Document:

Exhibit
4.5

THIS SECURITY IS AN UNSECURED
SENIOR DEBT OBLIGATION OF ZIONS BANCORPORATION. 
THIS SECURITY IS NOT A DEPOSIT OR SAVINGS ACCOUNT AND IS NOT INSURED BY
THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY
NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER
OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY
PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ZIONS
BANCORPORATION, OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

ZIONS
BANCORPORATION

Floating
Rate Senior Notes due April 15, 2008

No. 1                                                                                                                                                                  $250,000,000

CUSIP No. 989701 AP 2 

ISIN No.  US989701AP23

 

ZIONS
BANCORPORATION, a corporation duly organized and existing under the laws of the
State of Utah (herein called the “Company,” which term includes any successor
Person under the Indenture hereinafter referred to), for value received, hereby
promises to pay to Cede & Co., or registered assigns, the principal sum of
Two Hundred Fifty Million Dollars ($250,000,000) on April 15, 2008, and to pay
interest thereon from April 27, 2006 or from the most recent Interest Payment
Date to which interest has been paid or duly provided for, quarterly on January
15, April 15, July 16 and October 15 in each year (each such date, an “Interest
Payment Date”), commencing July 15, 2006. 
Interest will
accrue at the Floating Interest Rate (as defined below), until the
principal hereof is paid or made available for payment.  Any premium and any such installment of
interest that is overdue at any time shall also bear interest (to the extent
that the payment of such interest shall be legally enforceable), at the rate
per annum at which the principal then bears interest, from the date any such
overdue amount first becomes due until it is paid or made available for
payment. Notwithstanding the foregoing, interest on any principal, premium or
installment of interest that is overdue shall be payable on demand.  The interest so payable, and punctually paid
or duly provided for, on any Interest Payment Date will, as provided in such
Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest, which shall be the January 1, April 1, July 1 or
October 1 (whether or not a Business Day), as the case may be, next preceding
such Interest Payment Date. Any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holders of Securities of this
series not less than 10 days prior to such Special Record Date, or be paid at
any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture.

The Floating Interest
Rate shall be, for each Interest Period (as defined below), a per annum rate in
effect for each day of such Interest Period equal to LIBOR (as defined below)
plus 12 basis points, as determined by the Calculation Agent (as defined
below).  The Floating Interest Rate for
each Interest Period will be set quarterly on the first day of each Interest
Period commencing April 27, 2006 (each such date, an “Interest Reset Date”).  The amount of interest for each day that this
Security is outstanding (the “Daily Interest Amount”) shall be calculated by
dividing the interest rate in effect for that day by 360 and multiplying the
result by the outstanding principal amount of this Security.  The amount of interest to be paid on this
Security for each Interest Period shall be calculated by adding the Daily
Interest Amount for each day in such Interest Period.

In
the event that an Interest Payment Date is not a Business Day, interest will be
paid on the next day that is a Business Day, with the same force and effect as
if made on the Interest Payment Date, and without any interest or other payment
with respect to the delay.  If the date
of Stated Maturity for the principal falls on a day that is not a Business Day,
the payment of the principal amount of this Security will be made on the next
succeeding Business Day and no interest will accrue for the period from and
after such date of Stated Maturity.  “Business
Day,” with respect to this Security, is a day other than a

 

1

 

Saturday, a Sunday or any other day on which banking institutions in
Houston, Texas, New York City or Salt Lake City, Utah generally are authorized
or required by law or executive order to close.

                “LIBOR,”
with respect to any Interest Period, shall be the rate (expressed as a
percentage per annum) for deposits in United States dollars for a three-month
period beginning on the second London Banking Day (as defined below) after the
Determination Date (as defined below) that appears on Telerate Page 3750 (as
defined below) as of 11:00 a.m., London time, on the Determination
Date.  If Telerate Page 3750 does not
include this rate or is unavailable on the Determination Date, the Calculation
Agent will request the principal London office of each of four major banks in
the London interbank market, as selected by the Calculation Agent, to provide
that bank’s offered quotation (expressed as a percentage per annum) as of
approximately 11:00 a.m., London time, on the Determination Date to prime
banks in the London interbank market for deposits in a Representative Amount
(as defined below) in United States dollars for a three-month period beginning
on the first day of the applicable Interest Period.  If at least two offered quotations are so
provided, LIBOR for the Interest Period will be the arithmetic mean of those
quotations.  If fewer than two quotations
are so provided, the Calculation Agent will request each of three major banks
in New York City, as selected by the Calculation Agent, to provide that bank’s
rate (expressed as a percentage per annum), as of approximately
11:00 a.m., New York City time, on the Determination Date for loans in a
Representative Amount in United States dollars to leading European banks for a
three-month period beginning on the first day of the applicable Interest
Period.  If at least two rates are so
provided, LIBOR for the interest period will be the arithmetic mean of those
rates.  If fewer than two rates are so
provided, then LIBOR for the Interest Period will be LIBOR in effect with
respect to the immediately preceding Interest Period.

 

                “Determination
Date” with respect to an Interest Period shall be the second London Banking Day
preceding the first day of the Interest Period. 
For the first interest period, the determination date was Monday, April
24, 2006.

 

                “Interest
Period” shall mean each period commencing on and including the fifteenth day of
each of January, April, July and October and ending on and including the
fourteenth day of each of the following April, July, October and January, and,
in the case of the last such period, ending on but not including the Principal
Payment Date.  The first interest period
shall commence on and include April 27, 2006 and end on and include July 14,
2006.

 

                “Representative
Amount” shall mean a principal amount that is representative for a single
transaction in the relevant market at the relevant time.

 

                “Telerate
Page 3750” means the display designated as “Page 3750” on the Moneyline
Telerate Service (or such other page as may replace Page 3750 on that service).

 

                All
percentages resulting from any of the above calculations shall be rounded, if
necessary, to the nearest one hundred-thousandth of a percentage point, with
five one-millionths of a percentage point rounded upwards (e.g., 9.876545% (or
..09876545) being rounded to 9.87655 (or .0987655)) and all dollar amounts used
in or resulting from such calculations shall be rounded to the nearest cent
(with one-half cent being rounded upwards).

 

                The
Floating Interest Rate shall in no event be higher than the maximum rate
permitted by the law of the State of New York or, if higher, the law of the
United States of America.

 

                Upon
the request of the Holder of this Security, the Calculation Agent shall provide
the interest rate then in effect with respect to this Security.  All calculations of the Calculation Agent, in
the absence of manifest error, shall be conclusive for all purposes and binding
on the Company and the Holder of this

 

2

 

Security.  So
long as the Floating Interest Rate is required to be determined with respect to
this Security, there shall at all times be a Calculation Agent.  In the event that any then acting Calculation
Agent shall be unable or unwilling to act, or that such Calculation Agent shall
fail duly to establish the Floating Interest Rate for any Interest Reset
Period, or that the Company proposes to remove such Calculation Agent, the
Company shall appoint, with the written consent of the Trustee, which consent
shall not be unreasonably withheld, another Person which is a bank, trust
company, investment banking firm or other financial institution to act as the
Calculation Agent.

                Payment of the
principal of (and premium, if any) and any such interest on this Security will
be made at the office or agency of the Company maintained for that purpose in
Salt Lake City, Utah, or Houston, Texas in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Company payment of
interest may be made by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register.

 

Reference is hereby made
to the further provisions of this Security set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set
forth at this place.

Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the
reverse hereof by manual signature, this Security shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any purpose.

 

3

 

IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal.

Dated:  April 27, 2006

	
   

  	
  ZIONS BANCORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

Attest:

	
   

  	
   

  	
   

  

 

This is one of the
Securities of the series designated therein referred to in the within-mentioned
Indenture.

Dated:  April 27, 2006

	
   

  	
  ZIONS FIRST NATIONAL BANK

  
	
   

  	
  As Authenticating Agent

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Authorized Officer

  

 

 

4

 

(Reverse of
Security)

This Security is one of a
duly authorized issue of securities of the Company (herein called the “Securities”),
issued and to be issued in one or more series under a Senior Debt Indenture,
dated as of September 10, 2002 (herein called the “Indenture,” which term
shall have the meaning assigned to it in such instrument), between the Company
and J.P. Morgan Trust Company, National Association, as Trustee (herein called
the “Trustee,” which term includes any successor trustee under the Indenture),
and reference is hereby made to the Indenture for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is
one of the series designated on the face hereof.

The Securities of this
series may not be redeemed prior to the Stated Maturity.

There is no sinking fund
for the Securities of this series.

The Indenture contains
provisions for defeasance at any time of the entire indebtedness of this
Security or certain restrictive covenants and
Events of Default with respect to this Security, in each case upon compliance
with certain conditions set forth in the Indenture.

If an Event of Default
with respect to Securities of this series shall occur and be continuing, the
principal of the Securities of this series may be declared due and payable in
the manner and with the effect provided in the Indenture.

The Indenture permits,
with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the
Holders of the Securities of each series to be affected under the Indenture at
any time by the Company and the Trustee with the consent of the Holders of 66 2/3%
in principal amount of the Securities at the time Outstanding of each series to
be affected. The Indenture also contains provisions permitting the Holders of
specified percentages in principal amount of the Securities of each series at
the time Outstanding, on behalf of the Holders of all Securities of such series,
to waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such
consent or waiver by the Holder of this Security shall be conclusive and
binding upon such Holder and upon all future Holders of this Security and of
any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security.

As provided in and subject
to the provisions of the Indenture, the Holder of this Security shall not have
the right to institute any proceeding with respect to the Indenture or for the
appointment of a receiver or trustee or for any other remedy thereunder, unless
such Holder shall have previously given the Trustee written notice of a
continuing Event of Default with respect to the Securities of this series, the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to institute proceedings in respect of such Event of Default as Trustee and
offered the Trustee reasonable indemnity, and the Trustee shall not have
received from the Holders of a majority in principal amount of Securities of
this series at the time Outstanding a direction inconsistent with such request,
and shall have failed to institute any such proceeding, for 60 days after
receipt of such notice, request and offer of indemnity. The foregoing shall not
apply to any suit instituted by the Holder of this Security for the enforcement
of any payment of principal hereof or any premium or interest hereon on or
after the respective due dates expressed herein.

 

5

 

No reference herein to
the Indenture and no provision of this Security or of the Indenture shall alter
or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of (and premium, if any) and interest on this Security at
the times, place and rate, and in the coin or currency, herein prescribed.

As provided in the
Indenture and subject to certain limitations therein set forth, the transfer of
this Security is registrable in the Security Register, upon surrender of this
Security for registration of transfer at the office or agency of the Company in
any place where the principal of and any premium and interest on this Security
are payable, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar duly
executed by, the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities of this series and of like tenor, of
authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

The Securities of this
series are issuable only in registered form without coupons in denominations of
$1,000 and any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series
and of like tenor of a different authorized denomination, as requested by the
Holder surrendering the same.

No service charge shall
be made for any such registration of transfer or exchange, but the Company may
require payment of a sum sufficient to cover any tax or other governmental
charge payable in connection therewith.

Prior to due presentment
of this Security for registration of transfer, the Company, the Trustee and any
agent of the Company or the Trustee may treat the Person in whose name this
Security is registered as the owner hereof for all purposes, whether or not
this Security be overdue, and neither the Company, the Trustee nor any such
agent shall be affected by notice to the contrary.

This Security shall be
governed by and construed in accordance with the laws of the State of New York,
but without regard to principles of conflict of laws.

All terms used in this
Security which are defined in the Indenture shall have the meanings assigned to
them in the Indenture.

 

6

 

ABBREVIATIONS

 

The following abbreviations, when used in the
inscription on the face of this Security, shall be construed as though they
were written out in full according to applicable laws or regulations.

 

                TEN
COM - as tenants in common

 

                TEN
ENT - as tenants by the entireties

 

                JT
TEN - as joint tenants with the right of survivorship and not as tenants in
common

 

                UNIF
GIFT MIN ACT______ Custodian______    —           under Uniform Gifts to Minors Act

                                                     (Cust)                    (Minor)                    ___________________________

                                                                                                                                                    (State)

 

 

Additional abbreviations may also be used
though not in the above list.

 

7

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 

	
  PLEASE
  INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

  	
   

  
	
   

  
	
   

  
	
   

  
	
   

  

 

(Please
Print or Typewrite Name and Address Including Postal Zip Code of Assignee)

 

the attached Security and all rights
thereunder, and hereby irrevocably constitutes and appoints 

 

 

	
   

  
	
   

  

 

 

to transfer said Security on the books of the
Company, with full power of substitution in the premises.

 

 

	
  Dated:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  NOTICE: The signature to this assignment must be
  guaranteed and correspond with the name of the Holder as written upon the
  face of the attached Security in every particular, without alteration or
  enlargement or any change whatsoever.

  
	
   

  	
   

  	
   

  	
   

  

 

 

8Exhibit 10.1

 

AMENDMENT NO.  2 TO

AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

 

This Amendment No.  2 to Amended and Restated Loan
and Security Agreement (this “Amendment”)
is effective as of April 2, 2006, is by and among LASALLE BANK NATIONAL ASSOCIATION,
for itself as a lender, and as Agent (“Agent”)
for the lenders (“Lenders”) from
time to time party to the Amended and Restated Loan Agreement (as defined
below) and APAC CUSTOMER SERVICES, INC. (“Borrower”).

 

Preliminary Statements

 

Agent and Borrower are party to that certain Amended
and Restated Loan and Security Agreement dated as of October 31, 2005 (as
amended, restated, supplemented or otherwise modified from time to time, the “Amended and Restated Loan
Agreement”).  Capitalized
terms used but not defined in this Amendment shall have the meanings ascribed
to such terms in the Amended and Restated Loan Agreement.

 

Borrower has requested, among other things, that
Agent amend the Amended and Restated Loan Agreement to provide for corrections
to the definition of Fixed Charges pursuant to Section 1, the
Indebtedness covenant pursuant to Section 13(b), and the Interest Coverage
covenant pursuant to Section 14(b) as set forth herein and Agent is willing to
do so on the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, in consideration of the foregoing recitals, the mutual
covenants and agreements set forth herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto hereby agree as follows:

 

1.             Amendment to Amended
and Restated Loan Agreement.  In
reliance on the representations and warranties set forth in Section 3 below and
subject to the satisfaction of the conditions set forth in Section 4 below, the
Amended and Restated Loan Agreement is hereby amended as follows:

 

(a)           The definition of “Fixed Charges” in Section 1 of the Loan Agreement is hereby
amended and restated in its entirety as follows:

 

“Fixed
Charges” shall mean for any period, without duplication, scheduled
payments of principal during the applicable period with respect to all
indebtedness of Borrower and its Subsidiaries, on a consolidated basis, for
borrowed money, plus scheduled payments of principal during the applicable
period with respect to all capitalized lease obligations of Borrower and its
Subsidiaries, on a consolidated basis, plus scheduled payments of interest
during the applicable period with respect to all indebtedness of Borrower and
its Subsidiaries, on a consolidated basis, for borrowed money including capital
lease obligations, plus unfinanced Capital Expenditures of Borrower and its
Subsidiaries, on a consolidated basis, during the applicable period, plus
payments during the applicable period in respect of income or franchise taxes of
Borrower and its Subsidiaries, on a consolidated basis.

 

 

(b)           Section 13(b) of the Amended and Restated Loan Agreement
is hereby amended and restated in its entirety, as follows

 

(b)           Indebtedness.

 

Borrower shall not
create, incur, assume or become obligated (directly or indirectly), for any
loans or other indebtedness for borrowed money other than the Revolving Loans,
except that Borrower may (i) borrow money from a Person on an unsecured
and subordinated basis if a subordination agreement in favor of Agent for the
benefit of Lenders and in form and substance satisfactory to Agent in its sole
discretion determined in good faith is executed and delivered to Agent relative
thereto; (ii) maintain its present indebtedness listed on Schedule
11(n) hereto, in each case, together with any refinancing, extension or
renewal thereof so long as the principal amount of such indebtedness and the
Collateral therefor are not increased or expanded, as applicable;
(iii) incur unsecured indebtedness to trade creditors in the ordinary
course of business; (iv) incur purchase money indebtedness or capitalized
lease obligations in connection with Capital Expenditures; (v) incur
operating lease obligations requiring payments not to exceed $12,000,000 in the
aggregate during any Fiscal Year of Borrower; (vi) indebtedness under swaps,
interest rate management agreements, foreign currency or commodity hedge
agreements entered into in the ordinary course of business; and (vii) incur
indebtedness consisting of guaranties of indebtedness described in clauses
(i)-(vi) hereof.

 

(c)           Section 14(b) of the Amended and Restated Loan Agreement is
hereby amended and restated in its entirety, as follows

 

(b)           Interest
Coverage.

 

Borrower shall not permit the ratio of (x) EBITDA for the applicable
period minus unfinanced Capital Expenditures for the applicable period to (y)
interest expense (determined in accordance with generally accepted accounting
principles) for the applicable period of Borrower and its Subsidiaries to be
less than 2.0 to 1.0 as of the last day of each fiscal quarter of Borrower, for
(i) each 1 fiscal quarter period ending on or about December 31,
2005, (ii) the 2 fiscal quarter period ending March 31, 2006,
(iii) the 3 fiscal quarter period ending on or about June 30, 2006 and (iv) each
4 fiscal quarter period ending on the last day of each fiscal quarter of
Borrower thereafter.

 

2.             Representations
and Warranties of Borrower.  Borrower
represents and warrants that, as of the date hereof:

 

(a)           The
execution, delivery and performance by Borrower of this Amendment, are within
the organizational power of Borrower, have been duly authorized by all
necessary action, have received all necessary governmental approval (if any
shall be required), other than approvals which could not reasonably be expected
to have a Material Adverse Effect on Borrower, and do not and will not
contravene or conflict with any provision of law applicable to Borrower, the
articles of incorporation, by-laws or any other

 

2

 

organizational
document of Borrower, any order, judgment or decree of any court or
governmental agency, or any agreement, instrument or document binding upon
Borrower or any property of Borrower, in each case, which contravention or
conflict could reasonably be expected to have a Material Adverse Effect on
Borrower;

 

(b)           Each
of the Amended and Restated Loan Agreement, as amended by this Amendment and
the Other Agreements to which Borrower is a party are the legal, valid and
binding obligations of Borrower, enforceable against Borrower in accordance
with their respective terms, except as limited by applicable bankruptcy,
insolvency or other laws related to enforcement of creditor’s rights generally
and general principals of equity related to enforcement;

 

(c)           After
giving effect to the amendments set forth herein, no Event of Default or event
or condition which upon notice, lapse of time or both would constitute an Event
of Default has occurred and is continuing; and

 

(d)           After
giving effect to the amendments set forth herein, the representations and
warranties of the Borrower contained in the Amended and Restated Loan Agreement
and the Other Agreements are true and accurate as of the date hereof with the
same force and effect as if such had been made on and as of the date hereof,
except for those specific to a past date (which shall be true and correct as of
such past date).

 

3.             Conditions
Precedent.  The effectiveness of this
Amendment is subject to the satisfaction of the following condition precedent:

 

(a)           Agent
shall have received this Amendment executed by Borrower, Agent and LaSalle Bank
National Association;

 

(b)           Agent
shall have received the Consent and Reaffirmation executed by each Obligor
(other than the Borrower); and

 

(c)           All
proceedings taken in connection with this Amendment and all documents,
instruments and other legal matters incident thereto shall be satisfactory to
Agent and its legal counsel such acceptance to be evidenced by Agent’s
execution hereof.

 

4.             No Novation.  This Amendment is not intended to nor shall
be construed to create a novation or accord and satisfaction with respect to
any of the Liabilities.

 

5.             Severability.  Any provision of this Amendment that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof or affecting the validity or
enforceability of such provision in any other jurisdiction.

 

6.             Ratification.  Except as expressly waived and modified
hereby, the Amended and Restated Loan Agreement and the Other Agreements are
each hereby are ratified and confirmed by the parties hereto and remain in full
force and effect in accordance with the respective terms thereof.  Agent and Lenders willingness to provide the
waivers

 

3

 

herein and agree
to the amendments herein shall not be deemed to indicate or require Agent’s or
Lenders’ willingness to agree to any deviation from the terms of the Amended
and Restated Loan Agreement (as modified hereby) in the future.

 

7.             Choice of Law.  This Amendment shall be governed and
controlled by the laws of the State of Illinois as to interpretation,
enforcement, validity, construction, effect and in all other respects.

 

[Remainder of page intentionally
left blank, signatures to follow]

 

4

 

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be duly executed under seal and delivered by their respective
duly authorized officers on the date first written above.

 

	
   

  	
  LASALLE BANK NATIONAL

  ASSOCIATION, as Agent and a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By 

  	
   /s/ Andrew J.
  Heinz

  	
   

  
	
   

  	
  Its

  	
   First Vice
  President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  APAC CUSTOMER SERVICES, INC.,

  	
   

  
	
   

  	
  as Borrower

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By 

  	
   /s/ George H.
  Hepburn III

  	
   

  
	
   

  	
  Its

  	
   Senior Vice
  President and CFO

  	
   

  
						

 

5

 

CONSENT AND REAFFIRMATION

 

The undersigned (“Guarantors”),
hereby (i) acknowledge receipt of a copy of the foregoing Amendment
No. 2 to Amended and Restated Loan and Security Agreement (the “Amendment”); (ii) consent to Borrower’s
execution and delivery of the Amendment; and (iii) reaffirm that each of
the Other Agreements that it is a party to continue to remain in full force and
effect.  Although Guarantors have been
informed of the matters set forth herein and have acknowledged same, Guarantors
understand that Agent and Lenders have no obligation to inform Guarantors of
such matters in the future or to seek Guarantors’ acknowledgment to future
amendments, waivers or consents, and nothing herein shall create such a duty.

 

IN WITNESS WHEREOF, Guarantors have executed this
Consent and Reaffirmation on and as of the date of the Amendment. 

 

	
   

  	
  APAC CUSTOMER SERVICES, L.L.C.

  APAC CUSTOMER SERVICES OF ILLINOIS, INC.

  APAC CUSTOMER
  SERVICES GENERAL

  PARTNER, INC.

  ITI HOLDINGS, LLC

  APAC CUSTOMER SERVICES OF IOWA, L.L.C.

  APAC CUSTOMER SERVICES OF TEXAS, L.P.

  by its general partner, APAC Customer Services

  General Partner, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Each By 

  	
   /s/ Robert J.
  Keller

  	
   

  
	
   

  	
  Its

  	
           
  President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}]]