Sample Business Contracts

Employment Agreement [Amendment] - Collins & Aikman Corp. and Michael A. Mitchell

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

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                          COLLINS & AIKMAN CORPORATION
                             250 STEPHENSON HIGHWAY
                              TROY, MICHIGAN 48083

                                October 10, 2003


Mr. Michael A. Mitchell
4968 Driftwood Drive
Comers Township, Michigan  48382


Dear Mike:

         This letter modifies and amends your Employment Agreement with Collins
& Aikman Products Company (the "Company"), dated December 20, 2001 ("Employment
Agreement"). If the modifications and amendments described in this letter are
satisfactory to you, please indicate your acceptance by returning a signed copy
of this letter to the attention of Greg Tinnell, Senior Vice President, Human
Resources, at our Troy headquarters.

         The Employment Agreement recites an initial term that expires on
December 19, 2004. By this letter agreement, you and the Company agree that the
initial term of the Employment Agreement will be extended to the end of business
on July 31, 2005.

         The Employment Agreement will expire at the end of business on July 31,
2005, and such expiration will not be a "Constructive Termination" for purposes
of Section 6(e)(iv) of the Employment Agreement. Any employment with the Company
after July 31, 2005, will be at-will, unless you and the Company subsequently
enter into a new agreement regarding your employment after that date.

         Section 3(a) of the Employment Agreement is amended to increase your
base salary to an annual rate of $450,000.

         You will be eligible for Retirement under the Supplemental Retirement
Income Plan ("SRIP") on the earlier of (i) the date that you satisfy the
eligibility requirements for Retirement under the Plan, or (ii) in the event of
a No Cause or Constructive Termination under the Employment Agreement before the
date that you would otherwise be eligible for Retirement under the SRIP, the
date of such termination. The terms and conditions of the SRIP otherwise
continue to apply, including, without limitation, any adjustments for early


Mr. Michael A. Mitchell
November 6, 2003
Page 2

commencement before age 62. The accelerated vesting described in this paragraph
would relate only to your eligibility for Retirement; it does not affect your
service credit for purposes of calculating the amount of any benefit under
Article IV of the SRIP.

         Except as modified and amended by this letter, your Employment
Agreement remains in effect in accordance with its terms.

                                        Very truly yours,

                                        COLLINS & AIKMAN CORPORATION

                                        /S/ David Stockman

                                        David Stockman, President and
                                        Chief Executive Officer


/S/  Michael A. Mitchell
Michael A. Mitchell

Date: October 13, 2003