ARTICLES

OF AGREEMENT

THESE
ARTICLES
OF
AGREEMENT
are
made
and
executed
at
_________________________ on this the _____ day of _______, 200 by and between: 1.

M/s_____________, a Company, registered under the Companies Act 1956

having its Head Office at ________________ represented by its Director Sri
____________ aged about _____ years resident of __________________ hereinafter
called as the Company" -- which expression shall unless repugnant to the
subject or context shall mean and include its successors-in-interest,
administrators, assigns etc,
AND

2. _________________________ S/o _______________________, aged about _____ years

residing at _______________________________, hereinafter called as the Trainee"
-- which expression shall unless or repugnant to the subject or context shall
mean and include his/her heirs, executors, assigns and representatives etc.,
3. _______________________ S/o __________________________, aged about _____ years
occupation Service, residing at
____________________________-- hereinafter
called the "Surety"
-- which expression shall unless or repugnant to the
subject or context shall mean and include his/her heirs, executors, assigns and
representatives etc.,
WHEREAS the company herein is engaged, inter-alia, in the activity of collection
and dissemination of news all over the world through television network etc.;
AND WHEREAS the trainee having applied to the company for being imparted the
required on-the-job-training to become a qualified ______(Mentioned
Designation); AND WHEREAS the company had accepted the trainee to impart
such on-the-job training;
AND WHEREAS the trainee, in consideration of the on-the-job training being
sought to be imparted to him/her by the company, involving huge out-lays of
expenditure etc., had agreed to work as (Mentioned Designation)for the
company for a continuous period of three years, including the period of training,
on such terms and conditions the company prescribes;
AND WHEREAS the company herein had required the trainee to furnish such
surety as is acceptable to them, to guarantee the due performance of the terms
and conditions contained herein by the trainee; AND WHEREAS the second party
of the second part had agreed to be the surety for the due performance and
observance of the terms and conditions by the trainee as herein contained; NOW
THESE ARTICLES OF AGREEMENT ARE EXECUTED ON THE FOLLOWING: ....2...

:: 2 ::
TERMS AND CONDITIONS
1. The trainee agrees to under go the on-the-job training for a period of one
year from the date of his/her joining. The company is at liberty to extend
the said period of training by any further period, if the company deems
such extension necessary.
2. The trainee shall devote his/her whole attention to the on-the-job training
imparted by attending regularly.

The trainee shall use best of his/her

endeavors to imbibe all the necessary skills expected of an highly efficient

and competent (Mentioned Designation for eg accountant).
3. The trainee shall obey all the instructions issued from time to time and
shall abide by the rules and regulations of the company without any
deviation whatsoever.
4. The trainee shall be imparted on-the-job training by the company or by
any other company or entity to which the services of the trainee may be
assigned / lent. In such an event, the trainee has to under go on-the-job
training and follow the instructions issued by the new entity from time to
time without any deviation.
5. The company shall periodically assess the performance of the trainee. If
the company is not in any way satisfied with the performance and conduct
of the trainee, the company is entitled to terminate the on-the-job training
at any time without assigning any reason whatsoever.
6. The trainee agrees and undertakes to complete the period of training,
carrying out all the orders and the obligations under this agreement. The
trainee undertakes to work thereafter in the company conscientiously and
diligently for a continuous period of two years on such terms and
conditions as are decided by the company.
:: 3 ::

7. The trainee agrees to duly execute, acknowledge and deliver all

agreements and/or other documents at any time in future, as are
necessary or expedient in connection with the on-the-job training.
8. If the trainee commits breach of any of the terms and covenants of this
agreement or is found not undergoing the on-the-job training satisfactorily
or not attending the work regularly or is found guilty of any misconduct or
misbehavior or for any other reasonable cause, the company will be
entitled to terminate this agreement and call upon the trainee to pay the
compensation agreed herein.
9. If the trainee fails to perform any of his/her obligations under this
agreement, the trainee agrees that he shall compensate the company as
follows :i.

a sum of Rs.1,00,000/- (Rupees one lakh only) if the trainee fails to

perform his/her obligations/promises during the training period of one
year.

ii. a sum of Rs.75,000/- (Rupees seventy five thousand only) if the trainee
fails to perform his/her obligations/promises during the first year of
service after completion of Training.
iii. a sum of Rs.50,000/- (Rupees fifty thousand only) if the employee fails
to perform his/her obligations/promises during the second year of
service after completion of training.
Explanation : Failure to perform his/her obligations include termination,
dismissal or discharge for breach of any of the terms and conditions of
this agreement or for any other reason, or breach of any of the rules
and regulations of the company, absconding and resignation etc.,
10.The trainee shall not be deemed to be an employee and the relationship
between the company and the trainee shall be that of a teacher and a
student but not that of master and servant.
11.It is mutually agreed and declared by the parties to this agreement that
the compensation agreed to be paid as aforesaid, in the event of the
various contingencies outlined therein, is just, fair and reasonable, having
due regard to the on-the-job training imparted and the expenditure
involved for such training.
....4....
:: 4 ::

12.The trainee undertakes to perform and discharge his/her duties during the
training period and thereafter with due diligence and shall not act in any
manner so as to cause prejudice to the various varied interests of the
company.
13.The trainee shall not disclose any confidential information that comes his/her
notice either during the period of training or thereafter in whole or in part in
any manner to any person or persons for any purpose whatsoever. The
trainee agrees to use best of his/her efforts to maintain all confidential
information in the strictest confidence and to protect the confidentiality of all
confidential information.
14.In the event any loss or damage is caused to the company by any acts and
omissions of the trainee, the company shall be entitled to recover the
damage so caused together with interest at 18% p.a. and costs etc., in
addition to the compensation mentioned in clause No.9 above.
15.The surety undertakes to guarantee the due performance of the terms and
conditions contained herein by the trainee. In the event of non-observance of
any of the terms and conditions contained herein by the trainee, the surety
undertakes to make good the loss occasioned to the company by such acts
and also undertakes to pay the amount of compensation as stated in clause
No.9 above.

The guarantee furnished by the surety herein shall be

irrevocable and continuing and shall not be considered as wholly or partially

satisfied by the payment of any money by the trainee unless the entire
amounts due to the company are received.

Any indulgence, waiver, neglect

or forbearance of the company in enforcing the payment of any monies due

from the trainee shall not in any way release or discharge the surety of
his/her liability under this agreement. Likewise, the guarantee herein given by
the surety shall not be effected by any change in the constitution of the
company.

16.In the event of any dispute or difference arising under these presents, the
courts of mentioned court and the state , where the Head Office of the

Company is situated and from which this agreement emanates, shall alone
have jurisdiction exclusively to try the same.
....5...
:: 5 ::
17.All notices which a party is required or may desire to serve upon the other
under or in connection with this agreement may be served, by delivering
them personally, by fax, e-mail, courier or by registered post at the addresses
specified above.
IN WITHNESS WHEREOF the parties hereto have executed this agreement to
constitute a valid and binding agreement between them.

for M/s.

XYZ

WITNESSES:
1.
_______________________
THE COMPANY
2.
(_____________________)
TRAINEE

(________________)
SURETY