Sample Business Contracts

Employment Agreement - Citigroup Inc. and Robert E. Rubin

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

March 10, 2004

Mr. Robert E. Rubin
399 Park Avenue, 3^rd Floor
New York, NY 10022

Dear Bob:

        I am writing on behalf of Citigroup Inc. to confirm certain changes to your employment agreement dated October 26, 1999, as amended on February 6, 2002 and February 10, 2003. The guaranty of a level of incentive compensation for 2003 is extended through 2004, and all of the provisions of the employment agreement relating to such incentive compensation (such as composition and manner of payment), including those designed to avoid the loss of deduction under Section 162(m) of the Internal Revenue Code, shall apply to such extended guaranty.

        If the foregoing is consistent with our discussions, please sign in the space provided below.