Sample Business Contracts

Employment Agreement - Blockbuster Inc. and Alva J. Phillips Jr.

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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December 7, 2000


Mr. Alva J. Phillips, Jr.
2610 Allen Street No. 1402
Dallas, Texas 75204

Dear Joe:

I would like to confirm your continued eligibility and participation in the
following compensation programs connected with your Blockbuster Inc. employment,
in addition to those described in your employment agreement, effective as of the
date of such employment agreement. This letter will serve as an addendum to your
employment agreement with Blockbuster Inc.

Salary Increases
----------------

For the year 2001, your annual salary increase will be no less than $20,000 per
year.

Retention Bonus
---------------

For the year 2001, you will be paid a retention bonus of $50,000 based on the
following criteria: (1) 60% of the bonus if you are in "good standing" with the
company; and (2) 40% of the bonus for accomplishment of key objectives.

Joe, if the foregoing correctly sets forth your understanding, please sign one
copy of this letter and return it to me whereupon this letter shall constitute a
binding agreement between you and Blockbuster.



Sincerely yours,

/s/ Larry J. Zine

Larry J. Zine
EVP, Chief Financial Officer


Accepted and Agreed:

/s/ Alva J. Phillips, Jr.
---------------------------
Alva J. Phillips, Jr.


12/20/2000
---------------------------
Date