Employment Agreement (BOND)

EMPLOYMENT AGREEMENT
THIS AGREEMENT is made on ______day of August, 2018, between LUX Industries Limited,
a company incorporated under the Companies Act, 1956 and having its registered office at 39,
Kali Krishna Tagore Street, Kolkata-700007 and its corporate office at PS Srijan Techpark, 10 th
Floor, DN 52, Sector V, Salt Lake, Kolkata - 700091 (the "Employer"); and Vinod Sahoo , a
permanent resident of Flat No – 416/4E, Matoshree Nagar, Near Wimco Naka, Ambernath (w),
Thane, Mumbai, Maharashtra – 421501 and presently residing at Kanai Villa, 1, Chandi Ghosh
Road, Near Nanu Babu Bazar, Tollygunj, Kolkata – 700040 (the “Employer”).
WHEREAS the Employer desires to obtain the benefit of the services of the Employee, and the
Employee desires to render such services on the terms and conditions set forth.
IN CONSIDERATION of the promises and other good and valuable consideration (the
sufficiency and receipt of which are hereby acknowledged) the parties agree as follows:
1. Employment
The Employee agrees that he will at all times faithfully, industriously, and to the best of his skill,
ability, experience and talents, perform all of the duties required of his position. In carrying out
these duties and responsibilities, the Employee shall comply with all Employer
policies,procedures, rules and regulations, both written and oral, as are announced by the
Employer from time to time. It is also understood and agreed to by the Employee that his
assignment, duties and responsibilities and reporting arrangements may be changed by the
Employer in its sole discretion without causing termination of this agreement.
2. Position Title
As a Deputy General Manager (DGM) - Sales, the Employee is required to perform the
following duties and undertake the responsibilities encircling the designated post in a
professional manner.
3. Probation:
The employee will be on probation for a period of 6 (Six) months from the date of joining,
where after, if the services are found satisfactory, the employee will be confirmed by means of a
written intimation from the Company. Company reserves the rights to reduce/ dispense with or
extend the probation period at its absolute discretion.
4. Tenure
The Employee under this agreement and after completion of his Probation period is bound to
serve the Company for at least 3 years from the date of his confirmation of job. After completion
of agreed three years of tenure, the agreement and the addressed employee’s employment may be
renewed or terminated as the situation demands providing one month written notice to the either
party. In case the employee desires to terminate this agreement before the stipulated period of
three years as mentioned above, then he or she have to pay to the company an amount equivalent
to the 6 month salary.
5. Termination:
a. During probation period the employee’s services can be terminated
by the Company by giving 15 days written notice to the employee or payment of salary in lieu
thereof. However, Company may relieve the employee at any time during the notice period with
or without any compensation other than the payment of salary of the remaining period of notice.
b. After confirmation, the Company can terminate the employee’s

services by giving 3 months (90 days) written notice to the employee or payment of salary in
lieu thereof. However, the Company may relieve the employee at any time during the notice
period with or without any compensation other than the payment of salary of the remaining
period of notice in case of any misconduct or breach of contract.
c. Company has the right to terminate the employee’s services

without notice or payment of salary in lieu thereof, if the employee commit any breach of duties
and responsibilities under this contract of service or are found guilty of any gross negligence or
misconduct which contravenes the express or implied conditions of the service.
d. In case of resignation / superannuation / cessation of services, the

employee need to get clearance certificate from the Company/ Concerned Department and
submit all the Company belongings to the office to get the full and final settlement and release
from the Company.
e. Any Company belongings given to the employee during the tenure

of his employment, to be returned to the Company at the time of separation, if it is found in
damaged condition, except the normal wear and tear of the goods received, an amount
proportionate to the loss to be recovered from the employee against the full and final settlement.
6. Non- Competition
It is acknowledged and agreed that following termination of the employee’s employment with
Lux Industries Limited for any reason the employee shall not divulge into any untoward activity
which shall affect the goodwill and reputation of the company and the Company reserves its
rights to take legal recourse against such action of the employee.
7. Entire Agreement
This agreement contains the entire agreement between the parties, superseding in all respects any
and all prior oral or written agreements or understandings pertaining to the employment of the
Employee by the Employer and shall be amended or modified only by written instrument signed
by both of the parties hereto.
8. Severability
The parties hereto agree that in the event any article or part thereof of this agreement is held to
beunenforceable or invalid then said article or part shall be struck and all remaining provision
shallremain in full force and effect.
9. Dispute
All dispute(s) shall be subject to the exclusive jurisdiction of the Kolkata court only.
IN WITNESS WHEREOF the Employer has caused this agreement to beexecuted by its duly
authorized officers and the Employee has set his hand after reading the same as of the date first
above written.
SIGNED, SEALED AND DELIVERED in the presence of:
________________________________________
[Name of employee]
_______________________________________
[Signature of Employee]
________________________________
[Name of Employer Rep]
________________________________________
[Signature of Employer Rep]

Employment Agreement (BOND)

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Employment Agreement (BOND)

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EMPLOYMENT AGREEMENT

b. After confirmation, the Company can terminate the employee’s

c. Company has the right to terminate the employee’s services

d. In case of resignation / superannuation / cessation of services, the

e. Any Company belongings given to the employee during the tenure

SIGNED, SEALED AND DELIVERED in the presence of:

[Signature of Employer Rep]

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