Exhibit 10.5
FIRST AMENDMENT TO
EMPLOYMENT AGREEMENT
This First Amendment to Employment Agreement (the "Amendment") is entered
into as of January 1, 2006 (the "Effective Date"), by and between Indus
International, Inc. (the "Company"), and ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ (the "Executive").
Executive currently serves as the President and Chief Executive Officer of
the Company, pursuant to the terms of that certain Employment Agreement, dated
as of October 1, 2005, between Executive and the Company (the "Agreement").
Executive and the Company have agreed to amend and restate Section 4 of
this Agreement in the manner set forth in this Amendment;
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged. Executive and the Company hereby
agree as follows:
1. Amendment. Section 4 of the Agreement is hereby deleted and replaced
with the following:
"4. Paid Time Off. Executive will be entitled to paid time off each year
for vacation time, sick leave and personal time in accordance with the
Company's paid time off policy, as such policy is in effect from time to
time, with the timing and duration of specific time off mutually and
reasonably agreed to by the parties hereto. The Company reserves the right
to cancel or change the paid time policy that it offers to Executive at any
time."
2. Full Force and Effect. Except as specifically amended by this Amendment,
the Agreement remains in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the
case of the Company by their duly authorized officers, as of the day and year
first above written.
INDUS INTERNATIONAL, INC.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ Date: 2/1/2006
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Title: Chairman of the Board
EXECUTIVE
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Date: 2/1/2006
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