OFFER OF EMPLOYMENTExecutive Employment Agreement |
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APAC CUSTOMER SERVICE INC | Pamela Schneider. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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Search Executive Employment Agreement by:
Exhibit 10.1
PERSONAL AND CONFIDENTIAL
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Pamela Schneider |
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June 1, 2005 |
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25089 N. Pawnee Road |
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Barrington, IL 60010 |
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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






