employee training bond agreement template
Extract of this Employee bond agreement letter.
Name of Organization a company registered under The Companies Act 1956 and having its Registered Office at Postal Address, by its duly Authorised Designation of Person for the time being Name of Person aged about 45 Years, Occupation Service, a Hindu resident of Location, hereinafter called or referred to as the `Company' which expression shall mean and include Name of organization as constituted today or as it may stand constituted from time to time, during the currency of this agreement and/or the period of its operation
……… of the First Part
AND
Mr. Name of Employee Address:. Aged 22 Years, Male, Occupation Service hereinafter called and referred to as Mr. Name of Employee or as `The Employee' as the context may require or permit
……… of the Second Part
AND WHERE AS Mr. Name of Employee has been working as Designation of employee in the Company since 2nd February 2007
AND WHEREAS the Employer felt it necessary to enter into a service bond of Two Years (approx or till the successful completion of the Probation period whichever is later) with effect from the 2nd February 2007 with the Employee in view of the cost incurred by the Employer in respect of process of selection, training, induction etc.
AND WHEREAS the Employee has also agreed and undertaken to enter into a service-bond for a period of Two Years (Approx) with the Company from 2nd January 2007 on the terms and conditions as stated and expressed hereunder
