Document:

<PAGE>

                                                                    Exhibit 10.5

[Date]

[Name and Address of Director Recipient]

Dear [Name]:

This letter is intended to document an award to you of [    ] shares of
restricted TALX Corporation stock granted under the TALX Corporation Outside
Directors' Stock Option Plan by action of the Board of Directors on [Date].

Enclosed you will find a copy of the Plan with Amendment 1 and Amendment 2, and
an Offering Circular prepared for you which summarizes the Plan and your rights
with respect to the stock.

Because the stock vests over several years, we have instructed the Transfer
Agent to make a book entry to indicate your ownership. You will note that you
will receive dividends on the stock, and have the right to vote, and the
Transfer Agent has been so instructed. You will receive a "Form 1099-Div" for
the dividends.

Here are some other things to know about the award:

      -     The shares of stock are restricted and vest ratably over three
            years.

      -     Upon termination of service as a director, unvested shares of stock
            generally are forfeited with certain exceptions, including
            termination of service for death, disability or change of control.

      -     If service as a director is terminated due to death, disability or
            change of control, stock will NOT be forfeited, but will
            automatically vest.

      -     There is an income tax election which is available to grant
            recipients, which would cause tax gain to be realized at the time of
            the grant in exchange for capital gains treatment on later
            appreciation.

Of course, for a more detailed description you can review the Offering Circular
and the Plan. Please call if you have any questions.

                                                               Sincerely,

                                                               Thomas C. Werner
                                                               General Counsel<PAGE>

                                                                    EXHIBIT 10.6

TALX CORPORATION

FY05 Incentive Bonus Plan Policy

The TALX incentive bonus plan is designed to deliver significant cash
compensation for superior performance against specific standards. The incentive
bonus plan is an important part of TALX's compensation philosophy. Coupled with
our policy of competitive salaries and merit-based increases, the incentive
bonus plan provides for additional compensation opportunities based on the
accomplishment of specific financial objectives and departmental performance
goals. Participation in the incentive plan intentionally includes all positions
within the organization. The incentive bonus plan offers each TALX employee the
opportunity to earn a percentage of their base salary, the specific percentage
varying by position, but consistent by like roles across the organization.

How FY05 Incentive Bonus Plan Awards Are Determined

Employees with direct sales responsibilities within the Sales organization will
receive a fiscal year position specific incentive compensation plan which
details how quota, commission, and bonuses are earned. All other employees'
incentive bonus plans may have a TALX Earnings Per Share goal portion and may
also have a departmental performance goal component. There may be a graduated
scale enabling payment in excess of the incentive amount for greater than 100%
attainment of the goals as well as enabling payment of a portion for less than
100% attainment of the goals.

TALX EARNINGS PER SHARE GOAL PORTION

The TALX Earnings Per Share goal will be determined by the Board of Directors at
its May 2004 meeting.

DEPARTMENTAL PERFORMANCE GOAL PORTION

The Departmental goals will be tied to goal(s) that the employee can most
directly influence. Department goal standards will be set once the fiscal year's
budget is finalized and will be determined by the business unit head. The
Department performance goals may be quarterly, semi-annual, or annual goals.

How the FY05 Incentive Bonus Plan Is Communicated

Officers and Directors will review the FY05 budget plan and set the Department
goal(s) for each of their direct reports and their teams. Each manager will then
review the FY05 incentive bonus plan goals with their team. FY05 incentive plan
communication should be completed within sixty (60) days from the beginning of
the fiscal year for all eligible employees or within thirty (30) days from the
date of hire for new employees.

FY05 Incentive Bonus Plan Award Calculation

CHANGES IN BASE SALARY DURING FY05

The employee's base salary effective at the beginning of FY05, April 1, 2004,
will be the base salary utilized in the calculation of the incentive bonus
awards.

CHANGES IN EMPLOYMENT (FULL-TIME VS. PART-TIME) STATUS DURING FY05

The award will be prorated to reflect the change in employment status based upon
the effective date of the status change rounded to the nearest month. Effective
dates on or before the 15th are rounded to the first of that month; effective
dates on or after the 16th are rounded to the first of the following month.

FY05 Incentive Bonus Plan Award Eligibility

NEWLY HIRED/PROMOTIONS

Eligibility will begin based upon the hire/promotion date. Hire/promotion dates
on or before the 15th are rounded to the first of that month; hire dates on or
after the 16th are rounded to the first of the following month. Incentive bonus
awards will be prorated from the date of eligibility to the end of the award
period.

TRANSFERS BETWEEN DEPARTMENTS

The award will be prorated between the two departments based upon the effective
date of the new position rounded to the nearest month. Effective dates on or
before the 15th are rounded to the first of that month; effective dates on or
after the 16th are rounded to the first of the following month.

TERMINATIONS OR RESIGNATIONS

An employee must be actively employed on the date bonuses become payable in
order to be eligible for an incentive award for that period.

GUARANTEES

No part of any incentive award to any employee may be guaranteed or in any way
assured unless pre-approved in writing by the Chief Financial Officer and
President. TALX may, at TALX's sole discretion, elect to pay, not pay or amend
the amount payable to any employee under the Incentive Bonus Plan.<PAGE>
                                                                    EXHIBIT 10.7

TALX CORPORATION
--------------------------------------------------------------------------------
FY05 Incentive Bonus Plan Agreement                      Earnings Per Share [ ]%
--------------------------------------------------------------------------------
EFFECTIVE 04/01/04 - 03/31/05
--------------------------------------------------------------------------------
                                                                   Revised 04/04

<Table>
<Caption>
                   Bonus Type                                  Criteria                       Bonus Paid
------------------------------------------------- ----------------------------------- ----------------------------
<S>                                               <C>                                 <C>
ANNUAL GOAL                                       TALX annual EPS goal for the        The EPS annual amount will
EARNINGS PER SHARE (EPS)                          fiscal year 2005 which will be      be paid out at the normal
(April '04- March '05)                            determined by the Board of          payroll following the
                                                  Directors at their May 2004         successful completion of
100% of Total Bonus Potential                     meeting.  The EPS goal includes     the year-end financial
                                                  bonus accrual at 100% of expected   audit.
                                                  payout but excludes effects of
                                                  acquisitions if any.
</Table>

* THE GRADUATED SCALE BELOW SHOULD BE USED IN CALCULATING THE ABOVE EPS BONUS
AWARD FOR THE FY05 INCENTIVE BONUS PLAN.

<Table>
<Caption>
  % of Goal     Payout    % of Goal    Payout    % of Goal    Payout    % of Goal    Payout    % of Goal    Payout
-------------- --------- ------------ --------- ------------ --------- ------------ --------- ------------ ---------
<S>            <C>       <C>          <C>       <C>          <C>       <C>          <C>       <C>          <C>
    125%         150%       116%        132%       106%        112%        97%        94%         88%        76%
    124%         148%       114%        128%       105%        110%        96%        92%         87%        74%
    123%         146%       113%        126%       104%        108%        95%        90%         86%        72%
    122%         144%       112%        124%       103%        106%        94%        88%         85%        70%
    121%         142%       111%        122%       102%        104%        93%        86%         84%        68%
    120%         140%       110%        120%       101%        102%        92%        84%         83%        66%
    119%         138%       109%        118%       100%        100%        91%        82%         82%        64%
    118%         136%       108%        116%        99%        98%         90%        80%         81%        62%
    117%         134%       107%        114%        98%        96%         89%        78%         80%        60%
</Table>

--------------------------------------------------------------------------------
FY05 Incentive Bonus Plan Policy
--------------------------------------------------------------------------------

The TALX incentive bonus plan is designed to deliver significant cash
compensation for superior performance against specific standards. The incentive
bonus plan is an important part of TALX's compensation philosophy, coupled with
our policy of competitive salaries and merit-based increases, the incentive
bonus plan provides for additional compensation opportunities based on the
accomplishment of specific financial objectives and departmental performance
goals.

HOW FY05 INCENTIVE BONUS PLAN AWARDS ARE DETERMINED

Employees with direct sales responsibilities within the Sales organization will
receive a fiscal year position specific incentive compensation plan which
details how quota, commission, and bonuses are earned. All other employees'
incentive bonus plans may have a TALX Earnings Per Share goal portion and may
also have a departmental performance goal component. There will be a graduated
scale enabling payment in excess of the incentive amount for greater than 100%
attainment of the goals as well as enabling payment of a portion for less than
100% attainment of the goals. Effective dates on or before the 15th are rounded
to the first of that month; effective dates on or after the 16th are rounded to
the first of the following month.

FOR CHANGES IN BASE SALARY DURING FY05

The employee's base salary effective at the beginning of FY05, April 1, 2004,
will be the base salary utilized in the calculation of the incentive bonus
awards.

FOR CHANGES IN EMPLOYMENT (FULL-TIME VS. PART-TIME) STATUS DURING FY05

The award will be prorated to reflect the change in employment status based upon
the effective date of the status change rounded to the nearest month.

FOR NEWLY HIRED EMPLOYEE OR PROMOTIONS

Eligibility will begin based upon the hire/promotion date.

FOR TRANSFERS BETWEEN DEPARTMENTS

The award will be prorated between the two departments based upon the effective
date of the new position.

FOR TERMINATIONS OR RESIGNATIONS

An employee must be actively employed on the date bonuses become payable in
order to be eligible for an incentive award for that period.

GUARANTEES

No part of any incentive award to any employee may be guaranteed or in any way
assured unless pre-approved in writing by the Chief Financial Officer and
President. TALX may, at TALX's sole discretion, elect to pay, not pay or amend
the amount payable to any employee under the Incentive Bonus Plan.

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