Notice Period in current company.

Dear Sir, The present employer is refusing for buy back of notice period. They are compelling me to serve notice period of two months. I will share few excerpts from the agreement letter. Please advice, if I can challenge their decision. Excerpts from the agreement: 4.1 The parties agree that during the first one hundred and eighty (180) days (first and last day, inclusive) of the Executive’s employment with the Company (the “Probation Period”), either party may terminate this Agreement without Cause ( as defined in clause 4.2, below): (i) at any time upon giving the other party thirty(30) days written notice; except (ii) that the Company may by written notification to you extend the said Probation Period by further two (2) months (the “Extended Probation Period”); and (iii)that in the event this Agreement has not been terminated by either party during the Probation Period or the Extended Probation Period (as the case may be); then (iv) for the remainder of the duration of the Executive’s employment with the Company (i.e. after the Probation Period/Extended Probation Period), either party may only terminate this Agreement without Cause by providing the other with sixty (60) days written notice. For the avoidance of doubt the terms applicable to the Probation Period shall be applicable to the Extended Probation Period on a pari pasu basis. 4.2 In addition to termination without cause pursuant to sections 4.1 above, your employment may also be terminated as follows: (a) The Company shall have the right to terminate your employment immediately by written notice for Cause (as defined below), or without notice in the event of your Disability (as defined below), upon attaining Retirement Age (as defined below) or death. As used in this Agreement "Cause" shall mean: (i) your performance of your job in an unsatisfactory manner, as determined by the Company; (ii) your material breach of any of the terms of this Agreement including but not limited to Section 2; (iii) your failure to comply with Company policy, procedure, practice or direction by the Company; (iv) your misconduct, violation of any law classified as a felony or dishonesty; or (v) the Company's dissolution or cessation of business operations. "Disability" as used in this Agreement, means a physical or mental condition that renders you unable to perform the essential functions of your job for a period of one hundred and eighty (180) days or more. Disability shall be determined by a physician satisfactory to the Company. Subject to the provisions of the foregoing paragraph, for the purposes of this Agreement, you shall be deemed to attain retirement age when you attain the age of sixty (60) years (the “Retirement Age”). Without prejudice to the provisions of any agreement and/or arrangement that the Company may have with any body corporate in respect of statutory or other benefits that you may be entitled to, you acknowledge and agree that, The Retirement Age may be varied by the Company at its sole discretion (which shall be by way of written notification to you and which may be electronically communicated). (b) You may terminate your employment upon sixty (60) days written notice in the event the Company fails to comply with any material provision of this Agreement; provided, however, the Company shall have sixty (60) days from the receipt of such notice to cure any such default. If such default is cured within the initial sixty (60) days period, or if the Company takes reasonable steps to cure the default within such period and reasonably expects to cure such default within a reasonable time and in any event within ninety (90) days of the original notice of breach, then in either event, you shall have no right to terminate your employment 4.3 This Agreement shall terminate upon the termination of the employment relationship with the following exceptions: Section 6 (Company Property and Competitive Business Activities), and Section 7 (Release) shall survive the termination of Executive's employment and/or the expiration or termination of this Agreement, regardless of the reasons for such expiration or termination. 5.7 Without prejudice to the provisions of Section 4.1, 4.2 and 5.2, if the Executive terminates his/her employment pursuant to Section 4.1 (without cause), then the Company may at its sole option, either require the Executive to: (a) serve the notice period specified in Section 4.1 (whether such notice period is within the Probation Period or at any time thereafter) in whole or part; or (b) may pay the Executive an amount equivalent to the gross salary that would have been owed to the employee for the duration of the aggregate notice period specified in Section 4.1 in lieu of the Executive serving the said notice period. 5.8 It is expressly acknowledged and agreed that the rights of the Company set out in Section 5.7 (a) and (b) may be exercised in whole or in part by the Company and where the Company requires the Executive to only serve a part of his/her notice period pursuant to Section 5.7 (a), then for the remainder of the notice period the Company shall pay amounts in lieu of notice on a pro-rated basis.