April 1997
XXXXXXX INVESTMENTS (NZ) LIMITED
SALARIED EMPLOYMENT CONTRACT
NAME: XXXX XXXXXXX
POSITION: CHIEF EXECUTIVE OFFICER
RESPONSIBLE TO: BOARD OF DIRECTORS
LOCATED AT: HEAD OFFICE, AUCKLAND
XXXXXXX INVESTMENTS (NZ) LIMITED
SALARIED EMPLOYMENT CONTRACT
BETWEEN: XXXXXXX INVESTMENTS (NZ) LIMITED
AND XXXX XXXXXXX
COMMENCEMENT
OF EMPLOYMENT: 1 APRIL 1997
The terms and conditions contained herein supersede and replace any terms and
conditions of employment that may have applied prior to the coming into force of
this contract.
1. DUTIES/RESPONSIBILITIES
A copy of your job description as attached outlines your duties and
responsibilities of your position. Because of the changing nature of the
business, other duties will be included as agreed between the parties from time
to time. It is expected that those duties will be performed in accordance with
the instructions of the Company and that you will devote all of your normal
working hours and best endeavour to performing these duties outlined in a manner
which will promote the interest of the company.
2. HOURS OF WORK
(a) Your hours of work are a minimum of 40 per week to be worked on 5 days of
the week Monday to Friday inclusive, between the hours of 8 am to 5.30 pm.
Your hours of work and any conditions relating to them may be varied by
mutual agreement.
(b) The Company may require you to work more than 40 hours per week to fulfil
the responsibilities of your position. Payment for such time worked in
excess of the weekly hours have been included in your salary package.
You may be required to work on Saturday or Sunday as required from time to
time by the Company.
(c) Rest periods and meal breaks may be taken at your discretion, of up to 1
hour per day.
3. REMUNERATION
(a) Total package is $195,000 gross per annum.
(i) Your base salary is $162,600 gross per annum, reviewed annually.
(ii) Motor Vehicle Allowance - You shall receive an annual Motor Vehicle
Allowance to the value of $32,400 gross per annum, with company
fuelcard provided.
(b) Expenses - Expenses incurred by yourself while performing our business
shall be reimbursed according to the Company Expenses Policy.
(c) Medical Insurance - You are invited to take advantage of the
Xxxxxxx/Southern Cross Group Scheme.
4. PAYMENT OF REMUNERATION
(a) Your base salary shall be deposited into the bank account of your choice by
direct credit on the 15th of each month or the first working day after the
15th. Such payment being made in advance up to and inclusive of the end of
the month.
(b) The vehicle allowance shall be deposited monthly on the 15th of each month,
included with your salary payment, and paid by direct credit as above.
(c) No deduction shall be made from your salary without your consent, except
for time lost through sickness or default or accident to yourself, unless
required by law.
(d) The Company will provide you with a statement of your earnings and
deductions for a pay period at your request or where there is any change to
your salary payments.
5. STATUTORY HOLIDAYS
(a) Public holidays shall be granted and observed in accordance with the
provisions of the Holidays Act 1981.
(b) Any time worked on a statutory holiday that has been authorised by your
manager shall be taken in lieu on a day that is mutually agreed upon and
credited to your annual holiday accumulation.
6. ANNUAL HOLIDAYS
(a) Annual holidays are provided in accordance with the provisions of the
Holidays Act 1981 and its amendments.
(b) From the date of commencement, you shall be entitled to an annual holiday
of 4 weeks. Where your employment is terminated at the end of a period of
employment which is less than one year, the Company shall pay you an amount
equal to 6% of your gross taxable earnings, minus any holiday pay you have
already received. Requests for annual leave must be submitted for approval
at least 30 days in advance.
(c) Service Holiday - Where you have completed 5 years current continuous
service you shall become entitled to an annual holiday of 5 weeks instead
of the 4 weeks provided for in (b) above.
7. SICK LEAVE AND DOMESTIC LEAVE
(a) From the date of commencement you shall be entitled to sick pay of 7 days
for the following 12 month period and for each subsequent year of service
thereafter.
Sick pay shall be accumulative to up to 21 days.
(b) The company may, at its discretion, require you to provide a medical
certificate for any sick leave or domestic leave absence. You shall be
required to provide a medical certificate where you are absent for more
than 2 days for sick leave or domestic leave absence.
(c) You shall ensure notice is given to us that you are sick or taking domestic
leave, not later than one hour prior to your normal commencing time and you
shall notify us as soon as possible when a return to work is likely.
(d) The Company shall also have the right to require you to produce
additionally, a medical certificate at our expense, from a doctor nominated
by ourselves.
(e) Domestic Leave - Where you have any unused sick leave entitlement, leave of
up to 7 days per year shall be granted where you find it essential to stay
at home in an emergency in the event of illness of a dependant child or
spouse's illness or dependant parent or maternity confinement. Such leave
shall be treated as though it was due to your own sickness and this shall
be set off against your own sick leave entitlement.
(f) Sick leave and domestic leave will not be paid on a day on which a holiday
is being observed.
(g) Your manager may at their discretion grant additional sick leave or
domestic leave with/without pay where special circumstances exist.
8. BEREAVEMENT LEAVE
(a) In the event of the death of any of your immediate family, ie your spouse
or defacto partner, child, stepchild, parent, brother, sister,
mother-in-law, father-in-law, brother-in-law, sister-in-law, grandparent,
or grandchild, the Company shall allow paid leave up to a maximum period of
3 days on each occasion. The Company may, at our discretion, ask you for
confirmation of the bereavement.
(b) The company may at its discretion, grant additional leave without pay where
the Company consider special circumstances exist.
9. SPECIAL HOLIDAYS CLAUSE
Note that the entitlements in Clauses 7 and 8 are inclusive of and not in
addition to the entitlements for Special Leave provided in Section 30 (A) of the
Holidays Act 1981 and amendments.
10. CONTINUATION OF SERVICE CLAUSE
Your service with Sealcorp Computer Products Ltd will be recognised and all
service related entitlements will be carried over to your employment with
Xxxxxxx Investments NZ Ltd. For these purposes, the company records your start
date as October 1987.
11. UNPAID LEAVE
Where you need to be away from work for personal reasons the company may grant
limited time off work without pay. Such leave must be authorised by the company
in advance. Please make a request for such leave as far ahead of the intended
date as possible and talk to your manager regarding the circumstances for the
leave. Such approved leave must be recorded on an official leave application
form.
12. PARENTAL LEAVE
Parental Leave shall be granted in accordance with the provisions of the
Parental Leave and Employment Protection Act 1987 and its amendments.
13. JURY SERVICE
(a) Where you are obliged to undertake jury service, the difference between the
fees (excluding reimbursing payments) paid by the Court and your salary
shall be made up by ourselves provided:
(i) That you produce the Court expenses voucher to us.
(ii) That you return to work immediately on any day that you are not
actually serving on a jury.
(b) These payments shall be made for up to a maximum of 5 days in respect of
each separate period of jury service.
(c) You must advise us on the first normal work day after notification of jury
service is received.
14. TUITION LEAVE
(a) Where, with the Company's prior written approval, you attend any
job-related course during working hours, you shall be allowed paid time
off. Where you pass all the necessary requirements and complete the course,
the company may reimburse you for half the cost of tuition and examination
fees.
(b) Where you initiate and take tuition leave at your own request and where you
terminate your own employment within 12 months of having the tuition fees
or examination fees paid on your behalf, you shall reimburse the Company
for fees outlaid on a pro rata basis.
15. TERMINATION OF EMPLOYMENT
(a) Notification - Employment may be terminated with 1 months notice by either
party or where the employment is terminated by either party without notice
1 months pay shall be paid or forfeited in lieu of notice. This provision
shall not prevent us from summarily terminating the employment in the case
of serious misconduct and/or serious breach of contract.
(b) Deductions -
(i) Where company issued gear or property is lost, or in our opinion
wilfully damaged it will be treated as a default by yourself and the
Company shall have the right to recover from you the cost of repairing
or replacing any such items.
(ii) Where employment is terminated by either party and the effective last
day of duty is prior to the normal pay period end date, the Company
shall be entitled to deduct or recover such salary paid in advance.
(c) Redundancy -
(i) In the event that your position becomes surplus to the needs of the
Company, you shall be given notice of termination in accordance with
the provisions of subclause 14(a).
(ii) Redundancy compensation shall be calculated on the basis of four
weeks pay for the first year of service with the Company and two
weeks pay for each subsequent year of service. For the purposes of
this clause, a week's pay shall be 1/52 of your annual salary.
(iii) No redundancy compensation shall be payable in any situation where
the termination of your employment arises as a result of the sale or
transfer of the whole or part of the Company's business if the person
acquiring the business or part being sold or transferred has offered
you employment in the business or part being sold or transferred and
the conditions of employment offered to you by the person acquiring
the business or the part of the business being sold or transferred
are similar to, or more favourable than, those provided for by this
contract, or are otherwise acceptable to you.
16. RESTRAINT OF TRADE
(a) In order to protect the employer's proprietary interests, for three months
after the termination of this contract you shall not engage to work for or
on behalf of an organisation in direct competition with this Company, nor
establish your own business in competition with this Company. Nor shall you
solicit in competition with the Company the custom of any person who has at
any time during the period of your employment by the Company been a
customer of the Company or who will become a customer of the Company as a
result of any tender, negotiations, arrangements or proceedings made or
taking place at the date of such termination.
(b) Consideration for this restraint is included in the remuneration package
provided in clause 3 of this contract.
(c) It is acknowledged that in view of your position with the Company and your
direct association with the customers of the Company during your
employment, the restraint provided for in subclause (a) is fair and
reasonable and does not inhibit your ability to earn a reasonable living.
17. PERSONAL GRIEVANCE/DISPUTES
The Company consider it desirable that any dispute over the interpretation
application or operation of this contract or any grievance of any employee be
resolved as quickly as possible at the place of work between ourselves.
Personal grievances and disputes shall be as defined under the Employment
Contracts Act 1991. Personal Grievance procedures shall be in accordance with
the First Schedule of the Employment Contracts Act 1991. Disputes procedures
shall be in accordance with the Second Schedule of the Employment Contracts Act
1991.
18. VARIATIONS
Any of the terms and conditions contained in this contract may be varied by
mutual agreement.
19. OTHER PROVISIONS
(a) I agree to abide by all Company Policies as may from time to time be in
operation.
(b) I agree to work a reasonable number of hours in excess of my weekly hours
as may be required by the Company.
(c) I agree, in the event of termination of my employment to the deduction from
my final pay for any unreturned company property, or other debt owing to
the company, whatsoever it may be.
(d) I agree, during the period of my employment or at any time thereafter, not
to disclose to any unauthorised person or company, or otherwise make use
of, any confidential or secret information related to or obtained as a
result of my employment with the Company including, without limiting the
generality of processes, customer lists, formulae, designs, new products,
finances or relating to know-how, inventions, improvements or other matters
connected with the products or services manufactured, marketed, provided or
obtained by the Company.
20. DECLARATION
I (full name) ___________________ declare that I have read and understand the
conditions of employment detailed above and accept them fully. I further declare
that I have read (or had explained to me to my satisfaction) the House Rules and
accept them.
Signed: Date:
------------------------------------- ----------------------
XXXX XXXXXXX
Signed: Date:
------------------------------------- ----------------------
FOR AND ON BEHALF OF
XXXXXXX INVESTMENTS (NZ) LIMITED
Enclosed: Job Description
House Rules
