Sample Business Contracts

Employment Agreement - SmartBargains Inc. and Steven S. Nezer

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.
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  • 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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SmartBargains, Inc.
10 Milk Street, 10th Floor
Boston, MA  02108

Tel: 617.695.7300  Fax 617.695.7391

January 9, 2004

Steven S. Nezer
56 Potter Pond
Lexington, MA  02421

Dear Steven:

I am pleased to outline SmartBargains' offer of employment to you as Executive
Vice President and Chief Technology Officer. Your anticipated start date is
Friday, January 16, 2004.

At SmartBargains, your compensation will consist of three components:

-     Your weekly base salary will be $4,807.69, which when annualized will be

-     You will participate in next year's Management Incentive Plan at a level
      commensurate with other senior executives.

-     Subject to the approval of the Company's Board of Directors and pursuant
      to the terms of our 2000 Stock Option Plan, you will be offered incentive
      stock options to purchase 576,033 common shares of the Company. The strike
      price of the options will be based on the fair market value as determined
      by the Board of Directors as soon as possible after your hire date.

In addition, you will be eligible for SmartBargains' standard benefits programs.

You would be considered to be an at-will employee, and although we presently
have no intention of doing so, the terms of this letter may be modified if
necessary based on business conditions. If you are terminated from the Company
for any reason other than "for cause" as defined by the Company, you will be
eligible for the following severance schedule, subject to receipt of a signed
Separation Agreement and Release of Claims. If you are terminated before you
have completed six months of service, you will not be eligible for any severance
pay. If you are terminated without cause between six months and one year of
service, you will be eligible to receive three months of severance pay. If you
are terminate without cause after one year of service, you will be eligible to
receive six months of severance pay.
If you would like to accept this offer, please sign below and return the letter
and the enclosed Confidentiality and Non-Competition Agreement to my attention.
We would love to have you as part of our team, and the group is looking forward
to working with you!


/s/ Kathy Robinson

Kathy Robinson
Director of Human Resources

Signed and Agreed:

/s/ Steven Nezer                                  1/18/04
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