Sample Business Contracts

Employment Agreement - Net2Phone Inc. and Glenn Williams

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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                                   MEMORANDUM


From:  Stephen M. Greenberg

To:  Glenn Williams

Re:  Amendment to Employment Agreement

Dated:  December 20, 2002

         This is to confirm to you that, effective January 1, 2003, your
existing Employment Agreement ("Agreement") with Net2Phone, Inc, is hereby
amended as follows:

         1.       The term of the Agreement shall expire December 31, 2005.

         2.       Your Base Salary shall be $195,000.00 per annum, subject to
                  such increases as the Board of Directors or its Compensation
                  Committee may approve from time to time.

         3.       You shall report directly to the Chief Executive Officer of
                  the Company.

         4.       Upon termination of your Employment Agreement for any reason,
                  except for termination by the Company for Cause or termination
                  by you without Cause, all vested Options to purchase shares of
                  the Company's Common Stock held by you on the date of
                  termination shall be exercisable until the 10th anniversary
                  dates of their respective grants.

         Except as specifically otherwise provided for herein, the terms and
conditions of your existing Agreement are hereby ratified and confirmed and
remain in full force and effect.

   Net2Phone, Inc.                                 Accepted and Agreed

   By: /s/ Stephen M. Greenberg                    /s/  Glenn Williams
      ----------------------------                 ------------------------
      Stephen M. Greenberg, CEO                    Glenn Williams