to the Participant’s estate.
ARTICLE 10     
 
Administration/Claims Procedures
10.1    Administration. The Plan shall be administered by the Administrator, which shall have the exclusive right and full discretion (i) to interpret the Plan, (ii) to decide any and all matters arising hereunder (including the right to remedy possible ambiguities, inconsistencies, or admissions), (iii) to make, amend and rescind such rules as it deems necessary for the proper administration of the Plan and (iv) to make all other determinations necessary or advisable for the administration of the Plan, including determinations regarding eligibility for benefits payable under the Plan. All interpretations of the Administrator with respect to any matter hereunder shall be final, conclusive and binding on all persons affected thereby. No member of the Administrator shall be liable for any determination, decision, or action made in good faith with respect to the Plan. The Company will indemnify and hold harmless the members of the Administrator from and against any and all liabilities, costs, and expenses incurred by such persons as a result of any act, or omission, in connection with the performance of such persons’ duties, responsibilities, and obligations under the Plan, other than such liabilities, costs, and expenses as may result from the bad faith, willful misconduct, or criminal acts of such persons.
10.2    Claims Procedure. Any Participant, former Participant or Beneficiary may file a written claim with the Administrator setting forth the nature of the benefit claimed, the amount thereof, and the basis for claiming entitlement to such benefit. The Administrator shall determine the validity of the claim and communicate a decision to the claimant promptly and, in any event, not later than ninety (90) days after the date of the claim. The claim may be deemed by the claimant to have been denied for purposes of further review described below in the event a decision is not furnished to the claimant within such ninety (90) day period. If additional information is necessary to make a determination on a claim, the claimant shall be advised of the need for such additional information within forty-five (45) days after the date of the claim. The claimant shall have up to one hundred and eighty (180) days to supplement the claim 

12

information, and the claimant shall be advised of the decision on the claim within forty-five (45) days after the earlier of the date the supplemental information is supplied or the end of the one hundred and eighty (180) day period. Every claim for benefits which is denied shall be denied by written notice setting forth in a manner calculated to be understood by the claimant (i) the specific reason or reasons for the denial, (ii) specific reference to any provisions of the Plan (including any internal rules, guidelines, protocols, criteria, etc.) on which the denial is based, (iii) description of any additional material or information that is necessary to process the claim, and (iv) an explanation of the procedure for further reviewing the denial of the claim.
10.3    Review Procedures. Within sixty (60) days after the receipt of a denial on a claim, a claimant or his/her authorized representative may file a written request for review of such denial. Such review shall be undertaken by the Administrator and shall be a full and fair review. The claimant shall have the right to review all pertinent documents. The Administrator shall issue a decision not later than sixty (60) days after receipt of a request for review from a claimant unless special circumstances, such as the need to hold a hearing, require a longer period of time, in which case a decision shall be rendered as soon as possible but not later than one hundred and twenty (120) days after receipt of the claimant’s request for review. The decision on review shall be in writing and shall include specific reasons for the decision written in a manner calculated to be understood by the claimant with specific reference to any provisions of the Plan on which the decision is based and shall include an explanation the claimants right to pursue a legal action in the event the claim is denied.
ARTICLE 11     
 
Conditions Related to Benefits
11.1    Nonassignability.  The rights and benefits provided under the Plan shall not be subject to sale, alienation, assignment, transfer, pledge or hypothecation by the Participant or any Beneficiary and any attempt to sell, alienate, assign, transfer, pledge or hypothecate an Account balance or Plan benefits including, without limitation, any assignment or alienation in connection with a separation, divorce, child support or similar arrangement shall be null and void and not binding on the Company or the Plan.  The Deferred Stock and Plan benefits shall be exempt from the claims of creditors or other claimants of the Participant or Beneficiary and from all orders, decrees, levies, garnishment or executions to the fullest extent allowed by law.
11.2    No Right to Company Assets.  The Deferred Stock paid under the Plan shall be paid from treasury shares of the Company, shares acquired at the time of distribution by the Company for such purposes or shares held in a trust maintained by the Company, and the Participant and any Beneficiary shall be no more than an unsecured general creditor of the Company with no special or prior right to any assets or shares of the Company for payment of any obligations hereunder. At its discretion, the Company may establish one or more grantor trusts for the purpose of providing for payment of benefits under the Plan. Such trust or trusts may be irrevocable, but the assets thereof shall be subject to the claims of the Company’s creditors in accordance with the terms of the trusts.  Benefits paid to the Participant from any such trust or trusts shall be considered paid by the Company for purposes of meeting the obligations of the Company under the Plan.

13

11.3    Securities Law Compliance.  Notwithstanding anything contained herein, the Company shall not be obligated to honor any election or make any distribution under this Plan or to sell, issue or effect any transfer of any Common Stock unless such distribution, sale, issuance or transfer is at such time effectively (i) registered or exempt from registration under the Securities Act of 1933, as amended (the “Act”) and (ii) qualified or exempt from qualification under the applicable state securities laws. As a condition to make any election or receive any distribution under this Plan, the Participant or other payee shall make such representations as may be deemed appropriate by counsel to the Company for the Company to use any available exemption from registration under the Act or qualification under any applicable state securities law.
11.4    Withholding. The Participant shall make appropriate arrangements with the Company for satisfaction of any federal, state or local income tax withholding requirements and Social Security or other employee tax requirements applicable to the deferral and distribution of shares under the Plan. If no other arrangements are made, the Company may provide, at its discretion, for such withholding and tax payments as may be required, including, without limitation, by the reduction of other amounts payable to the Participant.
11.5    Assumptions and Methodology. To the extent required, the Administrator shall establish the assumptions and method of calculation used in determining the value of Common Stock, benefits, payments, fees, expenses or any other amounts required to be calculated under the terms of the Plan. The Administrator shall also establish reasonable procedures regarding the form and timing of installment payments. Unless otherwise specified by the Administrator, installment payments shall be calculated by equally dividing the amount of Deferred Stock in the Participant’s Account by the number of installment payments elected and rounding down to the nearest whole share until the final installment which shall include the full balance remaining in the Participant’s Account.
ARTICLE 12     
 
Miscellaneous
12.1    Successors of the Company. The rights and obligations of the Company under the Plan shall inure to the benefit of, and shall be binding upon, the successors and assigns of the Company.
12.2    Employment/Service Not Guaranteed. Nothing contained in the Plan nor any action taken hereunder shall be construed as a contract of employment or for services or as giving any Participant any right to continued employment with or performance of services for the Company or an Employer, nor as a limitation on the right of the Company or the Employer to terminate the employment or services of any Participant at any time.
12.3    Gender, Singular and Plural. All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, or neuter, as the identity of the person or persons may require. As the context may require, the singular may be read as the plural and the plural as the singular.

14

12.4    Captions. The captions of the articles, paragraphs and sections of the Plan are for convenience only and shall not control or affect the meaning or construction of any of its provisions.
12.5    Validity. In the event any provision of the Plan is held invalid, void or unenforceable, the same shall not affect, in any respect whatsoever, the validity of any other provisions of the Plan.
12.6    Waiver of Breach. The waiver by the Company of any breach of any provision of the Plan shall not operate or be construed as a waiver of any subsequent breach by that Participant or any other Participant.
12.7    Notice. Any notice or filing required or permitted to be given to the Company or the Participant under this Agreement shall be sufficient if in writing and hand-delivered, or sent by registered or certified mail, in the case of the Company, to the principal office of the Company, directed to the attention of the Administrator, and in the case of the Participant, to the last known address of the Participant indicated on the employment records of the Company. Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification. Notices to the Company may be permitted by electronic communication according to specifications established by the Administrator.
12.8    Errors    in Benefit Statement or Distributions. In the event an error is made in a benefit statement, such error shall be corrected as soon as practical following the date such error is discovered. In the event of an error in a distribution, the Participant’s Account shall, as soon as practical after the discovery of such error, be adjusted to reflect such under or over payment and, if possible and to the extent permitted without violating Section 409A, the next distribution shall be adjusted upward or downward to correct such prior error. If the remaining balance of a Participant’s Account is insufficient to cover an erroneous overpayment, the Company may, at its discretion, offset other amounts payable to the Participant from the Company (including but not limited to salary, bonuses, expense reimbursements, severance benefits or other compensation or benefit arrangements, to the extent allowed by law and permitted under Section 409A) to recoup the amount of such overpayment(s).
12.9    ERISA Plan. The Plan is intended to be an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of “management or highly compensated employees” within the meaning of Sections 201, 301 and 401 of ERISA and therefore to be exempt from Parts 2, 3 and 4 of Title I of ERISA.
12.10    Applicable Law. The Plan shall be governed by ERISA and, in the event any provision of, or legal issue relating to, this Plan is not fully preempted by ERISA, such issue or provision shall be governed by the laws of the State of Georgia (without regard to conflict of law provisions).
12.11    Compliance With Section 409A.  The Plan is intended to satisfy the requirements of Section 409A and any regulations or guidance that may be adopted thereunder from time to time, including any transition relief available under applicable guidance related to Section 409A.  

15

The Plan may be amended and shall be interpreted by the Company as it determines necessary or appropriate in accordance with Section 409A and to avoid a plan failure under Section 409A(1).

16

IN WITNESS WHEREOF, the Company has caused this Plan to be executed as of the 17th day of December, 2015. 

EQUIFAX INC. 

BY:  /s/ Coretha M. Rushing            
Coretha M. Rushing
Chief Human Resource Officer

17

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