Notice period buyout options

I have resigned from my current employer but they are insisting me to server 2 months notice period and not providing me buy out option. Request you to help me to handle such a situation. Termination terms and conditions are as below. 1 Your employment will continue until termination in accordance with the terms of this agreement, your retirement or death whichever is earlier. 2 If you wish to resign from the services of the Company, you will need to provide Two months’ notice. The Management reserves the right to accept payment which is equal to your Two month’s basic salary in lieu of notice and can insist to serve the full notice period. 3 The Company has the right to terminate your services by giving Two months’ notice or Basic salary in lieu of the same without assigning any reasons thereof. 4 Notwithstanding anything contained herein, in case you are found guilty of misconduct, including but not limited to dishonesty, disobedience, disorderly behavior, negligence, indiscipline, or any other conduct considered by the Company to be detrimental to Company’s interests, or clients’ interest or violation of one or more terms of this letter agreement, your services may be terminated with immediate effect, by a notice in writing (without salary in lieu of notice). 5 Upon termination of your employment for whatever reason, the Company shall not be obliged to make any further payment to you beyond the amount of any sums actually accrued on the date of termination and unpaid and the Company shall be entitled to offset and deduct from any such sums all and any amounts from time to time owing by you to the Company. 6 The Company reserves the right to suspend you on full pay for any period if, by reason of a requirement to investigate your conduct or for any reason whatsoever, the Company considers it in the best interests of the Company so to do. 7 If your employment is terminated by reason of the liquidation of the Company for the purposes of amalgamation or reconstruction and you are offered employment with any concern or undertaking resulting from such amalgamation or reconstruction, you shall have no claim against the Company in respect of the termination of your by the Company hereunder.