Sample Business Contracts

Employment Agreement [Amendment No. 2] - NetBank Inc. and Charles E. Mapson

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  • 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.
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This Second Amendment to Employment Agreement is dated as of March 14, 2006 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, as amended by the First Amendment to Employment Agreement dated as of March 1, 2004 (collectively, the "Original Employment Agreement") is hereby amended as follows:


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, 2008.


The amendment 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.











/s/ Charles E. Mapson



/s/ Douglas K. Freeman


Name: Charles E. Mapson


  Douglas K. Freeman



  Chairman and Chief Executive Officer