THINK New Ideas Inc. Contracts
Sample Business Contracts
Employment Agreement - THINK New Ideas Inc. and Larry Kopald
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
July 31, 1997 Mr. Larry Kopald THINK New Ideas, Inc. 8000 Sunset Boulevard, Penthouse East Los Angeles, California 90046 Re: Employment ---------- Dear Mr. Kopald: This is to confirm the agreement reached as of May 31, 1997 between you and THINK New Ideas, Inc. (the "Company") relating to your employment with the Company as of such date. The material terms of your agreement with the Company, to be embodied in a written employment agreement, to be executed no later than August 31, 1997, and substantially in the form attached hereto, are as follows: 1. TERM: Two years 2. TITLE: Chief Creative Officer; President of The Mednick Group 3. COMPENSATION: Year 1: $300,000; Year 2: $350,000. 4. ORACLE ACCOUNT BONUS: Year 1: up to $150,000; Year 2: up to $100,000 (based upon Oracle entering one-to-two year advertising services agreement). 5. PROFITABILITY BONUS: Year one: Ten percent (10%) of profits on billings on the Oracle Account in excess of $16 million dollars; Year 2: Ten percent (10%) of profits on billings on the Oracle Account in excess of $20 million dollars. 6. OPTIONS: 250,000 shares of common stock at an exercise price of $3.69 per share exercisable in equal increments over four years, subject to acceleration in year one and year two based on the Company's gross billings of $20 million in year one and $30 million in year two and a realized profit margin, before taxes, of eight percent (8%) in year one and fifteen percent (15%) in year two. <PAGE> Mr. Larry Kopald August 1, 1997 Page 2 If the foregoing reflects your understanding of the agreement we have reached, please counter-execute below where indicated to confirm such understanding. Very truly yours, /s/ Scott A. Mednick --------------------------- Scott A. Mednick Chief Executive Officer Agreed to and Accepted this 1st day of August, 1997: /s/ Larry Kopald ------------------------- Larry Kopald Enclosure cc: Victoria A. Baylin, Esq.