Employment Agreement Amendment

An employment agreement amendment is an agreement amending a currently existing and previously executed employment contract. They are often written in response to a substantial change in circumstances relating to the business of the employer model, the dynamics of the industry the company or the individual employee's contributions. Changes, if properly prepared, can change in law, every aspect of the original contract, including but not limited to, provisions regarding the employeesCompensation, term of employment, bonus structure, or the type of bonus payment (cash vs. Lager), reasons for termination or benefits package. Employment agreements contain a number of changes and modifications can read very long, or can be only one amendment and must be as short as one page.

The amendment must be first contain a concise statement showing the date of the amendment and referring to the original contract of employment with name and date. For example:

"ThisFirst Amendment to the Employment Agreement between First Generation Marketing, a Delaware corporation (the "Company") and Marty McFly (the "Employee"), originally of 31 Effective May 2005 ( "Employment Agreement") entered as in the 30th Day of December 2005 (the "Amendment Effective Date") by and between the employee and the company (together "the Parties").

Another example:

"This change of 22 December 2000 (the" Amendment "), theEmployment Agreement dated 22 December 1998 (the "Agreement") by and between New Edge Media, Inc. ( "NEM") and Mark Jergoff ( "Executive"). "

Having carefully, based on the original agreement with name and date of the agreement set out important considerations that should lead to the need for the change. For example:

States are in view, the employment that employees can earn a cash bonus if the specified fiscal year 2005 performance targets achieved (the "2005Bonus ")"

Believe in view, the parties agree that employees are entitled to a bonus for 2005 projected fiscal year 2005 Engine power companies are based, can be obtained "

Given, the Contracting Parties desire to amend the employment contract that, in 2005, no bonus is paid to the employees, and that will instead employees an additional equity grant of restricted stock units (the "RSU") and that the price for performance units (the "PU") will be changed "

It is alsorecommended that a final "whereas" clause stating that the parties request, all other conditions of employment, which remain unchanged, except as expressly provided herein.

Including the relevant considerations, the provisions of the Amendment should now carefully drawn up to the intentions of the parties to address. Have been prepared by the relevant provisions, it is important to include a clause at the end, agreed that the parties do not contain this modificationdestined to all other rights or obligations of both parties to confer on or about those specifically mentioned herein. With regard to the amendment of the amendment itself, the author may also want to explicitly state that the change can be changed or done only by written agreement of the parties changed.

search job jobs