SITEL Corporation Termination of Contributions to Executive Wealth Accumulation Plan
SITEL Corporation has announced that, effective December 31, 2004, it will stop making contributions to its Executive Wealth Accumulation Plan. However, the existing Deferred Benefit Accounts for all participants will remain in place and continue to be managed according to the original plan terms. This action does not affect the current balances, only future contributions.
Exhibit 10.5(c)
SITEL Corporation
FREEZING OF EXECUTIVE WEALTH ACCUMULATION PLAN
SITEL Corporation, a Minnesota corporation, hereby terminates all contributions to the SITEL Corporation Executive Wealth Accumulation Plan (the “Plan”), on and after December 31, 2004. Notwithstanding the termination of contributions to the Plan, the current Deferred Benefit Accounts of all Participants shall continue to be held and administered in accordance with the Plan. Capitalized terms used in this document shall have the same meaning as set forth in the Plan.
IN WITNESS WHEREOF, this document is executed on behalf of SITEL Corporation this 10th day of December, 2004.
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| SITEL CORPORATION | |||
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| By: | /s/ James F. Lynch |
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| James F. Lynch, CEO | ||
