Sample Business Contracts

Employment Agreement - iBEAM Broadcasting Corp. and Jeremy Zullo

Employment Forms

  • Employment Agreement. 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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                                 [iBEAM logo]

                                 July 9, 1999

Mr. Jeremy Zullo
iBEAM Broadcasting

          Re: Offer of Employment

Dear Jeremy:

          I am writing to confirm our offer of the following terms of your
employment commencing July 1, 1999 and continuing thereafter as provided herein:

          If you accept this offer, your title will be Executive Director
Development, reporting to Vice President Engineering. Your monthly base salary
will be $12,916.67 ($155,000 annually) less all applicable deductions. In
addition, you will be eligible to earn an annual bonus of up to $20,000 per
year, less all applicable deductions, based on your achievement of performance
goals set for you at the beginning of each quarter. I will set your goals within
the first 30 days of each quarter and communicate those goals to you in writing.
If you meet these goals, you will earn the aforementioned bonus.

          The Company will also award you an additional option to purchase
15,000 shares of Company common stock at the fair market value on the date of
grant. This option will become exercisable over the next four years with one-
quarter of the shares exercisable after one year and the remaining shares
becoming exercisable in equal installments over the next 36 months. This option
grant will be contingent upon you executing the Company's standard stock option
agreement, and will be subject to all terms of that agreement and the Company's
stock option plan. This grant is also contingent upon approval by the Company's
Board of Directors, which we expect to occur during the next meeting following
your acceptance of this offer.

          In exchange for this additional stock and compensation, you agree to
remain employed by the Company through June 30, 2000. Although the Company may
terminate your employment at any time for any reason, with or without cause,
during this time period by giving you written notice of such termination, you
agree that you will remain employed with the Company through that date. If your
employment with the Company continues beyond June 30, 2000, then you will resume
being an at-will employee, that is, either you or the Company can terminate your
employment at any time for any reason, with or without cause. You also agree
that the terms of the Proprietary Information and Inventions Agreement, executed
by you on June 4, 1998, will continue to be in effect except that paragraph 7
will be modified as set forth in this paragraph.

          If you accept this offer, it will supersede your prior agreement with
the Company. This will be the entire agreement between you and the Company
regarding the terms of your employment and it can only be modified in a
subsequent writing by you and the Company President.

          Please indicate your acceptance of this offer by signing below.


                              /s/ Peter Desnoes
                              Peter Desnoes
                              Company Chief Executive Officer

I accept this offer.

/s/ Jeremy Zullo
Jeremy Zullo