EMPLOYEE ADVANCE AGREEMENT

This Employee Advance Agreement (“Agreement”) is entered into on this the ____ day
of ___________, 2020 (“Effective Date”)

BY AND BETWEEN

__________________________, a company incorporated under the Companies Act,

1956 having its registered office at ______________________________________
(hereinafter referred to as the “Company” which expression shall, unless excluded by or

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repugnant to the subject or context be deemed to include its successors and permitted
assigns) of One Part;

AND

_______________________, S/o _____________________ R/o

________________________________________ (hereinafter referred to as “Employee”
which expression shall, unless excluded by or repugnant to the subject or context be
deemed to include his/her heirs, legal representatives and executors) of the Other Part:

The Company and the Eligible Employee are collectively referred to as “Parties” and
individually as “Party”.

WHEREAS:

a. The Company is engaged in the business of

_______________________________.

b. The said Employee is in full-time employment with the Company since

______________ having employment No. __________.

c. The Employee has approached the Company for Advance Salary of

Rs._________/- (Rupees ________________ only).

d. The Company has considered the request of the Employee and has agreed to
provide Advance Salary of Rs. _____________/- (Rupees _______________
only) on the terms and conditions hereby agreed.

NOW THEREFORE THIS AGREEMENT WITNESSETH AND THE PARTIES

HEREIN AGREES AS FOLLOWS:

1. Advance amount and terms of Payment

1.1 The Employee has requested for Advance Salary of Rs. ___________/- (Rupees
_______________ only) (the “Advance amount”) from the Company and the
Company has agreed to provide the Advance amount to the Employee
(hereinafter the “Advance”).

1.2 The Company has credited the Advance amount to the salary account of the
Employee vide electronic transfer.

1.3 The Advance Amount will be repaid by the Employee in ____ equal monthly
instalment’s (“Instalment(s)), being effective from the payable salary of
_________________.

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1.4 The Instalments mentioned in clause 1.3 above shall be deducted from the due
and payable Employee’s salary every month by the Company prior to remittance
of the salary to the Eligible Employee’s bank account till the Advance Amount is
repaid in full. Except to the extent as set out in Clause 4, the Instalments will not
be set off or altered under any circumstances.

2. Administration of the Advance

2.1 The Employee shall provide an undated, blank cheque in the favour of the
Company for the repayment of the Advance Amount. The Company shall be
entitled to present the said Cheque for encashment anytime during the term of
this Agreement if the Company is of the opinion that the Employee is untraceable
or not able to repay the Advance for any reason whatsoever. The Employee shall
ensure that the said cheque is cleared at presentation and in case of any
dishonour, the Company shall be entitled to initiate civil as well as criminal
proceeding against the Employee under Negotiable Instrument Act, 1881 and
other relevant act. The said cheque shall be returned to the Employee upon
repayment of the Advance Amount.

2.3 At any time during the term of this Agreement, the Employee may foreclose the
Advance by repaying of the outstanding Advance Amount to the Company.

2.4 All stamp duty and other costs connected to this Agreement shall be borne by the
Employee.

3. Term

This Agreement shall be valid until the Eligible Employee repays the Advance
Amount in full.

4. Termination of Employment

4.1 In the event of termination of the Employee’s employment with the Company for
any reason whatsoever (irrespective of whether such termination is initiated by
the Company and/or the Employee) during the term of this Agreement, the
outstanding Advance Amount shall be payable by the Employee forthwith, prior
to the Employee being relieved from his employment with the Company.
However, the Company shall at its sole discretion be entitled to adjust the
outstanding Advance Amount, if any, against the due and payable amount to the
Employee by the Company.

4.2 The Company reserves the right to withhold the relieving certificate until the
outstanding Advance Amount is repaid to the Company.

5. Governing Law and Jurisdiction

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 This Agreement shall be governed by and construed in accordance with the laws
of India. The courts of Bangalore only would have exclusive jurisdiction to
resolve the disputes.

6. Entire Agreement

This Agreement constitutes the sole and entire agreement between the Parties
relating to the subject matter and supersedes all prior agreements or
understandings, expressed or implied, between the parties hereto.

7. Modification

The Company reserves unconditional right to amend, modify, abrogate or rescind

this Agreement or any part thereof at any time. The Employee will not object or
dispute any such amendment, modification, abrogation or rescinding this
Agreement or any part thereof by the Company.

8. Severability

If any provision of this Agreement is held to be ineffective, unenforceable or

illegal for any reason, such decision shall not affect the validity or enforceability
of any or all of the remaining portions thereof.

9. Waiver

Where by conduct, a Party waives the obligations of the other Party under this
Agreement in one instance, such conduct shall not be deemed to be a general
waiver and the Parties shall continue to be bound by their obligations as set out in
this Agreement.

10. Assignment

Neither this Agreement nor any interest therein nor a part thereof shall be
transferred or assigned by the Employee without the prior written consent of the
Company.

11. Notices

Written notices and other communications required or permitted to be given

under this Agreement may be delivered by hand or through courier services or
sent by registered mail, telex or fax transmission. Such notices shall be deemed to
have been given, upon the dispatch / mailing or transmission thereof to the Party
entitled thereto at its address set forth below, or such other address as it shall
hereafter designate for that purpose.

Company:

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 ____________________
____________________
____________________

Employee:
____________________
____________________
____________________

IN WITNESS WHEREOF the Parties to these presents have hereunto set and
subscribed their hands the day month and year first above written.

For and on behalf of:

_________________

Signature:

NAME:
DESIGNATION:

EMPLOYEE
(________________)