Document:

Charter of the Audit Committee of the Board of Directors

 EXHIBIT 10.20 
 GLOBAL BPO SERVICES CORP. 
 AUDIT COMMITTEE CHARTER 
 The Audit Committee’s responsibilities and powers as delegated by the Board of Directors (the “Board”) of Global BPO Services Corp. (the
“Company”) are set forth in this charter. Whenever the Committee takes an action, it shall exercise its independent judgment on an informed basis that the action is in the best interests of the Company and its stockholders. 
  

	I.	PURPOSE 

 The purpose of the Audit Committee is to
represent and assist the Board in its general oversight of the Company’s accounting and financial reporting processes, audits of the financial statements, and internal control and audit functions. Management is responsible for (1) the
preparation, presentation and integrity of the Company’s financial statements; (2) accounting and financial reporting principles and processes; and (3) the Company’s internal controls and procedures designed to promote compliance
with accounting standards and applicable laws and regulations. The Company’s independent auditing firm is responsible for performing an independent audit of the consolidated financial statements in accordance with generally accepted auditing
standards in the United States (“GAAP”). 
 The Audit Committee members are not professional accountants or auditors and their
functions are not intended to duplicate or to certify the activities of management and the independent auditor, nor can the Audit Committee certify that the independent auditor is “independent” under applicable rules. The Audit Committee
serves a board level oversight role where it oversees the relationship with the independent auditor, as set forth in this charter, receives information and provides advice, counsel and general direction, as it deems appropriate, to management and
the auditors, taking into account the information it receives, discussions with the auditor, and the experience of the Audit Committee’s members in business, financial and accounting matters. 
  

	II.	MEMBERSHIP AND STRUCTURE 

 The Audit Committee shall
initially consist of at least three members of the Board. Except as otherwise permitted by the applicable rules of the American Stock Exchange, the Audit Committee will at all times be composed exclusively of directors who satisfy the independence
standards specified in Section 121A of the American Stock Exchange Company Guide and of Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and who have not participated in the preparation of the
financial statements of the Company or any current subsidiary of the Company at any time during the past three years. The Audit Committee shall monitor its members throughout the year to confirm that they all remain “independent.” Each
member of the Audit Committee must be able to read and understand fundamental financial statements, including a company’s balance sheet, income statement and cash flow statement. At least one member of the Audit Committee shall be
“financially sophisticated,” in that he or she has past employment experience in finance or accounting, requisite professional certification in accounting or any other comparable experience 

 
or background which results in the individual’s financial sophistication, including but not limited to being or having been a chief executive officer,
chief financial officer or other senior officer with financial oversight responsibilities. Unless otherwise determined by the Board, at least one member of the Audit Committee shall be an “audit committee financial expert” (as defined by
applicable SEC Rules). Appointment to the Audit Committee and the designation of any Audit Committee members as “audit committee financial experts” shall be made on an annual basis by the full Board. 
 Meetings of the Audit Committee shall be held at such times and places as the Audit Committee shall determine, including by written consent, provided,
however, that in no event shall the Audit Committee meet less than once per quarter. When necessary, the Audit Committee shall meet in executive session outside of the presence of any senior officer of the Company. The Chair of the Audit Committee
shall report on activities of the Audit Committee to the full Board. In fulfilling its responsibilities the Audit Committee shall have authority to delegate its authority to subcommittees, in each case to the extent permitted by applicable law. Any
decision of a subcommittee to preapprove audit, review, attest or non-audit services shall be presented to the full Audit Committee at its next scheduled meeting. 
 Unless the Board elects a Chair of the Audit Committee, the Audit Committee shall elect a Chair by majority vote. 
 The compensation of Audit Committee members shall be as determined by the Board. No member of the Audit Committee may receive, directly or indirectly, any consulting, advisory or other compensatory fee from the Company or any of its
subsidiaries, other than fees paid in his or her capacity as a member of the Board or of a committee of the Board. 
 Members of the Audit
Committee shall be appointed by the Board, upon the recommendation of the Nominating Committee. The Board may remove members of the Audit Committee from such committee, with or without cause. 
  

	III.	RESPONSIBILITIES 

 The Audit Committee: 

 

	 	•	 	 Is directly responsible for the appointment, compensation, retention, termination and oversight of the work of the independent auditor (including resolution of
disagreements between the Company’s management and the independent auditor regarding financial reporting) for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company, and each
such independent auditor must report directly to the Audit Committee. 

  

	 	•	 	 Serves as an independent and objective party to monitor the Company’s financial reporting process, audits of the Company’s financial statements and
internal control system. 

  

	 	•	 	 Reviews and appraises the audit efforts of the independent auditor and internal finance department. 

  

 - 2 - 

	 	•	 	 Approves the compensation to any independent auditor engaged for the purpose of preparing or issuing an audit report or performing other audit, review or attest
services for the Company and its annual engagement as the Company’s independent auditor and appointment thereof by the stockholders. 

  

	 	•	 	 Obtains and reviews annually a report by the independent auditor describing the Company’s internal quality-control procedures, any material issues raised by
the most recent internal quality-control review, or peer review, or by any inquiry or investigation by governmental or professional authorities with respect to one or more independent audits carried out by the firm, and any steps taken to deal with
any such issues. 

  

	 	•	 	 Ensures receipt from the independent auditor and review a formal written statement delineating all relationships between the independent auditor and the Company,
consistent with Independence Standards Board Standard 1, and is responsible for actively engaging in a dialogue with the independent auditor with respect to any disclosed relationship or services that may impact the objectivity and independence of
the independent auditor and takes, or recommends that the full Board take, appropriate action to oversee the independence of the independent auditor. 

  

	 	•	 	 Establishes policies and procedures for the review and pre-approval by the Audit Committee of all auditing services to be performed by the independent auditor or
other firms, and all other services (review, attest and non-audit) to be provided to the Company by the independent auditor; provided, however, that de minimis non-audit services may instead be approved in accordance with applicable SEC rules.

  

	 	•	 	 Reviews and discusses with the independent auditor: (a) its audit plans, and audit procedures, including the scope, fees and timing of the audit; (b) the
results of the annual audit examination and accompanying management letters; and (c) the results of the independent auditor’s procedures with respect to interim periods. 

  

	 	•	 	 Discusses with the Company’s officers and the independent auditor quarterly earnings press releases, including the interim financial information and other
disclosures included therein, reviews the year-end audited financial statements and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, if deemed appropriate, recommends to the Board of
Directors that the Company’s audited financial statements be included in the Company’s Annual Report on Form 10-K for the year. 

  

	 	•	 	 Directs the independent auditor to use its best efforts to perform all reviews of interim financial information prior to disclosure by the Company of such
information and to discuss promptly with the Audit Committee and the Chief Financial Officer any matters identified in connection with the independent 

  

 - 3 - 

	 	 
auditor’s review of interim financial information which are required to be discussed by applicable auditing standards. The Audit Committee shall direct
management to advise the Audit Committee in the event that the Company proposes to disclose interim financial information prior to completion of the independent auditor’s review of interim financial information. 

  

	 	•	 	 Reviews and discusses with the Company’s officers and the independent auditor various topics and events that may have significant financial impact on the
Company or that are the subject of discussions between the Company’s officers and the independent auditors. 

  

	 	•	 	 Reviews and discusses with the Company’s officers the Company’s major financial risk exposures and assesses the steps the Company’s officers have
taken to minimize, monitor and control such exposures. 

  

	 	•	 	 Reviews the Company’s policies and procedures for reviewing and approving or ratifying “related person transactions” (defined as transactions
required to be disclosed pursuant to Item 404 of Regulation S-K) and recommend any changes to the Board. 

  

	 	•	 	 Reviews and discusses with the independent auditor, and the Company’s officers: (a) the adequacy and effectiveness of the Company’s internal controls
(including any significant deficiencies and significant changes in internal controls reported to the Committee by the independent auditor or management; (b) the Company’s internal audit procedures; and (c) the adequacy and
effectiveness of the Company’s disclosures controls and procedures, and management reports thereon. The Audit Committee shall receive and review the reports of the CEO and CFO required by Rule 13a-14 of the Exchange Act.

  

	 	•	 	 Provides an open avenue of communications among the independent auditor, financial and senior management, the Company’s internal finance department, and the
Board. 

  

	 	•	 	 Periodically reviews the Company’s Code of Business Conduct and Ethics to ensure that it is adequate and up-to-date. Reviews with the Company’s primary
counsel the results of their review of the monitoring of compliance with the Company’s Code of Business Conduct and Ethics. 

  

	 	•	 	 Reviews annually with the Company’s officers the scope of the internal audit program, and reviews annually the performance of both the internal audit group and
the independent auditor in executing their plans and meeting their objectives. 

  

	 	•	 	 Reviews the use of auditors other than the independent auditor. 

  

 - 4 - 

	 	•	 	 Establishes procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing
matters, and the confidential, anonymous submission by employees of concerns regarding questionable accounting or auditing matters. 

  

	 	•	 	 Establishes policies for the hiring of employees and former employees of the independent auditor. 

  

	 	•	 	 Prepares the report of the Audit Committee required by the rules of the United States Securities and Exchange Commission to be included in the Company’s proxy
statement relating to its annual meeting of security holders. 

  

	 	•	 	 When appropriate, designates one or more of its members to perform certain of its duties on its behalf, subject to such reporting to or ratification by the Audit
Committee as the Audit Committee shall direct. 

  

	 	•	 	 Review and discuss with the Company’s management and independent auditor the Company’s audited financial statements, including the matters about which
Statement on Auditing Standards No. 61 (Codification of Statements on Auditing Standards, AU §380), as amended, and as adopted by the PCAOB, requires discussion. 

  

	 	•	 	 Reviews, with the Company’s counsel, legal and regulatory matters, including corporate securities trading policies, that in the opinion of management, may have
a material impact on the financial statements, related compliance policies, and programs and reports received from regulators. 

  

	 	•	 	 Sole and direct responsibility for overseeing the work of the independent auditor, including resolution of disagreements between Company management and the
independent auditor regarding financial reporting. The independent auditor shall report directly to the Audit Committee 

  

	 	•	 	 At least annually, review and reassess the adequacy of this Charter and recommend any proposed changes to the Board for approval. 

  

	 	•	 	 Performs any other activities consistent with this Charter of the Audit Committee, the Company’s By-laws and governing law, as the Audit Committee or the Board
deems necessary or appropriate. 

 In connection with its oversight role, the Audit Committee shall, from time to time as
appropriate, receive and consider the reports required to be made by the independent auditor regarding: 
  

	 	•	 	 critical accounting policies and practices; 

  

 - 5 - 

	 	•	 	 alternative treatments within generally accepted accounting principles for policies and practices related to material items that have been discussed with Company
management, including ramifications of the use of such alternative disclosures and treatments, and the treatment preferred by the independent auditor; and 

  

	 	•	 	 other material written communications between the independent auditor and Company management. 

  

	IV.	ADVISORS 

 The Audit Committee is authorized,
without further action by the Board, to engage such independent legal, accounting and other advisors as it deems necessary or appropriate to carry out its responsibilities. Such independent advisors may be the regular advisors to the Company. The
Audit Committee is empowered, without further action by the Board, to cause the Company to pay the compensation of such advisors as established by the Audit Committee. The Audit Committee is empowered, without further action by the Board, to cause
the Company to pay the ordinary administrative expenses of the Audit Committee that are necessary or appropriate in carrying out its duties. 
 The Audit Committee shall have the authority to conduct or authorize investigations into any matters within the scope of its responsibilities as it shall deem appropriate, including the authority to request any officer, employee or advisor
of the Company to meet with the Audit Committee or any advisors engaged by the Audit Committee. 
  

 - 6 -Charter of the Nominating Committee of the Board of Directors

 EXHIBIT 10.21 
 GLOBAL BPO SERVICES CORP. 
 NOMINATING COMMITTEE CHARTER 
 The Nominating Committee’s responsibilities and powers as delegated by the Board of Directors (the “Board”) of Global BPO Services Corp.
(the “Company”) are set forth in this charter. Whenever the Committee takes an action, it shall exercise its independent judgment on an informed basis that the action is in the best interests of the Company and its stockholders.

  

	I.	PURPOSE 

 As set forth herein, the Committee shall,
among other things, discharge the responsibilities of the Board relating to the appropriate size, functioning and needs of the Board including, but not limited to, recruitment and retention of high quality board members and committee composition and
structure, and shall be guided in the discharge of its responsibilities hereunder by the Board of Directors Candidate Guidelines appended hereto. 
  

	II.	MEMBERSHIP 

 The Committee shall consist of such
number of members as the Board shall from time to time determine. Each member shall be “independent” in accordance with the listing standards of the American Stock Exchange, as amended from time to time. 
 The Board shall elect the members of this Committee at the first board meeting practicable following the annual meeting of stockholders and may make
changes from time to time pursuant to the provisions below. Unless a chair is elected by the Board, the members of the Committee shall designate a chair by majority vote of the full Committee membership. 
 A Committee member may resign by delivering his or her written resignation to the chairman of the Board, or may be removed by majority vote of the Board
by delivery to such member of written notice of removal, to take effect at a date specified therein, or upon delivery of such written notice to such member if no date is specified. 
  

	III.	MEETINGS AND COMMITTEE ACTION 

 The Committee shall
meet at such times as it deems necessary to fulfill its responsibilities. Meetings of the Committee shall be called by the chairman of the Committee upon such notice as is provided for in the by-laws of the Company with respect to meetings of the
Board. A majority of the members shall constitute a quorum. Actions of the Committee may be taken in person at a meeting or in writing without a meeting. Actions taken at a meeting, to be valid, shall require the approval of a majority of the
members present and voting. Actions taken in writing, to be valid, shall be signed by all members of the Committee. The Committee shall report its minutes from each meeting to the Board. 
 The chairman of the Committee shall establish such rules as may from time to time be necessary or appropriate for the conduct of the business of the
Committee. At each meeting, the 

  

 1 

 
chairman shall appoint as secretary a person who may, but need not, be a member of the Committee. A certificate of the secretary of the Committee or minutes
of a meeting of the Committee executed by the secretary setting forth the names of the members of the Committee present at the meeting or actions taken by the Committee at the meeting shall be sufficient evidence at all times as to the members of
the Committee who were present, or such actions taken. 
 The Committee shall have the authority to engage such independent legal and other
advisors as it deems necessary or appropriate to carry out its responsibilities, provided that the Committee advises the Board of any such engagement. Such independent advisors may be the regular advisors to the Company. The Committee is empowered,
without further action by the Board, to cause the Company to pay the compensation of such advisors as established by the Committee. 
  

	IV.	COMPENSATION 

 The compensation of the Committee
shall be as determined by the Board. 
  

	V.	COMMITTEE AUTHORITY AND RESPONSIBLITIES 

  

	 	•	 	 Developing the criteria and qualifications for membership on the Board. 

  

	 	•	 	 Recruiting, reviewing and recommending to the Board person to be nominated or to fill vacancies on the Board. 

  

	 	•	 	 Reviewing candidates proposed by stockholders, and conducting appropriate inquiries into the background and qualifications of any such candidates.

  

	 	•	 	 Establishing subcommittees for the purpose of evaluating special or unique matters. 

  

	 	•	 	 Monitoring and making recommendations regarding committee functions, contributions and composition. 

  

	 	•	 	 Evaluating, on an annual basis, the Committee’s performance. 

  

	 	•	 	 Retaining and terminating any search firm to be used to identify director nominees, including approving the search firm’s fees and other retention terms.

  

	 	•	 	 Recommending to the Board the directors to be appointed to each committee of the Board. 

  

	VI.	REPORTING 

 The Committee shall prepare a statement
each year concerning its compliance with this charter for inclusion in the Company’s proxy statement. 
  

 2 

 GLOBAL BPO SERVICES CORP. 
 BOARD OF DIRECTOR CANDIDATE GUIDELINES 
 The Nominating Committee of GLOBAL BPO
SERVICES CORP. (the “Company”) will identify, evaluate and recommend candidates to become members of the Board of Directors (the “Board”). Nominations to the Board may also be submitted to the Nominating Committee by the
Company’s stockholders in accordance with the Company’s policy, a copy of which is attached hereto. The Nominating Committee does not distinguish among nominees recommended by stockholders and other persons. Candidates will be evaluated in
the context of the Board as a whole, with the objective of recommending a group of persons that can best implement the Company’s business plan, perpetuate its business and represent stockholder interests. In conducting this assessment, the
Committee will consider and evaluate each director-candidate based upon its assessment of the following criteria: 
  

	 	•	 	 Whether the candidate is independent pursuant to the requirements of the American Stock Exchange. 

  

	 	•	 	 Whether the candidate is actively engaged in business endeavors. 

  

	 	•	 	 Whether the candidate is accomplished in his or her field and has a reputation, both personal and professional, that is consistent with the image and reputation of
the Company. 

  

	 	•	 	 Whether the candidate has an understanding of financial statements, corporate budgeting and capital structure. The Nominating Committee also will determine if a
candidate satisfies the criteria for being an “audit committee financial expert,” as defined by the Securities and Exchange Commission. 

  

	 	•	 	 Whether the candidate has relevant experience and expertise and would be able to provide insights and practical wisdom based upon that experience and expertise.

  

	 	•	 	 Whether the candidate has knowledge of the Company and issues affecting the Company. 

  

	 	•	 	 Whether the candidate is familiar with the industries relevant to the Company’s business endeavors. 

  

	 	•	 	 Whether the candidate is committed to enhancing stockholder value. 

  

	 	•	 	 Whether the candidate fully understands, or has the capacity to fully understand, the legal responsibilities of a director and the requirements and governance
processes of a publicly traded company. 

  

	 	•	 	 Whether the candidate is of high moral and ethical character and would be willing to apply sound, objective and independent business judgment, and to assume broad
fiduciary responsibility. 

  

 3 

	 	•	 	 Whether the candidate will be able to promote a diversity of views based on his or her education, experience and professional employment.

  

	 	•	 	 Whether the candidate will be willing to devote significant time to the oversight duties of the board of directors of a public company.

  

	 	•	 	 Whether the candidate has any prohibitive interlocking relationships or conflicts of interest. 

  

	 	•	 	 Whether the candidate is able to develop a good working relationship with other Board members and contribute to the Board’s working relationship with the
senior management of the Company. 

  

	 	•	 	 Whether the candidate is able to suggest business opportunities to the Company. 

  

 4 

 STOCKHOLDER RECOMMENDATIONS FOR DIRECTORS 
 Stockholders who wish to recommend to the Nominating Committee a candidate for election to the Board of Directors should send their letters to 177 Beacon
Street, Unit 4, Boston, MA 02116, Attention: Nominating Committee. The Corporate Secretary will promptly forward all such letters to the members of the Nominating Committee. Stockholders must follow certain procedures to recommend to the Nominating
Committee candidates for election as directors. In general, in order to provide sufficient time to enable the Nominating Committee to evaluate candidates recommended by stockholders in connection with selecting candidates for nomination in
connection with the Company’s annual meeting of stockholders, the Corporate Secretary must receive the stockholder’s recommendation no later than thirty (30) days after the end of the Company’s fiscal year. 
 The recommendation must contain the following information about the candidate: 
  

	 	•	 	 Name; 

  

	 	•	 	 Age; 

  

	 	•	 	 Business and current residence addresses, as well as residence addresses for the past 20 years; 

  

	 	•	 	 Principal occupation or employment and employment history (name and address of employer and job title) for the past 10 years (or such shorter period as the
candidate has been in the workforce); 

  

	 	•	 	 Educational background; 

  

	 	•	 	 Permission for the Company to conduct a background investigation, including the right to obtain education, employment and credit information;

  

	 	•	 	 The number of shares of common stock of the Company beneficially owned by the candidate; 

  

	 	•	 	 The information that would be required to be disclosed by the Company about the candidate under the rules of the SEC in a Proxy Statement soliciting proxies for the
election of such candidate as a director (which currently includes information required by Items 401, 404 and 405 of Regulation S-K); and 

  

	 	•	 	 A signed consent of the nominee to serve as a director of the Company, if elected. 

  

 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]