Amendment to Offer Letter between Corio, Inc. and George Kadifa (July 15, 2004)
This amendment updates the original offer letter between Corio, Inc. and George Kadifa. Effective July 15, 2004, if Mr. Kadifa is terminated involuntarily without cause, Corio, Inc. will pay him salary continuance for up to twelve months, based on the higher of his actual annual salary or $300,000 per year. However, these payments will stop if he starts a new job during that period. All other terms of the original offer letter remain unchanged.
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 Kadifa
