AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
Exhibit 10.20
AMENDMENT NO. 1
TO
This First Amendment (the “Amendment”), entered into this 23rd day of April 2007,
is to the Employment Agreement (the “Agreement”) entered into the 31st day of December
2006, by and between, Caneum India Private Limited (formerly known as Continuum Systems Private
Limited), a company incorporated under the Companies Xxx, 0000, and having its registered office at
000, Xxxxxx Xxxxx, 000-X, Xxxx Xxxxx, Xxx Xxxxx — 110065, India with its principal place of
business at DLF Supermart 1, Gurgaon, Haryana, (hereinafter referred to as the “Caneum India”,
which expression shall, unless repugnant to the context, include its successors and permitted
assigns) and Xxxxxx Xxxxxxxx, son of Xxxxx Xxxxx Lindorff, age 35, residing at X-00 Xxxxxxxx Xxxx,
XXX Xxxxx 0, Xxxxxxx 122002, Haryana, India (herein after referred to as the “Employee”).
RECITALS:
WHEREAS, on or about December 31, 2006, the parties entered into the Agreement, the purpose of
which was to employee the Employee; and
WHEREAS, the parties desire to amend the Agreement as provided herein;
NOW, THEREFORE, pursuant to §15 of the Agreement, the parties hereto mutually agree to amend
the Agreement as follows:
1. Amendment to Compensation. Paragraph (e) of §5 is hereby added to read as follows:
(e) Stock Options. Caneum India shall grant to Employee ten-year options to
purchase 150,000 shares of common stock of Caneum, Inc., a Nevada, USA, corporation
(“Caneum”) pursuant to Caneum’s 2002 Stock Option/Stock Issuance Plan (the “Plan”), a copy
of which is attached hereto and incorporated herein, subject to vesting at the rate of 1/4 of
the granted options after one year from December 31, 2006, and 1/48th of the granted options
per month thereafter.
2. Remainder of Agreement. Except as amended hereby, the Agreement shall continue to
be, and shall remain, in full force and effect. Except as provided herein, this Amendment shall
not be deemed (i) to be a waiver of, or consent to, or a modification or amendment of, any other
term or condition of the Agreement or (ii) to prejudice any right or rights which Caneum India may
now have or may have in the future under or in connection with
the Agreement or any of the instruments or agreements referred to therein, as the same may be
amended, restated, supplemented or otherwise modified from time to time.
3. Incorporation by Reference. The terms of the Agreement are incorporated herein by
reference and shall form a part of this Amendment as if set forth herein in their entirety.
IN WITNESS WHEREOF, each of the parties hereto has executed this Amendment the respective day
and year set forth below to be effective as of the day and year first written above.
| CANEUM INDIA: | CANEUM INDIA PRIVATE LIMITED |
|||
| Date: April 23, 2007 | By: | /s/ Suki Mudan | ||
| Name: | Suki Mudan | |||
| Title: | Director | |||
EMPLOYEE:
| Date: April 23, 2007 | /s/ Xxxxxx Xxxxxxxx | |||
| Name: | Xxxxxx Xxxxxxxx | |||
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