Employment Agreement

This Employment Agreement is executed on Sixteenth October, 2022 and will be effective
from Eighteenth October, 2022.
BETWEEN
Paint Product Inc. Company having its registered office at Detroit, Michigan, USA
(hereinafter referred to as the “Company”)
AND
Dr. Jaikal, son of Mr. Hyde residing at Trenton, New Jersey, USA (hereinafter referred to as
the “Employee”)
The Company and the Employee shall hereinafter be individually referred to as “Party” and
collectively referred to as “Parties”.
WHEREAS:
A. The Company is engaged in the business of manufacturing and supplying paints and
coatings to industrial, commercial and retail customers throughout USA and Europe.
B. The Company wishes to develop an Anti-rusting Paint for which they wish to hire a
scientist.
C. The Employee is a world-renowned scientist with multiple accolades in the field of
Chemical Engineering.
D. The Company recognises that the Employee has the requisite skill set to be employed
as a Paint Developer.
E. The Parties intend to record the terms of the engagement of the Company and the
Employee under this Agreement.
NOW, THEREFORE, in consideration of the agreements set forth in this Agreement, and
for other good and valuable consideration, the sufficiency of which is acknowledged by the
Parties, the Parties hereby agree as follows:
1. DEFINITIONS
In this Agreement the expressions mentioned below shall have the meaning as follows:
“Agreement” includes the recitals to this management agreement and any amendments
made to this management agreement by the Parties in writing;
“Allowances” includes monetary renumeration that a company provides to an Employee
for the specific purpose mentioned in this Agreement;
“Board” means the board of directors of the Company;
“Company” means the Paint Product Inc. Company;
“Confidential Information” shall have the meaning ascribed to it in the Confidentiality
and Intellectual Property Assignment Agreement;
 “Effective Date” shall mean Eighteenth October, 2022 being the date of appointment of
the Employee of the Company;
“Intellectual Property” shall have the meaning ascribed to it in the Confidentiality and
Intellectual Property Assignment Agreement;
“Termination” shall mean the ending of the contractual relationship during the term of
the contract.

2. EMPLOYMENT

2.1 All the information provided to the Company by the Employee shall be true to the
extent of his knowledge and there shall be no withholding of any information on his
part.
2.2 The Employee shall perform all duties and obligations assigned to him and abide by
the clauses of the agreement.
2.3 At the signing of the agreement, the Employee shall not be engaged with any third
party.

3. PLACE OF WORK
The company does not entail any specific place for the working of the employee, the
employee can operate from any part of the world for the purpose of research work.
4. DUTIES AND OBLIGATIONS OF EMPLOYEE
From the effective date, the Employee shall be bound by the duties and obligations set
forth;
4.1 The Employee shall not commit any act which can be detrimental to the company in
any way.
4.2 The Employee agrees to devote his full time and attention while performing the
requisite services and other additional duties required by the Company.

5. RENUMERATION AND BENEFITS

6. CONFIDENTIALITY
The employee shall not discuss any of the information of the research work with any person
outside the company and shall keep all the information related to the company confidential.
7. INDEMNITY CLAUSE
8. INTELLECTUAL PROPERTY RIGHTS
 8.1 All the rights pertaining to any intellectual property created during the course of
employment shall belong to the company, the employee shall not be entitled to claim any of
the rights during or after the termination of the employment.
8.2 For the contribution of the employee in the creation of the said intellectual property
the company will provide 0.75% of the profits made by the sale of the said intellectual
property for a period of only twenty years. Further provisions under this clause are contained
in the confidentiality and intellectual property assignment contract.

9. RESOLUTION OF DISPUTES AND JURISDICTION

10. APPLICABLE LAW AND JURISDICTION
11. TERMINATION OF EMPLOYMENT