Sample Business Contracts
Employment Agreement [Amendment No. 2] - Nanogen Inc. and Michael D. Moore
- 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
SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
This Second Amendment to Employment Agreement ("Amendment"), effective as of July 1, 2001, is made by and between NANOGEN, INC., a Delaware corporation (the "Company"), and MICHAEL D. MOORE (the "Executive").
WHEREAS, the Company and Executive have entered into an Employment Agreement dated December 6, 1999, superceded by an Employment Agreement dated June 15, 2000 and a First Amendment to Employment Agreement dated July 28, 2000 (collectively the "Employment Agreement"); and
WHEREAS, the Company and Executive wish to amend the Employment Agreement as described herein.
NOW, THEREFORE, the Company and Executive, in consideration of the Executive's continued employment with the Company, agree as follows:
- Title/Responsibilities. In Article II, Section A (Title/Responsibilities) of the Employment Agreement, Executive's title is stated to be "Senior Vice President and General Manager". The title and position of "Senior Vice President and General Manager" is hereby deleted from the Employment Agreement, and the title and position of "Senior Vice President, Operations" is substituted.
- Full Time Attention. Article II, Section B (Full Time Attention) of the Employment Agreement requires Executive to "devote his best efforts and his full business time and attention to the performance of the services customarily incident to such office and to such other services as the Board may reasonably request". This language is hereby deleted, and the following language is substituted: "Executive shall devote his best efforts and his time and attention to the performance of the services customarily incident to such office and to such other services as the Board may reasonably request while working three full (3) days per week at the Nanogen San Diego office and one full (1) day per week from his Bay Area residence".
- Base Salary. Article III, Section A (Base Salary) of the Employment Agreement sets Executive's base salary at $250,000 per year. This language is hereby deleted, and the annual Base Salary is hereby set at the rate of one hundred fifty thousand dollars ($150,000).
- Stock Options. Article IV, Section E (Stock Options) of the Employment Agreement provides for certain vesting schedules for stock options granted to Executive at various times. Effective July 1, 2001, Executive's stock options will vest at eighty percent (80%) of his current vesting schedule, as set forth in Exhibit A attached hereto and incorporated herein. Should additional stock options be granted to Executive in the future, they also will vest at eighty percent (80%) of the vesting schedule provided to full time employees at Executive's level.
- No Constructive Termination. Executive acknowledges that the foregoing amendments to the Employment Agreement do not constitute Constructive Termination of Executive's employment as that term is defined in Article VI, Section E (Constructive Termination) of the Employment Agreement.
- Remainder of Agreement. The other terms and conditions contained in the Employment Agreement shall remain in effect pursuant to the Employment Agreement and such terms and conditions, where applicable, shall also govern this Amendment.
- Governing Law. This Amendment shall be construed in accordance with the laws of the State of California, notwithstanding its conflicts of law provisions.
- Executive Acknowledgment. Executive acknowledges (a) that he has consulted with or has had the opportunity to consult with independent counsel of his own choice concerning this Amendment, and has been advised to do so by the Company, and (b) that he has read and understands this Amendment, is fully aware of its legal effect, and has entered into it freely based on his own judgment.
- Counterparts. This Amendment may be executed in one or more counterparts, all of which taken together constituted one and the same agreement.
| || ||NANOGEN, INC. |
/s/ V. RANDY WHITE
| || || || || |
| || || || ||V. Randy White |
Chief Executive Officer
/s/ MICHAEL D. MOORE
| || || || || |
| || || || ||Michael D. Moore ||Date |