Christopher Reynolds shot his employee Ernest Hoskins, Jr. in November during a business meeting at Reynolds' home.
Reynolds told police when he didn't mean to shoot Hoskins and didn't know the gun was loaded when he pointed it at him.
Instead of taking the case to court, Reynolds agreed to a plea deal with special prosecutor Jack McQuary for the maximum sentence under manslaughter of 120 months.
McQuary said it's not often a defendant takes a plea deal for the maximum sentence under the charge without a trial.
"He had expressed remorse completely to law enforcement, he had expressed remorse to others," McQuary said. "His attorney informed me he will agree to the maximum under this because he, in his words, feels horrible this happened because he considered Ernest a friend."
Reynolds was taken into custody Wednesday morning.
In November, Hoskins' family hired attorney Benjamin Crump, best known as Trayvon Martin's family's attorney.
There is no word from Hoskins' family on whether they will file civil charges.