INDEMNITY BOND THIS DEED is made at ------------- this ------ day of ------------------ between: Shri.----------------------- son of Sh.

--------------------------R/o ------------------------------------- (hereinafter called the Employee) of the FIRST PART And Merino Industries Limited a Company incorporated under the Companies Act, 1956 having its registered office at ------------------------ through its duly authorized Director------------------ (hereinafter called the Company) of the SECOND PART. Whereas the employee has been selected by the Company for providing housing assistance of Rs.25 Lacs (Rs. Twenty Five Lacs only) in respect of Purchase of Flat by the Employee due to their loyalty to the Company. Whereas the Company will provide to the Employee Loan of Rs.25 Lac For Purchase of Flat Amounting Rs.36lac (Rs. Thirty Six Lac) located at ------------- society, add.--------in the name of employee. All the Registration Expenses shall be borne by the Employee. The Company will provide the Loan of Rs.25 Lac (Rs. Twenty Five Lacs only) at the Interest of 10% Per Annum repayable in EMI of 10 Years on Hypothecation of above Flat in the name of Company. The Company will provide the EMI to employee as Extra Benefit/ Incentive which will be disbursed to employee as Salary on monthly basis for the tenure of 10 years. i.e. the Company is providing Rs.25 Lac to Employee free of Cost at present in lieu of their performance of Duties sincerely & diligently for the Company in the Coming 10 years. NOW THE CONDITION OF THE BOND IS THAT: In lieu of the facility given by the Company as mentioned above the Employee has agreed to indemnify the Company as follows:

1. TENURE OF BOND IN RESPECT OF CONTINUING EMPLOYEE: The Employee has agreed to Employer that he will perform his duties for the Company Diligently for the period of 8 years (Eight Years) from the date of Execution of this Bond. 2. TENURE OF BOND IN RESPECT OF EMPLOYEE WHO ARE GOING TO RETIRE AFTER 5 YEARS: In case the Employee who is retiring before the Expiry of 8 years (Eight Years) from the date of this bond, he will work for the Company for the Minimum period of Five Years sincerely & diligently from the date of the Execution of Bond. And after retirement he will not Join or act as consultant or in any way associated with any of the Company who is in the same line of business in which the Company is operating for at least 3years (Three Years). 3. BOND AMOUNT IN RESPECT OF BREACH OF ABOVE TENURE OF SERVICE :If the Employee leaves the Company before Expiry of 8 Years (Eight Years) as mentioned above he will pay the Company an Amount of Rs.15 Lacs (Rupees Fifteen Lac only)-A or amount equal to Principal Repayment of Loan as disbursed to him as Incentive during the bond period with Interest @18% P.A. from the inception of Loan period-B, whichever is higher (A or B whichever is higher). 4. DISCIPLINARY ACTION: In case if any of the Employee who do not perform his duties sincerely & diligently for the Company & works against the Interest of the Company. Then the Employee Service may be terminated by the Company before the Bond period & employee will be liable to pay the Amount of Rs.15 Lacs (Rupees Fifteen Lac only)-A or amount equal to Principal Repayment of Loan as disbursed to him as Incentive during the bond period with Interest @18% P.A. from the inception of Loan period-B, whichever is higher (A or B whichever is higher). 5. ACCIDENTAL OR DEATH INSURANCE: In case if any Employee demise or due to accident unable to perform the duties before the expiry of Bond Period (Eight Years) then the Company will forgo the Loan Amount disbursed to Employee & the hypothecation will be released in favour of Employee (in case of disability) or Employees Family (in case of demise of employee) in respect of above flat. So the Company is providing an Insurance to employee for any future miss-happening to employee, in that case all the Cost of remaining loan will be borne by the Company. And if the employee makes such payment as written in Bond then the Bond shall be void and of no effect, otherwise it will remain in full force and virtue. Signed and delivered by the above-named employee and surety in the presence of : WITNESS: 1 ------------------------(Employee)

2. -----------------------(Company) Merino Industries Limited Through it authorized director-------------