Bond Format (GTPL)

3
AGREEMENT THISAGREEMENT made in Gurgaon thisBETWEEN GlobalLogic Technologies Pvt Ltd a company incorporate under the Companies Act, 1956, having its registered office at Hyderabadand represented herein by its Authorised Signatory, Mr. Brahma Naidu Vella hereinafter called the “COMPANY’, which term shall, whenever the context so admits, mean and include its successors-in- interest, administrators, executors and assigns of the FIRST PARTYOU’RE YOUR your name____son/daughter, of ___your Father’s Name ___  , agedabout _your ’s a ge _ years and residi ng a t.___ ___Yo ur’s addr ess___ hereinafter called the “EMPLOYEE’, which term shall, wherever the context so admits, mean and include his legal heirs, administrators, executors and assigns of the SECOND PART and _Father’s name_____son/d aughter of Mr.grand father’s name___  , aged about _father’s age_yearsand residing at_father’ address hereinafter called the “SURETY” of the THIRD PART. WHEREAS the Company has introduced a scheme to provide suitable training and employment to candidates who are unskilled and have not undergone training in any field. The entire cost of this training will be borne by the Company.  And Whereas it is a condition of appointment that the Em ployee shall, immediately on joining the company, enter into an agreement, undert aking to be in continuous service in the company for a period of 12 Months, after the period of training as required, failing which, the employee shall be liable to pay the compan y a sum of Rs.60, 000/ - (Rupee s Sixt y Thousa nd only ) towa rds liq uidat ed damages, which is the amount spent by the company on your training.  And whereas, in the event of the employee faili ng to abide by the terms and conditions of this Agreement, then the surety herein undertakes to indemnify the company to the extent of the sum undertaken to be paid by the Employee in the extent of his committing any breach or violation of the terms and conditions of this Agreement, NOW IT IS MUTUALLY AGREED BY AND BETWEEN THE PARTIES HERETO, AS FOLLOWS: -

Transcript of Bond Format (GTPL)

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AGREEMENT

THISAGREEMENT made in Gurgaon thisBETWEEN GlobalLogic Technologies

Pvt Ltd a company incorporate under the Companies Act, 1956, having its

registered office at Hyderabadand represented herein by its Authorised

Signatory, Mr. Brahma Naidu Vella hereinafter called the “COMPANY’, whichterm shall, whenever the context so admits, mean and include its successors-in-

interest, administrators, executors and assigns of the FIRST PARTYOU’RE YOUR

__your name____son/daughter, of ___your Father’s Name ___ ,

agedabout__your’s age _years and residing at.______Your’s address___

hereinafter called the “EMPLOYEE’, which term shall, wherever the context so

admits, mean and include his legal heirs, administrators, executors and assigns

of the SECOND PART and _Father’s name_____son/daughter of Mr.grand

father’s name___ , aged about _father’s age_yearsand residing at_father’

address__hereinafter called the “SURETY” of the THIRD PART.

WHEREAS the Company has introduced a scheme to provide suitable training

and employment to candidates who are unskilled and have not undergone

training in any field. The entire cost of this training will be borne by the

Company.

  And Whereas it is a condition of appointment that the Employee shall,immediately on joining the company, enter into an agreement, undertaking to be

in continuous service in the company for a period of 12 Months, after the period

of training as required, failing which, the employee shall be liable to pay the

company a sum of Rs.60,000/- (Rupees Sixty Thousand only) towards liquidated

damages, which is the amount spent by the company on your training.

  And whereas, in the event of the employee failing to abide by the terms and

conditions of this Agreement, then the surety herein undertakes to indemnify the

company to the extent of the sum undertaken to be paid by the Employee in the

extent of his committing any breach or violation of the terms and conditions ofthis Agreement,

NOW IT IS MUTUALLY AGREED BY AND BETWEEN THE PARTIES

HERETO, AS FOLLOWS: -

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1. The Employee does not possess any skill and has not undergone any

training whatsoever in any trade and hereby agrees to undergo

training for a period of Three months from the date of joining, under

the Company’s Scheme,

2. On joining the company, the employee shall be given intensive trainingin any one discipline as required.The Employee acknowledges and

agrees that the cost of the training is Rs.60,000/-, which could be

recoverable by the Company only if the Employee works for the

Company for at least six (6) continuous months post the training

period during which period his/her services will be confirmed. The

Employee further acknowledges and agrees that in the event he/she

leaves any time during six months period, the Company will suffer a

loss of at least Rs.60,000/-, which the trainee shall be liable to pay

forthwith.

3. The entire cost of the training shall be borne by the Company, In

addition to such cost, the Employee shall also be paid a monthly salary

of Rs_________/-

4. The Employee shall not resort to any acts of indiscipline or misconduct

or irregular in attendance.

5. The trainee shall abide by the Standing Orders or general rules of the

company during the tenure.

6. In the event of the employee committing any breach or violating the

terms of this Agreement in not continuing in the employment of the

company for the period stipulated in this Agreement, then he/she shall,

on demand, pay the company a sum of Rs.60,000/- (Rupees Sixty

Thousand only) towards liquidated damages.

7. In the event of the Employee being unable to pay the said liquated

damages under any circumstances or, failing to pay such damages as

stipulated herein, the surety herein holds himself responsible and

liable and undertakes that on demand by the company, he/she shall,without any demur, pay the company the sum of Rs.60,000/- (Rupees

Sixty Thousand only) due to them by the Employee towards liquidated

damages.

8. All disputes and claims assigning out of the terms and conditions of

the Agreement shall be subject to the jurisdiction of Courts in the city

of Hyderabadonly.

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  IN WITNESS WHEREOF the parties hereto have set their respective hands

and seals the day, month and year, first above written.

Employee ForGlobalLogic Technologies Pvt Ltd

Authorised Signatory

WITNESSES:Surety:

1.

2.