Sample Business Contracts

Employment Agreement - GT Solar Inc. and Howard Smith

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.
  • More Employment Agreements

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[GT Solar Logo]
  GT Solar Incorporated
243 Daniel Webster Highway
Merrimack, NH 03054, U.S.A.
Phone:    +1 603 883 5200
Fax:         +1 603 595 6993

April 12, 2007

Howard Smith
112 Atlantic Avenue
North Hampton, NH 03862

Dear Howard,

I am pleased to inform you that the GTSolar, Inc. Board of Directors has approved a market-based adjustment to your base salary. Effective April 1, 2007, your new base salary on an annualized basis shall be $205,000. Your target bonus at 100% of plan objectives shall be 40% of your base salary. Details surrounding the bonus plan shall be delivered under separate cover once ratified by the Board of Directors. As is the case with incentive plans, the company reserves the right to amend the terms of the bonus plan including bonus target amounts at any time.

The adjustments to your compensation have been authorized in recognition of the overall growth of our business and are the result of an initiative aimed at gaining improved overall alignment of compensation structures with the market.

Thank you for your contributions to the success or our business. I look forward to our mutual success.


/s/ Thomas Zarrella

Thomas Zarrella
President & Chief Executive Officer

cc:    Personnel File