Sample Business Contracts

Employment Agreement - Instant Video Technologies Inc. and June White

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  • 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.
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[LOGO]                   500 Sansome Street, Suite 503      tel 415.391.4455
                         San Francisco,                     fax 415.391.3392
                         California 94111                   http.//

Instant Video Technologies, Inc.

 September 25, 1998

 Ms. June White
 20 Plaid Place
 Hillsborough, CA 94010

 RE: Offer of Employment


 On behalf of Instant Video Technologies Inc., it is my pleasure to make you
 an offer of employment as our Vice President, Engineering. In this capacity
 you  will  be  reporting  to the  Chief  Technology  Officer  and  will  be
 responsible for the following duties:

        o    Manage the day to day operations of the Engineering department.
        o    Interface   with    other   departments   to   define   product
             requirements  and develop  schedules  and  other  materials  to
             deliver on product releases.
        o    Work to increase staff to meet product  development and support

 As an exempt employee, your compensation and benefits are as follows:

 Salary                     $120,000 per year.
 Bonus                      Subject to the approval of  the Board at a later
 Stock                      date.
                            Subject to Board  approval,  65,000 common stock
                            options  with 4  year  vesting  with  one-fourth
                            (1/4)  to  vest  at the  end of the  first  year
                            "cliff"  period.  The  remaining  three-quarters
                            (3/4) to vest  monthly  on a prorata  basis over
                            the remaining 3 years.
 Vacation                   15 days of personal time.
 Benefits                   Eligible  for the  standard  package as  offered
 Options                    to  employees  of Instant  Video  Technologies.
                            Eligible  for  all ISO  programs  as approved by
                            the Board periodically.

You will be eligible for a  performance  and salary review every twelve (12)
months.  As you  know,  we are  anxious  to fill  this  position  as soon as
possible and we would like your start date to be September, 1998. This offer
is  contingent  upon your review and signature of this letter and receipt of
satisfactory  proof of identification  and work authorization as required by
the Immigration Reform and Control Act.

Your employment and  compensation  with Instant Video  Technologies  are "at
will" in that they can be  terminated  with or  without  cause,  and with or
without  notice,  at any time,  at the option of either  yourself or Instant
Video Technologies, except as otherwise provided by law.


The terms of this offer  letter,  therefore,  do not and are not intended to
create an expressed or implied  contract of  employment  with Instant  Video
Technologies.  No manager or  representative  of Instant Video  Technologies
other  than an  Officer  of the  company  has  authority  to enter  into any
agreement for  employment  for any  specified  period of time or to make any
agreement or contract to the foregoing, and any promises to the contrary may
only be relied  upon by you if they are in writing  and signed by an Officer
of Instant Video Technologies.

June, let me close by  reaffirming  our belief that the skill and background
you bring to Instant Video  Technologies  will be instrumental to the future
success of the company. Without hesitation, the single most important factor
in the success of Instant  Video  Technologies  will be our people.  We look
forward to your joining us. Please confirm your  acceptance of this offer by
signing on the space provided below and returning the copy to me.


/s/ David Morgenstein

David Morgenstein
Chief Operating Officer


    /s/ June White                                   9/25/98
-------------------------------------        ---------------------------
June White                                   Date