Probation period clause samples

Pursuant to his employment agreement with Sichuan Senmiao, dated August 1, 2018, Mr. Liu will serve as the Chief Executive Officer of Sichuan Senmiao for one year and is subject to a one-month probation period. He is entitled to a monthly salary of RMB 45,000 (approximately US$6,586) except that he will receive RMB 36,000 (approximately US$5,269) for his probation period. The employment may be terminated (i) by mutual consent, (ii) immediately for cause by Sichuan Senmiao, (iii) for incapacity after non-work related illness or injury by Sichuan Senmiao with a 30-day prior written notice or a one-month salary as severance payment, (iii) by a 30-day prior written notice from Mr. Liu and a three day prior notice during the probation period; or (iv) immediately for cause by Mr. Liu. In connection with the employment agreement, Mr. Liu and Sichuan Senmiao entered into a confidentiality agreement, pursuant to which Mr. Liu agreed not to release or disclose Sichuan Senmiao’s confidential information.

XML 34 R16.htm IDEA: XBRL DOCUMENT /* Do Not Remove This Comment */ function toggleNextSibling (e) { if (e.nextSibling.style.display=='none') { e.nextSibling.style.display='block'; } else { e.nextSibling.style.display='none'; } } v3.10.0.1 SUBSEQUENT EVENTS 3 Months Ended Jun. 30, 2018 Subsequent Events [Abstract] Subsequent Events [Text Block] 11.SUBSEQUENT EVENTSOn July 31, 2018, Ms. Xin Chen tendered her resignation as Chief Executive Officer of the Company and General Manager of the Company’s VIE, Sichuan Senmiao, to the Board of Directors (the “Board”) of the Company, effective immediately. Ms. Chen’s resignation was for personal reasons and was not due to any disagreement with the Company.To fill the vacancies created by Ms. Chen’s resignation, the Board appointed Mr. Xi Wen to serve as the Company’s Chief Executive Officer in addition to his current roles as the President, Secretary and Chairman of the Board, and also appointed Mr. Haitao Liu to serve as the Chief Executive Officer of Sichuan Senmiao, in each case, effective August 1, 2018.Pursuant to his employment agreement with Sichuan Senmiao, dated August 1, 2018, Mr. Liu will serve as the Chief Executive Officer of Sichuan Senmiao for one year and is subject to a one-month probation period. He is entitled to a monthly salary of RMB 45,000 (approximately US$6,586) except that he will receive RMB 36,000 (approximately US$5,269) for his probation period. The employment may be terminated (i) by mutual consent, (ii) immediately for cause by Sichuan Senmiao, (iii) for incapacity after non-work related illness or injury by Sichuan Senmiao with a 30-day prior written notice or a one-month salary as severance payment, (iii) by a 30-day prior written notice from Mr. Liu and a three day prior notice during the probation period; or (iv) immediately for cause by Mr. Liu. In connection with the employment agreement, Mr. Liu and Sichuan Senmiao entered into a confidentiality agreement, pursuant to which Mr. Liu agreed not to release or disclose Sichuan Senmiao’s confidential information. X - ReferencesNo definition available.

2.3 The first three (3)months of the Employee’s employment shall be a probation period. The Company reserves the right to cancel, shorten or extend the probation period by written notice to the Employee, which notice must be given before the end of the probation period.

Starting from08.21.2018 to 02.20.2018 is the probation period. Party A may extend the probation period according to Party B's performance, but the maximum period shall not exceed three years. If Party A requests to extend the probation period, the term of this labor contract shall be extended according to the variation of the probation period, but the maximum term shall not exceed three years.The written notice required by Party A to extend the probation period and reconfirm the term of labor contract shall be sent to Party B three days before the expiration of the probation period.During the probation period, Party B shall not be entitled to enjoy the benefits of the company's regular employees (except social insurance and other benefits stipulated by the state).

3) No other exposure to the debtor is more than 30 days past-due at the end of the probation period. The amount of loans that have been removed from forborne status was EUR 2.8billion and EUR 3.5billion in 2016 and 2015 respectively. As the European legislation only came into force towards the end of 2014, the Company only reported the first removals from the forborne status in 2015.

Article2 (With) without a probation period. The probation period under this Contract shall beto. The probation period shall be included in the contract term.

Party A shall pay to Party B RMB _____ per month as salary during the Probation Period (the “Probation Salary”), after which the amount of monthly salary will be adjusted to RMB ___ subject to Party B’s performance and behavior during the Probation Period. Probation Salary and salary after the Probation Period (collectively, the “Salary”) will be paid for twelve (12) months per annum.

(b) Probation Period. The firstthree (3)consecutive monthsofthe Employee’s employment under this Agreement are agreed to constitute a period of probation during which the Company shall have the opportunity to assess the suitability of the Employee’s performance and conduct (the “Probation Period”). At any time during the Probation Period, the Company may terminate the Employee’s employment, on the grounds of unsuitability, without providing any working notice or payment in lieu thereof.

Article 5 Party A shall retain the premise of not violating labor laws and regulations according to the assessment results of Party B’s probation period. The appropriate extension shall be negotiated by both parties.