Document:

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                                                                   EXHIBIT 10.24

February 9, 2000

Mr. Tom Baxter
219 Ravenscliff Road
St. David's, PA  19087

Dear Tom,

This is an historic day for Audible.  I am extremely pleased to offer you the
position of Chief Executive Officer here at Audible, Inc., and to ask you to
join me in this great adventure.   Everyone you've met here is deeply impressed
with your good humor, talent, creativity, your estimable credentials, your
record of success, and with your obvious passion for our cultural vision and
business potential.  I am exceedingly confidant that you will take Audible to
the next level as we help create a new business category and help launch a new
medium.

Here is a summary of our employment offer, with details following:

o  You will become Chief Executive Officer, President, and a member of the Board
   of Directors -- and report to the Board of Directors (Further specific
   responsibilities are detailed in the "Job Descriptions: Thomas G. Baxter and
   Donald R. Katz" addendum attached).

o  You will be paid $250,000/year as a base salary with an annual bonus target
   of 50%, paid quarterly against your objectives.

o  You will receive 100,000 restricted shares of Audible @ $5 below the market
   price.

o  Subject to the conditions described below, you will be granted options to
   purchase 1,500,000 shares of Audible's common stock at a strike price equal
   to the closing price of ADBL on NASDAQ on the day before you commence work at
   Audible.

o  You will be enrolled in the company's various benefits programs.

o  You will agree to commence work part time no later than the week of February
   15th and full time by the second week of March.
<PAGE>

o  You will work with Audible to create a press release announcement your new
   position, to be issued during the week of February 14th.

o  This offer is good until 5PM today.

Here are the details:

Stock Options: The common stock options granted to you (subject to approval of
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the Board of Directors) will be pegged to an exercise price equal to the closing
price of ADBL on NASDAQ on the day before you commence work at Audible.

Vesting Schedule: A significant number of options will be Incentive Stock
----------------
Options (ISO's).  This, up to the level at which the number of options exceed
the ISO limitation, in which case the remaining portion of the options will have
to be issued as Non-qualified Options.   In any event, 12% of these options will
vest six months after you commence employment, and 2% will vest each month
thereafter.  You will have at least five years to exercise these options.

Restricted Stock:  Your restricted shares, issued at $5 below the closing price
----------------
of ADBL on NASDAQ the day before you commence work at Audible, will begin
vesting immediately at rate of 4.16% per month.  The purchase price of the
shares is payable in cash, by promissory note, or by a combination of both.
Assuming you remain an employee of the Company until all your restricted shares
are fully vested in two years , the company will provide a one-time bonus equal
to the accrued interest on the note.

Accelerated Vesting:  Our option agreement provides for automatic vesting of 50%
-------------------
of unvested options and shares in the event of a sale or merger of the company
prior to full vesting.   It also provides that, at the time of the transaction.
Additional accelerated vesting can be approved by the Board.  The Board of
Directors agrees to revisit accelerated vesting agreements provisions for
Audible employees within one year from this date.

Annual Bonus: We believe in a strong, results-oriented company culture and to
------------
emphasize that, we have a performance-based, cash compensation plan for senior
managers.   Every quarter you will propose, for approval by the compensation of
the Board of Directors, a set of measurable objectives for the company.   Based
on accomplishments against those objectives and approval by the Board's
compensation committee, you will be paid a bonus on an annual basis.
<PAGE>

Benefits:  The Company has a standard health plan and will cover 100% of your
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premium and 50% of your dependents' premiums.  The time-off policy is 15 days of
paid leave per year (sick, mental health, or vacation time) and paid holiday
days.  There is also a dental plan.  I realize that you will be taking a family
trip in March for a week, and we have also reached an understanding concerning
your time on site in Wayne.  You have said that your normal workweek in Wayne
will run from Monday morning to Thursday night, with "virtual" management
persisting by phone and email thereafter.  We will discuss payments - or a
payment allowance - for your apartment near our offices, and you can decide the
nature of this payment in light of your own analysis of our overall expenses.

The company will also pay 25% of your annual membership at a health club of your
choice, reasonably approved by Audible.  The company also has a 401(k) plan,
which is 100% employee-funded and voluntary.

Non-Disclosure Agreement: All employees are required to execute the attached
------------------------
non-disclosure agreement, a standard aspect of our hiring process. A copy is
attached.

Severance Agreement:  Should the Board of Directors decide, within the first
--------------------
twelve months of your employment that you should no longer be the CEO of
Audible, the company will pay you one year's salary as severance.  In addition,
unvested shares of your restricted stock and your options due to vest within the
coming calendar year will vest upon termination

That's it.  I'm sure you know that this is a huge step for Audible - and for me.
Audible has already defined one of my most exhilarating experiences, and I've
been lucky enough to have had a few.   As I have pledged verbally, this imminent
association means that I will stand ready to assist and continue to serve the
cause.  I want you to know that aside the significant economic value your
leadership will create, I look forward to this association on a personal plane.

Please countersign this letter and fax a copy back to Audible at our private fax
number -- 973-890-0178 (to my attention).   I will then immediately fax back a
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signed executed copy of this agreement.  I will be on the road Monday and
Tuesday (command performance with the President of Sanyo in LA).  Back on the
redeye on Tuesday night.

ONWARD!

/s/ Donald Katz
------------------------
Donald Katz
Chairman, Founder, and Acting CEO
Audible, Inc.

So agreed:

/s/ Thomas G. Baxter
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Thomas G. Baxter
<PAGE>

JOB DESCRIPTIONS:  THOMAS G. BAXTER AND DONALD R. KATZ
2/9/00 - ADDENDUM TO TOM BAXTER OFFER LETTER

<TABLE>
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THOMAS G. BAXTER AS AUDIBLE    The President & CEO of Audible will be responsible for
PRESIDENT AND CHIEF            the day-to-day executive leadership and management of
EXECTUIVE OFFICER:  ROLE       the company.  He will lead the development of the
DEFINITION                     organization, and scale its fundamental business
                               concept to the next level, in a cost-effective and
                               innovative manner.  He will help identify the key
                               elements of Audible's current category and broader
                               industry leadership, and he will construct a plan and
                               build up a team capable of maintaining and exceeding
                               those leadership attributes.

                               The CEO will be responsible for ensuring that the
                               company consistently meets its external objectives in
                               terms of revenue, profitability and sustained growth.
                               He will help address immediate-term operational
                               (staffing and process) challenges while also setting a
                               strategic agenda appropriate to the tremendous
                               potential Audible has in the eyes of its many
                               stakeholders.  In this regard, the CEO will have the
                               authority to hire, promote, and dismiss executives and
                               employees of the company.  The CEO will be responsible
                               for the development, implementation, monitoring and
                               control of all marketing objectives and plans to assure
                               achievement of the company's mission and strategies.

                               The CEO will report to the Audible Board of Directors,
                               chaired by its Chairman, Donald Katz, and he will serve
                               as a member of that Board. While Mr. Katz will maintain
                               an operational role that includes the "outward facing"
                               communications with and management of key external
                               stakeholders (see description below), the CEO must also
                               stand ready to lead a public company, while also
                               managing the heavy growth and fast-paced

</TABLE>
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<TABLE>
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                               characteristic of thie highly competitive and constantly
                               changing economic environment the company inhabits.

                               Finally, as a byproduct of the process of leading
                               Audible's operations, maintaining its leadership
                               position, exceeding its public goals, and planning an
                               optimum strategic path for the future, the CEO will
                               drive returns for all shareholders.

DONALD KATZ AS CHAIRMAN OF     The Chairman and Founder of Audible has also served as
THE BOARD AND FOUNDER:         President  & CEO of Audible Inc, on two occasions:
ROLE DEFINITION                from its founding in 1995 until the Spring of 1998; and
                               again from October of 1999 until mid-February of 2000.
                               Most members of the Audible Senior Management team were
                               hired by Mr. Katz, and to some extent he personifies
                               the Company within its industry niche and to the public
                               markets.  In light of this, the Chairman will play a
                               transitional role within the Company as the new CEO of
                               Audible concentrates on the operational, tactical,
                               business, and strategic challenges facing the Company.
                               The Chairman stands ready to serve the CEO as a
                               day-to-day colleague or as a "partner" - though only if
                               the CEO deems this term appropriate or useful.

                               The Chairman will maintain a full-time operational
                               schedule for at least one year after the new CEO begins
                               work (though the Chairman will want to recapture a
                               "normal" schedule when the CEO feels the time is right,
                               this to include vacations and somewhat diminished
                               weekly hours as compared to the current round-the-clock
                               pace).  The CEO and Chairman should develop a work
                               transitional plan that is mutually agreeable to both
                               parties, but which also success in reaching the
                               Chairman's goal of a normal "workweek."

                               The Chairman will also manage, co-manage, or maintain
                               some level of operational responsibility - as the CEO
                               desires insofar as:

</TABLE>

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                               o  "Outward facing" communications with the Wall Street
                                  community, the Internet industry, and the press.

                               o  The content acquisition strategy.

                               o  Key strategic partnerships - both past and future.

                               In the near-term, the Chairman will also work closely
                               with the CEO to manage and plan the future role of the
                               Board of Directors.

                               The Chairman will also stand ready - day or night - to
                               listen and learn and convey background information the
                               CEO needs to fast-track his own learning and
                               operational understanding.

</TABLE>GREATER ROME BANCSHARES, INC.
<TABLE>
<CAPTION>

                         DIRECTORS STOCK INCENTIVE PLAN

                                TABLE OF CONTENTS

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<S>                                                                                                               <C>
SECTION 1  DEFINITIONS............................................................................................1

SECTION 2  THE STOCK INCENTIVE PLAN...............................................................................1

   2.1   PURPOSE OF THE PLAN......................................................................................1
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   2.2   ADMINISTRATION OF THE PLAN...............................................................................2
         --------------------------
   2.3   EFFECTIVE DATE...........................................................................................2
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SECTION 3  ELIGIBILITY............................................................................................2

SECTION 4  SHARES SUBJECT TO PLAN.................................................................................2

SECTION 5  STOCK AWARDS...........................................................................................2

   5.1   DIRECTOR FEES ELECTION...................................................................................2
         ----------------------
   5.2   DEFERRED FEES ACCOUNT....................................................................................2
         ---------------------
   5.3   PAYMENT IN STOCK.........................................................................................2
         ----------------
   5.4   PAYMENT IN CASH..........................................................................................3
         ---------------
   5.5   TERMINATION OF DIRECTORSHIP..............................................................................3
         ---------------------------

SECTION 6  TERM OF PLAN...........................................................................................3

SECTION 7  GENERAL PROVISIONS.....................................................................................3

   7.1   AMENDMENT AND TERMINATION OF THE PLAN....................................................................3
         -------------------------------------
   7.2   CHANGES IN CAPITALIZATION................................................................................3
         -------------------------
   7.3   RESTRICTIONS ON DELIVERY AND SALE OF SHARES; LEGENDS.....................................................4
         ----------------------------------------------------
   7.4   NO RIGHT TO CONTINUED RETENTION..........................................................................4
         -------------------------------
   7.5   NON-ALIENATION OF BENEFITS...............................................................................4
         --------------------------
   7.6   CHOICE OF LAW............................................................................................4
         -------------

</TABLE>

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                          GREATER ROME BANCSHARES, INC.

                         DIRECTORS STOCK INCENTIVE PLAN

                              SECTION 1 DEFINITIONS

         Definitions.  Wherever  used herein,  the  masculine  pronoun  shall be
deemed to include the feminine,  and the singular to include the plural,  unless
the context  clearly  indicates  otherwise,  and the following words and phrases
shall, when used herein, have the meanings set forth below:

(a)  "Bank" means Greater Rome Bank, a bank organized under the laws of the
      ----
     State of Georgia.

(b)  "Bank Board" means the Board of Directors of the Bank.
      ----------

(c)  "Company" means Greater Rome  Bancshares,  Inc., a bank holding company
      -------
     organized under the laws of the State of Georgia as a bank holding company.

(d)  "Company Board" means the Board of Directors of the Company.
      -------------
(e)  "Deferred Fees Account" means the bookkeeping account established under the
      ---------------------
     Plan for each Eligible Director, as described in Plan Section 5.2.

(f)  "Director" means a member of the Bank Board.
      --------
(h)  "Director  Fees" means,  with respect to each  Election  Period (or portion
      --------------
     thereof  while  the  Plan is in  effect), the retainer and meeting fees for
     regularly  scheduled  Bank  Board and Bank  Board  committee  meetings  for
     such period.

(i) "Election Period" refers to each successive, twelve-month period, commencing
     ---------------
    July 1. The first Election Period shall commence July 1, 1999.

(j) "Eligible Director" means any Director of the Bank Board.
     -----------------
(k) "Fair Market  Value"  refers to the fair market value of a share of Stock as
    of a given date, as determined by the Company Board in good faith.

(l) "Plan" means the Greater Rome Bancshares, Inc. Directors Stock Incentive
     ----
    Plan.

(m) "Stock" means the common stock of the Company, $.01 par value per share.
     -----

                       SECTION 2 THE STOCK INCENTIVE PLAN

         2.1 Purpose of the Plan.  The Plan is intended (a) to provide  Eligible
             --------------------
Directors  with the  opportunity  to elect to receive  payment for Director Fees
either in cash or in shares of Stock;  and (b) to further align the interests of
those  individuals who are responsible for shaping and carrying out the policies
and the long  term  plans of the  Company  with the  interests  of  shareholders
generally.

<PAGE>

         2.2  Administration  of the Plan. The Plan shall be administered by the
              ----------------------------
Company Board. The Company Board shall have the authority in its sole discretion
to interpret  the Plan, to make all other  determinations  and to take all other
actions  it  deems   necessary  or   advisable   for  the   implementation   and
administration  of the Plan.  All actions of the  Company  Board shall be final,
conclusive,  and binding. No member of the Company Board shall be liable for any
action taken or decision made in good faith relating to the Plan.

         2.3  Effective Date.  The Plan shall be effective as of July 1, 1999.
              --------------

                              SECTION 3 ELIGIBILITY

         Eligible  Directors  may  elect  pursuant  to  Section 5 of the Plan to
receive cash or Stock as payment for  Director  Fees on the terms and subject to
the restrictions hereinafter set forth.

                        SECTION 4 SHARES SUBJECT TO PLAN

         Subject to adjustment in accordance  with Section 7.2, 50,000 shares of
Stock are hereby  reserved  exclusively  for  issuance  pursuant to elections by
Eligible Directors to receive Stock pursuant to elections under Section 5.

                             SECTION 5 STOCK AWARDS

         5.1 Director Fees  Election.  With respect to each Election  Period (or
             ------------------------
applicable portion thereof),  each Eligible Director may elect in writing and in
such form and at such time as the Company Board may direct,  to receive  payment
of Director Fees earned by the Eligible Director for that Election Period either
(a) in cash,  or (b) in shares of Stock  having a Fair Market Value equal to the
cash  amount  that would  otherwise  be  payable.  Once made,  an election by an
Eligible  Director under this Section 5.1 is irrevocable,  except as provided in
Section 5.5 below.

         5.2 Deferred Fees Account. A Deferred Fees Account shall be established
             ----------------------
for each Eligible Director.  The Deferred Fees Account shall be credited monthly
with the amount of Director Fees earned by an Eligible  Director for that month,
as of the close of the last business day of the month. The Deferred Fees Account
shall be credited with interest on amounts credited to the Deferred Fees Account
during  an  Election  Period  from and  after  the date  the  Director  Fees are
credited.  The earnings credit shall be based upon an annual  percentage rate of
return  equal to seven  percent  (7%),  until  revised by further  action of the
Company Board.

         5.3 Payment In Stock. An Eligible Director electing to receive Stock as
             -----------------
payment for Director Fees for an Election Period will receive a number of shares
of Stock equal to the result,  rounded up to the nearest whole number,  obtained
by dividing the amount credited to the Eligible Director's Deferred Fees Account
for the  Election  Period by the Fair Market Value of a share of Stock as of the
last day of the Election Period during which the Director Fees were earned.  The
Stock will be issued to such Eligible  Director as soon as practicable after the
end of that Election Period.

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<PAGE>

         5.4 Payment In Cash. An Eligible  Director  electing to receive cash as
             ----------------
payment for  Director  Fees will receive  payment of the amount  credited to the
Deferred  Fees  Account  as soon as  practicable  after the end of the  Election
Period during which the Director Fees were earned.

         5.5  Termination  of  Directorship.  In the event an Eligible  Director
              ------------------------------
ceases to be a Director for any reason  prior to the end of the Election  Period
to which such election  applies,  such Director will receive  payment in cash of
amounts  credited to such  Director's  Deferred  Fees Account as of the date the
Director  ceases to be an  Eligible  Director.  Payments  made  pursuant to this
Section  5.5 shall be made at the same time as other  cash  amounts  due for the
same Election  Period in accordance with section 5.4 (or at such earlier time as
the Company Board may determine in its sole discretion).

                             SECTION 6 TERM OF PLAN

         The Plan shall continue until  terminated by the Company Board pursuant
to Section 7.1 hereof or, if earlier, until there are not a sufficient number of
shares of Stock to issue to all  electing  Eligible  Directors  for an  Election
Period. If the Plan is terminated,  any amounts  remaining  credited to Deferred
Fees  Accounts  shall  become  payable to Eligible  Directors in a cash lump sum
payment as soon as practicable after the Plan is terminated.

                          SECTION 7 GENERAL PROVISIONS

         7.1 Amendment  and  Termination  of the Plan.  The Company Board at any
             -----------------------------------------
time may amend or terminate  the Plan without  shareholder  approval;  provided,
however,  that the Company  Board may condition any amendment on the approval of
the  shareholders of the Company if such approval is necessary or advisable with
respect to tax,  securities or other applicable laws to which the Company,  this
Plan, or Eligible Directors are subject. No amendment or termination of the Plan
shall adversely  affect the rights of an Eligible  Director  without his consent
with respect to Stock previously acquired under the Plan.

         7.2 Changes in Capitalization.
             -------------------------

                  (a) The number of shares of Stock  reserved for issuance under
the Plan shall be  proportionately  adjusted  for any  increase or  decrease  in
the number of issued shares of Stock resulting from a subdivision or combination
of shares or the payment of an ordinary  stock dividend  in  shares of  Stock to
holders of outstanding shares of Stock or any other increase or  decrease in the
number of shares of Stock  outstanding effected without receipt of consideration
by the Company.

                  (b) In the event of  any  merger, consolidation, extraordinary
dividend (including a spin-off), reorganization or other change in the corporate
structure of the Company or its Stock or tender offer for  shares of Stock,  the
Company Board, in its sole discretion, may take action with respect to  Deferred
Fees Accounts as it deems necessary or appropriate to reflect or in anticipation
of  such  merger, consolidation, extraordinary  dividend (including a spin-off),
reorganization,  other change in corporate structure or tender offer, including,
but not limited  to, the  payment of  Deferred  Fees Accounts in cash.

                                       3
<PAGE>

                  (c) The  existence  of the Plan  granted  pursuant to the Plan
shall not affect in  any  way  the  right or  power  of  the  Company to make or
authorize any adjustment,  reclassification,  reorganization  or other change in
its capital or business  structure,  any merger or consolidation of the Company,
any issue of debt or equity  securities  having  preferences or priorities as to
the Stock or the rights thereof,  the dissolution or liquidation of the Company,
any sale or transfer of all or any part of its business or assets,  or any other
corporate act or proceeding.

         7.3 Restrictions on Delivery and Sale of Shares; Legends. Each share of
             -----------------------------------------------------
Stock is  subject  to the  condition  that if at any time  the  Company,  in its
discretion,  shall determine that the listing,  registration or qualification of
the shares of Stock upon any  securities  exchange or under any state or federal
law is  necessary  or  desirable  as a condition  of or in  connection  with the
granting  of such  Stock,  the  delivery  of any or all  shares  of Stock may be
withheld unless and until such listing, registration or qualification shall have
been effected. If a registration statement is not in effect under the Securities
Act of 1933 or any applicable  state  securities laws with respect to the shares
of Stock, the Company may require,  as a condition to the issuance of any Stock,
that the Eligible  Director or other recipient of Stock  represent,  in writing,
that the shares  received are being  acquired for investment and not with a view
to  distribution  and  agree  that the  shares  will not be  disposed  of except
pursuant to an effective registration  statement,  unless the Company shall have
received  an  opinion  of  counsel  that such  disposition  is exempt  from such
requirement under the Securities Act of 1933 and any applicable state securities
laws. The Company may include on certificates  representing shares of Stock such
legends referring to the foregoing  representations or restrictions or any other
applicable restrictions on resale as the Company, in its discretion,  shall deem
appropriate.

         7.4 No Right to Continued  Retention.  Nothing in the Plan shall confer
             ---------------------------------
upon any  Eligible  Director  the right to  continue  as a member of the Company
Board or Bank  Board or affect  the right of the  Company  or any  affiliate  to
terminate an Eligible Director's directorship at any time.

         7.5  Non-Alienation  of  Benefits.  No benefit  under the Plan shall be
              -----------------------------
subject in any manner to anticipation,  alienation, sale, transfer,  assignment,
pledge,  encumbrance or charge;  and any attempt to do so shall be void. No such
benefit  shall,  prior to receipt  by the  Eligible  Director,  be in any manner
liable for or subject to the debts, contracts, liabilities, engagements or torts
of the Eligible Director.

         7.6  Choice of Law. The laws of the State of Georgia  shall govern the
              -------------
Plan,  to the extent not  preempted by federal law.

                [Remainder of the Page Intentionally Left Blank]

                                       4
<PAGE>

         IN WITNESS  WHEREOF,  the Company has caused the Plan to be executed as
of the 14th day of October 1999.

                                            GREATER ROME BANCSHARES, INC.

                                            By:
                                              ---------------------------
                                            Title:
                                                  -----------------------

ATTEST:

---------------------------

Title:
       --------------------

         [CORPORATE SEAL]

                                       5

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