Sample Business Contracts

Employment Agreement [Amendment] - Delta Air Lines Inc. and Ronald W. Allen

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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  • Commission Agreement. 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.
  • 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.
  • Sales Representative Contract. 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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                                  AMENDMENT TO
                              EMPLOYMENT AGREEMENT

     This Amendment is entered into as of August 16, 1996 between Delta Air
Lines, Inc. (hereinafter called "Delta"), and Mr. Ronald W. Allen of Atlanta,
Georgia ("Employee").


     WHEREAS, the parties entered into an Employment Agreement dated
July 29, 1987, which previously has been amended; and

     WHEREAS, effective August 15, 1992, the Employment Agreement was amended
at Employee's request to reflect a reduction in Employee's basic annual
compensation rate of Five Hundred Seventy-Five Thousand Dollars ($575,000) (the
Employee's salary of record) to Four Hundred Seventy-Five Thousand Dollars
($475,000) per year; and

     WHEREAS, consistent with Delta's use of the salaries of record for other
personnel to protect certain benefits (including but not limited to disability
and retirement benefits) from being reduced by the salary reductions taken by
non-pilot personnel during fiscal year 1993, Employee's benefits under the
Employment Agreement were also protected; and

<PAGE>   2

     WHEREAS, Delta's Board of Directors has determined that, effective August
16, 1996, Employee's basic annual compensation rate should be restored to the
level that existed prior to his above described voluntary salary reduction, and
that Employee's benefits under the Employment Agreement should continue to be
protected by disregarding such voluntary salary reduction;

     NOW, THEREFORE, in consideration of the premises and the mutual
considerations herein mentioned or contained, it is agreed as follows:

             Section 3(a) of the said Employment Agreement shall be amended by
             striking the existing clause and substituting the following,
             effective August 16, 1996:

                  (a) basic compensation (herein sometimes called "Basic
             Compensation") at a rate of not less than Five Hundred
             Seventy-Five Thousand ($575,000) Dollars per year, payable in
             equal installments at such periods as may be convenient to Delta
             but not less often than monthly, provided, however, that for
             purposes of calculating the amounts payable under Sections 5 and 7
             of this Employment Agreement, Employee's Basic Compensation shall
             be deemed to have been Five Hundred Seventy-Five Thousand
             ($575,000) Dollars per year for the period beginning August 15,
             1992 and ending August 15, 1996.

     It is further agreed that all other terms and conditions of the said
Employment Agreement shall remain in full force and effect.

                                     - 2 -

<PAGE>   3

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the day and year first above written.

                                       DELTA AIR LINES, INC.        
                                  By   /s/ Gerald Grinstein
                                       Gerald Grinstein, Chairman   
                                       Personnel, Compensation &    
                                        Nominating Committee         

                                       /s/ Ronald W. Allen
                                       Ronald W. Allen

                                     - 3 -