SITEL Corporation Termination of Executive Wealth Accumulation Plan Agreement
SITEL Corporation has decided to end its Executive Wealth Accumulation Plan, effective January 1, 2005. All participants in the plan will receive the full balance of their deferred benefit accounts in a single payment by June 30, 2005. The agreement is signed by the company's CEO, James F. Lynch, and outlines the process for distributing the remaining plan benefits to participants.
Exhibit 10.5(d)
SITEL Corporation
TERMINATION OF EXECUTIVE WEALTH ACCUMULATION PLAN
SITEL Corporation, a Minnesota corporation, hereby terminates the SITEL Corporation Executive Wealth Accumulation Plan (the “Plan”), effective as of January 1, 2005. All Participants in the Plan shall be paid the balance in their Deferred Benefit Accounts in accordance with the following payment schedule: Balances to be paid in a single installment on or before June 30, 2005.
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 1st day of January, 2005.
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| SITEL CORPORATION | ||
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| By: | /s/ James F. Lynch |
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| James F. Lynch, CEO | |
