Indemnity Bond

INDEMNITY BOND
This Indemnity Bond is made and entered into this _____ day of ______ 2021
by, and
I. UNWIRED CONNECT PRIVATE LIMITED, having their principal

place of business at Gala 111, First Floor, Nirav 7 Industrial Premises
Sativali Rd, Sativali East Sativali Palghar Thane MH 401208 IN (herein
after referred to as “Company” which in this sense means their legal
representatives and Attorneys) OF THE ONE PART.
AND
II. Mr.__________ an Indian National and residing at

_____________________________________ hereinafter referred to as
“EMPLOYEE” OF THE SECOND PART (which term shall include his
legal heirs, executors, administrators and assigns), Owner and Proprietor
of SWIFT HOMES having their Principle place of business at ________
WITNESSETH
WHEREAS, The Company desires to employ the Employee, and the Employee
is willing to be employed by The Company, on the conditions herein set forth;
NOW, THEREFORE, in consideration of the covenants and agreements herein
set forth, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, it is hereby agreed as follows:
1. The Company hereby apppoints the Employee and the Employee hereby
accepts employment under the terms and circumstances of this agreement
and the requirements of the Appointment Letter, Business Conduct
Guidelines/Non-Disclosure Agreement approved by the Employee.
2. Employee commits to work for the Company for a period of ____ years
with the needed professional skills, technological capabilities, and
resources. This contract's duration will begin when the employee reports
to work for the first time, not when this agreement is signed.
Employee services can be terminated by one party providing the other
____months' advance notice in writing or paying a matching salary in lieu
of that notice.
There is an additional penalty of Rs._____/- (Rupees ______only) if the
employee wishes to leave without any advance notice before this term of
_____ years has expired, constituted as breach of Contract
3. Each party to this Agreement acknowledges, understands, and accepts
that the Company's duty to employ Employee is contingent upon
Employee's satisfactory fulfilment of the job tasks given by the Company
from time to time.
4. The Company will provide the employee with the necessary and relevant
specialised technical training, including training on automation tools, soft
skills, and other topics, as well as provide the employee with access to
specialised and sophisticated machinery/equipment, computers, software,
and other learning and working resources.
5. Employee is solely responsible to the Company for any costs and losses
incurred by the Company as a result of providing specialised training and
exposure to specialist technical skills relevant to the Company's project or
business.
 Employee abandoning the project assignment before it is
completed and without the prior express written approval of the
Company,
 Terminating his employment in any way whatsoever prior to the
stated expiry of its term without prior Notice,
 Employee intentionally failing to perform to the satisfaction of the
Company and/or the Company's Client in order to induce the
Company to terminate this Agreement before its expiry.
Such damages shall include, but not be limited to, loss of business and/or
loss of profits incurred by the Company, as a result of Employee’s
departure.
6. Employee hereby agrees and acknowledges that the Company incurs
considerable out-of-pocket expenditures in order to make employment
feasible for Employee ("Employment Costs"). As an example, but not
exclusively, expenditures incurred by the Company may include:
 Acquiring employment authorization on behalf of Employee;
 Transportation costs;
 Relocation costs;
 Administrative costs
 Imparting training,
 Usage of specialised and complex machinery/equipment,
computers, software and support facilities,
 Establishment and marketing expenditures for procuring work
orders,
 Paying payment to the employee, etc.
All such out-of-pocket expenses should be considered a debt owed by

Employee to the Company in order to earn commercial profits and
improve the company's image and goodwill.
7. WHEREAS, the Employee benefits out of the specialized training
facilities, skills, knowledge and expertise.
8. In the event of the Employee committing any breach of this contract, the
Employee hereby bind himself to pay and compensate the Company with
a sum of-
 Only Rs. ____/- (Rupees ____ Only) in Indian currency payable to
the Company within ____ days of receipt by the Company of
notice or letter of claim, together with interest of ___ percent per
annum on Rs. _____/- (Rupees _____ Only) from the breach date
to the realisation in the event of Employee committing a breach of
contract within _____ years from when they joined.
9. This Indemnity Bond (Bond) was executed, entered into, and given by
Employee to the Company to secure the amount due by Employee to the
Company as well as any additional future financial advances offered by
the Company that Employee accepts from time to time. It is only upon
payment of the obligation that the indebtedness stipulated in this
Agreement would be regarded paid or satisfied. The Company's
execution of the bond's rights and remedies shall not prevent the
Company from exercising any rights and remedies given to it under this
Agreement, either in law or equity.
10.Unless explicitly stated otherwise, nothing contained herein shall be
construed to limit the Company's rights or remedies under this
Agreement, and the Company expressly retains the right to seek all
available legal, civil, criminal, and/or equitable remedies against
Employee if Employee fail to comply with their obligations under this
Agreement as agreed.
11.Personal debt or other obligations accrued by Employee while working
for the Company are not the responsibility of the Company. There is a
clear understanding and acceptance by Employee that Employee shall
have no power to bind the Company's credit in any way without first
obtaining explicit permission from the Company in writing.
12.No matter how a part of this agreement is ruled illegal or unenforceable,
the remainder of this agreement will continue in full force and effect.
13.Employee shall indemnify, defend and keep the Company, its officers,
directors, Employee and agents harmless from any and all claims, causes
of action, damages, obligations or liabilities of any kind or character
arising out of or associated with any act or omission by Employee.
THE INDEMNITY BOND FURTHUR WITNESSETH AS FOLLOWS.
14.Governing Law and Venue: This agreement shall be read in line with the
Indian Court's laws. This Service Agreement cum Indemnity Bond shall
be governed by ________ Court both Civil and or Criminal Jurisdiction
and the parties hereto consent to submit to the personal jurisdiction of
such courts and waive all objections to such jurisdiction and venue.
15.If the Company decides to enforce any portion of this agreement through
civil and/or criminal legal actions, the Employee undertakes to reimburse
the Company for all costs and attorneys' fees properly paid by the
Company in connection therewith.
N WITNESS WHEREOF, the parties agreed and understood the contents and
legality of the Bond on the date first above written.
For _______________
_________________
Authorised Signatory.
EMPLOYEE /: have read, understood and agree to the terms set forth in this
Service Agreement cum Indemnity Bond as evidenced by our signature below.
Employee Name.
_____________
_____________
Employee Signature

Indemnity Bond

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INDEMNITY BOND

I. UNWIRED CONNECT PRIVATE LIMITED, having their principal

II. Mr.__________ an Indian National and residing at

All such out-of-pocket expenses should be considered a debt owed by

THE INDEMNITY BOND FURTHUR WITNESSETH AS FOLLOWS.

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