THIS AGREEMENT is made at Ludhiana on the ___day of ____________, 20___

BETWEEN
Iotasol Technologies Pvt. Ltd , having its registered office at 5A Doctor’s Lane Model town extension
Ludhiana-141002, hereinafter referred to as the “Employer” of the first part, which shall constitute all
its subsidiaries and affiliated entities.

AND

____________________________, son/daughterof__________________________an Indian

Inhabitant, presently residing at ___________________________________________________and
having his/her permanent addressat, ___________________________________________________,
hereinafter referred to as the “Employee”of the Second Part.

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AND WHEREAS the Employer has offered employment to the employee as per the Letter of
Appointment dated ______________________ subject, inter alia, to the Employee signing this
Agreement, necessitated by fact that the employee has to undergo detailed, specialty skills and
knowledge oriented and expensive training (hereinafter being referred to as “Training”) at the cost and
time of the Employer, to acquire necessary technical and professional skills required for discharging
his/her duties as an employee;

AND WHEREAS the Employee has accepted the said Letter of Appointment dated ________________
and the terms and conditions of the employment so incorporated in the said offer letter shall be treated
as part and parcel of this agreement;

AND WHEREAS the Employee acknowledges and agrees that the Training will entail significant
expenditure for the Employer including but not limited to computer time, instructor time, supervisory
time, software costs, education cost, the setting up and maintenance of special and general facilities for
Training as well as for on-the-job skill enhancements apart from his/her recruitment costs;

AND WHEREAS the employee is further aware that the employment and Training are beneficial to the
employee and that the provisions of the agreement are fairly and reasonably required for protection
and preservation of the interest of the employer and the company at large and are not penal in nature.

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:

1. In accordance with the BCA/MCA program finalized by the Employer, the Employee shall
proceed to undergo the curriculum guidelines and accept the Training as arranged by the
Employer

2. The Employee shall, while under Training as aforesaid, study with all due care, interest and
diligence to the best of his/her ability and shall abide by and conform to all the rules and
regulations and conditions of the Employer in regard to Training hours, holidays, discipline,
conductand other conditions of the service and /or training or any directions given to him/her
by any officer authorized by the Employer.

3. The Employee, during the period of his/her Training:

a] shall abide by the instructions of the officers and authorities under whom he/ she may from
time to time be placed and,
b] shallnot engage himself/herself in any work/assignment other than that arranged by the
Employer even while off duty, except with the prior written permission of the Employer

4. The employer reserves to itself the right to modify or vary, without notice, the content and/or
period of the Training, without assigning any reason whatsoever

5. The Employee agrees to serve the Employer for a minimum period of 4.5 (four years 5 months)
years inclusive of the training period from the date of joining, and exclusive of any leave
without pay. During the referred 4.5(4 years 5 months) years, employee cannot resign, abscond
or leave the services of the employer for what so ever reasons.

6. The Employer shall have a right to terminate the employment of the Employee at any time
whether during the period of Training or thereafter, if his/her services/progress during Training
are found unsatisfactory or if he/she is found guilty of any misconduct or if he/she is not around
to apply himself/herself fully to the training being imparted and assignments being entrusted or
if he/she has materially breached the terms of this Agreement or the Letter of Appointment

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 7. PENALTIES:-
In the event of breach of any of the condition(s) contained in this agreement or the
employment is terminated under section 6, the Employee agrees to pay the Employer the
following amounts as penalty:

a) The Employee agrees to pay the Employer all costs, charges and expenses incurred by
the Employer for the Training of the Employee initially valued at Rs.2,50,000.00 (Indian
Rupees Two LakhFifty Thousandsonly);

Tentative break-down of the cost incurred while Training is as follows:

1. Education Cost(6 Semester)– Rs. 90000

2. Training Content / Material – Rs. 35,000
3. Trainers’ Cost – Rs. 70,000
4. InfrastructureCost – Rs. 50,000
5. Recruitment Cost – Rs. 5,000

b) Liquidated Damages as arrived at by the Company, if any

7.1 The above penalties shall constitute a debt owing to the Employer and shall be recoverable
by the Employer from the Employee with interest thereon at 18% p.a. (from the date of
breach of any of the conditions till repayment) immediately upon the Employee
committing a breach of any of the conditions contained in the Agreement.

8. Without prejudice to the generality of the foregoing, following actions by Employee shall result
in material breach of this Agreement:
a) Abandonment by the Employee of his/her service /Training or the assignment given by
the Employer;
b) Neglect or failure to report to the Employer or designated location including but not
limited to customer location either in India or abroad as required by the employer/its
officers;
c) Failure or neglect to serve the Employer in India or abroad for the period stipulated in
para 5 hereof.

9. The Employee agrees and undertakes that he/she shall not engage in any employment or work
by himself/herself or with any other person, company, firm, undertaking or business or trade in
India or elsewhere, whether for consideration, reward or not during the said period of 2 (Two)
years and in the event if the Employee commits a breach of this condition then without
prejudice to any other remedies and powers contained in this Agreement, the Employer shall be
entitled to obtain prohibitory order or injunction prohibiting the Employee from engaging
himself/herself or serving with any other person, company, establishment, firm, organization or
institution and/or from working by himself/herself or with any person, company, establishment
or institution and/or from doing any act or thing which would be in breach of and/or in violation
of these presents.

10. GUARANTEE:-

10.1] The Employee shall prior to joining the employment with the Employer obtain and
furnish tothe Employer an unconditional and irrevocable guarantee from such person

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 (hereinafter being referred to as “Guarantor”), agreeing to and provide an undertaking that in
event of the Employee becoming liable to pay to the Employer the amounts under this
Agreement, the Guarantor shall forth with upon demand by the Employer pay to the
Employer the sum so demanded.

10.2] The obligations of the Guarantor shall be absolutely unconditionaland irrevocable and
be in force unless the Employee has duly complied with all the terms and conditions
herein above contained or in the event of breach of any or all of them, the Employee
has duly paid to the Employer theamounts of penalties, charges etc. under this
Agreement

10.3] The Employer reserves the right to treat the failure to furnish the guarantee by the
Employee as a breach of trust and this Agreement and shall be subject to penal actions
under this Agreement.

11. RENEWAL OF GUARANTEE:-

In the event of the Employer being of the opinion that the Guarantor is not or has ceased to be
legally or otherwise competent to furnish such guarantee for any reason whatsoever
including insolvency, mental incapacity, the Employer shall be entitled to require the
Employee to procure the guarantee from such other person as may be acceptable to the
Employer and the failure on the part of the Employee to obtain and furnish to the Employer
such other guarantee within a period of one week, shall be deemed to be a contravention of the
terms and conditions of these presents.

12. Governing Law. This Agreement, and all matters arising out of or relating to this Agreement,
shall be governed by the laws of India; jurisdiction shall be Ludhiana, Punjab.

13. The parties shall resolve any difference or dispute arises out of this Agreement by way of
negotiations. If such negotiation process fails, then all disputes, differences, controversies and
questions directly or indirectly arising at any time under, out of, in connection with or in
relation to this Agreement will be referred to a Sole Arbitrator. The arbitration proceedings
shall be governed by the provisions of [International Chamber of Commerce/Arbitration and
Conciliation Act, 1996] (“Rules”). The language of arbitration shall be English. The arbitration
award shall be final.

14. All communications between the Employer and Employee shall be deemed to have been
effectively served if addressed to the following addresses:-

Employer: - Iotasol Technologies Pvt. Ltd.,

5a Doctor’s Lane Model town extension Ludhiana -141002.

Employee: - ______________________________________

Address for Communication - _________________________________________________

______________________________________________________________________

15. Any change in the above addresses of any of the concerned parties i.e., Employer and Employee
shall be intimated to the other party by way of a notice by the party whose address has been
changed within a period of seven days from such change. If no such change has been intimated

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 or received, the addresses mentioned above shall be deemed to be the addresses of the
concerned parties and delivery of such notice at the above addresses will constitute
sufficient notice to the parties for all the proceedings to be initiated.

16. Severability. In the event any provision of this Agreement is held to be invalid or
unenforceable, the remaining provisions of this Agreement shall remain in force.

17. Waiver. The waiver by either party of any default or breach of this Agreement shall not
constitute a waiver of any other or subsequent default or breach. No single or partial exercise
of any right or remedy provided under this agreement or by law shall preclude or restrict the
further exercise of that or any other right or remedy.

IN WITNESS WHEREOF the parties hereto have set their hands and seal the day and date
mentioned above.

For IOTASOL TECHNOLOGIES PRIVATE LIMITED

_______________________________________
Group Head

________________________________________
(Employee Name: )

Date:
Place:

WITNESSES:

1. 2.

Name: Name:

Address: Address:

Date: Date:

Place: Place:

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 Annexure 1
GUARANTOR’S UNDERTAKING

To
The Group Head
Iotasol Technologies Pvt. Ltd. (“Employer”)
5a Doctor’s Lane Model town Extension
Ludhiana-141002 , India

I, __________________________________(Name of Guarantor), herebyundertake that I stand as

Guarantor for__________________________________________ (name of employee) S/o, D/o of
____________________________, resident of ___________________________ under the terms of the
Service Agreement dated _____________(date of Agreement) (hereinafter being referred to as
“Agreement”) entered between Iotasol Technologies Pvt. Ltd hereinafter referred as “Iotasol” and
_______________________________(Name of Employee); and
I being familiar with and literate in English, have personally read and understood the contents of
aforesaid Agreement and on understanding the same chosen to affix my signature as Guarantor; and

I hereby guarantee that:-

1. I have in consideration of the appointment of ___________________________(Name of Employee)
as above stated have agreed to stand guarantee for due fulfillment and observance of the terms
and conditions specified in the Service Agreement dated ___ day of _______, 20____; and
2. I hereby guarantee due compliance of the terms of the Agreement by
______________________________ (Name of Employee); and
3. In event of _________________________________ (Name of Employee) becoming liable to pay to
the InfoCeptsthe amounts under this Agreement, I shall forthwith upon demand by Iotasol, pay to
Iotasol the sum demanded. Further, it is clearly understood that it shall not be necessary for Iotasol
to proceed against the Employee to recover any amount that may become due by the employee to
the Employer under this agreement. Even without proceeding against the employee, the employer
can directly proceed against me at its own discretion.
4. If ______________________________________ (Name of Employee)fails to observe or perform
any of his/her obligations or is relieved from the services due to willful non-performance or
disciplinary issues under the Agreement then I shall indemnify Iotasol and its assigns or
representatives against all losses, damages, costs, expenses or otherwise which may be incurred by
him/her.

Signature& Date
Name of Guarantor:

Address:

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 Annexure 2
LIST OF DOCUMENTS TO BE ENCLOSED

Following self-certified documents need to be provided:-

Sr No Documents Whether
Provided
(Yes/No)
1 Copy of Aadhar Card / Passport issued by the Government of India of
Employee.
2 Copy of Guarantor’s Aadhar Card / Passport issued by the Government of
India of Employee.
3 Certificate of Employment of Guarantor issued in the past 30days or any
other Employment Proof (PF Statement, etc.).
4 Recent Financial Year Statement of IT Filing / Salary Certificate from current
Employer to depict proof of salary of the Guarantor

5 Copy of Aadhar Card / Passport issued by the Government of India of

Witness - 1.

6 Copy of Aadhar Card / Passport issued by the Government of India of

Witness - 2.

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