Employee Bond Format
The Employment Bond is an agreement entered between the company and the employee, which among the other terms contained therein states that in consideration of the training given to the Employee and the money spent by the company in imparting such training, the Employee will remain in the services of the company for a particular period of time. In case the Employee breaches the provisions of the Agreement, the Employee will be liable to pay a certain sum of money, be it the expense incurred by the company in training of the Employee. The Bond may also contain confidentiality and non competition clauses. The legality of the Bond shall depend upon whether there was consideration in the form of training or otherwise.