Document:

EXHIBIT 10.6

SECOND AMENDMENT TO TALX CORPORATION OUTSIDE DIRECTORS’

STOCK OPTION PLAN

WHEREAS, TALX Corporation (“Company”)
adopted the TALX Corporation Outside Directors’ Stock Option Plan (“Plan”); and

WHEREAS, the Company
retained the right to amend the Plan pursuant to Section VII thereof; and

WHEREAS, the Company desires
to amend the Plan to permit the award of restricted stock to outside directors
of the Company;

NOW, THEREFORE, effective as
of July 13, 2004, the Plan is amended as follows:

1. Section 2 G is revised to
read as follows:

“Participant” means an
Outside Director who is granted a stock option or restricted stock.

2. The following sentence is
added at the end of Section III:

In addition to the
foregoing, there shall also be available 50,000 shares of the Company’s Common
Stock for the grant of restricted stock. Any shares of restricted stock which
are forfeited shall again be available for the grant of restricted stock.

3. Section IV is amended to
read as follows:

Stock options and restricted
stock may be granted under the Plan only to Outside Directors.

4. Sections VI through X are
renumbered Sections VII through XI, respectively.

5. A new Section VI is added
to read as follows:

SECTION VI. RESTRICTED STOCK

A. Grant of Restricted
Stock. Upon the recommendation of the Compensation Committee of the Board of
Directors, the Board of Directors may award Outside Directors a total of not
more than 12,000 shares of restricted stock per year.

B. Vesting of Restricted
Stock. A Participant who is awarded shares of restricted stock shall become
vested in such stock in an amount equal to 1/3 the number of shares subject to
such award for each year of service as an Outside Director following the award
of such restricted stock with 100% vesting after 3 years of such service.
Notwithstanding the foregoing, in the event of a Change in Control, or a
Participant’s termination of service as an Outside Director on account of death
or Disability, the Participant (or the Participant’s beneficiary if the
Participant has died) shall become 100% vested in such shares of restricted
stock.

C. Termination of Service.
If a Participant who has been awarded restricted stock terminates service as an
Outside Director for reasons other than death or Disability, he or she shall forfeit
all shares of restricted stock not then vested.

6. The following is added at
the end of Section XI:

The Second Amendment to the Plan was adopted on July 13, 2004 and shall
become effective upon approval of the shareholders within one year after such
adoption. If such approval is not given, the Second Amendment shall be void and
of no further force or effect.

IN WITNESS WHEREOF, the
foregoing Second Amendment was adopted on July 13, 2004.

	
   

  	
  TALX CORPORATION

  
	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ WILLIAM W. CANFIELD

  	
   

  
						

 

 Ex-A-7EXHIBIT 10.7

STOCK OPTION AGREEMENT

UNDER

TALX CORPORATION

OUTSIDE DIRECTORS’ STOCK OPTION PLAN

THIS AGREEMENT, made this                     day
of                               ,
19         , by and between TALX
Corporation, a Missouri corporation (hereinafter called the “Company”), and                            (hereinafter
called “Optionee”);

WITNESSETH THAT:

WHEREAS, the Board of
Directors of the Company (“Board of Directors”) has adopted the TALX
Corporation Outside Directors’ Stock Option Plan (the “Plan”) pursuant to which
options covering an aggregate of 80,000 shares (as adjusted for the 1 for 3.5
reverse stock split effective July, 1996) of the Common Stock of the Company
may be granted to outside directors of the Company; and

WHEREAS, Optionee is now an
outside director of the Company; and

WHEREAS, pursuant to the
Plan the Company shall grant to Optionee the option to purchase 1500 shares of
its stock under the terms of the Plan, which option will not qualify as an
incentive stock option within the meaning of Section 422 of the Internal
Revenue Code of 1986, as amended;

NOW THEREFORE, in
consideration of the premises, and of the mutual agreements hereinafter set
forth, it is covenanted and agreed as follows:

1. Grant Subject to Plan.
This option is granted under and is expressly subject to, all the terms and
provisions of the Plan, which terms are incorporated herein by reference.

2. Grant and Terms of
Option. Pursuant to the terms of the Plan the Company hereby grants to Optionee
the option to purchase all or any part of one thousand five hundred (1500)
shares of the Common Stock of the Company, of the par value of $.01 per share (“Common
Stock”), for a period of six (6) years from the date hereof, at the purchase
price of $         per share;
provided, however, that the right to exercise such option shall be, and is
hereby, restricted so that no shares may be purchased during the first year of
the term hereof; that at any time during the term of this option after the end
of the first year of the term hereof Optionee may purchase up to 100% of the
total number of shares to which this option relates. Provided, that if there is
a Change in Control as defined in the Plan, Optionee may immediately purchase
100% of the total number of shares to which immediately purchase 100% of the
total number of shares to which this option relates. In no event may this
option or any part thereof be exercised after the expiration of six (6) years
from the date hereof. The purchase price of the shares subject to the option
may be paid for (i) in cash, (ii) by tender of shares of Common Stock already
owned by Optionee, or (iii) by a combination of methods of payment specified in
clauses (i) and (ii), all in accordance with Section V.F of the Plan.

3. Anti-Dilution Provisions.
In the event that, during the term of this Agreement, there is any change in
the number of shares of outstanding Common Stock of the Company by reason of
stock dividends, recapitalizations, mergers, consolidations, split-offs,
split-ups, combinations or exchanges of shares and the like, the number of
shares covered by this option agreement and the price thereof shall be
adjusted, to the same proportionate number of shares and price as in this
original agreement.

4. Investment Purpose. Optionee
represents that, in the event of the exercise of the exercise by Optionee of
the option hereby granted, or any part thereof, Optionee intends to purchase
the shares acquired on such exercise for investment and not with a view to
resale or other distribution; except that the Company, at its election, may
waive or release this condition in the event the shares acquired on exercise of
the option are registered under the Securities Act of 1933, or upon the
happening of any other contingency which the Company shall determine warrants
the waiver or release of this condition. Optionee agrees that the exercise of
all or any part of this option, may bear a restrictive legend, if appropriate,
indicating that the share have not been registered under said Act and are
subject to restrictions on the transfer thereof, which legend may be in the
following form (or such other form as the Company shall determine to be
proper), to-wit:

“The shares represented by
this certificate have not been registered under the Securities Act of 1933, but
have been issued or transferred to the registered owner pursuant to the
exemption afforded by Section 4(2) of said Act. No transfer or assignment of
these shares by the registered owner shall be valid or effective, and the
issuer of these shares shall not be required to give any effect to any transfer
or attempted transfer of these shares, including without limitation, a transfer
by operation of law, unless (a) the issuer shall have received an opinion of
its counsel that the shares may be transferred without requirement of
registration under said Act, or (b) there shall have been delivered to the
issuer a ‘no-action’ letter from the staff of the Securities and Exchange
Commission, or (c) the shares are registered under said Act.”

5. Non-transferability.
Neither the option hereby granted nor any rights thereunder or under this
Agreement may be assigned, transferred or in any manner encumbered except by
will or the laws of descent and distribution, and any attempted assignment,
transfer, mortgage, pledge or encumbrance except as herein authorized, shall be
void and of no effect. The option may be exercised during Optionee’s lifetime
only by Optionee.

6. Termination of Service as
a Director. In the event of the termination of Optionee’s service as a
Director, the option may be exercised as provided in Section V.E. of the Plan.

7. Shares Issued on Exercise
of Option. It is the intention of the Company that on any exercise of this
option it will transfer to Optionee shares of its authorized but unissued stock
or transfer Treasury shares, or utilize any combination of Treasury shares and
authorized but unissued shares, to satisfy its obligations to deliver shares on
any exercise hereof.

8. Option Not Intended As An
Incentive Stock Option. The option granted hereunder is not intended to
constitute an incentive stock option within the meaning of Section 422 of the
Internal Revenue Code of 1986, as amended.

IN WITNESS WHEREOF, the
Company has caused this Agreement to be executed on its behalf by its President
pursuant to due authorization, and Optionee has signed this Agreement to
evidence Optionee’s acceptance of the option herein granted and of the terms
hereof, all as of the date hereof.

	
  

  	
   

  	
  TALX CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  Optionee

  

 

 2EXHIBIT 10.8

TALX CORPORATION

RESTRICTED
STOCK AGREEMENT (EMPLOYEE)

THIS
AGREEMENT, made as of the            day
of          ,          by
and between TALX Corporation, a Missouri corporation (hereinafter called the “Company”),
and               (hereinafter
called the “Employee”);

WITNESSETH
THAT:

WHEREAS,
the Board of Directors of the Company (“Board of Directors”) desires to benefit
the Company by increasing motivation on the part of the Employee, who is
materially important to the Company, by creating an incentive to remain as an
employee of the Company and to work to the very best of the Employee’s
abilities; and

WHEREAS,
to further this purpose, the Company desires to make a restricted stock award
to the Employee for            
(            )
shares under the terms of the TALX Corporation 2005 Omnibus Incentive Plan (“Plan”):

NOW,
THEREFORE, in consideration of the premises, and of the mutual agreements
hereinafter set forth, it is covenanted and agreed as follows:

1. Terms
of Award. Pursuant to action of the Committee, which action was taken on          ,
2005 (“Date of Award”), the Company awards to the Employee (           )
shares of the common stock of the Company (“Common Stock”); provided, however,
that the shares hereby awarded are nontransferable by the Employee during the
period described below and are subject to the risk of forfeiture described
below. Prior to the time shares become transferable, the shares of Restricted
Stock shall bear a legend indicating their nontransferability, and, if the
Employee terminates employment with the Company prior to the time a restriction
lapses, the Employee shall forfeit any shares of Restricted Stock which are
still subject to the restrictions at the time of termination of such service.

On the
date ending one (1) year after the Date of Award, one-fifth of the shares
of Restricted Stock shall become transferable by the Employee if the Employee
is still an employee of the Company on such date, and has been continuously
employed by the Company since the Date of Award; on the date ending two
(2) years after the Date of the Award, an additional one-fifth of the
shares of Restricted Stock shall become transferable by the Employee if the
Employee is still an employee of the Company on such date, and has been continuously
employed by the Company since the Date of Award; on the date ending three
(3) years after the Date of the Award, an additional one-fifth of the
shares of Restricted Stock shall become transferable by the Employee if the
Employee is still an employee of the Company on such date, and has been
continuously employed by the Company since the Date of Award; on the date
ending four (4) years after the Date of the Award, an additional one-fifth
of the shares of Restricted Stock shall become transferable by the Employee if
the Employee is still an employee of the Company on such date, and has been
continuously employed by the Company since the Date of Award; and on the date
ending five (5) years after the Date of the Award, an additional one-fifth
of the shares of Restricted Stock shall become transferable by the Employee if
the Employee is still an employee of the Company on such date, and has been
continuously employed by the Company since the Date of Award. Notwithstanding
the foregoing, any shares of Restricted Stock which become transferable shall
only become so vested in whole shares, and the Employee shall not be deemed
vested in any fractional share. All of the shares of Restricted Stock which
have not previously become transferable by the Employee shall be forfeited by
the Employee on the date on which the Employee terminates employment with the
Company.

Notwithstanding
the foregoing, in the event of a Change of Control (as defined in the Plan),
all previously granted shares of Restricted Stock not yet free of the
restrictions of this Section 1 shall become immediately free of such
restrictions.

2. Death
or Disability of the Employee. In the event of the death or Disability (as
defined in the Plan) of the Employee, all previously granted shares of Restricted
Stock not yet free of the restrictions of Section 1 shall become
immediately free of such restrictions. In the event of death, shares of
Restricted Stock that become vested in accordance with this Section shall be
distributed to the Employee’s beneficiary designated by the Employee on such
form and in such manner as may be prescribed by the Company or, if the Employee
fails to designate a beneficiary in accordance with the foregoing, to the
Employee’s 

surviving spouse or, if there is no surviving spouse,
in equal shares to the Employee’s surviving children or, if there are no
surviving children, to the Employee’s estate.

3. Cost
of Restricted Stock. The purchase price of the shares of Restricted Stock
shall be the par value of such shares determined as of the Date of Award, the
receipt and adequacy of which are hereby acknowledged. In the event any shares
of Restricted Stock are forfeited, the allocable portion of the purchase price
shall be refunded to the Employee.

4. Adjustments
Upon Changes in Capitalization or Corporate Acquisitions. Notwithstanding
any other provision in the Agreement, if there is any change in the outstanding
Common Stock by reason of any stock dividend, stock split, reverse stock split,
recapitalization, merger, consolidation, statutory share exchange, sale of all
or substantially all assets, split-up combination or exchange of shares or the
like, and in the event of any such change in the outstanding Common Stock, the
number and class of shares of Common Stock under this award of Restricted Stock
not yet vested shall be appropriately adjusted by the Committee, whose
determination shall be conclusive.

5. No
Right to Continued Service. Nothing in this Agreement shall be deemed to
create any limitation or restriction on such rights as the Company otherwise
would have to terminate the employment of the Employee.

6. Administration.
This award has been made pursuant to a determination made by the Committee, and
the Committee or any successor or substitute committee authorized by the Board
of Directors or the Board of Directors itself, subject to the express terms of
this Agreement, shall have plenary authority to interpret any provision of this
Agreement and to make any determinations necessary or advisable for the
administration of this Agreement and may waive or amend any provisions hereof
in any manner not adversely affecting the rights granted to the Employee by the
express terms hereof.

7. Shares.
The shares of Restricted Stock described herein shall be granted in the form of
shares registered in the name of the Employee but held by the Company until the
restrictions on the award lapse, subject to forfeiture as provided herein. The
Employee will be entitled to all dividends and distributions paid on or with
respect to the shares of Restricted Stock, and the Employee will be entitled to
instruct the Company how to vote the shares of Restricted Stock while subject
to the restrictions herein. If the Employee forfeits any rights the Employee
may have under this Agreement, the Employee will, on the day following the
event of forfeiture, no longer have any rights as a shareholder with respect to
the forfeited portion of the shares of Restricted Stock or any interest therein
(or with respect to any shares not then vested), and the Employee will no
longer be entitled to receive dividends and distributions with respect to those
shares or vote (or instruct the Company how to vote) those shares of Restricted
Stock as of any record date occurring thereafter.

8. Grant
Subject to Plan. This award of Restricted Stock is granted under and is
expressly subject to all the terms and provisions of the Plan, and the terms of
the Plan are incorporated herein by reference. Terms not defined herein shall
have the meaning ascribed thereto in the plan. THE EMPLOYEE HEREBY ACKNOWLEDGES
RECEIPT OF A COPY OF THE PLAN AND AGREES TO BE BOUND BY ALL THE TERMS AND
PROVISIONS THEREOF.

IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed on its
behalf, and the Employee has, by receipt of this Agreement and acceptance of
the benefits hereunder, accepted the terms hereof, all as of the date first
above written.

	
   

  	
  TALX CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  

 

 2

TALX CORPORATION

RESTRICTED
STOCK AGREEMENT (OUTSIDE DIRECTOR)

THIS AGREEMENT, made as
of the         day of         ,         by
and between TALX Corporation, a Missouri corporation (hereinafter called the “Company”),
and                (hereinafter
called the “Director”);

WITNESSETH
THAT:

WHEREAS,
the Board of Directors of the Company (“Board of Directors”) desires to benefit
the Company by increasing motivation on the part of the Director, who is
materially important to the Company, by creating an incentive to remain as a
director of the Company and to work to the very best of the Director’s
abilities; and

WHEREAS,
to further this purpose, the Company desires to make a restricted stock award
to the Director for (          )
shares under the terms of the TALX Corporation 2005 Omnibus Incentive Plan (“Plan”):

NOW,
THEREFORE, in consideration of the premises, and of the mutual agreements
hereinafter set forth, it is covenanted and agreed as follows:

1. Terms
of Award. Pursuant to action of the Committee, which action was taken on          ,
2005 (“Date of Award”), the Company awards to the Director (            )
shares of the common stock of the Company (“Common Stock”); provided, however,
that the shares hereby awarded are nontransferable by the Director during the
period described below and are subject to the risk of forfeiture described
below. Prior to the time shares become transferable, the shares of Restricted
Stock shall bear a legend indicating their nontransferability, and, if the
Director terminates service as a director of the Company prior to the time a
restriction lapses, the Director shall forfeit any shares of Restricted Stock
which are still subject to the restrictions at the time of termination of such
service.

On the
date ending one (1) year after the Date of Award, one-third of the shares
of Restricted Stock shall become transferable by the Director if the Director
is still a director of the Company on such date, and has been continuously
serving as such a director since the Date of Award; on the date ending two
(2) years after the Date of the Award, an additional one-third of the
shares of Restricted Stock shall become transferable by the Director if the
Director is still a director of the Company on such date, and has been
continuously serving as such a director since the Date of Award; and on the
date ending three (3) years after the Date of the Award, an additional
one-third of the shares of Restricted Stock shall become transferable by the
Director if the Director is still a director of the Company on such date, and
has been continuously serving as such a director since the Date of Award.
Notwithstanding the foregoing, any shares of Restricted Stock which become
transferable shall only become so vested in whole shares, and the Director
shall not be deemed vested in any fractional share. All of the shares of
Restricted Stock which have not previously become transferable by the Director
shall be forfeited by the Director on the date on which the Director ceases
serving as a director of the Company.

Notwithstanding
the foregoing, in the event of a Change of Control (as defined in the Plan),
all previously granted shares of Restricted Stock not yet free of the
restrictions of this Section 1 shall become immediately free of such
restrictions.

2. Death
or Disability of the Director. In the event of the death or Disability (as
defined in the Plan) of the Director, all previously granted shares of
Restricted Stock not yet free of the restrictions of Section 1 shall
become immediately free of such restrictions. In the event of death, shares of
Restricted Stock that become vested in accordance with this Section shall be
distributed to the Director’s beneficiary designated by the Director on such
form and in such manner as may be prescribed by the Company or, if the Director
fails to designate a beneficiary in accordance with the foregoing, to the
Director’s surviving spouse or, if there is no surviving spouse, in equal
shares to the Director’s surviving children or, if there are no surviving
children, to the Director’s estate.

3. Cost
of Restricted Stock. The purchase price of the shares of Restricted Stock
shall be the par value of such shares determined as of the Date of Award, the
receipt and adequacy of which are hereby 

 1
 

acknowledged. In the event any shares of Restricted
Stock are forfeited, the allocable portion of the purchase price shall be
refunded to the Director.

4. Adjustments
Upon Changes in Capitalization or Corporate Acquisitions. Notwithstanding
any other provision in the Agreement, if there is any change in the outstanding
Common Stock by reason of any stock dividend, stock split, reverse stock split,
recapitalization, merger, consolidation, statutory share exchange, sale of all
or substantially all assets, split-up combination or exchange of shares or the
like, and in the event of any such change in the outstanding Common Stock, the
number and class of shares of Common Stock under this award of Restricted Stock
not yet vested shall be appropriately adjusted by the Committee, whose
determination shall be conclusive.

5. No
Right to Continued Service. Nothing in this Agreement shall be deemed to
create any limitation or restriction on such rights as the Company otherwise
would have to terminate the service of the Director.

6. Administration.
This award has been made pursuant to a determination made by the Committee, and
the Committee or any successor or substitute committee authorized by the Board
of Directors or the Board of Directors itself, subject to the express terms of
this Agreement, shall have plenary authority to interpret any provision of this
Agreement and to make any determinations necessary or advisable for the
administration of this Agreement and may waive or amend any provisions hereof
in any manner not adversely affecting the rights granted to the Director by the
express terms hereof.

7. Shares.
The shares of Restricted Stock described herein shall be granted in the form of
shares registered in the name of the Director but held by the Company until the
restrictions on the award lapse, subject to forfeiture as provided herein. The
Director will be entitled to all dividends and distributions paid on or with
respect to the shares of Restricted Stock, and the Director will be entitled to
instruct the Company how to vote the shares of Restricted Stock while subject
to the restrictions herein. If the Director forfeits any rights the Director
may have under this Agreement, the Director will, on the day following the
event of forfeiture, no longer have any rights as a shareholder with respect to
the forfeited portion of the shares of Restricted Stock or any interest therein
(or with respect to any shares not then vested), and the Director will no
longer be entitled to receive dividends and distributions with respect to those
shares or vote (or instruct the Company how to vote) those shares of Restricted
Stock as of any record date occurring thereafter.

8. Grant
Subject to Plan. This award of Restricted Stock is granted under and is
expressly subject to all the terms and provisions of the Plan, and the terms of
the Plan are incorporated herein by reference. Terms not defined herein shall
have the meaning ascribed thereto in the Plan. THE DIRECTOR HEREBY ACKNOWLEDGES
RECEIPT OF A COPY OF THE PLAN AND AGREES TO BE BOUND BY ALL THE TERMS AND
PROVISIONS THEREOF.

IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed on its
behalf, and the Director has, by receipt of this Agreement and acceptance of
the benefits hereunder, accepted the terms hereof, all as of the date first
above written.

	
   

  	
  TALX CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  

 

 2

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