Scientific Games Corp Contracts
Sample Business Contracts
Employment Agreement - Autotote Corp. and Alan L. Cigich
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
[LOGO OF AUTOTOTE APPEARS HERE] November 27, 1995 Mr. Alan L. Cigich 13201 Lauren Lane Midlothian, Virginia 23113 Dear Alan: We are very pleased to confirm our offer to you for the position of Vice President of Human Resources with Autotote Corporation, located at our Newark, Delaware facility. The position remuneration is $125,000 per annum, plus you will be eligible to participate in the company's incentive compensation program with a maximum participation of 30%. As an executive with Autotote Corporation, you will participate in our Medical Insurance Plan, and you will participate in Autotote Corporation's 401(k) and company funded Pension Plan, and receive vacation per the standard policy. Autotote Corporation will reimburse you, upon submission of an expense report, for your personal medical insurance costs until such time as Autotote Corporation Medical Insurance commences. In addition, the company will reimburse you for relocation costs which will include: . Cost of packing, storing and relocating household goods to the Newark, Delaware area . Customary temporary living expenses for up to six months for you and yours until your new residence is habitable, and . An allowance for miscellaneous relocation and closing expenses, not to exceed $10,000. <PAGE> [LOGO OF AUTOTOTE APPEARS HERE] Alan L. Cigich Page Two Additionally, you will participate in the Autotote Corporation Employee Stock Option Plan and receive options for 20,000 shares of Autotote common stock at the average price on the date employment commences. We look forward to your joining the Autotote team, effective Monday, December 4, 1995. Please sign and return one copy of this letter to me at the address listed below: Autotote Corporation 750 Lexington Avenue, 25th Floor New York, New York 10022 Sincerely, /s/ Thomas C. DeFazio ---------------------- Thomas C. DeFazio President and Chief Operating Officer /s/ Alan L. Cigich ------------------ Alan L. Cigich TCD:jk