Sample Business Contracts


Employment Agreement - THINK New Ideas Inc. and Larry Kopald

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.
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                                  July 31, 1997


Mr. Larry Kopald
THINK New Ideas, Inc.
8000 Sunset Boulevard, Penthouse East
Los Angeles, California 90046

         Re:      Employment
                  ----------

Dear Mr. Kopald:

         This is to confirm the agreement reached as of May 31, 1997 between you
and THINK New Ideas,  Inc. (the "Company")  relating to your employment with the
Company as of such date.  The material terms of your agreement with the Company,
to be embodied in a written employment  agreement,  to be executed no later than
August 31, 1997, and substantially in the form attached hereto, are as follows:

         1.       TERM:  Two years

         2.       TITLE:  Chief Creative Officer; President of The Mednick Group

         3.       COMPENSATION:  Year 1: $300,000; Year 2: $350,000.

         4.       ORACLE  ACCOUNT BONUS:  Year 1: up to $150,000;  Year 2: up to
                  $100,000   (based  upon  Oracle   entering   one-to-two   year
                  advertising services agreement).

         5.       PROFITABILITY BONUS: Year one: Ten percent (10%) of profits on
                  billings  on the  Oracle  Account  in  excess  of $16  million
                  dollars;  Year 2: Ten percent  (10%) of profits on billings on
                  the Oracle Account in excess of $20 million dollars.

         6.       OPTIONS:  250,000  shares of common stock at an exercise price
                  of $3.69 per share  exercisable in equal  increments over four
                  years,  subject to acceleration in year one and year two based
                  on the Company's gross billings of $20 million in year one and
                  $30 million in year two and a realized  profit margin,  before
                  taxes,  of eight percent (8%) in year one and fifteen  percent
                  (15%) in year two.


<PAGE>

Mr. Larry Kopald
August 1, 1997
Page 2




If the foregoing  reflects your  understanding of the agreement we have reached,
please counter-execute below where indicated to confirm such understanding.


                                  Very truly yours,


                                  /s/ Scott A. Mednick
                                  ---------------------------
                                  Scott A. Mednick
                                  Chief Executive Officer




                                  Agreed    to   and
                                  Accepted this 1st day of August, 1997:

                                  /s/ Larry Kopald
                                  -------------------------
                                  Larry Kopald

Enclosure

cc: Victoria A. Baylin, Esq.

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