Sample Business Contracts

Employment Agreement - American Greetings Corp. and Pamela Linton

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

                              EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT is made at Cleveland, Ohio, this 30th day of May,
2001, by and between AMERICAN GREETINGS CORPORATION, an Ohio corporation
(Corporation) and Pamela Linton (Employee).

         In consideration of the covenants hereinafter set forth, the parties
hereto mutually agree as follows:

         1.       Subject to the provisions hereof, the Corporation shall employ
                  Employee as Senior Vice President, Human Resources of the
                  Corporation, either elected by the Board of Directors or
                  appointed by the Executive Committee with such duties and
                  responsibilities as may be assigned to her from time to time
                  by the Board of Directors or the Executive Committee of the
                  Board of Directors of the Corporation and Employee shall
                  devote her full business time and attention and give her best
                  efforts to the business affairs of the Corporation as the
                  Board of Directors or the Executive Committee of the Board of
                  Directors of the Corporation may from time to time determine.
                  Employee recognizes that in serving as an officer of the
                  Corporation, she serves in such capacity solely at the
                  pleasure of the Board of Directors or the Executive Committee
                  of the Board of Directors of the Corporation and that her
                  employment in such capacity or in any other capacity may be
                  terminated at any time by the Board of Directors or the
                  Executive Committee of the Corporation.

         2.       The Corporation shall, during the term of this Employment
                  Agreement, pay to Employee as minimum compensation for her
                  services a base salary at a rate to be fixed by the Board of
                  Directors or the Executive Committee of the Board of Directors
                  or the Chairman of the Executive Committee, which rate shall
                  not be less than $300,000.00 per year, plus such additional
                  compensation as the board of Directors or the Executive
                  Committee of the Board


                  of Directors or the Chairman of the Executive Committee may
                  from time to time determine.

         3.       Employee covenants and agrees that in consideration of her
                  employment as an officer of the Corporation, she will not for
                  a period of twelve months after leaving the employ of the
                  Corporation, regardless of the reason for such leaving, enter
                  into the employment, directly or indirectly or in a consulting
                  or freelance capacity, of any person, firm or corporation in
                  the United States or Canada, which at such date of leaving the
                  employ of the Corporation or a subsidiary shall be
                  manufacturing or selling products that are substantially
                  similar in nature to the products being then manufactured or
                  sold by the Corporation or the subsidiary.

         4.       In the event that the employment of Employee under this
                  Employment Agreement is terminated by the Corporation, the
                  Corporation covenants and agrees that it shall pay or cause to
                  be paid to Employee a continuing salary at a rate which shall
                  be the highest base salary rate paid Employee during the
                  preceding six-month period for a period of time equivalent to
                  one-half month for each year of employment by the Corporation,
                  but in no event to be less than a period of three months nor
                  greater than a period of twelve months. The provisions of this
                  paragraph shall not be applicable if the Employee is
                  terminated for cause.

         5.       In the event that Employee shall cease to be employed as an
                  officer of the Corporation, but shall continue in the employ
                  of the Corporation or a subsidiary, then this Employment
                  Agreement shall terminate twelve months after the date that
                  Employee ceases to be employed as an officer of the

         6.       I, the Employee, agree that during the period of my employment
                  and thereafter, I will keep confidential and will not disclose
                  any information, records, documents or trade secrets of the
                  Corporation acquired by me during my employment, and except as
                  required by my


                  employment, will not remove from the Corporation's premises
                  any record or other document relating to the business of the
                  Corporation, or make copies thereof; it being recognized by,
                  me that such information is the property of the Corporation.

         7.       This Agreement shall be applied and interpreted under the laws
                  of the State of Ohio.


     BY:  /S/ JAMES SPIRA                         /S/ PAMELA L. LINTON
         --------------------                     ------------------------
              PRESIDENT                                   EMPLOYEE



This Amendment is to the Employment Agreement (Agreement) between American
Greetings Corporation (Corporation) and Pamela Linton (Employee), dated May 31,
2001. In consideration of the mutual promises of the parties in the Agreement
and herein, the parties agree as follows:

1.       TERM OF AMENDMENT. The term of this Amendment shall be June 4, 2001,
         through and including July 4, 2004.

2.       DEFERRAL. From the base salary paid to Employee under the Agreement, an
         annual sum of $50,000 shall be deferred during the three year of this
         Amendment. These sums can be deferred from base salary or bonuses or
         some combination thereof and shall be placed in the Executive Deferred
         Compensation Plan (Plan). The cumulative three year total or such
         lesser prorated amount if Employee leaves the employ of the Corporation
         prior to the end of the three year term of this Amendment, plus any
         Plan earnings shall be paid. to Employee in a lump sum within five (5)
         days of the date of termination. The deferred amount shall be payable
         regardless of whether Employee has been terminated with or without
         cause or leaves of her own volition.

3.       SEVERANCE. If Employee is terminated without cause during the first 18
         months of this Amendment's three year term, in addition to any other
         amounts payable, she will receive a severance payment of $450,000
         (Severance), payable within five (5) days of the date of termination.
         If Employee is terminated without cause between the start of the 19th
         month and the end of the 36th month of such three year term, she will,
         in addition to any other amounts payable, receive Severance that is
         reduced by 1/18 for each full month after the

         18th month during which Employee is employed by the Corporation. Thus,
         for example, if Employee were terminated without cause at the start of
         the 25th month, her Severance would be reduced by 6/18ths (the
         numerator being the six months between the start of the 19th month and
         end of the 24th month). No Severance is due or payable to Employee if
         at any time during such three year term Employee is terminated for
         cause or leaves the employ of the Corporation voluntarily and without
         good cause attributable to the Corporation, the latter to include the
         Corporation's material breach of the Agreement or this Amendment. This
         paragraph 2. supersedes paragraph 4. of the Employment Agreement of May
         30, 2001, between Employee and the Corporation.

4.       BONUSES, BENEFITS AND STOCK OPTIONS. During the term of her employment,
         Employee shall be entitled to such bonuses, benefits and stock options
         that generally inure to senior vice presidents of the Corporation under
         the applicable plans and policies so long as she is employed at that

5.       FOR CAUSE. As used herein, "for cause" is defined as termination as a
         result of Employee's personal dishonesty, willful misconduct, breach of
         fiduciary duty involving personal profit, intentional failure to
         perform stated duties, willful violation of any law, rule, or
         regulation (other than traffic violations and similar offenses) or
         final cease-and-desist order, or other behavior or actions that a
         reaqsonable person would conclude evidences moral turpitude The
         Corporation may also terminate Employee's employment under this
         provision for gross incompetence or intentional failure or refusal to
         perform stated duties, but only after all of the following have

         a.       Employee has been provided written notice specifying same;

         b.       Employee has been given a reasonable period of time (not to
                  exceed 90 days) 2 in which to cure such specified gross
                  incompetence, failure or refusal; and

         c.       Employee shall have failed to cure same to the Corporation's
                  reasonable satisfaction.


By: /s/ James Spira                         By: /s/ Pamela L. Linton
    -------------------------                   -----------------------------
       President                                  Employee