Document:

Q3 2004 Exhibit 10.25

                                           EXHIBIT 10.25 

June 11, 1999

 

 

Mr. George Kadifa

   2112 Webster St.

   Palo Alto, CA 94301

 

Dear George:

On behalf of Corio, Incorporated ("Corio" or the "Company") and its Board
of Directors, I am pleased to offer you employment on the terms and conditions
stated in this letter. Corio is offering you the position of President and Chief
Executive Officer, working out of the Company's headquarters in Redwood City,
California. Assuming that you accept the terms of employment described in this
letter, and subject to appropriate shareholder and Board of Director consents,
you would also become a member of the Board of Directors of Corio. Subject to
fulfillment of the conditions imposed by this letter agreement, you will start
in this new position on or before August 1, 1999 (the "Start Date").

You will be paid a monthly salary of $25,000.00, which is equivalent to
$300,000.00 on an annualized basis. Your salary will be payable according to
regular payroll policy. 

During the first year following the Start Date, you will be eligible to
receive a performance bonus of $100,000.00 based on mutually agreed upon
objectives. After the first year, the amount of your bonus eligibility and the
relevant bonus objectives will be determined by the Board of Directors. 

On your Start Date, I will recommend that the Board of Directors grant you an
incentive stock option to purchase the equivalent of 7% of the Company's shares
(1,100,000 shares), of the Company's Common Stock at a purchase price equal to
the fair market value on the date of the grant and also give you the option to
purchase the equivalent of 7% of the Company's shares of any future finance
rounds prior to an IPO. Your right to the shares will be subject to vesting over
a four-year period, with 25% vesting on the first anniversary of your Start Date
and the balance in 36 equal monthly installments following such anniversary
date. 

In the event that you are terminated involuntarily without cause during the
first year of your employment, the Company shall be obligated to pay you salary
and bonus continuance for twelve (12) months, and you will be entitled to vest
1/48th of the shares subject to your option for each month you were
employed with the Company. In the event that you are terminated involuntarily
without cause after the first year of your employment, the Company shall be
obligated to pay your salary continuance for up to six (6) months, provided that
if you start employment at another company during this six (6) month period the
salary continuance will cease. The foregoing shall constitute all of the
severance and other benefits to which you are entitled on any termination of
employment, except as may otherwise be provided by written policies of the
Company. For purposes of this offer letter, the term termination "with cause"
shall mean termination of your employment by reason of: (i) your commission of
any act of fraud with respects to the company or the Company's business; (ii)
your conviction in connection with or being formally charged with the commission
of a felony or any crime which, in the good faith judgment of the Company's
Board of Directors, involved moral turpitude and has caused or will cause
material harm to the standing and/or reputation of the Company; (iii) your
violation of the Proprietary Information and Inventions Agreement, or any
misappropriation and/or intentional or unauthorized disclosure of the Company's
confidential and/or proprietary information, (iv) your use of drugs or any
illegal substance, or use of alcohol in any manner that interfere with the
performance of your duties; and/or (v) your chronic absence from work for
reasons other than illness. 

Corio will provide you with standard medical and dental benefits according to
the Company's current policies.

Your employment with Corio, should you accept this offer, will not be for any
specific term and may be terminated at any time, with or without cause and with
or without notice, by you or by the Company for any reason. Any contrary
representations or agreements which may have been made to you are superseded by
this offer. The at-will nature of your employment described in this offer letter
shall constitute the entire agreement between you and Corio concerning the
duration of your employment and the circumstances under which either you or the
Company may terminate the employment relationship. No person affiliated with
Corio has the authority to enter into any oral agreement that changes the
at-will status of employment with the Company. The at-will term of your employment
with the Company can only be changed in a writing signed by you and the
Chairperson of the Company's Board of Directors, which expressly states the
intention to modify the at-will term of your employment. 

By signing below and accepting this offer, you acknowledge and agree that
length of employment, promotions, positive performance reviews, pay increases,
bonuses, increases in job duties or responsibilities and other changes during
employment will not change the at will term of your employment with Corio and
will not create any implied contract requiring cause for termination of
employment. 

Your employment pursuant to this offer is contingent upon your executing the
enclosed Proprietary Information and Inventions and upon your providing the
Company with the legally-required proof of your identity and authorization to
work in the United States. 

As an employee of Corio, you will be required to comply with all Company
policies and procedures. In particular, you will be required to familiarize
yourself with and to comply with Corio's policy prohibiting unlawful harassment
and discrimination and the policy concerning drugs and alcohol. Violations of
these policies may lead to immediate termination of employment. 

If you wish to accept this offer, please sign below and return the fully
executed letter to us, along with the executed Proprietary Information and
Inventions Agreement. You should keep one copy of this letter for your own
records. This offer, if not accepted, will expire on June 21, 1999. 

We are looking forward to having you join us at Corio. If you have any
questions, please call me at 650-233-3387.

Very truly yours, 

Corio, Inc.

 

By: _/s/ Ted Schlein_______________

                            Ted Schlein

                            For the Board of Directors

I have read and accept this employment offer.

	
Dated:___06/13/99___
	 	
/s/ George Kadifa_______

                George KadifaQ3 2004 Exhibit 10.26

                                           EXHIBIT 10.26 

Amendment to Offer Letter

The offer letter dated June 11, 1999 between George Kadifa and Corio, Inc.
(the "Offer Letter") is hereby amended effective July 15, 2004, as
follows:

The first two (2) sentences of paragraph five (5) of the Offer Letter are
hereby deleted in their entirety and replaced with the following two (2)
sentences:

In the event that you are terminated involuntarily without cause, the Company
shall be obligated to pay you salary continuance for up to twelve (12) months
(based on the greater of your actual annual salary or a salary of $300,000 per
year), provided that if you start employment at another company during this
twelve (12) month period the salary continuance will cease. 

Except as specifically provided herein, the remaining provisions of the Offer
Letter shall remain in force.  The parties, intending to be legally bound
hereby, enter this Amendment to Offer Letter effective as of July 15, 2004.

 

CORIO, INC.

 

 

By:  __/s/  Ted Schlein_________________________

Ted Schlein

For the Board of Directors

 

 

 

___/s/  George Kadifa__________________________

George KadifaQ3 2004 Exhibit 10.27

                                           EXHIBIT 10.27 

Amendment

Effective as of April 15, 2001, this Amendment amends the Change in Control
Agreement (the "Agreement"), dated as of March 7, 2000, by and between George
Kadifa ("Executive") and Corio, Inc., a Delaware corporation (the
"Company").

For good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows:

Section 1 of the Agreement is hereby deleted in its entirety and replaced
with the following:

"1. Benefits Upon a Change in Control. If (i) during the term of this
Agreement and while Executive remains as an employee of the Company, the Company
shall be subject to a Change in Control and (ii) within one (1) year
following such Change in Control the Company terminates the employment of
Executive involuntarily and without Business Reasons or a Constructive
Termination occurs, then in such case Executive shall be entitled to receive the
following: (A) Executive's base salary and vacation accrued through the
Termination Date, (B) vesting of all outstanding stock options and other equity
arrangements vested and held by Executive through the Termination Date, plus
acceleration of the greater of (1) one-half of the options and other equity
arrangements that remain unvested as of the Termination Date or (2) an
additional twelve (12) months of vesting of such options and other equity
arrangements from the Termination Date, and (C) to the extent required by COBRA
only, continuation of group health benefits pursuant to the Company's standard
programs or in effect at the Termination Date, for a period of not less than 18
months (or such longer period as may be required by COBRA), provided that
Executive makes the necessary conversion."

IN WITNESS WHEREOF, each of the parties has executed this Amendment, in the
case of the Company by its duly authorized officer, as of the day and year first
written above.

 

COMPANY

CORIO, INC.

 

By: /s/ John Whittle

Its: VP, General Counsel

 

EXECUTIVE

/s/ George Kadifa

George KadifaQ3 2004 Exhibit 10.28

                                           EXHIBIT 10.28 

Change in Control Agreement Amendment
2

Effective October 4, 2004, this Amendment amends the
Change in Control Agreement, as amended effective April 15, 2001, (the
"Agreement"), entered into as of March 7, 2000 by and between George
Kadifa, an individual ("Executive") and Corio, Inc., a Delaware
corporation (the "Company").

For good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

1.  Section 6.   Section 6 of the Agreement is hereby deleted
in its entirety and replaced with the following:

"6.Term of Agreement.  This Agreement shall commence as of
the date first set forth above and shall continue until the date (the
"Termination Date") which is the earlier of (i) the date that
Executive ceases to be an employee of the Company, for any reason, and (ii)
December 31, 2007.  Any benefits accruing to Executive under Section 1 hereof
prior to or upon the Termination Date shall survive termination of the
Agreement, and any obligations of Executive under Sections 1, 4 and 5 hereof
shall survive any such termination."

The remaining provisions of the Agreement
remain in full force and effect.

IN WITNESS WHEREOF, each of the parties has executed this
Agreement, in the case of the Company by its duly authorized officer, as of the
day and year first above written.

COMPANY

CORIO, INC.

By:      /s/   BRETT WHITE
Brett White

Executive Vice President and CFO

EXECUTIVE

    /s/ GEORGE KADIFA

George
Kadifa

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