Sample Business Contracts

Employment Agreement [Amendment No. 2] - Take-Two Interactive Software Inc. and Ryan A. Brant

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

Sponsored Links

         Amendment No. 2 to Employment Agreement dated as of August 1, 2000 (the
"Agreement"), as amended, between Take-Two Interactive Software, Inc. (the
"Employer" or the "Company") and Ryan A. Brant ("Employee").

         WHEREAS, the Company and Employee desire to amend the terms of the

         NOW, THEREFORE, in consideration of their mutual promises, the Company
and Employee hereby agree as follows:

         1.  Section I. of the Agreement is hereby amended to extend the Initial
Term until July 31, 2005.

         2.  Section III. A. of the Agreement is hereby amended by substituting
$600,000 for $400,000.

         3.  Section III. B. of the Agreement is hereby amended to read as

             "The Employee shall be paid a bonus of $100,000 per fiscal
quarter for each quarter which the Company meets or exceeds First Call Estimates
of earnings per share, provided that any bonus not earned during the year would
be deemed earned and payable if for the entire fiscal year the Company's
earnings per share exceeds the First Call Estimates. In addition, Employee is
entitled to an additional bonus of $250,000 if, at the end of a fiscal year, the
Company's earnings per share exceeds the First Call Estimates by 110%. The
additional $250,000 bonus will be prorated if, and to the extent, the Company's
earning per share exceeded First Call Estimates (i.e., if the Company's earning
per share for the fiscal year was 102% of the First Call Estimates, the Employee
would be entitled to an additional bonus of $50,000). In addition, as an
additional incentive for Employee to continue as Chief Executive Officer and
Chairman of the Company, the Employee shall be paid a cash bonus of $500,000
payable immediately, but subject to a pro rata forfeiture if Mr. Brant resigns
as Chairman of the Board prior to October 31, 2001."

         4.  The second sentence of Section III. C. is hereby amended to read
as follows:

         "The Employee shall be entitled to receive fully vested options to
purchase 100,000 shares of common stock at an exercise price equal to the fair
market value of the common stock."

         All other terms and provisions of the Agreement remain unchanged in
full force and effect.

Dated:  January 1, 2001             TAKE-TWO INTERACTIVE SOFTWARE, INC.


                                                   Ryan A. Brant