Sample Business Contracts

Employment Agreement - WebSideStory Inc. and Christopher Reid

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

Sponsored Links

                            [WebSideStory Letterhead]

February 12, 2003

Christopher Reid
985 Dove Song Way
Encinitas, CA 92024

Dear Chris:

WebSideStory, Inc. is very pleased to offer you the position of Vice President,
Sales reporting to John Hentrich, President and CEO. This offer is contingent
upon successful completion of your background check and reference checks and
based on the following terms and conditions:

      -     A start date of February 21, 2003

      -     A bi-weekly salary in the amount of $5,769.23 ($150,000 on an annual

      -     Subject to approval by the Company's Board of Directors,
            non-statutory stock options (NSOs) to purchase 200,000 shares of the
            Company's common stock, vesting over 4 years with the first 25% not
            vesting until your first anniversary with the Company. The exercise
            price of the options will be equal to the fair market value of the
            common stock on the date of the grant. These options will also be
            subject to the terms and conditions of the Company's 2000 Equity
            Incentive Plan and related agreements.

      -     Participation in WebSideStory's Sales Executive bonus program. This
            program provides for variable pay of $100,000 at target, with
            opportunity for significant additional financial upside based on
            stretch results. Plan details will be finalized by John Hentrich and
            discussed the first week of your employment.

      -     Recoverable draw against your compensation plan for the first 12
            months of your employment, in the amount of $2,500 each month.
            Please note that a negative draw balance is fully recoverable upon
            termination of employment and you will be required to reimburse
            WebSideStory any remaining balance owed. Your signature below
            indicates your understanding and agreement with these terms.

      -     In the event there is a change of control of the Company within your
            first year of employment, and you are terminated for any reason
            other than "cause" or poor performance within a six-month period
            following such event, 25% of your stock options remaining unvested
            at the date of termination will immediately vest.

      -     In the event there is a change of control of the Company after your
            first year of employment, and you are terminated for any reason
            other than "cause" or poor performance within a six-month period
            following such event, 50% of your stock options remaining unvested
            at the date of termination will immediately vest.

            "Change of control" means that an individual, corporation, or other
            entity or a group deemed to be a person under Section 14(d)(2) of
            the Exchange Act becomes the "beneficial owner" (as defined in Rule
            13k-3 of the General Rules and Regulations under the Exchange Act),
            directly or indirectly, of securities of the company representing
            50% or more of the combined voting power of the company's then
            outstanding securities entitled to vote for directors; and "Cause"
            means personal dishonesty, willful misconduct, failure to
            satisfactorily perform stated duties, breach of fiduciary duty
            involving personal profit, willful violation of any law, rule, or
            regulation (other than traffic violations or similar offenses) that
            has an adverse impact on the reputation of the company, any material
            breach of the executive's employment agreement or of the company's
            policies or practices, executive's death or disability that cannot
            be reasonably accommodated and that renders him/her unable to
            perform the essential functions of his/her job.


You are also eligible to participate in WebSideStory's benefit plans including
medical, dental, life, and disability insurance. You will receive two weeks of
accrued vacation for the first two years of employment, accelerating to three
weeks of vacation accrual the third year of employment. Additionally,
WebSideStory offers an on-site fitness center, tuition reimbursement, 401(k)
plan, credit union, and other attractive benefits. Further information about the
Company's benefits will be provided to you on your first day.

Due to the enactment of the Immigration Reform and Control Act of 1986, this
offer is contingent on your ability to produce acceptable documentation
verifying your eligibility to work in the United States. You will be required to
present the necessary documents on the day you begin work at WebSideStory.

Additionally, a condition of this offer and of your employment with WebSideStory
is the maintenance of the confidentiality of WebSideStory's proprietary and
confidential information and compliance with the Company's policies and
procedures as set forth on the Company's intranet and in its Employee Handbook.
Accordingly, you will be required to execute the Company's Employee
Confidentiality and Inventions Agreement and the Employee Handbook on your first
date of employment.

If you wish to accept our offer of employment, please sign and return the
enclosed copy of this letter in the enclosed envelope to me. Your signature
below will indicate your understanding that no other promises or representations
have been made to you and that you understand that you will be an at-will
employee. Either party may end the relationship at any time. This offer is not a
contract of employment, and the terms of employment are subject to change.

We are very excited to have you join WebSideStory and know that it will be a
mutually rewarding working relationship.

Very truly yours,

/s/ Sheryl Roland

Sheryl Roland
Vice President, Human Resources


I have read, understand, and accept the foregoing terms and conditions of my
offer of employment. I further understand that while my job duties, title,
compensation and benefits may change over time without a written modification of
this agreement, the "at-will" term of my employment (i.e., my right and
WebSideStory's right to terminate our employment relationship at any time, with
or without cause) is a term of employment which cannot be altered or modified
except in a writing signed by me and the President of WebSideStory. I understand
and agree that any contrary representation or agreements, which may have been
made to me, are superseded by this offer and my acceptance of the same.

Approved and accepted:

/s/ Christopher Reid                              2/24/03
----------------------------                      ----------
Christopher Reid                                  Start Date