priceline.com Inc. Contracts
Sample Business Contracts
Employment Agreement [Amendment] - priceline.com Inc. and Richard Braddock
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.
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- More Employment Agreements
AMENDMENT TO EMPLOYMENT AGREEMENT This Amendment, dated June 12, 2000 ("Amendment"), to the Amended and Restated Employment Agreement, dated as of August 15, 1998 ("Employment Agreement") between priceline.com Incorporated, a Delaware corporation ("priceline") and Richard Braddock ("Employee"). WHEREAS, priceline and Employee desire to amend the Employment Agreement to reflect certain changes in Employee's status and duties, as approved by priceline's Board of Directors. NOW THEREFRE, intending to be legally bound thereby, the parties agree as follows: 1. Sections 1 and 2 of the Employment Agreement are hereby amended to read in their entirety as follows: "1. Employment. (a) priceline hereby agrees to employ the Employee, and the Employee hereby agrees to serve, as the Chairman of the Board of Directors of priceline upon the terms subject to the conditions set forth herein. (b) During the Term (as defined herein), the Employee shall serve as the Chairman of the Board of Directors of priceline, shall be an employee of priceline and shall have such responsibilities, duties and authority consistent with such position as may from time to time be determined by the Board of Directors of priceline. (c) During the Term, the Employee shall diligently and faithfully serve priceline and shall devote a substantial portion of his working time and efforts to the business and affairs of priceline at a location in the greater New York metropolitan area. Priceline agrees that the Employee may retain his current position and responsibilities as non-executive Vice Chairman of Walker Digital LLC and may also serve as non-executive Chairman of affiliates of Walker Digital LLC from time to time. 2. Term. Subject to Section 4 hereof, the term of employment by priceline of the Employee pursuant to this Agreement (the "Term") is for a period commencing on August 15, 1998 and terminating on the third anniversary thereof; provided, that the Term shall automatically be extended on the third anniversary and each anniversary thereafter for successive one year terms unless either party gives not less than 180 days' prior notice of termination of the Agreement effective on the next such anniversary." 2. This Amendment shall be effective as of the date hereof and the Employment Agreement, as so amended shall remain in full force and effect. The Employment Agreement, as amended hereby, the Option Agreement and the Confidentiality Agreement (each as defined in the Employment Agreement) constitute the sole and exclusive agreements of the parties with respect to Employee's continuing employment with and obligations to priceline and supersede all prior agreements or arrangements of the parties, whether written or oral, relating to Employee's employment with and obligations to priceline. IN WITNESS WHREOF, the parties hereto have executed this Amendment as of the date first above written. EMPLOYEE /s/ Richard Braddock ------------------------- Richard Braddock PRICELINE.COM INCORPORATED /s/ Daniel H. Schulman ------------------------- Daniel H. Schulman President