Document:

Exhibit 10.1

SITEL
CORPORATION

Summary of Compensation Arrangements

for Non-Employee Directors

(as of August 7,
2006)

·                  $30,000
annual retainer payable in quarterly installments beginning at annual
shareholders meeting

·                  $1,500
per meeting attended (regular, special, committee)

·                  $15,000
additional annual retainer for a non-employee Chairman of the Board payable in
quarterly installments beginning at annual shareholders meeting

·                  $30,000
additional annual retainer for the Audit Committee chair, $10,000 additional
annual retainer for the Compensation Committee chair and $10,000 additional
annual retainer for the Nominating/Corporate Governance Committee chair,
payable in quarterly installments beginning at annual shareholders meeting

·                  $30,000
additional annual retainer for the Special Committee chair, with a payment as
of August 7, 2006 for the period from January 1, 2006 through the end of the
current quarterly retainer period and thereafter payable in quarterly
installments at the same time as the other Board/standing committee retainers,
so long as such Special Committee has continuing responsibilities assigned by
the Board

·                  20,000
options granted initially to a new director at time of election or appointment,
and 10,000 options granted annually to existing directors at time of annual
shareholders meeting

·                  At
least 50% of the retainer compensation will be paid in SITEL common stock

·                  Directors
may elect to have up to 100% of their monetary compensation paid in SITEL
common stock

·                  Directors
may defer their compensation by an annual election pursuant to the 2001
Nonemployee Directors Compensation Plan. 
Deferred compensation is payable in the company’s common stock in a lump
sum following the termination of the director’s service on the Board or as
designated in the director’s deferral election (subject to any provisions in
the 2001 Nonemployee Directors Compensation Plan)

·                  Directors
will also be reimbursed their reasonable expenses of attending meetingsExhibit
10.1

SECOND
AMENDMENT TO CONSULTING SERVICES AGREEMENT

THIS
SECOND AMENDMENT TO CONSULTING SERVICES AGREEMENT (this “Second Amendment”) is
made and entered into this 11th day of September,
2006, and effective as of October 1, 2006, by and between Helmerich &
Payne, Inc. (“H&P”) and Walter H. Helmerich, III (“WHH”).

WHEREAS,
H&P and WHH entered into a Consulting Services Agreement (the “Agreement”)
on March 30, 1990, as subsequently amended by that certain Amendment to
Consulting Services Agreement dated December 26, 1990; and

WHEREAS,
H&P and WHH desire to further amend the Agreement as hereafter set forth;

NOW,
THEREFORE, in consideration of the premises and other good and valuable
consideration, the receipt of which is acknowledged, the parties hereto amend
the Agreement as follows:

 Clause (i) of Paragraph 2 of the Agreement is
hereby amended to increase WHH’s pay to the annual sum of One Hundred Seventy
Thousand Three Hundred Dollars ($170,300), payable in monthly installments of
Fourteen Thousand One Hundred Ninety One and 67/100 Dollars ($14,191.67) on the
first day of each month.

Except
as amended hereby, all terms, conditions, and provisions of the Agreement, as
previously amended, shall remain valid and binding.

 

 

IN
WITNESS WHEREOF, the parties hereto have executed this Second Amendment in
duplicate on the date first written above.

	
   

  	
  “H&P”

  
	
   

  	
   

  
	
   

  	
  Helmerich & Payne, Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven R. Mackey

  
	
   

  	
  Name: 

  	
  Steven R. Mackey

  
	
   

  	
  Title: 

  	
  Vice President

  
	
   

  	
   

  
	
   

  	
  “WHH”

  
	
   

  	
   

  
	
   

  	
  /s/ Walter H. Helmerich, III

  
	
   

  	
  Walter H. Helmerich, III

  

 

 2Exhibit 10.1

EXECUTION COPY

STOCK REPURCHASE AGREEMENT

THIS STOCK REPURCHASE AGREEMENT (this “Agreement”)
is made as of September 13, 2006, between TESSCO Technologies Incorporated, a Delaware
corporation (the “Buyer”), and Advisory Research Microcap Value Fund, L.P., an
Illinois limited partnership (the “Seller”).

WHEREAS, the Seller is the record and beneficial
holder of 629,575 shares of common stock, par value $0.01 per share (“Common
Stock”), of the Buyer (the “Shares”); and

WHEREAS, the Buyer desires to purchase the Shares
from the Seller and the Seller desires to sell the Shares to the Buyer;

NOW, THEREFORE, in consideration of the foregoing
and the mutual agreements set forth herein, the Buyer and the Seller hereby
agree as follows:

ARTICLE I

PURCHASE AND SALE OF SHARES;
CONSIDERATION

1.1.          Purchase
and Sale of Shares.

(a)           Upon the terms and
subject to the conditions of this Agreement, on the Closing Date the Seller
shall sell, transfer, assign, convey and deliver to the Buyer, and the Buyer
shall purchase from the Seller, the Shares, free and clear of all Encumbrances.

(b)           For purposes of this
Agreement, “Encumbrances” shall mean all liens, claims, charges, assessments,
options, security interests and other legal and equitable encumbrances.

1.2.          Consideration.   In consideration for the Shares, the Buyer
will pay to the Seller $15,739,375.

ARTICLE II

CLOSING

2.1.          Closing
Date.  The purchase and sale of the
Shares (the “Closing”) shall take place on September 13, 2006 at the offices of
the Buyer at 11126 McCormick Road, Hunt Valley, Maryland 21031-1494 or at such
other location or locations as the Buyer and the Seller may agree.  The time and date on which the Closing is
actually held is referred to herein as the “Closing Date.”

2.2.          Delivery
of Shares and Consideration.  At the
Closing, the Seller agrees that it shall take all necessary actions and make
all necessary arrangements to transfer the Shares to the Company directly, or
to or through a designated agent of the Company, so that the transfer of the
Shares to the Company is properly reflected on the books and records of the
Company.  At the Closing, the Buyer shall
pay to the Seller the cash amount set forth in Section 1.2, by wire
transfer of immediately available funds to an account designated by Seller.

 

ARTICLE III

REPRESENTATIONS, WARRANTIES AND
AGREEMENTS OF THE PARTIES

3.1.          Representations,
Warranties and Agreements of the Seller.

(a)  Authority
of Seller.  The Seller has the
requisite limited partnership power and authority to execute, deliver and
perform this Agreement.  This Agreement
has been duly authorized, executed and delivered by Seller and is the legal,
valid and binding obligation of the Seller enforceable in accordance with its
terms.

(b)  No
Conflict.  Neither the execution and
delivery of this Agreement or the consummation of any of the transactions
contemplated hereby nor compliance with or fulfillment of the terms, conditions
and provisions hereof will conflict with, result in a breach of the terms,
conditions or provisions of, or constitute a default, an event of default or an
event creating rights of acceleration, termination or cancellation or a loss of
rights under, or result in the creation or imposition of any Encumbrance upon
any of the Shares, under (A) the certificate of limited partnership or limited
partnership agreement of the Seller, (B) any material note, instrument,
agreement, mortgage, lease, license, franchise, permit or other authorization,
right, restriction or obligation to which the Seller is a party or the Shares
are subject or by which the Seller is bound, (C) any court order to which the
Seller is a party or any of the Shares are subject or by which the Seller is
bound, or (D) any requirements of laws, rules or regulations affecting the
Seller or the Shares or otherwise applicable to the transactions contemplated
by this Agreement.

(c)  Title
to Shares.  The Seller represents and
warrants to the Buyer that the Seller is the sole record and beneficial owner
of the Shares, free and clear of all Encumbrances, and that the delivery and/or
release, as applicable, of the Shares to the Buyer pursuant to this Agreement
will transfer and convey good and valid title thereto to the Buyer, free and
clear of all Encumbrances.  The Seller
represents and warrants to the Buyer that the Shares constitute all of the
equity interests of the Buyer owned by the Seller.

(d)  Economic
Risk; Sophistication.  (i)  The Seller represents and warrants that it
has such knowledge and experience in financial and business matters that it is
capable of evaluating the merits and risks of the proposed sale of the Shares
to the Buyer and that it has made an independent decision to sell the Shares to
Buyer based on the Seller’s knowledge about the Buyer and its business and
other information available to the Seller, which it has determined is adequate
for that purpose.  The Seller represents
and warrants that it (A) has not relied on any information (in any form,
whether written or oral) furnished by Buyer or on behalf of the Buyer in making
that decision, or (B) requested any such information from the Buyer which the
Buyer has not furnished to the Seller.

(ii)  The
Seller represents, warrants, acknowledges and agrees that the Buyer and its
affiliates, officers and directors,  may
possess material non-public information not known to the Seller regarding or
relating to the Buyer, including, but not limited to, information concerning
the business, financial condition, results of operations, prospects or
restructuring plans of the Buyer, and the Seller represents, warrants,
acknowledges and agrees that the Seller has not requested any such information
and agrees that neither the Buyer nor its affiliates, officers or directors
shall have any liability whatsoever with respect to the nondisclosure of any
such information, whether before or after the date of this letter.

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(e)  Value
of the Shares.  The Seller
acknowledges and confirms that it is aware that (i) the Buyer has reported improvements
in its sales to commercial and government customers over the past nine quarters
and that the Seller achieved record operating profitability in the fiscal
quarter ended June 25, 2006, and (ii) the closing sale price of the Buyer’s
Common Stock has increased from $13.08 per share at September 30, 2005 to
$24.03 per share at September 8, 2006. The Seller further acknowledges and
confirms that it is aware that future changes and developments in (A) the Buyer’s
business and financial condition and operating results, (B) the industries in
which the Buyer competes and (C) overall market and economic conditions, may
continue to have a favorable impact on the value of the Common Stock after the
sale by the Seller of the Shares to the Buyer pursuant to this Agreement.

(f)  The Seller represents and warrants that they
are not relying on any representation or warranty by the Buyer in connection
with the transactions contemplated by this Agreement except as expressly set
forth in this Agreement.

3.2.          Representations,
Warranties and Agreements of the Buyer.

(a)  Authority of Buyer.  The Buyer has the requisite corporate power
and authority to execute, deliver and perform this Agreement.  This Agreement has been duly authorized,
executed and delivered by the Buyer and is the legal, valid and binding obligation
of the Buyer enforceable in accordance with its terms.

(b)  No Conflict.  Neither the execution and delivery of this
Agreement or the consummation of any of the transactions contemplated hereby
nor compliance with or fulfillment of the terms, conditions and provisions
hereof will conflict with, result in a breach of the terms, conditions or
provisions of, or constitute a default, an event of default or an event
creating rights of acceleration, termination or cancellation or a loss of
rights under (A) the certificate of incorporation or by-laws of the Buyer, (B)
any material note, instrument, agreement, mortgage, lease, license, franchise,
permit or other authorization, right, restriction or obligation to which the
Buyer is a party or by which the Buyer is bound, (C) any court order to which
the Buyer is a party or by which the Buyer is bound, or (D) any requirements of
laws, rules or regulations affecting the Buyer or otherwise applicable to the
transactions contemplated by this Agreement.

ARTICLE IV

MUTUAL RELEASES

4.1           Seller
Release.  The Seller, and anyone
claiming through it or on its behalf, as the case may be, agrees to irrevocably
and unconditionally release, waive and forever discharge the Buyer and its
respective Affiliates (as hereinafter defined), officers, directors, stockholders
and employees  and past,
present or future Affiliated Persons (as hereinafter defined) from, and
covenants not to sue the Buyer Released Parties (as hereinafter defined) with
respect to, any and all actions, causes of action, claims, demands, rights,
remedies, expenses and liabilities of whatever kind or character, at law or in
equity, whether now known or unknown, that such Seller now has, has ever had,
or may ever have against any of the Buyer Released Parties with respect to the
Buyer, arising from or related to the purchase by the Buyer of the Shares from
the Sellers as contemplated by this Agreement.

 3
 

 

4.2           Buyer
Release.  The Buyer, and anyone
claiming through it or on its behalf, as the case may be, agrees to irrevocably
and unconditionally release, waive and forever discharge the Seller and its
respective Affiliates, officers, directors, partners and employees  and past, present or future Affiliated
Persons from, and covenants not to sue the Seller Released Parties (as
hereinafter defined) with respect to, any and all actions, causes of action,
claims, demands, rights, remedies, expenses and liabilities of whatever kind or
character, at law or in equity, whether now known or unknown, that such Seller
now has, has ever had, or may ever have against any of the Seller Released
Parties with respect to the Seller, arising from or related to the sale by the
Seller of the Shares to the Buyer as contemplated by this Agreement.

4.3           Definitions.  As used in this Article IV, the terms
set forth below shall be defined as follows:

(a)           “Affiliates”
shall mean an entity or other business organization that directly or
indirectly, controls, is controlled by or is under common control with Buyer,
as the case may be.

(b)           “Affiliated
Persons” shall mean such entity’s directors, partners, members, officers,
managers, shareholders, principals, administrators, other management personnel,
employees or similar persons; provided, that “Affiliated Persons” shall only
include individuals and not legal entities.

(c)           “Buyer
Released Parties” shall mean the Buyer and its Affiliates and Affiliated
Persons.

(d)           “Seller
Released Parties” shall mean the Seller and its Affiliates and Affiliated
Persons.

ARTICLE V

MISCELLANEOUS

5.1.          Confidentiality.  The Seller agrees that he will treat in confidence
all documents, materials and other information which he shall
have obtained in regards to this Agreement and the transactions being effected
hereby (whether obtained before or after the date of this Agreement).  Except as required by law, the Seller agrees
that it shall not disclose the terms or the nature of this Agreement or the
transactions or consents being effected hereby. 
Seller acknowledges that Buyer may disclose the terms or nature of this
Agreement or the transaction or consents being effected hereby.

5.2           Successors
and Assigns.  This Agreement shall be
binding upon, and shall inure to the benefit of, the parties hereto, their
legal representatives, heirs, executors, administrators, successors, assigns
and transferees.

5.3.          Governing
Law.   This Agreement shall be
governed by and construed in accordance with the internal laws (as opposed to
the conflicts of law provisions) of the State of Delaware.

5.4.          Counterparts.  This Agreement may be executed in two
counterparts, each of which shall be deemed to be an original, but both of
which together shall constitute one and the same instrument; and shall become
binding when both counterparts have been signed by the parties hereto and
delivered to both of the parties hereto.

5.5.          Amendment.  This Agreement may not be amended, modified
or supplemented except by a writing signed by an authorized representative of
each of the parties hereto.

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5.6.          Entire
Agreement.  This Agreement
constitutes the entire agreement and supersedes all prior agreements and understandings,
both written and oral, among the parties with respect to the subject matter
hereof.

5.7.          Severability.  Wherever possible, each provision hereof
shall be interpreted in such manner as to be effective and valid under
applicable law, but in case any one or more of the provisions contained herein
shall, for any reason, be held to be invalid, illegal or unenforceable in any
respect, such provision shall be ineffective in the jurisdiction involved to
the extent, but only to the extent, of such invalidity, illegality or
unenforceability without invalidating the remainder of such invalid, illegal or
unenforceable provision or provisions or any other provisions hereof, unless
such a construction would be unreasonable.

5.8.          Third
Parties.  Except as set forth in Article
IV, nothing contained in this Agreement or in any instrument or document
executed by any party in connection with the transactions contemplated hereby
shall create any rights in, or be deemed to have been executed for the benefit
of, any person or entity that is not a party hereto or a successor or permitted
assign of such a party.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be executed as of the day and year first above written.

	
  

  	
  TESSCO TECHNOLOGIES INCORPORATED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David M. Young

  
	
   

  	
   

  	
  Name:

  	
  David M. Young

  
	
   

  	
   

  	
  Title:

  	
  SVP, Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ADVISORY RESEARCH MICROCAP VALUE FUND,

  L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By: ADVISORY RESEARCH, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Heller

  
	
   

  	
   

  	
  Name:

  	
  David Heller

  
	
   

  	
   

  	
  Title:

  	
  Chairman

  
					

 

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