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Sample Business Contracts

Employment Agreement - Concord EFS Inc. and Norman Bennett

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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[CONCORD EFS, INC. LETTERHEAD]

 

April 25, 2002

 

Norman Bennett

6539 Pidgeon Hall

Memphis, TN 38119

 

Dear Norman:

 

Confirming our telephone conversation of today, our offer of employment dated April 25, 2002 is hereby amended as follows.

 

The position as offered is a Senior Vice President, Treasury, reporting directly to Ed Labry. Based on our conversation, your tentative start date with us will be April 29, 2002 and your work schedule will be Monday through Friday, 8:00 a.m. to 5:00 p.m., subject to change based on business needs.

 

This is an exempt position. Your salary will be $150,000 annualized or $5,769.24 bi-weekly.

 

You will also be eligible, upon board approval, for a bonus between the amount of $40,000-$60,000 in 2003 based on your overall job performance.

 

Additionally, upon board approval, you will be granted 25,000 stock options in accordance with the 1993 Concord EFS, Inc. Incentive Stock Option Plan, as amended, subject in all respects to the terms of the Plan and the Option Agreement evidencing this grant.

 

If you are in agreement with the terms of this amended offer, please read and sign the enclosed copy of this letter and return within twenty-four (24) hours of receiving this information.

 

I am pleased to welcome you to our staff, and hope that you will enjoy your association with Concord EFS, Inc.

 

Sincerely,

 

/s/ Tina Akin

 

Tina Akin

Recruiter

 

/s/    Norman Bennett

  

4/29/02

Name

  

Date

 

cc: Ed Labry