RENEWAL OF SERVICE AGREEMENT

THIS AGREEMENT made at………………this………………day of………………20…………. between XY Co. Ltd., a company incorporated under the Companies Act, 1956, and having its registered office at…………….. Hereinafter called the said company, of the ONE PART and A son of ………………………. resident of………………hereinafter called the said A of the OTHER PART.

WHEREAS Shri A was appointed as Manager of the company for a period of three years w.e.f. ………………to………………vide agreement dated………………executed between the said company and Shri A, hereinafter called as the said agreement‑,

AND WHEREAS in terms of clause………………of the said agreement the agreement can be renewed for a further period on the terms and conditions mutually agreed between the parties;

AND WHEREAS the said agreement is about to expire on …………………..and the parties have agreed to renew the said agreement for a further period of three years in the manner hereinafter appearing.

It is agreed between the parties as follows:

(1) The period of appointment of Shri A as manager as originally agreed to be for three years is extended for a further period of three years.

(2) The salary of A will be Rs ………………p.m. w.e.f ……………….

(3) All other terms and conditions of the said agreement will remain in full force and effect, save and except to the extent, it shall necessarily be altered or modified by this agreement.

IN WITNESS whereof the parties hereto have executed this agreement on the day and year first above mentioned.

WITNESSES

1. Signed and delivered by the within named company X

Y Co. Ltd. through the hands of Shri …………………… Managing Director, authorised official

2. Signed and delivered by the within named A