Professional Documents
Culture Documents
Employment Bond
Employment Bond
THIS AGREEMENT is made on the ___________________ between (Organization Name) xxxx, a LLP
registered under the Companies Act, 2013 and having its registered office at. No. -------------------------------
(hereinafter called the “LLP”) of the one part and ______________________________ residing at
_____________________________ (Hereinafter called the “Employee”) of the other part.
WHEREAS
The company is desirous of appointing ________________________________ as
________________________ and the Employee has agreed to on the terms and conditions outlined here
below.
1. The said Employee has been offered appointment as ____________________ at the ______________
office of the LLP and she / he will hold the said office, subject to the provisions made hereinafter and
of the offer of appointment dated _________________.
2. The employment of the employee will be governed by the terms of service included in the
aforementioned appointment letter. This letter forms an integral part of the appointment terms.
3. By way of signing this letter, the employee agrees and acknowledges that his / her employment with
LLP cannot be terminated by the employee by way of resignation for a period of 1 (one) year(s) from
the date of the appointment letter.
4. In a scenario where employee resigns from before the expiry of 1 (one) year period he / she would be
liable to pay 6 (six) months of gross salary to the LLP.
5. Furthermore, inconsequential of the reason of discontinuation of the services with LLP, an employee
would not engage in any employment, consulting or any other activity involving venture debt in
portfolio companies that competes with the business, proposed business or business interests of the
Employer, without the Employer’s prior written consent for a period of 1 (one) year post separation.
6. The company may terminate this agreement at any time before the expiry of the stipulated term by
giving one month´s notice in writing to him. The company can terminate your contract any time if you:
Signature
(Appointee´s Name)
For xxxxx
Authorized signatory