Document:

Exhibit 10.1

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

     THIS  AGREEMENT is entered into as of the 15th day of August,  2000, by and
between  Hopkinsville  Federal Savings Bank (the "Bank") and Michael L. Woolfolk
(the "Employee").

     WHEREAS, the Bank desires to employ the Employee; and

     WHEREAS,  the Employee is willing to commence  employment  with the Bank on
the terms and conditions set forth below, and the Board of Directors of the Bank
has  determined  that such terms and  conditions  are reasonable and in the best
interests of the Bank.

     NOW, THEREFORE, it is AGREED as follows:

     1.  Employment.  The Employee is hereby  employed by the Bank. The Employee
shall serve as Executive  Vice  President  and Chief  Operations  Officer of the
Bank. Except to the extent that the President and Chief Executive Officer of the
Bank  shall have  delegated  a portion  of such  authority  to one or more other
officers,  the Employee shall provide  general  supervision of the operations of
the Bank to insure that assigned duties and responsibilities are carried out and
shall perform such other  administrative and management services for the Bank as
are currently rendered and as are customarily performed by persons situated in a
similar executive capacity. The Employee shall also promote, by entertainment or
otherwise, as and to the extent permitted by law, the business of the Bank.

     2. Base Compensation. The Bank agrees to pay the Employee as Executive Vice
President  and Chief  Operations  Officer  during the term of this  Agreement  a
salary (the "Base Salary") at the rate of $72,000 per annum, payable in cash not
less  frequently  than  monthly.  The Board  shall  review,  not less often than
annually, the rate of the Employee's Base Salary, and in its sole discretion may
decide to increase his Base Salary.

     3.  Discretionary  Bonuses.  The Employee shall participate in an equitable
manner with all other senior  management  employees of the Bank in discretionary
bonuses that the Board of Directors of the Bank ("Board") may award from time to
time to the Bank's senior management  employees.  No other compensation provided
for in this Agreement  shall be deemed a substitute for the Employee's  right to
participate in such discretionary bonuses.

     4. (a)  Participation in Retirement,  Medical and Other Plans. The Employee
shall be entitled to  participate  in any plan that the Bank  maintains  for the
benefit of its employees if the plan relates to (i) pension, profit-sharing,  or
other  retirement  benefits,  (ii)  medical  insurance or the  reimbursement  of
medical or dependent care  expenses,  or (iii) other group  benefits,  including
disability and life insurance plans.

<PAGE>

     (b)  Employee  Benefits.  The  Employee  shall  participate  in any  fringe
benefits  that are or may  become  available  to the  Bank's  senior  management
employees,  including,  for example: any stock option or incentive  compensation
plans and any other benefits that are commensurate with the responsibilities and
functions to be performed by the Employee under this Agreement.

     (c)  Expenses.   The  Employee  shall  be  reimbursed  for  all  reasonable
out-of-pocket  business  expenses  that he shall  incur in  connection  with his
services under this Agreement upon substantiation of such expenses in accordance
with the policies of the Bank.

     (d) Relocation Expenses. The Bank shall assist the Employee with reasonable
expenses  incurred in moving  furniture,  normal  household  goods and  personal
belongings to Hopkinsville,  Kentucky.  Some or all of such relocation  expenses
may be taxable income to the Employee.

     5. Term.  The Bank hereby  employs the  Employee,  and the Employee  hereby
accepts such employment under this Agreement,  for the period  commencing on the
date  hereof  and  ending  36  months  thereafter  (or such  earlier  date as is
determined  in accordance  with Section 9 hereof).  Not more than 24 months from
the date hereof,  the Board shall meet to review the Employee's  performance and
shall  determine in a duly adopted  resolution  whether the  performance  of the
Employee  has met the  Board's  requirements  and  standards  and  whether  this
Agreement shall be extended.

     6. Loyalty, Full Time and Attention.

     (a) During the period of his  employment  hereunder and except for illness,
reasonable  vacation  periods,  and reasonable  leaves of absence,  the Employee
shall devote all his full business time,  attention,  skill,  and efforts to the
faithful performance of his duties hereunder;  provided that, from time to time,
the Employee may serve on the board of directors  of, and hold any other offices
or positions in, companies or organizations,  that will not present any conflict
of  interest  with  the  Bank  or any  of its  subsidiaries  or  affiliates,  or
unfavorably  affect  the  performance  of  Employee's  duties  pursuant  to this
Agreement,  or will not  violate any  applicable  statute or  regulation.  "Full
business time" is hereby defined as that amount of time usually  devoted to like
companies  by  similarly  situated  executive  officers.  During the term of his
employment  under this Agreement,  the Employee shall not engage in any business
or activity  contrary to the business  affairs or  interests of the Bank,  or be
gainfully employed in any other position or job other than as provided above.

     (b) Nothing contained in this Section 6 shall be deemed to prevent or limit
the Employee's  right to invest in the capital stock or other  securities of any
business  dissimilar  from that of the Bank, or, solely as a passive or minority
investor, in any business.

     7. Standards. The Employee shall perform his duties under this Agreement in
accordance with such  reasonable  standards as the Board may establish from time
to time.  The

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<PAGE>

Bank will provide the Employee with the working  facilities and staff  customary
for similar executive officers and necessary for him to perform his duties.

     8. Vacation and Sick Leave. The Employee shall be entitled, without loss of
pay, to absent himself voluntarily from the performance of his duties under this
Agreement  in  accordance  with the terms set forth  below,  all such  voluntary
absences to count as vacation time; provided that:

     (a) The Employee shall be entitled to an annual vacation in accordance with
the  policies  periodically  established  by the  Board  for  senior  management
employees of the Bank.

     (b) The Employee  shall not receive any  additional  compensation  from the
Bank on account of his failure to take a vacation,  and the  Employee  shall not
accumulate  unused  vacation from one fiscal year to the next,  except in either
case to the extent authorized by the Board.

     (c) In addition to the  aforesaid  paid  vacations,  the Employee  shall be
entitled,   without  loss  of  pay,  to  absent  himself  voluntarily  from  the
performance  of his  employment  obligations  with the Bank for such  additional
periods  of time and for such valid and  legitimate  reasons as the Board may in
its discretion approve.  Further, the Board may grant to the Employee a leave or
leaves of  absence,  with or  without  pay,  at such time or times and upon such
terms and conditions as the Board in its discretion may determine.

     (d) In  addition,  the  Employee  shall be entitled to an annual sick leave
benefit as established by the Board.

     9. Termination and Termination Pay. The Employee's employment hereunder may
be terminated under the following circumstances:

     (a) Death.  The Employee's  employment under this Agreement shall terminate
upon his death during the term of this Agreement,  in which event the Employee's
estate shall be entitled to receive the  compensation  due the Employee  through
the last day of the calendar month in which his death occurred.

     (b)  Disability.  The Bank may terminate the  Employee's  employment  after
having  established,  through  a  determination  by the  Board,  the  Employee's
Disability.  For purposes of this  Agreement,  "Disability"  means a physical or
mental infirmity that impairs the Employee's  ability to  substantially  perform
his duties  under this  Agreement  and that  results  in the  Employee  becoming
eligible for long-term disability benefits under the Bank's long-term disability
plan (or, if the Bank has no such plan in effect,  that  impairs the  Employee's
ability to substantially perform his duties under this Agreement for a period of
180 consecutive  days).  The Employee shall be entitled to the  compensation and
benefits provided for under this Agreement for (i) any period during the term of
this  Agreement  and prior to the  establishment  of the  Employee's  Disability
during  which  the  Employee  is unable  to work due to the  physical

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<PAGE>

or  mental  infirmity,  or (ii) any  period of  Disability  that is prior to the
Employee's  termination  of employment  pursuant to this Section 9(b);  provided
that any benefits paid  pursuant to the Bank's  long-term  disability  plan will
continue as provided in such plan.

     (c) For Just  Cause.  The Board  may,  by written  notice to the  Employee,
immediately  terminate his employment at any time, for Just Cause.  The Employee
shall have no right to receive  compensation  or other  benefits  for any period
after  termination  for Just  Cause.  Termination  for "Just  Cause"  shall mean
termination  because  of, in the good  faith  determination  of the  Board,  the
Employee's personal  dishonesty,  incompetence,  willful  misconduct,  breach of
fiduciary duty involving personal profit,  intentional failure to perform stated
duties,  willful  violation of any law, rule or  regulation  (other than traffic
violations or similar  offenses) or final  cease-and-desist  order,  or material
breach of any provision of this Agreement.  Notwithstanding  the foregoing,  the
Employee shall not be deemed to have been terminated for Just Cause unless there
shall have been delivered to the Employee a copy of a resolution duly adopted by
the affirmative vote of not less than a majority of the entire membership of the
Board  (excluding  the  Employee  if a member of the  Board) at a meeting of the
Board called and held for the purpose (after  reasonable  notice to the Employee
and an opportunity for the Employee to be heard before the Board),  finding that
in the good faith  opinion of the Board the  Employee  was guilty of conduct set
forth above in the second  sentence of this  Subsection  (c) and  specifying the
particulars thereof in detail.

     (d) Without Just Cause.  The Board may, by written  notice to the Employee,
immediately terminate his employment at any time for any reason;  provided that,
if such  termination is for any reason other than pursuant to Sections 9(a), (b)
or (c) above,  the  Employee  shall be entitled  to receive the salary  provided
pursuant  to  Section  2  hereof,  up to the  date  of  expiration  of the  term
(including any renewal term then in effect) of this Agreement. Said sum shall be
paid,  at the option of the Employee,  either (1) in periodic  payments over the
remaining  term of  this  Agreement,  as if the  Employee's  employment  had not
terminated, or (2) in one lump sum within 10 days of such termination.

     (e) Termination or Suspension Under Federal Law.

     (1)  If  the  Employee  is  removed  and/or  permanently   prohibited  from
participating  in the  conduct of the Bank's  affairs by an order  issued  under
Sections  8(e)(4) or 8(g)(1) of the Federal  Deposit  Insurance Act ("FDIA") (12
U.S.C.  ss.1818(e)(4)  or  (g)(1)),  all  obligations  of the  Bank  under  this
Agreement  shall  terminate,  as of the effective date of the order,  but vested
rights of the parties shall not be affected.

     (2) If the Bank is in default (as defined in Section 3(x)(1) of FDIA),  all
obligations  under this  Agreement  shall  terminate  as of the date of default;
however,  this  Paragraph  9(e)(2)  shall not affect  the  vested  rights of the
parties.

     (3) All  obligations  under this Agreement shall  terminate,  except to the
extent that  continuation  of this  Agreement  is  necessary  for the  continued
operation of the Bank:  (A) by the Director of the Office of Thrift  Supervision
("OTS"), or his or her designee,

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<PAGE>

at the time  that the  Federal  Deposit  Insurance  Corporation  enters  into an
agreement to provide  assistance to or on behalf of the Bank under the authority
contained  in Section  13(c) of the FDIA;  or (B) by the Director of the OTS, or
his or her  designee,  at the time that the  Director  of the OTS, or his or her
designee, approves a supervisory merger to resolve problems related to operation
of the Bank or when the Bank is  determined  by the Director of the OTS to be in
an unsafe or unsound  condition.  Such action shall not affect any vested rights
of the parties.

     (4) If a notice  served  under  Section  8(e)(3)  or (g)(1) of the FDIA (12
U.S.C.ss.1818(e)(3)   or  (g)(1))  suspends  and/or  temporarily  prohibits  the
Employee from  participating  in the conduct of the Bank's  affairs,  the Bank's
obligations  under  this  Agreement  shall be  suspended  as of the date of such
service unless stayed by appropriate  proceedings.  If the charges in the notice
are  dismissed,  the Bank may in its discretion (A) pay the Employee all or part
of the compensation withheld while its contract obligations were suspended,  and
(B) reinstate (in whole or in part) any of its obligations that were suspended.

     (5) If any of the  provisions  of  this  Paragraph  9(e)  conflict  with 12
C.F.R.ss.563.39(b), the latter shall prevail.

     (f) Voluntary Termination by Employee. Subject to the provisions of Section
11 hereof,  the  Employee may  voluntarily  terminate  employment  with the Bank
during the term of this  Agreement,  upon at least 60 days' prior written notice
to the Board,  in which case the Employee  shall receive only his  compensation,
vested rights and employee benefits accrued up to the date of his termination.

     (g)  Limitation  by  Section  18(k) of the FDIA.  Notwithstanding  anything
herein to the  contrary,  any  payments  made to the  Employee  pursuant to this
Agreement,  or otherwise,  are subject to and conditioned  upon their compliance
with  Section  18(k) of the FDIA (12 U.S.C.  ss.  1828(k))  and any  regulations
promulgated thereunder.

     10. No  Mitigation.  The  Employee  shall not be required  to mitigate  the
amount of any payment provided for in this Agreement by seeking other employment
or  otherwise,  and no such payment  shall be offset or reduced by the amount of
any  compensation  or  benefits  provided  to the  Employee  in  any  subsequent
employment.

     11. Successors and Assigns.

     (a) This  Agreement  shall inure to the benefit of and be binding  upon any
corporate  or other  successor  of the Bank  that  shall  acquire,  directly  or
indirectly,   by  merger,   consolidation,   purchase  or   otherwise,   all  or
substantially all of the assets or stock of the corporation.

     (b) Since the Bank is contracting for the unique and personal skills of the
Employee,  the Employee  shall be precluded  from  assigning or  delegating  his
rights or duties  hereunder  without first  obtaining the written consent of the
Bank.

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<PAGE>

     12.  Amendments.  No  amendments  or additions to this  Agreement  shall be
binding  unless  made in  writing  and signed by all of the  parties,  except as
herein otherwise specifically provided.

     13.  Applicable  Law.  This  Agreement  shall be governed in all  respects,
whether as to its validity, construction, capacity, performance or otherwise, by
the laws of the Commonwealth of Kentucky,  except to the extent that Federal law
shall be deemed to apply.

     14.  Severability.  The  provisions  of  this  Agreement  shall  be  deemed
severable and the  invalidity  or  unenforceability  of any provision  shall not
affect the validity or enforceability of the other provisions hereof

     15. Entire  Agreement.  This Agreement,  together with any understanding or
modifications  thereof as agreed to in writing by the parties,  shall constitute
the entire agreement between the parties hereto.

         IN WITNESS WHEREOF, the parties have executed this Agreement on the day
and year first above written.

ATTEST:                              HOPKINSVILLE FEDERAL SAVINGS BANK

________________________             By:/s/  John E. Peck
                                        ----------------------------------------
Secretary                               John E. Peck, President and
                                        Chief Executive Officer

WITNESS:

________________________             By: /s/  Michael L. Woolfolk
                                         ---------------------------------------
                                          Michael L. Woolfolk

                                       6EXHIBIT 10.1

                              CONSULTING AGREEMENT
                              --------------------

     THIS  AGREEMENT is entered  into  effective  April 30, 2000  between  SITEL
Corporation,  a Minnesota  corporation,  111 South Calvert  Street,  Suite 1900,
Baltimore,  Maryland 21202 ("SITEL"),  and DreamField Partners, Inc., a Nebraska
corporation,   1004   Farnam   Street,   Suite  204,   Omaha,   Nebraska   68102
("Consultant").

     THE PARTIES AGREE AS FOLLOWS:

     1.  Retention as  Consultant.  SITEL  retains  Consultant  to provide,  and
Consultant  agrees to  provide,  consulting  and  advisory  services to SITEL as
reasonably  requested by SITEL,  with  Consultant's  time  commitment  hereunder
anticipated to be the equivalent of two days per month.  Consultant will involve
the  personal  services  of  its  Chairman,  Bill  L.  Fairfield,  in  providing
Consultant's  services under this Agreement.  SITEL acknowledges that Consultant
has other business,  community and personal commitments and responsibilities and
confirms that  reasonable  efforts will be made so that  Consultant  can provide
these services at times which are not in conflict with  Consultant's  other time
commitments and responsibilities.

     2. Compensation for Services.  SITEL shall pay Consultant $5,000 per month,
in arrears,  at the end of each calendar month during which this agreement is in
effect;  such  compensation  shall be prorated for any partial calendar month in
which this agreement begins or terminates.

     3.  Expenses.  SITEL also shall  pay,  or  reimburse  Consultant  for,  all
reasonable  business  expenses of Consultant in the  performance of its services
under this agreement  which are incurred and reported in accordance with SITEL's
policies and procedures.

     4.  Term;  Termination.  The  term of this  agreement  shall  begin  on the
effective date hereof and continue thereafter month to month until terminated by
either party at any time upon 30 days written notice.

     5.  Confidential  Information.  During  the  term  of  this  agreement  and
thereafter,  Consultant  agrees to safeguard  all  confidential  information  it
receives  from  SITEL,  to use  such  confidential  information  solely  for the
advancement of SITEL's interests, and to disclose such information only to those
persons who are required to have such  information in connection with their work
for SITEL and to other  persons only as may be expressly  authorized by SITEL in
writing.  Confidential  information  includes,  without  limitation:   financial
reports and  information;  management  reports;  business  forecasts;  strategic
planning and  marketing  information;  training  manuals;  pricing  information;
personnel and salary  information;  client lists and information;  and contracts
with (and confidential information of) clients, business partners, suppliers and
others.  Confidential  information  does not include any  information  which has
become  known  generally to the public  (other than as a result of  unauthorized
disclosure by Consultant or others who are under confidentiality  obligations to
SITEL). Upon SITEL's request following termination of this agreement, Consultant
will promptly return to SITEL all materials containing confidential  information
within its  possession or control  which SITEL  furnished him during the term of
this agreement.

                                       1
<PAGE>

     6. Independent  Contractor.  This is an independent  contractor arrangement
and not an employment arrangement. Consultant is not and shall not be considered
an  agent,  employee,  joint  venturer,  or  partner  of SITEL by virtue of this
consulting  arrangement.  Consultant  shall have no authority to contract for or
bind SITEL in any manner and shall not represent himself as an agent of SITEL or
as  otherwise  authorized  to act for or on  behalf  of SITEL by  virtue of this
consulting arrangement.

     7. Assignment.  This is an agreement for personal services and shall not be
assignable  by  Consultant.  This  agreement  shall bind and  benefit  SITEL and
Consultant and their respective successors and permitted assigns.

     8. Governing Law. This agreement is governed by Maryland law.

     9. Entire Agreement. This agreement expresses the parties' entire agreement
regarding the consulting services to be provided by Consultant.

                               SITEL CORPORATION

                               By:  /s/ Phillip A. Clough
                                  ----------------------------------------------
                                  Phillip A. Clough
                                  Chief Executive Officer

                                  DREAMFIELD PARTNERS, INC.

                              By: /s/ Bill L. Fairfield
                                  ----------------------------------------------
                                  Bill L. Fairfield
                                  Chairman

                                       2

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