Internet Capital Group Inc. Contracts
Sample Business Contracts
Employment Agreement - Internet Capital Group Inc. and Henry Nassau
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
December 11, 2002 Henry Nassau 113A Swedesford Road Wilson Farm Malvern, PA 19355 Dear Henry, The Board of Directors and I place a high priority upon retaining your services to ICG and in rewarding for your valuable contributions. In addition your advice, guidance, and perspective have been invaluable to members of our management team. Therefore, I am very pleased to communicate changes to your compensation and terms of employment approved by the Compensation Committee. All other employment terms and conditions remain the same. - A promotion to Chief Operating Officer effective January 1, 2003. - A target bonus of 150% beginning effective beginning for fiscal year 2002. - A modification of your severance agreement dated September 20, 2001 which adds "a voluntary resignation six months after the naming of any individual other than Walter Buckley as Chief Executive Officer, or any individual other than yourself as President or Chief Operating Officer prior to December 31, 2005", as an eligible termination for severance benefits. - A stock option grant of 950,000 shares priced at $0.23. 500,000 of these stock options will vest 25% after one year and the remainder will vest monthly over next three years. 225,000 of these stock options cliff vest 100% after four years with accelerated vesting upon achievement of specific Core Partner Company positive EBITDA for two consecutive quarters. 225,000 stock options will cliff vest 100% after four years with accelerated vesting upon achievement of specific ICG net income for two quarters. You will shortly receive stock option certificates and materials detailing the full terms and conditions of this stock option grant. My belief is that the current ICG team, including you, is outstanding and will drive our success against our business plan. I sincerely thank you for your dedication, commitment, and personal support through the challenges I have faced over the last three years. I look forward to working with you even more closely in your new role and have the greatest confidence in our future success as a team. Sincerely, /s/Walter Buckley Chairman and Chief Executive Officer cc: employee file