Sample Business Contracts
Employment Agreement - Instinet Group Inc. and Ian Strachan
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
January 1, 2003 Mr. Ian Strachan 30 Bloomfield Terrace London SW1W 8PQ England Re: Non-Executive Chairman Dear Ian: On behalf of Instinet Group Incorporated ("Instinet"), we are pleased that you accepted the role of Non-Executive Chairman of the Board. Set forth below are the agreed upon terms and conditions relating to this position: TERM: Commences January 1, 2003 and expires upon Spring 2005 annual shareholders meeting, absent earlier resignation, removal, death or disqualification AMOUNT OF TIME ANTICIPATED TO BE Seven days per month (including two travel days). DEVOTED TO ROLE: RETAINER (INCLUSIVE OF ALL MEETING $275,000 per annum, payable monthly. FEES): RESTRICTED STOCK AWARD: $75,000 value annually to be awarded as of the date of the annual shareholders meeting in 2003 and 2004, with one-year vesting; pro-rata award based upon $75,000 annualized value from January 1, 2005 through the date of the annual shareholders meeting in Spring 2005, with one-year vesting ANNUAL INCENTIVE BONUS PLAN: Non eligible. INSTINET 2000 STOCK OPTION PLAN: Non eligible. EXPENSES: Instinet shall reimburse you for all reasonable travel, lodging, meal and other reasonable expenses incurred in connection with the performance of your duties and responsibilities as Non-Executive Chairman <PAGE> Ian Strachan Non-Executive Chairman - Page 2 - We are indeed pleased that you will assume responsibilities of this position and we look forward to working closely with you to help Instinet succeed. Best regards. Very truly yours, /s/ Paul A. Merolla Paul A. Merolla Executive Vice President, General Counsel and Secretary Accepted and Agreed this 1st day of January, 2003 /s/ Ian Strachan ---------------------------------- Ian Strachan