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Sample Business Contracts

Employment Agreement - ZixIt Corp. and Jeffrey P. Papows

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.
  • More Employment Agreements

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                                October 18, 2000

[ZIXIT LETTERHEAD]

VIA FEDERAL EXPRESS

Mr. Jeffrey P. Papows
Maptuit Corporation
35 Corporate Drive, 4th Floor
Burlington, Massachusetts  01803

Dear Jeff:

         This letter memorializes the agreement you and ZixIt Corporation
("ZixIt" or the "Company") have reached regarding the additional ZixIt
responsibilities you are assuming.

         o        You have agreed to serve as Chairman of the Board of Directors
                  of ZixIt Corporation. In addition to the normal Chairman's
                  duties, you will have direct responsibility for the sales and
                  marketing management of the Company's products and services.
                  The Company's sales and marketing personnel will report to
                  you.

         o        The Company will pay to you $12,500 per month cash
                  compensation. Additionally, the Company will pay your travel
                  and other business related expenses that we have discussed.

         o        The Company will issue to you non-qualified options to acquire
                  175,000 shares of ZixIt common stock at an exercise price of
                  $19.75 per share. The option grant will vest pro-rata and
                  annually over two years, and the vesting of the options will
                  accelerate upon a "change in control" of the Company. The
                  options will have a five year term. The terms and conditions
                  of the option grant will be set forth in an option agreement,
                  which will be reviewed and approved by the Company's Board of
                  Directors or its designee.

         o        Your responsibility for the sales and marketing management of
                  the Company's products and services may be terminated by
                  either you or the Company upon written notice with or without
                  "cause." However, if the Company terminates without "cause,"
                  then the vesting of your options will automatically
                  accelerate.

         If this letter sets forth your understanding of our agreement, please
so indicate by signing below and returning a copy of this letter to us for our
files.

                                  Very truly yours,

                                  /s/ DAVID P. COOK

                                  David P. Cook
                                  Chairman & CEO

AGREED AND ACCEPTED

/s/ Jeffrey P. Papows
---------------------
Jeffrey P. Papows

Date:  10/19/00
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