Legal Environment of Business Assignment Submitted To: Dr.

Anuradha Maheshwari Submitted By: Deeksha Nigam Division D Roll No. 40

Objective: To draft an agreement of employment between a company and an employee who is being appointed by the company. Abstract: This agreement is between Asclepius Consulting for Healthcare and Ms. Deeksha Nigam who is being appointed as a Junior Management Consultant in the company. The agreement covers the Appointment, Compensation, Training, Separation, Location and Transfers, Probation and Confirmation, Vacations, Increments and Promotions, Notice period, General Employee Conditions, Governing Law and Jurisdiction clauses. It also mentions the consequences in case of failure to abide by the given clauses.

SERVICE AGREEMENT

THIS AGREEMENT is with effect from <<date in dd/Mon/yy format>> 21/Dec/11 from the Date of Allocation to Consulting Department at Asclepius BETWEEN: Asclepius Consultants for Healthcare Pvt. Ltd., a Company incorporated under the Companies Act. 1956, having its registered office at Plot No. 235, 3rd Cross, 4th Block Kormangala, Bangalore -560034, represented by its SVP and Head -HRD Mr. Joy Lobo, hereinafter referred to as the COMPANY (which term shall unless repugnant to the context mean and include its successors-in-interest and permitted assignees) of the ONE PART: AND: Ms. Deeksha Nigam, Daughter of Mr. Ravindra Nigam aged about <<Age>> 26 years, currently residing at A 31, Parijat Apartments, Union Bank of India Quarters, S.V. Road, Andheri(W), Mumbai- 400058, hereinafter referred to as the CONSULTANT( which term shall unless repugnant to the context mean and include his heirs, legal representatives, assigns, executors and administrators) of the SECOND PART: AND: <<Surety Name>> Mr. Ravindra Nigam son of Mr. Anand Shankar Nigam aged about 64 years, currently residing at 111/454, 80 Feet Road, Brahma Nagar, Kanpur 208012 hereinafter referred to as the SURETY (which term shall unless repugnant to the context mean and include his heirs, legal representatives, assigns, executors and administrators) of the THIRD PART: WHEREAS the Consultant applied to the Company to be appointed as a Junior Management Consultant AND WHEREAS in pursuance of such application, the Company appointed him/her as a Junior Management Consultant on the terms and conditions contained in the appointment order, under which he/she is required to undergo training as may be determined by the Company; ID Ref No. 2456790

-------------------------COMPANY

--------------------------------CONSULTANT

-----------------------------SURETY

AND WHEREAS the Consultant recognizes and accepts that at the time of appointment as Junior Management Consultant, except exposure to academic knowledge, she has received no formal, effective or practical training enabling her to independently function as a Management Consultant thereby becoming commercially viable to the Company; AND WHEREAS consequently and in order to render the Consultant of value to the Company the Consultant would need to undergo formal and extensive training in accordance with courses, modules, programs prescribed or conducted by the Company; NOW THIS AGREEMENT WITNESSES AS FOLLOWS: 1. Appointment: The Consultant has been appointed as Junior Management Consultant on training with the Company up to a period of 6 months from the date of allocation to the Management Consultant Unit at Asclepius, not excluding the applicable Training Program period mentioned in Point 3 below in this section. 2. Compensation: The Consultant will be entitled to a monthly compensation of Rs. 60300 subject to deduction of Provident fund, Professional tax, Income Tax and all other applicable statutory taxes. The consultant shall be entitled to Provident Fund and Gratuity in accordance with the Companys Policy. Particulars Basic Dearness Allowance House Rent Allowance Compensatory Local Allowance Travelling Allowance Other Allowance Bonus(80% of the amount (25% of Basic)) Gross Salary Monthly Rs. 30,000 Rs. 8,000 Rs. 10,000 Rs. 2,000 Rs. 5,200 Rs. 5,100 Rs. 6000 Rs. 66300

The total compensation details, monthly and annual components are also mentioned in the Annexure 1 sheet. 3. Training: The Consultant agrees to undergo training immediately on joining. The duration of the Training would normally be 4 weeks unless otherwise prescribed by the Company. Upon successful completion of the training the Consultant will be deputed for On the Job training for the remaining period of 6 months as a part of the Training. 4. Probation and Confirmation: The Consultant must be on a period of probation for a period of 6 months from the date of joining. If her performance is not found satisfactory, her probation period may be further extended for a period of 6 months.

During the period of Probation her services may be terminated by either side without assigning any reason by giving one months notice or payment of last drawn salary of one month as compensation in lieu thereof. After successful completion of probation, Consultant will be communicated in writing about the confirmation. In absence of such a confirmation, you will continue to remain on probation and you will be intimated an extension of probation. In addition to your performance during the probation period, your confirmation as a permanent employee is subject to your submitting the requisite documents as required by the company before the due date of your confirmation. The copies of the following documents will constitute the required documents: a) Class 10(or equivalent) Mark Sheet(s) b) Class 12(or equivalent) Mark Sheet(s) c) Graduation Mark Sheet(s) d) Post Graduation Mark Sheet(s) e) Diploma Certificate(if applicable) f) Prior Experience Certificate(s) (if applicable) g) Passport

5. Vacations: The Consultant will not be eligible for Vacation if he is serving the Notice Period. Vacation period will not be considered as notice period for separating employees. 6. Increments and Promotions: The Consultants growth in the Company and increment in salary will solely depend on the performance and contribution to the Company. Salary revisions typically happen on an annual basis in April. 7. Notice Period: During the training period if the Consultants performance is unsatisfactory, the training can be terminated by the Company with one months notice or salary thereof. On confirmation as a regular employee, the Consultant will be required to give three months notice or salary; in the event of the Consultant having any incomplete assignment, the Company will have the discretion to relieve her only at the end of three month notice period. The Company can terminate the Consultants service by giving her a three months notice or salary or may terminate the Consultants services immediately on disciplinary grounds. 8. Posting and Transfer: The Consultants place of posting will be Asclepius Consultants for Healthcare- Plot No. 235, 3rd Cross, 4th Block Koramangala, Bangalore. The Consultants services are liable to be transferred from the current geography to another place in India or abroad and/or from one department to another. The compensation applicable to a specific location will be paid to the Consultant.

9. General Employment Conditions: The Consultant agrees not to undertake employment whether full-time or part-time, as the Director/Partner/Member/Employee of any other organization or entity engaged in any form of business activity without the consent of the Company. The consent may be given subject to any terms and conditions that the Company may think fit and may be withdrawn at any time at the discretion of the Company. The Consultant will be required to claim all business related expenses and settle all dues within 30 days of incurring the expenditure. Expense claims, which are received after 30 days from the date of incurring the expenditure, will be deemed to be unauthorized. The Consultant is expected to fulfill all the assigned duties and responsibilities as per the working hours mentioned in the Employee Handbook. The working hours may be reviewed from time to time according to the Companys needs. You may be required to work beyond the normal working hours according to exigencies of work and needs. The Consultant shall not, during the course of your employment of thereafter, disclose, divulge or make public or reveal to any person, any information that you gain including that of the Companys operations, systems, associates or any other confidential information during the course of your employment. If at any time in future, it comes to light that any of the information furnished in the application for employment by the Consultant is incorrect or any other relevant information has been withheld then her employment is liable to be terminated without notice or any other compensation in lieu thereof. 10. Governing Law and Jurisdiction: This Service Agreement shall be governed by, and construed and enforced in accordance with the laws of India. All disputes or claims, arising out of or relating to this agreement shall be subjected to the exclusive jurisdiction of the Courts of Bangalore.

The Consultant will be governed by the rules, regulations and policies of the Company as applicable to you. All the benefits are as per the Companys policies which are subject to change from time to time. Welcome to Asclepius Joy Lobo SVP & Head- HRD

Date & Signature of Consultant

ANNEXURE 1 COMPENSATION DETAILS Employee Name Role 1) Monthly Components

Monthly Total Yearly 360000 120000 96000 24000 62400 72000 61200

Ms. Deeksha Nigam Junior Management Consultant

Basic House Rent Allowance Dearness Allowance

30000 10000 8000 2000 5200 6000 5100

Compensatory Local Allowance

Travelling Allowance Bonus Other Allowances

Total (Gross)

66300

675408

2) Annual Components Bonus (Balance 20% will be paid out in the end of financial year) = Rs. 14400

3) Retirement Benefits Monthly

PF 12% of Basic 3600

Yearly
43200

TOTAL GROSS SALARY PER ANNUM: 1 + 2 +3 = Rs. 733008