Employment Contract (Page 2 of 5) in pdf

advantage if such activity interferes with Manager’s duties and responsibilities

hereunder. However, foregoing limitations shall not be construed as prohibiting

Manager from making personal investments in such form or manner as will neither

require Manager’s services in the operation or affairs of the companies or

enterprises in which such investments are made nor violate the terms of paragraph 4

hereof.

(d)

The managers appointment is liable for re-location / transfer to anywhere

in India under the same organization or its branches on account of business work

exigencies.

2. Compensation. For all services rendered by Manager, The company shall

compensate Manager as follows:

(a)

Basic Salary. Beginning on the date of the execution hereof, the base salary

payable to Manager shall be _________ per month, payable on a regular

basis in accordance with The company’s standard payroll procedures. On at

least an annual basis, Manager’s performance will be reviewed and increases

to such basic salary may be recommended if, in the discretion of the Board

of Directors of the The company, any such increase is warranted.

(b)

House Rent Allowance: The Manager shall be paid a House Rent allowance

at the rate of 40% of the basic salary.

(c)

Conveyance Allowance: The Manager shall be paid a Conveyance

Allowance of Rs. 800/- per month

(d)

Bonus: The Manager shall be paid bonus at the rate of ____

(e)

Commission: The Manager shall be paid commission at the rate of _% on

sales / purchases.

(f)

Perquisites, Benefits and Other Compensation. Manager shall be entitled to

receive additional benefits and compensation in such form and to such extent

as specified below:

(1) Participation in health, hospitalization, disability, dental and other

insurance Plans that the Company may have in effect.

(2) Reimbursement for all business travel and other out-of-pocket

expenses reasonably incurred by Manager in the performance of Manager’s

services pursuant to this Agreement. All reimbursable expenses shall be

appropriately documented in reasonable detail by Manager upon submission

of any request for reimbursement, and in a format and manner consistent

with the Company’s expense reporting policy.

(3) (2) weeks of paid vacation per year.

(g)

Taxes: The above amounts payable to the Manager are subject to the Tax

Deduction at Source (TDS) provisions under the Income tax act, 1981 as

applicable from time to time.

Employment Contract Page 2

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