THINK New Ideas Inc. Contracts
Sample Business Contracts
Employment Agreement - THINK New Ideas Inc. and Ron Bloom
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
THINK NEW IDEAS, INC 45 WEST 36TH STREET, 12TH FLOOR NEW YORK, NY 10018 May 24, 1999 Mr. Ron Bloom 250 Mercer Street D-203 New York, New York 10012 Re: Employment Agreement of June 30, 1996 (the "Employment Agreement") Dear Ron, As you are aware, last fall, the Compensation Committee of the Board of Directors of THINK New Ideas, Inc. (the "Company") commenced review of the compensation packages of the Company's executive officers in an effort to establish a compensation structure going forward that would be mutually acceptable to the Company and its executive officers. Although the process is not yet complete, the Compensation Committee is mindful that your Employment Agreement with the Company expires at the end of this month. Accordingly, and with the understanding that expectations of the Compensation Committee are that your final package will include options, bonuses or other incentives consistent with other executives with similar duties and responsibilities, the Compensation Committee has agreed, subject to your acceptance and agreement, to extend the period of employment of your Employment Agreement for a period of one year commencing July 1, 1999 (the "Extension Period"), at an increased annual salary of $350,000 ($29,166.67 per month). In the event that your employment is terminated by the Company prior to expiration of the one year period for any reason other than for cause (as defined in the Employment Agreement) you will be entitled to receive your monthly compensation for a period of one year following termination. In the event of any termination of your employment with the Company: (i) the non-solicitation provisions shall remain in effect for one year following termination, and (ii) the non-competition provisions shall remain in effect for twelve months following such termination, provided however that the non-solicitation provisions shall not be construed in any way to prohibit your from offering employment to or otherwise employing your personal assistant at any time following termination. The Employment Agreement will remain in effect for the Extension Period unmodified except as specifically set forth herein. Please know that your service and contribution to the Company is sincerely appreciated and that the Compensation Committee intends to continue to work with you to complete a new agreement. Very truly yours, /s/ Kenneth Orton ----------------------------- Kenneth Orton on behalf Of the Compensation Committee AGREED TO AND ACCEPTED /s/ Ronald Bloom ---------------- Ronald Bloom