SURETY BOND

This SURETY BOND (hereinafter called the “Bond”) is executed at Dhaka on this the
«Date_of_Execution» of the Christian era:

EXECUTED BY:

(1) «Employee_Name», son/daughter/wife of «sondaughterwife_of», Age: «aged_candidate» years,

Nationality: Bangladeshi, Religion: «Religion», having his/her permanent address at
«Permanent_Address» and present address at «Present_Address». (hereinafter called the “Employee”);

AND

Signature of Employee
(2) «Name_of_the_Surety», son/daughter/wife of «sondaughterwife_of1», Age: «age_surety» years,
Profession: «Profession», Nationality: Bangladeshi, Religion: «Religion1», having his/her permanent
address at «Permanent_Address1» and present address at «Present_Address1». (hereinafter called the
“Surety”);

IN FAVOUR OF:

Eastern Bank Limited, a banking company constituted under the Bank of Credit and Commerce International
(Overseas) Limited Bangladesh (Reconstruction) Scheme, 1992, prepared by the Bangladesh Bank under
Section 77 of the Bank Companies Act, 1991, and incorporated in Bangladesh with limited liability under
Signature of Surety

the Companies Act, 1913, and having its registered office at 100, Gulshan Avenue, Police Station- Gulshan,
District- Dhaka, Bangladesh (hereinafter called the “Employer”).

WHEREAS

A. The Employer will appoint the Employee as <Position> initially for a period of 01 (one) year for a
fixed monthly salary of ________only during trainee period. Subject to successful completion of trainee
period their monthly gross salary will be ________; deduction of income tax and provident fund will be
applicable as per country’s law and Bank’s policy.

B. The Employer has a program to give adequate training to the Employee to make the Employee fit for
the job and work to be entrusted to him/her by the Employer.

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C. The Employee, in consideration of the substantial cost to be borne by the Employer to train the
Employee, has agreed to serve Employer for at least 03 (three) continuous years and to furnish one
surety to the effect that the Employee and the Surety shall be liable severally and/or jointly to pay to
the Employer, to the satisfaction of Employer, in the event the Employee defaults and leaves the
Employer before the Obligatory Period (36 months continuous service). Accordingly the Employee and
the Surety have agreed to execute this Bond in favour of the Employer upon terms and conditions here-
in-after stated:

THE CONDITIONS OF THIS SURETY BOND ARE AS FOLLOWS:

Signature of Employee
1. That the Employee shall, in consideration of the training to be imparted to the Employee by the
Employer incurring significant expenditure to the Employer, the Employee and the Surety bind
themselves that the Employee shall serve the Employer for a minimum period of 3 (three)
continuous years (the “Obligatory Period”) from the date of joining.

2. If the Employee leaves the Employer before the completion of the Obligatory Period (minimum
36 months continuous service) he/she shall on demand by the Employer be liable severally and/or
jointly to pay to the Employer a sum of Taka equal to 50% of lastly drawn monthly gross salary
x (36 months - served months) only (the “Compensation Amount”).
Signature of Surety

3. This bond shall automatically be terminated on the completion of the Obligatory Period including
the training/trainee period by the Employee to the Employer or after realization of the
Compensation Amount whichever is earlier.

4. This Bond shall be governed by the laws of People’s Republic of Bangladesh and shall be subject
to the jurisdiction of the Courts of People’s Republic of Bangladesh.

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NOW KNOW ALL MEN AND WOMEN BY THESE PRESENTS that we, (1) «Employee_Name», the
Employee, and (2) «Name_of_the_Surety», the Surety, do hereby bind ourselves, jointly and
severally as well as our heirs, successors, executors, administrators, assignees and legal representatives,
to pay on demand to the Employer, the Compensation Amount in the event, I, «Employee_Name» leave
the Employer before the Obligatory Period.

IN WITNESS WHEREOF, We have executed this Surety Bond with our free consent, without any influence
or threat of intimidation.

«Employee_Name» «Name_of_the_Surety»

------------------ ----------------
Employee Surety

WITNESSES:
1. 2.

Signature:____________________ Signature:_________________
Full Name: Full Name:
Address: Address:

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