Termination Policy

BloomchemAG Pvt. Ltd.

1. Purpose

This policy defines the rules, procedures, and conditions under which employment with BloomchemAG Pvt. Ltd. (“the Company”) may be terminated. The aim is to ensure fairness, transparency, and compliance with statutory requirements, while safeguarding the Company’s interests.

2. Scope

This policy applies to all employees of the Company, irrespective of grade, department, or tenure.

3. Grounds for Termination

An employee’s services may be terminated on any of the following grounds:

1. Performance-related:
   
   

   • Continuous underperformance despite feedback and Performance Improvement Plans (PIP).
     
     

   • Failure to meet defined Key Result Areas (KRAs) or Key Performance Indicators (KPIs).
     
     

2. Misconduct:
   
   

   • Violation of company rules, policies, or code of conduct.
     
     

   • Acts of dishonesty, fraud, theft, or misrepresentation.
     
     

   • Harassment, discrimination, or creating a hostile work environment.
     
     

   • Unauthorized disclosure of confidential information.
     
     

3. Absenteeism:
   
   

   • Absence from duty without approval for more than three consecutive working days.
     
     

4. Behavioral Issues:
   
   

   • Insurbordination or refusal to carry out reasonable instructions from superiors.
     
     

   • Disruptive or unprofessional behavior damaging to the Company’s reputation.
     
     

5. Other Reasons:
   
   

   • Breach of employment agreement or statutory laws.
     
     

   • Any act deemed prejudicial to the interests of the Company.
     
     

4. Termination Procedure

1. Notice of Concern:
   
   

   • For performance-related issues, a formal written warning or PIP may be issued before termination.
     
     

   • For misconduct, disciplinary inquiry will be conducted as per principles of natural justice.
     
     

2. Notice Period:
   
   

   • Unless otherwise specified in the appointment letter, either party may terminate the employment by giving 30 days’ written notice or salary in lieu thereof.
     
     

3. Termination Without Notice:
   The Company reserves the right to terminate employment with immediate effect and without notice or salary in lieu, in cases of:
   
   

   • Gross misconduct or breach of trust.
     
     

   • Fraud, theft, or criminal offense.
     
     

   • Willful damage to Company property or reputation.
     
     

   • Any serious violation of compliance or legal norms.
     
     

4. Exit Formalities:
   
   

   • Employees are required to return all Company assets, documents, ID cards, and confidential information prior to the last working day.
     
     

   • Full & final settlement will be processed only after clearance from all departments.
     
     

5. Salary & Benefits Post Termination

1. No Salary Payable After Termination:
   Once termination is effected, the Company shall not be liable to pay any salary, wages, allowances, or benefits beyond the last working day.
   
   

2. For Immediate Termination Cases:
   
   

   • No notice pay or severance will be applicable where termination is due to misconduct, fraud, breach of confidentiality, or violation of law/policy.
     
     

3. Variable Pay & Bonus:
   
   

   • Any performance-based incentive, variable pay, or bonus remains at the sole discretion of the Company and shall not be payable after termination, irrespective of the period worked.
     
     

6. Confidentiality & Non-Compete Obligations

• Even after termination, employees are legally bound to maintain strict confidentiality of all Company information.
  
  

• Employees are prohibited from misusing Company intellectual property, trade secrets, or client data.
  
  

• The Company reserves the right to initiate legal action in case of breach.
  
  

7. Legal Compliance

• The Company shall adhere to the provisions of the Indian Contract Act, Shops & Establishment Act, Industrial Disputes Act (where applicable), and other labor laws.
  
  

• The Company retains the right to modify or update this policy at any time in accordance with changes in law or business requirements.