Employment Contract (Page 4 of 5) in pdf

4. Non-Competition Agreement.

(a) The Manager will not, during the period of his / her employment by or with the

Company, and for a period of six (6) months from the date of his / her resignation /

termination for any reason whatsoever, directly or on behalf of or in conjunction

with any other person, persons, company, partnership, corporation or business of

whatever nature:

(i) engage, as an officer, director, shareholder, owner, partner, joint venturer,

or in a managerial capacity, whether as an employee, independent contractor,

consultant or advisor, or as a sales representative, in any business selling any

products or services in direct competition with the Company or any of the

Company’s subsidiaries or divisions, within 100 miles of the Company’s principal

place of business or the principal place of business of any of the Company’s

subsidiaries or divisions.

(ii) call upon any person who is, at that time, within the Territory, an employee

of the Company (including its subsidiaries) in a managerial capacity for the purpose

or with the intent of enticing such employee away from or out of the employ of the

Company (including its subsidiaries), provided that, after Employee has ceased

employment hereunder, Employee shall be permitted to call upon and hire any

member of Employee’s immediate family;

(iii) call upon any person or entity which is, at that time, or which has been,

within one (1) year prior to that time, a customer of’ the Company (including its

subsidiaries) within the Territory for the purpose ‘of soliciting or selling products or

services in direct competition with the Company within the Territory;

(b) The Manager shall make good the losses if any incurred by the company by

breach of any condition in paragraph 4.

5. Termination of Contract / Resignation of Employee.

(a) The company has the right to terminate this contract by giving a notice of 1

month to the Manager or by paying the Manager an amount equal to 1 month

gross salary, in lieu of the notice period.

(b) If there are any breach of conditions in any part of this agreement, The

company can terminate the contract without giving any notice period or salary

in lieu of notice period, i.e., with immediate effect.

paying an amount equal to 1 month gross salary. The managers resignation is

deemed to be accepted only after the company provides the manager a

relieving letter. Till that time he has to provide the services as required by the

board of directors irrespective of the fact that he has paid / agreed to pay the

amount in lieu of notice period.

Employment Contract Page 4