Before revision:  Using a recent theory of singular changes of measures for Ito processes, we formulate a principal-agent problem in this context, and solve it in the case of CARA preferences .
After revision:  We identify a family of admissible contracts for which the optimal agent's action is explicitly characterized, and, using the recent theory of singular changes of measures for Ito processes, we formulate a principal-agent problem in this context, and solve it in the case of CARA preferences .