Assignment 1 requires you to create a basic contract from information about a simple business transaction that will be provided to you. You will be expected to write a simple contract, of no more than two pages, that captures the commercial terms of the transaction as well as effectively manages the basic risk. Rubric is provided below.

You are an employee of DeVry Inc. which is a start-up that is focused on providing a one stop online financial investing platform for the 20-30 somethings age cohort. Part of DeVrys strategy is to thoroughly utilize/exploit customer data to both better market the business to future clients, increase efficiency in their operations, and create additional third-party marketing revenue streams. DeVry has grown to the point where it is now necessary to hire a Director of Data Management if the business wants to continue to maximize the benefits it draws from the client information that is available to it (while also being compliant with all applicable legal obligations). The Vice-President of Operations, Cedric Okumodu, went through the hiring process and has identified a potential candidate, Avrielle Tang. He advertised the position and interviewed various candidates, but also personally reached out to Avrielle, after acquiring her name through his own industry contacts. She currently resides and works in Edmonton so this is a big move for her, and Cedric aggressively recruited her once he identified her as the best candidate. Cedric has negotiated what he thinks are the key terms with Avrielle but has also made clear by email to Avrielle that signing an employment contract is a necessary last step to there being a legally enforceable employment relationship. That is where you come in. Being a smaller organization that has been very entrepreneurial and proactive, doing anything and everything itself (where possible) to try and save money, drafting an employment agreement is no exception. Cedrics aware you took a course in business law and he has asked you to draft up an appropriate agreement. Although you indicated to him you arent a lawyer he indicated that hed drafted other agreements/contracts used by the business and there is no reason for you not to be able to do so. He has told you to not worry about the draft contract being one sided in favour of DeVry- in fact- he wants that. DeVry has various employee related policies, including a discipline policy, all of which are intended to apply to Avrielles employment as well. Cedrics attitude is that it is up to Avrielle to raise any concerns she has when the draft is presented to her. He has also provided the following relevant details for the agreement to you. Position: Director of Data Management General Role Responsibility: Manage all aspects of data collected and/or generated by the DeVry including what information should be collect, how to collect it, and leveraging the collected information for business advantage, while meeting all legal requirements and any applicable corporate compliance policies. Annual Salary: $130,000 Cdn reviewed annually Bonus: Consideration for a bonus of up to 10% of annual salary each year that is entirely at discretion of employer to award (or not award). It is to be paid in the same calendar year it is awarded. Benefits: Entitled to be part of Devry benefits plan that is in force during the course of employment and the benefits plan is subject to revision at any time by Devry Location: DeVrys corporate offices at 204 University Avenue East, Waterloo, Ontario, during normal working hours (9-5) unless others agreed to by DeVry or required by law Report: Reports to Vice President of Operations Contract Term: Indefinite with a start date of December 1, 2020 You are expected to submit a draft to him by no later than 11:59 pm October 9th. You asked about any particular format and he has indicated that while he is not fussy about the format it should at least look like a contract that an employee might sign. He has also indicated it should be no more than three pages maximum and he should be able to read it without needing a magnifying glass (i.e., use a standard size font and text type- like the one he used here to give you the instructions)