Sample Business Contracts

Employment Agreement - US Airways Inc. and Stephen M. Wolf

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.
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                                                                        January 16, 2002

Mr. Stephen M. Wolf
Chairman and Chief Executive Officer
US Airways, Inc.
2345 Crystal Drive
Arlington, Virginia 22227

Dear Steve:

             Reference is made to the letter agreement dated January 22, 1996 (as previously amended by letter agreement dated November 18, 1998, the "SERP Letter Agreement") between you and US Airways, Inc. (the "Company") concerning supplemental retirement benefits to be paid to you upon your retirement from the Company. This letter, when countersigned by you will constitute an amendment to the SERP Letter Agreement. This amendment has been approved by the Company's Board of Directors at its meeting on January 16, 2002. The Company hereby agrees with you as follows:

             1.        Clause (ii) of paragraph 1(a) of the SERP Letter Agreement is hereby amended in its entirety to read as follows: "(ii) final average earnings calculated in accordance with the Retirement Plan based on your actual salary and bonus except that for this purpose you shall be deemed to have been paid compensation in the year preceding the calendar year in which your employment terminates in an amount equal to the sum of your base salary rate in effect immediately prior to your termination of employment plus an assumed bonus at the maximum bonus percentage applicable to you under the annual incentive plan of US Airways in which you participate".

             2.        The last sentence of paragraph 6 of the SERP Letter Agreement is hereby amended in its entirety to read as follows:


Mr. Stephen M. Wolf
January 16, 2002
Page 2

             "For purposes of this Agreement the terms "cause," "good reason" and "change-of-control" shall have the definitions set forth in the Amended and Restated Employment Agreement among you, US Airways Group, Inc. and US Airways, Inc. dated January 16, 2002."

             3.        Paragraph 3 of the SERP Letter Agreement is hereby amended by adding a new sentence at the end thereof to read as follows:

             "For purposes of this Agreement, when you cease to serve as Chief Executive Officer you shall be deemed to have terminated employment."

             In all other respects, the SERP Letter Agreement shall remain in full force and effect.

             If you concur in the foregoing, please indicate your agreement by signing a copy of this letter in the space provided below.

                                                                                    US Airways, Inc.

                                                                                    _/s/ Jennifer C. McGarey__
                                                                                    Jennifer C. McGarey
                                                                                    Vice President, Deputy
                                                                                    General Counsel and Secretary

                                                                                    _/s/ Stephen M. Wolf____
                                                                                    Stephen M. Wolf

US Airways Group, Inc.

_/s/ Jennifer C. McGarey__
Jennifer C. McGarey