Sample Business Contracts


Employment Agreement - The Walt Disney Co. and Michael D. Eisner

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.
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  • 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.
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As of December 21, 1999

Mr. Michael D. Eisner
Chairman and Chief Executive Officer
The Walt Disney Company
500 South Buena Vista Street
Burbank, California 91521

Dear Michael:

  Reference is made to the employment agreement between The Walt Disney
Company ("Company") and you ("Executive") dated January 8, 1997, as modified
by letter agreement dated December 29, 1998 (the "Agreement").

  Company and Executive hereby agree as follows:

  1. Notwithstanding any provision to the contrary in Section 4 of the
     Agreement, Executive's incentive bonus for Company's fiscal year ending
     September 30, 2000, shall be determined pursuant to Company's Annual
     Bonus Performance Plan for Executive Officers. In furtherance of the
     foregoing, Executive hereby waives all rights to any bonus for such
     fiscal year pursuant to the bonus formula attached to the Agreement.

  2. Executive and Company shall use their best efforts to formulate a new
     incentive bonus provision for Executive which, if agreed upon, would be
     effective for each fiscal year of Company ending after September 30,
     2000 and on or before termination of the Agreement and for such
     additional periods as are provided in Section 4(e) of the Agreement.

  Company and Executive confirm their agreement that this letter agreement is
being entered into pursuant to Section 4(c) of the Agreement and shall be
subject to all of the provisions thereof. Except as modified by the foregoing,
the Agreement shall remain in full force and effect and shall be unaffected by
any failure of Company and Executive to reach agreement regarding a new
incentive bonus provision as contemplated by paragraph 2 above.

  If the foregoing accurately reflects our agreement, please sign a copy of
this letter in the space provided below and return a copy of same to us.

                                          Very truly yours,

                                          THE WALT DISNEY COMPANY

                                                /s/ Raymond L. Watson
                                          By: _________________________________
                                                 Raymond L. Watson
                                          Title: Chairman of the Executive
                                           Committee

AGREED AND ACCEPTED:

    /s/ Michael D. Eisner
-------------------------------------
        Michael D. Eisner

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