SCHOOL OF LAW, NARSEE MONJEE INSTITUTE OF

MANAGEMENT STUDIES, BENGALURU

CONTRACT DRAFTING

DRAFTING, PLEADING AND CONVEYANCING

Batch 2021-2026

SUBMITTED TO: SUBMITTED

BY:

Prof. Sahhana Reddy SAARANSH

CHANDEL

NMIMS (SOL), Bengaluru SAP ID-

81022100325
 B.B.A LL.B. 3rd Year

EMPLOYMENT AGREEMENT

This agreement lays down the terms of employment, agreed upon by the employer and
employee. Whether stated explicitly in the agreement or not, both the employee and the
employer have the duty of mutual confidence and trust, and to make only lawful and
reasonable demands on each other.

This EMPLOYMENT AGREEMENT (Hereinafter, the “Agreement”) is entered into on this

14th day of March, 2024,

BY AND BETWEEN

TechCo Pvt. Ltd., a private limited company incorporated under the Companies Act, 1956,
having its registered office at Apachito Building, JP Nagar, Bangalore, Karnataka 500987,
(hereinafter referred to as the “Company” or “Employer”, which expression shall, unless
repugnant to the meaning or context hereof, be deemed to include all permitted successors
and assigns),

AND

Mr. Peter Parker, son of Richard Parker, aged 32 years and residing at b-407 Notting Hills
Kalen, Bannergatta Road Bangalore, Karnataka (hereinafter referred to as the "Employee",
which expression shall, unless repugnant to the meaning or context hereof, be deemed to
include all permitted successors and assigns).

WHEREAS, the parties hereto desire to enter into this Agreement to define and set forth the
terms and conditions of the employment of the Employee by the Company;

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth
below, it is hereby covenanted and agreed by the Company and the Employee as follows:

1. Interpretation
 In this agreement, the following terms shall have the following meanings:
a) “Confidential Information”: Any trade secret or other information which is
confidential or commercially sensitive and which is not in the public domain
(other than through the wrongful disclosure by the Employee) and which belongs
to any Group Company (whether stored or recorded in documentary or electronic
form) and which (without limitation) relates to the business methods, management
systems, marketing plans, strategic plans, finances, new or maturing business
opportunities, marketing activities, processes, inventions, designs or similar of any
Group Company, or to which any Group Company owes a duty of confidentiality
to any third party.
b) “The Employment”: The employment of the Employee by the Company in
accordance with the terms of this agreement.
c) “Group Company”: The Company, any company of which it is a Subsidiary
(being a holding company of the Company) and any Subsidiaries of the Company
or any holding company, from time to time.
d) “Subsidiary”: A company as defined in section 1159 of the Companies Act 2006.
e) “Termination Date”: The date on which the Employment ceases.
2. Position and Responsibility
a) Upon execution of this Agreement, the employee would be posted as the
marketing team of the Company.
b) During the term period of this Agreement, the Company may change the
employee's above-mentioned post (Marketing team) or location based on the
Company's production, operation or working requirements or according to the
employee's working capacities and performance, including but not limited to
adjustments made to the employee's job description or workplace, promotion,
work transfer at the same level, and demotion, etc., or adjustments made to the
employee's responsibilities without any change to employee's post.
3. Term and Probation Period
a) It is understood and agreed that the first 30 days of employment shall constitute a
probationary period (“Probationary Period”) during which period the Employer
may, in its absolute discretion, terminate the Employee's employment, without
assigning any reasons and without notice or cause.
 b) After the end of the Probationary Period, the Employer may decide to confirm the
Employment of the Employee, in its sole discretion.
c) After the end of the Probationary Period, this Agreement may be terminated in
accordance with Clause 12 of this Agreement.
4. Performance of Duties
a) The Employee agrees that during the Employment Period, he/she shall devote
his/her full business time to the business affairs of the Company and shall
perform the duties assigned to him/her faithfully and efficiently, and shall
endeavour, to the best of his/her abilities to achieve the goals and adhere to the
parameters set by the Company.
5. Compensation
Subject to the stipulations outlined in this Agreement, the Employee will be
remunerated for their services during the Employment Period as follows:
a) The Employee will receive an annual salary of 65,000, payable in monthly or
more frequent instalments at the discretion of the Employer. This amount is
subject to adjustments determined by the Employer. Payments will be subject to
standard statutory deductions.
b) Throughout the term of this Agreement, the Employee's salary will be disbursed
via bank transfer, cheque, or any other method agreed upon by both the Employer
and the Employee.
c) Reasonable expenses incurred during employment will be reimbursed provided
they have been pre-approved and appropriate receipts are provided.
6. Intellectual Property Rights
a) TechCo has developed an Artificial Intelligence tool by their employees this
tool has patent and data related to it consider it to be trade secrets. The
employee can only use data for development of tool and any violation will lead
to legal action and under Indian Patent Act 1970.
7. Obligations of the Employee
a) The Employee shall refrain from engaging in theft, fraud, or any illegal acts,
whether within or outside the workplace, acknowledging that TechCo shall not be
liable for any such acts.
b) The Employee shall not steal or attempt to defraud TechCo.
 c) The Employee shall comply with TechCo's rules, regulations, and policies,
including but not limited to Leave and Sexual Harassment Policies.
d) The Employee shall not engage in any external employment or business ventures
during the term of employment with TechCo.
e) The Employee shall refrain from any form of sexual harassment during
employment, understanding that TechCo holds no responsibility for any unlawful
acts committed by the Employee.
8. Leave Policy
a) The Employee is entitled to 45 days of paid casual leave and 30 days of sick leave
annually, in addition to public holidays specified under TechCo's Leave Policy.
Unused leave shall neither be carried forward nor encashed.
9. Assignment
The Employee acknowledges that any intellectual property developed during the
Employment Period shall belong to TechCo and agrees to assign all rights to TechCo.
10.Competing Businesses
The Employee agrees not to engage in any activity involving same nature and related
to AI for one (1) year following termination without TechCo's written consent.
11.Confidentiality
a) The Employee shall maintain the confidentiality of TechCo's proprietary
information, refraining from disclosure or unauthorized use.
b) All intellectual property developed during the Employment Period shall belong to
TechCo, with no rights retained by the Employee post-termination.
12.Remedies
a) TechCo may terminate payment obligations under this Agreement in the event of
material breaches by the Employee. TechCo may seek injunctive relief or other
equitable remedies for breach without bond or security.
13.Amendment and Termination
a) TechCo shall provide advance notice or compensation in lieu of notice equal to 2
months upon termination without cause.
b) The Employee may resign by providing TechCo with at least 1 month advance
notice.
 c) "Cause" for termination includes gross misconduct, theft, fraud, or other breaches
of this Agreement.

1. Notices
Notices shall be deemed properly given if delivered personally or sent by registered
mail. Address changes must be communicated in writing.
2. Non-Assignment
Employee's interests under this Agreement are not subject to creditors' claims and
may not be assigned.
3. Successors
This Agreement shall bind successor employers, who shall continue its provisions.
4. Indemnification
The Employee shall indemnify TechCo for expenses incurred in connection with
his/her employment.
5. Modification
Modifications to this Agreement require written consent from both parties.
6. Severability
Nullification of any provision herein shall not affect the remaining provisions.
7. Paragraph headings
Paragraph titles are for convenience and do not modify the Agreement's
interpretation.
8. Applicable Law and Jurisdiction This Agreement shall be governed by Indian law.
Disputes shall be resolved in Karnataka.

IN WITNESS WHEREOF, the Employee has agreed hereto, and TechCo has
executed this Agreement on its behalf, as of the date first above written.
Mr. John Fernando Mr. Peter
Parker Chief Executive Office [TechCo]