Revised Payment Terms Agreement between Sprint/United Management Company and StarTek, Inc. (April 2016)

Contract Categories: Business Operations › Services Agreements
Summary

Sprint/United Management Company and StarTek, Inc. have agreed to revised payment terms for services provided. From June 1 to August 30, 2016, Sprint will pay undisputed invoices within a specified period after receipt. From September 1, 2016 onward, a new payment period applies, with the possibility of further negotiation if Sprint agrees to certain business terms. If there are significant changes to StarTek’s receivables factoring, and no resolution is reached within 90 days, payment terms will revert to a prior arrangement. Payments will be made via ACH unless otherwise arranged.

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EX-10.2 2 srt-ex102_2016630x10q.htm EXHIBIT 10.2 Exhibit
 
 
CONFIDENTIAL TREATMENT REQUESTED
[*] Indicates confidential portions omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission.

Revised Payment Terms
Effective June 1, 2016, all orders with Sprint are subject to the terms below:
•
Effective June 1, 2016 through August 30, 2016 Sprint will pay undisputed amounts for services performed during that period within [*] ([*]) days of receipt of Supplier’s invoice.
•
From September 1, 2016 and going forward Sprint will pay undisputed amounts for services performed within [*] ([*]) days of receipt of Supplier’s invoice.
The parties will endeavor to reach [*] ([*]) days terms, provided Sprint can commit to mutually agreeable business terms (eg, increased rates, increased fees, and/or additional seats).
If there are any major changes to Suppliers receivables factoring setup, Supplier will notify Sprint and if within 90 days the parties have not reached a mutually acceptable resolution, the payment terms will revert to a [*] term.
All payments made to Supplier will be via ACH unless Supplier makes a different arrangement with Sprint.
Signed:
Sprint / United Management Company        StarTek, Inc.


/s/ Teri L. Craner-Hallahan        /s/ Chad A. Carlson    
Signature of Authorized Representative        Signature of Authorized Representative


Teri L. Craner-Hallahan        Chad Carlson    
Printed Name        Printed Name


Sourcing Manager        President & CEO    
Title        Title


April 20, 2016        April 22, 2016    
Date        Date