ICT Group 8-K 2009
Documents found in this filing:
AMENDMENT TO EMPLOYMENT AGREEMENT
This AMENDMENT TO EMPLOYMENT AGREEMENT (this Amendment) is made and entered into as of November 5, 2009 between ICT Group, Inc., a Pennsylvania corporation (the Company), and the undersigned employee (Employee) of the Company.
WHEREAS, the Company and the Employee are party to that certain Amended and Restated Employment Agreement dated October 27, 2008 (as amended prior to the date hereof, the Employment Agreement) (capitalized terms used but not defined herein shall have the meanings ascribed thereto in the Employment Agreement);
WHEREAS, Sykes Enterprises, Incorporated, a Florida corporation (Parent) and the Company have entered into an Agreement and Plan of Merger dated October 5, 2009 which contemplates the acquisition of the Company by Parent and its affiliates (the Merger);
WHEREAS, the Company desires to ensure that management employee severance provisions for Company employees in connection with the Merger are appropriate, and wishes to provide incremental change-in-control severance for the Employee equal to three months of the Employees base salary;
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby amend the Employment Agreement as follows:
In addition, Company shall maintain Employee in its group health plan on the same basis as if Employee had remained employed by Company for a period equal in length to 1.33 times the Severance Period following Employees termination of employment with Company, or until Employee becomes covered under another group health plan, whichever occurs first; provided, that in order to receive such coverage, Employee shall be required to pay to Company at the same time that premium payments are due for the month an amount equal to the full monthly premium payments required for such coverage and Company shall reimburse to Employee the Health Payment no later than the next payroll date of Company that occurs after the date the premium for the month is paid by Employee.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date first above written.