Sample Business Contracts


Employment Agreement - Topps Co. Inc. and Arthur T. Shorin

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.
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May 22, 1996



Mr. Arthur T. Shorin
400 East 56th Street
New York, NY 10022

Dear Mr. Shorin:

The Topps Company, Inc. (the "Company") hereby agrees with you to the following
amendment (the "Amendment") to your Employment Agreement with the Company, dated
as of October 28, 1991, as amended on May 18, 1994 and May 19, 1995 (the
"Agreement").

This will confirm your consent (i) to the waiver of the 10% increase in your
base salary pursuant to section 5(a) of the Agreement for the Company's fiscal
year ending March 1, 1997 only and (ii) to a target annual bonus opportunity of
20% of annual base salary for the Company's fiscal year ending March 1, 1997.

The amendments set forth herein shall be limited precisely as written and shall
not be deemed to be a modification or waiver of any right or remedy which the
parties hereto may now have or may have in the future under or in connection
with the Agreement, including, without limitation, the right to have all
termination payments required to be made under Section 7 of the Agreement
calculated to include all salary increases required to have been provided under
the terms of the Agreement, without regard to the limited waivers of such
increases made by the amendments to the Agreement dated May 18, 1994, May 19,
1995 and May 22, 1996. Except as provided herein, the Agreement shall remain
unchanged and in full force and effect. This Amendment may be executed in
counterparts, which taken together shall constitute one and the same amendatory
instrument.

This Amendment shall be governed by and construed and enforced in accordance
with the laws of the State of New York.

Very truly yours,

THE TOPPS COMPANY, INC.



By:  /s/      Catherine Jessup                      /s/      Arthur T. Shorin
     ------------------------------------------     ----------------------------
              Catherine Jessup                               Arthur T. Shorin
         Vice President-Chief Financial Officer

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