Exhibit 10.27
Amendment to Employment Agreement
This Amendment is entered into as of October 1, 2002 by and between ICT Group,
Inc, a Pennsylvania corporation (hereinafter called "Company") and Xxxxxxx
Xxxxxxxxxxxxx an individual (hereinafter called "Employee").
Whereas, Company and Employee have entered into that certain employment
agreement dated August 24, 1998, as amended on January 2, 2002 (hereinafter the
"Employment Agreement"); and
Whereas, in consideration of the continued employment of Employee, and deeming
it to be in Company's best interest, Company and Employee now wish to amend a
certain provision of the Employment Agreement.
Now, therefore in consideration of the covenants and promise contained herein,
and intending to be legally bound hereby, Company and Employee hereby agree as
follows:
1. Section 6 (a), Post-Termination Payments: Section 6 (a) of the
Employment Agreement is hereby amended by deleting Section 6 (a) in
its entirety and replacing it with a new Section 6 (a) to read as
follows: "(a) If Employee is terminated by Company pursuant to
Paragraph 10 hereof, Company shall pay to Employee a monthly severance
payment in an amount equal to Employee's monthly salary at the time of
termination for either (i) twelve (12) months if Employee has less
than ten (10) years of uninterrupted service with Company as of the
effective date of employment termination or (ii) eighteen months if
Employee has ten (10) years or more of uninterrupted service with
Company as of the effective date of employment termination (the
applicable period hereinafter the called the "Severance Period")
provided that Employee executes at the time of Employee's termination
of employment a General Release satisfactory to Company of any and all
claims which Employee may have arising out of or relating to
Employee's employment with and/or termination of employment with
Company. In addition, if Employee is terminated for any reason other
than for Cause under Paragraph 9 or for an Inability under Paragraph 7
which is other than a disability, Company shall maintain Employee it
its group health plan on the same basis as if Employee had remained
employed by Company during the Severance Period, for the duration of
the Severance Period or until Employee becomes covered under another
group health plan, whichever occurs first."
2. Xxxxxxx 00, Xxxxxxxxxxx Xxxxxxxxx, Trade Secrets, Etc. Section 13 of
the Employment Agreement is hereby amended by inserting, immediately
after the phrase "For a period of one (1) year" in the first sentence
thereof, the following language: "(or for a period of 18 months if the
Employee is entitled to 18 months of severance payments pursuant to
Section 6 (a) of this Agreement)".
3. Effective Date: The change to the Employment Agreement set forth in
this Amendment shall become effective on October 1, 2002.
4. No Other Changes: Except as set forth herein, the Employment Agreement
shall remain unchanged and in full force and effect.
In Witness Whereof, the parties hereto have executed this Amendment as of the
date and year first above written.
ICT Group, Inc. EMPLOYEE
By: ___________________________ Signature:_________________
Name:__________________________ Name:______________________
Title: Chief Executive Officer
