Sample Business Contracts

Employment Agreement - Select Comfort Corp. and Tracey Breazeale

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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July 21, 1999

Ms. Tracey Breazeale
1518 Judson Avenue
Evanston, IL  60201

Dear Tracey:

This letter confirms a number of conversations we have had over the last few

Select Comfort has offered you and you have accepted a position as Senior Vice
President of Strategic Planning and Branding. In this role, you will be
responsible for development of corporate strategy, coordination of corporate
branding and product management functions, and business development,
particularly as it pertains to distribution channel alternatives.

Your state date is August 2, and you will report to me in my role as interim CEO
and Chairman. You will be a member of the senior management team of Select

Compensation will include:

         1.       A salary of $170,000 per year.

         2.       A $30,000 bonus potential for the remainder of calendar 1999
                  based on your own performance, not previously agreed upon
                  corporate performance goals. The evaluation of this will be
                  based upon subjective variables which we will discuss.

         3.       75,000 incentive stock options which will enable you to
                  purchase shares of Select Comfort's public stock. The plan has
                  been sent to you under separate cover.

         4.       One free Select Comfort mattress set of your choosing, which
                  will save you hours of painful and restless sleep for the rest
                  of your life.

         5.       Moving expenses to Minnesota will be covered as well as
                  temporary housing for up to three months. In addition, the
                  Company will pay the real estate commission on the house you
                  are selling in Evanston.

There are a series of normal employee benefits which I believe you have
discussed with Karen Jones, the Vice President of Human Resources.

We are looking forward to your joining the team at Select Comfort and to the
contributions you are bound to make. This is an exciting, entrepreneurial
environment based on an enormous opportunity to become the leading mattress
company in the country, and we are glad to have you be a part of it.


Patrick A. Hopf