Sample Business Contracts

Employment Agreement - 4Kids Productions Inc. and Norman Grossfeld

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.
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                            4KIDS PRODUCTIONS, INC.

January 10, 1996

Mr. Norman Grossfeld
7 Westwood Circle
Irvington, New York 10533

Re: Employment With 4Kids Productions

Dear Norman:

Following up on our recent conversations, I would like to set out your new
compensation structure effective January 1, 1996 through December 31, 1997 as

1. Annual salary of $200,000 to be paid in 24 equal semi-monthly payments. It is
our mutual understanding that you have indicated this salary will be fully
allocated and included in show budgets produced by 4Kids Productions.

2. Annual advance against bonus of $50,000 to be paid along with the annual
salary payments.

3. Bonus paid at 10% of 4Kids Productions pre-tax profits. It is our mutual
understanding that all television and home video produced by 4Kids
Entertainment or affiliates will run through 4Kids Productions.

4. You and your eligible dependents will be entitled to receive all medical and
health care benefits offered to full time employees.

5. You shall be entitled to reimbursement of all of your ordinary and reasonable
business expenses incurred by you.

6. You will also be eligible to participate in the Company's stock option plan.
Any such options granted thereunder are at the discretion of the option
committee of the board of directors.

7. On the termination of your employment, you agree that any projects you have
been working on during the term of this agreement remain the property
exclusively of 4Kids Productions and after termination you will not take any
actions which would adversely affect 4Kids Productions.

Finally, you shall be entitled to three weeks vacation that should be used
during the calendar year since vacation time is not rolled over to the next
succeeding year.

We look forward to a long mutually beneficial business relationship. If ever I
could be of any assistance to you, please do not hesitate to call.

4Kids Productions, Inc.                      Accepted /s/ Norman Grossfeld
By: /s/ Alfred R. Kahn CEO                                Norman Grossfeld
Alfred R. Kahn CEO