AGREEMENT
BETWEEN A COMPANY AND ITS BRANCH MANAGER
THIS
AGREEMENT made at...................... this.................. day of
.................... 200___, between ABC Co. Ltd., a company incorporated under
the Companies Act, 1956 and having its registered office at
......................... (Hereinafter called the company of the ONE PART) and
Mr. X s/o........................... resident of........................
(Hereinafter called Mr. X of the OTHER PART).
WHEREAS
the company is engaged in the manufacturing and sale of computers and other
electronic gadgets and is desirous to open a branch at Bombay to look after the
sale of its products in the States of Maharashtra & Gujarat.
AND
WHEREAS the company is interested to appoint a Manager for the new branch
office, who can look after its business interest and promote sale of its
products in the States of Maharashtra & Gujarat;
AND
WHEREAS Mr. X is experienced in sale of consumer goods and management of office
and he has offered his service to the company for the post of branch manager,
which the company has agreed.
NOW
THIS AGREEMENT WITNESSETH that it has been agreed between the parties as
follows:
1. The company appoints
Mr. X for a period of five years as branch manager of its Bombay branch at a
salary of Rs................ per month and commission at the rate
of................... % on the entire sale in the States of Maharashtra &
Gujarat.
2. Mr. X will devote his
full time, skill and attention to the company business. He will also ensure the
promotion of sales of the company products in the territories covered by the
branch by canvassing by different modes as he deems fit.
3. Mr. X will not engage
in any other business or service during the tenure of his service with the
company.
4. Mr. X will maintain
proper accounts and other records of the branch office which should show the
income, expenditure, goods received, sold and in balance and other necessary details
which are necessary in such business. The necessary vouchers, receipts and
supporting documents will also be maintained properly. The accounts, records
and other documents will be open to inspection to the company's
representatives.
5. Mr. X will look after
the interests of the company in the territories covered by the branch and if he
comes to know about the misuse of patent and trade mark of the company products
or any developments which may be necessary for the company for its business, he
shall immediately advise the company about the same.
6. Mr. X will work under
the instructions and orders of the company issued from time to time. Mr. X will
immediately furnish information or data called by the company from time to
time.
7. The company can
terminate Mr. X before the period of expiry of this agreement by giving three
months notice or salary for three months in lieu thereof, without assigning any
reason and A will have no right against the company in the case of premature
termination of service.
8. Mr. X will be
entitled to reimbursement of tour expenses at the rates admissible to other
senior executives of the company from time to time.
IN
WITNESS whereof the parties hereto have set their hands to this agreement on
the day and year first above mentioned.
Signed
and delivered by the withinnamed company
ABC
Co. Ltd. through the hands of Shri A,
Managing
Director, Authorised official
Signed
and delivered by the withinnamed Mr. X
WITNESSES;
1.
2.
