EMPLOYMENT CONTRACT
THIS CONTRACT OF EMPLOYMENT (“this Agreement”) is entered into by and between [NAME] of address [ADDRESS] (“Employer”) and [NAME] of address [ADDRESS] (“employee”) on [DATE]
WHEREAS the employer is a commercial loan broker packaging loan requests and places them with its funding sources all over the country;
WHEREAS the reason for the appointed position is to expand the employer’s efforts in the equipment finance capacity;
WHEREAS the Employer desires to obtain the benefit of the services of the Employee, and the
Employee desires to render such services on the terms and conditions set forth.
NOW, THEREFORE, in consideration of the premises, and of the mutual promises and undertakings herein contained, the parties, intending to be legally bound, do agree as follows:
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- APPOINTMENT AND RESPONSIBILITIES
- The EMPLOYEE hereby accepts the appointment and is appointed as a Sr. Equipment Finance Broker.
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- The role of the employee is to call on equipment resellers and companies that need lease and loan service or whose clients need lease or loan services.
- The Employee is required to;
- Be time conscious in all their undertaking including but not limited to appointments.
- Give normal updates to management
- Be professional in demeanor
- Be presentable at all times
- Respond to all emails and voicemails with respect to the job
- Plan sales activities
- Gather documentation
- Submit deal packages in an accurate and timely manner
- Conduct calls and face to face meetings with customers / clients/prospect daily and maintain relationships on behalf of the company with new and repeat customers.
- Educate customers on how products or services can benefit them financially and professionally.
- The Employee agrees that he/she will at all times faithfully, industriously, and to the best of his/her skill, ability, experience and talents, perform all of the duties required of his/her position. In carrying out these duties and responsibilities, the Employee shall comply with all Employer policies, procedures, rules and regulations, both written and oral, as are announced by the Employer from time to time. It is also understood and agreed to by the Employee that his assignment, duties and responsibilities and reporting arrangements may be changed by the Employer in its sole discretion without causing termination of this agreement.
- COMPENSATION
- The appointed position is an outside sale role and will be exempted from overtime. The role is 100% commission and is an outside sale role and therefore exempt from hourly pay and overtime.
- The Employee shall be entitled to an incentive plan for specific rates and amounts. The Incentive plan can change at any time to suit the best interests of the company’s future and so on.
- The incentive plan shall be attached to this contract for further details and clarification
- DURATION
This agreement will become affective as from ___________ (insert date) and it will continue for an indefinite period until it has been cancelled in terms hereof.
- PROBATION PERIOD
It is understood and agreed that the first six months of employment shall constitute a probationary period during which period the Employer may, in its absolute discretion, terminate the employee without just cause.
- TERMINATION
- The Employee may at any time terminate this agreement and his/her employment by giving not less than 21 days written notice to the Employer.
- The Employer may terminate this Agreement and the Employee’s employment by giving not less than 21 day written notice to the Employee.
- The employee agrees to return any property of the Employer in the event of termination.
- NON-COMPETITION
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- It is further acknowledged and agreed that following termination of the employee’s employment with the company for any reason, the employee shall not hire or attempt to hire any current employees of the Company.
- It is further acknowledged and agreed that following termination of the employee’s employment with the Company for any reason, the employee shall not solicit business from current clients or clients who have retained the Company in a period of ______________ [month/years] immediately preceding the employee’s termination.
- CONFIDENTIALITY
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- Confidential Information
For purposes of this Contract, “Confidential Information” shall mean information or material proprietary to the Employer or designated as confidential by the Employer.
Confidential information includes information pertaining to Clients, funding sources, partners and general information learned about in the role.
- Non-Disclosure. The Employee hereby agree that during the term hereof and at all times thereafter, and except as specifically permitted herein or in a separate writing signed by the Employer , the Employee shall not use, commercialize or disclose confidential Information to any person or entity.
- The employee shall not disclose confidential information to any person or entity not material to credit request.
- Upon termination, or at any time upon the request of the Disclosing Party, the Receiving Party shall return to the Disclosing Party all Confidential Information, including all notes, data, reference materials, sketches, drawings, memorandums, documentations and records which in any way incorporate Confidential Information.
- GOVERNING LAWS
This Agreement shall be construed and governed in accordance with the laws of the State of Washington
- INDEPENDENT LEGAL ADVICE
The Employee acknowledges that the Employer has provided the Employee with a reasonable opportunity to obtain independent legal advice with respect to this agreement, and that either:
(a) The Employee has had such independent legal advice prior to executing this agreement, or;
(b) The Employee has willingly chosen not to obtain such advice and to execute this agreement without having obtained such advice.
- ENTIRE AGREEMENT
This agreement contains the entire agreement between the parties, superseding in all respects any and all prior oral or written agreements or understandings pertaining to the employment of the Employee by the Employer and shall be amended or modified only by written instrument signed by both of the parties hereto.
- SEVERABILITY
The parties hereto agree that in the event any article or part thereof of this agreement is held to be unenforceable or invalid then said article or part shall be struck and all remaining provision shall remain in full force and effect.
- DISPUTES
Any dispute relating to any rights and/ or obligations arising from this Agreement which is not resolved by the parties shall be arbitrated by a competent arbitration team.
In the event where a meaningful resolution is not achieved, the dispute will be litigated in a court of competent jurisdiction with each party responsible for their own legal fees.
- INDEMNIFICATION
The Employee shall indemnify and hold the Employer harmless for any loss or liability arising from performing services under this agreement unless it is as permitted by the law on grounds of negligence on the part of the Employer.
IN WITNESS WHEREOF the Employer has caused this agreement to be executed by its duly authorized officers and the Employee has set his hand as of the date first above written.
SIGNED, SEALED AND DELIVERED in the presence of:
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[Name of employee]
________________________________________
[Signature of Employee]
________________________________________
[Name of Employer Rep]
________________________________________
[Signature of Employer Rep]
[Title]
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