{"id":38995,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-blockbuster-entertainment-group-and-joe.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-blockbuster-entertainment-group-and-joe","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-blockbuster-entertainment-group-and-joe.html","title":{"rendered":"Employment Agreement &#8211; Blockbuster Entertainment Group and Joe Phillips"},"content":{"rendered":"<pre>\n[BLOCKBUSTER LOGO APPEARS HERE]\n\n\n                                  MEMORANDUM\n\n                                                                   CONFIDENTIAL\n\nTO:             Joe Phillips\n\nFROM:           Steve Becker\n\nDATE:           June 22, 1998\n\nSUBJECT:        Retention Agreement\n\n-------------------------------------------------------------------------------\n\nJoe,\n\nPer your discussions with Bill Roskin and John Antioco, the following items \nrepresented the full agreement regarding your employment with Blockbuster.\n\nSalary (see new contract)\n-------------------------\n\n.  Move your base salary from $318,000 to $365,000 retro to January 1, 1998.\n.  STIP remains at 50% of base salary.\n.  Guarantee of no less than $20,000 salary increase annually for term of \n   contract.\n\nContract (see new contract)\n---------------------------\n\n.  New 3-1\/2 year employment contract starting on January 1, 1998 and ending on \n   June 30, 2001.\n\nRetention\n---------\n\n.  A three-year retention plan (1999, 2000, 2001) as noted below\n\n                     ---------------------------------------------------------\n                     |                           YEAR                        |\n|--------------------|-------------------------------------------------------|\n|  Incentive Amount  |    6 \/ 1999      |      6 \/ 2000    |    6 \/ 2001     |\n|--------------------|------------------|------------------|-----------------|\n|      $ 50,000      |    $ 50,000*     |                  |                 |\n|--------------------|------------------|------------------|-----------------|\n|      $ 50,000      |                  |      $ 50,000    |                 |\n|--------------------|------------------|------------------|-----------------|\n|      $ 50,000      |                  |                  |    $ 50,000     |\n|--------------------|------------------|------------------|-----------------|\n|      $150,000      |    $ 50,000      |      $ 50,000    |    $ 50,000     |\n|--------------------|------------------|------------------|-----------------|\n\nApproach:\n--------\n\nAward payout determined as follows:\n\n.  60% retention - payout if person is in 'good standing'\n.  40% accomplishment of key objectives (year 2K, IS strategic plan, etc.)\n\nNote:\n----\n\n.  *Company agrees to make June, 1999 payment of $30,000 early (June, 1998) \n   resulting in $20,000 payments in 1999.\n\nJoe, please let me know if you have any questions.\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6911,9252],"corporate_contracts_industries":[9469,9465],"corporate_contracts_types":[9539,9544],"class_list":["post-38995","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-blockbuster-inc","corporate_contracts_companies-viacom-inc","corporate_contracts_industries-media__rental","corporate_contracts_industries-media__broadcasting","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38995"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38995"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38995"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}