Net2Phone Inc. Contracts
Sample Business Contracts
Employment Agreement - IDT Corp. and Clifford M. Sobel
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
[NET2PHONE LETTERHEAD] May 12, 1999 Clifford M. Sobel 40 Dorrison Drive Short Hills, New Jersey 07078 Dear Cliff: This letter is being entered into in connection with the amendment among Net2Phone, Inc. ("Net2Phone"), IDT Corporation ("IDT") and you, dated May 11, 1999 (the "Amendment"), to the original employment agreement between you and IDT, dated May 1, 1997 (the "Agreement"). While the Amendment made Net2Phone a party to the Agreement, we have asked for you and IDT to execute this letter agreement to clarify two points with respect to the Amendment and the Agreement. 1. It is the intention and desire of the parties to amend Section 8 and Section 12 of the Agreement to include Net2Phone within the purview of the nondisclosure and non-compete provisions contained therein. Therefore, Section 8 and Section 12 of the Agreement are hereby amended to include Net2Phone along with the Company (as defined in the Agreement) for purposes of your nondisclosure and non-compete obligations as set forth in Section 8 and Section 12 of the Agreement. 2. This letter shall also clarify that you executed the Amendment in your capacity as an individual and not as an officer of Net2Phone. Please acknowledge your acceptance to the terms of this letter by executing below. Very truly yours, Howard S. Balter Chief Executive Officer AGREED TO AND ACCEPTED: IDT CORPORATION /s/ Clifford M. Sobel By: /s/ Joyce Mason -------------------------------- ------------------------------ Clifford M. Sobel Name: Joyce Mason Title: General Counsel