Sample Business Contracts

Employment Agreement [Amendment No. 3] - CMGI Inc. and David S. Wetherell

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.
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                                  CMGI, INC.


                                        August 3, 2001

Mr. David S. Wetherell
CMGI, Inc.
100 Brickstone Square
Andover, MA 01810

Dear Dave:

     This Amendment No. 3 to Employment Agreement amends the Employment
Agreement between you and CMGI, Inc. (the "Company"), dated as of November 9,
1993, as amended (the "Employment Agreement").  In consideration of the premises
herein contained and other good and valuable consideration, you and the Company
agree as follows:

     1.   Amendment of Employment Agreement.  Section 3A of the Employment
Agreement is hereby deleted in its entirety and replaced with following which is
effective as of August 1, 2001:

     "3A. Base Salary.  As compensation for your services, the Company shall pay
to you a Base Salary at the annual rate of $1.00 plus such amounts as are
determined by the Board (or the Human Resources and Compensation Committee
thereof) as necessary to cover your Medicare, auto lease, medical, dental,
vision and similar deductions, plus such additional amounts as may be determined
from time to time by the Board (or the Human Resources and Compensation
Committee thereof) in its sole discretion and designated as increases in Base
Salary. Any such increase in Base Salary may not be subsequently reduced or
eliminated without your consent, except as part of a general reduction of
executive salaries."

     2.   Continuing Effect of Employment Agreement.  Except as amended hereby,
the Employment Agreement shall remain in full force and effect.

                                   * * * * *

     IN WITNESS WHEREOF, you and the Company have caused this Agreement to be
executed as of the date set forth above.

                                                       CMGI, INC.

                                                       By: /s/ Jeffrey Yanagi
                                                       Name: Jeffrey Yanagi
                                                       Title: EVP HR

                                                       ACCEPTED AND AGREED TO:

                                                       /s/ David S. Wetherell
                                                       David S. Wetherell