AGREEMENT FOR APPOINTMENT OF GENERAL MANAGER OF COMPANY

AGREEMENT FOR APPOINTMENT OF

GENERAL MANAGER OF COMPANY

AN AGREEMENT made on this ________________ day of ______________ BETWEEN ________________ a company registered under the Companies Act, 1956 and having its registered office at ________________ (Hereinafter called the "company") of the one part and Mr. ______________________ etc. (hereinafter called the "general manager") of the other part.

1.         The company is desirous of appointing _______  as its general manager; and

2.         The said ___________ has agreed to said appointment on the terms and conditions hereinafter appearing.

NOW THIS AGREEMENT WITNESSES as follows :

1.         The said person is hereby appointed as the general manager of the company and he will hold the said office, subject to the provisions made hereinafter, for a term of _________ years form the date of execution of this agreement.

2.         The general manager shall be paid a salary of Rs. __________ per month.

3.         The general manager shall perform such duties and exercise such powers as may from time to time be assigned to or vested in him by the Board of Directors of the company.

4.         The general manager shall, unless prevented by ill-health or any unavoidable cause, during the continuance of the term of his office devote his whole time, attention and abilities to the business of the company.

5.         The general manager shall obey the orders form time to time of the Board of Directors of the company and in all respects conform to and comply with the directions given and regulations made by the Board. He shall well and faithfully serve the company  to the best of his abilities and shall make his utmost endeavors to promote to the best of his best of his abilities and shall make his utmost endeavors to promote the interests of the company.

6.         The said ____________ shall be at liberty to resign his office of general manager at any time by giving to the company three months notice in writing of his intention to do so.

7.         The company may terminate this agreement at any time before the expiry of the stipulated term if the general manager commits any breach of the conditions aforesaid by giving one month's notice in writing to the general manager.

8.         If before the expiry of the stipulated term of this agreement, the company is wound up, or if any other means, except the death or resignation of the said _____________, the tenure of the said office shall be liquidated damages for loss of his office.

In Witness Whereof, the common seal of the company is affixed in the presence of Shri _________________________________ and the signatures of Mr. _________________ are affixed in the presence of Shri _____________________.

1.         Witness to the affixing of seal __________________________________

2.         Witness to the signature of Mr. _________________________________