Sample Business Contracts

Employment Agreement - Inc. and Eleanor Krivicic

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

Sponsored Links

                             CONTRACT OF EMPLOYMENT

This Contract of Employment ("Contract") is made as of the 13th day of August
2002 by and between:

EMPLOYER, Inc., a Delaware company whose principal place of business
is at New Enterprise House, St Helens Street, Derby, DE1 3GY United Kingdom
("the Company")

EMPLOYEE  ELEANOR KRIVICIC of 18 Gardenia Drive, Commack, New York 11725 USA

The Company desires to continue to employ you, and you desire to continue to be
employed by the Company. In consideration of the mutual covenants and promises
contained in this Contract, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as


     1.1  Your employment with the Company commenced on May 7, 2002 which is the
          date of commencement ("Commencement Date") of your period of
          continuous employment.

     1.2  You are employed as General Counsel and Secretary of the Company.


     2.1  You will carry out such duties and comply with such instructions
          consistent with your position and status as the Company reasonably
          determines from time to time.


     2.2  You will report to the Chief Operating Officer of the Company or such
          other person as the Company may decide from time to time is


     3.1  Your principal place of work will be at the Company's offices in
          Teaneck, New Jersey, USA, with such time at the Company's headquarters
          in Derby as may be required. The Company may require that you relocate
          to Derby; it is a condition of your employment that you comply with
          any such requirement.


     4.1  Your basic salary will be $175,000 per annum which is payable twice
          monthly in arrears.

     4.2  You will be eligible to receive a discretionary bonus that will be
          calculated at 40% of salary subject to terms and conditions to be
          agreed upon between the parties within three months of the
          Commencement Date.

     4.3  You will be entitled to receive a motor car allowance of $10,000 per
          year payable with salary each month. This allowance is to enable you
          to purchase or lease a motor vehicle for business and private use,
          such vehicle to be approved by the Company as suitably commensurate
          with your status. The allowance will also cover the cost of road fund
          license, insurance premiums and running expenses in respect of the
          motor car including private fuel, oil, maintenance and repairs.

     4.4  In addition, the Company will grant you options to purchase 250,000
          shares of common stock of, Inc. under, and in accordance
          with,, Inc.'s 2001 Stock Incentive Plan and standard stock
          option agreement.


     If you incur travelling expenses (other than travel to and from work),
     accommodation (including overnights stays in New Jersey when required by
     the Company) or other


     expenses in the course of carrying out your duties, you will be reimbursed
     for these by the Company on production of appropriate vouchers or receipts.

     Upon the termination of your employment, upon production of receipts, the
     Company will contribute up to a maximum of $5,000 towards the cost of your
     repatriation from the United Kingdom to the United States.


     Your normal working week will consist of 40 hours (excluding lunch breaks)
     from Monday through Friday, with such additional hours (and without
     additional remuneration) as may be necessary for the proper performance of
     your duties and in order to meet the requirements of the business.


     7.1  You are entitled, in addition to the usual bank and public holidays,
          to 20 working days' paid holiday in each calendar year of employment.
          Where you are employed for part of a calendar year only - either on
          commencement or termination of your employment - you will be entitled
          to paid holiday pro rata to the number of complete calendar months
          worked by you in the relevant calendar year. Your manager must approve
          the dates of your holiday beforehand. Unused holiday entitlement may
          not be carried forward to the next year without the written permission
          of your manager.

     7.2  On the termination of your employment, where you have taken more or
          less than your holiday entitlement as calculated above, an adjustment
          based on your normal rate of pay will be made in your final pay. The
          adjustment will be either by way of deduction if you have taken more
          than your entitlement, or by way of an additional payment where you
          have taken less than your entitlement, calculated on a pro rata basis
          by reference to the number of days' holiday in respect of which such
          adjustment is made.



     8.1  If you are absent from work due to illness or injury or for any other
          reason you must let the Company know by 10.30am on your first day of
          absence that you will be unable to attend. You must also keep the
          Company advised regularly if you continue to be absent and of your
          likely return date. If you are absent due to sickness or injury for
          one day or more, immediately you return to work you must obtain and
          complete a sickness self-certification and submit it to your manager.

     8.2  If you are absent for more than seven consecutive days (including
          Saturdays and Sundays) due to illness or injury you must obtain a
          doctor's certificate where appropriate at your own expense and give or
          send it immediately to your manager. Thereafter any further absence
          must continue to be supported by doctor's certificates.

     8.3  Failure to comply with the above procedures will result in the loss of
          the discretionary element of Company sick pay (referred to below) and
          may also disqualify you from receiving Statutory Sick Pay ("SSP"). For
          the avoidance of doubt the Company will be entitled to terminate your
          employment in accordance with the terms of this Contract (whether with
          or without notice as appropriate in the circumstances) during any
          period of sickness absence.

    8.3.1 Provided that you have complied with the requirements above, the
          Company will continue to pay you at your normal rate of pay during any
          unavoidable absence through sickness or injury (whether continuous or
          intermittent) up to a maximum, in any period of 12 consecutive months,
          of four weeks at full pay and thereafter at the discretion of the
          Company. Any payment made to you under this provision will include any
          entitlement that you may have to receive SSP from the Company. Company
          sick pay will be reduced by the amount of any Social Security benefits
          recoverable by you (whether or not recovered) in respect of your
          illness or injury.


     8.4  Your "qualifying days" for SSP purposes are Monday to Friday

     8.5  The Company will be entitled, at its expense, to require you to be
          examined by an independent medical practitioner of the Company's
          choice at any time (whether or not you are absent by reason of
          sickness or injury) and you agree that the doctor carrying out the
          examination may disclose to and discuss with the Company the results
          of the examination.


     9.1  There is no Company pension scheme and no contracting out certificate
          has been obtained in respect of your employment.

     9.2  You will be eligible for immediate insurance cover under the Company's
          life assurance scheme in both the United States and in the United
          Kingdom, (or any other scheme providing an equivalent benefit) subject
          to the rules of the scheme from time to time and such evidence of
          health as such insurance company may require.

     9.3  You will be eligible for immediate medical and dental insurance in
          both the United States and in the United Kingdom and permanent health



     You acknowledge that you have reviewed and signed a copy of the Invention
     and Non-Disclosure Agreement ("the Non-Disclosure Agreement"). The
     Non-Disclosure Agreement, for the avoidance of doubt, forms part of your


     The Company does not operate a formal disciplinary procedure that is
     applicable to your employment. If you have any grievance in relation to
     your employment you should raise it with your manager in writing. If the
     matter is not resolved you may then take it up in writing with the Chief
     Executive Officer whose decision will be final.


     12.1 Subject as follows the Company can terminate your employment at any
          time by giving you six (6) calendar month's written notice.

     12.2 You may terminate your employment at any time by giving the Company at
          least three (3) calendar month's written notice.

     12.3 The Company may terminate your employment without giving the notice
          referred to in Clause 12.1 by paying you your basic salary and
          pro-rated bonus which for the purposes of this Clause will be
          calculated at 40% of salary and is not discretionary (less any
          applicable deductions) in lieu of the notice period or in lieu of the
          remainder of the notice period if, at the Company's request, you have
          worked during part of the notice period. In addition, payment in lieu
          of notice for purposes of this Clause 12.3 shall mean that any
          unvested stock options granted shall be accelerated as though you had
          been an employee of the Company during the remainder of the notice

     12.4 The Company has the right to terminate your employment without notice
          in the case of just cause. "Just Cause" for termination will mean a
          vote of the Company's Board of Directors, acting in good faith based
          upon the


          information then known to the Company after a reasonable investigation
          (including, at a minimum, review of your written response to the
          information alleged to constitute Just Cause and your opportunity to
          address the Board), that determines that you have committed or engaged
          in repeated intentional misconduct in connection with your duties
          under this Contract, which misconduct is materially and demonstrably
          harmful to the Company's business, or materially breached a term of
          this Contract, which breach is materially and demonstrably harmful to
          the Company's business and which breach remains uncured for thirty
          days after written notice of such breach is delivered to you.


     On request and in any event on termination of your employment for any
     reason you are required to return to the Company all company property
     including any company car, company credit or charge cards, your security
     pass, all keys, computer hard and software including discs and all
     documents in whatever form (including notes and minutes of meetings,
     customer lists, diaries and address books, computer printouts, plans,
     projections) together with all copies which are in your possession or under
     your control. The ownership of all such property and documents will at all
     time remain vested in the Company.


     Your normal retirement age is 65 years and your employment will
     automatically terminate when you reach this age.


     You hereby authorise the Company to deduct from your pay (including holiday
     pay, sick pay, bonus or commission and pay in lieu of notice) any amounts,
     which are owed by you to the Company, or any other company in the Group
     (including any season ticket or other loans, travel allowance, expenses
     float or relocation assistance).



     You must comply at all times with the Company's rules, policies and
     procedures relating to insider trading, equal opportunities, harassment,
     health and safety, compliance, external interests and all other rules and
     procedures introduced by the Company from time to time. Copies of all
     rules, policies and procedures can be obtained from the Company Secretary.
     For the avoidance of doubt such rules, policies and procedures are not
     incorporated by reference into this Contract and they can be changed,
     replaced or withdrawn at any time at the discretion of the Company. Breach
     of any Company rules, policies or procedures may result in disciplinary


     This Contract (and by reference the Invention and Non-Disclosure Agreement)
     contains the entire and only agreement between us and supersedes all
     previous agreements between you and the Company.


     In this Contract "Group" means the Company, any holding company of the
     Company for the time being and any subsidiary (as defined in Section 736 of
     the Companies Act 1985) for the time being of the Company or its holding
     company and "Group Company" means any company in the Group.


     This Contract shall be binding upon and inure to the benefit of both
     parties and their respective successors and assigns, including any
     corporation with which, the Company may be merged or which may succeed to
     the Company's assets or business, provided, however, that your obligations
     are personal and cannot be assigned.


     Failure by any party to require performance of any provision shall not
     affect his or its right at a later time to enforce the same. No waiver or
     breach of any term or covenant in this Contract, whether by conduct or
     otherwise, in any one or more instances shall be construed as a further or
     continuing waiver.



     This Contract will be governed by and interpreted in accordance with the
     laws of the State of Delaware, USA (without reference to the conflict of
     laws provisions thereof).


Signed on behalf of the
Company by        /s/ Martin Clifford                     Date   August 13, 2002

I understand and agree to the terms and conditions of my Contract of Employment
as set out above.

Employee's signature   /s/ Eleanor Krivicic               Date   August 13, 2002