Sample Business Contracts

Employment Agreement [Amendment No. 1] - America's Favorite Chicken Co. and Frank J. Belatti

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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              America's Favorite Chicken Company (the "Company")
                         Frank J. Belatti ("Employee")

     WHEREAS, the Company and Employee entered into an Employment Agreement
dated November 5, 1992 (the "Employment Agreement") governing the terms and
conditions of Employee's employment with the Company; and

     WHEREAS, the Company and Employee desire to amend certain provisions of the
Employment Agreement;

     NOW, THEREFORE, in consideration of the premises and mutual covenants
contained herein and for other good and valuable consideration, the parties
agree as follows:

     1.    Section 1 of the Employment Agreement is hereby deleted in its
entirety and the following new Section 1 is inserted in lieu thereof:

          1.    Term of Agreement.

               (a) The initial term of this Agreement and Employee's employment
          hereunder shall continue through and including November 5, 1995.

               (b) The extended term of this Agreement and Employee's employment
          hereunder shall commence as of November 5, 1995 (the "Amendment Date")
          and, unless earlier terminated pursuant to Section 9 hereof, shall
          continue for a period of three (3) years (the "Term"). The Term of
          this Agreement and Employee's employment hereunder will automatically
          be extended for an additional one-year following the expiration of
          each year of employment hereunder (the "Renewal Date"), without
          further action by Employee or the Company unless written notice not to
          renew for an additional one year period is given by either the Company
          or Employee to the other not less than one year prior to the Renewal
          Date. In the event a notice not to renew is given by one party to the
          other as provided in the immediately preceding sentence, then the
          automatic extension of the Term shall thereafter no longer be of any
          further force or effect; and in the event such notice not to renew is
          given by the Company to Employee, Employee may, at his option,
          terminate this Agreement and his employment hereunder at any time
          during the remaining Term hereof and receive the severance benefits
          set forth in Sections 9.03 and 9.05 of this Agreement.

     2.    Section 2.01 of the Employment Agreement is hereby deleted in its
entirety and the following new Section 2.01 is inserted in lieu thereof:
          2.01 Position. Employee shall serve as Chairman of the Board of
     Directors and Chief Executive Officer of the Company and shall perform such
     duties consistent with his position as may be assigned to him from time to
     time by the Board of Directors of the Company.

     3.    Section 3 of the Employment Agreement is hereby deleted in its
entirety and the following new Section 3 is inserted in lieu thereof:

          3.    Base Salary.

          Beginning on the Amendment Date and continuing during the term hereof,
     the Company shall pay Employee, in equal installments no less frequently
     than monthly, a base salary at the rate of no less than Four Hundred Thirty
     Thousand Dollars (U.S.$430,000.00) per annum. Employee's base salary shall
     be reviewed by the Board of Directors of the Company on an annual basis.

     4.    Section 22 of the Employment Agreement is hereby amended by deleting
the address for notice to the Company set forth therein and inserting the
following address in lieu thereof:

               America's Favorite Chicken Company
               Six Concourse Parkway
               Suite 1700
               Atlanta, Georgia 30328-5346

     5.    The Employment Agreement, as amended hereby, is hereby reaffirmed and
restated herein by the undersigned, and said Employment Agreement is hereby
incorporated herein by reference as fully as if set forth in its entirety in
this First Amendment.

     IN WITNESS WHEREOF, the Company has caused this Amendment to be executed
and Employee has hereunto set his hand this 4th day of December, 1995, as of
November 5, 1995.


                                    AMERICA'S FAVORITE CHICKEN COMPANY

                                    By: /s/ Dick R. Holbrook
                                       Dick R. Holbrook, President


                                      /s/ Frank J. Belatti
                                    FRANK J. BELATTI