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Employment Policies and Practices

Table of contents

  1. Employment Offers
  2. Employment at Will
  3. Independent Contractors
  4. Equal Employment Opportunity and Affirmative Action Policy

Employment Offers

Offers of employment for all positions at the Company may be extended only by authorized managers and are contingent on a number of factors, including, but not limited to, the following:

  • Verification of identity, employment eligibility and criminal background (Parallel will not employ any individual unless they are legally approved to work in the United States, in compliance with immigration laws),
  • Checking of references, prior employment and educational qualifications listed on the employment application and
  • Signing of the relevant employment documentation, including this Handbook, an inventions assignment agreement and other definitive documentation.

Employment at Will

All employees of the Company, with the exception of those with written employment agreements that include provisions to the contrary, are employees at will and, as such, are free to resign at any time with or without reason. Parallel, likewise, retains the right to terminate an employee’s employment at any time with or without reason or notice.

Independent Contractors

Managers who would like to hire an individual or a company as an independent contractor must first consult with the People Ops Team (people@parallelmarkets.com) to ensure that the position is appropriate for independent contractor status. Since IRS rules and tax and benefit implications regarding independent contractors are complicated, this step is necessary to ensure an individual may be properly classified as an independent contractor (rather than an employee). Before an individual or business can perform services for Parallel as an independent contractor, such individual or an authorized representative of the business must sign Parallel’s independent contractor agreement.

Equal Employment Opportunity and Affirmative Action Policy

It is, has been, and will continue to be Parallel’s policy to provide equal employment opportunity without regard to race, color, age, religion, sex (including pregnancy, childbirth or related medical conditions), national origin, disability, veteran status, genetic information, sexual orientation, marital status, personal appearance, family responsibilities, matriculation, political affiliation or any other factor protected by applicable law. Further, it is Parallel’s policy to undertake affirmative action in compliance with all federal, state, and local requirements. Parallel wishes to take this opportunity to issue a formal reaffirmation of this policy and to assure each applicant, employee and party with whom we do business of our commitment to our equal opportunity and affirmative action objectives.

Our continued success depends heavily on the full and effective utilization of qualified persons. Parallel will continue to direct our employment practices toward ensuring equal opportunity for all. Parallel intends that all matters related to recruiting, hiring, training, compensation, benefits, promotions, transfers, terminations, layoffs and recalls, as well as all Parallel-sponsored social and recreational programs and all treatment on the job be free of unlawful discriminatory practices.