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                                                                    EXHIBIT 10.7

                      NON-QUALIFIED STOCK OPTION AGREEMENT

<Table>
<Caption>

                   AWARD          NUMBER OF      OPTION PRICE    SOCIAL SECURITY
AWARDED TO         DATE         COMMON SHARES      PER SHARE         NUMBER
----------         ----         -------------    ------------    ---------------
<S>                <C>          <C>              <C>             <C>

              EXPIRATION DATE            VESTING SCHEDULE
</Table>

         The Committee under the 1994 Stock Incentive Plan ("1994 Plan") of The
May Department Stores Company (the "Company") has approved awarding Executive
non-qualified options (referred to in this agreement as "options") to purchase
shares of stock of the Company ("Stock") on the terms and subject to the
conditions set forth in this agreement.

         Therefore, the Company and Executive hereby agree as follows:

         1. The Company hereby awards to Executive options to purchase, in the
aggregate, the number of shares of the presently authorized Stock of the Company
shown above, at the option price shown above. Subject to all other terms and
conditions in this agreement, the options shall be irrevocable.

         2. Subject to all the other terms and conditions in this agreement, the
options may be exercised by Executive on and after the dates and for the
corresponding number of shares shown in the vesting schedule above; provided,
however, that the options may be exercised only on or before the expiration date
shown above.

         3. Executive may exercise options on and after the appropriate vesting
dates (and before a date or event of termination or cancellation) in whole at
any time, or in part from time to time, in blocks at least equal to the lesser
of one hundred (100) shares or the total number of shares which are then
exercisable. Executive shall give the Company(i) a written notice to exercise
such options in whole or in a specified part, which certifies that Executive is
in compliance with the terms and conditions of this agreement and Section 1 of
Part VI of the 1994 Plan and (ii) full payment for the shares then being
purchased ("Payment"). Payment may be made by (a) a cashier's or certified check
payable to the order of the Company, (b) a wire transfer to the Company's
account listed on the notice of exercise, (c) delivery of certificates
representing shares of Stock owned by Executive for at least six months, on such
terms as the Company shall establish from time to time, or (d) by such other
means as the Company may from time to time authorize. Options will be considered
exercised on the earliest of (x) the date that the notice of exercise of options
and Payment are received in the office of the Treasurer of the Company at the
Company's principal offices, 611 Olive Street, St. Louis, Missouri 63101, or at
such other location as may be established in accordance with Section G on the
other side of this agreement, (y) if the notice of exercise and Payment are sent
to that office via independent courier service, the date the courier service
shows that it received them, or (z) if the notice of exercise and Payment are
mailed to that office in the United States mail in one envelope on which the
United States Post Office has stamped its postmark, the date of that postmark.

         4. The terms and conditions on the other side of this agreement are a
part of this agreement.

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         The May Department Stores Company has caused this agreement to be
executed in its corporate name and Executive has executed the same in evidence
of the Executive's acceptance hereof upon the terms and conditions herein set
forth as of the award date shown above.

THE MAY DEPARTMENT STORES COMPANY

By
  ------------------------------              -----------------------------
                                              (Executive)

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         A. (i) In no event may any option be exercised after the tenth
anniversary of the award date shown on the face of this agreement, and any
option may be sooner terminated in accordance with the provisions of the 1994
Plan and of this Section A.

         (ii) If Executive ceases to be an employee of the Company or of a
subsidiary thereof, for any reason other than Retirement or Disability or death,
then all of the outstanding options shall immediately terminate. Executive's
employment shall not be deemed to have ceased solely by reason of a leave of
absence (a) during the first 90 consecutive days of a paid military, sick,
family or other bona fide paid leave of absence or (b) if Executive has a right
of reinstatement expressly guaranteed by either statute, contract, or company or
subsidiary policy. In the event of such a leave of absence, the number of shares
for which options may be exercised during the periods described in clauses (a)
and (b) of the foregoing sentence shall be the number of shares for which
options were exercisable as of the date that the leave of absence began, subject
to the other terms and conditions of this Section A.

         (iii) If Executive Retires or becomes Disabled, the term of any then
outstanding options shall extend for a period ending on the earliest of (a) the
date upon which the options would otherwise expire, (b) three years after such
Retirement (for a reason other than Disability) or (c) twelve months after such
Disability. In that event, the number of shares for which options may be
exercised after that Retirement or Disability shall be the number of shares for
which options were exercisable as of the date of that Retirement or Disability,
subject to the other terms and conditions of this Section A. Options which were
not exercisable as of the date of that Retirement or Disability will no longer
be deemed to be outstanding thereafter.

         (iv) (a) If Executive dies while in the employment of the Company or a
subsidiary thereof without having fully exercised any then outstanding option,
the beneficiary designated by Executive (or, in the absence of such designation,
the executors or administrators or legatees or distributees of Executive's
estate) shall have the right to exercise such option, in whole or in part during
the period ending on the earlier of (1) the date upon which the options would
otherwise expire or (2) three years after the date of death. In that event, the
number of shares for which options may be exercised after such death shall be
the number of shares for which options were outstanding on the date of death
(whether or not the options were already exercisable on the date of death).

         (b) If Executive dies during any period following Executive's
Retirement or Disability, without having fully exercised any then outstanding
option, the beneficiary designated by Executive (or, in the absence of such
designation, the executors or administrators or legatees or distributees of
Executive's estate) shall have the right to exercise such option, in whole or in
part during the period ending on the earlier of (1) the date upon which the
options would otherwise expire or (2) three years after the date of death. In
that event, the number of shares for which options may be exercised after such
death shall be the number of shares for which options were exercisable as of the
date of the Retirement or Disability and remain outstanding on the date of
Executive's death.

         (v) The provisions of paragraph 3 and the foregoing paragraphs (i)
through (iv) of this Section A are subject to the provision that the Committee
may cancel all unexercised options hereunder at any time if the Retirement of
the Executive was without the consent of the Company or the Executive, engages
in employment or activities contrary, in the opinion of the Committee, to the
best interests of the Company. In addition, the Committee may cancel all
unexercised options, and may rescind any exercise of options, if, prior to any
such exercise or within six months of such exercise, one of the events described
in Section 1 of Part VI of the 1994 Plan occurs. Within 10 days after receiving
notice that the Committee has rescinded the exercise of an option, Executive
shall either (i) pay to the Company the excess of the fair market value of the
Stock on the date of exercise of the option over the exercise price for the
option or (ii) return to the Company the Stock received upon the exercise. The
Company may deduct from any amounts the Company owes to the Executive from time
to time the amounts Executive owes the Company pursuant to such rescission.
Notwithstanding any other terms in this agreement, nothing in this Section A or
elsewhere in this agreement shall be deemed or construed as extending the
ten-year period described in Section A(i).

         For purposes of this Section A, a "Competing Business" shall mean (i)
any retail department store, specialty store or other retail business which
sells goods or merchandise of the types sold in the Company's stores at retail
to consumers or any group of such stores or businesses or any other business
which competes (for customers, for suppliers, for employees or for any other
resource) against the Company or any of the Company's subsidiaries, divisions or
stores (in the United States or in any other country in which the Company or any
subsidiary of the Company operates a store or stores at the time), which store,
group of stores or business had annual gross sales volume or revenues (including
sales in leased departments) in the prior fiscal year of more than $25 million
or is reasonably expected to have such sales or revenues in either of the
current fiscal year or the next following fiscal year of more than $25 million;
or (ii) any business which provides buying office services to any store or group
of stores or businesses referred to above; or (iii) any business (in the United
States or in any other country in which the Company or any subsidiary of the
Company operates a store or stores at the time) in which Executive's functions
would be substantially similar to Executive's functions with the Company and
which is in material competition with the Company or any subsidiary or division
of the Company.

"Confidential information" shall mean all non-public information pertaining to
the Company's business, including not only information disclosed by the Company
to Executive, but also information developed or learned by Executive during the
course of or as a result of employment with the Company. The Company's
confidential information includes, without limitation, information and documents
concerning the Company's processes; suppliers (including terms, conditions and
other business arrangements with suppliers); supplier and customer lists;
advertising and marketing plans and strategies;

<PAGE>

profit margins; seasonal plans, goals, objectives and projections; compilations,
analyses and projections regarding the Company's divisions, stores, product
segments, product lines, suppliers, sales and expenses; files; trade secrets and
patent applications (prior to their being public); salary, staffing and
employment information (including information about performance of other
executives); and "know-how," techniques or any technical information not of a
published nature relating, for example, to how the Company conducts its
business.

         (vi) If (a) one of the events described in Section 4 of Part V of the
1994 Plan occurs and (b) Executive is actively employed on the date of such
event, then from and after such date all options outstanding under this
agreement shall be exercisable in full without regard to the provisions of
Section 2 of this agreement.

         B. Promptly following each exercise of an option, shares shall be
delivered to the Executive by the Company, subject to the provisions of Section
D.

         C. Each option is personal to Executive, is not transferable by
Executive (other than, upon the death of Executive, by beneficiary designation,
by last will and testament or by laws of descent and distribution) and, during
Executive's lifetime, is exercisable only by Executive.

         D. The exercise of each option shall be subject to the condition that
if at any time the Company shall determine in its discretion that the
satisfaction of withholding tax or other withholding liabilities under any state
or Federal law ("Withholding Obligation"), or that the listing, registration or
qualification of any shares otherwise deliverable upon such exercise upon any
securities exchange or under any state or Federal law, or the consent or
approval of any regulatory body, is necessary or desirable as a condition of, or
in connection with, the exercise or the delivery or purchase of shares
hereunder, then in any of those events, the exercise shall not be effective
unless that withholding, listing, registration, qualification, consent or
approval shall have been effected or obtained free of any conditions not
acceptable to the Company. Executive shall pay any Withholding Obligation to the
Company at the time of the option exercise by such mode of payment as the
Company may from time to time authorize, which may include payment by (i)
cashier's or certified check, (ii) personal check, (iii) wire transfer or (iv)
the withholding of a number of the shares of Stock payable to Executive in
connection with the option exercise with a fair market value equal to the
Withholding Obligation (with any fractional share rounded up to the nearest
whole share).

         E. If there is (i) any change in the capital structure of the Company
through merger, consolidation, reorganization, recapitalization, spin off or
otherwise, (ii) any dividend on the Stock, payable in such Stock, or (iii) a
stock split, or a combination of shares, a consolidation or merger, the Board
shall make appropriate adjustments in the number and price of shares relating to
options under this agreement.

         F. Nothing in this agreement shall be deemed by implication or
otherwise to impose any limitation on any right of the Company or subsidiary to
terminate the Executive's employment at any time, in the absence of a specific
agreement to the contrary.

         G. Any notice to be given under this agreement by Executive shall be
sent by mail addressed to the Company for the attention of the Treasurer at its
principal offices, 611 Olive Street, St. Louis, Missouri 63101, and any notice
by the Company to Executive shall be sent by mail addressed to the Executive at
the address shown on the face of this agreement, or, if an address is not
available, to Executive at Executive's store company or division. Either party
may, by notice given to the other in accordance with the provisions of this
Section, change the address to which subsequent notices shall be sent.

         H. This agreement shall be governed by the laws of the State of
Delaware. It may not be modified except in writing signed by both parties.

         I. Executive acknowledges that Executive has received a copy of the
1994 Incentive Stock Plan, as such Plan is in effect on the date of this
Agreement, has read and understands the terms of the 1994 Plan and of this
Agreement, and agrees to all of the terms and conditions provided for in the
1994 Plan and in this Agreement.

         J. So long as this agreement shall remain in effect, the Company will
furnish to Executive, as and when available, a copy of each prospectus issued
with respect to the shares of stock covered hereby, and also copies of all
material hereafter distributed by the Company to its shareowners.

         K. Except as otherwise provided herein, or unless the context clearly
indicates otherwise, capitalized terms herein which are defined in the 1994 Plan
have the same definitions as provided in the 1994 Plan.<PAGE>
Exhibit 10.13

                         SYKES ENTERPRISES, INCORPORATED

                           DEFERRED COMPENSATION PLAN

     This Plan is established effective December 17, 1998, as an unfunded
deferred compensation arrangement for a select group of management or highly
compensated personnel and all rights thereunder shall be governed by and
construed in accordance with the laws of the State of Florida.

     ARTICLE I. DEFINITIONS.

          1.01 "Administrator" means Sykes, or such individual or individuals
designated by the Chief Executive Officer of Sykes.

               "Board" means the Board of Directors of Sykes.

               "Change in Control" means (i) the date the majority of the Board
has approved a definitive agreement to merge or consolidate Sykes with or into
another corporation in which Sykes does not control the continuing or surviving
corporation or (ii) the date the Board approves a definitive agreement to sell
or otherwise dispose of substantially all the assets of Sykes.

               "Chief Executive Officer" means the Chief Executive Officer of
Sykes or his designee.

               "Contingent Deferred Obligation" means the total amount of Sykes'
contingent liability for payment of deferred benefits under the Plan.

               "Deferred Compensation Account" means the account maintained for
each Participant composed of deferred income and earnings thereon.

               "Disability" means mental or physical disability of at least six
(6) months which prevents a Participant from engaging in the principal duties of
his employment.

               "Fiscal Year" or "Year" (unless otherwise specified) means the
twelve-month period ending on December 31.

               "Participant" means an employee of Sykes, or of a subsidiary,
designated by the Chief Executive Officer for participation in the Plan, or a
person who was such at the time of his retirement, death, disability or
resignation and who retains, or whose beneficiaries obtain, benefits under the
Plan in accordance with its terms.

               "Plan" means this Deferred Compensation Plan as it may be amended
from time to time.

<PAGE>

               "Retirement" means retirement at or after a Participant attains
age sixty-five (65), or accepts an early retirement offer from Sykes.

               "Subsidiary" means a company of which Sykes owns, directly or
indirectly, at least a majority of the shares having voting power in the
election of directors.

               "Sykes" means Sykes Enterprises, Incorporated, a Florida
corporation, and its corporate successors.

               "Valuation Date" means March 31, June 30, September 30 and
December 31 of each year.

     ARTICLE II. DESIGNATION OF PARTICIPANTS AND INCOME DEFERRAL.

          2.01 The Chief Executive Officer shall have the sole and exclusive
discretion to designate Participants in the Plan from among the senior
management and highly compensated personnel of Sykes. Such designation shall be
made each year prior to the end of Sykes' fiscal year.

          2.02 A designated employee may become eligible to participate in the
Plan as of the first day of a calendar year and may defer income earned during
such calendar year provided that prior to the beginning of the calendar year the
Participant has made an election to defer all or a portion of his income on a
form provided by the Plan for that purpose. Such election is irrevocable. Any
amounts deferred under this provision will be subject to the provisions of this
Deferred Compensation Plan regarding distribution of a Participant's Deferred
Compensation Account. An election made prior to a calendar year shall be binding
for future calendar years unless and until the Participant changes or revokes
the election prior to the beginning of a future calendar year.

          2.03 Compensation deferred by a Participant while he is a Participant
in the Plan shall be deferred until such Participant's retirement, termination,
disability or death and in such event shall be paid out to the Participant or
his beneficiary as hereinafter provided.

          2.04 In the event of a Change in Control, a Participant will be
entitled to a distribution of the balance of his Deferred Compensation Account,
notwithstanding the provisions of Section 2.03. For purposes of Section 4.01, a
Participant will be treated as if he had retired as of the effective date of the
Change in Control. In the event of a distribution of benefits as a result of a
Change in Control, Sykes will increase the benefit by an amount sufficient to
offset the income tax obligations created by the distribution of benefits.

          2.05 A Participant may elect to defer any amount of base compensation
and bonus; provided, however, that a Participant may not defer any payroll
advances, advance payments of bonuses, or any other similar advance of
compensation.

<PAGE>

          2.06 Sykes will match a portion of amounts deferred by a Participant
on a quarterly basis as follows: 50% match on salary deferred, up to a total
match of $12,000.00 per year for senior vice presidents and $7,500.00 per year
for vice presidents and other Participants. The total amount of the matching
contribution made to this Plan will be made in the form of Sykes common stock,
valued as of the last day of the quarter to which the matching contribution is
applicable.

     ARTICLE III. CONTINGENCY PAYMENTS, INVESTMENTS AND FORFEITURES.

          3.01 Sykes shall cause an account to be kept in the name of each
Participant (the Deferred Compensation Account) established for this purpose.
Such amounts deferred by a Participant shall be credited to the Participant's
Deferred Compensation Account on a pro rata basis after each payroll period
during the Fiscal Year. Matching contributions will be made at the end of each
quarter. Earnings on the deferred compensation and the matching contribution
shall be credited to the Participant's Deferred Compensation Account on a
quarterly basis and statements reflecting the balance of each Participant's
Deferred Compensation Account shall be prepared on a quarterly basis as soon as
is practicable after the end of each quarter. A Deferred Compensation Account
shall be kept in the name of each Participant and each beneficiary of a deceased
Participant which shall reflect the value of the deferred contingent benefits,
or in the event that the Participant's benefit has become vested as provided
herein, the value of any vested benefits, payable to such Participant or
beneficiary under the Plan.

               (a)  Investment earnings on the deferred compensation and the
                    matching contribution accounts maintained for each
                    participant shall be credited at the end of each calendar
                    quarter (3/31, 6/30, 9/30, and 12/31), in accordance with
                    the following procedure:

                    (1)  Payments - The total amount of any payments made from
                         the accounts since the last valuation date shall be
                         subtracted from the account balance that existed at the
                         beginning of the quarter.

                    (2)  Deferred Compensation Contributions - Fifty percent of
                         any deferred compensation contributions made by the
                         Participant since the last valuation date shall be
                         added to the account balance that existed at the
                         beginning of the quarter.

                    (3)  Net Gain or Loss - Each Participant's Deferred
                         Compensation Account shall be increased or decreased to
                         reflect a proportionate share of the net increase or
                         net decrease for each investment fund held in the
                         Deferred Compensation Account, since the beginning of
                         the quarter.

                    (4)  Deferred Compensation Contributions - The remaining
                         fifty percent of any deferred compensation
                         contributions made by the participant since the last
                         valuation date shall be added to the account balance
                         that existed at the beginning of the quarter.

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                    (5)  Matching Contributions - The entire amount of any
                         matching contributions made by the Company shall be
                         added to the account balance that existed at the
                         beginning of the quarter.

                    (6)  Investment Transfers - The amount(s) necessary in order
                         to effect an investment transfer requested by the
                         participant shall be added to or subtracted from each
                         investment fund as required. Such transfers shall be
                         made as soon as is practicable.

          3.02 Until and except to the extent that deferred benefits hereunder
are distributed to or vested in a Participant or beneficiary from time to time
in accordance with the provisions of the Plan, the interest of each Participant
and beneficiary therein is contingent only and is subject to forfeiture as
provided in this Plan. Title to and beneficial ownership of any assets, whether
cash or investments, which Sykes may set aside or earmark to meet its contingent
deferred obligation hereunder, shall at all times remain in Sykes; and no
Participant or beneficiary shall under any circumstances acquire any property
interest and any specific assets of Sykes.

          3.03 Any such funds credited to the Deferred Compensation Account of a
Participant shall be invested and reinvested in mutual funds, stocks, bonds,
securities or any other assets that may be selected by the Administrator in its
discretion, provided that it is the intention of the Board in establishing this
Plan that the Administrator will select investment vehicles which are
substantially identical to those investment vehicles provided under the Sykes
401(k) Savings Plan and Trust. In selecting investment vehicles, the Board may
engage investment counsel, and may delegate to such counsel authority to
recommend investment choices be made available for investment within the Plan.
Any such service shall be charged as an expense of administering the Plan.
Participants may request that the Administrator allocate deferred compensation
among investment vehicles selected by the Administrator on a quarterly basis;
and may request reallocation of amounts already deferred and earnings
attributable thereto on the same basis.

          3.04 As a condition of participation in this Plan, the Participant
agrees that on behalf of himself and his designated beneficiary to assume all
risk in connection with any decrease in value of the funds which are invested
and which continue to be invested in accordance with the provisions of this
Plan.

     ARTICLE IV. DISTRIBUTION OF BENEFITS.

          4.01 The benefits to be distributed by the Plan (unless they are
forfeited by the occurrence of any of the events of forfeiture specified in
Section 4.04 below) are as follows: The normal form of benefit is a lump sum of
amounts deferred by the Participant and earnings attributable thereto payable
upon retirement or termination of employment.

               (a)  With respect to the distribution of the Participant's
                    matching contribution, a Participant may elect a
                    distribution of Sykes common stock in the Participant's
                    Deferred Compensation Account, or a distribution of the cash
                    value of the Sykes common stock in the

                                        4

<PAGE>

                    Participant's Deferred compensation Account, valued as of
                    the Valuation Date coincident with or next following the
                    first anniversary date of the Participant's last day of
                    active employment. The distribution of any matching
                    contribution made by Sykes and earnings attributable thereto
                    will be paid as soon as administratively feasible twelve
                    (12) months after retirement or termination of employment,
                    subject to the provisions of this Section 4.01, and provided
                    that the Participant maintains full compliance with the
                    terms of any confidentiality or non-compete agreement to
                    which he is subject.

               (b)  In the event the Participant terminates employment (for
                    reasons other than death, disability or retirement) without
                    participating in the plan for three (3) years, the matching
                    contributions and earnings attributable thereto will be
                    forfeited. In the event that a Participant terminates
                    employment after three (3) years, but less than six (6)
                    years of participation in the Plan, the Participant shall
                    forfeit 75% of the matching contribution and earnings
                    theron. In the event that a Participant terminates
                    employment after six (6) years but less than ten (10) years
                    of participation in the Plan, the Participant shall forfeit
                    50% of the matching contribution and earnings thereon.
                    Forfeitures shall be deducted from the Participant's account
                    upon distribution of the vested account balance. Forfeitures
                    shall be utilized to offset future matching contributions
                    made by the Company.

               (c)  In the event of death of the Participant while still an
                    employee, a lump sum of both Participant's deferrals and a
                    lump sum cash value of the Sykes common stock (valued as of
                    the Valuation Date coincident with or next following the
                    date of the Participant's death) constituting the matching
                    contribution, will be paid to the Participant's named
                    beneficiary as soon as administratively feasible.

               (d)  In the event of the Participant's disability as defined in
                    the Plan, both the Participant's deferrals and the lump sum
                    cash value of the Sykes common stock (valued as of the
                    Valuation Date coincident with or next following the date of
                    the Participant's last day of active employment)
                    constituting the matching contribution will be paid to the
                    Participant in a lump sum as soon as administratively
                    feasible.

          4.02 A Participant may, at the time of initial participation in the
Plan, elect to receive benefits under the Plan in the event of retirement or
disability in one hundred twenty (120) monthly installments of an amount equal
to the fair market value of the assets in the Participant's Deferred
Compensation Account as of the effective date of his retirement or termination
of employment due to disability. In the event that the Participant elects the
distribution of benefits in monthly installments, the total amount payable to
the Participant shall be appropriately increased or decreased as the case may
be, but not more than semi-annually, to reflect the appreciation or depreciation
in value and the net income or loss on the funds which remain invested in the
Participant's Deferred Compensation Account. If the Participant should die
before the one hundred twenty (120) monthly installments are made, the unpaid
balance will continue to be paid in installments for the unexpired portion due
to the Participant's designated

                                        5

<PAGE>

beneficiary in the same manner as set forth above.

          4.03 A Participant shall have the right to designate one or more
beneficiaries who are to succeed to his contingent right to receive future
payments under the Plan in the event of his death. In case of a failure to
designate or the death of a designated beneficiary without a designated
successor, distribution shall be made to the Participant's estate. No
designation of beneficiaries shall be valid unless in writing signed by the
Participant, dated and filed with the Administrator. Beneficiaries may be
changed without the consent of any prior beneficiaries.

          4.04 Notwithstanding anything herein contained to the contrary, no
payment of any then unpaid distribution of Company matching contributions shall
be made and all rights of the Participant, his designated beneficiary, executors
or administrators, or any other person to receive payments of such matching
contribution shall be forfeited if any of the following events shall occur:

               (a)  The  Participant is terminated for "Cause." For the purposes
                    of this Plan,  the Company shall have "Cause" to terminate a
                    Participant's  employment hereunder:  (i) if the Participant
                    engages in conduct which has caused or is reasonably  likely
                    to cause demonstrable and serious injury to Company; (ii) if
                    the  Participant  is convicted of a felony as evidenced by a
                    binding and final  judgment,  order, or decree of a court of
                    competent jurisdiction;  (iii) for the Participant's neglect
                    of his  duties  hereunder  or the  Participant's  refusal to
                    perform  his  duties  or   responsibilities   hereunder   as
                    determined  by the  Company's  Board  of  Directors  in good
                    faith; (iv) for the Participant's  chronic absenteeism;  (v)
                    for the  Participant's  use of illegal  drugs;  (vi) for the
                    Participant's  insobriety while performing his or her duties
                    hereunder;  or(vii) for any act of dishonesty,  embezzlement
                    or  falsification  of  reports,   records,   or  information
                    submitted by the Participant to the Company.

               (b)  The Participant  enters into a business or employment  which
                    the Chief Executive Officer determines to be in violation of
                    any non-compete agreement signed by the Participant in favor
                    of Sykes or a subsidiary.

          4.05 The Administrator may at any time and from time to time order all
or any part of the value of the contingent right of a Participant or beneficiary
to receive future payments without forfeiture.

     ARTICLE V. GENERAL PROVISIONS.

          5.01 Nothing contained in this Plan and no actions taken pursuant to
the provisions of this Plan shall create or be construed to create a trust of
any kind, or a fiduciary relationship between Sykes and a Participant, his
designated beneficiary or any other person. Any funds, which may be invested
under the provisions of this Plan, shall continue for all purposes to be part of
the general funds of Sykes and no person other than Sykes shall by virtue of the
provisions of this Plan have any interest in such funds. To the extent that any
person acquires a right to receive payments from Sykes under this Plan, such
right shall be no greater than the right of any unsecured general creditor of
Sykes.

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<PAGE>

          5.02 The right of a Participant or any other person to the payment of
deferred compensation or other benefits under this Plan shall not be assigned,
transferred, pledged or encumbered except by will or by the laws of descent and
distribution.

          5.03 If the Administrator shall find that any person to whom any
payment is payable under this Plan is unable to care for his affairs because of
illness or accident, or is a minor, any payment due (unless a prior claim
therefor shall have been made by a duly appointed guardian or other legal
representative) may be paid to the spouse, a child, a parent, or a brother or
sister, or to any person deemed by the Administrator to have incurred expense
for such person otherwise entitled to payment, in such manner and proportions as
the Administrator may determine. Any such payment shall be in a complete
discharge of the liabilities of Sykes to the Participant or person under this
Plan.

          5.04 Nothing contained in this Plan shall be construed as conferring
upon a Participant the right to continue in the employ of Sykes as an Executive
or in any other capacity.

          5.05 The Administrator shall have full power and authority to
interpret, construe and administer this Plan; and the Administrator's
interpretations and construction thereof, and actions thereunder, including an
valuation of a Deferred Compensation Account, or the amount or recipient of the
payment to be made therefrom, shall be binding and conclusive upon all persons
for all purposes. No member of the Board of Sykes shall be liable to any person
for any action taken or omitted in connection with the interpretation and
administration of this Plan, unless attributable to his own willful misconduct
or lack of good faith.

          5.06 This Plan shall be binding upon and inure to the benefit of
Sykes, its successors and assigns, and the Participant and his heirs, executors,
administrators and legal representatives.

                                        SYKES ENTERPRISES, INCORPORATED

                                        By: /s/ Margery Bass
                                            ------------------------------------
                                            Margery Bass
                                            Secretary of the Corporation

                                        7

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