INTERNATIONAL OFFSHORE INVESTMENT BANK
(The "Employer")
AND
1. For good consideration, the Bank employs the Employee on the following terms and conditions.
2. TERM OF EMPLOYMENT: Subject to the provisions for termination set forth below this agreement will begin on 3rd OCT. unless sooner terminated.
3. SALARY: The Bank shall pay Employee a salary of £9, 400.00 Euros every month after tax deduction, for the services of the Employee, payable at regular payroll periods.
3.1 Employer for each intercontinental trip shall pay £2500.00 Euros flat rate travel/entertainment allowance to employee. Travel shall be by business class/first class. However for the purpose of commencement, the cost of travel ticket shall be paid in addition to travel/entertainment allowance.
3.2 Employer shall also take care of employees' travel ticket including that of employees' family only on employees' early notification to employer and as shall be requested by employee.
3.2 Adequate private office space in a conducive and comfortable work environment shall be provided for employee.
3.3 Employee will obtain Turkey Valid papers documents through the service of Travel Counsellors Agency on their expenses to show their readiness, preparedness, and willingness and later be reimbursed before embarking to Turkey.
4. DUTIES AND POSITION: The Bank hires the Employee in the capacity of Business Analyst. The Employee's duties may be reasonably modified at the Bank's discretion from time to time.
4.1 JOB LOCATION: Mevkii No.2 İstinye 34460 Istanbul Turkey, 8070
4.2 RESUME WORK DAY: 25th October
4.3 CONTRACT DURATION: TWO YEAR
5. JOB PROCEEDING/REQUIREMENT:
New employed and recruited for INTERNATIONAL OFFSHORE INVESTMENT BANK (IOIB) TURKEY (And not presently possessing a valid Residence, Work Permits, Visa) shall be expected to personally incur all expenses as shall be related to the processing, procurement and acquisition of their necessary permits clearance papers with the Turkish Tour & Travel Agencies and shall be duly reimbursed and will be substantiated with receipts and the employer will reimburse the employee not later than Five (5) working days after submission of employee’s expense report and receipts.
You shall be required to furnish us with your valid residence, work permits and visa on or before the 15TH of October as a proof of readiness to join the INTERNATIONAL OFFSHORE INVESTMENT BANK (IOIB) TURKEY project team in the due time as stipulated above for your job resumption with the INTERNATIONAL OFFSHORE INVESTMENT BANK (IOIB) TURKEY and also to enable you receive your first monthly salary including your due entitlements/emoluments prior to your departure for services with the INTERNATIONAL OFFSHORE INVESTMENT BANK (IOIB) TURKEY.
However, for expatriate services employees who do not presently posses their valid Residence/Work Permits papers and Visa, they are to make contact with the address given below for directives and assistance on the acquisition and procurement of their Turkish valid residence and work permits papers.
Turkish Tour & Travel Agencies
4G Didyma Shopping Centre Altinkum, Aydin 09270. Turkey
E-mail: [email protected]
TEL: 905338851725
Contact Person: CONTROLLER (Mr. BARAKI HERAT)
Désignations: VISA, WORK/RESIDENT DEPARTMENT
6. EMPLOYEE TO DEVOTE FULL TIME TO BANK: The Employee will devote full time, attention, and energies to the business of the Bank, and, during this employment, will not engage in any other business activity, regardless of whether such activity is pursued for profit, gain, or other pecuniary advantage. Employee is not prohibited from making personal investments in any other businesses provided those investments do not require active involvement in the operation of said companies.
7. CONFIDENTIALITY OF PROPRIETARY INFORMATION: Employee agrees, during or after the term of this employment, not to reveal confidential information, or trade secrets to any person, firm, corporation, or entity. Should Employee reveal or threaten to reveal this information, the Bank shall be entitled to an injunction restraining the Employee from disclosing same, or from rendering any services to any entity to whom said information has been or is threatened to be disclosed, the right to secure an injunction is not exclusive, and the Bank may pursue any other remedies it has against the Employee for a breach or threatened breach of this condition, including the recovery of damages from the Employee.
8. REIMBURSEMENT OF EXPENSES: The Employee will incur reasonable expenses to get his/her visa and work permit. The Bank shall reimburse Employee for all business expenses after the Employee presents an itemized account of expenditures, pursuant to Bank policy.
9. VACATION: The Employee shall be entitled to a yearly vacation of three month at full pay.
10. DISABILITY: In the event that the Employee cannot perform the duties because of illness or incapacity for a period of more than one month, the compensation during said illness or incapacity will be paid to the employee. The Employee's full compensation will be reinstated upon return to work. However, if the Employee is absent from work for any reason for a continuous period of over two months with any goods reason of been absent, the Bank may terminate the Employee's contract employment, and the Bank's obligations under this agreement will cease on that date.
11. EMPLOYMENT CLASSIFICATION: You shall be a contract Employee and shall be entitled to benefits as specifically outlined herein
12. BENEFITS: You will also receive standard employee benefits package (including health insurance for you and your family), and will be subject to (IOIB) vacation policy as such package and policy are in effect from time to time.
12.1 OTHER BENEFITS:
Quality single or family housing in Bank community.
Personal effects shipment and excess baggage allowances.
Access to some of the finest social and recreational facilities in Turkish.
Free medical care in Turkish for you and your family for contract duration.
Excellent educational assistance benefits with family status contracts.
Complete meals also for you and your family as deemed Appropriate.
Life insurance Policy.
Maximum and efficient security both in work place and housing Community.
12.2 COMPUTER RESOURCES: Laptop Computer, 1.6 GHz Processor, 496 MB RAM, 24XCD-RW, 30GB Hard Drive, Floppy Drive, Integrated Network Adapter, Internal 56K Modem, Spare Battery and Necessary Software. Full time Internet access is also made available.
12.3 PHONES: The employer will provide each employee with one (1) landline and one (1) mobile telephone. This shall have a reasonable credit limit application per month.
12.4 LOCAL TRANSPORTATION: Standby new Bank car will parked in your apartment for movement.
12.5 OFFICE SPACE: Adequate private office space in a conducive and comfortable work environment shall be provided for each employee.
13. TERMINATION OF AGREEMENT: Employee may terminate employment upon 30 days' written notice to the Bank. Employee may be required to perform his or her duties and will be paid the regular salary to date of termination but shall all his/her severance allowance.
14. DEATH BENEFIT: Should Employee die during the term of employment, the Bank shall pay to Employee's estate any compensation due through the end of the month in which death occurred.
15. SETTLEMENT BY ARBITRATION: Any claim or controversy that arises out of or relates to this agreement, or the breach of it, shall be settled by arbitration in accordance with the rules of the Turkish Arbitration Association. Judgment upon the award rendered may be entered in any court with jurisdiction.
16. LIMITED EFFECT OF WAIVER BY BANK: Should Bank waive breach of any provision of this agreement by the Employee, that waiver will not operate or be construed as a waiver of further breach by the Employee.
17. SEVERABILITY: If, for any reason, any provision of this agreement is held invalid, all other provisions of this agreement shall remain in effect. If this agreement is held invalid or cannot be enforced, then to the full extent permitted by law any prior agreement between the Bank (or any predecessor thereof) and the Employee shall be deemed reinstated as if this agreement had not been executed.
18. ASSUMPTION OF AGREEMENT BY BANK'S SUCCESSORS AND ASSIGNEES: The Bank's rights and obligations under this agreement will inure to the benefit and be binding upon the Bank's successors and assignees.
19. CONFIRMED EMPLOYEE: Confirmed employees are those employee’s that have obtained from the WORK/RESIDENT PERMIT PAPERS AND VISA from the approve traveler agency in charges for the processing of the traveling document.
20. ORAL MODIFICATIONS NOT BINDING. This instrument is the entire agreement of the Bank and the Employee. Oral changes have no effect. It may be altered only by a written agreement signed by the party against whom enforcement of any waiver, change, modification, extension, or discharge is sought.
Signed by the Employee:
………………………………………………… Date: .3. /…10…/…2009…….
(EMPLOYEE)
Signed for and on behalf of
INTERNATIONAL OFFSHORE INVESTMENT BANK
HUMAN RESOURCES DEPARTMENT:
IOI BANK
Mr. TARIN KOWT
In the presence of
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