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Template - Bond of Employment

1) The document is an employment agreement between Reotrix Technologies and Mudassira Tehneet B. Lahori, who has been selected for the position of Software Developer. 2) As part of the agreement, Mudassira will undergo 4 months of training and will not be paid a salary during this period. In return, she agrees to remain employed with the company for a minimum of 2 years. 3) If Mudassira leaves the company before 2 years, she must pay the company Rs. 100,000 as compensation for the training costs. The agreement also contains non-compete and confidentiality clauses.

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Shahid Tamboli
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1K views2 pages

Template - Bond of Employment

1) The document is an employment agreement between Reotrix Technologies and Mudassira Tehneet B. Lahori, who has been selected for the position of Software Developer. 2) As part of the agreement, Mudassira will undergo 4 months of training and will not be paid a salary during this period. In return, she agrees to remain employed with the company for a minimum of 2 years. 3) If Mudassira leaves the company before 2 years, she must pay the company Rs. 100,000 as compensation for the training costs. The agreement also contains non-compete and confidentiality clauses.

Uploaded by

Shahid Tamboli
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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1

Agreement forming part of our Employment offer

This Agreement is entered into this the Date 30th October, 2018 between i) Reotrix
Technologies, a Company registered in India, having its registered office at
PUNE.(hereinafter called the ‘Company’) and (ii) Miss. Mudassira Tahneet B.
Lahori an Indian inhabitant residing at Flat No 302, I Building, Unity Park Co-Op
Housing Society, Kondhwa, Pune: 411048 and having permanent address at Flat
No 302, I Building, Unity Park Co-Op Housing Society, Kondhwa, Pune: 411048
(herein after referred to as “Employee”) of the other part:

WHEREAS

A The Company has selected the Employee for the position of Software
Developer, which would initially involve extensive training for imparting the
required level of skills, for effectively carrying out the official responsibilities
assigned to the Employee.

B The Employee, on joining the Company, undertook to stay in employment of


the Company for a minimum period of 2 years & 2 months notice period to the
Company in case he/she wants to leave the company, in consideration of
which, the Company is not charging the cost of training from him/her.

C The Employee undertakes to undergo the training for the period of 4 months
and methodologies, as may be required, and understand the job
responsibilities, so that the same are carried out in an effective manner.

D During the training period the Employee will not be entitled to any salary or
compensation from the Company.

D the Employee, as part of the consideration for the training efforts and costs
involved, agreed to sign a bond for not leaving the services of the Company
for a minimum period of 2 year from the date of his/her completion of training
or date of appointment to the services of the Company.

NOW THIS AGREEMENT WITNESSETH AS BELOW:

1. The Employee acknowledges that substantial costs have been invested on


him for training him specifically for effectively handling the job
responsibilities and, any discontinuance of the employment before the
expiry of the six month term would unfairly prejudice the Company, and, as
such, the Employee undertakes not to leave the services of the Company,
for any reason what ever, for a minimum period of 2 years from the date of
his/her completion of training or date of appointment to services of the
Company.

2. In case the Employee, for any reason, leaves the services of the Company
before the said period of 2 years, then he/she shall forthwith pay a sum of
Rs.1,00,000 /- (One Lac only) being the indemnification of the cost of
training to the Company. The Employee undertakes not to dispute the
amount, and shall pay the amount, before requesting for formal relieving
2

order from the Company & at the same time company has full right to
initiate appropriate leagal proceeding against the Employee.

3. That the said employee shall not during the period of this agreement and 3
years after the agreement period work directly or indirectly in any similar
trade or business either as employer or partner or advisor or in any other
capacity.

4. That the said employee shall be just and faithful to the Company in all
matters and shall not at any time except under legal process, divulge to any
person whosoever and shall use his best endeavors to prevent the
publication or disclosure of any trade secret or any business process or any
confidential matter or information concerning management decision of the
Company or of its dealings, transactions, or affairs which may come to his
knowledge.

5. Any dispute or difference arising out of this Agreement shall be resolved


through Arbitration. The sole Arbitrator, appointed in consultation with
parties shall conduct such Arbitration. The venue shall be in PUNE.

6. However, Company has full right to transfer, suspend or terminate the


employement of the Employee in case if he/she breaches any of the above
provisions & founds dishonest to the Company at any moment of his/her
employment also Company can with held the Salary or/and Exp.letter of the
said Employee untill the final clearence of the matter.

7. In witness hereof the parties have executed this Agreement on the day and
date mentioned above at PUNE.
Parties

i) The Company,
Reotrix Technologies
Reg. Office: 657, Shukrawar Peth, Shivaji Road, Pune: 411002

ii) Employee
Mudassira Tehneet B. Lahori

Witness: 1) Sahil Tamboli

2)

Date: / /2018

Place :

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