Sample Business Contracts
Employment Agreement - Interland Inc. and Allen Shulman
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
(Logo Interland) 303 Peachtree Center Avenue Suite 500 Atlanta, GA 30303 www.Interland.com t 800.845.1841 f 404.720.3707 September 10, 2002 Allen Shulman 4608 Smoke Rise Lane Marietta, GA 30062 Re: Promotion Dear Allen: On behalf of Interland, I am pleased to offer you the position of Senior Vice President and Chief Financial Officer & General Counsel. In this role, you will report directly to me. When you assume this new role, you will retain responsibility for both the Legal Department and Corporate Development. This promotion is effective upon the approval of a Board resolution confirming this appointment. I expect this to occur on or about October 8, 2002. The following highlights the essential terms of this promotion: Your base salary will be $9807.69 per bi-weekly pay period based on an annual salary of $255,000.00. Subject to the approval of the Board of Directors you will be granted an option to purchase 100,000 shares of Interland, Inc. stock. This grant will be effective the date the Board of Directors approves the aforementioned resolution. In addition, you will be eligible to participate in Interland's performance based incentive compensation program, where you will have the opportunity to earn a target incentive of up to forty-five percent (45%) of the based salary paid to you during the defined performance period. As we discussed, we will replace your existing six (6) month employment agreement with a twelve (12) month employment agreement. As you know, this letter is not a contract of employment. Further, the length or duration of your employment is not guaranteed. In accordance with our policies, your employment with Interland is on an "at-will" basis, meaning that both you and Interland have the right to end your employment at any time, for any reason, with or without cause or prior notice. I am very excited about the contributions and impact you will have in this new role and look forward to working with you as we take Interland to the next level. Congratulations, /s/ Joel Kocher ------------------- Joel Kocher Chairman and CEO Interland, Inc. I hereby acknowledge receipt of this letter of understanding and accept its terms. By: /s/ Allen Shulman Date: 9/10/02 ---------------------------------- ----------- Allen Shulman