Document:

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                                                                   EXHIBIT 10.40

[LOGO OF DOVEBID]

                               February 8, 2000

     Timothy J. Reed
     38 Clipper Street
     San Francisco, CA 94114

     Dear Tim:

     On behalf of DoveBid, Inc. ("DoveBid"), I am pleased to offer you a full-
     time position as Vice President of Business Development reporting to me,
     effective on March 7, 2000. In this position, you will be responsible for
     DoveBid's alliances, partnerships and mergers and acquisitions (with
     exception of acquisitions of capital asset dealers and auction houses).

     Your annual salary will be $180,000 and will be paid in accordance with
     DoveBid's normal payroll procedures. Also, you will be eligible for a year-
     end bonus up to 33% of your base salary, determined by DoveBid in its
     discretion in January, and payable in or about February. All payments to
     you will be subject to legally required withholding(s). It is DoveBid's
     policy to review compensation levels periodically.

     Subject to approval by the Board of Directors of the Company, your
     compensation package also will include an incentive stock option under the
     terms of DoveBid's 1999 Stock Option Plan for 700,000 shares of common
     stock at the fair market value of the Company's Common Stock, as determined
     by the Board of Directors on the date the Board approves such grant. Your
     stock options will be subject to the terms of DoveBid's 1999 Stock Option
     Plan (the Plan includes vesting restrictions, restrictions on exercise and
     restrictions on transfer of shares) and will be conditioned on your
     execution of a Plan Agreement related to your options.

     In addition to your base salary, you will be eligible to participate in the
     employee benefits generally made available to our full-time employees, as
     may be modified in DoveBid's discretion. At the present time, those
     benefits include a "cafeteria" style benefits plan, health and dental
     insurance, life insurance, vacation and sick pay, and a 401k plan which you
     will become eligible for in accordance with the applicable benefit plans
     and DoveBid's written policies.

     Your employment with DoveBid will be "at will"; in other words, either you
     or DoveBid will have the right to terminate your employment with DoveBid at
     any time with or without cause.
<PAGE>

     As a condition of your employment, you will be expected to comply with all
     DoveBid's policies and procedure, as may be modified from time to time in
     DoveBid's discretion (including our policies protecting other employees
     against discrimination and sexual harassment). Please refer to DoveBid's
     Employee Handbook for details regarding those policies and procedures.
     Also, you will need to execute DoveBid's Employee Confidentiality And
     Proprietary Information Agreement.

     Please note that because of employer regulations adopted in the Immigration
     Reform and Control Act of 1986, within three (3) business days of starting
     your new position you will need to present documentation demonstrating that
     you have authorization to work in the United States. If you have question,
     about this requirement, which applies to U.S. citizens and non-U.S.
     citizens alike, you may contact our personnel office.

     This offer will remain open until February 14, 2000. If you decide to
     accept our offer, and I hope you will, please sign the enclosed copy of
     this letter in the space indicated and return it to me. Your signature will
     acknowledge that you have read and understood and agreed to the terms and
     conditions of this offer letter and the attached documents, if any. Should
     you have anything else that you wish to discuss, please do not hesitate to
     call me.

     We look forward to having you join our team!

     Sincerely,

     /s/ Jeff Crowe
     --------------
     Jeff Crowe
     President & COO

     I understand and agree to the above terms.

     /s/ Timothy J. Reed
     -------------------
     Timothy J. Reed<PAGE>

                                                                   EXHIBIT 10.41

                                 DoveBid, Inc.
                                 March 7, 2000

Lynn Corsiglia
Address
Address

Dear Lynn:

On behalf of DoveBid, Inc. ("DoveBid"), I am pleased to offer you a full-time
position as Vice President of Human Resources reporting to DoveBid's President
and Chief Operating Officer, effective on March 7, 2000.  In this position, you
will be responsible for all human resources related functions on behalf of
DoveBid.

Your annual salary will be $180,000 and will be paid in accordance with
DoveBid's normal payroll procedures.  Also, you will be eligible for a year-end
bonus up to 33% of your base salary, determined by DoveBid in its discretion in
January, and payable in or about February.  All payments to you will be subject
to legally required withholding(s).  It is DoveBid's policy to review
compensation levels periodically.

Subject to approval by the Board of Directors of the Company, your compensation
package also will include an incentive stock option under the terms of DoveBid's
1999 Stock Option Plan for 550,000 shares of common stock at the fair market
value of the Company's Common Stock, as determined by the Board of Directors on
the date the Board approves such grant.  Your stock options will be subject to
the terms of DoveBid's 1999 Stock Option Plan (the Plan includes vesting
restrictions, restrictions on exercise and restrictions on transfer of shares)
and will be conditioned on your execution of a Stock Option Agreement related to
your options.

In addition to your base salary, you will be eligible to participate in the
employee benefits generally made available to our full-time employees, as may be
modified in DoveBid's discretion.  At the present time, those benefits include a
"cafeteria" style benefits plan, health and dental insurance, life insurance,
vacation and sick pay, and a 401k plan which you will become eligible for in
accordance with the applicable benefit plans and DoveBid's written policies.

Your employment with DoveBid will be "at will"; in other words, either you or
DoveBid will have the right to terminate your employment with DoveBid at any
time with or without cause.

As a condition of your employment, you will be expected to comply with all
DoveBid's policies and procedures, as may be modified from time to time in
DoveBid's discretion
<PAGE>

(including our policies protecting other employees against discrimination and
sexual harassment). Please refer to DoveBid's Employee Handbook for details
regarding those policies and procedures. Also, you will need to execute
DoveBid's Employee Confidentiality And Proprietary Information Agreement.

Please note that because of employer regulations adopted in the Immigration
Reform and Control Act of 1986, within three (3) business days of starting your
new position you will need to present documentation demonstrating that you have
authorization to work in the United States.  If you have questions about this
requirement, which applies to U.S. citizens and non-U.S. citizens alike, you may
contact our personnel office.

This offer will remain open until March 8, 2000.  If you decide to accept our
offer, and I hope you will, please sign the enclosed copy of this letter in the
space indicated and return it to me.  Your signature will acknowledge that you
have read and understood and agreed to the terms and conditions of this offer
letter and the attached documents, if any.  Should you have anything else that
you wish to discuss, please do not hesitate to call me.

We look forward to having you join our team!

Sincerely,

/s/ Jeff Crowe
--------------
Jeff Crowe
President and Chief Operating Officer

I understand and agree to the above terms

/s/ Lynn  Butler Corsiglia
--------------------------
Lynn Corsiglia<PAGE>

                                                                   EXHIBIT 10.42

                     Secured Full Recourse Promissory Note
                     -------------------------------------

                            Foster City. California

$549,780.00                                                        March 7, 2000
-----------

Reference is made to that certain Notice of Exercise of Stock. Option (the
"Purchase Agreement") of even date herewith, by and between the undersigned (the
"Purchaser") and DoveBid, Inc., a Delaware corporation (the "Company"), issued
to Purchaser under the Company's 1999 Stock Option Plan. This Secured Full
Recourse Promissory Note (the "Note") is being tendered by Purchaser to the
Company as part of the meal purchase price of the Shares (as defined below)
pursuant to the Purchase Agreement.

          1.   Obligation. In exchange for the issuance to the Purchaser
               ----------
pursuant to the Purchase Agreement of 220,000 shares of the Company's Common
Stock (the "Shares"). receipt of which is hereby acknowledged, Purchaser hereby
promises to pay to the order of the Company on or before the fifth anniversary
of the date act forth above at the Company's principal place of business located
ax 1241 E. Hillsdale Blvd., Foster City, California 94404, or at such other
place as the Company may direct, the principal sum of five hundred and forty-
nine thousand seven hundred eight dollars ($549,780.00) together with interest
compounded monthly on the unpaid principal at the rate of 6.60%, which rate is
not less than the minimum rate established pursuant to Section 1274(d) of the
Internal Revenue Code of 1986, as amended, on the earliest date on which there
was a binding contract in writing for the purchase of the Shares; provided,
                                                                  --------
however that the rate at which interest will accrue on unpaid principal under
-------
this Note will not exceed the highest rate permitted by applicable law. All
payments hereunder shall be made in lawful tender of the United States.

          2.   Security. Performance of Purchaser's obligations under this Note
               --------
is secured by a security interest in the Shares granted to the Company by
Purchaser under a Stock Pledge Agreement dated of even date herewith between the
Company and Purchaser (the "Pledge Agreement")

          3.   Events of Default. Purchaser will be deemed to be in default
               -----------------
under this Note upon the occurrence of any of the following events (each an
"Event of Default"): (i) upon Purchaser's failure to make any payment when due
under this Note; (iii) the failure of any representation or warranty in the
Pledge Agreement to have been true, the failure of Purchaser to perform any
obligation under the Pledge, or upon any other breach by the Purchaser of the
Pledge Agreement, (iv) any voluntary or involuntary transfer of any of the
Shares or any interest therein except to transfer to the Company) without the
Company's consent; (v) upon the filing regarding the Purchaser of any voluntary
or involuntary petition for relief under the United States Bankruptcy Code or
the initiation of any proceeding under federal law or law of any other
jurisdiction for the general relief of debtors; or (vi) upon the execution by
Purchaser of an assignment for the benefit of creditors or the appointment of a
receiver, custodian, trustee or similar party to take possession of Purchaser's
assets or property.

                                      -6-
<PAGE>

          4.   Acceleration: Remedies On Default. Upon the occurrence of any
               ---------------------------------
Event of Default, at the option of the Company, all principal and other amounts
owed under this Note shall become immediately due and payable without notice or
demand on the part of the Company, and the Company will have, in addition to
it's rights and remedies under this Note, the Pledge Agreement, full recourse
against any real, personal, tangible or intangible assets of Purchaser and may
pursue any legal or equitable remedies that are available to it.

          5.   Rule 144 Holding Period. PURCHASER UNDERSTANDS THAT THE HOLDING
               -----------------------
PERIOD SPECIFIED UNDER RULE 144(d) OF THE SECURITIES AND EXCHANGE COMMISSION
WILL NOT BEGIN TO RUN WITH RESPECT TO SHARES PURCHASED WITH THIS NOTE UNTIL
EITHER (i) THE EXERCISE PRICE OF SUCH SHARES IS PAID IN FULL IN CASH OR. BY
OTHER PROPERTY ACCEPTED BY THE COMPANY OR (ii) THIS NOTE IS SECURED BY
COLLATERAL, OTHER THAN THE SHARES THAT HAVE NOT BEEN FULLY PAID FOR IN CASH,
HAVING A FAIR MARKET VALUE AT LEAST EQUAL TO The AMOUNT OF PURCHASER'S THEN
OUTSTANDING OBLIGATION UNDER THIS NOTE (INCLUDING ACCRUED INTEREST).

          6.   Prepayment. Prepayment of principal and/or other amount owed
               ----------
under this Note may be made at any time without penalty. Unless otherwise agreed
in writing by the Company, each payment will be applied to the extent of
available funds from such payment in the following order; (i) first to the
accrued and unpaid costs and expenses under the Note or the Pledge Agreement;
(ii) then to the accrued but unpaid interest and (iii) lastly to the outstanding
principal.

          7.   Governing Law; Waiver. The validity, construction and performance
               ---------------------
of this Note will be governed by the internal laws of the State of California,
excluding that body of law pertaining to conflicts of law. Purchaser hereby
waives presentment, notice of non-payment, notice of dishonor, protest, demand
and diligence.

          8.   Attorneys' Fees. If suit is brought for collection of this Note,
               ---------------
Purchaser agrees to pay all reasonable expenses, including attorneys' fees,
incurred by the holder in connection herewith whether or not such suit is
prosecuted to judgment.

          IN WITNESS WHEREOF, Purchaser has executed this Note as of the date
and year first above written.

                                     /s/ Timothy Reed
__________________________           -------------------------
Timothy Reed                         Purchaser's Signature

                                      -7-

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