Biogen Idec Inc. Contracts
Sample Business Contracts
Employment Agreement - Biogen Inc. and James L. Vincent
Employment Forms
- Employers can customize an employment agreement that states the salary, benefits, working hours and other important provisions for their new or existing employee.
- Answer simple questions to build a contract with a consultant. Specify the services rendered, when payment is due, as well as IP rights.
- Employers who compensate their sales employees based on commissions can prepare an agreement to reduce misunderstandings by specifying the base salary and how commissions are calculated.
- Companies may offer their business executives a contract that is different from the one provided to their regular employees. Executive employment agreements may be more complex because the compensation structure may include a combination of salary and commissions, provide for bonuses based on sales, stock or other financial targets, and include non-compete, confidentiality and severance provisions.
- Independent sales representatives offer companies the potential to increase the sale of products or services without the burden of increasing headcount. Both parties should understand how commissions are calculated, when commissions will be paid, as well as how the representative will treat confidential information from the company and whether the representative may also sell a competing line of products or services.
- More Employment Agreements
[BIOGEN, INC. LETTERHEAD] March 10, 2000 Mr. James L. Vincent 7 Audubon Road Weston, MA 02193 Dear Jim: This letter will serve as notice that Biogen, Inc. would like to extend your chairmanship of the Board of Directors under the terms of the letter agreement dated November 21, 1996 (the "Letter Agreement") amending your Employment Agreement dated as of September 23, 1985 (the "Employment Agreement"), provided, that, notwithstanding the extension term specified in the Letter Agreement, your chairmanship will continue after the end of the Initial Chairmanship Term on February 14, 2001 until the Annual Meeting to be held in 2004 (the "Extended Term"), unless earlier terminated by your resignation or earlier removal. During the Extended Term, after appointment of a successor Chief Executive Officer, your duties as Chairman will once again consist of those activities specified under Section 1 of the Letter Agreement. All other terms of the Letter Agreement and the Employment Agreement, as amended by the Letter Agreement and this letter, shall apply during the Extended Term. If you agree with extension of your chairmanship on the above terms, please execute this letter and the enclosed copy in the space provided below. Sincerely, Biogen, Inc. Date: March 10, 2000 By: /s/ Roger H. Morley ------------------ ------------------------------- Roger H. Morley Chairman, Compensation and Management Resources Committee Date: March 10, 2000 By: /s/ Harold W. Buirkle ------------------ --------------------------- Harold W. Buirkle Member, Compensation and Management Resources Committee <PAGE> 2 Date: March 10, 2000 By: /s/ Phillip A. Sharp ------------------ ------------------------------- Phillip A. Sharp Member, Compensation and Management Resources Committee Date: March 10, 2000 By: /s/ Mary L. Good ------------------ ------------------------------- Mary L. Good Member, Compensation and Management Resources Committee Acknowledged and agreed /s/ James L. Vincent -------------------------- James L. Vincent Date: March 10, 2000 ---------------------