AGREEMENT/SERVICE BOND

This agreement is made and executed by Sri POLIMETLA BHUPESH KUMAR S/o Sri
POLIMETLA SAMSON aged about 23 years residing at Door No: 53-4-33/1, OPP LIC
COLONY CHRISTURAJAPURAM,VIJAYAWADA-520008 KRISHNA DISTRICT
ANDHRA PRADESH (hereinafter called the Officer) of the first part and Sri
POLIMETLA VENKATA KIRAN,S/O POLIMETLA SAMSON , aged about 26 years
residing at DoorNo: 53-4-33/1, OPP LIC COLONY
CHRISTURAJAPURAM,VIJAYAWADA-520008 KRISHNA DISTRICT ,ANDHRA
PRADESH (hereinafter called the Guarantor) of the second part in favour of Syndicate
Bank, a Bank constituted and functioning under the Banking Companies (Acquisition and
Transfer of Undertakings) Act, 1970 with its Head Office at Manipal 576 104, Karnataka
State which expression shall be deemed to include its assigns, successors and attorneys,
hereafter called the Bank.

WHEREAS the Officer has been recruited for the services of the Bank and WHEREAS as per
the letter of appointment no.PD:HRDD:REC:PO.1160.1240107930 Dated 26.09.2016
issued by the Bank to the Officer, one of the conditions of the appointment is that the Officer
should execute an agreement along with a Guarantor in favour of the Bank agreeing to serve
the Bank for a minimum period of 2 years from the date of joining the services of the Bank
and for such other extended period as may be deemed necessary failing which the Officer and
the Guarantor are liable to pay compensation/liquidated damages to the Bank; and
WHEREAS the Officer has agreed to join the Bank on 17.10.2016.as a Probationary Officer
in Junior Management Grade scale-1( Probationary) in JMGS-I and in terms of the letter
of appointment the Officer along with the Guarantor execute this agreement on the terms and
conditions which are as follows:-

(Signature of the GUARANTOR) (Signature of the OFFICER)

1. The Officer hereby agrees to serve the Bank under the rules and service conditions of
the Bank for a minimum period of 2 years from the date of joining the Bank,
irrespective of the place of posting or subsequent places of transfers which are under the
sole discretion of the Bank. If he/she fails to serve the Bank for the said period for any
reason the Officer and the Guarantor hereby jointly and severally agree to pay
Rs.1,00,000/- (Rupees One lakh only) to the Bank by way of compensation and/or
liquidated damages on demand by the Bank.
2. The Officer shall not without the express prior approval in writing of appropriate
controlling authority in the Bank, apply for any job, accept any assignment or other
employment for profit , until the Officer has fulfilled his/her obligation at clause No. 1
above. In case, the Officer violates this and/or resigns to accept any other/ fresh job the
amount mentioned above shall be paid before getting relieved from the services of the
Bank.
3. The Officer hereby agrees to obey and abide by all the rules, regulations, service
conditions, conduct & discipline of the Bank as per the rules and regulations prescribed
for the Officers in terms of SyndicateBank (Officers) Service Regulations 1979 and
SyndicateBank Officer Employees (Conduct) Regulation 1976 and SyndicateBank
Officer employees (Discipline & Appeal) Regulation 1976.
4. The Officer and the Guarantor shall be personally liable to pay the amount to the
Bank as stipulated in para No. 1 of the terms and conditions of the agreement and in case
of the officers failure to make the said payment, he consents for appropriating sum that
may be due to the officer by way of salary, allowance, Provident Fund, Gratuity or any
other terminal benefits and also without prejudice to Banks right to take any disciplinary
action against the officer under the relevant Syndicate Bank Officers Service Regulations
or any other applicable service conditions.
5. The Officer and the Guarantor hereby agree that this agreement will remain in full
force till the completion of Two years or till the Officer and the Guarantor are discharged
of all the liabilities under this agreement by the Bank.

IN WITNESS WHEREOF we have set our hands unto this on 05.10.2016 at

VIJAYAWADA

Signature of the GUARANTOR Signature of the OFFICER

(Name: ) (Name: )

Witness
1. Name: Signature:
Address:

2. Name: Signature:
Address:

Note:

1. This agreement is to be executed on non judicial stamp paper of requisite

value as applicable in the state where the agreement is executed and to be
signed by the
Officer and the Guarantor.

2. This agreement should be signed by the Officer and the Guarantor (having
good net worth) on all the pages without fail. Two witnesses should be signed at
the last page with their full name and address.

Signature of the GUARANTOR) (Signature of the OFFICER)