Sample Business Contracts

Employment Agreement - PalmSource Inc. and Jeanne Seeley

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

February 24, 2005


Ms. Jeanne Seeley


Dear Jeanne:


It is my pleasure to extend you an offer of employment with PalmSource, Inc. (“PalmSource”), in Sunnyvale, California as Chief Financial Officer reporting directly to me.




Your annual base salary will be $300,000 ($25,000 per month) payable semi-monthly. Your annual variable compensation at target would be $150,000. The variable component, which is 50% of the base salary, will be made up of two components: 25% will be based on achievement of the individual goals and objectives we set each quarter, and 75% will be based on meeting the Company’s financial targets each quarter and at year-end.


Stock Options


You will be eligible to receive a stock option grant of 100,000 PalmSource stock options in accordance with the PalmSource 2003 Equity Incentive Plan (the “EIP”). The PalmSource Board of Directors must still approve your specific new hire option grant at its next meeting. PalmSource shares will be priced at the closing stock price on the date that the grant is approved by the Board of Directors. Vesting will occur with your date of hire. The plan provides a four year vesting period: 25% of the stock subject to the grant shall vest on the one year anniversary date of your effective date of hire and the remaining stock subject to the grant shall vest on a monthly basis thereafter.




PalmSource will offer you the same benefits provided to its other senior executives which includes the standard Management Retention Agreement (Change in Control) and PalmSource Inc. Severance Agreement; both of which are enclosed. You will also will be eligible for our standard employee benefits which currently include 28 days of combined time off and holidays, an Employee Stock Purchase Program (ESPP), a partial company 401k match, a handheld purchase program and a one-month sabbatical program after each four years of continuous employment.

Work Location


We believe that our best work is performed when we join together at work to produce our products and services. PalmSource does recognize that telecommuting may be a viable flexible work alternative in cases where work responsibilities are suited for work done away from a PalmSource work location. However, in general, the company strongly encourages employees to work at the company location at 1188 E. Arques Avenue, Sunnyvale, California.


I am delighted that you have agreed to begin your employment with us on February 28, 2005. I understand and agree that you will take an unpaid vacation on the dates of March 5 through March 12, 2005.


The terms and conditions of your proposed employment with PalmSource as stated in this letter supersede any previous representations concerning conditions of employment. While we are confident that we will have a mutually beneficial employment relationship, employment with PalmSource is voluntary and at-will. This means you are free to resign at any time. Similarly, PalmSource is free to terminate your employment, with or without cause or notice, at any time.


This offer of employment and your continued employment with PalmSource are expressly contingent upon PalmSource receiving the following:


  Acceptable results from a background investigation. Any falsification of employment history or educational background will result in withdrawal of the offer and/or termination of employment.


  Signed copies of the PalmSource (i) Employee Agreement, (ii) Confidentiality Guidelines, and (iii) Code of Conduct, stating, among other things, that you will keep confidential company information throughout and beyond your employment with PalmSource. These are enclosed in your New Hire Packet.


  Satisfactory proof of identification and work authorization as required by the Immigration Reform and Control Act of 1990.


Please confirm your acceptance by signing this letter in the area provided below. Return the signed offer letter along with signed copies of the enclosed PalmSource agreements to the PalmSource HR department.



Let me close by reaffirming my belief that the skills and background you bring to PalmSource will be instrumental to the future success of the Company. I am very pleased that you are enthusiastic about joining PalmSource and I look forward to working with you.



/s/ David Nagel

David Nagel
President and CEO
PalmSource, Inc.


I accept the offer of employment at PalmSource, Inc. based on the terms described in this offer letter.


/s/ Jeanne Seeley


February 28, 2005

Jeanne Seeley Date




Management Retention Agreement

PalmSource, Inc. Severance Agreement

New Hire Packet