Dear Seniors, I got job in MNC company, the company has given me the employee agreement, i have to get clarify the terms and conditions, please refer to the below points and suggest.
please seniors....
TERMS OF TERMINATION OF EMPLOYMENT
Notwithstanding any other provision hereof, the Company shall have the right and option to terminate with immediate effect without notice or on payment of I (One) months' basic salary in lieu of notice if it has reasonable grounds to believe that you are guilty of misconduct or negligence, or hove committed any breach of this Contract of Employment. Termination of the Contract of Employment under this
Sub-paragraph would be without prejudice to:
(i) The Company’s right to claim actual damages it has suffered on account of breach of this Contract of Employment;
(ii) Any other relief to which the Company may be entitled under the Contract, law or equity.
a) For the purposes of Clouse 8.3 above, 'Misconduct' will include (without limitation) conviction for any crime involving moral turpitude or affecting the Company or its affiliates; (ii) any refusal to carry out any reasonable directive of the Company of the Company which involve the business of the Company or its affiliates and was capable of being lawfully performed; (iii) Embezzlement of funds of the Company or its affiliates; (iv) ownership direct or indirect, of on interest in any person or entity (other thon o minority Interest in o publicly traded company) in competition with the products or services of the Company or its affiliates; (v) any breach of your fiduciary duties or duties of care to the Company (except for conduct taken in good faith); {vi)any substantial breach of this contract of Employment by you and (vii) any conduct (other than conduct in good faith) materially detrimental to the Company or its affiliates etc.
b) immediately upon termination of your employment hereunder, you shall return to the company all property of the company heretofore provided to you by the Company, or otherwise in the custody, possession or control of you
c) Notwithstanding any provision of this contract of Employment to the Contrary, no termination of this contract of Employment or of your Employment for any reason whatsoever shall in any manner operate to Terminate, limit or otherwise affect the company’s ownership of any of the rights, properties, privileges granted to the company hereunder.
d) on termination of this Contract of Employment for any reason whatsoever, you shall fully co-operate and provide all assistance as may be necessary or reasonably required by the company, for handing over to you successor the job responsibilities and functions, in a manner that would ensure Continuity in the administration of the Company’s affairs.
8.4. You shall be responsible and indemnify the company for all the damages, losses, or injuries caused to the Company if there is any passing off /infringement of the intellectual property rights of any product / property of the company or the Company, or its legal representatives, successors, assigns, or administrators, The Company shall initiate any civil or criminal proceedings against such a conduct.
8.5. You shall hold our Company harmless and indemnified against all legal claims, damages and liabilities arising from any action taken against you by any of your previous employer or employers for any misconduct, breach of agreement, omission or act of commission, performed by you during your Employment period with that previous employer(s).
9. NON-COMPETITION CLAUSE
9.1. During the Employment period and for o period of 24 (Twenty Four) months after the end of Employment period, the employee agrees that he/ she will in no way or circumstances, whether directly or indirectly, solicit the customers/business of the Company and/or operate within the Employer's general trading area and/or work with any competitive business operator.
9.2 During the Employment period and for o period of 24 (Twenty Four) months after the end of Employment period, the employee agrees that he/ she will in no way or circumstances, whether directly or indirectly, induce or attempt to induce or cause others to induce or attempt to induce any Employee of the Employer to leave the Company
9.3. During the Employment period, the employee agrees that he/she in no way or circumstances, whether directly or indirectly, induce or attempt to induce or cause others to induce or attempt to induce, seek to divert customers or obtain any benefit from any of its customers.
The Company may initiate any action and/or other proceedings whatsoever, civil, or criminal against the employee including recovery of damages caused to Company for o breach or threatened breach of the conditions mentioned in the above Clauses.
From India, Bangalore
3please seniors....
TERMS OF TERMINATION OF EMPLOYMENT
Notwithstanding any other provision hereof, the Company shall have the right and option to terminate with immediate effect without notice or on payment of I (One) months' basic salary in lieu of notice if it has reasonable grounds to believe that you are guilty of misconduct or negligence, or hove committed any breach of this Contract of Employment. Termination of the Contract of Employment under this
Sub-paragraph would be without prejudice to:
(i) The Company’s right to claim actual damages it has suffered on account of breach of this Contract of Employment;
(ii) Any other relief to which the Company may be entitled under the Contract, law or equity.
a) For the purposes of Clouse 8.3 above, 'Misconduct' will include (without limitation) conviction for any crime involving moral turpitude or affecting the Company or its affiliates; (ii) any refusal to carry out any reasonable directive of the Company of the Company which involve the business of the Company or its affiliates and was capable of being lawfully performed; (iii) Embezzlement of funds of the Company or its affiliates; (iv) ownership direct or indirect, of on interest in any person or entity (other thon o minority Interest in o publicly traded company) in competition with the products or services of the Company or its affiliates; (v) any breach of your fiduciary duties or duties of care to the Company (except for conduct taken in good faith); {vi)any substantial breach of this contract of Employment by you and (vii) any conduct (other than conduct in good faith) materially detrimental to the Company or its affiliates etc.
b) immediately upon termination of your employment hereunder, you shall return to the company all property of the company heretofore provided to you by the Company, or otherwise in the custody, possession or control of you
c) Notwithstanding any provision of this contract of Employment to the Contrary, no termination of this contract of Employment or of your Employment for any reason whatsoever shall in any manner operate to Terminate, limit or otherwise affect the company’s ownership of any of the rights, properties, privileges granted to the company hereunder.
d) on termination of this Contract of Employment for any reason whatsoever, you shall fully co-operate and provide all assistance as may be necessary or reasonably required by the company, for handing over to you successor the job responsibilities and functions, in a manner that would ensure Continuity in the administration of the Company’s affairs.
8.4. You shall be responsible and indemnify the company for all the damages, losses, or injuries caused to the Company if there is any passing off /infringement of the intellectual property rights of any product / property of the company or the Company, or its legal representatives, successors, assigns, or administrators, The Company shall initiate any civil or criminal proceedings against such a conduct.
8.5. You shall hold our Company harmless and indemnified against all legal claims, damages and liabilities arising from any action taken against you by any of your previous employer or employers for any misconduct, breach of agreement, omission or act of commission, performed by you during your Employment period with that previous employer(s).
9. NON-COMPETITION CLAUSE
9.1. During the Employment period and for o period of 24 (Twenty Four) months after the end of Employment period, the employee agrees that he/ she will in no way or circumstances, whether directly or indirectly, solicit the customers/business of the Company and/or operate within the Employer's general trading area and/or work with any competitive business operator.
9.2 During the Employment period and for o period of 24 (Twenty Four) months after the end of Employment period, the employee agrees that he/ she will in no way or circumstances, whether directly or indirectly, induce or attempt to induce or cause others to induce or attempt to induce any Employee of the Employer to leave the Company
9.3. During the Employment period, the employee agrees that he/she in no way or circumstances, whether directly or indirectly, induce or attempt to induce or cause others to induce or attempt to induce, seek to divert customers or obtain any benefit from any of its customers.
The Company may initiate any action and/or other proceedings whatsoever, civil, or criminal against the employee including recovery of damages caused to Company for o breach or threatened breach of the conditions mentioned in the above Clauses.
From India, Bangalore
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