Document:

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                                                                    EXHIBIT 10.3

                                 AMENDMENT NO. 1
                  TO THE STANDBY SECURITIES PURCHASE AGREEMENT

            This AMENDMENT NO. 1 (this "Amendment No. 1") to the Standby
Securities Purchase Agreement, is entered into as of September 21, 2005, by and
among DDi Corp., a Delaware corporation (the "Company"), and the entities listed
on the signature pages hereto. This Amendment No. 1 amends that certain Standby
Securities Purchase Agreement, dated as of June 2, 2005 (as amended through the
date hereof, the "Agreement"), by and among the Company and Caiman Partners,
L.P., Contrarian Turnaround Equities, LLC, Greywolf Capital Partners II LP, QVT
Fund LP, Sankaty Credit Opportunities, L.P., Sankaty High Yield Asset Partners,
L.P., Sankaty High Yield Partners II, L.P., Sankaty High Yield Partners III,
L.P. and Sankaty Prospect Credit Partners, L.P. (collectively, the "Purchasers"
and each, individually, a "Purchaser"). Capitalized terms used herein without
definition shall have the same meanings herein as set forth in the Agreement.

                                    RECITALS

            WHEREAS, the Company and the Purchasers entered into the Agreement
in order to provide for the issuance and sale by the Company, and the purchase,
severally, by each Purchaser, of shares of common stock of the Company.

            WHEREAS, pursuant to Section 9.5 of the Agreement, the Agreement may
be amended from time to time with the approval of the Required Purchasers and
the Company;

            WHEREAS, the Company and the Required Purchasers desire to modify
certain provisions of the Operating Agreement to correct the name of the
Purchaser that was erroneously referred to as Sankaty Prospect Credit Partners,
L.P. in the Agreement; and

            NOW, THEREFORE, in consideration of the premises and the agreements
and provisions herein contained, the parties hereto agree as follows:

                                   ARTICLE I

                           AMENDMENT TO THE AGREEMENT

1.1 Amendment of Schedule A. Schedule A to the Agreement shall be deleted in its
entirety and shall be replaced with Schedule A attached hereto.

                                   ARTICLE II

                 JOINDER OF PROSPECT HARBOR CREDIT PARTNERS, LP

2.1 Joinder of Prospect Harbor Partners, LP. Prospect Harbor Partners, LP hereby
agrees to be bound by the terms and conditions of the Agreement as if it were an
original party thereto.

2.2 Composition of Purchasers. The Company and the Purchasers agree that the
term "Purchasers" wherever used herein or in the Agreement shall be deemed to
include the
<PAGE>
Purchasers and Prospect Harbor Partners, LP but shall not include Sankaty
Prospect Credit Partners, L.P.

                                  ARTICLE III

                                 MISCELLANEOUS

3.1 Reference to and Effect on the Agreement.

            (a) This Amendment No. 1 modifies the Agreement to the extent set
forth herein, is hereby incorporated by reference into the Agreement and is made
a part thereof. On and after the date hereof, each reference in the Agreement to
"this Agreement", "hereunder", "hereof", "herein" or words of like import
referring to the Agreement, shall mean and be a reference to the Agreement as
amended by this Amendment No. 1.

            (b) Except as specifically amended by this Amendment No. 1, the
Agreement shall remain in full force and effect and is hereby ratified and
confirmed.

3.2 Headings. Section and clause headings in this Amendment No. 1 are included
herein for convenience of reference only and shall not constitute a part of this
Amendment No. 1 for any other purpose or be given any substantive effect.

3.3 Applicable Law. THIS AMENDMENT NO. 1 SHALL BE GOVERNED BY, AND SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW
YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES.

3.4 Counterparts. This Amendment No. 1 may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute one and the same instrument.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
<PAGE>
            IN WITNESS WHEREOF, the parties hereto have caused this Amendment
No. 1 to be duly executed and delivered by their respective officers thereunto
duly authorized as of the date first written above.

                              DDi CORP.

                              By: /s/ Timothy J. Donnelly
                                  ___________________________________________
                              Name:   Timothy J. Donnelly
                              Title:  Vice President
<PAGE>
                              CAIMAN PARTNERS, L.P.
                              By:    Caiman Capital GP, L.P., General Partner

                              By:    ___________________________________________
                              Name:  Brian R. Kahn
                              Title: Managing Director

                              Address for Notice:

                              Kahn Capital Management LLC
                              c/o Brian Kahn
                              5506 Worsham Court
                              Windermere, FL 34786
<PAGE>
                              CONTRARIAN TURNAROUND EQUITIES, LLC
                              By:    Contrarian Capital Management, LLC, its
                                     manager

                              By:   /s/ Jason Mudrick
                                    ___________________________________________
                              Name:   Jason Mudrick
                              Title:  Portfolio Manager

                              Address for Notice:

                              411 West Putnam Ave., Suite 225
                              Greenwich, CT  06830
                              Attn:  Jason Mudrick
<PAGE>
                              GREYWOLF CAPITAL PARTNERS II LP
                              By: Greywolf Advisors LLC, its General Partner

                              By:    /s/ Jon Santz
                                     -------------------------------------------
                              Name:  Jonathon Santz
                              Title: Senior Managing Member

                              Address for Notice:

                              Greywolf Capital
                              4 Manhattanville Road, Suite 201
                              Purchase, NY 10577
<PAGE>
                              QVT FUND LP
                              By:    QVT Associates GP LLC, its general partner

                              By:    /s/ Nicholas Brumm
                                     -------------------------------------------
                              Name:  Nicholas Brumm
                              Title: Managing Member

                              By:    /s/ Tracy Fu
                                     -------------------------------------------
                              Name:  Tracy Fu
                              Title: Managing Member

                              Address for Notice:

                              c/o QVT Financial LP
                              527 Madison Avenue, 8th Floor
                              New York, NY 10022

                              With a copy to:

                              Wilmer Cutler Pickering Hale and Dorr LLP
                              399 Park Avenue
                              New York, NY 10022
                              Attn: Knute Salhus
<PAGE>
                              SANKATY CREDIT OPPORTUNITIES, L.P.

                              By:    /s/ Jonathan S. Lavine
                                     -------------------------------------------
                              Name:  Jonathan S. Lavine
                              Title: Managing Director

                              SANKATY HIGH YIELD ASSET PARTNERS, L.P.

                              By:    /s/ Jonathan S. Lavine
                                     -------------------------------------------
                              Name:  Jonathan S. Lavine
                              Title: Managing Director

                              SANKATY HIGH YIELD PARTNERS II, L.P.

                              By:    /s/ Jonathan S. Lavine
                                     -------------------------------------------
                              Name:  Jonathan S. Lavine
                              Title: Managing Director

                              SANKATY HIGH YIELD PARTNERS III, L.P.

                              By:    /s/ Jonathan S. Lavine
                                     -------------------------------------------
                              Name:  Jonathan S. Lavine
                              Title: Managing Director

                              PROSPECT HARBOR CREDIT PARTNERS, L.P.

                              By:    /s/ Jonathan S. Lavine
                                     -------------------------------------------
                              Name:  Jonathan S. Lavine
                              Title: Managing Director

                              Address for Notice for all Purchasers on this
                              page:

                              Sankaty Advisors
                              111 Huntington Avenue
                              Boston, MA 02199
<PAGE>
                                    EXHIBIT A

                                   PURCHASERS

--------------------------------------------------------------------------------
                Name                                         Proportionate Share
--------------------------------------------------------------------------------
Caiman Partners, L.P.                                              20.000%
--------------------------------------------------------------------------------
Contrarian Turnaround Equities, LLC                                26.667%
--------------------------------------------------------------------------------
Greywolf Capital Partners II LP                                    10.000%
--------------------------------------------------------------------------------
QVT Fund LP                                                        26.667%
--------------------------------------------------------------------------------
Sankaty Credit Opportunities, L.P.                                  8.286%
--------------------------------------------------------------------------------
Sankaty High Yield Asset Partners, L.P.                             2.012%
--------------------------------------------------------------------------------
Sankaty High Yield Partners II, L.P.                                2.677%
--------------------------------------------------------------------------------
Sankaty High Yield Partners III, L.P.                               2.677%
--------------------------------------------------------------------------------
Prospect Harbor Credit Partners, LP                                 1.014%
--------------------------------------------------------------------------------exv10w39

 

Exhibit 10.39

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.

2

 

          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:	 	 
	 

	 	 	 	 

3

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