Sample Business Contracts

Employment Agreement [Amendment] - Albertson's Inc. and Peter L. Lynch

Employment Forms

Employment Contract. 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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                                       April 23, 2001



Peter L. Lynch
Albertson's, Inc.
250 E. Parkcenter Blvd.
Boise, ID   83706

Dear Peter:

     This letter sets forth our agreement and  understanding  of an amendment to
the letter  agreement  entered  into  between  you and  Albertson's,  Inc,  (the
"Company") on January 26, 2001 (the "Agreement").

     Paragraph 1(a) of the Agreement is amended by adding the following sentence
to the end of such paragraph:

     Upon your Termination Date, you will become vested in 100% of your award of
100,000 deferred stock units granted to you on April 23, 2001.

     All of the terms of the Agreement, as modified herein, shall remain in full
force and effect.

     This   amendment  to  the   Agreement  may  be  executed  in  one  or  more
counterparts,  or duplicates of originals,  all of which, taken together,  shall
constitute one and the same instrument.

     If  this  statement  of  the  Company's   understanding  conforms  to  your
understanding, please execute and return the enclosed copy of this letter to me.

                                       Very truly yours,

                                       ALBERTSON'S, INC.


                                       /s/  Michael F. Reuling
                                       Michael F. Reuling
                                       Vice Chairman of the Company


<PAGE>

Peter L. Lynch
April 23, 2001
Page 2




     By signing this agreement, I acknowledge that I have read this amendment to
the Agreement and  understand  its terms and that I entered into this  agreement
freely, voluntarily, and without coercion.

Agreed and accepted as of the 23rd day of April 2001 in Boise, Idaho.



      /s/  Peter L. Lynch
-----------------------------
           Peter L. Lynch