Sample Memorandum of Undertaking Letter Format
[Memorandum of Undertaking is basically the agreement done on mutual consent under certain terms and conditions. Below briefly focus on Sample Memorandum of Undertaking Letter Format. The purpose of the Memorandum of Agreement is to set forth the terms and conditions, the scope of work and responsibilities of the parties associated with their collaboration. It is done for business partnerships and on an agreement of certain contracts. It is not legally binding but signals the willingness of the parties to move forward with a contract. You can make any change to the below application as per your needs.]
MEMORANDUM OF UNDERTAKING (MOU)
I, (Name of the person), S/o (Father’s Name), Aged (***) years, R/o (Permanent address to be mentioned), pursuant to my selection and appointment as (Cause) at (objective) Unit, do hereby execute this Bond/ Memorandum of Undertaking (hereinafter referred to as MOU for convenience) in favor of M/s. (hereinafter referred to as “Company” for convenience) and agree and hereby giving my full consent as follows – (Describe in your words)
(1) I, therefore, consent to serve the “Organization” in the position & salary offered to vide Offer letter Dated. (DD/MM/YY) for a minimum period of 1 (ONE)
(2) I do hereby agree to the existing rules and regulations of the “Company” and rules and regulations framed/amended from time to time.
(3) I do hereby agree that during the said period of 1/2/3/4/5 years I shall not leave the “Company” for any reason whatsoever. I also agree that in the event
(4) I intend to leave the “Company” for any reason whatsoever prior to the completion of the said minimum period of 2 (TWO) years from the date of execution of this MOU, I will compensate the “Company” by paying an amount equivalent to sum of “Six Months” total emoluments at the rate of emoluments last drawn by me. (Follow company terms and conditions).
(5) I do hereby undertake that during the tenure of my working with the “Company”, I shall serve the “Company” faithfully and diligently, devote my whole
(6) “Company” from time to time. Further, I shall not divulge or disclose any of the secrets of the Company and engage myself and/or have any concern with it.
(7) Insubordination, insult or disobedience to any of my superiors, gross neglect of work, non-performance, carelessness, damage of equipment, interfering with.
(8) I do hereby undertake to leave from the service of the “Company” if I found medically unfit to continue the service anymore and I will not be entitled to any compensation
(9) I do hereby undertake that I am not entitled to leave the employment with any notice period during the period of minimum guaranteed service as per this MOU.
(10) I do hereby undertake that after completion of 1 (ONE) year of the agreement, I shall be deemed to continue in service with the “Company Name” until termination by either side.
I declare that I am executing this MOU in favor of “Company name” with my own will and consent in presence of the following witnesses on this the (date) day of (month) (year) at (place).
Witnesses (with address)