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EXHIBIT 10.20
AMENDMENT 2000/2001
TO THE EMPLOYMENT AGREEMENT ("ARBEITSVERTRAG")
Dated January 1st, 1998
between
Xx. Xxxxx Xxxxxxx, Xxxxxxxx 00, 0000 Xxxxxxxxxx
and
SLI Consulting XX, Xxxxxxxxxxxxxxxx 00, 0000 Xxxxxxxxxx ("SLI")
1. Scope
The scope of this amendment is to adjust the remuneration (Section 5
"Gehalt") for the years 2000 and 2001 to the agreed upon level.
In all other respects the terms and conditions of the employment
agreement will continue to be in force.
2. Remuneration 2000
For the year 2000 (January 2, 1000 - December 31, 2000 the parties agree
on the following compensation, which will be applied retroactively,
i.e., the difference between the compensation as set out below and the
compensation paid during 2000 will be transferred to Xx. Xxxxxxx prior
to December 31, 2000, with the exception of the bonus for X0 0000, which
will be paid out in Q1 2001.
2.1 Base Pay
The agreed upon annual base pay is CHF 552'500.--.
2.2 Commission/bonus
In addition the following commission/bonus scheme will be applied.
Xx. Xxxxxxx will be remunerated with 0.3% (3/10 of one percent) of NEON
and SLI EMEA revenues.
The revenues are counted as follows:
EMEA commercial Q1: 5.8 M USD (actuals)
EMEA commercial Q2: 8.8 M USD (actuals)
EMEA commercial Q3: 8 M USD (actuals)
EMEA commercial Q4: 21 M USD (actuals)
Total 43.6 M USD (actuals)
001221 Amendment 2000/2001 page 1
to the Employment Agreement ("Arbeitsvertrag")
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For the purpose of calculating the commission/bonus the following
mechanism will be applied:
The exchange rate is defined as 1.7 CHF/pro USD.
0.3% on CHF 74'120'000. -- yields CHF 222'360. -- as target
commission/bonus for 2000.
The portions related to Q1, Q2 and Q3 of this amount will be transferred
to Xx. Xxxxxxx by December 31, 2000 at latest. The Q4 portion will be
calculated and transferred in Q1 2001.
3. Remuneration 2001
3.1 Base pay
The agreed upon annual base pay is CHF 552'500.--.
3.2 Commission/bonus
Xx. Xxxxxxx will be remunerated with 0.3% (3/10 of one percent) of NEON
and SLI EMEA revenues. As soon as such total revenue exceeds USD 100 M,
an accelerated will be applied in a way that the applicable bonus on
such total revenue is lifted to 0.5% (5/10 of one percent) of any such
revenue.
The commission/bonus will be paid as follows:
- within two weeks of the beginning of a calendar quarter the bonus for
the preceding calender quarter will be paid out, based on actuals. The
bonus for Q4 will be paid out within Q1 of the following year.
- instead of 100% payment in cash of each quarterly bonus. NEON may
choose to pay 90% in cash and 10% in restricted NEON stocks according
to NEON's stock plan.
- commission will be paid out in Swiss Francs (CHF), applying a 1.7
CHF/USD exchange rate.
Date Signature
Xx. Xxxxx Xxxxxxx December 24, 2000 /s/ Xx. Xxxxx Xxxxxxx
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SLI Consulting AG.
Xxxx Forrellan /s/ Xxxx Forrellan
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Xxxxx X. Xxxxxxxxxxxxxx December 22, 2000 /s/ Xxxxx X. Xxxxxxxxxxxxxx
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001221 Amendment 2000/2001 page 2
to the Employment Agreement ("Arbeitsvertrag")
