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Employment Agreement

 

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Title:

Employment Agreement

Entities:

ICT Group, Inc.

Date:

2002

Size:

Preview shows 5KB of 29KB total

Price:

$43

ID:

#981120

 

 


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<SEQUENCE>6

<FILENAME>ex10_24.txt
<DESCRIPTION>EXHIBIT 10.24
<TEXT>
<PAGE>

EMPLOYMENT AGREEMENT
--------------------


THIS AGREEMENT, made as of June 18, 2001 by and between ICT GROUP,
INC., a Pennsylvania corporation (hereinafter called "Company"), and Robert
Mannarino an individual (hereinafter called "Employee").

WITNESSETH
----------

Company wishes to employ Employee and Employee wishes to enter into the
employ of Company on the terms and conditions contained in this Agreement.

NOW, THEREFORE, in consideration of the facts, mutual promises and
covenants contained herein and intending to be legally bound hereby, Company and
Employee agree as follows:

1. Employment. Company hereby employs Employee as President and Chief
Operating Officer and Employee hereby accepts employment by Company
for the period of time and upon the terms, conditions and
restrictions contained in this Agreement.

2. Duties and Responsibilities.

(a) Employee agrees to assume such duties and responsibilities
normally associated with the position indicated above, and as
may be assigned to Employee by the Chief Executive Officer of
the Company from time to time. Employee shall perform any other
duties reasonably required by Company.

(b) Throughout the term of this Agreement, Employee shall devote his
entire working time, energy, skill and best efforts to the
performance of his duties hereunder in a manner which will
faithfully and diligently further the business and interest of
Company. During the term of this Agreement, Employee may not,
directly or indirectly, do any work for any other company.
<PAGE>

3. Term. This Agreement shall be for a term of one (1) year, commencing
on June 18, 2001 and ending on June 17, 2002 unless sooner terminated as
hereinafter provided. Unless either party elects to terminate this Agreement at
the end of the original or any renewal term by giving the other party written
notice of such election at least ninety (90) days before the expiration of the
then current term, this Agreement shall be deemed to have been renewed for an
additional term of one (1) year commencing on the day after the expiration of
the current term, unless sooner terminated as hereinafter provided.

4. Compensation.

(a) For all of the service rendered by Employee to Company, Employee
shall receive a gross annual salary of $364,000, less taxes and
other deductions required by law, payable in reasonable periodic
installments in accordance with Company's regular payroll
practices in effect from time to time. Employee's base salary
shall be reviewed by Company's Board of Directors annually and
may be increased by the Board of Directors in its sole
discretion. Employee's base salary, however, may be decreased by
the Board of Directors in the event of a salary reduction that
is generally applicable to the other members of the Company's
senior management.

(b) In addition to Employee's base salary, Company will provide all
benefits as described in the offer letter dated May 25, 2001,
which is incorporated herein and made a part hereof. Employee
shall have the right to participate in the quarterly management
incentive plan and the annual executive management incentive
plan on the terms as described in such offer letter and in the
Company documents describing the terms of such plans. Employee
shall also be able to participate in the ICT Group, Inc. 1996
Equity Compensation Plan and the iCT ConnectedTouch.com LLC 2000
Equity Compensation Plan, and any other management incentive
plans established by the Company, on terms at least as favorable

 

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