Smith and Johnson Inc. This agreement is made as of the October 4, 2013, between Employer, Smith and Johnson Inc. and Employee, Ben Canestrari. Smith and Johnson Inc. is a corporation incorporated under the laws of the state of Rhode Island, and having its primary place of business at 1 Broadway St, Providence, Rhode Island.
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.
In consideration of the promises and other good and valuable consideration (the sufficiency and receipt of which are hereby acknowledged) the parties agree as follows:
Effective as of October 4, 2013, Smith and Johnson Inc. agrees to employ Ben Canestrari, and Mr. Canestrari accepts employment by Smith and Johnson Inc., for the period commencing on 10/25/13 and ending on the first anniversary of October 4, 2013 (the “Initial Term”), subject to earlier termination as hereinafter set forth in section 9.
Mr. Canestrari shall be employed in the position of Financial Analyst. In such capacity, Mr. Canestrari shall be subject to the authority of, and shall report to, Smith and Johnson’s Chief Executive Officer as well as his direct superior. Mr. Canestrari’s duties and responsibilities shall include those customarily attendant to his position and such other duties and responsibilities as may be assigned from time to time by the Chief Executive Officer.
Terms of Employment
1. Employment
Ben Canestrari agrees that he will at all times faithfully, industriously, and to the best of his skill, ability, experience and talents, perform all of the duties required of his 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.
2. Duration of Contract
Mr. Canestrari’s employment with Smith and Johnson Inc., follows the guidelines of this contract, commenced on October 4, 2013 and shall continue, subject to Employer’s terms and conditions of employment, until Mr. Canestrari’s employment is terminated on or before October 4, 2015.
3. Position Title and Duties
As a financial analyst, Mr. Canestrari, is required to perform the following duties and undertake the following responsibilities in a competent and professional manner.
a. Preparing financial reports, graphs and charts to help analysis and interpret corporate financials.
b. Presenting financial information in a timely manner to managers.
c. Specialized projects that upper management may need done.
d. Track financial status of company by monitoring variances from plan.
e. Other duties as may arise from time to time and as may be assigned to the Employee by the Employer.
4. Compensation
a. During the period of employment, Smith and Johnson Inc., shall pay Mr. Canestrari an annualized base salary of $52,000. Such payments shall be subject to such normal statutory deductions by Smith and Johnson Inc. i The base salary of $52,000 annually will be divided evenly and paid to Mr. Canestrari on a bi-weekly basis through Smith and Johnson Inc., payroll.
b. Bonuses will be allocated and calculated on a monthly bases and will reflect upon the performance of Mr. Canestrari.
c. The salary mentioned in paragraph 4. (a) shall be reviewed on an annual basis. i At this time Mr. Canestrari’s current base salary may increase based on his performance review but may not decrease. ii Any increase in base salary shall not serve to limit or reduce any other obligation to Mr. Canestrari under this agreement.
d. All reasonable authorized expenses arising out of employment shall be