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OFFER OF EMPLOYMENT

Executive Employment Agreement

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APAC CUSTOMER SERVICE INC | Pamela Schneider

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Title: OFFER OF EMPLOYMENT
Date: 8/10/2005
Industry: SVSBUS     Sector: SERVIC

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Exhibit 10

Exhibit 10.1

 

PERSONAL AND CONFIDENTIAL

 

Pamela Schneider

 

 

June 1, 2005

25089 N. Pawnee Road

 

 

Barrington, IL 60010

 

 

 

Dear Pam:

 

I am pleased to present this offer of employment to join APAC Customer Service, Inc. (“APAC” or the “Company”) as Senior Vice President, General Counsel and Secretary, reporting to me.  The following terms will apply:

 

1.             Your start date will be June 13, 2005.

 

2.             Your starting base salary will be $260,000, on an annualized basis payable bi-weekly. This “base salary” is stated for convenience only and is not intended as an annual contract of employment.  Your base salary will be reviewed each year at the time when increases for executives of APAC are considered.  At the present time that occurs on or about April 1 of each year.

 

3.             You will be a participant in APAC’s Management Incentive Compensation Plan (“MIP”) as it exists from year to year.  We envision an opportunity of 10%-40%-80% for threshold-target-maximum performance, respectively.  The payout of MIP will depend on APAC’s meeting its budgeted financial performance and your meeting your individual and team performance goals that will be established each year between you and the executive to whom you report.

 

4.             You will be entitled to paid vacation of four (4) weeks and will also be entitled to participate in all employee benefit plans and programs extended to employees at the executive level (Benefits Summary enclosed).

 

5.             Subject to the approval of the Compensation Committee, you will be granted options to purchase 300,000 shares of APAC stock at an exercise price equal to the mean between the high and low prices at which APAC’s common stock trades on the day established by the Compensation Committee, as reported by Bloomberg Financial Markets.  The option grant date will be the later of your first date of employment and the date on which the Compensation Committee approves the grant. These options will vest at the rate of 20% per year during the first five years of your employment.

 

6.             Upon joining the Company, you will receive an Emp

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