Employment contract assignment PDF

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Contract for employment assignment...

Description

Title: Employment Contract Student Name: Dhanush Pavuluri Student Number: 8088742 Course Name/Code: HRM 8250 – Employment Law Course Instructor: Ivan Luksic Assignment Due Date: April 1, 2018

Employment Contract Page 2

March 27, 2018

Private and Confidential

Edward Wong 49 Vanier Drive Kitchener, Ontario N2C 2P6 Dear Edward Wong: FULL-TIME EMPLOYMENT AGREEMENT I am pleased to offer you full-time employment with DRZ Inc. in the role of Investment advisor in our small investment firm commencing April 1. This offer is based on the following terms. Job Description  

You must be registered in Investment Industry Regulatory Organization of Canada (IIROC) as an Investment Advisor. You must meet all the requirements of the Ontario Securities Commission for Investment Advisors.

Compensation You will be paid a 2.5% commission for each new investment account transferred under your management, payable all commissions within three weeks in accordance with the DRZ’s payroll policy. The minimum wage covers the normal 44 hours of work per week. Time beyond this is paid out at straight time, up to the maximum allowed by the applicable provincial legislation for the province where you normally work. Time beyond the straight time maximum for your province will be paid out at the appropriate multiple of your hourly rate of pay, in accordance with the applicable provincial standard. Salaries are currently reviewed annually and any salary increases are based on merit and performance.

Benefits

Employment Contract Page 3 You will be entitled to participate in the normal DRZ benefit plans set out in the DRZ’s Employee Reference Guide effective the first day of your employment, and your coverage will be subject to the terms and conditions of the benefit plans, policies or contracts. The guide containing the DRZ Benefit Booklet will be provided to you upon commencement of employment. You will be entitled to a medical and dental plan which pays 80% of the costs of medical, dental and prescription drug. You will receive a monthly car allowance of $400 per month. No receipts are required for this. Vacation You will be entitled to three weeks of vacation after 12 months and vacation pay equivalent to 6% of salary. Vacations are provided in accordance with the DRZ’s vacation policies. By accepting this offer you acknowledge that any paid vacation taken in advance of being earned will be repaid by you to the DRZ and deducted from your final pay should your employment with the DRZ be terminated for any reason by you or the DRZ. By signing this agreement, you authorize the DRZ to deduct the amount of such advances from your final pay cheque and agree to pay to the DRZ any amount remaining unpaid after such deduction. Responsibilities You will agree to perform duties as may be fixed and assigned to you and which may be altered from time to time to meet the changing needs of the DRZ, bearing in mind the nature of the DRZ’s business and the need for flexibility. You agree to use your best efforts to promote the interests of the DRZ and to devote your entire professional time, ability and attention to the business of the DRZ during the term of this agreement. Our employees are provided formal feedback on their performance on an annual basis. We also encourage our managers to provide feedback to their employees on a more frequent basis, and we encourage our employees to request feedback on their own performance whenever it is important to them. Hours of Work Hours of work is determined in accordance with DRZ policies. Currently the hours of work for your position are 9 a.m. to 5 p.m., Monday to Saturday.

Probation

Employment Contract Page 4 During the first three months of employment with the DRZ, your status will be that of a probationary employee. During this period of time, your suitability as an employee will be evaluated as well as your skill and ability in meeting the requirements of the job. It is understood and agreed that the DRZ will be the sole judge of your suitability, skills and ability, and it is acknowledged by your acceptance of this offer that at any time during the three-month probationary period the DRZ may terminate your employment for any reason by providing no notice during the first three months. You may be subject to a performance evaluation at the end of the probationary period. Conflict of Interest While employed by the DRZ, it is hereby agreed that you will not engage in any other business or paid employment (other than volunteer and charitable work) without prior written consent from the DRZ. Exceptions to this policy will not be made if the DRZ believes that such outside work could interfere with your performance or responsibilities. As well, conflicts of interest and use of DRZ time for other matters are prohibited.

Confidentiality and Company Policies You understand and agree that information regarding the DRZ, its clients, and its working relationships with its clients is confidential. You agree to be bound by the terms of the DRZ’s policies that refer to Confidential and Proprietary Information and Personal Trading, as amended from time to time. You acknowledge and agree to abide by applicable industry rules and regulations, and policies of DRZ. No Solicitation You expressly agree that you will not, either during your employment or for a period of six months following termination of your employment for any reason (including termination with or without cause or resignation), directly or indirectly, by any means, in any capacity, approach, solicit, or contact or attempt to direct away from DRZ, any clients or prospective clients or employees located anywhere in Ontario or in any manner assist any new employer, any competitive business, any person or entity in any of the foregoing activities. "Clients or prospective clients" includes any person solicited, serviced or contacted by you on behalf of DRZ during your employment with the DRZ and any person or entity known by you to have been a client of the DRZ during your employment.

Resignation from Employment

Employment Contract Page 5 If you resign from employment you agree to provide the DRZ with two weeks of written notice of your planned departure and agree to co-operate in the transition. Company Property Upon termination of employment for any reason (including resignation), you agree to return all DRZ property including all client account records, account statements, account documentation and other information relating to client accounts, DRZ products, business plans, etc., regardless of whether recorded on paper or electronically and agree not to retain copies of these. Termination DRZ may terminate your employment at any time by providing 3 weeks in lieu of notice for every year you are employed by DRZ. Legal and Credit Check The hiring of all employees is contingent upon a positive response to a “legal and credit check”. This can only be completed by the DRZ with your consent. Therefore, please sign the enclosed authorization. Obtaining security clearance is also a condition of employment. Therefore, we suggest that you do not resign from your current position until security clearance has been obtained and communicated to you. In the event that the results of these checks are unacceptable to the DRZ, your employment will be terminated immediately for cause without any further obligations to you by DRZ. Modification of Agreement Any modification to this Agreement must be in writing and signed by the parties or it shall have no effect and shall be void. Applicable Law This Agreement shall be governed by and construed in accordance with the laws applicable in the Province of Ontario by a court of competent jurisdiction.

Use of Personal Information

Employment Contract Page 6 DRZ collects personal information to enrol and administer:   

Employee benefits, pension plans, payroll and tax deductions for Canadian Customs and Revenue Agency DRZ’s Service Awards, statistical demographic studies and statutory reporting Processes where authentication of individual identity is required

By accepting this offer, you acknowledge and consent to the use of personal information to meet those organizational needs on an ongoing basis. This offer is made on the assumption that the description you have given me of your education, background, experience and skills is accurate, complete and properly reflects your expertise. Please note that the giving of false information to the DRZ by you will be just cause for termination of your employment. If the foregoing is acceptable, please sign and return the attached copy of this agreement by March 29, 2018. Edward, we are pleased at the prospect of you joining the DRZ and are hopeful that your career with us will be both challenging and rewarding for you. I look forward to you joining our team. Welcome aboard! Sincerely, DRZ Inc. Dhanush Pavuluri HR Manager Human Resource Department

This letter and attachments contain the final, complete and exclusive agreement with respect to your employment and supersedes any prior discussions between you and any member of DRZ or its affiliates. All terms and conditions of this offer are to be kept strictly confidential. Accepted and agreed to at ________________________, 20__.

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