Employment Agreement 1

8/10/2019 Employment Agreement 1

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A G R E E M E N T

The Articles of Agreement made and executed this xx day of xxx xxxxxxxx

B E T W E E N

Name of Organizationa company registered under The Companies Act 1956 and having

its Registered Office at Postal Address, by its duly Authorised esignation of Personfor the time being Name of Personaged about xxxears, Occupation !ervice, a "indu

resident of !ocation, hereinafter called or referred to as the #"om#any$ %hich e&pression

shall mean and include Name of organizationas constituted today or as it may stand

constituted from time to time, during the currency of this agreement and'or the period ofits operation

AN

Mr$ Name of Em#loyee Address%( Aged xxx &ears' Male, Occupation (er)icehereinafter called and referred to as Mr$ Name of Em#loyeeor as #The Em#loyee*as

the conte&t may re)uire or permit

A*+ "-R- A! Mr$ Name of Em#loyee has been %or.ing as esignation ofem#loyee in the Company sincexx +e,ruary xxxx

A*+ "-R-A! the -mployer felt it necessary to enter into a service bond of T-o

&ears/appro& or till the successful completion of the 0robation period %hichever is later%ith effect from the xx xxxxx .//0%ith the -mployee in view of the cost incurred by

the Employer in respect of process of selection, training, induction etc.

A*+ "-R-A! the -mployee has also agreed and underta.en to enter into a service2bond for a period ofT-o &ears/Appro& %ith the Company from xxx xxxx .//0on the

terms and conditions as stated and e&pressed hereunder 3 2

*O T"-R-4OR- T"-!- 0R-!-*T! T*-!!-! A*+ T ! "-R-78T8A A:R--+ TO A*+ -T--* T"- 0ART-! "-R-TO A! 8*+-R

3 21( That the -mployee agrees to serve %ith and be employed in this Company, or

concern or associates to %hich the -mployee$s services may be transferred by

this Company for a period of T-o &ears /Appro& from /.1/.1.//0 to

/.1/.1.//2on the terms and sub;ect to the conditions hereinafter contained(


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Gi)e salary ,ra3e u#

The above amount includes the retention cost of employee and considering

retention cost the above salary is fixed jointly by both the parties( f theemployee completes training ' probation period successfully as decided by the

company, then he %ill be absorbed in a suitable grade as per Organisation=s rule(

>( f any time, during the Training ' 0robation 0eriod, the employee does not sho%

the e&pected performance or remains absent %ithout prior permission or

misbehaves, his service can be terminated by giving One +ay$s *otice or by

making payment of one day in lieu of notice

?( That the employee shall be entitled to all the benefits and'or amenities as may be

available to the -mployees of class employed in the Company from time to timeduring the period of his services %ith this Company or %ith the Company or firm

or concern or associates to %hich his services may be transferred from time to

time(

5( That during the period of his employment, the -mployee shall be bound to

observe and abide by all terms and conditions and stipulations hereinaftercontained as also by such other rules and regulations as may be framed by the

Company from time to time to be observed by or to be applicable to the

-mployees of his class(

6( That during the period of his employment the -mployee shall be punctual in

attendance and diligent in his %or. and the -mployee shall devote all his %or.ing

time and the best of his abilities, e&clusively for the benefit of the Company( The-mployee further agrees to obey all orders of and carry out all duties entrusted to

him from time by his !enior Officers(

@( That it shall be competent to the Company to transfer the services of the

-mployee to any other Company or 4irm or concern to %hich the 7anagement of

this Company deem it necessary or fit to transfer and in the event of such otherCompany or 4irm or Concern and shall be entitled to the continuity of the services

under these presents and shall be entitled to all the amenities or benefits %hich

may be in force in such Company, Company or concern to %hich his services may

be transferred( The Company hereby stipulates that in the event of the transfer ofthe -mployee to any other Company or 4irm or concern as aforesaid the

emoluments to %hich he is entitled by virtue of these presents shall not in any

%ay or manner be reduced or allo%ed to suffer( All clauses herein shall apply#7utatis 7utandis$ and shall continue to remain binding on the -mployee even in

the event of his transfer to other Company or 4irm or Concern, as if his present

agreement %as entered into such Company or 4irm or Concern(

( That the -mployee hereby agrees and underta.es to safeguard and hold in trust all

notes, noteboo.s, memorandums, papers, dra%ings, s.etches, diagrams, formulas,

designs, boo.s, letters, lists, C+s, +B+s, 4loppies including those of or


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pertaining to ra% materials, finished products, goods2in2process, names of

suppliers, names of purchasers, or dealers as also price lists of the Company$s

product or of things in %hich Company may be dealing in, or may becontemplating to deal in, and all other papers and documents of %hatsoever nature

and .ind that may have come in possession of the -mployee %hile in the

-mployment of the Company and not to handover the same to any unauthorisedperson or suffer or permit the same to be handed over to any unauthorised person

and the -mployee hereby underta.es to handover all such papers or things above

said to !enior Officers %henever called upon to do so and the -mployee furtheragrees not to ma.e copies of or to ta.e e&tracts from any papers, documents etc(,

belonging to Company for any purpose other than those of the employment in the

Company and further agrees not to carry any such paper, document or copies of

e&tracts outside the premises of the Company and the -mployee further agrees todeliver up all such papers, documents etc(, in his possession to his !enior Officers

%henever called upon to do so and it shall not be competent for the -mployee in

such an eventuality to %ithhold any papers or documents of %hatsoever nature on

the ground that they relate to his employment directly or indirectly(

9( That in the event of the -mployee ma.ing any discovery or invention relating tothe 7anufacture, developments or processing of any product that may have been

underta.en to be manufactured by the Company or to be e&perimented on, the

same be the property of the Company, and in the event of the Company decidingto apply for any patent or registered trade mar. in connection there%ith, the

-mployee shall ;oin the Company in all applications to the authorities concerned

for obtaining and getting vested such patent rights and'or trademar. rights in the

same to and in favour of the Company e&clusively(

1( That the -mployees hereby e&pressly agrees and underta.es that he shall not at

any time during the period of his employment and for a period ofT-o &earsafterthe termination of the -mployment, for any reason %hatsoever underta.e or carry

on either long or in partnership or in collaboration, nor to be employed directly or

indirectly in any capacity %hatsoever in the 8nion of ndia in any manufacture%hich is of the same .ind and nature as to business and manufacturing carries on

by this Company or any of its associate companies or firms or concerns to

%hich his services may be transferred, or in the manufacture of any

products, articles or things for %hich this Company or such Other Company or4irm or Concern to %hich his services may be transferred or in the manufacture

of any products, articles or things for %hich this Company or such other Company

or 4irm or Concern may have e&perimented in and' or have prepared designs forthe manufacture of such products or have made preparations for the 7anufacture

of such products irrespective of %hether such products actually been

manufactured or not and during the said period shall not lend his assistance forsuch manufacture etc(, in any form or manner %hatsoever %hether as Consultant

or Advisor or Actual manufacture or as employee or in any other capacity or

manner %hatsoever(

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11( That the -mployee has agreed and hereby agrees and underta.es that the

-mployee shall not at any time either during the course of his employment %ith

this Company, %ith any of its associate Companies or concerns to %hich hisservices may be transferred or AT A* T7- T"-R-A4T-R divulge, displace

or ma.e .no%n or suffer to be made .no%n directly or indirectly any of the

secrets pertaining to the designs, formulas, processes, specifications ormanufacturing details or material re)uirements, material used or any of

instruments, e)uipment, products or articles or things %hich this Company or any

of its associate companies of 4irms or concern may have underta.en toe&periment in or to manufacture fabricate, design or process and %hether the

same is actually manufactured, designed, processed, fabricated or e&perimented in

or not as also not divulge, disclose or communicate any information regarding the

formulas, specifications, technical or patent information or #Dno% "o%$ or theuse of any processes materials, instruments, tools or other re)uirements of the

manufacture of the various products and other things manufactured, fabricated or

processed by the Company or any of the other Companies or concerns to %hich

the services of the -mployee may be transferred 3 nor any of the secrets or.no%ledge or information regarding the plant facilities, machinery, e)uipment,

Organisation, production lines or production flo% as also the method andprocedure of production or of the dealings of the firm, or of the others above

referred to and the employee hereby agrees and underta.es to .eep all such

information strictly confidential %hich may have been communicated to him inhis capacity as #-mployee$ or during the course of his duties or the period of his

contract and irrespective %hether such information or .no%ledge came to be

ac)uired by him as secret or not and not to divulge and'or suffer the same to be

divulged, made .no%n to anyone e&cepting to a duly authorised officer of thisCompany(

1( That in the event of the -mployee leaving the services of the Company before the

-&piry of the period of the Contract, as also in the event of the -mployee ma.ing

it obligatory or necessary or e&pedient on the part of the Company to terminatehis services for any reason of whatsoever nature and for thingsmentioned in

paragraph /11 and ' or /1


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Companies or concerns as above said, by reason of his having committed breach

of any of the conditions herein before contained by reason of his having caused

any damages or in;ury to the Comping or concern to %hich his services mighthave been transferred, by his conduct or omissions %hile in employment, the

-mployee, further agrees that, the Company shall have lien on all amounts due to

the -mployees from the Company in respect of the damages aforesaid and theCompany shall be entitled to e&ercise the same and to set the said amountsoff

against such damages %ithout reference to the -mployee(

1?( That in the event of his leaving the services of the Company at any time during

the Currency of this Agreement he %ill have to give One month$s notice to the

Company or One Month*s 4Basic5 0resent salary in lieu of notice, to theCompany( This is in addition to damages provided under clause *o( 1> above(

* T*-!! %here of the Company has set the signature of its authorised Bice

0resident 2 Operations hereto in the presence of and the -mployee has get his signature inhis o%n hand hereunto on the .nday of +e,ruary .//0$

Signature of Designated person Signature of Employee

WITNESSES: WITNESSES:

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Employment Agreement 1

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Transcript of Employment Agreement 1