ASSIGNMENT AGREEMENT- D & M Securities

ASSIGNMENT AGREEMENT

THIS ASSIGNMENT AGREEMENT (“this agreement”), effective as of [DATE], is made and entered into by and between XXXX (“the Assignor”), and XXX (“the Assignee”), (“the Parties”). 

WHEREAS the Assignor offers Security Guard Services, and

WHEREAS the Assignee is a member of staff in Assignor’s company, and

WHEREAS the Assignor offers to assign the Assignee to do payroll services for the Assignor, and the Assignee accepts such offer under the provision of this Agreement. 

Now, Therefore, in consideration of the foregoing premises, and of the mutual promises and covenants herein contained, the parties, intending to be legally bound, do hereby agree as follows:

  1. ASSIGNOR’S OBLIGATION(S)
  1.   The Assignor shall add the Assignee to the Assignor’s bank account.
  2.  The Assignor shall ensure that money is available in the said bank account for the Assignee to fulfill his obligations under this Agreement.
  1. ASSIGNEE’S OBLIGATION(S) UNDER THE ASSIGNMENT

The Assignee will hand out payrolls bi-weekly at the Assignee’s leisure preferably on Tuesdays.

  1. REPRESENTATIONS AND WARRANTIES OF THE ASSIGNEE

The Assignee represents and warrants that:

  1.  The Assignee will be added to the Assignor’s bank account.
  2. The Assignee will withdraw ONLY payroll expenses on paydays ONLY.
  3.  The Assignee shall withdraw weekly fees on Paydays.
  4.  The Assignee shall obtain consent in writing for any additional withdrawals.
  5.  The Assignee shall ONLY withdraw the specific amounts for payroll.
  6.  The Assignee will receive every person’s amounts for payroll every Monday to be withdrawn on Tuesdays or at the Assignee’s leisure. 
  1. COMPENSATION
  1.   The Assignee shall be entitled to reasonable compensation from the Assignor for all services rendered by the Assignee under this Agreement. The said compensation amount shall be [ENTER AMOUNT] payable via [ENTER METHOD OF PAYMENT].
  1.   The Assignee shall also be entitled to reimbursement from the Assignor for all expenses paid or incurred by it in the administration of its obligations under this Agreement.
  1. INDEMNIFICATION
  1.  Notwithstanding the foregoing, the Assignor agrees to defend and indemnify the Assignee from any and all claims, actions, judgments, liabilities, proceedings, and costs, including reasonable attorney fees and other costs of defense and damages resulting from the Assignor’s performance prior to this Assignment and resulting from the Assignor’s failure to perform their obligations in this Agreement.
  2.   Notwithstanding the foregoing, the Assignee agrees to defend and indemnify the Assignee from any and all claims, actions, judgments, liabilities, proceedings, and costs, including reasonable attorney fees and other costs of defense and damages resulting from the Assignee’s failure to perform their obligations in this Agreement.
  1. DISPUTE RESOLUTION

All or any disputes arising out or touching upon or in relation to the failure of either party to this Agreement to comply with any provision in this Agreement shall be settled by litigation. 

  1. JURISDICTION
  1.   Each party hereto irrevocably and unconditionally submits to the exclusive jurisdiction of the courts of the State of Oklahoma, in any action or proceeding arising out of or relating to this agreement. 
  1.   Each of the parties hereto irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding shall be heard and determined in such Oklahoma courts. 
  1.   Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 
  1. TERM 

The term of this Agreement commences on [STARTING DATE] and continues until [END DATE] or until otherwise terminated by the parties.

  1. TERMINATION
  1.   This Agreement shall be terminated upon a failure by either party of this Agreement to fulfill their obligations under this Agreement. 
  1.   In all other circumstances, and subject to Section 7 of this Agreement, either Party to this Agreement may terminate this Agreement upon written notice of termination to the other Party. 
  1. .  Upon termination, any accrued entitlements by the parties to this Agreement will be settled unless otherwise required.
  • CONFIDENTIAL INFORMATION
  •   During the term of this Agreement and after it has ceased, the Assignee SHALL NOT unlawfully use or divulge any confidential information to any third party.
  •   For the purposes of this Agreement, Confidential information includes all confidential information of the Assignor, including without limitation (i) information derived from Assignor’s bank reports, investigations, and work in progress, (ii) the contents of payrolls, (iii) Assignor’s historical financial information and financial projections, (ix) Assignor’s bank account balance and all other information that is publicly unavailable. 


  •  ENTIRETY
  •  This Agreement represents the entire Agreement between the two parties and supersedes any previous written or oral agreement. 
  1.  This Agreement may be modified at any time, provided the written consent of both the Assignor and the Assignee.
  1.  The Assignee enters this Agreement based on the terms and conditions herein, and not based on any representation made by any person other than as set out in this Agreement.
  • SEVERABILITY

The parties agree that if any portion of this contract is found to be void or unenforceable, it SHALL be struck from the record, and the remaining provisions will retain their full force and effect.

In Witness Whereof, this Agreement is duly executed by the parties or their duly authorized representatives as set forth below:

SIGNATURES:

________________________ ______________________

Craig Quaintly                 Date

_______________________ ________________________   

XXX                      Date

_______________________ ________________________   

XXX                  Date

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