Exhibit 10.29
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 Xxxxxx Xxxxx,
an individual (hereinafter called "Employee").
Whereas, Company and Employee have entered into that certain employment
agreement dated September 11, 2000, 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, as amended previously, 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 (18) months if Employee has ten (10) years or more of
uninterrupted service with Company as of the effective date of
employment termination, 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."
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
