Sample Business Contracts

Employment Agreement - Cybernet Data Systems Inc. and Jay Sears

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.
  • Consulting Agreement. Answer simple questions to build a contract with a consultant. Specify the services rendered, when payment is due, as well as IP rights.
  • 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.
  • More Employment Agreements

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CYBERNET DATA SYSTEMS, INC.                               5 RIVER ROAD SUITE 130
                                                       WILTON, CONNECTICUT 06987
                                                             VOICE: 203-834-6282
                                                               FAX: 203-834-6280

May 19, 1997

Mr. Jay Sears
2373 Broadway
Apt. 830
New York, NY 10024

Dear Jay:

This letter serves as a letter of understanding between Cybernet Data Systems,
Inc. (the "Company") and you concerning your employment by the Company.

1. The Company shall employ you, and you shall serve the company as Vice
President, Marketing and Business Development. Your responsibilities will
include the promotion of the Company's products and services and the development
of key business relationships.

2. As consideration for your services, you shall be entitled to receive
compensation as follows:

         a) Base salary at the rate of $80,000 per year.

         b). 16,000 shares of stock, representing approximately .20% in the
         Company after the first 90 days of service (effective August 19, 1997)
         with the Company. Should any liquidity event (ex. a public or private
         sale of the Company) takes place prior to this 90 day term, ownership
         of the 16,000 shares will become immediate.

         c). Within 180 days, the Company intends to establish a plan for
         employees to accumulate greater shares of stock in the Company, and you
         will be a beneficiary of such a plan.

         d). You are eligible for a discretionary bonus, and that if and when
         such a bonus program is formalized in any manner, you will be a
         beneficiary of such a plan.

         e). Your employment shall begin on May 27, 1997 and shall continue
         until termination by either party upon not less than 30 days notice to
         the other. The Company agrees that you will be entitled to severance
         pay in the following manner: if you are terminated prior to completion
         of six months of service with the Company, you shall be entitled to
         three months of severance pay; if you are terminated at any point after
         six months of service with the Company, you shall be entitled to six
         months of severance pay. Severance is payable upon termination.
         Notwithstanding the foregoing, if you are terminated for cause,
         including, but not limited to theft, fighting, dishonesty, disloyalty,
         disability, lasting longer than sixty (60) days, etc., then no
         severance shall be made.

         f). You shall be entitled to participate in the following Company
             benefits and such other benefits as may become available:

                  1). Medical insurance is available after the first 30 days of
                  employment. You and the Company agree to determine what
                  arrangement is best for both parties: to keep your current
                  insurance and have the Company cover out-of-pocket costs; or
                  to be placed on the Company's medical plan. Regardless, you
                  will always have access to the Company's medical plan.
<PAGE>   2
Cybernet Data Systems, Inc.      Employment Agreement                     page 2

                  2). You shall be entitled to two weeks of vacation per year.

                  3). The Company has expressed its intention to put in place a
                  401(k) plan.

                  4). You and the Company have discussed travel expenses and
                  agree to determine what is best for both parties after the
                  execution of this agreement.

         3). With regard to confidentiality and competitive activities:

                  a). You acknowledge that you will come into possession of
                  confidential information concerning products, clients,
                  customers and employees and you will agree that during your
                  employment and for a period of one year thereafter, you will
                  not disclose such information to any person or entity without
                  the Company's prior written consent.

                  b). You agree that you will not solicit any employees of the
                  Company to leave their employment and work for you or another
                  company during your employment and for a period of one year
                  thereafter; and

                  c). You agree that you will not compete, directly or
                  indirectly, with the Company for a period of six months after
                  your employment ends.

         4). Alteration or Assignment of Agreement:

                  a). This agreement may not be changed except by a writing
                  signed by both parties.

                  b). This agreement may be assigned to any affiliate of
                  the Company or to any successor to a substantial portion of
                  the Company's assets or business.

         Please confirm your agreement to the foregoing by signing and returning
a copy of this letter.




         By: /s/ Susan Strausberg
                  Susan Strausberg, President

         By: /s/ Marc Strausberg
                  Marc Strausberg, CEO

         Agreement Confirmed:

         By: /s/ Jay Sears
                  Jay Sears