Sample Business Contracts

Employment Agreement - Roxio Inc. and R. Elliot Carpenter

Employment Forms

  • Employers can customize an employment agreement that states the salary, benefits, working hours and other important provisions for their new or existing employee.
  • Answer simple questions to build a contract with a consultant. Specify the services rendered, when payment is due, as well as IP rights.
  • 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.
  • 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.
  • 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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July 24, 2001

R. Elliot Carpenter
5820 Firestone Court
San Jose, CA 95138

Dear Elliot:

On behalf of Roxio, Inc., I am pleased to offer you the position of Chief
Financial Officer for the Company, effective August 1, 2001. In this position,
your will report directly to the Chief Executive Officer.

Your initial salary will be $215,000.00 annually. You will be eligible to
participate in the annual bonus program with potential payout targeted at 45% of
your base salary dependent upon your performance and that of the Company. You
will also receive an automobile allowance of $650 per month, a Company-paid
annual physical examination, a health club subsidy and financial planning
assistance up to $2500 (net) per year.

In addition, you have been granted an option to purchase an additional 17,500
shares of Roxio stock in accordance with the Roxio 2001 Stock Plan. The strike
price of the option to purchase Roxio stock will be as determined by the Board
of Directors. The option will vest 25% on the first anniversary of date of
grant, and 6.25% quarterly thereafter, to be fully vested at the end of four

You should understand that this offer does not constitute a contract of
employment for any specified period of time but will create an "employment at
will" relationship.

Please sign this letter, indicating acceptance of this offer, and return to me.

Elliott, we are pleased to have you as a member of the team and are confident
you will continue to make a major contribution to our success.


/s/ Richard E. Loupee

Richard E. Loupee
Director, Human Resources
Roxio, Inc.

                                       Accepted:    /s/ R. ELLIOT CARPENTER
                                                        R. Elliot Carpenter