Document:

<PAGE>

                                                                     EXHIBIT 4.5

                                 PROMISSORY NOTE

$[NUMBER].00

                                                           December [DATE], 2001

        FOR VALUE RECEIVED, Sonic Foundry, Inc., a Maryland corporation, 1617
Sherman Avenue Madison, WI 53704 ("Maker"), promises to pay to the order of
[EMPLOYEE'S NAME] ("Payee"), [EMPLOYEE ADDRESS], or at such other address as
Payee may from time to time in writing designate, the principal sum of [WRITTEN
NUMBER] DOLLARS AND 00/100 ($[NUMBER].00), plus compounded interest accrued
semiannually at a rate of [WRITTEN RATE] percent ([PERCENT]%) per annum, payable
in a single payment of principal and accrued interest due on [DUE DATE].

        In the event of any "Event of Acceleration," as defined below, the
principal of this Note, together with any accrued and unpaid interest, may, at
the option of Payee, become immediately due and payable on demand.

        An "Event of Acceleration" shall mean the occurrence or existence of one
or more of the following events or conditions, whatever the reason for such
Event of Acceleration and whether voluntary, involuntary or effected by
operation of governmental rules, regulations, orders, statutes, ordinances or
other laws.

        a.  Maker shall fail to pay within five (5) business days of its due
     date the principal amount of this Note or any payment of interest due
     thereon;

        b.  Maker sells all, or substantially all of its assets, or enters into
     a merger or other definitive purchase agreement the purpose of which is to
     transfer Maker's business or a majority thereof to one or more third
     parties;

        c.  A proceeding shall have been instituted against Maker seeking a
     declaration or order for relief, or entailing a finding, that Maker is
     insolvent or bankrupt, or seeking reorganization, liquidation or other
     similar relief with respect to Maker, or seeking the appointment of a
     receiver, trustee, custodian, liquidator, sequestrator or similar official
     for Maker, and such proceeding shall remain un-dismissed and un-stayed for
     a period of thirty (30) consecutive days; or

        d.  Maker shall become insolvent or bankrupt, shall make a general
     assignment for the benefit of creditors, shall institute a proceeding
     described in subparagraph (c) above, shall consent to any such proceeding
     described in subparagraph (c) above, or shall take any action in
     furtherance of any of the foregoing.

        The indebtedness evidenced by this Note may be prepaid in whole or in
part at any time without penalty; provided, however, that any such prepayment in
part shall not relieve Maker from the obligation to make the payments of
principal and interest due thereon as set forth in this Note.

        This Note is not assignable without written advance consent by Maker.

        This Note shall be governed by, and construed in accordance with, the
internal laws of the State of Wisconsin.

        IN WITNESS WHEREOF, the undersigned has caused this Note to be duly
executed as of the date first set forth above.

                              SONIC FOUNDRY, INC.

                              By:__________________<PAGE>

                              CONSULTING AGREEMENT

     This Consulting Agreement (the "Agreement") made as of November 19th,
2001 by and between Sara Wetzel ("Consultant") and ShareCom, Inc. ("Company").

                                   WITNESSETH

     WHEREAS, the Company requires and will continue to require business
services relating to management, strategic planning and marketing for the
Company; and

     WHEREAS, Consultant shall provide Company with strategic planning and
marketing consulting services and is desirous of performing such services for
the Company; and

     WHEREAS, the Company wishes to induce Consultant to provide these
consulting services to the Company,

     NOW, THEREFORE, in consideration of the mutual covenants hereinafter
stated, it is agreed as follows:

     1. APPOINTMENT
     --------------

     The Company hereby engages Consultant and Consultant agrees to render
     various business services to the Company upon the terms and conditions
     hereinafter set forth.

     2. TERMS
     --------

     The term of this Agreement began as of the date of this Agreement, and
     shall terminate on November 30, 2002, unless earlier terminated in
     accordance with paragraph 7 herein or as extended by the parties from time
     to time.

     3. SERVICES
     -----------

     During the term of this Agreement, Consultant shall provide advice to,
     undertake for and consult with the Company concerning management,
     marketing, consulting, strategic planning, corporate organization and
     structure, sales matters in connection with the operations of the business
     of the Company. Consultant agrees to provide on a timely basis the
     following services, and additional services contemplated thereby:

<PAGE>

     (a)  The implementation of short-range and long-range strategic planning to
          develop and enhance the Company's products and services;

     (b)  Develop and assist in the implementation of a marketing program to
          enable the Company to broaden the markets for its services and promote
          the image of the Company and its products and services;

     (c)  Advise the Company relative to the recruitment and employment of
          marketing and sales personnel consistent with the growth of operations
          of the Company;

     (d)  The identification, evaluation, structuring, negotiating and closing
          of strategic alliances.

4. DUTIES OF THE COMPANY
------------------------

The Company shall provide Consultant, on a regular and timely basis, with all
data and information about it, its subsidiaries, its management, its products
and services and its operations as shall be reasonably requested by Consultant,
and shall advise Consultant of any facts which would affect the accuracy of any
data and information previously supplied pursuant to this paragraph. The Company
shall promptly supply Consultant with full and complete copies of all brochures
or other sales materials relating to its products and services.

5. COMPENSATION AND EXPENSE REIMBURSEMENT
-------------------------------------------

Concurrently with the execution hereof, the Company shall grant and issue to
Consultant the option to purchase 65,000,000 shares of $.0001 par value common
stock of the Company (the "Shares") which shall be registered with the United
States Securities and Exchange Commission and applicable state securities
agencies so as to enable the Shares to be freely saleable and tradable in the
public securities markets. The Company shall use its best and diligent efforts
to maintain all SEC and other registrations so as to enable said Shares to be
fully saleable and tradable for a period of five (5) years from the date hereof.
The option shall have an exercise price of $0.000923 per share, and shall expire
on November 30, 2005 at 5:00 P.M. C.S.T. Consultant in providing the foregoing
services shall be reimbursed for any pre-approved out-of-pocket costs,
including, without limitation, travel, lodging, telephone, postage and over
night shipping charges.

                                       2

<PAGE>

          The Company also agrees that if the Shares fail to attain a market
          price of $60,000 for five (5) separate trading days during a period of
          five (5) years from the date of Consultant's exercise of the option;
          then the Company shall issue a supplemental option to Consultant for
          additional Shares at the exercise price set forth in the initial
          option, upon the written demand of Consultant to the Company. If the
          Company fails to issue the supplemental option within five (5) days
          from the date of Consultants written demand notice, then it
          immediately shall pay to Consultant liquidated damages of $60,000.

          6.  REPRESENTATION AND INDEMNIFICATION
          --------------------------------------

          The Company shall be deemed to have been made a continuing
          representation of the accuracy of any and all facts, material
          information and data which it supplies to Consultant and acknowledges
          its awareness that Consultant will rely on such continuing functions.
          Consultant in the absence of notice in writing from the Company will
          rely on the continuing accuracy of material, information and data
          supplied by the Company. Consultant represents that he has knowledge
          of and is experienced in providing the aforementioned services.

          The Company agrees to indemnify, hold harmless and defend Consultant
          from any and all claims or demands of any kind relating to the
          Company's breach of its agreements hereunder.

          7.  MISCELLANEOUS
          ------------------

          Termination:   This Agreement may be terminated by Consultant upon
          ------------
          written notice to the Company for a material breach of this contract
          which shall be effective five (5) business days from the date of such
          notice

          Modification:  This Agreement sets forth the entire understanding of
          -------------
          the Parties with respect to the subject matter hereof, and may be
          amended only in a writing signed by both parties.

          Notices: Any notices required or permitted to be given hereunder shall
          -------
          be in writing and shall be mailed or otherwise delivered in person or
          by facsimile transmission at the address of such Party set forth above
          or to such other address or facsimile telephone number, as the Party
          shall have furnished in writing to the other Party.

          Waiver: Any waiver by either Party of a breach of any provision of
          ------
          this Agreement shall not operate as or be construed to be a waiver of
          any other breach of that provision or of any breach of any other
          provision of this Agreement. The failure of a Party to insist upon
          strict adherence to any term of this Agreement on one or more
          occasions will not be considered a waiver or deprive the other Party
          of the right thereafter to insist upon adherence to that term of any
          other term or this Agreement.

                                        3

<PAGE>

         Assignment: The Options under this Agreement are assignable at the
         -----------
         discretion of the Consultant.

         Severability: If any provision of this Agreement is invalid, illegal,
         ------------
         or unenforceable, the balance of this Agreement shall remain in effect,
         and if any provision is inapplicable to any person or circumstance, it
         shall nevertheless remain applicable to all other persons and
         circumstances.

         Disagreements: Any dispute or other disagreement arising from or out of
         -------------
         this Agreement shall be submitted to arbitration under the rules of the
         American Arbitration Association and the decision of the arbitrator(s)
         shall be enforceable in any court having jurisdiction thereof.
         Arbitration shall occur only in DuPage County, IL. The interpretation
         and the enforcement of this Agreement shall be governed by Illinois law
         as applied to residents of the State of Illinois relating to contracts
         executed in and to be performed solely within the State of Illinois. In
         the event any dispute is arbitrated, the prevailing Party (as
         determined by the arbitrator(s)) shall be entitled to recover that
         Party's reasonable attorney's fees incurred (as determined by the
         arbitrator(s)).

         IN WITNESS WHEREOF, this Agreement has been executed by the Parties as
         of the date first above written.

         COMPANY                                 CONSULTANT
         ShareCom, Inc.                          Sara Wetzel

         By: /s/ Brad Nordling                   By: /s/ Sara Wetzel
            ------------------                      ----------------
             Brad Nordling                          Sara Wetzel

                                       4

<PAGE>

                              CONSULTING AGREEMENT

       This Consulting Agreement (the "Agreement") made as of November 19th,
2001 by and between Francis S. Widen ("Consultant") and ShareCom, Inc.
("Company").

                                   WITNESSETH

       WHEREAS, the Company requires and will continue to require business
services relating to management, strategic planning and marketing for the
Company; and

      WHEREAS, Consultant shall provide Company with strategic planning and
marketing consulting services and is desirous of performing such services for
the Company; and

     WHEREAS, the Company wishes to induce Consultant to provide these
consulting services to the Company,

     NOW, THEREFORE, in consideration of the mutual covenants hereinafter
stated, it is agreed as follows:

     1. APPOINTMENT
     --------------

     The Company hereby engages Consultant and Consultant agrees to render
     various business services to the Company upon the terms and conditions
     hereinafter set forth.

     2. TERMS
     --------

     The term of this Agreement began as of the date of this Agreement, and
     shall terminate on November 30, 2002, unless earlier terminated in
     accordance with paragraph 7 herein or as extended by the parties from time
     to time.

     3. SERVICES
     -----------

     During the term of this Agreement, Consultant shall provide advice to,
     undertake for and consult with the Company concerning management,
     marketing, consulting, strategic planning, corporate organization and
     structure, sales matters in connection with the operations of the business
     of the Company. Consultant agrees to provide on a timely basis the
     following services, and additional services contemplated thereby:

<PAGE>

          (a)  The implementation of short-range and long-range strategic
               planning to develop and enhance the Company's products and
               services;

          (b)  Develop and assist in the implementation of a marketing program
               to enable the Company to broaden the markets for its services and
               promote the image of the Company and its products and services;

          (c)  Advise the Company relative to the recruitment and employment of
               marketing and sales personnel consistent with the growth of
               operations of the Company;

          (d)  The identification, evaluation, structuring, negotiating and
               closing of strategic alliances.

     4.  DUTIES OF THE COMPANY
     -------------------------

     The Company shall provide Consultant, on a regular and timely basis, with
     all data and information about it, its subsidiaries, its management, its
     products and services and its operations as shall be reasonably requested
     by Consultant, and shall advise Consultant of any facts which would affect
     the accuracy of any data and information previously supplied pursuant to
     this paragraph. The Company shall promptly supply Consultant with full and
     complete copies of all brochures or other sales materials relating to its
     products and services.

     5.  COMPENSATION AND EXPENSE REIMBURSEMENT
     ------------------------------------------

     Concurrently with the execution hereof, the Company shall grant and issue
     to Consultant the option to purchase 65,000,000 shares of $.0001 par value
     common stock of the Company (the "Shares") which shall be registered with
     the United States Securities and Exchange Commission and applicable state
     securities agencies so as to enable the Shares to be freely saleable and
     tradable in the public securities markets. The Company shall use its best
     and diligent efforts to maintain all SEC and other registrations so as to
     enable said Shares to be fully saleable and tradable for a period of five
     (5) years from the date hereof. The option shall have an exercise price of
     $0.000923 per share, and shall expire on November 30, 2005 at 5:00 P.M.
     C.S.T. Consultant in providing the foregoing services shall be reimbursed
     for any pre-approved out-of-pocket costs, including, without limitation,
     travel, lodging, telephone, postage and over night shipping charges.

                                       2

<PAGE>

     The Company also agrees that if the Shares fail to attain a market price of
     $60,000 for five (5) separate trading days during a period of five (5)
     years from the date of Consultant's exercise of the option; then the
     Company shall issue a supplemental option to Consultant for additional
     Shares at the exercise price set forth in the initial option, upon the
     written demand of Consultant to the Company. If the Company fails to issue
     the supplemental option within five (5) days from the date of Consultants
     written demand notice, then it immediately shall pay to Consultant
     liquidated damages of $60,000.

     6.  REPRESENTATION AND INDEMNIFICATION
     --------------------------------------

     The Company shall be deemed to have been made a continuing representation
     of the accuracy of any and all facts, material information and data which
     it supplies to Consultant and acknowledges its awareness that Consultant
     will rely on such continuing functions. Consultant in the absence of notice
     in writing from the Company will rely on the continuing accuracy of
     material, information and data supplied by the Company. Consultant
     represents that he has knowledge of and is experienced in providing the
     aforementioned services.

     The Company agrees to indemnify, hold harmless and defend Consultant from
     any and all claims or demands of any kind relating to the Company's breach
     of its agreements hereunder.

     7.  MISCELLANEOUS
     -----------------

     Termination:  This Agreement may be terminated by Consultant upon written
     -----------
     notice to the Company for a material breach of this contract which shall be
     effective five (5) business days from the date of such notice

     Modification: This Agreement sets forth the entire understanding of
     ------------
     the Parties with respect to the subject matter hereof, and may be amended
     only in a writing signed by both parties.

     Notices:      Any notices required or permitted to be given hereunder
     -------
     shall be in writing and shall be mailed or otherwise delivered in person or
     by facsimile transmission at the address of such Party set forth above or
     to such other address or facsimile telephone number, as the Party shall
     have furnished in writing to the other Party.

     Waiver:       Any waiver by either Party of a breach of any provision of
     ------
     this Agreement shall not operate as or be construed to be a waiver of any
     other breach of that provision or of any breach of any other provision of
     this Agreement. The failure of a Party to insist upon strict adherence to
     any term of this Agreement on one or more occasions will not be considered
     a waiver or deprive the other Party of the right thereafter to insist upon
     adherence to that term of any other term or this Agreement.

                                        3

<PAGE>

     Assignment:    The Options under this Agreement are assignable at the
     ----------
     discretion of the Consultant.

     Severability:  If any provision of this Agreement is invalid, illegal, or
     ------------
     unenforceable, the balance of this Agreement shall remain in effect, and if
     any provision is inapplicable to any person or circumstance, it shall
     nevertheless remain applicable to all other persons and circumstances.

     Disagreements: Any dispute or other disagreement arising from or out of
     -------------
     this Agreement shall be submitted to arbitration under the rules of the
     American Arbitration Association and the decision of the arbitrator(s)
     shall be enforceable in any court having jurisdiction thereof. Arbitration
     shall occur only in DuPage County, IL. The interpretation and the
     enforcement of this Agreement shall be governed by Illinois law as applied
     to residents of the State of Illinois relating to contracts executed in and
     to be performed solely within the State of Illinois. In the event any
     dispute is arbitrated, the prevailing Party (as determined by the
     arbitrator(s)) shall be entitled to recover that Party's reasonable
     attorney's fees incurred (as determined by the arbitrator(s)).

     IN WITNESS WHEREOF, this Agreement has been executed by the Parties as of
     the date first above written.

     COMPANY                                    CONSULTANT
     ShareCom, Inc.                             Francis S. Widen

     By: /s/ Brad Nordling                      By: /s/ Francis S. Widen
         -------------------------                  ------------------------
         Brad Nordling                              Francis S. Widen

                                        4

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