Sample Business Contracts
Employment Agreement - Informix Software Inc. and Peter Gyenes
- 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
[LETTERHEAD OF INFORMIX]
July 31, 2000
Mr. Peter Gyenes
40 Heath Hill
Brookline, MA 02146
This letter confirms the recent actions of the Compensation Committee of the
Board of Directors. Effective July 14, 2000, your annual base compensation is
$600,000, payable in equal, semi-monthly installments. You will also
participate in the Executive Incentive Compensation Plan, effective July 1,
2000, at a target incentive of 100% of this annual base. For fiscal 2000, 25%
of this annual target incentive shall be guaranteed.
The Board of Directors has approved a non-qualified stock option under the
Corporation's 1994 Stock Option and Award Plan of 1,500,000 shares, priced on
July 13, 2000 at $4.9375. Twenty-five percent (25%) of these options shall be
exercisable on or after the first anniversary of the effective date, and an
additional 2.08% shall be exercisable on or after each one-month anniversary
You will also receive a retention bonus of $875,000, payable immediately,
with an equal retention bonus payment of $875,000 to be paid on April 15,
2001, pending your active continuance in your executive management position
at that time. Your involuntary termination or a Change of Control prior to
April 15, 2001 will accelerate the second payment to the date of your actual
For the Compensation Committee
/s/ Wayne E. Page
Wayne E. Page
Vice President-Human Resources