Sample Business Contracts

Employment Agreement - Instinet Group Inc. and Ian Strachan

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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                                                                 January 1, 2003

Mr. Ian Strachan
30 Bloomfield Terrace
London SW1W 8PQ

      Re:   Non-Executive Chairman

Dear Ian:

      On behalf of Instinet Group Incorporated ("Instinet"), we are pleased that
you accepted the role of Non-Executive Chairman of the Board. Set forth below
are the agreed upon terms and conditions relating to this position:


TERM:                                     Commences January 1, 2003 and expires upon Spring 2005 annual
                                          shareholders meeting, absent earlier resignation, removal, death
                                          or disqualification

AMOUNT OF TIME ANTICIPATED TO BE          Seven days per month (including two travel days).

RETAINER (INCLUSIVE OF ALL MEETING        $275,000 per annum, payable monthly.

RESTRICTED STOCK AWARD:                   $75,000 value annually to be awarded as of the date of the annual
                                          shareholders meeting in 2003 and 2004, with one-year vesting; pro-rata
                                          award based upon $75,000 annualized value from January 1, 2005 through
                                          the date of the annual shareholders meeting in Spring 2005, with
                                          one-year vesting

ANNUAL INCENTIVE BONUS PLAN:              Non eligible.

INSTINET 2000 STOCK OPTION PLAN:          Non eligible.

EXPENSES:                                 Instinet shall reimburse you for all reasonable travel, lodging,
                                          meal and other reasonable expenses incurred in connection with the
                                          performance of your duties and responsibilities as Non-Executive

Ian Strachan
Non-Executive Chairman
- Page 2 -

      We are indeed pleased that you will assume responsibilities of this
position and we look forward to working closely with you to help Instinet

      Best regards.

                                                   Very truly yours,

                                                   /s/ Paul A. Merolla

                                                   Paul A. Merolla
                                                   Executive Vice President,
                                                   General Counsel and Secretary

Accepted and Agreed
this 1st day of January, 2003

/s/ Ian Strachan
Ian Strachan