Sample Business Contracts

Employment Agreement - Ascential Software Corp. and Robert C. McBride

Employment Forms

  • Employment Agreement. Employers can customize an employment agreement that states the salary, benefits, working hours and other important provisions for their new or existing employee.
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  • Executive Employment Agreement. 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.
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June 13, 2001

Mr. Robert C. McBride
20 Stoney Brook Road
Sherborn, Ma 01770

Dear Bob:

We are very pleased that you are considering joining us at Ascential Software, a
wholly owned subsidiary of Informix Corporation. The purpose of this letter is
to set forth our offer of employment. We propose that you begin employment with
Ascential Software in the capacity of CFO in our Westboro office, reporting to
Peter Fiore, President of Ascential Software and Peter Gyenes, CEO of Ascential
Software Corporation.

Your salary, computed on an annual basis beginning on the date you become an
employee of the Company is $250,000, which will be paid, in equal semi-monthly
installments of $10416.60. You will be covered under our company health, dental,
life and long-term disability insurance benefit plans, effective on the first
day of your employment. Insurance programs are subject to change by the Company
without notice. Informix also offers a 401(k) retirement savings program with
immediate enrollment eligibility. You will also participate in the Executive
Incentive Compensation Plan (EICP) at a rate of 50%. You will also be awarded a
$50,000.00 hire-on bonus which will be paid to you within your first thirty (30)
days of employment. Should you decide to voluntarily terminate your employment
within 12 months of your hire date, 100% of your hire-on bonus will be repayable
to Informix Software, Inc. A change of Control document is included for your
review and signature.

In addition to your base salary above, you will be recommended for a
nonqualified stock option under the Informix Corporation Employee Stock Option
Plan to acquire 300,000 shares of the common stock of Informix Corporation.
Options are granted to Ascential employees on the 15th Ascential U.S. business
day of each month ("the Grant Date"). If this option is granted to you, it will
be granted on the Grant Date occurring in the month following the month in which
your employment commences. You, of course, will be under no obligation to
exercise any stock options, which may be granted to you.

This offer of employment is contingent upon the following:

     -    Please refer to the attached COC document for details and signature.

     -    Your signing of the Company's Employee
          Confidential/Ownership/Nonsolicitation Agreement, in the form

     -    Your acceptance of this offer by signing this letter below.

     -    Your signing of the enclosed W-4 form.

     -    Within your first day of employment, you must provide for examination
          proof of your legal right to work in the United States and complete
          the Immigration Form I-9 as required by the U.S. Immigration and
          Naturalization Service. These include either 1) a U.S. passport, a
          U.S. certificate of citizenship, a U.S. certificate of naturalization,
          an unexpired foreign passport with attached employment authorization
          or an alien registration card with photograph; OR 2) a state driver's
          license, a state I.D. card, a U.S. military card AND a Social Security
          card or a U.S. birth
Page 2
Robert C. McBride
June 13, 2001

   certificate. If you do not have proof of identification on the first day of
   employment, you will be sent home to obtain the documents. You will not be
   placed on the payroll until this form is completed by a Company
   representative. If for any reason you are unable to provide proof of your
   identity as well as your legal right to work in the United States within the
   first three days, the Company may terminate your employment. From time to
   time after your first day of employment, you may be asked to provide proof of
   your identity as well as your legal right to work in the United States.
   Employment may be contingent upon approval of an Export License granted by
   the U.S. Department of Commerce, if required.

This offer of employment is for employment "at will", which means that it is not
for any specific period of time and your employment may be terminated with or
without cause by yourself or the Company at any time and for any reason.

As an employee of Informix, you also agree to comply with company policies,
procedures and standards of conduct that may be established by the Company.

This offer of employment contains all of the terms and conditions of your
employment with the Company and supersedes any and all prior, oral or written
representations or agreements made by anyone employed by, or associated with,
the Company.

The terms of this offer, if accepted, will become your terms of employment and
can only be added to or modified by a written document signed by the Vice
President of Human Resources, Human Resources Director or the President of the

Please be advised that this offer of employment is valid only to 7 business
days. Please acknowledge your acceptance by signing and dating this letter and
returning it to us by 10 business days. In addition, please complete and return
all of the enclosed new hire forms to the Human Resources Staffing Department
prior to beginning your employment or no later than 3 days after your date of
hire. Enclosed for your convenience in returning the offer letter and related
material is a self-addressed envelope. Please bring all of your new hire
paperwork, required identification, Non-Disclosure Agreement with you on your
first day of employment for verification and witnessing by your manager.

Bob, we are very excited at the prospect of you joining our executive team. You
industry expertise and leadership competencies will be a wonderful attribute to
Ascential. Should you have any questions regarding this offer, please call
Eileen Bergquist at 508 366 3888 X3215.


/s/ Eileen Bergquist
    Eileen Bergquist - VP Human Resources

AGREED ON THE 20th DAY OF June, 2001


SIGNED: /s/ Robert C. McBride