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between:
And
And
Companies Act, 1956 with its registered office at 158-162P & 165P-170P, EPIP
The Employee, the Indemnifier and the Company are also referred to as the “Party”
WHEREAS:
for the purpose of attaining its objects, the Company requires Employee to be
B. The Employee has been offered employment with the Company vide an
the Employee and the Employee agrees to be bound by the terms and conditions
will receive from the Company, the Employee agrees to serve in the employment
of the Company for a minimum period of Twenty Four (24) months (the
“Minimum Term”) from the date of the employee reporting for work with the
E. In the light of the loss that the Company will suffer if the Employee
does not serve the Minimum Term, the Company has requested the Employee
to secure third party who shall indemnify the Company against any loss
suffered by the Company, if the Employee (i) fails to complete the Minimum
Term; and/or (ii) fails to perform its obligations under the Offer Letter;
F. Accordingly, the Employee has proposed that the Indemnifier shall indemnify
the Company for all loss caused to the Company if the Employee (i) fails to
complete the Minimum Term; and/or (ii) fails to perform the obligations under the
G. The Indemnifier has been provided a copy of the Offer Letter and has read and
Indemnifier agrees to Indemnify the Company in accordance with the terms and
other good and valuable consideration, the receipt, adequacy and legal
follows:
the Company from time to time and perform his/her employment obligations
in accordance with the terms and Conditions appended to the Offer Letter.
2. The Parties agree that that the Indemnifier shall indemnify the Company for all
loss suffered by the Company, if the Employee (i) fails to complete the
Minimum Term; and/or (ii) fails to Perform his/her obligations under the Offer
Letter. The Parties agree that the Company would incur substantial expenditure
towards enhancing the skill sets of the Employee, including expenditure relating
to (i) the training; (ii) travel; (iii)accommodation; and (iv) other incidental
expenses. Accordingly, if the Employee (i) fails to complete the Minimum Term;
and /or (ii) fails to perform his/her obligations under the Offer Letter, the
Indemnifier shall pay the Company a sum limited to Rs. 2, 00,000/- (Rupees
Two Lakh Only) as liquidated damages suffered by the Company thereof. The
Parties agree that the quantum of liquidated damages has been reasonably
(a) That it shall, without demur, pay the Company a sum of Rs. 2, 00,000/-
(Rupees Two Lakh only) as liquidated damages, from the Company issuing a
written notice to the Indemnifier Stating that the Employee has (i) failed to
complete the Minimum Term; and/or (ii) failed to Perform his/her obligations under
(b) That in the event the Employee (i) fails to complete the Minimum Term; and/or
(ii) fails to Perform his/her obligations under the Offer Letter; the Company enjoys
the right to recover The sum of Rs.2, 00,000/- (Rupees Two Lakh only) payable as
simultaneously.
4. The Parties agree that this Deed shall be valid and in force during the
Minimum Term. The Parties further agree that this Deed shall continue to
the Company during the Minimum Term for the Reason mentioned in Clause 2(ii)
above, i.e.; fails to perform his/her obligations under the Offer Letter.
5. The Parties agree that (i) the failure to enforce any right against the
Employee by the Company Or (ii) any compromise made by the Company with
the Employee for any violation of the terms of any condition in the Offer Letter
shall not constitute a waiver of the rights that the Company Enjoys against the
The Parties agree that all notices under this Deed shall be sent by a Party to
courier transmission.
6. That the courts in Bangalore shall have exclusive jurisdiction to resolve any
disputes between the Parties that arise out of this Deed of Indemnity.
executed as of the date Written below by their own hand and seal or by their duly
authorized representatives.
Employee Witness:
Signature: Signature:
IN GRADE M1
DURGANAGARNCOLONY,
GREEMSPET,
CHITTOOR-517002
Indemnifier Witness:
Signature: Signature:
GANDHINAGAR,
MANDYA-571401.
iGATE Global Solutions Limited Witness:
Signature: Signature:
SHIVANANJAPPA LAYOUT
MANDYA-571401