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Corio - Brett White Amendment Of Change In Control Agreement
EXHIBIT 10.22
Change in Control Agreement Amendment
Effective October 4, 2004, this Amendment amends the Change in Control Agreement (the "Agreement"), entered into as of November 21, 2002 by and between Brett White, an individual (" Executive ") and Corio, Inc., a Delaware corporation (the " Company ").
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Section 1 . Section 1 of the Agreement is hereby deleted in its entirety and replaced with the following:
"1. Benefits Upon a Change in Control . If (i) during the term of this Agreement and while Executive remains an employee of the Company, the Company shall be subject to the consummation of a Change in Control and (ii) within one (1) year following such Change in Control the Company terminates the employment of Executive involuntarily and without Business Reasons or a Constructive Termination occurs, then in such case Executive shall be entitled to receive the following: (A) Executive's base salary and vacation accrued through the Termination Date, (B) vesting of all outstanding stock options and other equity arrangements subject to vesting and held by Executive through the Termination Date that had vested as of the Termination Date, plus acceleration of the greater of (1) one-half of the options and other equity arrangements that remain unvested as of the Termination Date or (2) an additional twelve (12) months of vesting of such options and other equity arrangements, (C) base salary continuance, excluding any rights to a bonus and any payment rights other than base salary, for twelve (12) months after the Termination Date, and (D) to ...
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