Zix Corp. Contracts
Sample Business Contracts
Employment Agreement - ZixIt Corp. and Jeffrey P. Papows
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
October 18, 2000 [ZIXIT LETTERHEAD] VIA FEDERAL EXPRESS Mr. Jeffrey P. Papows Maptuit Corporation 35 Corporate Drive, 4th Floor Burlington, Massachusetts 01803 Dear Jeff: This letter memorializes the agreement you and ZixIt Corporation ("ZixIt" or the "Company") have reached regarding the additional ZixIt responsibilities you are assuming. o You have agreed to serve as Chairman of the Board of Directors of ZixIt Corporation. In addition to the normal Chairman's duties, you will have direct responsibility for the sales and marketing management of the Company's products and services. The Company's sales and marketing personnel will report to you. o The Company will pay to you $12,500 per month cash compensation. Additionally, the Company will pay your travel and other business related expenses that we have discussed. o The Company will issue to you non-qualified options to acquire 175,000 shares of ZixIt common stock at an exercise price of $19.75 per share. The option grant will vest pro-rata and annually over two years, and the vesting of the options will accelerate upon a "change in control" of the Company. The options will have a five year term. The terms and conditions of the option grant will be set forth in an option agreement, which will be reviewed and approved by the Company's Board of Directors or its designee. o Your responsibility for the sales and marketing management of the Company's products and services may be terminated by either you or the Company upon written notice with or without "cause." However, if the Company terminates without "cause," then the vesting of your options will automatically accelerate. If this letter sets forth your understanding of our agreement, please so indicate by signing below and returning a copy of this letter to us for our files. Very truly yours, /s/ DAVID P. COOK David P. Cook Chairman & CEO AGREED AND ACCEPTED /s/ Jeffrey P. Papows --------------------- Jeffrey P. Papows Date: 10/19/00 --------