Employment agreement, management or specialist employee

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT is made at [Place of signing the agreement] on this [Day of the month of the agreement] day of [Month of the agreement], [Year of the agreement].

Between

1. [Name of the Company], a company incorporated under the Companies Act [2013 / 1956], bearing Corporate Identity Number [CIN], having its registered office at [full address] and a place of business at [Company's place of business address], holding registration under the [State] Shops and Establishments Act bearing number [Shops and Establishments Act registration number], acting through [Company signatory's name], [Company signatory's designation], duly authorised in that behalf, hereinafter referred to as the “Company” (which expression shall, unless repugnant to the context, include its successors and permitted assigns), of the ONE PART;

And

2. [Mr / Ms Full name], son / daughter of [Employee's father's or mother's name], aged about [age] years, residing at [full residential address], holding Permanent Account Number [PAN] and Aadhaar bearing the last four digits [digits], hereinafter referred to as the “Employee” (which expression shall, unless repugnant to the context, include his or her legal heirs and representatives), of the OTHER PART.

The Company and the Employee are hereinafter referred to individually as a “Party” and collectively as the “Parties”.

Whereas

A. The Company carries on the business of [description of business].

B. The Company has offered employment to the Employee in the position described in Schedule 1, and the Employee has accepted that offer, relying on the representations made by him or her as to qualifications, experience, past employment and freedom from restraint.

C. The Employee will, in the course of the employment, have access to the Confidential Information of the Company and of its customers, and will participate in the creation of intellectual property belonging to the Company, and the Parties wish to record the terms on which such access is given.

D. The Parties wish to record the terms and conditions of the employment in writing.

Now this agreement witnesseth as follows

1. Definitions and interpretation. In this Agreement, unless the context otherwise requires:

1. “Board” means the board of directors of the Company;

2. “Confidential Information” has the meaning given in Schedule 3;

3. “Effective Date” means [Effective Date (date Employee starts duty)], being the date on which the Employee commenced or will commence duty;

4. “Group Company” means the Company, its holding company, its subsidiaries, the subsidiaries of its holding company and any entity under common control with the Company;

5. “Intellectual Property” means all patents, copyright and related rights, designs, trade marks, trade names, domain names, database rights, topography rights, know-how, trade secrets, and all applications for and rights to apply for any of them, anywhere in the world, whether registered or not;

6. “Policies” means the documents listed in Schedule 5 as amended, replaced or added to from time to time;

7. “Remuneration” means the amounts set out in Schedule 2;

8. “Wages” has the meaning given to it in the Code on Wages 2019 or, so long as that provision is not operative in relation to the Company, in the corresponding provision of the law for the time being in force;

9. references to a statute include any statutory modification or re-enactment of it and any rule, regulation, scheme, order or notification made under it; the singular includes the plural; and headings are for convenience only.

2. Appointment and term. The Company appoints the Employee, and the Employee accepts appointment, to the position described in Schedule 1 with effect from the Effective Date. [Option A — permanent: The employment is on a permanent basis and shall continue until terminated in accordance with clause 17.] [Option B — fixed term: The employment is for a fixed term of [Fixed term (months)] months from the Effective Date, expiring by efflux of time on [Fixed term expiry date] without the need for notice, and the Employee shall be entitled to all statutory benefits available to a fixed term employee, including gratuity on completion of the term where the law so provides, and shall not be entitled to any payment on expiry save as the law requires.] The Employee’s service for the purposes of statutory benefits shall be reckoned from [Date from which service is reckoned for statutory benefits].

3. Duties. The Employee shall (a) perform the duties described in Schedule 1 and such other duties consistent with the position as the Company may assign; (b) faithfully and diligently serve the Company and use his or her best endeavours to promote its interests; (c) comply with all lawful and reasonable directions of the Board and of the person to whom the Employee reports; (d) comply with all applicable laws and with the Policies; (e) not do anything which brings or is likely to bring the Company into disrepute; and (f) promptly disclose to the Company any act or omission by any person which is or may be a breach of law or of the Policies, and any matter which is or may be a conflict of interest. The Company may at any time change the Employee’s designation, duties, functions and reporting line consistent with the Employee’s grade and experience.

4. Exclusivity. During the employment the Employee shall devote his or her whole time, attention, skill and ability to the business of the Company, and shall not, without the prior written consent of the Company, whether directly or indirectly, alone or with another, and whether or not for remuneration: (a) take up any other employment, engagement, consultancy, retainership, freelance or part-time work; (b) carry on or be engaged, concerned or interested in any other business, trade or profession; (c) accept any office as a director, partner, designated partner or trustee, other than of a company or trust in which the Employee has no beneficial interest and which carries on no business competing with or supplying to the Company and which has been disclosed in writing; or (d) hold any financial interest in any customer, supplier, competitor or contractor of the Company, other than a holding of not more than [two] per cent in a listed company acquired for investment. The Employee shall disclose in Schedule 6 all engagements, directorships and interests subsisting at the Effective Date.

5. Place of work, transfer and travel. The Employee’s place of work is [Employee's place of work address]. The Company may require the Employee to work at, be transferred to, or be deputed or seconded to any other office, branch, unit, site or project of the Company or of any Group Company, at any location in India, on the terms applicable at the relevant time, and the Employee agrees to such transfer as a condition of the employment. The Employee shall travel on the business of the Company within and outside India as required, and shall be reimbursed in accordance with the travel policy. Where the Employee is required to relocate at the instance of the Company, relocation assistance will be provided in accordance with the relocation policy.