Document:

Exhibit
10.22

EMPLOYMENT
AGREEMENT

THIS AGREEMENT
is made on March 12, 2007

BETWEEN:

Ness Technologies, Inc.

Having
offices at 3 University Plaza Suite 600, Hackensack, N.J.

(the
“Company”)

 

Mr. Ofer Segev

167
Thorndike St.

Brookline,
MA 02446

(the
“Executive”)

WHEREAS, the Company desires to employ the Executive
as Chief Financial Officer (“CFO”) of the Company and the Executive is willing
to commit himself to be employed by the Company directly or through Ness USA
Inc. or other subsidiary; and

WHEREAS, the parties desire to enter into
this Agreement
setting forth the terms and conditions of the employment relationship of the
Executive with the Company;

NOW, THEREFORE, in consideration of the
premises and the mutual agreements set forth below, and intending to be legally
bound, the parties hereto hereby agree as follows:

1.             Personal Employment Agreement.  This Employment Agreement is the only
agreement, which shall govern the relations between the Company and the
Executive, and shall exclusively determine the Executive’s terms of employment
by the Company.  This Agreement shall be
binding upon the parties, and shall not be subject to any other agreements or
arrangements of any kind.

2.             Term.  The period of
employment of the Executive by the Company hereunder (the “Employment Period”)
shall commence on  March 1, 2007 (the “Effective
Date”) and shall end on 31.12.2009 (the “Initial Period”), provided, however,
that the Employment Period shall automatically be extended for successive one
year periods (each a “Renewal Period”) unless either of the parties shall give
to the other party written notice of its desire not to so extend the Employment
Period no later than six (6) months prior to the expiration of Initial Period
or the Renewal Period, as the case may be. The Employment Period may be
terminated as described in Sections 5 
and 6.

3.             Position and Duties.

(a)            As of April 1, 2007 and during the
Employment Period, the Executive shall serve as the Chief Financial Officer
(CFO) of the Company, and shall provide such other services to the Company as
he shall be requested from time to time by the Company.

(b)           The Executive agrees to devote all of
his working time and efforts to the performance of his duties for the Company.
Until July 2007 the Executive place of work will be  at the Company’s USA offices and thereafter
in the Company’s offices in Tel Aviv.

4.             Compensation and Related Matters.

(a)            Annual
Salary.  As compensation
for the performance by the Executive of his obligations hereunder, during the
Employment Period, the Company shall pay the Executive an annual salary of
US$200,000 paid in monthly installments (each installment shall be referred to
as “the Monthly Salary”). Once a year the parties will review the Executive
salary.

(b)           Gross
Salary.  The Monthly Salary
represents the Executive’s gross salary, and includes all of the salary
components other then as specifically indicated in this Agreement and various
supplements and benefits and/or all supplements under any law and/or expansion
order and/or any special or general collective bargaining agreement that may
apply to the relations between the Company and the Executive.  It is hereby acknowledged and agreed that all
payments to the Executive by the Company, including, without limitation, the
Monthly Salary and other benefits and payments of any kind, as provided in this
Agreement are, unless otherwise required by law (e.g. — Company’s contribution
to social insurance etc.), stated in gross figures, and there shall be deducted
therefrom all relevant taxes and/or charges that shall apply to them, at the
time of their payment, pursuant to any applicable law The Executive’s services
are included among the positions of management and the positions requiring a
special degree of personal trust and the Company is not able to supervise the
number of working hours of the Executive. 
Accordingly, the Executive and he will not be entitled to any additional
remuneration whatsoever for his work with the exception of that specifically
set out in this Agreement.

(c)            Options.  The Executive shall be entitled to options to
purchase shares of Common Stock of the Company as shall be set forth in Exhibit
A, in accordance with the terms of the option agreement, in the form
attached hereto as Exhibit A.  It
is hereby clarified that such options shall be at all times subject to the
Company’s Employee Share Option Plan and the applicable provisions of the Tax
Code and any rules and regulations promulgated thereunder.

(d)           Bonus.  Subject to the complete discretion of the
Chief executive Officer of the Company who may, if  he deems fit, in his sole discretion, set
annual targets for the Executive as the basis for determining the amount of
annual bonuses payable to the Executive 
and subject to the approval of the Company’s Compensation Committee the
Company shall pay to the Executive an annual bonus  of up to US$100,000 (“Maximum Bonus”). In the
event that the Company shall employ the Executive only during part of a fiscal
year, the bonus shall be paid in part, in proportion to that part of the fiscal
year during which the Executive was employed hereunder. All bonuses are gross
and subject to tax, and are not part of the Executive regular salary. The bonus
will be payable on the April salary (paid in May) for the preceding year. As of
the second year of employment the Chief executive Officer of the Company  subject to the approval of the Company’s
Compensation Committee may raise the maximal annual bonus to US$200,000 at his
discretion.

(e)            Expenses.
The Company shall promptly reimburse the Executive for all reasonable business
expenses incurred during the Employment Period by the Executive in performing
services hereunder, including all expenses of travel and living expenses while
traveling on business or at the request of and in the service of the Company,
provided that such expenses are incurred and accounted for in accordance with
the policies and procedures established by the Company, including the
submission to the Company of appropriate vouchers or receipts for such
expenses.

(f)            Company
Car. The Executive shall be entitled to the use of a Company
car, in accordance with the Company’s policy and as customary for executives of
the Company.  The Company shall pay all
expenses in connection with the car, and shall reimburse the Executive for all
income taxes imposed in connection with his use of the car by way of grossing
up (“GILUM”)

(g)           Managers
Insurance Policy.  During
the Employment Period, the Company shall contribute to an insurance company as
part of a Managers Insurance Policy, which shall be the property of the Company
an amount equal to 13 1/3% of the Monthly Salary (out of which 5% shall be for
provident funds and 8 1/3% shall serve to cover severance compensation). The
executive shall have the right to allocate the contribution of the
above-mentioned 13 1/3% between Managers Insurance Policy program and a Pension
fund. In the event due to applicable tax law or regulation, the executive shall
not be entitled to deduct any part of the above mentioned 13 1/3% contribution,
the executive shall have the right to receive this part of the contribution as
part of his salary (similar to the equivalent treatment of advanced study fund
(“Keren Hishtalmut”). Any tax
payable in respect of such contributions to the insurance company shall be paid
by the Executive.  The aforementioned
allocations shall be in lieu of severance pay according to the Severance Pay
Law, 1963 provided that upon any increase in the Monthly Salary the Company
will contribute to the policy a sum of 8 1/3% multiplied by the increase and
the number of months since the beginning of the Employment Period    . The policy will include irrevocable
instructions of the Company for an automatic transfer of title upon termination
of employment for any reason other than termination by the Company pursuant to
Art. 5 (c) (III) below.

(h)           Disability
Insurance.  In addition to
the foregoing, during the Employment Period the Company will bear the cost of
disability insurance with an insurance company, which secures a monthly payment
to the Executive according to the policy terms. 
In any event the amount paid by the Company for such insurance shall not
exceed 2.5% of the Executive’s gross salary.

(i)             Advanced Study Fund. 
The Company shall, during the Employment Period, make monthly contributions
on behalf of the Executive to a

recognized
Advanced Study Fund in an amount equal to 7.5% of the Executive’s salary. Any
tax payable in respect of such contributions to such fund shall be paid by the
Executive. In addition the Company shall deduct 2.5% from the Executive’s
salary which deduction shall also be paid to such Fund.  All deposits shall belong to the Executive.

(j)             Vacation.  The
Executive shall be entitled to vacation days and to compensation in respect of
earned but unused vacation days, determined in accordance with the Company’s
vacation plan (currently 24 working days per year that can be aggregated for up
to

two years (up to
48 days)[“The Aggregating Period”]. 
Official state holidays in Israel shall not be considered as vacation
days. Within the Aggregating Period the company shall not obligate the
Executive to leave for vacation including during the Notice Period.

(k)            Medical
Examination.  The Company
shall pay for one annual medical examination of the Executive, to be performed
at a medical center of the Executive’s choice, provided that the cost of such
examination shall not exceed the cost of a similar examination at the
Tel-HaShomer hospital.

(l)             Alternative Allocation of Payments.  At the Executive’s request, the Company shall
modify the payments and benefits set forth in this Section 4 by increasing
certain payments and benefits and decreasing others, in accordance with the
Executive’s request, Including allocation to medical and dental insurance while
residing in the US provided, however, that all such modifications shall not
result in any increase to the overall cost to the Company of the Executive’s
employment (including costs in connection with future entitlements of the
Executive or his heirs). Once the executive is positioned in Israel his salary
will be paid in NIS and shall be adjusted at the time of each payment of the
salary in accordance with the changes in the Israeli Consumer Price Index. It
is hereby stated that such adjustment to the CPI shall be deemed to include any
incremental cost of living addition to which the executive may become entitled
and that the Executive shall not be entitled to such addition

(m)           Daily
Newspaper. The Executive shall be entitled to the “Globes”
newspaper and or a daily newspaper on the Company’s account.

(n)           Insurance
and Indemnification. The company undertakes to take all
necessary steps and actions in order to (1) include the executive under the
directors’ and officers’ insurance policy providing sufficient insurance
coverage and (2) Providing him with full indemnification. Both insurance and
indemnification shall be in full force and effect for the Term of his
employment by the company plus additional seven years.

5.             Termination.  The Executive’s employment hereunder may be
terminated, in which case the Employment Period shall end, under the
circumstances set forth below:

(a)            Death.  The Executive’s employment hereunder shall
terminate upon his death.

(b)           Disability.  If, as a result of the Executive’s incapacity
due to physical or mental illness or injury, the Executive shall have been
absent from the performance of his duties hereunder for a period of six
consecutive months or 180 days within a one year period, the Company may
terminate the Executive’s employment hereunder for “Disability.”

(c)            Cause.  The Company may terminate the Executive’s
employment hereunder for Cause.  For
purposes of this Agreement, the Company shall have “Cause” to terminate the
Executive’s employment hereunder only upon the occurrence of any of the
following events:

(i)             The conviction of the Executive for
the commission of a felony; or

(ii)            An event constituting a material
breach of this Agreement by the Executive, including, but not limited to,
breach by the Executive of the provisions of Section 3 hereof, that has not
been fully cured within seven (7) days after written notice thereof has been
given by the Company to the Executive; or

(iii)           Serious misconduct by the Executive
(including, but not limited to, breach by the Executive of the provisions of
Section 7 hereof) that is injurious to the Company or its subsidiaries or any
other member of the Group, whether monetarily or otherwise.

(d)           Termination by the Company.
Notwithstanding the foregoing, the Company may terminate the Executive’s
employment during the Employment Period at any time for any reason whatsoever,
subject to a prior written notice delivered by the Company to the Executive,
which shall take effect as set forth in Section 6(b) below.

(e)            Termination by the Executive .  The Executive may terminate his employment
during the Employment Period hereunder, subject to a prior written notice
delivered by the Executive to the Company, which shall take effect as set forth
in Section 6(b) below.

6.                                      Termination Procedure.

(a)           Notice
of Termination.  Any termination
of the Executive’s employment by the Company or by the Executive (other than
termination pursuant to Section 5(a) hereof) shall be communicated by written
Notice of Termination to the other party hereto in accordance with Section
9.  For purposes of this Agreement, a “Notice
of Termination” shall mean a notice which shall indicate the specific
termination provision in this Agreement relied upon and shall set forth in
reasonable details the facts and circumstances claimed to provide a basis for
termination of the Executive’s employment under the provision so indicated.

(b)           Date of Termination.  “Date of Termination” shall mean (i) if the
Executive’s employment is terminated by his death, the date of his death, (ii)
if the Executive’s employment is terminated for Disability pursuant to Section
5(b) above, thirty (30) days after Notice of Termination, (iii) if the
Executive’s employment is terminated pursuant to Section 5(c), then six (6)
months after the delivery of Notice of Termination, except if such termination
is pursuant to Section 5(c)(i) in which case the Date of Termination shall be
the date of Notice of Termination and (iv) if the Executive’s employment is
terminated pursuant to Section 5(d), six (6) months after the delivery of
Notice of Termination in the first year of employment, nine (9) months as of
the second year of employment (v) if the Executive’s employment is terminated
pursuant to Section 5(e), six (6) months after the delivery of Notice of
Termination.  The Company shall be
entitled to terminate the employment before the Date of Termination given
provided that it gives the Executive all the benefits set forth in and subject
to Section 4 above in respect of the period through the Date of Termination.

(c)            Termination by Company for
Cause.  If the Executive’s
employment shall be terminated by the Company for Cause, then the Company shall
pay the Executive his Monthly Salary (at the rate in effect at the time Notice
of Termination is given) and all other unpaid amounts and benefits through the
Date of Termination.  The Company shall
have no 

additional
obligations to the Executive under this Agreement except as set forth in this
Section 6(c) and in Section 4 (n ) for an event that is not the cause of
termination.

(d)           Termination by Company
without Cause.  If the
Executive’s employment shall be terminated by the Company pursuant to Section
5(d) above, then the Company shall continue to pay the Executive his Monthly
Salary including benefits (at the rate in effect at the time of the Notice of
Termination) until the Date of Termination.

(e)           Deposits to Pension Programs.  Upon
the termination of the Executive’s employment, provided that such termination
was not pursuant to Article 5 (c) (iii) above, the Executive shall be entitled
to all amounts deposited in his favor in pension programs, including payments
made for severance pay.  However in
case  the termination is following  a conviction in a felony the Executive will
lose his rights to such deposits only if and when the conviction is final and
unappealable.

7.                                       Confidential Information; Noncompetition.

(a)            Confidential
Information.  In
consideration of the Company’s agreements hereunder, and in further
consideration of the benefits accruing to the Executive hereunder, the
Executive hereby agrees that he shall not, directly or indirectly, disclose or
use at any time, either during or subsequent to the Employment Period, any
trade secrets or other confidential information, whether patentable or not, of
the Company, its subsidiaries or its affiliates now or hereafter existing,
including but not limited to, any (i) processes, formulas, trade secrets,
innovations, inventions, discoveries, improvements, research or development and
test results, specifications, data and know-how; (ii) marketing plans, business
plans, strategies, forecasts, unpublished financial information, budgets,
projections, product plans and pricing; (iii) personnel information, including
organizational structure, salary, and qualifications of employees; (iv)
customer and supplier information, including identities, product sales and
purchase history or forecasts and agreements; and (v) any other information
(collectively, “Confidential Information”), of which the Executive is or
becomes informed or aware during the Employment Period, whether or not
developed by the Executive, except (A) as may be reasonably required for the
Executive to perform the Executive’s employment duties with the Company, (B) to
the extent such information becomes generally available to the public through
no wrongful act of the Executive, (C) information which has been disclosed
without restriction as a result of a subpoena or other legal process, after
doing best efforts to give the Company the opportunity to request a suitable
protective order for such information, or (D) with the Company’s prior written
authorization.  This covenant shall
survive the termination of the Executive’s employment hereunder for a period of
three year after termination.  The
Executive agrees to execute such further agreements and/or confirmations of the
Executive’s obligations to the Company concerning non-disclosure of
Confidential Information as the Company may reasonably require from time to
time.  Upon termination of the Employment
Period, the Executive shall promptly deliver to the Company all physical and
electronic copies and other embodiments of Confidential Information.

(b)           Noncompetition
Covenant.  The Executive
agrees that at all times during the Employment Period and thereafter until the
first anniversary of the termination or expiration of the Employment Period
(the “Noncompetition Period”), the Executive shall not, except on

behalf of the
Company or with the Company’s consent, directly or indirectly, allow his name
to be used by or Participate in any Competitive Business (as each of such terms
is defined below).  For purposes of this
Agreement, (A) the term “Participate” means to have any direct or indirect
interest, participation or involvement, whether as an officer, director,
employee, partner, sole proprietor, agent, representative, independent
contractor, consultant, franchiser, franchisee, creditor, owner, stockholder or
otherwise; provided, however, that the foregoing shall not
prevent the Executive from engaging in the activities described in Exhibit B
investing in publicly traded securities issued by any corporation, provided the
holdings thereof by the Executive do not constitute more then five percent (5%)
of outstanding shares so long as the Executive does not have any participation
in the business management of such entity; and (B) the term “Competitive
Business” means any enterprise, venture or proprietorship engaged in or which
proposes to engage in  IT services

(c)            Non
Solicitation of Employees. 
The Executive recognizes that he will possess confidential information
about other executives and employees of the Company, its subsidiaries and
affiliates relating to their education, experience, skills, abilities,
compensation and benefits, and inter-personal relationships with customers of
the Company, its subsidiaries and affiliates. 
The Executive recognizes that the information he will possess about
these other employees is not generally known, is of substantial value to the
Company, its subsidiaries and affiliates in developing their businesses and in
securing and retaining customers, and has been and will be acquired by him
because of his business position with the Company, its subsidiaries and
affiliates.  The Executive agrees that,
during the Employment Period and the Noncompetition Period, he will not, directly
or indirectly, solicit  or recruit any
employee of the Company or its subsidiaries (hereinafter- the Group) for the
purpose of being employed by him or by any competitor of the Company or of the
Group on whose behalf he is acting as an agent, representative or employee and
that he will not convey any such confidential information or trade secrets
about other employees of the Company or the Group to any other person.

(d)             Ownership
of Developments.  Any invention, improvement, design,
development or discovery conceived, developed, created or made by Executive
alone or with others, during the period of his employment hereunder and
applicable to the business of the Company, whether or not patentable or
registrable, shall become the sole and exclusive property of the Company.  Executive shall disclose the same promptly
and completely to the Company and shall, during the period of his employment
hereunder and at any time and from time to time hereafter (i) execute all documents
requested by the Company for vesting in the Company the entire right, title and
interest in and to the same, (ii) execute all documents requested by the
Company for filing and prosecuting such applications for patents, trademarks
and/or copyrights as the Company, in its sole discretion, may desire to
prosecute, and (iii) give the Company all assistance it reasonably requires,
including the giving of testimony in any suit, action or proceeding, in order
to obtain, maintain and protect the Company’s right therein thereto.

In the event that the Company is unable to secure the signature of
Executive on any document necessary to apply for, prosecute, obtain, or enforce
any patent, copyright, trademark or other similar right, whether due to mental
or physical incapacity or any other cause, Executive hereby irrevocably
designates and appoints the Company and each of its duly authorized officers,
as his agent and attorney in fact, to act for and in his behalf and stead, to
execute and file any such document and to do all other lawfully permitted acts
to further the prosecution, issuance, and enforcement of patents, copyrights,
trademarks, or other rights of protection with the same force and effect as if
executed and delivered by Executive.

8.             Assignment; Successors.

As
used in this Agreement, “Company” and “Group” shall mean as defined above and
any successor (whether direct or indirect, by purchase, merger, consolation or
otherwise) to all or substantially all of the business and/or assets of the
Company or the Group or which otherwise becomes bound by all the terms and
provisions of this Agreement by operation of law.

                This Agreement is a personal
contract and, except as specifically set forth herein, or by law, Executive’s
rights and obligations hereunder may not be sold, transferred, assigned, pledged
or hypothecated by Executive.  This
Agreement shall be binding upon Executive, and shall inure to the benefit of
his heirs, executors and administrators, and upon the Company, its successors
and assigns.

The rights and obligations of the Company hereunder
may, in whole or in part, be sold, transferred or assigned by the Company to
any affiliated or successor corporation; provided, however, that
any such transfer will not relieve the Company of its obligations hereunder.

9.             Notice.  For the
purposes of this Agreement, notices, demands and all other communications
provided for in this Agreement shall be in writing and shall be deemed to have
been duly given when delivered or (unless otherwise specified) ten (10) days
after having been mailed by certified or registered mail, return receipt
requested, postage prepaid, addressed as follows:

If to the Executive:

167
Thorndike st.

Brookline,
MA 02446

If to the Company:

3 University Plaza Suite 600 Hackensack NJ

or
to such other address as any party may have furnished to the other in writing
in accordance therewith, except that notices of change of address shall be
effective only upon receipt.

10.           Choice of Law.  This Agreement and the
legal relations between the parties hereto shall be governed by and in accordance
with the laws of the
State of Israel.

11.           Counterparts.  This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

12.           Waiver. 
Failure to insist upon strict compliance with any of the terms,
covenants or conditions hereof shall not be deemed a waiver of such term,
covenant or condition, nor shall any waiver or relinquishment of any right or
power hereunder at any one or more times be deemed a waiver or relinquishment
of such right or power at any other time or times.

13.           Miscellaneous.  No provision of this Agreement may be
modified, waived or discharged unless such waiver, modification or discharge is
agreed to in writing signed by the Executive and the Company.

14.           Validity.  The invalidity or unenforceability of any
provision or provisions of this Agreement shall not affect the validity or
enforceability of any other provision of this Agreement, which shall remain in
full force and effect.  Upon
determination that any term or other provision is invalid, illegal or incapable
of being enforced, this Agreement shall be modified so as to effect the
original intent of the parties as closely as possible to the fullest extent
permitted by applicable law.

15.           Entire
Agreement.  This Agreement
sets forth the entire agreement of the parties hereto in respect of the subject
matter contained herein and supersedes all prior agreements, promises,
covenants, arrangements, communications, representations or warranties, whether
oral or written, by any officer, employee or representative of the Company or
any party hereto;  Any modifications to
this Agreement can only be made in writing signed by the Executive and an
appropriate Company Officer.

IN WITNESS WHEREOF, the parties have
executed this Agreement on the date first above written.

	
  

  	
   

  	
  Ness Technologies, Inc.

  	 

	
   

  	
   

  	
   

  	 

	
  DATE: March 12,
  2007

  	
   

  	
  BY:

  	
  /s/ AHARON FOGEL

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Aharon Fogel

  	 

	
   

  	
   

  	
  Title:

  	
  Chairman of the
  Board

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  /s/ ISSACHAR GERLITZ

  	 

	
   

  	
   

  	
  Name:

  	
  Issachar Gerlitz

  	 

	
   

  	
   

  	
  Title:

  	
  Executive Vice President

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  The Executive

  	 

	
   

  	
   

  	
   

  	 

	
  DATE: March 12,
  2007

  	
   

  	
   

  	
  /s/ OFER SEGEV

  	 

	
   

  	
   

  	
  Ofer Segev

  	 

										

 

 

EXHIBIT
A

Executive Option
Agreement

NESS TECHNOLOGIES
INC.

OPTION
AGREEMENT

Made as of the 12 day
of March, 2007

	
  BETWEEN:

  	
   

  	
  Ness Technologies Inc., a Delaware Corporation

  
	
   

  	
   

  	
  having offices at Kiryat
  Atidim, Tel Aviv, Israel

  
	
   

  	
   

  	
  (hereinafter, the “Company”)

  
	
   

  	
   

  	
   

  	
  on the one part

  
	
   

  	
   

  	
   

  
	
  AND:

  	
   

  	
  Name: Ofer Segev

  
	
   

  	
   

  	
  I.D. No.

  	
   

  	
   

  
	
   

  	
   

  	
  (hereinafter the “Optionee”)

  
	
   

  	
   

  	
   

  	
  on the other part

  
							

 

WHEREAS                                 The
Company is in the process of drafting and finalizing the 2007 option plan that
will be brought for approval to the Company’s Board of Directors and to the
Company’s stockholders at the upcoming stockholders meeting and which will, in
the relevant aspects, not differ materially from the Company’s 2003 Israeli
Share Option Plan (the “ISOP”)
attached as Exhibit A hereto,
forming an integral part hereof, and such new 2007 option plan, once approved
(the “2007 Plan”), will replace the ISOP and will be attached hereto as Exhibit
A; and -

WHEREAS                                 The
Company intends, subject to the approval of the Board, (to grant to the
Optionee Options to purchase Shares of the Company under the 2007 Plan, and the
Optionee has agreed to receive such grant, subject to all the terms and
conditions as set forth in the 2007 Plan and as provided herein.

NOW, THEREFORE,
it is agreed as follows:

1.         Preamble
and Definitions

1.1                                           The preamble to this
agreement constitutes an integral part hereof.

1.2                                           Unless otherwise
defined herein, capitalized terms used herein shall have the meaning ascribed
to them in the ISOP and, once the 2007 Plan is approved as required by
applicable law, the meaning ascribed to them or to equivalent terms in the 2007
Plan.

1.3                                           Once the 2007 Plan is
approved as required by applicable law, all references to sections in the ISOP
or to the ISOP will be deemed to be replaced by references to

                                                          the comparable
sections of the 2007 Plan or to the 2007 Plan.

2.         Grant
of Options

2.1                                           The Company hereby
grants the Optionee the number of Options set forth in Section 1 of Exhibit B attached hereto and forming
an integral part hereof (the “Options”), each Option  shall be exercisable for one common share of
the Company, par value 0.01$ per share, taken from the total number of shares
reserved for purposes of the 2007 Plan in the Company’s authorized capital (the
“Shares”), at a price per
Share set forth in Section 2 of such Exhibit B (the “Purchase Price”), on the terms and subject
to the conditions hereinafter provided.

                                                          The Option Price is
stated and will be paid in U.S. dollars.

2.2                                           The Optionee is aware
that the Company intends to issue additional shares, options and other
instruments convertible into shares in the future to various entities and
individuals, as the Company in its sole discretion shall determine.

3.      Period of Options and Conditions of
Exercise

3.1                                           The term of this
Option Agreement shall commence on the date hereof (the “Date of Grant”) and shall terminate at the
Expiration Date (as defined in Section 2.12 in the ISOP and as set forth in
Section 3 of Exhibit
B),
or at any other time at which the Options expire pursuant to the terms of the
ISOP or pursuant to this Option Agreement.

3.2                                           Once vested in
accordance with Exhibit
B,
Options may be exercised by the Optionee in whole or at any time or in part
from time to time,  prior to the
Expiration Date, and provided that, subject to the provisions of Section 10.5
of the ISOP, the Optionee is an employee or providing services to the Company
or any of its Affiliates at all times during the period beginning with the
granting of the Options through the relevant vesting date and ending upon the
date of exercise.

3.3                                           The Options may be
exercised only to purchase whole Shares, and in no case may a fraction of a
Share be purchased. If any fractional Shares would be deliverable upon
exercise, such fraction shall be rounded up to the nearest whole number in the
event it equals one-half or more, or otherwise rounded down, to the nearest
whole number.

3.4                                           The vested Options, to
the extent not previously fully exercised, will be redeemable as described in Exhibit B upon receipt by the Company
of a written request by the Optionee.

4.                            Change of Control

Notwithstanding
anything to the contrary in Section 9.5 of the ISOP and in addition thereto, in
the event of a Change in Control as described in Section 9.5 of the ISOP, the
following shall occur: Vesting Dates shall be accelerated so that any unvested
Option shall 

be
immediately vested in full as of the date which is ten (10) days prior to the
effective date of the Change in Control, and the Committee shall notify the
Optionee that the unexercised Options are fully exercisable for a period of ten
(10) days from the date of such notice, and that any unexercised Options shall
terminate upon the expiration of such period.

5.         Vesting;
Period; Expiration

Subject
to the provisions of the ISOP, Options shall vest and become exercisable
according to the Vesting Dates set forth in Exhibit B hereto.

All
unexercised and unredeemed Options granted to the Optionee shall terminate and
shall no longer be exercisable on the Expiration Date, as set forth in Exhibit B hereto and as described in
Section 2.12 of the ISOP.

6.         Exercise
of Options

6.1                                           Options
may be exercised in accordance with the provisions of Section 10.1 of the ISOP.

6.2                                           In
order for the Company to issue Shares upon the exercise of any of the Options,
the Optionee hereby agrees to sign any and all documents required by any
applicable law and/or by the Company’s incorporation documents. The Optionee
further agrees that in the event that the Company and its counsel deem it
necessary or advisable, in their sole discretion, the issuance of Shares may be
conditioned upon certain representations, warranties, and acknowledgments by
the Optionee.

6.3                                           The
Optionee acknowledges that the Company may transfer the administration of the
options system to an independent contractor at its discretion (and he
undertakes to follow the rules and practices of such contractor regarding the
exercise of his options (currently Tamir Fishman).

6.4                                           The
Company shall not be obligated to issue any Shares upon the exercise of an
Option if such issuance, in the opinion of the Company, might constitute a
violation by the Company of any provision of law.

6.5                                            Each
Option shall be subject to the further requirement that, if at any time the
Board (or the Committee) shall determine in its sole discretion that the
consent or approval of any governmental regulatory body, is necessary as a
condition of, or in connection with, the granting of such Option or the
issuance of Shares thereunder, such Option may not be exercised in whole or in
part, unless such consent or approval shall have been affected or obtained free
of any conditions not acceptable to the Board or the Committee.

7.         Restrictions
on Transfer of Options and Shares

7.1                                           Notwithstanding
anything to the contrary set forth in the ISOP or herein, the Company intends
to use its best efforts to register the Shares underlying the Options pursuant
to the Securities Act of 1933 using a registration statement on Form S-8.
However, even following the effectiveness of such registration, the transfer of
Options and the transfer of Shares to be issued upon exercise of the Options
shall remain subject to various other limitations set forth in the ISOP and in
the Company’s incorporation documents, in any shareholders’ agreement to which
the holders of ordinary shares of the Company are bound or in or in any
applicable law including securities law of any jurisdiction.

This Section shall not constitute an undertaking by
the Company to register the Shares as aforementioned within a certain period of
time and the Board may choose to postpone or otherwise delay the registration
if, in its sole discretion, such delay or postponement is advisable to the
Company.

7.2           With
respect to any Approved 102 Option, subject to the provisions of Section 102 of
the Income Ordinance (New Version), 1961, and any rules or regulation or orders
or procedures promulgated thereunder, an Optionee shall not sell or release
from trust any Share received upon the exercise of an Approved 102 Option
and/or any share received subsequently following any realization of rights,
including without limitation, bonus shares, until the lapse of the Holding
Period required under Section 102 of the Ordinance. Notwithstanding the above,
if any such sale or release occurs during the Holding Period, the sanctions
under Section 102 of the Ordinance and under any rules or regulation or orders
or procedures promulgated thereunder shall apply to and shall be borne by such
Optionee.

7.3                                           With
respect to Unapproved 102 Option, if the Optionee ceases to be employed by the
Company or any Affiliate, the Optionee shall extend to the Company and/or its
Affiliate a security or guarantee for the payment of tax due at the time of
sale of Shares, all in accordance with the provisions of Section 102 and the rules,
regulation or orders promulgated thereunder.

7.4                                           The
Optionee acknowledges that in the event additional shares of the Company shall
be registered for trading in any public market, the Optionee’s right to sell
Shares may be subject to limitations (including a lock-up period), as will be
requested by the Company or its underwriters, and the Optionee unconditionally
agrees and accepts any such limitations.

The Optionee acknowledges that in order to enforce the
above restriction, the Company may impose stop-transfer instructions with
respect to the exercised Shares.

7.5                                           The
Optionee shall not dispose of any Shares in transactions which violate, in the
opinion of the Company, any applicable laws, rules and regulations or any lock
up imposed by the Company.

7.6                                           The
Optionee agrees that the Company shall have the authority to imprint upon the
certificate or certificates representing the Shares such legends referring to
the foregoing restrictions, and any other applicable restrictions as it may
deem appropriate (which do not violate the Optionee’s rights according to this
Option Agreement).

7.7                                           The
Company intends to register the Shares underlying the Options on a Form S-8 to
be filed with the Securities and Exchange Commission pursuant to the U.S.
Securities Act of 1933, as amended.

7.8                                           With
respect to any person subject to the reporting requirements of Section 16(a) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (a “Reporting
Person”), transactions under the ISOP are intended to comply with all
applicable conditions of Rule 16b-3 under the Exchange Act.  To the extent any provision of the ISOP or
any action by an authority under the ISOP fails to so comply, such provision or
action shall, without further action by any person, be deemed to be
automatically amended to the extent necessary to effect compliance with Rule
16b-3, provided that if such provision or action cannot be amended to effect
such compliance, such provision or action shall be deemed null and void, to the
extent permitted by law and deemed advisable by the appropriate authority.  Each Option to a Reporting Person under the
ISOP shall be deemed issued subject to the foregoing qualification.

 8.        Taxes; Indemnification

8.1                                           Any
tax consequences arising from the grant or exercise of any Option, from the
payment for Shares covered thereby, from the redemption of the Options, from
the payment of the additional payment as set forth in Section 4 herein or from
any other event or act (of the Company and/or its Affiliates, the Trustee or
the Optionee), hereunder, shall be borne solely by the Optionee. The Company
and/or its Affiliates and/or the Trustee shall withhold taxes according to the
requirements under the applicable laws, rules, and regulations, including
withholding taxes at source. Furthermore, the Optionee hereby agrees to
indemnify the Company and/or its Affiliates and/or the Trustee and hold them  harmless against and from any and all
liability for any such tax or interest or penalty thereon, including without
limitation, liabilities relating to the necessity to withhold, or to have
withheld, any such tax from any payment made to the Optionee.

8.2                                         The Optionee
will not be entitled to receive from the Company and/or the Trustee any Shares
allocated or issued upon the exercise of Options prior to the full payments of
the Optionee’s tax liabilities arising from Options which were granted to him
and/or from the Shares issued upon the exercise of Options. For the avoidance
of doubt, neither the Company nor the Trustee shall be required to release any
share certificate to the Optionee until all payments required to be made by the
Optionee have been fully satisfied.

8.3                                           The
receipt of the Options and the acquisition of the Shares to be issued upon the
exercise of the Options may result in tax consequences. THE OPTIONEE IS ADVISED
TO CONSULT A TAX ADVISER WITH RESPECT TO THE TAX CONSEQUENCES OF RECEIVING OR
EXERCISING THIS OPTION OR DISPOSING OF THE SHARES.

8.4                                           With
respect to Approved 102 Options, the Optionee hereby acknowledges that he is
familiar with the provisions of Section 102 and the regulations and rules
promulgated thereunder, including without limitations the type of Option
granted hereunder and the tax implications applicable to such grant. The
Optionee accepts the provisions of the trust agreement, attached as Exhibit C hereto, and agrees to be bound by
its terms.

8.5                                           The
Optionee hereby acknowledges that the special tax treatment afforded to him
pursuant to Section 102 and the regulations and rules promulgated thereunder, if
any, shall not apply to the
redemption or the additional payment provided for in Section 4 herein and on Exhibit B hereto.

9.                  Miscellaneous

9.1                                           No Obligation to Exercise Options. The grant and acceptance of these Options imposes no obligation on the Optionee to
exercise any or all of the Options.

9.2                                           Confidentiality.  The
Optionee shall regard the information in this Option Agreement and its exhibits
attached hereto as confidential information and the Optionee shall not reveal its contents to anyone except when
required by law or for the purpose of gaining legal or tax advice.

9.3                                           Continuation of Employment or Service. 
Neither the ISOP nor this Option Agreement shall impose any obligation
on the Company or an Affiliate
to continue the Optionee’s employment or service and nothing in the ISOP or in
this Option Agreement shall confer upon the Optionee any right to continue in
the employ or service of the Company and/or an Affiliate or restrict the right
of the Company or an Affiliate to terminate such employment or service at any
time.

9.4                                           Entire Agreement. Subject to the provisions of the ISOP, to
which this Option Agreement is subject, this Option Agreement, together with
the exhibits hereto, constitute the entire agreement between the Optionee and
the Company with respect to Options granted hereunder, and supersedes all prior
agreements, understandings and arrangements, oral or written, between the
Optionee and the Company with respect to the subject matter hereof.

9.5                                           Failure to Enforce - Not a Waiver. The failure of any party to enforce at any
time any provisions of this Option Agreement or the ISOP shall in no way be
construed to be a waiver of such provision or of any other provision hereof.

9.6                                           Provisions
of the ISOP. The Options provided for herein are granted pursuant to the
ISOP and said Options and this Option Agreement are in all respects governed by
the ISOP and subject to all of the terms and provisions of the ISOP.

Any interpretation of this Option Agreement will be
made in accordance with the ISOP but in the event there is any contradiction
between the provisions of this Option Agreement and the ISOP, the provisions of
the Option Agreement will prevail.

9.7                                           Binding
Effect. The ISOP and this Option Agreement shall be binding upon the heirs,
executors, administrators and successors of the parties hereof.

9.8                                           Notices.
All notices or other communications given or made hereunder shall be in writing
and shall be delivered or mailed by registered mail or delivered by email or
facsimile with written confirmation of receipt to the Optionee and/or to the
Company at the addresses shown on the letterhead above, or at such other place
as the Company may designate by written notice to the Optionee. The Optionee is
responsible for notifying the Company in writing of any change in the Optionee’s
address, and the Company shall be deemed to have complied with any obligation
to provide the Optionee with notice by sending such notice to the address
indicated below.

	
  Company’s Signature:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Name: Ilan Rotem

  	
   

  	
  Hadas Halbreich

  
	
  Position:
  Secretary & General Counsel

  	
   

  	
  Compensation and Benefits Manager

  
	
  Signature:

  	
   

  	
   

  	
   

  	
   

  	
   

  
						

 

I, the undersigned, hereby acknowledge receipt of a
copy of the ISOP and accept the Options subject to all of the terms and provisions
thereof. I have reviewed the ISOP and this Option Agreement in its entirety,
have had an opportunity to obtain the advice of counsel prior to executing this
Option Agreement, and fully understand all provisions of this Option Agreement.
I agree to notify the Company upon any change in the residence address
indicated above. I am aware that the Options granted to me are intended to be
granted pursuant to the terms of the 2007 Plan.

	
  

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Date

  	
   

  	
  Optionee’s Signature

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Attachments:

  	
  Exhibit
  A:

  	
   

  	
  Ness Technologies Inc. 2003 Israeli Share Option
  Plan (to be replaced by the 2007 

  
	
   

  	
   

  	
   

  	
  option
  plan)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Exhibit
  B:

  	
   

  	
  Terms of the Option

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Exhibit
  C:

  	
   

  	
  Trust Agreement

  	
   

  
									

 

 

EXHIBIT
B

Terms of
the Option

	
  1.

  	
  Number of Options granted:

  	
   

  	
  100,000

  
	
  2.

  	
  Price per Share:

  	
   

  	
  NASDAQ closing price on March 15, 2007

  
	
  3.

  	
  Expiration Date:

  	
   

  	
  31.12.2011

  
	
  4.

  	
  Date of Grant:

  	
   

  	
  Upon the approval by the Company’s shareholders

  
	
  5.

  	
  Vesting and Exercise dates as follows:

  	
   

  	
   

  

 

	
  Percentage of
  the Optionee’s tota

  number of Options

  	
   

  	
  Vesting Date

  
	
  33 1/3%

  	
   

  	
  16.3.2008

  
	
  33 1/3%

  	
   

  	
  16.3.2009

  
	
  33 1/3%

  	
   

  	
  16.3.2010

  

 

	
  Signatures

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  The Optionee

  	
   

  	
  the CompanyExhibit 10.31

Employment Contract

NESS
Slovensko, a.s.

with its registered seat at Na Hrebienku 31, Bratislava 811 02

Identification No. 00 603 783, VAT No.: 2020486732

registered in the
Commercial Register of the District Court Bratislava I, Section Sa, Insert 89/B,

acting through Milan Slanina and Vlastimil Daníček, members of the board of directors

(hereinafter the
“Employer”)

of the one part

and

Ivan
Hruška

Permanently residing at Kuzmányho 7, 040 01 Košice,

birth index no.: 590904/6891

(hereinafter the
Employee)

of the other parts

have entered into
this Employment Contract pursuant to Section 42 et seq. of Act No. 311/2001

Coll., the Labour Code

In consideration of their obligations set forth
herein and wishing to be bound hereby, the parties have agreed as follows:

1.                 RECITALS

1.1.                 The
parties hereby establish an employment relationship between the Employee and
the Employer.

2.                 SUBJECT
OF THE CONTRACT

2.1.                 The
subject of this Contract is the regulation of the terms of performance of the
Employee’s work for the Employer.

3.                 WORK
TYPE

3.1.                 The
Employer hereby employs the Employee as the President of Ness Europe focusing
on the consolidation of NESS Slovensko, a.s.

3.2.                 Detailed
specification of the type of work under the previous paragraph is set forth in
the annex hereto, which is an integral part of this Contract. The Employee
acknowledges that the performance of work for the Employer requires maximum
flexibility in the performance of individual work tasks.

4.                 PLACE
OF PERFORMANCE OF THE WORK

4.1.                 The
place of performance of the work is Košice. The Employer may send the Employee
to a business trip for the necessary period.

4.2.                 At
the same time, the Employee has been notified that a major part of the work
specified in Article 3 above is performed at the operating facilities of
customers or in other offices of the Employer and that the Employee will work
at such premises if necessary for the performance of his work tasks.

5.                 START
DATE

5.1.                 The
start date of the Employee’s work has been agreed on 1 January 2007.

5.2.                 This
date is the date of the establishment of a formal relationship between the
Employee and the Employer.

6.                 DURATION
OF THE EMPLOYMENT AND NOTICE PERIOD

6.1.                 The
employment relationship has been agreed for an unlimited period of time

6.2.                 A
6-month notice period has been agreed pursuant to Section 62 of the
Labour Code, beginning with the first day of the calendar month following the
service of the notice.

7.                 WORKING
TIME AND VACATION

7.1.                 It
has been agreed that the weekly working time shall amount to 40 hours (in
words: forty hours) a week Monday to Friday, with an uneven work schedule. The
Employee shall be entitled every working day to a one-hour meal break. In
exceptional cases in which the Employee performs work at a customer’s premises,
the work can be scheduled differently and adjusted to the possibilities of
performance of work at the customer’s premises. The Employer may order overtime
work to the Employee to the extent permitted by the law.

7.2.                 The
parties have agreed that the Employee is entitled to vacation for a period
which is five days longer than the minimum statutory vacation entitlement.

7.3.                 The
time when the Employee will take vacation shall be specified by the Employer in
order to ensure reasonable balance between the Employee’s interests and the
business interests of the Employer.

8.                 BASIC
WAGE, NON-MANDATORY AND VARIABLE WAGE COMPONENTS AND PAY  DAYS

8.1.                 The
Employee is entitled to a wage for his work performed for the Employer in
accordance with a wage assessment, which is attached hereto as an integral part
of this Contract.

8.2.                 The
amount of the monthly wage covers any overtime work, as the wage also contains,
pursuant to Section 121(2) of the Labour Code, also remuneration for
overtime work, and the Employee does not become entitled by virtue thereof to
any further wage or time-off.

8.3.                 The
wage is payable retroactively by the 15th day of the following calendar month.

9.                 EMPLOYER’S
RIGHTS AND OBLIGATIONS

9.1.                 Since
the date of establishment of the employment relationship, the Employer is
obliged to allocate to the Employee work in accordance with the provisions
hereof, to create for the Employee all conditions necessary for successful
performance of the determined work tasks and to comply with all other duties
prescribed by the Employer by applicable laws.

9.2.                 During
the existence of the employment relationship, the Employer shall provide to the
Employee an automobile for business and private purposes. Fuel costs shall be
covered by the Employer, except for fuel consumed by the Employee on private
trips, which shall be covered by the Employee.

9.3.                 During
the existence of the employment relationship, the Employer shall provide to the
Employee working aids and instruments necessary for the performance of the
Employee’s work tasks, which shall be further specified in the wage assessment
or in another corporate document.

9.4.                 During
the existence of the employment relationship, the Employer shall pay health
insurance for the Employee and his family members.

9.5.                 During
the existence of the employment relationship, the Employer shall pay IAPA
insurance for the Employee.

9.6.                 The
Employer shall withhold from the Employee’s wages all amounts prescribed by
applicable laws.

10.          EMPLOYEE’S
RIGHTS AND OBLIGATIONS

10.1.          The
Employer undertakes to fully use the agreed working time for the performance of
assigned work tasks, to perform these tasks in person, diligently,
professionally, in good quality and in time, to work in accordance with his
capacities, knowledge and abilities in compliance with the requirements of the
current working rules and directives issued by the Employer, or resulting
from the nature of the performed work or from the Employee’s position. Any
breach of these requirements shall be deemed a breach of the work discipline. A
serious breach of work discipline may result in termination of the employment
relationship with the Employee.

10.2.          The
Employer shall adhere to the instructions of his supervisors and of the
Employer and undertakes to comply with principles of cooperation with the other
employees.

10.3.          The
Employer shall comply with applicable laws relating to the work performed by
him and with all other regulations with which he has been familiarized by the
Employer.

10.4.          The
Employee shall duly manage any means entrusted to him for the performance of
the agreed work type and shall safeguard and protect the Employer’s property
from any damage, loss, destruction and misuse. Any damage to entrusted means
shall be reported by the Employee to the Employee in the pre-determined manner.
In the case of termination of the employment, the Employee shall return to the
Employer all entrusted means in the condition in which took them over, save for
ordinary wear and tear.

10.5.          If
the Employee is entrusted cash, stamps, merchandise, materials or other
valuables for the performance of the agreed work type, the Employee undertakes
to execute with the Employer an agreement on material liability pursuant to
Section 182 of the Labour Code, and to confirm to the Employer in writing
that he has taken over such valuables. The Employer may determine that the
execution of such agreement on material liability is a condition of the
Employee’s eligibility for the performance of the work.

10.6.          In
the case that the Employee is entrusted, as determined by the Employer, certain
things for the performance of the agreed work type (e.g. a computer, mobile
phone, automobile etc.), the Employee undertakes to issue to the Employer,
pursuant to Section 185 of the Labour Code, a written acknowledgement of
acceptance of such valuables.

10.7.          The
Employee agrees that he may be sent to a business trip and undertakes to also
perform his work tasks at such trip.

11.          PERFORMANCE
OF OTHER GAINFUL ACTIVITY

11.1.          The
Employee undertakes not to perform, without prior express written consent of
the Employer, directly or indirectly, any other activities beside this agreed
employment relationship, which would be identical with or similar to  the activities representing the object of
business activities of the Employer, whether alone or for another employer.
This obligation shall stay in force for 6 months after the termination of his
employment. The Employee undertakes to refrain from any activities that are in
conflict with the Employer’s interests; inter
alia, the Employee undertakes to refrain from taking any steps that
may result in a loss of the Employer’s employees or customers. This obligation
shall stay in force for 1 year after the termination of his employment.

11.2.          The
Employee undertakes to defend in any circumstances the good name, prosperity
and justified interests of the Employer and to use all acquired knowledge in
the Employer’s favour. 

The Employee is
obliged to represent adequately and appropriately the Employer during the
performance of the Employee’s work.

11.3.          Any
breach of a duty agreed in this Article 11 is deemed to be a serious
breach of work discipline pursuant to Section 68(1)(h) of the Labour Code,
due to which the Employer may terminate the employment relationship with
immediate effect.

12.          COPYRIGHT

12.1.          If
the Employee creates as an author or co-author, for the purpose of performance
of duties arising to him from his employment, a work pursuant to the Copyright
Act (hereinafter the “Employee’s Work”), the Employer shall be the original
holder of the right to use such work and to grant permission with each use
thereof in all forms listed in Article 18(2) of Act No. 618/2003
Coll. on Copyright and Related Rights (hereinafter the “Copyright Act”), and
shall be entitled to carry out in its name and on its account all proprietary
rights relating to such work subject to the terms of the Copyright Act. During
the exercise of proprietary rights to the Employee’s Work by the Employer, the
Employee, as the author of such work, shall refrain from the exercise of the
proprietary rights to such work. The author’s fee to which the Employee shall
be entitled due to the use and dissemination of the work and to the exercise of
other proprietary rights thereto by the Employer is included in the
remuneration which is paid to the Employee by the Employer hereunder. The
Employer’s rights arising from the creation of an author’s work by the Employee
shall not be affected by any termination of the Employee’s employment with the
Employer.

12.2.          If
the Employee creates during the performance of his work tasks arising from the
employment a product which meets the criteria of an invention or an industrial
design, all legal relations between the Employee and the Employer resulting
therefrom shall be governed by applicable laws; the fee to which the Employee
shall be entitled due to the creation of such invention or industrial design is
included in the remuneration paid to the Employee by the Employer under this
Contract.

12.3.          An
employee who has created an invention during the performance of tasks arising
from his employment (hereinafter the “author”) shall notify the Employer
thereof in writing without undue delay and shall hand over to the Employer all
basic data and materials necessary for the assessment of such invention. The
Employer may claim from the author in writing the right to the solution within
three months after the notice referred to in the previous sentence. An employee
who has created an industrial design the performance of tasks arising from his
employment shall notify the Employer thereof in writing without undue delay and
shall hand over to the Employer at the same time a drawing of the design.

12.4.          If
the Employee creates during the performance of his work tasks arising from the
employment a product which meets the criteria of intellectual property
protected by the law, all legal relations between the Employee and the Employer
resulting therefrom shall be governed namely by the principles set forth in
Articles 12.1. and 12.2., particularly with regard to the Employer’s
right to use such product and the fee for creation of such product, and by
applicable laws.

12.5.          If
the Employee creates, based on the experience and/or materials acquired during
the existence of this employment, the Employee undertakes to offer this product
for use first of all to the Employer under terms similar to the terms set forth
herein.

13.                    OBLIGATION
OF CONFIDENTIALITY

13.1.          The
Employee undertakes to keep confidential all facts learned by him in connection
with his performance of work for the Employer which have the nature of business
secret and the disclosure of which to third parties could affect in any way
whatsoever business interests and/or good name of the Employer and/or his
business partners and clients. Confidential information includes, without
limitation, all information about customer databases, data files and
technologies, as well as all information relating to suppliers, customers,
individuals or companies related economically or personally with them and any
third parties maintaining any business relations with the Employer.

13.2.          The
Employee may not disclose to the public communication media any information
relating to the Employer, its business partners or business interests, unless
granted prior consent of the Employer.

13.3.          The
Employee may not make copies or excerpts from any working materials and basic
data in any form, included databases and intangible data, for purposes other
than the Employer’s purposes. In the case of termination of his employment, the
Employer shall return to the Employer under a protocol all working materials
and data and any copies thereof.

13.4.          A
breach of any duty agreed in this Article shall be deemed to be a serious
breach of work discipline within the meaning of Section 68(1)(b) of the
Labour Code, due to which the Employer shall be entitled to terminate his
employment with immediate effect.

13.5.          The
Employee’s obligation to keep confidential and protect confidentiality of
information acquired from the Employer during the existence of the employment
relationship shall survive for three years, in the above-defined scope, any
termination of the employment.

14.                    PROTECTION
OF PERSONAL DATA

14.1.          The
Employee agrees with processing his personal data by the Employer subject to
the terms defined below.

14.2      The Employer may only process such data the
content and scope of which corresponds to the purpose of their processing.

14.3.          In
order to maintain the personal data up-to-date, the Employer shall correct or
destroy personal data which have become outdated during their processing.

14.4.          The
Employer shall be liable for personal data security by protecting them from
theft, loss, damage, unauthorized access, change or dissemination.

14.5.          The
Employer shall keep confidential all processed personal data and the
termination of their processing.

14.6.          Upon
the Employee’s request, the Employer shall provide to the Employee within
30 days any information related to the processing of personal data,  shall correct all data that are incorrect or
that have become outdated during their processing, if so required by his
purpose, and shall liquidate all personal data the purpose of which has been
met.

14.7.          The
Employee represents that he agrees with transfer of his personal data abroad;
the liability for security of such transferred data rests with the Employer.

14.8.          The
Employee further agrees that the Employer hands over his personal data to
companies based in other countries that are members of the same holding as the
Employer within the meaning of Act No. 513/1991 Coll., the Commercial
Code, as amended, and in accordance with the relevant corporate regulation of
the Employer relating to personal data protection if its employees, and in the
following scope: name, surname, permanent residence address, wages,
professional knowledge and experience of the Employee.

15.                    FINAL
PROVISIONS

15.1.          Any
rights and obligations of the Employer and the Employee not expressly regulated
herein shall be governed by generally binding Slovak laws, particularly by the
Labour Code No. 311/2001 Coll., as amended, or by corporate regulations of
the Employer.

15.2.          This
Contract represents the entire agreement of the parties regarding the subject
matter hereof and supersedes all prior verbal or written agreements of the
parties

15.3.          This
Contract may be amended solely by written agreement of the parties.

15.4.          This
Contract is executed in two (2) counterparts, one (1) for each of the
parties.

Annexes:

Detailed job description

Wage assessment

The
parties represent that they have read this Contract and agreed with its
content, IN WITNESS WHEREOF they attach their signatures below:

	
  Bratislava, 29
  December 2006

  	
   

  	
  Bratislava, 29 December 2006

  
	
  /s/ MILAN
  SLANINA

  	
   

  	
  /s/ IVAN
  HRUSKA

  
	
  Milan Slanina, member of the board of directors

  	
   

  	
  Ivan Hruška

  
	
  /s/ VLASTIMIL DANÍčEK

  	
   

  	
   

  
	
  Vlastimil Daníček,
  member of the board of directors

  	
   

  	
   

  

 

DETAILED JOB DESCRIPTION

Setting strategic business plans of the Employer, also
in relation to other companies of the same holding as the Employer based in
Europe, and supervision over the implementation of these plans.

Setting principles of the Employer’s marketing
activities, also in relation to other companies of the same holding as the
Employer based in Europe.

Ensuring integration of newly acquired subsidiaries of
the Employer into the overall structure of the Employer, also in relation to
other companies of the same holding as the Employer based in Europe.

Ensuring proper functioning of financial processes,
human resources activities and purchases of the Employer and supervision over
such processes, also in relation to other companies of the same holding as the
Employer based in Europe.

Ensuring proper operation of corporate controlling
mechanisms of the Employer, quality and methodology management, also in
relation to other companies of the same holding as the Employer based in
Europe.

SALARY
DETERMINATION

NESS Slovensko, a.s.

with its registered office
Na Hrebienku 31, Bratislava 811 02

Identification No. 00 603 783, Tax Identification
No. 2020486732

registered in the Commercial Registrer maintained by the District Court of
Bratislava I, Section Sa., Insert 89/B

acting by Milan Slanina and Vlastimil Daníček, members of the Board of Directors

SALARY
DETERMINATION

Ivan
Hruška

residing at Kuzmányho 7, 040 01 Košice, rodné číslo: 590904/6891 as the employee

based on the Labor
contract, Section 8

shall be as of 1st of
January 2007 entitled for the salary in the following amount:

(the salary has been stipulated with respect to the overtime and the
emergency readiness)

1.                 The sum in the
amount of SKK 684.500,- shall be stipulated as a fixed basic monthly wage.

2.                 The sum in the
amount of SKK 456.300,- per month shall be considered as a flexible part
of the wage in case of 100% fulfillment of criteria specified by the company.

3.                 The flexible part
of the wage shall be paid out quarterly on the pay day following the
quarter, as an advanced payment per the first, second and third quarter
maximally to the amount of 50 % from the amount related to the relevant
quarter. The flexible part of the wage shall be paid in case the employee will
fulfill the criteria stipulated for the relevant quarter and it can be supposed
that the employee will fulfill the yearly criteria also.

4.                 Per the fourth
quarter the employee shall be entitled to the settlement of the whole amount of
the flexible part of his wage aliquotly according to the fulfillment of the
criteria specified by the company in the scope of 0%-100% of the flexible
part of the wage. The settlement of the whole amount of the flexible part of
the wage shall be made on the basis of the annual financial
statements being subject to audit, without any undue delay immediately after
them being at disposal.

5.                 The settlement of
the whole flexible part of the wage shall be made on the date of the
termination of the employment also.

The amount of salary shall be each January of the
relevant year reconsidered by the employer based on the results of the
employee, and may be changed, but only on the basis of the agreement of both
sides.

This salary determination shall be counted as the
integral part of the labor contract of the employee and may be changed only
based on the agreement of both sides.

In
Bratislava, on 29.12.2006

	
  /s/ MILAN SLANINA

  	
   

  	
  /s/ IVAN HRUšKA

  
	
  Milan Slanina, member of the board of directors

  	
   

  	
  Ivan Hruška

  
	
  /s/ VLASTIMIL DANÍčEK

  	
   

  	
   

  
	
  Vlastimil Daníček,
  member of the board of directors

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