Sample Business Contracts

Employment Agreement - Constant Contact Inc. and Steven R. Wasserman

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.
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  • 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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[Constant Contact letterhead]

                                       December 1, 2005

Steven R. Wasserman
16 Liberty Road
Medway, MA 02053

Dear Steven:

It is my pleasure to present you with an offer to join Constant Contact. As the
industry leader in permission-based email marketing for small and medium
businesses, the prospects for future growth and overall success depend largely
on the talent and skills of the individuals we bring into the organization. We
look forward to your joining Constant Contact and the beginning of a mutually
rewarding relationship!

The following sets forth the terms and conditions of our offer of employment to

     -    You will be hired as our Vice President and Chief Financial Officer,
          reporting to me, Gail Goodman, Chief Executive Officer.

     -    Your starting base pay shall be at a semi-monthly rate of $6,875.00
          (annualized this equates to $165,000). You will be paid in accordance
          with the Company's normal payroll practices as established or modified
          from time to time

     -    You will have an additional incentive compensation plan with an
          annualized target of $40,000.00. The incentive compensation targets
          will be set by the Board of Directors.

     -    Associated with the position will be participation in the Company's
          Stock Option Plan, through an option granted you to acquire (or, at
          your election, you will be granted restricted shares of company common
          stock) aggregating 147,700 shares of company common stock,
          representing approximately 1% of Constant Contact's common shares on a
          fully-diluted basis (including unissued stock options). For these
          shares; (A) the grant will be made on December 8,2005 on terms set
          forth below or as otherwise govern equity grants / awards to members
          of the company's executive team; (B) the grant shall vest twenty-five
          percent (25%) after one full year of service and six and a quarter
          percent (6.25%) per quarter thereafter; (C) not withstanding (B), if
          there is a change of control respecting the company, 50% of all
          unvested option (or restricted) shares shall immediately vest, and all
          remaining unvested option (or restricted) shares shall immediately
          vest if you are thereafter terminated within the first year after a
          change of control; (D) the option exercise (or restricted share
          purchase) price shall be $0.08 per share of company common stock.

     -    You will be entitled to participate in all company compensatory plans
          and arrangements in which other members of the company's executive
          team are eligible to participate on the same basis as such other
          executive team members.

     -    We confirm that you and your dependents will be immediately eligible
          to participate in, and to be covered under, the company's medical PPO
          benefit plan, without delay or regard to any re-existing condition.

     -    If your employment with Constant Contact is terminated, without cause
          or if there is a significant change in responsibilities or location
          that is unacceptable to you, you will be offered a severance package
          equal to six months salary and to medical coverage for your and your
          dependents for six months after the date of your termination.

     -    Your employment with Constant Contact will begin on DECEMBER 12, 2005
          or as mutually agreed. You will be expected to devote all of your
          working time to the performance of your duties at Constant Contact
          throughout your employment with the Company. No provision of this
          letter shall be construed to create an express or implied employment
          contract, or a promise of employment for any specific period of time.
          Your employment with Constant Contact is "at-will" and may be
          terminated by you or Constant Contact at any time for any reason.

     -    This offer is in effect until December 7, 2005.

Administaff sponsors and administers our employee benefit plans. The Company
reserves the right to change or discontinue any of its health and welfare
benefits and/or policies and procedures, as it deems appropriate

It is the Company's understanding that you have made no agreements with any
other party that would restrict you from being employed by the Company in this
role. It is necessary for you to sign the Company's Nondisclosure,
Noncompetition and Developments Agreement, a copy of which is enclosed with this

Your employment with Constant Contact is conditioned on your eligibility to work
in the United States. On your first day of employment you must complete an 1-9
Form and provide Constant Contact with any of the accepted forms of
identification specified on the 1-9 Form.


/s/ Gail Goodman
Gail Goodman
Chief Executive Officer

ACCEPTED: /s/ Steven R. Wasserman           DATE: 12/7/05
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