Subject Index A - HSBC careers site

Payment will be made into an account in your name with HSBC, in 12 equal monthly
instalments on or around the 20 th of each month. This means that you will be paid in
arrears for work done up to the 20 th of each month and in advance for working from
the 20 th to the end of the month. However, depending on the date in the month you
join the Company, the payment period and/or date of your first salary payment may
vary.
Salary and, where applicable, any allowances, accrue in respect of each hour or part
thereof, which you work.
Payment is subject in all cases to statutory deductions of income tax and employee
national insurance contributions and any other deductions which the Company may be
obliged to make. You will receive a monthly pay statement detailing gross pay and
deductions.
1.4.2 Bank Account
It is a requirement of your employment that you maintain an HSBC bank account
into which your salary will be paid. On joining the Company you will be required to
open an HSBC bank account and the payment of salary into non-HSBC bank
accounts, even on a temporary basis, is not permitted.
1.4.3 Salary Reviews
The Company reviews its current levels of pay each year.
Any changes to your basic salary will be notified to you by letter or in your monthly
pay statement.
1.4.4 Bonus Schemes
The Company currently operates performance related discretionary bonus schemes,
with the exception of those in selected sales roles. The discretionary bonus schemes
are designed to reward employees according to their efforts and the achievements of
the Company. The existence of and rules of the schemes are entirely discretionary and
operate in accordance with non-contractual rules, which may be in place from time to
time.
Separate bonus schemes apply to select sales roles. The existence of and rules of such
schemes are also entirely discretionary and operate in accordance with noncontractual
rules, which may be in place from time to time.
1.4.5 Allowances
You may be eligible for certain non-contractual allowances, as are applicable at the
time. Your offer letter or subsequent written communications from the Company will
specify the type and level of any allowance to which you may be entitled. Any
subsequent withdrawal or variation will be notified to you in writing or by circular.
1.4.6 Overtime and Additional Hours
Where you are required to work beyond your normal hours, payment may, in
exceptional circumstances, be made to clerical Band (7 & 8) employees, in respect of
any such hours, in accordance with the Company's rules on authorisation, eligibility
8