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The information about effort is private to the agent -- the principal pays according to observed output, which is stochastic and depends on effort, human capital of the agent and random disturbances. It is assumed that the output \\(Y_t\\) at any moment \\(t\\) is described by the stochastic differential equation \\(dY_t = (a_t + h_t)dt + \\sigma dZ_t\\) (where \\(a_t\\) is the effort, \\(h_t\\) the human capital and \\(Z\\) a Wiener process). The effort of the agent also increases deterministically her stock of human capital according to the equation \\(dh_t = (a_t - \\delta h_t)dt\\), where \\(\\delta\\) is a depreciation coefficient. The agent seeks to maximize her discounted total expected utility (which depends on effort and wages \\(w\\)) and the principal tries to maximize discounted total sum of output diminished by paid wages.  The author develops an optimal contract for this setup. 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