Sample Business Contracts

Employment Agreement - InPhonic Inc. and Scott Yancey

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.
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April 10, 2002

Scott Yancey
11728 Flemish Mill Court
Oakton, VA 22124

Dear Scott:

         We are pleased to extend an offer of regular, full-time employment for
the position of Chief Financial Officer. The annual compensation is $195,000.
You will be eligible for bonus opportunities up to $100,000. As a condition of
employment, you will be asked to sign the Company's Proprietary Information and
Inventions Agreement. This offer is contingent upon a satisfactory background
check. Upon joining the Company you will be eligible to participate in the
Company's equity compensation plan. The terms of your participation will be the
same as other similar level employees of the Company. You will be granted
550,000 incentive stock options to purchase common stock in the Company, at an
exercise price of $2.60, pursuant to the Company's 1999 Stock
Option Plan and pending board approval; provided, further, your incentive stock
option agreement shall provide that you shall vest in forty percent (40%) of
your options upon the expiration of the first twelve (12) months of your
employment with the Company with the remainder quarterly vesting over the
following three (3) years thereafter.

         It is my understanding that your start date will be May 1, 2002. You
will be eligible for our complete package of employee benefits as of your start
date. If you have any questions regarding our benefit plans prior to your
starting date, please feel free to contact me at (301) 833-0040 x241.

         On your first day please plan on arriving at our office, 1010 Wisconsin
Avenue by 9:00 a.m. to meet with me. In addition, please bring an original
document or documents that establish identity and employment eligibility as
required by federal law. Contact Human Resrouces for a complete listing of
acceptable forms of identification.

         Please indicate below your acceptance of the above terms of employment.
Employment at InPhonic, Inc. is at-will. This means that you may terminate your
employment at any time and for any reason whatsoever simply by notifying the
Company. This also means that the Company may terminate your employment as well
as change the terms and conditions of employment, including but not limited to
promotion, demotion, probation, transfer, compensation, benefits, duties and
location of work, at any time and for any reason whatsoever, with or without
cause or advance notice. Nothing is this offer or otherwise unless signed by the
CEO of InPhonic shall change this status.


         If you choose to accept our offer under the terms described above,
please note your exact start date and return the original signed copy of this
letter in the enclosed self-addressed, stamped envelope within seven working

         We look forward to your joining the InPhonic team. If you should have
any questions, please feel free to contact me at (301) 883-0040 x241.


David Steinberg

I accept the position under the terms of employment as described above:

/s/ Scott Yancey
-----------------------------------------      ----------------------
Scott Yancey                                   Date of Employment