Document:

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                                                                   EXHIBIT 10.20

                          Share Purchase AGREEMENT

This AGREEMENT is made on the 30th day of June, 2000 by and between:

(1)  MR. RAJESH JAIN son of MR. CHANDANMAL JAIN residing at C-51 Siddhartha
     Building, 21, Nepean Sea Road, Mumbai - 400 036; and

(2)  MS. BHAVANA R JAIN wife of  MR. RAJESH JAIN residing at C-51 Siddhartha
     Building, 21, Nepean Sea Road, Mumbai - 400 036; and

(3)  C.M. JAIN IMPEX AND INVESTMENTS PRIVATE LIMITED a private company
     incorporated under the Companies Act, 1956 and having its registered office
     at 304, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400 021.

who are shareholders of IndiaWorld Communications Private Limited described
hereinafter, and whose names and details of shareholding in the company are
given in Schedule 1 hereto (all of whom are hereinafter collectively referred to
as the "Vendors" and individually referred to as a "Vendor") of the First Part;

(4)  SATYAM INFOWAY LIMITED, a public company within the meaning of the
     Companies Act, 1956 (1 of 1956) having its registered office at II Floor,
     1-8-303/36, Mayfair Centre, S.P. Road, Secunderabad 500 003 (hereinafter
     referred to as the "Purchaser") of the Second Part; and

(5)  INDIAWORLD COMMUNICATIONS PRIVATE LIMITED, a private company within the
     meaning of the Companies Act, 1956 (1 of 1956) and having its registered
     office at 304 Tulsiani Chambers, 212 Nariman Point, Mumbai - 400 021, India
     (hereinafter referred to as the "Company") of the Third Part.

WHEREAS:

(A). The parties have signed an agreement dated 29 November 1999 titled
"Agreement for Option to Purchase Shares" (hereinafter the "Option Agreement")
where under the Purchaser has acquired an option to purchase from the Vendors
1,51,000 equity shares of Rs.10 each held by the Vendors in the Company for the
consideration and on the terms and conditions contained in the said Option
Agreement;

(B). Subject to the terms and conditions contained in the Option Agreement the
Purchaser is entitled to acquire from the Vendors the said 1,51,000 shares in
the Company at any time till 30 September 2000 for an aggregate consideration of
Rs.376,74,00,000;
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376,74,00,000 (Rupees Three hundred seventy six crores Seventy four lacs);

(C). The Vendors have desired that the consideration for the sale of the
1,51,000 shares in the Company be partly paid and discharged by issue and
allotment of shares to the Vendors in the Purchaser and the Purchaser has agreed
to the same;

NOW THIS AGREEMENT WITNESSETH as under:

1.   In modification of the terms of the Option Agreement dated 29 November 1999
     the Vendors and the Purchaser agree that the aggregate consideration
     payable by the Purchaser to the Vendors for sale and transfer of 1,51,000
     shares held by the Vendor in the Company viz. Rs.376,74,00,000 shall be
     paid and discharged by the Purchaser to the Vendors in the following
     manner:

     (a). Rs.51,31,00,000 adjusted against the earnest money paid in terms of
     the Option Agreement;

     (b). Rs.110 crores (rounded off to the nearest rupee) to be paid by issue
     and allotment to the Vendors of 2,68,500 equity shares in the Purchaser of
     Rs.10 each at premium of Rs.4,086.64 (the value calculated at Rs.4,096.64
     per share being the equivalent in Indian Rupees of the value of four ADRs
     of SIFY in NASDAQ at the end of business on Friday the 23rd June 2000
     converted at the US Dollar to Rupees rate equivalent at that time). These
     shares will be issued and allotted to the three vendors on or before 11th
     July 2000 in the following manner:

          (i)    RAJESH JAIN          2,630 equity shares in the Company
          (ii)   MS. BHAVANA R JAIN   2,630 equity shares in the Company
          (iii)  C.M. JAIN IMPEX AND INVESTMENTS
                 PRIVATE LIMITED 2,63,240 equity shares in the Company

     (c) The balance Rs 215.43 crores shall be paid and discharged by payments
     as follows:

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          (i)    C.M. JAIN IMPEX AND INVESTMENTS PRIVATE LIMITED: Rs.215.43
                 crores by demand draft.

2.   The terms and conditions contained in the Option Agreement shall be binding
     and enforceable in all respects subject only to the modifications contained
     in this Agreement. The issue and allotment in favour of the Vendors of the
     shares in the Purchaser mentioned in clause 1 (a) above shall be completed
     at the time of completion in terms of clause 5 of the Option Agreement.

IN WITNESS WHEREOF, the parties have signed and executed this Agreement on the
date first above mentioned.

SIGNED AND DELIVERED BY:

1.  MR. RAJESH JAIN
2.  MS. BHAVANA R JAIN
3.  C.M. JAIN IMPEX AND
INVESTMENTS PRIVATE LIMITED
by the hand of its Director,
Mr. C.M. Jain the Vendors
within Named in the presence

SIGNED AND DELIVERED BY
On behalf of SATYAM
INFOWAY LIMITED,
the Purchaser within named
by the hand of its duly
authorised official in
the presence of

SIGNED AND DELIVERED BY
On behalf of India World Communication
Private Limited
the Company within named,
by the hand of C.M. Jain
its Director in the
presence of

SIGNED AND DELIVERED BY
1.  Mr. Rajesh Jain
2.  Mr. Chandanmal Jain
3.  Ms. Pushpa C. Jain
Directors of INDIA WORLD
COMMUNICATIONS PRIVATE
LIMITED in the prsence ofEXHIBIT 10.3

                              AMENDED AND RESTATED
                             CONTRACT OF EMPLOYMENT

      This AMENDED AND RESTATED CONTRACT OF EMPLOYMENT ("Agreement"), made and
entered into this 30th day of May, 2000, by and between Mercantile Bank and Gulf
West Banks, Inc., both corporations duly organized and existing under the laws
of the State of Florida (hereinafter collectively referred to as "Banks"), and
Gordon W. Campbell, as Chairman and Chief Executive Officer ("CEO") of the Banks
(hereinafter referred to as "Executive").

      WHEREAS, the Banks and Executive have seen fit to establish matters
normally dealt with in an employment contract such as salary, vehicle allowance,
expenses, and hospitalization by separate determinations, and

      WHEREAS, it is not the intent of the parties to attempt to incorporate in
this Agreement any such separate determinations, nor is the exclusion of said
items from this Agreement in any way intended to nullify said determinations or
to modify them in any way, and

      WHEREAS,  Mercantile  Bank and  Executive  entered  into a
Contract of Employment ("Contract") on November 5, 1992; and

      WHEREAS, the Banks and Executive now desire to amend the Contract in
certain respects by this Agreement.

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      NOW, THEREFORE, in consideration of Executive's past services and those to
be performed in the future, and based upon their mutual covenants and good and
valuable consideration, the Banks and Executive do agree as follows:

                               TERM; COMPENSATION

      The Executive is hereby employed by the Banks for a period of twelve (12)
years, commencing the 30th day of May, 2000, with an annual salary of $260,000,
plus incentive bonuses. Such salary and bonuses are subject to increase or
decrease as determined by the Boards of Directors of the Banks ("Boards").

                             ALLOWANCES AND BENEFITS

      The Executive shall be entitled to receive reimbursements and benefits of
all types commensurate with, and at least equal to, the benefits of the other
corporate officers, excepting only benefits which are given to a specific
officer for a specific and separate banking purpose.

                              DUTIES OF THE OFFICE

      The Executive hereby commits to the Banks to carry out, to the best of his
ability, the duties set forth in the respective Bylaws and Charter of each
corporation for his position as CEO, Chairman, or such office or offices in a
corporation or corporations, or any subsidiary corporation, to which he may be
elected and appointed by the respective Boards, subject to such reasonable
requirements and allowances as the Executive shall request. The Executive shall
perform such other reasonable duties as shall from time to time be prescribed by
the Directors of the Banks. The Executive shall devote his time and attention to
the business and

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affairs of the Banks, and shall use his best efforts to promote the best
interest of the Banks.

      The Banks understand that the Executive has business interests outside of
the Banks, and there is no intent by this Agreement to restrict those business
interests or to prohibit the Executive from holding office in other corporations
or owning interest in other corporations, so long as said corporations do not
have an interest which substantially conflicts with the interests of the Banks,
and so long as the carrying out of the duties of such other offices do not by
the requirements of time, talent, or knowledge interfere in any way with the
Executive's ability to fully perform the duties assigned to him by the Boards.

                                   SEPARATION

      A. DISCHARGE FOR CAUSE. The Banks may, at any time, terminate this
Agreement for "Cause," which term is hereby defined as any activity of the
Executive which is: 1) clearly inconsistent with his fiduciary duties to the
Banks; 2) in violation of the laws of the State of Florida or the United States
of America and which constitutes a felony; 3) morally reprehensible and of such
a nature as to clearly have a substantial adverse effect upon the business of
the Banks; or 4) conduct of a financial nature, either in the Executive's
personal life or in the conduct of the business of the Banks, which could pose a
substantial risk of either loss to the Banks or severe criticism by those in
regulatory authority over the Banks. The Banks shall have the sole discretion to
determine whether Cause exists.

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      B. RESIGNATION AND TERMINATION NOT FOR CAUSE. In the event the Executive's
duties as Chairman or CEO of either Bank are terminated, whether by Executive or
by the Banks, for any reason other than for Cause, as above defined, the
Executive shall be retained as a consultant to the Banks with a salary set by
the Boards, but in no event less than $70,000 per year for the remaining term of
the Agreement. As such consultant, the Executive shall make himself available to
the Banks, at their request, for an aggregate total of no less than 330 hours
per year (on average, approximately thirty (30) hours per month during eleven
(11) months of the year).

      In the event the Executive is discharged because of physical or mental
inability to perform his duties, the discharge will be considered a termination
not for Cause and the requirement that the Executive make himself available to
the Banks for consulting shall be reduced in such manner as the physical or
mental inability necessitates.

      C. SUCCESSORS. The Banks shall use their best efforts to require any
successor or assignee, whether direct or indirect, by purchase, merger,
consolidation or otherwise, to all or substantially all the business or assets
of either Bank, expressly and unconditionally, to assume and agree to perform
the Bank's obligations under this Agreement, in the same manner and to the same
extent that the Banks would be required to perform if no such succession or
assignment had taken place. In such event, the term "Banks," as used in this
Agreement, shall mean the Banks as hereinbefore defined and any successor or
assignee to the

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business or assets which by reason hereof becomes bound by the terms and
provisions of this Agreement.

      D. BENEFITS AFTER SEPARATION. In the event of (i) separation not for
Cause, as above specified, (ii) retirement at any time after the term of the
Agreement, or (iii) retirement during the term of the Agreement if such
retirement is agreed to by the Banks and the Executive, the Banks agree to make
available to the Executive and his spouse (if such spouse was covered by the
Banks' health benefits program before the separation or retirement) health
benefits which are substantially similar to the health benefits provided to the
Executive and his spouse (if applicable) prior to the termination or retirement.
The Executive shall pay the same portion of the cost of such benefits as is paid
by any other active officer of the Banks.

                                  MISCELLANEOUS

      A. APPLICABLE LAW AND BINDING EFFECT. This Agreement shall be interpreted
and construed in accordance with the laws of the State of Florida.

      B. AMENDMENT. This Agreement may not be modified orally, and may only be
modified by a writing signed by all parties to this Agreement.

      C. ATTORNEYS' FEES. If either party initiates proceedings for the other's
breach of this Agreement, the prevailing party shall recover attorneys' fees and
costs, including such fees and costs on any enforcement or appeal proceedings.

      D. SEVERABILITY. If one or more provisions of this Agreement are ruled
invalid or unenforceable, such invalidity or unenforceability shall not affect
any other provision of the Agreement, which shall remain in full force and
effect.

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      E. BANKS. All parties understand that although Executive is employed by
both Banks, for purposes of this Agreement, the Banks have agreed to act in
concert with respect to the employment of the Executive.

      F. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which
together shall constitute one and the same document.

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

                                          MERCANTILE BANK
                                          GULF WEST BANKS, INC.

                                          By: /S/ ROSS ROEDER
                                              ----------------------------------
                                              Ross Roeder
                                              Compensation Committee Chair

                                          /S/ GORDON W. CAMPBELL
                                          --------------------------------------
                                          GORDON W. CAMPBELL

                                          ATTESTED BY:

                                          /S/ BARRY K. MILLER
                                          --------------------------------------
                                          Barry  K. Miller
                                          Secretary of the Board

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