Sample Business Contracts


Employment Agreement - Biokeys Pharmaceuticals Inc. and Joan M. Robbins

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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March 5, 2003

Joan M. Robbins, Ph.D.
10265 Pinetree Drive
San Diego, CA 92131

Dear Joan:

Biokeys Pharmaceuticals, Inc. is pleased to offer you the position of Chief
Technical Officer, reporting directly to me. Responsibilities will encompass
all aspects of moving our product portfolio from the research lab through
clinical development and regulatory authorities. This is a key position in the
Company, intended to take full advantage of your experience base, while
offering you an opportunity to grow in responsibility and be rewarded through a
lucrative compensation package as follows:

COMPENSATION PACKAGE

     1. Annual Salary of $170,000, paid every two weeks (You will be entitled
        to a compensation review at the one year anniversary of employment.)
     2. 300,000 Incentive Stock Options struck at 50 cents per share that
        expire on 12/30/08. 100,000 will vest upon acceptance of this offer,
        100,000 will vest at the one year anniversary of your employment and
        100,000 will vest at the two year anniversary of your employment.
     3. A Bonus Schedule of 5% for all government grants received by the
        Company to be paid in incentive stock options. (For example, if the
        Company receives a grant for $1,000,000, then we will reserve 50,000
        additional incentive options priced at the close of business on the day
        that the Company is notified of the grant. When the grant is received,
        you will receive the options.)
     4. A Bonus Schedule of 5% paid in incentive stock options for all capital
        received by the Company that is a direct result of your introduction,
        which does not require that you consummate the investment, but rather
        you only need refer the new party. (For example, if the Company
        receives an investment for $2,000,000 from an Investor that you
        introduce or refer to the Company, then we will issue to you 100,000
        additional incentive stock options priced at the close of business on
        the day that the investment is received.)
     5. You will receive four weeks paid vacation per year, which will begin to
        accrue at one week per quarter, plus paid holidays.
     6. You will be offered a paid healthcare benefits package if you do not
        have coverage.
     7. The Company will pre-pay or reimburse you for all pre-approved job
        related expenses for performance of your duties.

We believe you can contribute significantly to the success of our Company, grow
with us, and be rewarded appropriately for your accomplishments. Please let us
know if you want to join our team.

Sincerely,

Nicholas J. Virca
Chief Executive Officer

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