Sample Business Contracts

Employment Agreement [Amendment No. 1] - Juno Online Services Inc. and Charles Ardai

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.
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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.
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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                     FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT dated as of the 29th day of February
2000 between Juno Online Services, Inc. (the "Company") and Charles Ardai (the
"Employee").

WHEREAS, the Company and the Employee are parties to an Employment Agreement
dated as of April 26, 1999 (the "Employment Agreement") pursuant to which the
Employee is employed by the Company;

WHEREAS, the Company and the Employee desire to amend the Employment Agreement.

NOW THEREFORE, in consideration of the premises and mutual covenants contained
herein, and for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties agree as follows:

1.   AMENDMENT TO COMPENSATION PROVISIONS. Section 2 of the Employment Agreement
     is amended as follows:

     a.   In Section 2(a), the Compensation Period shall begin on January 1,
          2000 and shall end on December 31, 2000.

     b.   In Section 2(a), the figure set forth as the Employee's base salary
          shall be replaced with $225,000. This new figure shall remain subject
          to all of the provisions of Section 2(a).

     c.   Section 2(b) shall be replaced in its entirety with the following:

               "(b) SEMI-ANNUAL BONUS DURING THE COMPENSATION PERIOD. As
               compensation for the Employee's services during the Compensation
               Period, the Company shall pay the Employee a semi-annual bonus of
               $50,000 on or about June 30 and December 31 of each year during
               the Compensation Period, provided that Employee is employed by
               the Company on such date."

2.   NO OTHER AMENDMENTS. Except as expressly amended as provided herein, the
     Employment Agreement shall continue to be, and shall remain, in full force
     and effect



<PAGE>


     in accordance with its terms.

3.   SEVERABILITY. The holding of any provision of this amendment to be illegal,
     invalid or unenforceable by a court of competent jurisdiction shall not
     affect any other provision of this amendment, which shall remain in full
     force and effect.

4.   GOVERNING LAW. This amendment shall be governed by, and construed and
     interpreted in accordance with, the laws of the State of New York (without
     regard to conflicts-of-laws-principles.)

IN WITNESS WHEREOF, the parties have executed this First Amendment as of the
date first written above.

JUNO ONLINE SERVICES, INC.

By: /s/ David E. Shaw
   ----------------------------------
        David E. Shaw
        Chairman of the Board of Directors

EMPLOYEE:

    /s/ Charles Ardai
   ----------------------------------
        Charles Ardai