Service Agreement for Employees Enhancing the Business Knowledge under the Policy of the Company. Guidelines for Filling Up the Agreement

Transcription

1 Service Agreement for Employees Enhancing the Business Knowledge under the Policy of the Company Guidelines for Filling Up the Agreement All entries to be made neatly and legibly. All addresses (Employee, Guarantor, Witnesses) have to be complete - i.e. full postal address along with pincode. Guarantor should be a relative of the employee (but not the spouse) and should have a separate income. Guarantor s photograph has to be pasted on the guarantor s agreement. The guarantor is required to sign across the photo. This photo and signature has to be attested by a notary along with his seal across the photo. Witnesses: Employee s agreement: The guarantor should be the witness. Guarantor s agreement: The person attesting guarantor s photo and signature should be the witness. The agreements that do not conform to the above will be deemed to be incomplete.

2 GUARANTEE This Agreement, (hereinafter referred to as Guarantee ) entered into this July 2006 between: - day of A. Covansys India Private Limited, a company duly registered under the provisions of the Companies Act, 1956, having its office at Unit 13, Block 2, SDF Building, MEPZ, Chennai (hereinafter referred to as, CVNS ) through its authorized representative and Manager - Human <Name of authorized Signatory> residing at <Address of signatory>. AND B. Mr. S/O Mr. R/O (hereinafter referred to as, Guarantor ) who is (relationship with employee) of the employee. C. WHEREAS, (hereinafter referred to as Employee ) has opted to undergo a <Course Name> for a period of <period in months/year> which would deem to have begun from <Course Start Date> and Employee out of his/her own free will and volition executes this agreement. Guarantor s Signature Notary Guarantor s Photograph Attested By D. WHEREAS, CVNS, agrees to pay for expenses incurred towards the course fee as per its Global Education Assistance Policy and EAP exceptions for India [Policy]. E. WHEREAS, Employee has agreed and undertaken to serve CVNS for a minimum period of 12 months, after the final result of the course has been declared and has entered into an agreement dated (referred to as the Agreement), which is a part and parcel of this Guarantee. F. WHEREAS Employee has agreed to pay CVNS, the total expenditure incurred on the course fee of the employee under its Policy and other incidental expenses incurred by CVNS in this regard along with 12% per annum on account of breach of Agreement. Now, therefore, in consideration of mutual promises and considerations between Employee and Guarantor, sufficiency of which is hereby acknowledged, the Guarantor agrees to do the following: 1. The guarantor undertakes that he/she is financially independent and capable to give this guarantee and pay the total expenditure incurred by CVNS in sponsoring the employee under its Policy.

3 2. The Guarantor binds himself /herself personally to pay CVNS any and all money due to it from Employee with regard to the total expenditure incurred by CVNS in sponsoring the employee under its Policy in the event of breach of the Agreement by the employee within 30 days of the said amount demanded by CVNS. 3. The parties hereto agree that the agreements and convenants contained herein are severable, and in the event any one of them is held to be invalid by a competent court, said invalid agreements and covenants shall not affect the enforceability or validity of the remainder of this Agreement. 4. The guarantor undertakes the responsibility to inform CSC India of any changes in his/her residential address. 5. In case of breach of agreement CVNS reserves the right to execute the agreement in whatever way it deems fit, directly or through its authorized representatives, to recover the liquidated damages. 6. The guarantor undertakes that in the event of death of the guarantor his/her legal heirs also inherit the legal and financial liability to pay CVNS liquidated damages in case of breach of agreement. 7. Any matter of disputes or differences arising out of or in connection with this Agreement or by virtue of these presents or in respect of a claim made by one party and denied or remaining unanswered / unattended by the other party, then the said dispute, difference or claim shall be referred to arbitration of a sole arbitrator to be appointed by CVNS and the guarantor shall not take any objection in regard to the appointment of the sole arbitrator. Non-payment of liquidated damages including failure to respond to the demand shall be deemed to be a dispute. Guarantor's signature:

4 It is agreed between the parties that any notice, claim or other communication required to be sent by CVNS shall be deemed to be received if it is sent by a registered post to the last known address of the guarantor along with the same being sent under certificate of posting. Unless otherwise intimated in writing the mailing address for service of notice on the guarantee shall be. The sole arbitrator award shall be final and binding on both the parties. The venue of arbitration shall be at Indore (Madhya Pradesh) and the language of proceeding shall be English. The cost of arbitration shall be borne and paid equally by CVNS and the employee. The courts at Indore alone shall have the exclusive jurisdiction to hear matters pertaining to the arbitration or any matter related to the dispute CVNS Authorized Signatory Guarantor's Signature <Name> <Designation> Mr. Witnesses Signature: Address: Signature: Full Address:

5 AGREEMENT This Agreement, entered into this day of 20 between: - A. Covansys India Private Limited, a company duly registered under the provisions of the Companies Act, 1956, having its office at Unit 13, Block 2, SDF Building, MEPZ, Chennai (hereinafter referred to as, CVNS ) through its authorized representative and Manager - Human Resources <Name of Authorized Signatory>, S/O <Father s Name> residing at <Address of authorized signatory>. AND Mr. S/O Mr. R/O (hereinafter referred to as, Employee) B.WHEREAS, (hereinafter referred to as Employee ) has opted to undergo a <Course Name> from <name of the institution> for a period of <Duration in Months/Years> which would deem to have begun from <Start Date> and Employee out of his/her own free will and volition executes this agreement. C. WHEREAS, CVNS agrees to pay for expenses incurred towards the course fee as per its Global Education Assistance Policy and EAP exceptions for India Policy [Policy]. Employee s Signature

6 NOW THEREFORE, in consideration of the mutual promises and convenants herein set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 1. The Employee, after declaration of the result of the course, has agreed to serve CVNS (at its offices located in India) for a period of 12 months. The agreement would be effective from the date of commencement of the course but the duration of 12 months would start from the date of declaration of final result of the course. In case the employee takes leave without pay for more than 15 days during the tenure of service agreement, the duration of the service agreement will get extended by an equal number of days taken as leave without pay. 2. Employee agrees to perform services and assignments for CVNS, diligently and efficiently until such time as those services and assignments are completed to the satisfaction of CVNS, or until otherwise determined by CVNS. In case CVNS takes action under the disciplinary procedure, which results in the dismissal of the employee, then the employee undertakes to pay CVNS the sum mentioned in clause C (3). 3. If the Employee breaches the terms and conditions of this Agreement as set forth above, Employee agrees and undertakes to pay to CVNS the total expenditure incurred on the course fee of the employee under its Policy and other incidental expenses incurred by CVNS in this regard along with 12% per annum to compensate CVNS for damages by reason of such breach. It is further clarified that the said amount is only damage and is not in the nature of penalty. 4. The parties hereto agree that the agreements and convenants contained herein are severable, and in the event any one of them is held to be invalid by a competent court, said invalid agreements and covenants shall not affect the enforceability or validity of the remainder of this Agreement. 5. The employee undertakes the responsibility to inform CVNS of any changes in his/her residential address. 6. Any matter of disputes or differences arising out of or in connection with this Agreement or by virtue of these presents or in respect of a claim made by one party and denied or remaining unanswered / unattended by the other party, then the said dispute, difference or claim shall be referred to arbitration of a sole arbitrator to be appointed by CVNS and the employee shall not take any objection in regard to the appointment of the sole arbitrator. Non-payment of liquidated damages including failure to respond to the demand shall be deemed to be a dispute. 7. That the employee agrees that for a business need/requirement or on client s request or for any other reason whatsoever, at the sole discretion of CVNS, his/her employment may be transferred to any of CVNS s sister/associate/ancillary or any other Company(ies) in the CSC Group (hereinafter referred to as Transferee Company). Thereafter the employee shall become an employee on the rolls of the Transferee Company to which he/she is transferred. The employment of the employee with the Transferee Company shall be on identical terms as the employment with CVNS (under the present agreement) unless

7 altered by the Transferee Company at its sole discretion. This agreement shall continue to bind the employee even after the transfer; and no fresh agreement would be required to be executed between the employee and the Transferee Company. Employee's Signature: It is agreed between the parties that any notice, claim or other communication required to be sent by CVNS shall be deemed to be received if it is sent by a registered post to the last known address of the employee along with the same being sent under certificate of posting. Unless otherwise intimated in writing the mailing address for service of notice on the employee shall be. The sole arbitrator award shall be final and binding on both the parties. The venue of arbitration shall be at Indore (Madhya Pradesh) and the language of proceeding shall be English. The cost of arbitration shall be borne and paid equally by CVNS and the employee. The courts at Indore alone shall have the exclusive jurisdiction to hear matters pertaining to the arbitration or any matter related to the dispute. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written CVNS Authorized Signatory Employee's Signature <Name> <Designation> Name : Mr. Witnesses Signature : Address : Signature: Full Address: