Sample Business Contracts

Employment Agreement - Audible Inc. and Matthew Fine

Employment Forms

Employment Contract. 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.
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                           [AUDIBLE INC. LETTERHEAD]


March 31, 1997


Mr. Matthew Fine
                            
New York, NY  10010


Dear Matthew:

You will become Director of Business Programming, formally reporting to me.
Attendant to your employment -- subject to approval by the Board of Directors
and the shareholders -- the Company hereby offers you the right to purchase
75,000 shares of the Common Stock of the Company at a purchase price of $.40 per
share.  Such shares shall be subject to the terms of a stock restriction
agreement in a form to be provided to you prior to the commencement of your
employment.  In general, the agreement subjects the shares to a vesting schedule
such that in the event that your employment with the Company terminates, the
Company has the right to repurchase the unvested shares from you at your cost.
The shares vest 12 percent six months from the day you agree to the terms of
this offer letter, and thereafter in equal monthly installments of 2 percent
(1,500 shares) per month.  The agreement also provides the Company with the
right of first refusal on any shares you wish to transfer to a third party.  The
purchase price of the shares is payable in cash, by promissory note, or by a
combination of both.

Provided that you remain employed with the Company until May 31, 2001, you will
receive a bonus of $39,488 at that time.  The Company will not provide you with
any gross up in taxes due to such onetime bonus.

Your annual salary will begin at $100,000 per year. A bonus program set at up to
20 percent of your base salary, payable quarterly, and adjusted according to
personal "objectives" we will identify together.  In addition we will offer you
a $5,000 signing bonus and a $150 monthly car expense reimbursement.  You agree
to resign your current employment position no later than April 1, 1997 and
commence formal employment with Audible Inc. no later than April 15, 1997.  This
offer is good until April 1, 1997.

A health plan will be part of the employment package. The Company will cover the
premium for you and half of a family premium. A dental plan will also be
available on a self-pay basis. The Company will also pay 25 percent of your
annual membership at a health club near our headquarters.
<PAGE>

The attached non-disclosure agreement contains the same restrictions under which
the entire management team employed and will serve as a standard part of all our
subsequent hires.


Your signature below indicates acceptance of the terms.



Regards,



__________________________________
Andrew J. Huffman
President and Chief Executive Officer
Audible, Inc.

I acknowledge that this supercedes the prior letter signed on this date.


                                      So Agreed:
                                                ------------------------------
                                                        Matthew Fine

                                      Date:
                                           -----------------------------------


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