printer-friendly

Sample Business Contracts

Employment Agreement [Amendment No. 1] - NetBank Inc. and Charles E. Mapson

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

Sponsored Links

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT


This First Amendment to Employment Agreement is dated as of March 1, 2004 by and between NetBank, Inc. (the "Company") and Charles E. Mapson (the "Executive").

 

The Employment Agreement between the Company and the Executive dated as of April 1, 2002 (the "Original Employment Agreement") is hereby amended as follows:

 

1.  Amendment to Term.  Section 1.10 of the Original Employment Agreement defining the term "Term" is hereby amended and restated to read as follows:

 

"1.10                     “Term" means the period commencing on the date hereof and ending on April 1, 2006.”

 

2.  Base Salary; Incentive Compensation.   The terms "Base Salary" and "Incentive Compensation" as defined in Sections 1.4 and 4.2(a), respectively, are hereby amended to reflect whatever Base Salary and Incentive Compensation that is determined by the Chief Executive Officer and approved by the Compensation Committee, from time to time; provided, however, that so long as the Executive performs his or her duties and obligations satisfactorily, neither the Base Salary nor the target percentage of Incentive Compensation shall be decreased, without the written consent of the Executive.

 

3.  Amendment to Reflect Paid Time Off.   Section 4.3(c) of the Original Employment Agreement setting forth benefits for vacation time is hereby amended and restated to read as follows:

 

"(c)   On a non-cumulative basis, the Executive shall be entitled to such days of paid time off each year as prescribed for similarly situated officers, during which his compensation shall be paid in full, and which shall be taken as approved in advance by the Company, taking into account the requirements of the Company."

 

The amendments set forth above shall be effective immediately.  All other terms and provisions of the Original Employment Agreement shall remain unaffected by this Amendment.

 

IN WITNESS WHEREOF, the undersigned have hereunto set their hands as of the date first above written.

 

COMPANY:

EXECUTIVE:

 

 

NETBANK, INC.

 

 

 

 

 

 

/s/ Charles E. Mapson

 

By:

/s/ Douglas K. Freeman

 

Name:  Charles E. Mapson

 

Douglas K. Freeman

 

 

Chairman and Chief Executive Officer