Net2Phone Inc. Contracts
Sample Business Contracts
Employment Agreement [Amendment No. 1] - Net2Phone Inc. and Jonathan Fram
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
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT This Amendment No. 1 (the "Amendment") to the Employment Agreement (the "Agreement"), originally dated July 2, 1999, between Net2Phone, Inc., a Delaware corporation (the "Company"), and Jonathan Fram (the "Executive"), is made as of the 16th day of July 1999. WHEREAS, the Company and the Executive desire to amend the Agreement to eliminate the Loan (as defined in the Agreement) and in lieu thereof to issue additional options to purchase 100,000 shares to the Executive. NOW THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties hereby agree as follows: 1. Section 4(d) of the Agreement is hereby deleted in its entirety and replaced with the following language: (d) ADDITIONAL OPTIONS The Company shall grant to the Executive additional options to purchase 100,000 shares (the "Additional Options") of Common Stock pursuant to the Company's 1999 Stock Option and Incentive Plan at an exercise price per share equal to the price per share to the public in the Company's proposed initial public offering of its Common Stock (the "IPO"). All of the Additional Options shall be immediately exercisable. The Additional Options also shall be subject to the last two sentences of Section 4(c) of the Agreement. 2. All other terms of the Agreement shall remain in full force and effect. 1 <PAGE> IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 1 as of this 16th day of July, 1999. NET2PHONE, INC. By: /s/ Clifford M. Sobel ---------------------------- Name: Clifford M. Sobel Title: Chairman EXECUTIVE /s/ Jonathan Fram -------------------------------- Jonathan Fram 2