Sample Business Contracts

Employment Agreement [Amendment No. 8] - Mikohn Gaming Corp. and David J. Thompson

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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                    EIGHTH AMENDMENT TO EMPLOYMENT AGREEMENT
                    ----------------------------------------

         THIS EIGHTH AMENDMENT TO EMPLOYMENT AGREEMENT, is made and entered into
as of the 19th day of November, 2001, by and between MIKOHN GAMING CORPORATION
("MIKOHN") and DAVID J. THOMPSON ("Employee").

                              W I T N E S S E T H:

         WHEREAS, MIKOHN and Employee deem it to be in their respective best
interests to amend that certain Employment Agreement, as amended, entered into
as of October 17, 1988, between MIKOHN and Employee (the "Agreement").

         NOW, THEREFORE, in consideration of the premises and the mutual
promises and agreements contained herein, it is hereby agreed as follows:

         1.       Section 4 of the Agreement shall be deleted in its entirety
and replaced with the following:

                  4.     Term.  This  Agreement  shall commence on the effective
                         ----
         date and shall expire on December 31, 2006.

         2.       The schedule set forth in Section 5 shall be amended to show:

                           Calendar Year  Base Salary
                           -------------  -----------

                           2002           $435,000
                           2003           $455,000
                           2004           $475,000
                           2005           $495,000
                           2006           $515,000

         3.       The last sentence of Section 11 shall be deleted and replaced
         with the following:

         Upon the termination of this Agreement by MIKOHN without good cause,
         MIKOHN shall pay to Employee the sum of $1,000,000 plus the greater of
         [1] a sum equal to Employee's Base Salary for the most recent calendar
         year or [2] a sum equal to the Base Salary payable to Employee over the
         remaining term of this Agreement. Any sum payable under this Section
         shall be paid in full upon the effective date of the termination of the
         employment relationship between MIKOHN and Employee. Upon the
         expiration of this Agreement without renewal by MIKOHN, MIKOHN shall
         pay to Employee a sum equal to Employee's Base Salary for the most
         recent calendar year. Said sum shall be paid in full upon the effective
         date of the termination of the employment relationship between MIKOHN
         and Employee.
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have read, understood, and
voluntarily executed this Eighth Amendment to Employment Agreement as of the day
and year first above written.

EMPLOYEE                                         MIKOHN GAMING CORPORATION

/s/ David J. Thompson                            By: /s/ Charles H. McCrea
------------------------------                      -----------------------
DAVID J. THOMPSON
                                                 Title: Secretary
                                                       --------------------

Date:________________________                    Date:_____________________