Playboy Enterprises Inc. Contracts
Sample Business Contracts
Employment Agreement - Playboy Enterprises Inc. and Tony Lynn
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] PLAYBOY ENTERPRISES, INC. INTEROFFICE CORRESPONDENCE DATE: September 12, 1994 ------------------------------------------------------------------- TO: Tony Lynn ------------------------------------------------------------------- FROM: Christie Hefner ------------------------------------------------------------------- SUBJECT: Employment Agreement ---------------------------------------------------------------- ------------------------------------------------------------------------------- Tony, this will confirm our agreement to amend your employment agreement dated May 21, 1992 as follows: 1. The Employment Term will be extended for one additional year (through June 30, 1997). 2. Your Basic Compensation for the additional year will be $525,000. 3. The Profits Base on which your Contingent Compensation will be computed will be $2.35 million. 4. If your employment is terminated by the Company without cause at any time after July 1, 1994, then the amount payable to you under Paragraph 12.D.(iii) of your Employment Agreement on account of such termination shall be a lump sum amount equal to the greater of: (x) if the effective date of such termination is prior to June 30, 1995, the aggregate amount of the annual Basic Compensation otherwise payable to you under your Employment Agreement for the period between the effective date of such termination and July 1, 1996; or (y) if the effective date of such termination is after June 30, 1995 and prior to June 30, 1996, the aggregate amount of the annual Basic Compensation otherwise payable to you under your Employment Agreement for the 12-month period beginning on the first day of the calendar month next following such effective date of such termination; or (z) if the effective date of such termination is after June 30, 1996, the aggregate amount of $525,000. Except as modified above, all of the other terms and conditions of your agreement will remain as is. If this is acceptable to you, please sign, date and return the enclosed copy of this memo. ACCEPTED AND AGREED TO: /s/ Anthony J. Lynn ----------------------- Anthony J. Lynn Date September 15, 1994 -------------------