Ascential Software Corp. Contracts
Sample Business Contracts
Employment Agreement - Informix Software Inc. and Peter Gyenes
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
[LETTERHEAD OF INFORMIX] July 31, 2000 Mr. Peter Gyenes 40 Heath Hill Brookline, MA 02146 Dear Peter: This letter confirms the recent actions of the Compensation Committee of the Board of Directors. Effective July 14, 2000, your annual base compensation is $600,000, payable in equal, semi-monthly installments. You will also participate in the Executive Incentive Compensation Plan, effective July 1, 2000, at a target incentive of 100% of this annual base. For fiscal 2000, 25% of this annual target incentive shall be guaranteed. The Board of Directors has approved a non-qualified stock option under the Corporation's 1994 Stock Option and Award Plan of 1,500,000 shares, priced on July 13, 2000 at $4.9375. Twenty-five percent (25%) of these options shall be exercisable on or after the first anniversary of the effective date, and an additional 2.08% shall be exercisable on or after each one-month anniversary thereafter. You will also receive a retention bonus of $875,000, payable immediately, with an equal retention bonus payment of $875,000 to be paid on April 15, 2001, pending your active continuance in your executive management position at that time. Your involuntary termination or a Change of Control prior to April 15, 2001 will accelerate the second payment to the date of your actual termination. For the Compensation Committee /s/ Wayne E. Page Wayne E. Page Vice President-Human Resources