Sample Business Contracts

Employment Agreement [Amendment No. 1] - Youbet.com and Charles F. Champion

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.
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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EXHIBIT 10.37:      FIRST AMENDMENT TO EMPLOYMENT AGREEMENT BETWEEN YOUBET.COM
                    AND CHARLES F. CHAMPION FIRST AMENDMENT TO CHAMPION
                    EMPLOYMENT AGREEMENT


     THIS FIRST AMENDMENT (the "First Amendment") to Champion Employment
Agreement dated March 11, 2002 (the "Agreement") is made as of April 22, 2002 by
and between Youbet.com, a Delaware Corporation ("the "Company"), and Charles F.
Champion ("Executive").

     WHEREAS, after the Agreement was executed the Company and the Executive
learned that certain vesting and matching provisions of the Agreement could not
be honored (the "Impediment") ;

     WHEREAS, the Company and Executive wish to amend the Agreement as follows
in order to make Champion whole as a result of the Impediment and to in order
clarify his rights with respect to stock options;

     NOW, THEREFORE, in consideration of the foregoing, the Agreement is amended
as hereinafter provided:

     1. Section 4 (a) Fringe Benefits regarding the 401(k) Plan

     The following provisions will apply in the event of Executive's separation
     from the Company for any reason before the expiration of his Employment
     Agreement:

a.       Executive will be reimbursed for the difference between the amount
         vested and the actual three (3) year vest amount with respect to the
         Company's 401(k) Plan; and

b.       Executive will be reimbursed for the difference in what is matched and
         the total match due to him, equal to 50% of his contribution but not
         exceeding 3% of his annual income each year under the Company's 401(k)
         matching plan.

     2. Section 3(c) - Stock Options.

     The last sentence of Section 3(c) of the Agreement shall be amended to be
and read as follows:

     "To the extent of any conflict between this Agreement, on the one hand, and
     the Stock Option plan and/or the 1998 Stock Option Plan Incentive Stock
     Option Agreement that Participant signs, on the other hand, this Agreement
     shall control."

The Company will reimburse Executive for reasonable legal fees incurred in
connection with the negotiation and preparation of this First Amendment and the
Executive's Incentive Stock Option Agreement. Except as otherwise amended by
this First Amendment, the Agreement shall remain in full force and effect.

         IN WITNESS WHEREOF, the parties hereto have executed this First
Amendment and have caused this First Amendment to be executed by a duly
authorized person as of the day and year first above written.