Entry into a Material Definitive Agreement

On March 28, 2017, we entered into a fourth amendment to our Credit Agreement with BMO Harris Bank N.A. (the “Lender”). The fourth amendment extends the term of the agreement until March 28, 2022 while also amending certain of the financial covenants as follows: 1) reduces the maximum consolidated fixed charge coverage ratio from 1.10:1.00 to 1.00:1.00 and 2) removes the monetary cap on non-financed capital expenditures for 2017 and each fiscal year thereafter during the term of the Credit Agreement. In addition, the amendment removes the requirement that incoming cash be used to pay down the outstanding balance on a daily basis and also reduces the pricing structure such that borrowing under the Credit Agreement bears interest at the one month LIBOR plus 1.5% or 1.75%, depending on current availability under the Credit Agreement.

About STARTEK, INC. (NYSE:SRT)

StarTek, Inc. (STARTEK) is a customer engagement business process outsourcing (BPO) services company, which is delivering customer care solutions. The Company operates its business in three segments, based on the geographic regions: Domestic, Nearshore, and Offshore. Its Domestic segment includes the operations of approximately 10 facilities in the United States and one facility in Canada. Its Offshore segment includes the operations of approximately four facilities in the Philippines. Its Nearshore segment includes the operations of approximately two facilities in Honduras and one facility in Jamaica. Its service offerings include customer care, sales support, inbound sales, complex order processing, accounts receivable management, technical and product support, up-sell and cross-sell opportunities, and other industry-specific processes.

STARTEK, INC. (NYSE:SRT) Recent Trading Information

STARTEK, INC. (NYSE:SRT) closed its last trading session up +0.12 at 8.81 with 6,527 shares trading hands.