Harris Texas Amendment to Section 5(c) of Employment Agreement with copy of Agreement - Blank

• Category: Corporations - Officers and Employees
• State: Multi-State
• County: Harris
• Control #: US-C-15-157E
• Format: Word; Rich Text

Description

This form provides for an amendment to an existing executive employment agreement. The company desires to amend the agreement to provide for an increase in certain stock options in return for a reduction in the executives salary. The company also desires to encourage the executive to strive for the profitability and success of the company and desires to assure both itself and the executive of the continuity of management in the event of any actual or threatened change in control of the company. The Harris Texas Amendment to Section 5(c) of an Employment Agreement is an important legal document that outlines specific changes made to the original agreement between an employer and employee. This amendment is executed when there is a need to modify or clarify certain terms and conditions related to Section 5(c) of the employment agreement. Section 5(c) of an employment agreement typically covers a range of topics such as compensation, benefits, stock options, or any other specific terms relating to the employee's remuneration. The Harris Texas Amendment allows both parties to address any issues or concerns that have arisen since the initial agreement was made, ensuring that both employer and employee are on the same page and have a clear understanding of their obligations and rights. The Harris Texas Amendment to Section 5(c) of an Employment Agreement may come in different types based on the specific changes being made. Here are a few common types: 1. Amendment to Compensation: This type of amendment typically focuses on revising the employee's salary, bonuses, commissions, or any other forms of monetary compensation. It may outline changes to payment terms, performance metrics, or any other relevant factors. 2. Amendment to Benefits: This amendment specifically targets adjustments or modifications to the employee's benefits package, such as health insurance, retirement plans, vacation policies, or any other non-monetary benefits provided by the employer. 3. Amendment to Stock Options: In cases where the employee is entitled to stock options or equity, this amendment would address any changes made to the terms and conditions of the stock grants, vesting schedules, exercise prices, or any other aspect related to the employee's equity. 4. Amendment to Non-Compete Clause: In certain situations, the employer may wish to modify or expand the non-compete clause within the Employment Agreement. This amendment would specifically focus on changes made to prevent the employee from engaging in any competing activities during or after the employment period. 5. Amendment to Termination Clause: This type of amendment aims to modify the terms regarding the termination of employment, including notice periods, severance pay, or any other provisions that detail the circumstances under which the employment relationship may be terminated. While these are just a few examples, the Harris Texas Amendment to Section 5(c) of an Employment Agreement and its various types serve as essential legal tools to ensure that any modifications or clarifications made to the original agreement are properly documented and agreed upon by both the employer and employee.

The Harris Texas Amendment to Section 5(c) of an Employment Agreement is an important legal document that outlines specific changes made to the original agreement between an employer and employee. This amendment is executed when there is a need to modify or clarify certain terms and conditions related to Section 5(c) of the employment agreement. Section 5(c) of an employment agreement typically covers a range of topics such as compensation, benefits, stock options, or any other specific terms relating to the employee's remuneration. The Harris Texas Amendment allows both parties to address any issues or concerns that have arisen since the initial agreement was made, ensuring that both employer and employee are on the same page and have a clear understanding of their obligations and rights. The Harris Texas Amendment to Section 5(c) of an Employment Agreement may come in different types based on the specific changes being made. Here are a few common types: 1. Amendment to Compensation: This type of amendment typically focuses on revising the employee's salary, bonuses, commissions, or any other forms of monetary compensation. It may outline changes to payment terms, performance metrics, or any other relevant factors. 2. Amendment to Benefits: This amendment specifically targets adjustments or modifications to the employee's benefits package, such as health insurance, retirement plans, vacation policies, or any other non-monetary benefits provided by the employer. 3. Amendment to Stock Options: In cases where the employee is entitled to stock options or equity, this amendment would address any changes made to the terms and conditions of the stock grants, vesting schedules, exercise prices, or any other aspect related to the employee's equity. 4. Amendment to Non-Compete Clause: In certain situations, the employer may wish to modify or expand the non-compete clause within the Employment Agreement. This amendment would specifically focus on changes made to prevent the employee from engaging in any competing activities during or after the employment period. 5. Amendment to Termination Clause: This type of amendment aims to modify the terms regarding the termination of employment, including notice periods, severance pay, or any other provisions that detail the circumstances under which the employment relationship may be terminated. While these are just a few examples, the Harris Texas Amendment to Section 5(c) of an Employment Agreement and its various types serve as essential legal tools to ensure that any modifications or clarifications made to the original agreement are properly documented and agreed upon by both the employer and employee.