I am entering into the agreement with XYZ company for sponsring H1B Visa. They want me to sign the following agreement. I don’t have any intention to break it but i might to do it because of master. Can someone help me out and suggest me whether or not to go with this agreement. COMPANY ‘XYZ is involved in the business of recruiting candidates for various companies worldwide and also provides services in the nature of identifying suitable employment opportunities for Indian candidates abroad for employment.The candidate who has obtained qualification in Software Design and Development approached XYZ for providing assistance in identifying suitable employment opportunities in U.S.A. in the field of Information Technology.XYZ evaluated the educational qualifications and credentials of the candidate, identified an employer who is willing to provide employment to the candidate, co-ordinated the screening process which includes evaluation of the suitability of the candidate for the prospective employer in U.S.A.;Pursuant to the efforts of XYZ , the candidate has been recruited by Jinigram, LLC registered at 32930 Alvarado-Niles Road #340, Union City, CA 94587, United States, (hereinafter referred to as ‘CLIENT’) for employment in U.S.A as ‘Computer Specialist’ on condition that the candidate shall work for a minimum period of 36 months from the start date of Employment at USA.Pursuant to the above mentioned offer and acceptance, XYZ also renders services for obtaining a visa and co-ordinating with the candidate and his prospective employer for travelling to the U.S.A.;Both the parties, after mutual discussion, have agreed to execute this agreement to spell out the terms and conditions and other consequences resulting in the breach of the employment offer by the candidate.Now this Agreement witnesseth as follows:
1.The Candidate, based on the efforts of XYZ , has been offered employment by CLIENT, a company incorporated under the laws of U.S.A. on condition that the candidate shall work for a minimum period of 36 months from joining service at USA.2.The Candidate has accepted the offer of employment made by CLIENT and has undertaken to work with CLIENT for a minimum period of 36 months from the date of joining employment in U.S.A.3.The Candidate hereby agrees that he is liable to pay a sum of Rs.10,00,000 to XYZ as fees for the services rendered by XYZ which includes providing assistance for recruitment, facilitating the screening process, identifying suitable employers, facilitating visa processes and co-ordinating the travel of the candidate to U.S.A. provided however that the said sum of Rs. 10,00,000/- payable by the candidate will be waived after the employee completes a continuous period of employment with CLIENT for a period of 36 months from the date of joining. 4.The Candidate hereby agrees that in the event of the Candidate failing to work for a minimum period of 36 months with CLIENT from the date of joining duty at U.S.A., XYZ will suffer a huge monetary loss of Rs. 10,00,000/- which is a reasonable estimate of the loss that would be caused to XYZ .5.The Candidate and Surety jointly and severally agree to pay XYZ the sum of Rs. 10,00,000/- as per Cl.4 Supra by way of liquidated damages in the event of breach of any of the conditions in this Agreement.6.It is hereby agreed, by and between the parties that the liquidated damages stipulated as above shall constitute a debt owed to XYZ , and shall be recoverable by JOBIYO from the Candidate and Surety jointly and severally with interest thereon at 18% per annum from the date of breach till repayment immediately upon the Candidate committing a breach of any of the conditions contained in this Agreement and in particular, if the Candidate abandons, deserts or resigns from the services of his employer in U.S.A. before the expiry of 36 months from the date of the Candidate’s joining employment in U.S.A. Provided however that the abovesaid liquidated damages shall not be payable if the Candidate resigns from the services of his employer or if his services are terminated by his employer for reasons not attributable to any conduct or default on the part of the Candidate, anytime before the expiry of the said period of 36 months and comes back to India immediately and thereafter does not enter into U.S.A. for a continuous period of 18 months from the date of such return.7.The Surety binds himself/herself personally to pay XYZ the liquidated damages in the event of the Candidate committing a breach of any of the terms and conditions of this Agreement.8.Any dispute, controversy or claims arising out of or relating to this Agreement or the breach, termination or invalidity thereof, shall be settled by arbitration in accordance with the provisions of the Indian Arbitration and Conciliation Act, 1996 by a sole arbitrator to be appointed by the Company at his discretion. The place of arbitration shall be at Chennai and any award whether interim or final, shall be made, and shall be deemed for all purposes between the Parties to be made in Chennai. The arbitral procedure shall be conducted in the English language and any award or awards shall be rendered in English. The award of the arbitral tribunal shall be final, conclusive and binding upon the Parties, and the provisions of the [Indian] Arbitration and Conciliation Act, 1996 shall apply. The rights and obligations of the Parties under, or pursuant to, this Clause, including the arbitration agreement in this Clause, shall be governed by and be subject to Indian law, (without regard to the conflict of law rules which might result in the application of the laws of any other jurisdiction) and the agreement shall be subject to the exclusive jurisdiction of the courts at Chennai.9. Unless otherwise stated, all notices, approvals, instructions and other communications (collectively “Notice”) for the purposes of this Agreement shall be given in writing, in the English language and may be given by facsimile, by personal delivery or by courier or electronic mail addressed to the Party concerned at the address stated below, or any other address subsequently notified to the other Party for the purposes of this clause.