Document:

EXHIBIT 10.1

 

AMENDMENT
NO. 2 TO CREDIT AGREEMENT

This Amendment No. 2 to Credit Agreement, dated as of February 12, 2007 (this “Amendment
No. 2”), is entered into among AmeriPath, Inc., a Delaware corporation (the “Borrower”), AmeriPath Holdings, Inc., a Delaware
corporation (“Holdings”), the Lenders signatory hereto and Wachovia
Bank, National Association, in its capacity as administrative agent for the
Lenders (in such capacity, the “Administrative Agent”), and amends the
Credit Agreement dated as of January 31, 2006 (as amended to the date hereof
and as the same may be further amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”) entered into among the Borrower,
Holdings, the institutions from time to time party thereto as Lenders (the “Lenders”),
the Administrative Agent and the other agents and arrangers named therein.  Capitalized terms used herein and not
otherwise defined herein shall have the meanings ascribed to them in the Credit
Agreement.

W I T N E S S E T
H:

WHEREAS, Holdings intends to form a new subsidiary,
AmeriPath Intermediate Holdings, Inc. (“Intermediate Holdings”), which
will be the direct parent of the Borrower and Intermediate Holdings intends to
issue $125,000,000 of Senior Unsecured Floating Rate Toggle Notes due 2014 (the
“Intermediate Holdings Floating Rate Notes”);

WHEREAS, the Borrower and Holdings have requested that
the Administrative Agent and the Lenders amend the Credit Agreement in certain
respects as set forth herein and the Lenders and the Administrative Agent are
agreeable to the same, subject to the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises and
for other good and valuable consideration (the receipt and sufficiency of which
are hereby acknowledged), the parties hereto hereby agree as follows:

Section
1.              Amendment to
Credit Agreement

Subject to the satisfaction of the conditions set
forth in Section 2 of this Amendment, the Credit Agreement is, effective
as of the date specified in Section 2 hereof, amended as set forth
below; provided, however, such amendments shall be automatically
revoked and shall be of no further force or effect should the Borrower and
Intermediate Holdings fail to comply in all respects with Section 4
hereof:

(a)           Amendments to
Section 1.01 of the Credit Agreement. 
Section 1.01 is hereby amended as follows:

(i)            The
definition of “Capital Expenditures” shall be amended by inserting the
following at the conclusion of the existing definition:

 

“Notwithstanding the foregoing, “Capital Expenditures”
shall include any additions to property, plant and equipment and other capital
expenditures by the Borrower and its Subsidiaries to the extent such
expenditures are made with the net cash proceeds from the issuance of the
Intermediate Holdings Floating Rate Notes.”

(ii)           The
definition of “Consolidated Cash Interest Expense” shall be amended by deleting
sub-clauses (i) and (ii) appearing in clause (a) of such definition and
replacing them with the following:

“(i) the interest expense (including imputed interest
expense in respect of Capital Lease Obligations) of Holdings (to the extent
paid with funds received as a dividend or other distribution from the Borrower
made for the purpose of allowing Holdings to make such payment), Intermediate
Holdings (to the extent paid with funds received as a dividend or other
distribution from the Borrower made for the purpose of allowing Intermediate
Holdings to make such payment), the Borrower and the subsidiaries for such
period, determined on a consolidated basis in accordance with GAAP, (ii) any
interest accrued during such period in respect of Indebtedness of Holdings (to
the extent such interest is paid with funds received as a dividend or other
distribution from the Borrower made for the purpose of allowing Holdings to
make such payment), Intermediate Holdings (to the extent such interest is paid
with funds received as a dividend or other distribution from the Borrower made
for the purpose of allowing Intermediate Holdings to make such payment), the Borrower
or any subsidiary that is required to be capitalized rather than included in
such consolidated interest expense for such period in accordance with GAAP
(less the amount of such capitalized interest that is included in Capital
Expenditures in accordance with GAAP),”

(iii)          The
definition of “Qualified Holdings Discount Debt” shall be amended and restated
as follows:

“Qualified Holdings Discount Debt”: means
unsecured Indebtedness of Holdings, Intermediate Holdings or a Parent that
(a) is not subject to any Guarantee by the Borrower or any Subsidiary Loan
Party, (b) does not mature prior to the date that is 180 days after the
Tranche B Maturity Date, (c) has no scheduled amortization or payments of
principal prior to such 180th day (it being understood that such Indebtedness
may have mandatory prepayment, repurchase or redemption provisions satisfying
the requirements of clause (e) hereof), (d) does not require any payments
in cash of interest or other amounts in respect of the principal thereof for at
least four (4) years from the date of issuance or incurrence thereof, and
(e) has mandatory prepayment, repurchase or redemption, covenant, default
and remedy provisions customary for senior discount notes or senior pay-in-kind
notes of an issuer that is the parent of a borrower under senior secured credit
facilities and in any event, with respect to default and remedy provisions, not
materially more restrictive than those set forth in the Senior Subordinated
Notes, taken as a whole (other than provisions customary for senior discount
notes of a holding company).

(iv)          The
definition of “Holdings” shall be amended and restated as follows:

 

 2 
 

 

“Holdings”: means AmeriPath Holdings, Inc., a
Delaware corporation; provided that
for the purposes of Article 3, 5, 6 and 7 only (other than to the extent any
such Article is amended by Section 1 of Amendment No. 2) and any defined terms
to the extent used therein (unless the context requires otherwise) references
to “Holdings” shall be deemed to include “Intermediate Holdings”.

(v)           The definition of “Loan Parties”
shall be amended and restated as follows:

“Loan Parties” means Holdings, Intermediate Holdings, the Borrower
and the Subsidiary Loan Parties and each Permitted Joint Venture Loan Party.

(vi)          The
following new definitions shall be added to Section 1.01 in alphabetical
order:

“Amendment No. 2” means Amendment No. 2 to this Agreement, among
the Borrower, Holdings, Intermediate Holdings and the Required Lenders, dated
February 12, 2007.

“Amendment No. 2 Effective Date” means February 12, 2007, the
date of Amendment No. 2 to this Agreement.

“Immaterial Subsidiary” means, at any time,
one or more Subsidiaries of the Borrower that did not together with each other
Immaterial Subsidiary, as of the last day of the fiscal quarter of the Borrower
most recently ended, have total tangible assets of more than 5% of the consolidated
tangible assets of the Borrower and the Subsidiaries.

“Intermediate Holdings Floating Rate Notes” means Senior Unsecured
Floating Rate Toggle Notes due 2014 issued by Intermediate Holdings in an
aggregate principal amount not to exceed $175,000,000.

“Intermediate Holdings” means AmeriPath Intermediate Holdings,
Inc., a Delaware corporation.

(b)           Amendments to Section 5.12 of the Credit Agreement.  Section 5.12
of the Credit Agreement is hereby amended by adding the words “or Immaterial
Subsidiary” immediately after each of the two appearances of the words “Inactive
Subsidiary” in such Section.

(c)           Amendments to
Section 6.01 of the Credit Agreement. 
Section 6.01(a) of the Credit Agreement is hereby amended as
follows:

(i)            Clause (xi) thereof is hereby
amended and restated as follows:

“(xi)        with respect to
Holdings or Intermediate Holdings, Qualified Holdings Debt; provided
that other than with respect to any additional principal amounts resulting from
the accrual of pay-in-kind interest, (A)(1) if the net cash proceeds 

 3 
 

 

of such Indebtedness are contributed to the Borrower,
such Indebtedness may only be issued or incurred to the extent that after
giving effect to the incurrence of such additional Indebtedness on a Pro Forma
Basis, the Holdings Leverage Ratio would be less than 6.00 to 1.00 or (2) if
clause (A)(1) does not apply, such Indebtedness may only be issued or incurred
to the extent that after giving effect to the incurrence of such additional
Indebtedness on a Pro Forma Basis, the Holdings Leverage Ratio would be less
than 5.50 to 1.00 and (B) no Default has occurred and is continuing or would
result therefrom;”;

(ii)           The word “and” at the conclusion of
clause (xvi) thereof is deleted, the period at the conclusion of clause (xvii)
is replaced with “; and”, and a new clause (xviii) is inserted to read as follows:

“(xviii)   the Intermediate
Holdings Floating Rate Notes (including interest previously paid “in kind” or
added to the principal amount thereof).”

(d)           Amendments to
Section 6.03 of the Credit Agreement. 
Section 6.03 of the Credit Agreement is hereby amended as
follows:

(i)            Clause (c) is amended and restated
as follows:

“(c)        Holdings will not engage
in any business or activity other than the ownership of all the outstanding
shares of capital stock of Intermediate Holdings (but no other subsidiaries)
and engaging in corporate and administrative functions and other activities
incidental thereto.  Holdings will not
own or acquire any assets (other than Equity Interests of Intermediate Holdings
and the cash proceeds of any Restricted Payments permitted by Section 6.08,
the proceeds of any issuance of Indebtedness or Equity Interests permitted by
this Agreement pending application as required by this Agreement or reserved to
pay expenses, or any Swap Agreement permitted by this Agreement) or incur any
liabilities (other than liabilities under and permitted to be incurred under
the Loan Documents and liabilities reasonably incurred in connection with its
maintenance of its existence and activities incidental thereto).”

(ii)           A new clause (d) is added immediately
following clause (c) as follows:

“(d)        Intermediate Holdings
will not engage in any business or activity other than the ownership of all the
outstanding shares of capital stock of the Borrower (but no other subsidiaries)
and engaging in corporate and administrative functions and other activities
incidental thereto.  Intermediate
Holdings will not own or acquire any assets (other than Equity Interests of the
Borrower and the cash proceeds of any Restricted Payments permitted by Section 6.08,
the proceeds of any issuance of Indebtedness or Equity Interests permitted by
this Agreement pending application as required by this Agreement or reserved to
pay expenses, or any Swap Agreement permitted by this Agreement) or incur any
liabilities (other than liabilities under and permitted to be incurred under
the Loan Documents and liabilities reasonably incurred in connection with its
maintenance of its existence and activities incidental thereto).”

(e)           Amendments to
Section 6.04 of the Credit Agreement. 
Section 6.04 of the Credit Agreement is hereby amended as follows:

 4 
 

 

(i)            Clause (iv) thereof is hereby
amended and restated as follows:

“(iv)         Investments by Holdings in Intermediate Holdings,
by Intermediate Holdings in the Borrower and by the Borrower and the
Subsidiaries in Equity Interests in their respective Subsidiaries, provided
that (A) any such Equity Interests held by a Loan Party shall be pledged
pursuant to the Collateral Agreement (subject to the limitations applicable to
common stock of a Foreign Subsidiary referred to in the definition of “Collateral
and Guarantee Requirement”) and (B) the aggregate amount of investments (other
than investments set forth on Schedule 6.04) by Loan Parties in
Subsidiaries that are not Loan Parties (together with outstanding intercompany
loans permitted under clause (B) to the proviso to Section 6.04(v) and
outstanding Guarantees permitted to be incurred under clause (B) to the proviso
to Section 6.04(vi)) shall not exceed $5,000,000 at any time outstanding (in
each case determined without regard to any write-downs or write-offs);”

(f)            Amendments to
Section 6.07 of the Credit Agreement. 
Section 6.07 of the Credit Agreement is hereby amended and
restated as follows:

“SECTION 6.07.    Swap
Agreements.  Neither Holdings,
Intermediate Holdings nor the Borrower will, nor will they permit any
Subsidiary to, enter into any Swap Agreement, except (a) Swap Agreements
entered into to hedge or mitigate risks to which Intermediate Holdings, the
Borrower or any Subsidiary has actual exposure (other than those in respect of
Equity Interests of Intermediate Holdings, the Borrower or any of the
Subsidiaries) and (b) Swap Agreements entered into in order to effectively cap,
collar or exchange interest rates (from fixed to floating rates, from one
floating rate to another floating rate or otherwise) with respect to any
interest-bearing liability or investment of Intermediate Holdings, the Borrower
or any Subsidiary.”

(g)           Amendment to
Section 6.08 of the Credit Agreement. 
Section 6.08 is hereby amended as follows:

(i)            The dollar amount immediately before
the words “in any calendar year” in clause (iv) of Section 6.08(a) is
deleted and replaced with “$1,250,000”;

(ii)           Clause (viii) of Section 6.08(a)
is hereby amended and restated as follows:

“(viii)     the Borrower may make
Restricted Payments to Holdings in an amount necessary to permit Holdings to pay
(or to make Restricted Payments to allow a Parent to pay) interest in cash
(including interest previously paid “in kind” or added to the principal amount
thereof after the Effective Date) on (A) the Holdings Senior Subordinated
Notes and (B) Qualified Holdings Debt, but only to the extent the proceeds
(together with a pro rata portion of related transaction expenses
paid from such proceeds) of such Qualified Holdings Debt were contributed to
Borrower as a common equity capital contribution, provided that (A) the
Borrower has made all prepayments required pursuant to Section 2.11(d) prior to
or contemporaneously with any such payment of interest, (B) no Default or Event
of Default shall have occurred and be continuing at the time of any such
payment or would result therefrom, (C) all Restricted 

 5 
 

 

Payments made pursuant to this clause (viii) are used
by Holdings or a Parent for the purposes specified herein within 20 days of
receipt thereof and (D) after giving effect to any Restricted Payment under
this clause (viii) the Borrower shall be, assuming that such Holdings Senior
Subordinated Notes and/or Qualified Holdings Debt paid cash interest for the
preceding four consecutive fiscal quarters, in pro forma
compliance with Section 6.12 based on the latest four consecutive fiscal
quarter period for which financial statements are available (it being
understood that in calculating the Borrower’s pro forma
compliance with Section 6.12, Consolidated Cash Interest Expense shall include
interest on the Holdings Senior Subordinated Notes and/or Qualified Holdings
Debt, as applicable, in an amount not to exceed the amount of interest that
would accrue on such Indebtedness in one four consecutive fiscal quarter period);”.

(iii)          The word “and” at the conclusion of
clause (xii) of Section 6.08(a) is deleted, the word “and” is added at
the conclusion of clause (xiii), and a new clause (xiv) is inserted to read as
follows:

“(xiv)     the Borrower may make
Restricted Payments to Intermediate Holdings in an amount necessary to permit
Intermediate Holdings to pay (or to make Restricted Payments to allow a Parent
to pay) interest in cash (including interest previously paid “in kind” or added
to the principal amount thereof after the Amendment No. 2 Effective Date) on
the Intermediate Holdings Floating Rate Notes; provided
that (A) the net cash proceeds from the issuance of such Intermediate Holdings
Floating Rate Notes were contributed to Borrower as a common equity capital
contribution, (B) no Event of Default shall have occurred and be continuing at
the time of any such payment or would result therefrom and (C) all Restricted
Payments made pursuant to this clause (xiv) are used by Intermediate Holdings
or a Parent for the purposes specified herein within 20 days of receipt
thereof.”

(iv)          Section 6.08(a)
is hereby amended by inserting a new paragraph after clause (xiv) as follows:

“Notwithstanding the foregoing, for the purposes of
clauses (i) - (xiv) of this Section 6.08(a), all references to the
ability of the Borrower to make Restricted Payments, dividends or other
distributions to the Holdings shall also permit the Borrower to make such
Restricted Payments, dividends or other distributions to Intermediate Holdings,
and all references to the ability of Holdings to make Restricted Payments,
dividends or other distributions shall also permit Intermediate Holdings to
make such Restricted Payments, dividends or other distributions.”

(v)           Clause (ii) of Section
6.08(b) is hereby amended by inserting “, Intermediate Holdings”
immediately before the words “or a Parent”.

(h)           Amendment to
Section 6.10 of the Credit Agreement. 
Clause (i) of Section 6.10(b) is hereby amended by inserting the
words “the Intermediate Holdings Floating Rate Notes” immediately after the
words “Additional Senior Debt,”.

 6 
 

 

(i)            Amendment to
Section 6.12 of the Credit Agreement. 
Section 6.12(a) is hereby amended as follows:

(i)            The table appearing in such Section
is deleted and replaced in its entirety as follows:

	
  Date

  	
   

  	
  Ratio

  	
   

  
	
  December 31,
  2006

  	
   

  	
  1.875 to 1.00

  	
   

  
	
  March 31, 2007

  	
   

  	
  1.875 to 1.00

  	
   

  
	
  June 30, 2007

  	
   

  	
  1.875 to 1.00

  	
   

  
	
  September 30,
  2007

  	
   

  	
  2.0 to 1.00

  	
   

  
	
  December 31,
  2007

  	
   

  	
  2.0 to 1.00

  	
   

  
	
  March 31, 2008

  	
   

  	
  2.25 to 1.00

  	
   

  
	
  June 30, 2008

  	
   

  	
  2.25 to 1.00

  	
   

  
	
  September 30,
  2008

  	
   

  	
  2.25 to 1.00

  	
   

  
	
  December 31,
  2008

  	
   

  	
  2.25 to 1.00

  	
   

  
	
  March 31, 2009

  	
   

  	
  2.50 to 1.00

  	
   

  
	
  June 30, 2009

  	
   

  	
  2.50 to 1.00

  	
   

  
	
  September 30,
  2009

  	
   

  	
  2.50 to 1.00

  	
   

  
	
  December 31,
  2009

  	
   

  	
  2.50 to 1.00

  	
   

  
	
  March 31, 2010

  	
   

  	
  2.75 to 1.00

  	
   

  
	
  June 30, 2010

  	
   

  	
  2.75 to 1.00

  	
   

  
	
  September 30,
  2010

  	
   

  	
  2.75 to 1.00

  	
   

  
	
  December 31,
  2010

  	
   

  	
  2.75 to 1.00

  	
   

  
	
  March 31, 2011 and
  thereafter

  	
   

  	
  3.0 to 1.00

  	
   

  

 

(j)            Amendment to
Section 6.14 of the Credit Agreement. 
Section 6.14 is hereby amended as follows:

(i)            The table appearing
in such Section is deleted and replaced in its entirety as follows:

 

 7 

 

	
  Fiscal Year

  	
   

  	
  Maximum 

  Capital Expenditures

  
	
  2006

  	
   

  	
  $40.0 million

  
	
  2007

  	
   

  	
  $67.0 million

  
	
  2008

  	
   

  	
  $45.0 million

  
	
  2009

  	
   

  	
  $40.0 million

  
	
  2010

  	
   

  	
  $40.0 million

  
	
  2011

  	
   

  	
  $40.0 million

  
	
  2012

  	
   

  	
  $40.0 million

  
	
  2013

  	
   

  	
  $40.0 million

  

 

Section
2.              Conditions Precedent to the
Effectiveness of this Amendment No. 2

(a)            Section 1 of this Amendment shall become effective as of
the date (the “Amendment No. 2 Effective Date”) when, and only when,
each of the following conditions precedent shall have been (or is or will be
substantially concurrently therewith) satisfied or waived by the Administrative
Agent:

(i)            The Administrative
Agent shall have received this Amendment No. 2, duly executed by the Borrower,
Intermediate Holdings, Holdings, the Administrative Agent and the Required
Lenders;

(ii)           The Administrative
Agent shall have received a supplement to the Collateral Agreement, duly
executed by Intermediate Holdings, in form and substance reasonably
satisfactory to the Administrative Agent;

(iii)          All corporate and
other proceedings, and all documents, instruments and other legal matters in
connection with the transactions contemplated by this Amendment No. 2,
shall be reasonably satisfactory in all respects to the Administrative Agent;

(iv)          The Borrower shall
have paid (1) the Administrative Agent the fees in the amounts previously
agreed to be received on the Amendment No. 2 Effective Date and (2) all
reasonable out-of-pocket costs and expenses of the Administrative Agent in connection
with the preparation, reproduction, execution and delivery of this Amendment
No. 2 (including, without limitation, the reasonable fees and
out-of-pocket expenses of counsel for the Administrative Agent with respect
thereto);

(v)           Each Lender that
shall have duly executed this Amendment No. 2 (each such Lender, an “Approving
Lender”), shall have been paid the fees in the amounts previously agreed to be
paid to each Approving Lender in connection with this Amendment No. 2.

(vi)          The Administrative
Agent shall have received evidence reasonably satisfactory to the
Administrative Agent demonstrating that, after giving pro forma effect to the
incurrence of the Intermediate Holdings Floating Rate Notes, the Borrower shall
be in compliance on a Pro Forma Basis with the Financial Performance Covenants;
provided

 8 
 

 

that the
issuance of the Intermediate Holdings Floating Rate Notes shall not be a condition
precedent to the effectiveness of this Amendment No. 2; and

(vii)         The Administrative
Agent shall have received a certificate, dated the Amendment No. 2 Effective
Date and signed by a Financial Officer of Borrower, confirming (i) compliance
in all material respects with all the terms and provisions set forth in this
Amendment No. 2, (ii) at the time of and immediately after giving effect to
this Amendment No. 2, no Default or Event of Default shall have occurred and be
continuing and (iii) that each of the representations and warranties made by
any Loan Party set forth in Section 3 hereof, in Article III to the
Credit Agreement or in any other Loan Document shall be true and correct in all
material respects (except that any representation and warranty that is
qualified as to “materiality” or “Material Adverse Effect” shall be true and
correct in all respects) on and as of the Amendment No. 2 Effective Date with
the same effect as though made on and as of such date, except to the extent
such representations and warranties expressly relate to an earlier date.

Section
3.              Representations and Warranties

On and as of the Amendment No. 2 Effective Date, after
giving effect to this Amendment No. 2, each Loan Party hereby represents and
warrants to the Administrative Agent and each Lender as follows:

(a)           this Amendment has
been duly authorized, executed and delivered by the Borrower and Holdings and
constitutes the legal, valid and binding obligation of each of the Borrower and
Holdings enforceable against the Borrower and Holdings in accordance with its
terms and the Credit Agreement, as amended by this Amendment No. 2, constitutes
the legal, valid and binding obligation of the Borrower and Holdings
enforceable against the Borrower and Holdings in accordance with its terms;

(b)           No Default or Event
of Default under the Credit Agreement exists or is continuing or would exist
immediately after giving effect to this Amendment No. 2.

Section
4.              Affirmative Covenant

Borrower and Intermediate Holdings covenant and agree
that promptly following the issuance of the Intermediate Holdings Floating Rate
Notes, Intermediate Holdings shall make a capital contribution to Borrower in
an amount equal to the net cash proceeds received by Intermediate Holdings from
the issuance of the Intermediate Holdings Floating Rate Notes. The Borrower
shall use such net cash proceeds for general corporate purposes, including to
consummate Permitted Acquisitions.

Section
5.              Fees and Expenses

The Borrower agrees to pay on the Amendment No. 2
Effective Date all reasonable out-of-pocket costs and expenses of the
Administrative Agent in connection with the preparation, reproduction,
execution and delivery of this Amendment No. 2 (including, without limitation,
the reasonable fees and out-of-pocket expenses of counsel for the
Administrative Agent with respect thereto).

 9 
 

 

Section
6.              Reference to and Effect on the
Loan Documents

(a)            As of the Amendment
No. 2 Effective Date, each reference in the Credit Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each
reference in the other Loan Documents to the Credit Agreement (including,
without limitation, by means of words like “thereunder,” “thereof” and words of
like import), shall mean and be a reference to the Credit Agreement as amended
hereby, and this Amendment No. 2 and the Credit Agreement shall be read
together and construed as a single instrument. 
Each of the table of contents and lists of Exhibits and Schedules of the
Credit Agreement shall be amended to reflect the changes made in this Amendment
No. 2 as of the Amendment No. 2 Effective Date.

(b)           As of the Amendment
No. 2 Effective Date, Intermediate Holdings hereby acknowledges that it has
received and reviewed a copy of the Credit Agreement and acknowledges and
agrees to be bound by all covenants, agreements and acknowledgments in the
Credit Agreement and any other Loan Document and to perform all obligations and
duties required of it by the Credit Agreement.

(c)            Except as expressly
amended hereby or specifically waived above, all of the terms and provisions of
the Credit Agreement and all other Loan Documents are and shall remain in full
force and effect and are hereby ratified and confirmed.

(d)           The execution,
delivery and effectiveness of this Amendment No. 2 shall not, except as
expressly provided herein, operate as a waiver of any right, power or remedy of
the Lenders, the Borrower, Holdings, or the Administrative Agent under any of
the Loan Documents, nor constitute a waiver or amendment of any other provision
of any of the Loan Documents or for any purpose except as expressly set forth
herein.

(e)            This Amendment No.
2 is a Loan Document.

Section
7.              Execution in Counterparts

This Amendment No. 2 may be executed in any number of
counterparts and by different parties in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.  Signature pages may be detached from multiple
separate counterparts and attached to a single counterpart so that all
signature pages are attached to the same document.  Delivery of an executed counterpart by
telecopy shall be effective as delivery of a manually executed counterpart of
this Amendment No. 2.

Section
8.              Governing Law

This Amendment No. 2 shall be governed by and
construed in accordance with the law of the State of New York.

Section
9.              Section Titles

The section titles contained in this Amendment No. 2
are and shall be without substantive meaning or content of any kind whatsoever
and are not a part of the agreement between

 

 10 
 

the parties hereto, except when used to reference a
section.  Any reference to the number of
a clause, subclause or subsection of any Loan Document immediately followed by
a reference in parenthesis to the title of the section of such Loan Document
containing such clause, subclause or subsection is a reference to such clause,
subclause or subsection and not to the entire section; provided,
however, that, in case of direct
conflict between the reference to the title and the reference to the number of
such section, the reference to the title shall govern absent manifest
error.  If any reference to the number of
a section (but not to any clause, subclause or subsection thereof) of any Loan
Document is followed immediately by a reference in parenthesis to the title of
a section of any Loan Document, the title reference shall govern in case of
direct conflict absent manifest error.

Section
10.           Notices

All communications and notices hereunder shall be
given as provided in the Credit Agreement.

Section 11.           Severability

The fact that any term or provision of this Amendment
No. 2 is held invalid, illegal or unenforceable as to any person in any
situation in any jurisdiction shall not affect the validity, enforceability or
legality of the remaining terms or provisions hereof or the validity, enforceability
or legality of such offending term or provision in any other situation or
jurisdiction or as applied to any person.

Section
12.           Successors

The terms of this Amendment No. 2 shall be binding
upon, and shall inure to the benefit of, the parties hereto and their
respective successors and assigns.

Section
13.           Waiver of Jury Trial

EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES TRIAL BY
JURY IN ANY ACTION OR PROCEEDING WITH RESPECT TO THIS AMENDMENT NO. 2 OR
ANY OTHER LOAN DOCUMENT.

[Signature pages
follow.]

 

 11 

 

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first written
above.

	
  

  	
  AMERIPATH, INC.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ David L. Redmond

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  David L. Redmond

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  President

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  AMERIPATH HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ David L. Redmond

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  David L. Redmond

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  President

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  AMERIPATH INTERMEDIATE HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ David L. Redmond

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  David L. Redmond

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  President

  
								

 

 

	
  

  	
  WACHOVIA BANK, NATIONAL ASSOCIATION, as
  Administrative Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Scott Santa Cruz

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  Scott Santa Cruz

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  DirectorExhibit 10.1

SHAREHOLDER AGREEMENT dated as of February 14, 2007
(this “Agreement”), by and between Equifax Inc., a Georgia
corporation (“Parent”), and William W. Canfield (“Shareholder”).

WHEREAS, Parent, Chipper Corporation, a Missouri corporation and a wholly owned
subsidiary of Parent (“Merger Sub”), and TALX Corporation, a Missouri corporation (the “Company”),
propose to enter into an Agreement and Plan of Merger dated as of the date
hereof (as the same may be amended or supplemented, the “Merger Agreement;”
terms used but not defined herein shall have the meanings set forth in the
Merger Agreement) providing for the merger of the Company with and into Merger
Sub (the “Merger”), upon the terms and subject to the conditions set
forth in the Merger Agreement;

WHEREAS, Shareholder owns the number of
shares of capital stock of the Company set forth on Schedule A hereto (such shares of capital stock of the Company
being referred to herein as Shareholder’s “Original Shares;” the
Original Shares, together with any other shares of capital stock of the Company
or other voting securities of the Company acquired by Shareholder after the
date hereof and during the term of this Agreement (including through the
exercise of any warrants, stock options or similar instruments), being
collectively referred to herein as Shareholder’s “Subject Shares”);  and

WHEREAS, as a condition to its willingness
to enter into the Merger Agreement, Parent has required that Shareholder enter
into this Agreement.

NOW, THEREFORE, in consideration of the
foregoing the representations, warranties, covenants and agreements set forth
herein and in the Merger Agreement, the parties hereto, intending to be legally
bound, agree as follows:

1.             Representations and Warranties
of Shareholder.  Shareholder hereby
represents and warrants to Parent as of the date hereof as follows:

(a)           Execution and Delivery;
Enforceability.  This Agreement has
been duly executed and delivered by Shareholder and, assuming the due
authorization, execution and delivery by Parent, constitutes a valid and
binding obligation of Shareholder, enforceable against Shareholder in
accordance with its terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and similar Laws of general applicability
relating to or affecting creditors’ rights and to general equity
principles.  The execution and delivery
of this Agreement and the consummation of the transactions contemplated hereby
and compliance by Shareholder with the provisions hereof do not and will not conflict
with, or result in any violation or breach of, or default (with or without
notice or lapse of time, or both) under, or give rise to a right of, or result
in, termination, cancellation or acceleration of any obligation or to loss of a
material benefit under, or result in the creation of any Lien in or upon any of
the properties or assets of Shareholder under, or give rise to any increased,
additional, accelerated or guaranteed rights or entitlements under, any
provision of (i) any Contract to which Shareholder is a party or any of the
properties or assets of Shareholder is subject or (ii) subject to the
governmental filings and other matters referred to in the following sentence,
any (A) statute, law, ordinance, rule or regulation or (B) any judgment, order
or decree, in each case, applicable to Shareholder or his properties or assets,
other than any such conflicts, violations, breaches, defaults, rights, losses,

Liens or
entitlements that individually or in the aggregate would not reasonably be expected
to impair in any material respect the ability of Shareholder to perform his
obligations under this Agreement or prevent or materially impede, interfere
with, hinder or delay the consummation of any of the transactions contemplated
by this Agreement.  No consent, approval,
order or authorization of, or registration, declaration or filing with, any
Governmental Entity is required by or with respect to Shareholder in connection
with the execution and delivery of this Agreement by Shareholder, the consummation
by Shareholder of the transactions contemplated by this Agreement or the
compliance by Shareholder with the provisions of this Agreement, except for (1)
filings under the HSR Act and any other applicable competition, merger control,
antitrust or similar law, (2) filings with the SEC of such reports under the
Exchange Act as may be required in connection with this Agreement and the
transactions contemplated hereby and (3) such other consents, approvals,
orders, authorizations, registrations, declarations and filings the failure of
which to be obtained or made individually or in the aggregate would not
reasonably be expected to impair in any material respect the ability of
Shareholder to perform his obligations under this Agreement or prevent or
materially impede, interfere with, hinder or delay the consummation of any of
the transactions contemplated by this Agreement.

(b)           Ownership of Shares.  Shareholder is the record and beneficial
owner of, or is trustee of a trust that is the record holder of, and whose
beneficiaries are the beneficial owners of, and has good and marketable title
to, Shareholder’s Original Shares, free and clear of any Liens.  Other than as set forth on Schedule A hereto, Shareholder does not own
(of record or beneficially) any shares of capital stock of the Company or any
options, warrants, rights or other similar instruments to acquire any capital
stock or other voting securities of the Company.  Shareholder has the sole right to vote and
Transfer (as defined in Section 3(c)) Shareholder’s Original Shares, and
none of such Original Shares is subject to any voting trust or other agreement,
arrangement or restriction with respect to the voting or the Transfer of such
Original Shares that would in any way limit the ability of Shareholder to
perform his obligations under this Agreement.

2.             Representations and Warranties
of Parent.  Parent hereby represents
and warrants to Shareholder as follows: Parent has the requisite corporate
power and authority to execute and deliver this Agreement, to consummate the
transactions contemplated by this Agreement and to comply with the provisions
of this Agreement.  The execution and
delivery of this Agreement by Parent, the consummation by Parent of the
transactions contemplated by this Agreement and the compliance by Parent with
the provisions of this Agreement have been duly authorized by all necessary
corporate action on the part of Parent and no other corporate proceedings on
the part of Parent are necessary to authorize this Agreement or to consummate
the transactions contemplated by this Agreement.  This Agreement has been duly executed and
delivered by Parent and, assuming the execution and delivery by Shareholder,
constitutes a valid and binding obligation of Parent, enforceable against
Parent in accordance with its terms, subject to bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium and similar Laws of general
applicability relating to or affecting creditors’ rights and to general equity
principles.  The execution and delivery of
this Agreement and the consummation of the transactions contemplated by this
Agreement and compliance by Parent with the provisions of this Agreement do not
and will not conflict with, or result in any violation or breach of, or default
(with or without notice or lapse of time, or both) under, or give rise to a
right of, or result in, termination, cancellation or acceleration of any
obligation or to loss of a material benefit under,

 2
 

or result in the
creation of any Lien in or upon any of the properties or assets of Parent
under, or give rise to any increased, additional, accelerated or guaranteed
rights or entitlements under, any provision of (i) the Articles of
Incorporation or Bylaws of Parent, (ii) any Contract to which Parent is a party
or any of its properties or assets is subject or (iii) subject to the
governmental filings and other matters referred to in the following sentence,
any (A) statute, law, ordinance, rule or regulation or (B) any judgment, order
or decree, in each case, applicable to Parent or its properties or assets,
other than, in the case of clauses (ii) and (iii), any such conflicts,
violations, breaches, defaults, rights, losses, Liens or entitlements that
individually or in the aggregate would not reasonably be expected to impair in
any material respect the ability of Parent to perform its obligations under
this Agreement or prevent or materially impede, interfere with, hinder or delay
the consummation of any of the transactions contemplated by this Agreement.  No consent, approval, order or authorization
of, or registration, declaration or filing with, any Governmental Entity is
required by or with respect to Parent in connection with the execution and
delivery of this Agreement by Parent, the consummation by Parent of the transactions
contemplated by this Agreement or the compliance by Parent with the provisions
of this Agreement, except for (1) filings under the HSR Act and any other
applicable competition, merger control, antitrust or similar law, (2) filings
with the SEC of such reports under the Exchange Act as may be required in
connection with this Agreement and the transactions contemplated hereby and (3)
such other consents, approvals, orders, authorizations, registrations,
declarations and filings the failure of which to be obtained or made
individually or in the aggregate would not reasonably be expected to impair in
any material respect the ability of Parent to perform its obligations under
this Agreement or prevent or materially impede, interfere with, hinder or delay
the consummation of any of the transactions contemplated by this Agreement.

3.             Covenants of Shareholder.  Shareholder agrees as follows:

(a)           At any meeting of the shareholders of
the Company called to vote upon the Merger Agreement, the Merger or any of the
other transactions contemplated by the Merger Agreement, or at any adjournment
thereof, or in any other circumstances upon which a vote, consent, adoption or
other approval (including by written consent solicitation) with respect to the
Merger Agreement, the Merger or any of the other transactions contemplated by
the Merger Agreement is sought, Shareholder shall vote (or cause to be voted)
all the Subject Shares of Shareholder (owned of record or beneficially) in
favor of, and shall consent to (or cause to be consented to), (i) the approval
of the Merger Agreement, the Merger and each of the other transactions
contemplated by the Merger Agreement and (ii) any other matter intended to
facilitate the consummation of the transactions contemplated by the Merger Agreement.

(b)           At any meeting of the shareholders of
the Company or at any adjournment thereof or in any other circumstances upon
which a vote, consent, adoption or other approval (including by written consent
solicitation) is sought, Shareholder shall vote (or cause to be voted) all the
Subject Shares of Shareholder (owned of record or beneficially) against, and
shall not consent to (and shall cause not to be consented to), any of the
following (or any agreement to enter into, effect, facilitate or support any of
the following): (i) any merger agreement, merger or other Acquisition Proposal
(other than the Merger Agreement and the Merger), or (ii) any amendment of the
Company’s Articles of Incorporation or Bylaws or other proposal, action or
transaction involving the Company or any of its Subsidiaries or any of its
shareholders, which

 3
 

 

amendment or other
proposal, action or transaction would reasonably be expected to prevent or
impede or delay the consummation of the Merger or the other transactions
contemplated by the Merger Agreement or the consummation of the transactions
contemplated by this Agreement (collectively, “Frustrating Transactions”)
or that would otherwise facilitate a Frustrating Transaction.

(c)           Shareholder shall not (i) transfer,
pledge, assign, tender or otherwise dispose of (including by gift)
(collectively, “Transfer”), or consent to or permit any Transfer of, any
Subject Shares or any interest therein, or enter into any Contract, option or
other arrangement with respect to the Transfer (including any profit sharing or
other derivative arrangement) of any Subject Shares or any interest therein, to
any Person other than pursuant to this Agreement or the Merger Agreement,
unless prior to any such Transfer the transferee of such Subject Shares enters
into a shareholder agreement with Parent on terms substantially identical to
the terms of this Agreement or (ii) enter into any voting arrangement, whether
by proxy, voting agreement or otherwise, in connection with, directly or
indirectly, any Acquisition Proposal or Frustrating Transaction with respect to
any Subject Shares, other than pursuant to this Agreement.

(d)           Shareholder shall not, in his
capacity as an owner of the Subject Shares, directly or indirectly, issue any
press release or make any other public statement with respect to the Merger
Agreement, this Agreement, the Merger or any of the other transactions
contemplated by the Merger Agreement or any of the transactions contemplated by
this Agreement without the prior written consent of Parent, except as may be
required by applicable law.

(e)           Shareholder hereby waives, and agrees
not to exercise or assert, any dissenters’ or similar rights under Section
351.455 and Sections 351.870 et seq. of the
MGBCL or other applicable law in connection with the Merger.

4.  Grant of
Proxy; Appointment of Proxy.

(a)           Shareholder hereby grants to, and
appoints, Parent and Richard F. Smith, Lee Adrean and Kent E. Mast, in their
respective capacities as officers or authorized representatives of Parent, and
any individual who shall hereafter succeed to any such office of Parent, and
each of them individually, and any individual designated in writing by any of
them as Shareholder’s proxy and attorney-in-fact (with full power of
substitution), for and in the name, place and stead of Shareholder and solely
in the event of the absence of Shareholder at the meeting of the shareholders
of the Company in which such vote is taken, to vote all of Shareholder’s
Subject Shares (owned of record or beneficially), or grant a consent or
approval in respect of such Subject Shares, (i) in favor of the approval of the
Merger Agreement and the approval of the terms thereof and of the Merger and
each of the other transactions contemplated by the Merger Agreement, (ii)
against any Acquisition Proposal or any Frustrating Transaction and (iii)
otherwise in accordance with Section 3 of this Agreement.  Except upon the termination of this Agreement
in accordance with its terms, in which case the proxy granted in this Section
4 shall expire and be terminated and of no further force and effect, the
proxy granted pursuant to this Section 4(a) shall be irrevocable.  Shareholder understands and acknowledges that
Parent is entering into the Merger Agreement in reliance upon Shareholder’s
execution and delivery of this Agreement.

 4
 

(b)           Except for the proxy granted pursuant
to Section 4(a), Shareholder represents that any proxies heretofore
given in respect of Shareholder’s Subject Shares are not irrevocable, and that
all such proxies are hereby revoked.

(c)           Shareholder hereby affirms that the
proxy set forth in this Section 4 is given in connection with the
execution of the Merger Agreement, and that such proxy is given to secure the
performance of the duties of Shareholder under this Agreement. Shareholder
hereby further affirms that the proxy is coupled with an interest and may under
no circumstances be revoked except as otherwise set forth herein.  Shareholder hereby ratifies and confirms all
that such proxy may lawfully do or cause to be done by virtue hereof. Such
proxy is executed and intended to be irrevocable in accordance with the
provisions of Section 351.245(4) of the MGBCL, except as otherwise set forth
herein.

5.             Further Assurances.  Shareholder shall use his reasonable best
efforts to take, or cause to be taken, all actions, and to do, or cause to be
done, and to assist and cooperate with the other parties in doing, all things
reasonably necessary, proper or advisable to consummate and make effective the
transactions contemplated by this Agreement and the Merger Agreement.  Shareholder hereby agrees that any approval
required by Shareholder pursuant to Section 6.10(a) of the Merger Agreement
shall not be unreasonably withheld or delayed.

6.             Binding
Agreement.  Shareholder agrees that
this Agreement and the obligations hereunder shall attach to Shareholder’s
Subject Shares and shall be binding upon any Person to which legal or
beneficial ownership of such Subject Shares shall pass, whether by operation of
law or otherwise, including Shareholder’s heirs, guardians, administrators, or
permitted successors or assigns, and Shareholder further agrees to take all
actions necessary to effectuate the foregoing. In the event of any stock split,
stock dividend, reclassification, merger, reorganization, recapitalization or
other change in the capital structure of the Company affecting the capital
stock of the Company, the number of Subject Shares listed on Schedule A hereto shall be adjusted
appropriately.

7.             Assignment.  Neither this Agreement nor any of the rights,
interests or obligations under this Agreement shall be assigned, in whole or in
part, by operation of law or otherwise, by either Shareholder or Parent without
the prior written consent of the other of such parties.  Any purported assignment in violation of this
Section 7 shall be void.  Subject
to the preceding sentences of this Section 7, this Agreement shall be
binding upon, inure to the benefit of and be enforceable by, the parties hereto
and their respective permitted successors and assigns.

8.             Termination.  This Agreement shall terminate upon the
earlier of (i) the Effective Time and (ii) the termination of the Merger
Agreement in accordance with its terms.  
Nothing in this Section 8 shall relieve or otherwise limit the
liability of any party for breach of this Agreement.

9.             General
Provisions.

(a)           Amendments.  This Agreement is between Shareholder and
Parent and may not be amended except by an instrument in writing signed by
Parent and Shareholder.

 5
 

(b)           Notice.  All notices, requests, demands and other
communications under this Agreement shall be in writing and shall be deemed
given if delivered personally, telecopied (with confirmation) or sent by
overnight or same-day courier (providing proof of delivery) to Parent in
accordance with Section 9.6 of the Merger Agreement and to Shareholder at his
address set forth on Schedule A
hereto (or at such other address for a party as shall be specified by like
notice).

(c)           Interpretation.  When a reference is made in this Agreement to
a Section or a Schedule, such reference shall be to a Section of, or a Schedule
to, this Agreement unless otherwise indicated. 
The headings contained in this Agreement are for reference purposes only
and shall not affect in any way the meaning or interpretation of this
Agreement.  Whenever the words “include,”
“includes” or “including” are used in this Agreement, they shall be deemed to
be followed by the words “without limitation.” 
The words “hereof,” “herein” and “hereunder” and words of similar import
when used in this Agreement shall refer to this Agreement as a whole and not to
any particular provision of this Agreement. 
The term “or” is not exclusive. 
The definitions contained in this Agreement are applicable to the
singular as well as the plural forms of such terms.  Any agreement or instrument defined or
referred to herein or in any agreement or instrument that is referred to herein
means such agreement or instrument as from time to time amended, modified or
supplemented.  References to a Person are
also to its permitted successors and assigns.

(d)           Counterparts; Effectiveness.  This Agreement may be executed in one or more
counterparts (including by facsimile), all of which shall be considered one and
the same agreement.  This Agreement shall
become effective by Shareholder against Parent when one or more counterparts
have been signed by Parent and delivered to Shareholder.  This Agreement shall become effective against
Shareholder when one or more counterparts have been executed by Shareholder and
delivered to Parent.  Each party need not
sign the same counterpart.  The
effectiveness of this Agreement shall be conditioned upon the execution and
delivery of the Merger Agreement by Parent.

(e)           Entire Agreement; No Third-Party
Beneficiaries.  This Agreement
(including the documents and instruments referred to herein) (i) constitutes
the entire agreement and supersedes all prior agreements and understandings,
both written and oral, among the parties hereto with respect to the subject
matter of this Agreement and (ii) is not intended to confer upon any Person
other than the parties hereto (and the persons specified as proxies in Section
4) any rights or remedies.

(f)            Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF MISSOURI, WITHOUT REGARD
TO ANY PRINCIPLES OF CONFLICTS OF LAWS OF SUCH STATE.

(g)           Severability.  If any term or other provision of this
Agreement is invalid, illegal or incapable of being enforced by any rule of law
or public policy, all other conditions and provisions of this Agreement shall
nevertheless remain in full force and effect. 
Upon such determination that any term or other provision is invalid,
illegal or incapable of being enforced, the parties hereto shall negotiate in
good faith to modify this Agreement so as to effect the original intent of the
parties as closely as possible to the fullest extent permitted by applicable

 6
 

 

law in an
acceptable manner and to the end that the transactions contemplated hereby are
fulfilled to the extent possible.

(h)           Voidability.  If prior to the execution hereof, the Board
of Directors of the Company shall not have duly and validly authorized and
approved by all necessary corporate action, this Agreement, the Merger
Agreement and the transactions contemplated hereby and thereby, so that by the
execution and delivery hereof Parent or Merger Sub would become, or could
reasonably be expected to become an “interested shareholder” with whom the
Company would be prevented for any period pursuant to Section 351.459 of the
MGBCL from engaging in any “business combination” (as such terms are defined in
Section 351.459 of the MGBCL), then this Agreement shall be void and
unenforceable until such time as such authorization and approval shall have
been duly and validly obtained.

10.           Enforcement.  The parties agree that irreparable damage
would occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached.  It is accordingly agreed that the parties
shall be entitled to an injunction or injunctions to prevent breaches of this
Agreement and to enforce specifically the terms and provisions of this
Agreement in any court of the United States located in the State of Missouri or
in any Missouri
state court (or, solely in the event of a pending matter involving
Parent and the Company in the State of New York, in the State of New York or in
any New York state court), this being in addition to any other remedy to which
they are entitled at law or in equity. 
In addition, each of the parties hereto (a) consents to submit itself to
the personal jurisdiction of any court of the United States located in the
State of Missouri
(or, solely in the event of a pending matter involving Parent and the
Company, in the State of New York) or of any Missouri state court (or, solely in the
event of a pending matter involving Parent and the Company in New York state
court, in such New York state court) in the event any dispute arises out of
this Agreement or the transactions contemplated by this Agreement, (b) agrees
that it will not attempt to deny or defeat such personal jurisdiction by motion
or other request for leave from any such court, and (c) agrees that it will not
bring any action relating to this Agreement or the transactions contemplated by
this Agreement in any court other than a court of the United States located in
the State of Missouri or a Missouri state court (or, solely in the event of a pending matter
involving Parent and the Company in the State of New York, in the State of New
York or a New York state court).

11.           Fiduciary Duties.  Shareholder is signing this Agreement solely
in his capacity as an owner of his Subject Shares.  Nothing herein shall (a) prohibit, prevent or
preclude Shareholder from taking or not taking any action in his capacity as an
officer or director of the Company or (b) permit Shareholder, in his capacity
as an officer or director, to take any action which is prohibited by the Merger
Agreement.

[Remainder
of page intentionally left blank; 
signature page attached.]

 7

 

IN WITNESS WHEREOF, Parent has caused this
Agreement to be signed by its officer thereunto duly authorized and Shareholder
has signed this Agreement, all as of the date first written above.

	
  

  	
  EQUIFAX INC

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard F. Smith

  
	
   

  	
   

  	
  Name: 

  	
  Richard F. Smith

  
	
   

  	
   

  	
  Title:

  	
  Chairman and Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  /s/ William Canfield

  
	
   

  	
   

  	
   

  	
  WILLIAM CANFIELD

  

Schedule
A

Number
of Subject Shares Owned of Record or Beneficially by William W. Canfield c/o
TALX Corporation, 11432 Lackland Avenue, St. Louis, Missouri  63146, Fax: 
(314) 214-7585)

	
   

  	
   

  	
   

  	
   

  	
  Stock Options as of 2/12/07

  	
   

  	
   

  	
   

  
	
  Direct Stock

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Ownership per

  	
   

  	
  Indirect Stock

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Total

  	
   

  	
  Unvested

  	
   

  
	
  Most Recent Form 4

  	
   

  	
  Ownership per

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (Agreed to most

  	
   

  	
  Restricted

  	
   

  
	
  (includes Restricted)

  	
   

  	
  Most Recent Form 4

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  recent Form

  	
   

  	
  Stock as

  	
   

  
	
  dated 1.25.07

  	
   

  	
  per 2006 D&O Q’re

  	
   

  	
  Vested

  	
   

  	
  Unvested

  	
   

  	
  4 filing)

  	
   

  	
  of 2/12/07

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1,388,840

  	
   

  	
  24,502

  	
   

  	
  627,119

  	
   

  	
  56,247

  	
   

  	
  683,366

  	
   

  	
  52,050

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