Sample Business Contracts

Employment Agreement - Select Comfort Corp. and Mark Kimball

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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April 22, 1999

Mark Kimball
6 Swallow Lane
North Oaks, MN  55127

Dear Mark:

Congratulations on acceptance of our offer for the position of Senior Vice
President, General Counsel, Chief Administrative Officer and Secretary,
reporting to me.

You will be joining Select Comfort Corporation on May 3, 1999. Your annual
salary will be $175,000 and you will participate in the Management Incentive
Plan. We are waiting for final approval on the 1999 plan; however, for the
Senior Vice President level, the 1998 plan was targeted at 58% of base for
on-plan performance with a maximum payout of 100% if certain established
criteria were met. You will also be granted Incentive Stock Options in the
amount of 100,000 shares vested monthly over a 36 month period of employment at
an exercise price of the market price at start date.

Select Comfort is on the brink of an exciting and challenging era and I feel
with your background and skills you will be able to provide a significant
contribution to our company.

As an employee of Select Comfort, you will be eligible for our company benefits
the first of the month following thirty days of employment. Our benefits
include; medical, dental, flex account, life insurance, supplemental life
insurance, short-term disability, long-term disability, travel accident
insurance, Paid Time Off (PTO) and 401(k). You will receive 19 days of Paid Time
Off annually. The details of your benefits package will be reviewed in new hire

It is our expectation, that upon your acceptance and start date with Select
Comfort, you will sign our formal Confidentiality and Non-Compete Agreement. In
the event your employment with Select Comfort is terminated without cause, we
will commit to offer you a one year severance package.

I look forward to you joining the Select Comfort team. Please contact me at
(612)551-7007 with any questions.


Daniel J. McAthie
President and CEO