Sample Business Contracts
Employment Agreement - SAFLink Corp. and Jon Engman
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
April 15, 2002
Jon Engman
3515 Monterey Ct. N.E.
Newcastle, WA 98056
Dear Jon:
This letter will confirm SAFLINK Corporation’s offer and your acceptance of the position of Chief Financial Officer, effective upon approval by the Board of Directors. Recapped below are the major terms of your employment with SAFLINK Corporation.
Position Overview
This position reports to the Company’s Chief Executive Officer and is responsible for all aspects of the organization’s financial dealings.
Terms
Annual Salary: $140,000.00.
Stock options: 182,000 shares vesting over three (3) years in thirty-six (36) equal monthly installments and subject to a nine (9) month probationary cliff. This offer is subject to approval and award by the board of directors of SAFLINK Corporation.
Employee Benefits: Eligible for regular employee benefits including three weeks of vacation per year accrued ratably throughout the year; group medical, dental, vision and life insurance on the first day of the month following your first day of employment; company paid holidays (currently 9 per year) and two personal days; and eligibility to participate in the SAFLINK’s Flexible Spending Plan and the Company’s 401(K) Plan on the first day of the month following your first day of employment.
Other Terms: Employment by SAFLINK Corporation is at will and may be terminated by either party, for any reason or no reason, at any time. Employment will be subject to satisfactory completion of reference checks and the terms of the Company’s standard employment agreement.
We are pleased that you will be joining us. Please sign this letter to acknowledge your understanding and acceptance and return your original signed copy to me.
Welcome to SAFLINK Corporation.
| Sincerely, |
| /s/ Ann Alexander |
| Ann Alexander |
| Chief Operating Officer |
I understand and accept the above as the basis of my terms of emplyment with SAFLINK Corporation.
/s/ Jon Engman April 30, 2002
Jon Engman Date