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September 13, 2010

 

Dear _______:

 

On behalf of JPMorgan Chase, I am pleased to offer you a position as an Operations & Business Services Program Direct Line of Business Placement Analyst in the 2011 Operations & Business Services Analyst Development Program - New York Metro.  Your position will begin with us in July 2011.  Your actual start date will be communicated to you once it is finalized.

 

Compensation:

The main elements of your compensation package are:

. A base annualized salary of $______. (less appropriate payroll deductions), which is paid consistently with JPMorgan Chase policies. 

. A ______one-time special payment that you will receive prior to your start date.  This one-time special payment is subject to appropriate taxes, which will be deducted from subsequent payments after your employment begins. Should your employment terminate within 12 months of your start date or you withdraw your acceptance of employment prior to your starting employment with JPMorgan Chase, you agree to immediately repay JPMorgan Chase the full amount of the one-time special payment.

Overtime:

If you work more than 40 hours in a workweek, you will be eligible for overtime pay as long as you remain in an overtime-eligible position.

 

• Your anticipated Regular Rate of Pay:_____ per hour.

• Your anticipated Overtime Rate of Pay: _____per hour. Your overtime rate may vary based on incentives that may be included in base rate calculations.

• Your regularly scheduled Pay Dates are the 15th and the last business day of each month.

 

Benefits:

. You will be eligible to participate in the Firm's benefits program, as amended from time to time, including medical, dental, disability, life insurance and other employee welfare benefit plans, the 401(k) Savings Plan and Retirement Plan.  You will receive a Benefits Enrollment Kit, which will provide you information on your eligibility for benefits.

 

Our offer of employment is subject to the satisfactory completion of all pre-employment processing, including various background checks, fingerprint processing and drug screening, as well as execution of any other forms necessary for employment. This offer is contingent upon your ability to establish identity and valid employment eligibility by completing the I-9 form on the Onboarding site.  Additionally, JP Morgan Chase participates in the E-Verify Program, which allows employers to electronically compare information taken from the Form I-9 against the records in the Social Security Administration and the Department of Homeland Security's databases.   As such, your employment eligibility must be verified by the E-verify program to remain working at JPMC.    You will later receive an email regarding accessing the Onboarding site.  Be prepared to present your identity and employment eligibility documents prior to your first day, so that any issues can be resolved before your new opportunity begins.

 

Your employment is at-will which means that either you or the firm may terminate your employment at any time, for any or no reason.  Your employment is subject to JPMorgan Chase policies and procedures, as amended from time to time, including without limitation, the JPMorgan Chase Human Resources policies and the Code of Conduct, which are available for your review.  It is your responsibility to read and understand these policies and, if you have any questions now or in the future it is your responsibility to make the appropriate inquiries.

 

Your first 90 days on the job will be an introductory period, which is a period to evaluate how you are adjusting to your new job and organization.  This is a period for you and your manager to ensure that you understand your role and responsibilities and all applicable performance standard and policies.  You remain an employee at-will at all times, irrespective of the 90-day introductory period.

 

Your employment is subject to your presentation of appropriate evidence of your eligibility to be employed by the Firm.  If the Firm must file papers with the Department of Homeland Security in order for you to be in an employment-authorized status or if you are unsure of your eligibility to be employed by the Firm, please contact our U.S. Immigration Services at 312-732-7014 at the earliest possible time to discuss your eligibility and specific immigration needs. This offer of employment is contingent upon the Firm's ability to successfully obtain an employment-authorized status for you in a timely manner, as determined by the Firm.

 

While the goal of the program is to prepare and support you in your career at JPMorgan Chase, if for any reason you are not in a part- or full-time equivalent and/or non-rotating position within JPMorgan Chase at the end of the Program, your employment will automatically terminate and you will not be entitled to severance or related benefits under our severance program.

 

Please take a moment to carefully review the information above to ensure that this offer reflects our previous discussions.  This letter contains the entire understanding of the parties with respect to the terms and conditions of this offer of employment and supersedes any prior verbal or written communication.  This offer may only be modified in a document signed by the parties referring specifically to this offer.

To confirm acceptance of this offer, please return a signed copy of this letter no later than October 1, 2010, to the attention of ______________________________________________________

 

Further instructions regarding the completion of your new hire forms, start date, fingerprinting and drug testing will be sent to you in a separate correspondence.

 

 

 

Acceptance and Code Affirmation

 

Upon signing this letter I accept the terms described above. I also affirm that I have read and understand the JPMorgan Chase Code of Conduct, and agree as a condition of employment to comply with the Code as amended and revised from time to time.

 

. I understand that I can access the Code via the Internet at >About Us>Governance>Code of Conduct prior to joining the firm, and through the firm's intranet once I begin employment.  

. I am aware of the specific policies related to personal investments for certain businesses and support units, and I understand that, if these are applicable to me, I will have thirty days after my start date to ensure my compliance with the designated broker requirements.   

. I acknowledge that the Code requires that certain outside activities be approved in writing after I begin employment, and I agree that, if any such required approval is denied, I will cease the relevant activity immediately. 

. I understand that all employees have post-employment responsibilities regarding confidential information.  I understand further that if I am, or become, a Senior-Level Employee, and that Senior-Level Employees have certain additional responsibilities that continue after their employment with the firm terminates, including restrictions on solicitation and hiring of the firm's employees and solicitation of certain customers.  I understand that I am responsible for knowing which post-employment responsibilities apply to me and I agree to comply with all applicable requirements.

 

* The term "Senior-Level Employee" is currently defined as any employee whose (a) annual base salary is US $150,000 (or the local currency equivalent) or higher, OR (b) annual total cash compensation is US $250,000 (or the local currency equivalent) or higher.

 

 

If you have any questions regarding any aspect of this offer, please do not hesitate to contact or call me at ___________ or with questions regarding pre-employment, please contact ______________

 

With the formalities covered, let me once again congratulate you and we look forward to having you join us!

 

Sincerely,

 

 

Please indicate your acceptance by signing this letter and returning BOTH pages to the address mentioned above.

Please be certain to keep a copy for yourself.

 

Agreed and Accepted by:

 

Signed: ______________________________________________  

 

Dated:  ______________________________________________

 

Birth date: ____________________________________________

 

Social Security Number: _________________________________

 

Binding Arbitration Affirmation

 

Accepted: _____________________________Date:_________________

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