Sample Business Contracts

Employment Agreement - Internet Capital Group Inc. and Henry Nassau

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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December 11, 2002

Henry Nassau
113A Swedesford Road
Wilson Farm
Malvern, PA 19355

Dear Henry,

The Board of Directors and I place a high priority upon retaining your services
to ICG and in rewarding for your valuable contributions. In addition your
advice, guidance, and perspective have been invaluable to members of our
management team.

Therefore, I am very pleased to communicate changes to your compensation and
terms of employment approved by the Compensation Committee. All other employment
terms and conditions remain the same.

         -        A promotion to Chief Operating Officer effective January 1,

         -        A target bonus of 150% beginning effective beginning for
                  fiscal year 2002.

         -        A modification of your severance agreement dated September 20,
                  2001 which adds "a voluntary resignation six months after the
                  naming of any individual other than Walter Buckley as Chief
                  Executive Officer, or any individual other than yourself as
                  President or Chief Operating Officer prior to December 31,
                  2005", as an eligible termination for severance benefits.

         -        A stock option grant of 950,000 shares priced at $0.23.
                  500,000 of these stock options will vest 25% after one year
                  and the remainder will vest monthly over next three years.
                  225,000 of these stock options cliff vest 100% after four
                  years with accelerated vesting upon achievement of specific
                  Core Partner Company positive EBITDA for two consecutive
                  quarters. 225,000 stock options will cliff vest 100% after
                  four years with accelerated vesting upon achievement of
                  specific ICG net income for two quarters. You will shortly
                  receive stock option certificates and materials detailing the
                  full terms and conditions of this stock option grant.

My belief is that the current ICG team, including you, is outstanding and will
drive our success against our business plan. I sincerely thank you for your
dedication, commitment, and personal support through the challenges I have faced
over the last three years. I look forward to working with you even more closely
in your new role and have the greatest confidence in our future success as a


/s/Walter Buckley
Chairman and Chief Executive Officer

cc: employee file