Beruflich Dokumente
Kultur Dokumente
MEMORANDUM OF AGREEMENT made on this _____________ between M/s. XXXX incorporated under the
Indian Companies Act, 1956 and having its Registered Office at XXXXXXXX, hereinafter called the `COMPANY'
(which expression shall wherever the context so admits and requires mean and includes their Manufacturing
Units and Branches, successors-in-charge and assigns) otherwise known as Party of the FIRST PART and
Mr.XXXXX , aged about XX years Son of Mr.XXXX, residing at XXXXXXX. here in after referred to as Graduate
Engineer Trainee (which expression shall include his assigns, heirs and legal representatives) otherwise known
as Party of the SECOND PART and Sri _______________________________________________aged about
___________ years, son of Sri______________________________________________________________ working as
_________________________________________________________________________________ at
___________________________________________________________________________________residing at
_____________________________________________________________________________________________
_________________________________________________________________________ hereinafter called the
GUARANTOR otherwise known as Party of the THIRD PART.
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Whereas the company is carrying on the Business and Manufacture of Elevators. AND whereas the
Mr. XXXXX, has requested the company to be taken as a Graduate Engineer Trainee in the company
AND whereas the Company has agreed to do so on the terms and conditions that the Graduate
Engineer Trainee shall procure the guarantee of a person acceptable to the company for the due
performance by the Graduate Engineer Trainee of all his obligations under the agreement and for the
payment of any monies that may become due and payable by the Graduate Engineer Trainee to the
AND whereas, at the request of the said Mr. XXXXX, the Graduate Engineer Trainee above named
The Company agrees to take Mr. XXXXX, as a Graduate Engineer Trainee, on the following terms and
conditions.
1. The period of training shall be for One year commencing from the date of joining the company, unless
otherwise extended in writing by the company. The period of extension shall not exceed six months.
2. The Graduate Engineer Trainee shall be bound to serve and continue his training and attend to and do
such work as he may from time to time be directed by the company to do in the course of his training
3. During the period of training, your services are liable to be terminated at any time without any notice
4. (A) During the period of training, the Trainee shall be paid a monthly stipend of Rs.XXXX/- (Rupees
4. (B) The Graduate Engineer Trainee shall not be entitled for any other bonus or gratuity or to any other
4. (C) During the period of training, the company will use its best endeavors to provide full and adequate
training
4. (D) The Company will decide from time to time the departments and the subject in which the trainee
should be trained and the jobs on which he should work and the manner of such work may change
4. (E) During the period of training, the company will use its best endeavors to help, guide and counsel the
Graduate Engineer Trainee wherever felt necessary in order to enable him to obtain the full fruition of
5. The Graduate Engineer Trainee will, during the period of training be governed by the Company’s rules
and regulations to the extent that they are consistent with their presence. The Graduate Engineer Trainee
will be liable to disciplinary action for any misconduct committed by him in the course of his training
and employment for any act which is subversive of discipline, prejudicial to the interests of the company
6. The Graduate Engineer Trainee hereby agrees that he will not disclose or make public any professional
or trade secret or confidential information, which he may acquire or learn by reason of his training or
employment thereafter. He will disclose at the commencement of his training any interest that may have
or any relation or other person interested in him in any commercial or financial transaction of the
company
7. In the event of the Graduate Engineer Trainee committing a breach of the above contract in
relinquishing his training he shall be liable to refund to the company the stipend amount and other
8. At the end of his training period, if the Graduate Engineer Trainee is found suitable and if his
services are required, the Graduate Engineer Trainee will be absorbed in the appropriate Grade of
the company’s Management Cadre with the fringe benefits applicable to that Grade. The Party of
the SECOND PART is liable to be posted at our factory, branch office or any of its operating
territories in India or abroad, of the Company or any other company or office with which the
company has business interest. The party of the SECOND PART, after being posted to any of the
above mentioned places is also liable to be transferred at any time to any other of the above
mentioned places.
9. The Graduate Engineer Trainee party of the SECOND PART binds himself to undergo the training
and on appointment as above, serve the company honestly, diligently and conscientiously devoting
the whole of his working time and attention to the fulfillment of his duties as a Graduate Engineer
Trainee Management Staff and the discharge of such other work of whatever kind relating to the
business of the company which he may be assigned under such appointment. The party of the
SECOND PART bind himself to continue his training for a period as henceforth prescribed and
thereafter serve the company for Two years and he shall not, notwithstanding anything herein
contained, enter into any kind of employment under or with any person, firm or other company or
10. Except with the special written permission of the company, the party of the SECOND PART shall
not during his training and subsequent employment by the company engage or be interested
11. In the event of the party of the SECOND PART being unable to serve the company for the full Two
years commencing from the date of completion of training for any reason whatsoever, the party of
the SECOND PART hereby binds himself, his heirs, assigns and legal representatives to refund to
the company the one year stipend amount and other allowances paid to him as per clause 4 (a)
above plus Rs.XXXX/- (Rupees XXXXX Only) as damages reserving to the company the right to
12. Notwithstanding any provision herein to the contrary on any provision relating to the tenure of
service, the company reserves the right to summarily without notice and any compensation in lieu
thereof to terminate the service of the party of the SECOND PART for misconduct, incompetence,
13. The party of the SECOND PART will be subject to such disciplinary action and other regulations of
14. In consideration of the premises, in the event of the Graduate Engineer Trainee party of the
SECOND PART committing a breach of this contract, the guarantor above named hereby
guarantees the due repayment to the company by the Graduate Engineer Trainee party of the
SECOND PART of all amounts due as damages or otherwise and agrees that on demand by the
company, he, the guarantor, will pay the said sum or sums to the company within one week of the
date of demand and his obligation shall be joint and several with the obligation and liability of the
Graduate Engineer Trainee party of the SECOND PART and the obligation and liability of the
guarantor shall not be discharged by any time granted or indulgence allowed by the company to
the Graduate Engineer Trainee party of the SECOND PART or by reasons of any modifications of
the terms of training/party of the SECOND PART or by reason of the company compounding the
claim or giving up any position thereof or by reason of any act or omission or any fault or neglect
on the part of the company in enforcing its claim against the Graduate Engineer Trainee party of
the SECOND PART.
15. Any act required or desired to be done by the company, any power or discretion that may be
exercised by the company to the Graduate Engineer Trainee party of the SECOND PART in
accordance with or for the purpose this agreement may be given by the Managing Director
or by any other duly authorized Manager in authority over the Graduate Engineer Trainee
16. All disputes arising out of, under or in connection with this agreement between the party of
the first part and party of the second part and / or party of the third part, shall be referred to
the Arbitration of a Sole Arbitrator to be appointed by the party of the first part. The venue
of the Arbitrator shall be at Chennai and the provisions of the Arbitration and Conciliation
IT WITNESS WHEREOF the parties to this agreement have duly affixed their signature hereto