DEED FOR CANCELLATION OF THE DEED OF THE APPRENTICESHIP
THIS APPRENTICESHIP DEED made this ____ day of ___________, 20__ between __________, a company registered under the Companies Act, 2013 and having its registered office at ________________________ (hereinafter referred to as “the Company”) of the ONE PART
Sh. _______________________________, s/o ____________________, r/o ________________________________ (hereinafter referred to as “the Apprentice”) of the OTHER PART;
- The Company had agreed to take Sh. _____________ as an apprentice in the trade of ________________ for a period of _______________ on the terms and conditions mentioned in the deed of apprenticeship dated __/__/20__ between the Company and the Apprentice.
- The parties hereto have approached the apprenticeship advisor for termination of the contract of apprenticeship before the expiry of the period of apprenticeship training which was approved by the apprenticeship advisor vide its order dated __/__/20__, a copy of which is annexed hereto.
NOW THIS DEED WITNESSETH AS UNDER:
- The said contract of apprenticeship between the Company and the Apprentice shall stand cancelled and termination in all respects from the date of this deed.
- The apprentice shall pay to the Company a sum of Rs. _________ in full discharge of all claims and demands that the Company might have against the apprentice, as per the terms of the said contract of apprenticeship.
- The parties hereto agree that neither party have any claim or demand whatsoever against the other party, whether in terms of the said contract of apprenticeship or otherwise.
The Apprentice hereby covenants that:
- He shall not take up, for a period of _____________ from the date of this deed, employment with any company/employer which is engaged in the business which is similar to the business of the Company.
- He shall not disclose to any person any of the trade secrets or any other information about the Company which he might have come to know due to his having undergone apprenticeship training with the Company, as such disclosure may harm the interests of the Company.
IN THE WITNESS WHEREOF, the parties hereunto have signed this deed ________ day of __________, 20__.
- For and on behalf of the Company
- The Apprentice