Shutterfly 2007 Annual Report Download - page 89

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This letter agreement, the Shutterfly Employee Invention Assignment and Confidentiality Agreement, and stock option agreement constitute
the entire agreement between you and the Company regarding the terms and conditions of your employment with Shutterfly and supersedes
any prior representations or agreements, whether written or oral. This letter, along with any agreements herein, may not be modified or
amended except by a written agreement signed by the Chief Executive Officer of the Company. If we do not hear from you by January 22,
2007 we will assume you have decided not to join Shutterfly.
We look forward to your positive response and welcoming you to the Shutterfly team.
Sincerely,
/s/ Jeff Housenbold
Jeff Housenbold
CEO & President
Enclosures
Acceptance
I agree to and accept employment with Shutterfly on the terms and conditions set forth in this agreement. I understand and agree that my
employment with the Company is at-will.
Signature:
/s/ Dwayne Black
Date:
1/25/07
Dwayne Black
Start Date:
2/12/07