Sample Business Contracts

Employment Agreement - Biogen Inc. and James L. Vincent

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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                            [BIOGEN, INC. LETTERHEAD]



                                           March 10, 2000

Mr. James L. Vincent
7 Audubon Road
Weston, MA 02193

Dear Jim:

     This letter will serve as notice that Biogen, Inc. would like to extend
your chairmanship of the Board of Directors under the terms of the letter
agreement dated November 21, 1996 (the "Letter Agreement") amending your
Employment Agreement dated as of September 23, 1985 (the "Employment
Agreement"), provided, that, notwithstanding the extension term specified in the
Letter Agreement, your chairmanship will continue after the end of the Initial
Chairmanship Term on February 14, 2001 until the Annual Meeting to be held in
2004 (the "Extended Term"), unless earlier terminated by your resignation or
earlier removal.

     During the Extended Term, after appointment of a successor Chief Executive
Officer, your duties as Chairman will once again consist of those activities
specified under Section 1 of the Letter Agreement.

     All other terms of the Letter Agreement and the Employment Agreement, as
amended by the Letter Agreement and this letter, shall apply during the Extended
Term.

     If you agree with extension of your chairmanship on the above terms, please
execute this letter and the enclosed copy in the space provided below.

                                            Sincerely,

                                            Biogen, Inc.

Date: March 10, 2000                          By:  /s/ Roger H. Morley
     ------------------                          -------------------------------
                                                  Roger H. Morley
                                                  Chairman, Compensation and
                                                  Management Resources Committee

Date: March 10, 2000                          By:  /s/ Harold W. Buirkle
     ------------------                          ---------------------------
                                                  Harold W. Buirkle
                                                  Member, Compensation and
                                                  Management Resources Committee


<PAGE>   2


Date: March 10, 2000                          By:  /s/ Phillip A. Sharp
     ------------------                          -------------------------------
                                                  Phillip A. Sharp
                                                  Member, Compensation and
                                                  Management Resources Committee

Date: March 10, 2000                          By:  /s/ Mary L. Good
     ------------------                          -------------------------------
                                                  Mary L. Good
                                                  Member, Compensation and
                                                  Management Resources Committee



Acknowledged and agreed

/s/ James L. Vincent
--------------------------
James L. Vincent

Date:  March 10, 2000
     ---------------------